Pub Date : 2022-12-01DOI: 10.15240/tul/001/2022-4-001
Vyrostková Lenka, Mirdala Rajmund
Persistence is one of the main characteristics of inflation. One of the definitions of persistent inflation is, that it is the rate at which inflation reaches equilibrium after a certain macroeconomic shock. If the inflation persistence is high, the response to inflation shocks is long-lasting and difficult for the central bank to control. Conversely, if the country’s inflation persistence is low, the central bank can keep the inflation rate in line with the inflation target. The recent economic crisis made central banks adopt several unconventional monetary policy instruments to boost economic recovery and preserve price stability. Many authors note that data on stationary inflation in the euro area countries is a precondition for joining the European Union. As far as the functioning of the European Union is concerned, it is desirable to take the necessary decisions. The primary objective of the paper is to test the inflation rate data in the euro area countries to verify the existence of a unit root considering that central banks design their monetary policy frameworks under the assumption that inflation is a stationary process. The verification of the stationarity of the inflation data is divided into two sections. In the first section, the monthly data panel of the Harmonised Index of Consumer Prices (HICP) for euro-zone countries is used. The second section uses a panel of monthly data the Harmonised Index of Consumer Prices for each category of Classification of Individual Consumption by Purpose for euro area countries. Our results indicate that time series for inflation in 11 of 19 euro area member countries are non-stationary and have a unit root. Considering our results we propose the creation of a two-speed euro area and the adjustment of the monetary policy framework in the euro area countries.
{"title":"NFLATION PERSISTENCE AND UNIT ROOT TESTS IN THE EURO AREA COUNTRIES","authors":"Vyrostková Lenka, Mirdala Rajmund","doi":"10.15240/tul/001/2022-4-001","DOIUrl":"https://doi.org/10.15240/tul/001/2022-4-001","url":null,"abstract":"Persistence is one of the main characteristics of inflation. One of the definitions of persistent inflation is, that it is the rate at which inflation reaches equilibrium after a certain macroeconomic shock. If the inflation persistence is high, the response to inflation shocks is long-lasting and difficult for the central bank to control. Conversely, if the country’s inflation persistence is low, the central bank can keep the inflation rate in line with the inflation target. The recent economic crisis made central banks adopt several unconventional monetary policy instruments to boost economic recovery and preserve price stability. Many authors note that data on stationary inflation in the euro area countries is a precondition for joining the European Union. As far as the functioning of the European Union is concerned, it is desirable to take the necessary decisions. The primary objective of the paper is to test the inflation rate data in the euro area countries to verify the existence of a unit root considering that central banks design their monetary policy frameworks under the assumption that inflation is a stationary process. The verification of the stationarity of the inflation data is divided into two sections. In the first section, the monthly data panel of the Harmonised Index of Consumer Prices (HICP) for euro-zone countries is used. The second section uses a panel of monthly data the Harmonised Index of Consumer Prices for each category of Classification of Individual Consumption by Purpose for euro area countries. Our results indicate that time series for inflation in 11 of 19 euro area member countries are non-stationary and have a unit root. Considering our results we propose the creation of a two-speed euro area and the adjustment of the monetary policy framework in the euro area countries.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"22 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78484787","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.15240/tul/001/2022-4-011
Anna Vallušová, Ivana Kuráková, Žaneta Lacová
The V4 countries have achieved different levels of digital transformation due to distinctions in their individual technical infrastructure and human capital characteristics. The success of digital transformation cannot be measured solely by the achieved level of digitalization; the distribution of favorable outcomes of internet use within a country should also be considered. The level of digital skills and usage patterns differ among social groups, therefore capability to translate internet access and use to tangible (offline) benefits varies. The aim of our paper is twofold. Firstly, we quantify the extent of the digital inequality in terms of usage gap in the V4 countries. We indicate the dynamics of inequality by comparing the development of such inequality between the years 2015 and 2019. Secondly, we identify socioeconomic and sociodemographic factors, which are connected to differences in internet usage patterns and therefore affect the capability of an individual to benefit from internet use. In common with other studies carried out in the Western world, we show that internet access and possession of formal digital skills are not the most important determinant of probability of being a digital beneficiary; individual characteristics, especially education and age, predict the probability of being a digital beneficiary to a higher degree of accuracy. As to the extent of digital inequality in the individual countries, we come to conclusion that although the V4 countries are relatively homogeneous concerning socioeconomic inequalities, the level of digital inequality among them differs – Hungary being somewhat unequal as co
{"title":"DIGITAL INEQUALITY AND USAGE GAP IN THE V4 REGION","authors":"Anna Vallušová, Ivana Kuráková, Žaneta Lacová","doi":"10.15240/tul/001/2022-4-011","DOIUrl":"https://doi.org/10.15240/tul/001/2022-4-011","url":null,"abstract":"The V4 countries have achieved different levels of digital transformation due to distinctions in their individual technical infrastructure and human capital characteristics. The success of digital transformation cannot be measured solely by the achieved level of digitalization; the distribution of favorable outcomes of internet use within a country should also be considered. The level of digital skills and usage patterns differ among social groups, therefore capability to translate internet access and use to tangible (offline) benefits varies. The aim of our paper is twofold. Firstly, we quantify the extent of the digital inequality in terms of usage gap in the V4 countries. We indicate the dynamics of inequality by comparing the development of such inequality between the years 2015 and 2019. Secondly, we identify socioeconomic and sociodemographic factors, which are connected to differences in internet usage patterns and therefore affect the capability of an individual to benefit from internet use. In common with other studies carried out in the Western world, we show that internet access and possession of formal digital skills are not the most important determinant of probability of being a digital beneficiary; individual characteristics, especially education and age, predict the probability of being a digital beneficiary to a higher degree of accuracy. As to the extent of digital inequality in the individual countries, we come to conclusion that although the V4 countries are relatively homogeneous concerning socioeconomic inequalities, the level of digital inequality among them differs – Hungary being somewhat unequal as co","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"22 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76411620","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.15240/tul/001/2022-4-008
A. Phan, H. Nguyen, H. Nguyen, Y. Matsui
Along with information technology adoption, supply chain coordination through information sharing activities has become essential to achieve supply chain effectiveness and resilience. This paper presents the results of an empirical study investigating the moderating roles of information technology link and information sharing on the relationship between supplier development, knowledge absorption from customers, and supply chain performance. Statistical techniques such as measurement test, correlation analysis, and regression analysis are applied to analyze the data collected during the Round 4 of the High Performance Manufacturing (HPM) Project. The data sample includes 304 manufacturing plants operating in 13 countries including Brazil, China, Finland, German, Italy, Israel, Japan, Korea, Spain, Sweden, Taiwan, United Kingdom, and Vietnam. Analytical results indicate that a supply chain would perform better when focal firms invest their effort in supplier development and knowledge absorption activities and develop a strong link with suppliers and customers through information technology systems. Information technology links with suppliers and customers have significant moderating roles in strengthening the relationship between supplier development, knowledge absorption from customers, and supply chain performance. Moreover, information sharing exchange with suppliers were found to make the association between supplier development and supply chain performance becomes more pronounced. The empirical results contribute to the existing literature of information sharing and supply chain coordination in supply chain management. In addition, this study provides several practical implications, such that information technology linkage and information sharing activities should be considered as the platforms for organizations to interact with different supply chain partners for achieving high supply chain performance.
{"title":"MODERATING ROLES OF INFORMATION TECHNOLOGY LINK AND INFORMATION SHARING IN DRIVING SUPPLY CHAIN PERFORMANCE THROUGH SUPPLIER DEVELOPMENT AND KNOWLEDGE ABSORPTION: EMPIRICAL EVIDENCE FROM MANUFACTURING FIRMS ACROSS COUNTRIES","authors":"A. Phan, H. Nguyen, H. Nguyen, Y. Matsui","doi":"10.15240/tul/001/2022-4-008","DOIUrl":"https://doi.org/10.15240/tul/001/2022-4-008","url":null,"abstract":"Along with information technology adoption, supply chain coordination through information sharing activities has become essential to achieve supply chain effectiveness and resilience. This paper presents the results of an empirical study investigating the moderating roles of information technology link and information sharing on the relationship between supplier development, knowledge absorption from customers, and supply chain performance. Statistical techniques such as measurement test, correlation analysis, and regression analysis are applied to analyze the data collected during the Round 4 of the High Performance Manufacturing (HPM) Project. The data sample includes 304 manufacturing plants operating in 13 countries including Brazil, China, Finland, German, Italy, Israel, Japan, Korea, Spain, Sweden, Taiwan, United Kingdom, and Vietnam. Analytical results indicate that a supply chain would perform better when focal firms invest their effort in supplier development and knowledge absorption activities and develop a strong link with suppliers and customers through information technology systems. Information technology links with suppliers and customers have significant moderating roles in strengthening the relationship between supplier development, knowledge absorption from customers, and supply chain performance. Moreover, information sharing exchange with suppliers were found to make the association between supplier development and supply chain performance becomes more pronounced. The empirical results contribute to the existing literature of information sharing and supply chain coordination in supply chain management. In addition, this study provides several practical implications, such that information technology linkage and information sharing activities should be considered as the platforms for organizations to interact with different supply chain partners for achieving high supply chain performance.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"49 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73873846","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.15240/tul/001/2022-4-004
Burak Erkut
Hyman P. Minsky and Michael E. Porter have developed theories of economic development independently from each other, both being influenced by Joseph A. Schumpeter in different ways. In this contribution, the author focuses on understanding the similarities and differences between these two approaches based on their epistemological, ontological and ethical-political perspectives, also by identifying how they are related to each other in a particular type of economic development named as ‘money-manager capitalism’ in Minsky’s framework and ‘wealth-driven competitive stage’ in Porter’s. The approach starts by describing the Porterian and Minskyan perspectives, moves on to analyzing them from their epistemological, ontological and ethical-political perspectives, and it also questions how these two phenomena are related by pointing out to the common Schumpeterian perspectives as well as fundamental differences between the two. The contribution concludes by stating that even though differences are present, both approaches are Schumpeterian in their own way – and describe a similar end to competitive development, one that is based on managing accumulated wealth. This is related to two distinctive areas in economics and administrative sciences: Firstly, it shows how the two scholars’ ideas are related with a possible source of influence, contributing to history of economic thought. Secondly, it shows the fate of economies once they innovate and become innovation driven; over time, income generated from innovation becomes a source of concern, and influences the risk-taking behavior of the economic system for the sake of protecting the income. In this way, the approach contributes to countries’ competitive positions and how two important scholars of economics and administrative sciences observe the start of the decline.
{"title":"MINSKY MEETS PORTER","authors":"Burak Erkut","doi":"10.15240/tul/001/2022-4-004","DOIUrl":"https://doi.org/10.15240/tul/001/2022-4-004","url":null,"abstract":"Hyman P. Minsky and Michael E. Porter have developed theories of economic development independently from each other, both being influenced by Joseph A. Schumpeter in different ways. In this contribution, the author focuses on understanding the similarities and differences between these two approaches based on their epistemological, ontological and ethical-political perspectives, also by identifying how they are related to each other in a particular type of economic development named as ‘money-manager capitalism’ in Minsky’s framework and ‘wealth-driven competitive stage’ in Porter’s. The approach starts by describing the Porterian and Minskyan perspectives, moves on to analyzing them from their epistemological, ontological and ethical-political perspectives, and it also questions how these two phenomena are related by pointing out to the common Schumpeterian perspectives as well as fundamental differences between the two. The contribution concludes by stating that even though differences are present, both approaches are Schumpeterian in their own way – and describe a similar end to competitive development, one that is based on managing accumulated wealth. This is related to two distinctive areas in economics and administrative sciences: Firstly, it shows how the two scholars’ ideas are related with a possible source of influence, contributing to history of economic thought. Secondly, it shows the fate of economies once they innovate and become innovation driven; over time, income generated from innovation becomes a source of concern, and influences the risk-taking behavior of the economic system for the sake of protecting the income. In this way, the approach contributes to countries’ competitive positions and how two important scholars of economics and administrative sciences observe the start of the decline.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"33 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88434207","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.15240/tul/001/2022-4-010
V. Dincă, A. Dima
The COVID-19 pandemic and the subsequent lockdown, along with the social distancing rules imposed by governments around the world, have caused major changes in the publishing industry and, therefore, in the book consumption patterns. The main goal of this paper is to identify the changes in the purchasing habits of book consumers within two different frameworks of motivations: utilitarian and hedonic – both studied during the COVID-19 pandemic. A model was developed to study the effects of the COVID-19 pandemic as a circumstantial impact, because it implicated the temporary shutdown of physical bookshops, the uncertainty of contracting the virus by visiting the shops once they re-opened along with the upgrades that online bookshops developed during the pandemic to attract customers. Data were gathered from 410 Romanian consumers by applying an online survey. Multivariate data analysis applied to the model showed that the COVID-19 pandemic context had a positive and significant influence on the customers’ intents of online book purchasing. Moreover, while hedonic reasons exerted a compelling influence on the customers’ intents to buy books online, the association between utilitarian reasons and online buying intents is positive, but insignificant. These results could support all stakeholders within the book market, such as publishing firms and online bookshops to strengthen their online presence – to develop their websites, their social media pages, as well as expand their advertising operations through different channels. The outcomes of this research are important and useful also for the academic environment, as the changes within the book market and the evolution of book consumption behavior influence research and academic writing overall.
{"title":"THE IMPACT OF THE COVID-19 PANDEMIC ON ONLINE CONSUMER BEHAVIOR FOR THE BOOK MARKET IN ROMANIA","authors":"V. Dincă, A. Dima","doi":"10.15240/tul/001/2022-4-010","DOIUrl":"https://doi.org/10.15240/tul/001/2022-4-010","url":null,"abstract":"The COVID-19 pandemic and the subsequent lockdown, along with the social distancing rules imposed by governments around the world, have caused major changes in the publishing industry and, therefore, in the book consumption patterns. The main goal of this paper is to identify the changes in the purchasing habits of book consumers within two different frameworks of motivations: utilitarian and hedonic – both studied during the COVID-19 pandemic. A model was developed to study the effects of the COVID-19 pandemic as a circumstantial impact, because it implicated the temporary shutdown of physical bookshops, the uncertainty of contracting the virus by visiting the shops once they re-opened along with the upgrades that online bookshops developed during the pandemic to attract customers. Data were gathered from 410 Romanian consumers by applying an online survey. Multivariate data analysis applied to the model showed that the COVID-19 pandemic context had a positive and significant influence on the customers’ intents of online book purchasing. Moreover, while hedonic reasons exerted a compelling influence on the customers’ intents to buy books online, the association between utilitarian reasons and online buying intents is positive, but insignificant. These results could support all stakeholders within the book market, such as publishing firms and online bookshops to strengthen their online presence – to develop their websites, their social media pages, as well as expand their advertising operations through different channels. The outcomes of this research are important and useful also for the academic environment, as the changes within the book market and the evolution of book consumption behavior influence research and academic writing overall.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"10 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90716124","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.15240/tul/001/2022-4-012
Francisco Gatica-Neira, Mario Ramos-Maldonado
In the context of the Fourth Industrial Revolution this paper analyzes the factors that explain the degree of diffusion of some Information Technologies (ICTs) enabling Industries 4.0 in Chilean companies. In this group we find technologies such as: Big data, RIFD (Radio frequency identification), Cloud computing, ERP (Enterprise requirements planning), CRM (Customer relationship management), SCM (Supply chain management) and Computer security. Through the analysis of clusters, orderly logistic regression and decision tree, based on 2,081 companies reported in the Survey of Access and Use of Information Communication Technology (ICT) in Companies 2018 (MINECON, 2020). It is concluded that there is an important difference in technological adoption based on size from the volume of sales and the amount of direct labor. It is also noted that companies that subcontract and at the same time have ICT professionals are more likely to invest in this type of technology. We detected a “technological staggering” where companies begin by incorporating Cloud Computing and ERP and then increase in the number and complexity of the technologies used, achieving greater synergies and benefits in digital transformation. It is necessary to implement mechanisms for monitoring technical change to generate public policies aimed at leveling technological adoption in small and medium-sized enterprises. This work provides a global and intersectoral view of the process of diffusion of enabling technologies for Industry 4.0 through multivariate analysis techniques and data science, being a contribution to what is currently worked on focused on the study of business cases, on the monitoring of a specific technology or on an analysis of a specific productive sector.
{"title":"DIFFERENCES IN THE CAPACITY OF ADOPTION OF THE ENABLING ICTs FOR INDUSTRY 4.0 IN CHILE","authors":"Francisco Gatica-Neira, Mario Ramos-Maldonado","doi":"10.15240/tul/001/2022-4-012","DOIUrl":"https://doi.org/10.15240/tul/001/2022-4-012","url":null,"abstract":"In the context of the Fourth Industrial Revolution this paper analyzes the factors that explain the degree of diffusion of some Information Technologies (ICTs) enabling Industries 4.0 in Chilean companies. In this group we find technologies such as: Big data, RIFD (Radio frequency identification), Cloud computing, ERP (Enterprise requirements planning), CRM (Customer relationship management), SCM (Supply chain management) and Computer security. Through the analysis of clusters, orderly logistic regression and decision tree, based on 2,081 companies reported in the Survey of Access and Use of Information Communication Technology (ICT) in Companies 2018 (MINECON, 2020). It is concluded that there is an important difference in technological adoption based on size from the volume of sales and the amount of direct labor. It is also noted that companies that subcontract and at the same time have ICT professionals are more likely to invest in this type of technology. We detected a “technological staggering” where companies begin by incorporating Cloud Computing and ERP and then increase in the number and complexity of the technologies used, achieving greater synergies and benefits in digital transformation. It is necessary to implement mechanisms for monitoring technical change to generate public policies aimed at leveling technological adoption in small and medium-sized enterprises. This work provides a global and intersectoral view of the process of diffusion of enabling technologies for Industry 4.0 through multivariate analysis techniques and data science, being a contribution to what is currently worked on focused on the study of business cases, on the monitoring of a specific technology or on an analysis of a specific productive sector.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"8 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87433593","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.15240/tul/001/2022-4-006
J. Slavíčková, Ondřej Slavíček
Company life cycle models have been the focus of researchers’ attention for decades, resulting in numerous definitions and determination of stages. Managers are striving to make appropriate strategic decisions at the right time to maximize opportunities linked to various life cycle stages. Assessing a company’s life cycle and determining the stage of the cycle allows us to predict a company’s future development and to prevent crises or even the company’s early termination. In recent years, there has been increased interest in the life cycle assessment of products. However, as a corporate life cycle is longer than that of a product, it still definitely deserves attention – mainly in the field of quantitative criteria. The aim of this paper is to propose quantitative variables to determine a company’s life cycle following two requirements: (1) the variables are derived from publicly available financial statements; and (2) the classification method is suitable for a large sample size including non-listed companies in the stock exchange. Our study shows that our three variables (capital expenditures, return on equity, and sales growth) are suitable for stage classification for each firm-year under the condition of following several steps: counting industry quintiles and/or definition of boundaries, score assignment to stages, designing composite score and sample selection. Based on descriptive statistics of each life cycle stage it is possible to assess the variables used in the context of the further strategic direction of the company. To determine the persistence of enterprises in the defined stages, a transition matrix for the four future years was performed, which showed that companies in the growth and maturity stages will be sustained in these two phases in the vast majority of cases. Finally, we discuss the limitations of the study and further research directions.
{"title":"CLASSIFICATION OF COMPANY LIFE CYCLE STAGES: AN AUTOMOTIVE INDUSTRY IN THE CZECH REPUBLIC","authors":"J. Slavíčková, Ondřej Slavíček","doi":"10.15240/tul/001/2022-4-006","DOIUrl":"https://doi.org/10.15240/tul/001/2022-4-006","url":null,"abstract":"Company life cycle models have been the focus of researchers’ attention for decades, resulting in numerous definitions and determination of stages. Managers are striving to make appropriate strategic decisions at the right time to maximize opportunities linked to various life cycle stages. Assessing a company’s life cycle and determining the stage of the cycle allows us to predict a company’s future development and to prevent crises or even the company’s early termination. In recent years, there has been increased interest in the life cycle assessment of products. However, as a corporate life cycle is longer than that of a product, it still definitely deserves attention – mainly in the field of quantitative criteria. The aim of this paper is to propose quantitative variables to determine a company’s life cycle following two requirements: (1) the variables are derived from publicly available financial statements; and (2) the classification method is suitable for a large sample size including non-listed companies in the stock exchange. Our study shows that our three variables (capital expenditures, return on equity, and sales growth) are suitable for stage classification for each firm-year under the condition of following several steps: counting industry quintiles and/or definition of boundaries, score assignment to stages, designing composite score and sample selection. Based on descriptive statistics of each life cycle stage it is possible to assess the variables used in the context of the further strategic direction of the company. To determine the persistence of enterprises in the defined stages, a transition matrix for the four future years was performed, which showed that companies in the growth and maturity stages will be sustained in these two phases in the vast majority of cases. Finally, we discuss the limitations of the study and further research directions.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"1 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79101120","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.15240/tul/001/2022-4-007
Adriana Tiron-Tudor, Rares Hurghis, D. Topor
IR represents a new reporting model focusing on the value created by a company over time, using various capitals, and is based on integrated thinking. The latest focus of IR research and articles shifted from analysing the potential benefits or the limitations of IR adoption towards identifying determinants and effects of adoption and implementation. Using a holistic approach of IR literature review and incorporating a scientometric analysis for 2011–2021 period, this study aims to provide the big picture of the IR research, revealing contemporary IR themes and providing future research directions. The study identified six major themes that have evolved in the last ten years related to the IR phenomenon: adherence, quality, elements disclosure, alignment, readability, and process. The results highlight three groups of determinants of IR adoption and implementation related to company, country, or industry, company-level ones being the most analysed group. Furthermore, the most-analysed company-level determinants are related to a company’s corporate governance, particularly the board of directors’ characteristics. The effects of IR adoption and implementation are grouped in two categories related to market and company, primarily focusing on market-level effects. Of the examined market-level effects, company value and analysts’ earnings forecasting precision are the two most encountered. This study provides a comprehensive approach by integrating bibliometric analysis, science mapping, and qualitative analysis with the latest IR research. The current literature review brings various implications for practice, regulators and academia. Companies that aim to implement integrated reporting using the IIRC Framework could implement company-specific determinants to encourage IR adoption. Moreover, companies can benefit from real effects by adopting IR. Regulators can require specific regulations or implement specific regulations to foster IR rollout. Finally, academics can use the findings of the current literature review for further development and in-depth analysis, even though empirical research.
{"title":"A HOLISTIC REVIEW OF DETERMINANTS AND EFFECTS OF INTEGRATED REPORTING ADOPTION","authors":"Adriana Tiron-Tudor, Rares Hurghis, D. Topor","doi":"10.15240/tul/001/2022-4-007","DOIUrl":"https://doi.org/10.15240/tul/001/2022-4-007","url":null,"abstract":"IR represents a new reporting model focusing on the value created by a company over time, using various capitals, and is based on integrated thinking. The latest focus of IR research and articles shifted from analysing the potential benefits or the limitations of IR adoption towards identifying determinants and effects of adoption and implementation. Using a holistic approach of IR literature review and incorporating a scientometric analysis for 2011–2021 period, this study aims to provide the big picture of the IR research, revealing contemporary IR themes and providing future research directions. The study identified six major themes that have evolved in the last ten years related to the IR phenomenon: adherence, quality, elements disclosure, alignment, readability, and process. The results highlight three groups of determinants of IR adoption and implementation related to company, country, or industry, company-level ones being the most analysed group. Furthermore, the most-analysed company-level determinants are related to a company’s corporate governance, particularly the board of directors’ characteristics. The effects of IR adoption and implementation are grouped in two categories related to market and company, primarily focusing on market-level effects. Of the examined market-level effects, company value and analysts’ earnings forecasting precision are the two most encountered. This study provides a comprehensive approach by integrating bibliometric analysis, science mapping, and qualitative analysis with the latest IR research. The current literature review brings various implications for practice, regulators and academia. Companies that aim to implement integrated reporting using the IIRC Framework could implement company-specific determinants to encourage IR adoption. Moreover, companies can benefit from real effects by adopting IR. Regulators can require specific regulations or implement specific regulations to foster IR rollout. Finally, academics can use the findings of the current literature review for further development and in-depth analysis, even though empirical research.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"1 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91085488","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-01DOI: 10.15240/tul/001/2022-3-005
Tjaša Redek, Tomaž Čater, Barbara Čater, M. Černe, Matjaž Koman
Firms’ performance during exogenous crises depends on several factors, from strategic foresight, financial readiness, and a number of firm-specific as well as sectoral aspects, also including luck and government support. The aim of this paper is to investigate the extent to which the ‘crisis readiness’ of firms, defined by factors like a proactive strategic approach, digitalisation, and financial constraints, as well as the reliance on or availability of government support, is responsible for the outcome during the COVID-19 crisis compared to the long-run contribution made by these factors. The empirical investigation uses a unique combination of firm-level balance sheet data and unique survey data concerning the strategic focus and implementation of Industry 4.0. While the literature suggests that digitalisation, a strategic proactive approach, and crisis readiness (itself depending on several factors) impacted the firms significantly during the COVID-19 crisis, the results show firm performance primarily depended on other (sectoral) aspects serving as a major exogenous factor impacting their performance. During the crisis, digitalisation was additionally mentioned as an important adjustment factor. However, using firm-level data we show that while companies were able to mitigate certain impacts of the supply and demand shocks triggered by COVID-19 using their internal resources and characteristics, including strategic elements, the biggest explanatory factor remains the sector involved. This leads to important managerial and policy recommendations, principally stressing the importance of proactivity and agility for firms’ long-run performance, whereas in the short run the state must help mitigate the effects.
{"title":"FIRM AGILITY AND DIGITALISATION LESS HELPFUL THAN EXPECTED DURING THE COVID-19 PANDEMIC, BUT VALUABLE IN THE LONGER RUN","authors":"Tjaša Redek, Tomaž Čater, Barbara Čater, M. Černe, Matjaž Koman","doi":"10.15240/tul/001/2022-3-005","DOIUrl":"https://doi.org/10.15240/tul/001/2022-3-005","url":null,"abstract":"Firms’ performance during exogenous crises depends on several factors, from strategic foresight, financial readiness, and a number of firm-specific as well as sectoral aspects, also including luck and government support. The aim of this paper is to investigate the extent to which the ‘crisis readiness’ of firms, defined by factors like a proactive strategic approach, digitalisation, and financial constraints, as well as the reliance on or availability of government support, is responsible for the outcome during the COVID-19 crisis compared to the long-run contribution made by these factors. The empirical investigation uses a unique combination of firm-level balance sheet data and unique survey data concerning the strategic focus and implementation of Industry 4.0. While the literature suggests that digitalisation, a strategic proactive approach, and crisis readiness (itself depending on several factors) impacted the firms significantly during the COVID-19 crisis, the results show firm performance primarily depended on other (sectoral) aspects serving as a major exogenous factor impacting their performance. During the crisis, digitalisation was additionally mentioned as an important adjustment factor. However, using firm-level data we show that while companies were able to mitigate certain impacts of the supply and demand shocks triggered by COVID-19 using their internal resources and characteristics, including strategic elements, the biggest explanatory factor remains the sector involved. This leads to important managerial and policy recommendations, principally stressing the importance of proactivity and agility for firms’ long-run performance, whereas in the short run the state must help mitigate the effects.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"24 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74120341","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-01DOI: 10.15240/tul/001/2022-3-006
Hsiao‐Yen Mao
Facing fiercely competitive global environments, organizations use widespread mass production of goods and services for lower cost and larger market shares for survival and growth. Thus, a job design and characteristic of standardization has long been adopted and recognized to be essential for the competitiveness of organizations by sustaining output consistency, effectiveness and efficiency. However, Keeley (1988) maintained that organizations have a fundamental tension between the goal of efficiency and the goal of morality and struggle for a delicate balance between these competing objectives. This tension elicits the question whether job standardization relates to deviant workplace behavior (DWB), which is immoral, pervasive in the workplace and harmful to organizational competitiveness. Using conservation of resources theory as an underlying explanation, this study developed an interesting theoretical model that specified how and why job standardization enhances DWB directed at the organization (DWB-O) and attenuates DWB directed at organizational members/individuals (DWB-I). Three-wave panel survey data were collected from 283 employees with various occupations. Empirical results found job standardization evokes employee boredom, which, in turn, translates into increased DWB-O and decreased DWB-I, suggesting employees’ concern for workplace relationships. With job design of standardization, organizations can use the influence of coworkers to stifle DWB-O. This study extends and shifts the understanding of job standardization consequences from the side of employee positive behavior to the side of negative behavior. DWB literature on situational antecedents, focusing on the organizational systems/social context and theory, is enriched by invoking a job perspective of standardization and resource theory.
{"title":"JOB STANDARDIZATION AND DEVIANT WORKPLACE BEHAVIOR","authors":"Hsiao‐Yen Mao","doi":"10.15240/tul/001/2022-3-006","DOIUrl":"https://doi.org/10.15240/tul/001/2022-3-006","url":null,"abstract":"Facing fiercely competitive global environments, organizations use widespread mass production of goods and services for lower cost and larger market shares for survival and growth. Thus, a job design and characteristic of standardization has long been adopted and recognized to be essential for the competitiveness of organizations by sustaining output consistency, effectiveness and efficiency. However, Keeley (1988) maintained that organizations have a fundamental tension between the goal of efficiency and the goal of morality and struggle for a delicate balance between these competing objectives. This tension elicits the question whether job standardization relates to deviant workplace behavior (DWB), which is immoral, pervasive in the workplace and harmful to organizational competitiveness. Using conservation of resources theory as an underlying explanation, this study developed an interesting theoretical model that specified how and why job standardization enhances DWB directed at the organization (DWB-O) and attenuates DWB directed at organizational members/individuals (DWB-I). Three-wave panel survey data were collected from 283 employees with various occupations. Empirical results found job standardization evokes employee boredom, which, in turn, translates into increased DWB-O and decreased DWB-I, suggesting employees’ concern for workplace relationships. With job design of standardization, organizations can use the influence of coworkers to stifle DWB-O. This study extends and shifts the understanding of job standardization consequences from the side of employee positive behavior to the side of negative behavior. DWB literature on situational antecedents, focusing on the organizational systems/social context and theory, is enriched by invoking a job perspective of standardization and resource theory.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":"44 1","pages":""},"PeriodicalIF":1.5,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83042905","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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