Scientific Annals of Economics and Business 2024-03-20T00:00:00+00:00 prof. dr. Ovidiu Stoica, Editor-in-Chief Open Journal Systems <p> </p> <p><strong><a href="" target="_self"><span style="float: right; font-size: 20px; color: #600; border-bottom: 1px dotted #660000; animation: blinker 1s linear infinite;">Online Submission</span></a></strong></p> <p>On behalf of the editorial board of the<span class="apple-converted-space"> </span><em><strong>Scientific Annals of Economics and Business</strong></em>, we are pleased to inform you that <strong>we are continuously accepting manuscripts for the next issues</strong>.</p> <p>The Journal, founded in 1954, is <strong>published four times a year (</strong>in <strong>March, June, September</strong><strong>, and December)</strong><em>,</em> under the sponsorship of the Alexandru Ioan Cuza University of Iasi, the oldest higher education institution in Romania, a place of excellence and innovation in education and research established in 1860. Until 2015 the journal was published under the name <em>Analele ştiinţifice ale Universităţii "Al.I. Cuza" din Iaşi. Ştiinţe economice</em>.</p> <p class="Default"><strong>The journal is indexed by Clarivate Analytics (formerly Thomson Reuters) </strong><strong>Web of Science Core Collection – <a href=";Full=*SCIENTIFIC%20ANNALS%20OF%20ECONOMICS%20AND%20BUSINESS">Emerging Sources Citation Index</a>, </strong><strong><a href="">Scopus</a>, <a href="">EBSCO</a> and <a href="">EconLit</a> </strong>(The American Economic Association’s electronic bibliography), is fully available at the Research Papers in Economics (RePEc), Directory of Open Access Journals (<a href="">DOAJ</a>), <a href="">ERIH PLUS</a>, Central and Eastern European Online Library (<a href="">CEEOL</a>), and Scirus. In addition, the Journal is included in <a href="">Cabell's Directories</a>, Index Copernicus, Online Catalogue of the ZBW - German National Library of Economics (ECONIS), International Consortium for Advancement of Academic Publication (ICAAP), Electronic Journals Library, The Knowledge Base Social Sciences in Eastern Europe, Scientific Commons, The ZDB, Intute: Social Science (SOSIG - Social Science Information Gateway), New Jour, GESIS SocioGuide, Genamics Journalseek, Catalogo Italiano dei Periodici (ACNP), Google Scholar, and ResearchGate.</p> <p>Authors are invited to submit manuscripts to be reviewed for possible publication in the Journal. It publishes articles in all areas of economics, business and related disciplines. The paper must be an original unpublished work written in English (British or American) that is not currently under review by other journals.</p> <p><strong>There are no submission or publication costs for authors.</strong></p> <p>Manuscripts should follow the format <a href="">style</a> of the journal. The papers should not exceed 30 pages including figures and references, and an author is only allowed to publish one paper per issue. Detailed background information on the submission of papers and review process can be found in the <a href=""><em>Submission section</em></a>.</p> <p class="Default">The manuscripts are to be submitted electronically, via Journal’s <a href="">website</a>, which offers a fully <strong>online manuscript submission and tracking system</strong>. Following submission, the author(s) track and check the latest status of the article quite easily by the help of the system.</p> <p class="Default">Submitted manuscripts will receive an initial screening from the editorial board before entering the double-blind review process. The Journal maintains a rapid electronic submission, review and publication process. On average, the double-blind review process (from submission to first editor decision) takes around 12 weeks and from acceptance to appearance online around 2-4 weeks.</p> <p>Accepted papers will be available on the journal website soon after acceptance, in a special section, <em><a href="">Early Bird</a></em>. This “advance access” system enables us to publish papers online well ahead of their appearance in the printed journal. It also allows authors to obtain citations earlier, due to the use of 'Digital Object Identifier' (DOI).</p> <p><strong>Type of publication</strong>: scientific/academic; <strong><em>open access</em></strong>, <em><strong>peer-reviewed</strong></em> journal.</p> <p><strong>Publication frequency: </strong>four issues per year (March, June, September, and December)</p> <p><strong>Language</strong>: English</p> Cryptocurrency Returns Over a Decade: Breaks, Trend Breaks and Outliers 2023-12-06T09:49:03+00:00 Suleiman Dahir Mohamed Mohd Tahir Ismail Majid Khan Bin Majahar Ali <p>This study finds breaks, trend breaks, and outliers in the last decade returns of five cryptocurrencies Bitcoin, Ethereum, Litecoin, Tether USD, and Ripple that experienced frequent changes. The study uses the indicator saturation (IS) approach to simultaneously identify breaks, trend breaks, and outliers in these returns to gain a deeper understanding in their dynamics. The study found that monthly, weekly and daily breaks existed in these returns as well as trend breaks, and outliers mostly during the market peaks in 2017, 2018, 2020, and 2021 that can be attributed to a number of things, such as the global Covid-19 pandemic in 2020, the 2021 crypto crackdown in China, the 2020 price halving of Bitcoin, and the 2017–2018 initial coin offering (ICO) boom. These returns also have common break segments and outliers. The application of IS technique to cryptocurrencies and simultaneous detection of market breaks, trend breaks, and outliers makes this study unique. This study is limited to considering only returns of five digital coins. These results may help traders, investors, and financial analysts modify their tactics and risk-management techniques to deal with the complexity of the cryptocurrency market.</p> 2023-12-18T00:00:00+00:00 Copyright (c) 2023 Suleiman Dahir Mohamed, Mohd Tahir Ismail, MAJID KHAN BIN MAJAHAR ALI Sovereign Credit Default Swap Market Volatility in BRICS Countries Before and During the COVID-19 Pandemic 2024-01-07T20:40:55+00:00 Letife Özdemir Simon Grima Ercan Özen Ramona Rupeika-Apoga Inna Romanova <p>SCDS (Sovereign Credit Default Swaps) are becoming more widely used as a country risk indicator after 2008 and stand out for providing real-time information rather than periodic reporting. The COVID-19 pandemic has led to economic disruptions and a decline in international trade. Understanding how the Pandemic affects SCDS return volatility in emerging economies like BRICS forms the motivation for our research. With this study, we aim to determine the impact of the COVID-19 Pandemic on SCDS return volatility in Brazil, Russia, India, China and South Africa, known as the BRICS countries. We used the Exponential Generalized Autoregressive Conditional Heteroskedasticity (EGARCH) model to analyze the data, which consisted of the daily closing price data for SCDS. The date of the first COVID-19 case in each country has been taken as the beginning of the COVID-19 Pandemic in each country. The results of the estimated GARCH models show that the volatility processes of the SCDS return series differ between periods. EGARCH model results indicate that shocks created by news in these countries during the Pandemic have a small and persistent effect on Brazil and Russia's SCDS return volatility, while they have a large and enduring effect on China and South Africa's SCDS return volatility. The findings will guide policymakers and portfolio managers in determining risk management models.</p> 2024-03-12T00:00:00+00:00 Copyright (c) 2023 Letife Özdemir, Simon Grima, Ercan Özen, Ramona Rupeika-Apoga, Inna Romanova Flexicurity in the EU28 Countries: A Multiyear Composite Indicator Proposal 2023-10-17T07:32:22+00:00 Marina Ferent-Pipas <p>This study computes a flexicurity index for the EU28 countries for 2001-2019 following the European Commission’s four components of flexicurity model. The index allows the ex-post assessment of flexicurity efforts and efficiency. Following the computation of the index, we compare its values against the theoretical flexicurity typologies and against other empirical flexicurity groupings to assess their (dis)similarities. Even though Northern and Western countries generally have higher flexicurity scores than Southern and Eastern states, the study shows some countries deviate from their theoretical performance. Thus, some of the Continental and Mediterranean countries have flexicurity values like those of the Nordic group. Moreover, the flexicurity regimes are not static as the theoretical typology suggests: while Denmark and France are always in the top performers’ group, other countries change their performance throughout the 2001-2019 period. The flexicurity index correlates highly with empirical country groupings in the literature. The highest correlation is with country groupings using the European Commission’s four components of flexicurity model, followed by the Golden Danish Triangle, and lastly, the Wilthagen and Tros’ flexicurity matrix. In the end, we compare EU countries’ performance in the flexicurity index scores with their performance in selected employment and unemployment rates, labor productivity, and poverty rates. Results suggest that higher flexicurity performance correlates generally with better labor market and social outcomes, the highest correlations being in the case of labor productivity rates.</p> 2024-03-08T00:00:00+00:00 Copyright (c) 2023 Marina Ferent-Pipas DEA-Based Malmquist Productivity Indexes for Assessing Greek Tourism Regions 2023-11-28T09:36:12+00:00 Athanasia Mavrommati Fotios Chatzitheodoridis Alexandra Pliakoura apliakoura@upatras.g Achilleas Kontogeorgos <p>For this research project, a DEA-based Malmquist index model was built to evaluate the effectiveness and productivity of Greece's thirteen distinct tourist zones. The purpose of this article is to present a statistical analysis comparing the economic performance of different tourist locations in Greece. It does this by using a technique known as data envelopment analysis (DEA), which measures the Malmquist efficiency of the tourist sector in each of Greece's thirteen regions for the years 2017-2021. According to the findings of our study, the level of competitiveness enjoyed by a number of Greece's areas has not increased throughout the period under review. Our study approach and results give a reference for places in Greece that urgently need quick tourist growth to affect economic recovery. This need arises against the background of global climate change, the energy crisis, and the age that follows COVID-19.</p> 2023-12-18T00:00:00+00:00 Copyright (c) 2023 Athanasia Mavrommati, Fotios Chatzitheodoridis, Alexandra Pliakoura, Achilleas Kontogeorgos Evaluating Cognitive Factors of Attitude Formation: The Impact of the Consumer’s Level of Education on the Formation of Attitudes Towards Health Behaviour 2023-12-07T05:38:23+00:00 Edita Kondrotienė Arvydas Petras Bakanauskas Edita Jezukevičienė <p>The article reviews the impact of cognitive factors on the formation of consumer attitudes towards health behaviour. Following a short overview of the cognitive component (level) of attitude formation and its factors, as well as a theoretical model of the formation of attitudes towards health behaviour, the results of the empirical study are presented to measure the impact of the consumer’s level of education on the formation of consumer attitudes towards health behaviour. The evaluation of the results provides some insights, conclusions and directions for future research.</p> 2024-03-12T00:00:00+00:00 Copyright (c) 2023 Edita Kondrotienė, Arvydas Petras Bakanauskas, Edita Jezukevičienė How can Retailers Help Consumers to Recycle? Exploratory Views on the Romanian Market 2023-11-19T06:17:17+00:00 Brindusa Mariana Bejan Ciprian Marcel Pop Gabriela Nicoleta Sirbu <p>In recent years, sustainability has become a concept brought more and more frequently to the attention of consumers. European directives and legislation in force regulate the sustainable behavior of retailers, mentioning the changes they must include in the company's vision, respectively the facilities they must implement to encourage consumers to recycle. Starting from these considerations, the article focuses on the importance of the 3 R's – Reuse, Recycle, Reduce and how these concepts are implemented in consumer behavior. From a practical perspective, the research analyzes the sustainable behavior of Generation Z, starting from the premise that this cohort shows a greater interest in protecting the environment. The results of the research provide information regarding the interest in the recycling process undertaken by young people, as well as aspects related to the motivations underlying this action or the places where it takes place. Thus, we will be able to observe whether the workplace, college, or reference group exerts a greater influence on recycling behavior. At the same time, the article aims to identify the measures that retailers adopt to encourage consumers to recycle. The research results allow the identification of solutions that can be adopted by retailers to optimize the recycling process.</p> 2023-12-14T00:00:00+00:00 Copyright (c) 2023 Brindusa Mariana Bejan, Ciprian Marcel Pop, Gabriela Nicoleta Sirbu Exchange Rate Changes and Trade Flows in East Asia 2023-12-17T09:07:14+00:00 Jerome Terhemba Andohol Victor Ushahemba Ijirshar Oluwafemi David Ogunjemilua Solomon Gbaka <p>This study investigates the impact of exchange rate changes on trade flows among East Asian countries spanning 1990–2021, using pooled mean group estimator, within the framework of panel data analysis. Findings indicate that world income, trade openness, and the real effective exchange rate strongly affect trade balance, and that the real depreciation of exchange rate exerts strong positive benefits on trade flows in the long run. The study also infers that trade openness and real effective exchange rate had strong influence on exports and imports for Hong Kong, Japan, and South Korea in the short run. However, the depreciation of their currencies discouraged imports in the long run. More so, world income strongly affects the exports and imports of Hong Kong and Japan, while trade openness is advantageous for all the countries. The study recommends the continuation of the prevailing trade-growth pattern, and the existing bilateral pegged exchange rate policy with their trading partners.</p> 2024-03-05T00:00:00+00:00 Copyright (c) 2023 Jerome Terhemba Andohol, Victor Ushahemba Ijirshar, Oluwafemi David Ogunjemilua, Solomon Gbaka