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Human capital as the growth factor in regional competitiveness

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Kogut J., Brożek K.
Central European Review of Economics & Finance
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2017
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issue Vol. 22, No 6
57-70
EN
In the recent years, the world economy has undergone an enormous transformation. It can be noted that it is not only based on industry, but also on knowledge. Achieving a competitive advantage by regions is further focused on investing in fixed assets, but, what is also important, in human capital. At present, a factor that is increasingly important in achieving competitiveness is the ability to use intangible resources. Expenditures on education and research, investing in people, their knowledge and skills are an essential precondition of raising competitiveness. In the case of a highly qualified staff, it allows the efficient introduction of new technologies and the creation of new directions for its development. The competitiveness of the regions is influenced, inter alia, by human talents, knowledge, entrepreneurship, initiative and own resources to improve living conditions. Human capital is thus a key determinant of the competitiveness of regions in Poland. Therefore, the priority of this article is to analyze the impact of selected components of human capital on the competitiveness of regions in Poland in the years 2007-2014. The article is both theoretical and empirical. The first part reviews the literature closely related to the topic of the work. The second part includes a statistical analysis and a construction of a panel model estimated by the method of least squares. GRETL program was used for calculations.(original abstract)
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Econometric analysis of selected factors of innovative companies activity in the polish economy

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Brożek K., Kogut J.
Central European Review of Economics & Finance
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2016
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issue Vol. 16, No 6
45-55
EN
Today, a particularly important role in the functioning and development of enterprises plays innovation. This is understood as the ability to create innovative space capable to the creation and diffusion of innovation. Nowadays, a thriving innovation activity is identified with the achievement of business success in the economic arena. With this in mind it is worth exploring the determinants of innovation. It is therefore this article was proposed. The study analyzed the impact of GDP, internal expenditure on R&D and capital expenditures on the size of innovative activities of enterprises located in the sixteen Polish provinces. The research was limited to a period of seven years, i.e. from 2008 to 2014. The aim of this article is therefore to determine the level of significance of some factors influencing the size of innovation activities in Polish enterprises. To achieve the objective the analysis of statistical data was carried out and the panel model calculated by the classical method of least squares was built. Conducted tests will verify three research hypotheses. The software GNU Regression Econometric and Time-Series Library - GRETL was used for calculations.(original abstract)
3
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Wpływ struktury kapitału na rentowność przedsiębiorstw sektora produkcyjnego, handlowego i usługowego

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Baran A.
Studia Ekonomiczne
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2017
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vol. 341
9-20
PL
Celem niniejszego artykułu było skoncentrowanie się na zbadaniu zależności pomiędzy strukturą kapitału a rentownością polskich spółek notowanych na Giełdzie Papierów Wartościowych z sektora produkcyjnego, usługowego i handlowego. Badania empiryczne oparto na analizie sprawozdań finansowych 300 spółek. Dla każdego sektora określono 100 spółek, w których uwzględniono dane z 2015 r. i na podstawie których oszacowano parametry strukturalne funkcji regresji. Uzyskanie właściwego oszacowania zależności wymagało zbadania relacji nieliniowej, aproksymowanej metodą najmniejszych kwadratów w celu uzyskania możliwie najlepszej oceny, przy pełnej interpretacji uzyskanych wyników. Przedmiotową analizę dopełniły zmienne kontrolne w postaci zależności pomiędzy rentownością a kwadratem oceny zadłużenia, zyskiem z działalności operacyjnej, wartością księgową, kapitalizacją rynkową, kwadratem marży zysku brutto, logarytmem wskaźnika cen wartości księgowej.
EN
The purpose of this article was to focus on examining the correlation between the capital structure and the profitability of Polish companies listed on the Stock Exchange in the manufacturing, service and trading sectors. Empirical research was based on analysis of the financial statements of 300 companies. For each industry, 100 companies were included taking into account data from the year 2015 and based on which the structural parameters of the regression function were estimated. Obtaining a proper estimation of the correlation required a nonlinear relation, approximated by the least squares method, to obtain the best possible estimate, with a full interpretation of the obtained results. This analysis was supplemented by control variables in the form of the correlation between profitability and debt assessment squared, operating profit, book value, market capitalisation, profit margin squared, and the logarithm of the prices/book value ratio.
4

Empirical Analysis of the Phillips Curve and Okun's Law Through Simultaneous Equation Modeling: a Case Study of Pakistan

100%
Umer M., Galadima M. D., Abbasi B. N.
Ekonomista
|
2021
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issue 3
418-439
PL
Zgodnie z krzywą Phillipsa istnieje odwrotna zależność między inflacją i bezrobociem. Zgodnie z prawem Okuna istnieje odwrotna zależność między wzrostem potencjalnej produkcji a bezrobociem. Autorzy próbują sprawdzić, czy zależności te występują w gospodarce Pakistanu, sprawdzając tym samym adekwatność tych zależności dla tej gospodarki. W tym celu analizują zależności między kilkoma zmiennymi makroekonomicznymi, takimi jak stopa inflacji, stopa bezrobocia, stopa wzrostu PKB per capita i stopa wzrostu ludności, na danych rocznych z okresu 1985-2017. Szacując odpowiednie modele równań jednoczesnych za pomocą pośredniej techniki najmniejszych kwadratów, z wykorzystaniem różnych testów statystycznych, autorzy dochodzą do wniosku, że zależność postulowana przez krzywą Phillipsa da się zaobserwować w gospodarce Pakistanu, ale wyniki analizy nie potwierdzają występowania zależności postulowanej przez prawo Okuna.
EN
According to the Phillips curve, there is an inverse relationship between inflation and unemployment. According to the Okun's law, there is an inverse relationship between potential output growth and unemployment. The paper tries to check whether these interdependencies are seen in the Pakistan's economy, thus testing the relevance of both dependencies for that economy. With this aim, the authors analyse the relationships between several macroeconomic variables, such as inflation rate, unemployment rate, GDP per capita growth rate, and population growth rate, using annual data of the period 1985-2017. By employing the respective simultaneous equation models (SEM) estimated with the indirect least square technique (ILS) and using various statistical tests, the authors conclude that the relationship postulated by the Phillips curve can be observed in the Pakistan's economy, but the results of the examination do not confirm the occurrence of the relationship postulated by the Okun's law.
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