Identification of the factors influencing the profitability of the Hungarian beer industry

Beer consumption and beer industry is an important beverage sector in Hungary because the beer is the most consumed alcoholic beverage in the country according to WHO studies. During history, breweries developed in different size and different values. The Hungarian beer industry can be divided into three groups of breweries: old large scale breweries, old microbreweries and new wave microbreweries. In this paper, we examine the factors influencing the economic performance of the Hungarian beer industry based on panel data of all active Hungarian breweries in 2018 (121 breweries), for the period of 2009-2017. The study applied panel-data linear models by using feasible generalized least squares with error structure with no cross-sectional correlation option.  The economic performance is measured by companies’ turnover, EBIT and profit, which were used as dependent variables. The following explanatory variables were applied in the model: age of brewery (number of closed business years), Social Media activity (FB likes of company page), geographical location (distance from Budapest in km), direct sales (represent own pub/direct sales channel), impact of tax reduction (small beer companies pay 50% less tax since 2012). Regression results have shown a number of determinants of the economic performance of Hungarian breweries, and the estimations are valid for all profitability indicators included (turnover, EBIT and profit). As in previous research, we have come to the conclusion that if the company survives the early years of operation, we can expect profitable activity. Since the ratio of early bankruptcy among Hungarian brewers is still very high, the fluctuation between smaller breweries strongly determines the industry.The benefits of short food supply chains (both physical distance and number of intermediaries) are also prevalent in the beer industry. Breweries with direct sales channels (mostly their own pubs) showed significantly higher sales, EBIT and profits compared to those selling their products by third parties. Breweries situated in Budapest are the most profitable, because the capital city provides a higher demand for high-quality beer, in contrast, the distance from the capital city has a negative impact on the firm’s success.The Social Media activity, often used as the only promotion channel for the microbreweries, has a positive impact on the brewery’s profitability. Finally, tax reduction for small breweries introduced in 2012 by the Hungarian government had the most important positive impact on industrial profitability, especially in the case of microbreweries. It seems the government aim to support small scale beer production has been successful because it helped the survival of the Hungarian microbreweries

Identification of the factors influencing the profitability of the Hungarian beer industry

Beer consumption and beer industry is an important beverage sector in Hungary because the beer is the most consumed alcoholic beverage in the country according to WHO studies. During history, breweries developed in different size and different values. The Hungarian beer industry can be divided into three groups of breweries: old large scale breweries, old microbreweries and new wave microbreweries. In this paper, we examine the factors influencing the economic performance of the Hungarian beer industry based on panel data of all active Hungarian breweries in 2018 (121 breweries), for the period of 2009-2017. The study applied panel-data linear models by using feasible generalized least squares with error structure with no cross-sectional correlation option. The economic performance is measured by companies’ turnover, EBIT and profit, which were used as dependent variables. The following explanatory variables were applied in the model: age of brewery (number of closed business years), Social Media activity (FB likes of company page), geographical location (distance from Budapest in km), direct sales (represent own pub/direct sales channel), impact of tax reduction (small beer companies pay 50% less tax since 2012). Regression results have shown a number of determinants of the economic performance of Hungarian breweries, and the estimations are valid for all profitability indicators included (turnover, EBIT and profit). As in previous research, we have come to the conclusion that if the company survives the early years of operation, we can expect profitable activity. Since the ratio of early bankruptcy among Hungarian brewers is still very high, the fluctuation between smaller breweries strongly determines the industry.The benefits of short food supply chains (both physical distance and number of intermediaries) are also prevalent in the beer industry. Breweries with direct sales channels (mostly their own pubs) showed significantly higher sales, EBIT and profits compared to those selling their products by third parties. Breweries situated in Budapest are the most profitable, because the capital city provides a higher demand for high-quality beer, in contrast, the distance from the capital city has a negative impact on the firm’s success.The Social Media activity, often used as the only promotion channel for the microbreweries, has a positive impact on the brewery’s profitability. Finally, tax reduction for small breweries introduced in 2012 by the Hungarian government had the most important positive impact on industrial profitability, especially in the case of microbreweries. It seems the government aim to support small scale beer production has been successful because it helped the survival of the Hungarian microbreweries

What Are the Reasons Behind the Economic Performance of the Hungarian Beer Industry?

In terms of absolute alcohol consumption and total quantity consumed, beer is the most consumed alcoholic beverage in Hungary. The Hungarian beer industry is highly concentrated, the three largest, foreign‐owned companies ruled the market for almost 90% of total turnover in 2009– 2017. The study investigates the factors influencing the Hungarian beer industry’s economic perfor‐ mance, special attention given to the microbreweries. The analysis applied panel‐data linear models for the period of 2009–2017. The financial performance of breweries is represented by companies’ turnover, Earnings Before Interest and Taxes (EBIT) and profit along with explanatory variables of the age of brewery, Social Media activity, geographical location, direct sales, and impact of tax re‐ duction. Breweries with direct sales channels reached significantly higher sales, EBIT and profit. Breweries situated in or close to the capital are the most profitable due to the higher demand for high‐quality beer, in contrast, the distance from the capital had a negative impact on the firms’ per‐ formance. The Social Media activity–often used as the only promotion channel for the microbrew‐ ery–positively impacts the brewery’s profitability. Finally, tax reduction for small breweries intro‐ duced in 2012 had the most significant positive influence on the industry

Élő labdarúgó-közvetítések gépi feliratozása

Fontos cél, hogy egyre több televíziós műsor legyen akadálymentesen hozzáférhető siket- és nagyothalló nézők számára is. Az élő labdarúgó-mérkőzések kiemelten nagy népszerűségnek örvendenek, így feliratozásuk sok ember életét könnyíti meg. A jelenleg alkalmazott kézi feliratozásnál azonban sok információ elveszik a kommentárból. Erre nyújthat megoldást a gépi feliratozás, mely képes lépést tartani az élő beszéd tempójával. Technikai szempontból azonban problémát jelent az idegennyelvű személynevek felismerése, melyek gyakoriak a labdarúgó-közvetítésekben, így nagyban befolyásolják a feliratozás minőségét. Cikkünkben különböző szótárbővítési eljárások hatékonyságát vetjük össze. Ezen módszerek előnye, hogy segítségükkel egy már betanított felismerő modell szótárát a kívánt feladathoz lehet adaptálni. Bemutatunk környezetfüggetlen és környezetfüggő megoldásokat is a labdarúgó-mérkőzéseken elforduló személynevek felismerésére. Kísérleteink során azt találtuk, hogy az egyszerűbb, környezetfüggetlen szótárbővítés jó választás lehet, ha nem várjuk el a feliratozó rendszertől, hogy az esetragokat is felismerje. Amennyiben pontos ragozással szeretnénk visszaadni a személyneveket, szükség lehet a komplex, környezetfüggő modellezésre