Are the Determinants of Markup Size Industry-Specific? The Case of Slovenian Manufacturing Firms

The aim of this paper is to identify factors that affect the pricing policy in Slovenian manufacturing firms in terms of the markup size and, most of all, to explicitly account for the possibility of differences in pricing procedures among manufacturing industries. Accordingly, the analysis of the dynamic panel is carried out on an industry-by-industry basis, allowing the coefficients on the markup determinants to vary across industries. We find that the oligopoly theory of markup determination for the most part holds for the manufacturing sector as a whole, although large variability in markup determinants exists across industries within the Slovenian manufacturing. Our main conclusion is that each industry should be investigated separately in detail in order to assess the precise role of markup factors in the markup-determination process.Industry, Manufacturing, Markup determinants, Slovenia

Are the determinants of markup size industry-specific? The case of Slovenian manufacturing firms

The aim of this paper is to identify factors that affect the pricing policy in Slovenian manufacturing firms in terms of the markup size and, most of all, to explicitly account for the possibility of differences in pricing procedures among manufacturing industries. Accordingly, the analysis of the dynamic panel is carried out on an industry-by-industry basis, allowing the coefficients on the markup determinants to vary across industries. We find that the oligopoly theory of markup determination for the most part holds for the manufacturing sector as a whole, although large variability in markup determinants exists across industries within the Slovenian manufacturing. Our main conclusion is that each industry should be investigated separately in detail in order to assess the precise role of markup factors in the markup-determination process

Eksploatacija radne snage i nejednaka razmjena rada kao temeljni uzroci nejednakosti država eurozone

The cornerstone of this research is the development of a model which investigates the origins of economic inequality as a derivative of labour force exploitation. The starting point of this inquiry is the theory of unequal labour exchange. The concept being empirically analysed is that the phenomenon of unequal labour exchange between Eurozone countries, arising from exploitation on a national level, plays a key role in creating inequality. The findings indicate that the differences between the capital-labour force ratio and disequilibrium prices enhanced by various levels of economic efficiencies, explain the differences in exploitation rates and arising cross-country inequality.Kamen temeljac ovoga rada predstavlja razvoj modela koji istražuje izvore ekonomskih nejednakosti kao derivata iskorištavanja radne snage. Polazište istrage temelji se na teoriji nejednake razmjene rada. Koncept, koji se empirijski analizira koristeći se članicama eurozone, jest taj da je fenomen nejednake razmjene rada između zemalja, kao posljedica iskorištavanja na nacionalnoj razini, ključni faktor kreiranja nejednakosti. Rezultati pokazuju da devijacije u omjeru kapital – radna snaga te neuravnotežene cijene povećane raznim razinama ekonomskih učinkovitosti između zemalja objašnjavaju razlike u stopama eksploatacije i nejednakost između zemalja

Labour Force Exploitation and Unequal Labour Exchange as the Root Cause of the Eurozone's Inequality

The cornerstone of this research is the development of a model which investigates the origins of economic inequality as a derivative of labour force exploitation. The starting point of this inquiry is the theory of unequal labour exchange. The concept being empirically analysed is that the phenomenon of unequal labour exchange between Eurozone countries, arising from exploitation on a national level, plays a key role in creating inequality. The findings indicate that the differences between the capital-labour force ratio and disequilibrium prices enhanced by various levels of economic efficiencies, explain the differences in exploitation rates and arising cross-country inequality.The cornerstone of this research is the development of a model which investigates the origins of economic inequality as a derivative of labour force exploitation. The starting point of this inquiry is the theory of unequal labour exchange. The concept being empirically analysed is that the phenomenon of unequal labour exchange between Eurozone countries, arising from exploitation on a national level, plays a key role in creating inequality. The findings indicate that the differences between the capital-labour force ratio and disequilibrium prices enhanced by various levels of economic efficiencies, explain the differences in exploitation rates and arising cross-country inequality

Labour Force Exploitation and Unequal Labour Exchange as the Root Cause of the Eurozone's Inequality

The cornerstone of this research is the development of a model which investigates the origins of economic inequality as a derivative of labour force exploitation. The starting point of this inquiry is the theory of unequal labour exchange. The concept being empirically analysed is that the phenomenon of unequal labour exchange between Eurozone countries, arising from exploitation on a national level, plays a key role in creating inequality. The findings indicate that the differences between the capital-labour force ratio and disequilibrium prices enhanced by various levels of economic efficiencies, explain the differences in exploitation rates and arising cross-country inequality.The cornerstone of this research is the development of a model which investigates the origins of economic inequality as a derivative of labour force exploitation. The starting point of this inquiry is the theory of unequal labour exchange. The concept being empirically analysed is that the phenomenon of unequal labour exchange between Eurozone countries, arising from exploitation on a national level, plays a key role in creating inequality. The findings indicate that the differences between the capital-labour force ratio and disequilibrium prices enhanced by various levels of economic efficiencies, explain the differences in exploitation rates and arising cross-country inequality

Reforma i tranzicijska prilagodba sustava zdravstvene skrbi u Sloveniji

In the paper the authors analyse some unresolved issues regarding the health care reform that is under way in the Republic of Slovenia. They believe the reform is necessary due to the problems that have accumulated. So far the transition processes have not been undertaken in a systematic way by the public sector. With this in mind, the authors discuss the problems of compulsory and voluntary insurance, and the goals that can be achieved by enforcing the role of voluntary health insurance. The authors also examine areas that have important implications for the efficiency of Slovenian health care. Emphasis is primarily given to appropriate systems of incentives that affect the behaviour of health care providers, patients, insurers, and policy makers and then, to the management and governance of health care providers.U ovom radu autori analiziraju određena neriješena pitanja glede reforme zdravstvene skrbi koja se provodi u Sloveniji. Mišljenja su da je reforma nužna zbog problema koji su se nakupili jer, dosada, javni sektor nije sustavno provodio tranzicijske procese. Uzimajući to u obzir autori raspravljaju o problemima obvezatnog i dobrovoljnog osiguranja i ciljevima koji se mogu postići provođenjem dobrovoljnog zdravstvenog osiguranja. Autori također razmatraju područja koja imaju značajan utjecaj na učinkovitost slovenskog zdravstva. Naglasak se najprije stavlja na odgovarajuće sustave poticaja koji utječu na ponašanje pružatelja zdravstvene skrbi, pacijenata i osiguravatelja, a potom i na upravljanje pružatelja zdravstvene skrbi

Austerity policies, economic growth and fiscal balance: lessons from Slovenia

The authors investigate the impact of austerity policies by empirically analysing the crowding out effect, the Ricardian equivalence principle, and the effect of domestic competitiveness on economic growth in Slovenia. Using the narrative method, the authors researched determinants of economic growth and the impact of fiscal policies on the empirical relationship between state debt and economic growth. The authors show that Slovenia has executed austerity measures over short time periods only, and argue that one cannot find convincing evidence that the enacted austerity policy created the theoretically and empirically expected effects. The authors show that the revival of economic growth was independent of enacted austerity policies. Such economic growth has also benefitted the general budget balance and fiscal position of Slovenia

Razlike između zdravstvenih sustava i jedinstveno europsko tržište zdravstvenih usluga

The following paper analyses the possibilities of forming a single European health care market. This aim is achieved by studying the impact of the differing organisational features of individual European health care systems on the efficiency of health care provision, by examining the relationship between the inputs used to produce health care services and the population’s health status in the analysed countries and by exploring the link between the quantity of health care services and the health status. The authors hypothesise that the efficiency and organisation of health care systems determine the possibilities of forming an efficient single European health care market. The empirical methodology employed in this paper is data envelopment analysis (DEA). The results show that differences between health care systems and in the ownership types of health care providers are not so large as to prevent the formation of a single European health care market. However, the formation of a single European health care market would reveal the characteristics of health care systems in such a way that citizens would be in favour of the public sector in health care and the national health service model.U ovome radu istražuju se mogućnosti formiranja jedinstvenog europskog tržišta zdravstvenih usluga. Taj cilj ostvaruje se kroz analizu efikasnosti različitih europskih zdravstvenih sustava u odnosu na zdravstveno stanje populacije i inputa u produkciju zdravstvenih usluga te u odnosu na zdravstveno stanje populacije i opsega zdravstvenih usluga. Autori rada pretpostavljaju da mogućnost formiranja efikasnog jedinstvenog europskog tržišta zdravstvenih usluga zavisi od efikasnosti organizacije zdravstvenih sustava u Europi. U ovome radu autori koriste DEA metodologiju empiričkog istraživanja. Rezultati istraživanja pokazuju da razlike između zdravstvenih sustava i tipa vlasništva zdravstvenih institucija nisu tako velike da bi onemogućile formiranje jedinstvenog europskog tržišta zdravstvenih usluga. Unatoč tome, formiranje jedinstvenog europskog tržišta zdravstvenih usluga moralo bi pokazati kako je u prednosti stanovništvo onih europskih država, u kojima prevladavaju javne zdravstvene institucije i proračunsko financirano zdravstvo

Performance ratios for managerial decision‐making in a growing firm

This paper investigates the impact of firms’ growth rate on various financial and non‐financial performance ratios. The study tests the hypothesis that variations in growth rates across firms relate to differences in the values of ratios of profitability, liquidity, current assets, and solvency, as well as the break‐even point, revenue per employee, average costs, labour costs, capital costs, capacity utilization, productivity and efficiency. In order to estimate the impact of growth on financial and non‐financial indicators while also accounting for unobservable individual effects of each firm, the study assesses several two‐way fixed effect panel models with regression analysis. Authors show that knowing the impact of growth rates on financial and non‐financial ratios gives managers of growing firms additional relevant information for making business decisions. First Publish Online: 09 Jun 201

Firm growth types and key macroeconomic aggregates through the economic cycle

The paper investigates the role and impact of different groups of firms according to their growth type on macroeconomic aggregates at various stages of the economic cycle based on the entire population of firms in Slovenia. The applied classification of growing and fast-growing firms is based on microeconomic theory. Results exhibit that despite larger year-to-year fluctuations, firms with growth towards their long-term equilibrium contributed most to macroeconomic aggregates, i.e. employment, capital and sales, especially in times of economic prosperity. Firms with growth that shifts them closer to their short-term equilibrium proved to be more important primarily for assuring employment stability. Furthermore, we show that using single growth measures prevents us from identifying all growing firms and capturing the true contribution of particular growth groups of firms to studied macroeconomic aggregates. The paper provides both theoretical and empirical information for managers for designing different types of firm growth and enables policy makers to adopt adequate industrial policy measures