Socioeconomic Challenges

Journal Information
ISSN / EISSN: 25206621 / 25206214
Total articles ≅ 250

Latest articles in this journal

Mahabuba Khanm Mim, Mahide Hasan, Afzal Hossain,
Published: 1 January 2022
SocioEconomic Challenges, Volume 6, pp 48-61; https://doi.org/10.21272/sec.6(3).48-61.2022

Abstract:
The tourism industry has become an important sector that has a substantial influence on the development of a country’s economy. One of the most significant benefits of tourism includes the construction and improvement of local infrastructure. Tremendous opportunities waits for Bangladesh as she has potentials to attract both local and global tourists. However, tourism and destination marketers should utilize different marketing tactics to content and retain existing customers, encourage new and prospective ones. The research was to examine the impact of destination familiarity, destination image, safety and security, travel motivation, social media and reference groups on tourists’ destination choice in the contexts of Bangladesh. The research design of this study was descriptive. The study was used purposive sampling method. Primary and secondary data both were used. Primary data were collected through a structured questionnaire by survey method from 256 Bangladeshi tourists visiting to tourism destination using a five-point Likert scale. Statistical package for the social sciences (SPSS) 25.0 version software was used for analysis the data. It was analysed using descriptive statistics analysis, multicollinearity test, reliability analysis and multiple regression analysis. The results of the regression analysis revealed that all aspects except travel motivation had a significant and positive influence on destination choice in Bangladesh. Therefore, it is recommended that the research creates awareness among prospective tourists, investigators, academicians, government authorities, tourism businesses, politicians and all the stakehold
Tetiana Dotsenko, Svitlana Kolomiiets
Published: 1 January 2022
SocioEconomic Challenges, Volume 6, pp 97-106; https://doi.org/10.21272/sec.6(3).97-106.2022

Abstract:
The paper emphasizes the importance of human health as the most valuable, most important resource at the individual and national level, affecting the country’s socio-economic development and competitiveness. It states that it is necessary for the actors ensuring the public health system to form a new concept for the functioning of the health system, taking into account the current state of public health, the functioning of medical institutions, and the resource support of the healthcare industry. The primary purpose is to conduct a bibliometric analysis of scientific publications dealing with the global behavioral and social dimension of the public health system. The systematization of literary achievements and approaches to solving this problem has been carried out, which indicates the need for proper attention and high-quality, conceptual, international research by world scientists on issues related to the state and level of public health, satisfaction with the healthcare system. The relevance of the analysis of research on the behavioral and social dimension of the public health system of the world implies that the further development of the healthcare industry necessitates research, intensive development, and dissemination of available scientific and methodological international experience in solving this issue of the public health system in different countries worldwide. The research consisted of four stages. A map of the interrelationships of key concepts with other scientific categories has been constructed; a content-contextual study of the constructed blocks of bibliometric analysis has been implemented; an inter-cluster analysis has been carried out. A map of the interrelationships of the key concepts under study with other scientific categories has been constructed, reflecting the dynamics in the form of a contextual-time block; the evolutionary-time prospects of the study have been determined. A geographically extensive map of the scientific bibliography of the categories under study has been constructed; the spatial component of the study has been analyzed. A territorially branched map of the spatio-temporal dimension of the category under the study in dynamics has been constructed. The methodological tools of the research are theoretical (grouping, abstraction, synthesis) and empirical methods (observation, description), research methods, services of the Scopus information platform, and VOSViewers tools.1.6.15. The study was conducted based on the publications indexed by the Scopus database for 2000-2020. The objects of research were the following scientific categories: “health care system, medical services, behavioral aspect, social aspect,” the countries United States, Germany, Norway, Greece, United Kingdom, Australia, Canada, India, Netherlands, China, Brazil, Switzerland, Denmark, Belgium, Iran, Japan, Italy, Spain, because these two groups of objects allowed to conduct two-directional analysis of the problem under study. The results of the bibliometric analysis presented in the paper showed that the aspect of the behavioral and social dimension of the public health system was relatively young and insufficiently developed; the attention of the scientific community for a long time on this issue was mainly concentrated in the United States and the United Kingdom. China, Iran, and Japan were less involved in this process at an earlier time interval, but this research became relevant for them in recent years. The study results can be used to identify the most potential priority areas for forming the policy and strategy of the state health system, based on determining the main significant, modern, relevant characteristics of the healthcare industry.
Enriko Ceko
Published: 1 January 2022
SocioEconomic Challenges, Volume 6, pp 5-22; https://doi.org/10.21272/sec.6(3).5-22.2022

Abstract:
The purpose of this study was to offer a new approach to evaluate the index of ISO 9001 standard, as so far countries are listed for the ISO 9001 standard based only on the number of ISO 9001 certificates issued for each country, and this perception does not correspond to reality, because some countries that are listed per alphabetic order on top, doesn’t enjoy the property of having a better ranking when it comes to rank countries per number of ISO 9001 certificates issues, or when it comes to rank countries about their weight on the issue. On the other side, listing countries simply by the number of ISO 9001 certificates issued, doesn’t reflect the real weight of countries on the issue, because this rank should be adjusted with the number of businesses of countries taken into consideration, better understanding of ranking models used. A new approach to ranking countries about this issue is needed, reflecting the issue of taking into consideration the number of ISO 9001 certificates issued in a country per number of businesses in that country, as a better way of evaluating the index of ISO 9001 standard. The methodology/method used to conduct this study were (1) the data collection on the number of ISO 9001 certificates issued per country, (2) the data collection on the number of businesses in each country, (3) the division of the number of ISO 9001 certificates issued with the number of businesses, (4) construction of a new ranking list of countries based on the ISO 9001 standard index, (5) inversing the list to give the right value/rank of countries, and graphics draw of the new approach for better visualization and understanding the issue. The main conclusion of this study is that a new approach is needed to evaluate the index of ISO 9001 standard as a more appropriate indicator for listing/ranking countries and this serves all those interested in the academic field, public administration, and the reports and studies of the national and international level of organizations, to create a better perception of doing business in general and on the aspects of quality management in particular, especially when it comes to making the most appropriate comparisons between countries on these issues, weighting them numerically and graphically, as well as helps on understanding, and for a better approaching of socio and economic issues related to ISO standards and continuous improvement of people and organizations.
Meera Mehta, Shivani Arora, Shikha Gupta, Arun Jhulka
Published: 1 January 2022
SocioEconomic Challenges, Volume 6, pp 39-47; https://doi.org/10.21272/sec.6(3).39-47.2022

Abstract:
Purpose. Microblogging sites are being used by people across the globe to share their opinions and to express sentiments for everything in real time. Through social listening, companies analyse the sentiments to assess the way forward, and the researchers use it to analyse the trend or an event and give forward-looking recommendations. The objective of the paper is to analyse the sentiments of people relating to Paytm IPO which can be used to predict the way forward. Design/methodology/approach. The study attempts sentiment analysis. For this purpose, QSR NVIVO 12, the qualitative analysis tool was used to retrieve the tweets from the Twitter website. NCapture was installed for this purpose. Post data cleaning, stemming, query augmentation and classification, the Twitter data was analysed. Findings. The sentiments around the IPO of Paytm have been negative and sarcastic. The extremely negative tweets were near twice the number of extremely positive tweets. Practical implication. The study can help an investor in evaluating the investment that they might be planning in the given company. For the company, whose IPO is being considered, an analysis of the sentiments around the IPO can help in taking corrective measures, if the sentiment is negative, towards reputation building. Originality/value. The study is an original contribution to the extant literature in the field of sentiment analysis.
Nijat Gurbanov, Nargiz Yagublu, Narmin Akbarli, Ibrahim Niftiyev
Published: 1 January 2022
SocioEconomic Challenges, Volume 6, pp 23-38; https://doi.org/10.21272/sec.6(3).23-38.2022

Abstract:
One of the key challenges for businesses during the Covid-19 pandemic has been to maintain financial sustainability despite the public crisis and consumer demand shocks. While some companies have managed to digitize and cope with the new realities, others have not. This will determine the future of companies and the direction of anti-crisis tools in management strategies. The purpose of this study is to analyze the use of digitalization as an anti-crisis tool among Azerbaijani businesses during the Covid-19 outbreak. The data set is based on voluntary survey data gathered from key businesses of the Azerbaijan economy. Our analysis applied k-means clustering, the related-samples Wilcoxon Signed Rank test and the independent-samples Mann-Whitney U test to learn whether there was any connection between digitalization and financial sustainability. Our findings indicate that 42% of the businesses that participated in the study obtained benefits by using digitalization as a crisis management tool during the Covid-19 pandemic period, but 38% of the respondents did not report any significant changes in their businesses despite increased digitalization efforts. Moreover, 20% of the businesses examined experienced negative changes after digitalization. The results of the independent-samples Mann-Whitney U test indicated that those businesses that had high scores before and after the increased digitalization efforts during the Covid-19 pandemic, achieved higher median profits, while the businesses with lower scores experienced a financial loss. As can be seen from the results, the chances of benefiting from digitalization are rather uncertain for local businesses. The main policy conclusion from this study is that businesses in Azerbaijan need to address the digitization challenge comprehensively to increase benefits and reduce costs. The results of our study are useful for business owners, policy makers, and top managers when developing strategies for enterprise-level digitization, especially during and after viral outbreaks.
Byyiyet Josiah Jacob, Yusha’U Ishaya, Shem Yunusa Bajama
Published: 1 January 2022
SocioEconomic Challenges, Volume 6, pp 123-131; https://doi.org/10.21272/sec.6(3).123-131.2022

Abstract:
Over the last decade, much research has been conducted in the field of human resource management (HRM) and its associations with organizational performance. Prior studies have found substantial positive evidence for statistical associations between HRM and organizational performance. The purpose of this study is to investigate the relationships between HRM practices and firm performance. This study examines the relationships among HRM practices and firm performance. The researcher adopted the descriptive survey design. Primary data was sourced through the instrument of questionnaire. The total of 13 department which comprises of 305 employees which the sample size needed to carry out our survey was 75 in order to achieve 90% precision from the sample. The research study is drawn scientifically using the stratified random sampling technique. The findings revealed among others HRM has a great impact on organizational performance and the conclusion is a stimulus to Nigeria breweries through a well-coordinated HRM practices, value added to company’s production processes and the contribution made by each employee have more effect on the results obtained by the organisation. This finding leads to the conclusion that HRM can bring about a higher organisational performance for firm. The researcher recommended among others that HRM should endeavor to have a well-structured effective organizational performance in order to achieve the set up objectives and in order to improve employees efficiency and effectiveness towards achieving the organisational goals, the appraisal period should be more frequent probably every quarterly and various motivational instrument should be introduce to entice employees to perform better and these would go a long way in fostering an understanding of multicultural work climate and enhancing the building of a truly agile Nigeria breweries, Kaduna.
Fernando Alonso Ojeda Castro
Published: 1 January 2022
SocioEconomic Challenges, Volume 6, pp 132-147; https://doi.org/10.21272/sec.6(3).132-147.2022

Abstract:
The document seeks to follow up on companies, entrepreneurs and States, on the issue of strategy and entrepreneurship. For this, two parts are taken, “Companies and take-off strategies typical of central and southeast Asia, before the pandemic”, there are unicorn companies, ventures, new versions of organizations before COVID, period from 2012 to 2019. The cases to be studied come from companies, States, organizations, which are located in the center, such as in Southeast Asia: the Republic of India and the People’s Republic of China. It also takes the leading countries of Southeast Asia, led by Japan, first-generation of the Asian Tigers, Singapore, South Korea, Republic of China Taiwan (ROC); second generation, Thailand, Indonesia, Vietnam, among others. Then, strategic cases are described, analyzed, and sought, in the period 2021-2022, the same countries of Central Asia, plus Japan, the first-generation Tigers, all those previously analyzed, plus Hong Kong and the Second generation, all the analyzed in the previous period, plus Malaysia and Cambodia (OJEDA F. A., 2014). Sectors associated public policies, business strategies, exact cases of companies are observed, for each country, before and after the pandemic until today, 2022. With this research scheme, the reader establishes a “road map” of the companies, which has been generated from a highly volatile international environment, but with great opportunities. It is also an attempt to show a business “catalogue of practices” from these countries, which can be an example for Western organizations, in times of global crisis and international price volatility, especially affecting the value chains of food commodities, energy and basic electronic supplies.
Paul F. Gentle
Published: 1 January 2022
SocioEconomic Challenges, Volume 6, pp 157-158; https://doi.org/10.21272/sec.6(3).157-158.2022

Abstract:
Jan Tinbergen was the first Nobel prize winner in economics. He shared that honor with Ragnar Frisch. The focus of their research that earned the Nobel prize, was “pioneering work in the field of econometric, the field at the intersection of statistics, mathematics, and economic theory” (p. 125). Erwin Dekker, a cultural economist provides this very comprehensive book about Jan Tinbergen. Dekker is on the faculty of Erasmus University, in Rotterdam, Netherlands.
Halil D. Kaya
Published: 1 January 2022
SocioEconomic Challenges, Volume 6, pp 80-96; https://doi.org/10.21272/sec.6(3).80-96.2022

Abstract:
In this study, we examine whether different types of regulations affect the composition of small business owners in U.S. states. We employ a national survey titled the “United States Small Business Friendliness Survey”. This survey asks small business owners their opinions on different types of regulations (i.e. “health and safety regulations”, “employment regulations”, “tax code”, “licensing regulations”, “environmental regulations”, and “zoning regulations”). The survey also asks business owners questions on their own characteristics like “position in the firm”, “previous entrepreneurial experience”, “gender”, “age”, “political view”, “education level”, and “race”. Our results show that each regulation category affects almost all categories of owner characteristics. The exceptions are the following: “Health and safety regulations” do not affect position in the firm, “employment regulations” do not affect gender and age, “tax code” does not affect position in the firm and age, “licensing regulations” and “environmental regulations” do not affect position in the firm and gender, and “zoning regulations” do not affect position in the firm, previous experience, and gender. “Health and safety regulations” affect gender, age, political view, education level, and race. “Employment regulations” affect previous entrepreneurial experience, political view, education level, and race. “Tax code” affects previous entrepreneurial experience, gender, political view, education level, and race. “Licensing regulations” affect previous entrepreneurial experience, age, political view, education level, and race. “Environmental regulations” affect previous entrepreneurial experience, age, political view, education level, and race. “Zoning regulations” affect age, political view, education level, and race. Overall, our findings indicate that regulations affect the geographical choice of entrepreneurs. The states with a more favorable score in a certain area of regulation attract a certain group of entrepreneurs. Policymakers should consider these findings when devising their strategies to attract certain types of entrepreneurs to their states.
, Vadym Dun
Published: 1 January 2022
SocioEconomic Challenges, Volume 6, pp 107-113; https://doi.org/10.21272/sec.6(3).107-113.2022

Abstract:
This article summarizes the arguments and counterarguments in the framework of the scientific discussion on the problem of identifying, using the Granger test, the components of macroeconomic stability of Ukraine most sensitive to the destructive impact of Covid-19. The study’s primary goal is to select from among many macroeconomic indicators precisely those that cause epidemiological surges in morbidity and mortality of the population using the example of the Covid-19 pandemic. The systematization of literary sources and approaches to solving the problem of finding determinants that affect the course of the pandemic shows many views among the scientists of the world. Still, they do not establish a single opinion. The study of the topic of identifying the influence of indicators of macroeconomic stability on the destructive impact of the pandemic in work is carried out in the following logical sequence: 1) systematization of literary sources according to the topic of the study; 2) creation of a statistical database that meets the requirements of the chosen methods; 3) bringing the obtained time series to a comparative form and achieving their stationarity; 4) conducting a two-sided test to identify causality. The methodological tools of the research methods were the Dickey-Fuller test for detecting a unit root and stationarity of a series, ways to achieve stationarity of a series using different methods, and a two-sided Granger test for detecting the causality of indicators. The object of the study is Ukraine; the term of the study is the beginning of the pandemic from February 2020 to December 2021. The article presents the results of an empirical analysis of the identification of the components of macroeconomic stability of Ukraine most sensitive to the destructive impact of Covid-19, which showed that such indicators exist and the causal relationship exists in both directions. The study empirically confirms and theoretically proves that the most influential factors are the consumer price index and inflation, which cause the variability of the number of infected and deaths in Ukraine. The study results can help create regional and national patterns of resistance to the destructive impact of the pandemic on macroeconomic stability.
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