A piaci normák sérülése, üzleti döntések és a vállalati hatékonyság (Violation of market norms, business decisions and firms’ efficiency)

Az üzleti vállalkozások környezetére vonatkozó előfeltevések és ezek érvényesülése keretet szab az üzleti döntésekhez és hat a teljesítményre. A cikkben (a feltételezett, illetve elvárt) piaci normák sérülésének hatékonysági következményeit vizsgálja a szerző. Kiindulásként értelmezi a vállalati hatékonyság fogalmát és külső befolyásoló tényezőit. Ezt követően rendszerezi a nem normasértő üzleti döntéshozók lehetséges válaszait a piaci szereplők (versenytársak, üzleti partnerek) normasértéseire, kitérve arra is, hogy ez milyen hatást gyakorol a hatékonyságra. _______ The decisions and the performance of business corporations are not independent of their environment. The assumed norms provide a framework for the business decisions and the existing norms affect the firms’ performance. The article focuses on the efficiency consequences of the violation of the market norms. It presents the concept of corporate efficiency and its influencing factors. Then the decision makers’ possible answers to the violation of norms are investigated and the efficiency consequences are analyzed.

The Case for Reforming Euro Area Entry Criteria

The global economic and financial crisis has raised further concerns about the euro-entry criteria, in addition to other factors, such as the effective tightening of the criteria due to the enlargement of the EU from 12 to 27 members, the highly unfavourable property of business cycle dependence, the internal inconsistency of the criteria due to the structural price level convergence of Central and Eastern European countries, and the continuous violation of the criteria by euro-area members. The interest rate criterion became a highly volatile measure. Many US metropolitan areas would fail to qualify to be members of the US monetary union by applying the currently used inflation criterion to the US. It is time to reform the criteria and to strengthen their economic rationale within the legal framework of the EU treaty. A good solution would be to relate all criteria to the average of the euro area and simultaneously to extend the compliance period from the currently considered one year to a longer period.

Environmental ethics for business sustainability

The paper derives operational principles from environmental ethics for business organizations in order to achieve sustainability. Business affects the natural environment at different levels. Individual biological creatures are affected by business via hunting, fishing, agriculture, animal testing, etc. Natural ecosystems are affected by business via mining, regulating rivers, building, polluting the air, water and land, etc. The Earth as a whole is affected by business via exterminating species, contributing to climate change, etc. Business has a natural, non-reciprocal responsibility toward natural beings affected by its functioning. At the level of individual biological creatures, awareness-based ethics is adequate for business. It implies that business should assure natural life conditions and painless existence for animals and other sentient beings. From this point of view a business activity system can be considered acceptable only if its aggregate impact on animal welfare is non-negative. At the level of natural ecosystems, ecosystem ethics is relevant for business. It implies that business should use natural ecosystems in a proper way, that is, not damaging the health of the ecosystem during use. From this point of view a business activity system can be considered acceptable only if its aggregate impact on ecosystem health is non-negative. At the level of the Earth as a whole, Gaian ethics applies to business. Its implication is that business should not contribute to the violation of the systemic patterns and global mechanisms of the Earth. From this point of view a business activity system can be considered acceptable only if its aggregate impact on the living planet is non-negative. Satisfying the above principles can assure business sustainability in an ethically meaningful way. In this case business performs its duty: not to harm nature or allow others to come to harm.

Fogalmak, módszerek. Páros összehasonlításokon alapuló rangsorolási módszerek (Ranking methods based on paired comparisons)

A páronként összehasonlított alternatívák rangsorolásának problémája egyaránt felmerül a szavazáselmélet, a statisztika, a tudománymetria, a pszichológia és a sport területén. A nemzetközi szakirodalom alapján részletesen áttekintjük a megoldási lehetőségeket, bemutatjuk a gyakorlati alkalmazások során fellépő kérdések kezelésének, a valós adatoknak megfelelő matematikai környezet felépítésének módjait. Kiemelten tárgyaljuk a páros összehasonlítási mátrix megadását, az egyes pontozási eljárásokat és azok kapcsolatát. A tanulmány elméleti szempontból vizsgálja a Perron-Frobenius tételen alapuló invariáns, fair bets, PageRank, valamint az irányított gráfok csúcsainak rangsorolásra javasolt internal slackening és pozíciós erő módszereket. A közülük történő választáshoz az axiomatikus megközelítést ajánljuk, ennek keretében bemutatjuk az invariáns és a fair bets eljárások karakterizációját, és kitérünk a módszerek vitatható tulajdonságaira. _____ The ranking of the alternatives or selecting the best one are fundamental issues of social choice theory, statistics, psychology and sport. Different solution concepts, and various mathematical models of applications are reviewed based on the international literature. We are focusing on the de¯nition of paired comparison matrix, on main scoring procedures and their relation. The paper gives a theoretical analysis of the invariant, fair bets and PageRank methods, which are founded on Perron-Frobenius theorem, as well as the internal slackening and positional power procedures used for ranking the nodes of a directed graph. An axiomatic approach is proposed for the choice of an appropriate method. Besides some known characterizations for the invariant and fair bets methods, we also discuss the violation of some properties, meaning their main weakness.