Isabel Albaladejo, Maribel González-Martínez
The Mediterranean is one of the main destinations for international tourism in Spain. According to the Spanish Statistics Institute (INE, 2016), more than half of international tourists staying at hotels chose the Mediterranean
coastal provinces as a destination in 2015. Spain has about 3,500 km of Mediterranean coastline (INE, 2016). As shown in Fig. 1, these kilometers are distributed between the peninsular coast (2,058 km) and the archipelago of the Balearic Islands (1,428 Km). Tourism is an important economic sector on the Spanish Mediterranean coasts and it has become one of the most important sources of employment. For example, in Balearic Islands the tourism sector contributed 44.8% to the gross domestic product (GDP) and created 150,346 jobs (32.0% of total), in 2014.
Sok-Gee Chan, Zulkufl y Ramly
Rising income inequality is a growing concern for governments due to its adverse effect on the poverty level, income distribution, social and institutional stability, which in turn impede the economic growth and may lead to political instability. Taxation has long been regarded as the key instrument in a fiscal policy to reduce income inequality via the redistribution of tax revenues to finance public goods and to correct for market-income inequality (Atkinson, 1991). Although prior studies have extensively investigated the effect of taxation on income inequality (Martinez-Vazquez et al., 2012), the findings are inconclusive especially in developing countries (Bird & Zolt, 2014).
Kristina Kocisova, Maria Hass-Symotiuk, Magdalena Kludacz-Alessandri
Global financial crisis influenced almost all sectors in national economies of individual countries, affecting the social sectors such as healthcare one significantly. In many countries, the health systems are mostly financed by public budget. Therefore the effective use of public money comes into attention, especially in crisis years (Androniceanu & Ohanyan, 2016). Therefore performance measurement in the public healthcare systém has become a more and more popular research challenge throughout Europe and the world. It is significantly associated with the global process of demographic ageing and increasing demands on health and social system in each country (Marešová et al., 2015a).
Goran Avlijas, Nikola Milicevic, Danilo Golijanin
Retail stock-out refers to a situation where a demanded product is not available to the customer in the expected location or is not in a saleable condition (ECR Europe, 2003). Many studies conducted in the last fifty years have shown that the average stock-out rate (percentage of the unavailable products at the time of the audit or purchase) is generally constant and varies between 7% and 8% (Aastrup & Kotzab, 2010). Although extensively studied for decades (e.g. Corsten & Gruen, 2003; Fernie & Grant, 2008; Zinn & Liu, 2001), the phenomenon of stock-outs remains one of the major problems for retailers and manufacturers (Aastrup & Kotzab, 2010).
Pavel Ryska, Petr Sklenář
The study of deflation seems to be gaining ever more importance. Central banks in most advanced economies, including the European Central Bank and the Czech National Bank, have observed CPI inflation running below their targets or even in outright deflationary territory. These central banks argue that deflation should be avoided at all costs and employ extraordinary policies such as quantitative easing, foreign exchange interventions or negative nominal interest rates to fight against it. As these policies have not always led to higher economic growth and higher inflation, there have been calls for even more extraordinary measures.
Research and development (R&D) is of fundamental importance in the creation of knowledge, products and technologies (Solow, 1956; Jones, 1995; Köhler et al., 2012; OECD, 2012; Szarowská, 2016; 2017). Generally, governments have three main instruments for financing R&D (own R&D, direct funding and indirect funding), each of which has advantages and disadvantages from the perspective of economic theory (David et al., 2000). The financial crisis prompted many governments to introduce tough fiscal consolidation measures and to prioritize other issues over R&D. However, Hud and Hussinger (2015) note that to prevent firms from reducing their R&D expenses and to maintain national R&D capacities, policymakers in many countries reacted immediately to the crisis and increased the public R&D budget.
Jan Hruška, Martina Pásková
The National Tourism Organizations (NTOs) are key actors of destination management at national level. The complexity and professionalism of their involvement in tourism management has been growing in recent years, both in the field of the destination marketing and in terms of tourism promotion forms, support for statistics and tourism research. An important impetus and new opportunities for the development of NTO’s activities represent new technologies, especially HDR photo and video, panoramic photos, virtual reality and mobile technologies, including extended reality. These technologies change the NTO marketing (Lange-Faria & Elliot, 2012). New technologies are also part of the social media, the most dynamic element of the current NTO marketing and, more generally, the destination marketing at all geographical levels (Kiráľová & Pavlíčeka, 2015).
Marinko Škare, Daniel Tomić, Małgorzata Porada-Rochoń
Sympathetic movement between the nominal interest rate on long-term government bonds and the price level first observed by Gibson (1923) remains an open academic debate. Academic debates on Gibson paradox range
from being nothing more than a spurious statistical relation to a fact strongly disputing standard micro and macroeconomic theory. The debate today is revived in a period of historic low-interest rates and deflation in many world economies. Keynes (1930/2011) speaks of the observed relation as the most completely established empirical fact in economics.
Innovation has received more and more attention in the European Union since adoption of the Lisbon Strategy in 2000. In 2010 the European Commission 2010; European Council adopted a new strategy, Europe 2020, which
stressed again the importance of innovations. Therefore it is important to evaluate the current level of the European Union Member States’ technological and economic development as well as its innovations impact on it. Innovation impact on economic development was analyzed by correlating various composite indices with
GDP per capita indicator (Fagerberg & Srholec, 2008). The author proposes a conceptual model for economic development evaluation according to a world-system approach. The level of economic development can thus be
identified by a system of indicators rather than single one (e.g. GDP per capita).
Rita Remeikiene, Zoltan Rozsa, Ligita Gaspareniene, Jan Pěnčík
According to Shah (2015), economic growth is a primary and crucial aim of national and regional economies. International trade, based on exploitation of the benefits of comparative advantage, is treated as one of the key
Determinants of a sustainable economic growth. Being a structural part of the overal international trade, the international trade in agricultural products is an important engine of economic progress. Despite the abundance of the scientific studies proving the positive links between international trade and national and/or regional
economic growth (Sun & Heshmati, 2010; Adhikary, 2010; Busse & Koniger, 2012; Fetahi-Vehapia & Sadikub, 2015; Vojtovic, 2016; Kljucnikov & Popesko, 2017; Weng et al., 2017, Simionescu et al., 2017 etc.), the international trade in agricultural products thus far has not earned the sufficient scientific attention.
Marija Džunić, Nataša Golubović
Business environment is An important determinant of national competitiveness and sustainable long-term economic growth. Business environment quality determines the risk as well as returns from investment and
therefore affects investment decisions. The business environment is largely, if not totally, beyond the control of the firms and their management. It results from existing political, legal and regulatory framework; macroeconomic policies; institutional infrastructure; social and cultural context within which transactions take place, the quality of physical and social infrastructure and many other factors. Empirical research has shown that corruption represents a serious obstacle to entrepreneurship and business (Kaufmann & Wei, 2000; Meon & Sekkat, 2005). Hellman et al. (2000) consider corruption, in addition to governance quality and state capture, a factor that significantly shapes business environment in transition countries.
Jindra Peterková, Šárka Zapletalová
In today’s business world, the only constant is a change, so that the ability to learn, change and innovate plays an important role in business. Enterprises should actively create rules of the game and own future rather than passively react to changes (Mikoláš & Wozniaková, 2009; Merrill, 2015). Proactive behavior, seeking own way (Zelený, 2012) and creating innovator’s DNA is important (Dyer et al., 2011). Innovation and own recipe (Pearl, 2011) for its implementation is a necessary prerequisite for successful business in the highly competitive business environment. For companies’ future existence and development, innovations importance was recognized by a number of business owners and managers, who introduce changes and contribute to the creation of new trends in the business environment.
Ravindra Hewa Kuruppuge, Ales Gregar
Family businesses all over the world are suffering from long-term survival problems (Miller et al., 2004; Salvato & Leif, 2008) despite financially outperforming in the short run (Dyer, 2006; Villalonga & Amit, 2006). Meanwhile, general business literature agrees that if a business outperforms in accumulating more resources in the short run, it has a greater propensity to sustain in the long run (Efrat & Shoham, 2012). In this case, despite the diverse ideologies, the short term in this paper is termed to be less than three years. The simple question arising from these two research findings is why family businesses are not as sustainable in the long run if they can outperform in the short run?
Cross-border mergers and acquisitions (M&As) have gained popularity over the last two decades (Erel, Liao, & Weisbach, 2012). They have become a dominant form of foreign direct investment in world economy (Zhu, 2011). Research on this type of expansion strategy, however, has not kept pace with this trend and it is highly fragmented, leaving gaps that need to be addressed (Collins et al., 2009). The area of cross-border acquisitions in Central and Eastern Europe, which is also of interest in this paper, represents such a gap.
Maja Rosi, David Tuček, Vojko Potočan, Milan Jurše
Globalization of higher education and, consequently, of business education, is becoming one of the major challenges for the future development of the academic environment, as it accelerates the international dimension of higher education, which is very important to improve the quality of education, research and other higher education services (Jibeen & Khan, 2015). The paper`s research is limited to business education, whereby the term Business School is used for all high level educational institutions that offer study from fields related to Business, Commerce e.g. Economics, Finance, Management (as defined in the Oxford Dictionary). Therefore,
terminological limitations should also be noted.