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- ItemThe dark side of knowledge transfer: A visual analysis using VOSviewer(Technická Univerzita v Liberci, ) Wang, Yijing; Wang, Changfeng; Ekonomická fakultaBuilding the core competitiveness and improving the innovation performance of the team is becoming increasingly important to keep pace with changing economic environments and emerging technological opportunities. However, the dark side of knowledge transfer can lead to a series of harmful consequences which will destroy the core competitiveness and creativity of the team, even will reduce the innovation performance of the team. And the literature on the dark side knowledge transfer is very fragmented and lack of coherence, leading to more needs to systematically sort through studies on the dark sides of knowledge transfer. Therefore, this paper aims at reviewing the extant knowledge transfer and its dark side research field to understand the historical roots, its temporal progression, current state and potential future in a meaningful way. Data for this study were retrieved from the Web of Science database using a systematic literature search process. The bibliometric characteristics of 926 research documents were analyzed using bibliometric and knowledge mapping analysis. Based on a visual analysis tool VOSviewer, this paper provides a comprehensive review of the dark side of the knowledge transfer research field. The authors provide a quantitative review of these studies through the use of three bibliometric techniques: general description analysis, co-word analysis, and bibliographic coupling. This paper provides an overview of the annual publication trends, most productive and impactful countries, authors, and sources. The authors present an overview of historical progression, current status, and future directions of the dark side of knowledge transfer research based on an in-depth content analysis of these knowledge maps. This is a unique endeavor to accomplish a systematic bibliometric analysis of the dark side of knowledge transfer, offering an intellectual framework which reveals the antecedents and consequences of the dark side of knowledge transfer.
- 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.
- 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.
- 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.
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