Dániel Havran - Academia.edu (original) (raw)

Papers by Dániel Havran

Data in Brief

The dataset presented in this paper consists of a network of interpersonal lending relations from... more The dataset presented in this paper consists of a network of interpersonal lending relations from a single village of a de- privated area of Hungary. The data are originated from quan- titative surveys from May 2014 to June 2014. The data collec- tion was embedded in a Participatory Action Research (PAR) which aimed to investigate the financial survival strategies of low-income households in a Hungarian village in a disadvan- taged region. The directed graphs of lending and borrowing are a unique dataset that empirically captures a hidden and informal financial activity between households. The network contains 164 households and 281 credit connections among them.

Kozgazdasagi Szemle, 2014

Kozgazdasagi Szemle, 2008

A halozatos iparagakban, ahogy a postai szolgaltatasoknal is, a forgalomban levő keszpenz nagymer... more A halozatos iparagakban, ahogy a postai szolgaltatasoknal is, a forgalomban levő keszpenz nagymeretű műkodőtőket jelenthet. A Magyar Posta a level- es csomagkezbesitesen kivul jelentős keszpenzforgalmat bonyolit le: nyugdijakat, segelyeket es keszpenz-atutalasi megbizasokat tovabbit. A forgalom napi ingadozasa a vallalat likvideszkoz-igenyet jelentősen meghatarozza. A posta eseteben a postahivatalok keszpenzgazdalkodasa jol műkodő huvelykujjszabalyokon keresztul tortenik, ezek a szabalyok dontesi teret hagynak a halozat heterogen egyedi szereplőinek. Az egyedi keszletezesi viselkedest a vallalati műkodőtőke meghatarozasakor figyelembe kell venni. A tanulmany az egyedi keszletezesi szokasok modellezesere uj modszertant ajanl, majd a viselkedesmintakat csoportositva a penzkeszletezesnek, a vallalati műkodőtőke szintjenek es a vallalati likviditasi pozicionak a kapcsolatat elemzi. Journal of Economic Literature (JEL) kod: C15, D85, G21, G32, L87

Kozgazdasagi Szemle, 2015

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Kozgazdasagi Szemle, 2015

New statistical tools like AMMI provide quantitative understanding of the differences in plant ad... more New statistical tools like AMMI provide quantitative understanding of the differences in plant adaptation associated with the differences in performance and, in particular, the genotype-environment interaction (GxE). AMMI presents an analysis of the GxE that extends the classical additive main effect model for genotype and environments (ie, ANOVA) by including multiplicative terms for interactions (ie, principal component analysis). A study was conducted in four major sugarcane-growing areas in Luzon and Visayas, namely Tarlac, Tarlac; Balayan, Batangas; La Carlota, Negros Occidental; and Victorias, Negros Occidental. Twelve sugarcane varieties were evaluated using morpho-physiological parameters during the entire growth period of the plants, namely Phil56-226, vmc90-239, Phil84-77,

ECMS 2011 Proceedings edited by: T. Burczynski, J. Kolodziej, A. Byrski, M. Carvalho, 2011

A tanulmány Joseph Alois Schumpeter finanszírozási elméletének megértéséhez nyújt adalékokat. Sch... more A tanulmány Joseph Alois Schumpeter finanszírozási elméletének megértéséhez nyújt adalékokat. Schumpeter finanszírozási elméletében – amely a korábban gyakran alkalmazott statikus szemléletmód helyett a vállalkozásokat dinamikájukban ragadta meg – a vállalkozásoknak az új, jövedelmezőnek ítélt projektek elindításához, működtetéséhez tőkére van szükségük. Amennyiben a vállalkozásoknak nincs elegendő belső megtakarításuk, külső forráshoz kell fordulniuk, a finanszírozót pedig a projekt várható sikerességével lehet meggyőzni. A finanszírozó intézmények által nyújtott forrás segítségével felgyorsítható a vállalkozás növekedése, nem kell megvárni, hogy évek alatt gyűljön össze a beruházáshoz elegendő belső megtakarítás. A finanszírozás formájának – amelyen általában érthetünk banki hitelezést, részvénykibocsátást, kereskedelmi hitel nyújtását vagy kockázatitőke-finanszírozást is – hatása a vállalatok növekedésére, illetve beruházási tevékenységére a mai napig fontos elméleti, empirikus é...

Hitelintézeti szemle, 2017

This paper addresses the way in which trade credit was used by Hungarian firms in the period betw... more This paper addresses the way in which trade credit was used by Hungarian firms in the period between 2010 and 2015. Relying on Burkart and Ellingsen's (2004) theory of trade credit, we use panel data on 14,554 Hungarian firms (including 68 large corporations) to estimate the relationship of trade credit and short-term bank credit. Estimated on sub-samples broken down by profitability, our results only confirm a complementary relationship. We also examine the relationship separately for each category of firm size. We found a complementary relationship for small and microenterprises, whereas the results obtained for large corporations imply a substitution effect. In Hungary, in the period after 2013 accounts payable tended to be increased by financially constrained micro and medium-sized enterprises and mostly held steady by financially unconstrained firms.

Innovations in Social Finance, 2021

Short food supply chains (SFSCs), especially community-supported agriculture systems, often invol... more Short food supply chains (SFSCs), especially community-supported agriculture systems, often involve communities in which producers and buyers know each other personally. In the last two decades, innovative technologies have created market platforms that aid short food supply chains. The platform-supported operation is a modern method of micro-farm production based on traditional methods. Moreover, novel info-communication technologies provide online spaces as they build and nurture personal relationships and facilitate alternative forms of funding. In this study, we investigate the use of personal relationship characteristics in innovative financing techniques. First, we formulate a theoretical concept to better understand the economic value added by actors in SFSCs and their finance. In our approach, we develop the concepts of the entrepreneurial and integrative roles, and we explain how they support financing. Second, we present examples that reveal how new crowdfunding techniques play these roles in typical funding situations, such as start-up funding, working capital financing, and investment loans. The study contributes to the social finance literature by showing that direct information sharing in the short supply chains creates value, not only for the customers but the investors as well.

Hitelintézeti szemle, 2017

A tanulmany Schumpeter finanszirozasi elmeletenek fejlődeset vizsgalja. Schumpeter 1921 es 1924 k... more A tanulmany Schumpeter finanszirozasi elmeletenek fejlődeset vizsgalja. Schumpeter 1921 es 1924 kozott a Biedermann Bank elnokekent tevekenykedett, s ebben az időszakban a bank műkodeset egyaltalan nem nevezhetjuk sikeresnek. A szerző roviden bemutatja azt a Schumpeter altal leirt finanszirozasi problemat, amelyben a bankar vasarloerő-teremtessel nyujt hitelt a vallalkozo innovaciojanak finanszirozasahoz; majd megvizsgalja, hogy a bankarkent eltoltott időszak mennyiben befolyasolta Schumpeter gondolkodasat a finanszirozas kerdeset megragado elkepzeleseiben. Kijelenthető, hogy Schumpeter tobb ponton is felulvizsgalta első meglatasait, es kesőbbi erveleseibe gyakorlati bankismereteit is beepitette. A tanulmany roviden osszekoti a vizsgalt fogalmakat mai valtozataikkal es ertelmezesukkel is.* Journal of Economic Literature (JEL) kod: B15, N24, O30, G21, G24.

Market makers on financial markets often act as competitiors and step into cooperations with each... more Market makers on financial markets often act as competitiors and step into cooperations with each other at the same time. Primarily, they quote prices for investors, thus providing liquidity on the customer market. But they also trade with each other in order to reduce their inventory risk. The interdealer markets differs from walrasian markets in three main features: the trades are bilateral, the players usually form trading networks, the players have different bargaining powers. This paper describes the situation when customer and interdealers markets are strongly interconnected and characterizes the market equilibrium. Moreover, we investigate on different pricing strategies followed by market makers on the customer markets, when interdealer risk allocation is allowed. In this setup market makers operate in a duopoly on the customer market, and trading counterparties with different bargaining power on the interdealer markets. We show that the presence of an interdealer market red...

Data in Brief

The dataset presented in this paper consists of a network of interpersonal lending relations from... more The dataset presented in this paper consists of a network of interpersonal lending relations from a single village of a de- privated area of Hungary. The data are originated from quan- titative surveys from May 2014 to June 2014. The data collec- tion was embedded in a Participatory Action Research (PAR) which aimed to investigate the financial survival strategies of low-income households in a Hungarian village in a disadvan- taged region. The directed graphs of lending and borrowing are a unique dataset that empirically captures a hidden and informal financial activity between households. The network contains 164 households and 281 credit connections among them.

Kozgazdasagi Szemle, 2014

Kozgazdasagi Szemle, 2008

A halozatos iparagakban, ahogy a postai szolgaltatasoknal is, a forgalomban levő keszpenz nagymer... more A halozatos iparagakban, ahogy a postai szolgaltatasoknal is, a forgalomban levő keszpenz nagymeretű műkodőtőket jelenthet. A Magyar Posta a level- es csomagkezbesitesen kivul jelentős keszpenzforgalmat bonyolit le: nyugdijakat, segelyeket es keszpenz-atutalasi megbizasokat tovabbit. A forgalom napi ingadozasa a vallalat likvideszkoz-igenyet jelentősen meghatarozza. A posta eseteben a postahivatalok keszpenzgazdalkodasa jol műkodő huvelykujjszabalyokon keresztul tortenik, ezek a szabalyok dontesi teret hagynak a halozat heterogen egyedi szereplőinek. Az egyedi keszletezesi viselkedest a vallalati műkodőtőke meghatarozasakor figyelembe kell venni. A tanulmany az egyedi keszletezesi szokasok modellezesere uj modszertant ajanl, majd a viselkedesmintakat csoportositva a penzkeszletezesnek, a vallalati műkodőtőke szintjenek es a vallalati likviditasi pozicionak a kapcsolatat elemzi. Journal of Economic Literature (JEL) kod: C15, D85, G21, G32, L87

Kozgazdasagi Szemle, 2015

[

Kozgazdasagi Szemle, 2015

New statistical tools like AMMI provide quantitative understanding of the differences in plant ad... more New statistical tools like AMMI provide quantitative understanding of the differences in plant adaptation associated with the differences in performance and, in particular, the genotype-environment interaction (GxE). AMMI presents an analysis of the GxE that extends the classical additive main effect model for genotype and environments (ie, ANOVA) by including multiplicative terms for interactions (ie, principal component analysis). A study was conducted in four major sugarcane-growing areas in Luzon and Visayas, namely Tarlac, Tarlac; Balayan, Batangas; La Carlota, Negros Occidental; and Victorias, Negros Occidental. Twelve sugarcane varieties were evaluated using morpho-physiological parameters during the entire growth period of the plants, namely Phil56-226, vmc90-239, Phil84-77,

ECMS 2011 Proceedings edited by: T. Burczynski, J. Kolodziej, A. Byrski, M. Carvalho, 2011

A tanulmány Joseph Alois Schumpeter finanszírozási elméletének megértéséhez nyújt adalékokat. Sch... more A tanulmány Joseph Alois Schumpeter finanszírozási elméletének megértéséhez nyújt adalékokat. Schumpeter finanszírozási elméletében – amely a korábban gyakran alkalmazott statikus szemléletmód helyett a vállalkozásokat dinamikájukban ragadta meg – a vállalkozásoknak az új, jövedelmezőnek ítélt projektek elindításához, működtetéséhez tőkére van szükségük. Amennyiben a vállalkozásoknak nincs elegendő belső megtakarításuk, külső forráshoz kell fordulniuk, a finanszírozót pedig a projekt várható sikerességével lehet meggyőzni. A finanszírozó intézmények által nyújtott forrás segítségével felgyorsítható a vállalkozás növekedése, nem kell megvárni, hogy évek alatt gyűljön össze a beruházáshoz elegendő belső megtakarítás. A finanszírozás formájának – amelyen általában érthetünk banki hitelezést, részvénykibocsátást, kereskedelmi hitel nyújtását vagy kockázatitőke-finanszírozást is – hatása a vállalatok növekedésére, illetve beruházási tevékenységére a mai napig fontos elméleti, empirikus é...

Hitelintézeti szemle, 2017

This paper addresses the way in which trade credit was used by Hungarian firms in the period betw... more This paper addresses the way in which trade credit was used by Hungarian firms in the period between 2010 and 2015. Relying on Burkart and Ellingsen's (2004) theory of trade credit, we use panel data on 14,554 Hungarian firms (including 68 large corporations) to estimate the relationship of trade credit and short-term bank credit. Estimated on sub-samples broken down by profitability, our results only confirm a complementary relationship. We also examine the relationship separately for each category of firm size. We found a complementary relationship for small and microenterprises, whereas the results obtained for large corporations imply a substitution effect. In Hungary, in the period after 2013 accounts payable tended to be increased by financially constrained micro and medium-sized enterprises and mostly held steady by financially unconstrained firms.

Innovations in Social Finance, 2021

Short food supply chains (SFSCs), especially community-supported agriculture systems, often invol... more Short food supply chains (SFSCs), especially community-supported agriculture systems, often involve communities in which producers and buyers know each other personally. In the last two decades, innovative technologies have created market platforms that aid short food supply chains. The platform-supported operation is a modern method of micro-farm production based on traditional methods. Moreover, novel info-communication technologies provide online spaces as they build and nurture personal relationships and facilitate alternative forms of funding. In this study, we investigate the use of personal relationship characteristics in innovative financing techniques. First, we formulate a theoretical concept to better understand the economic value added by actors in SFSCs and their finance. In our approach, we develop the concepts of the entrepreneurial and integrative roles, and we explain how they support financing. Second, we present examples that reveal how new crowdfunding techniques play these roles in typical funding situations, such as start-up funding, working capital financing, and investment loans. The study contributes to the social finance literature by showing that direct information sharing in the short supply chains creates value, not only for the customers but the investors as well.

Hitelintézeti szemle, 2017

A tanulmany Schumpeter finanszirozasi elmeletenek fejlődeset vizsgalja. Schumpeter 1921 es 1924 k... more A tanulmany Schumpeter finanszirozasi elmeletenek fejlődeset vizsgalja. Schumpeter 1921 es 1924 kozott a Biedermann Bank elnokekent tevekenykedett, s ebben az időszakban a bank műkodeset egyaltalan nem nevezhetjuk sikeresnek. A szerző roviden bemutatja azt a Schumpeter altal leirt finanszirozasi problemat, amelyben a bankar vasarloerő-teremtessel nyujt hitelt a vallalkozo innovaciojanak finanszirozasahoz; majd megvizsgalja, hogy a bankarkent eltoltott időszak mennyiben befolyasolta Schumpeter gondolkodasat a finanszirozas kerdeset megragado elkepzeleseiben. Kijelenthető, hogy Schumpeter tobb ponton is felulvizsgalta első meglatasait, es kesőbbi erveleseibe gyakorlati bankismereteit is beepitette. A tanulmany roviden osszekoti a vizsgalt fogalmakat mai valtozataikkal es ertelmezesukkel is.* Journal of Economic Literature (JEL) kod: B15, N24, O30, G21, G24.

Market makers on financial markets often act as competitiors and step into cooperations with each... more Market makers on financial markets often act as competitiors and step into cooperations with each other at the same time. Primarily, they quote prices for investors, thus providing liquidity on the customer market. But they also trade with each other in order to reduce their inventory risk. The interdealer markets differs from walrasian markets in three main features: the trades are bilateral, the players usually form trading networks, the players have different bargaining powers. This paper describes the situation when customer and interdealers markets are strongly interconnected and characterizes the market equilibrium. Moreover, we investigate on different pricing strategies followed by market makers on the customer markets, when interdealer risk allocation is allowed. In this setup market makers operate in a duopoly on the customer market, and trading counterparties with different bargaining power on the interdealer markets. We show that the presence of an interdealer market red...