Search results

1

Monopolistic Competition and Price Discrimination as a Development Company Strategy in the Primary Housing Market

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Łaszek J., Olszewski K., Waszczuk J.

Critical Housing Analysis

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2016

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vol. 3

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issue 2

1-12

EN

Firms operating in the property sector use information asymmetry and the local monopoly to differentiate prices of housing units. Selling similar housing to purchasers at various prices allows them to maximize profits. The aim of this article is to analyze empirically the behavior of developers, that shape the market situation. It is necessary to depart from the classical analysis of enterprises that operate in a free and competitive market and produce typical, homogeneous goods. We analyze firms that produce heterogeneous goods and make individual trans-actions with each client. We use the hedonic regression to compare the theoretical and empirical prices per sq. m. of dwelling in the primary market in Warsaw and find significant dispersions. The price discrimination strategy, can be one of the explanations of the observed high, upward elasticity of prices.

2

Asymetria informacji w modelu pryncypał-agent – wyniki badań eksperymentalnych

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Bernat T., Hawran K., Kowalik J.

Przedsiębiorstwo i Region

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2016

|

issue 8

65-75

EN

The purpose of this article is to analyze the classical assumption that in the absence of suf-ficient information in the market transaction there is a problem of asymmetry. In addition it verified the assumption that you understand the transaction allows the Company to take further decisions – less risky. In the presented article first defines the concepts of asymmetric infor-mation and a description of the model pryncypał-agent. Then pointed out the methodology of the experiment and describes the test result. The final part of the article presents the conclu-sions. The study was based on economic experiment carried out on a random sample of stu-dents of third degree at the Faculty of Economics and Management in Szczecin. Results of this study demonstrated the occurrence of the phenomenon of information asymmetry. It confirmed the situation in which one party had more information than the other to a diverse range, which resulted in a favorable decision making.

3

Using CSR to mitigate information asymmetry in the banking sector

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Semenescu A., Curmei C. V.

Management & Marketing

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2015

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vol. 10

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issue 4

316-329

EN

The paper examines the power of corporate social responsibility to reduce information asymmetry and to act as a marketing instrument in the banking sector. Trust is the most important asset of a bank. Therefore, banks are motivated to use the most effective instruments to diminish information asymmetry with their stakeholders. The fact that cash disbursements in CSR actions are not directed towards shareholders makes them more valuable signals to other stakeholders regarding the financial soundness of the bank. The empirical study conducted based on limited dependent variable models supports the effectiveness of the CSR as marketing instrument in banking. It reveals the circumstances associated to a higher probability of an active CSR policy conducted by a banking institution. The results support the hypothesis that in the banking sector CSR is perceived as an instrument which helps stakeholders reduce information asymmetry. As marketing instrument, CSR contributes to increasing the tangibility of the banking products, decreasing their perceived variability and thus making them more attractive for the clients and allowing for differentiation between competitors.

4

Model przyczynowy zjawiska asymetrii informacji w informatycznym przedsięwzięciu wdrożeniowym

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Wachnik B.

Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia

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2018

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vol. 52

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issue 2

EN

The author’s research to date has shown that information asymmetry constitutes a critical success factor both for the client and the supplier in IT information projects. Literature confirms that the phenomenon of information asymmetry between the client and the supplier in IT projects is hard to measure due to problems in accessing credible information and the lack of established methods. Hence, it is important to study the phenomenon of information asymmetry and to understand the conditioning that affects it. The aim of the article is to present a model describing the causes of information asymmetry in IT implementation projects completed through outsourcing. The author studies information asymmetry in the project life cycle of ERP, CRM, BI and DM systems. The conclusions may be interesting both for economic practitioners and for theoreticians of business economics.

PL

Dotychczasowe badania autora wykazały, iż asymetria informacji stanowi krytyczny czynnik sukcesu zarówno dla klienta, jak i dostawców wśród informatycznych przedsięwzięć wdrożeniowych. Literatura przedmiotu potwierdza, że zjawisko asymetrii informacji pomiędzy dostawcą a odbiorcą w projektach informatycznych jest trudno mierzalne z powodu ograniczonego dostępu do wiarygodnych informacji i braku opracowanych metod. Dlatego istotne jest poznanie zjawiska asymetrii informacji w projektach informatycznych oraz zrozumienie uwarunkowań wpływających na to zjawisko. Celem niniejszego artykułu jest przedstawienie modelu opisującego przyczyny występowania zjawiska asymetrii informacji wśród informatycznych przedsięwzięć wdrożeniowych realizowanych w oparciu o outsourcing. Autor bada asymetrię informacji w cyklu życia projektu wśród systemów klasy ERP, CRM, BI oraz DMS. Konkluzje mogą być interesujące i dla praktyków gospodarczych, i dla teoretyków informatyki ekonomicznej.

5

Credit Market Imperfections in the Theory of Credit Rationing

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Ślązak E.

Finansowy Kwartalnik Internetowy e-Finanse

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2011

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vol. 7

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issue 4

76-91

EN

The article aims at comparative analysis of the nature and dimensions of credit rationing on the grounds of theory of finance. The paper identifies the essence of credit rationing through the prism of its most important endogenous and exogenous prerequisites, assuming the lack of adequate instruments that could be used by banks to individually select borrowers (the so-called screening devices) in conditions of their heterogeneous risk-related breakdown. The paper points out the scope of idiosyncratic attributes of the credit market which prevent it from achieving a state of Walrasian equilibrium, which leads to petrification of credit market imperfections (credit market failure).

6

Asymetria informacji w handlu elektronicznym

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Czaplewski M.

Ekonomista

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2016

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issue 5

727-751

PL

Celem artykułu jest przedstawienie wpływu cech handlu elektronicznego (e-commerce) na możliwości pozyskiwania informacji o sprzedawcach i kupujących, i na asymetrię informacji posiadanych przez uczestników obrotu rynkowego. Postawiona została następująca hipoteza badawcza: e-commerce, wykorzystując internet i usługi internetowe, zapewnia kupującym i sprzedawcom nowe źródła informacji rynkowej i sprzyja redukowaniu asymetrii informacji między nimi. Dla weryfikacji postawionej hipotezy wykorzystano: metodę krytycznej analizy literatury, metodę analizy przyczynowo-skutkowej, metody analizy porównawczej i metodę syntezy. Przeprowadzona analiza wskazuje, że użytkownicy e-commerce mają dostęp do różnych źródeł pozyskiwania informacji rynkowych na temat partnerów transakcji. Nawet częściowe wykorzystanie tych informacji wzmacnia wiedzę każdego użytkownika na temat kontrahentów. Dając kupującym szerokie możliwości pozyskiwania informacji o sprzedających i ich ofertach, e-commerce sprzyja ograniczeniu asymetrii informacji, wzmacniając pozycję rynkową kupujących. Zmniejszenie asymetrii informacji pomiędzy stronami transakcji sprzyja ograniczeniu występowania na rynku takich niekorzystnych zjawisk jak negatywna selekcja i pokusa nadużycia. Upowszechnienie wiedzy na temat e-commerce może przyczynić się do dalszego dynamicznego rozwoju tej formy handlu.

EN

The purpose of this article is to present the influence of e-commerce on the ability to obtain information about sellers and buyers, and on information asymmetry in the market. The research hypothesis is that e-commerce, via the Internet and with Internet tools, provides new sources of market information for sellers and buyers and helps to reduce information asymmetry between them. The following research methods were used: critical review of the literature, cause and effect analysis, comparative analysis and synthesis. The analysis shows that users of e-commerce have access to different sources of market information about their transaction partners. Even partial use of this information strengthens user’s knowledge about trade partners. E-commerce, giving buyers the possibility to obtain information about sellers and their offers, reduces information asymmetry and improves the market position of buyers. Reducing information asymmetry between the sides of a transaction helps to limit the scope of negative market situations, such as adverse selection and moral hazard. The common use of knowledge about e-commerce can lead to the dynamic development of this kind of trade.

RU

В статье описывается влияние характерных особенностей электронной торговли (e-commerce) на возможность получения информации о продавцах и покупателях и на асимметрию инфор- мации, имеющейся в распоряжении участников рыночного оборота. Выдвигается следующая исследовательская гипотеза: e-commerce, используя интернет и услуги интернета, обеспечивает покупателям и продавцам новые источники рыночной информации и способствует сокращению асимметрии информации между ними. Для проверки выдвинутого тезиса были использованы: метод критического анализа литературы, метод причинно-следственного анализа, методы срав- нительного анализа и метод синтеза. Проведенный анализ указывает, что пользователи e-commerce имеют доступ к разным источникам поиска рыночной информации относительно партнеров сделки. Даже частичное ис- пользование этой информации расширяет знания каждого пользователя на тему контрагентов. Предоставляя покупателям широкие возможности приобретения информации о продавцах и их предложениях, e-commerce способствует ограничению асимметрии информации, укрепляя ры- ночную позицию покупателей. Сокращение асимметрии информации между сторонами сделки способствует ограничению наличия на рынке таких неблагоприятных явлений как отрицательная селекция и провоцирование злоупотреблений. Распространение знаний на тему e-commerce мо- жет способствовать дальнейшему динамичному развитию этой формы торговли.

7

Asymetria informacji na rynku turystycznym

100%

Panasiuk A.

Ekonomista

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2016

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issue 5

752-765

PL

W klasycznym ujęciu asymetria informacji dotyczy relacji pomiędzy sprzedającymi i kupującymi na określonym rynku. Przewaga informacji po jednej ze stron rynku może prowadzić do sytuacji, w których nie dochodzi do transakcji lub w której jedna ze stron ocenia zawartą transakcję jako nie w pełni korzystną. Współczesny rynek, obok typowych transakcji kupna-sprzedaży, obejmuje także oferty oraz różne działania pseudotransakcyjne i pozatransakcyjne. Wszystkie one kształtowane są w warunkach asymetrii informacji. Artykuł omawia różne rodzaje asymetrii informacji występujące na współczesnym rynku turystycznym i proponuje pewną klasyfikację jej form. Uwzględnione zostały przejawy asymetrii informacji między różnymi podmiotami rynku turystycznego w zakresie transakcyjnym, pseudootransakcyjnym i pozatransakcyjnym. Wskazano też na możliwości i sposoby ograniczania asymetrii informacji. Zaproponowany sposób analizy zagadnień asymetrii informacji może mieć także zastosowanie w analizie przejawów tego zjawiska na innych rynkach branżowych.

EN

In the classical approach, information asymmetry refers to the relations between sellers and buyers in a given market. Information advantage on the one part of the market can lead to situation, in which the deal cannot be completed, or one of the two parts considers the transaction as not fully satisfactory. The contemporary market comprises typical purchase and sale transactions sale offers, as well as some pseudo-contractual and non-contractual deals. All of them subject to information asymmetry. The paper discusses various kinds of information asymmetry seen in the tourist market and proposes a classification of its forms. The author also indicates the possibilities and ways of reducing the scope of information asymmetry. The proposed way of analysing information asymmetry may also be used in the analysis of this phenomenon in other branch markets.

RU

В классическом представлении асимметрия информации касается отношений между продавцами и покупателями на определенном рынке. Перевес информации у того или другого участника может вести к срыву сделки или к оценке сделки одной из сторон как не вполне выгодной. Современный рынок, кроме типичных сделок купли-продажи, охватывает также оферты и раз- личные действия типа псевдосделок и вне сделок. Все они формируются в условиях асимметрии информации. В статье обсуждаются разные виды асимметрии информации, имеющие место на современ- ном туристическом рынке и предлагается определенная классификация ее форм. Авторы учли проявления асимметрии информации между разными субъектами туристического рынка в обла- сти сделок, псевдосделок и вне сделок. Было указано также на возможности и способы ограниче- ния асимметрии информации. Предложенный способ анализа вопросов асимметрии информации может иметь также применение в анализе такого рода проявлений на рынках других отраслей.

8

Asymetria informacji a transakcje wiązane

100%

Prokop J., Baranowska-Prokop E.

Gospodarka Narodowa. The Polish Journal of Economics

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2006

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vol. 209

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issue 7-8

9-25

EN

The article sets out to determine if tie-in transactions can be a more favorable form of buying capital goods for enterprises than ordinary market transactions in the event of an information asymmetry. The authors present a model situation in which an enterprise from a less developed country decides to buy technology from a company based in a highly developed country. The quality of the technology is unknown to the buyer, who has two forms of transactions to choose from: a market transaction or a tie-in. The authors prove that in the event of considerable uncertainty about the quality of the technology involved, tie-ins may be the preferred form of trade. Such transactions play the role of specific insurance in case the technology purchased proves to be of substandard quality. Tie-in transactions are a reliable signal of the quality of capital goods if there is an information asymmetry between the seller and the buyer. They represent a rational response to conditions limiting market exchange.

9

Przyczyny deficytu finansów publicznych w świetle nowej ekonomii politycznej

100%

Mackiewicz M.

Gospodarka Narodowa. The Polish Journal of Economics

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2006

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vol. 206

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issue 3

1-22

EN

The article examines mechanisms governing public finance and budget deficits in democratic countries as well as tendencies toward an increase in the overall level of public spending. The analysis is based on a dynamic theoretical model that focuses on households and their behaviors to maximize benefits resulting from the consumption of public goods. Households are divided into two groups depending on their preference for a specific type of public goods. The point of reference is an analysis of a social planning procedure designed to maximize social benefits by choosing an appropriate level of the deficit and spending on individual public goods. The institutional framework of the model is subsequently modified in two ways. The first method involves a decision-making process based on an independent choice of the consumption level for public goods by individual groups of households. The second method involves decisions made by authorities and politicians motivated by a desire to secure reelection. At the same time, the author examines what he calls “information asymmetry” in the budgetary process. An analysis of the presented model reveals that both modifications lead to an excessive/suboptimal budget deficit. The first option may additionally cause an excessive level of public spending in the economy. The study points to the existence of two important mechanisms behind an excessive public finance deficit and the consequent accumulation of debt in democratic countries. The first mechanism is based on a situation in which decisions are made by many independent entities in a decentralized budgetary process. These entities are not fully responsible for the consequences of their decisions. The second mechanism involves the problem of proper representation of the people under the information asymmetry between voters and fiscal policy makers.

10

Polityka konsumencka – podstawy teoretyczne, cele i narzędzia

100%

Lissowska M.

Gospodarka Narodowa. The Polish Journal of Economics

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2010

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vol. 243

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issue 10

57-77

EN

The article focuses on the theoretical framework, objectives and tools of consumer policy. The author examines the issue on the basis of research reports focusing on consumer policy and discusses business practices in this area in OECD countries. The author shows that consumer policy is primarily based on the theory of information asymmetry, the transaction costs theory and behavioral economics. Another source of consumer policy is observation of market changes and commercial practices used, Lissowska says. The author reviews consumer policy tools used in OECD countries. The research confirms that consumer policy can help avoid the pitfalls of excessive protectionism. Consumer policy can be asymmetrical and protectionist to a minimum extent, Lissowska says. It benefits producers by helping them increase the competitive advantages of their goods and services and encouraging them to innovate. The latest economic crisis has demonstrated that consumer policy is indispensable, the author says, and that consumers should be protected from the implications of risky decisions.

11

Mediation as a new solution for solving conflicts on financial markets

100%

Broszkiewicz M.

Nauki o Finansach

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2017

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issue 4(33)

22-34

EN

The development of the financial market is usually described in terms of new instruments, institutions or integration groups. Aspects often result in a delayed increase in market participants’ confidence, as the learning process of innovation is necessary. In the meantime, the anti-conflict mediation procedure, conflicts of diverse background, allow the parties to compromise and work out agreements that also benefit the entire financial market. The article attempts to argue for the hypothesis emphasizing the role of mediation in improving the level of financial market functioning and the level of investment attractiveness of financial market players. The article shows mediation as a solution to potential conflicts, as described in the current theory of economics and finance, as well as to problems in reality. The research was based on the literature of the subject and on mediation practices on the Polish financial market. The mediation procedure present on the Polish financial market is used especially in the insurance and banking sectors as well as in public finances, contributing to raising the level of trust of the individual entities.

12

Information asymmetry, liquidity and the dynamic volume-return relation in panel data analysis

100%

Kliber P., Garsztka P.

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

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2018

|

issue 519

122-134

EN

In the paper we investigate the dynamic relation between returns and volume of individual stocks traded on the Warsaw Stock Exchange. Theoretical models suggest that this relation reveals the information asymmetry in the market and the role of private information. Unlike other works, we use dynamic regression to obtain the coefficients for 52 stocks, assuming that coefficients for individual stock can vary from month to month. Then we use panel regression with random effects to test the relationship between coefficient of information asymmetry and liquidity. We find an evidence supporting the compliance of measure of information asymmetry, especially for medium and small capitalization companies.

13

Information Asymmetry, Capital Structure and Equity Value of Firms Listed on the WSE

100%

Gralewska M., Białek-Jaworska A.

Journal of Banking and Financial Economics

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2022

|

issue 1(17)

17-41

EN

The paper investigates the impact of capital structure and information asymmetry on the value of companies listed on the Warsaw Stock Exchange. The study was conducted using the ordinary least squares (OLS) method on a sample of 273 companies in 2017 and the GMM dynamic paneldata approach with instrumental variables. Data retrieved from the Notoria, Bloomberg and Orbis databases were used. The results show that despite its impact on reducing the cost of capital, increasing debt does not lead to an increase in equity value. Therefore, the benefi ts of higher short-term leverage are limited and visible only for long-term debt. On the other hand, despite bigger information asymmetry, companies are valued higher, which means that asymmetrical information does not necessarily hurt valuation in the short term but in the long term. The results contribute to the literature on firms’ use of leverage under information asymmetry, showing higher trust in cash flow than profits in books.

14

Asymetria informacyjna. Potrzeba i znaczenie budowania relacji z inwestorami w procesie tworzenia wartości dla akcjonariuszy

100%

Wrońska E. M., Uniwersytet Marii Curie-Skłodowskiej; Wydział Ekonomiczny; Instytut Ekonomii i Finansów

Acta Universitatis Lodziensis. Folia Oeconomica

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2012

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vol. 262

EN

Information asymmetry means that investors know less than managers. There are known many different remedies in order to minimize these differences in knowledge. Some of them are enacted by law regulations. It is worth noting that public companies have special information duties. They have to announce every crucial information about company. Their financial statements are the object of thorough scrutiny made by auditors. Even though, there are many known cases that public companies use information announcing duties to convey only good news about themselves. Their aim is to bring about positive investor reactions and feelings. Many companies believe that creating shareholder value means increasing stock price. This way of thinking mixed with investors behavior proved to lead nowhere. Companies focused on shareholders value concentrated their efforts on short-term results even with harm to their future prospects. Gaining increase of stock prices doesn’t mean increase of shareholder wealth. Because this increase in stock price might be easily corrected to their real (intrinsic) value.

15

The image of a doctor in a doctor-patient relationship in the Internet era

88%

Wiertlewska J.

Scripta Neophilologica Posnaniensia

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2018

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issue 18

127-135

PL

The following paper deals with the issues of doctor’s image in the doctor-patient relationship in the Internet era and the influence of Internet on patient’s compliance. Both positive and negative standpoints have been discussed briefly, followed by a description of a research model proposed by Laugesen, Hassanein and Yufei (2015) applicable for this type of study. The study examines the impact of patients’ use of Internet health information on various elements of patient-doctor relation (including compliance) through a theoretical model based on principal-agent theory as well as the information asymmetry perspective. A pilot survey and interview study performed on one Polish doctor and a group of his patients, a specialist in Family Medicine has been described. The study carried out by three coworkers: Laugesen, Hassanein and Yufei (2015) revealed that patient-doctor concordance and perceived information asymmetry have relevant effects on patient’s compliance while patient-doctor concordance reveals a stronger relationship. The final conclusions were such that only doctor’s quality had a significant influence on the information asymmetry; the Internet health information gathered by a patient had no impact on perceived information asymmetry; the pilot study performed on the Polish physician confirms the theses presented in this paper but further investigations concerning the formerly discussed issues should be done.

16

Modelowanie zachowań strategicznych w gospodarce: Jean Tirole – Nagroda Nobla w dziedzinie ekonomii w 2014 r.

88%

Noga A.

Ekonomista

|

2015

|

issue 1

129-144

PL

W artykule autor próbuje pokazać wkład Jeana Tirole’a do współczesnej teorii ekonomii. Koncentruje się na wkładzie laureata Nagrody Nobla do teorii: przedsiębiorstwa, regulacji, struktur rynkowych i konkurencji, internetu, rynków fi nansowych i polityki makroekonomicznej. Szczególną uwagę poświęca liberalnej koncepcji regulacji rynków w ujęciu J.J. Laffonta i J. Tirole’a. Autor stara się wykazać, że jakkolwiek rozważania teoretyczne J. Tirole’a mają bardzo elegancki, modelowy charakter, to jednakże wzmacniają istotnie ekonomię głównego nurtu i liberalne koncepcje polityki gospodarczej. Autor zwraca również uwagę na niewykorzystane możliwości polskiej myśli ekonomicznej, która przed J. Tirolem i J.J. Laffontem podejmowała ciekawie te same lub podobne wątki.

EN

In the paper the author is trying to show the contribution of Jean Tirole to the modern economic theory. He focuses on the Nobel Laureate contribution to the theory of: fi rms, regulations, market structures and competition, the internet, fi nancial markets and macroeconomic policy. Particular attention is given to the “liberal concept of regulation” of the market in terms of J.J. Laffont and J. Tirole. The author tries to show that although the research of J. Tirole has a very elegant model character, it is, however, signifi cantly enhancing the mainstream of economics and liberal conceptions of economic policy. The author furthermore gives attention to the unused potential of Polish economic thought that before J. Tirole and J.J. Laffont has taken interesting attempts to contribute to the same or similar topics.

RU

В статье представлен вклад Жана Тироля в современную экономическую теорию, в том числе, прежде всего в теорию предприятия, регуляции, рыночных структур и конкуренции, интернета, финансовых рынков и макроэкономической политики. Особое внимание автор статьи посвящает теориям Ж.-Ж.Лаффона и Ж.Тироля в либеральной концепции регуляции рынков. Теоретические работы Ж.Тироля имеют очень элегантный стиль и модельный характер, что не мешает им служить существенной поддержкой для главного течения экономической науки и либеральной концепции экономической политики. Автор также обращает внимание на неиспользованные возможности польской экономической мысли, которая и до Ж.Тироля и Ж.Ж.Лаффона интересным образом работала в том же или похожем направлении.

17

Metody badania asymetrii informacji w przedsiębiorstwie w zakresie alokacji kapitału

88%

Kubiak J.

Gospodarka Narodowa. The Polish Journal of Economics

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2011

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vol. 247

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issue 4

45-67

EN

The authordiscussesand evaluatesmethods formeasuringthe level ofinformation asymmetry in enterprises depending on their ownership structure. Information asymmetryis asourceofprocesses such as adverseselectionandmoral hazard, the author says. An appropriate ownershipstructure in companiescanbe usedto reducethe negative effects of an information asymmetry. Thearticle examines ways of measuring information asymmetryinterms of the data needed for such measurements and therisk that a givenmeasure will be inaccurate. The author concludes that, in large-scaleresearch,direct measurements ofthe levelof information asymmetryareoftenimpossibleandthe results mustbeapproximated. When planningresearchit is necessary totake into account therange ofdataneededtousea specific measureand therisks related to the inaccuracy ofmeasurements, Kubiak says. When examining the relationship between information asymmetry and a company’s ownership structure, researchers should arrange enterprises according to the relativelevel ofinformation asymmetry, he adds. According tothe author, this can bedone by developing a compositemeasure of information asymmetryonthebasis of specificindicators usingthe linear ordering method. Such a procedureshouldreduce theriskof improperclassificationof companiesaccording to thelevel of information asymmetry, Kubiak says.

18

Enterprise digital transformation and debt financing cost in China's A-share listed companies

88%

Sun C., Zhang Z., Vochozka M., Vozňáková I.

Oeconomia Copernicana

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2022

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vol. 13

|

issue 3

783-829

EN

Research background: The rapid development of digital economy has set off a new wave of enterprise reform. Developing the digital economy is not only an urgent requirement of the current situation, but also an important way to meet the people's better life. Purpose of the article: This paper attempts to reveal the important role of the development of digital technology on the debt financing cost of micro enterprises, and provide micro evidence for the integration of digital economy and real economy. At the same time, this paper wants to provide relevant guidance for formulating digital related policies and reducing the financing cost of the real economy. Methods: Taking China's A-share listed companies from 2007 to 2020 as a sample, this paper empirically tests the impact of enterprise digital transformation on debt financing cost and its mechanism. In the robustness test, this paper uses the measures of changing independent variables and dependent variables, instrumental variable method and quantile regression method. In the mechanism test, this paper uses the intermediary effect model. In the further study, this paper uses the method of group regression. Findings & value added: The study finds that the digital transformation of enterprises significantly reduces the cost of debt financing. Mechanism tests show that the role of enterprise digital transformation in reducing debt financing costs is mainly realized by reducing information asymmetry and alleviating agency problems. Further tests show that the relationship between enterprise digital transformation and debt financing cost is affected by the degree of market competition, whether it is a high-tech enterprise and audit quality. When the degree of market competition is high, the enterprise is a high-tech one, or it is audited by the four major international accounting firms, the effect of enterprise digital transformation on the reduction of debt financing cost is more significant. The method used in this paper is also applicable to the study of other economic management problems. This paper proves a positive significance of digital transformation, which is conducive to promoting the digital transformation of enterprises. Especially for those enterprises in non-high-tech industries, they should speed up the pace. At the same time, this paper has a certain guiding role for the introduction and implementation of policies to encourage digital transformation.

19

‘Lemonisation’ and Information Asymmetry on the Educational Services Market in Ukraine

88%

Kozak L., Kovalchuk V., Gudz I., Novak A.

Journal of Education Culture and Society

|

2022

|

vol. 13

|

issue 2

645-658

EN

Aim. The article aims to analyse the manifestations of information asymmetry in the market of educational services to develop proposals for improving the communication programmes of higher education institutions of Ukraine. Methods. The authors describe the display of information asymmetry in the market of educational services based on a sociological study among the 1st and 2nd-year students of Ukrainian universities, which aimed to study the criteria for choosing an educational programme. The authors used correlation analysis to assess the statistical significance of the influence of individual criteria on the selection of entrants. The survey was conducted at the universities in Ukraine that provide educational services on the bachelor’s degree specialities of 073 Management and 075 Marketing. A critical and comparative analysis of state regulatory measures to overcome information asymmetry was also applied. Results. The annual decrease in the number of university entrants in Ukraine and around the world has led to increased competition among universities, resulting in an escalation of information asymmetry in the market of educational services and its ‘lemonisation’. Conclusions. According to the results of the sociological study, despite the high availability of sources of information, at the time of entering the university, the vast majority of students did not consider themselves sufficiently informed about the benefits of studying in the chosen educational and professional programme. Several state regulatory measures have been taken to provide quality educational services in Ukraine and ensure unbiased information about universities. It was revealed that by allocating state-funded places for a specific speciality and university, the government significantly influences the choice of applicants. However, it should be noted that such impact is not very significant for applicants with high scores. Given this, the impact and effectiveness of both the state regulation system of universities in Ukraine and its specific instruments require further study. Cognitive value. The study results contribute to overcoming the asymmetry of information in the market of educational services, serve as a methodological basis for improving the communication programmes of higher education institutions, promote healthy competition among them. The findings of this study can be considered an essential contribution to future research.

20

AGILE METHODOLOGY AS A TOOL FOR REDUCING INFORMATION ASYMMETRY IN THE IMPLEMENTATION OF IT PROJECTS COMPLETED ON THE BASIS OF THE OUTSOURCING STRATEGY

75%

Wachnik B.

Information Systems in Management

|

2016

|

vol. 5

|

issue 3

436-448

EN

An excessively high level of information asymmetry between the supplier and the client occurring during the whole life cycle of an MIS is an important factor influencing the success of a project. The methods chosen to minimise information asymmetry in IT projects constitute an important research area which can impact their successful outcome. The aim of this article is to present research results on the use of Agile Methodology as a tool for minimising information asymmetry as part of an IT project completion consisting in a DMS system implementation with the use of outsourcing. The article may be interesting both for theoreticians of business informatics and for practitioners specializing in IT project implementation.

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‘Lemonisation’ and Information Asymmetry on the Educational Services Market in Ukraine

AGILE METHODOLOGY AS A TOOL FOR REDUCING INFORMATION ASYMMETRY IN THE IMPLEMENTATION OF IT PROJECTS COMPLETED ON THE BASIS OF THE OUTSOURCING STRATEGY