Lenka Vyrostková, Rajmund Mirdala
With the creation of EMU (Economic and Monetary Union), new economic conditions were also created. Before entering the euro area, the EU (European Union) member states must fulfill the convergence criteria (or “Maastricht convergence criteria”), which are based on economic indicators and they must continue to respect them once entered. One of the criteria is the price stability and height of the inflation rate. Together with the creation of a new economy, the topic of examining inflation persistence has become actual, particularly over the past decades. Inflation persistence is one of the most important parameters influencing the conduct of monetary policy. The central bank is interested in the degree of inflation persistence to improve inflation forecasting and reliably estimate the dynamic responses of inflation to shocks. The persistence of inflation is known to have a strong impact on monetary policy. If there is considerable inertia in inflation, then inflation shocks take a long-lasting nature and make it difficult for the central bank to control it.
Viera Pacáková, Viera Labudová, Ľubica Sipková
Reducing the gender pay gap is one of the key priorities of gender policies at both the European Union and at the national levels. At the European Union level, the European Commission priority is “reducing the gender pay, earnings, and pension gaps and thus fighting poverty among women” as one of the key areas in the framework of the Union of Equality: Gender Equality Strategy 2020–2025 (European Commission, 2020). The unadjusted gender pay gap indicator is used to monitor imbalances in earnings between men and women (Eurostat, 2021a). The unadjusted gender pay gap (GPG) is defined as the difference between the average gross hourly earnings of men and women expressed as a percentage of the average gross hourly earnings of men. It is calculated for enterprises with 10 or more employees (Eurostat, 2021b).
Ping Li, Huiying Fu, Yueyao Li
In recent years, the wave of digitalization has swept the world, and the digital economy, a new economic form, has emerged and become an important driving force for transformation and upgrading, as well as the high point of a new round of industrial competition among countries around the world. In particular, the COVID-19 outbreak in 2020, while giving the traditional manufacturing industry a considerable impact and posed severe challenges to economic development around the world. It has further highlighted the role of the engine of the digital economy and made it a key driving force for the global economic recovery and the development of the world economy (Steiner, 2019). For China, on the one hand, after years of rapid development, the traditional kinetic energy of the national economy continues to weaken and can no longer forcefully pull the economy to soar, so it is urgent to find new economic growth kinetic energy; on the other hand, the extensive traditional pattern of economic growth emphasizes quantity, ignores quality and low efficiency, which causes waste of resources and also brings severe environmental problems.
Hyman P. Minsky focused on explaining investment by means of a financial theory; the financial instability hypothesis, put forward by Minsky, provides an explanation to the existence of business cycles by tracing their roots back to the transformation from robust financial markets to fragile financial markets (Minsky, 1992). During the final years of his life, his attempts were placed in a historical framework of analysis, with which he aimed to explain capitalist development based on the assumption of multiple forms of capitalism (Sau, 2019). His theory of capitalist development was published under the names “Schumpeter: Finance and Evolution” (Minsky, 1990) and “Schumpeter and Finance” (Minsky, 1993). His focus in the final era of his life was to give a new interpretation to the Schumpeterian theory of capitalist development by introducing Keynesian insights into it. With this research, he proposed four stages of capitalist development, which are labelled as commercial capitalism, financial capitalism, managerial capitalism and money-manager capitalism (Minsky, 1990, 1993).
Zuzana Dvořáková Líšková, Nikola Sagapova, Roman Buchtele
Brownfields (greenfields) are defined as the areas with a significant change in the past from sites with intensive use to sites with limited use, further to under-utilized and abandoned areas (De Sousa, 2003; Frantál et al., 2013; Syms, 1999). Brownfields are generally classified as the sites with a high probability of substantial changes. Marcuse and van Kempen (2000) use the term ‘soft locations’ for such sites. Brownfields are the sites characterized by abandonment, discontinuation of production and often associated with land contamination (Jetmar, 2008; Kirschner, 2005; Lange & Mc Neil, 2004). This fact may lead to the loss of value of such property accompanied by a decrease in the land price, an increase in unemployment, or increased costs of the clean-up (Čiháková Aguilar, 2009). Although brownfield sites are the post-industrial outcomes of various anthropogenic activities and land use, the scarcity of land may play an important role in the attempts of finding new ways of utilization, redevelopment, and restoration of such areas based on their evaluation with regard not only to environmental issues but also sustainable development (Ahmad et al., 2018).
Jana Slavíčková, Ondřej Slavíček
The life cycle of companies is a popular topic among researchers and managers, as it provides guidance for strategic decisions according to the current life stage of the organization. Each stage of a company’s life cycle imposes its own set of features and needs, including employees, leadership styles, structure, decision making, information processing, and approach to innovation (Miller & Friesen, 1984). The popularity of this topic brings with it a large number of approaches to determine a life cycle stage and, at the same time, different numbers of stages (from three to ten) in the presented models. A model with three phases is represented by Smith et al. (1985); four phases by Quinn and Cameron (1983), Pashley and Philippatos (1990); five phases by Miller and Friesen (1984), Lester et al. (2003); eight phases by Torbert (1974); and ten phases by Adizes (1979). Authors from the last decade are listed in the chapter Theoretical Background.
Adriana Tiron-Tudor, Rares Hurghis, Dan Ioan Topor
In the last 20 years, Integrated Reporting (IR) has evolved from an emerging trend into an institutionalised corporate reporting practice. Novozymes (a Danish bio-industrial firm) was the first company in 2002 to issue an integrated report, being followed by Natura, a Brazilian cosmetics firm, in 2003, and the Danish diabetes firm Novo Nordisk in 2004 (Eccles et al., 2011). Even though the early adopters appeared in the 2000s (Eccles & Krzus, 2014), the need to report on a company’s non-financial aspects appeared 25 years earlier, evolving through the ‘triple bottom line’ of sustainability reporting (SR), environmental social and governance (ESG) and Global Reporting Initiative (GRI) reporting (Gibassier et al., 2019). Around the 2010s, IR rose in various regions and legislations, being consolidated as a practice after 2013 with the International Integrated Reporting Committee (IIRC) Framework (Dumay et al., 2016; Gibassier et al., 2019; Rinaldi et al., 2018).
Anh Chi Phan, Ha Thu Nguyen, Hao Anh Nguyen, Yoshiki Matsui
The COVID-19 pandemic has caused turbulence that significantly shocks supply chain management. Regardless of the industry, we have seen the supply chain disruption due to factories shutdown, social distancing, restrictions in transportation, raw materials shipping, and border closure (Sarkis, 2020; van Hoek, 2020). Consequently, a research trend emerged to improve supply chain sustainability, resilience, and performance (e.g., Ivanov & Das, 2020; Shen & Sun, 2021), which raised the importance of close communication and collaboration among supply chain partners. For example, manufacturing firms can improve supply chain learning through supplier development activities and customer knowledge absorption (Huo et al., 2020). Supplier development refers to upstream supply chain coordination, which is the effort of focal firms to improve suppliers’ performance and capabilities to ensure long- and short-term supply needs (Krause et al., 2007).
Tulsi Paudel, Wen Ya Li, Yeong Gug Kim
Tourism is responsible for the movement of people worldwide, and the tourism industry has an enormous contribution to the global economy (Toral-Granda et al., 2017). According to World Travel and Tourism Council (WTTC, 2019), the tourism industry contributed 10.4% of the world’s service sector’s GDP and generated 319 million jobs, or 10% of total employment, in 2018. However, tourism is also one of the largest environmental resource consumers, accounting for nearly 5% of global CO2 emissions (UNTWO, 2017). Furthermore, environmentally friendly activities such as responsible tourism, sustainable tourism, and ecotourism improve local people’s quality of life and minimize environmental problems (Caruana et al., 2014). Therefore, it is necessary to emphasize environmentally friendly tourism activities.
Violeta Mihaela Dincă, Alina Mihaela Dima
The COVID-19 pandemic has created an unprecedent crisis for SMEs and challenged each single enterprise to reconsider its business operations and to adapt to the new unexpected circumstances (Caballero-Morales, 2021). Also the humankind finds itself facing unparalleled situation since the worldwide outbreak of the COVID-19 created significant changes in societies worldwide (Veselovská et al., 2021). This pandemic will have considerable outcomes on essential stakeholders in the publishing industry as well. Taking into consideration that physical book shops were constrained to cease activities for a period of time, and that customers may not be willing to physically visit bookshops due to health cautiousness, the trend of online book purchasing has increased rapidly in a short period of time. There is, consequently, a pressing urgency for publishing houses and book selling companies to enhance and strengthen their presence within the digital market (Dincă et al., 2020).