Ekonomika

The concept of business intelligence has drawn substantial attention of both academicians and practitioners. As one of the fastest eveloping business application areas, business intelligence has also created a trail of confusion regarding its role, potential, sources of value creation. This study aimed at elucidating the role of business intelligence in the near future through the analysis of the current research and practical trends. The current prevailing trends in business intelligence technologies and systems are mobile business intelligence, location intelligence, software as a service, big data and predictive analytics. The paper points out that human factors in business intelligence are often underestimated, while a thorough consideration of their role should create additional ground for effective business intelligence applications. Some of the important considerations regarding human factors, such as support of problem-solving patterns and an efficient coordination of business intelligence activities, are presented.

Business intelligence in the process of decision making: changes and trends  898.43 KB

Jau parsisiuntė: 40

The article reviews the essence and main principles of social responsibility. The content and conception of social responsibility of a business organization is discussed mainly through elaboration of the reasons for business organizations to bear and implement social responsibility. The approach to corporate social responsibility in Lithuania and Belarus is analysed and discussed by comparing the attitudes regarding a wide range of elements related to the corporate social responsibility and its implementation. The approach of business actors of the two countries is collated through different perspectives and angles.

Corporate social responsibility: comparative analysis of the state of play in Lithuania and Belarus  1.32 MB

Jau parsisiuntė: 33

Profitability is one of the most volatile company’s financial indicators: it is affected not only by internal but also by external, macro factors. Therefore, this research was aimed at evaluating the macroeconomic impact on SMEs’ profitability. The paper presents the model with the macroeconomic factors affecting the profitability of a SME, which includes the macroeconomic indicators such as population and firms’ number in a country, exports and imports, FDI, GDP, unemployment, inflation, taxes paid, average salary, and several others. The paper also deals with the dynamics of corporate profitability in Lithuania and shows a correlation between macro factors and corporate profitability. Most of the selected macroeconomic indicators such as inflation, average wages, the number of enterprises, the monetary base were found not to be statistically significant and had no strong correlation with corporate profitability. The VILIBOR interbank interest rate changes and the unemployment have the gretest impact on profitability.

The impact of macroeconomic indicators upon SME’s profitability  993.87 KB

Jau parsisiuntė: 41

With the banking business developing, the system of bank values is becoming increasingly relevant. Adherence to the norms of the bank’s ethics helps developing and improving ties among the bank’s employees as well as relations with the clients. Appropriate behaviour and social culture on the part of the staff shape the image of the bank and stimulate loyalty in the clients. The sophisticated and reliable operation of banks can be judged both in terms of its legal and economic aspects, and ethics. The article addresses the ethics requirements for banks’ staff, deals with the analysis and assessment of the application of ethical norms in the process of rendering financial services, and reveals the principal provisions laid down in banks’ codes of ethics and estimations.

The ethics of banking: analysis and estimates  1.18 MB

Jau parsisiuntė: 34

This article presents on analysis of macroeconomic conditions in the EU countries in relation loan portfolio to credit risk and banking system interest income. The changing economic environment of banks influences their risks and activity results, so it is important to find the macroeconomic indicators that can determine the changes in debtors’ credit risk and banks’ financial condition. The banking system performs very important functions in a country’s financial system, so for its stability it is important to be able to predict the financial results of the banking system in relation to changes in the economic environment. The new Basel III Agreement seeks to improve the financial sector’s resistance to the possible negative scenarios in the economy and motivates to develop the credit risk assessment models considering their dependence on business cycles. For this reason, the statistical dependence between the set of macroeconomic factors and the loan portfolio credit risk together with interest income were estimated in this research. A statistical classification and regression tree model was developed, which allows to predict the possible changes in the interest income of a country’s banks with the 82.7% accuracy.

The ethics of banking: analysis and estimates  1.18 MB

Jau parsisiuntė: 34

The aim of this article is to analyse the application possibilities of the securitisation mechanism in Lithuania. Securitisation has been used for a few decades by banks as an instrument to decrease credit risk and broaden the sources of funding. The increasing demand for asset-backed securities has prompted the development of this mechanism. Nevertheless, despite its benefits, if used irresponsibly, this mechanism can also create risks to financial stability. Foreign capital banks dominate in the Lithuanian banking sector, and their financing structure is highly based on parent bank loans, which is the second largest financing source after deposits. As the recent economic crises have shown, the flow of this resource is unstable and pro-cyclical. Therefore, banks ought to seek additional funding sources. The issue of securities backed by bank loans could be one of those sources. The authors of this article, with the help of regression analysis, have assessed a possible effect of additional credit flow, which could be attracted by banks using securitisation, on country’s GDP. The analysis has shown that certain types of loans can significantly impact the country’s GDP growth. The most significant effect on GDP would be reached, if banks would securitize new loans issued to households and use the obtained funds to issue more loans to households.

Assessing the application of securitisation in Lithuania  822.86 KB

Jau parsisiuntė: 30

The paper deals with some aspects of sustainability of the government debt of Lithuania for a long, medium and short time horizon. The purpose of the study is to investigate the sustainability of the debt with respect to the nominal GDP growth, the interest rate on the debt, and the primary budget deficit. The differential equations calculus technique is used for the analysis of the debt. A scenario approach is used to simulate the sensitivity of the debt to economic shocks. An inequality for a non-increasing debt over a medium term is applied for the possibility to restore the level of the debt to a pre-crisis level. The sensitivity of the debt to a short movement of interest rate, the GDP growth rate and the primary budget deficit is investigated. A rule of debt change in a short run by one percentage point is formulated.

Government Debt Sustainability: the Lithuanian Case  2.17 MB

Jau parsisiuntė: 45

Usually, euroization is connected with the necessity of passing through not easy to fulfil and to maintain the Maastricht Treaty criteria and to accept (à) priori a definite course of resigning from the national currency. Upon fulfilling the required adjustment periods of euro adoption, the European law forces a total departure from the national currency. This process is subjected to a solid supervision and control of the EU organs. Additionally, the Maastricht Treaty obliges to introduce the euro when a country is in a good economic condition, confirmed by the fulfilment of nominal convergence criteria. In such a situation, the common currency adoption must be (or should be) always interpreted as a proof of a stable economic development and abilities of keeping such parameters in the future. However, in case of euroization accomplished with omission (or even with infringing) the Treaty, there is no necessity of complementing any European law duties, and especially there is no obligation of totally resigning the national currency. Such kind of euro adoption means not a full but a partial euroization, which can appear in a very difficult situation in country`s economy or when currency independence is not safe and profitable. Resignation from the national currency is like an act of desperation, or at least it is forced by the lack of the abilities to manage the economic problems. The purpose of this publication is to show euroization as state (partly also as process), particularly on the examples of Lithuania and Poland. It obviously it does not seem new, but many changes in the world economy (with special regard to the crisis hurting the European Union) and the lower enthusiasm for joining the Euroland (euro zone) show the need to consider such a problem.

The euroization of Lithuania and Poland: a comparison  2.65 MB

Jau parsisiuntė: 36

The aim of the study was identification of ultra-small territories, features of their economic development and modern business status in the context of the classification of small economies. The object of investigation is small economies of West European and Nordic countries as well as ultra-small autonomous territories of Åland and Faroes islands affiliated to Finland and Denmark, respectively. The hypothesis of the article is that ultra-small autonomous territories under consideration are developing as the “competitive sub-peripheries” due to their special industrial organization, stimulated by the national and, partially, by the EU economic policy supporting the economic growth of both autonomies. The methods of the study comprise analysis–synthesis, historical and logical methods, international comparisons. The main conclusion is that the Åland and Faroes islands are nowadays converting into the transport-logistics, informational, financial bridges among different European regions and countries.

Economic development of ultra-small peripheral west European regions (Case of Åland and Faroe Islands)  713.95 KB

Jau parsisiuntė: 30