This paper deals with the need to complexly evaluate maturity, management, stakeholder relationship and resources utilisation of an organisation. It searches for an assessment tool independent on time and industry contexts. The research was conducted in two phases. The literature review on a set of existing performance models did not find any suitable tool. Based on that, a new performance model was created to assess the maturity of an organisation, focusing on soft factors like its leadership, processes and culture. It had been tested using structured interviews with managers in Czech, Slovak, German and Chinese companies. The model is based on a set of 17 non-financial criteria, divided into categories Management, Stakeholders and Resources. The results are given for each criterion, category and as an overall score. This article briefly describes the developed CAT model, methodology of its creation and validation and explains how it can be applied as an assessment tool. Its results can be benchmarked among different organisations/overtime to track development progress. Implications for Central European audience: This model gives both practitioners and researchers a lean, yet powerful tool to evaluate the maturity of an organisation with structured and measurable results. The new possibilities for quantitative research using the CAT model are now available for researchers to assess even larger samples of organisations with reasonable effort. For practitioners, the value is in a quick discovery of own weaknesses/strengths with structured results and recommendations. Model structure and selection of respondents ensures that the results are measurable and cover views of both management and employees.
{"title":"CAT Model for Complex Evaluation of Organisational Maturity in Small and Medium Enterprises","authors":"Jaroslav Hradílek","doi":"10.18267/j.cebr.248","DOIUrl":"https://doi.org/10.18267/j.cebr.248","url":null,"abstract":"This paper deals with the need to complexly evaluate maturity, management, stakeholder relationship and resources utilisation of an organisation. It searches for an assessment tool independent on time and industry contexts. The research was conducted in two phases. The literature review on a set of existing performance models did not find any suitable tool. Based on that, a new performance model was created to assess the maturity of an organisation, focusing on soft factors like its leadership, processes and culture. It had been tested using structured interviews with managers in Czech, Slovak, German and Chinese companies. The model is based on a set of 17 non-financial criteria, divided into categories Management, Stakeholders and Resources. The results are given for each criterion, category and as an overall score. This article briefly describes the developed CAT model, methodology of its creation and validation and explains how it can be applied as an assessment tool. Its results can be benchmarked among different organisations/overtime to track development progress. Implications for Central European audience: This model gives both practitioners and researchers a lean, yet powerful tool to evaluate the maturity of an organisation with structured and measurable results. The new possibilities for quantitative research using the CAT model are now available for researchers to assess even larger samples of organisations with reasonable effort. For practitioners, the value is in a quick discovery of own weaknesses/strengths with structured results and recommendations. Model structure and selection of respondents ensures that the results are measurable and cover views of both management and employees.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":" ","pages":""},"PeriodicalIF":1.3,"publicationDate":"2020-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48741487","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 aims to find out which business risks determine the perception of the business environment of small and medium-sized enterprises (SME) in the future. 454 SMEs from the Czech Republic participated in the case study by filling in an online questionnaire. Linear regression models were used to verify statistically significant causal relationships between selected indicators of business risks and respondents' perception of the future of business. The results show that selected indicators of the market, financial, personnel, legal and operational risk determine the perceived future of business. Strategic risk indicators do not significantly affect the perceived future of business. The most important indicators: market risk — adequacy of sales of products and services; financial risk — an indicator of the company's financial performance; personnel risk — an indicator of employees' initiative to increase performance; legal risk — an indicator of respondents' ability to understand the basic legal aspects and operational risk — an indicator of the use of company capacities. All the indicators from above have a positive effect on the future perception of the company. Implications for Central European audience: The attitudes of small and medium-sized enterprises represent a certain degree of subjectivity (human factor), which does not always reflect the real position of the enterprise. However, it is the main representatives of SMEs (owners and top managers) who try to manage business risks to have a more positive perception of their future in the business environment in the Czech Republic. The results based on the business environment of the Czech Republic are important not only for the owners of SMEs, but also for state and non-profit institutions dealing with various forms of SME support.
{"title":"The Perception of Business Risks by SMEs in the Czech Republic","authors":"J. Dvorský, Ľudmila Kozubíková, Barbora Bacová","doi":"10.18267/j.cebr.250","DOIUrl":"https://doi.org/10.18267/j.cebr.250","url":null,"abstract":"This article aims to find out which business risks determine the perception of the business environment of small and medium-sized enterprises (SME) in the future. 454 SMEs from the Czech Republic participated in the case study by filling in an online questionnaire. Linear regression models were used to verify statistically significant causal relationships between selected indicators of business risks and respondents' perception of the future of business. The results show that selected indicators of the market, financial, personnel, legal and operational risk determine the perceived future of business. Strategic risk indicators do not significantly affect the perceived future of business. The most important indicators: market risk — adequacy of sales of products and services; financial risk — an indicator of the company's financial performance; personnel risk — an indicator of employees' initiative to increase performance; legal risk — an indicator of respondents' ability to understand the basic legal aspects and operational risk — an indicator of the use of company capacities. All the indicators from above have a positive effect on the future perception of the company. Implications for Central European audience: The attitudes of small and medium-sized enterprises represent a certain degree of subjectivity (human factor), which does not always reflect the real position of the enterprise. However, it is the main representatives of SMEs (owners and top managers) who try to manage business risks to have a more positive perception of their future in the business environment in the Czech Republic. The results based on the business environment of the Czech Republic are important not only for the owners of SMEs, but also for state and non-profit institutions dealing with various forms of SME support.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":" ","pages":""},"PeriodicalIF":1.3,"publicationDate":"2020-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44407580","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}
Evaluation of the economic impact of public research and development (R&D) support has become an integral part of the policymaking process. The paper examines the economic effects of the Czech programme TIP supporting R&D in private companies in the recent decade and aspires to contribute to the debate on quantitative methods for assessing outputs additionality of public R&D programmes. The analysis is based on the counter-factual econometric approach, because an appropriate control group could not be found among the unsupported companies, a so-called generalized propensity score matching (GPSM) was used. Two data sources were used: monitoring data of the programme TIP and economic data from the database Bisnode-MagnusWeb. The impact of R&D support on the firms' performance was measured by output indicators: gross value added, profit and productivity. Treatment effects are diverse depending on firm sizes. Generally, the R&D support effects are positive and more substantial in small and medium firms (SMEs) while there are no such effects confirmed for large firms. The support could only impact positively on the output (profit, productivity and gross value added) of small firms only after reaching a certain minimum threshold of the support whereas output diminishes for medium firms after a point of saturation. Implications for Central European audience: This paper results could be useful for policymakers and R&D funding providers because it provides evidence about the microeconomic impacts of programmes, namely it shows the differentiated effects of public interventions toby the size categories of beneficiaries. The analysis confirms that GPSM approach provides deliver logical outcomes and if the investigation is situated to the right period after the programme is accomplished, it has a potential to bring more insight in the effects than the standard dichotomous model.
{"title":"Are There Any Economic Impacts of Business R&D Support? The Case of the Czech Republic","authors":"T. Ratinger, Vladislav Čadil, S. Agyemang","doi":"10.18267/j.cebr.251","DOIUrl":"https://doi.org/10.18267/j.cebr.251","url":null,"abstract":"Evaluation of the economic impact of public research and development (R&D) support has become an integral part of the policymaking process. The paper examines the economic effects of the Czech programme TIP supporting R&D in private companies in the recent decade and aspires to contribute to the debate on quantitative methods for assessing outputs additionality of public R&D programmes. The analysis is based on the counter-factual econometric approach, because an appropriate control group could not be found among the unsupported companies, a so-called generalized propensity score matching (GPSM) was used. Two data sources were used: monitoring data of the programme TIP and economic data from the database Bisnode-MagnusWeb. The impact of R&D support on the firms' performance was measured by output indicators: gross value added, profit and productivity. Treatment effects are diverse depending on firm sizes. Generally, the R&D support effects are positive and more substantial in small and medium firms (SMEs) while there are no such effects confirmed for large firms. The support could only impact positively on the output (profit, productivity and gross value added) of small firms only after reaching a certain minimum threshold of the support whereas output diminishes for medium firms after a point of saturation. Implications for Central European audience: This paper results could be useful for policymakers and R&D funding providers because it provides evidence about the microeconomic impacts of programmes, namely it shows the differentiated effects of public interventions toby the size categories of beneficiaries. The analysis confirms that GPSM approach provides deliver logical outcomes and if the investigation is situated to the right period after the programme is accomplished, it has a potential to bring more insight in the effects than the standard dichotomous model.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":" ","pages":""},"PeriodicalIF":1.3,"publicationDate":"2020-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46479271","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 consequences of both workplace ostracism and workplace loneliness may include negative impacts on employee performance, yet few studies have focused on the interactions between these three constructs. In this context, both current and future studies may make prospective contributions. The goals of this paper are to investigate the associations between these variables and to determine whether workplace loneliness has any moderating effect on the possible association between workplace ostracism and job performance. A quantitative study was designed, and 349 employees in different sectors were included in the research. Findings indicated that workplace ostracism was positively associated with workplace loneliness, while it was negatively associated with job performance. A negative association between workplace loneliness and job performance was also estimated. Neither workplace loneliness as a whole nor social companionship had any moderating effects on the workplace ostracism–job performance association. On the other hand, emotional deprivation was found to have a moderating effect on this relationship. The findings prove that in combination, emotional loneliness and ostracism cause greater damage to employee psychology and, therefore, more greatly reduce job performance. Implications for the Central European audience: The study demonstrates that among the aspects of workplace loneliness, the emotional component is more critical to employee psychology and, therefore, job performance. Determining the factors that cause emotional loneliness in the workplace and taking precautions against them seem to be significant to the achievement of organisational goals.
{"title":"'Being Alone Is More Painful than Getting Hurt': The Moderating Role of Workplace Loneliness in the Association between Workplace Ostracism and Job Performance","authors":"O. Uslu","doi":"10.18267/j.cebr.257","DOIUrl":"https://doi.org/10.18267/j.cebr.257","url":null,"abstract":"The consequences of both workplace ostracism and workplace loneliness may include negative impacts on employee performance, yet few studies have focused on the interactions between these three constructs. In this context, both current and future studies may make prospective contributions. The goals of this paper are to investigate the associations between these variables and to determine whether workplace loneliness has any moderating effect on the possible association between workplace ostracism and job performance. A quantitative study was designed, and 349 employees in different sectors were included in the research. Findings indicated that workplace ostracism was positively associated with workplace loneliness, while it was negatively associated with job performance. A negative association between workplace loneliness and job performance was also estimated. Neither workplace loneliness as a whole nor social companionship had any moderating effects on the workplace ostracism–job performance association. On the other hand, emotional deprivation was found to have a moderating effect on this relationship. The findings prove that in combination, emotional loneliness and ostracism cause greater damage to employee psychology and, therefore, more greatly reduce job performance. Implications for the Central European audience: The study demonstrates that among the aspects of workplace loneliness, the emotional component is more critical to employee psychology and, therefore, job performance. Determining the factors that cause emotional loneliness in the workplace and taking precautions against them seem to be significant to the achievement of organisational goals.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":" ","pages":""},"PeriodicalIF":1.3,"publicationDate":"2020-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46256165","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}
Consumers play extra-role behaviours, while actively participating in designing and improving goods and services, thus becoming prosumers. Modding, i.e. game modifications which aim at creating new or improving experience to the players is an interesting form of prosumption observed in game industry. The general purpose of the study is to identify to what extent players are willing to perform game modding, as well as who and how may benefit from this extra role behaviour. Qualitative research was conducted in the form of focus groups with Polish game players. Results of the conducted research allowed to identify benefits for four group of beneficiaries, i.e.: players as mod users (game diversification, better customisation, higher quality of games, more realism of the game, fun and excitement to play a modified or a new game, prolonged games’ lifespans), modders as mod creators (creativity, gaining knowledge about how to create a game, social affiliation and pride or career development) game developers (extending games’ lifespans, updating, and renewing game, improving the quality of games, the opportunity to reach a wider audience) and intermediaries like cloud gaming platforms which share the benefits with game developers. Implications for Central European audience: The study provides evidence that customers’ inclination to prosume may vary and is stimulated by specific drivers in the form of perceived benefits. Thus, the research supports Adam’s equity theory. From the managerial perspective, the current study provides useful actionable guidance on how to encourage players to engage in real prosumtion in virtual worlds. Game producers need to learn about their customers’ needs outside of normal exchange processes. Players shall be perceived as inseparable part of gaming industry, who deliver an extra value to the market by game modding activities.
{"title":"Players as Prosumers - How Customer Engagement in Game Modding May Benefit Computer Game Market","authors":"Anna Dewalska-Opitek, Magdalena Hofman-Kohlmeyer","doi":"10.18267/j.cebr.261","DOIUrl":"https://doi.org/10.18267/j.cebr.261","url":null,"abstract":"Consumers play extra-role behaviours, while actively participating in designing and improving goods and services, thus becoming prosumers. Modding, i.e. game modifications which aim at creating new or improving experience to the players is an interesting form of prosumption observed in game industry. The general purpose of the study is to identify to what extent players are willing to perform game modding, as well as who and how may benefit from this extra role behaviour. Qualitative research was conducted in the form of focus groups with Polish game players. Results of the conducted research allowed to identify benefits for four group of beneficiaries, i.e.: players as mod users (game diversification, better customisation, higher quality of games, more realism of the game, fun and excitement to play a modified or a new game, prolonged games’ lifespans), modders as mod creators (creativity, gaining knowledge about how to create a game, social affiliation and pride or career development) game developers (extending games’ lifespans, updating, and renewing game, improving the quality of games, the opportunity to reach a wider audience) and intermediaries like cloud gaming platforms which share the benefits with game developers. Implications for Central European audience: The study provides evidence that customers’ inclination to prosume may vary and is stimulated by specific drivers in the form of perceived benefits. Thus, the research supports Adam’s equity theory. From the managerial perspective, the current study provides useful actionable guidance on how to encourage players to engage in real prosumtion in virtual worlds. Game producers need to learn about their customers’ needs outside of normal exchange processes. Players shall be perceived as inseparable part of gaming industry, who deliver an extra value to the market by game modding activities.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":" ","pages":""},"PeriodicalIF":1.3,"publicationDate":"2020-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45922588","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}
{"title":"Attempts by MNCs to Expand the Creative and Innovative Spirit through the Concept of Agility: Role of Global Managers","authors":"Vincent Montenero, Cristina Cazorzi","doi":"10.18267/j.cebr.247","DOIUrl":"https://doi.org/10.18267/j.cebr.247","url":null,"abstract":"","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":" ","pages":""},"PeriodicalIF":1.3,"publicationDate":"2020-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42948152","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 the young Croatian democracy, there is a necessary role of the strategic approach to the political marketing communication campaigns, especially in using the new media, social networks and Facebook, being the most representative one. This paper aims to analyse to what degree the political parties use Facebook, how they manage this, and the opinions and viewpoints of the voters. This study has two major goals: to analyse how the leading political parties in Croatia use and manage social media services, particularly Facebook, and to evaluate perspectives of the Croatian voters regarding social media during political campaigns. Two instruments were created based on the secondary research: a protocol for in-depth semi-structured interviews conducted with the social media specialists of the leading Croatian political parties (n = 3) and a survey of voters (n = 557), ranging in age from 18-45 years (78.1%), 46-55 years (14.7%), 56-65 years (6.1%) and older than 66 (1.1%). Croatian political parties do not use Facebook's entire potential. The respondents who vote regularly believe that the political parties' Facebook pages are significant in their promotion and visit these pages more frequently. These pages are visited more frequently during political campaigns. It is imperative to focus on increased quality and more frequent communication, direct communication and turning to young people in the campaigns. There are statistically significant differences with regard to age on the issue of voting. Croatian political parties can improve the potential of social networks, primarily Facebook, in election campaigns.Implications for a Central European audience: In addition to the specified deficiencies of the Facebook pages, the voters provided suggestions for improving the Facebook content and increasing page visits. When used in combination with other social media, Facebook has the strongest potential for influencing the young voters. The results indicate the need for professional management of relevant social media strategies and tactics. The improvements of the Facebook pages can be grouped in several categories, the most important being "Content", "Communication" and "Strategy". The improvements would yield more frequent visits by the potential voters.
{"title":"The Implications of Facebook in Political Marketing Campaigns in Croatia","authors":"Maja Martinović, Valentina Pirić, Kristijan Krkač","doi":"10.18267/J.CEBR.244","DOIUrl":"https://doi.org/10.18267/J.CEBR.244","url":null,"abstract":"In the young Croatian democracy, there is a necessary role of the strategic approach to the political marketing communication campaigns, especially in using the new media, social networks and Facebook, being the most representative one. This paper aims to analyse to what degree the political parties use Facebook, how they manage this, and the opinions and viewpoints of the voters. This study has two major goals: to analyse how the leading political parties in Croatia use and manage social media services, particularly Facebook, and to evaluate perspectives of the Croatian voters regarding social media during political campaigns. Two instruments were created based on the secondary research: a protocol for in-depth semi-structured interviews conducted with the social media specialists of the leading Croatian political parties (n = 3) and a survey of voters (n = 557), ranging in age from 18-45 years (78.1%), 46-55 years (14.7%), 56-65 years (6.1%) and older than 66 (1.1%). Croatian political parties do not use Facebook's entire potential. The respondents who vote regularly believe that the political parties' Facebook pages are significant in their promotion and visit these pages more frequently. These pages are visited more frequently during political campaigns. It is imperative to focus on increased quality and more frequent communication, direct communication and turning to young people in the campaigns. There are statistically significant differences with regard to age on the issue of voting. Croatian political parties can improve the potential of social networks, primarily Facebook, in election campaigns.Implications for a Central European audience: In addition to the specified deficiencies of the Facebook pages, the voters provided suggestions for improving the Facebook content and increasing page visits. When used in combination with other social media, Facebook has the strongest potential for influencing the young voters. The results indicate the need for professional management of relevant social media strategies and tactics. The improvements of the Facebook pages can be grouped in several categories, the most important being \"Content\", \"Communication\" and \"Strategy\". The improvements would yield more frequent visits by the potential voters.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":"9 1","pages":"73-95"},"PeriodicalIF":1.3,"publicationDate":"2020-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44499922","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}
Květa Olšanová, G. Cook, P. Král, Ondřej Vilikus, Marija Zlatić
Country of origin (COO) plays a vital role in the luxury market. This paper investigates the extent to which luxury shoppers are aware of domestic luxury brands, and in which categories they would consider buying them. Our results, based on a survey of 253 luxury buyers in the Czech Republic, indicate that there is an opportunity for local brand development in categories such as luxury glass and crystal home accessories, designer furniture and lights, which are outside the scope of the “traditional luxury industry”. Additional findings are also highlighted: for more than two-thirds of actual luxury shoppers; the local COO would be a reason to consider purchasing a luxury brand. Perceptual differences of domestic vs global luxury brands are also indicated.Implications for a Central European audience: Managerial implications target at managers of domestic or emerging luxury brands in non-traditional luxury markets with a specific demographic segment of potential mature luxury customers. They have a higher affinity for domestic luxury products.
{"title":"Exploration of Opportunities for Development of CEE Domestic Luxury Brands: Case of the Czech Republic","authors":"Květa Olšanová, G. Cook, P. Král, Ondřej Vilikus, Marija Zlatić","doi":"10.18267/J.CEBR.246","DOIUrl":"https://doi.org/10.18267/J.CEBR.246","url":null,"abstract":"Country of origin (COO) plays a vital role in the luxury market. This paper investigates the extent to which luxury shoppers are aware of domestic luxury brands, and in which categories they would consider buying them. Our results, based on a survey of 253 luxury buyers in the Czech Republic, indicate that there is an opportunity for local brand development in categories such as luxury glass and crystal home accessories, designer furniture and lights, which are outside the scope of the “traditional luxury industry”. Additional findings are also highlighted: for more than two-thirds of actual luxury shoppers; the local COO would be a reason to consider purchasing a luxury brand. Perceptual differences of domestic vs global luxury brands are also indicated.Implications for a Central European audience: Managerial implications target at managers of domestic or emerging luxury brands in non-traditional luxury markets with a specific demographic segment of potential mature luxury customers. They have a higher affinity for domestic luxury products.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":"9 1","pages":"59-72"},"PeriodicalIF":1.3,"publicationDate":"2020-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45524107","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}
Foreign direct investment (FDI) plays a crucial role in the growth and development of transitional economies and especially in countries where domestic capital is insufficient to meet the investment needs of the economy. Albania is a country applying for E.U. integration, so the country's central policies in recent years have brought about a liberalized economic framework and improved conditions for business development, attracting highly sought after FDI. This paper will provide an analysis of FDI in Albania and make a comparative analysis with the Western Balkan (W.B.) countries. The focus of the paper will also be on analyzing some of the critical elements that make these countries attractive to FDI, such as: analyzing the sectoral distribution of FDI stocks, the impact that inflows have had on the development of domestic economies, in creating jobs. FDI flows even though they have been in an upward trend, have not yet reached the desired expectations levels. W.B. countries have some very potential sectors to increase in the future and to be more attractive for FDI, such as tourism, service, transport, agriculture, industry. FDI had a positive impact on Albania's economy and in other Balkan countries. However, the region still needs to make many improvements in implementing institutional reforms, building and operating democratic institutions, improving the infrastructure. All countries need to collaborate to enhance political instability, resolve conflicts, and to focus on improvements and policies to attract potential investors.Implications for a Central European audience: This paper aims to contribute to increasing the knowledge about the opportunities and potential sectors to invest in the W.B. area. The article may make a positive contribution to the Central European businesses generally and especially to firms that are interested in investing their capital in W.B countries or scholars who currently study the effects of FDI in developing countries. There is an analysis of how public policies can further increase the attraction of FDIs, which is beneficial for public officials aspiring to absorb foreign investments in their area of oversight. The optimal geographical position of Albania and W.B. countries has played an essential role in attracting foreign investments for neighbouring countries and especially European Union countries. Central European countries such as Hungary, Austria, and Switzerland are leaders or significant investors in the region. The distance between host and recipient countries have been a dominant factor of FDI, as well as cultural and linguistic resemblances.
{"title":"Discussion: Challenges and Recent Developments of Foreign Direct Investments in Albania and Western Balkan Countries","authors":"Oltiana Muharremi","doi":"10.18267/J.CEBR.242","DOIUrl":"https://doi.org/10.18267/J.CEBR.242","url":null,"abstract":"Foreign direct investment (FDI) plays a crucial role in the growth and development of transitional economies and especially in countries where domestic capital is insufficient to meet the investment needs of the economy. Albania is a country applying for E.U. integration, so the country's central policies in recent years have brought about a liberalized economic framework and improved conditions for business development, attracting highly sought after FDI. This paper will provide an analysis of FDI in Albania and make a comparative analysis with the Western Balkan (W.B.) countries. The focus of the paper will also be on analyzing some of the critical elements that make these countries attractive to FDI, such as: analyzing the sectoral distribution of FDI stocks, the impact that inflows have had on the development of domestic economies, in creating jobs. FDI flows even though they have been in an upward trend, have not yet reached the desired expectations levels. W.B. countries have some very potential sectors to increase in the future and to be more attractive for FDI, such as tourism, service, transport, agriculture, industry. FDI had a positive impact on Albania's economy and in other Balkan countries. However, the region still needs to make many improvements in implementing institutional reforms, building and operating democratic institutions, improving the infrastructure. All countries need to collaborate to enhance political instability, resolve conflicts, and to focus on improvements and policies to attract potential investors.Implications for a Central European audience: This paper aims to contribute to increasing the knowledge about the opportunities and potential sectors to invest in the W.B. area. The article may make a positive contribution to the Central European businesses generally and especially to firms that are interested in investing their capital in W.B countries or scholars who currently study the effects of FDI in developing countries. There is an analysis of how public policies can further increase the attraction of FDIs, which is beneficial for public officials aspiring to absorb foreign investments in their area of oversight. The optimal geographical position of Albania and W.B. countries has played an essential role in attracting foreign investments for neighbouring countries and especially European Union countries. Central European countries such as Hungary, Austria, and Switzerland are leaders or significant investors in the region. The distance between host and recipient countries have been a dominant factor of FDI, as well as cultural and linguistic resemblances.","PeriodicalId":37276,"journal":{"name":"Central European Business Review","volume":"9 1","pages":"96-111"},"PeriodicalIF":1.3,"publicationDate":"2020-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44885858","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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