Zins und Unternehmergewinn im Gleichungssystem der stationären Wirtschaft

Ohne Zusammenfassung     

Wine Tourism as an Opportunity for Tourism Development: Examples of Good Practice in Slovenia

The authors discuss wine tourism activities in the context of general tourism development in Slovenia. The country’s winegrowing areas have developed traditionally important viticulture, a relatively intensive production of typical grape varieties and in some cases also a distinct entrepreneurial spirit, which consequently reflects in tourism and regional development, based on diverse cultural heritage and natural values. Three Slovene wine regions are divided into nine wine districts with their own identities and more or less distinct terroirs. Despite a several centuries’ long tradition and a rich wine culture, it is evident that in national tourism strategies and development plans, wine tourism still does not occupy the position that it probably deserves, although most of the documents stress its potential for local or regional development. On the other hand, the authors recognize a significant interest among winemakers and tourism professionals for strategic cooperation and systematic approach to develop wine tourism in the selected destinations. The authors therefore focus on some paradoxes and emphasize examples of good practice at the national, regional, and local levels.     

Micromultinationals: Some Preliminary Evidence on an Emergent ‘Star’ of the International Entrepreneurship Field

This paper provides some preliminary evidence on the behaviour of the micromultinational, an emergent player in the international entrepreneurship field. Using survey data from the Scottish Council for Development and Industry, it found that mMNEs originate from a mixture of high and low technology sectors and employ Foreign Direct Investment as well as international contractual approaches in servicing their foreign target markets. It also concluded that micromultinationals overseas market selection decisions were mainly influenced by market- and knowledge-seeking factors rather than considerations of psychic proximity. The implications of these summary findings for policy, theory and future research are discussed in the paper.     

The Status of Lobbying in Croatia

The positions of lobbying and the lobbyist, well established in developed democratic societies, are far less clear in transitional countries. The aim of this paper is to present the current status of lobbying in Croatia through a discussion of its reputation in the media, citizens’ attitudes and the perceptions of business sector representatives. For that purpose, three groups of research results are presented. (1) In order to characterize the reputation of lobbying in the media, the results of a quantitative content analysis of information published in daily and weekly newspapers, magazines and on Internet portals are given. (2) To understand the attitudes of citizens to lobbying, the views of the young are considered. (3) Finally, to define perceptions of lobbying in the public sector and business, the results of a survey conducted among 50 employees in government institutions and 50 in the enterprise sector are presented and analyzed.     

Offshoring and Firm Performance: Evidence from the Italian Manufacturing Industry

The fundamental question of whether offshoring is value enhancing and, more specifically, whether Italian manufacturing firms that undertake offshoring benefit from higher productivity and profitability is explored. Using data from the tenth wave of the “Survey on Manufacturing Firms” conducted by Unicredit‐Capitalia, it was found that, compared with domestic firms, firms relocating activities to a foreign country have different characteristics, and “better” firms might self‐select into offshoring decision. To disentangle the effect of offshoring on firms' performances from the effect of firm characteristics, several variants of propensity score matching are used. A mild and insignificant positive effect of offshoring on profitability was found and also evidence of a statistically significant positive effect of offshoring on productivity.     

Realized volatility transmission: The role of jumps and leverage effects

This paper is the first to employ a multivariate extension of the LHAR–CJ model for realized volatility of Corsi and Renó (2012) considering continuous and jump volatility components and leverage effects. The model is applied to financial (S&P 500), commodity (WTI crude oil) and forex (US$/EUR) intraday futures data and allows new insights in the transmission mechanisms among these markets. Besides significant leverage effects, we find that the jump components of all considered assets do not contain incremental information for the one-step ahead realized volatility. The volatility of S&P 500 and US$/EUR exchange rate futures exhibits significant spillovers to the realized volatility of WTI. Moreover, decreasing equity prices appear to increase volatility in other markets, while strengthening of the US$ seems to calm down the crude oil market.     

Entrepreneurial cognition and internationalization speed: towards a potential moderating effect of experiential and rational information processing

This study explores the influence that entrepreneurial cognition, in terms of the dichotomy in human information processing, has on the earliness of internationalization and post-entry speed. Entrepreneurial cognition is investigated through the lens of the dual-process theory, which posits that human information processing is formed of two systems, the experiential cognitive system (System 1) and the rational and analytical cognitive system (System 2). The speed of the entire internationalization process is analyzed in terms of earliness (how soon after inception a company enters its first international market) and post-entry speed (how fast it enters new markets after the first internationalization). Drawing on ten cases, we find that companies that internationalized earlier and faster were managed by entrepreneurs with higher levels of the experiential cognitive system. In contrast, companies that internationalized later and more gradually were managed by entrepreneurs with higher levels of the rational cognitive system. Thus, our study reveals that the speed of the entire process of internationalization is governed, at least partially, by the entrepreneur’s cognition. On the basis of our findings, we introduce three propositions on the moderation that the entrepreneur’s cognition exerts on the well-established relations between environmental signals and both earliness of internationalization and post-internationalization speed.

     

Consumer Preference for Traditional Products in West Balkans Countries

The objective of this article is to better understand consumers' attitudes, expectations, and behavior toward traditional food among consumers in selected Western Balkans Countries (WBC). The article also presents a picture of the profile of WBC traditional food consumers (TFC) in terms of their sociodemographics, attitudes, lifestyle orientations, and behavioral characteristics. The method used for the data collection was a face-to-face interview using a structured questionnaire. In total, 800 respondents participated in the survey. WBC consumers expressed a positive attitude toward traditional food. If the researchers try to explain consumers' behavior toward traditional food, they can say that there are different types of consumers giving more or less importance to components considered traditional. The information about the profile, the image, and the actual characteristics of TFC has practical implications for marketing and communicating about traditional food, including their identification, differentiation, research and development, and positioning in the WBC food market.     

Weighted Pricing Functionals With Applications to Insurance

Abstract

We explore the role of weighted distributions in pricing insurance risks. In particular, we relate the distributions to actuarial and economic premium calculation principles and in this way provide a unifying methodology for constructing new principles and analyzing known ones.