Articles

• Working capital analysis of pharmaceutical companies in Central Europe

  1-13

  Gergő Tömöri

  Rihárd Horváth

  Views:

  226

  The pharmaceutical industry has huge market potential and investment opportunities, while pharmaceutical players also face a number of challenges, such as regulating the production and pricing of active pharmaceutical ingredients, protecting intellectual property and competing with other players. As a key sector of the Hungarian economy, the industry generates a significant share of GDP and has grown dynamically in recent years, the aim of our study is to compare the activities of Hungarian industry players with sectoral companies in other Visegrad countries, and thus to examine the similarities and differences in the liquidity management of the pharmaceutical industries in these countries. The analysis was based on the annual accounts of regional pharmaceutical companies for the period 2018-2022, extracted from the EMIS database.  The period covered included several globally significant events, and therefore our research also examined the impact of the coronavirus epidemic and the war in Ukraine on pharmaceutical companies and whether there were differences between the Central European countries. Overall, sectoral players in each of the region's countries were able to keep their indebtedness under control and, although Hungarian companies were able to manage the largest assets, by the end of the period the working capital efficiency of Polish companies was better than their regional competitors overall.

  pdf (Hungarian)

  174

• CSR expectations and voluntary participation among employees

  14-21

  Virág Ágnes Kiss

  Kincső Kiss

  Attila Szakács

  Róbert Szűcs

  Views:

  177

  Our research aims to reveal the expectations of employees towards their organization about CSR initiatives, and also to map out what attitudes characterize them in connection with volunteerism that looks back on old traditions.

  With the involvement of more than 300 people in our research - mostly employees of large companies - we mapped the employee attitudes by analysing statistical and spontaneous mentions.

  Based on our results, it became clear that the employees consider it important that their employer also carries out socially responsible activities, and that their most important task is to achieve economic efficiency. They are also happy to participate in volunteer activities for a good cause.

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  153

• SLR ABOUT THE COSTS OF PRIVATE BLOCKCHAIN TECHNOLOGY FOR BUSINESSES

  22-33

  Péter Nagy

  Adrián Szilárd Nagy

  Views:

  184

  Since the appearance of Bitcoin (2009), blockchain technology has been used in many fields. Companies use it for financial services, goods tracking, data authentication and secure storage, among other things, in order to make their operations more transparent and efficient. This technology has revolutionized the data management and transaction processing, but the associated costs are also significant and relevant to understand. The costs of blockchains vary and depend on the type of blockchain and how it is used. In this article, we examine the costs of using blockchain technology based on international literature, studies and reports with systematic literature review. In the results the range of possibilities offered by technology is presented, as well as the technology related cost types, and expenditures what companies have to deal with.

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  270

• Work value preferences among the members of talent management program

  34-43

  Zsuzsanna Mándy

  Roland Filep

  Krisztina Dajnoki

  Views:

  171

  Work values make individuals interested and guide their behavior permanently, so our investigation is particularly important. Employees choose a workplace where they in accordance with their values. The purpose of our research was to explore the work value of students participating in the Talent Management Program of the University of Debrecen. Among our sub-goals was the investigation of whether intrinsic or extrinsic values are preferred. We conducted our own investigation using a questionnaire method, the Super work value questionnaire. A t-test was used to examine the difference between the rankings of women and men. Among the respondents, social relations, self-realization, variety and safety represent the most value. Aesthetics and control are considered less important. We recommend creating a working environment for employers that is characterized by close human relationships and diversity, where employees can take advantage of the opportunities provided by their creativity.

  pdf (Hungarian)

  105

• The importance and challenges of developing financial awareness

  44-52

  Cserne Panka Póta

  Views:

  739

  A financially conscious population promotes a country's competitiveness and makes its economic stability more secure. There is a need to promote financial awareness and education among secondary school students, young adults and older age groups. Our synthesis research is based on secondary data collection. This article describes the importance of financial awareness and the domestic initiatives and challenges to improve it, with a particular focus on human resource factors. It can be concluded that there are a number of initiatives in Hungary aimed at providing students with the financial and economic basics they will need in the future, starting from school. Some training is available for teachers involved in education, but there can be a serious problem with the low number of teachers.

   

   

  pdf (Hungarian)

  458

• AN ANALYSIS OF THE ECONOMIC IMPACTS OF AIR POLLUTION IN THE URBAN AREAS: BIBLIOGRAPHIC REVIEW

  53-68

  Olimjon Gaybullaev

  Views:

  229

  Air pollution is a severe problem affecting cities worldwide, with significant environmental and public health implications. Air quality has become challenging as cities grow rapidly with far-reaching socioeconomic consequences. This paper aims to provide a bibliographic review of existing literature on the economic impacts of air pollution in urban areas. The review includes studies that measure health costs, labour productivity impacts, household consumption, stock market performance, and tourism. The findings show that air pollution results in significant economic burdens, such as increased healthcare costs due to pollution-related illnesses and productivity losses. Additionally, it negatively affects household consumption, stock market valuation, and tourism revenue.

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  134

• The impact of digital transformation on the business model

  69-79

  László Arany

  Péter András Popovics

  Views:

  307

  The aim of this study is to examine the characteristics of the digital economy and digital business models, summarising and contextualising the milestones, tools, conditions, socio-economic impacts and areas of the emergence and development of the digital economy. Due to the interdisciplinary nature of the digital economy and its wide range of interpretations, there are no universally accepted, precise definitions and taxonomies, and the subject is delimited by a number of definitions, due to the specificities of the discipline and the approaches taken by studies in particular sub-disciplines. The digital economy is the main driver of economic growth, changing lifestyles, transforming the economy and leading to profound consequences for businesses, jobs and people. The first wave of the emergence of the digital economy can be detected in the second half of the 20th century, when it was driven primarily by the new technology itself, mainly the internet, as a widely affordable and accessible factor driving exponential growth. The future digital economy could be based on a combination of IoT (Internet of Things) and AI (Artificial Intelligence). In a general sense, the digital transformation brought about by the digital economy can be defined as the modification or adaptation of existing business models, as a result of the dramatic transformation in consumer and societal behaviour, attitudes and ways of being, as well as the dynamic pace of technological development, modernisation and innovation. Other areas of the digital economy are new digital models (digital platforms, cloud services), automation, massive data collection, data processing, data analytics, algorithm-based decision making.

  pdf (Hungarian)

  225

• The relation of the circular economy to the social dimension of sustainability

  80-89

  Máté Kriza

  Views:

  231

  The concept of the circular economy offers several environmental and economic benefits, such as reducing the generation of waste, reducing the use of natural resources, increasing the resource efficiency of production, or the promotion of the durability, repairability and extended utilization of the products. The academic research related to this new concept has focused primarily on these two pillars of the sustainable development in the past one and a half decade, while much less attention has been paid to the social dimension. As the positive environmental and economic impacts of the circular economy can be relatively well-defined and quantified, in case of social consequences there is much more uncertainty, and the measurement also faces many difficulties. Therefore, it is worth investigating more closely the possible social implications of this new and constantly evolving economic and technological concept. In my paper I seek to explore this issue by reviewing the relevant international literature and presenting some domestic and foreign examples.

  pdf (Hungarian)

  206

• The entrepreneurial willingness and motivations of university students

  90-102

  Mátyás Troitsky

  Zoltán Gabnai

  Adrián Szilárd Nagy

  Views:

  204

  In recent decades, the concepts of creativity, innovation and entrepreneurship have become key players in modern economic development and have received increasing attention both in the European Union and in our country. At present, the SME sector accounts for more than half of the workforce, which is why it is important to monitor their development and performance, as they have a significant impact on the performance of the domestic economy, and thus entrepreneurship and the promotion of entrepreneurial activities are a priority economic policy issue, and can contribute significantly to economic growth, job creation and the competitiveness of the country. As a result of our research on entrepreneurship and its determinants, it can be concluded that entrepreneurship depends on a number of factors, including personal characteristics, attitudes, motivations, educational and cultural background, economic and legal environment, market opportunities and challenges. The results show that more than 90 percent of university students have a positive attitude towards entrepreneurship and nearly 10 percent of them already have a business during their university years. Among the personal motivational factors, the most common responses from those surveyed were financial security, self-fulfilment and social recognition and challenge. This suggests that university students perceive self-employment as more stable than employment. The high influencing factors of self-fulfilment and challenge factors clearly show that university students are not self-employed by necessity, but would start a business for a good business opportunity, to achieve their own plans and goals. The most negatively influencing factors for starting a business according to respondents are financial risk, lack of start-up capital and lack of information, all of which could be addressed by government grants and start-up tenders and other funding opportunities. Despite the fact that the vast majority of students are open to starting a business, very few are aware of the public grants and other funding opportunities available to support entrepreneurship. When asked whether they would like to receive information on starting a business or developing a business idea in the future, nearly 90% of students would like to receive information in the context of compulsory university courses, optional courses and dedicated events.

  pdf (Hungarian)

  160

• The phenomenon of global climate change and its consequences from a regional and sectoral perspective

  103-114

  Balázs Herczeg

  Éva Pintér

  Views:

  167

  Global climate change poses a significant threat to the planet and our well-being, with carbon emissions being a key contributing factor. The aim of this article is to delve into the complex system of factors influencing carbon emission trends among key countries, examine sectoral differences contributing to such emissions and understand the global actions taken to mitigate the climate change. For this purpose, both quantitative and qualitative research were conducted, and several statistics were used to provide a comprehensive insight on the subject. We have found that while industrialized countries have historically been major contributors to carbon emissions, the rapid economic growth and industrialization witnessed in China and other developing countries mainly in Asia have led to significant increase in their emissions in recent decades. Furthermore, not only regional but sectoral differences could be spotted as the energy sector, where fossil fuels remain a dominant source of energy despite growing efforts to transition to renewable sources, contribute the most to carbon emissions. Lastly, international climate conferences, such as the landmark Paris Agreement, as well as the current energy strategy in EU have sought to mobilize global and regional efforts to mitigate climate change and achieve net zero emissions.

  pdf (Hungarian)

  135

• Mapping online shopping and electronic payment behaviour with the UTAUT model - literature review

  115-125

  Edina Piros

  András Fehér

  Views:

  310

  The literature identifies several theories and frameworks for assessing user acceptance and adoption of new technologies, of which the TAM (Technology Acceptance Model) and its extensions, and the UTAUT (Unified Theory of Acceptance and Use of Technology) are the most popular. Several studies confirm that the UTAUT model has proven to be effective in investigating the causal relationships between behavioral intentions. In the literature review, we aimed to explore, alongside specific parameters, which dependent and independent variables are relevant to investigate individuals' attitudes towards online shopping and electronic payments. In addition, we aimed to explore how the basic UTAUT model could be complemented to increase the effectiveness of the study. By acquiring the relevant literature background, we laid the foundation for the implementation of our primary research, which aims to map the online shopping and electronic payment behavior of university students using the UTAUT model. The literature review concluded that the variables of the basic UTAUT model should be extended to include perceived trust and risk, as well as service quality and awareness. If users believe that a technology will improve their performance, they are more likely to adopt and use it. Individuals are more likely to adopt a new technology if it is easy to use. This is determined by user interfaces, user-friendliness, the complexity of the tasks required to use the technology, and the perceived ease of interaction. The way in which individuals relate to a new technology or system is also influenced by the social circles in which they participate.

  pdf (Hungarian)

  159

• INDEX OF THE CYCLE OF MONEY - THE CASE OF HUNGARY

  126-135

  Constantinos Challoumis

  Views:

  104

  This paper has mounted the index of the cycle of money. According to the idea of the cycle of money, it is tested if an amount of cash is recycled inside the financial system in a variety of instances or if this amount of cash is misplaced from a financial system to different economies or banks abroad, due to the now no longer good enough structure of the financial system of the country. The reason for the paper is to expose the utility of the case cycle of money, right here for the case of Hungary. Therefore, this work goal is to make clear how the concept of the cycle of money, works in an actual case scenario and is well known how the cycle of money applies to an economic system. Moreover, the index of the cycle of money suggests how an economic system ought to counteract a monetary crisis and how well-structured it is. The estimations of the index of the cycle of money in the case of Hungary are compared with the global average index of the cycle of money. The estimations indicate as expected that Hungary is above the average global value. Hungary's findings reveal that it is a well-structured economy and can face an economic crisis. Prior papers are from the case of Latvia, Serbia, Greece, Bulgaria, Ukraine, Thailand, and Poland. This work is part of a project for multiple countries. The results are the first in the bibliography about the cycle of money of Hungry through the application of this theory.

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  82