A New Logistic Model of Market Information Asymmetry Reduction in Poland
The article presents the first theoretical and empirical estimation of the role of logistics in mitigating the effects of market information asymmetry in Poland. Following a review of international (Akerlof, Spencer, Stiglitz) and Polish literature (Gołembska, Gruszecki, Stradomski), a new logistic...
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| Format: | Article |
| Language: | English |
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MDPI AG
2021-01-01
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| Series: | Logistics |
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| Online Access: | https://www.mdpi.com/2305-6290/5/1/5 |
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| Summary: | The article presents the first theoretical and empirical estimation of the role of logistics in mitigating the effects of market information asymmetry in Poland. Following a review of international (Akerlof, Spencer, Stiglitz) and Polish literature (Gołembska, Gruszecki, Stradomski), a new logistic model of information asymmetry (LMAI) is presented. The article attempts an empirical verification of this model using the results of studies conducted in Polish firms in the period 2000–2018. The studies examined the efficiency and effectiveness of logistics management, with a particular focus on logistics infrastructure expenditure, balance-sheet inventories, and logistics costs. The computation of the LMAI indicator, based on averaged data provided by manufacturers, distributors and service firms, enabled the estimation of the impact of logistics management on reducing the effects of information asymmetry, and showed the differences of this impact in individual industries including the pharmaceutical, tourist, transport and food distribution industry. |
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| ISSN: | 2305-6290 |