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Investors’ reactions on the publication of integrated reports. Evidence from European stock markets

Bianca Raluca Bădițoiu, Roxana Ioan, Valentin Partenie Munteanu, Alexandru Buglea

The growing imperatives of applying the principles of sustainable development in the context of globalization, exposure to climate change, and technological dynamics are leading national and international companies to adopt new performance standards that go beyond the economic sphere. Achieving these performance standards is not only in the strict interest of companies but also of a set of stakeholders (investors, business partners, communities). International institutions, companies, and researchers are developing various strategic frameworks for managing stakeholder relations, both general and sector-specific (Khalilzadeh et al., 2021), integrated reporting being one of the tools to concretize these frameworks. Therefore, making the performance information public has become a business practice. Thus, in the last decade, the number of users of integrated reporting (IR) has increased substantially, serving the purpose of companies to focus not only on financial reporting but also on non-financial issues.

How competitive is SRI in developing financial markets: The case of Central and Eastern Europe

Ana Ivanisevic Hernaus, Davor Zoricic, Denis Dolinar

In line with the recent regulatory and practical development of sustainable finance, financial investments are under increasing pressure to be sustainable and responsible (i.e., to generate both long-term competitive financial returns and positive societal impact). Different stakeholders, from policy makers, over international bodies to private actors, undertake initiatives to incorporate environmental, social and governance (ESG) criteria into financial decisions, which has been coming to the fore, especially in recent years. Sustainable and responsible investment (SRI) – implementing corporate social responsibility (CSR) principles in finance – has thus become a new, alternative investment philosophy. At the same time, the SRI performance is an area of interest to institutional and individual investors (Brzeszczynski & McIntosh, 2014) and a research topic of an increasing number of studies.

The effects of private sector companies’ research and development investments on the adoption of cloud computing services in the European Union

Liviu Toader, Dorel Paraschiv, Vasile Dinu, Daniela Manea, Mihaela Mihai

Innovation is a determining factor for economic growth and competitiveness among national economies. Investments in research and development (R&D) represent a good indicator for evaluating the degree of innovation and the potential for economic growth among the Member States of the European Union. Gross Domestic Expenditure on R&D (GERD – Gross Domestic Expenditure on R&D) is the main indicator of R&D intensity and refers to the total amount of R&D expenditure in an economy by commercial enterprises, governments, higher education institutions and the non-profit private sector organizations. Research and development expenses of companies include all expenses incurred by private companies in a certain period of time: salaries of employees involved in the R&D process, costs of materials, equipment and patents (Borahan, 2022).

Twenty-five years of “E&M Economics and Management”: A bibliometric analysis

Xuan Yao, Zeshui Xu, Miroslav Zizka

This year, E+M Ekonomie a Management/E&M Economics and Management journal will celebrate its 25th anniversary. On this occasion, we have prepared an analysis that maps the development of the journal over the past years and highlights the main milestones. Let us briefly reminisce about the history of the journal. The journal was founded in the second half of 1998 on the initiative of the first dean of the Faculty of Economics (Technical University of Liberec). Associate Professor Jaroslav Jágr approached other deans of faculties of Economics and management in the Czech Republic with the idea of establishing a new journal. These were the faculties in Hradec Králové, Pardubice, Plzeň, Ústí nad Labem and Zlín. The Faculty of Economics, the Technical University of Liberec became the coordinator and the editorial office seat. The journal was originally intended mainly for young researchers. In 1998, there was published the first and the only issue. From the next year onwards, the periodicity of publication was fixed at four issues per year. In some years special issues were also published. However, these were later withdrawn.

Structural Change and Growth Prospects in the Turkish Economy: A Demand-Side Decomposition Analysis

Şahin Nas, Maya Moalla, İsmail Tuncer

After the 24th of January 1980, the Turkish economy had undergone a significant transformation by which inward-oriented and protective import substitution policies had been replaced by outward-oriented and export-based industrialisation and growth strategies (Töngür & Taymaz, 2017). The main characteristics of this transformation composed of liberalisation of the financial sector, opening to foreign markets and integration into international economy (Yeldan, 2016). The government engaged in contractionary fiscal and monetary policies to suppress domestic demand and real wages and kept their priority to increase exports by implementing various incentive and subsidy tools (Doğruel & Doğruel, 2017; Orhangazi, 2020; Soydan, 2018; Yeldan, 2016). As a result of the experienced transformation, Turkey suffered from economic instability and fragility in the post-1980 period (Soydan, 2018). The average annual growth rate decreased from 5.65% in the 1960s to 4.10% in the 1980s (Taymaz & Voyvoda, 2017; World Bank, 2021).

Differences and Similarities in Patterns of Ageing Society in the European Union

Denisa Kočanová, Viliam Kováč, Vitaliy Serzhanov, Ján Buleca

Population ageing currently represents a phenomenon that is occurring around the world. It can also be defined as a consequence of the fertility rate decline and the increasing life expectancy, resulting in an increasing number and a proportion of the population in the post-productive age. For the first time, the elderly population will be predominant over the younger people (World Health Organization, 2020). The ongoing demographic changes are going to characterise the upcoming decades. This process will affect the different areas from the population’s health status through the health systems, the conditions in the labour market, the changing consumption patterns, and the need to provide the system reforms related to higher demand for public resources and finance. Ageing creates deep pressure on fiscal sustainability. It will put unprecedented stress on public finance to fund the pension system, the health system and the long-term care expenditures (Organisation for Economic Co-operation and Development, 2019).

Personality as a Key Determinant of the Organizational Silence in Iranian Startups

Seyedeh Samaneh Seyedi, Abolfazl Darroudi

One of the most critical phenomena in modern economics is the potential impact of startups on innovation, economic growth, and employment rates at the regional, national and industrial levels (Sedláček & Sterk, 2017). While startups’ collective contributions are critical, the high-risk strategies they pursue lead to startups’ high failure rates, up to 90% in some industries (Arora et al., 2018; Cantamessa et al., 2018; Marmer et al., 2011), so improving organizational performance is vital to these businesses.- This study examines one critical organizational phenomenon – organizational silence – in Iranian startups. Organizational silence, first introduced in 2000 by Morrison and Milliken, is one of the most significant barriers to performance, growth, and innovation in organizations, where employees become silent consciously, refusing to express ideas, critiques, suggestions, and opinions about organizational operations to influential persons in the organization (Morrison & Milliken, 2000).

Management Reflections on Innovations in Digitalization, with an Emphasis on Degree of Work Autonomy

Zdenko Stacho, Katarína Stachová, Michal Lukáč, Václav Kupec, Naděžda Petrů

Today’s business environment requires leaders to be able to react quickly to the changes that are constantly emerging. Agile techniques help leaders face such challenges and engage the organization in an environment where it can respond flexibly to emerging changes (Fincke et al. 2020; Hitka et al., 2018). Agile people leadership is based on motivating team members while allowing them to communicate with each other and set goals, with each of them involved in decisionmaking and capable of self-management (Salajová, 2020). In the past, people leadership has mainly focused on the individual and his or her relationship with subordinates or successors. The field of leadership has primarily focused on the behavior, thinking, and actions of the leader in a team or organization (Blštáková et al., 2020; Jankelová et al., 2021; Salajová 2020). This paradigm has dominated the field of organizational behavior for decades.

Employee Attitude to Organisational Change in Small and Medium-Sized Enterprises

Peter Karácsony, Zdenko Metzker, Tihana Vasic, Judit Petra Koltai

The paper’s aim is, in a broader sense, human resource management in the context of change management. Different groups of individuals manage change differently. Therefore, it is essential, appropriate and expedient to examine the perception of change in the 21st century. Changes are happening more and more frequently due to scientific and technical progress. Changes are part of the life of every single member of society or every organisation. Therefore, a study of this issue must be considered justified. This paper presents the results of research focused on small and medium-sized enterprises. Employees of small and mediumsized enterprises in the study evaluated the effects of possible changes in enterprises from their work and organisation. The article examined in more depth personal perceptions, especially those who have not yet undergone a change. The second group surveyed are- employees who have already passed through the ground in their professional lives.

Education vs. Entrepreneurship – Between Theory and Practice: The Case of SMEs in Poland

Andrzej Janowski, Olga Gonchar, Ruslan Yakovyshyn

Entrepreneurship is a source of innovation, employment, growth and economic development (Penaluna, 2018). Therefore, promoting entrepreneurship education is one of the most important policy objectives in the European Union and in the Member States (Kuratko et al., 2021). Raising the level of entrepreneurial knowledge is seen as essential in shaping mindsets as well as providing the necessary competences to develop an entrepreneurial culture. Therefore, it becomes important that efforts in the field of entrepreneurship education are directed towards providing society with an opportunity to acquire the aforementioned competences with the highest degree of educational efficiency (Valerio et al., 2014). Therefore, academics are increasingly calling for more determined action aimed at developing theories of entrepreneurship education (Davidsson et al., 2001; Haase & Lautenschlager 2011; Low & MacMillan 1988). The validity of this appeal is still relevant in 2022 and, although evidence for a well-articulated theory is still limited, the historical foundations of entrepreneurship education theory already exist.
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