Microeconomic Factors Research Articles

Interdisciplinary Approach to Consumer Financial Behavior: Developing a Conceptual Framework

ABSTRACTThe purpose of this article is to develop a conceptual framework of consumer financial behavior with a multidisciplinary approach. Consumer financial behavior is the subject of research in many scientific disciplines, although it is of greatest interest to economists, sociologists, psychologists, and philosophers. The frailty and still insufficient functionality, as well as the lack of application of the models may result from constantly changing macro and microeconomic factors, changing trends, the impact of generational affiliation, and conceptual‐theoretical inconsistencies. Taking into consideration current attitudes toward understanding consumer financial behavior, a contribution to literature is an attempt to diagnose the components of a functional model for financial behaviors, in particular, the diagnosis of input and output factors in the decision‐making process. The proposed model of consumer financial behavior consists of five elements: type of consumer, type of financial product, motivation, abilities, and opportunities, and the factors determining them may be both economic and noneconomic.

Towards Share Price Volatility: Does Capital Structure Choices Really Matter?

The study was conducted to assess the impact of capital structure on the share price volatility in Tanzania. The study utilized quantitative secondary data spanning a ten (10) year period from 2013 to 2022, sourced from the Dar es Salaam Stock Exchange (DSE) and annual reports of six (6) chosen manufacturing companies. The data was analysed using the random effect panel regression model. Findings revealed that all independent variables (Short term, long term and total debt) have a negative statistically significant effect on share price volatility. On the basis of the study’s findings, the research suggested that, listed companies should adopt effective debt management strategy to mitigate share price volatility. Also, Capital market and security authorities (CMSA) are advised to provide regulatory guidance and enforce transparent reporting requirements for listed companies. Furthermore, Investors are encouraged to adopt a strategic investment approach, considering companies with effective debt management in their decisions. Future researches should use Autoregressive Distributed Lag (ARDL) model to capture both short- and long-term impact of capital structure changes, and include additional debt related metrics and microeconomic factors for a more nuanced understanding of share price volatility.

Impact of Socio Economic, Demographic and Psychological Factors on Risk Taking Behavior: A Case Study of Punjab

Recent studies have suggested that socioeconomic, psychological and demographic factors play an important role for risk taking behavior. These suggestions raise the question that whether all of these variables have positive or negative impact on risk taking behavior. So, this study aims to estimate the impact of these factors on risk taking behavior. Primary data is collected from 642 households of three cities in Punjab as these three cities are representative of Punjab, Pakistan. During economic decision-making, risk-taking behavior is affected by many variables. The results show that variables like Age, head of family, education level, committee system, trust and optimism have significant negative effect on risk taking behavior of households. While influence of others, financial literacy, and impulsivity, location, and stress have significant positive impact on risk taking behavior. Other variables such as gender, marital status, family system, and do not have significant effects on risk taking behavior. The results of this study may help in devising economic and social policies for the improvement of economic decision making. This study would pave ways for the policy makers as how to create strategies to grow economies by thinking and taking microeconomic factors into account like risk taking behavior.

Collaborative optimization of multi-energy multi-microgrid system: A hierarchical trust-region multi-agent reinforcement learning approach

In the context of the expanding diversity of energy demands, an increasing number of heterogeneous Multi-energy Microgrids (MEMGs) are engaging in the collaborative framework of the Multi-energy Multi-microgrid System (MEMMG). However, following this trend, the existing centralized Integrated Energy Management System (IEMS) control strategy is unreliable for future energy systems, characterized by more complex optimization control and a flexible system structure. This paper introduces a hierarchical Multi-agent Deep Reinforcement Learning (HMADRL) approach for distributed IEMS in MEMMG. Firstly, by employing a hierarchical approach, this method simplifies control complexity by segmenting the overarching control challenge into tasks of collaborative planning and action control, which are distributed across varied multi-agent scenes. Considering both macro and microeconomic factors, alongside carbon emissions, the optimal operation of MEMMG is realized through a bottom-up edge multi-agent control approach, in contrast to traditional top-down centralized methods. Secondly, in the phase of the inter-MEMG collaborative strategy, the Centralized Training Decentralized Execution (CTDE) framework is adopted to overcome the problems of unstable training environments and large-scale agent training, and each heterogeneous microgrid can develop local strategies independently with the assurance that their internal data will not be overly exposed. Thirdly, within each MEMG, the Trust-Region (TR) model is introduced for multi-agent action control, adeptly addressing the effects of mutual exclusion in decision-making time series. Simultaneously, an initialized Hot Experience Pool (HEP) is implemented, efficiently reducing exploration in complex, high-dimensional spaces. Finally, the off-time agent model is integrated into the HMADRL environment and undergoes secondary training based on real interactions, thereby deriving the optimal energy management policy. The proposed method markedly reduces reliance on exact physical modeling systems. Comparative simulations validate the proposed control scheme’s efficacy.

Effect of Micro Economic Factors on Residential Property Value in Birnin Kebbi, Kebbi State, Nigeria

The research aims to assess the microeconomic factors affecting residential property values in Birnin Kebbi. Property serves as an asset for any individual, as real estate is one of life's primary goals. Besides the need to eat and drink, property also plays a crucial role in daily life. Property values are influenced by various factors, which can be either microeconomic or macroeconomic in nature, or both. Many microeconomic variables are related to property attributes and buyer demographic profiles. To achieve this aim, two objectives were formulated: (i) to examine the types of property and microeconomic factors affecting property values in the study area, and (ii) to assess the effect of microeconomic factors on residential property values. Both primary and secondary sources of data were used for data collection. Out of 377 questionnaires administered, 321 were retrieved. Simple random sampling and stratified random sampling methods were employed. Quantitative methods were used for data analysis, and all data gathered were analysed using descriptive statistics and the Likert scale. The study found that physical characteristics of residential properties, such as types of materials used, building design, room sizes, parking spaces, building age, and landscape, significantly influence property values. Additionally, the types of finishes (roofs, walls, ceilings, and floors), infrastructural facilities, and social amenities (number of toilets, electricity fittings, waste disposal and sewage, potable water supply, and various sanitation facilities) also play a role. The effects of microeconomic variables on property values in the study area include insecurity, increased traffic, property price changes, nuisances, environmental quality, property demand, and time consumption. The study recommends that prospective property developers ensure the use of standard building finishes to maximize returns on their investment in property value. Additionally, the government should introduce policies to ease difficulties in importing housing materials and promote the manufacture of local ones.

The Influence Of Microeconomic Factors And Macroeconomic Factors On Stock Price Volatility In KOMPAS 100 Index Companies Listed On The Indonesia Stock Exchange For The Period 2019-2022

Research Aims: This study aims to determine the effect of dividend payout ratio, firm size, leverage, earning volatility, exchange rate, inflation, and interest rate on stock price volatility in KOMPAS 100 index companies listed on the Indonesia Stock Exchange for the period 2019-2022 Design/methodology/approach: The type of data used is quantitative data sourced from secondary data. The population in this study is the KOMPAS 100 index company listed on the Indonesia Stock Exchange for the 2019-2022 period. The technique used in this sampling is purposive sampling and 33 companies were obtained as samples in this study. The data was analyzed using multiple linear regression and calculated with SPSS Version 25 software. Research Findings: The results showed that earning volatility, inflation, and interest rates have a significant positive effect on stock price volatility. Meanwhile, firm size and exchange rate have a significant negative effect on stock price volatility. However, dividend policy proxied by the dividend payout ratio and leverage proxied by debt to equity ratio have no significant effect on stock price volatility. Therefore, companies included in the KOMPAS 100 index should optimize total assets to increase profitability, and also stabilize profits, cost efficiency both operational and non-operational and assess financial risk to minimize investment risk and to overcome the impact macroeconomic conditions, so that companies are able to control the level of stock price volatility. Theoretical Contribution/Originality : This study provides new insights into how the influence of microeconomic factors explained by dividend payout ratio, firm size, leverage, and earning volatility, as well as macroeconomic factors explained by exchange rate, inflation, and interest rate on stock price volatility. Keywords: Dividend payout ratio; Firm size; Leverage; Earning volatility; Exchange rate; Inflation ;Interest rate

“Revealing the future”: an ARIMA model analysis for predicting remittance inflows

PurposeThe purpose of this research is to develop a predictive model that can estimate the volume of remittances channeled toward Yemen’s economic reconstruction efforts.Design/methodology/approachThis study utilized a time-series dataset encompassing remittance inflows into Yemen’s economy from 1990 to 2022. The Box-Jenkins autoregressive integrated moving average (ARIMA) methodology was employed to forecast remittance inflows for the period 2023 to 2030.FindingsThe study’s findings indicate a downward trajectory in remittance inflows over the next eight years, with projections suggesting a potential decline to 4.122% of Yemen’s gross domestic product by the end of 2030. This significant decrease in remittance inflows highlights the immediate need for concrete steps from economic policymakers to curb the potential decline in remittance inflows and its impact on Yemen’s economic recovery efforts.Originality/valueThe impact of global remittance inflows on various macroeconomic and microeconomic factors has long been of interest to researchers, policymakers, and academics. Yemen has been embroiled in violent clashes over a decade, leading to a fragmentation of central authority and the formation of distinct local alliances. In such prolonged turmoil, foreign aid often falls short, providing only temporary relief for basic needs. Consequently, the importance of migrant remittances in sustaining communities affected by conflict and disasters has increased. Remittances have played a crucial role in fostering economic progress and improving social services for families transitioning from conflict to peace. Therefore, this study aims to estimate and forecast the volume of remittances flowing into Yemen, to assist in the nation’s economic reconstruction.

Impact of Minimum Wage, Inflation, and Economic Growth on Poverty in Yogyakarta Province

Poverty is a very complex problem caused by many factors. Poverty itself means that individuals lack the ability to fulfill the basic needs of life. Regional autonomy established by Indonesia requires regional governments to manage their respective territories. Yogyakarta Province has the highest poverty rate on the island of Java. Poverty occurs due to microeconomic factors. Minimum wages, inflation rates, and economic growth are among the macroeconomic factors that cause poverty. The aim of this research is to find out how Yogyakarta Province's minimum wage, inflation rate, and economic growth affect the province's poverty level. Panel data regression models are used in this type of quantitative research. Cross-sectional data from districts and cities in Yogyakarta Province for 2009–2023 were used in this study. Based on research findings, the poverty level of DI Yogyakarta Province is largely determined by the minimum wage and economic growth variables, while it is not influenced by the inflation variable.

Social unrest and bank liquidity creation: evidence from MENA banks

PurposeA host of studies have assessed the determinants of bank liquidity creation, highlighting the relevance of macroeconomic and microeconomic factors. However, whether and how social unrest impacts bank liquidity creation remains a moot issue. To inform this debate, this study aims to exploit bank-level data for Middle East and North Africa (MENA) countries covering the period 2010–2019 to assess the interlinkage between social unrest and bank liquidity creation.Design/methodology/approachIn view of the staggered inception of social unrest across MENA countries, the author uses a difference-in-differences specification to tease out the causal impact.FindingsThe findings reveal that the Arab Spring improves liquidity creation after onboarding after confounding factors. This impact differs across conventional and Islamic banks and differs across asset side (market) and liability side (funding) liquidity creation. The evidence also underscores the positive real effects of such liquidity creation on real economic output.Originality/valueThis is one of the early studies exploiting a large sample of MENA banks to examine this issue in a systematic manner.

Prediction of values of Borsa Istanbul Forest, Paper, and Printing Index using machine learning methods

It is difficult to predict index values or stock prices with a single financial formula. They are affected by many factors, such as political conditions, global economy, unexpected events, market anomalies, and the characteristics of the relevant companies, and many computer science techniques are being used to make more accurate predictions about them. This study aimed to predict the values of the XKAGT index by using the monthly closing values of the Borsa Istanbul (BIST) Forestry, Paper and Printing (XKAGT) index between 2002 and 2023, and the machine learning techniques artificial neural networks (ANN), random forest (RF), k-nearest neighbor (KNN), and gradient boosting machine (GBM). Furthermore, the performances of four machine learning techniques were compared. Factors affecting stock prices are generally classified as macroeconomic and microeconomic factors. As a result of examining the studies on determining the macroeconomic factors affecting the stock markets, 10 macroeconomic factors were determined as input. The macroeconomic variables used were crude oil price, exchange rate of USD/TRY, dollar index, BIST100 index, gold price, money supply (M2), S&P 500 index, US 10-year bond interest, export-import coverage rate in the forest products sector, and deposits interest rate. It was determined that all machine learning techniques used in the study performed successfully in predicting the index value, but the k-nearest neighbor algorithm showed the best performance with R2=0.996, RMSE=71.36, and a MAE of 40.8. Therefore, in line with the current variables, investors can make analyzes using any of the ANN, RF, KNN, and GBM techniques to predict the future index value, which will lead them to accurate results.

Pengaruh Indikator Kesehatan Bank, Faktor Ekstenal dan Pertumbuhan Laba terhadap Return Saham Perbankan di Bursa Efek Indonesia

This research aims to examine the influence of bank health indicators, external factors and profit growth on stock returns. Bank health indicators are reviewed based on risk profile, earnings and capital. Risk profile is measured using the non-performing loan (NPL) proxy, earnings are measured using the return on assets (ROA) and net interest margin (NIM) proxies, capital is measured using the capital adequacy ratio (CAR) proxy. The external factor in this research is inflation. measured by changes in inflation each year, the BI Rate and profit growth are measured by proxies for changes in profits each year. The object of this research is banking companies listed on the Indonesia Stock Exchange during the 2016-2020 period. The sample selection technique is the purposive sampling method, research data is secondary data obtained from annual reports and financial reports of banking companies. which has been published on the IDX website (www.idx.co.id) and the company website during the 2016 - 2020 period. The research results show that macroeconomic factors, namely interest rates, have no effect on company value, while inflation has a positive effect on company value. Microeconomic factors, namely sales growth, company size and capital structure have no effect on company value.

Investment strategy – a tool for forming sustainable competitive advantages of enterprises

Introduction. Business investment can extend beyond meeting current investment needs arising from the need to replace outdated assets and the structure of economic activity. Ensuring a stable position of enterprises on the market and long-term economic development requires appropriate investment support. This requires creating an investment management system based on scientifically balanced forecasts regarding the directions and forms that ensure the realization of the general goals of the development of enterprises and the adaptation of their activities to the conditions of the external environment. The investment strategy is an effective tool for long-term management of the enterprise's investment activities in the conditions of the realization of the goals of economic development, significant changes in macro- and micro-economic factors, the influence of state regulation on market processes, the state of the investment market and related uncertainties. This determined the choice of topic, research structure, relevance, and theoretical and practical significance. This article aims to form an investment strategy as a tool for obtaining sustainable competitive advantages for enterprises. The results. Understanding the essence of investment and its implementation mechanism in modern conditions will allow food enterprises to optimize their activities, contribute to the company's development, and increase their market competitiveness. Investments are a vital tool in the competitive struggle, as their implementation leads to lower costs, lower prices, increased profits, the emergence of new needs, attracting financial resources, and improving the manufacturer's image. Conclusions. Investments play a pivotal role in implementing innovations, be it scientific, technical, organizational, or socio-technical. These innovations are aimed at use in the operational, investment, or financial spheres of the enterprise, with the goal of generating income and influencing qualitative changes in social and economic terms. Therefore, in the modern market, and particularly in the post-war period, investment and innovation activity in Ukraine will be a key driver of economic development and a prerequisite for enhancing the competitiveness of enterprises. Keywords: investments, innovations, strategic management, influencing factors, fruit and vegetable preserves.

SOCIO-ECONOMIC ANALYSIS OF THE EFFICIENCY OF IMPLEMENTATION OF THE TOURIST AND RECREATIONAL POTENTIAL OF THE ZAKARPATTIA OBLAST IN THE FIELD OF RURAL GREEN TOURISM

The article presents the results of a study of the tourism and recreational potential of small and micro-enterprises in the sphere of rural green tourism in the Zakarpattia Oblast in the context of crisis and instability. It analyses the social factors influencing the development of this sector of the state economy, identifies problematic aspects in their activities that may negatively affect the development of tourism in general, as well as the impact of such crisis phenomena as COVID-19, its consequences and martial law. The authors have identified the factors that have a destructive impact and the factors that would contribute to overcoming the crisis. The aim of the research is to conduct a socio-economic study of the development of tourist and recreational potential of rural green tourism in the region and identify ways to unlock the potential of this sphere of the region's economy, which will be effective for their practical implementation in the activities of accommodation and catering enterprises. Methodology. The study was conducted on the basis of a survey of managers and owners of rural green tourism enterprises through a personal questionnaire, as well as an analysis of statistical indicators of the performance of temporary accommodation enterprises, based on official statistics of the Zakarpattia Oblast for 2020 and 2021 and provided by the Main Department of Statistics in the Zakarpattia Oblast. The monitoring covered private peasant farms in the region, namely 90 owners of such tourist farmsteads, of whom 70% were middle-aged (36-55 years old), 58% of them combine employment in the tourism sector with their main job in the public sector, and 6% have their own business other than the service sector. The results of the study demonstrate that the activities, development and general existence of rural green tourism in the region are affected by such destructive processes as crisis phenomena such as COVID-19, political instability, martial law and other macro- and microeconomic factors, which can be overcome or at least minimised by their impact on the tourism services sector to increase the viability of small businesses, which, as is known from international practice, is one of the elements of overall economic growth in the region and the state as a whole. According to the results of the study, the factors influencing the activities of enterprises, the behavioural patterns of owners of rural green tourism institutions in the context of the crisis were identified and mechanisms for minimising and overcoming the consequences of the crisis were developed, such as: diversification of business and expansion of the types of services that can be provided to potential consumers, introduction of an effective management and marketing system, adoption of European experience in the field of green tourism and proposals for improving the legislative framework for businesses to leave the shadow economy.

The non-linear dynamics of South Australian regional housing markets: A machine learning approach

Traditional linear models often struggle to capture regional housing markets' complex, non-linear dynamics. This study addresses this gap by developing and applying advanced machine learning algorithms to unlock unique insights into South Australian housing price behavior. Leveraging a comprehensive dataset of over 10,000 regional house sales from 2010 to 2021, we explore the non-linear relationships between housing prices and microeconomic factors (e.g., house size, land area, building quality) and socioeconomic characteristics (e.g., proximity to amenities and income levels). Our analysis employs a multi-step approach, including feature engineering, spatial data integration, correlation tests, multilevel modeling, and non-linear machine learning algorithms including Decision Tree, Random Forest, Gradient-Boosted Tree, and Artificial Neural Network. The key finding is that machine learning models outperform traditional econometric models in predicting regional housing prices, with higher accuracy and greater goodness of fit. Furthermore, we identify specific non-linear relationships, such as the increasing marginal impact of proximity to the sea on house prices as distance decreases. These findings offer valuable insights for policymakers, real estate professionals, and stakeholders, informing regional planning, infrastructure provision, and economic development strategies. This study sheds light on the complex dynamics of South Australian housing markets and lays the foundation for further research.

The “Double-Edged Sword” effect of air quality information disclosure policy—Empirical evidence based on the digital transformation of Chinese listed companies

Enterprises' digital transformation (DT) has become crucial to enhancing competitiveness and fostering economic development. However, alongside economic progress, the issue of air pollution on a global scale has garnered widespread attention from governments and the public alike. In addressing the air pollution challenges amidst economic development, the Chinese government enacted the Air Quality Information Disclosure Policy (AQIDP) in 2012. While this policy is generally seen as an effective measure to improve the environment, its impact on microeconomic factors, particularly the digital transformation of enterprises, remains unclear. This paper employs a difference-in-differences model to study the effect of AQIDP on DT using a sample of 3347 Chinese-listed companies from 2012 to 2021. We find that AQIDP significantly inhibits DT, a result that holds even after a series of robustness tests. Our mechanism tests reveal that AQIDP weakens DT by increasing economic policy uncertainty in companies, reducing human capital, and exacerbating the crowding-out effect of environmental protection investments. Heterogeneity analysis shows that AQIDP exerts a more significant inhibitory effect on DT in cities with stricter environmental regulations, more backward industries, and companies with non-high-pollution, high-tech characteristics and non-state-owned. Further analysis reveals that although AQIDP significantly restrains DT, it leads to positive environmental effects, such as promoting pollution reduction and carbon emission reduction in companies. Based on these findings, this paper proposes policy recommendations to improve the digital transformation of companies.

Behavioral Factors Influencing Investment Decision of Individual Investor at Nepalese Stock Market

The investment decision of individual investor is influenced by macro/micro economic and behavioral factors. Interest rate, economic growth, inflation, government policy, technological developments, etc., are the macro-economic factors, and firm size, book-to-market equity, cash flow yield, earnings yield, and dividend yield, etc. are the micro-economic factors whereas accounting information, advocate suggestion, personal financial needs, social relevance, self-image/firm-image coincidence, etc. are the behavioral factor. This paper has analyzed the perception of investor on the selected behavioral factors that makes influence on individual investor's investment decisions at Nepalese stock market. Using the structured survey questionnaire, this study concludes that behavioral factors have significant influence on investment decision of individual investor. This study revealed that to get rich quickly, reputation of the firm, feelings for a firm’s products and services, and firm status in industry are the major influencing Self–image/Firm-image factor. On the other hand, friend or coworker's recommendations, family member opinion, and broker recommendation are the most significant influencing Advocate Recommendation factors. Similarly, return maximizing, stock marketability, ease of obtaining borrowed funds, and expected dividends are the major Personal Financial Needs factors, and past trends of stock, information of dividend, price level of other stock, and information of the stock market are the major Market Information factors for influencing investment decision of individual investor at Nepalese stock market.

Formation of an organizational and economic mechanism for increasing the economic stability of an enterprise in the management of intellectual property objects

The purpose of the study is to analyze the impact of macro- and microeconomic factors on the formation of the management system of intellectual property objects as a structural element of the organizational and economic mechanism of increasing the economic sustainability of the enterprise. The right of ownership of intellectual products is considered an institutional prerequisite for increasing the enterprise's sustainability on an innovative basis, and objects of intellectual property are determined as a critical factor of social production. In enterprise management's organizational and economic mechanism, attention is focused on goals and incentives. It is proposed to consider increasing the economic stability of the enterprise as a complex goal of management, the reengineering of which is initiated by disturbances of various etymologies with the dominant influence of external factors. As an adaptive tool for transforming the organizational and economic mechanism of enterprise management into an open system, the creation of conditions for the effective implementation of the formation, use, and distribution of intellectual property objects is proposed. The system's components of increasing the enterprise's innovative potential are highlighted, including strategic management of intellectual property, protection of intellectual property rights, management of the intellectual property portfolio, internal knowledge management, creation of an innovative culture, and optimization of financial management of intellectual assets. A comprehensive understanding of the prerequisites for protecting intellectual property rights in the context of the institutional system functioning at the national level is presented. It has been proven that the ability to transform intellectual property objects into an influential factor in acquiring sustainability by business entities depends on the quality of public-private partnerships in terms of relations between the government, businesses, and universities. Keywords: organizational and economic mechanism, economic stability, enterprise, intellectual property management, intellectual property objects, intellectual capital, national innovation system.

Research on the Influence of Microeconomic Factors on Stock Market Fluctuation

Market volatility has always been a focus of attention for investors and practitioners, as it is crucial for investment decision-making and risk management. Microeconomic factors, such as company financial conditions, macroeconomic factors, industry characteristics, and government policies, are considered to play a crucial role in the formation of stock market volatility. The contribution of this article lies in the in-depth exploration of the impact mechanism of microeconomic factors on stock market volatility, providing investors with more information on how to evaluate risks and formulate investment strategies. In addition, the research findings of this article can also guide financial practitioners to improve risk management tools and strategies to better adapt to market volatility. Governments and regulatory agencies can also develop more precise financial market policies based on research results to maintain market stability and fairness. In summary, this article emphasizes the importance of microeconomic factors in stock market volatility and provides in-depth insights on this key issue. This has important guiding significance for investment decision-making, risk management, and policy formulation in the financial field.

ЦІНОУТВОРЕННЯ В СИСТЕМІ МАРКЕТИНГОВОГО АНАЛІЗУ: ТЕОРЕТИЧНІ ПІДХОДИ

The topic of the study is the exploration of known and the search for new theoretical approaches to enhance pricing within the marketing activities system, considering constant fluctuations in market conditions. The article conducts a theoretical analysis of price as a category in the market economy, the impact of pricing on the financial condition, and the market position of a business. The central idea revolves around the creation of a marketing-oriented price. Therefore, the theory of pricing, as a crucial component of marketing, should incorporate a synthetic approach, recognizing that all elements of the marketing complex, including corporate identity, should contribute to price formation. Prices convey diverse information to consumers, making pricing strategy a significant factor in competitiveness. The pricing policy is influenced by both internal and external factors, outlined in detail by marketing analysis. Marketing activities in the field of pricing should be focused on the individualization of demand within the framework of marketing interaction, the creation of stable ties with consumers, while the price is influenced by factors of all components of the marketing complex of enterprises. Businesses increasingly adopt marketing principles in setting prices, making price a fundamental tool in a marketer's inventory. In the marketing analysis of the pricing process strategic pricing policies are identified to achieve the enterprise's defining goals such as profit, market position, leadership, and customer satisfaction. Marketing analysis prompts adjustments to the company's pricing strategies in response to new market situations and considering the stage of the product life cycle. Marketers, having examined macro and microeconomic factors, employ marketing analysis to select a pricing method – a complex task requiring thorough scientific justification. Economic modelling and forecasting of consumer behaviour, along with controlled market tests and purchase simulations, are crucial methods in this decision-making process. Pricing in marketing is a creative process, further underscored by the dynamic business environment.

The Sharing Economy in the Tourism Sector: Microeconomic Factors

This research endeavours to explore the intricate dynamics of microeconomic factors that significantly influence the evolution of the sharing economy within the vibrant landscape of Lithuania’s tourism sector. By harnessing an extensive dataset comprising diverse tourism metrics and online platform activities, advanced regression analysis techniques are employed to uncover the intricate interplay between tourism employment and key determinants such as tourism output, accommodation infrastructure, internet accessibility, and other pertinent variables. The empirical insights gleaned from this analysis reveal compelling correlations, shedding light on the pivotal role played by these factors in shaping the burgeoning sharing economy within the tourism realm. Moreover, this study provides nuanced insights into the potential implications for future research endeavours. By elucidating the complex relationships between various economic variables and the sharing economy, this research lays the groundwork for further empirical exploration and theoretical refinement. The ramifications of this research extend beyond academia to encompass practical implications for industry practitioners and policymakers alike. By gaining a deeper understanding of the microeconomic drivers of the sharing economy in the tourism sector, stakeholders can devise more informed strategies to leverage its potential for sustainable growth and development. In conclusion, this research represents a significant contribution to the burgeoning field of sharing economy studies within the context of the tourism sector. By revealing the intricate web of microeconomic factors underpinning its development, this study provides valuable insights that can inform both academic discourse and practical decision-making processes. Ultimately, it is hoped that this research will catalyse further exploration and innovation in the field, driving continued growth and prosperity within Lithuania’s tourism sector.