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An analysis of the relationships among NASDAQ Baltic stock exchanges: VAR approach

100%
Zięba Ł.
Central European Review of Economics & Finance
|
2021
|
vol. 34
|
issue 3
51-65
EN
The author examines the relationships among three stock exchanges of selected Baltic countries: Latvia, Estonia, and Lithuania. The respective stock exchange indexes are used as variables, OMXR for Latvia, OMXT for Estonia, and OMXV for Lithuania. The regression equations are estimated with the use of Vector Autoregressive (VAR) model. The author employs 80 observations for the sample period from2002 Q1 to 2021 Q4. After determining the optimal lag order, the impulse response function is calculated. The variance decomposition is carried out subsequently. A causality among the stock exchanges in question is determined.
2

Examining multi-level effects on corporate social responsibility and irresponsibility

88%
Mazzei M. J., Gangloff A. K., Shook C. L.
Management & Marketing
|
2015
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vol. 10
|
issue 3
163-184
EN
What influences firms to engage in socially responsible (irresponsible) activities? Corporate social responsibility (CSR), the efforts of firms to create a positive and desirable impact on society, and corporate social irresponsibility (CSI), contrary actions of unethical behavior that negatively influence society, have become an important focus of discussion for both corporations and scholars. Despite this interest, our understanding of organizations’ socially responsible (irresponsible) actions and their antecedents is still developing. A dearth of knowledge about the multi-level nature of the drivers of CSR and CSI continues to exist. Utilizing a longitudinal sample composed of 899 firms in 66 industries, we follow a prominent model to empirically examine industry-, firm-, and individual-level effects on CSR and CSI. Employing variance decomposition analysis, our results confirm that all three levels of investigation do indeed influence CSR and CSI. More substantively, our analysis estimates the magnitude of the effects attributable to each of the three levels for both CSR and CSI. We also compare multi-level influences on two separate CSR strategies, those targeting primary stakeholders (strategic CSR) and those targeting secondary stakeholders (social CSR). We find greater industry- and firmlevel effects on social CSR, and higher individual-level effects on strategic CSR. Our results build on the conceptual work of previous authors by providing empirical analyses to confirm multilevel influences on CSR and extending prior multi-level theory to the concept of CSI. Further, we add to the emerging literature regarding stakeholder demands by examining the various influences on CSR strategies targeting different stakeholder groups.
3
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Determinanty wzrostu polskich przedsiębiorstw giełdowych

63%
Grinberger P., Nehrebecka N.
Ekonomia. Rynek, Gospodarka, Społeczeństwo
|
2015
|
issue 43
41-65
PL
Artykuł podejmuje problematykę wzrostu polskich przedsiębiorstw niefinansowych w latach 1998−2012. W pierwszej części omówiono teorie wzrostu przedsiębiorstw oraz dokonano przeglądu aktualnych badań empirycznych. W części badawczej zaprezentowano analizę czynników wzrostu polskich spółek giełdowych, wykorzystując systemowy estymator Uogólnionej Metody Momentów. Zastosowano również dynamiczny model probitowy w celu oceny wpływu poszczególnych zmiennych na prawdopodobieństwa zostania firmą ponadprzeciętnie rosnącą. Wyniki wskazały kluczową rolę innowa- cyjności w zapewnianiu szybkiego wzrostu przedsiębiorstw w Polsce. Dodatkowo, przeprowadzono dekompozycję wariancji wzrostu w podziale na charakterystyki makroekonomiczne, strukturalne oraz finansowe analizowanych firm.
EN
The article concerns the issue of Polish listed companies growth in 1998−2012. The first part discusses the theories of enterprises growth and a review of current empirical research. In the research part we presented an analysis of the factors affecting growth of Polish listed companies using the Generalized Method of Moments system estimator. Moreover, dynamic probit model was used to assess the impact of each variable on the chances of becoming a fast growth firm in Poland. Results revealed the key role of innovation in ensuring rapid growth of Polish firms. In addition, the decomposition of firmsʼ growth variance was done, including both macroeconomic, structural and financial variables.
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