European Journal of Management Issues

127-134

Authors: Benenson, O.

Purpose – To establish the features of the manifestation of the socio-economic cyclical pattern "The cycle of presidential elections" in the US stock market in modern conditions and to develop recommendations for the practical application of this pattern in investment activities. Design/Method/Approach of the research. The research was carried out by statistical processing of data on the values of the Dow Jones Industrial Average for the period from 1887 to 2020. Findings. the research has shown that the regularities in terms of the average increase of the Dow Jones index in different years of the Presidential election cycle in the modern economy are differ from the ones that existed before 1993. At present, only one year can have the practical interest - the year before the US presidential elections, when the average growth of the index is 2-4 times higher than the growth in other years of the cycle. The previously known thesis that the US stock market grows faster under the ruling Democratic Party is also confirmed in the modern economy. Nevertheless, every year the difference between market gains for different years is smoothed out. Within the “Presidential Election Cycle”, there is a consistent pattern that the Dow Jones Index grows from its minimum value in the “interim” year to the maximum value of the next, pre-election year. At the same time, in recent decades, the value of the percentage increase has a tendency to decrease, and if earlier, from 1914 to 2011 its average value was 47-48.6%, then in the period from 1993 to 2020 the percentage of growth decreased to 36.7%. Practical implications. The practical application of the research results will make it possible to improve the accuracy of forecasting the prevailing trends in the international stock markets and, accordingly, to increase the efficiency of investments. Originality/Value. This research expands knowledge about the peculiarities of manifestation and use of the cyclical pattern of the "Presidential Election Cycle", offers an updated model of its use in predicting the prevailing trend in the US stock market. The results of the study may be of interest to specialists working in the field of investment in international financial markets. Research limitations/Future Research. The research results provide a basis for conducting similar research for European and Asian financial markets, as well as identifying and researching other cyclical patterns in international financial markets in order to develop applied investment mechanisms that increase the efficiency of investment. Paper type – empirical.

143-150

Authors: Kesy, M., & Pawliszczy, D.

Purpose – to demonstrate the links between social exclusion and the higher costs of treating customers depending on this social sector, unlike other customers who are neither unemployed nor live in poverty. Design/Method/Approach of the research. In the external study, a survey method was used, supplemented with a method of observation at the study site. The authors of the publication carried out research using the qualitative method, formalized interview with medical staff. This research was done in University Hospital in Wroclaw in 2018. Findings. Any health organization must create good relations inside the organization and mostly from outside. One of them is a patient that the author calls a "customer" as every person spends money on health organization leading to the proper hospital functioning. Decision-makers within the system continuously must make choices and seek alternative ways to measure illness costs. One of the factors that harm the optimization of the health services' scale is the social exclusion phenomenon, which is significantly affecting society. Socially isolated people's problems are deprivation, as a lack of access to the necessary level of high-quality, safe, and effective medical services, and cultural competence to provide such medical services. The ex-post analysis conclusions show that relationships between the analyzed areas and the social exclusion phenomenon have a medium and even large dependency and demonstrate cause-effect relationships. Management of customers with the disfunction of medical personnel social requires using other means of communication and building relationships on facts. The communication model between medical personnel and the customer should be founded on a moderate paternalistic model, which is based on facts and documents. The result will be a reduction in service time, which will affect consultation time, financial savings, and an increase in medical personnel efficiency. Originality/Value. In the research of socially isolated people's health problems, three aspects was distinguished: health problems caused by social isolation, health problems that cause social exclusion, and health conditions that are difficult to treat due to social isolation. Paper type – empirical.

162-169

Authors: Man, F.

Purpose – to analyze the situation of age discrimination at work and to give some reflections from job ads in the case of Turkey. Design/Method/Approach of the research. This study presents a limited depiction of age discrimination occurring in Turkey by analyzing job ads. Findings. One of the most critical demographic issues for the entire world, especially for the advanced world, is aging. It is essential as it necessitates some critical regulations that have economic and social consequences. During this aging trend, job seekers over a certain age in labor markets face age discrimination. Although many countries, both developed and developing, have some legal regulations against age discrimination, it remains a crucial form of discrimination. Where we can easily see this kind of discrimination is job ads. This study examined more than fifteen hundred job ads posted by İŞKUR, state-affiliated Employment Agency of Turkey, for the cities of Marmara Region of Turkey were examined. Nearly 20% of all job ads is indicating some statement for age limit. Research limitations/Future Research. Although just the age value indicated by employers in the ads itself does not mean an absolute age discrimination rate, 20 % is a vital implication for that kind of discrimination, and also, this figure implies the need for detailed further studies. Paper type – empirical.

72-80

Authors: Bieloborodova, M., & Bessonova, S.

Purpose – to identify trends in Ukraine's tourism enterprises' external environment to increase their competitiveness and stability in the relevant industry market. Design/Method/Approach of the research. Theoretical generalization, method of abstraction, expert assessments, PEST-analysis, factor analysis, graphical method. Findings. The research studies the changes in the external environment of tourist enterprises during the pandemic crisis. The critical factors of such enterprises' external environment are revealed based on considering their importance and the influence direction on the competitiveness of tourist business units. The paper covers the most significant negative and positive trends of changes in Ukraine's tourist enterprises' external environment. The authors provided recommendations for strategic planning of tourist business units' competitiveness. Practical implications. The research results allow identifying areas for increasing the competitiveness of national tourism enterprises and effectively adapting to the external environment's transformations during the crisis in the globalized social and economic space. Originality/Value. Based on the expert assessment, the authors proposed an expanded factors list of the external environment of national tourism enterprises, which, in contrast to the existing ones, consider the crisis's negative consequences. PEST-analysis clusters of environmental factors allowed to identify a significant positive or negative impact on the competitiveness of tourism enterprises. Research limitations/Future research. The research results provide a basis for further study of the external macro- and micro-environment of tourism enterprises at the local, regional, and national levels. And for element-by-element SWOT-analysis of tourism enterprises during the pandemic crisis. Paper type – theoretical.

92-100

Authors: Liutak, O. M., & Baula, O. V.

Purpose – to assess the tourism industry development and its impact on Ukraine’s economy, to identify a set of problems hindering the significant development of the tourism industry, and to justify ways to increase competitiveness in the world market. Design/Method/Approach of the research. System approach, synthesis, analysis and comparison to assess the tourism development dynamics in Ukraine, correlation and regression analysis to determine the impact level of increasing the number of hotels and tourist-recreational enterprises on GDP growth in Ukraine, logical generalization to identify a set of problems holding back the significant development of local tourism and ways justification of increasing its competitiveness on the world market. Findings. This article presents the results of assessing the tourism dynamics, particularly the tourist flows, the number of resorts, the number of tourists served by tour operators and travel agents. The authors substantiated the ways of increasing the local tourism sector's competitiveness. Practical implications. The work results can make the basis for the development of fundamental and scientific-applied provisions contributing to the significant system formation of increasing the competitiveness of Ukraine's tourism industry by state and local authorities, establishing cooperation among market participants and forming optimal logistics flows, developing business models to optimize the flows of health and recreational facilities. Originality/Value. The research value is that its applied scientific provisions can be implemented in the strategy of economic development of local tourism in analytical and mathematical justifications of the relationship between economic growth and tourism development, which ultimately increases Ukraine regions’ competitiveness for sustainable development of the country’s economy. Research limitations/Future research. Future research should focus on identifying mechanisms to improve the procedure for increasing tourism enterprises' competitiveness and improving provided service quality. Paper type –empirical.

110-120

Authors: Slyvenko, V., & Slyvenko, O.

Purpose – to analyze the models of overcoming the crisis of the tourism business in Germany. Design/Method/Approach of the research. The research method is an expert opinion analysis on possible scenarios for the Covid-19/Coronavirus pandemic crisis development, the consequences for German tourism, and possible models of overcoming the crisis. Findings. The paper analyzes the models of overcoming the crisis in Germany's tourism business during the gradual attenuation of the Covid-19/ Coronavirus pandemic and the beginning of the national borders lento opening. That allowed us to formulate an assumption of possible scenarios while crisis overcoming in the tourism business in Germany. Theoretical and practical implications. The analysis of possible scenarios while overcoming the crisis in the tourism business in Germany phenomena in Germany's tourism industry can be very interesting both for practitioners and for theorists studying the problems of tourism development worldwide. Originality/Value. The article investigates the regional differences of the tourism crisis developed during the Covid-19/ Coronavirus pandemic. Based on a logical analysis of the models for overcoming the tourism business crisis in Germany, the paper analyzed factors that can affect changes in consumer habits and include vital economic aspects of the tourism business restoration. This paper expands researchers’ capabilities in the crisis phenomena analysis in the tourism business and assists in the most accurate and reasonable forecasting for the long-term sustainable development and competitive advantages of tourism enterprises. Paper type – theoretical.

3-12

Authors: Ilmi, Z., Wijaya, A., Kasuma, J., & Darma, D. C

Purpose – to explore a crowdsourcing data-driven approach to construct crowd knowledge databases for innovation through supporting creative idea generation. In this approach, social media will be used as platforms to crowdsource knowledge for producing the databases. Findings. Creativity is an essential element of innovation, but producing creative ideas is often challenging in design. Many computational tools have become available recently to support designers in producing creative ideas that are new to individuals. As a standard feature, most of the tools rely on the databases employed, such as ConceptNet and the US Patent Database. This study highlighted that the limitations of these databases have constrained the capabilities of the tools and, thereby, new computational databases supporting the generation of new ideas to a crowd or even history are needed. Crowdsourcing outsources tasks conventionally performed in-house to a crowd and uses external knowledge to solve problems and democratize innovation. Social media is often employed in crowdsourcing for a crowd to create and share knowledge. Originality/Value. This paper proposes a novel approach employing social media to crowdsource knowledge from a crowd for constructing crowd knowledge databases. Practical implications. The crowd knowledge database is expected to be used by the current computational tools to support designers producing highly creative ideas that are new to the crowd, in new product design, and ultimately to innovation. Research limitations/Future research. In this study to provide insights and potential directions for future research are discussed that challenges of employing described approach. Paper type – theoretical.

25-33

Authors: Krasnikova, N. O., Dzyad, O. V., Mihaylenko, O. G., & Hrechyn, K. O.

Purpose – To assess the integration and management of the formation and implementation of the competitive advantages of the Visegrad Four countries in the European market of information, computer, telecommunication (ICT) services based on their analysis in the individual market segments. Design/Method/Research approach - this study aims to determine the presence and nature of the competitive advantages of countries in the European ICT services market based on the calculation of export specialization indicators, to establish factors for their growth and effective implementation based on the results of structural, regressive, comparative analysis and synthesis. Findings. It has been suggested that the introduction of the European rules for market organization stimulated the building-up in the Visegrad Four countries of their competitive advantages in the European ICT services market through innovative investment resources, effective management of private, public sector, and international investors and personnel. Practical implications. The accession of Eastern European countries to the European digital market and digital space requires a generalization of the experience of the Visegrad Four countries and the identification of factors, directions, and priorities of the national policy for the development of the ICT sector. Originality/Value. The scientific novelty of the study - based on the calculation of the comparative advantage index, different integration and effectiveness of managing the competitive advantages of the Visegrad Four countries, primarily the sphere of IC services to the European market (relatively high - in the Czech Republic due to state financing, moderate – in Poland due to financial support from the state, in Slovakia due to private investment in R&D, low – in Hungary), this situation requires a balanced innovation and investment strategy of the countries in the future, the training of a sufficient number of qualified IT specialists, stimulation of private investment in R&D and business cooperation with the sphere of knowledge by means of tax and administrative incentives, facilitating the transition of small and medium-sized businesses on the principles of economics 4.0. Paper type – empirical.

41-51

Authors: Omondi, P. P., Ndegwa, J. W., & Okech, T. C.

Purpose – tо study sought to delve into social capital and commercial banks' internationalization in Kenya drawing on the internationalization concept. Design/Method/Approach. The research adopted a positivist philosophical approach and used a descriptive cross-sectional research design targeting top and middle-level managers in Kenya's commercial banks. Data was collected using a structured questionnaire and analyzed using SPSS version 22.0 for both descriptive and inferential statistics. Structural Equation Modelling was used to establish the influence of social capital on commercial banks' internationalization in Kenya. Findings. The findings established a significant and positive relationship between the components of social capital: inter-cultural empathy, inter- personal impact and diplomacy, and commercial banks' internationalization. Practical implications. The results have significant consequences: Firstly, social capital has a positive and statistically significant relationship with commercial banks' internationalization. Secondly, all dimensions of social capital affect the acquisition of foreign market knowledge and financial resources. Thirdly, the use of individuals' social capital often changes during internationalization. Originality/Value. The study's novelty demonstrates the interaction of commercial banks' managers in Kenya on the application of social capital as an internationalization orientation process. Research Limitations/Future Research. The research contributes to the advancement of location theory. It opens avenues for future research to establish what extent social capital is beneficial to banks that have ventured into international markets. Paper type – empirical.