A New Logistic Model of Market Information Asymmetry Reduction in Poland

Elżbieta Gołembska
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Elżbieta Gołembska: Department Finance and Banking, WSB University of Poznanul, Powstancow Wielkopolskich 5, 61-895 Poznan, Poland

Logistics, 2021, vol. 5, issue 1, 1-19

Abstract: 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 (Go?embska, 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.

Keywords: logistic model of information asymmetry; sources of information asymmetry; transaction costs; logistics infrastructure; logistics costs; logistification; strategic alliances; internationalization; transnational corporations (search for similar items in EconPapers)
JEL-codes: L8 L80 L81 L86 L87 L9 L90 L91 L92 L93 L98 L99 M1 M10 M11 M16 M19 R4 R40 R41 R49 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jlogis:v:5:y:2021:i:1:p:5-:d:480090

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