Problems and Perspectives in Management

Journal Information
ISSN / EISSN : 17277051 / 18105467
Current Publisher: LLC CPC Business Perspectives (10.21511)
Total articles ≅ 606
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Svitlana Tsymbaliuk, Dariusz Wyrwa, Tetiana Shkoda
Problems and Perspectives in Management, Volume 17, pp 80-92; doi:10.21511/ppm.17(4).2019.07

Abstract:The purpose of the paper is to develop indicators and standards for assessing the remuneration policy in terms of decent work at the regional level and to approbate the developed tools for assessing the data of remuneration policy research in Kyiv region. The analysis of the labor remuneration policy at the regional level has been based on the developed indicators using case study, statistical method, comparative analysis, analogy method and content analysis. The findings have shown negative trends, in particular the inefficiency of social standards, the low level of wages, the arrears of wages, the unsatisfactory wages structure and the low level of collective-contractual regulation of remuneration. The low level of remuneration, which does not provide an expanded reproduction of the labor force, is a significant drawback in wages in Kyiv region in comparison with wages in Kyiv city, which demotivates employees and leads to migration abroad. The necessity for remuneration policy improvement based on the decent work concept has been proved. Indicators and standards can be used by regional state administrations, state authorities, trade unions, employers’ organizations for analyzing the labor remuneration policy and identifying the directions for its improvement in order to implement the decent work concept and increase the welfare of employees. Public authorities can use the developed indicators for comparing and ranking the regions and finding out the leaders in the implementation of decent work concept.
Ji-Young Ahn, Wang Chaoyu
Problems and Perspectives in Management, Volume 17, pp 52-61; doi:10.21511/ppm.17(4).2019.05

Abstract:This study revisits the relationship between job stress and turnover intention for employees using a sample of employees in public companies of Korea. The authors investigate both the effect of job stress on turnover and the process by which job stress affects employee turnover. In particular, they prove that job satisfaction mediates the relationship between stress and turnover intention of the employees. Furthermore, the authors explore the job stress-turnover relationship by extending a review of the organizational justice perspective and posit whether an employee perceived organizational justice could mitigate the presumed adverse effects of job stress on turnover intention. They suggest empirical evidence that there is a significant positive relationship between job stress and turnover intention, and that job satisfaction partially mediates this relationship. However, the authors found no strong evidence of moderating roles of perceived organizational justice. Based on the job demands-resources (JDR) model, the relationship between job stress and turnover intention is evidenced. Besides, the study implies that the incidence of perceived organizational justice fails to mitigate the effect of these value-decreasing job stressors on employee turnover.
Viktoriia Koilo, Ola Honningdal Grytten
Problems and Perspectives in Management, Volume 17, pp 62-79; doi:10.21511/ppm.17(4).2019.06

Abstract:The paper investigates the offshore crisis 2015–2017 and its impact on central international offshore oil and gas related maritime cluster, the Blue Maritime Cluster, located at the North-Western coast of Norway.This complete maritime cluster, heavily involved in offshore petroleum operations, it experienced an almost devastating blow, as it lost almost one-third of its employees as its value added contracted by 39 percent.When the crises is basically seen as a result of falling of oil prices and lower activity and squeezed profit margins, this paper investigates the crisis in the light of financial instability and reactions down the maritime supply chain. By collecting data from the Blue Maritime Cluster and the Norwegian central company register one is able both to trace the fall in the activity due to the crisis and measures of financial strength. The study approaches the data by using a structural time series analysis in order to map cycles as deviations from polynomial trends.The findings ascertain that financial instability was dominant within the Blue Maritime Cluster during its boom before the crisis. Debt ratios and thereby gearing (leverage) were high. Thus, the companies could not meet their obligations when the crisis hit.The paper also finds that narrow focused supply chain management made the cluster fall deep into the abyss. Companies with a more diversified portfolio were able to meet the hard years better than others.
Lenka Říhová, Přemysl Písař, Karel Havlíček
Problems and Perspectives in Management, Volume 17, pp 38-51; doi:10.21511/ppm.17(4).2019.04

Abstract:The goal of this article is to define the key factors for the development of cross-generational creative teams, the application of which can help businesses achieve maximum use of their human capital and thereby increase their innovative potential. The need to explore this issue is due not only to technical and technological development, which is fundamentally changing the content of work and the approach to work, but also due to the current lack of workers on the labor market of the Czech Republic and other EU countries. Findings from this article are based on a quantitative study on the research sample of 341 SMEs from the EU for the period 2017–2019. The data examined were obtained based on a personalized questionnaire in the SMEs. The outputs of the key factors for innovation potential of cross-generational creative teams’ linear correlation were further validated by experimental testing on a selected set of successful creative teams. During this testing in the form of in-depth semi-structured interviews, key areas of human resource management were defined in order to achieve more efficient use of human capital. It was confirmed that cross-generational creative teams have an influence on the innovative planning or financial health of a company, and four key areas of HR management were defined to increase the innovation potential of human capital: care and motivation of existing creative team members; acquisition of new creative team members; defining the competencies of creative team members; communication and digital culture.
Mduduzi J.K. Bophela, Njabulo Khumalo
Problems and Perspectives in Management, Volume 17, pp 26-37; doi:10.21511/ppm.17(4).2019.03

Abstract:Stokvel is a type of ‘rotating savings and credit associations’ found only in South Africa (SA) which have an estimated value of R49 billion and a membership of 11,5 million, in a country with a populace of 57million and an informal economy with a total value of R160 billion – yet remain a hidden sector of the economy. This confirms that there is a shortage of the consulted literature on the model for integrating the stokvels into the economic policy framework of a municipality. Therefore, developing the stokvel industry could be key to poverty alleviation, reduction of unemployment and broadening equitable access to the ownership of the economy and capital accumulation; thus, improving the livelihoods and raising the standard of living. The objective of the paper is to determine the economic contribution factors of stokvels in the economic transformation of SA at a municipality level. The paper used a mixed methods design. A sample size of 395 stokvel groups’ respondents for the quantitative research was selected using a simple random probability sampling method. The response rate was 100 percent. For the qualitative part, six policy-makers were interviewed using the purposive non-probability sampling method. The paper revealed that the money saving and investment, business opportunities and job creation, and policy development were the main economic contribution factors of stokvels in SA at the municipalities. The paper recommended for policy-makers to formulate an economic transformation policy framework inclusive of stokvels and to adopt their economic contribution factors.
Svitlana V. Onyshchuk, Zoriana Buryk, Pavlo V. Knysh
Problems and Perspectives in Management, Volume 17, pp 13-25; doi:10.21511/ppm.17(4).2019.02

Abstract:The process of assessment of economic potential of territories and its governance is a complex task in emerging markets countries, such as Ukraine. This requires the creation of an effective evaluation system and management mechanisms. The paper aims to develop the assessment system of the economic potential of the territories under the conditions of sustainable development and the main components of its management. Methods of research are as follows: analysis, synthesis, systematization, standardization, etc. The integral indicator of the dynamics of the economic potential of Ukrainian regions assessment in the context of sustainable development is substantiated; it includes environmental, investment, institutional, innovation, cluster, infrastructure, financial, export and human capital indices. As a result three groups of regions with different levels of economic potential dynamics have been identified and clustered: regions with a high level of economic potential dynamics; regions with a stable level of economic potential dynamics; regions with low or negative levels of economic potential dynamics. The obtained results ascertain that special attention should be paid to the environmental, investment, innovation and institutional components of the economic potential management.
Emmanuel Ozordi, Dorcas Titilayo Adetula, Damilola Felix Eluyela, Adenike Aina, Mautin Arinola Ogabi
Problems and Perspectives in Management, Volume 17, pp 1-12; doi:10.21511/ppm.17(4).2019.01

Abstract:Cash holding decision is a very crucial decision that strongly affects the performance of an organization. Corporate dynamism as a corporate governance tool was explored in this study in order to establish its relationship with cash holding decision in listed manufacturing companies in Nigeria. Board skill, female leadership, foreign directors, board ownership and directors’ compensation were used as proxies for corporate dynamism. A panel regression model was adopted in this study to examine the implication of corporate dynamism on cash holding decisions spanning six years from 2012 to 2017. Random sampling technique was employed in order to arrive at thirty firms out of thirty-seven listed manufacturing firms, which comprised industrial and consumer goods sector. Board ownership and the existence of foreign expatriates were found to have a significant effect on cash holding decisions. It is concluded that directors with significant holdings tend to be more aggressive towards activities that enhance the performance of a firm, one of which is ensuring that optimal level of cash is held at a particular point in time in order to guide against liquidity problems, which may be caused by overtrading or even keeping excess idle cash, which is supposed to be invested in profitable ventures. Also, the fact that the existence of foreign expatriates will affect cash holding decisions, which may be justified by the fact foreign expatriates are displaying expertise because of diverse experience that they have been able to gain from different parts of the world.
Tetiana Melnyk, Ludmyla Kudyrko, Kateryna Pugachevska, Iryna Sevruk
Problems and Perspectives in Management, Volume 17, pp 508-520; doi:10.21511/ppm.17(3).2019.40

Abstract:In the context of neo-protectionism and in terms of WTO membership, regulatory mechanisms for promoting the national producer and country’s external expansion require an institutional basis. This paper primarily aims to explore the resource and institutional component in promoting Ukraine’s exports to Chinese market and to identify the level of Ukraine’s export promotion system effectiveness based on combinatorial approach, which includes the calculation of quantitative indicators of foreign trade in the form of international production and marketing cooperation and estimation of qualitative parameters of export promotion effectiveness. The empirical findings indicate following: high dynamism of increasing mutual trade volume; enlargement of trade flows asymmetry caused by the negative trade balance of Ukrainian economy; limited list of commodity groups of Ukrainian exports in mutual trade with China with stable relative advantages; dominance of low-value-added commodities among export priority groups; absence of beneficial effect of such a factor as “long-term partnerships” in the mutual trade flow. The paper reveals that national export promotion system in Ukraine can be characterized by low efficiency and strong potential for growth. The authors emphasize the importance of intensifying the projects and mechanisms of financial and investment support for exporters with increasing the level of their innovative orientation. Prospects for further research in this area are as follows: the assessment of macroeconomic effects from the introduction of export promotion tools for the national economy of countries of origin of goods and importing countries; detection of anticompetitive risks in the implementation of selective support programs for exporters.
Nataliya P. Kuznetsova, Galina Chernova, Evgenija Prokopjeva, Natalja Boldyreva
Problems and Perspectives in Management, Volume 17, pp 492-507; doi:10.21511/ppm.17(3).2019.39

Abstract:Insurance is the most important institution for social and financial protection. Therefore, the development level of the regional insurance market not only determines the volume and quality of this protection, but also influences the social and economic development of the region through the coverage of risks and the provision of additional jobs. In turn, many factors have a significant impact on the development of the regional insurance market itself. This study is aimed at developing a model for governing the development factors of the regional insurance market, which (governance) focuses on improving the development efficiency of not only the regional insurance market itself, but also the socio-economic development of the relevant region. In this regard, the model for governing the factors of development of the regional insurance market involves solving the following scientific problems: identifying national factors for the functioning and development of the Russian insurance market that influence the development of the regional insurance market; determining regional development factors affecting the regional insurance market; identifying the impact of the regional insurance market on the socio-economic development of the region; developing recommendations on the effective impact of national and regional factors on the regional insurance market development and, through it, on the socio-economic development of the region. Implementation of the proposed model for governing the factors for the regional insurance market development will increase its efficiency and strengthen the socio-economic development of the region.
Оlena Iastremska, Hanna Strokovych, Oleksiy Dzenis, Olena Shestakova, Timur Uman
Problems and Perspectives in Management, Volume 17, pp 477-491; doi:10.21511/ppm.17(3).2019.38

Abstract:Investment and innovative development of industrial enterprises is driven by the influence on the sensitive indicators of their activity, which characterize technological singularity. Therefore, it is expedient to define them using adequate economic and mathematical methods that will identify the development and growth points that are characterized by the accumulation of information and are a manifestation of singularity. The purpose of the article is to determine the main sensitive indicators of the investment and innovative development of industrial enterprises, which are the points of technological singularity. The article proposes conceptual provisions for evaluating the investment-innovation activity of enterprises as a basis for their development. These provisions consider the activity of economic entities according to three states (functioning, growth, and development); evaluation of investment and innovation activities, both individually and in conjunction with the official statistical reporting of enterprises using a well-founded minimum sufficient system of partial indicators defined through the multidimensional factor analysis and combined into integral and summarizing indicators; determination of technological singularity points as a result of prediction of partial and summarizing indicators’ values via the neural networks method. A methodological approach is developed to substantiate the technological singularity points, the managerial influence on which is provided by the development of enterprises. The methodological approach is based on considering the investment-innovation activity nonlinearity, both explicit and latent tendencies of development, situationality and variability of its goals, strategic orientation and possible technological singularity of an enterprise. The proposals submitted were implemented based on statistical reports of the machine-building enterprises for 2014–2018.