Month: December 2023

AN EMPIRICAL STUDY ON FAMILY BUSINESS FINANCING

Brikena LEKA

Associate Professor, University of Tirana

brikenaleka@feut.edu.al

Etleva BAJRAMI

Associate Professor, University of Tirana

etlevabajrami@feut.edu.al

Gentiana SHARKU

Professor, University of Tirana

gentianasharku@feut.edu.al

Abstract

Family business in Albania, as well as in the other countries, is the oldest dominant form of business. Usually for the small businesses which are part of this study these businesses are managed by family members, and some of family members are engaged in this business. These businesses started to recover in Albania, after the 1990 with the overthrow of communism regime. Although during this system the word “private property” almost completely disappeared from the vocabulary, again its traces remained in the focus of the family business (FB). This study is based on primary data, collected through questionnaires for family businesses. A total of 327 questionnaires are considered, covering micro and small family businesses. The questionnaires are completed by directly interviewing the individual who runs their business. The data are elaborated in SPSS, since the data were mainly of a qualitative nature. The study consists of two statistical analyses. First, Chi- square tests are performed to analyze the significance of the relationship and Second, a regression equation was performed to analyze the main factors that determine the way these businesses are financed. This study finds that the owners with high level of education are more prone to use external source of financing, the “older” businesses will finance the greater part of their activity by their own funds, and as the turnover of the previous year increases, a major part of the profit will be reinvested in the business for short-term and long-term investment.

Keywords: family business, financing, lifetime, education, turnover

JEL classification: D14, G51, M13

 pp. 81-91

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THE COMPLEX RELATIONSHIP BETWEEN AIR TRANSPORT INFRASTRUCTURE AND REGIONAL DEVELOPMENT. AN EMPIRICAL INQUIRY

Daniela- Luminița CONSTANTIN

Professor at the Department of Administration and Public Management, The Bucharest University of Economic Studies; Bucharest; Romania

danielaconstantin_2005@yahoo.com

Ana-Maria MARCU

Reseαrcher, Administration and Public Management, Faculty of Administration and Public Management, The Bucharest University of Economic Studies; Bucharest; Romania

marcuana19@stud.ase.ro

Abstract

Nowadays the development of the air transport infrastructure is acknowledged as an important driver of regional development, while the economic development processes impact the demand and volume of air transport as well. This paper investigates the complex relationship between air transport infrastructure and regional development proposing an empirical analysis for the case of Romania, whose relevance is supported by her unprecedented dynamism in the general European framework at the same time with the tendency of reducing regional disparities, the balanced geographical distribution of the airport network, and the country’s geo-strategical position in the new international force field. By applying an in-depth analysis which combines the examination of strategic documents with the interpretation of statistical data and semi-structured interviews, relevant findings are provided with regard to the significance of air transport infrastructure in a context described by diversity of regional development levels, accompanied by insights into the policy-making framework, with emphasis on the requirements to be met for proper responses to the need to reinforce the air transport sector and to integrate the national vision with the specific regional development aspects.

Keywords: air transport infrastructure, regional disparities, place-based approaches, resilience, integration

JEL classification: R11, R19, R42, R58

 pp. 61-80

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MEASUREMENT APPROACHES OF REGIONAL ECONOMIC RESILIENCE: A LITERATURE REVIEW

George J. XANTHOS

Hellenic Mediterranean University, Crete, Greece

xanthosg@hmu.gr‎

ORCID ID: 0009-0004-7250-3296

Evangelos N. DULUFAKIS

Hellenic Mediterranean University, Crete, Greece

ddk167@edu.hmu.gr

ORCID ID: 0009-0009-9258-5379

(corresponding)

Abstract

In this article, we review the different methodological approaches of measuring regional economic resilience conducting a literature review. Methodological approaches to measure resilience range from the use of descriptive, interpretative, or simple regression models to sophisticated statically econometric models.

Given these premises, the present research, provides insights of the regional and spatial economics in relation to resilience measurement and estimation methods and enriches the knowledge of the measurement methodological context and applications from diversified literature sources. Our research focuses on economically derived disturbances or shocks, such as recessions, and the resistance capacity or ability of a regional economy to respond to these shocks. The core results of this article are summed up in one main inference, that the methodological context for measuring regional economic resilience is undefined and basically empirically developed using either resilience indices or statistically based econometric models to assess the resilience of a region.

Keywords: regional economic resilience, conceptual approach, measurement context, economic disturbance, literature review

JEL classification: R11 Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

 pp. 47-59

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