This textbook provides an introduction to econometrics through a grounding in probability theory and statistical inference. The emphasis is on the concepts and ideas underlying probability theory and statistical inference, and on motivating the learning of them both at a formal and an intuitive level. It encourages the mastering of fundamental concepts and theoretical perspectives which guide the formulation and solution of problems in econometric modelling. This makes it an ideal introduction to empirical econometric modelling and the more advanced econometric literature. It is recommended for use on courses giving students a thorough grounding in econometrics at undergraduate or graduate level.

Statistical Foundations of Econometric Modelling

The ability to attract and retain the talents is an important factor in the competitiveness of countries, as it is confirmed in our study. At the level of small and medium-sized enterprises, hiring and retaining skilled workers is one of the most difficult tasks of HR management, especially in transition economies with a high intensity of “leaching out” the skilled workers due to labour migration. Our research in Ukraine, which is a prime example of such countries, conducted via the cluster analysis allows us to conclude that the problems of hiring and retaining skilled workers have some connection with profitability: there is almost always a problem with filling vacancies with people of all educational levels in unprofitable enterprises, which is not typical of profitable businesses. The main problems with filling vacancies according to employers’ estimations are: 1) market factors – shortage of employees with the required skills; 2) internal problems of ensuring the attractiveness of jobs (material – pay, and intangible – career prospects, flexible working hours, legal employment); 3) internal factors of inefficient HR management, including recruiting; 4) psycho-physiological factors of job satisfaction. However, there are no close links between the factors of hiring effectiveness and retention of skilled workers with the economic success of the organization in the form of the growth of assets, revenues and stuff. This leads to the conclusion that the practices of human resources management in small and medium-sized businesses in Ukraine are largely built chaotic, without analyzing the impact on the efficiency of the use of other resources and without providing links with the overall economic efficiency of enterprises.

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Hiring and retaining skilled employees in smes: problems in human resource practices and links with organizational success

Shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses. Bork sees antitrust law as a microcosm which reflects the larger movements of our society, such as the tension between liberty and equality.

The Antitrust Paradox: A Policy at War with Itself

Foreign debt and economic growth

Wizerunek obszaru recepcji turystycznej. Podstawy konceptualizacji i czynniki jego kreowania

The key objective of this paper is to describe and evaluate the competitive strategies applied by Polish born global enterprises. To reveal these strategies, two competitive models developed by M.E. Porter are applied to an original data set obtained from 256 small and medium Polish enterprises through a survey employing the CATI technique. The outcomes of these strategies, as perceived by the companies applying them, are also evaluated against two hypotheses. We conclude that Polish firms apply both basic strategies of competition, i.e. cost leadership strategies and differentiation strategies and that a substantial majority of companies perceive themselves to have succeeded on the market.

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Relationship Between Competitive Strategies and the Success Perception of Polish Born Globals

DOI: 10.14254/2071789X.2018/11-4/7 ABSTRACT. The main objective of this paper is to evaluate the impact of the following four groups of factors on success perception by managers of Polish smalland medium-sized international new ventures (SMEs INVs): 1) competitive strategy expressed by international orientation of top management and applied marketingmix tools, 2) competitive strategy analyzed within M.E. Porter’s framework, 3) sector-specific determinants (industrial branches), and 4) main export markets. Two measures of success perception are considered: subjective evaluation of firm’s financial situation and assessment of firm’s success as compared to competitors. The methods of data analyses are correlations and multiple linear regression (SPSS software). The analysis is conducted separately for smallsized companies and for medium-sized firms. The hypotheses concerning the roles of international orientation, marketing-mix tools, industrial branches, and main export markets in explaining success have been fully or partially confirmed. The factors that are most positively related to the perception of success across both groups of firms and two measures of success perceptions are high-quality products, good product development strategy and capability to create unique products, i.e. differentiation strategy. The obtained results imply that the most fundamental factor of success is a good product policy within the framework of a differentiation strategy. The second objective of this paper is to provide a comparison between small and medium-sized enterprises, analyzing whether there is a reason to consider SMEs as a uniform category, or whether the factors explaining success are different depending on firms’ size.

https://www.economics-sociology.eu/files/7_596_Sikora_Prokop.pdf

Explaining success perception of Polish international new ventures: Four perspectives

Purpose – The main purpose of this paper is to investigate whether purchases of capital goods through direct offset transactions (OTs) could be a more beneficial form of trade than conventional market transactions (MTs).Design/methodology/approach – An original model of trade is offered where a company from a less‐developed country plans to acquire an advanced technology embodied in capital goods from a developed country's firm. The quality of technology is unknown to the buyer. The model is used to analyse the choice of transactional form made by the purchasing firm.Findings – It is shown that, in the case of substantial uncertainty about the quality of the acquired technology, direct offsets could be the preferred form of exchange. Direct OTs serve as an insurance against the technology of low quality. They become a credible signal of capital goods' quality in the situation of asymmetric information between the seller and the buyer. It is a rational reaction to market imperfections.Practical implication...

Direct offsets in international trade as a remedy for asymmetric information

The main goal of this paper is to analyse the relationship between innovativeness and success perception by managers of Polish smalland mediumsized international new ventures (INVs). We apply statistical analysis (with the use of SPSS) to the original data set elicited from the two samples of Polish SME’s by means of a questionnaire and CATI technique. Two measures of success have been taken into account: assessment of financial situation and success perception of managers relative to competitors. The outcomes have been evaluated against two hypotheses. The results indicate that the propensity to innovate in Polish INVs was slightly higher in the group of medium-sized firms as compared to the small ones. The relationship between innovativeness and market success was complex. In the majority of the analysed cases the respondents from the mediumsized innovative firms evaluated success at the market in the most favourable terms whereas those from small innovative firms – in the least favourable terms.

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Innovativeness and success perception of Polish small- and medium-sized international new ventures

/pdf/competitive-strategy-versus-sector-specific-determinants-in-15e4fyaaq5.pdf

Ewa Baranowska-Prokop

Papers

Relationship Between Competitive Strategies and the Success Perception of Polish Born Globals

Explaining success perception of Polish international new ventures: Four perspectives

Direct offsets in international trade as a remedy for asymmetric information

Innovativeness and success perception of Polish small- and medium-sized international new ventures

Competitive Strategy Versus Sector-specific Determinants in Success Perception of Polish Born Globals