Current issues of the regional forestry planning on the example of the Sverdlovsk region (Russian Federation)

The publication addresses the problematic issues of the regional forestry planning. The object of research is the forest sector of the Sverdlovsk region. The subject of research is the mechanism of regional forestry planning. The purpose of the work is to describe the current mechanism of regional forest planning and make individual proposals to improve its functioning. One decade of experience in applying the first forestry plans of the subjects of the Russian Federation have shown their failure. The new forestry plans, developed in the subjects of the Russian Federation using a unified methodology for the period from 2018 to 2029, do not inspire optimism either. The main reasons for the failure of forestry plans are the lack of a scientific concept and the usage of a forest management approach in their development. The conclusions are drawn on a number of organizational and methodological problems associated with the development and implementation of the existing regional forestry planning mechanism, as well as on the need to develop an up-to-date scientifically proven methodological basis for planning in the forest sector at the regional level. © 2020 Published under licence by IOP Publishing Ltd

Testing the Relation between Beta and Returns in the Athens Stock Exchange,

Abstract The main objective of the current study is the examination of the relationship between beta and returns in the Athens Stock Exchange, taking into account the difference between positive and negative market excess returns' yields. The investigation period is between 1991 and 2002 and the focus on the risk-return trade-off by examining separately the up-market and down-market months. The study tries to verify whether beta is an important measure of risk and if an inverse relationship holds between beta and returns when the return on the market is negative. It also investigates whether there is any symmetry between up and down market returns in the ASE. The estimation of return and beta without differentiating positive and negative market excess returns produces a flat unconditional relationship between return and beta. Using the conditional CAPM and cross-sectional regression analysis, the evidence in this paper tends to support the significant positive relationship in up market and a significant negative relationship in down market. (JEL G12)

The Cross-Section of Expected Stock Returns: An Empirica Study in the Athens Stock Exchange.

ABSTRACT This paper explores the ability of the capital asset pricing model, as well as the firm specific factors, to explain the cross-sectional relationship between average stock returns and risk in Athens Stock Exchange (ASE). The objective of this study is to investigate the crosssection of stock returns in the Greek stock market for the period from July 1993 to June 2001. A methodology similar to that of Fama and French (1992) is employed, by taking into account the constraints imposed by a smaller sample both in time and in terms of number of stocks. Our findings indicate that in the Greek stock market there is not a positive relation between risk, measured by β, and average returns. On the other hand, there is a "size effect" on the cross-sectional variation in average stock returns. Regarding, the "book-to-market effect" we found that when this variable is the only variable in explaining average returns there is a strong positive relation between average returns and book-to-market ratio. But when other explanatory variables were added in the cross-sectional regressions the "book-to-market effect" diminishes a lot

Management Control Systems and Strategy: A Resource based Perspective. Evidence from Greece

Purpose: The purpose of this paper is to empirically examine from the resource-based perspective, the relationship between the use of management control systems (MCS) and organisational capabilities in the Greek context. Design/Methodology/Approach: The study follows Henri's (2006) methodology and explores the relationships between the diagnostic and interactive uses of performance measurement systems (PMS) and the five capabilities (e.g. market orientation, organisational learning, entrepreneurship, innovativeness and market responsiveness) leading to strategic choice. Structural equation modelling represents the relationships between the variables and data collected from the survey, which was analysed as a statistical tool with AMOS. Findings: Results revealed that diagnostic use of PMS negatively influence only the organisational learning, while the interactive use positively interacts with most of the capabilities. Research limitations/implications: This study can be further extended by incorporating more factors in the proposed model, such as environmental uncertainty, size and organisational culture, and examine their possible effect on the relationship between PMS uses, organisational capabilities and performance. Originality/Value: There is no similar empirical research in the context of Greece

A Theoretical Framework Contrasting the Resource-Based Perspective and the Knowledge-Based View

The purpose of this paper is to explore the relationship between the two most important perspectives of the firm, the RBV and the KBV, by examining the relative impact of firm-specific assets and knowledge capabilities on the firm’s competitive advantage. A composite model is proposed which elaborates upon both perspectives causal logic with respect to the conditions relevant for the firm success.resource-based view, knowledge-based view, knowledge management

The relationship between the use of strategic human capital, the design of the Management Control System and organisational performance: an empirical study in the Greek context

This study examines, within the context of Greece, the relationship between the four attributes (importance, behavioural uncertainty, firm specificity and spread) of Strategic Human Capital (SHC), the design/use of Management Control Systems (MCSs) and organisational performance. It utilises both Transaction Cost Economics (TCS) and contingency theory to develop the theoretical background of the study, since both analyse the function of management control. This study extends the model of Widener (2004) a step further by incorporating organisational performance. It supports the proposed model of Widener, by verifying the positive influence of the four components of SHC to the personnel controls and non-traditional results controls and their negative influence on the use of traditional results controls.SHC; strategic human capital; MCS; management control systems; organisational performance; SEM; structural equation modelling; Greece; transaction cost economics; TCS; contingency theory; emerging economies.