@article{MTMT:34775060, title = {Spatial-Temporal Analysis of Urban Climate Dynamics in Major Hungarian Cities}, url = {https://m2.mtmt.hu/api/publication/34775060}, author = {Buzási, Attila and Beszedics-Jäger, Bettina Szimonetta and Hortay, Olivér}, doi = {10.1088/2515-7620/ad39a3}, journal-iso = {ENVIRON RES COMMUN}, journal = {ENVIRONMENTAL RESEARCH COMMUNICATIONS}, volume = {6}, unique-id = {34775060}, issn = {2515-7620}, abstract = {Increasing heatwaves are making cities and their populations more vulnerable, parallel to urban sprawl and the aging population in Hungary. The increasing number of hot days is predicted to worsen urban climate anomalies at the local scale, which, in parallel with changing land use patterns, may contribute to a significant increase in vulnerability to heatwaves. Local stakeholders and decision-makers need to understand the critical role of spatiotemporal land use – land cover (LULC) patterns and urban climate aspects to address relevant challenges for urban development. The current literature does not contain a synthesis analysis of major Hungarian cities that includes urban climate and sustainability findings hand by hand; therefore, this study aims to analyze LULC patterns, urban hotspots and surface urban heat island effects. In addition, the Normalized Difference Vegetation Index (NDVI) was determined as an important indicator for assessing the health and density of green spaces in major Hungarian cities from 2006 to 2018 using remote sensing data. Our results show that each city experienced significant urban sprawl, while above-average NDVI areas decreased over time. The average increase in the share of built-up areas was 1.3% from 2006 to 2018, while the calculated average decline in agricultural areas was 2%, so the expansion of residential areas and artificial areas is not the only driving force of this shrinking trend in agricultural areas. Furthermore, we found that urban hotspots are generally concentrated in industrial areas and represent new spaces of heat islands on the outskirts of cities. Székesfehérvár has the most intense industrial heat islands, with the largest proportion of urban hotspots (approximately 3.5% of the total area) concentrated in industrial zones. Our study contributes to uncovering inter-urban processes of land use patterns and urban climate issues in major Hungarian cities, moreover revealing sustainability-related issues from a lock-in perspective.}, year = {2024}, eissn = {2515-7620}, orcid-numbers = {Buzási, Attila/0000-0002-4088-9276} } @article{MTMT:34763428, title = {Climate change worry in the times of the COVID-19 pandemic. Evidence from two large-scale European surveys}, url = {https://m2.mtmt.hu/api/publication/34763428}, author = {Stefkovics, Ádám and Ágoston, Csilla and Bukovenszki, Emőke and Dúll, Andrea and Hortay, Olivér and Varga, Attila}, doi = {10.1016/j.crm.2024.100599}, journal-iso = {CLIM RISK MANAG}, journal = {CLIMATE RISK MANAGEMENT}, volume = {44}, unique-id = {34763428}, abstract = {Climate change beliefs drive individual actions tackling climate change and influence the support of climate change policies. In the last two years, however, humanity has faced a parallel global crisis: the COVID-19 pandemic. The widely communicated finite pool of worry theory suggests that consideration of a crisis usually decreases when another crisis is emerging. Nevertheless, according to recent evidence, climate change concerns or awareness have increased during the pandemic. In this study, we aimed at describing recent changes in climate change concerns and examining the effect of COVID-fear on climate change worry in 28 European countries drawing on data from nationally representative surveys. We observed a strong increase in climate change concerns between 2016 and 2021, and a slight additional increase between during the pandemic (between 2020 and 2021) in the 28 countries examined, especially in those countries, where the level of concern was originally lower. The results of the multilevel models showed that COVID-19 fear reinforces climate change concerns which contradicts the finite pool of worry theory. These findings may come as good news given that increasing climate change concerns may raise individuals' support of climate policies, however, carefully designed awareness-raising campaigns are needed. © 2024 The Authors}, keywords = {Survey; European Union; Multilevel regression; COVID-19; climate change beliefs}, year = {2024}, eissn = {2212-0963}, orcid-numbers = {Stefkovics, Ádám/0000-0003-4961-7792; Ágoston, Csilla/0000-0002-5229-9345; Dúll, Andrea/0000-0002-0087-3309; Varga, Attila/0000-0002-0659-3551} } @article{MTMT:34554368, title = {Asymmetric volatility in asset prices: An explanation with mental framing}, url = {https://m2.mtmt.hu/api/publication/34554368}, author = {Ormos, Mihály and Timotity, Dusán}, doi = {10.1016/j.heliyon.2024.e24978}, journal-iso = {HELIYON}, journal = {HELIYON}, volume = {10}, unique-id = {34554368}, abstract = {We propose a theoretical framework for the heteroscedasticity, and in particular for the asymmetric volatility of asset returns. Our model is based on the assumption that some investors are subject to mental framing in a dynamic setting. The analysis of individual trading data confirms that, in line with our model, investors tilt their portfolio towards riskier (less risky) assets subsequent to losses (gains). Based on their behavior, we derive a volatility process that accounts for the asymmetry thoroughly investigated in previous empirical studies: the parameter estimation of our volatility model yields the predicted negative relationship between abnormal returns and ensuing volatility. © 2024 The Authors}, keywords = {Market microstructure; Asymmetric volatility; Heuristic-driven trader; Mental framing; Volatility dynamics}, year = {2024}, eissn = {2405-8440}, pages = {1-18}, orcid-numbers = {Ormos, Mihály/0000-0002-3224-7636} } @article{MTMT:34124650, title = {Monopoly pricing with dual‐capacity constraints}, url = {https://m2.mtmt.hu/api/publication/34124650}, author = {Somogyi, Róbert}, doi = {10.1111/jems.12556}, journal-iso = {J ECON MANAGE STRAT}, journal = {JOURNAL OF ECONOMICS & MANAGEMENT STRATEGY}, volume = {33}, unique-id = {34124650}, issn = {1058-6407}, abstract = {This paper studies the price‐setting behavior of a monopoly facing two capacity constraints: one on the number of its consumers, and the other on the amount of products it can sell. The characterization of the firm's optimal pricing and optimal customer mix as a function of its two capacities reveals a rich structure. In contrast to the results under one‐dimensional capacity constraints with constant marginal cost of production, a firm may optimally respond to an exogenous reduction in one of its capacities by decreasing one of its prices. Moreover, neglecting the existence of the second capacity constraint can reverse some policy interventions' effects on consumer welfare. In particular, easing a regulatory restriction on one of the constraints may harm the average consumer.}, year = {2024}, eissn = {1530-9134}, pages = {155-174}, orcid-numbers = {Somogyi, Róbert/0000-0003-1033-1754} } @article{MTMT:34757399, title = {Javaslat a hazai lakóépületek energetikai felújításának innovatív finanszírozására}, url = {https://m2.mtmt.hu/api/publication/34757399}, author = {Erdélyi, Bence and Hortay, Olivér}, doi = {10.24307/psz.2023.1227}, journal-iso = {POLGÁRI SZEMLE}, journal = {POLGÁRI SZEMLE: GAZDASÁGI ÉS TÁRSADALMI FOLYÓIRAT}, volume = {19}, unique-id = {34757399}, issn = {1786-6553}, abstract = {Az Európai Unió törekvéseivel párhuzamban, hazánkban is jelentős szerepet játszik az energiahatékonyság. Az elkövetkező időszak egyik feladata – többek között – a lakóépületek energiahatékonyságának javítása és ennek finanszírozása. A kutatásban javaslatként kerülnek bemutatásra a közüzemi számlán történő beruházási finanszírozás visszafizetésére létrehozott rendszerek, melyek innovatív pénzügyi keretet jelenthetnek az energiahatékonysági beruházások támogatására. E célból a tanulmányban az értékáram-modell kerül alkalmazásra a rendszerek megvalósításához szükséges modellek kidolgozásához és javaslatához. Az általános sémát kereskedői és kereskedelmi bank szempontjából SWOT analízissel vizsgáltuk. A piaci környezet elemzésére PEST elemzés került alkalmazásra. Összességében az mondható el, hogy a modell alkalmas lehet a lakossági szektor energiahatékonysági támogatására. Azonban jól látható, hogy az akadályok többsége regulációs jellegű, amelyeket csak szakpolitikai együttműködéssel lehet feloldani, és így a modell eredményessége szempontjából fontos lehet a kormányzat különböző mértékű bevonása a megvalósításba.}, keywords = {finanszírozás; energiahatékonyság; EKR; lakossági beruházások; fenntartható gazdaság; innovatív finanszírozás}, year = {2023}, eissn = {1786-8823}, pages = {386-403} } @article{MTMT:34746381, title = {CAP AND TRADE MODEL – ECONOMIC INDICATORS OF HUNGARIAN ENTERPRISES INVOLVED IN EMISSIONS TRADING}, url = {https://m2.mtmt.hu/api/publication/34746381}, author = {Böcskei, Elvira and Ilyésné Molnár, Emese}, journal-iso = {CONTROLLER INFO}, journal = {CONTROLLER INFO}, volume = {XI.}, unique-id = {34746381}, issn = {2063-9309}, year = {2023}, pages = {2-14} } @inproceedings{MTMT:34493427, title = {Államadósság - Eurón innen és túl}, url = {https://m2.mtmt.hu/api/publication/34493427}, author = {Novák, Zsuzsanna and Szalay, Zsuzsanna and Deák, Veronika}, booktitle = {A XV. Pécsi Pénzügyi Napok, I. Pénzügy és Számvitel Nemzetközi Tudományos Konferencia Tanulmánykötete = XV. Finance Days in Pécs, I. Finance and Accounting International Scientific Conference – Book of Papers}, unique-id = {34493427}, year = {2023}, pages = {61-71}, orcid-numbers = {Novák, Zsuzsanna/0000-0002-4785-0411} } @article{MTMT:34476673, title = {Finanszírozási rés a magyar kockázati tőkepiacon}, url = {https://m2.mtmt.hu/api/publication/34476673}, author = {Póra, András and Szőcs, Árpád}, journal-iso = {PÉNZÜGYI SZEMLE}, journal = {PÉNZÜGYI SZEMLE/PUBLIC FINANCE QUARTERLY (1963-)}, volume = {69}, unique-id = {34476673}, issn = {0031-496X}, abstract = {Tanulmányunk azt vizsgálja, hogy a hazai kockázati tőkepiacon mekkora az úgynevezett finanszírozási rés (gap), tehát az a potenciálisan kihelyezhető összeg, amit jelenleg a magyar pénzügyi közvetítőrendszer piaci alapon nem fed le. A vonatkozó szakirodalom feldolgozása kapcsán felmérjük, milyen teljesítőképességgel és jellegzetességekkel rendelkezik a magyar piac. A tradicionálisan banki alapokra épülő magyar pénzügyi közvetítőrendszer, a tőkepiaci finanszírozás minden szegmensében alulteljesít még kelet-közép európai összehasonlításban is. Kutatásunk keretében arra kerestük a választ, hogy a rendelkezésre álló kockázati tőke források képesek-e a piaci igényeket kielégíteni. A hazai kockázati- és magántőkepiacon mind az ügyletek száma, mind azok volumene alacsony nemzetközi összehasonlításban, és az állam szerepe elmarad a KKE országok átlagától. Elemzésünk újdonságértéke abban áll, hogy eddig még nem állt rendelkezésre hasonló a hazai szakirodalomban. Lineáris regresszióra alapuló becslésünk erős kapcsolatot mutatott ki a kockázati tőkebefektetések és a folyóáras GDP között. A becsült potenciális kockázati tőkebefektetés-állomány, és a megvalósult éves átlagok különbségéből egyértelműen kimutatható a piaci rés (gap). A már megvalósult állami programokon felül, éves szinten nagyságrendileg 12,5–31,6 millió euró, tehát az elemzés időpontjában fennálló euróárfolyamon számolva nagyjából éves 5,1–13,3 Mrd forint összegben hiányzik kockázatitőke forrás a hazai piacról. Ezen forrás rendelkezésre állása esetén, nagyobb lehetőségei lennének a hazai startupoknak fejlődni. Elemzésünk alapján nemcsak az állami jelenlét, de még annak növelése is indokolhatónak (legalábbis mindenképpen vizsgálandónak) tűnik. A kutatást a Nemzeti Kutatási, Fejlesztési és Innovációs Hivatal támogatta (FK-142492).}, keywords = {pénzügyi közvetítő rendszer; kockázatitőke; finanszírozási rés; állami támogatási programok}, year = {2023}, eissn = {2064-8278}, pages = {28-44}, orcid-numbers = {Póra, András/0000-0003-0428-5974} } @article{MTMT:34449166, title = {Funding gap in the Hungarian venture capital market}, url = {https://m2.mtmt.hu/api/publication/34449166}, author = {Póra, András and Szőcs, Árpád}, doi = {10.35551/PFQ_2023_4_2}, journal-iso = {PÉNZÜGYI SZEMLE}, journal = {PÉNZÜGYI SZEMLE/PUBLIC FINANCE QUARTERLY (1963-)}, volume = {69}, unique-id = {34449166}, issn = {0031-496X}, abstract = {Our study investigates the size of the so-called financing gap in the Hungarian venture capital market, i.e. the amount that can potentially be lent out, which is currently not covered by the Hungarian financial intermediary system on a market basis. The relevant literature will be reviewed to assess the performance and characteristics of the Hungarian market. The Hungarian financial intermediation system, traditionally based on banking, underperforms in all segments of capital market financing, even by Central and Eastern European standards. In our research, we sought to find out whether the available sources of venture capital could meet market needs. Both the number and volume of transactions in the domestic venture capital and private equity markets are low by international standards, and the role of the state is below the average for CEE countries. The novelty of our analysis lies in the fact that there is no similar literature available in Hungary. Our estimation based on linear regression revealed a strong relationship between venture capital investment and current GDP. The difference between the estimated potential risk capital stock and the annual averages zrealized clearly shows the market gap. In addition to the public programmes already implemented, the annual amount of risk capital missing from the domestic market is in the order of EUR 12.5-31.6 million, i.e. roughly HUF 5.1-13.3 billion per year at the euro exchange rate at the time of analysis. If this resource were available, domestic startups would have greater growth opportunities. Our analysis suggests that not only a state presence but even an increase in it, seems justifiable (or at least worth exploring). The research was supported by the National Research, Development and Innovation Office (FK-142492).}, year = {2023}, eissn = {2064-8278}, pages = {28-44}, orcid-numbers = {Póra, András/0000-0003-0428-5974} } @inproceedings{MTMT:34449097, title = {Management Education In An Engineering Environment : The Case Of BME}, url = {https://m2.mtmt.hu/api/publication/34449097}, author = {Szalmáné Csete, Mária and Lógó, Emma and Bodrogi, Bence Péter and Koltai, Tamás}, booktitle = {Proceedings of the 51st Annual Conference of the European Society for Engineering Education, SEFI 2023}, doi = {10.21427/GESF-6226}, unique-id = {34449097}, abstract = {Engineering higher education institutes need to integrate new skills and competences into their practice and curricula to accelerate the sustainability transition. This paper introduces the interdisciplinary upskilling of engineering students enrolled in engineering programs at the Budapest University of Technology and Economics (BME) and which has been provided by the Faculty of Economic and Social Sciences (GTK) since 1998. The BME GTK delivers an educational experience that fits into the environment defined by the engineering faculties at BME. The BME GTK has experience of more than a quarter of a century in engineering education related to socio-economic and management upskilling. This experience may contribute to the common knowledge of engineering education development solutions in the area of sustainability transition. This study focuses on assessing the socio-economic and management related courses of engineering students at BME provided by the nine departments of the GTK. The analyses examine the non-engineering skills of BME engineering students over the past ten years. The sample includes all the compulsory and elective courses available for engineering students. Based on the assessment results, the most significant management and socio-economic courses, and the related non-engineering interdisciplinary skills, both in bachelor and master levels, between 2012 and 2022 can be identified. The analyses allows the monitoring of management education's role in an engineering environment in the last decade. Furthermore, considering sustainability challenges, it provides an excellent basis for strategic decisions on future educational development. © 2023 SEFI 2023 - 51st Annual Conference of the European Society for Engineering Education: Engineering Education for Sustainability, Proceedings. All Rights Reserved.}, keywords = {Students; Decision support systems; time series analysis; Economics; Curricula; Engineering environment; Sustainable development; environmental management; Engineering education; TIME-SERIES ANALYSIS; TIME-SERIES ANALYSIS; Decision support; Decision supports; Social sciences computing; socio-economics; sustainability transition; sustainability transition; Management education; Management education; High educations; interdisciplinary skills and competences; Interdisciplinary competence; Interdisciplinary skills; Skills and competences}, year = {2023}, pages = {2932-2940}, orcid-numbers = {Szalmáné Csete, Mária/0000-0001-7170-9402; Koltai, Tamás/0000-0001-6873-6944} }