LIMEN 2023 / 9 – Leadership, Innovation, Management and Economics:
Integrated Politics of Research - SELECTED PAPERS
LIMEN 2023 / 9 – Leadership, Innovation, Management and Economics:
Integrated Politics of Research - SELECTED PAPERS
Contributor(s): Vuk Bevanda (Editor)
Subject(s): Social Sciences, Economy
ISSN: 2683-6149
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Leadership; Innovation; Management; Economics
Summary/Abstract: Organizing is an evolutionary phenomenon, distinctive because of the laws of existence and maintaining all structures in all processes of their functioning. As such, it is a civilizational phenomenon that occurs as a component of human, individual, and social activities and as a factor in the overall development of man and society. On the other hand, as a deliberate human activity, organizing involves seeking solutions to problems that occur on the way to achieving specific goals. No goal can be achieved without appropriate or necessary, or at least minimal organization of conditions, factors, and processes needed for goal achievement. However, the new era requires new types of leaders and managers and new forms of organization; demands those who are willing and able to lead the company/corporation/state, in a distinct competitive environment, with all the good and bad sides brought by the globalization of world economy. The purpose of the annual LIMEN conference is to support the power of scientific research and dissemination of the research results with the objective to enhance society by advancing knowledge; policy-making change, lives, and ultimately, the world. Our objective is to continue to be the foremost annual conference on cutting-edge theory and practice of leadership, innovations, management, and economics, encouraging advancement via excellence, and interaction. LIMEN conference aims to bring together the international academic community (experts, scientists, engineers, researchers, students, and others) and enable interactive discussions and other forms of interpersonal exchange of experiences and popularization of science and personal and collective affirmation. The annual LIMEN conference is committed to the highest standards of publishing integrity and academic honesty ensuring ethics in all its publications. Conformance to standards of ethical behavior is therefore expected of all parties involved: authors, editors, reviewers, and the publisher. The conference organizer follows the Committee on Publication Ethics (COPE) guidelines on how to deal with potential acts of misconduct. All received full papers prior peer review process are subject to plagiarism check with iThenticate by Turnitin software. Any identified plagiarism automatically disqualifies a paper. Afterward, all full papers are double-blind peer-reviewed by the reviewers drawn from the editorial committee or external reviewers depending on the topic, title, and subject matter of the paper. Peer reviewers provide a critical assessment of the paper and may recommend improvements. Although the author may choose not to take this advice, we highly recommend that the author address any issues, explaining why their research process or conclusions are correct. Association of Economists and Managers of the Balkans headquartered in Belgrade – Serbia in cooperation with the Institute of Business Economics and Industrial Sociology of the Faculty of Mechanical Engineering & Economics Sciences at Graz University of Technology headquartered in Graz – Austria; along with the partner institutions, namely the Center for Advanced Studies in Management and Economics (CEFAGE-UE), Institute for Advanced Studies and Research, University of Evora, Portugal; Department of Law, Economics and Sociology, University of Magna Graecia, Catanzaro, Italy; Faculty of Economics, University of South Bohemia, České Budějovice, Czech Republic; Rio de Janeiro Institute College (Faculdade Instituto Rio de Janeiro – FIURJ), Rio de Janeiro, Brazil, and the European Professors of Industrial Engineering and Management (EPIEM) organized 9th International Scientific-Business Conference titled: Leadership, Innovation, Management, and Economics: Integrated Politics of Research – LIMEN 2023 on December 7, 2023 at the Graz University of Technology, Graz, Austria in a hybrid format (in-person, online and virtually). LIMEN 2023 conference addresses various contemporary business and economic challenges. The evolution of implicit leadership theories is explored, highlighting shifts in understanding leadership. AI-driven HR practices in SMEs, the application of large language models in recruitment, and the integration of crowdsourcing with intellectual capital for enterprise renewal are examined for their innovative potential. The impact of management styles on employee well-being, the relationship between innovation and competitive advantage, and eco-innovation in Albania’s accommodation sector are analyzed for their implications on business strategy and sustainability. The digital transformation of retail, AR/VR in marketing, and content marketing’s role in consumer loyalty are also discussed, alongside the ethical concerns of greenwashing in marketing communication. Other studies investigate the sustainability index in corporate performance, the resilience of eco-metals, mobile banking acceptance in Austria and Romania, and the role of standards and patents in Western Balkan economic growth. Income inequalities in Greece’s post-COVID tourism industry and logistics in unstable markets are assessed for their broader economic impacts, etc. The keynote speaker at the LIMEN 2023 conference was Professor Sandra Lovrenčić, Full Professor, Head of the Department of Theoretical and Applied Foundations of Information Sciences, Head of Centre for Volunteering and Humanitarian Work, University of Zagreb Faculty of Organization and Informatics, Varaždin, Croatia with the topic “Artificial Intelligence and (Knowledge) Management”.
Series: LIMEN - International Scientific Business Conference
- Print-ISBN-13: 978-86-80194-79-0
- Page Count: 203
- Publication Year: 2023
- Language: English
Evolution of the Concept of Implicit Leadership Theories: A Literature Review
Evolution of the Concept of Implicit Leadership Theories: A Literature Review
(Evolution of the Concept of Implicit Leadership Theories: A Literature Review)
- Author(s):Christopher Danis, Anna Lašakova
- Language:English
- Subject(s):Social Sciences
- Page Range:1-11
- No. of Pages:12
- Keywords:Leadership; Implicit; Theories; Culturally endorsed; Globe project
- Summary/Abstract:This paper synthesizes existing research on implicit leadership theories (ILTs) — individuals’ unconscious cognitive frameworks or mental models that shape their perceptions, expectations, and evaluations of effective leadership. Based on a thorough search and examination of the works on ILTs included in the Scopus database (n = 102), the authors explore the development, evolution, and contextual influences on ILTs, including the culturally endorsed ILTs stream of research (e.g., Globe project), and offer a comprehensive understanding of ILTs and their implications for perceived leadership effectiveness.
Artificial Intelligence-Driven HR Practices in SMEs: A Prisma-Compliant Scoping Literature Review
Artificial Intelligence-Driven HR Practices in SMEs: A Prisma-Compliant Scoping Literature Review
(Artificial Intelligence-Driven HR Practices in SMEs: A Prisma-Compliant Scoping Literature Review)
- Author(s):Ljupcho Etfimov, Bojan Kitanovikj
- Language:English
- Subject(s):Social Sciences
- Page Range:13-20
- No. of Pages:8
- Keywords:Human resource management; Artificial intelligence; Small and medium-sized enterprises; Scoping literature review
- Summary/Abstract:Artificial intelligence (AI) is rapidly reshaping human resource management (HRM) practices, extending its reach even to small and medium-sized enterprises (SMEs). Despite the prevalence of AI in HRM, its integration into the practices of SMEs, traditionally characterized by limited HR resources, remains an understudied area in scientific literature. A knowledge gap was identified through a Scopus database search, revealing a lack of comprehensive exploration into emerging trends related to AI’s impact on hiring, skill assessment, bias mitigation, and time constraints in SMEs. This study aims to address this gap by conducting a methodical analysis and synthesis of existing scientific contributions on the adoption of AI in SMEs for HR purposes. Employing a rigorous scoping literature review grounded in the PRISMA protocol, the investigation focuses on peer-reviewed publications in English, indexed in the Scopus database. The findings, encompass¬ing emerging publications, authors, key concepts, and avenues for future research, offer valuable insights for HR professionals, entrepreneurs, and the scientific community. This study not only contributes to the understanding of AI’s impact on grassroots HR processes in small organizations but also provides practical guidance and recommendations for optimization and enhancement.
Application of LLMs for Solving Algorithm Coding Tests in Recruitment
Application of LLMs for Solving Algorithm Coding Tests in Recruitment
(Application of LLMs for Solving Algorithm Coding Tests in Recruitment)
- Author(s):Miloš Živadinović
- Language:English
- Subject(s):Social Sciences
- Page Range:21-27
- No. of Pages:8
- Keywords:LLM; Algorithm coding tests; Recruitment
- Summary/Abstract:Usage of programming interview questions which consist of coding is one of the most common approaches when hiring new candidates. Candidates should possess a variety of skills and knowledge in order to solve these assignments properly within the time and memory constraints in order to pass the examinations. With the advent of LLM (Large Language Models) architectures such as ChatGPT, we are able to prove that the most common interview questions are trivial as a measure of knowledge. By comparing a dataset of common programming interview questions with answers generated by ChatGPT, we have shown significant results in favor of ChatGPT as a solution for solving programming interview questions with an acceptance rate of 96.58% which is 46.45% higher than the average. We conclude from these results that the existing practice of programming interview questions is flawed and that significant changes should be made to render it relevant or to abandon it completely in candidate testing.
An Integrative Model of Crowdsourcing and Intellectual Capital on Effective Enterprise Renewal
An Integrative Model of Crowdsourcing and Intellectual Capital on Effective Enterprise Renewal
(An Integrative Model of Crowdsourcing and Intellectual Capital on Effective Enterprise Renewal)
- Author(s):Matea Zlatković Radaković
- Language:English
- Subject(s):Social Sciences
- Page Range:29-38
- No. of Pages:10
- Keywords:Crowdsourcing; Intellectual capital; Enterprise renewal
- Summary/Abstract:Faced with a changing business environment and increasing competition, enterprises have started looking for innovative solutions beyond hierarch organizational boundaries. The community of crowds can be employed as a valuable factor in an enterprise’s innovation process to create value and upgrade its knowledge base. The present paper seeks to understand the role of the crowdsourcing mechanism through the intellectual capital framework, resulting in a renewed knowledge base. The model was empirically tested using a data set obtained through a questionnaire fulfilled by representatives of enterprises in the Republic of Srpska, Bosnia and Herzegovina, using partial least squares structural equation modelling. The findings reveal that crowdsourcing causes significant linkages between intellectual capital dimensions among which crowdsourcing-human capital and crowdsourcing-structural capital contribute more to enterprise renewal of knowledge base. Research results could assist managers in strategic decisions in resource allocation in promoting and sustaining knowledge dissemination to increase the renewal capability of enterprises.
Creating an Effective Working Environment in the Post-pandemic Period
Creating an Effective Working Environment in the Post-pandemic Period
(Creating an Effective Working Environment in the Post-pandemic Period)
- Author(s):Žikica Milošević, Ivana Katiić, Andrea Ivanisevic, Danijela Ćirić Lalić
- Language:English
- Subject(s):Social Sciences
- Page Range:39-47
- No. of Pages:10
- Keywords:Remote work; Pandemic; Efficiency; Digitization; Work environment; Post-pandemic period; Motivation; Flexible
- Summary/Abstract:The paper recommends creating a “hybrid” model in which remote workers can come to the office attend meetings or come to the workplace at regular intervals. It is recommended to work in the office on specific days to achieve optimal balance. Finally, the paper argues that the future lies in hybrid and flexible work environments, which in most cases are neither fully remote nor fully “on-site”. However, priority is given to both manual and service work. Nevertheless, when it comes to non-manual jobs and the creative industries, there is no one-size-fits-all solution. The tailor-made approach for each employee can lead to the hoped-for increase in work performance through the formation of teams that would have flexible work routines so that each employee can maximize their results and utilize the best-suited environment, which will ultimately benefit the company and its profit.
How Does Management Style Affect Employee Well-Being within Large Enterprises? The Case of Albania
How Does Management Style Affect Employee Well-Being within Large Enterprises? The Case of Albania
(How Does Management Style Affect Employee Well-Being within Large Enterprises? The Case of Albania)
- Author(s):Gentjan Shaqiri
- Language:English
- Subject(s):Social Sciences
- Page Range:49-57
- No. of Pages:10
- Keywords:Management style; Leadership; Enterprise culture
- Summary/Abstract:Employee well-being and a positive workplace culture consist of employees who enjoy and are passionate about their work. It includes employees who show interpersonal and professional pride in the services they provide to their customers and clients, who interact with co-workers collaboratively and collegially, and who enthusiastically engage in healthy workplace relationships. This highly desirable employee behavior within enterprises is not easily attainable. As a result, this paper investigates and investigates how management style impacts employee well-being in the Albanian business environment. Based on semi-structured interviews with high and middle management of large enterprises in Albania, this paper examines how adherence to international standards to tackle workplace stress affects employee well-being and the degree of nurturing enterprise culture. A comparison is made between locally-owned and foreign-owned enterprises. This paper concludes that managers who can distinguish between a certain healthy amount of employee competition and more destructive ones that affect both a single employee, the department, and ultimately the enterprise are the ones possessing more leadership qualities and capable of continuously cultivating the highest degree of employee well-being in their enterprises.
The Relationship between Innovation and Competitive Advantage: A Literature Review
The Relationship between Innovation and Competitive Advantage: A Literature Review
(The Relationship between Innovation and Competitive Advantage: A Literature Review)
- Author(s):Denada Lica, Silvana Gashi
- Language:English
- Subject(s):Social Sciences
- Page Range:59-68
- No. of Pages:10
- Keywords:Innovation; Competitive advantage; Albanian firms
- Summary/Abstract:Innovation has been considered by many scholars a crucial factor in driving firms to achieve competitive advantage. Moreover, many firms decide to reconfigure their business operation to be more innovative and competitive. This paper aims to analyze the drivers and challenges firms deal with to be more innovative and to achieve competitive advantage. Albanian firms are investigated through a literature review to offer some insights regarding the relationship between innovation and competitive advantage, and to understand the drivers and challenges of being innovative firms. Results indicate that innovative Albanian firms are more likely to achieve competitive advantage than others that do not engage in innovation. This study contributes considerably to enlarging the literature on innovation and competitive advantage.
Eco-Innovation in the Accommodation Sector in Albania
Eco-Innovation in the Accommodation Sector in Albania
(Eco-Innovation in the Accommodation Sector in Albania)
- Author(s):Shyquri Llaci, Blanka Hhani
- Language:English
- Subject(s):Social Sciences
- Page Range:69-78
- No. of Pages:10
- Keywords:Eco-Innovation; Accommodation sector; External and internal barriers; Drivers’ factors eco-innovation
- Summary/Abstract:Limited research examines eco-innovation in developing nations, especially when it comes to a country like Albania. Therefore, in order to close this gap, the purpose of this paper is to analyze the barriers and driver factors to eco-innovation in the accommodation sector in Albania. It was conducting a qualitative-method approach, with a multiple-case study of six big hotels in Albania. The authors for data collection in this study used an in-depth interview with the managers, and the main research question was “What are the drivers’ factors and barriers of eco-innovation in the accommodation sector in Albania? The interview includes both closed- and open-ended questions: the interview begins with closed-ended questions, which were used to give an overall orientation to the respondents, and after open-ended questions to offer them an opportunity to elaborate on their response and to see things from their perspective of view. Despite the eco-innovation advantages, the Albanian hospitality industry has not yet adopted them widely due to several internal and external barriers. The internal barriers are identified as lack of awareness and education for the potential benefits of eco-innovation, cost constraints because implementing eco-friendly practices and technologies often requires an initial investment that some businesses may find challenging, limited technical expertise as hotels may need the technical expertise to implement eco-innovations effectively. Regulatory challenges in Albania as a candidate country for the European Union can be seen as an external barrier because the legal system exists, but the executive system doesn’t work properly in the actions of environmental laws. But also, it can be seen as an incentive to shorten the time of adaptation of environmental laws because the influence of EU regulations might result in strengthened environmental protection measures in Albania. This could include improvements in waste management, energy efficiency, and other eco-friendly practices. Another external barrier is infrastructure limitations, and access to financing as many accommodation providers, especially smaller ones, may struggle to secure financing for eco-innovation projects. Access to loans or grants for sustainable initiatives can be limited or the a lack of incentives from the Albanian government to be green, such as fiscal incentives for companies that have a higher approach to eco-innovation. As a result, by highlighting the impact of eco-innovation practices on the relationship between the drivers of eco-innovation and the performance of hospitality companies, this research contributes to the repository of knowledge related to hospitality management and eco-innovation. Additionally, the authors have identified the main barriers to greater adoption of eco-innovation techniques in products and processes and addressed the primary concerns with the relevant stakeholders.
Strategic Approaches to Enhancing Business Communication Efficiency in the Era of Digital Transformation
Strategic Approaches to Enhancing Business Communication Efficiency in the Era of Digital Transformation
(Strategic Approaches to Enhancing Business Communication Efficiency in the Era of Digital Transformation)
- Author(s):Mirjana Tankosić, Ivana Ercegovac
- Language:English
- Subject(s):Social Sciences
- Page Range:79-87
- No. of Pages:10
- Keywords:Business communication; Digital transformation; Communication strategies; Technology; Electronic Data Interchange (EDI)
- Summary/Abstract:This paper presents a thorough analysis of strategic approaches designed to enhance business communication efficiency in the modern digital business landscape. Focused on tools like Electronic Data Interchange (EDI), the study aims to identify successful communication strategies adaptable to evolving technology, client needs, and market expectations. The research delves into practical approaches and innovations, offering diligent exploration to guide organizations in optimizing communication processes amid current challenges. Also, the paper highlights the significance of feedback in achieving communication efficiency and conducts an additional analysis of the ethical implications of employing new technologies in business communication. Concrete guidelines are provided for organizations to integrate effective communication strategies, explore opportunities to enhance efficiency, customer satisfaction, and achieve business goals. This comprehensive analysis aims to deepen understanding of contemporary challenges in business communication and provide guidance for successful management in a dynamic business environment.
The Digital Transformation of the Retail Business: Focusing on the Online Shopping of Clothing by Consumers in the European Union
The Digital Transformation of the Retail Business: Focusing on the Online Shopping of Clothing by Consumers in the European Union
(The Digital Transformation of the Retail Business: Focusing on the Online Shopping of Clothing by Consumers in the European Union)
- Author(s):Simeonka Petrova
- Language:English
- Subject(s):Social Sciences
- Page Range:89-99
- No. of Pages:12
- Keywords:Online shopping; Digital transformation; Retail business; European consumers; Online clothing purchases
- Summary/Abstract:This study presents conceptual ideas and propositions for the digital transformation of the apparel retail business and its evolutionary transformation and modeling. Empirical aspects of the development of online clothing shopping by European consumers are highlighted. The main objective of the present study is to outline more significant manifestations of the impact of digital transformation on the clothing retail business and on this basis to analyze and evaluate the change in online clothing purchases made by European consumers, taking into account the dependencies of certain economic and demographic variables such as disposable income, gender, age, education and employment status. Respondents to the study are individuals from the 27 member states of the European Union. Data on their budgets, demographic profiles and online clothing purchases are for the period 2012-2022. The measurement of the emerging dependencies between the main variable – online clothing purchases, and the selected variables is carried out with the help of computer processing software – IBM SPSS Statistics and the Excel program. The research methodology includes the application of the single linear regression and correlation method. The results obtained from the research carried out are useful for characterizing the changes occurring in the online shopping of clothing by consumers in Europe.
The Impact of Augmented Reality (AR), and Virtual Reality (VR) in Marketing Campaigns
The Impact of Augmented Reality (AR), and Virtual Reality (VR) in Marketing Campaigns
(The Impact of Augmented Reality (AR), and Virtual Reality (VR) in Marketing Campaigns)
- Author(s):Anisa Isufi, Nerajda Feruni, Osman Koroglu
- Language:English
- Subject(s):Social Sciences
- Page Range:101-110
- No. of Pages:10
- Keywords:Augmented reality; Virtual reality; Sales; Marketing; PRISMA; Consumer behavior
- Summary/Abstract:Augmented Reality (AR) and Virtual Reality (VR) technologies have revolutionized marketing by seamlessly merging physical and digital experiences. However, the conceptual development of this field within academic literature has been somewhat limited. To address this gap, our systematic literature review, following the PRISMA methodology, thoroughly examines existing research and industry insights while emphasizing the importance of a well-defined conceptual framework. By introducing the PRISMA technique, our study aims to investigate the current and anticipated technological advancements in terms of consumer engagement, brand loyalty, and sales conversion. Our framework encompasses technological affordances, consumer engagement, and persuasive content creation, exploring how AR and VR applications impact consumer perception, brand awareness, and purchase behavior within this framework. While some studies highlight positive impacts on consumer engagement, brand loyalty, and sales conversion, we also identify critical research gaps. These gaps primarily center around the need for empirical research and a deeper understanding of consumer behavior when interacting with AR and VR in marketing campaigns. Additionally, technological challenges, privacy concerns, and content creation hurdles remain significant obstacles to success in this domain. Our study’s key contributions include the classification of five cluster themes for the two meta-synthesis analyses, pointing to potential future directions for businesses and academics. This underscores the continued integration of AR and VR technologies into marketing practices, providing a compelling opportunity to address these research gaps. Ultimately, our review offers a roadmap for further inquiry, providing valuable insights for both marketers and the academic community in this dynamically evolving field.
Analysis of the Content Marketing to Build a Relationship and Loyalty with Consumers
Analysis of the Content Marketing to Build a Relationship and Loyalty with Consumers
(Analysis of the Content Marketing to Build a Relationship and Loyalty with Consumers)
- Author(s):Fani Kerum, Dijana Vuković, Ivanka Ipša
- Language:English
- Subject(s):Social Sciences
- Page Range:111-121
- No. of Pages:12
- Keywords:Social networks; Media content; Digital platforms; Target audience; Customers; Marketing; Content
- Summary/Abstract:Social networks as new mass communication media enable the consumer to actively use, socialize, follow, interpret, and share media content and forms for the purposes of information, shopping, entertainment, and education, so companies that do not brand themselves and do not communicate with their users via social networks in the right way or at all inevitably lose the battle with their competition. Under the pressure of drastic market changes, numerous companies are entering this market, and social networks are flooded with branded content of all kinds of goods and services. It is therefore more important than ever to create a personalized offer and the closest possible relationship with the customer and thus gain a competitive advantage. However, in order to do this, it is extremely important to know the customer well; it is important to understand his problems, desires, passions, doubts, interests, habits, strengths, and weaknesses. Digital platforms offer extremely functional sales tools with which brands can effectively reach their target audience on social networks, but sales that rely exclusively on dry ad formats are not enough today by themselves for the reasons mentioned. It is necessary to offer the audience relevant content with values that they can identify with; it is necessary to offer content that solves some of their potential problems. This paper aims to point out the basic characteristics of the marketing content concept in the phase of building relationships and in the phase of maintaining consumer loyalty. In addition, the article aims to respond to the current limitations associated with the measurement and use of marketing content as a concept, as well as the importance of professional and academic research on this form of marketing communication.
Greenwashing Technique – An (Un)Acceptable Tool of Marketing Communication? Experiences and Attitudes of Marketing Experts and Consumers
Greenwashing Technique – An (Un)Acceptable Tool of Marketing Communication? Experiences and Attitudes of Marketing Experts and Consumers
(Greenwashing Technique – An (Un)Acceptable Tool of Marketing Communication? Experiences and Attitudes of Marketing Experts and Consumers)
- Author(s):Dijana Vuković, Tanja Grmuša, Dora Borić Radić
- Language:English
- Subject(s):Social Sciences
- Page Range:123-132
- No. of Pages:10
- Keywords:Greenwashing; Unacceptable practices; Marketing communication; Marketing experts; Consumers
- Summary/Abstract:The term greenwashing is inspired by numerous immoral and unacceptable practices in the creation of marketing content as a response to consumers’ desire for green and sustainable practices. Given that real change and rationalization of business generally require numerous investments, many corporations decide to use greenwashing as a communication tool with the aim of falsely or incompletely presenting their business. This paper brings the results of qualitative research conducted using focus group methods and in-depth interviews with a sample of consumers and marketing experts, its goal was to investigate the awareness of consumers, as well as representatives of the profession, and the general attitudes and actions that are applied when making decisions about purchasing or acting within the profession.
Sustainability Index and Corporate Performance: A Study of the FTSE4Good IBEX
Sustainability Index and Corporate Performance: A Study of the FTSE4Good IBEX
(Sustainability Index and Corporate Performance: A Study of the FTSE4Good IBEX)
- Author(s):Monica Gonzalez Morales, Jose Antonio Cavero Rubio, Araceli Martinez Amoros
- Language:English
- Subject(s):Social Sciences
- Page Range:133-140
- No. of Pages:8
- Keywords:ESG Practices; Financial performance; Sustainability index
- Summary/Abstract:In response to the evolution of global paradigms, contemporary companies have moved beyond the exclusive pursuit of traditional financial metrics, embracing environmental, social, and governance (ESG) considerations as fundamental components of their strategic agendas. This study delves into ESG’s influence on financial performance among Spanish companies listed on the FTSE4Good IBEX versus the IBEX 35 from 2015 to 2022. Surprisingly, sustainability index inclusion doesn’t guarantee superior financial outcomes; IBEX 35 firms showcase stronger liquidity, solvency, return on assets, and investment compared to FTSE4Good IBEX counterparts. Return on equity and financial leverage, however, display no significant divergence between the groups, adding intricacy to the ESG-finance correlation. The findings emphasize addressing financial hurdles for ESG-centric entities and challenge the FTSE4Good IBEX’s comprehensive reflection of ESG practices. Continuous exploration of factors shaping the relationship between ESG and financial results remains imperative for comprehensive insights.
Eco-Metals Unveiled: A Deep Dive into Commodity Resilience
Eco-Metals Unveiled: A Deep Dive into Commodity Resilience
(Eco-Metals Unveiled: A Deep Dive into Commodity Resilience)
- Author(s):Mariana Chambino, Rui Dias, Paulo Alexandre, Rosa Galvão
- Language:English
- Subject(s):Social Sciences
- Page Range:141-149
- No. of Pages:10
- Keywords:Events of 2020 and 2022; Energy metals; Persistence; Arbitrage
- Summary/Abstract:The drive for sustainability and carbon emissions reduction is fueling the demand for clean energy solutions, with energy metals playing a crucial role in this transition. The environmental and ethical implications of mining and supplying these materials impact market dynamics, influenced by environmental regulations and consumer preferences for sustainable sources. This article aims to analyze the persistence of commodities, including gold (XAU), silver (XAG), platinum (XPT), aluminum (MAL3), nickel futures (NICKELc1), and copper futures (HGU3), from July 13, 2018, to July 11, 2023. The study divides the sample into four sub-periods: tranquil, COVID-19 pandemic, pre-conflict, and conflict (Russian invasion of Ukraine). Results indicate varying behaviors, with some commodities showing anti-persistence, suggesting distinct patterns, while others exhibit efficiency or random walk behavior. Understanding these patterns and market efficiency is valuable for informed investment strategies and risk management amid evolving global economic conditions.
Mobile Banking Acceptance in Austria and Romania: An Empirical Study
Mobile Banking Acceptance in Austria and Romania: An Empirical Study
(Mobile Banking Acceptance in Austria and Romania: An Empirical Study)
- Author(s):Ana Diana Domuta, Christine Strauss
- Language:English
- Subject(s):Social Sciences
- Page Range:151-162
- No. of Pages:12
- Keywords:Mobile banking; UTAUT; Technology acceptance; Trust; Risk
- Summary/Abstract:The global surge in mobile banking, accelerated also by the COVID-19 pandemic, has heightened competition in the banking sector, emphasizing the need to understand mobile banking adoption across countries. However, cross-cultural research in this field appears to be limited, especially in Austria and Romania. This study uses the Unified Theory of Adoption and Use of Technology (UTAUT) to investigate factors influencing mobile banking acceptance in both countries. Data was collected from 425 participants in Austria and Romania. The results of the hierarchical multiple regression analysis highlight that performance expectancy is the primary predictor of mobile banking acceptance. Effort expectancy, facilitating conditions, and trust show varied effects across countries. The findings suggest financial institutions should prioritize performance, risk, and social approval in marketing mobile banking in both countries, with an additional focus on trust in Austria and ease of use in Romania.
The Impact of Standards and Patents on Economic Growth in Western Balkan Countries
The Impact of Standards and Patents on Economic Growth in Western Balkan Countries
(The Impact of Standards and Patents on Economic Growth in Western Balkan Countries)
- Author(s):Edmira Cakrani, Enriko Ceko
- Language:English
- Subject(s):Social Sciences
- Page Range:163-171
- No. of Pages:10
- Keywords:Standards; Patents; Economic Growth; Panel data
- Summary/Abstract:Standards are documents that determine the rules and establish conditions for the production of products, the offering of services, the management of processes, etc. Since the standards are formulated by consensus, the application of the standards by businesses and organizations is important because they are considered guarantors of quality. Businesses that apply international standards have a competitive advantage and offer greater value to their consumers. Patents are exclusive rights granted to an innovation, which provide investors with protection of their intellectual property. The number of patents in a country is an indicator of the technological development of that country. It can influence economic growth, by encouraging investments in research and development, promoting competition and innovations, facilitating knowledge spillovers, etc. The purpose of this research paper is to analyze the possible relationship between international ISO standards, patents, and economic growth in 5 Western Balkan countries. Panel data, for the period 2013-2021 is used to investigate this relationship. In addition to the number of standards, in the model are included other variables, such as gross capital formation, employment level, and innovation index as a proxy for the patents. The Hausman test suggests that the appropriate model is the fixed effects model. There is little research that investigates the impact of standards and patents on economic growth. This paper complements the literature on this topic.
Engel Expenditure Curves for Households in the Slovak Republic and Income Elasticity of Expenditure
Engel Expenditure Curves for Households in the Slovak Republic and Income Elasticity of Expenditure
(Engel Expenditure Curves for Households in the Slovak Republic and Income Elasticity of Expenditure)
- Author(s):Elena Hoškova, Iveta Zentkova
- Language:English
- Subject(s):Social Sciences
- Page Range:173-183
- No. of Pages:12
- Keywords:Engel expenditure curves; Impact of income; Income elasticity of expenditure
- Summary/Abstract:The paper aims to investigate how household income in the Slovak Republic affects household expenditure on various goods and services. The data are drawn from the Statistical Office of the Slovak Republic for the period 2005-2022. The impact of income on expenditure was quantified through Engel expenditure functions for 11 groups of goods and services. The results of the regression analysis indicated that expenditure on all the goods and services under study increased with the increase in income. Income elasticities of expenditure indicated that the expenditure of a household with two children was the most elastic to a change in income. For example, the income elasticities of expenditure for transport and post and telecommunications were 1.791 and 1.2 respectively. The Engel curves for these goods converge to line 45. Expenditure trends for households with three or more children could be explained by income only for some goods and services. In general, these households also responded less elastically to changes in income compared to other households.
Income Inequalities during the Post-covid Era in the Greek Tourism Industry
Income Inequalities during the Post-covid Era in the Greek Tourism Industry
(Income Inequalities during the Post-covid Era in the Greek Tourism Industry8)
- Author(s):Konstantinos Krikonis, Ioannis Konstantaras
- Language:English
- Subject(s):Social Sciences
- Page Range:185-191
- No. of Pages:8
- Keywords:Oaxaca decomposition; Tourism wage model; Job location selection
- Summary/Abstract:Tourism industry wages are dominated by seasonality, with no detailed key factors affecting monthly salary available for candidates and employers. Using Blinder-Oaxaca wage decomposition technique, the authors identified the impact of job location, education, gender and other factors within the Greek Tourism Industry during the summer season of 2023. Analyzing 600 job offers involving 2500 candidates and 320 companies, the paper provides a comprehensive dataset that can yield valuable insights into the dynamics of the market. The authors identified across-country income variations, based on geographic trends and emphasized the role of education. Based on the results, even though the pandemic has offered new job prospects, especially for female employees, the gender wage gap is still widely apparent in the industry. By exploring these aspects, this paper offers a nuanced understanding of salary variations providing valuable information for professionals making career decisions and businesses seeking to optimize their talent strategies.
Logistics and Supply Chain a Perspective on Unstable Markets
Logistics and Supply Chain a Perspective on Unstable Markets
(Logistics and Supply Chain a Perspective on Unstable Markets)
- Author(s):Rui Mansidao, Andre Alves
- Language:English
- Subject(s):Social Sciences
- Page Range:193-203
- No. of Pages:12
- Keywords:Supply chain; Family businesses; Market orientation
- Summary/Abstract:The main objective of this work is to investigate the logistic function in an organizational context and analyze the influence of logistical performance as a relevant factor for the orientation of these companies to the market and in the development of competitiveness standards with an impact on organizational performance. This relationship is investigated in the specific situation of the Portuguese industry, and for this purpose data was collected from a group of family businesses. The investigation model, derived from the formulated hypotheses, was tested using the analysis of structural equations using the partial least squares technique.