Eurasian Economic Perspectives: Proceedings of the 29th Eurasia Business and Economics Society Conference (Eurasian Studies in Business and Economics, 16/1)

This book gathers selected papers from the 29th Eurasia Business and Economics Society (EBES) Conference, held in Lisbon, Portugal. While the theoretical and empirical papers presented cover diverse areas of economics and finance in various geographic regions, the main focus is on the latest research concerning accounting/audits, banking, the economics of innovation, and empirical studies on emerging economies and international trade. Studies on labor economics and public economics, as well as regional studies, round out the coverage. Preface Eurasia Business and Economics Society (EBES) Contents Contributors Part I: Accounting/Audit Insights from Lobbying Research on the Accounting Standard-Setting Process Through Comment Letter Submissions 1 Introduction 2 Theoretical background 2.1 The role of theories in explaining regulators ́ behavior in the accounting standard-setting process 2.2 The role of theories in explaining constituents ́ behavior in the accounting standard-setting process 3 Literature on participation: the decision to submit a comment letter 3.1 Participants ́ profile in the process 3.2 Corporate characteristics associated with participation 3.3 Jurisdiction 4 Literature on the content of comment letters: positions and arguments 5 The effectiveness of lobbying efforts 6 Conclusion References The Bulgarian Life Insurance Sector: Review and Analysis of Investments 1 Introduction 2 Investments and Investment Policy of the Bulgarian Life Insurers: Legal Framework and Type of Assets 2.1 Solvency II and Local Legal Framework for Investments of Life Insurers 3 Characteristics of the Investments of Life Insurers from the Accounting Perspective 3.1 Characteristics and Accounting of the Investment Property of Life Insurers 3.2 Characteristics and Accounting of Investments in Subsidiary, Joint, and Associated Undertakings and Other Undertakings in ... 3.3 Characteristics and Accounting of the Financial Assets of the Life Insurers 3.4 Characteristics and Accounting of the Investments in Deposits 4 Research Method 5 Results and Findings 6 Conclusion References Measures to Assess the Payment Behavior of the Portuguese Subnational Governments 1 Introduction 2 Theoretical Framework 2.1 Financial sustainability and Late Payments 2.2 Late Payments Control Measures Assessment 2.2.1 Control Measures Transparency and Accounting Practices 2.2.2 LPD Control Measures in Spain and in Portugal 3 Data and Methodology 4 Findings 5 Conclusions References Part II: Banking Interactions Between Effectiveness and Consolidation of Commercial Banks in the Polish Banking Sector 1 Introduction 2 Literature Review 3 Controversy Around the Essence and Measurement of Bank ́s Effectiveness 4 Consolidation of the Banking Sector in Poland in 2005-2018 5 Analysis of Relations Between Concentration and Effectiveness of the Polish Banking Sector 6 Analysis of Relations Between Concentration and Effectiveness of the Selected Commercial Banks in Poland 7 Conclusion References An Empirical Study of Blockchain Technology, Innovation, Service Quality and Firm Performance in the Banking Industry 1 Introduction 2 Research Model and Hypotheses 3 Data and Methodology 4 Analysis and findings 5 Conclusions References New Solutions in the European Financial Market and their Impact on the Polish Market 1 Introduction 2 EU Financial Market 3 New EU Regulation-The Essence 3.1 The CRD/CRR Package 3.2 Banking Union 3.3 Capital Union 4 The Impact of New EU Regulations on the Banking Sector in Poland 5 The Impact of New EU Regulations on the SME Sector in Poland 6 Conclusion References Part III: Economics of Innovation Implementation of Productivity Apps to Increase Financial Inclusion in Peer-To-Peer Lending Platform 1 Introduction 2 Literature Review 2.1 Peer-to-Peer Lending 2.2 Ultra-Micro Segment 2.3 MODALKU 2.4 Direct Sales Agent 2.5 Mobile-Based Applications 2.6 Global Positioning System (GPS) 3 System Design 4 Implementation 5 Conclusion and Future Works References Measuring the Importance of Churn Predictors in Romanian Telecommunication Industry 1 Introduction 2 Literature Review 3 Methodology 4 Results 5 Conclusion References Peer-to-Peer Lending Development in Latvia, Risks and Opportunities 1 Introduction 2 Transformation from Traditional Banking to P2P Lending 3 Research Methodology 4 P2P Lending in Latvia 4.1 Operating Model of Latvian P2P Lending Platforms 4.2 Public Awareness and Investor Behavior 4.3 Risk Mitigation Tools in P2P Lending 5 Conclusion Appendix 1: Latvia-Based P2P Lending Platforms References Health Spending and Medical Innovation: A Theoretical Analysis 1 Introduction 2 Basic Model I: Competitive Health Care Market 2.1 Behavior of ``Fortunate ́ ́ Workers 2.2 Behavior of ``Unfortunate ́ ́ Workers 2.3 Behavior of Good-Producing Firm 2.4 Behavior of Hospital and Doctors 2.5 Competitive General Equilibrium with Competitive Medical Sector 2.6 Medical Innovation under a Competitive Framework 3 Basic Model II: Monopolistic Health Care Market 3.1 Behavior of ``Fortunate ́ ́ Workers, ``Unfortunate ́ ́ Workers, and Good-Producing Firm 3.2 Behavior of Hospital as a Monopolist and General Equilibrium 3.3 Medical Innovation under a Monopolistic Framework 4 Robustness 4.1 Basic Medical Society (s0 = 1/10) 4.1.1 The Competitive Medical Sector Case 4.1.2 Monopolistic Medical Sector Case 4.2 Advanced Medical Society (s0 = 10) 4.2.1 Competitive Medical Sector Case 4.2.2 Monopolistic Medical Sector Case 4.3 Backward Medical Society (s0 = 1/1000) 4.3.1 Competitive Medical Sector Case 4.3.2 Monopolistic Medical Sector Case 5 Medical Insurance 5.1 Competitive Basic Medical Society (s0 = 1/10) under Medical Insurance 5.1.1 Behavior of Agents 5.1.2 Competitive General Equilibrium under Medical Insurance in the Basic Medical Society (s0 = 1/10) 5.1.3 Competitive General Equilibrium under Medical Insurance in the Advanced Medical Society (s0 = 10) 5.1.4 Competitive General Equilibrium under Medical Insurance in the Backward Medical Society (s0 = 1/1000) 5.2 Monopolistic Basic Medical Society (s0 = 1/10) under Medical Insurance 5.2.1 Behavior of Agents 5.2.2 Monopolistic General Equilibrium under Medical Insurance in the Basic Medical Society (s0 = 1/10) 5.2.3 Monopolistic General Equilibrium under Medical Insurance in the Advanced Medical Society (s0 = 10) 5.2.4 Monopolistic General Equilibrium under Medical Insurance in the Backward Medical Society (s0 = 1/1000) 5.3 The Adverse Selection 6 Conclusion References Part IV: Empirical Studies on Emerging Economies Asymmetric Impacts of the Geopolitical Risk on the Oil Price Fluctuations 1 Introduction 2 Literature Review 3 Methodology of Analysis 3.1 Empirical Model 3.2 Empirical Data 4 Empirical Results 5 Conclusion References Influence of Selected Internal Factors on the Outputs of the Financial-Sector Companies Traded on the Warsaw Stock Exchange 1 Introduction 2 Theoretical Background 3 Data and Research Methodology 4 Results 5 Conclusions References The Influences of Birth and the Child-Raising on Household Finances: An Analysis of Lost Income 1 Introduction 2 Changes to Career Development 2.1 Methodology 2.2 Numerical Examples 3 Conclusions References Debt Financing and Financial Performance: Empirical Evidence of Indian SMEs Listed in BSE-SME Platform 1 Introduction 2 Literature Review 2.1 Theoretical Framework on Capital Structure 2.2 Capital Structure and SMEs 3 Data and Empirical Model 3.1 Sample and Data 3.2 Variables Measurement 3.2.1 Dependent Variables 3.2.2 Independent Variables 3.2.3 Control Variables 3.3 Model Specification 3.4 Estimation Method 4 Empirical Results 4.1 Descriptive Statistics 4.2 Correlation Analysis 4.3 Regression Analysis 5 Conclusion and Policy Implications References Part V: International Trade Trade of the EU and China with South America After the 2008 Financial Crisis 1 Introduction 2 The EU ́s and China ́s Trade Relations with South America 3 The EU ́s and China ́s Imports of Goods from South America 4 Merchandise Exports of the EU and China to the South American Countries 5 Conclusion References Panel Estimation of High-technology Export Determinants: Evidence from Fast-Growing Countries 1 Introduction 2 Theoretical Framework 3 Literature Review 4 Data, Econometric Methods and Research Findings 4.1 Data 4.2 Econometric Methods 4.3 Research Findings 5 Conclusions References Part VI: Labor Economics Non-standard Employment and Wages Across Sectors in Croatia 1 Introduction 2 The Theoretical Framework of Wage Determination 3 Stylized Facts about the Non-standard Employment and Wages in Croatia 4 Methodology of the Research 5 Results of the Research 6 Concluding Remarks References Role of Personality Traits in Work-Life Balance and Life Satisfaction 1 Introduction 2 Theoretical Framework 2.1 Personality 2.2 Work-Life Balance 2.3 Life Satisfaction 3 Method 3.1 Scales 3.2 Analysis 4 Results 4.1 Extraversion 4.2 Conscientiousness 4.3 Neuroticism 4.4 Openness to Experience 4.5 Agreeableness 5 Discussion 6 Conclusion References Factors for the Future of Work and Their Impact on the European Economy and Labor Market 1 The Future of Work 2 Factors for the Future of Work 2.1 Globalization 2.2 Digitalization 2.2.1 Automation of Jobs 2.2.2 Skills and Qualification Requirements 2.2.3 Change in Employment by Occupation 2.2.4 Rising Diversity in Working Arrangements 3 Demographic Change 3.1 Need for Training and Retraining 3.2 Potential for New Industries 3.3 Rising Inequality 4 Recommendations for Policies and Measures 5 Conclusion References Part VII: Public Economics Current Developments on the Economics of Happiness: Evidence from Turkey 1 Introduction 2 The Concept of Happiness and Factors Determining Happiness 2.1 GDP-GNP 2.2 Personal Income 2.3 Employment and Inflation 2.4 Sociodemographic Factors 2.5 Democracy 3 Research on Happiness 3.1 Happiness Researches in the World 3.2 Happiness Researches in Turkey 4 Conclusion and Suggestions References Circular Economy: New Opportunities for Growth 1 Introduction 2 Research Methodology 2.1 The Econometric Approach 2.2 The Dataset and Hypotheses 3 Results and Discussion 4 Conclusion and Recommendations References Comparative Portfolio Analysis of Selected Sovereign Wealth Funds and Case of Turkey 1 Introduction 2 Sovereign Wealth Funds 3 Purposes of Wealth Funds and Operation Fields 4 Turkey Wealth Fund 5 Selected Sovereign Wealth Funds and Temasek Holdings 6 Conclusion References Environmental Taxation in Portugal: A Contribution to Sustainability 1 Introduction 2 The Concept of Sustainable Development 3 Environmental Taxation 4 The Case of Portugal 4.1 National GHG Inventory 4.2 Environmental Taxation in Portugal 5 Conclusion and Discussion References Globally Emergent Behavioral Patterns, as a Result of Local Interactions in Strongly Interrelated Individuals 1 Introduction 2 Individualization, Digital Technologies, and Surveillance 2.1 Individualization 2.2 Surveillance and Commercialization of the Individual ́s Identity 3 Game Theory 4 Social Interaction Patterns and Diffusion Processes 5 Outerplanar Close-Knit Social Networks 6 Conclusions References Part VIII: Regional Studies Problematic Issues of Youth Unemployment in Central and Eastern European Countries 1 Introduction 2 Indicators for the Context Analysis of Youth Unemployment Situation 3 Interpretation of Indicators Regarding Youth Unemployment in CEE Countries 4 Formation of Youth Employment Policy in the European Union 5 Main Features of Youth Employment Policy in Central European Countries 5.1 Czech Republic Case 5.2 Hungarian Case 5.3 Slovakia Case 5.4 Slovenia Case 6 Main Features of Youth Employment Policy in Eastern European Countries 6.1 Estonian Case 6.2 Latvian Case 6.3 Lithuanian Case 6.4 Poland Case 7 Conclusions References Insular Region Policy in Greece 1 Introduction 2 The Issue of Insularity 3 Internal Environment Analysis of Insular Regions: Structural Features and the Physiognomy of the Greek Island Area 4 Island Policy in the EU 5 External Environment of Island Areas: Policies for the Greek Island Area 6 SWOT Analysis 7 Strategic Goals of Insular Regions: Implementation Means 7.1 Transport Sector 7.2 Education, Training, and Lifelong Learning: Employment Sector 7.3 Health and Welfare Sector 7.4 Telecommunication Sector 7.5 Local Administration Sector 8 Conclusions and Suggestions References Informatization Construction and Urban Total Factor Productivity: Empirical Analysis Based on China ́s Smart City Pilot Policy 1 Introduction 2 Empirical Design and Variable Description 2.1 Empirical Design 2.2 Data Source and Variable Description 3 Empirical Analysis 3.1 Matching Balance Test 3.2 Basic Estimation Results 3.3 Heterogeneous Regression Analysis 3.3.1 Urban Regional Heterogeneity 3.3.2 Urban Innovation Heterogeneity 3.4 Robustness Test 3.4.1 Change the Test of Efficiency Measurement Method 3.4.2 Counterfactual Test 3.4.3 Replace the Test of the Treatment Group 4 Conclusions References