DOES BUSINESS GEOGRAPHICAL ACTING AREAS IMPACT ON INTRAPRENEURSHIP AND SUSTAINABILITY STRATEGIES?

Nelson DUARTE

School of Management and Technology, Polytechnic of Porto, CIICESI, Portugal

nduarte@estg.ipp.pt

Francisco DINIZ

CETRAD, Vila Real, Portugal

fdiniz@utad.pt

Abstract

The present paper aims to analyze the positive or negative impact of local integrated firms on strategies of intrapreneurship and sustainability. The study was developed in the region of Tâmega e Sousa, located in the north of Portugal. For that 283 firms from manufacturing and construction industries were analyzed. By local integrated firm were considered those firms that are doing all their business activities within the region where they are established. Most of firms (83.2%) in this region present very good results in the adoption of sustainable strategies, while 80.9% present a weak adoption of intrapreneurship strategies. Crossing variables on local integration and sustainability it was found a light tendency in favor of local firms, i.e., local firms apparently are more concerned with the regional sustainable development, than those that are acting outside the region borders. On what regards the relation between local integration and the adoption of intrapreneurship strategies, those firms that are doing business beyond the region are adopting more intrapreneurship strategies.

Keywords: Local Business, Intrapreneurship, Sustainability

JEL classification: L2, O1, R1

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EFFECTS OF LEISURE ACTIVITIES ON HAPPINESS IN THE CASE OF JAPAN

Kenichi SHIMAMOTO

KS Sustainability Research, Japan

ken_japan51@hotmail.com

Abstract

With the increase interest in adopting a form of happiness to policy goals, a wide range of studies on subjective well-being (SWB) have become available. Leisure is a key component of our daily life which can affect SWB. Leisure activities is said to reduce stress and promote health. It can be a social activity that provides a sense of belonging or the time can be used for self-development. There is a wide range of leisure activities such as sports, hobbies, volunteer participation and socializing. This paper examines the underlying characteristics of leisure activities by conducting a principal component analysis across leisure related variables by using cross section data for 47 prefectures in Japan. The main results find that regions with greater active/external type tend to have higher levels of SWB, and regions with greater self-development type tend to have lower levels of SWB.

Keywords: Subjective well-being, leisure, Japan

JEL classification: I31, Z00

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COMPARING THE FORECASTS OF THE DEMAND FOR MONEY IN MALAYSIA WITH THE INCLUSION OF FINANCIAL INNOVATION USING DIFFERENT ESTIMATION METHODS

Payam MOHAMMAD ALIHA

Ph.D candidate, Universiti Kebangsaan Malaysia (UKM), Malaysia

payammaliha@gmail.com

Tamat SARMIDI

Associate Professor Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia

tamat@ukm.edu.my

Fathin FAIZAH SAID

Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia

fatin@ukm.edu.my

Abstract

In this paper, we compare the forecasting performance of multivariate models (ARDL/VECM/DOLS/FMOLS) versus univariate models (ARIMA/ETS) for the purpose of forecasting the real demand for money in Malaysia using monthly data during 2010Q1-2018Q4. This study overcomes the issue of misspecification by incorporating financial innovation in the money demand function using separate measures of payment instruments (credit card, charge card, debit card, e-money), payment channels (Real Time Electronics Transfer of Funds and Securities or RENTAS, Interbank GIRO, Financial Process Exchange or FPX and direct debit) and payment channels (Automated Teller Machines or ATM, mobile banking) to capture the effect of financial innovations. The multivariate models which are categorized into structural models (relying on a structural relationship between money demand and other variables) are also cointegration based models meaning that variables have long-run associationship and move together in the long-run while non-structural (non-cointegration) based techniques (ARIMA and ETS model) do not rely on such a structural relationship. We conclude that structural models are better for longer term forecasting. Non-structural models (notably ARIMA) have better forecasting performance for short term horizons such as one year than they do for long term horizons. However, our findings indicate that even for short term horizons, structural models do better than non-structural models but the gap between forecasting accuracy for these two kinds of models is much narrower in the short term horizon compared to long term horizon. The results also indicate that FMOLS has the most predictive power among cointegration/structural/multivariate based models for both short (12-months) and long-time (60-months) horizons. In the context of this model (FMOLS), financial innovation have positive yet small impact on money demand in Malaysia. Finally, we do out-of-sample forecast using FMOLS.

Keywords: Malaysia, Money Demand, Financial Innovations, Multivariate, Univariate, Cointegration

JEL classification: E41, E42, E52
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