Central European Business Review最新文献

{"title":"The Role of Green Finance in Greening the Economy: Conceptual Approach","authors":"V. Aleknevičienė, Asta Bendoraitytė","doi":"10.18267/j.cebr.317","DOIUrl":"https://doi.org/10.18267/j.cebr.317","url":null,"abstract":"Currently, the economic development of countries and regions is not possible without the implementation of the European Green Deal. A set of policy initiatives by the European Commission is closely related to such concepts as greening the economy, green finance, climate finance, climate change adaptation and mitigation, environmental protection, and others. This research is dedicated to highlighting the role of green finance in the environmental protection and development of the financial sector. Green finance connects the worlds of finance and business with environmentally friendly behaviour. In principle, all strategic decisions made by business organisations must take into account the potential impact on the environment, which means that value creation in the long term is integral to the well-being of current and future generations. The novelty of the research lies in the developed conceptual framework of the role of green finance in greening the economy. The conceptual framework covers three main elements of the green economy: the real green economy, green finance, and providers of green finance – the green financial sector and public funds. It is developed by applying the methods of content analysis and synthesis,","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48708087","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Multidimensional Evaluation of EU and Slovakia in the Context of Digital Transformation","authors":"Sylvia Jenčová, Petra Vašaničová, Marta Miskufova","doi":"10.18267/j.cebr.313","DOIUrl":"https://doi.org/10.18267/j.cebr.313","url":null,"abstract":"The Covid-19 pandemic highlighted the cardinal intent, in which digital technologies play a key role in building a sustainable future, revealing disparities between digitally equipped companies and those that are still implementing digital solutions. It showed the difference between urban, rural and remote areas with good connections. This paper is divided into two parts. The first aim is to evaluate the performance of the digital economy and society according to its basic dimensions and quantify and compare the position of 28 European Union countries (considering Great Britain as a member) in the international area using DESI - (Digital Economy and Society Index). It will look to evaluate the overall change in the development of the Slovak Republic between individual periods based on the main dimensions of the composite index. The second part aims to find the clusters of the European Union countries by using data on their rankings within the five dimensions of DESI. Correlation analysis is used to meet the first aim, cluster analysis is used to meet the second aim. The data are obtained from the Ministry of Investment, Regional Development and Informatization of the Slovak Republic and the database of the European Centre for Digitization. The results show a statistically significant correlation in the rankings of the EU countries between the analysed years 2016-2020. Moreover, among the European Union countries, there are internally homogeneous and external heterogeneous groups of countries with respect to ranking within DESI dimensions. Cluster analysis has not been used so far in analysing DESI in the existing literature. Therefore, the results of this paper fill such a research gap.Implications for Central European audience: Quantification and comparison of the position of 28 European Union countries in the international area using DESI can help to identify and improve the digital competitiveness of European Union countries. Knowing five dimensions of DESI, its specific subdimensions, and indicators can help to identify controversial areas to which the state should pay attention. This paper deals, in more detail, with the position of Slovakia in the digital competitiveness of the EU using DESI © 2023, Central European Business Review.All Rights Reserved.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46399557","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Perceived Price and Quality of Food of European Union Countries of Origin by Slovaks: The Influence of Ethnocentric Tendencies","authors":"Marián Čvirik","doi":"10.18267/j.cebr.314","DOIUrl":"https://doi.org/10.18267/j.cebr.314","url":null,"abstract":"Perceived price and perceived quality are two generic factors influencing purchasing decisions. Their importance is also connected with the effect of the country of origin. The main aim of the article is to examine the perception of price and quality in the context of individual countries of origin of the European Union and influence of the consumer ethnocentrism on this perception. From the point of view of methodology, we use general philosophical-scientific methods (analysis, synthesis, scientific abstraction etc.) and, to a large extent, also methods of descriptive and inductive statistics. Specifically, we use correlation analysis to examine the direction and intensity of relationships, cluster analysis to examine the similarities of individual countries of the European Union in terms of perceived price and quality, as well as a one-way ANOVA test to verify hypotheses. Scale tools for measuring perceived quality, perceived price, and the degree of consumer ethnocentrism achieve a high degree of estimation of validity and reliability (estimated using McDonald's omega and Cronbach's alpha). The results indicate differences in the perception of price and quality of individual countries of origin of food. It can be assumed that the level of consumer ethnocentrism is below average in the conditions of Slovakia, and it has an impact on food evaluation only in the home country. The results can be used both for marketing and in the conditions of international trade, tourism, and in many other fields of theory and praxis. Implications for Central European audience: Knowledge of the perception of price and quality of individual countries is important for international trade and marketing. Knowledge of the perception of these two factors helps to create strategies for both domestic and foreign companies operating in Slovakia. In this article, we examine the perception of all countries in the European Union, which allows for comparison. Foods from certain countries perceived better quality and cheaper will be more in demand. Demonstrating the effectiveness of consumer ethnocentrism has an impact on the development of strategies by domestic companies and the government to create support for the purchase of domestic production.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46430468","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Optimization  of the Export Structure in Transport Companies: A Case Study","authors":"N. Shpak, Z. Dvulit, L. Maznyk, W. Sroka, A. Zaverbnyj, O. Levchenko","doi":"10.18267/j.cebr.312","DOIUrl":"https://doi.org/10.18267/j.cebr.312","url":null,"abstract":"","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43899849","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Corporate Liquidity in Coronacrisis: Experience of Serbian Economy","authors":"Srecko Dejvak","doi":"10.18267/j.cebr.311","DOIUrl":"https://doi.org/10.18267/j.cebr.311","url":null,"abstract":"The appearance of coronavirus in the spring of 2020 has significantly revalued risk exposures in the business environment, which required new approaches in the measurement of financial risks. This paper defines and explains a new approach to the measurement of liquidity risk in companies in a time of an economic crisis. This approach is more responsive to stressful circumstances in the business environment and measures the time in an economic crisis when a company can still pay maturing liabilities out of its own inventory of liquid assets, where sales of a company on the market are limited or completely prohibited, as this was the case for some industries during the first wave of Covid -19 in spring 2020. The objective of this paper was to define a new metric for the measurement of corporate liquidity, which is sensitive to this environment and shows the propensity of a company to the risk of illiquidity if an economic crisis appears. This paper, in the next step, leverages the newly defined metric of corporate liquidity and calculates the average liquidity of all companies, as well as the average liquidity by business sectors in the Serbian economy, to discuss corporate liquidity in a crisis. The results show that the average liquidity of the Serbian economy in crisis at the end of 3Q 2020 was 78,02 days, i.e., the average company in the Serbian economy was able to survive 78,02 days in stress by the end of 3Q 2020 if its sales on the market were prohibited. © 2023,Central European Business Review. All Rights Reserved.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43832192","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Travel Risk Perception in a Health Crisis Caused by the Covid-19 Virus: The Case of Serbia","authors":"Romina Alkier, Goran Perić, Sandra Dramićanin","doi":"10.18267/j.cebr.309","DOIUrl":"https://doi.org/10.18267/j.cebr.309","url":null,"abstract":"According to the duration of the health crisis caused by the COVID-19 virus, this study examines Serbian tourists' perception of risk (travel risk, destination risk, health and psychological risk, and financial risk) in two different periods of the crisis. The collection of primary data was performed using the questionnaire technique, and the research was conducted during May 2020 (363 respondents) and January 2021 (360 respondents). The research findings revealed that the perception of risk is higher in the first period of the health crisis compared to the second observed period, except for health and psychological risk (higher in the second period of the crisis). After observing both periods of health crisis and the examined control variables (gender, age, monthly income, level of education, travel intention, crisis period), the findings of linear hierarchical regressions indicate that the perception of travel risk and health and psychological risk is significantly influenced by education and travel intention, while the perception of destination risk and financial risk is influenced by travel intention. The results of the cluster analysis identified three characteristic clusters (\"carefree\", \"relaxed\", and \"concerned\") and a change in cluster composition during two periods of the COVID-19 crisis. The results of the study are discussed, the implications are stated, and the directions of further research are suggested. Implications for Central European audience: The study's findings contribute toward understanding the risk perception of travel in the period of health crisis caused by COVID-19 infection, which can help destination and marketing managers form strategies to reduce risk perception, which is crucial for the recovery of the national and global tourism industry. Also, organizers and tourist destinations since the recovery of tourism will depend on their ability to develop strategies to attract different segments of Serbian tourists in the crisis and postcrisis period.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42500763","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Agile or Traditional Project Organization: A Quantitative Assessment of Decision Criteria among Firms in the Dach Region","authors":"Nuria Magdalena Maier, Philipp Emmerich","doi":"10.18267/j.cebr.308","DOIUrl":"https://doi.org/10.18267/j.cebr.308","url":null,"abstract":"The so-called agile approach is increasingly popular in the world of project management as a response to more dynamic and competitive environments. This study follows the question: What are the decisive criteria that result in the use of agile process models in practice? Therefore, a broad range of decision criteria is investigated, representing different reasons for firms to decide in favour or against the usage of agile process models, namely: Time-saving, increased efficiency, availability of qualified personnel, uniform terminology, project comparability and functions as a knowledge base. Most existing research on agile project management is of qualitative nature; this study uses a quantitative approach to assessing 51 firms and nine different industries within the DACH region. The collected data was analysed in a binary logistic regression model. Results reveal that time-saving positively predicts the use of agile process models, while high ratings in function as a knowledge base and project comparability predict the absence of agile process models. Therefore, practitioners are suggested to educate project and portfolio managers in the creation of hybrid environments and integration of agile process models in traditional project portfolios. Implications for Central European audience : The results of this study provide valuable insights into the selection of project management approaches across different industries in the DACH region. industry and x 8 = firm size, are added to the model, with industry designed as a categorical variable with the dimensions IT and “Other”. The analysis was carried out with the Statistical Package for Social Sciences (SPSS Version 27). The Wald statistics and the p-values are considered to assess whether the suggested causalities result in significant correlations in the model. For this study, a p-value of p < 0.05 is considered significant. The Hosmer-Lemeshow test is applied to determine the overall quality of the model (goodness-of-fit), providing information to what degree the estimated model fits the data sample, dividing the observations into groups and comparing the predicted observations with the actual observations for each group. Based on this comparison, the Chi-square test is then carried out. The result showed significance (p<0.05), indicating that there is a significant deviation between the model and the data. The odds ratio (Exp(ß)) is considered to assess the effect strength of the respective predictor variables. The odds ratio gives the change in the probability of the event Y=1, if one independent variable is increased by one unit, given that all the other variables of the model are held constant. For negative odds ratios, the reciprocal value is calculated.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46946227","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Readability of Annual Reports on the Vienna Stock Exchange: A Test of Management Obfuscation Hypothesis","authors":"Bernhard Stellner","doi":"10.18267/j.cebr.307","DOIUrl":"https://doi.org/10.18267/j.cebr.307","url":null,"abstract":"This research examines the relation between annual report readability and company performance in a German-speaking country, Austria. The incomplete revelation hypothesis, management obfuscation hypothesis and agency theory assume that firms with lower performance strategically use readability in their disclosures to obfuscate negative results. For investors, reading, analysing, and interpreting data becomes a costly affair; this weakens the negative effect of such data on a firm’s reputation and share price. We use LIX and Flesch formulas to measure the readability of letters to the shareholders and/or interviews with the board in annual reports. The sample consists of 37 companies that are listed on the Prime Market of the Vienna Stock Exchange and their data from the year 2009 to 2020. Company performance is measured by the change in turnover, profit, and share price. The analysed sections mostly show high to very high levels of difficulty. During the observation period, readability levels do not change significantly. We find that the annual reports of firms with lower performance are not harder to read and, therefore, cannot confirm the management obfuscation hypothesis. A significant influence of change in profit/loss on readability is minutely observed. Possible reasons for this observation could be characteristics of the German language, statistical outliers, the long observation period, more professional investor relations offices, and changing communication channels between companies and stakeholders. The last point, changing communication channels, also puts the obfuscation hypothesis and its application to readability up for discussion again. Implications for Central European audience : Our study shows that also Central European countries are confronted with low levels of readability in annual reports. Nevertheless, we cannot see a clear tendency towards obfuscation in corporate disclosures. our on the","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43497160","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Sources of Value-Added in V4 automotive GVCs: The Case of Transport and Storage Services and Firm Level Technology Absorption","authors":"M. Minárik, Stanislav Zábojník, Janka Pásztorová","doi":"10.18267/j.cebr.301","DOIUrl":"https://doi.org/10.18267/j.cebr.301","url":null,"abstract":"Within V4 automotive Global Value Chains (GVCs), technologies absorbed by the corporate sector represent a significant impact on the level of value-added created within the economy. Sectoral and geographic targeting of our research is determined by the export of motor vehicles, trailers, and semi-trailers produced in the V4 countries. The article’s main objective was to investigate the role of services provided by V4 countries within GVCs with an emphasis on transport and storage. The authors used the method of linear regression analysis to answer two central research questions. Is there a synergic or spillover effect within the automotive clusters of the V4 countries in creating value-added originating in the logistic services? What role absorption of technology at the firm level in EU27 countries (the most important trading partners of the V4 countries) plays in creating value-added in the V4 automotive sector? Authors found differentiated results within V4 countries, confirming the hypothesis related to technology absorption. Implications for Central European audience: Despite high V4 export performance, the research suggests how to increase the value-added through higher involvement within GVCs (particularly the automotive industry). The paper demonstrates a positive impact of importing transport services from the EU countries to some V4 countries (Slovakia, Czechia, and Poland) and its value-added content in gross exports. For any V4 country, an increase in the quality of the business environment of EU trade partners (measured as the corporate level of technology absorption) results in a lower value-added creation, quite significantly, with lower effect in the case of Czechia, but more than 15% decrease in case of Poland, Hungary, and Slovakia.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42812249","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Predicting Determinants of Use Mobile Commerce through Modelling Non-Linear Relationships","authors":"H. Abdullah, Krar Muhsin Thajil, Alhamzah Alnoor, Hadi Al‐Abrrow, K. W. Khaw, Xinying Chew, Abdullah Mohammed Sadaa","doi":"10.18267/j.cebr.306","DOIUrl":"https://doi.org/10.18267/j.cebr.306","url":null,"abstract":"This study aims to predict and assess the antecedents of use social commerce using dualstage structural equation modelling and artificial neural network analysis. This study sheds light on the role of perceived risks in developing the relationship of each of the social bonds and the social network on the convenience of adopting wearable payment. The interactive role of barriers of using the wearable payment for the relationship convenience of adopting wearable payment and intention to use social commerce was also explored. Finally, this study highlighted the effect of the mediating variable of the convenience of adopting wearable payment. The survey was adopted by surveying 334 people with an online shopping experience. The results confirmed the role of interactive variables, perceived risk, and barriers of using wearable payment in increasing intention to use social commerce. On the other hand, the convenience of wearable payment adoption has fully mediated the relationship between social bonds, social network theories and intention to use social commerce. Implications for Central European audience: The findings of this study contribute to providing academics and practitioners with a deep insight into the antecedents of social commerce to develop practices and policies that increase intentions to use social commerce.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45113334","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}