rss_2.0Economics and Culture FeedSciendo RSS Feed for Economics and Culturehttps://sciendo.com/journal/JEChttps://www.sciendo.comEconomics and Culture Feedhttps://sciendo-parsed.s3.eu-central-1.amazonaws.com/64721228215d2f6c89dbab75/cover-image.jpghttps://sciendo.com/journal/JEC140216Do Cultural Activities and Happiness Matter to the Tourism Sector?https://sciendo.com/article/10.2478/jec-2024-0007<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose.</title> <p>The primary goal of this research is to determine the impact of the efficiency of the tourism sector in the European Union (EU).</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach.</title> <p>The analysis involved 25 selected EU countries using Data Envelopment Analysis (DEA) and the Tobit regression modelling. For DEA expenses according to the stays per visit (1 night or over) when going to a foreign country, individuals actively working in the tourism industry and tangible heritage inscribed on the United Nations Educational, Scientific and Cultural Organisation (UNESCO) are used as inputs and inbound tourism as an output. Variables for the Tobit model were as follows: cultural activities, Happiness index and tourist expenditure of Gross Domestic Product (GDP).</p> </sec> <sec><title style='display:none'>Findings.</title> <p>In nations characterised by lower efficiency levels, policymakers ought to enhance their strategies and encourage the advancement of their country's appeal to tourists. Additionally, there should be an increased emphasis on enhancing the well-being and happiness of the local population.</p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications.</title> <p>Theoretical research on the efficiency of the tourism sector in the EU lacks comprehensive studies that systematically examine the factors influencing efficiency across diverse EU member states. Although some research exists on specific aspects of tourism efficiency, such as environmental sustainability or economic impacts, there is a scarcity of holistic investigations that encompass various dimensions of efficiency, including resource utilization, infrastructure development, policy effectiveness, and socio-cultural impacts, within the EU's overarching context. Moreover, there is a limited exploration of potential variations in tourism efficiency among different EU regions and the underlying factors driving these differences. Bridging this research gap could offer valuable insights for policymakers, industry stakeholders, and academics seeking to enhance the overall efficiency and sustainability of the tourism sector in the EU. The study’s constraint lies in the exclusion of Denmark and Luxembourg, which is attributed to insufficient statistical data.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00072024-06-20T00:00:00.000+00:00Does Economic Complexity Influence Carbon Emissions? Evidence from Next Eleven Countrieshttps://sciendo.com/article/10.2478/jec-2024-0005<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research Purpose</title> <p>The study examines the effect of economic complexity on carbon dioxide emissions in the Next 11 countries with the view to validate or refute the economic complexity-Kuznets curve (E<sub>c</sub>KC) between 1995 and 2019. The Next 11 countries include Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South Korea, Turkey, and Vietnam.</p> </sec> <sec><title style='display:none'>Design/Methodology/Approach</title> <p>Two econometric methods, correlated Panel standard error (PCSE) and feasible generalized least squares (FGLS) estimating techniques, are used to achieve the objectives of the study.</p> </sec> <sec><title style='display:none'>Findings</title> <p>The estimates from the FGLS approach are consistent with that of the PCSE approach. The results from both techniques show that economic complexity increases carbon emissions in the Next 11 countries. Also, from the E<sub>c</sub>KC, the study invalidates the hypothesis and supports a positive monotonic linear relationship between economic complexity and carbon emissions, which also means the “<italic>pollution haven hypothesis”.</italic></p> </sec> <sec><title style='display:none'>Originality/Value/Practical Implications</title> <p>The study examines whether the environmental Kuznets curve (EKC) in the Next 11 countries is valid or not. To do this, the current study is different from earlier studies in that it uses economic complexity—that is, the economic complexity-Kuznets Curve (E<sub>C</sub>KC)—instead of GDP. This is explained by the fact that environmental issues should involve the development of more advanced commodities rather than just raising an economy's GDP productivity. And most of the countries in the Next 11 countries are currently shifting their economies to produce more complex goods.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00052024-06-20T00:00:00.000+00:00Unlocking Employee Innovative Behaviour: Exploring the Power of Transformational Leadership and Tacit Knowledge Sharing Among Indonesian White-Collar Workershttps://sciendo.com/article/10.2478/jec-2024-0003<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose.</title> <p>The study explores the impact of transformational leadership on innovative employee behaviour, with tacit knowledge sharing as a mediator. This contributes to existing literature on the dynamic interplay between transformational leadership, employee innovation, and tacit knowledge sharing within organisational contexts.</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach.</title> <p>The study used a cross-sectional research design to examine relationships between the variables. 450 questionnaires were distributed among white-collar employees in Greater Jakarta, and a high response rate of 91.2% was achieved. Using the widely accepted Partial Least Squares Structural Equation Modelling technique, the study further analysed the hypothesised relationship among transformational leadership, tacit knowledge sharing, and innovative work behaviour.</p> </sec> <sec><title style='display:none'>Findings.</title> <p>As evident from the study, transformational leadership would play a major role in influencing the level of sharing of tacit knowledge among employees and, therefore, would result in a supportive, innovative environment. It also has a direct effect on the employees to behave in an innovative way by the inculcation of new ideas or changes. Tacit knowledge sharing is positively related to innovative behaviour. Transformational leadership also indirectly affects innovative behaviour via tacit knowledge sharing. The model explaining these linkages was also further evidenced to be effective through the conduction of structural equation modelling. Overall, the results underline transformational leadership as a critical success factor for a knowledge-sharing culture and innovation development within the organisation, either directly or indirectly.</p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications.</title> <p>The research topic area also encompasses the role of tacit knowledge sharing in mediating the relationship of transformational leadership with innovative work behaviour and, hence, reveals the connection between leadership and innovation through knowledge exchange. It places transformational leadership in a discourse of knowledge management and outcomes of innovation, which points to the general importance of intangible assets and specifically to knowledge sharing. The empirical findings supported the idea that transformational leaders provide a climate where sharing tacit knowledge is an important aspect of organisational innovation. This review, therefore, focuses on the knowledge management, innovation, and leadership literature, with the aim of providing a multidisciplinary overview that would be helpful for readers in management, organisational psychology, and business innovation. This is the approach of leadership development by organisational leadership. HR professionals need to focus on strategies supporting the inculcation of a culture of sharing tacit knowledge around innovation. It ought to support measurement approaches for evaluating effectiveness in leader-led efforts to promote innovation and knowledge exchange.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00032024-06-20T00:00:00.000+00:00Green Horizons Ahead: Navigating Carbon Neutrality in European Transportation by Sky and Seahttps://sciendo.com/article/10.2478/jec-2024-0011<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose.</title> <p>As carbon neutrality gains momentum, industries worldwide are navigating the challenges and opportunities posed by sustainability goals. This article delves into the strategies undertaken by airlines and maritime companies to achieve carbon neutrality by 2050 in the European Union (EU). The aim of the research is to explore how the aviation and maritime industries in Europe can effectively transition towards carbon neutrality by 2050, considering their similar technological challenges and opportunities. The objective of this research was to identify and compare currently utilized sustainability initiatives in aviation and maritime companies. The focus is on new insight from airline and maritime companies concentrating on their sustainability practices. Common hurdles, innovative solutions, and shared opportunities in the pursuit of environmental sustainability are explored.</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach.</title> <p>The selected research method was qualitative research, which was conducted with in-depth and semi-structured interviews and content analysis. Interviews were conducted with airline company and association representatives and maritime company, research, and education experts. The content analysis was based on sustainability reports and sustainability sections of annual reports. Key findings were synthesized into a theoretical framework and this research explores practical initiatives for a sustainable transformation process.</p> </sec> <sec><title style='display:none'>Findings.</title> <p>The call to reduce carbon emissions has been initiated by the EU affecting the transportation sector, particularly aviation and maritime industries where the path to achieving carbon neutrality is constrained by significant technical limitations. Despite these challenges, both sectors share a unified objective according to EU climate targets. Both the aviation and maritime industries face challenges on the path to carbon neutrality. Airlines struggle with the limitations of current aviation technology, hindering the feasibility of large-scale technological advancements. Similarly, maritime companies confront regulatory complexities and infrastructure limitations in the adoption of alternative fuels and emission-reduction technologies since the commonly used tactics of reducing fuel consumption by optimizing speed, routes and scheduling are no longer adequate ways and the energy needs of the shipping industry cannot be met only with battery technology. </p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications.</title> <p>These challenges offer opportunities for innovation and collaboration. Investments in research and development are driving advancements in electric and hydrogen aircraft, while the maritime industry is also trying to find hydrogen-based solutions for greener development, but the technologies are not widely available. This leads towards combining bio-oils and technological innovations related to the fleet. Case study 1 sheds light on airline sustainability in Europe, revealing strategies and initiatives that European airlines are currently utilizing in their sustainable transformation journey. Case study 2 explores different means of achieving carbon neutrality in the maritime industry, in particular the potential of common reed (Phragmites australis) as a carbon offset tool for reaching net zero. Both industries are making significant strides towards carbon neutrality through a combination of technological innovation, operational efficiencies, and strategic partnerships. Towards green horizons as transport industries converge on the path to carbon neutrality.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00112024-06-20T00:00:00.000+00:00Unlocking Innovation from Within: The Power of Tacit Knowledge and Change Adaptability in Indonesian Internal Organisational Innovation Processeshttps://sciendo.com/article/10.2478/jec-2024-0002<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose.</title> <p>The study examines how tacit knowledge sharing affects internal organisational innovation by exploring change adaptability as a mediator. Hence, it tries to fill this gap and further explain the role played by tacit knowledge sharing in the entire knowledge management process. Given the mediating effect of change adaptability, this study aims to provide new insight into effective management and sharing tacit knowledge among organisations to improve their innovation processes.</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach.</title> <p>This study adopted a quantitative cross-sectional survey design, with Partial Least Squares Structural Equation Modeling (PLS-SEM) as the main statistical technique. Such a method is best applied in this research, where one confirms hypotheses and the relationship between observed and latent variables. The samples were selected based on judgmental non-probability and purposive sampling approaches. The SEM was used in data analysis. It contributed to understanding the relationship of the variables, such as sharing tacit knowledge, change adaptability, and internal organisational innovation.</p> </sec> <sec><title style='display:none'>Findings.</title> <p>The study proved that tacit knowledge sharing is highly significant in internal organisational innovation, mediated by change adaptability. Direct effect: Tacit knowledge sharing directly affects the organisational ability to adapt to change and internal innovativeness, thus underpinning its basis. Change adaptability mediates the effect of tacit knowledge sharing on internal organisational innovation, which influences innovation outcomes. Path coefficient analysis confirms the positive influence of tacit knowledge sharing on adaptability to change and innovation. Indirect Effects: Empirical examination has proved the significant mediating effect of change adaptability in leveraging tacit knowledge for innovation. These results suggest that the strategic value of tacit knowledge and adaptability, which will drive sustainable innovation within organisations and support their integration within strategic frameworks, is fully justified.</p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications.</title> <p>This is a new model used for the first time to suggest novel contributions and usefulness in understanding the relationship among sharing of tacit knowledge, change adaptability, and innovation at the internal level of the organisation. Tacit knowledge sharing, combined with change adaptability, is a model for internal organisational innovation. Therefore, it fills an important gap in the existing literature: the quantification of adaptability in mediating the effect of tacit knowledge on innovation. The results of this study will provide empirical validation of these relationships and further contribute to the knowledge in practice, particularly by emphasising the mediating role of change adaptability, which has been relatively underexplored. Practically, tacit knowledge sharing within adaptive organisational environments is thus an important call towards effective adaptation to change. The level of enhancement of these dimensions as core competencies through strategies could make a difference in the success of businesses. The importance of adaptability has to be emphasised by training programs and management practices that would provide the same skills. Other important avenues include those that work towards cultivating supportive organisational cultures that would facilitate tacit knowledge exchange, support employee interaction and informal knowledge exchange, and measures to reward innovation efforts. Investment in human resources practices that encourage learning and adaptability will continue to encourage knowledge sharing and innovation, including improving training programs, offering mentorship opportunities, and developing performance management systems that support and reward behaviours around innovation. This study contributes to the literature with a developed framework and empirical examination of the interrelations between tacit knowledge sharing, change adaptability, and innovation. It provides practical strategies that can be of value to the organisation in enhancing innovation capabilities through knowledge management.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00022024-06-20T00:00:00.000+00:00Effect of Monetary Policy Decisions and Announcements on the Price of Cryptocurrencies: An Elastic-Net With Arima Residuals Approachhttps://sciendo.com/article/10.2478/jec-2024-0006<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose.</title> <p>This study analysed the three cryptocurrencies with the largest market capitalization: Bitcoin, Ether (cryptocurrency built upon the Ethereum project's blockchain technology), and Binance coin, which account for 60% of the total cryptocurrency market capitalization. The purpose of this research was to measure the impact of monetary policy on the price of these cryptocurrencies using an adjusted R squared.</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach.</title> <p>As dependent variables, we used interest rates controlled by the European Central Bank and the Federal Reserve and reports from the European Central Bank and the Federal Open Market Committee. A robust Elastic Net Regression with Autoregressive Integrated Moving Average (ARIMA) residuals machine learning approach was applied to obtain robust regression coefficients and corresponding standard errors. To ascertain the robustness of the model, a technique known as rolling window cross-validation was employed.</p> </sec> <sec><title style='display:none'>Findings.</title> <p>The results of this study show that monetary policy decisions and announcements significantly impact the price of cryptocurrencies. The impact on cryptocurrencies is likely to be significant both in the period of economic stability (2018-2020) and in the period of economic shocks (2020-2022). This relationship is likely to be indirect, acting through investor sentiment.</p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications.</title> <p>The results of this study may be useful to monetary policymakers, as they reveal the link between their actions and the price of cryptocurrencies. Our model will also be useful for mutual fund managers and private investors, as they can anticipate the price dynamics of cryptocurrencies when assessing monetary policy frameworks.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00062024-06-20T00:00:00.000+00:00Personality Traits Correlation with Professional Burnout of Employees from the Advertising Industryhttps://sciendo.com/article/10.2478/jec-2024-0015<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research Purpose.</title> <p>The aim of the research is to study and clarify the level of professional burnout, personality traits, their interrelationships, and the impact of personality traits on professional burnout in the advertising industry to make recommendations to advertising company managers.</p> </sec><sec><title style='display:none'>Methodology.</title> <p>The method of quantitative data collection was a 128-item questionnaire, a combination of the Latvian Personality Survey (LPA-v3) (Perepjolkina &amp; Reņģe, 2013); the Maslach Professional Burnout Survey (Maslach &amp; Jackson, 1981) adapted version in Latvian (Vaine, 2019). Data: N=148 respondents, data collected electronically via Google Forms, ensuring respondent confidentiality.</p> </sec><sec><title style='display:none'>Findings.</title> <p>Advertising employees have high emotional exhaustion, moderate levels of depersonalization or cynicism, and high levels of personal achievement reduction. The highest indicators of general personality traits are as follows: openness to experience, conscientiousness, and honesty - humility, while lower indicators are for extroversion, neuroticism, and agreeableness. Emotional exhaustion has a strong positive correlation with neuroticism and a negative correlation with extroversion; depersonalization has a positive correlation with neuroticism, a positive correlation with agreeableness and a negative correlation with extroversion. Decreased achievement or work efficiency has a strong negative correlation with neuroticism, a strong positive correlation with extroversion, and a positive correlation with openness to experience. Burnout dimensions also have very close positive and negative correlations with the sub-traits. There are statistically significant regression models between professional burnout scales and sub-traits: depressiveness and sociability have the greatest impact on emotional exhaustion; the greatest impact on depersonalisation is for depressiveness; joyfulness; friendliness; the greatest impact on changes in performance is for stress intolerance; joyfulness; creativity.</p> </sec><sec><title style='display:none'>Practical implications.</title> <p>With at least 50% of advertising employees experiencing high levels of burnout, it is recommended to organise individual and Team Supervision sessions to prevent burnout and identify the triggering factors in a specific organization. This format ensures that both employees and managers are equally accountable for the outcome and through a focused process promotes overall employee engagement, problem-solving, conflict resolution, understanding of diversity, empathy, and role clarity. No less important, the knowledge of the most common personal traits of Advertising Industries employees will help company managers to make more informed hiring decisions.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00152024-06-20T00:00:00.000+00:00Experimental Evaluation of Most Sustainable Companies: Impact on Economic Growth, Return on Equity (ROE) and Methodological Comparisonhttps://sciendo.com/article/10.2478/jec-2024-0012<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose.</title> <p>The study aims to analyse, how the sustainable performance of the company impacts the economy and businesses' economic performance, and to build a model, using environmental, social, and financial indicators.</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach.</title> <p>To achieve this goal such methods as the Pearson correlation, Multiple Linear Regression, Cook's distance method, K-nearest neighbour and COPRAS technique were implemented.</p> </sec> <sec><title style='display:none'>Findings.</title> <p>The results indicate no significant correlation between the sustainability activities of companies and the GDP of their respective countries, nor between companies' ROE and their sustainability performance. These findings suggest that conventional methods of evaluating corporate sustainability may not accurately reflect its economic impacts. Furthermore, discrepancies observed between the Corporate Knights rankings and those calculated using the COPRAS method highlight the critical need for a deeper examination of assessment methodologies. This outcome calls for a reassessment of sustainability practices and methodologies to better understand and leverage their benefits in the corporate and economic realms. While the study provides initial insights into the current sustainability assessments, further research should explore alternative evaluative models and their implications across different industries.</p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications.</title> <p>Companies have a significant impact on the environment and society, and sustainability is important not only for ethical concerns but also for financial and economic reasons.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00122024-06-20T00:00:00.000+00:00Methodological Issues in the Study of Place Marketing in Small Villageshttps://sciendo.com/article/10.2478/jec-2024-0013<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose.</title> <p>Natural and economic changes in recent years have led Hungary to emphasise boosting domestic tourism. There has also been an increase in property prices in settlements near large cities, indicating an increase in the number of people wishing to settle there. These effects are putting increasing demands on municipalities, and municipal administrations need economic, management and marketing skills that are often lacking in the administration of Hungarian cities. In our previous systematic literature review, we identified four clusters of literature on publications in place marketing and place management published between 2018 and 2022. The present research aims to discuss the methodologies related to the research themes in each cluster. We aim to explore the research methods associated with each cluster and highlight the potential of methods that may have yet to be used. Our study aims to develop a methodological model that shows which areas are coupled with which methods and which ones could be used to extend research in the future.</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach.</title> <p>Our research is meticulously grounded in a thematic clustering of literature selected from two reputable databases, WoS and Scopus. We conducted a systematic methodological analysis from this database, ensuring a comprehensive and unbiased view of the research landscape. We categorised the articles into thematic and methodological groups, revealing the research methods employed by the authors in each cluster. This rigorous analysis culminated in the development of a conceptual model, which provides an easily interpretable overview for future researchers.</p> </sec> <sec><title style='display:none'>Findings.</title> <p>Our results show that the research that emerges in each cluster is mainly investigated by researchers who use traditional marketing research tools. Particular emphasis is placed on interview and questionnaire research methods, as well as content analysis in the online space. Little space is given to other non-traditional methods that may also be useful. There is no correlation between the different areas and research methods. Researchers do not adapt their methodology to the field of study; instead, the methodological background of the research is determined by the problem at hand, their research framework, or their methodological knowledge.</p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications.</title> <p>The methodological extension based on our study's results and the model allows researchers to move away from the most common and traditional methods of investigation and explore the field from a new perspective and with new methods. As a result of this new approach, it is possible to explore and interpret new types of results.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00132024-06-20T00:00:00.000+00:00Improving Quality of Administration Process in HEIs: Professional Competence Perceived by Academic Staff in Ukrainehttps://sciendo.com/article/10.2478/jec-2024-0001<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose.</title> <p>The research purpose of this paper was to explore the evaluation of skills by academic staff to improve the quality of the administration process in higher education institutions (HEIs) from two perspectives. Firstly, the authors investigated whether there are statistically significant differences between the genders of academic staff in higher education institutions regarding the evaluation of their skills and competencies. Secondly, the study aimed to determine if there are statistically significant differences in competencies perceived between academic staff of STEM sciences and those with academic experience in other sciences in terms of assessing their professional competencies. The purpose was determined by the impact of self-assessment of professional competencies on the improvement of administrative processes.</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach.</title> <p>The survey, using the authors` developed questionnaire, was distributed in Ukraine from 2019 to 2023. 374 respondents were surveyed. To test hypotheses, the authors employed the Mann-Whitney U test for gender-related hypotheses and the Kruskal-Wallis test for hypotheses related to the area of scientific and academic activities.</p> </sec> <sec><title style='display:none'>Findings.</title> <p>Due to the analysis carried out in the present research, the Mann-Whitney non-parametric test showed that there is no statistically significant difference between the gender groups and their professional competencies evaluation, which leads to the rejection of the first hypothesis. The second hypothesis was also rejected, as based on the Kruskal-Wally’s test there is no statistically significant difference between the perception of the professional competencies among the academic staff of STEM and other sciences.</p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications.</title> <p>Unlike other studies, this research specifically focuses on the differences between the self-assessment-based perceptions by genders and STEM sciences academic staff compared to representatives of other branches of science at HEIs in Ukraine. The practical value is achieved by the research thus ensuring administrative staff with defined competencies and self-assessment criteria. The research findings then will allow us to link competencies to administration processes and offer training and development opportunities based on identified competency gaps. The feedback mechanism might be established based on the research data and these self-assessment results might be incorporated into the performance evaluation processes, thus improving the quality of the educational process and its administration in HEIs. Practical implications are related to the state and period of the research, due to the present war in Ukraine.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00012024-06-20T00:00:00.000+00:00How are the SMEs Committed to their Local Communities in the Term of Sustainability?https://sciendo.com/article/10.2478/jec-2024-0014<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose.</title> <p>Local communities play a crucial role in the entrepreneurship ecosystem. The role and massive influence of the local environment raise several questions. This paper aims to answer the following questions: (1) how and why the local communities affect SMEs’ sustainability, (2) which pillar of sustainability plays a stronger role in this matter, (3) which internal and external motivators drive a firm’s sustainability actions, and (4) whether company and personal characteristics have a significant effect on local patronage.</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach.</title> <p>A representative sample of leaders (n=300) from the Hungarian SME sector was investigated through a validated survey. The survey explored activities, motivations, organizational characteristics, and leadership factors in CSR and sustainability in the SME sector. Both Likert scaled statements and reasonings for open-ended questions were examined using qualitative and quantitative methods.</p> </sec> <sec><title style='display:none'>Findings.</title> <p>SMEs regularly support various organisations, and communities, mainly if those are in the close region of the enterprise. They regularly promoted culture, education, youth, sport, and vulnerable groups in their local area. Moreover, businesses feel an obligation to support the local communities in which they operate. This activity seems to be divided into a conscious and a hidden part. When we asked for the reason for activities, most answerers expressed that donating to healthcare organisations or education institutes is an obvious civic duty (i.e., pressure from society) but in terms of local communities, the motivation is rooted in personal engagement (i.e., an essential part of social sustainability).</p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications.</title> <p>SMEs poorly express their sustainable activities; they adopt more informal strategies in comparison with large companies. SMEs’ social sustainability lies in engagement and close links with local communities, where companies are targeted towards supporting charitable projects in their surroundings. Even though these actions are less formalised or strategically planned, that is why this research provides a better understanding of the integration of environmental and social concerns of sustainability reflecting all of those benefits.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00142024-06-20T00:00:00.000+00:00Updating the Informational and Control Practices in the Sustainability Agendahttps://sciendo.com/article/10.2478/jec-2024-0010<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose.</title> <p>The sustainability concept embraces a wide scope of linked practices: green thinking, sustainability informational and management assurance, ESG reporting and scoring, responsible and impact investment, stability measurements, and others. Significantly expanding beneficiary's and stakeholders' circle needs information to build and implement a policy providing ESG values creation and meeting their requirements in relevant sustainable agenda. This is why it is important to create a transparent information landscape and to shape new highlights in management and decision-making. The article is aimed at exploring specific ways to transform information and management practices, primarily accounting, ESG-reporting, analysis, and assurance to create a transparent information environment for sustainability.</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach.</title> <p>The study is designed as a qualitative analysis of existing information and related practices to identify gaps in the information needed by stakeholders for decision-making with that practically generated in the current environmental momentum. It involves summarising, categorizing, and interpreting open access sources data, such as unidirectional studies, non-financial reporting and ESG-rankings databases, program documents, frameworks and standards for sustainability and "responsible" reporting, professional audit analytics, and others. Logical and comparative analysis was used for data processing. The study’s theoretical framework is based on accounting theories, particularly the Interpretative paradigm.</p> </sec> <sec><title style='display:none'>Findings.</title> <p>The possibilities were assessed following proposed approaches to upgrade the up-to-date system of informational-verifying appraisal practices by the requirements of a proper ESG environment. A holistic system layout was suggested, including information and control practices employed to provide sustainability. The main part of the recommendations refers to accounting and reporting for sustainability. New accounting ESG objects to display in this system were identified. It developed an integrated balance model of total capitals and their sources engaged and ESG -value-creating, taking for the basis traditional balance theory. Given the diversity of corporate non-financial reporting, classification characteristics for ESG reporting were suggested, and two key models of ESG reporting were defined. Recommendations were made in the field of design and methodology for information support of sustainability.</p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications.</title> <p>The article is the author's vision of the problems and ways of advancing traditional information practices in the context of global sustainability management requests. Recommendations for the holistic system of sustainability governance, informational support creation, transformation of accounting, ESG-reporting, other linked practices, streamlining, and methodological development of information activities that can be used in the practical field and employed in programmatic, advisory, and regulatory documents that structure the information field of socio-economic life.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00102024-06-20T00:00:00.000+00:00Exploring Entrepreneurial Intention for Sustainable Development: a Study of University Students in Kolea, Algeriahttps://sciendo.com/article/10.2478/jec-2024-0004<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose</title> <p>Entrepreneurship's evolving role now extends beyond economic realms to encompass broader societal and environmental imperatives. Sustainable entrepreneurship emerges as a linchpin in addressing contemporary challenges, offering innovative solutions that harmonize economic resilience with environmental and social objectives. Yet, the determinants underpinning individuals' intentions towards sustainable entrepreneurship, particularly within the Algerian context, remain underexplored. Keeping this into consideration, our research endeavours to identify the motivational factors influencing the decision to engage in sustainable entrepreneurial activities among students at the Kolea University Pole.</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach</title> <p>Drawing on a quantitative approach, data from 370 student responses were analysed using linear regression analysis.</p> </sec> <sec><title style='display:none'>Findings</title> <p>The findings reveal the significant influence of both internal and external determinants on entrepreneurial intention for sustainable development among students. Internally, factors such as perceived entrepreneurial feasibility, perceived behavioural control, and attitudes towards sustainability emerged as key drivers of entrepreneurial intention towards sustainability. Students with a strong inclination towards sustainability exhibited a heightened intention to engage in entrepreneurial activities aligned with sustainable development goals. Externally, sociological factors and social networks were found to exert a significant positive influence on sustainable entrepreneurship intention. This underscores the importance of familial, educational, and societal support structures in fostering an entrepreneurial mindset among students, shedding light on the role of information and communication technologies in shaping this intention. Yet, the study also highlights a concerning lack of awareness among students regarding the role of entrepreneurship in addressing environmental challenges underscoring the need for educational interventions aimed at cultivating an environmental ethos among students.</p> </sec> <sec><title style='display:none'>Originality/Value/Practical Implications</title> <p>This study contributes to the discourse on sustainable entrepreneurship in developing countries, particularly in Algeria, by elucidating the factors influencing entrepreneurial intention among students. The findings underscore the importance of both internal and external determinants in shaping students' entrepreneurial aspirations, with implications for educational policy and practice.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00042024-06-20T00:00:00.000+00:00Understanding Social Entrepreneurs’ Views on Strategies for Ensuring Social Economy Sustainabilityhttps://sciendo.com/article/10.2478/jec-2024-0008<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>The research purpose.</title> <p>This study aims to probe the internal consistency of survey questions aligning with priorities outlined in the World Economic Forum Insight Report "Unlocking the Social Economy" within Latvia and Georgia. It delves into the structural makeup of contemporary social entrepreneurs in these nations, their attitudes towards report priorities, and perceptions on fostering social economy development. Additionally, it explores how social entrepreneurship impacts Sustainable Development Goals (SDGs) like 11, 12, and 8, and proposes ways to enhance collaboration between public bodies and social economy actors in Latvia and Georgia.</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach.</title> <p>The body of the survey was constructed according to the World Economic Forum Insight Report “Unlocking the Social Economy” priorities and the developed questionnaire was distributed in Latvia and Georgia from February to March 2024. The respondents were social entrepreneurs from both countries. The pilot study aimed to test the internal consistency of the survey`s questions.</p> </sec> <sec><title style='display:none'>Findings</title> <p>underscore the role of social innovation in tackling contemporary development issues, and in fostering employment and economic growth. It delineates the modern social entrepreneur's profile in Latvia and Georgia, analyses their stance towards report priorities, solicits their views on actions vital for social economy growth.</p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications.</title> <p>Social entrepreneurship is commonly recognized as an integral element of Catalyst 2030, a global movement of social entrepreneurs and social innovators looking to attain the SDGs by 2030. In particular, SDG 11 (Sustainable Cities and Communities), SDG 12 (Responsible Consumption and Production), and SDG 8 (Decent Work and Economic Growth) have been the most strongly impacted by sustainable entrepreneurship research. The research contributes to the process of unlocking the social economy towards an inclusive and resilient society more comprehensive for the social entrepreneurs and public bodies aiming to foster the development of the social economy. The main value of the research is revealing the need to update the relation of the public bodies of Georgia and Latvia to the interaction of social entrepreneurs.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00082024-06-20T00:00:00.000+00:00What HR Issues and Challenges are Addressed by Contemporary HR Professionals and Line Managers? A Survey Evidence from the Czech Republichttps://sciendo.com/article/10.2478/jec-2024-0009<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose.</title> <p>Succeeding in a changing business world means being familiar with emerging business trends, including issues and challenges related to human resources (HR). The paper investigates HR issues and challenges addressed by HR professionals and line managers of businesses in the Czech Republic. The investigation aims to uncover which HR issues are faced most often and which HR challenges are expected in the coming years to identify existing and potential HR issues and challenges that businesses should deal with to meet their needs.</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach.</title> <p>The investigation is founded on the reanalysis of data from the 2023 HR survey carried out by the Grafton Recruitment Czech Republic staffing agency at the end of 2022. The original data were provided by the co-author representing the staffing agency. The reanalysis was used to utilize the original data, to evaluate responses depending on the business type (manufacturing, non-manufacturing) and size (small, medium-sized, large), and to verify hypotheses concerning realized and planned changes in the number of employees. The original online survey addressed roughly a thousand clients of the staffing agency. The responses were obtained from 478 businesses across the Czech Republic that responded to thirty questions about their HR policies and plans. The reanalysis covers eight questions about their HR roles, issues, and challenges. The original data were not modified. To verify hypotheses, a non-parametric chi-square test of independence for a contingency table was used. To evaluate the degree of dependence between variables, a contingency coefficient was used.</p> </sec> <sec><title style='display:none'>Findings.</title> <p>The surveyed businesses most often face HR issues of employee resourcing. The HR challenges they expect in the coming years concern the development of the employer brand, the introduction of digital and AI technologies, or the introduction of innovative organizational arrangements to hire suitable employees or replace the missing employees. The findings revealed a dependence between realized and planned changes in the number of employees. The realized increase and decrease in the number of employees referred to the planned increase and decrease in the number of employees. The findings revealed no significant differences in responses depending on the type (manufacturing and non-manufacturing) and size (small, medium-sized, and large) of businesses.</p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications.</title> <p>The findings bring original perspectives on existing and potential HR issues and challenges addressed by surveyed businesses in the Czech Republic. The findings contribute to the present theory and practice of employee resourcing by confirming the value of HR professionals and line managers in addressing staffing issues. The findings can be applied in the design of HR service delivery systems in different businesses by highlighting HR issues and challenges that businesses should focus on.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2024-00092024-06-20T00:00:00.000+00:00Understanding the Consumer Dynamics of AI in North Macedonian E-Businesshttps://sciendo.com/article/10.2478/jec-2023-0016<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research Purpose</title> <p>This study investigates the dynamics of Artificial Intelligence (AI) in e-business, particularly from the perspective of consumers in North Macedonia. The research aims to identify and evaluate the benefits and challenges of AI integration in e-business, explore the ethical concerns related to AI decision-making, and understand the impact of AI on consumer behaviour and preferences.</p> </sec> <sec><title style='display:none'>Design/Methodology/Approach</title> <p>The research adopts a mixed-methods approach, integrating qualitative and quantitative analyses. Primary data was collected via a structured questionnaire distributed among various demographic groups to gauge the level of awareness and experiences with AI in e-business. A range of statistical tests, including ANOVA and correlation tests, were employed to assess the significance of the data collected and to test a set of hypotheses concerning consumer perceptions and experiences of AI.</p> </sec> <sec><title style='display:none'>Findings</title> <p>The results reveal that demographic factors such as age, status, education, and occupation do not significantly impact the level of understanding, awareness, or experiences with AI among Macedonian consumers. Participants exhibited a level of high awareness of the importance of AI in e-business and rated their shopping experiences with AI more positively than traditional methods. Trust and reliability in AI did not significantly differ across demographic lines. The findings of this study have significant policy implications, especially in guiding the ethical and responsible integration of AI in e-business. They suggest a need for policies emphasising consumer data protection and privacy, given the heightened awareness and concern among consumers regarding using their personal information. Furthermore, the results advocate for the development of regulatory frameworks that ensure transparency and fairness in AI algorithms, addressing potential biases that could negatively impact consumer trust.</p> </sec> <sec><title style='display:none'>Originality/Value/Practical Implications</title> <p>This research contributes novel insights into the Macedonian consumer market’s perception of AI in e-business, a topic scarcely covered in existing literature. The findings underscore the necessity for businesses to adopt AI responsibly and ethically, highlighting the importance of prioritising fairness, privacy, and transparency to leverage AI’s full potential in e-business. This study stands out in its exploration of AI in e-business from the consumer perspective in North Macedonia, a context not extensively covered in existing literature. The originality of our research lies in its focus on a comprehensive range of consumer-centric factors, including awareness, experiences, ethical concerns, and behaviour related to AI in e-business.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2023-00162023-12-20T00:00:00.000+00:00Use of Movable Cultural Heritage Through Libraries in Slovakiahttps://sciendo.com/article/10.2478/jec-2023-0012<abstract> <title style='display:none'>Abstract</title> <p><bold>Research purpose.</bold> Cultural heritage in movable or immovable form contributes with its tools to the creation of a coherent and inclusive society. The cultural direction of the society should be built on the basic principles of inclusion, equality, participation and availability with the help of marketing and marketing communication. The aim of the contribution is, on the basis of the data database of culture, which is implemented by institutions under the authority of the Ministry of Culture of the Slovak Republic, to determine the use and sustainability of non-periodical publications registered in libraries in the Slovak Republic, which should lead to the creation and maintenance of mutual understanding between them and the public with the ultimate goal of supporting knowledge the society's potential.</p> <p><bold>Design / Methodology / Approach.</bold> The object of the research werw 1738 libraries of the Slovak Republic, using the statistics for period 2016-2020. We used eighteen fifferent indicators, such as „active library services users“, „library visitors“, etc.</p> <p><bold>Findings.</bold> There is a strong statistical dependence based on the obtained results for the research questions and the multiple correlation dependence between the number of libraries and indicators such as the number of book units, the number of loans, and the number of visitors. Because of this, it was possible to outline new recommendations to support the sustainability and development of public libraries in the Slovak Republic.</p> <p><bold>Originality / Value / Practical implications.</bold> Through the continuous generation of knowledge and data in this area, the research activity and results of this work could contribute to increased awareness of the importance of culture and the building of the society's good reputation. By developing a public relations communication tool, public administration institutions could significantly contribute to the development of knowledge potential not only in the Slovak Republic. This requires building relationship management and strengthening the communication of the investigated institutions towards the public with the intention of strengthening these ties.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2023-00122023-12-20T00:00:00.000+00:00Incorporating Art Events Into Marketing Activities - Good Practice By European Zooshttps://sciendo.com/article/10.2478/jec-2023-0013<abstract> <title style='display:none'>Abstract</title> <p><bold>Research purpose</bold>. In today's business world and for over a hundred years, art events have been used to develop a brand, promote awareness, and increase the number of customers. Art is a useful tool for a company to promote and advertise its products. As some authors mentioned, arts can enhance the company's image: <bold>i</bold>n marketing and selling, art can brand a company's culture and products; arts can also act as a social connector in the workplace and beyond and in marketing, art can brand a company's culture and products, it helps to further community relations (Anderson, 2017). Companies can use not only art events to attract customers and diversify target audiences but also institutions such as zoos. Attracting visitors through art events is especially important for those zoos that cannot afford rare animal species or special spaces and landscapes. Nowadays, most cultural activities in zoos are done under the educational programs - educational activities provided by zoos not only concern animals, biodiversity and the environment but may have cross-academic roots, like arts, geography, theatre, engineering and technology, physical and mental health, even math (Zareva-Simeonova et al., 2014.) Social media development gives the zoos an excellent opportunity to make these activities visible and allows them to incorporate art, music, crafts, games, and storytelling into the zoo experience. Videos, artistic content and online read-alongs can draw kids and their families into the zoo community long before stepping foot into the zoo. (Softplay, 2023). The most active in attracting visitors with art and culture activities are USA zoos, from the usual placement of art objects in the zoo territory and celebration of various holidays to master classes with professional artists who teach visitors to draw animals and art residencies. This research aims to identify European best practice examples of zoos using art events that attract more local visitors and tourists and classify art events in zoos.</p> <p><bold>Design / Methodology / Approach.</bold> Using the document analysis method, the home pages of different zoos worldwide were analysed. In antiquation, partly structured interviews with zoo representatives and artists were made.</p> <p><bold>Findings.</bold> The results of the research will be presented at the conference.</p> <p><bold>Originality / Value / Practical implications.</bold> The research summarises the experiences of different zoos in organising art events. It creates a typology of art events that can be used by representatives of different zoos when planning additional activities.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2023-00132023-12-20T00:00:00.000+00:00The Kehler Management System: Integration of External Stakeholders in the Quality Assessments of Municipal Administrationshttps://sciendo.com/article/10.2478/jec-2023-0014<abstract> <title style='display:none'>Abstract</title> <sec><title style='display:none'>Research purpose</title> <p>The Kehler Management System (KMS) is a tool for assessing quality in municipalities. Due to technological advancements, globalisation, greater market dynamics, changing values and demographic change, municipalities find themselves in a complex and dynamic field of tension. The diversity and complexity of these fields of activity and relationship structures continue to increase, making it difficult for municipalities to adapt their processes.</p> <p>However, in the first stage, the focus of KMS was limited to the internal perspective of the municipal administration. This was coherent in terms of an initially necessary reduction of complexity, but in terms of a holistic view, this is insufficient. Following the successful introduction of the KMS for quality assessment in the internal structure of public administration, the concept is being expanded to include the external perspective of stakeholders. The question is: “How can the satisfaction of various stakeholder groups in the municipality be measured in a way that incurs significant participation and produces relevant results for the decision-makers in the municipality?”</p> </sec> <sec><title style='display:none'>Design / Methodology / Approach</title> <p>The research design takes the form of a case study and focuses on the municipality of Ottersweier. The basis for developing the external perspective is determining the stakeholder groups interacting with a municipality. Six stakeholder groups are identified: Residents, local businesses, business partners of the administration, capital providers of the administration, civil society actors such as associations, clubs and interest groups, and corporations and institutions under public law, e.g. neighbouring municipalities. In analogy to the KMS's approach to the municipal administration's internal perspective, the first step is identifying impact factors grouped into success clusters. To assess the impact factors, questions relevant to the impact factors are developed. Questionnaires were developed and tested for the stakeholder group of residents, local businesses and clubs. All questionnaires were tested in the Ottersweier community.</p> </sec> <sec><title style='display:none'>Findings:</title><p>The survey brought about significant results that aligned with the staff's experience in the municipality. Local businesses indicated a "General Satisfaction" of 81%. They were especially satisfied with the work of the administration. The impact cluster is considered to be fulfilled. However, 18 companies indicated a willingness to relocate out of the municipality for other reasons.</p> <p>The survey of the clubs showed a high level of satisfaction with the service quality of the municipality for this stakeholder group. The general satisfaction of the clubs was 98%.</p> <p>The evaluation of the residents' views showed that the two impact clusters, "General satisfaction" and "Administration," were above the 80% hurdle. The results for the impact clusters "Municipal Policy" and "Supply and Infrastructure"were noteworthy. Both the survey of residents and local businesses obviously failed to meet the KMS target of 80% effectiveness for these two impact clusters. A closer examination of the detailed questions revealed that both stakeholder groups perceive the same areas as particularly deficient: communication and implementation of the municipal council's mission statement and public transport.</p> </sec> <sec><title style='display:none'>Originality / Value / Practical implications</title> <p>In previous surveys of residents in various municipalities without using the KMS, the participation of residents was so low that only limited conclusions could be drawn about the quality of municipal services. Therefore, an attempt was made to keep the number of questions to residents as low as possible to increase the survey's acceptance. The response rate was significantly expanded concerning the number of residents compared to previous surveys.</p> <p>Since two stakeholder groups perceived two areas as deficient independently of each other, "Municipal Policy" and "Supply and Infrastructure", the municipality of Ottersweier must conduct a weakness analysis in order to develop a plan for action to improve the services. Semi-structured, qualitative interviews with residents can be used for this analysis. Also, the motives for local businesses to consider relocation should be investigated in more detail.</p> </sec> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2023-00142023-12-20T00:00:00.000+00:00Consumption of Cultural Content in the Digital Environment in the Post-Pandemic Latviahttps://sciendo.com/article/10.2478/jec-2023-0017<abstract> <title style='display:none'>Abstract</title> <p><bold>Research purpose.</bold> COVID-19 has a huge impact on the life-style in modern society, including the switching to online studies and remote work. The majority of the studies view the consequences as negative, while at the same time the pandemic have enhanced some positive changes. The goal of the research is to find out, how the time spent online and the content consumed online are changed due to pandemic as well as to determine what cultural content young people are consuming online.</p> <p><bold>Design / Methodology / Approach.</bold> To achieve the research purpose author conducted a survey, using own developed instrument – questionnaire. In total, 1029 respondents participated and 934 questionnaires were valid. The survey was conducted in December 2020 using snowball sampling. The developed questionnaire contained 14 questions were grouped into 2 sections: A) Questions about consumption on cultural content online before and during the pandemic and B) Respondent profile.</p> <p><bold>Findings</bold>. Totally the number of hours young people are spending online in post-pandemic period increased because of COVID, but most fastest growth is by those who spent more than 8 hours (from 15 to 100 persons). 53,2% from all respondents are spending about ¼ of all time online consuming cultural content, and 23,2% are not consummating cultural content online at all. 3 main significant reasons why the youth is spending time online are: it is easy and fast (77%); the digital environment is always along in the phone (77%); in the digital environment it is possible to communicate with friends (65%). Spending time online most respondents are consuming informative content, including news and blogs (64%) and the content related to hobbies or leisure (60%), but the cultural content was ranked with just 26%. The most used digital cultural content is movie watching (30,5%), seminars and courses about culture (18,6%), conferences dedicated to culture topics (17,1%), tours in world museums (16,3%) and study books (15,9%). Further, gender, like gender, can not be considered both a significant factor and a predictor of digital consumption. Unlike the two, occupation and place of living are predictors for share of online cultural consumption: occupation appeared to be a moderating factor for digital consumption of cultural content, which make Latvian findings different from what appears in literature.</p> <p><bold>Originality / Value / Practical implications.</bold> The results of the research are representing changes in online consumption of culture goods and services caused by COVID-19. As the target group of this survey are youth from 18 to 25 years old, they can be used by evaluating potential and planning of culture goods and services online for this target group. It because evident, that some of the post-pandemic cultural consumption trends appeared as the impact of pandemic, enhancing cultural consumption growth in certain areas, involving more youngsters to cultural consumption compared to pre-pandemic period.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/jec-2023-00172023-12-20T00:00:00.000+00:00en-us-1