A problem of skill mismatch has long been a global issue. The same is true for an emerging market like Cambodia where a large number of youths enter the job market every year. This study aims to investigate the most important employability skills in post pandemic viewed by students, employees and employers. The study also explores the needed skills at private, public and non-profit sectors, and the preparation of students on those competencies for making a comparison and synthesis. To fulfil the earlier objectives, the study applies survey questionnaires and in-depth interviews with 109 participants and 6 interviewees respectively. The findings demonstrate that Being professionally ethical, Being committed to work, and Technology Use are the three main employability skills demanded in the market. However, specific institutions may prefer other skills according to the nature of their work. The study also demonstrates that students possess a few limitations, namely Adaptability to change, Communication, Commitment to work and Advanced digital skills. These weaknesses would be a key message to students and other stakeholders to reconceptualize their current practice to fulfil the gaps.
{"title":"An Empirical Study on the Needed Employability Skills in Post-Pandemic","authors":"Raksmey Chan","doi":"10.2478/sbe-2023-0047","DOIUrl":"https://doi.org/10.2478/sbe-2023-0047","url":null,"abstract":"A problem of skill mismatch has long been a global issue. The same is true for an emerging market like Cambodia where a large number of youths enter the job market every year. This study aims to investigate the most important employability skills in post pandemic viewed by students, employees and employers. The study also explores the needed skills at private, public and non-profit sectors, and the preparation of students on those competencies for making a comparison and synthesis. To fulfil the earlier objectives, the study applies survey questionnaires and in-depth interviews with 109 participants and 6 interviewees respectively. The findings demonstrate that Being professionally ethical, Being committed to work, and Technology Use are the three main employability skills demanded in the market. However, specific institutions may prefer other skills according to the nature of their work. The study also demonstrates that students possess a few limitations, namely Adaptability to change, Communication, Commitment to work and Advanced digital skills. These weaknesses would be a key message to students and other stakeholders to reconceptualize their current practice to fulfil the gaps.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139462716","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}
Nowdays investors and other stakeholders increasingly consider ESG factors when making investment decisions. They were supported by numerous rating agencies that developed a large number of indices and reporting standards to facilitate the choice of the most sustainable companies from an ESG perspective. When the relationship between financial performance and sustainability was analyzed, the researchers did not reach an unanimously accepted conclusion: many studies show a positive relationship, while others show a negative one. In many studies, the relationship between ESG performance and financial performance, assessed through profitability rates was privileged. The aim of this study is to investigate if there is a relationship between ESG performance and the liquidity rates of the listed companies from emerging financial markets in European Union. The emerging markets in European Union were selected due to their attractiveness, as they offer high earning possibilities to investors. At the same time, aspects regarding the mandatory of non-financial sustainability reporting, starting from 2023, were taken into account. This will increase the comparability and homogeneity of ESG scores, but will also generate additional reporting costs, putting suplimentary pressure on companies.
{"title":"Analysis of the Links Between ESG Performance and Liquidity Rates for the Companies Listed on the Emerging Markets in the European Union","authors":"Diana Elena Vasiu","doi":"10.2478/sbe-2023-0061","DOIUrl":"https://doi.org/10.2478/sbe-2023-0061","url":null,"abstract":"Nowdays investors and other stakeholders increasingly consider ESG factors when making investment decisions. They were supported by numerous rating agencies that developed a large number of indices and reporting standards to facilitate the choice of the most sustainable companies from an ESG perspective. When the relationship between financial performance and sustainability was analyzed, the researchers did not reach an unanimously accepted conclusion: many studies show a positive relationship, while others show a negative one. In many studies, the relationship between ESG performance and financial performance, assessed through profitability rates was privileged. The aim of this study is to investigate if there is a relationship between ESG performance and the liquidity rates of the listed companies from emerging financial markets in European Union. The emerging markets in European Union were selected due to their attractiveness, as they offer high earning possibilities to investors. At the same time, aspects regarding the mandatory of non-financial sustainability reporting, starting from 2023, were taken into account. This will increase the comparability and homogeneity of ESG scores, but will also generate additional reporting costs, putting suplimentary pressure on companies.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139462765","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}
Idris Ahmad, Rahmawati Alni, Surwanti Arni, Hanafi Mamduh M.
The study of financial literacy and sustainability has attracted much interest recently and is expanding quickly. This paper offers a trustworthly, consistent, and current financial literacy and sustainability analysis following bibliometric analysis and systematic literature review. Concerning 127 documents published between 2008 and October 2022, we specifically examined the co-occurrence of author keywords, co-citation analysis of cited references, and subsequent in-depth analysis. Results show that the following topics have received the most attention in analyzing financial literacy and sustainability research: (1) financial inclusion; (2) financial behaviour; (3) financial systems; and (4) decision-making. The trick-down growth and development theory, the consumption function theory, the resource-based view theory, and the theory of entrepreneurship are the theoretical pillars supporting this study’s structure. Next, we create an integrative framework as the foundation for additional research. As a result, this review provides a thorough overview of financial literacy and sustainability research.
{"title":"Financial Literacy to Improve Sustainability: A Bibliometric Analysis","authors":"Idris Ahmad, Rahmawati Alni, Surwanti Arni, Hanafi Mamduh M.","doi":"10.2478/sbe-2023-0043","DOIUrl":"https://doi.org/10.2478/sbe-2023-0043","url":null,"abstract":"The study of financial literacy and sustainability has attracted much interest recently and is expanding quickly. This paper offers a trustworthly, consistent, and current financial literacy and sustainability analysis following bibliometric analysis and systematic literature review. Concerning 127 documents published between 2008 and October 2022, we specifically examined the co-occurrence of author keywords, co-citation analysis of cited references, and subsequent in-depth analysis. Results show that the following topics have received the most attention in analyzing financial literacy and sustainability research: (1) financial inclusion; (2) financial behaviour; (3) financial systems; and (4) decision-making. The trick-down growth and development theory, the consumption function theory, the resource-based view theory, and the theory of entrepreneurship are the theoretical pillars supporting this study’s structure. Next, we create an integrative framework as the foundation for additional research. As a result, this review provides a thorough overview of financial literacy and sustainability research.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139462821","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 preservation and promotion of cultural heritage has been a major focus of European and international policy makers and researchers. Access to it is transformational (europeana.eu), which is why new technologies seem to be a good opportunity in doing so, especially in education. The young generation (Gen Z) is one of digital natives, as a result of their early exposure to the Internet and electronic gadgets. Thus, they usually expect more engaging experiences. At the same time, games have a powerful role in improving key skills and competencies required for success in education and professional life (Pellegrino, Hilton, 2012). Thus, this paper reviews available literature, exploring opportunities for cultural heritage sites through digital storytelling and gamification. A detailed bibliometric analysis provides insights about the progression of scientific papers related to cultural heritage and new technologies. Data was extracted from Scopus and mapped with VOSviewer visualization tool. Literature on Generation Z perception on cultural heritage is scarce. Even research on perception on cultural heritage of different generations is limited, with papers published in the last 2-3 years.
保护和弘扬文化遗产一直是欧洲和国际决策者及研究人员关注的重点。获取文化遗产具有变革性（europeana.eu），因此新技术似乎是这样做的良机，尤其是在教育领域。年轻一代（Z 世代）是数字原住民，因为他们很早就接触到互联网和电子产品。因此，他们通常期待更多的参与体验。同时，游戏在提高教育和职业生活成功所需的关键技能和能力方面具有强大的作用（Pellegrino, Hilton, 2012）。因此，本文回顾了现有文献，探讨了通过数字故事和游戏化为文化遗产地带来的机遇。通过详细的文献计量分析，我们可以深入了解与文化遗产和新技术相关的科学论文的进展情况。数据从 Scopus 中提取，并通过 VOSviewer 可视化工具进行映射。有关 Z 世代对文化遗产认知的文献很少。即使是关于不同世代对文化遗产认知的研究也很有限，仅有最近两三年发表的论文。
{"title":"Cultural Heritage and New Technologies: Exploring Opportunities for Cultural Heritage Sites from Gen Z’s Perspective","authors":"Alma Pentescu","doi":"10.2478/sbe-2023-0056","DOIUrl":"https://doi.org/10.2478/sbe-2023-0056","url":null,"abstract":"The preservation and promotion of cultural heritage has been a major focus of European and international policy makers and researchers. Access to it is transformational (europeana.eu), which is why new technologies seem to be a good opportunity in doing so, especially in education. The young generation (Gen Z) is one of digital natives, as a result of their early exposure to the Internet and electronic gadgets. Thus, they usually expect more engaging experiences. At the same time, games have a powerful role in improving key skills and competencies required for success in education and professional life (Pellegrino, Hilton, 2012). Thus, this paper reviews available literature, exploring opportunities for cultural heritage sites through digital storytelling and gamification. A detailed bibliometric analysis provides insights about the progression of scientific papers related to cultural heritage and new technologies. Data was extracted from Scopus and mapped with VOSviewer visualization tool. Literature on Generation Z perception on cultural heritage is scarce. Even research on perception on cultural heritage of different generations is limited, with papers published in the last 2-3 years.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139462621","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}
Camelia-Cristina Dragomir, Alexandra Zamfirache, Ruxandra-Gabriela Albu, Tiberiu Foris
This paper aims to conduct an in-depth analysis of how recent crises have been experienced by Romanian start-ups from the perspective of their managers, through quantitative research. The authors also aimed to investigate the interest of entrepreneurs in sustainably developing their businesses and the actions they aim to take in this direction. Data were collected from a sample of 216 respondents, managers of start-ups operating in the Center and South-West Oltenia Regions. The results indicate that the COVID-19 health crisis and the international financial crisis, followed by the energy crisis, have had the greatest impact on the activity of start-ups and identify response measures that can be solutions to increase their resilience in times of crisis. The research can help managers of start-ups maintain business stability in complicated times and incorporate sustainability practices into their business strategy. Governmental, regional and local authorities, as well as entrepreneurship education providers, can also use the research results to initiate measures to support start-ups in their efforts to cope with current challenges and develop sustainably.
{"title":"Implications of Crises on Start-Up Management and Ways to Increase Business Resilience and Sustainable Development","authors":"Camelia-Cristina Dragomir, Alexandra Zamfirache, Ruxandra-Gabriela Albu, Tiberiu Foris","doi":"10.2478/sbe-2023-0049","DOIUrl":"https://doi.org/10.2478/sbe-2023-0049","url":null,"abstract":"This paper aims to conduct an in-depth analysis of how recent crises have been experienced by Romanian start-ups from the perspective of their managers, through quantitative research. The authors also aimed to investigate the interest of entrepreneurs in sustainably developing their businesses and the actions they aim to take in this direction. Data were collected from a sample of 216 respondents, managers of start-ups operating in the Center and South-West Oltenia Regions. The results indicate that the COVID-19 health crisis and the international financial crisis, followed by the energy crisis, have had the greatest impact on the activity of start-ups and identify response measures that can be solutions to increase their resilience in times of crisis. The research can help managers of start-ups maintain business stability in complicated times and incorporate sustainability practices into their business strategy. Governmental, regional and local authorities, as well as entrepreneurship education providers, can also use the research results to initiate measures to support start-ups in their efforts to cope with current challenges and develop sustainably.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139462622","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}
Olajide Raji Jimoh, Muhammad Adeel-Farooq Rana, Toyin Oyewole Tajudeen
This paper employs various GARCH-type models and the daily data from 3 July 2006 to 30 June 2021 to examine the effect of crude oil prices and stock price index on exchange rates for Indonesia, the largest oil producer in Southeast Asia. Since the share markets and oil prices are very volatile, testing the stability of the parameters or system is desirable. We achieve this by using the Nyblom’s fluctuations test and account for the structural break associated with the fluctuations. Findings reveal that lower oil price return leads the Indonesian currency per US dollar to depreciate. In addition, we find that stock return has negative and significant relation with exchange rates. This lends support to the portfolio balance effect in which a decrease in stock prices leads to a depreciation of Indonesian Rupiah against the US dollar. Evidence from EGARCH model shows that shocks to the volatility of exchange rate have a symmetrical effect. Our results suggest that as lower oil prices and stock prices contributes to depreciation of Indonesia rupiah against USD, an appropriate monetary policy may require adjustment of interest rates to resist the exchange rate fluctuations without being detrimental to the banking system.
{"title":"Modelling the Impact of Crude Oil Prices and Stock Price Index on Indonesia’s Exchange Rates","authors":"Olajide Raji Jimoh, Muhammad Adeel-Farooq Rana, Toyin Oyewole Tajudeen","doi":"10.2478/sbe-2023-0057","DOIUrl":"https://doi.org/10.2478/sbe-2023-0057","url":null,"abstract":"This paper employs various GARCH-type models and the daily data from 3 July 2006 to 30 June 2021 to examine the effect of crude oil prices and stock price index on exchange rates for Indonesia, the largest oil producer in Southeast Asia. Since the share markets and oil prices are very volatile, testing the stability of the parameters or system is desirable. We achieve this by using the Nyblom’s fluctuations test and account for the structural break associated with the fluctuations. Findings reveal that lower oil price return leads the Indonesian currency per US dollar to depreciate. In addition, we find that stock return has negative and significant relation with exchange rates. This lends support to the portfolio balance effect in which a decrease in stock prices leads to a depreciation of Indonesian Rupiah against the US dollar. Evidence from EGARCH model shows that shocks to the volatility of exchange rate have a symmetrical effect. Our results suggest that as lower oil prices and stock prices contributes to depreciation of Indonesia rupiah against USD, an appropriate monetary policy may require adjustment of interest rates to resist the exchange rate fluctuations without being detrimental to the banking system.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139462673","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 develop a recent overlook of African firms’ internationalization and its importance in consideration of the growing interest of multinational stakeholders. We analysed 26 most-cited journal articles, i.e., based on the number of citations, in the last decade, indexed in the Web of Science database, i.e., from 2011 to 2021. The previously published studies revealed that the internationalization of African firms is a fast-growing stream of the broader topic of international entrepreneurship. Our review also summarized two main research areas identified in the studied literature. The first focuses on selected features of African firms’ internationalization process. The second part underpins factors influencing their internationalization. The provided structured knowledge from the most cited articles serves as a tool to improve stakeholders’ understanding of international entrepreneurship in Africa. The study also proposes future research directions in international business and entrepreneurship in Africa. The article contributes to international entrepreneurship research in Africa by enumerating those aspects that shape the internationalization path of these global firms.
{"title":"African Firms Internationalization: What Can We Learn from the Most Cited Articles Published in the Last Decade?","authors":"Sob Tchanga Paul, Ondřej Dvouletý","doi":"10.2478/sbe-2023-0059","DOIUrl":"https://doi.org/10.2478/sbe-2023-0059","url":null,"abstract":"This article aims to develop a recent overlook of African firms’ internationalization and its importance in consideration of the growing interest of multinational stakeholders. We analysed 26 most-cited journal articles, i.e., based on the number of citations, in the last decade, indexed in the Web of Science database, i.e., from 2011 to 2021. The previously published studies revealed that the internationalization of African firms is a fast-growing stream of the broader topic of international entrepreneurship. Our review also summarized two main research areas identified in the studied literature. The first focuses on selected features of African firms’ internationalization process. The second part underpins factors influencing their internationalization. The provided structured knowledge from the most cited articles serves as a tool to improve stakeholders’ understanding of international entrepreneurship in Africa. The study also proposes future research directions in international business and entrepreneurship in Africa. The article contributes to international entrepreneurship research in Africa by enumerating those aspects that shape the internationalization path of these global firms.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139462756","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 fast-paced development and evolution of the marketing concept in the last decade has generated the need to delve into the past to understand the future. Therefore, the current paper aims to bring forth a better understanding of the evolution of the concept of marketing thought, while doing a bibliometric analysis on the papers that mention the term “marketing thought” in their title and / or abstract. The findings of the literature review as well as the results of the analysis are representing a starting point in the process of continuing the research undertaken by authors in the 20th century and, thus providing a starting point in the development of new marketing theories on the evolution of the marketing thought in a time governed by the internet, social media, artificial intelligence, or online consumer behaviour.
{"title":"How the Marketing Thought Evolved – A Brief Analysis of Marketing Literature","authors":"Mircea Fuciu","doi":"10.2478/sbe-2023-0050","DOIUrl":"https://doi.org/10.2478/sbe-2023-0050","url":null,"abstract":"The fast-paced development and evolution of the marketing concept in the last decade has generated the need to delve into the past to understand the future. Therefore, the current paper aims to bring forth a better understanding of the evolution of the concept of marketing thought, while doing a bibliometric analysis on the papers that mention the term “marketing thought” in their title and / or abstract. The findings of the literature review as well as the results of the analysis are representing a starting point in the process of continuing the research undertaken by authors in the 20<jats:sup>th</jats:sup> century and, thus providing a starting point in the development of new marketing theories on the evolution of the marketing thought in a time governed by the internet, social media, artificial intelligence, or online consumer behaviour.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139462926","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 is devoted to the cognitive biases of decoy pricing, which has become the subject of interest of retail companies in recent years. The paper analyses the principles of the decoy effect with regard to consumer behaviour in the Czech Republic (which represents customers of the Eastern Europe). The analytical part of the paper focuses on examination of often irrational consumer decision-making process, with respect to age, gender, product group, and other factors. A combination of questionnaire survey (N=200) and interviews (N=32) was used. The results indicate a significant influence of the generation the consumer belongs to, further differences in decision-making according to gender, as well as differences in effects in various product categories. The findings may be utilised by companies considering the use of decoy pricing strategies in the Czech market.
{"title":"How Does Decoy Pricing Affect Purchasing Decisions?","authors":"Lea Kubíčková, Lucie Veselá, Marcela Kormaňáková, Ekaterina Veverková","doi":"10.2478/sbe-2023-0053","DOIUrl":"https://doi.org/10.2478/sbe-2023-0053","url":null,"abstract":"This paper is devoted to the cognitive biases of decoy pricing, which has become the subject of interest of retail companies in recent years. The paper analyses the principles of the decoy effect with regard to consumer behaviour in the Czech Republic (which represents customers of the Eastern Europe). The analytical part of the paper focuses on examination of often irrational consumer decision-making process, with respect to age, gender, product group, and other factors. A combination of questionnaire survey (N=200) and interviews (N=32) was used. The results indicate a significant influence of the generation the consumer belongs to, further differences in decision-making according to gender, as well as differences in effects in various product categories. The findings may be utilised by companies considering the use of decoy pricing strategies in the Czech market.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139462620","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}
Andrei Ungureanu, Lucian Belaşcu, Alexandra Horobeț, Marius Croitoru Ionuț
Programmatic advertising rose in the early 2000s, aiming at streamlining the online media buying process. It offered marketers the means to buy millions of advertising impressions instantly and helped publishers increase their revenues. The deployment of automated algorithms for media trading led to a significant decrease in campaign setup and management costs and created a new revenue stream for online publishers. However, by the late 2010s, the emergence of ever more complex algorithms and the opaque practices of the Advertising Technology (AdTech) companies in charge of them have led to complaints that programmatic advertising functions largely as a “black box”. This article inquires into the programmatic media trading process, with a focus on the impact of the algorithms’ increased sophistication on the monetization strategies of online publishers. We analyze the case of Libertatea.ro, a leading Romanian newspaper, in its attempt to offset the decrease of revenue from printed circulation by increasing revenues generated through its online website. The findings show that publishers are forced to apply increasingly complex website monetization strategies. This can, in turn, lead to a loss of control over their advertising inventory and decreased bargaining power when facing AdTech companies, thus threatening the economic models of online publishing.
{"title":"Programmatic Advertising and Online Publishers: The Case of Libertatea.Ro","authors":"Andrei Ungureanu, Lucian Belaşcu, Alexandra Horobeț, Marius Croitoru Ionuț","doi":"10.2478/sbe-2023-0060","DOIUrl":"https://doi.org/10.2478/sbe-2023-0060","url":null,"abstract":"Programmatic advertising rose in the early 2000s, aiming at streamlining the online media buying process. It offered marketers the means to buy millions of advertising impressions instantly and helped publishers increase their revenues. The deployment of automated algorithms for media trading led to a significant decrease in campaign setup and management costs and created a new revenue stream for online publishers. However, by the late 2010s, the emergence of ever more complex algorithms and the opaque practices of the Advertising Technology (AdTech) companies in charge of them have led to complaints that programmatic advertising functions largely as a “black box”. This article inquires into the programmatic media trading process, with a focus on the impact of the algorithms’ increased sophistication on the monetization strategies of online publishers. We analyze the case of Libertatea.ro, a leading Romanian newspaper, in its attempt to offset the decrease of revenue from printed circulation by increasing revenues generated through its online website. The findings show that publishers are forced to apply increasingly complex website monetization strategies. This can, in turn, lead to a loss of control over their advertising inventory and decreased bargaining power when facing AdTech companies, thus threatening the economic models of online publishing.","PeriodicalId":43310,"journal":{"name":"Studies in Business and Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139462719","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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