Managerial Economics
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ISSN 1898-1143
e-ISSN: 2353-3617
Issue Date
2022
Volume
Vol. 23
Number
No. 1
Description
Journal Volume
Managerial Economics
Vol. 23 (2022)
Projects
Pages
Articles
Development of key performance indicators of capital market-oriented entities in the Prime Standard since the introduction of DRS 20
(Wydawnictwa AGH, 2022) Blumenstein, Philipp; Schmidt, Robert C.; Hastenteufel, Jessica
This paper examines the performance indicators of 168 Prime Standard entities since the introduction of DRS 20, focusing on the core question of how the use of performance indicators has changed over time. For this purpose, we compare the published key performance indicators from various companies in different years to point out existing differences. Furthermore, we examine which KPIs are changed most often and how frequently businesses adjust their performance indicators. The companies examined are differentiated according to size and sector.
Changes in the quality of bank loan portfolios in EU countries - with the particular case of Poland
(Wydawnictwa AGH, 2022) Kosztowniak, Aneta
As non-performing loans (NPLs) can cause monetary crises that may turn into financial crises affecting an entire economy, monitoring them is very important. If NPLs are not identified and recognized efficiently, both in terms of speed and scope, NPL resolution effectiveness is undermined, which in turn will have negative effects on the banking sector and ultimately on GDP growth. The main aim of this article is to identify changes in the quality of bank loan portfolios in European Union (EU) countries in 2009-2021, using an example of the Visegrad Group (Czech Republic, Poland, Slovakia, Hungary) as well as France and Germany. Keeping in mind the fact that the share of loans to households in EU portfolios is approximately 60%, it has a significant impact on the share of non-performing loans (NPL) in a bank's entire portfolio. Therefore, it is important to identify macroeconomic determinants influencing the creditworthiness of house-holds and their loan servicing capacity. The specific aims are, first, to present the differences in NPLs, debt servicing costs, and the structure of loan portfolios in the selected EU countries. Second, to identify countries with high-quality portfolios and those undertaking restructuring. Thirdly, to examine the determinants of NPL for household loans based on the example of Poland, i.e., a country considered representative in terms of the average level of NPL and the portfolio structure in the group of countries studied. This chapter presents the changes of NPLs, debt service ratio, and household loans in selected EU countries in 2009-2021. Moreover, an NPLs econometric model for Poland is constructed, which considers the main factors determining the creditworthiness of households, i.e., macroeconomic factors, financial standing, and debt servicing costs. Tools such as the VECM model, the variance decomposition and the impulse response functions are used. The results for Poland confirm that the NPLs ratio for households was the strongest explanation of previous changes in own NPL, consumption and real wages in the household sector in 2009-2021.
Gamified Recruitment - A Way to Win the Talent of Tomorrow?
(Wydawnictwa AGH, 2022) Martensen, Hannah; Martensen, Malte; Asanger, Johannes
Organizations are faced with increased competition in the war for talent, and their sustained competitive advantage may depend on the ability to attract suitable candidates. The gamification of HR recruitment processes can be one solution, as it creates employer brand awareness and enables candidates to better assess their fit with the organizational culture and job requirements. Based on a comprehensive literature review and through focus groups and qualitative content analysis, we develop guidelines for effective application design and implementation. Our findings are mirrored against UTAUT 2 theory and consolidated in a Model for Acceptance of Gamified Recruitment Elements. Results suggest that gamified recruitment is an effective option to support traditional recruitment processes in orienting candidates and companies about the individual employer fit, ultimately increasing the quality of applications and strengthening organizations' talent pools. From the results, we derive guidelines on how to effectively implement design features.
How to define macroeconomic announcement surprises? An example of the impact of US macroeconomic news on stock prices on the Warsaw Stock Exchange
(Wydawnictwa AGH, 2022) Wójtowicz, Tomasz
The definition of a news surprise plays a crucial role in the analysis of the impact of unexpected macroeconomic news announcements. In this paper, we study the properties of the most commonly used measure of news surprise, defined as the difference between the announced and expected value of the indicator. Due to the high vulnerability of this measure to outliers, we consider alternative definitions of macroeconomic surprises. Based on the analysis of announcements of 15 American macroeconomic indicators, we show that taking into account the heterogeneity of analysts' forecasts or the variability of the previous surprises, noticeably improves the properties of the distribution of surprise measures. An additional study performed with the use of a dynamic model proves a strong linear relationship between surprise measures and WIG20 returns in the first five minutes after news announcements.