ASSESSMENT OF BUSINESS ENVIRONMENT DEVELOPMENT PERCEPTION UNDER THE INFLUENCE OF COVID-19: THE CASE OF LATVIA

2020 ◽  
Author(s):  
Andra Zvirbule ◽  
Gunta Grinberga-Zalite ◽  
Aina Muska
Keyword(s):  
Business Environment ◽  
Objective Data ◽  
Economic Sectors ◽  
Environment Changes ◽  
Logical Construction ◽  
The World ◽  
Regional Location ◽  
Data Grouping ◽  
The Impact ◽  
Business Sectors

Not only macroeconomic growth scenarios and forecasts but also business environment assessments and development forecasts have changed as a result of the worldwide COVID-19 pandemic. Many of the forecasts are based on objective data on the performance of economic sectors; however, some of them are based on business perceptions or business sentiment assessments. There is no doubt that these perceptions and business sentiment assessments differ within business sectors and according to size of the company, regional location and type of business. The aim of the research is to identify and provide an assessment of the business environment development perceptions in the COVID-19 situation in Latvia and compare them with business sentiment assessments from other countries. Specific tasks of the research: to collect information on business environment changes in Latvia in the COVID-19 situation; to compile business perceptions of the impact of COVID-19 on the business environment in the world and in Latvia; to identify the perceptions of the business environment in the most important business sectors in Latvia. Methods: monographic, data grouping, logical construction and mathematical and statistical analysis. The research identified business environment changes in business sectors in Latvia under COVID-19’s influence and business perceptions of the impact of COVID-19 on the business environment for the next 6 months. Based on the research, the authors have drawn conclusions about the future development of the business environment and have identified the sectors that will be negatively affected by the COVID-19 crisis in the coming months.

scholarly journals THE PROFITABILITY DETERMINANTS OF THE GLOBAL PHARMACEUTICAL & BIOTECHNOLOGY COMPANIES DURING THE COVID-19 PANDEMIC

2021 ◽  
Vol 6 (1) ◽  
pp. 43-54
Author(s):  
Boris Tušek ◽  
◽  
Ana Ježovita ◽  
Petra Halar
Keyword(s):  
Multinational Corporations ◽  
Financial Management ◽  
Financial Stability ◽  
Panel Data Analysis ◽  
Stress Test ◽  
Business Environment ◽  
Sustainable Operations ◽  
The World ◽  
Biotechnology Companies ◽  
The Impact

In today's chaotic, complex, unpredictable, and extremely dynamic business environment, it is more than ever essential to operate in a way that will ensure sustainable operations and demand for companies’ goods or services. Employing contemporary corporate governance, advanced information technology, and adequate financial management are significant foundations for sustaining high profitability and adequate financial stability as crucial objectives that ensure adding value for companies' owners. Covid-19 is an excellent stress test for every entity, as for micro-companies, so for the largest multinational corporations. Nowadays, in the era of the world Covid-19 pandemic, companies challenge to maintain business operations and going concern assumption. However, in every crisis or adverse situation, some companies take enormous benefits of it. Pharmaceutical and biotechnology companies can be characterized as the major players during this last, still actual crisis. Their role can be observed from two angles, first as a provider of necessary drugs for curing Covid-19 patients and from the other side, as a developer of effective and efficient vaccine which will ‘save the world’ and brought us back to the ‘old normal’. This paper seeks to investigate financial determinants that are the most significant for the profitability of the pharmaceutical and biotechnology companies. The question is how those companies coped with the Covid-19 crisis, and what is the impact on their profitability in 2020 compared to previous operating years? Another question is how is the development of the vaccine financed and are R&D expenses significantly increased in 2020? Therefore, the objective of the paper is to investigate the impact of the Covid-19 crisis on the profitability of global pharmaceutical and biotechnology companies. The research covers 52 entities on the global level for the period from 2010 to 2020. Data will be analysed by applying adequate panel data analysis and moderator regression analysis. Keywords: profitability ratios, pharmaceutical and biotechnology companies, Covid-19

Empirical Analysis of Tourism Factors Affecting Tourists' Satisfaction

2020 ◽  
pp. 461-470
Author(s):  
Nilanjan Ray ◽  
Dillip Kumar Das
Keyword(s):  
Flow Pattern ◽  
Primary Objective ◽  
Point Of View ◽  
Objective Data ◽  
Factors Affecting ◽  
The World ◽  
Future Requirement ◽  
Growth Development ◽  
Tourism Service ◽  
The Impact

Tourism is one of the fastest growing industries in the world. It has become one of the vital issues of economic and social benefits to the society. This paper identifies the impact of tourism in Paro, different motivational factors which may directly or indirectly influence the tourists' satisfaction. The primary objective of this study includes the growth, development and emergence of tourism potentials in Paro, in particular, as well as to analyze the tourist flow pattern and also examine the existing and future requirement in the motivational point of view. For the accomplishment of the purposed objective, data for the study were collected through pre -structured questionnaire. The sample size was restricted to 100 tourists. In terms of the present scenario of the above components, how to attract more tourists and promoting infrastructural requirement for better tourism service to improve the level of tourists' motivation.

scholarly journals The Role of Environmental, Social, and Governance Disclosure in Financial Transparency

2020 ◽  
Vol 12 (17) ◽  
pp. 6757
Author(s):  
Ionica Oncioiu ◽  
Delia-Mioara Popescu ◽  
Anca Elena Aviana ◽  
Alina Șerban ◽  
Florica Rotaru ◽  
...  
Keyword(s):  
Financial Reporting ◽  
Business Environment ◽  
Economic Sector ◽  
Economic Sectors ◽  
Analytic Hierarchy ◽  
Stakeholder Orientation ◽  
Financial Communication ◽  
Financial Transparency ◽  
The Impact ◽  
Governance Disclosure

In today’s business environment, corporate governance and financial transparency have an impact on the performance of firms. These changes are important for understanding the widespread accessibility of relevant and reliable information regarding an entity’s financial and nonfinancial aspects. The purpose of this study was to show how the environmental, social, and governance disclosure performance of companies has gained a reputation of having a fundamental role in financial transparency and how it varies by stakeholder orientation and economic sector. In this regard, we developed a new model based on stakeholders’ perceptions to analyze the impact of environmental, social, and governance disclosure on financial transparency using the Analytic Hierarchy Process (AHP) method and select the economic sector that ensures transparency in sustainable and financial reporting. This model was applied over the 2008–2018 period to 143 companies from eight countries in the most representative economic sectors: finance, energy, and telecommunication services. Our results portray that environmental, social, and governance reporting are a company’s means of communication with stakeholders, as part of their accountability and stewardship obligations, and at the same time, they are a tool for achieving transparency regarding the financial performance of a firm. Furthermore, our findings also showed whether environmental, social, and governance (ESG) disclosures act as a vector of financial communication for enterprises, and this relationship will also be evident in their role in financial transparency.

scholarly journals Entrepreneurship facilitators and their role in poverty alleviation

2021 ◽  
Author(s):  
Osama Aziz
Keyword(s):  
Human Development ◽  
Low Income ◽  
Human Development Index ◽  
Poverty Alleviation ◽  
Business Environment ◽  
Entrepreneurial Activity ◽  
Low Income Countries ◽  
The World ◽  
Entrepreneurial Activities ◽  
The Impact

Poverty is one of the main issues faced by countries across the world. Over the last three decades, governments and international organizations such as the World Bank, the IMF, etc. have been trying to reduce poverty. Despite this, today almost 2.5 billion people are still living in poverty. Entrepreneurship is often seen as a way to reduce poverty. Moreover, the role of entrepreneurship facilitators is very important in creating a suitable business environment for entrepreneurs which increases the capacity of entrepreneurial activities. The purpose of this thesis is to provide an insight into how entrepreneurial activity and entrepreneurship facilitators (Government, Incubators, and Financial Institutions) help in improving the business environment in all countries and hence in poverty alleviation, examining the impact in case of high-income, high medium-income, medium-income, low-income countries and, as a result, reduce poverty. To investigate this, the Human Development Index (HDI) has been used to measure poverty. Secondary data for Entrepreneurship (Entrepreneurial Facilitators, Entrepreneurial Activities, and Economic Factors) and Poverty (HDI)) from the period of 2005 to 2016 are used for high-income countries, high medium-income countries, medium-income countries and low-income countries. The study has found that there is a positive and significant relationship between entrepreneurial activity and the changes in Human Development Index (HDI) in all countries studied over the 12 years period. It also finds that the presence of good entrepreneurial facilitators improves the capacity of entrepreneurial activity which reduces poverty as measured by the HDI. It adds to the body of knowledge by using HDI as a new tool to analyze the impact of entrepreneurial activity country wise. It also suggests that governments need to make better business related regulations which will motivate entrepreneurs and create ease of business doing. Finally it suggests that trade openness bring foreign investments in a country which create employment for people.

scholarly journals Entrepreneurship facilitators and their role in poverty alleviation

2021 ◽  
Author(s):  
Osama Aziz
Keyword(s):  
Human Development ◽  
Low Income ◽  
Human Development Index ◽  
Poverty Alleviation ◽  
Business Environment ◽  
Entrepreneurial Activity ◽  
Low Income Countries ◽  
The World ◽  
Entrepreneurial Activities ◽  
The Impact

Poverty is one of the main issues faced by countries across the world. Over the last three decades, governments and international organizations such as the World Bank, the IMF, etc. have been trying to reduce poverty. Despite this, today almost 2.5 billion people are still living in poverty. Entrepreneurship is often seen as a way to reduce poverty. Moreover, the role of entrepreneurship facilitators is very important in creating a suitable business environment for entrepreneurs which increases the capacity of entrepreneurial activities. The purpose of this thesis is to provide an insight into how entrepreneurial activity and entrepreneurship facilitators (Government, Incubators, and Financial Institutions) help in improving the business environment in all countries and hence in poverty alleviation, examining the impact in case of high-income, high medium-income, medium-income, low-income countries and, as a result, reduce poverty. To investigate this, the Human Development Index (HDI) has been used to measure poverty. Secondary data for Entrepreneurship (Entrepreneurial Facilitators, Entrepreneurial Activities, and Economic Factors) and Poverty (HDI)) from the period of 2005 to 2016 are used for high-income countries, high medium-income countries, medium-income countries and low-income countries. The study has found that there is a positive and significant relationship between entrepreneurial activity and the changes in Human Development Index (HDI) in all countries studied over the 12 years period. It also finds that the presence of good entrepreneurial facilitators improves the capacity of entrepreneurial activity which reduces poverty as measured by the HDI. It adds to the body of knowledge by using HDI as a new tool to analyze the impact of entrepreneurial activity country wise. It also suggests that governments need to make better business related regulations which will motivate entrepreneurs and create ease of business doing. Finally it suggests that trade openness bring foreign investments in a country which create employment for people.

scholarly journals Factors affecting the business environment of SMEs in Nitra region in Slovakia

2018 ◽  
Vol 9 (2) ◽  
pp. 309-331
Author(s):  
Enikő Korcsmáros ◽  
Monika Šimova
Keyword(s):  
Future Development ◽  
Regional Policy ◽  
Research Question ◽  
Value Added ◽  
Business Environment ◽  
Transport Cost ◽  
Primary Research ◽  
Economic Sectors ◽  
The Future ◽  
The Impact

Research background: Businesses are directly affected by the outside world, i.e. the business environment. Literature review lists a number of factors of the business environment affecting businesses. These factors may be oriented towards inputs, outputs, sales, or can be an instrument of regional policy. With regard to future development of businesses, it is crucial to identify which factor and to what extent can influence the operation of the business. Purpose of the article: The main objective of the primary research was to provide a comprehensive assessment of how different factors influence enterprises of different economic sectors as well as help to verify the research question defined and formulate recommendations for future development of enterprises. The questionnaire survey to verify the research question was conducted on a sample of 496 small and medium-sized enterprises. Methods: We chose quantitative method of ANOVA for processing the results of the survey, and we also set the limit of significant impact of different influence factors on the basis of analysed data of primary research, and the limit of significant impact. Based on literature study, we have grouped individual factors such as factors focused on inputs, on outputs, on sales, and instruments of regional policy. Based on those findings we can identify the impact of factors for the future development of SMEs in different economic sectors. Findings & Value added: SMEs of Nitra Region involved in the research represent different economic sectors and various factors influence them with different intensity, for future development of these SMEs it is necessary to reduce the transport cost of raw material and goods, improve the attitude of employees to work, and the technical level of equipment to improve the economic situation of the region. The mentioned findings are important for formulating the future regional development plan.

scholarly journals PROCESSES OF GLOBALIZATION OF THE INTERNATIONAL BUSINESS-ENVIRONMENT ARE IN MODERN REALITIES

2017 ◽  
Vol 19 (2(64)) ◽  
pp. 32-36
Author(s):  
A.I. Boiarchuk
Keyword(s):  
World Economy ◽  
Business Environment ◽  
Modern World ◽  
Legal Information ◽  
Nation States ◽  
The World ◽  
Definition Of ◽  
The Right ◽  
National Economies ◽  
The Impact

In the article the influence of globalist processes, widely developing in nowadays world, are analyzed. Because of that the art becomes to be a tool of reach countries to have the right of domination in a world space. Authors argue about positive and negative sides of globalization in this text. The main objective of this paper to analyze in detail the impact of globalization on the world economy. The paper presents the analysis of the nature of the process of globalization in the modern world. Globalization has been analyzed in the following interdependent aspects: economic, territorial. Here are main reasons of globalization. The paper presents two main directions to define of globalization in terms of the behavior of nation-states in the global geopolitical environment. The paper presents the positive and negative influences of globalization on the world economy and national economies in the world. Special attention is paid to the problems associated with globalization for the different states. Globalisation is an incessant process, which lasts a lot of years, but problems, associated with it. Autor dispute among themselves about globalisation and can't create a single definition of this process. Autor argue about positive and negative sides of globalisation in this text. Necessity of formation of uniform economic, legal, information and technological space for realization of free and effective enterprise activity of all subjects of managing has led the Ukrainian economy to to transformation of integration economic processes in a new system condition - globalization of economic communications.

scholarly journals The new “global”: the role of cargo maritime transport of goods with focus on the transportation corridor between Southeast Asia and Northwestern Europe

2021 ◽  
Vol 92 ◽  
pp. 09010
Author(s):  
Marek Minárik ◽  
Denisa Čiderová
Keyword(s):  
Southeast Asia ◽  
Transaction Costs ◽  
Value Added ◽  
Business Environment ◽  
Liner Shipping ◽  
Maritime Transportation ◽  
Maritime Transport ◽  
Transportation Corridor ◽  
The World ◽  
The Impact

Research background: Our research is framed by the new institutional theory reflected in: the property rights theory [1] and transfer of ownership of goods and the transaction costs theory that might be associated with economic exchange theory. Overall, we need to consider occurrence of deglobalization and the COVID-19 crisis, which recently not just decelerated growth of the world economy, but even put it to a halt; one might conclude that (de)globalization [2] and the COVID-19 crisis are behind the new “global” [3]. Purpose of the article: We investigate the impact of connectivity between selected countries by cargo maritime transport on costs to import of 1 TEU container transporting a specific commodity in a specific transportation corridor. Methods: Our research is based on a regression analysis creating a model of UNCTAD statistics; the Liner shipping connectivity index (LSCI); and the WEF Global Competitiveness Index (GCI). We consider the Belt and Road Initiative (BRI) that converges with the global maritime transportation corridor between (Southeast) Asia/China – Northwestern Europe/EU (the North Sea Region) in this respect, bearing in mind the 2017 round of the International Comparison Program recently released by the World Bank. Findings & Value added: Our research reveals correlation of the costs to import of 1 TEU container vis-à-vis the quality and intensity of liner shipping connections and the quality of the business environment determining the transaction costs in import price. Value added of the paper is our focus on sustainable development reinvigorated by prestigious international organisations and European Union institutions.

scholarly journals COVID- 19 PANDEMIC IMPACT ON FREE ZONES

2020 ◽  
Vol 1 (12) ◽  
pp. 65
Author(s):  
Sandra Ezmale
Keyword(s):  
Economic Structure ◽  
Document Analysis ◽  
Business Environment ◽  
Economic Situation ◽  
Key Factors ◽  
Negative Effects ◽  
Free Zone ◽  
The World ◽  
Economic Zones ◽  
The Impact

COVID-19 pandemic has an impact on global economic activity, but the negative effects vary from country to country. The key factors determining the depth of the impact are the economic situation at the beginning of 2020, the features of the economic structure and the fiscal capacity of governments to help citizens, businesses and the economy as a whole. Free zones and special economic zones are historically perceived as places that, to some extent, protect investors from unpredictability and act as places where the weak business environment is mitigated. The article investigates the impact of pandemic COVID - 19 on the world's economic situation and free zones, as well as free zones forecasts on the economic recovery. The objective of the article – to analyse the impact of pandemic COVID-19 on the world free zones performance and global economic situation. Within the framework of the study has been characterised the impact of pandemic COVID - 19 on the world's economic situation, described the extent and nature of the COVID- 19 pandemic impacts on performance in the Free Zones, as well as has been described the impact of pandemic COVID 19 on the operation of free-zone enterprises in Latvia by analysing the example of Rezekne's special economic zone.The descriptive methods, document analysis, comparative analysis was used in the study, survey.

scholarly journals TRENDS AND CHALLENGES IN THE FIELD OF CONSULTING AND BUSINESS PROCESSES MANAGEMENT

2021 ◽  
Vol 12 (2) ◽  
pp. 151-159
Author(s):  
Marta Kopytko ◽  
◽  
Mariana Veresklia ◽  
Keyword(s):  
Service Sector ◽  
Business Processes ◽  
Business Environment ◽  
Economic Security ◽  
Business Units ◽  
Consulting Services ◽  
The World ◽  
Seeking Help ◽  
Fruitful Cooperation ◽  
The Impact

The article, based on the analysis of the evolution of the service sector, examines the scientific and theoretical foundations of consulting activities, highlighting aspects of the structure, types of consulting, as well as the reasons for the demand for consulting services. In the process of scientific research is determined by the use of methods of analysis, synthesis, grouping, formed the conditions for the spread of demand for consulting services in the world. It is determined that the problems that arise in modern enterprises and the significant level of uncertainty in the business environment, which causes uncertainty for managers, necessitate seeking help. The rapid progress of management consulting is also due to the lack of agreed standards (as opposed to such types of consulting as law or accounting), which allows almost any specialist, even a little knowledgeable in this matter, to consult. Today, there is a trend of colonization by American and European consulting markets in Asia, India and Eastern Europe. Thanks to this geopolitics, leading consulting firms receive more than a third of their profits. Recently, counselling in the social and public sectors has become attractive and profitable. Significant attention in the study is focused on the level of competition in the field of consulting in the world. Therefore, it is determined that the effectiveness of counseling directly depends on the personal participation and professionalism of a particular counselor. In this regard, the mutual understanding of the consultant and the client and their fruitful cooperation become especially important. The problems, tendencies and challenges faced by enterprises that require the involvement of external business consultants are analyzed, as well as the problems that accompany consulting companies in the process of activity. The analysis emphasized the peculiarities of the process of managing business units, as well as the impact on the level of economic security of economic entities.

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