E & M Ekonomie a Management最新文献

{"title":"The role of executive characteristics in their evaluation of financial conditions of European SMEs","authors":"A. Ključnikov, M. Civelek, Lukáš Durda, V. Fialova, Andrea Folvarčná","doi":"10.15240/tul/001/2023-2-005","DOIUrl":"https://doi.org/10.15240/tul/001/2023-2-005","url":null,"abstract":"The majority of SMEs (small and medium-sized enterprises) have a lower amount of financial assets and earnings compared to their larger counterparts. Therefore, their probability of encountering financial troubles is greater. However, the obstacles they face and perceive might differ depending on their executives’ characteristics. In this regard, this research targets to indicate similarities or differences in the perception of financial conditions by companies’ executives who are of various gender, age, and educational status. Moreover, this paper analyzes SMEs from different countries. By doing so, this research also aims to examine international differences in executives’ characteristics and their perceptions of financial conditions. In line with those targets, the researchers create an internet-mediated questionnaire and direct it to the randomly selected respondents who are owners or executives of 1,156 Czech, Slovakian and Hungarian firms. The researchers also use independent samples T-test and ANOVA tests for analysis purposes. According to the results, while the educational status of executives does not play a determining role in the perceptions of financial issues in all research samples, the perceptions of financial conditions differ depending on Hungarian executives’ gender. Moreover, there are significant differences in the perceptions of older and younger Czech executives regarding the financial performance of their companies. Although some studies investigate firms’ or executives’ resource-based view characteristics, they are limited in investigating a single relationship and a research sample (firm characteristics and bankruptcy of a country’s SMEs, etc.). Since this paper sets and investigates differences in various executive-level characteristics and financial issues of different countries’ SMEs, it might draw prospective readers’ attentions, who might be firm executives, policymakers, financing institutions, and academicians. Moreover, comparing various samples from different countries’ SMEs in analyzed relationships is another crucial value addition that this research creates when filling the literature gap.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"134 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75321468","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The effects of private sector companies’ research and development investments on the adoption of cloud computing services in the European Union","authors":"Liviu Toader, D. Paraschiv, Vasile Dinu, D. Manea, M. Mihai","doi":"10.15240/tul/001/2023-2-012","DOIUrl":"https://doi.org/10.15240/tul/001/2023-2-012","url":null,"abstract":"As European economies rely more and more on know-how and technology, the importance of investment in research and development, especially from the private sector, is increasing. Private investment in research and development leads to innovation and the creation of know-how and technologies that can increase productivity, competitiveness and contribute to economic growth. Private investment in research and development is particularly important in dynamic sectors with high added value, such as the IT&C sector. Cloud computing is one of the most popular IT&C technologies in recent years, particularly because it bridges the gap between large and small and medium-sized companies in terms of IT&C infrastructure investment needs. Due to cloud computing, small companies can benefit from the same technology and infrastructure as the bigger ones, but at lower costs, without having to make large-scale investments in IT&C infrastructure elements such as: computing power, networks, data storage, specialized software products, etc. This paper analyzes the link between the intensity of investments in research and development (R&D), calculated as the share of research and development expenses made by companies in the business environment (business enterprise sector) in GDP or as a percentage of total research and development expenses, in relation to the adoption of cloud computing technology within companies in the Member States of the European Union. The research results indicate a direct and moderate relationship between the intensity of private R&D spending and the adoption of cloud computing technologies among companies in the Member States. This result can be attributed to both the increase in the overall digitization of the countries most active in terms of private R&D investment, as well as the need for affordable and strong IT&C infrastructure to maximize future returns and drive economic growth.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"44 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74161348","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Investors’ reactions on the publication of integrated reports. Evidence from European stock markets","authors":"Bianca Raluca Bădițoiu, R. Ioan, Valentin Partenie Munteanu, Alexandru Buglea","doi":"10.15240/tul/001/2023-2-010","DOIUrl":"https://doi.org/10.15240/tul/001/2023-2-010","url":null,"abstract":"The last decades brought to stock market investors’ attention several key issues regarding companies’ activity, besides the financial statements. These issues, such as environmental, social, or corporate governance policies are nowadays included in integrated reports issued by many listed companies worldwide. Although these topics seem to currently attract a high interest in the media, our study’s aim is to determine whether the listed firms’ release of Integrated Reports has any bearing on the issuers’ performance on the capital market as assessed by market value, return, and risk. In this respect, we analysed three different stock market time series’ reactions – daily close prices, daily logarithmic returns, and risk measured by the Expected Shortfall – to the publication of integrated reports, for a sample of 48 companies, listed on various European stock markets. In order to identify any sudden changes in the analysed time series behaviour, immediately after the publication date, we used the Bai-Perron multiple structural breaks test. Our results show that no consistent, significant reactions occur within the analysed time series immediately after the publication of integrated reports, but only isolated, circumstantial reactions seem to appear. Moreover, it seems that the markets show common significant reactions to certain events, marked by major structural breaks, but none of these events could be related to the publication of integrated reports. Within this context, our paper manages to prove that although it currently constitutes a hot topic worldwide, integrated reporting is not a key feature in the investors’ short-term decisionmaking process.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"74 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75134945","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The effect of psychological contract, employer branding and job satisfaction on turnover intention: Organizational commitment as moderating variable at start-up IT company","authors":"Ahmad Azmy, I. Wiadi, Handy Risza","doi":"10.15240/tul/001/2023-2-006","DOIUrl":"https://doi.org/10.15240/tul/001/2023-2-006","url":null,"abstract":"IT-startup is an organization that starts a business in the technology field. The problem that is often faced is high-turnover. The reality of business processes takes a long time to develop into large companies. One of the potential factors in business success is human resources. The present study analyzes the direct and indirect effects of the psychological contract, employer branding, and job environment on turnover intention in IT start-up companies. Organizational commitment was employed as the moderating variable. The study was conducted in several IT start-up companies in Jakarta, focusing on four business fields: educational technology, IT consulting, software and hardware, and IT infrastructure. Respondents were 182 employees of IT start-up companies, recruited using a purposive sampling technique. Applying Partial Least Square, this study found that psychological contract, employer branding, and job environment, directly and indirectly, affect turnover intention. Organizational commitment was found to have the most significant direct effect on turnover intention. Meanwhile, employer branding exhibited the most significant indirect effect on turnover intention. IT start-ups need to strengthen their psychological contracts, employer branding, and job environment to reduce high turnover. IT start-ups must provide a conducive job environment to support employee work processes. This strengthens the psychological aspect of employees to stay afloat in the long term. A sense of loyalty, high commitment, and professionalism must be instilled in all employees as part of efforts to strengthen the psychological contract. The business success of an IT start-up becomes a good branding employer so that it is able to recruit potential human resources candidates. IT start-up companies need to strengthen their psychological contract, employer branding, and job environment in order to minimize turnover intention. Employees are a long-term investment for a company’s business sustainability, and their ideas, creativities, and innovation are pivotal for the company.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"30 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78773847","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"SUSTAINABLE BANKING, FINANCIAL STRENGTH AND THE BANK LENDING CHANNEL OF MONETARY POLICY","authors":"María Cantero-Sáiz, Begoña Torre-Olmo, Sergio Sanfilippo-Azofra","doi":"10.15240/tul/001/2023-1-010","DOIUrl":"https://doi.org/10.15240/tul/001/2023-1-010","url":null,"abstract":"The aim of this article is to analyse how sustainable banking affects the transmission of monetary policy through the bank lending channel. We also quantify how these effects are determined by the financial strength of each bank. These objectives, which have not been studied previously, represent an important contribution because real sustainable concerns in banking did not emerged until recently, mainly with the adoption of the Sustainable Development Goals that should be reached by 2030. Since then, some studies have focused on the effects of sustainability on aspects such as bank profitability, risk or efficiency, but none has considered the effects on the bank lending channel of monetary policy. In fact, central banks have incorporated sustainability criteria into their agenda and are analyzing how to include these criteria in the monetary policy framework, so we contribute even more by shedding some light on these aspects and how they depend on the financial strength of the banking sector. We used quarterly data from 79 listed banks from the OECD between 2016 and 2019 (947 observations) and we found that the bank lending channel is operative either for banks with very low sustainability ratings or a weak financial position. When sustainability ratings increase and financial strength becomes moderate, the bank lending channel is ineffective and monetary shocks do not affect lending. For banks with certain sustainable compromises and a strong financial position, the impact of monetary shocks on lending is the opposite of the one that the bank lending channel proposes, and this impact is more intense as sustainability ratings increase. Finally, our results also show that increases in central bank assets boost lending only for banks with low or moderate sustainability ratings, regardless of their financial strength. Overall, these results suggest that more sustainable banks are less dependent on monetary policy decisions.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"14 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73917806","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"EXPLORING FORMER & MODERN VIEWS: A CATCH-ALL TO ASSISTIVE TECHNOLOGY APPLICATIONS","authors":"Ales Berger","doi":"10.15240/tul/001/2023-1-012","DOIUrl":"https://doi.org/10.15240/tul/001/2023-1-012","url":null,"abstract":"In life, everyone faces personalized conditions such as ageing, disease, and impairments in hearing, vision, or mobility. In addition, some individuals are born with disabilities that can limit their participation in various areas of life, including work, education, and daily activities. Assistive technology (AT) is a field that aims to provide tools and resources to facilitate the needs of individuals with disabilities or impairments. This article reviews the latest advances in AT, focusing on using Internet of Things (IoT) technologies to provide innovative solutions. The article discusses the deployment of assistive devices in various areas, such as building access, information access, and work and education participation. The goal of this research is to highlight the potential of AT to improve the lives of individuals with disabilities and to provide an overview of the current state of the field. The article also discusses the use of IoT-based solutions in assistive technology and identifies promising areas for future development and deployment. By providing a comprehensive review of the latest advancements in AT, this research aims to contribute to the ongoing efforts to enhance functional capacities and improve the quality of life for individuals with disabilities.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"101 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77354118","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"STRUCTURAL CHANGE AND GROWTH PROSPECTS IN THE TURKISH ECONOMY: A DEMAND-SIDE DECOMPOSITION ANALYSIS","authors":"Ş. Nas, Moalla Maya, Ismail Tuncer","doi":"10.15240/tul/001/2023-1-002","DOIUrl":"https://doi.org/10.15240/tul/001/2023-1-002","url":null,"abstract":"Over the past four decades, Turkey has undertaken a wide range of reforms that aim at the liberalisation of foreign trade, relaxation of the tariff system, deregulation of the financial system, and foreign investment regulations. Significant structural change experienced in the Turkish economy pursues access to the global market. This paper presents an empirical investigation of the growth prospects in both the Turkish economy and manufacturing industry during the whole period from 1995 to 2015 and the sub-periods of 1995–2001, 2001–2008, 2008–2015 and 1995–2015. Since investigating the dynamics of economic growth from the supply-side has been well documented in the literature, this work contributes to the literature on the sources of economic growth by providing a more up-to-date analysis from a demand-side perspective in the case of the Turkish economy. We make use of Chenery’s factor decomposition method that decomposes output growth into the growth of domestic demand, import-substitution, growth of export and intermediate demand. Conclusions revealed that the total output evolution of the whole economy and the manufacturing industry was mainly responsive to final domestic demand during the whole period of 1995–2015 and the sub-periods of 1995–2001, 2002–2008 and, 2008–2015. However, the nexus between the final domestic demand and the output evolution tended to weaken during the period from 2001 to 2008, but recovery took place again in the following periods. Moreover, the output growth that stemmed from export expansion was more prevailing in the manufacturing industry. To these ends, policies aimed at increasing income, demand, product diversity and reducing poverty should be applied to encourage the deepening of domestic demand. Furthermore, selective micro policies of industrial and technological upgrading and diversification should be applied to sustain output and export growth and, create a more resilient economy to external shocks","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"35 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77649227","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"FACTORS OF GENDER PAY GAP IN THE HIGHEST WAGES OF EMPLOYEES IN THE SLOVAK REPUBLIC","authors":"V. Pacáková, V. Labudová, Ľ. Sipková","doi":"10.15240/tul/001/2022-4-002","DOIUrl":"https://doi.org/10.15240/tul/001/2022-4-002","url":null,"abstract":"The article contains the results of empirical analysis of data on one percent of employees with the highest salaries in the Slovak Republic in 2020. The starting point for the analysis there is 11,570 anonymized individual values of average gross monthly wage and also personal data of the employees whose wage exceeded the 99th percentile of the sample survey The Informational System on Labour Costs, implemented in the Slovak Republic since 1992 by the company Trexima Bratislava. The aim of the article is to assess the gender pay gap for the best-earning men and women and assess the significance of the impact of selected factors that contribute it. Given the availability of data the monitored factors of the gender pay gap there are education, region of residence, the type of occupation, and the categorized age of employees. To achieve the objective, selected quantitative methods were used, namely methods of descriptive statistics and statistical inference, as goodness-of-fit tests, chi-squared tests of independence and machine learning methods, as normalized Shannon entropy and regression decision tree models. The results of analyses by these methods have been preferably presented in a graphical form. Based on the application of the above methods the significant wage differences by gender at the highest wages (over the 99th percentile of the sample) and significant impact of monitored factors has been confirmed not only on the gender pay gap, but also on the structure of their employment. The results of the analyses lead to the conclusion that the significant wage differences by gender at the highest wages are caused precisely by unequal representation of men and women on the different levels of the monitored factors. The obtained results are partially compared with the results of a similar analysis based on data from 2010 (Pacáková et al., 2012).","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"108 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79439983","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"EXAMINING TREKKERS’ ENVIRONMENTALLY FRIENDLY BEHAVIOR USING AN EXTENDED MODEL OF GOAL-DIRECTED BEHAVIOR (MGB) AND A NEW ECOLOGICAL PARADIGM SCALE (NEP)","authors":"P. Tulsi, W. Li, Y. Kim","doi":"10.15240/tul/001/2022-4-009","DOIUrl":"https://doi.org/10.15240/tul/001/2022-4-009","url":null,"abstract":"Tourism has a substantial environmental impact, and nature-based tourism is particularly vulnerable to tourists’ activities. Individuals must be aware of the consequential ecological effects during nature-based tourism activities such as trekking. Trekking is a widespread nature-based tourism activity in fragile mountainous and hilly regions. The trekkers’ activities extensively affect the conservation of vegetation along the trail. Therefore, it is essential to study trekkers’ attitudes, intentions, and behavior towards the environment. The objective of this study is to investigate the pro-environmental behaviors of trekkers. The goal-directed behavior (MGB) model framework and a new ecological paradigm scale (NEP) were integrated to examine trekkers’ environmental decision-making process. The new ecological paradigm (NEP) scale measured trekkers’ environmental concerns, whereas the model of goal-directed behavior (MGB) explored environmentally friendly trekking intentions. The extended model analyzed 310 responses from trekkers who had trekking experience in Nepal. Statistical analyses, such as confirmatory factor analysis, descriptive analysis, reliability, and validity test, were performed with SPSS 24.0. Furthermore, structural equation modeling was conducted using AMOS 22.0 to test the significance of the developed hypotheses. This study revealed that trekkers are concerned about the environment and are aware of the earth’s resource limitations. Moreover, the significant role of emotion in the decision-making process was identified. The perceived behavioral control influenced both the desire and intention of environmentally friendly trekking. Additionally, desire significantly influenced the intention to perform environmentally friendly activities. However, the trekker’s attitude and subjective norms did not correlate substantially with desire. The obtained results indicate that the proposed extended model helps to understand the environmental behavior of trekkers. The theoretical and practical implications of this study are also discussed.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"1 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75326739","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"NFLATION PERSISTENCE AND UNIT ROOT TESTS IN THE EURO AREA COUNTRIES","authors":"Vyrostková Lenka, Mirdala Rajmund","doi":"10.15240/tul/001/2022-4-001","DOIUrl":"https://doi.org/10.15240/tul/001/2022-4-001","url":null,"abstract":"Persistence is one of the main characteristics of inflation. One of the definitions of persistent inflation is, that it is the rate at which inflation reaches equilibrium after a certain macroeconomic shock. If the inflation persistence is high, the response to inflation shocks is long-lasting and difficult for the central bank to control. Conversely, if the country’s inflation persistence is low, the central bank can keep the inflation rate in line with the inflation target. The recent economic crisis made central banks adopt several unconventional monetary policy instruments to boost economic recovery and preserve price stability. Many authors note that data on stationary inflation in the euro area countries is a precondition for joining the European Union. As far as the functioning of the European Union is concerned, it is desirable to take the necessary decisions. The primary objective of the paper is to test the inflation rate data in the euro area countries to verify the existence of a unit root considering that central banks design their monetary policy frameworks under the assumption that inflation is a stationary process. The verification of the stationarity of the inflation data is divided into two sections. In the first section, the monthly data panel of the Harmonised Index of Consumer Prices (HICP) for euro-zone countries is used. The second section uses a panel of monthly data the Harmonised Index of Consumer Prices for each category of Classification of Individual Consumption by Purpose for euro area countries. Our results indicate that time series for inflation in 11 of 19 euro area member countries are non-stationary and have a unit root. Considering our results we propose the creation of a two-speed euro area and the adjustment of the monetary policy framework in the euro area countries.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"22 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78484787","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}