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Editorial office of the journal E&M Economics and Management warns that there have recently emerged false offers promising mediation of publishing in our journal for a certain fee. Editorial office declares that we do not keep such cooperation. Every single review process is standartized and transparent. If you are interested in publishing with E&M, contact our editorial office directly. The journal does not have any intermediaries abroad.

Aims & Scope

The journal E&M Economics and Management (E&M) publishes high quality original research articles and scientific studies based on theoretical and empirical analyses. E&M encourages new intriguing ideas and new perspectives on existing state of knowledge.
Among the key topics covered are Economics, Business Administration, Finance, Management, Information Management, and Marketing & Trade. More information here.
The journal E&M Economics and Management (E&M) publishes high quality original research articles and scientific studies based on theoretical and empirical analyses. E&M encourages new intriguing ideas and new perspectives on existing state of knowledge.
Among the key topics covered are Economics, Business Administration, Finance, Management, Information Management, and Marketing & Trade. More information here.

Choice of articles of current issue

PRACTICAL APPLICATION OF FORMS AND TOOLS OF MARKETING COMMUNICATION IN THE SME SECTOR

Małgorzata Adamska

How can you imagine the future of marketing communication? The last several decades have brought the unexpected development of marketing concepts and tools (Keller, 2009), conditioned by changes in the economic environment: globalization processes, internationalization of enterprises, increase in competitiveness, social change, development of information technology, popularization of proinnovation culture and, finally, “acceleration” of processes. Against the background of these market conditions, presentation and analysis of currently used communication forms and tools in the sector of small and medium enterprises, in terms of types and forms of messages, seems to be a very interesting topic and will enable diagnosing existing status and drawing conclusions about future organizational behaviour in this area. The need for conducting this kind of research results from constant changes in the architecture of marketing communication. The aim of the study was to learn the approach of small and medium entrepreneurs to customer value management processes through the prism of: quantity, intensity, quality of communication forms and tools. The research problem is the answer to the question: what forms and tools of marketing communication find practical application in the SME sector?
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IMPORTANCE SAMPLING FOR MONTE CARLO SIMULATION TO EVALUATE COLLAR OPTIONS UNDER STOCHASTIC VOLATILITY MODEL

Pengshi Li, Wei Li, Haidong Chen

The collar option is one kind of exotic options which is useful when institutional investors wish to lock in the profit they already have on the underlying asset. Collar options can be implemented by investors on the stock they have already own. Usually investors will obtain the collar when they have enjoyed a decent gain on their investment but they want to hedge against potential downside in their shares. Collar options are very useful and practical instruments in revenue management and project management. Shan et al. (2010) study the use of collar options to manage revenue risks in real toll public-private partnership transportation projects, in particular how to redistribute the profit and losses in order to improve the effectiveness of risk management and fulfill the stakeholder’s needs. Under the constant volatility assumption, the pricing problem of collar option can be solved in the classical Black Scholes framework. However, the smile-shaped pattern of the Black Scholes implied volatilities which extracted from options has provided evidence against the constant volatility assumption in the Black Scholes model.
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THE APPLICATION OF DATA ENVELOPMENT ANALYSIS FOR EVALUATION OF EFFICIENCY OF HEALTHCARE DELIVERY FOR CVD PATIENTS

Kristína Kočišová, Małgorzata Cygańska, Magdalena Kludacz-Alessandri

Leading cause of death in Europe and worldwide are cardiovascular diseases (CVDs). According to AstraZeneca (2014), they are estimated to account for 31% of all global deaths, 47% of all deaths in Europe and 40% of all deaths in the European Union (EU). The economic costs to societies of cardiovascular problems are enormous, including sick leave and lost employment, reduced efficiency at work and premature mortality. Patients with CVD cost the EU economy around 210 billion EUR per year. As mentioned by Wilkins et al. (2017), funding for CVDs as a proportion of the total health budget in the EU is estimated to account for 8%, and it ranges from around 19% in Hungary to around 3% in other countries like Denmark, Sweden and Ireland. Around 53% of the total cost is due to direct healthcare costs, 26% to productivity losses and 21% to the informal care of people with CVD. The relatively significant burden of cardiovascular diseases and a high level of resources allocated to healthcare delivery for CVD patients makes the performance in this health area very critical important issue.
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ASYMMETRIC EFFECTS OF TRADE OPENNESS ON ECONOMIC GROWTH IN SELECTED ASEAN COUNTRIES

Jaka Sriyana, Akhsyim Afandi

International trade has played the role of engine of growth in many countries around the world. Export-import activities may affect the economy through some channels. First, it makes easier to access many commodities and services that lead to higher levels of income per capita and better living standards (Butkiewicz & Yanikkaya, 2011). Second, international trade among countries might also generate capital formation as an important step to the production process in the economy. The effect of international trade on income and economic growth has been intensively discussed in some papers (Altaee & Al-Jafari, 2014; Bajwa & Siddiqi, 2011; Das & Paul, 2011; Hassen, Anis, Taha, & Yosra, 2013; Hye, Wizarat, & Lau, 2016; Malefane, 2018). The vector error correction model (VECM. Over 100 developed and developing nations in Asia, Africa, and Latin America experienced the positive impact of international trade on the increase of their income per capita (Butkiewicz & Yanikkaya, 2011). Therefore, eliminating trade barriers as an implementation of liberalization agreements is likely to boost the volume of international trade and promote economic growth rates.
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DEMOTIVATION OF MEDICAL STAFF IN THE SELECTED HEALTH FACILITY IN SLOVAKIA

Stanislav Szabo, Bohuslava Mihalčová, Jozef Lukáč, Peter Gallo, Veronika Čabinová, Iveta Vajdová

In the context of the research on human behaviour, the issue we deal with is the reason why a people’s message is precisely that, and not another one, what forces them to act as they do. Is it an external compulsion – e.g. to escape from danger, or that they want to achieve something – to satisfy some of their needs, interests in hobbies, or because they consider it right and moral? Can a person behave in a way that has no cause, or reason? Although we distinguish between involuntary and voluntary behaviour, human behaviour in the work process is largely influenced by the will, the desire that results from the impact of several motives. The concept of motivation is the internal process, the process of psychological causes of human behaviour. These causes are motives, internal presuppositions, and internal impulses leading to certain target behaviour. The process of motivation is thus the process of activating internal assumptions, guiding human action to a certain goal of their pursuit (Nakonečný, 1992). Motivation can be defined as processes that account for an individual’s intensity, direction and persistence of effort toward attaining a goal (Robbins, 2001).
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