Rok 2023 (ročník 26)
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- ItemDefending the nation, securing the economy(Technická Univerzita v Liberci, ) Iuga, Iulia-Cristina; Socol, Adela; Ekonomická fakultaLiterature on the effects of military expenses and GDP is mixed, although a significant body of research supports the hypothesis that military expenses positively impact GDP. To contribute to the literature, this article analyses whether military expenditures influenced GDP in 27 European Union member countries from 1998 to 2021 by studying two clusters specific to the analysed countries: NATO and non-NATO countries. The way in which military expenditures affect GDP has been analysed using both the classic static models for panel data (pooled OLS, fixed effects, random effects, feasible generalized least squares, panel corrected standard errors, Poisson pseudomaximum likelihood regression) as well as by applying dynamic panel model system GMM, reverse causality, and half-panel jackknife regression models, with unemployment and inflation selected as control variables. The findings indicate that the current values of military expenditures positively influence GDP in both clusters, while past values of military expenditures positively influence GDP in the NATO EU countries and negatively affect GDP in the non-NATO EU countries. There are several key differences between NATO EU members and non-NATO EU members, particularly in regard to their security commitments and defence spending. NATO members are part of a mutual defence pact, agreeing to the principle of collective defence, which also impacts public defence policies and public budgets. This paper offers practical value to policymakers, stakeholders, and academicians. In addition, it has two significant political implications. First, it highlights the role of military expenditures as a catalyst for economic growth but does not underestimate the dangers of using military spending as a pretext to stimulate employment. Second, it establishes the optimal proportion of military expenditures required to fulfil two essential targets of national and European policies – security and welfare.
- ItemINTELLECTUAL CAPITAL AND FIRM PERFORMANCE WITHIN TELECOMMUNICATIONS INDUSTRY DURING THE NEW NORMAL ERA(Technická Univerzita v Liberci, ) Muftiasa, Afdol; Wibowo, Lili Adi; Hurriyati, Ratih; Rahayu, Agus; Ekonomická fakultaIn the post COVID-2019 era, companies are making a variety of changes to boost their performance. Companies need to understand that rivalry is for physical and intangible assets, such as intellectual capital, when they want to thrive and succeed in the market. Research on the relationship between intellectual capital and firm performance has become a study that has received wide attention from researchers from various disciplines. The purpose of this research was to analyze how intellectual capital, comprising human, structural and relational capital, affected firm performance in the telecommunications sector during post COVID-2019 era. Quantitative research using a questionnaire survey was used in this study. A valid research instrument was utilized to survey 115 employees from all telecommunications companies in Indonesia listed on the Indonesia Stock Exchange in 2019–2021. Human, structural, and relational capital were hypothesized to have a positive effect on company performance, and their relationship was investigated. Intellectual capital was found to have a statistically significant and positively impacting relationship with firm performance. Recommendations are then made for researchers and practitioners. This research has implications for practitioners. Practitioners can concentrate efforts on the three main components of intellectual capital management. Furthermore, managers in companies, especially telecommunications companies, understand how intellectual resources evolve following current developments and will ultimately positively impact performance. This is one of the very few studies examining the relationship between intellectual capital and firm performance in the Indonesian telecommunications industry and the first to investigate this relationship with perceptual measures in Indonesia.
- ItemForeign direct investments and participation in global value chains: New evidence from advanced manufacturing industries in Central and Eastern Europe(Technická Univerzita v Liberci, ) Kersan-Skabic, Ines; Barisic, Antea; Ekonomická fakultaForeign direct investments (FDIs) and trade within global value chains (GVC) have been considered one of the most important vehicles of economic development and competitiveness, especially for countries in transition. The countries of Central and Eastern Europe are competing to attract not only high amounts of FDI inflows but they also put emphasis on the FDIs’ sectoral structure. FDI inflows into advanced industries can represent the basis of technological development that will lead to the creation of a greater number of high-skill jobs and a higher level of innovation, thereby influencing the reduction of the economic gap in relation to developed countries. This study aims to explore the importance of FDI inward stock for GVC participation in the advanced manufacturing industries in eleven EU member states that transferred to market economies in the 1990s and attracted vast amounts of FDI inflows since then. The dynamic panel data analysis results indicate the importance of FDI inward stock in the manufacturing industry for the GVC participation in advanced manufacturing industries across this set of countries while also stressing the important implications of manufacturing share in GDP changes for these industries’ backward GVC participation. The findings confirm a positive association between attracting FDI in the manufacturing sector and GVC integration in advanced manufacturing industries. Such FDI targeting can be a vehicle for internationalization and development of high-tech and knowledge-based industries.
- ItemNexus between corporate governance and earnings management in family and non-family firms(Technická Univerzita v Liberci, ) Naz, Aziza; Naďová Krošláková, Monika; Farheen, Iqra; Čvirik, Marián; Michálková, Anna; Ekonomická fakultaThis study explores the relationship between internal corporate governance mechanism and accruals and real earnings management (EM), following Pakistan’s 2012 amended Code of Corporate Governance. It also examines the moderating role of family firms on the relationship among corporate governance mechanisms and accruals and real earnings management. For this purpose, we used a sample of 172 firms listed on the Pakistan Stock Exchange (PSX) for 2012–2019. The dependent variables were estimated by utilizing the generalized method of moments (GMM), fixed random effects and moderation analysis were estimated through Stata. Hausman specification test was used to choose among random and fixed effects. Results report that board size showed a significant positive impact on abnormal discretionary expenses and overall real earnings management. Board independence led to a substantial and negative impact with accruals EM. Managers of familyowned firms are also opportunistically altering the reported earnings. Results illustrate to the users of financial statements that the reliability of financial information depends on the effectiveness of corporate governance. Also, highlight the efficiency of monitory mechanisms and suggest that board independence is one of the practical approaches for an emerging market to restrain the EM practices. Findings are helpful for regulators, policymakers, and investors to regulate and make policies to improve the financial reporting quality in Pakistan. As per the authors’ knowledge, this study adds the novelty by focusing on two critical internal monitoring mechanisms (board independence and board size) in mitigating earnings management, following the 2012 amended Code of Corporate Governance in Pakistan. It will add uniqueness by studying the moderating role of family ownership, as the literature is scarce. The findings of this study highlighted the impact of the internal monitoring mechanisms on earning management practices in Pakistan.
- ItemStrategic management, scenario analysis and competitive advantage analysis: New opportunities for anti-money laundering system reform(Technická Univerzita v Liberci, ) Lyeonov, Serhiy; Bilan, Yurii; Kuzmenko, Olha; Krukhmal, Olena; Vasa, László; Ekonomická fakultaThe article identifies and mathematically substantiates vectors of reforming the financial monitoring system based on the synergistic approach in the cross-country context by developing scenarios by selecting internal and external factors that stimulate money laundering. The key external and internal factors of the money laundering process intensification are indicated. Competitive advantages of the anti-money laundering processes, the achievement of which is possible in terms of key external and internal factors for activation of money laundering process are formed. The relationship between the key internal and external factors of money laundering intensification and competitive advantages by building a binary characteristic matrix is formed. The synergy effect made by the mutual influence of simultaneously acting internal and external factors – a quantitative feature of the further strategy of the financial monitoring system reforming in terms of cross-country analysis is calculated. An economic-mathematical model for evaluating and interpreting strategy for improving the financial monitoring system in terms of cross-country context based on integer optimization is developed. In the article, there is calculation of the number of competitive advantages received by each observed country, without considering the possible synergy effect of mutual influence of simultaneously acting internal and external factors on each other. Moreover, there is quantitative assessment of the synergy effect made by the emergence of additional competitive advantages due to a certain combination of simultaneous influence made by external and internal factors of the money laundering intensification. The “ideal” situation of the possibility of gaining all possible competitive advantages in reforming the financial monitoring system in terms of cross-country context by overcoming internal and external factors stimulating the money laundering is studied. The results of the cross-country analysis form a basis for the further formalization of the limits for quantitative evaluation of the developed strategies through a uniform distribution.
- ItemPerception regarding European Green Deal challenges: From environment to competition and economic costs(Technická Univerzita v Liberci, ) Stoian (Bobalca), Iuliana Claudia; Clipa, Raluca Irina; Ifrim, Mihaela; Lungu, Anca Elena; Ekonomická fakultaThe objective of sustainable development cannot leave aside the relevance of short-term benefits, long-term negative externalities, and opportunity costs of actions implied by the complex relation economy-society-environment. The transition to a green economy cannot be based exclusively on win-win solutions for all involved parties but requires taking into consideration potential trade-offs between several objectives. The EU strategy for achieving sustainable development and energy security is materialised in the project European Green Deal, which sets courageous goals. Our paper groups the advantages and disadvantages of EGD policies, using exploratory and descriptive research. In this context, we analyse, based on interviews and a questionnaire, the perception of students who have taken Economics courses and are familiar with the topics of externalities and economic policies in relation to the challenges posed by the European Green Deal. While the initiators of this project expect the increase of energy efficiency of the EU states, the encouragement of cleaner industrial activities, the reduction of pollution and of other threats related to global warming, and assuring a more sustainable future for the European economy, the main concerns are related to social costs and loss of European companies’ competitiveness. Our findings identified some costs regarding international transactions’ financial aspects and competition, while the main benefits were related to environmental protection. Policy implications of this study refer to a more rigorous configuration of policy measures, through expanding the studies regarding the perception of the energy policy, for a wider and better public understanding and acceptance of its benefits and implications.
- ItemTWENTY-FIVE YEARS OF “E&M ECONOMICS AND MANAGEMENT”: A BIBLIOMETRIC ANALYSIS(Technická Univerzita v Liberci, ) Yao, Xuan; Xu, Zeshui; Žižka, Miroslav; Ekonomická fakultaE&M Economics and Management (E&M), originally founded in 1998, is dedicated to promoting advancements in the fields of Economics and Management based on theoretical and empirical analyses. Motivated by its 25th anniversary in 2023, this paper utilizes bibliometrics to make a comprehensive analysis of publications of the E&M that are included in Social Sciences Edition of the Web of Science (WoS). First, we make a performance analysis of the related publications to present the development and distribution of the E&M publications between January 2008 and April 2022 from the aspects of publication and citation structure. Second, a visual analysis of the literature called science-mapping analysis is implemented to display the structural and dynamic organization of knowledge of the E&M publications with the help of bibliometric tools VOSviewer and Bibliometrix. Finally, the paper discusses the evolution of E&M and some of the limitations and prospects to help editors and researchers understand how E&M has evolved over time and where it can be improved. This paper also provides a model of future effective analytical methods for assessing the data from a particular journal. According to the findings, researchers throughout the world publish in this journal on a regular basis. E&M is growing significantly during twenty-five years, and is becoming one of the influential journals in the fields of Economics and Management.
- ItemWHO ARE ONLINE GROCERY SHOPPERS?(Technická Univerzita v Liberci, ) Bauerová, Radka; Starzyczná, Halina; Zapletalová, Šárka; Ekonomická fakultaThe acceleration of the digitalisation of grocery shopping is an important trend that shows that this way of sourcing groceries is increasingly accepted by customers. Uncovering, understanding, and describing the differences between online grocery shoppers is interesting from a scientific point of view and a practical one. Correctly targeting a specific customer segment increases the very effectiveness of marketing communication by spending the cost of communicating with those correctly targeted customers that are valuable to the company. Therefore, this paper explores the behaviour of customers when shopping online and tries to find similarities in this behaviour. The aim of the paper is to generate customer segments of online grocery shoppers that provide a more comprehensive insight by reflecting on their shopping behaviour, personality traits and characteristics, loyalty, overall satisfaction with online grocery shopping in the current retailer, and frequency of social media usage. An online questionnaire survey was conducted with a panel of respondents from the IPSOS research agency to obtain primary data. Data were analysed using factor and cluster analysis. These analyses resulted in the creation of a segmentation that identified five main segments of online grocery shoppers. The constructed combined segmentation divides shoppers into five segments: quality-oriented shoppers (18.9%), influential utilitarians (21.7%), loyal traditionalists (16.4%), satisfied conditional loyalists (14.9%), and movable eco-sympathizers (28.1%). Then these category types are characterised in terms of their most salient characteristics. The results of this study show the variables that influence customers in their decision-making process. Outcomes increase knowledge about online grocery shopping behaviour, motives, and purchase requirements. These are also beneficial for grocery retailers for better targeting or fostering loyalty.
- ItemInvestors’ reactions on the publication of integrated reports. Evidence from European stock markets(Technická Univerzita v Liberci, ) Raluca Bădițoiu, Bianca; Ioan, Roxana; Partenie Munteanu, Valentin; Buglea, Alexandru; Ekonomická fakultaThe last decades brought to stock market investors’ attention several key issues regarding companies’ activity, besides the financial statements. These issues, such as environmental, social, or corporate governance policies are nowadays included in integrated reports issued by many listed companies worldwide. Although these topics seem to currently attract a high interest in the media, our study’s aim is to determine whether the listed firms’ release of Integrated Reports has any bearing on the issuers’ performance on the capital market as assessed by market value, return, and risk. In this respect, we analysed three different stock market time series’ reactions – daily close prices, daily logarithmic returns, and risk measured by the Expected Shortfall – to the publication of integrated reports, for a sample of 48 companies, listed on various European stock markets. In order to identify any sudden changes in the analysed time series behaviour, immediately after the publication date, we used the Bai-Perron multiple structural breaks test. Our results show that no consistent, significant reactions occur within the analysed time series immediately after the publication of integrated reports, but only isolated, circumstantial reactions seem to appear. Moreover, it seems that the markets show common significant reactions to certain events, marked by major structural breaks, but none of these events could be related to the publication of integrated reports. Within this context, our paper manages to prove that although it currently constitutes a hot topic worldwide, integrated reporting is not a key feature in the investors’ short-term decisionmaking process.
- ItemSTRUCTURAL CHANGE AND GROWTH PROSPECTS IN THE TURKISH ECONOMY: A DEMAND-SIDE DECOMPOSITION ANALYSIS(Technická Univerzita v Liberci, ) Nas, Şahin; Moalla, Maya; Tuncer, İsmail; Ekonomická fakultaOver the past four decades, Turkey has undertaken a wide range of reforms that aim at the liberalisation of foreign trade, relaxation of the tariff system, deregulation of the financial system, and foreign investment regulations. Significant structural change experienced in the Turkish economy pursues access to the global market. This paper presents an empirical investigation of the growth prospects in both the Turkish economy and manufacturing industry during the whole period from 1995 to 2015 and the sub-periods of 1995–2001, 2001–2008, 2008–2015 and 1995–2015. Since investigating the dynamics of economic growth from the supply-side has been well documented in the literature, this work contributes to the literature on the sources of economic growth by providing a more up-to-date analysis from a demand-side perspective in the case of the Turkish economy. We make use of Chenery’s factor decomposition method that decomposes output growth into the growth of domestic demand, import-substitution, growth of export and intermediate demand. Conclusions revealed that the total output evolution of the whole economy and the manufacturing industry was mainly responsive to final domestic demand during the whole period of 1995–2015 and the sub-periods of 1995–2001, 2002–2008 and, 2008–2015. However, the nexus between the final domestic demand and the output evolution tended to weaken during the period from 2001 to 2008, but recovery took place again in the following periods. Moreover, the output growth that stemmed from export expansion was more prevailing in the manufacturing industry. To these ends, policies aimed at increasing income, demand, product diversity and reducing poverty should be applied to encourage the deepening of domestic demand. Furthermore, selective micro policies of industrial and technological upgrading and diversification should be applied to sustain output and export growth and, create a more resilient economy to external shocks.
- ItemHow to hedge extreme risk of natural gas in multivariate semiparametric value-at-risk portfolio?(Technická Univerzita v Liberci, ) Živkov, Dejan; Kuzman, Boris; Subić, Jonel; Ekonomická fakultaThe COVID-19 pandemic and the war in Ukraine have caused huge price changes in the natural gas market. This paper tries to minimise the extreme risk of natural gas, making two sixasset portfolios, where gas is combined with five developed and emerging European stock indices. We observe extreme risk from the aspect of classical parametric Value-at-Risk measure, but we also propose a new approach and optimise portfolios with semiparametric VaR as a target. Estimating the equicorrelation of the two portfolios, we determine that the emerging indices portfolio has a much lower level of integration, which is good for portfolio construction. Additionally, we divide the full sample into the pre-crisis and crisis periods to assess how portfolios look in the two intrinsically different subsamples. According to the results, both portfolios with the developed and emerging stock indices minimise extreme risk very well, but the latter portfolio is better. In the pre-crisis period, this advantage amounts to around 6% in the min-VaR portfolio and 3.5% in the min-mVaR portfolio. However, in the crisis period, the third and fourth moments come to the fore, meaning that hedging results increase significantly in favour of the emerging indices portfolios. In other words, the min-VaR and min-mVaR results of the emerging indices portfolio are better in amounts of more than 14% and 17%, respectively, vis-à-vis portfolios with the developed stock indices. We recommend using the semiparametric VaR metric because it is far more accurate and unbiased compared to the classical VaR since it considers all the key features of portfolio distribution.
- ItemCritical success factors for public procurement of innovative solutions in Central Europe: Empirical study(Technická Univerzita v Liberci, ) Januska, Martin; Palacka, Alena; Ekonomická fakultaThis article aims to evaluate critical success factors in the use of the Public Procurement for Innovations (PPI) concept. The first part of the article deals with a systematic research literature review on the topic of critical success factors for PPI. In the second part, the authors present empirical research conducted as an add-on to the projects PPI2Innovate and RI2integrate within the Europe and Interreg Danube programs. These projects (whose research team included one of the authors of this paper) analyzed the use of the PPI concept in the EU. The authors approached the teams of experts formed in six countries for the purpose of these two projects to make a list of critical success factors, engaging the Delphi method, for the implementation of projects using the PPI method. Sixteen most frequently recurring critical success factors were chosen for further evaluation. These critical factors were then evaluated on a Likert scale in terms of their significance. This is followed by a discussion of the results of the critical factors identified within the systematic literature review with regards to other authors and existing research. In the final part of the article, possible solutions based on experience from pilot projects are proposed to strengthen the usability of the PPI concept. When comparing the key success factors resulting from the literature review with those identified within the expert research, it is apparent that they are mostly the same, although there are slight differences. The expert research identified the sharing of best practices and model projects in the country as additional key success factors.
- ItemThe effects of private sector companies’ research and development investments on the adoption of cloud computing services in the European Union(Technická Univerzita v Liberci, ) Toader, Liviu; Paraschiv, Dorel; Dinu, Vasile; Manea, Daniela; Mihai, Mihaela; Ekonomická fakultaAs European economies rely more and more on know-how and technology, the importance of investment in research and development, especially from the private sector, is increasing. Private investment in research and development leads to innovation and the creation of know-how and technologies that can increase productivity, competitiveness and contribute to economic growth. Private investment in research and development is particularly important in dynamic sectors with high added value, such as the IT&C sector. Cloud computing is one of the most popular IT&C technologies in recent years, particularly because it bridges the gap between large and small and medium-sized companies in terms of IT&C infrastructure investment needs. Due to cloud computing, small companies can benefit from the same technology and infrastructure as the bigger ones, but at lower costs, without having to make large-scale investments in IT&C infrastructure elements such as: computing power, networks, data storage, specialized software products, etc. This paper analyzes the link between the intensity of investments in research and development (R&D), calculated as the share of research and development expenses made by companies in the business environment (business enterprise sector) in GDP or as a percentage of total research and development expenses, in relation to the adoption of cloud computing technology within companies in the Member States of the European Union. The research results indicate a direct and moderate relationship between the intensity of private R&D spending and the adoption of cloud computing technologies among companies in the Member States. This result can be attributed to both the increase in the overall digitization of the countries most active in terms of private R&D investment, as well as the need for affordable and strong IT&C infrastructure to maximize future returns and drive economic growth.
- ItemHow does the effect of external financing on profitability differ across tiers? Evidence from the automotive supply chain(Technická Univerzita v Liberci, ) Toušek, Zdeněk; Hinke, Jana; Gregor, Barbora; Prokop, Martin; Ekonomická fakultaDue to the importance of automotive industry for the Czech Republic (in a broader sense for European countries) and due to the unprecedented development of both national and European economies caused by the COVID-19 outbreak, also having implications on the financial sector, we aim to explore the main determinants of operating performance within the automotive supply chain. This study is based on the data sample composed of complete individual financial statements (audited if available) of firms conducting their business in the Czech Republic from 2011 to 2018 and belonging to the automotive supply chain. This supply chain is defined as (sub) deliveries of the Czech automotive industry represented mainly by companies classified under NACE 22, 27, 25, 24. The hypothesis claiming that the investment and leverage-based variables are the important drivers of operating profitability was only partly confirmed (valid predominantly for Tier 3), which shows that the supply chain organization also plays a crucial role as well as (valid for Tier 1). Also, we have shown (illustrated) that the assumption of different capital structures among tiers is valid. The average overall indebtedness of Tier 3 is higher by approximately 50% (altogether, the short- and long-term leverage are higher by 40% and 62% respectively) than Tier 1 firms. The need for relatively high capital expenditures (applicable to Tier 1) and working capital investments (applicable to Tier 3) is partly facilitated by external funds reflected in the indebtedness, which is associated with the costs reducing overall low profits from these investments. The leverageprofitability relationship seems to be nonlinear for long-term debts contrary to short-term debts where the linear relationship prevails.
- ItemApplying an integrated data-driven weighting system – CoCoSo approach for financial performance evaluation of Fortune 500 companies(Technická Univerzita v Liberci, ) Ersoy, Nazli; Ekonomická fakultaFinancial performance evaluation provides information about a firm’s liquidity position, profitability, capital structure and asset utilization. Financial performance evaluation is considered as a multi-criteria decision making (MCDM) problem, as it is a multidimensional concept that is realized by bringing together multiple indicators. This study is aimed to evaluate the financial performance of the Fortune 500 companies by using the integrated data-driven weighting system (IDDWS) – combined compromise solution (CoCoSo) approach. The criteria weights were calculated with the IDDWS and the companies were ranked by the CoCoSo method. In the last stage, a three-stage sensitivity analysis was performed to test the robustness of the model. In the first stage, 15 scenarios were defined by changing the criteria weights. In the second stage, the rankings of the CoCoSo method were compared with the other MCDM methods [range of value (ROV), proximity indexed value (PIV), complex proportional assessment (COPRAS), Biswas and Saha’s method]. In the third stage, a sensitivity analysis was conducted under five different scenarios based on different δ parameters. It was determined that the rankings obtained as a result of the sensitivity analysis show small deviations and except for a few companies, the ranking of most companies remained the same. The results show that the proposed model is suitable for measuring financial performance and Alphabet performs best. The suitability of the proposed model for measuring financial performance was tested for the first time. It is thought that the comparative use of many MCDM methods through a comprehensive sensitivity analysis will contribute to the literature.
- ItemThe role of executive characteristics in their evaluation of financial conditions of European SMEs(Technická Univerzita v Liberci, ) Ključnikov, Aleksandr; Civelek, Mehmet; Durda, Lukáš; Fialová, Vendula; Folvarčná, Andrea; Ekonomická fakultaThe majority of SMEs (small and medium-sized enterprises) have a lower amount of financial assets and earnings compared to their larger counterparts. Therefore, their probability of encountering financial troubles is greater. However, the obstacles they face and perceive might differ depending on their executives’ characteristics. In this regard, this research targets to indicate similarities or differences in the perception of financial conditions by companies’ executives who are of various gender, age, and educational status. Moreover, this paper analyzes SMEs from different countries. By doing so, this research also aims to examine international differences in executives’ characteristics and their perceptions of financial conditions. In line with those targets, the researchers create an internet-mediated questionnaire and direct it to the randomly selected respondents who are owners or executives of 1,156 Czech, Slovakian and Hungarian firms. The researchers also use independent samples T-test and ANOVA tests for analysis purposes. According to the results, while the educational status of executives does not play a determining role in the perceptions of financial issues in all research samples, the perceptions of financial conditions differ depending on Hungarian executives’ gender. Moreover, there are significant differences in the perceptions of older and younger Czech executives regarding the financial performance of their companies. Although some studies investigate firms’ or executives’ resource-based view characteristics, they are limited in investigating a single relationship and a research sample (firm characteristics and bankruptcy of a country’s SMEs, etc.). Since this paper sets and investigates differences in various executive-level characteristics and financial issues of different countries’ SMEs, it might draw prospective readers’ attentions, who might be firm executives, policymakers, financing institutions, and academicians. Moreover, comparing various samples from different countries’ SMEs in analyzed relationships is another crucial value addition that this research creates when filling the literature gap.
- ItemLearning goal orientation and abusive supervision(Technická Univerzita v Liberci, ) Mao, Hsiao-Yen; Ekonomická fakultaEmployee learning for competence development is more salient for today’s organizations facing frequent changes from inside and outside, and accordingly, employees’ learning goal orientation (LGO) is noteworthy. This study examines how and why employees’ LGO relates to leadership effectiveness, i.e., employees’ perception of abusive supervision. Competing hypotheses and the mediating mechanisms of a work attitude from LGO, i.e., work enjoyment, and a work behavior from LGO, i.e., compliance behavior, were proposed. In a three-wave panel survey, 304 employees in a variety of occupations completed questionnaires. Results indicate LGO had a negative relationship with abusive supervision and employees with higher LGO had more enjoyment of work, and in turn, less perception of abusive supervision. The positive LGO-abusive supervision relationship was not empirically supported. While employees with higher LGO had less compliance behavior, this reduced compliance did not lead to increased abusive supervision. Hence, the suggestion is that supervisors should let subordinates feel that by performing required tasks, subordinates are learning by doing to facilitate leadership effectiveness. This study uses intrinsic motivation perspective to address an underlying process by which LGO manifests itself in an interpersonal and managerial outcome, abusive supervision. The findings suggest intrinsically motivated actions may mitigate negative perception of supervisors’ interactions. Employees’ intrinsic motivation at work may be a stance to understand their workplace interactions. Goal orientation is an important factor in leadership. Literature shows leaders’ LGO facilitates leadership effectiveness. Corresponding to emerging importance of followers in leadership effectiveness, this study found subordinates’ LGO facilitated their perception of leadership effectiveness in terms of reduced perception of supervisory behavior as abuse. In addition, this study enriches abusive supervision literature by corresponding to a call for examining the characteristics of subordinate and the work in concert to complement the limited work on understanding abusive supervision. Suggestions for future study are provided.
- ItemHas COVID-19 affected the organisational culture of non-governmental organisations?(Technická Univerzita v Liberci, ) Mikušová, Marie; Rydvalová, Petra; Klabusayová, Naděžda; Konečný, František; Ekonomická fakultaOrganisational culture, as one of the key features of any organisation, is related to its performance. This is also true for non-governmental organisations. The purpose of this research is to identify changes in the dimensions of the organisational culture of these organisations caused by the pandemic. Data from 586 respondents, identified through an online OCAI questionnaire, were collected for pre-COVID-19, current, and preferred state. Statistically significant representation of the dimensions was identified in the types of culture. It was found that hierarchy culture was prevalent in pre-COVID-19. The hypothesis of trying to increase competitiveness in times of threat was not confirmed. After COVID-19, clan culture prevailed. It can be noted that individual dimensions of organisational culture changed their location dramatically during the reporting period. But the dimensions in the preferred organisational culture returned mostly to the pre-pandemic state. According to McNemar’s test at an overall significance level of 0.05, there was a difference between the now and preferred periods for dominant characteristics in hierarchy type, organisational leadership in market and hierarchy type, management of employees in clan and hierarchy, strategic emphases in adhocracy type. Of the 24 options, a statistically significant difference was confirmed in six cases. The respondents do not significantly experience feelings of exhaustion or disruption of work-life balance in a post-pandemic situation. The practical findings emphasise the necessity for managers to know the location of dimensions, not only the type of organisational culture. Confirmed facts can help managers, leaders, and policy makers in choosing strategies for shaping organisational culture in non-governmental organisations to achieve the required performance.
- ItemEXPLORING FORMER & MODERN VIEWS: A CATCH-ALL TO ASSISTIVE TECHNOLOGY APPLICATIONS(Technická Univerzita v Liberci, ) Berger, Aleš; Ekonomická fakultaIn life, everyone faces personalized conditions such as ageing, disease, and impairments in hearing, vision, or mobility. In addition, some individuals are born with disabilities that can limit their participation in various areas of life, including work, education, and daily activities. Assistive technology (AT) is a field that aims to provide tools and resources to facilitate the needs of individuals with disabilities or impairments. This article reviews the latest advances in AT, focusing on using Internet of Things (IoT) technologies to provide innovative solutions. The article discusses the deployment of assistive devices in various areas, such as building access, information access, and work and education participation. The goal of this research is to highlight the potential of AT to improve the lives of individuals with disabilities and to provide an overview of the current state of the field. The article also discusses the use of IoT-based solutions in assistive technology and identifies promising areas for future development and deployment. By providing a comprehensive review of the latest advancements in AT, this research aims to contribute to the ongoing efforts to enhance functional capacities and improve the quality of life for individuals with disabilities.
- ItemThe CEO characteristics and Romanian banks performance(Technická Univerzita v Liberci, ) Bunea, Mariana; Ionescu Feleaga, Liliana; Ionescu, Bogdan Stefan; Ekonomická fakultaThe main objective of this research is to identify to what extent the characteristics of the CEO (chief executive officer) influence the financial performance of banks within the Romanian banking system. The sample under investigation includes all 21 Romanian banks, and the analyzed period included the financial years related to the last 5 financial years (2018–2022). Regarding these characteristics, aspects such as age, gender diversity, education, nationality, and duality were included in the research, the financial performance of the banking system being measured through the ROA (return on assets) and ROE (return on equity) indicators, which are often used in the literature, including control variables such as the size of the bank, assessed by the total value of bank assets, the share of debts in total assets and the share of capital in total assets. Regarding the duality of the CEO, this is the practice of the same person holding both the position of chairman of the board of directors and that of executive manager. The authors tried to find the answer to the question: Is there a correlation between CEO characteristics and the financial performance of the banks, and if the answer is yes, to what extent are these correlations significant? To carry out this research, the authors used the SPSS software, the research methodology being predominantly quantitative, including descriptive methods, correlation analyses and regression models. The results of the research indicate that the financial performance of the banks operating within the banking system in Romania (measured by the ROA and ROE indicators) is influenced by the nationality and education of the persons holding the position of CEO but also by the size of the banks, appreciated by the value of their total banking assets.
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