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Kiemelkedő publikációk

Information leakage in the football transfer market

Authors:

Diána Ivett Fűrész, Gábor Rappai

Scope:

• The research investigates the impact of information leakage about players’ transfer on the stock price of football clubs

Contribution, novelty:

• In the vast majority of cases, the stock reacted to the announcement; moreover, in two-thirds of the transactions, information leakage was also established
• Most of the transfers affect share prices even before the announcement because the small shareholders of football clubs are, presumably, emotional investors, rather than rational ones

Practical relevance:

• This study provides some managerial implications for football club owners, managers, and regulators

Reference:

European Sport Management Quarterly, DOI: 10.1080/16184742.2020.1797847, 2020

Click here to read the original publication:

https://www.tandfonline.com/doi/abs/10.1080/16184742.2020.1797847

Competencies and success measured by net income among Hungarian HE graduates.

Authors:

Gabriella Kuráth, Norbert Sipos

Scope:

• The purpose of this paper is to show the effects of the six competence areas of Garcia-Aracil and Van der Velden (2007) on new graduates' labor market success measured by salary.

Contribution, novelty:

• The analyzed results show that the six competence sets do exist, but that not all of them have a significant effect on salaries
• This paper contributes to understanding better the connection between competencies and labor market success.

Practical relevance:

• Based on the results, more soft-competence development courses and opportunities should be offered by the HEIs.

Reference:

Education + Training 63(3) p. 417-439, 2020

Click here to read the original publication:

https://www.emerald.com/insight/content/doi/10.1108/ET-01-2020-0015/full/html

Do economic shocks spread randomly?

A topological study of the global contagion network

Authors:

Tamás Sebestyén, Iloskics Zita

Scope:

• This study draws a map of economic contagion across countries
• This map is tested whether contagion links show up randomly or they exhibit some predictable structure

Contribution, novelty:

• While business cycle synchronization is widely studied, this is the first attempt to provide a topological description of cross-country economic contagion
• Significant non-random topology is found, there is a persistent contagion path in 16% of all possible connections.

Practical relevance:

• Non-random topology reveals systematic patterns in shock-transmission which may help predicting possible contagion paths in future economic turmoils.

Reference:

PloS One, 15(9), e0238626, 2020

Click here to read the original publication:

https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0238626

Optimizing entrepreneurial development processes for smart specialization in the European Union

Authors:

László Szerb, Raquel Ortega-Argilés, Zoltan J. Acs, Éva Komlósi

Scope:

• This paper demonstrates how the Regional Entrepreneurship and Development Index (REDI) can be used to optimize local entrepreneurial discovery processes, in a manner which can support smart specialization strategies (S3)

Contribution, novelty:

• While S3 industry prioritization is based on the identification of local strengths, regional improvement can be achieved by improving the weakest features of the local entrepreneurial ecosystem

Practical relevance:

• Without optimizing the entrepreneurial ecosystem, the industry prioritization alone may not be successful because of the inability of the ecosystem to be able to nurture high growth potential ventures

Reference:

Papers in Regional Science, 99(5) p. 1413-1457, 2020

Click here to read the original publication:

https://rsaiconnect.onlinelibrary.wiley.com/doi/full/10.1111/pirs.12536

Economic impact modelling of smart specialization policy

Which industries should prioritization target?

Authors:

Attila Varga, Norbert Szabó, Tamás Sebestyén

Scope:

• The Geographic Macro and Regional (GMR)-Hungary policy impact model is exctended with additional features to make this model applicable for economic impact analysis of smart specialization policies

Contribution, novelty:

• In the illustrative policy simulations, authors applied the two-dimensional framework suggested by Foray (2015) for prioritization: spillover potential and economic significance
• Simulations with the GMR model is shown to be useful in supporting the prioritization process, as it is able to capture economic impacts of changes in soft dimensions behind regional productivity

Practical relevance:

• With policy simulations, the paper illustrates how the application of this model helps policy-makers in the prioritization process of S3

Reference:

Papers in Regional Science, 99(5) p. 1367–1388, 2020

Click here to read the original publication:

https://rsaiconnect.onlinelibrary.wiley.com/doi/abs/10.1111/pirs.12529

Beneficiaries and cost bearers: evidence on political clientelism from Hungary

Authors:

Tamás Vasvári

Scope:

• This study analyzes political clientelism and the softness of budget constraint for local governments from the persepctive of both local and central decision-makers

Contribution, novelty:

• The author conduct an analysis regarding the Hungarian local government system between 2006 and 2018 to capture the political patterns in local fiscal policy and central granting policy
• The fiscal discipline was lower at aligned local governments
• Local governments in opposition were underfinanced
• Favoured municipalities enjoyed more funds and could deliver more projects to their citizens
• The unaligned local governments struggled to establish a fair distribution of the burdens between beneficiary generations

Practical relevance:

• The study emphasizes that fair distribution of burdens is key to exploit the benefits of fiscal decentralization.
• The study provides information to policy-makers about the nature of budget constraint for local governments
• Policy-makers may get insight about the importance of raising own revenues and the role of central grants in municipal financing.

Reference:

Local Government Studies, DOI: 10.1080/03003930.2020.1768852

Click here to read the original publication:

https://www.tandfonline.com/doi/abs/10.1080/03003930.2020.1768852

University-Centred Entrepreneurial Ecosystems in Resource Constrained Contexts.

Authors:

Zsolt Bedő, Katalin Erdős, Luke Pittaway

Scope:

•  The paper suggests a conceptual framework outlying the structure, components and mechanisms that enable universities to operate as catalysts in the creation of entrepreneurial ecosystems.

Contribution, novelty:

• The presence of a university in resource constrained locations should enhance the prospects of progress but the nature of the university itself would impact any outcomes
• Universities that make concerted efforts to be entrepreneurial and that have entrepreneurship programs have strategies available to them that can enhance entrepreneurship ecosystems over time

Practical relevance:

• The contribution of this paper is to show “how” a university and its entrepreneurship programme can operationally address deficits in a local ecosystem and how it might bring about positive change
• The paper also opens new avenues for entrepreneurship education researchers

Reference:

Journal of Small Business and Enterprise Development, 27(7) p. 1149-1166, 2020

Click here to read the original publication:

https://www.emerald.com/insight/content/doi/10.1108/JSBED-02-2020-0060/full/html