https://dspace.aua.am/xmlui/handle/123456789/2 2026-05-22T03:40:56Z 2026-05-22T03:40:56Z Tonoyan, Meline https://dspace.aua.am/xmlui/handle/123456789/1694 2022-04-13T05:27:41Z 2020-01-01T00:00:00Z

Reasoning processes behind online consumers' decisions to trust a website when making low and high-risk decisions Tonoyan, Meline This paper aims to investigate the reasoning processes behind online consumers' decisions to trust a website when making low and high-risk decisions. Data were collected in an online field experiment that was then analyzed using statistical methods and models such as pivot table, longitudinal and independent logistic regressions, and Wald's chi-square test. This paper argues that people tend to use deliberative reasoning processes in a risk-free environment and rely on intuitive processes in high-risk situations with ambiguity. In addition, this study provided data-driven proof for these assumptions. Thesis

2020-01-01T00:00:00Z Simonyan, Inessa https://dspace.aua.am/xmlui/handle/123456789/1693 2022-04-13T05:29:22Z 2020-01-01T00:00:00Z

Applying the blue ocean strategy framework in various industries in Armenia Simonyan, Inessa This paper aims to analyze the implementation of the Blue Ocean Strategy (BOS) in the Armenian startup industry and propose a methodology to implement the Blue Ocean Strategy framework in various industries in Armenia. Applying BOS tools and frameworks to their business strategies will help Armenian companies to achieve high profitability, sustainable future growth, and industry expansion by creating new demand and reconstructing Armenian startup industry barriers. The research paper is constructed based on the sectoral overview of local and international cases. The Crowdfunding Formula (TCF) is an Armenian company, a strategy of which seems to be closest to the classic Blue Ocean Strategy framework. The extent to which the company’s strategy corresponds to the Blue Ocean Strategy is checked by using blue ocean theory, analytical tools, and frameworks such as three strategy propositions, value innovation, three tiers of non-customers, four actions framework, and strategy canvas. Additionally, in order to prove that the “Blue Ocean” that TCF has created delivers high value to its customers, the testimonials of their main customers are included. As a practitioner of the Blue Ocean Strategy, TCF’s performance is analyzed further to find out the implementation results of the strategy, in terms of the company’s growth and profitability. Since it is always possible that new blue oceans can create new red oceans in the future, the paper also estimates how much imitable TCF’s business strategy is through analyzing the three strategy propositions the company delivers internally and externally to the marketplace. The analysis is conducted by using the indicators of the industry features, the people culture, and the annual financial statements the company has. Based on the results, the paper will propose a methodology and guideline for other Armenian companies on how to use the Blue Ocean Strategy taking into account unique local market factors. Thesis

2020-01-01T00:00:00Z Hovhannisyan, Meri https://dspace.aua.am/xmlui/handle/123456789/1626 2022-04-13T05:30:24Z 2019-01-01T00:00:00Z

Impact of liquidity on profitability of commercial banks in Armenia Hovhannisyan, Meri This study aims to investigate impact of liquidity on profitability level for the sample of commercial banks operating in Armenia. The 2008 crisis emphasized how important it is for banks to have an efficient liquidity management. New and stricter standards were defined by regulators to make financial system stable and resilient. On the other hand, it is a widely known problem faced by financial managers, whether funds should be invested in assets that boost more profit but result in slight liquidity, because of being long-term or in short-term assets that are less profitable but are highly liquid. The ultimate goal of this research is to find out whether liquidity management influences significantly profitability of commercial banks in Armenia. The study was implemented on 15 out of all 17 commercial banks operating at this point, for different periods depending on availability of the data. In order to analyze the variables and the relationship between them, descriptive statistics and multiple regression analysis were exploited. With one dependent variable (ROA) and 5 independent variables S1_1, S2_2 (liquidity ratios established by the Central Bank of Armenia), LDR, DAR, LLP/A results suggest that profitability is increased with the increase of high liquid assets, but diminished with increase of loan-loss provision amount kept by the banks. Although it is generally accepted, that liquidity was undervalued before the crisis, a tradeoff between liquidity and the opportunity cost of holding liquid but low-yielding assets should be considered as well. Thus, the way of efficient liquidity management and increasing profits is to be found by financial managers. Thesis

2019-01-01T00:00:00Z Sarikyan, Arsine https://dspace.aua.am/xmlui/handle/123456789/1625 2023-02-15T06:18:56Z 2019-01-01T00:00:00Z

The impact of enterprise zones tax exemption policy in rural regions of Armenia Sarikyan, Arsine This paper examines the impact of enterprise zones in the rural borderline regions of Armenia, which is aimed to promote the development of the targeted areas, by the provision of special tax exemptions. The findings of extensive and intensive margins conclude that the program has a little impact on the creation of new businesses, as the intensive margin accounts for the major portion of the turnover variation. The difference-in-difference quasi experimental design approach was implemented for testing the hypothesis on an unbalanced panel data, consisting of 2,632 border and 22,153 non-border observations. The method fails to reject the hypothesis that the enterprise zones do not affect the total turnover, meaning that the program has not achieved its intended impact. In addition, the fixed effect regression was implemented for comparing the results and examining the year-specific effects.

2019-01-01T00:00:00Z