European Journal of Business Science and Technology, 2020 (vol. 6), issue 1

NASA Funding in Congress: Money Matters

Martin Machay, Alan Steinberg

European Journal of Business Science and Technology 2020, 6(1):5-20 | DOI: 10.11118/ejobsat.2020.005  

This paper argues that individual members of Congress engage in economic opportunism, voting in the best interests of their constituents based on economic heuristics, when considering space policy legislation. Multivariable logit analysis is conducted on five votes in the House of Representatives to test the hypotheses. The economic opportunism effect is captured in the models by the presence of NASA Centers, relative importance of space industry and NASA procurements. Findings suggest that economic benefits to a member’s constituency can play an important role in legislative voting, particularly when legislation deals with federal aerospace...

The “Three-D-Relationship”: Do Democracy and Development Lead to Increased Debt?

Petr Blížkovský, Luboš Střelec, Kateřina Blížkovská

European Journal of Business Science and Technology 2020, 6(1):21-36 | DOI: 10.11118/ejobsat.2020.003  

The paper aims to test the research hypothesis of whether more democratic and economically developed countries tend to have higher public debts (the “Three-D-Relationship”) or not. The hypothesis was tested on a panel of 91 countries over the period from 2012 to 2016 using a two way analysis of variance where debt was the dependent variable and regime type and income levels were factors. The results only partially confirmed the hypothesis. Higher democratic standards did correlate with higher debt levels. Similarly, higher income levels also correlated with bigger debt burden. Both “democracy” and “development” combined...

Corporate Governance and Risk Bundling: Evidence from Indian Companies

Pankaj Kumar Gupta, Prabhat Mittal

European Journal of Business Science and Technology 2020, 6(1):37-52 | DOI: 10.11118/ejobsat.2020.004  

Corporate Governance has acquired a significant place in the national economies globally. Quality of governance impacts the business confidence index and resource mobilizations in the global marketplace. In various countries there is a conventional dominance of promoters or majority shareholders on the board of companies which implicates various propensities of risks and forms of risk cultures, making the problem of governance typical and critical for the regulators. Our paper examines the risk behaviour of firms in context of CG practices and creates distinct bundles of companies with specific risk cultures. Using a sample of 10 years’...

An Empirical Analysis of the Currency Hedging Behavior of North German SMEs

Jan Christoph Neumann

European Journal of Business Science and Technology 2020, 6(1):53-65 | DOI: 10.11118/ejobsat.2020.002  

In a globalized world, companies are able to sell their products or services abroad or purchase them abroad. This generates advantages due to the expansion of the business area creating a broader market but comes along with currency risks. This paper examines which factors influence German SMEs’ willingness to conduct foreign business, respectively to do transactions in foreign currencies. An empirical study researches how the currency risk in North German SMEs is valued and assessed. The analysis further identifies the differences in the use of foreign currencies of rural and urban SMEs and examines the reasons for the use of foreign currencies...

Shareholder Structure and Dividend Policy in the Developed Markets of Asia-Pacific

Patrick Arndt

European Journal of Business Science and Technology 2020, 6(1):66-81 | DOI: 10.11118/ejobsat.2020.001  

The objective of this study is to examine the relationship between the shareholder structure and dividend policy of an entire region – the developed markets in the Asia-Pacific region. The results show that at least three shareholder groups influence the dividend policy of companies. The group of investment advisors favours higher dividend payments. However, the greatest likelihood to receive extraordinary dividend payments is with shares of companies with a high stake of government investors. Further, the group of minority shareholders show a negative influence, which might be affected by the low interest-rate period and hence the lack...