Regardless of the prevalence of change, getting employees on board is hard to achieve. While the investigation of leadership and change readiness has been done continuously, the examination of staff involvement in change and working culture, particularly of the non-western world, has been less appreciated. This article addresses this gap by analysing the connection between employee buy-in, trust, relationship, and task-oriented culture. The main data was gathered from 214 respondents. They are employees at a higher education institution in Cambodia and have experienced a technology-driven change recently. The structural equation model reveals significant relationships between trust and working relationship as well as task-oriented culture, highlighting the pivotal role of these cultural attributes in fostering trust and facilitating buy-in for change. The findings contribute to Social Exchange Theory by showcasing the reciprocal exchange between the employee relationship and support in organizational changes and portray a missing trust among Cambodian employees. Recommendations were drawn from the findings for the betterment of change practices by the managers and practitioners.
{"title":"Examining Employee Buy-In for Organizational Change: A Structural Equation Model","authors":"Ratana Som, Raksmey Chan","doi":"10.2478/sbe-2024-0036","DOIUrl":"https://doi.org/10.2478/sbe-2024-0036","url":null,"abstract":"Regardless of the prevalence of change, getting employees on board is hard to achieve. While the investigation of leadership and change readiness has been done continuously, the examination of staff involvement in change and working culture, particularly of the non-western world, has been less appreciated. This article addresses this gap by analysing the connection between employee buy-in, trust, relationship, and task-oriented culture. The main data was gathered from 214 respondents. They are employees at a higher education institution in Cambodia and have experienced a technology-driven change recently. The structural equation model reveals significant relationships between trust and working relationship as well as task-oriented culture, highlighting the pivotal role of these cultural attributes in fostering trust and facilitating buy-in for change. The findings contribute to Social Exchange Theory by showcasing the reciprocal exchange between the employee relationship and support in organizational changes and portray a missing trust among Cambodian employees. Recommendations were drawn from the findings for the betterment of change practices by the managers and practitioners.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142196716","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}
Claudia Ogrean, Mihaela Herciu, Mihai Tichindelean
The aim of the study is to get a comprehensive understanding of the research landscape at the nexus between business model innovation, sustainability and/or digitalization, in order to determine key research patterns and trends. Accordingly, the following objectives have guided the development of the paper: (a) to examine the dynamics and structure of the research output (articles and citations) on the topic; (b) to explore the network of the most impactful articles; (c) to trace the origins of the research on the topic; (d) to decipher current developments in the research on the topic; and (e) to search for emerging trends in the research on the topic. An advanced search of the SCOPUS database was conducted to identify the relevant literature available; 1195 articles (published between 2014 and 2023) were selected and exported in VOSviewer for bibliometric analysis. The results suggest the emergence of a niche research area in the broad strategic management field, bringing together four related (sub)topics: (1) circular economy and sustainable business models; (2) tools, frameworks and processes for sustainable business model innovation; (3) digitalization and business model transformation; (4) business models for societal and sustainability transitions. For this research area to crystallize, the identified emerging research trends – on digital innovation and technology; strategic management and analytical methods; supply chain and manufacturing; policy, governance and sustainability – need to be further explored, both individually (in search of refinement and clarity) and collectively (in search of consistency and synergy).
{"title":"Integrating Sustainability and Digitalization in Business Model Innovation. A Bibliometric Study","authors":"Claudia Ogrean, Mihaela Herciu, Mihai Tichindelean","doi":"10.2478/sbe-2024-0040","DOIUrl":"https://doi.org/10.2478/sbe-2024-0040","url":null,"abstract":"The aim of the study is to get a comprehensive understanding of the research landscape at the nexus between business model innovation, sustainability and/or digitalization, in order to determine key research patterns and trends. Accordingly, the following objectives have guided the development of the paper: (a) to examine the dynamics and structure of the research output (articles and citations) on the topic; (b) to explore the network of the most impactful articles; (c) to trace the origins of the research on the topic; (d) to decipher current developments in the research on the topic; and (e) to search for emerging trends in the research on the topic. An advanced search of the SCOPUS database was conducted to identify the relevant literature available; 1195 articles (published between 2014 and 2023) were selected and exported in VOSviewer for bibliometric analysis. The results suggest the emergence of a niche research area in the broad strategic management field, bringing together four related (sub)topics: (1) circular economy and sustainable business models; (2) tools, frameworks and processes for sustainable business model innovation; (3) digitalization and business model transformation; (4) business models for societal and sustainability transitions. For this research area to crystallize, the identified emerging research trends – on digital innovation and technology; strategic management and analytical methods; supply chain and manufacturing; policy, governance and sustainability – need to be further explored, both individually (in search of refinement and clarity) and collectively (in search of consistency and synergy).","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142196694","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 scope of the paper is to describe and interpret the steps and activities that led to the development and implementation of a community-based participatory research program that involved an university, local businesses and community organizations, local autorithies and an external funder. Specifically, the paper addresses the following two questions: first, how was this program designed and implemented, and second, what lessons can be learned from this experience that might be extended to the field of community-based research generally? The instrumental case study methodology was applied and the CBPR Program considered is UniverCity Romania.
{"title":"Developing a Community-Based Participatory Research Program. From Concept to Outcomes","authors":"Roxana Florența Săvescu","doi":"10.2478/sbe-2024-0033","DOIUrl":"https://doi.org/10.2478/sbe-2024-0033","url":null,"abstract":"The scope of the paper is to describe and interpret the steps and activities that led to the development and implementation of a community-based participatory research program that involved an university, local businesses and community organizations, local autorithies and an external funder. Specifically, the paper addresses the following two questions: first, how was this program designed and implemented, and second, what lessons can be learned from this experience that might be extended to the field of community-based research generally? The instrumental case study methodology was applied and the CBPR Program considered is UniverCity Romania.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142196695","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 recent years, in order to stimulate economic growth, the importance of innovation and entrepreneurship has been increasingly recognized by practitioners and teaching staff. Universities must contribute to this growth, as a center of knowledge creation and a center of research. However, transforming academic research into marketable products and services faces significant challenges. Addressing these challenges has necessitated the emergence of academic incubators as an essential mechanism for providing resources, support, and an environment suitable for the development of startups. Thus, academic incubators are becoming an essential component of a university in order to recruit and retain students, instructors, and researchers with an entrepreneurial mindset, as well as to stay exposed to students who are becoming more and more interested in starting enterprises or social projects. In these conditions, the present paper aims to provide an overview of the role of academic incubators in stimulating innovation and entrepreneurship in universities, emphasizing their role, functions and impact in the socio-economic environment.
{"title":"Academic Business Incubators as a Tool in Implementing Entrepreneurship Education – Theoretical Approach","authors":"Camelia Budac, Livia Ilie","doi":"10.2478/sbe-2024-0023","DOIUrl":"https://doi.org/10.2478/sbe-2024-0023","url":null,"abstract":"In recent years, in order to stimulate economic growth, the importance of innovation and entrepreneurship has been increasingly recognized by practitioners and teaching staff. Universities must contribute to this growth, as a center of knowledge creation and a center of research. However, transforming academic research into marketable products and services faces significant challenges. Addressing these challenges has necessitated the emergence of academic incubators as an essential mechanism for providing resources, support, and an environment suitable for the development of startups. Thus, academic incubators are becoming an essential component of a university in order to recruit and retain students, instructors, and researchers with an entrepreneurial mindset, as well as to stay exposed to students who are becoming more and more interested in starting enterprises or social projects. In these conditions, the present paper aims to provide an overview of the role of academic incubators in stimulating innovation and entrepreneurship in universities, emphasizing their role, functions and impact in the socio-economic environment.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142196700","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}
Raihani Raihani, Muda Iskandar, Lumbanraja Prihatin, Raza Hendra
This study analyzes the problem factors affecting Micro, Small, and Medium Enterprises (MSMEs) performance with social capital variables. The problems are related to developing MSMEs’ financial and non-financial performance and are considered inseparable from various internal and external influences. This research is a quantitative-qualitative research with primary data. The utilization of questionnaires and interviews as methods for data collection. The data analysis technique used was a statistical analysis based on partial least squares (PLS). The study’s results found that internal and external factors had a significant positive effect on the financial performance of MSMEs. The E-commerce factors and social capital significantly positively affected the financial performance of MSMEs. However, the colonial capital did not strengthen the relationship between internal variables, external, and E-commerce on the financial performance of MSMEs.
{"title":"Determinant Factor Analysis of Financial Performance of Micro, Small and Medium Enterprises with Social Capital as a Moderating Variable During COVID-19 in Aceh, Indonesia","authors":"Raihani Raihani, Muda Iskandar, Lumbanraja Prihatin, Raza Hendra","doi":"10.2478/sbe-2024-0032","DOIUrl":"https://doi.org/10.2478/sbe-2024-0032","url":null,"abstract":"This study analyzes the problem factors affecting Micro, Small, and Medium Enterprises (MSMEs) performance with social capital variables. The problems are related to developing MSMEs’ financial and non-financial performance and are considered inseparable from various internal and external influences. This research is a quantitative-qualitative research with primary data. The utilization of questionnaires and interviews as methods for data collection. The data analysis technique used was a statistical analysis based on partial least squares (PLS). The study’s results found that internal and external factors had a significant positive effect on the financial performance of MSMEs. The E-commerce factors and social capital significantly positively affected the financial performance of MSMEs. However, the colonial capital did not strengthen the relationship between internal variables, external, and E-commerce on the financial performance of MSMEs.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142196702","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 paper analyzes the relationship between GDP and the stock market over the long term, intending to understand the implications for Index Fund investments. A quantitative research method, using US (United States) GDP as an independent variable, and the S&P 500 index as a dependent variable, is employed. A population of 29 years, from 1990 to 2019, of data on US GDP and the S&P 500 from official US sources was used. Linear regression analysis with SPSS calculating techniques is performed to determine whether there is a relationship between GDP growth and the stock market (S&P 500). The results show a significant positive relationship between GDP growth and S&P 500 performance. β coefficient of the regression analysis of 0.911 shows a strong correlation between the GDP and the S&P 500. Our findings are also scientifically validated by the sig (P value) coefficient of 0.0000000000012. In addition, an R Square of 0.830 shows that our model explains all the variability of the response data around the mean at a level of 83%. The positive results of GDP and the stock market relationship, indicate considerable implications for Index Funds investments. Therefore, adding academic value to the practical financial implication aspects.
本文分析了 GDP 与股市之间的长期关系，旨在了解其对指数基金投资的影响。本文采用定量研究方法，以美国 GDP 为自变量，S&P 500 指数为因变量。研究使用了从 1990 年到 2019 年 29 年的美国 GDP 和 S&P 500 指数数据，这些数据来自美国官方来源。利用 SPSS 计算技术进行线性回归分析，以确定 GDP 增长与股票市场（S&P 500）之间是否存在关系。结果表明，GDP 增长与 S&P 500 指数表现之间存在明显的正相关关系。回归分析的 β 系数为 0.911，表明 GDP 与 S&P 500 指数之间具有很强的相关性。我们的研究结果也通过 0.0000000000012 的 sig（P 值）系数得到了科学验证。此外，0.830 的 R Square 表明，我们的模型可以解释均值附近所有响应数据的变化，解释率达到 83%。国内生产总值与股票市场关系的积极结果表明，指数基金投资具有重大意义。因此，在实际财务影响方面增加了学术价值。
{"title":"Decoding the Stock Market and GDP Relationship Over the Long Term: Implications for Index Fund Investments","authors":"Flamur Bunjaku","doi":"10.2478/sbe-2024-0024","DOIUrl":"https://doi.org/10.2478/sbe-2024-0024","url":null,"abstract":"This paper analyzes the relationship between GDP and the stock market over the long term, intending to understand the implications for Index Fund investments. A quantitative research method, using US (United States) GDP as an independent variable, and the S&P 500 index as a dependent variable, is employed. A population of 29 years, from 1990 to 2019, of data on US GDP and the S&P 500 from official US sources was used. Linear regression analysis with SPSS calculating techniques is performed to determine whether there is a relationship between GDP growth and the stock market (S&P 500). The results show a significant positive relationship between GDP growth and S&P 500 performance. β coefficient of the regression analysis of 0.911 shows a strong correlation between the GDP and the S&P 500. Our findings are also scientifically validated by the sig (P value) coefficient of 0.0000000000012. In addition, an R Square of 0.830 shows that our model explains all the variability of the response data around the mean at a level of 83%. The positive results of GDP and the stock market relationship, indicate considerable implications for Index Funds investments. Therefore, adding academic value to the practical financial implication aspects.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142196697","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 purpose of this article is to identify the impact of demonstrative formal rules on the dynamics of the effectiveness of institutional frameworks. The importance of forming an effective institutional framework for any country is undeniable. The presence of an effective institutional framework is a prerequisite for ensuring the successful socio-economic development of the country, on the other hand, an ineffective institutional framework can have a wide range of negative consequences, including disparities in regional development. However, the achievement of today’s effectiveness of institutional frameworks cannot guarantee the proper socio-economic development of the country in the long term, because the institutional framework of any country is not unchanged, but is in a state of constant transformation due to the need to adapt the current formal rules to the new challenges facing society. Accordingly, the identification of the factors that determine the dynamics of the effectiveness of formal rules is no less important than the identification of the factors of ineffectiveness of formal rules. It is shown that one of these factors is demonstrative formal rules, that is, rules whose target effectiveness was not taken into account from the very beginning, and the only purpose of their implementation was to increase the political ratings of the initiators of their implementation. It has been proven that an effective measure to prevent the spread of demonstrative formal rules can be an increase in the general education of the population. The main advantages of the proposed measure are the low level of transaction costs and the absence of danger of manipulating public sentiment.
{"title":"The Influence of Demonstrative Formal Rules on the Dynamics of the Effectiveness of Institutional Frameworks","authors":"Vitaliy Serzhanov, Fedir Abramov, Volodymyr Andryshyn","doi":"10.2478/sbe-2024-0035","DOIUrl":"https://doi.org/10.2478/sbe-2024-0035","url":null,"abstract":"The purpose of this article is to identify the impact of demonstrative formal rules on the dynamics of the effectiveness of institutional frameworks. The importance of forming an effective institutional framework for any country is undeniable. The presence of an effective institutional framework is a prerequisite for ensuring the successful socio-economic development of the country, on the other hand, an ineffective institutional framework can have a wide range of negative consequences, including disparities in regional development. However, the achievement of today’s effectiveness of institutional frameworks cannot guarantee the proper socio-economic development of the country in the long term, because the institutional framework of any country is not unchanged, but is in a state of constant transformation due to the need to adapt the current formal rules to the new challenges facing society. Accordingly, the identification of the factors that determine the dynamics of the effectiveness of formal rules is no less important than the identification of the factors of ineffectiveness of formal rules. It is shown that one of these factors is demonstrative formal rules, that is, rules whose target effectiveness was not taken into account from the very beginning, and the only purpose of their implementation was to increase the political ratings of the initiators of their implementation. It has been proven that an effective measure to prevent the spread of demonstrative formal rules can be an increase in the general education of the population. The main advantages of the proposed measure are the low level of transaction costs and the absence of danger of manipulating public sentiment.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142196701","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}
Although testing the Bowersox and Daugherty (B&D) (1987) typology in international markets have provided valuable insights into the model’s relevance in logistics, literature has not re-examined the B&D model’s effectiveness during the post-pandemic business environments. The current research examines the robustness of the B&D logistics strategy framework during the post-COVID-19 Indian market environment. Using a structured questionnaire, the data for this study (n=372) was collected from the executives whose main job responsibility was related to distribution/logistics decisions in micro and small-sized (MSEs) manufacturers in India. Based on the conceptual relationships identified in the B&D typology, we used structural equation modeling to test the study hypotheses. Results show that overall logistics strategy comprised of three strategic priorities positively influences firms’ competitive responsiveness through the logistics coordination effectiveness and customer service commitment route, supporting the robustness of the model in the post COVID-19 environment. Effective logistics strategy does not occur in isolation. Emphasis in coordination and customer service must occur for a well thought out logistics strategy (process, market, and information orientation) to improve organizational competitive responsiveness in the context of Indian MSEs. This study contributes to the literature by providing empirical support for the validity and the robustness of the B&D logistics strategy model during the post COVID-19 environment in an emerging market.
{"title":"Robustness of the Logistic Strategy Framework in Post-COVID-19 Environment: An Empirical Study of Indian Enterprises","authors":"Ali Kara, John E. Spillan, Shyam S. Prasad","doi":"10.2478/sbe-2024-0029","DOIUrl":"https://doi.org/10.2478/sbe-2024-0029","url":null,"abstract":"Although testing the Bowersox and Daugherty (B&D) (1987) typology in international markets have provided valuable insights into the model’s relevance in logistics, literature has not re-examined the B&D model’s effectiveness during the post-pandemic business environments. The current research examines the robustness of the B&D logistics strategy framework during the post-COVID-19 Indian market environment. Using a structured questionnaire, the data for this study (n=372) was collected from the executives whose main job responsibility was related to distribution/logistics decisions in micro and small-sized (MSEs) manufacturers in India. Based on the conceptual relationships identified in the B&D typology, we used structural equation modeling to test the study hypotheses. Results show that overall logistics strategy comprised of three strategic priorities positively influences firms’ competitive responsiveness through the logistics coordination effectiveness and customer service commitment route, supporting the robustness of the model in the post COVID-19 environment. Effective logistics strategy does not occur in isolation. Emphasis in coordination and customer service must occur for a well thought out logistics strategy (process, market, and information orientation) to improve organizational competitive responsiveness in the context of Indian MSEs. This study contributes to the literature by providing empirical support for the validity and the robustness of the B&D logistics strategy model during the post COVID-19 environment in an emerging market.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142225201","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}
Tetiana Zatonatska, Ganna Kharlamova, Vadym Pakholchuk, Alim Syzov
Transferring to economy 5.0 makes a great emphasis on Artificial Intelligence technologies implementation in civil and military areas. The aim of the article is to model relation between the Ukrainian Ministry of Defense budget programs and strategic goals and tasks. The classical budget analysis methodology is extended with NLP technics. The analysis is performed for defense budget program 2101020 - Ensuring the activities of the Armed Forces of Ukraine, training of personnel and troops, medical support of personnel, military service veterans and their family members, and war veterans. Either TF-IDF or more advanced NLP methods are used along with Python libraries and packages. It is found that some goals intersect with each other by semantic similarity. Despite the lack of data, we build proof of concept machine learning model and proved its effectiveness.
{"title":"Natural Language Processing Methods Application in Defense Budget Analysis","authors":"Tetiana Zatonatska, Ganna Kharlamova, Vadym Pakholchuk, Alim Syzov","doi":"10.2478/sbe-2024-0039","DOIUrl":"https://doi.org/10.2478/sbe-2024-0039","url":null,"abstract":"Transferring to economy 5.0 makes a great emphasis on Artificial Intelligence technologies implementation in civil and military areas. The aim of the article is to model relation between the Ukrainian Ministry of Defense budget programs and strategic goals and tasks. The classical budget analysis methodology is extended with NLP technics. The analysis is performed for defense budget program 2101020 - Ensuring the activities of the Armed Forces of Ukraine, training of personnel and troops, medical support of personnel, military service veterans and their family members, and war veterans. Either TF-IDF or more advanced NLP methods are used along with Python libraries and packages. It is found that some goals intersect with each other by semantic similarity. Despite the lack of data, we build proof of concept machine learning model and proved its effectiveness.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142196699","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}
Cüneyt Kiliç, Ahmet Tayfur Akcan, Özgür Topkaya, Müşerref Arik
Energy plays a vital role in every aspect of the economy and in recent years renewable energy is highly debated for its pros and cons. While renewable energy consumption is important for sustainable growth and reduction of environmental damage it has some negative effects on the industrial production. The aim of the study is to examine the relationship between renewable energy consumption, financial development and industrial output for Turkey. Annual data between 1980 and 2019 were used in the study. Fractional Fourier Augmented Dickey-Fuller Unit Root Test and the Fourier Autoregressive Distributed Lag Bound Tests were used to analyze the relationship between variables. As a result of the study, a positive relationship was found between financial development and renewable energy consumption, while a negative relationship was found between industrial output and renewable energy consumption. Our empirical findings have important policy implications. According to these policy implications, the focus should be on a green-based economy with various subsidies, selective taxation procedures and incentive policies to increase the demand for renewable energy use.
{"title":"Financial Development, Renewable Energy Consumption and Industrial Output Relation: Testing Fourier ARDL for Turkey","authors":"Cüneyt Kiliç, Ahmet Tayfur Akcan, Özgür Topkaya, Müşerref Arik","doi":"10.2478/sbe-2024-0006","DOIUrl":"https://doi.org/10.2478/sbe-2024-0006","url":null,"abstract":"Energy plays a vital role in every aspect of the economy and in recent years renewable energy is highly debated for its pros and cons. While renewable energy consumption is important for sustainable growth and reduction of environmental damage it has some negative effects on the industrial production. The aim of the study is to examine the relationship between renewable energy consumption, financial development and industrial output for Turkey. Annual data between 1980 and 2019 were used in the study. Fractional Fourier Augmented Dickey-Fuller Unit Root Test and the Fourier Autoregressive Distributed Lag Bound Tests were used to analyze the relationship between variables. As a result of the study, a positive relationship was found between financial development and renewable energy consumption, while a negative relationship was found between industrial output and renewable energy consumption. Our empirical findings have important policy implications. According to these policy implications, the focus should be on a green-based economy with various subsidies, selective taxation procedures and incentive policies to increase the demand for renewable energy use.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141150571","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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