rss_2.0Sciendo RSS Feed for Studies in Business and Economicshttps://sciendo.com/journal/SBEhttps://www.sciendo.comhttps://sciendo-parsed-data-feed.s3.eu-central-1.amazonaws.com/6295d50ad3de7470fa1f034f/cover-image.jpghttps://sciendo.com/journal/SBE140216https://sciendo.com/article/10.2478/sbe-2022-0060<abstract> <title style='display:none'>Abstract</title> <p>Multinational Corporation (MNC) behaviors (Hoffman et al, 2017) have come under growing scrutiny, and many MNCs have been found to be following lax corporate social responsibility (CSR) standards. MNCs are being held to a standard of new sustainability paradigm, which is challenging them to develop new models of CSR decision making. We represent the CSR decision making challenges of MNCs with the help of a game theoretical model. The model specifies alternative strategies and payoffs for the MNCs and the stakeholders and examines the dominant strategies in the Nash equilibrium. To identify solutions for the future, we propose a corrected game model, where the incentive structure is revised so that the stakeholders are able to signal rewards and penalties for CSR behavior. In this corrected game model, the dominant strategy for the MNCs is to step up their CSR compliance, and for the stakeholders is to offer rewards for the CSR behavior.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00602023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0050<abstract> <title style='display:none'>Abstract</title> <p>The state, represented by the legislature and the executive power, is committed to create a pattern for good corporate governance of state-owned enterprises (SOEs). First attempt to formulate such principles for private companies listed in the stock exchange emerged in the UK. Considering the size and importance of state sector, the Organization for Economic Co-operation and Development (OECD) gradually adopted and recommended similar principles for SOEs. They are the most commonly recognized and accepted pattern for good corporate governance of SOEs throughout the world. The study aims to evaluate the current level of compliance with these principles in Bulgaria (2016–2018) by state authorities and to find the gaps in their implementation. To achieve this aim, an original methodology has been developed derived on OECD principles and the use of expert assessment. The study found that the state (Parliament and Council of Ministers) has established in relatively high degree compliant with OECD principles of good corporate governance of SOEs pattern, while the ministries-principals of SOEs have insufficiently complied with these principles. They need to devote a lot of attention and endeavors to fill the gaps in complying with these principles and to create a modern corporate governance pattern for SOEs.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00502023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0061<abstract> <title style='display:none'>Abstract</title> <p>The rapid expansion of the electric vehicle (EV) markets over the last decade (due to the combined effect of technology advancement and rising sustainability concern) is part of bigger transformations – towards electric/net-zero mobility and sustainability – that got momentum and (both public and policy) validation. In this context, the companies in the auto industry – that have traditionally been part of the “sustainability problem” – are being urged to join the “sustainable solution” the EVs are part of. Their sustainability-related practices and impacts are being highly challenged, while increasingly under scrutiny, making sustainability reporting a strategically significant endeavor. The paper aims to explore the sustainability performance and reporting of the global (top five) electric car automakers (that are both “born EV” and “traditional”) – in order to compare and contrast their strategic perspectives on sustainability performance and reporting. The S&amp;P Global ESG Scores have been used as proxy for the sustainability performance of the five companies, and the analysis was detailed to the level of the three dimensions and nine criteria of S&amp;P Global ESG Scores. As for the assessment of sustainability reporting, a qualitative analysis of the non-financial (Sustainability/CSR/Impact) Reports of the five companies was performed – using QDA Miner.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00612023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0055<abstract> <title style='display:none'>Abstract</title> <p>The profound negative effects of the current pandemic crisis on firms, especially small and medium-sized ones, have forced them to rethink their business models. In order to survive and compete, many businesses have focused on adopting and using digital technologies. Several studies have shown that digital technologies could facilitate business continuity and increase their resilience to shocks. Starting from the fact that SMEs are an important source of innovation and the predominant form of business organization, the European Commission has repeatedly emphasized the importance of digital business transformation and the need to support the digitalisation of SMEs. Our study aims to analyse the degree of digitalisation of SMEs in EU countries and the obstacles they face in digitizing their business. In addition, we aim to examine the extent to which the use of various forms of digital technology could stimulate the growth of SME performance. The analysis covers the 27 EU member states and is mainly based on data provided by the European Commission and the OECD, as well as information provided by European Investment Bank surveys. Our paper complements the literature focused on the digitization of SMEs, especially by highlighting the gaps between EU countries in terms of digitization of the SME sector, but also by empirically examining the impact of digital technologies on the performance of SMEs in EU countries. Through its content, our study emphasizes the crucial importance of digitizing SMEs so that these companies are drivers of economic growth and development of countries. The results of our research may be of interest to both researchers concerned with business digitalisation and decision-makers at various levels, who should prioritize the identification of appropriate measures to stimulate digital innovation and investment in information and communication technology infrastructure.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00552023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0049<abstract> <title style='display:none'>Abstract</title> <p>Alongside with the acquisition and the efficient use of assets (investment decision and asset management), financial managers are concerned with their financing. The capital structure of a company is of interest not only for practitioners but also for theorists so that in the last six decades important theories were developed from the capital structure irrelevance theory of Modigliani and Miller to theories that include market imperfections and incentives into the models (the static trade-off theory, the pecking order theory). In practice, financial managers take into account not only quantitative determinants, but also qualitative ones, so that the decision becomes complex and the outcome differs across industries and companies. Many empirical studies were performed in the last decades in an effort to identify the relationship between the chosen capital structure and the performance of a company. We aim to add specific results to empirical studies already performed. Our study investigates the relationship between the financial mix and the profitability of companies listed in Romania, covering the interval 2017-2021.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00492023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0052<abstract> <title style='display:none'>Abstract</title> <p>Purchase and sale transactions of products and services include trade. Electronic commerce (E-commerce) is expressed as the realization of this process in electronic area. Today, e-commerce has been considered as one of the new trends of international trade. E-commerce offers individuals and businesses more product options with lower prices, allows them saving time, making payments faster and delivering products to long distances in a short time. In this study, the effect of per capita GDP in Turkey and EU countries on e-commerce has been investigated by using panel data analysis through the annual data of period between 2007 and 2019. Moreover the rate of internet usage and employment rate by education level have been added the study as the other independent variables that affect e-commerce. Empirical results demonstrate that a 1% increase in GDP per capita causes a rise of 7.29% on e-commerce. Also there is a significant and positive relationship between employment and e-commerce according to per capita GDP, internet usage rate and education level.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00522023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0056<abstract> <title style='display:none'>Abstract</title> <p>Improving Customer Satisfaction (CS) is a key strategical goal for companies, especially for Small and Medium-Sized Enterprises (SMEs). The objective of this research is to find and rank the major factors supporting CS. We focus on SMEs in two emerging markets located in two countries with different geographical and supply chain environments. We test a conceptual framework that includes several factors supporting CS. The data were collected from Hungarian and Indonesian SMEs by online questionnaire. We used statistical analysis such as Exploratory Factor Analysis (EFA), Confirmatory Factor Analysis (CFA), and Structural Equation Model (SEM) to test our model and hypothesis. Based on the survey of the top management of the SMEs, the three factors that have a significant positive effect on CS in both countries are Market Pressure (MP), Organizational Culture (OC), and Corporate Strategy (CStra). The rank order is MP followed by OC and CStra in Hungary; MP, CStra, and OC for Indonesia. Even though many scholars discussed CS, a few studies have shown the connection between CS and the successful implementation of SCM. Evaluating and ranking the supporting factors contributes to the literature and business practice of SME decision-making related to SCM.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00562023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0043<abstract> <title style='display:none'>Abstract</title> <p>Countries with a higher proportion of tertiary education graduates are wealthier and offer more diverse and motivating career opportunities to individuals, including students. In recent years, an increasing number of studies have examined the impact of education on wages and economic development and the impact of R&amp;D and innovation on economic and social progress. However, research has focused less on the specific impact of education components (competencies, learning methods, information and communications, technology, and infrastructure) on economic development and innovation. The paper uses quantitative research methodology and dynamic panel models explore the impact of education on economic development, wages, and innovation in the European Union countries and countries that participate in PISA testing, over the period 2012-2019. The data was gathered from Eurostat, and the time period studied ranged from 2012 to 2019. We found evidence that the substantial funding of R&amp;D and education, which promote innovation, supports a country’s need to develop and distinguish itself from others that underfund the most critical areas of economic development. The implications of this study are significant for Romania’s academic and political environments, as it encourages changes in educational policies that will consider the multifaceted impact of educational components on development through innovation.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00432023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0053<abstract> <title style='display:none'>Abstract</title> <p>Grounded in graph theory, this paper proposes and demonstrates a novel methodology to analyze career transitioning. We collect and integrate official U.S. Government data on 35 general job skills and the annual wage data for over 900 standard occupations. Our research can help people move from unemployment, or a current job, to their desired occupation. We use graph theory to determine the most efficient way to hop between intermediate jobs to gain the necessary set of skills required by the targetted occupation. Our analysis assumes that working in a job proffers the skills from that job to the employee. A potential application involves an employee who wishes to transition to a different occupation, perhaps even in a different industry. The employee does not have the necessary skills to transition directly to the desired career because the skill levels are too different between the jobs. Instead, the employee must make a series of smaller job hops to acquire the skills. This type of analysis can provide valuable insights into the most efficient way to change careers. Our study may be especially relevant and helpful because some employees may need to move from languishing careers or industries to ones less impacted by COVID 19 or less threatened by automation.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00532023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0054<abstract> <title style='display:none'>Abstract</title> <p>While the positive and negative effects of insider trading have been discussed in the each firm levels, there is little evidence for the effects of insider trading on financial markets. This paper aims to provide empirical evidence for the effects of insider trading in the capital market. This study examines the association between insider trading and information asymmetry in firms with certain information environments. If capital market regulation for insider trading is effective and companies are well-governed, the positive rather than negative effects of insider trading in the capital market will be enhanced. The empirical results indicate that insider selling (buying) in firms with high ratios of foreign share ownership is associated with a decrease in stock volatility (market liquidity). The results in this paper enables policy makers and practitioners to understand the impact of corporate insider trading on outsiders in the capital market. Our findings may also help to reform regulation of insider trading as it is applied in real business environments, especially in firms with high levels of information asymmetry.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00542023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0059<abstract> <title style='display:none'>Abstract</title> <p>Nowadays, the medical systems of the EU Member States have a need for more efficient public policies and strategies to integrate the new societal challenges, the fragile economic recovery from the COVID-19 pandemic, and sustain the development of health systems. This research explores the relationship between public governance and health expenditures allocation, under the theory of welfare economics and the concern for economic development. The research approaches both qualitative and quantitative methodologies. The first refers to bibliometric analysis and review of the existing literature, followed by data mapping process to rank the EU countries based on the variables employed. The quantitative approach also includes advanced empirical analyses (principal component analysis - PCA and regression analysis) performed over the period 2007-2020. Two indices were created through PCA, technical governance and democratic governance, gathering the effects from different world governance indicators. The main results reveal that both governance indices have a direct influence on health expenditures per capita, while GDP growth, applied as a control variable, negatively influences health expenditures. Our results emphasise a need to redesign the public governance of health systems in terms of health spending allocations and increase investments in healthcare to support economic growth in the long run.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00592023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0042<abstract> <title style='display:none'>Abstract</title> <p>In an era in which technological progress is creating new economic perspectives, exploring interdependencies and finding the dimension of the connection between ICT skills and the R&amp;D dimension are of particular interest. It is somewhat universally accepted that ICT development actively helps the growth of R&amp;D potential in a general sense and that innovation stimulates new developments in the ICT sphere. This study suggests a statistical measuring of this connection and it identifies a quantifiable corellation between R&amp;D allocations and the increase of computer and Internet use at companies’ level. The econometric analysis of the available data at European countries’ level over the 2012-2021 period was performed using the panel method, which allowed the estimation of a regression relationship between the chosen indicators. The identified connection is one of direct proportionality between increased R&amp;D allocations and increased digitalization and ICT skills in businesses.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00422023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0045<abstract> <title style='display:none'>Abstract</title> <p>History taught us that the best time to talk about adaptability and innovation is that of disruption, crisis and adverse conditions. This research paper addresses the pre- and post-pandemic learning environment in terms of online and classroom delivery. The main objective of this research paper is to analyze factors that have been impacted by the shift from face-to-face (or in person) to online learning practices, assessing elements related to a learning session as: logistics, participation adoption, tools, feedback and geographical span. As research method, the approach incorporates a case study on the European population of one of the major players in the service industry in analyzing European relevant training data points, over a period of three years. Reasoning of data comparison is aligned to data relevance, hence one-year pre pandemic versus two years in the forced virtual delivery of pandemic conditions. The main aspects under research were aiming for a found analysis of a sustainable shift while understanding the implications of such changes. The result of the study shows a positive learning landscape, with multiple opportunities for those ready to adapt, a trusted tool for sustainability and yet at the early age of becoming one of the core elements for keeping relevant in the business imperatives. The element of novelty in this study suggests impact, shift, dependability and responsibility for learning at scale; and the global impact of the adapted learning opportunities, such as awareness, relevance and adoption rate of learning offerings.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00452023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0044<abstract> <title style='display:none'>Abstract</title> <p>Extensive literature on the subject of International Joint Ventures (IJVs) has developed during the last few decades. This work aims at identifying the main trends in this literature using a bibliometric analysis. The analysis of 507 studies published between 1975 and 2019 has allowed for the identification of key authors and journals and has revealed that the literature is focused on topics related to performance and success factors, knowledge acquisition and management, control and developing economies such as China. Thus, future research can focus on topics that have been neglected such as corporate social responsibility, legitimacy and absorptive capacity, and the study of countries and regions relatively neglected.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00442023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0046<abstract> <title style='display:none'>Abstract</title> <p>It is well known that the level of competition in an industry is a key determinant of the marketing strategy for the bidders participating in a market. On the other hand, the consumers’ reactions to the actions of organizations are an indicator to follow when defining the companies’ marketing strategies. The marketing approach to competition issues can be seen differently from an economic theory angle. Thus, while the economic theory argues that finding similar ways of acting is the key to securing a similar position on the market, the marketing theory emphasizes differentiation from competition, even an extreme differentiation from competition, which ensures a favorable positioning in the minds of consumers. This paper aims to explain the link between the level of competition on a market, an organization’s marketing strategy and consumer behavior, as a vector of response to the actions taken by the organization as a supplier, but also as a direct participant in the shaping of the company’s market strategy. The approach will be a theoretical one, coupled with research from secondary data sources that will highlight how European consumers perceive competition in the current economic context.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00462023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0058<abstract> <title style='display:none'>Abstract</title> <p>In the knowledge-based society, knowledge workers ares the most important resource for organisations, and they are increasingly striving to attract and retain them. One of the tools that organisations are using more and more frequently lately is growing job satisfaction. Studies in recent years have shown that, companies with a high level of job satisfaction tend to have higher profitability and productivity and reduced knowledge worker turnover. All this justifies the growing interest of management of modern organizations in identifying the level of employee satisfaction and methods of increasing it. The aim of the paper is to present to readers with all these concepts, to determine to what extent the concept of job satisfaction is known by knowledge workers and what elements are taken into account to measure the level of job satisfaction and the frequency of their use. We are aware that it is not enough to present only the theory of a complex economic concept, therefore we have carried out and present in the paper the second part of our research addressing these issues.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00582023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0047<abstract> <title style='display:none'>Abstract</title> <p>Social media has become an almost permanent presence in our lives and in the business world. In the last two decades the marketing activity has changed greatly due to the development, of social interaction platforms such as Facebook, Instagram, Twitter, or TikTok. The usage of social media marketing has created new challenges for the marketing specialists which needed to adapt and adjust their strategies to meet the direction but the business environment is going. Among the challenges that the marketing world is facing when using social media is that of profiling the consumers (current and potential) in order to achieve a successful marketing strategy and therefore lead to higher financial gains. The current paper aims to bring forward the importance of social media profiling in the marketing activity while underlining some important theoretical aspects about social media and profiling and at the same time presenting the results over short secondary data analysis that shows some general profiles for Instagram and TikTok user, with a direct link to the evolution of the revenues generated by the advertising done on the two mentioned social media platforms.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00472023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0057<abstract> <title style='display:none'>Abstract</title> <p>The structures of regional economies play a critical role in determining both a region’s productivity and its resilience to shocks. We extend previous work on the regional occupation and skills structure by analyzing the effect of a region’s industry structure. We operationalize the concept of economic structure by constructing a network of interdependent economic components, employing ecological techniques of co-occurrence analysis to infer interactions between industries. For each U.S. metropolitan statistical area, we create an aggregate measure of economic tightness that captures the degree of interconnectedness among a region’s industries. We find that industry tightness, which we find is partly driven by rare industry pairs, is positively correlated with a region’s economic productivity, negatively correlated with a region’s change in productivity following the Great Recession. This study contributes to an understanding of the tradeoff between productivity and resilience, which is intended to help policy makers that face similar real-world tradeoffs.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00572023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0051<abstract> <title style='display:none'>Abstract</title> <p>Mergers and/or acquisitions (M&amp;A) are important business operations for firms that wish to diversify, become stronger and more competitive. The main objective of this paper is to investigate the impact of M&amp;A announcements on the abnormal stock returns of firms listed on the Portugal and Spain stock exchanges. The empirical work analyzed 29 trades in the PSI-20 and 25 trades in the IBEX-35, since the year 2000, using the event study methodology. Most of the research investigates corporate combinations that take place in international markets and among large firms. Therefore, a first contribution of this paper is to study the phenomenon in smaller markets and firms. The results suggest that the two markets react differently to announcements of M&amp;A. Overall, the findings seem to show that in the Portuguese market the joint firms present average gains and that in the Spanish market the joint firms present average losses, bidders have sharper reactions and targets have higher losses. The study also indicates that the abnormal returns of the Portuguese firms (especially the bidders) and the Spanish bidding firms tended to stabilize around a week after the announcement date. This conclusion is another useful contribution of the paper for academics and decision makers of corporate restructuring.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00512023-01-27T00:00:00.000+00:00https://sciendo.com/article/10.2478/sbe-2022-0048<abstract> <title style='display:none'>Abstract</title> <p>This study uses a systematic review of the literature using the bibliometric method. Research methods – selection, bibliographic analysis, grouping and systematic content analysis of scientific publications. Content analysis or quantitative analysis of publications is the transformation of mass textual information into quantitative indicators. The search for information for bibliometric analysis was performed in two scientometric databases Scopus and Web of Science on the keyword “integrated reporting” in the period between 1990-2020. Based on the obtained data, bibliographic maps were formed using the VOSviewer research visualization and clustering analysis tool. The analysis revealed 308 publications in the Scopus database and 393 publications in the Web of Science database. The number of publications on integrated reporting has been growing dynamically in recent years, which confirms the scientific interest among scientists. The constructed bibliometric maps made it possible to visually identify the most used keywords and authors in the researched articles, which form separate scientific schools. The results of the analysis allowed to establish the current state of scientific research on the subject, to conduct a comparative analysis of bibliometric indicators, to identify areas of interest for authors, to explore issues and identify prospects for further development of integrated reporting as a source of information on environmental activities.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/sbe-2022-00482023-01-27T00:00:00.000+00:00en-us-1