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    Modelling internationalization of high growth firms: micro level approach
    (Technická Univerzita v Liberci, 2019-03-15) Korsakienė, Renata; Kozak, Vratislav; Bekešienė, Svajonė; Smaliukienė, Rasa; Ekonomická fakulta
    The role of owners/professional managers has been recognized as a vital in the development processes of high growth firms (HGFs), contributing to countries’ productivity and competitiveness. The purpose of the paper is to identify and analyse some of the most significant factors, impacting internationalization of HGFs by investigating the attitudes of owners and professional managers. Theoretical discussion, related to international entrepreneurship, entrepreneurial traits and entrepreneurial perceptions, has led to the development of the research instrument. The analysis is based on a quantitative approach: the survey focuses on Lithuanian HGFs. The sample comprises 353 firms, included in the annual Gazelle list. The study does not reveal the difference between the attitudes of owners and professional managers. The results corroborate previous investigations disclosing that the traits of entrepreneurs and managers, matching entrepreneurial tasks, are good predictor of HGFs internationalization. The importance of external incentives, perceived by the owners and managers, are decreasing while HGFs internationalization is increasing. The joint effect of entrepreneurial traits and perceptions of internal and external barriers are good predictors of HGFs internationalization. The findings of the study are useful for the policy makers in the financial support decision making process and in the development of additional training programs. The implications for the managers of HGFs lie in the possibility to assess their personality traits and conclude about their suitability to that task. The research fills the gap in the extant knowledge by investigating micro-level factors and provides valuable findings on HGFs in Eastern European country.
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    Collaboration for innovation in small CEE countries
    (Technická Univerzita v Liberci, 2019-03-15) Prokop, Viktor; Stejskal, Jan; Hudec, Oto; Ekonomická fakulta
    The innovative environment and its elements are crucial determinants of the innovation activity of enterprises in developed economies. Also public authorities also focus on innovation environment development, which are being implemented with financial support from public budgets. In developed countries, these incentives are geared to promoting cooperation, as it is a key element of any innovative environment. In Western economies, a certain Western innovation model is being implemented. However, its application in the CEE countries is significantly limited due to the specific characteristics of these economies. Therefore, the main focus of the paper is to examine the impact of cooperation with different types of innovation partners on product innovation performance of manufacturing companies in small CEE countries. In the first phase of the research, CIS data (from Eurostat) and its own regression models identify the types of co-operating partners (private and public) that have the most significant impact on product innovation (researched separately in selected CEE countries). In the second part, the model is constructed so as to identify the predictors, the variables having a significant impact on product innovations across countries (using a merged dataset from all analysed CEE countries). To expand knowledge about innovation and business performance, three variables were added to the model as control variables: market orientation, company ownership, and public funding. The combined dataset of the five CEE countries was again used to examine the impact of different types of co-operating partners on product innovation through a binary logistic regression model. Findings of logistic regression are encouraging; pointing out that the transition to a market economy with a delay has also encouraged the establishment of relationships between firms and private institutions in favour of boosting innovation performance. In doing so, CEE countries are gradually approaching the behaviour of firms in Western European countries.
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    An expanded conceptualization of “smart” cities: adding value with fuzzy cognitive maps
    (Technická Univerzita v Liberci, 2019-03-15) Miguel, Bárbara P.; Ferreira, Fernando A. F.; Banaitis, Audrius; Banaitienė, Nerija; Meidutė-Kavaliauskienė, Ieva; Falcão, Pedro F.; Ekonomická fakulta
    The world’s rapidly growing population is an issue to be taken seriously. Its consequences could be dramatic if the required steps are not taken. Concerns about this problem have led to the creation of “smart” cities, which promote improvements in citizens’ quality of life through a combination of new technologies and environmentally sustainable practices. For these cities to be truly “smart”, they need to be evaluated in order to understand the areas in which interventions are necessary to make these cities economically stable and environmentally sustainable. In this regard, various studies have sought to understand which indicators should be considered in assessments of smart cities and how this process should be conducted. Thus far, however, researchers have found that using “loose” indicators, which measure only some areas of these cities, is insufficient. That said, this study proposes the use of fuzzy cognitive maps to analyze the dynamics behind smart cities’ components. Grounded in intensive group meetings with a panel of experts in different dimensions of these cities, the method applied produced a well-informed, process-oriented framework that contains the characteristics and components that should be assessed in this type of city. Specifically, after a fuzzy cognitive map was constructed based on the direct involvement of the expert participants, six main clusters were extracted as key components in the development of smart cities. These clusters were: people; planning and environments; technology; infrastructure and materials; services; and transportation and mobility. The results also facilitate an improved understanding of smart cities’ cause-and-effect relationships and better strategic planning by urban planners and city administrators. The implications, advantages, and limitations of the proposed framework are also presented.
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    Change equation effectiveness: empirical evidence from South-East Europe
    (Technická Univerzita v Liberci, 2019-03-15) Čudanov, Mladen; Tornjanski, Vesna; Jaško, Ondrej; Ekonomická fakulta
    This study was developed with the aim to propose quantitative decision-making model in organizational change management, which is based on change equation application in real time, as an emerging ecosystem that should be further adopted in change management practice to create value in complex decision making and at the same time to increase change success. The paper opted for an integrated qualitative and quantitative research methods, based on empirical data collection. Sampling frame includes respondents from fourteen different industries in South-East Europe. Data analyses were carried out in three main phases using proven statistical methods. Based on the results, general hypothesis introduced in the study is supported. In other words, successful change occurs when the product of all three variables, i.e. D, V and F is higher than resistance to change, and vice versa. Also, research results show that change equation can successfully predict change outcome and explain a portion of change success variability. Finally, research findings indicate that the model should be revised and further developed. Research limitations are determined by significant variance in the model that may result of situational factors. Also, the research was based on a relatively limited sample and focused only on data collection from South-East Europe. Despite its limitations, this study can contribute both to theorists and practitioners. First, the paper contributes to the change management theory, business decision-making theory, organizational development theory and the behavioral theory. Second, the paper can contribute to strategic managers, change leaders, change agents and consultants who deal with change management by adopting the upgraded change model that can be applied in all phases of change process, including measurement of the change outcome.
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    Policies to promote Corporate social responsibility (CSR) and assessment of CSR impacts
    (Technická Univerzita v Liberci, 2019-03-15) Lu, Jintao; Ren, Licheng; Lin, Wenfang; He, Yifan; Streimikis, Justas; Ekonomická fakulta
    The Corporate social responsibility (CSR) concept is linked to the company’s responsibility for its impact on the society. The CSR is important for sustainability, competitiveness and innovation of the economy of each country and is tightly linked to the success in approaching Sustainable Development Goals (SDG) by the world countries. SDGs provide many benefits and opportunities for companies and in terms of risk management, increase the access to capital, improvement of stakeholders’ relationships etc. The literature on CSR has shifted from analysing the questions on whether companies should engage in societal challenges to whether and how countries and people benefit from these interventions in addressing sustainable development challenges, such as poverty, education, health, energy and environment. The recent scientific discussion on the assessment of CSR impacts provides contradictory results and findings. Therefore, this paper aims to shed more light on this issue and provide clear policy recommendations based on the conducted analysis. The paper analyses and compares the main policies that are aiming at the promotion of CSR, including reporting initiatives and requirements. The measures to assess the impact of CSR are discussed as well based on various reporting incentives that are guiding companies on how to assess and actually measure the effects of their activities by setting quantitative indicators. The dynamics of socially responsible companies and sustainability reporting initiatives are provided by indicating the effectiveness of the implemented policies and other initiatives to promote the CSR; however; the main emphasis of the paper is the impact of CSR on the societal challenges such as Sustainable Development Goals and integration of SDGs in the CSR assessment.