Can social media content increase financial market returns?Andrzej Cwynar
, Wiktor Cwynar
, Robert Pater
, 2017, izvirni znanstveni članek
Opis: Background and Purpose: In recent years classic financial market theory based on decision makers’ rationality has been challenged by repeated anomalies that became a ‘new normal’. As a result, what we witness today is a considerable turn to behavioral concepts that can shed a new light on choices made by market participants. The astonishing development of social media accelerated scientific validation of such concepts, since the media opened new and capacious ‘laboratory space’ for testing behavioral hypotheses. The main purpose of the article is to examine whether financial market professionals believe that social media content can be useful in achieving additional financial market returns and to investigate the factors behind this belief.
Design/Methodology/Approach: We surveyed a sample of over 400 financial market professionals at institutions operating in Poland, and analyzed the results using logit regression models.
Results: We established that almost 60% of the surveyed finance professionals recognized the potential of social media for achieving additional returns. We also found out that the differences in respondents’ perception of this potential could be explained mainly by heterogeneity of their job experience and, to a lesser degree, by their job position. Interestingly, more experienced individuals were less likely to recognize this potential. Firm-specific factors did not have a significant effect on the dependent variable.
Conclusion: The opinions of financial market professionals regarding the link between social media and additional returns are mixed, which is consistent with the current body of evidence brought by sentiment-based research. Our findings confirm the key role of previous experience in explaining attitudes towards novelties and innovations (such as social media), a phenomenon known from other fields and everyday experience.
Ključne besede: social media, sentiment, behavioral finance, financial market professionals, financial market returns
Objavljeno: 04.05.2018; Ogledov: 77; Prenosov: 0
Celotno besedilo (711,18 KB)
Personality: blessing or curse?Michael Forster
, Philipp Parrer
, Nina Maria Wöss
, 2013, izvirni znanstveni članek
Opis: This paper is based on a study which investigates the relevance of management competencies in Austrian organizations, focusing on start-ups. The study as well as the existing literature confirms that personal competencies such as ambition, selfconfidence or assertiveness are perceived as more important by start-ups than by established companies. However, further results of the paper show that especially leadership competencies play a major role in developing a growing start-up whereas personal competencies fade into the background and can even have a negative impact on turnover growth. In general, the paper discusses special characteristics of competence classes for start-ups and examines differences and similarities in comparison to established companies. As it has already been indicated, the evidence leads to different and surprising considerations for entrepreneurs and growing start-ups.
Ključne besede: classes of competencies, entrepreneurship, start-up
Objavljeno: 04.05.2018; Ogledov: 90; Prenosov: 3
Celotno besedilo (317,98 KB)
Intercultural differences in the purchase and information behaviour of young consumersBeno Klemenčič
, Gabrijel Devetak
, Darko Števančec
, 2012, izvirni znanstveni članek
Opis: Pressures in the contemporary marketing environment are getting bigger and companies and marketers are required to know consumers and their purchase and information behaviour. In this article we studied the behaviour of consumers and the factors of purchase and information behaviour of young consumers when choosing clothes. We found out about the meaning of individual clothing characteristics having impact on the purchase decision making (price, trademark, fitting of clothing, design, quality, etc.). Consumers receive and look for information at different sources (radio commercials, TV commercials and shows, fashion magazines, catalogue sales, social networks, friends and acquaintances, etc.). With the empiric research we wanted to find out to what measure individual sources influence the purchase decision of an individual. We studied young people aged from 15 to 24 in the countries of the EU (Slovenia, Austria and Germany) and the United States of America. We especially focused on characteristic differences. Knowing intercultural differences is important for global companies of the clothing industry for forming their marketing strategies. On the sample of 440 young people who took part in the survey we found out that intercultural differences exist regarding the influence of individual information sources and regarding the factors of purchase decision making. Considering the stated we propose companies operating in global markets on both continents to prepare differentiated marketing strategies.
Ključne besede: consumer behaviour, clothing, marketing strategies, intercultural differences
Objavljeno: 23.01.2018; Ogledov: 107; Prenosov: 11
Celotno besedilo (857,95 KB)
Systemic outlook in technology-management trends of best technology/ICT companiesMarek Jemala
, 2013, izvirni znanstveni članek
Opis: In the last time, new technology generations in many industries are presented every 2-3 years. The next technology revolution is expected to be different from the previous ones because technology is present in every aspect of our society. Technology processes have more and more an interdisciplinary character, therefore must be carried out systematically and if possible in a planned form. From integration of technology processes; to customer insights that drive product and brand extensions; to spotting emerging voids that competitors miss; technology-management trends are of tremendous importance for optimum business growth and profit. The main goal of this paper is to examine particular trends related to technology-management, as well as selected business indicators of the most successful technology/ICT companies in the world. The research methodology was based on the extensive study of innovative activities described in the annual and related reports of the most profitable technology businesses.
Ključne besede: technology management, development, innovation
Objavljeno: 23.01.2018; Ogledov: 97; Prenosov: 4
Celotno besedilo (458,66 KB)
The use of the Kano model to enhance costumer satisfactionLaura Južnik
, Mitja Kozar
, 2017, izvirni znanstveni članek
Opis: Background/purpose: The interest of measuring customer satisfaction is reflected in its ability to gain customer loyalty, enhance favourable word of mouth, lead to repeat purchases and improve a company’s market share and profitability. The issue of integrating the Kano model of customer satisfaction with other models and tools to support development or improvement of a product, or to determine market strategies, is relatively unexplored in the Slovenian sector. This research aims to construct the Kano model in order to enhance customer satisfaction in the case of home appliances.
Design/Methodology/Approach: Data was collected using an online survey amongst randomly selected individuals from the service interventions for an end users database. Principal component factor analysis was first used to identify the underlying factors of home appliance characteristics. In the next phase we calculated the derived and stated importance of customer satisfaction, which was then used to construct the Kano model of customer satisfaction. We further analysed which factors are the strongest drivers, or predictors, of repeat purchase using multiple regression analysis.
Results: In the study we identified the underlying home appliance factors. The results show that these factors are: sales environment, price, user features, design features and technical features. The results were then used to construct the Kano model where the analysis goes beyond the qualitative analysis by implementing two approaches, stated and derived importance approach. According to the Kano model, marketers should concentrate on delight characteristics such as: wider knowledge of the salesperson, professional skills of the salesperson, design of home appliance, brand of home appliance. What is more, factors called ‘user features’ are the strongest predictors of repeat purchase.
Conclusion: This paper links the Kano model with measuring customer satisfaction and presents a contribution for marketing research theory. Therefore, the results could be used to support optimization of business decision-making, as well as for further scientific research.
Ključne besede: optimization, business decisions, Kano model, consumers, satisfaction, measuring satisfaction
Objavljeno: 23.01.2018; Ogledov: 82; Prenosov: 3
Celotno besedilo (842,90 KB)
Hotels and Halal-oriented productsMetod Šuligoj
, Helena Maruško
, 2017, izvirni znanstveni članek
Opis: Background and Purpose: Tourists from the Islamic world are significant stakeholders in the tourism market. The purpose of this paper is to identify the key aspects of halal tourism in connection with the hotel industry. Furthermore, we want to determine whether hotel managers are familiar with halal certification and on what basis they would opt for it.
Design/Methodology/Approach: The research focuses on halal goods, services, and facilities, in general, and specifically in Slovenian hotels; concepts, contemporary trends, and the situation in Slovenia are presented. In response to the literature review, we applied the analysis of the factor loadings to define the important factors that influence the decision-making process; by applying PCA, we reduced the dependent variable to a single factor (although predictions were slightly different).
Findings: The most important elements in the adoption of the certificate are the simplicity and efficiency of the procedure itself and the fact that the process does not require major financial investments. The element that significantly influences the managers% decision-making process is the possibility of adjusting to the standard of the certificate.
Conclusion: The paper's main contribution is to deepen the perspective of the development of tourism in an area that remains a relatively undeveloped and unknown niche within the Slovenian tourism/hospitality industry but very promising in the global context.
Ključne besede: hotel managers, halal certificate, Islam, thematic offer, Slovenia, Croatia
Objavljeno: 23.01.2018; Ogledov: 87; Prenosov: 5
Celotno besedilo (578,08 KB)
Analysis of individual aspects influencing non-purchasing in an online environment and consumer willingness to purchase custom-made apparelMilica Žuraj
, Petra Šparl
, Anja Žnidaršič
, 2017, izvirni znanstveni članek
Opis: Purpose: The main purpose of the study was to assess the opinion of online consumers about the possibility of making custom apparel using 3D body scanning technology in an online environment and to investigate the shopping experience of consumers who purchase in the online apparel market. In order to be able to propose solutions to improve the online shopping experience, we also investigated aspects influencing non-purchasing in an online environment.
Methods: An online questionnaire on shopping experience, influences on the purchase, and the process of online apparel shopping using advanced technology was prepared and distributed via several online channels to the consumers who purchase apparel online. The questionnaire was completed by 76 respondents from different European countries, the United States and Australia. In order to analyze individual aspects influencing non-purchasing in an online environment, an exploratory factor analysis was performed.
Results: The factor analysis revealed that the two broad dimensions of reasons why consumers have never bought any ready-to-wear apparel online despite browsing are a misperception of product integrity and time-consuming searching. The results show that the proposed solutions to improve the online apparel experience, such as making custom apparel using advanced technologies, have a positive impact on the decision of the consumers to purchase on the online apparel market. It turned out that a high proportion of potential consumers are willing to share their body dimensions through 3D body scanning technology in order to improve the fit of the apparel.
Conclusion: According to the results, we expect that the advanced 3D body scanning technology would provide substantial progress regarding fit, visualization, and manufacturing of custom-made apparel when purchasing in online stores.
Ključne besede: online shopping apparel, custom made apparel, counsumerʼ shopping experience
Objavljeno: 23.01.2018; Ogledov: 64; Prenosov: 2
Celotno besedilo (633,33 KB)
Work-life balance by area, actual situation and expectationsTatjana Kozjek
, Nina Tomaževič
, Janez Stare
, 2014, izvirni znanstveni članek
Opis: Background: The question of work-life balance (WLB) is an area where increasing attention is being paid nowadays. States, organisations and employees all have responsibility and a role to play in WLB. This article presents the important areas of the WLB by key players in this field.
Purpose:The purpose of the research was to compare and analyse the differences between the actual situation and the expectations of employers and employees with regard to specific areas of WLB in Slovenia.
Methodology: Data was gathered using the Computer Assisted Web Interview (CAWI) method. In the first part of the research project, employers across all sectors of the economy in Slovenia were questioned and in second part focussed on employees. In order to verify the areas in which employers and employees agree and those in which there are differences in perception, multidimensional scaling (MDS) was used.
Results: The results of our research show that Slovenian organisations must pay more attention to flexible working time, the employeesʼ ability to take time off to care for family members, time and stress management workshops and paid leave for parents on a childʼs first day of school.
Conclusion: A significant role in WLB is played by organisations. The incorporation of WLB strategies into the strategic and financial planning of an organisation can, in fact, have positive business, economic and social effects. Employees have to express their expectations and needs, which is the only way that employers can be made aware of their problems and help with WLB. State responsibility is to encourage all social partners to shape the living environment in which employeesʼ can achieve a good WLB with an emphasison gender equality.
Ključne besede: work-life balance, employer, employee, multidimensional scaling, Slovenia
Objavljeno: 23.01.2018; Ogledov: 72; Prenosov: 14
Celotno besedilo (810,61 KB)
Weibull decision support systems in maintenanceKhalid Aboura
, Johnson Agbinya
, Ali Eskandarian
, 2014, izvirni znanstveni članek
Opis: Background: The Weibull distribution is one of the most important lifetime distributions in applied statistics. Weibull analysis is the leading method in the world for fitting and analyzing lifetime data. We discuss one of the earliest decision support system for the assessment of a distribution for the parameters of the Weibull reliability model using expert information. We then present a different approach to assess the parameters distribution.
Objectives: The studies mentioned in this paper aimed to construct a distribution of the parameters of the Weibull reliability model and apply it in the domain of Maintenance Optimization.
Method: The parameters of the Weibull reliability model are considered random variables and a distribution for the parameters is assessed using informed judgment in the form of reliability estimates from vendor information, engineering knowledge or experience in the field.
Results: The results are the development of modern maintenance optimization models that can be embodied in decision support systems.
Conclusion: While the information management part is important in the building of maintenance optimization decision systems, the accuracy of the mathematical and statistical algorithms determines the level of success of the maintenance solution.
Ključne besede: Weibull distribution, reliability, inference, maintenance, expert opinion
Objavljeno: 23.01.2018; Ogledov: 60; Prenosov: 6
Celotno besedilo (527,86 KB)