Inflation in most of the countries of the European Union has recently increased significantly. One of the main reasons for this is higher imports and, especially, energy prices. It is very important to investigate the specific characteristics of this process in different countries to better understand the reasons why countries are different in sensitivity to international shocks. This knowledge helps to improve inflation control. The results of a statistical analysis of 1269 balanced panel observations have revealed differences in inflationary reactions in European countries and possible reasons for these differences. These shocks were most significant in Lithuania, Estonia, Latvia, and Hungary.
{"title":"RESILIENCE OF CONSUMER PRICES LEVEL TO INTERNATIONAL TRADE SHOCKS IN EUROPEAN UNION","authors":"Daiva Burkšaitienė, Vytautas Snieška","doi":"10.3846/bm.2023.1066","DOIUrl":"https://doi.org/10.3846/bm.2023.1066","url":null,"abstract":"Inflation in most of the countries of the European Union has recently increased significantly. One of the main reasons for this is higher imports and, especially, energy prices. It is very important to investigate the specific characteristics of this process in different countries to better understand the reasons why countries are different in sensitivity to international shocks. This knowledge helps to improve inflation control. The results of a statistical analysis of 1269 balanced panel observations have revealed differences in inflationary reactions in European countries and possible reasons for these differences. These shocks were most significant in Lithuania, Estonia, Latvia, and Hungary.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114790925","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The manifestation of democracy in local government development planning is the involvement of citizens in this process. Although municipalities are much closer to residents than national-level administrative institutions, the involvement of residents in the work of municipalities largely depends on the openness and willingness of municipalities to cooperate with residents. Residents’ interest in the development of their municipality is related to their interest in the process and knowledge of municipal budgeting. The purpose of the study is to investigate the involvement of citizens in the process of developing the budget of their municipality, while the tasks are the theoretical basis for planning the municipal process and to analyse the interest in the municipal budget process and the reasons for studying the municipal budget. The empirical study used a survey that was sent to randomly selected residents of Latvian municipalities. As a result of the study, recommendations were developed as to why and how involvement in the budget development planning of one’s municipality can take place.
{"title":"INVOLVEMENT OF CITIZENS IN MUNICIPAL BUDGET PLANNING IN LATVIA","authors":"Iveta Linina, Gita Jansevica, R. Zvirgzdiņa","doi":"10.3846/bm.2023.1080","DOIUrl":"https://doi.org/10.3846/bm.2023.1080","url":null,"abstract":"The manifestation of democracy in local government development planning is the involvement of citizens in this process. Although municipalities are much closer to residents than national-level administrative institutions, the involvement of residents in the work of municipalities largely depends on the openness and willingness of municipalities to cooperate with residents. Residents’ interest in the development of their municipality is related to their interest in the process and knowledge of municipal budgeting. The purpose of the study is to investigate the involvement of citizens in the process of developing the budget of their municipality, while the tasks are the theoretical basis for planning the municipal process and to analyse the interest in the municipal budget process and the reasons for studying the municipal budget. The empirical study used a survey that was sent to randomly selected residents of Latvian municipalities. As a result of the study, recommendations were developed as to why and how involvement in the budget development planning of one’s municipality can take place.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126810789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
J. Titko, Julija Bistrova, Kristine Uzule, Natalja Verina, Jelena Budanceva
This paper reflects the results of the pilot research within the series of studies aimed at evaluating the level of knowledge about financial investments among Latvian citizens, perceived complexity of the investments-related issues, attitudes towards financial products, savings, and investments, as well as at getting a general insight about citizens’ investment behaviour. The goal of the pilot research was to evaluate the perceived complexity of the investments-related questions, as well as to get an insight about the motives and barriers to start investing. The sample included 300 respondents. The survey was made using the authors’ developed questionnaire; the data was processed by means of the frequency analysis. To analyze open-ended questions consistent with the discourse analysis methodology, the openaccess software AntConc was used. Most difficult questions for respondents were those about bonds. Most respondents treat their knowledge about investments at the below-average level. Lack of free financial resources was mentioned as the most important barrier for making investments by 35% of respondents.
{"title":"KNOWLEDGE, ATTITUDE AND BEHAVIOUR TOWARD INVESTMENTS: PILOT STUDY ON LATVIAN SAMPLE","authors":"J. Titko, Julija Bistrova, Kristine Uzule, Natalja Verina, Jelena Budanceva","doi":"10.3846/bm.2023.971","DOIUrl":"https://doi.org/10.3846/bm.2023.971","url":null,"abstract":"This paper reflects the results of the pilot research within the series of studies aimed at evaluating the level of knowledge about financial investments among Latvian citizens, perceived complexity of the investments-related issues, attitudes towards financial products, savings, and investments, as well as at getting a general insight about citizens’ investment behaviour. The goal of the pilot research was to evaluate the perceived complexity of the investments-related questions, as well as to get an insight about the motives and barriers to start investing. The sample included 300 respondents. The survey was made using the authors’ developed questionnaire; the data was processed by means of the frequency analysis. To analyze open-ended questions consistent with the discourse analysis methodology, the openaccess software AntConc was used. Most difficult questions for respondents were those about bonds. Most respondents treat their knowledge about investments at the below-average level. Lack of free financial resources was mentioned as the most important barrier for making investments by 35% of respondents.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133912903","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Green technologies have great potential to meet economic sustainability challenges. The purpose of this paper is to review which sectors use the greenest technology and which benefits they are giving. This paper examines which business sectors are using green technologies and how effective they are. The most green technologies are used in the logistics, construction, and information technology sectors. The main factors determining the help of technology are the various problems technology addresses, such as cost increases, lack of human resources, and limited resources. Over 40 articles have been analyzed in this paper, which has led to a scientific literature analysis on technologies in business that have a low environmental impact and contribute to economic growth. The data from Eurostat EIS database collected was structured through a descriptive analysis of the application of green technologies in various business activities using generalization methods. The investigation revealed the benefits and potential that 30 percent of carbon footprint could be reduced by using artificial intelligence (AI) in business. The previous papers discussed the application of AI in one of areas and not covered several different areas, however, this paper summarizes the application of AI practices in different business areas. The study has shown that green technologies offer significant economic and environmental benefits.
{"title":"APPLYING GREEN TECHNOLOGIES TO IMPROVE BUSINESS SUSTAINABILITY","authors":"Gintarė Byčenkaitė, A. Burinskienė","doi":"10.3846/bm.2023.1055","DOIUrl":"https://doi.org/10.3846/bm.2023.1055","url":null,"abstract":"Green technologies have great potential to meet economic sustainability challenges. The purpose of this paper is to review which sectors use the greenest technology and which benefits they are giving. This paper examines which business sectors are using green technologies and how effective they are. The most green technologies are used in the logistics, construction, and information technology sectors. The main factors determining the help of technology are the various problems technology addresses, such as cost increases, lack of human resources, and limited resources. Over 40 articles have been analyzed in this paper, which has led to a scientific literature analysis on technologies in business that have a low environmental impact and contribute to economic growth. The data from Eurostat EIS database collected was structured through a descriptive analysis of the application of green technologies in various business activities using generalization methods. The investigation revealed the benefits and potential that 30 percent of carbon footprint could be reduced by using artificial intelligence (AI) in business. The previous papers discussed the application of AI in one of areas and not covered several different areas, however, this paper summarizes the application of AI practices in different business areas. The study has shown that green technologies offer significant economic and environmental benefits.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129363602","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this paper we analyse the effects of the adoption of euro on the economies of the three Baltic countries. We employ the difference-in-differences approach to estimate the impact of the currency changeover on the product prices in the Baltic states. We also examine which specific demographic groups of consumers (by their age, education and income levels) were the most sensitive for the currency changeover. Our results suggest that the greatest euro-related price increase in the Baltic countries was related to the products belonging to the 4th and the 5th price quantiles, especially services. We also find that in the Baltic countries consumers groups which reacted to the adoption of euro the most sensitively were better educated people between 30 and 49 years. However, the impact of currency changeover for the consumers seems to be country specific.
{"title":"GAINERS AND LOSERS OF EURO ADOPTION: THE CASE OF THE BALTIC STATES","authors":"Vaiva Petrylė, Karolina Bunevičiūtė","doi":"10.3846/bm.2023.1010","DOIUrl":"https://doi.org/10.3846/bm.2023.1010","url":null,"abstract":"In this paper we analyse the effects of the adoption of euro on the economies of the three Baltic countries. We employ the difference-in-differences approach to estimate the impact of the currency changeover on the product prices in the Baltic states. We also examine which specific demographic groups of consumers (by their age, education and income levels) were the most sensitive for the currency changeover. Our results suggest that the greatest euro-related price increase in the Baltic countries was related to the products belonging to the 4th and the 5th price quantiles, especially services. We also find that in the Baltic countries consumers groups which reacted to the adoption of euro the most sensitively were better educated people between 30 and 49 years. However, the impact of currency changeover for the consumers seems to be country specific.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114435900","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study examines the impact of environmental, social and governance performance and controversies on stock return volatility. For this purpose, I considered a sample of 1095 European companies from 23 countries during 2019–2022 and it was applied panel regression. This study found a direct influence of ESG controversies on stock return volatility, but the coefficient of the dependence is close to zero. Similarly, the ESG performance has a direct impact on volatility and the coefficient of dependence is different from zero. This result shows that companies with a better performance on ESG face higher stock return volatility. The study findings enrich the academic literature and can help investors in the investment decisions making.
{"title":"THE IMPACT OF ESG CONTROVERSIES AND ESG PERFORMANCE ON STOCK RETURN VOLATILITY","authors":"Diana-Mihaela Sandu","doi":"10.3846/bm.2023.1032","DOIUrl":"https://doi.org/10.3846/bm.2023.1032","url":null,"abstract":"This study examines the impact of environmental, social and governance performance and controversies on stock return volatility. For this purpose, I considered a sample of 1095 European companies from 23 countries during 2019–2022 and it was applied panel regression. This study found a direct influence of ESG controversies on stock return volatility, but the coefficient of the dependence is close to zero. Similarly, the ESG performance has a direct impact on volatility and the coefficient of dependence is different from zero. This result shows that companies with a better performance on ESG face higher stock return volatility. The study findings enrich the academic literature and can help investors in the investment decisions making.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127110704","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
O. Cheberyako, Z. Varnalii, V. Kolesnyk, N. Miedviedkova
Purpose – to study the prospects for the post-war reconstruction of Ukraine through the creation of financial recovery funds based on an analysis of the current financial condition of the warring country, trends in functioning under an ongoing full-scale war, and the historical experience of post-war reconstruction. Research methodology – dialectical method, systemic-structural method, comparison, theoretical generalization, grouping, and tabular method. Findings – the main prerequisite for the post-war reconstruction of Ukraine is to obtain reliable security guarantees regarding the impossibility of resuming hostilities in the Ukrainian territory and the development by the Ukrainian Government of a Recovery Plan supported by international donors, through the formation of recovery funds.
{"title":"RECOVERY FUNDS IN THE SYSTEM OF ENSURING THE FINANCIAL SECURITY OF UKRAINE","authors":"O. Cheberyako, Z. Varnalii, V. Kolesnyk, N. Miedviedkova","doi":"10.3846/bm.2023.1046","DOIUrl":"https://doi.org/10.3846/bm.2023.1046","url":null,"abstract":"Purpose – to study the prospects for the post-war reconstruction of Ukraine through the creation of financial recovery funds based on an analysis of the current financial condition of the warring country, trends in functioning under an ongoing full-scale war, and the historical experience of post-war reconstruction.\u0000Research methodology – dialectical method, systemic-structural method, comparison, theoretical generalization, grouping, and tabular method.\u0000Findings – the main prerequisite for the post-war reconstruction of Ukraine is to obtain reliable security guarantees regarding the impossibility of resuming hostilities in the Ukrainian territory and the development by the Ukrainian Government of a Recovery Plan supported by international donors, through the formation of recovery funds.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116689402","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article explores sustainable business models in Indian agriculture, assessing sustainability levels through interviews and case studies. Findings show that companies primarily focus on profit creation, with low social and ecological sustainability. However, integrating sustainability elements leads to higher profitability and productivity. The study concludes that while Indian agriculture companies have not prioritized social and environmental aspects, they are increasingly adopting sustainability due to pressure from stakeholders, consumers, and the government.
{"title":"CHALLENGES FOR AGRICULTURE INDUSTRY COMPANIES IN INDIA TO CREATE A SUSTAINABLE BUSINESS MODEL","authors":"Amit Gupta, D. Ščeulovs, M. Ojasoo","doi":"10.3846/bm.2023.1082","DOIUrl":"https://doi.org/10.3846/bm.2023.1082","url":null,"abstract":"This article explores sustainable business models in Indian agriculture, assessing sustainability levels through interviews and case studies. Findings show that companies primarily focus on profit creation, with low social and ecological sustainability. However, integrating sustainability elements leads to higher profitability and productivity. The study concludes that while Indian agriculture companies have not prioritized social and environmental aspects, they are increasingly adopting sustainability due to pressure from stakeholders, consumers, and the government.","PeriodicalId":346157,"journal":{"name":"International Scientific Conference „Business and Management“","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128568366","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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