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This research paper focuses on the analysis of the financial risk of Lietuvos geležinkeliai, AB (eng. Lithuanian Railways), which activities are passenger and freight transportation by rail. In order to assess the financial risk of the leading company areas of financial risk were identified and are as follows: liquidity risk, credit risk and market risk. However, due to limited access to statistics only financial report of the organisation were analysed and, hence, just liquidity and credit risk were investigated. Consequently, the limitation of the current research is that only two categories of financial risk were analysed. For the purpose of financial risk analysis, the key indicators of liquidity and credit risk were distinguished from the literature. The results showed that the biggest problem of the company is too small short-term assets and the profitability indicators, which were strongly influenced by net profit (loss).

The paper’s intention is to provide the correspondence of the globalization and the diversity in the management in this current trade era. The aim of the article is to understand the leader’s role in diversity management which is rapidly changing the global trade market more clearly. Globalization has a very big influence on the diversity management these days, both directly and indirectly. This study is based on a systematic review of 14 journal articles presented on the concerned topic. It is divided into three main parts: the paper describes benefits of diversity management, leader’s role and the challenges which leaders face while playing the role in the diverse management. In the review, it was found that “diversity” in the workplace is one of the most important factors to run the business or corporation smoothly and workplaces are truly benefitted by the management of the diversity. It works as an “aid to trade” in the performance of the workforce in the corporate culture. Next, we explained the challenges which leaders face and how to avoid those by taking initial steps. The paper ends up by providing discussions, limitations of the previous literature and some suggestions to the future researchers.

Contemporary the concept of global value system extensively elaborated by scientist and applied by practices in the fields of management, economics and politics. The aim of this article is to provide the theoretical background and evolution of the global value system methodological approach from the global strategy management perspective. The technologies are considered as the main source of added value. Therefore the main scholars of technologies strategic management are provided in the article, though in the global value system concept it is implied that the source of added value originates from the allocation of added value activities across borders. Recently scholars analyse various sources for the added value upgrading, though critics of global value chain concept emphasise that besides economic added value, social issues should be considered.

Global economic fluctuation, post-Brexit challenges, changes in the landscape of corporate social responsibility are pushing managers to build sustainability into the performance of marketing mix. Traditional marketing is no longer able to address all the issues in modern markets. This led to green marketing, a new marketing philosophy. The paper provides researchers and marketing managers with a comprehensive view of the concept of green marketing, its causes, contents, and outcomes. Authors suggest a structured and outcome-based viewpoint to the construct of green marketing. Theoretical presumptions confirm structuration of green marketing initiatives to strategic, tactical, and operational levels. It was found out that cohesive marketing activities in these levels have the crucial impact of green marketing in organizational, environmental, and social contexts. Strategic, tactical, and operational activities in the field of green marketing may lead to business development, improvement of the natural ecosystem, and increased quality of life. The findings of the research present opportunities for researchers and managers to apply green marketing orientation.

This paper provides an evidence-based evaluation of the competing ways of explaining and tackling the informal economy. Conventionally, participants have been viewed as rational economic actors who engage in the informal economy when the benefits outweigh the costs, and thus participation is deterred by increasing the sanctions and/or risks of detection. Recently, however, an alternative social actor approach has emerged viewing participation to result from a lack of vertical trust (i.e., their norms, values and beliefs are not in symmetry with the laws and regulations) and horizontal trust (i.e., they believe many others are non-compliant). Reporting 2,000 face-to-face interviews conducted in Croatia in 2015, only a weak and partial association is found between participation in the informal economy and the perceived level of penalties and risks of detection, but a strong significant association with both the level of vertical and horizontal trust. Those who perceive a larger proportion of the population to be engaged in the informal economy, and those whose norms differ to the laws and regulations, display a significantly greater likelihood of participating in the informal economy. The theoretical and policy implications are then discussed.

The principal explanations in the existing economics literature for the formation of concentrated markets are intellectual property-related entry barriers, economies of scale, and network effects. In each of these explanations, a few firms have an inherent advantage, allowing them to maintain their dominance. Our study’s objective is to show that even when all firms are equally situated, an industry can evolve from a competitive to an oligopolistic structure purely as a result of random chance. We create a stylized model where firms are identical at inception, with none having any competitive advantage. In each period, a firm’s profit is random with zero mean. The randomness of profits is hypothesized to stem from demand uncertainty and production cost fluctuations. Simulation results show that, solely as a result of chance, a competitive industry transitions to a market structure where only a handful dominate. The antitrust implications of our paper pertain to the causes of oligopoly formation. Notwithstanding that in some cases oligopolies can arise as a result of anticompetitive behavior of firms, we show that market concentration can also occur as a benign, natural consequence of evolution of an industry characterized by firms with uncertain profits.

This paper proposes the Octograph, a cube-like model of leadership and organizational performance. Eight concepts, placed on eight corners of the cube, create eight triangular models and four processes of Decision-making, Communication, Production and Innovation. The eight concepts are nested together through one-arrowed dependency lines. Saying «Leadership» depends more on «employees» than vice versa, presupposes causal explanations of the how and why of the dependency.

The digitalisation of business processes, cultural backgrounds and consequences on behavioural differences make a direct impact on customer purchase behaviours across different markets. The main aim of this paper is to analyse the effect of the economic situation in the selected countries regarding the e-commerce business. On the sample of the situation in the Czech Republic, the article presents the increasing potential of e-commerce and focuses not only on the statistics review but on the psychological aspects of online behaviour. Firstly, the paper presents a theoretical model for customer purchase behaviour and the development of the theory in correspondence with B2C e-commerce background. Secondly, this research analyses the main aspects of shopping behaviour in selected countries; the research shows the main characteristics of shopping and provides a better understanding of the impact of digitalisation. Finally, the paper confirmed the fact that the Czech e-commerce market is developed and has potential to grow nationally and internationally. The paper investigates online shopping for the period between 2010 – 2017. Finally, the authors discuss all the theoretical and practical implications of these results.

Violence against women is relevant both in the world and in Georgia. Therefore, the aim of the work is Statistical analysis of violence against women in Georgia, according to the causes, forms, revealed forms and results of violence. The methods of statistical observation, grouping and analysis were used in the research process. The graphical expression method is widely used. Apart from them, the methods of induction, deduction, analysis and synthesis, and selective observation were also used. Relative indicators of structure, dynamics, and comparison were calculated. Violence against women is a taboo topic for Georgian society and rarely becomes disclosed. Violence against women and girls in Georgia includes sexual abuse, rape, sexual harassment, early marriages, or forced marriage. The cases of violence against women are much more common in residents of Tbilisi, Samtskhe-Javakheti and Mtskheta-Mtianeti. It is relatively low in Adjara, Guria, Samegrelo and Imereti regions. Besides physical violence, there is frequent psychological violence, such as constant control of the wife, threatening, intimidation, etc. Violence indicators are different for age groups and nationalities. The survey is intended for a wide segment. In the future, it is possible to further expand the area by considering sources of financing. The results of this research will help increase public awareness and the need for women’s rights. Since 2009, research about women’s violence in Georgia has not been conducted. Therefore, the statistical data presented here is completely most recent.

This paper takes a fresh look at citation counts and publications in top-rank journals, which the academic economics profession uses to evaluate and promote its members. It first examines how and why citations are mentioned in an article, and what this implies about their counts. The discussion then examines how average citation counts to articles are used to rank journals, and the paper reviews the concerns that have been expressed about this practice. These concerns identify the large variance in citation counts among articles of the same journal, implying that those articles themselves must vary greatly in quality (Engemann and Wall 2009). To address these concerns, the paper proposes the classification of citations into three categories: Fodder Citations (for references that contribute only trivially to a paper), Relevant Citations (which substantively contribute to the paper, though the paper would remain roughly the same without them), and Essential Citations (which have a major influence). The paper argues that counts of citations by the last two categories offers greater credibility in the application of citation counts to evaluate economic literature. Finally, the paper provides an opportunity for economists to participate in a new project that solicits information on citations by these categories.

This humoristic piece pretends to offer a candidacy for the John Bates Clark Medal.

We investigate how the potential burden of processing ever more knowledge has affected the careers and research output of researchers in mathematics over the past 64 years. We construct a panel dataset of 48.851 researchers who published in ten top-ranking journals in mathematics. For this population of researchers, we supplement the dataset with years of birth from public sources. Our results show a significant increase of the average age of researchers at their first publication in one of our top-ranking journals, of the number of references of single-author articles, and of the number of coauthors that contribute to an article. Our findings extend earlier empirical findings on patents, as well as on researchers in economics, and hint at a burden of knowledge pervading different areas of human development. Moreover, our results indicate that researchers develop strategies like the division of labor to deal with this burden.