Search Results

• Profitability of exponential and simple moving average crossover strategy and the profitability of trend trading

  34-42

  Balázs Fazekas

  Views:

  94

  The study focused on trading based on the signals of indicators, specifically examining a strategy using moving average crossovers. One of the main purposes of the paper was to analyse the efficiency differences between the simple and exponential moving average crossover strategies. Additionally, the study explored the impact of trend-following trading on the performance of indicators. The research tested the performance of indicators using the example of companies with the highest market capitalization. The main conclusion of the article is that there was no superior indicator in cases of the examined stocks. Furthermore, during periods of predominantly rising trends, the buy-and-hold strategy outperformed the active trading strategy based on indicators.

• FINANCIAL ANALYSIS OF LISTED COMPANIES OF VISEGRAD COUNTRIES AND ROMANIA

  8-17

  Gabriella Koszorús

  Views:

  195

  In this study, listed companies of 5 countries (Hungary, Slovakia, Poland, Czech Republic, and Romania) were analyzed between 2014 and 2018. The data was downloaded from www.EMIS.com. Financial institutions and companies with too many missing data and those that were not full period listed on the stock exchange were removed from the dataset. The main aim of the research was to compare the performance of the listed companies on the stock exchanges of countries examined. First, there was analyzed performance indicators, then market indicators. Using variance analysis, there was investigated the differences between countries based on ROS, ROA, ROE ratios, which then was expanded to include some market ratios. Based on the results, it can be stated that due to the difference in the number of listed companies and the size of the companies, large variations can be observed both within and between countries. No best country can be determined because almost all of the indicators perform better in different countries during the period examined. It is important to note that earnings per unit capital are the highest in Hungary and the Czech Republic, so investors are likely to expect higher returns in these countries. During the analysis of variance, there could not be found in many ratios with significant differences between countries over the years investigated.

• The State of the Bulgarian Agricultural Sector in the First Period (2007-2013) of the EU Membership

  54-60

  Paulina Puskásné Jancsovszka

  Views:

  85

  With Bulgaria joining the European Union in 2007, the Common Agricultural Policy (CAP) has become a decisive factor for the Bulgarian agriculture. The introduction and implementation of the CAP is far from optimal; positive and negative effects are both present. The performance of the agricultural sector in Bulgaria is not living up to its potential. Despite the subsidies received by the sector (more than 4 billion BGN), and the increasing national contributions between 2007 and 2013, its efficiency and profitability indicators have declined, and it remained at a low level of competitiveness. The processes of land concentration have accelerated. The SAPS subsidies are disproportionate and they prevent the shift to market orientation. The SAPS system caused
  structural disharmony in the sector; the production of cereals and oilseeds has become predominant to livestock and fruit, and vegetable production. These problems can hardly be solved by the new CAP.

• DIGITALIZATION CHARACTERISTICS OF THE CONTROLLING AREA OF COMMERCIAL ENTERPRISES

  49-59

  Péter Bajnai

  Views:

  155

  One of today’s most important social and economic phenomena is the fourth industrial revolution, the effect of which is that digitalization can significantly transform business processes. The corporate controlling area cannot avoid transformation either, its methods and tools will change. Just as controlling itself, its changes can also differ between sectors, especially in the extremely diverse service sector. The aim of the research is to examine, on a domestic sample, whether there are differences in this respect between companies with a main commercial activity and the rest of the service sector. The data of the questionnaire research conducted with 46 controllers and managers were evaluated by means of cross-tabulations, averages and statistical tests. There are no differences in the digital development of the key performance indicators that form the basis of controller work, in the use of ERP systems, automation solutions and language algorithms. In the commercial group of the sample, the use of business intelligence tools providing advanced planning and analysis options is significantly more common. The two groups of the sample do not differ in terms of the factors encouraging the digitalization of the controlling area, but the companies with a commercial main activity differ in terms of the importance of the factors hindering the process: they are more averse to new technologies, more afraid of their usual positions, but perceive the financial aspects of the development to be less important.

• The Economy Contexts of the Modern Growing of Corn

  254-259

  Árpád Ferencz

  Views:

  105

  The cereals are the most important and most determining cultivated plants of the world and our homeland. Their importance manifests itself in the fact that corns in the ear and corn occupy collectively 50%- of the world's tillage areas and 66-68% of the tillage areas of our homeland. The competitiveness of the cultivation to a great extent depends on the modernity of the production, which is especially valid for our homeland. So I intended to analyse the economic situation of one of the most important cereals, the corn through the activity of a family economy working well. I examine the modern corn growing technology in my work. I present the operations belonging to the technology applied by the economy and I outline the operation norms. I calculate the expenses arising in the interest of corn growing, I define the material costs incurred, the personal expenses, the amortisation and other expenses. I calculate the income from the sales of corn growing with and without support and I also calculate the main capital efficiency indicators.

• EXAMINING THE RELATIONSHIP BETWEEN HOUSEHOLD WASTE AND WELL-BEING IN THE CONTEXT OF HUNGARIAN SETTLEMENT STRUCTURE

  32-40

  Tamas Szabo

  Szilárd Végh

  Views:

  105

  In recent years, the circular economy has become an important objective of the environmental protection and economic policy of the European Union. As part of this, waste processing and disposal has a cardinal feature due to the reduction of the environmental load, in the same way, the trends of the consumer society pose a serious challenge to the reduction of the environmental load. The present study looks for the answer to what kind of relationship can be identified between the generated waste, the solvent demand and the concentration of residential health by analyzing the generated household waste and individual welfare indicators. To establish this, the authors use concepts accepted and applied in international statistical life, as well as statistical tests performed on primary data.

• Historical-Conceptual Synopsis of the Vocational Training Policy of the European Union : történeti-konceptuális áttekintés az EU szakképzési politikájáról

  69-84

  Tamás Fülöp

  Views:

  80

  According the latest educational statement of the European Union, the EU wants to become the most competitive area of the world as soon as possible. The economic, social and educational indicators of the EU prove that this goal is far away at present. Consequently, to implement the objective, it is necessary to redefine the policy on education, particularly of the vocational training system in the European Union. The essay would like to give a short survay of the Vocational Training Policy of the European Union in the last 25 years.

• Company analysis and comparison of the assets and short-term financial situations of Dreher Sörgyárak Zrt. and Heineken Hungária Sörgyárak Zrt. based on annual reports

  Bence Bárczi

  Views:

  107

  Abstract

  Hungarian brewing has a long tradition, which is why this iconic drink is so popular in our contemporary society. The topic of the following article is the company analysis and comparison of the assets and short-term financial situations of Dreher Sörgyárak Zrt. and Heineken Hungária Sörgyárak Zrt. based on annual reports because with this we can get an answer to the outstanding success of these companies. I collected the data necessary for the indicators for the last 5 years, so that I could get a fresh and comprehensive picture of the companies' operations.

• An economic study of a solar collector investment project with specific aspects of energy saving

  121-124

  Zsolt Hollósy

  Nóra Hegedűsné Baranyai

  Arnold Gór

  Views:

  95

  The energy saving properi es of an exisi ng solar collector investment has been assessed based on factual data and stai si cal methods. The seasonality of electricity, water and gas consumpi on has been determined. The number of guest nights, the electricity and gas consumpi on showed a strong and a moderate correlai on. The costs saved did not live up to the expectai ons, which makes the return indicators signifi cantly worse. The discrepancy may be due to the system being designed to be bigger than reasonable or the great energy loss as well. The lat er may be because of the distance between the collectors and the hot water containers. The system may have calibrai on problems as well. The whole area brings about saving an amount of energy that equals to HUF 851000, which translates into 8788 m3 of natural gas. The decrease of CO2 emission should come to 16.26 t. on an annual average.

• ANALYSIS OF THE OPERABILITY OF CORPORATIONS OWNED BY LOCAL GOVERNMENT WITH BANKRUPTVY MODELS

  61-68

  Petronella Molnár

  Views:

  135

  The operability of Hungarian public utility corporations are presented in the treatise. During the study, I analyzed the liquidity and equity ratio of corporations performing public functions, according to three years. I compared these values with the results calculated of bankruptcy prediction models (Chinese and Indian models). As a result of the investigation, we could realize that the bankruptcy prediction model shows a considerably more pessimistic picture than the values of the indicators.

• Branding Hungary as a Health Tourism Destination: Asynchrony Problems

  68-72

  Attila Lengyel

  Views:

  125

  Branding a country as an attractive tourism destination is an extremely complex and long-term endeavour. There are several brand assessment systems using diverse methodology for creating brand indices for countries. In the Bloomberg brand indexing system Hungary is ranked 20th in Europe and by Future Brand 23rd in 2014. These placements are indicators of a relatively poor performance of Hungary as a nation brand and warrant an integrated image building effort
  independent from the changing political power structure. There are certain basic principles to adhere to in branding a tourism destination be it settlement, regional or country level. One of the keys to succesful branding is synchronising marketing efforts on different levels. Asynchronous communication and strategies lead to confusion in image perception, hence the weakening of the brand. The present paper aims to examine some of the asynchronies in the branding of Hungary as a health tourism destination.