ABSRJ
An open access journal
VOLUME 15 (2024) - Number 1
Bambang Dwi Suseno
Universitas Bina Bangsa, Indonesia
proexchellence@gmail.com
Dedeh Rochmaedah
Serang City Government’s Department of Industry and Trade, Indonesia
dedehrochma@gmail.com
Solida Firjatullah
Center for Demographic, Employment and Regional Competitiveness Studies, Indonesia
firjaadjah@gmail.com
Ahmad Munawir
Center for Demographic, Employment and Regional Competitiveness Studies, Indonesia
nawwireddin95@gmail.com
Irwan Idrus
Muhamadiyah University Pare-pare, Indonesia
irwanidrus@umpar.ac.id
Abstract
This study aimed to assess the influence of service and product quality on customer attitudes and subsequent purchasing decisions. Additionally, individuals with no previous experience in online product purchases were targeted in the population of Serang City, Indonesia. A total of 225 participants were selected through a meticulous proportional random sampling method using the Hair formula. The gathered data was rigorously analyzed using SmartPLS 3.3.3 by adopting a comprehensive structural equation modelling (SEM) method. The five proposed hypotheses were substantiated by the collected data to report crucial insights. The results showed that superior service quality significantly impacted customer attitudes towards the respective company or the services rendered. Furthermore, a strong correlation was established between high product quality and positive attitudes. In the context of purchase decisions, commendable service quality increased the probability of a successful transaction. Moreover, customers perceived enhanced value when considering purchases, particularly with increased service quality. The substantial influence of positive attitudes was also reported towards company or product on actual purchasing decisions to show the role of sentiment in driving successful transactions.
Keywords: service quality; product quality; customer attitude; online purchasing decision
Draško Veselinovič
Slovenian Business and Research Association, Belgium
drasko.veselinovic@sbra.be
Abstract
The EU budget 2021 – 2027 stands at 1,824.3 billion euros. It has two parts: Next Generation EU (750 billion euros) and Multiannual Financial Framework (1,074.3 billion euros). The EU is already issuing different debt instruments to finance more than 40% of its budget (750 billion euros). One third of this borrowing (250 billion euros) will be financed through the EU Next Generation Green Bonds. We prove that issuing new short- and long-term EU debt instruments has become an important source and novelty for the EU budget. We also prove that there are many other important, even ‘revolutionary’ novelties connected to the EU budget 2021 – 2027. We explore all these novelties in a very systematic way what represents original contribution to the financial research. We research the EU green bonds for the first time in the systematic way. We also explore some green bonds’ characteristics and requirements to prove that the EU green bonds are very financially and strategically important novelty for the EU 2021 – 2027 budget.
Keywords: EU budget; EU bonds; green bonds
Nguyen Ngoc Long
Industrial University of Ho Chi Minh City, Vietnam
nguyenngoclong@iuh.edu.vn
Bui Thi Thuy Linh
Industrial University of Ho Chi Minh City, Vietnam
tlinhk16iuh@gmail.com
Le Thi Kim Hoa
Industrial University of Ho Chi Minh City, Vietnam
lethikimhoa@iuh.edu.vn
Abstract
Utilizing bibliometric analysis, this study identifies academic gaps, research trends, and data pertaining to student entrepreneurial activities. The authors conducted a qualitative analysis of 984 selected studies from the Google Scholar database. Data that have been analyzed include trends in publishing years, the number of papers published, the number of citations, and frequently used keywords in research on students’ intentions to start their own enterprises from 2007 to 2022. Additionally, by developing network visualizations, co-authorship network maps, and keyword co-occurrence network maps over a 15-year period (2007–2022), this study validates how well biometric analysis works. In this study, VOSviewer’s mapping capabilities helped identify six clusters (a rise in study themes, hot themes, notable authors, eminent journals, publications, and primary research directions). The study’s findings aid in directing future research into entrepreneurship and provide policymakers and directors with relevant takeaways for encouraging student entrepreneurship intentions.
Keywords: entrepreneurial intention; bibliometrics; VOSviewer; entrepreneurship
Ajda Fošner
GEA College – Faculty of Entrepreneurship, Slovenia
ajda.fosner@gea-college.si
Katja Trop
GEA College – Faculty of Entrepreneurship, Slovenia
katja.trop@gea-college.si
Abstract
The goal of this paper is to present the results of the interviews which were conducted in September 2022 by GEA College with various stakeholders, including representatives from the agri-food, health and mobility sectors, representatives from the education sector and consulting field to better understand the specific green, digital, and foresight skills required to drive sustainable practises in Slovenia. This paper gave us a more thorough picture of Slovenia’s prospects and problems and serves as a valuable resource for understanding the current state of the industry, the required skills for a sustainable future, and the best practices that could be adopted to foster positive change.
Keywords: strategic foresight; sustainability; education
Vladimir Bukvič
GEA College – Faculty of Entrepreneurship, Slovenia
Vladimir.bukvic@gea-college.si
Abstract
The author shows how companies in the real sector of the economy carry out their investment activities, especially how they invest in long-term assets, in terms of both investment dynamics and investment financing, with an emphasis on strategic investments. In the theoretical part of the paper, the author presents certain laws that apply in the field of investment activity, addressing the issue of the intensity of the investment activity of companies over time and the issue of providing the necessary financial resources for the implementation of strategic investments. In the empirical part of the paper, on a sample of Slovenian large and medium-sized companies from the real sector of the economy, the investment activity of companies in the period 2010–2017, i.e. after the great financial crisis and economic recession, is shown. This is done through the prism of various factors and their effects on investment ability. The author puts forward several research hypotheses (7), which he fully confirms.
Keywords: strategic investments; investment opportunities; investment dynamics; investment financing; investment ability
Lea Cok
Faculty of Advanced Social Studies, Slovenia
lea.cok@gmail.com
Jani Ivan Toroš
GEA College – Faculty of Entrepreneurship, Slovenia
jani.toros@gea-college.si
Jan Nalesnik
GEA College – Faculty of Entrepreneurship, Slovenia
jan.nalesnik@gea-college.si
Abstract
This research utilizes the MaxDiff method to categorize associations with the term trust and evaluate its effectiveness in advertising messages. Statistical analysis reveals significant differences among various word linked to term trust. Adjectives like reliable, loyal, and caring emerge as the most prevalent, reflecting respondent preferences. Furthermore, 80.8% of respondents prefer adjectives over nouns in associating with trust. By employing the MaxDiff methodology, this study offers valuable insights into nuanced perceptions of trust in advertising, facilitating the development of more impactful messaging strategies.
Keywords: trust; advertising credibility; preferences; adjectives; nouns
VOLUME 15 (2024) - Number 2
Tristiana Rijanti
University of Stikubank,
Indonesia
tristianar@edu.unisbank.ac.id
Askar Yunianto
University of Stikubank,
Indonesia
askar@edu.unisbank.ac.id
Siska Dwi Safitri
University of Stikubank,
Indonesia
safitri@edu.unisbank.ac.id
Ali Maskur
University of Stikubank,
Indonesia
maskur@edu.unisbank.ac.id
Bambang Sudiyatno
University of Stikubank,
Indonesia
bsud@edu.unisbank.ac.id
Abstract
This research aimed to examine the influence of workload and motivation on employee performance, with organizational culture serving as the moderating factor. In order to achieve the aim, an analysis was conducted using a quantitative method on a sample size comprising 133 employees from the jumbo veneer production line of PT Kayulapis Indonesia. Data was collected through the distribution of questionnaires, which were compiled using a Likert scale with 5 (five) alternative answers. Furthermore, the research instruments were tested for both validity and reliability and the analytical tools adopted in the context of the investigation comprised multiple regression. The results showed that both workload and motivation positively influenced employee performance. It was also observed that organizational culture effectively moderated the influence of workload and motivation on employee performance. The results provided empirical evidence, which emphasized the role of organizational culture in strengthening the influence of workload and motivation on improving employee performance.
Keywords: employee performance; motivation; organizational culture; workload; quantitative method
Anastasia M D Batmomolin
STPM Santa Ursula,
Indonesia
marianaitab@gmail.com
Justine Tanuwijaya
Universitas Trisakti,
Indonesia
justine@trisakti.ac.id
Bahtiar Usman
Universitas Trisakti,
Indonesia
bahtiar.deteo@gmail.com
Abstract
In the midst of intense competition and rapid changes, employees’ innovative behavior is crucial as it determines the organization’s sustainability. This quantitative study seeks to explore how ethical leadership and affective commitment give impact on innovative work behavior, with knowledge sharing acting as a mediator. There were 333 private school teachers in Indonesia responded to an online questionnaire and became the research participants. The research data underwent analysis through Structural Equation Modeling using AMOS version 24.0. The results of the study indicate that ethical leadership and affective commitment directly and indirectly influence the innovative work behavior. Knowledge sharing has a positive effect on innovative work behavior and serves as a mediator for the influence of ethical leadership and affective commitment on innovative work behavior. The implications of this research are significant for education leaders, especially in the appointment of school principals or preparing prospective school leaders, and in managing employee behavior to foster and enhance innovation.
Keywords: affective commitment; ethical leadership; innovative work behavior; knowledge sharing
Boštjan Špehonja
GEA College – Faculty of Entrepreneurship,
Slovenia
Ajda Fošner
GEA College – Faculty of Entrepreneurship,
Slovenia
ajda.fosner@gea-college.si
Robert Brumnik
GEA College – Faculty of Entrepreneurship,
Slovenia
Abstract
The goal of the research was to determine, analyse and compare the type and number of cyber-attacks in the chosen countries: Germany, the United Kingdom, Serbia, and Slovenia. In all four countries, we set up honeypots and in Germany, we installed the fifth server for managing and collecting data from honeypots. Each of the four servers had the identical setup of six sensors: secure shell sensor, file transfer protocol sensor, vulnerable website sensor, server message block sensor, point-to-point tunnelling protocol sensor, and sensor for structured query language protocol for working with databases SQL. Data collection lasted for 12 days in February 2021, during which we detected a total of 1.847.395 attacks. The server in the United Kingdom captured 31,53% of the overall traffic, the server in Germany 23,26%, the server in Serbia 22,71%, and the server in Slovenia 22,50% of the overall traffic. After exporting all unique IP addresses from all four servers, we found a significant 12,89% overlap of IP addresses attacking both the Slovenian server and at least one of the other servers. Moreover, we analysed 124 unique samples of malicious code uploaded on the Slovenian server, and all of them were identified before our data capture, confirming that no zero-day vulnerabilities were cached on the Slovenian server.
Keywords: cybersecurity; cyber-attacks; honeypot; Germany; the United Kingdom; Serbia; Slovenia
Tatjana Stanimirović
University of Ljubljana,
Slovenia
tatjana.stanimirovic@fu.uni-lj.si
Jelena Poljašević
University of Banja Luka,
Bosnia and Herzegovina
jelena.poljasevic@ef.unibl.org
Vesna Vašiček
University of Zagreb,
Croatia
vvasicek@net.efzg.hr
Abstract
After several decades of developing the role of accounting in the public sector as a technical tool, there are some new perspectives emphasizing the potential of accounting in a broader socio-political context. Nowadays, public sector organizations, especially universities and other educational institutions, must follow the principles of good governance and be accountable to a variety of stakeholders. The modest amount of previous research, especially for the Eastern European countries, was the motivation to investigate the topics and competencies in the undergraduate and postgraduate public higher education programmes in Slovenia, Bosnia and Herzegovina and Croatia on the one hand, and to assess the perception of the knowledge of accountants acquired in formal higher education on the other. The results show that in all three countries there are only a small number of study programmes, especially in undergraduate programmes, while accountants on average perceive their knowledge acquired at university as insufficient for their work.
Keywords: public sector accountants; study programmes; knowledge of public sector accountants; accounting reforms
Boštjan Aver
GEA College – Faculty of Entrepreneurship,
Slovenia
bostjan.aver@gea-college.si
Abstract
In recent years, the field of open AI has gained increasing significance with a growing number of scientific publications and research projects in this domain. The aim of this paper is to present a bibliometric overview of open AI research, aiming to provide a comprehensive analysis of the top countries, institutions, authors, journals, and keywords in the field. Through our bibliometric analysis, we have identified the leading contributors and research trends within open AI. This analysis serves as a valuable resource for researchers, policymakers, and stakeholders, offering insights into the current state and emerging trends in open AI research. It also aids in the identification of potential future research fields and areas of interest.
Keywords: bibliometric analysis; SciVal analytics; open AI
Dwi Kurniawan
Institut Teknologi Nasional,
Indonesia
dwi_kurniawan@itenas.ac.id
Sely Putri Oktaviani
Institut Teknologi Nasional,
Indonesia
selyoctavian@gmail.com
Abstract
This study investigated the factors influencing dimensions of trustworthiness in virtual organizations. The research model examined the relationships between trustworthiness dimensions (ability, benevolence, and integrity), user participation, information and communication technology (ICT), and shared values and goals. An online survey was conducted among online transportation users in Greater Bandung to test the model. The findings revealed positive relationships between ICT and both benevolence and integrity, and between shared values and goals and all trustworthiness constructs. Interestingly, participation only had a significant relationship with integrity. The study contributed to the literature by proposing a novel model that examines the impact of these factors on trustworthiness in virtual organizations.
Keywords: information and communication technology; shared values and goals; trustworthiness; structural equation modelling (SEM)
VOLUME 14 (2023) - Number 1
Ana Malnar
University of Rijeka, Croatia
ana.malnar@efri.hr
Karin Širec
University of Maribor, Slovenia
karin.sirec@um.si
Abstract
Entrepreneurial activity is considered an important aspect of the organization of industries most conducive to innovation and unrestricted competition and, at the same time, it is viewed as one of the most important factors in the economic progress of a country. Entrepreneurial activity depends, among other, on several individual factors. This paper investigates the correlation between entrepreneurial activity and individual predictors such as gender and household income based on the data from Global Entrepreneurship Monitor (GEM). The paper aims to help fill the gap in the literature by providing a quantitative analysis of the relationships and effects between entrepreneurial activity, gender, and household income in Slovenia. The empirical results show that the correlations between entrepreneurial activity and gender could not be confirmed, while the correlations between household income and entrepreneurial activity can be demonstrated for the bottom and the top third of the household income category.
Keywords: Entrepreneurial activity; gender; household income; Global Entrepreneurship Monitor
Quoc Bao Lam
Ho Chi Minh City Open University, Vietnam
1954082006bao@ou.edu.vn
Minh Pham
Ho Chi Minh City Open University, Vietnam
minh.p@ou.edu.vn
Abstract
The issue of career choice plays an important role in students’ future. Researchers have conducted many studies to explain the career choice process. However, choosing the right career is still very difficult. This article examines the role of career exploration and determines how it works throughout social cognitive career theory. Data were collected using a questionnaire designed on Google Forms in June 2022. In addition, 340 Vietnamese students participated in this study. The research hypotheses were tested through SmartPLS 3. The results have once again confirmed the role of social cognitive career theory in explaining the career selection process. Another interesting finding was that environment exploration had a more substantial effect on the relationship between self-efficacy and career choice than self-exploration. Finally, the article further clarified the role of career exploration and helped universities devise tailored study programs to make the career choice process more efficient.
Keywords: Career choice; self-efficacy; outcome expectation; career exploration
Shanu Srivastava
Banaras Hindu University, India
shanu.0108@bhu.ac.in
Aashna Sinha
Banaras Hindu University, India
aashna2407@bhu.ac.in
V Shunmugasundaram
Banaras Hindu University, India
sundaram@bhu.ac.in
Abstract
Rapid progression in technology has resulted in the tremendous growth & development of FinTechs, which significantly transformed the framework of the Indian Financial System. So, the present research aims at contributing to the literature by employing extended TAM to examine Perceived Usefulness (PU), Perceived Ease of Use (PEOU), Government Influence (GI) & Security (S) as the factor influencing users’ Intention to Adopt (ITA) FinTech Services in India. Our findings revealed that PEOU, PU & GI significantly impact the usage of Financial Technological Services while Security has an insignificant influence on users’ intentions. Moreover, it was found that PU mediates the association of PEOU with ITA. Therefore, the present research contributes to the literature concerned with factors affecting users’ ITA FinTech Services and validating Technology Acceptance Model (TAM) in anticipating users’ ITA FinTech Services by adding Security & Government Influence as additional constructs.
Keywords: behavioural intention; financial technology; FinTech services; perceived usefulness, TAM
Valentina Jošt Lešer
GEA College – Faculty of Entrepreneurship, Slovenia
valentina.jost-leser@gea-college.si
Dario Berginc
GEA College – Faculty of Entrepreneurship, Slovenia
dario.berginc@gea-college.si
Abstract
The paper outlines the importance of distinguishing between different types of MBA programmes (professional and academic MBAs) and thus related outcomes. Furthermore, the paper presents a case study from Slovenia where we obtained the data crucial to adapt the MBA curriculum to employers’ requirements. The research was conducted to offer a new MBA program in Slovenia by GEA College – Faculty of Entrepreneurship. The most significant discrepancy has been recognised in interpersonal, leadership, and entrepreneurial skills. Emotional intelligence and empathy are proposed directly by employers as essential for the manager’s job. Our results confirm some existing research in this area. The importance of the study is seen as a good practice. Moreover, findings are beneficial for leaders in education, especially for MBA programme managers: to enhance their programme relevance, adopt more innovative ways of designing and delivering courses, and as a good starting point for further extensive research of the MBA skill gaps in Slovenia. The latter is very important, as our study was limited to GEA College’s business partners.
Keywords: MBA; MBA skills; MBA curriculum; soft skills; case study
Tien Thuy Ho
University of Finance and Marketing, Vietnam
tienht@ufm.edu.vn
Oanh Kim Thi Tran
University of Finance and Marketing, Vietnam
kimoanh@ufm.edu.vn
Diep Van Nguyen
Ho Chi Minh City Open University, Vietnam
diep.nv@ou.edu.vn
Abstract
The current article investigates the impact of bank-specific and macroeconomic factors on the net interest margin (NIM) of commercial banks in Vietnam. In order to explore the association, we performed Bayesian linear regression on a dataset of 24 banks from 2008 to 2020. Our research result reveals that bank size (LNSIZE), profitability (ROA), operational cost to operating income ratio (BOPO), loan-to-deposit ratio (LDR), and non-performing loan ratio (NPL) of a bank positively affect the NIM of banks. On the contrary, bank liquidity (GWM) and loan market power (MPR) negatively affect the NIM of banks. Moreover, we suggest that macroeconomic factors, including GDP growth (GDP) and M2 money supply growth (M2), have a negative impact on NIM. Furthermore, the impact of the inflation rate (INFL) on NIM is relatively low. Our article highlights new information that improves the understanding of the NIM of banks in emerging economies like Vietnam.
Keywords: commercial banks; net interest margin; Bayesian linear regression; Vietnam
VOLUME 14 (2023) - Number 2
Virgo Simamora
Universitas 17 Agustus 1945 Jakarta, Indonesia
virgo.simamora@uta45jakarta.ac.id
Lani Dinana Wijaya
Universitas 17 Agustus 1945 Jakarta, Indonesia
lani.wijaya@uta45jakarta.ac.id
Abstract
Enhancing information technology (IT) and innovation capabilities is crucial for micro, small, and medium-sized enterprises (MSMEs) in responding to consumer behavioral changes during the coronavirus disease (COVID-19) pandemic. This study is an explanatory study investigating coffee drinkers’ perspectives on the influence of IT and innovation capabilities on their purchasing intentions. The study’s population was unspecified number of coffee drinkers in Indonesia. A purposive sampling technique was used to select a sample of 210 coffee drinkers. This survey is accessible only to those who consume at least one cup of coffee daily. A questionnaire was distributed from March 20 to April 24, 2022 to collect data from the eligible respondent. This study found that coffee drinkers’ purchase intentions to buy coffee from MSME coffee shops were favorably influenced by technological competence. The findings also revealed the influence of innovation capabilities on purchase intentions among coffee drinkers. This study concludes that IT and innovation capability could be a competitive advantage in coping with a difficult time during the COVID-19 pandemic.
Keywords: information technology capability; innovation capability; purchasing intentions; MSMEs
Suhana Suhana
Universitas Stikubank, Indonesia
suhana@edu.unisbank.ac.id
Anwar Mansyur
Universitas Stikubank, Indonesia
mansyur@edu.unisbank.ac.id
Lie Liana
Universitas Stikubank, Indonesia
lieliana@edu.unisbank.ac.id
Ali Mursid
Bank BPD Jateng School of Economics and Business, Indonesia
ali.mursyid14@gmail.com
Abstract
This study aims to explore the antecedents of psychological empowerment and its consequences. Employees of micro, small, and medium enterprises in Semarang City, Central Java, Indonesia, comprised this study’s population. This study’s sample size was 158 respondents from various business sectors. Food and beverages, beauty care, massage services, financial services, grocery, and other industries are included. Quota sampling was utilized as a sampling technique. The data were processed using structural equation models. The result indicated that transformational leadership positively affect on psychological empowerment. Knowledge sharing is significantly influenced by psychological empowerment. Other findings include the fact that psychological empowerment has a strong favorable effect on job performance and innovative behavior. This study has theoretical and managerial consequences.
Keywords: transformational leadership; psychological empowerment; innovative behavior; knowledge sharing; job performance
Laura Fink
GEA College, Slovenia
laura.fink@gea-college.si
Nataša Makovec
GEA College, Slovenia
natasa.makovec@gea-college.si
Jaka Vadnjal
GEA College, Slovenia
jaka.vadnjal@gea-college.si
Abstract
We have recently been witnessing a significant shift from fully classroom-based learning to hybrid learning. As a result, the purpose of this study is to validate the differences in digital skill levels among different groups of students (faculty and higher vocational) in Slovenia. The methods used included statistical analysis for mean differences (T-test, one-way ANOVA test), linear regression for hypothesis testing, and Chi-square for possible bias testing on a total of 223 data points. The results are based on a questionnaire that includes the following constructs: 1.) student engagement; 2.) efficient use of the e-learning platform; 3.) perception and attitude towards e-learning; 4.) digital readiness; 5.) skill development; and 6.) digital infrastructure. They indicate that digital skills differ depending on work experience, self-awareness, the study programme, and form, as well as the formal educational level attained after graduation. The study supports the idea that different groups of students differ in their digital skills and digital readiness, which proves to be relevant for their study engagement.
Keywords: rdigital skills; digital competence; e-learning; motivation; study engagement
Michaela Staňková
Mendel University in Brno, Czech Republic
michaela.stankova@mendelu.cz
Luboš Střelec
Mendel University in Brno, Czech Republic
lubos.strelec@mendelu.cz
Markéta Křetínská
Mendel University in Brno, Czech Republic
marketa.kretinska@mendelu.cz
Abstract
This article deals with a quantitative assessment of the technical efficiency of the construction sector in EU countries. The construction sector is an essential part of any country’s economy, yet the assessment of efficiency in this sector has been neglected. Our analysis covers a ten-year period, specifically the years between 2011 and 2020. Within this period, it is possible to observe not only long-term trends in changes in efficiency, but also changes in efficiency because of the COVID-19 pandemic. A total of five country groups were created with regard to the evolution of efficiency. The analysis shows that cyclical changes in the efficiency of the construction sector occurred in countries such as the Czech Republic, Germany, and Poland. According to the average efficiency values, the Czech Republic performs the best, while Ireland performs the worst.
.
Keywords: construction sector; COVID-19; efficiency; European countries; number of enterprises
Tanpat Kraiwanit
Rangsit University, Thailand
tanpat.k@rsu.ac.th
Pongsakorn Limna
Rangsit University, Thailand
pongsakorn.l65@rsu.ac.th
Peerapat Wattanasin
Rangsit University, Thailand
peerapat.wat64@rsu.ac.th
Papon Moolngearn
Rangsit University, Thailand
papon.m64@rsu.ac.th
Atipon Satranarakun
Rangsit University, Thailand
atipon.s64@rsu.ac.th
Abstract
This study investigates the adoption of digital wallet technology, particularly Worldcoin, in Thailand’s fintech sector. Qualitative research involving interviews was conducted with 10 digital wallet experts, revealing significant adoption factors like convenience, security, and trust. Digital wallets provide benefits such as simplified payment processes, reduced complexity, increased accessibility, cost savings, and improved financial management. However, newcomers like Worldcoin face challenges, including user scepticism, trust issues, the need to attain critical mass, and uncertainties related to cryptocurrency regulations. These digital wallets have a profound impact on the fintech industry, driving competition and innovation and expanding financial inclusion. Nevertheless, strict adherence to regulatory requirements is crucial. Worldcoin and similar digital wallets possess the potential to revolutionise the fintech landscape by offering convenience and benefits while also presenting challenges to the industry and businesses. Success hinges on addressing user needs, ensuring robust security measures, complying with regulations, and fostering trust and innovation.
Keywords: Adoption; digital wallet; Worldcoin; financial technology
Eren Onay
Istanbul Technical University, Turkey
erenonay@itu.edu.tr
Mehmet Erçek
Istanbul Technical University, Turkey
ercekme@itu.edu.tr
Abstract
This study aims to explore how popular management techniques are implemented in firms and how management experts actively manipulate the interplay among multiple competing ideas. Building on trending and semantically related fashion research, we intend to center upon a case study in which one of the leading electronic manufacturers of the World strives to change its implementation focus from Six Sigma to Factory Improvement 11. Thus, we strive to emphasize not only the temporal transition and resistance patterns but also contextual (double) translations that occur in one of the overseas subsidiaries. The case provided us with ample evidence about how the initial resistance to essentialist global rhetoric triggered local translations based on locally enabled bricolage of ideas and practices. We found that experts located in the subsidiaries often enjoyed significant levels of autonomy to display agentic behavior in denouncing/renouncing/editing both symbolic and material components of managerial practices.
Keywords: Management fashions; management innovation; diffusion; lean production; Six Sigma
VOLUME 13 (2022) - Number 1
Thomas Kitsantas
University of Macedonia, Thessaloniki Greece
th.kitsantas@uom.edu.gr
Athanasios Vazakidis
University of Macedonia, Thessaloniki Greece
vasak@uom.edu.gr
Constantinos J. Stefanou
International Hellenic University, Thessaloniki Greece
stefanou@acc.teithe.gr
Abstract
This study aims to assess ABC adoption in Greek companies and explore factors that facilitate and motivate its adoption and implementation. A survey via web-based questionnaires was conducted. The paper examined several organizational, environmental, technical, technological and behavioral, factors that were assessed in relation to ABC-adopters, firms that have implemented ABC, ABC-under consideration, firms that consider adopting ABC, and non-ABC users, firms that do not intend to adopt ABC. The study contributed to the current understanding of how contingency factors could reform the successful adoption of ABC in Greece. It filled a gap in the literature and reduced the ambiguity concerning the current state of ABC adoption and implementation in Greek firms, regarding all major sectors of the economy. It underscores the importance of adopting/utilizing the ABC regarding business processes and association with organization performance and confirmed results of existing studies.
Keywords: activity based costing; business process; organizational performance
Nasiha Osmanovic
Al Ghurair University, UAE
n.osmanovic@agu.ac.ae
Abstract
One of the most important roles in Islamic banking operation today is profitability and its performance. Islamic banks use the different modes of financing in order to achieve its profitability. The aim of this paper is to test the effects of Islamic financing in different sectors in KSA and UAE. Paper shows investing in which sector can lead to more profitable investment and positive impact on the profitability of Islamic banks. By using OLS multiple regression analysis paper shows that possibility of investment diversification is the highest in the United Arab Emirates. Particularly in investments in the sector mining and quarrying can cause losses in profitability. While investments into agriculture, forestry, hunting and fishing, construction, financial and insurance activities and real estate activities have positive impact on the profitability in United Arab Emirates. Similarly regarding to investment in KSA paper shows that the most profitable sectors are agriculture, forestry, hunting and fishing.
Keywords: Islamic banking; profitability; profit; investment; industrial sectors
Žiga Peljko
GEA College – Faculty of Entrepreneurship, Slovenia
ziga.peljko@gea-college.si
Jasna Auer Antončič
University of Primorska, Slovenia
jasna.auer@fm-kp.si
Abstract
In this research, a model including relationships between entrepreneurial curiosity, the creativity of the entrepreneur, the curiosity-creativity interaction term and company growth was conceptually proposed and empirically tested on data from entrepreneurs in three European countries. The purpose of the research was to investigate the connections between the psychological constructs of the entrepreneur and growth of the company. The authors’ intention with the research was to ascertain how entrepreneurial openness and creativity of the entrepreneur are connected either individually or together with growth of the company. The aim was to determine whether entrepreneurial curiosity interacts with creativity to positively influence business growth. The models and hypotheses were tested with structural equation modelling. The interaction effects in the structural model were examined in two ways (with both an interaction construct and a new interaction variable). This study adds to what is known about entrepreneurship by providing supporting empirical evidence concerning the relationship between the creativity of the entrepreneur and company growth, and some empirical evidence on the non-existence of relationships between entrepreneurial curiosity and growth and between the curiosity-creativity interaction term and growth. The growth of a company can in some countries be developed based on the creativity of the entrepreneur. Interaction effects may need to be given more emphasis in future research.
Keywords: entrepreneurial curiosity; creativity; interaction effects; entrepreneur; growth
Laura Pilukiene
Vilnius University, Lithuania
laura.pilukiene@evaf.vu.lt
Irma Spudienė
UAB DSP Plius, Lithuania
irma@dspplius.lt
Abstract
The number of research concentrating on the implementation of social responsibility initiatives in the context of extraordinary circumstances, e.g., the COVID-19 pandemic, has increased. This paper examines the links between the customer-focused corporate social responsibility initiatives (in the period of COVID-19 pandemic) and customer loyalty intentions, focusing on whether customers’ age or gender has any effect in this regard. Research results have shown that social responsibility initiatives with respect to customers carried out during the period of the COVID-19 pandemic are related to their loyalty intentions towards the company. It is worth to emphasize that no data has been obtained to support the statement that customers’ age and gender are proper moderators affecting the relation between customer-oriented social responsibility initiatives carried out in the period of the COVID-19 pandemic and the customers’ loyalty intentions.
Keywords: social responsibility initiative; customer loyalty intention; COVID-19
Fadil Osmani
University “Kadri Zeka” Gjilan, Kosovo
fadil.osmani@uni-gjilan.net
Dukagjin Leka
University “Kadri Zeka” Gjilan, Kosovo
dukagjin.leka@uni-gjilan.net
Gezim Jusufi
University “Kadri Zeka” Gjilan, Kosovo
gezim.jusufi@uni-gjilan.net
Abstract
The purpose of this paper is to analyze the impact of regional economic cooperation between Western Balkans countries in the process of their integration into the EU. Good cooperation is key to rapid integration into the EU. Through a review of the literature, the history of the region and various tabular statistics, this very important topic for the Western Balkans will be analyzed. Economic cooperation between these countries is the main element influencing rapid integration into the EU, but political obstacles continue to hamper regional economic cooperation. Analyzing this topic through theoretical evidence, it can be concluded that the EU should be more active in expanding regional economic cooperation between these countries by facilitating the elimination or broker peaceful negotiations. The EU has the authority to minimize all political disagreements with a view to expanding economic cooperation. Without resolving these longstanding issues and conflicts, this region will never integrate into the EU and experience economic development.
Keywords: economic cooperation; Western Balkan; EU, integration
VOLUME 13 (2022) - Number 2
Ivana Martinčević
University North, Croatia
ivana.martincevic@unin.hr
Vesna Sesar
University North, Croatia
vesna.sesar@unin.hr
Krešimir Buntak
University North, Croatia
kresimir.buntak@unin.hr
Abstract
The aim of this paper is: (1) to explore the theoretical background on financial and non–financial reporting, and sustainable development; (2) to research and review novelties that academic researchers have done in the field of financial and non-financial reporting; (3) to research and review novelties that academic researchers have done in the field of financial and non-financial reporting and their links to sustainable development; and (4) to provide a review of the research literature in these areas. In our research, we have used the detailed analysis of literature review, using the Scopus database, to summarize past findings in a research field. By analysing the relevant scientific sources and based on the results of the research, it can be concluded that there is lack of research in the area that connects financial and non-financial reporting to sustainable development and it needs further efforts and research. The intention and goal of this research was to make not only academic researchers but also managers in practice aware of the importance of financial and non-financial reporting in the function of sustainable development, as well as to make researchers and practitioners aware that there is insufficient research in this area. The obtained results can be used to expand the current scientific knowledge about the financial and non-financial reporting and its connection to sustainable development.
Keywords: sustainable development; financial reporting; non-financial reporting; sustainable management; reporting regulations
Márton Gosztonyi
University of Malaya, Malaysia
gosztonyi.marton@gmail.com
Abstract
In our paper, we analysed a longitudinal survey of Hungarian small and medium-sized enterprises (SMEs) and family businesses (FBs). We included a nationally representative, repeated cross-sectional (RCS) sample. We sought to analyse and answer the question of which trends can be detected in four segments (ownership structure, revenue, problem perception, and succession), and whether these trends are similar for SMEs and FBs. We used Grow Curve Modelling and Hierarchical Linear Models (GCM-HLM) to analyse the data. Our results shows that the ownership structure describes a different trend in the case of SMEs and FBs: the former shows a negative trend line, while the latter shows a positive trend line. Although, for sales revenue and sales, in the case of detection of problems, the SMEs and the FBs both can be characterised by an increasing trend line, and no change can be detected in the preparation for succession for either SMEs or FBs.
Keywords: longitudinal study; SMEs; family businesses; emerging market; Grow Curve Modelling; Hierarchical Linear Models
Katrin Förster
Zeppelin University, Germany
k.foerster@zeppelin-university.net
Wolfgang H. Schulz
Zeppelin University, Germany
wolfgang.schulz@zu.de
Abstract
The aim is to broaden the Technology Acceptance Model (TAM) application to consumer goods and to conceptualise the Consumer Good Acceptance Model (CGAM) based on TAM while keeping its core elements and relationships as they were initially presented. Therefore, structural elements of the TAM were reviewed, critical statements of the usage of TAM and how it was constructed were considered to extend the TAM while eliminating flaws and creating value for manufacturers. The conceptualised CGAM is theoretically well supported. The framework upon which the TAM is created allows to adjust it to any acceptance process no matter which good it is. On condition that the definitions of the core elements of the TAM are adjusted, and relevant external factors for the consumer good are introduced. This study provides a new approach to widen the application area of the TAM by extending it to the acceptance of consumer goods.
Keywords: Technology Acceptance Model; consumer economics; consumer behaviour; consumer acceptance; behavioural intention
Faizah Syihab
University of Trilogi, Indonesia
faizah@trilogi.ac.id
Muhammad Luqman Nurhakim
University of Indonesia, Indonesia
luqman11795@gmail.com
Abstract
This study aims to determine which factors influence household perceptions of retirement planning decisions. Age, marital status, salary, level of education, loan payment, and savings habit will be identified as significant variables in the prediction. This study employed the logistic regression (logit) model, with the sample divided into those who have enrolled in a pension plan and those who have not begun to plan for a pension fund. The sample age range was 26 to 58 years old, with a total of 2,808 respondents. This study discovered that for the age range 26-35 years old, obtaining more education, being younger, earning higher salaries, having less loan obligation, and saving less, the household were more likely to have proper retirement planning. However, between the ages of 36 and 58, planning for retirement became more likely as they get older, gain more education, enter marriage life, and have more loan obligations.
Keywords: retirement planning; pension fund; household; logit
Minh Anh Tran
Gia Dinh University, Vietnam
minhta01@giadinh.edu.vn
Abstract
E-commerce livestreaming is one of the fastest-growing types of commerce today. Along with the development of the IT industry, wireless networks covering the whole country with low capacity costs have led to the strong growth of livestreaming activities. This article evaluates the factors affecting consumers’ purchase intention through e-commerce livestreaming and examines the mediating role of perceived value in those relationships. The data were collected from April to June 2021 with 217 valid questionnaires. The results show that the components of perceived value (functional and emotional) positively mediate the relationship between interactivity, content, entertainment, opinion leader and promotion and purchase intention. As a result, entertainment has the most substantial impact on perceived emotional value, and content has the most decisive effect on perceived functional value. In contrast, promotions had the lowest impact on perceived functional and emotional value. This surprising outcome shows the difference between E-commerce livestreaming and other forms.
Keywords: livestream; perceived value; purchase intention; interactivity; entertainment
VOLUME 12 (2021) - Number 1
Mitja Jeraj
GEA College, Slovenia
mitja.jeraj@gea-college.si
Gokhan Aydin
University of East London, UK
g.aydin@uel.ac.uk
Abstract
This study focuses on entrepreneurial curiosity construct as a predecessor of entrepreneurial activity and ponders this construct among Generation Z in detail using a student sample (N=1068) from two distinct markets in Europe; Slovenia and Turkey. The study applies exploratory factor analysis (EFA) and confirmatory factor analysis (CFA) to further develop and validate a multifactor entrepreneurial curiosity construct that elaborates entrepreneurial activity and curiosity. Two face to face survey studies using a questionnaire form developed using relevant measures were applied and a total of 1150 surveys were obtained. After screening for low quality and incomplete surveys, data from 1068 forms were analysed on SPSS and AMOS to carry out EFA and CFA respectively. The results indicate a four-factor structure that are named as Entrepreneurial Spirit and Leadership, Learning and Personal Development Orientation, Materialistic Orientation, and Technical Curiosity. Moreover, comparisons between Slovenian and Turkey sample indicate significant differences in the four sub-dimensions of entrepreneurial curiosity.
Keywords: entrepreneurship; entrepreneurial curiosity; Z generation; gen Z; comparative analysis
Bruno Duarte Abreu Freitas
Universitat de Vic – Universitat Central de Catalunya, Spain
brunoduarte.abreu@uvic.cat
Ruth Sofia Contreras-Espinosa
Universitat de Vic – Universitat Central de Catalunya, Spain
ruth.contreras@uvic.cat
Pedro Álvaro Pere
Universidade da Madeira, Portugal
pacorreia@staff.uma.pt
Abstract
The purpose of this research was to identify the elements that facilitate or lead brands to acquire an improved brand image as a result of sponsoring esports. A conceptual framework was created and then improved by empirical data. This exploratory and quantitative research analysed 1,611 esports fans who were sampled through a non-probability purposive heterogeneous method. Empirical data was gathered through an online and closed-ended survey. Data showed that esports sponsorships provide seven main elements that benefit the sponsors’ brand image. The field of esports sponsorships has been largely ignored by academia. Hence, this research provides the first step in better understanding the benefits of sponsoring esports and creates a foundation for future studies to base themselves on. Knowing the main brand image-related benefits of sponsoring esports will promote the confidence of brands that are still reluctant about entering this new market.
Keywords: esports; sponsorship; brand image; marketing; branding
Balint Teleki
National University of Public Service, Hungary
teleki.balint@uni-nke.hu
Peter Sasvari
National University of Public Service, Hungary
sasvari.peter@uni-nke.hu
Anna Urbanovics
National University of Public Service, Hungary
anna.urbanovics@gmail.com
Abstract
The paper aims to provide an overview on the field of European Union agencification, a later trend characterizing EU’s policy agenda and functioning to a significant extent. EU agencies are responsible for a wide range of policies and an unavoidable element when testing EU’s legitimacy. In the paper, the research field of EU agencification is analyzed from a bibliometric aspect, quantifying the academic production, identifying the main publication and network patterns of authors, and defining the leading research directions by keyword analysis. Bibliometric metadata was collected from the Scopus international citation database, collecting the research output of 14 researchers participating in the TARN project (The Academic Research Network on Agencification of EU Executive Governance). The TARN project is an international research collaboration specially designed to study EU agencification process. Data was imported and analyzed using the software VOSViewer and Gephi. In total, 437 records were found. The findings indicated that the researchers participating in the TARN projects are the research group leaders, primarily coming from Western European countries. We found that the co-authorship network contains 13 communities and having the density of 0.787, while the co-citation network consists of 4 communities with a density of 0.39. Findings, implications, and suggestions for future research are presented.
Keywords: EU agencification; NPM; NWS; TARN; bibliometrics
Michal Beňo
Institute of Technology and Business in Ceske Budejovice, Czech Republic
beno@mail.vstecb.cz
Jozef Hvorecký
Institute of Technology and Business in Ceske Budejovice, Czech Republic
hvorecky@mail.vstecb.cz
Dagmar Cagáňová
Institute of Industrial Engineering and Management, Slovakia
dagmar.caganova@stuba.sk
Abstract
Covid-19 forced managers out of cubicles into their homes – to a face-to-display environment. To provide an insight into managers’ needs during the pandemic, the authors completed a survey addressing 900 Austrian, Czech and Slovak managers. A range of useful findings was uncovered, especially on how the managers approached the transition to e-working as well as their future perspectives after the epidemic. The results show favourable scores for e-management, modern technology and business communication, while maintaining informal communication seems to be problematic. Our data suggest that e-managers have come forward with novel and innovative types of collaboration. The data also reveal calls for better support. The greatest fear of managers, apart from concerns about families, friends, colleagues and acquaintances, is that their salaries may be cut. In general, they feel they can work at home as effectively as in the office. Women cope better with e-working than their male colleagues; parents and the young generation experience challenges working from home.
Keywords: e-working; e-management; manager perceptions; lockdown; Covid-19
VOLUME 12 (2021) - Number 2
Thi Thu Hieu Nguyen
Mien Trung University of Civil Engineering, Vietnam
nguyenthithuhieu@muce.edu.vn
Do Thi Thanh Nhan
Ton Duc Thang University, Vietnam
dothithanhnhan@tdtu.edu.vn
Le Kieu Oanh Dao
Banking University of Ho Chi Minh City, Vietnam
oanhdlk@buh.edu.vn
Quynh Nga Duong
Ho Chi Minh City Open University, Vietnam
nga.dq@ou.edu.vn
Abstract
The paper examines the relationship between dollarisation and economic performance, particularly focusing on the effects of dollarisation on macro variables for Vietnamese economy. Using the Vector Error Correlation Model (VECM) model, the paper exhibits two key relationships: (1) the relation between the dollarisation of deposits and the monetary variables under the impact of ceiling policy of deposit interest rates, (2) the relation between the dollarisation of loans and economic growth and exports. The paper concludes by offering some recommendations for the control dollarisation in the economy.
Keywords: dollarisation; currency; international trade; macroeconomics
Ploychompoo Kittikunchotiwut
Mahasarakham University, Thailand
ploychompoo.k@acc.msu.ac.th
Abstract
Strategic human resource management (SHRM) has emerged as a critical issue concurrently with businesses’ growing emphasis on strategy. Due to the increasing instability in its setting, the business’s response has been to establish a comprehensive internal structure that includes human resource management systems. The key to providing an efficient response is to have an HRM system adapted to strategic needs. This study attempted to investigate the relationship between strategic HR influences and improve organizational engagement and performance. A questionnaire survey was employed in this study, and approximately 406 firms participated. Employees from Thailand’s manufacturing sector were sampled for the study. Findings from our study revealed that administrations could help increase employees’ integration with the business by providing training, participation of the staff in planning and decision-making, and career growth opportunities that they drive observe to be advantageously aimed at them.
Keywords: strategic human resource management; organizational engagement; organizational performance
Boštjan Aver
GEA College – Faculty of Entrepreneurship, Slovenia
bostjan.aver@gea-college.si
Abstract
The aim of this paper is to give a brief insight on waste management today and tomorrow – focusing on applications, advantages and disadvantages, the progress and the sustainable future. Now more than ever the global community faces choices that can either lead us toward or away from a more peaceful and prosperous future. And the national waste management is one of the crucial areas where we can all contribute to come to the desired goal. On the basis of qualitative research which was done in the period 2018 – 2020 we give a critical view on different aspects of the waste management in Slovenia.
Keywords: waste management; sustainability; Slovenia
Damir Mihanović
University of North, Croatia
damir@mihanovicconsulting.com
Abstract
Human resources management is an important strategic branch in every industry owing to its specific task of talent management, selection of competences, employees’ knowledge and skills in order to achieve competitiveness in the market. The basic goals of human resources management are recognition of knowledge and skills and management of such information in coordination of employees in their work environment with the aim of employee growth and development which ultimately leads to growth and increased competitiveness in the market. Therefore, present-day human resources management is an important process of strategic management of a company as motivated and satisfied persons are the driving force of every company.
Keywords: human resources management; knowledge and skill; growth; competitiveness; market
Katarína Kubicová
Mendel University, Czech Republic,
xkubico2@mendelu.cz
Veronika Blašková
Mendel University, Czech Republic,
veronika.blaskova@mendelu.cz
Abstract
This paper deals with the identification of factors that influence the level of subjective well-being of the population in selected countries. The analysis is based on the data from 30 countries, which are classified into groups with similar characteristics by a cluster analysis. The paper then further examines the functional relationship between well-being and the presumed factors with the use of the multiple regression model (OLS method). The factors used for the analysis were the relevant economic and demographic indexes. The results of the regression analysis demonstrate that significant factors included the net income indicator and the risk of poverty rate. The obtained models also indicated a negative impact of the risk of poverty rate and a positive impact of the net income on subjective well-being below the designated level of significance.
Keywords: cluster analysis; multiple regression analysis; net income; risk of poverty rate; well-being
VOLUME 11 (2020) - Number 1
Mislav Ante Omazić
University of Zagreb, Croatia
momazic@net.efzg.hr
Damir Mihanović
University North, Croatia
damir.mihanovic@unin.hr
Adriana Sopta
INA, Croatia
asopta@gmail.com
Abstract
This paper refers to recognition of the specific organizational structure in a public enterprise, where the existing organizational culture is compared with the ideal culture, i.e., the culture that should support the achievement of strategic goals. The differences between the existing and the ideal organizational culture and their correlation were verified. The results show a statistically significant difference between the existing and the ideal culture, i.e., they show that there are statistically significant deviations among them. Apart from the comparison of the overlapping and deviations between the existing and desired (ideal) culture, the basic values/motives were analyzed on a sample of respondents who determine and implement the strategy of the organization. In order to clarify the changes that should occur in order to bring the existing organizational culture closer to the ideal, the dominant values were checked. It is interesting to see that the existing values of strategic managers are somewhat in line with the cultural ideal that the organization desires, but are not fully expressed in order that is expected to realize the desired changes in culture as well in strategic achievements.
Keywords: organizational culture; change management; organizational values, personal values
Namitha K Cheriyan
CHRIST, India
namicheriyan@gmail.com
Daniel Lazar
Pondicherry University, India
lazar.dani@gmail.com
Abstract
Empirical literature from developed stock markets identifies liquidity risk to have impacts on the price of a stock. Given this, using one-minute trade and quote data of fifty stocks constituting the NIFTY 50 Index, this study examines the pricing of liquidity risk in the Indian stock market. The study uses thirteen liquidity measures identified from literature that cover the cost, quantity, time and multidimensional aspects of liquidity. The innovations in the liquidity measures are considered as the proxy for liquidity risk. Employing Generalized Methods of Moments estimation, the study proves that Indian investors expect to have a premium for holding securities that are illiquid when the whole market is illiquid. It proves liquidity risk as a priced factor and thus validates the liquidity-adjusted capital asset pricing model in the Indian stock market. It cautions the investors that the liquidity shocks can have significant inferences on portfolio diversification strategies to be adopted.
Keywords: liquidity; liquidity risk; liquidity innovations; capital asset pricing model; liquidity beta; GMM
Krešimir Buntak
University North,Croatia
kresimir.buntak@unin.hr
Matija Kovačić
University North,Croatia
matkovacic@unin.hr
Ivana Martinčević
University North,Croatia
ivana.martincevic@unin.hr
Abstract
Changes in the organizational environment as an outcome require organizational changes. With the development of Industry 4.0, there is a need for digital transformation which is focused on digitizing business as well as in the automation of activities. To adapt the organization to the new conditions in an environment, it is necessary to develop organizational knowledge. Once created, knowledge should be managed and must be disseminated to all organizational levels. With the automatization of the organization system, there is a need for applying artificial intelligence that will manage implemented automated systems but will also manage created the base of knowledge. Furthermore, for the knowledge management organization may employ different models, but with the change in the organizational environments, there is a need for developing new models that will enable knowledge mining, management and dissemination of knowledge in the digital age. It is also necessary to mention security, which is crucial, as the digital age brings with it the challenge of being able to give others access to information in a violent way, which can violate the privacy and business secret of the organization.
Keywords: industry 4.0; digital era; knowledge menagement; organizational environment
Ayaz Ali Maitlo
Shah Abdul Latif University, Pakistan
ayazalimaitlo@gmail.com
Salman Bashir Memon
Shah Abdul Latif University, Pakistan
salman.memon@salu.edu.pk
Mahendar Kumar
Greenwich University, Pakistan
mahendarbajaj101@gmail.com
Abstract
The literature suggests that there is an existence of networking orientation relationship with respect to personality characteristics and entrepreneurial intentions, and that has been tested in different settings. But, this paper has examined the mediating relationship of networking orientation with respect to personality characteristics that lead towards entrepreneurial intentions in the context of Sindh Province, Pakistan. Hence, the six personality characteristics are taken as independent variables with respect to entrepreneurial intentions mediated by networking orientation. It is found that locus of control, propensity to take risk, need for achievement and innovativeness has shown positive and significant relationship but self-confidence and tolerance to ambiguity has shown significant but negative relationship. The data collected from 250 shopkeepers, those having maximum five employees belonging to three cities Khairpur Mir’s, Sukkur and Shikarpur Sindh. The researcher then tested hypothesized theoretical model by employing Structural Equation Model (SEM). Ultimately, it implies through this study that entrepreneurs have to focus on networking orientation because this can contribute positively in enhancing entrepreneurial intentions as predicted by personality characteristics of entrepreneurs.
Keywords: entrepreneurial personality characteristics; entrepreneurial intentions; networking orientation; small scale business; structural equation model
Arben Sahiti
University of Gjilan “Kadri Zeka”, Republic of Kosovo
arben.sahiti@uni-gjilan.net
Arbana Sahiti
University of Prishtina, Republic of Kosovo
arbana.sahiti@uni-pr.edu
Rina Zeqiri
University of Prishtina, Republic of Kosovo
rinazeqiri95@gmail.com
Abstract
The purpose of this research is to analyse the determinants of foreign direct investment (FDI) in Kosovo via extensive review of existing research studies, and via the development of a multiple regression model for identifying key determinants of FDI in Kosovo from 2005 to 2018. Ordinary Least Square (OLS) is the main method used to identify statistically significant determinants of FDI in Kosovo, and the importance of these determinants. Potential FDI determinants are tested at the 5% level of statistical significance. The empirical results find that corporate tax rate, wages, GDP growth rate and interest rates are the determining factors in attracting FDI to Kosovo.
Keywords: foreign direct investment; determinants; OLS model
Pham T. Nghia
Peoples’ Friendship University of Russia, Russia
Tan Trao University, Tuyen Quang, Vietnam
phamnghiatc@gmail.com
Tatiana K. Blokhina
Peoples’ Friendship University of Russia, Russia
blokhina.pfur@ro.ru
Abstract
The article makes an assessment about the efficiency of Vietnamese stock market in the period 2015-2018. The analysis showed that the Vietnam’s stock market did not achieve the weak form of efficiency, indicating the low level of information transparency there. A main reason is that the enterprises had not performed their obligation of information disclosure properly and fully and the quality of published information is inaccurate. Therefore, the government should take appropriate measures to improve the efficiency of the stock market in future.
Keywords: Vietnamese stock market; market of weak form of efficiency; time chain of random walk
VOLUME 11 (2020) - Number 2
Andrej Pompe
GEA College, Slovenia
andrej.pompe@gea-college.si
Manca Rizvič
GEA College, Slovenia
manca888@gmail.com
Abstract
The brand has an impact on the consumer, on his perception of product quality and the expected user experience. In the present study, we investigated the impact of the brand on consumer’s perception of taste and energy efficiency of tested energy drinks and wanted to confirm the impact of irrational (emotional) perception of taste quality of tested energy drinks and their energy efficiency. The testes were users of energy drinks and were familiar with the energy drinks they tested. Their decisions relied solely on their own experience and knowledge. We investigated the impact of properties that are not related to product components and confirmed the assumption that these properties play an important role in developing a competitive advantage. A study of S-Budget, Monster and Red Bull energy drinks showed the influential power of the brand in all cases. It also demonstrated how the perception of the taste quality and energy efficiency of the tested beverages is affected by the shape of the glass in which a particular brand is tested.
Keywords: brand; perception; taste quality; energy efficiency; energy drink
Hasnan Baber
Woosong University, South Korea
h.baber@endicott.ac.kr
Abstract
Crowdfunding has broken the barriers between an aspiring entrepreneur and financial markets. Kickstarter, a leading crowdfunding platform, which works on the ‘all-or-nothing’ model, provides various facilities to the project owners to gather the funds from the contributors in return of a reward. The facts signify that most of the projects fail to reach the funding goal. This study sampled 200 successful projects randomly by quota sampling from each category to assess commonalities in the successful projects on Kickstarter. The study assessed the marketing appeals, video presentation, shipment facilities, and project owner details to check the commonalities among successful projects. The results revealed that although rational appeals generate more funding, however, emotional appeal is widely used in successful projects. The paper will be helpful for the fundraisers to know the recipe for a successful project and to funders to enhance their chance of exceeding the funding goals.
Keywords: crowdfunding; kickstarter; reward-based; appeals; emotional; rational
Ana Globočnik Žunac
University North, Croatia
agzunac@unin.hr
Petra Ercegovac
University North, Croatia
peercegovac@unin.hr
Valerija Vidović
University North, Croatia
valerija.vidovic13@gmail.com
Abstract
NLP (neurolinguistic programming) is a communication methodology used in a business environment with the goal to improve the potential of employees and is focused on achieving quality communication, removing barriers, building confidence and creating better interpersonal relationships. NLP was proven to be a method that facilitate communication in a business environment, in order to avoid conflicting stressful situations and achieve greater business results. The paper presents scientific study of 150 respondents – employees in the Republic of Croatia and their attitudes towards the acceptability of the methods of neurolinguistic programming in business. An online questionnaire was constructed for the purpose of the research. The research had the goal to find answers whether respondents in Croatia find NLP method acceptable for use in business environment and what rae the differences in their opinion according to their personality, familiarity with the NLP topic, level of education and depending on how long they have been employed. Employees show willingness to adopt new work techniques to improve their work efficiency. Even though the trend analysis of the results indicates there are some possible differences between the respondents based on stated factors, the research involved smaller and uneven group of respondents.
Keywords: NLP, communication tools, business communication, quality business communication system
Ivan Kirsanov
P.G. Demidov Yaroslavl State University, Russia
investing.kir@gmail.com
Parfyonova Lyudmila
P.G. Demidov Yaroslavl State University, Russia
mila.pparfenova.2020@mail.ru
Abstract
The article is devoted to features of household financial behavior at the macroeconomic level. The aim of the article is to explain this household behavior through the behavioral financial effects. Thanks to a comprehensive study of scientific publications, it has been found that there are practically no works on the macroeconomic analysis of behavioral qualities. Much attention is given to analysis of statistical data from Rosstat and the Central Bank of the Russian Federation for 2008-2020. The wide range of indicators is used to show the financial condition of households and identify the features of their behavior in Russia. In conclusion, it is evident that this study has shown the deviation of Russian households from a rational model of behavior. They financed consumption with loans, while actively creating savings. As a result, a situation of stagnation has developed with a significant increase in the credit load.
Keywords: household financial behavior; behavioral financial effects; behavioral economics; Behavioral theory; the rational model of behavior
Miguel Gil
Tecnologico de Monterrey, Mexico
m.gil@tec.mx
Mauro Rodriguez-Marin
Tecnologico de Monterrey, Mexico
mauro.rodriguez@tec.mx
Miguel A. Montoya
Tecnologico de Monterrey, Mexico
mmontoya@tec.mx
Abstract
Organizations that efficiently complete a demand planning process gain a competitive advantage. The current demand planning literature mostly studies relatively large organizations. However, SMEs invest a significant amount of resources into improving demand planning practices. Moreover, the context of SMEs in Latin America, and specifically Mexico, has not been explored sufficiently by the current literature. Thus, the purpose of this paper is to understand demand planning in a Mexican SME. The paper involves a case study of a confectionery firm based in Jalisco, Mexico. To make sense of the empirical findings, the Kilger and Wagner (2008) theoretical framework of demand planning was utilized. This paper concludes that Mexican SMEs have a different context compared to larger firms in developed countries. Thus, how Mexican SMEs envision and implement demand planning is unique, specifically in demand planning structures and controlling.
Keywords: demand planning; manufacturing; small and medium enterprises; Mexico
Ratko Božić
University of Zadar, Croatia
ratko.bozic@ssm.hr
Damir Mihanović
University North, Croatia
dmihanovic1@gmail.com
Anđela Radić
University of Split, Croatia
andela.radic@gmail.com
Abstract
This paper discusses specific properties of external mechanisms of corporate governance in maritime companies. The goals of the paper are to clarify modern organisation and corporate governance, and to demonstrate internal mechanisms of corporate governance in a maritime company. The case study, selected to demonstrate the corporate governance mechanisms in the maritime industry, is related to Group Jadroplov d.d., located in Split, Croatia. The case study presents good corporate governance practices, which could serve as a benchmark within the industry and shows the external influences to the company considered.
Keywords: corporation; management; internal mechanisms; case study; Croatia
Saša Zupan Korže
Vanadis, Slovenia
sasa.zupan@vanadis.si
Mateja Škabar
National Review Commission, Slovenia
mateja.skabar@gmail.com
Abstract
Temporary suspension of travel and hospitality due to Covid-19 pandemic affected tourism sector particularly hard. One of the most affected areas were small tourism businesses, which provide essential part of the tourism services. The main purpose of this paper is to synthesise the major themes related to tourism and small businesses in this sector in the first few months of Covid-19 pandemic. Data were collected in integrative review of secondary sources published in 2020. Eleven key topics have been distilled from the content analysis: freedom of mobility, people’s health, economic downturn, small tourism businesses in stress, recommendations for thier survival predictions for tourism recovery, economic measures of EU and the Member States to support tourism revival and rethinking the tourism. The results provide a condensed review of the events and actions of relevant institutions triggered by the Covid-19 pandemic and their consequences to tourism and tourism service providers.
Keywords: Covid-19 pandemic; tourism; small businesses in tourism; SMEs; SMTEs
VOLUME 10 (2019) - Number 1
Ivana Grabar
University North,Croatia
ivana.grabar@unin.hr
Ana Globočnik Žunac
University North,Croatia
ana.globocnik.zunac@unin.hr
Sanja Zlatić
University North,Croatia
sanja.zlatic@unin.hr
Abstract
Keeping an expert satisfied is becoming a primary managerial task since more and more people decide to become independent employees or freelancers. Therefore, the question arises: What are organizations ready to do in order to keep them? The purpose of this paper is to explore what employers are willing to do in order to keep an employee who has been working in a key position in the company and has decided to quit and start working as a freelancer. The aim is to investigate whether the company’s attitude depends on the size of the company, the area in which it operates, the county where its headquarters are, or their previous experience in hiring a freelancer. The research was conducted in Croatia in June 2018. The results show that employers are aware of the problem. They are to some extent ready to motivate experts with various motivation factors.
Keywords: HRM; managing experts; motivating experts; motivating talents
Nexhat Shkodra
University of Gjilani “Kadri Zeka”, Republic of Kosovo
nexhat.shkodra@uni-gjilan.net
Xhevat Sopi
University of Gjilani “Kadri Zeka”, Republic of Kosovo
xhevat.sopi@uni-gjilan.net
Myrvete Badivuku-Pantina
University of Prishtina “Hasan Prishtina”, Republic of Kosovo
myrvete.badivuku@uni-pr.edu
Abstract
The purpose of this paper is to establish that FDI has impact on improving some of the macroeconomic indicators influencing the economic development of transition countries, as well as Kosovo. In this paper, will be evaluated the impact of FDI on economic growth, income, labor and exports. The econometric model is based on linear regression (OLS), where each of the mentioned factors were tested with the same model, separately. The data were received by the Kosovo Agency of Statistics for the period 2004-2017. The results show that FDI has a positive impact on the economic growth of the current year with a 1% significance level (p = 0.0023), a positive impact on GDP growth per capita, lagged one year at a significant 10% (p = 0.0729); a positive impact on the export growth of the actual year with a significance level of 5% (p = 0.0105). As far as the impact of FDI in employment, the results are non-significant.
Keywords: foreign direct investment economic growth; OLS models; transition countries; Kosovo
Vesna Sesar
University North, Croatia
vesna.sesar@unin.hr
Krešimir Buntak
University North, Croatia
kresimir.buntak@unin.hr
Ivana Martinčević
University North, Croatia
ivana.martincevic@unin.hr
Abstract
Due to the growing importance for achieving better quality in products and services, many organisations have adopted quality Standards into their everyday practice. Some authors stated decades ago that quality is free, and today many organizations are trying to sustain competitiveness by raising quality in every aspect of their organizations. The paper presents a literature review on quality maturity and how it can be measured.
Keywords: foreign direct investment economic growth; OLS models; transition countries; Kosovo
Valeria Vannoni
University of Perugia, Italy
valeria.vannoni@unipg.it
Abstract
The size and degree of innovation of a company strongly affect its profitability and financial structure: literature has extensively investigated the causal links between innovation and profitability of firms; moreover, many authors have studied the peculiarities of the financial structure of innovative companies. In both topics, however, the conclusions are not unambiguous. The paper aims to make a contribution to reducing the literature gap providing further evidence on these issues by evaluating Italian small and medium-sized innovative enterprises (SMEs). The case of Italy was considered as an example of the introduction into the legal system of a country of a specific entity for innovative companies. The study presents the main structural data referring to these firms, based on last updated statistics by the Italian Innovative Business Register (1,024 firms). This verification was furthermore deepened using the tools of balance sheet and profit and loss account analysis of innovative SMEs, with available data for the period 2010-2017 on Orbis database by Bureau Van Dijk (433 firms). The results confirm the reversal of the traditional hierarchy of funding sources for innovative firms, as firstly theorized by Berger and Udell; profitability is negative, according to literature underlining that innovation is positively associated with turnover and employment growth, but not necessarily with higher profitability. This also confirms that the benefits of innovation can be appreciated in a medium-long term period.
Keywords: innovative firms; capital structure; firm performance
VOLUME 10 (2019) - Number 2
Andrej Pompe
GEA College, Slovenia
andrej.pompe@gea-college.si
Abstract
Quantitative and qualitative elements define urbanism. They have an important role in the process of designing the image and the perception of the city and its brand. Modern cities evolve rapidly and compete intensely to project an attractive visual image and then link it to cultural and economic activities. Qualitative urbanism elements define the quality of living in a city and directly affect human perception of space. They produce feelings and generate attitudes. They strongly influence on the image and the perception of a city and its brand. Feelings of comfort come from a total perception of our environment and are the result of a synthesis of objective and subjective feelings. The purpose of this paper was to evaluate some important indicators of qualitative urban elements and evaluate them according to city residents’ and city visitors’ responses in Slovenia: context, accessibility, variety, readability, flexibility, visual suitability and diversity. Results represent their recognition of indicators that have the biggest (and the weakest) impact on designing the city and building perception of its brand: values, living conditions and environmental balance.
Keywords: city; perception; urbanism; city brand; qualitative urbanistic elements (QUE)
Leonora Haliti Rudhani
University of Applied Sciences in Ferizaj, Republic of Kosovo
leonora.rudhani@ushaf.net
Driton Balaj
University of Pristina “Hasan Prishtina”, Republic of Kosovo
driton.balaj@uni-pr.edu
Abstract
This paper aims to study the impact of liquidity risk on the performance of banks in Kosovo, for a period of six years. The analysis is based on linear regression. Liquidity risk indicators refer to the ability of the bank to absorb the liquidity shocks, L2 – the ability of the bank to cope with a high liquidity demand in the short term and L3 – the ability of the bank to face liquidity risk in the presence of non-liquid assets, while return on assets ROA and return on equity ROE are the determinants of performance. The results show that there is a positive and significant relation between liquidity risk and performance of the banks and concluded that commercial banks in Kosovo could raise the level of performance by improving their ability to cope with the liquidity shocks risk, the short-term liquidity risk and the risk from the presence of large non-liquid assets.
Keywords: performance of the banks; liquidity risk; commercial banks
Natalia Kondrashova
Kaluga branch of the Financial University, Russia
kondrashova.fa@mail.ru
Tatyana Lesina
Kaluga branch of the Russian Presidential Academy of National Economy and Public Administration, Russia
lesina.rpa@ya.ru
Kirill Titov
Kaluga branch of the Financial University, Russia
titov.kfu@ya.ru
Abstract
Due to the economic changes of Russian Federation, internal control still retains its relevance. The article focuses on the need to improve the efficiency of the created internal control systems in the direction of managing risks of the established rules violations and accounting and financial data misrepresentations. Analysis of the concept of internal control from two methodological points of view allows defining internal control and further considering it as an independent system built into the process of corporate management. Incorporating risk management into the internal control process forms the concept of a risk-targeted internal control system. Following the integrated structure of internal control developed by COSO, the requirements and recommendations of the Russian regulatory legal acts, a model of a risk-oriented internal control system of a commercial organization, represented by an external and internal structure, is proposed. A key element of the internal structure of this system is risk assessment, which involves considering all the facts of economic life through the prism of risks. This allows the organization to develop internal control procedures for all risks of the established rules violations and accounting and financial data misrepresentations and depict them on the risk map. In the course of compiling the risk map, the process of identifying the risks of distortion of the facts of economic life by business processes was specified and an algorithm for the formation and its documentation was proposed. Our study contributes to the existing literature and allows to fill the gap in terms of the practical implementation of improving the system of internal control of commercial implementation, taking into account the modern requirements for its implementation.
Keywords: internal control; internal control system; internal structure; risk of the established rules violations and accounting and financial data misrepresentations; risk map
Gulbakhor M. Makhkamova
Tajikistan Academy of Sciences, Tajikistan
Khabibullo Saidmurodov
Academy of Sciences of the Republic of Tajikistan, Tajikistan
Abstract
The purpose of the paper is to study the use of financial technologies by women in the financial market of Tajikistan, to identify existing barriers and drivers for expanding opportunities through financial technologies to increase the level of financial inclusion of women in the Republic of Tajikistan. The main method of research is a sociological survey on the level of use of financial technologies in the Republic of Tajikistan. In addition, we used the methods of systematization, generalization and graphical presentation of the data to analyze the results of the survey. The levels of use of financial technologies by men and women were compared; it has been found that they vary significantly. In addition, there is a gap in the understanding and use of financial technologies depending on the place of residence (urban/rural). The expansion of digital financial services can, therefore, identify opportunities for continuation and challenges that need to be addressed in promoting women’s financial inclusion and economic empowerment.
Keywords: financial services; gender aspect; financial inclusion; economic empowerment; technological integration
Martyna Kostrzewska
University of Szczecin, Poland
martyna.diana.kostrzewska@gmail.com
Daria Wrukowska
University of Szczecin, Poland
dariawrukowska@gmail.com
Abstract
The purpose of this paper is to evaluate the level of satisfaction of e-service customers through identification of gaps between customer expectations and the degree to which such expectations are met by providers of online services. Towards this end the e-servqual method was employed, which enabled the measurement of customer expectations as to the quality of key aspects of online services relative to the actual degree to which customer expectations were met. This survey shows how respondents perceive the quality of online services and their preferences in this respect. Based on the seven dimensions of the e-servqual scale, i.e. contact, efficiency, reliability, fulfilment, privacy, responsiveness, compensation (Parasuraman, 2013), the present author proposed her own measures of e-services quality.
Keywords: e-servqual; customer satisfaction measurement; quality of e-services
VOLUME 9 (2018) - Number 1
Saša Zupan Korže
GEA College, Slovenia
sasa.zupan@gea-college.si
Sonja Sibila Lebe
University of Maribor, Slovenia
sonjasibila.lebe@um.si
Abstract
Entrepreneurship penetrates all spheres of the economy and life in general. It develops in a particular business environment, which looks for developmental opportunities. Within this environment, a wide spectre of factors is at work: social, cultural and political. These factors can promote or discourage entrepreneurial activities. In this process, state mechanisms play an important role. The main purpose of this paper is to get insight into how the entrepreneurs in small hotels (SH) in Slovenia asses the business environment for running small hospitality businesses. Empirical research was conducted in Slovenia in 2014 and 2015. The data were collected from SH entrepreneurs and SH directors during 62 semi-structured interviews. We analysed data with qualitative methods: interpretation, comparison, grouping, quantification. The results of the research provide a clear insight about major issues that Slovenian entrepreneurs have to face in the business environment when running their SH. They are – at certain points – consistent with findings in other countries. The research can assist the state institutions to implement certain measures and mechanisms to improve institutional framework for entrepreneurship.
Keywords: entrepreneurship; hospitality; small hotels; business environment
David J Stubley
Harper Adams University, United Kingdom
13217600@harper-adams.ac.uk
Dimitrios Paparas
Harper Adams University, United Kingdom
dpaparas@harper-adams.ac.uk
Ourania Tremma
Harper Adams University, United Kingdom
otremma@harper-adams.ac.uk
Luis De Aguiar
Harper Adams University, United Kingdom
ldeaguiar@harper-adams.ac.uk
Abstract
The main aim of this article is to investigate the price transmission of milk between the producers and the retailers within the UK to understand the influence of large retailers on the market. In recent times smaller dairy farms have been forced to close down because they believe that prices are not being conveyed from retailers to producers. The research interlinks well-established econometric tests, which are frequently used within vertical price transmission research to gain an understanding of the transmission from producer to retailer. These are unit root tests, cointegration tests and causality test. The main findings were that there is a unidirectional transmission of milk prices in the UK between producers and retailers. The Granger causality test shows that causality runs from the retailer to the producer and but not from the producer to the retailer. There was a significant break in 1994, which is when the MMB disbanded and has provided a new research gap. The direction of causality means that when producers are losing out to large retailers. The ECM results indicate that the prices are slow in recovering to a new equilibrium after a shock has occurred. Research specifically on the UK milk market is limited and therefore this research is a basis for future studies, which will help policy makers when moving forward post brexit.
Keywords: price transmission; retailer; producer; milk
Vladimir Bukvič
GEA College, Slovenia
vladimir.bukvic@gea-college.si
Abstract
As in the business world where practically every large investment project decision is supposed to undergo a preliminary economic justification procedure, other fields’ investment decisions must also be taken into consideration. The sponsoring of sport events or sports clubs all through the year by companies in the private sector is one of such investment decisions. It would be reasonable and justifiable for such investments (financial support to sports clubs) to be assessed from an economic perspective as well. For assessing and measuring such benefits, an appropriate method called the cost-benefit analysis can be used. The purpose of this paper is firstly, to briefly present the theoretical frame of this technique based on a literature review, especially in the field of organizing and funding sports events, and secondly, to apply this cost-benefit analysis empirically to a particular case. A company X and its sports club (they wish to remain anonymous) have been chosen. The data applied in this case is real. For this particular case, the author states two research hypotheses, one regarding the economic justification of investments like sponsoring sports club, and one regarding the usefulness of the cost-benefit analysis as an appropriate tool for such decision making. In the end, the major findings from the empirical case are summarized and some new starting-points for further research in this field are given as well.
Keywords: cost benefit analysis; opportunity cost; net present value; social responsibility; sponsoring sports club
Ajda Fošner
GEA College, Slovenia
ajda.fosner@gea-college.si
Mitja Jeraj
GEA College, Slovenia
mitja.jeraj@gea-college.si
Abstract
The aim of this paper is to study entrepreneurial intention among Slovenian students. In particular, we present some of the findings of The Global University Entrepreneurial Spirit Students’ Survey which was carried out in 2016 in Slovenia. Utilizing a sample of 1031 Slovenian students, we used structured questionnaire to investigate entrepreneurial spirit among graduate and postgraduate students in Slovenia. The results show that only 7,1% of Slovenian students intend to set up their own business immediately after the completion of studies. On the other hand, almost one third (33,2%) of respondents want to get self- employed in the period of five years.
Keywords: entrepreneurial spirit; students’ survey; Slovenia
VOLUME 9 (2018) - Number 2
Ana Globočnik Žunac
University North, Croatia
agzunac@unin.hr
Abstract
The paper starts with the assumption that academic communication is the basis for achieving a high level of expertise in the field of any activity, including in the field of business and management. Only highly qualified employees can contribute to the positive changes and sustainability of the organization. Expertise is achieved in the academic milieu before gaining practical experience. For academic achievement it is important to have knowledge, managing and understanding of academic communication. Paper sets the frameworks by determining what belongs to the field of academic communications that is far more than written and oral skills themselves. It includes academic behavior based on ethical norms, developing the ability of discursive analysis, evaluation, prioritization and developing a logical thinking based argumentation. The aforementioned contributes to the development of the image of an individual-expert, his persuasiveness and professional authority. The paper presents a case study of a process of introducing Academic Communication within Business and Management studies based on the results of a pilot study on knowledge of basic academic communication skills required for later acquisition of business and management expertise.
Keywords: academic communication; academic behavior; argumentation; business communication; managers’ functions; managers’ competencies
Michael Nyong
University of Calabar, Nigeria
nyongmike@gmail.com
Abstract
An important challenge to development policy making in Sierra Leone is the conspicuous absence of credible statistic and systematic evidence on the underground economy. Despite of the fact that activities of the underground economy are wide ranging knowledge of the size, trends, causes, and dynamics of the underground activity are scanty and remain inadequate. In this study an attempt is made to estimate the size of the underground economy of Sierra Leone for the period 1960-2015, and investigate the implications for macroeconomic policy. The results revealed that the relative size of the underground rose from 58.8% in 1960 to 62.05% in 1968, fell slightly to 58.2 in 1980, rose sharply to 75% in 2000 and fell moderately to 73.9% in 2015. The mean size of the underground economy was estimated at 64.97%. The relative size was fairly stable at 60% between 1960-1989, rose rapidly to 71.9% on average during the civil war years 1990 -2001 and fell marginally to 69.2% during the period 2002-2015. The mean tax evasion was estimated at 4.34% of GDP. The estimated value for extent of tax evasion is large and should not be ignored given that the actual mean tax revenue during the period was about 11.36% of GDP. The results revealed cointegration between formal GDP and underground economy GDP. Causality test between the formal economy and the underground economy indicates bi-directionality with causality running from both ways (from RGDP and URGDP). The policy implications of the study were also articulated. Overall, the estimates for the underground economy in Sierra Leone are considerably larger than those obtained for other African countries (Zimbabwe 30.35% 1980-2009, Tanzania 36.93% 1968-990, South Africa 9.5% 1966-2002, Ghana 40% 1983-2003). This is not surprising given the collapse of infrastructure and other formal support services arising from more than a decade long civil war.
Keywords: underground economy; macroeconomic policy; Sierra Leone
Pave Ivić
University of Applied Sciences Baltazara Zaprešič, Croatia
pave.ivic@bak.hr
Ivan Protega
University of Applied Sciences Baltazara Zaprešič, Croatia
ivan.protega@bak.hr
Abstract
Gastronomy is an important form of cultural distinctiveness of a country. In the age of selective forms of tourism, more attention is paid to emphasising a country’s indigenous gastronomic offer. The island of Pag is since long ago known as an island of sheep breeding. Due to its geographic location directly beneath the Velebit mountain, agroecological factors for pasture are quite unique. North wind from the Velebit mountain (“bura”) spreads sea salt all over pasturages, and as a result, both sheep milk and cheese from Pag have distinctive traits. The signs “Croatian Quality” and “Croatian” on these products from the island of Pag imply Croatian autochthonous tradition. Besides the well-known and renowned Pag cheese, gastronomic offer also includes lamb, cottage cheese and other produces, which makes this island an exceptional and rich gastro-destination. The purpose and result of this research on the island of Pag is to obtain the guidelines for development
Keywords: gastronomy; island of Pag; Croatia
Ajda Fošner
GEA College, Slovenia
ajda.fosner@gea-college.si
Jani Ivan Toroš
GEA College, Slovenia
jani.toros@gea-college.si
Abstract
Although the use of color in promotional advertisements is ubiquitous in the market, little is known about the impact of color on price perception. The aim of this paper is to present the results of a study made in Slovenia which assessed the impact of four colors on consumers’ perceptions (blue, red, green, and black). We collected data with specially designed questionnaire in October 2018. We used the choice based conjoint analysis to evaluate the influence of price color on consumers. We found out that prices written in blue have the highest preference. We also expected that red prices are more attractive. However, the results of our research showed the opposite. At the end, theoretical and practical implications are discussed.
Keywords: pricing; price perception; color
VOLUME 8 (2017) - Number 1
Xhevat Sopi
University of Gjilani Kadri Zeka, Republic of Kosovo
xhevat.sopi@uni-gjilan.net
Abstract
The purpose of this paper is to determine whether the dairy consumers in Kosovo make a clear distinguish between safety and quality attributes, which is the impact of socio-demographic factors, and if the recognition of these attributes has an impact on willingness to pay (WTP) price premium for food safety standards. The observation was conducted with 303 consumers of Viva Fresh Store supermarkets. The results show that 90% of the respondents mix the safety concept with the one of quality. Factors like: education level, incomes and the place of residence have a significant correlation (p<0,05) with the variable of concepts clarity. Test Chi Square shows that WTP variations are not dependent in terms of clarity between two concepts (p>0,05). The most number of consumers (74,8%) are WTP for premium price on food safety standards. The assessment on food safety, at a certain degree is “high” or “very high” (48,83%).
Keywords: food safety; willingness to pay; quality attributes; socio-demographic factors
Andrej Pompe
GEA College, Slovenia
andrej.pompe@gea-college.si
Abstract
Cities have always been trying to create certain attractions in order to flow together different kinds of capitals like financial, human resource, investment, economics, free time, educational, energetic, cultural, social, and other capitals. Expansion of cities causes the outgrow of their historically known scales. Increasing complexity demanded deeper consideration about the city position in the competitive environment. This is why cities began to use marketing tools and more and more implement praxis of brands and branding while positioning their cities among competitors. One of three most important component of city brand perception is values (besides perceived attributes and personality characteristics) which create perceptual dimensions, meaning shaping city’s brand position in the eyes of stakeholders. This paper focuses on values and their impact on the city brand perception. A qualitative research study of five Slovene cities: Ljubljana, Maribor, Celje, Koper, and Nova Gorica, was conducted. Research displayed an immense difference in perceptions among explored city brands and showed a significant impact of values to their competitive position. The existent research can stimulate city managements to explore perceptions of their cities.
Keywords: perception; city brand; values; city brand position; competition among cities
Mark Wever
University of Latvia, Latvia
mark.wever@gmx.de
Abstract
As findings for the Asian air travel market show, across all market segments frequent flyer programs can have a positive effect on airline loyalty (Chang & Hung, 2013, p. 29). At the same time, while these customer loyalty programs are in wide use in the airline industry, whether these programs can bestow durable competitive advantage remains debatable (Martín et al., 2011, p. 364). Similarly, studies on customer loyalty programs indicate that, despite their popularity, these programs do not have an unequivocal effect on customer behavior, which is likely to limit their effectiveness (Dorotic et al., 2012, p. 217). Therefore, the impact of frequent flyer programs on behavioral and affective customer loyalty, such as in the form of customer retention, and company performance demands further research, due to lacking scholarly consensus on either the positive or the negative influence of these programs on competitive advantage in the airline industry.
Keywords: airline industry; frequent flyer programs; customer loyalty; customer retention; consumer behavior
Enoch Okomfo Okonah
Global media foundation Ghana, Ghana
yodae1982@yahoo.com
Abstract
The development of capital markets has become very crucial for government officials as a new tool to boost economic growth. Indeed, the desire of every government or any focused entrepreneur is to embark on a massive capital intensive projects which however lack the needed financial muscles thereby shifting attention to the capital market to mobilize funds for such purposes. This paper seeks to explore the impact of capital market development on economic growth using a time series panel data spanning from the period of 1991 – 2014. In the study we used stock market (market capitalization) and venture capital funds to represent the capital market and the Gross Domestic Product (GDP) for the economic growth. In terms of data analysis, only the stock market proxy by market capitalization is used to represent the capital market whiles narration was done on the venture capital.
Keywords: capital market; economic growth; Ghana stock exchange
VOLUME 8 (2017) - Number 2
Florin Teodor Boldeanu
Lucian Blaga University of Sibiu, Romania
boldeanuflorinteodor@yahoo.com
Lenuta Boldeanu
National University of Music Bucharest, Romania
boldeanulenuta60@yahoo.com
Abstract
Regions have different characteristics and level of development starting from infrastructure, industry, tourism, services or taxations. This is why this investigation aims to find the most important determinants of regional economic growth in the European Union. The sample date was collected for 98 NUTS 1 and 271 NUTS 2 regions with a time frame of 14 years (2000-2013). To obtain the results for the two models used, the paper utilized the QML estimation. The results showed that labour productivity, employment, energy consumption, life expectancy are positively influencing growth, and that government debt and early leavers from education hinder growth.
Keywords: regional economic growth; QML estimator; NUTS 1; NUTS 2
Azra Bajramović
Džemal Bijedić University of Mostar, Bosnia and Herzegovina
azra.bajramovic@unmo.ba
Abstract
This paper explores relative importance of some firm-specific determinants of leverage for the firms in Bosnia and Herzegovina. In order to explore which determinants are important and what is the nature of their influence, data on firms listed in two stock exchanges in Bosnia and Herzegovina for 5 years period were taken. The effect of tangibility, profitability, firm’s size, non-debt tax shield and growth on leverage was tested. The results show statistically significant positive influence of tangibility and non-debt tax shield on firms’ leverage and negative effect of size which is opposite to results for other transition economies. The results of regression models also show that significance of some factors and nature of their influence differs for firms listed in different stock exchanges.
Keywords: capital structure; leverage; firm-specific determinants; transition economies
Ajda Fošner
GEA College, Slovenia
ajda.fosner@gea-college.si
Darja Kobe Govekar
Ministry of Defence, Slovenia
darja.kobe.govekar@gmail.com
Abstract
The aim of this article is to present the mathematical – statistical method VaR (Value at Risk) on the case of real estates. With the method VaR we predicted movements of the prices of real estates in Slovenia, France, Greece, Poland, and Norway. According to the results provided with the method VaR, the volatility of residential properties is different in each observed environment, but it is everywhere negative. In the short term (six months), we can expect minimum reduction of the prices of real estates in Greece (in Athens and other major cities) and the maximum reduction in Poland (in Warsaw and other major cities). Even in the long term (3 years), we can expect the smallest drop of prices in Greece and the largest in Poland.
Keywords: mathematical – statistical research methods; VaR; real estate
Elisa Kallio
University of Turku, Finland
elisa.kallio@utu.fi
Peter Zettinig
University of Turku, Finland
peter.zettinig@utu.fi
Abstract
Developing a dynamic-strategy perspective, which considers strategizing as practice rather than an outcome, we are able, applying case studies, to capture processes that explain how common cognitive frames are constructed, altered, tested through actions and re- constructed. Capturing several iterations of these processes allow us to understand how new strategy emerges from actors’ strategizing scattered across the organization and how it eventually becomes part of the formal strategy of a multinational corporation. These findings add to the understanding of strategizing as bottom-up social processes that form new meaning, structures and actions.
Keywords: strategy-as- practice; collaborative action research; strategizing; sensemaking