Eurasian Business and Economics Perspectives

Table of Contents

1. Frontmatter

2. Human Resources

   1. Frontmatter

   2. The Effect of HR Practices and Psychological Contract on Employee Performance: The Polish Experience in Business Services Sector

      Anna Rogozińska-Pawełczyk

      Abstract

      This study examines the impact of HR practices system (such as employee resourcing, development, rewards, and relations) on employee performance (EP) (composed of their behaviors and performance) through the mediating role of psychological contract (PC) (expressed by the influence of employer on employee promises fulfilment through employee attitudes). In order to find relationships between the selected variables, and to evaluate the role of the mediator, a correlation analysis and multiple regression analysis were performed using the QUADAS tool. For the purposes of the analysis, the structural equation modelling (SEM) method was additionally applied. The quantitative research was conducted in randomly chosen knowledge-intensive companies on a testing sample of 150 representatives from the business services sector (BSS) (100 managers from the BSS and 50 knowledge employees). The study is providing proof that the HR practices have been shown to have a direct as well as indirect influence on EP, the latter being largely dependent on the fulfilment of the PC by employees and employers. In both cases, the outcomes are significantly determined by individuals’ characteristics. The very fulfilment of the PC also considerably influences EP.

   3. Empirical Evidence of Managerial Attribution in Managing Poor-Performing Employees

      Suhaila Mohamed, Jo Ann Ho

      Abstract

      The Attribution Model of Leadership explains internal and external attributions. However, actual data to explain the construct of internal and external attribution is scarce. This is because past researches use dependent measures already framed in terms of the internal/external categories. To overcome this gap, this study explores the processes that construct internal and external attributions as experienced by human resource managers in managing poor-performing subordinates. Data of this study is based on an in-depth interview of six selected informants. The research finding explains the informants’ own words on the internal/external categories, based on their direct observation and knowledge structures for what specific causes covary with what specific effects. The contribution of this study is the empirical evidence, based on actual data that explains internal and external attribution. This is because the Attribution Model of Leadership is based on dependent measures of covariance analysis, while this research finding explains the processes based on specific explanation of internal and external attribution.

   4. What Should Automobile Businesses in Vietnam Care to Make Employee Creativity?

      Dang Khoa Tran

      Abstract

      This study was conducted to identify factors that automobile businesses in Vietnam should care to make their employees more creative. In order to accomplish the research objectives, qualitative and quantitative mixed research methods were used. Qualitative research aimed to adjust the scale of constructs to suit the Vietnamese market through discussions with 15 executives of car dealers in Vietnam. The result of the quality research was that there were 35 questions to measure 8 constructs in the model. A survey was then carried out with 315 employees working in the automobile businesses in Vietnam. Data collected was processed by SmartPLS software with Partial Least Squares Structural Equation Modeling (PLS-SEM). Research results showed that intrinsic motivation had the strongest influence on employee creativity than work engagement, goal clarity, self-efficacy, LMX exchange, creative self-efficacy, and process clarity. Besides, LMX exchange, intrinsic motivation, and self-efficacy also had indirect effect on employee creativity through work engagement. The administration implications from research results were that managers of automobile businesses in Vietnam could increase employee creativity by focusing on factors such as intrinsic motivation, work engagement, goal clarity, self-efficacy, LMX exchange, creative self-efficacy, and process clarity.

3. Management

   1. Frontmatter

   2. Investigating the Quality of Psychometric Properties Via Rasch Model

      Amal Hayati Ishak, Siti Khadijah Ab Manan, Rafeah Saidon

      Abstract

      The Rasch model is beneficial for validating psychometric properties via a series of indicators. This article elaborates on these indicators, based on the results of a newly developed measurement scale: the Islamic Quality Management Scale (IQMS). The IQMS targets to measure the application of Islamic values in the context of quality management. IQMS is proposed to overcome the weakness of existing scales, which merely focus on material aspects of quality management, disregarding the innate value content of quality management. Based on systematic literature review, a list of good values in the context of quality management is extracted and subsequently conceptualized based on the relevant Quranic verses and prophetic traditions. A list of psychometric properties was developed and validated via the Rasch model. This article elaborates on the empirical evidences of the IQMS reliability via three measures: item polarity analysis, fit statistics, and local item dependency. As these analyses prompt on item scrutiny rather than direct removal, this article discusses the interpretation of the analyses, the appropriate decision taken, and its effectiveness. Based on the results, 11 items are suggested for removal, in order to have a robust measurement scale, which later can be used to evaluate the application of values in quality management context.

   3. Coordination of Market Behaviour by Joint Venture Parent Companies and the Presumption of Restriction of Competition

      Daria Kostecka-Jurczyk

      Abstract

      The article deals with the problem of coordination of market behaviour between the joint venture and its parent companies from the point of view of antitrust rules. The purpose of the article is to examine whether it can be assumed that the presence of joint venture (JV) parents on the same product and geographic relevant market distorts competition on that market. Using the example of rolled asphalt market in Germany, the article indicates that this approach is not appropriate because it focuses solely on the problem of the market structure, though the coordination of market behaviour is not a structural problem. The analysis of coordination of market behaviour between the joint venture and its parent companies should be based on the provisions on anticompetitive agreements. The article shows that the expected coordination between the JV and its parent companies or between the parents themselves cannot be considered as an axiom and it cannot be the basis for prohibiting the creation of JV or for forcing structural changes in the companies.

   4. Management Control as an Effective Instrument in Implementation of the Social Program

      Venelin Terziev

      Abstract

      Programmes are combination of actions, specification by time-terms and executors and are directed towards achieving one or several goals. Thus, from program-targeting management’s point of view, programming is to define the expedience with the choice of one or another approach for maintaining the directions. It ensures the mechanism that allows finding the combination of circumstances for the complete satisfaction of social needs within the frame of the limited budget resources. In this sense, programming makes possible the elaboration of alternative options for taking optimal decision managing the social processes and resources for building and maintaining of expedient social policies and their carrying to the social environment factors dynamic changes. The article focuses and analyses management control as an effective instrument in implementation of the social program.

   5. How the Organization of Medical Record Keeping in a Hospital Ward Affects the Level of Direct and Indirect Costs: Model Approach

      Monika Raulinajtys-Grzybek, Jacek Lorkowski

      Abstract

      Keeping medical records is the process that is necessary for the functioning of healthcare due to legal and epidemiological requirements. The aim of this paper is to assess the impact of the way the process of keeping medical records in a hospital ward is organized on the level of direct costs of this ward related to administrative processes and indirect (social) costs in healthcare resulting from the involvement of medical staff in administrative processes. We have created a model of a hospital ward functioning in conditions of limited human resources and assumed medical demand for health services. We examined the initial level of direct costs of the medical records process and the level of indirect costs associated with patients waiting to be admitted to the ward. Reorganization of the process and allocation of part of the activities to non-medical staff will increase the availability of medical personnel, which will allow more patients to be admitted. Assuming there is no bottleneck in other parts of the treatment process, this results in a decrease in direct costs of the process of keeping medical records and indirect costs related to waiting in the queue for treatment.

4. Marketing

   1. Frontmatter

   2. The Effect of Perceived Usefulness, Perceived Ease of Use, Reward, and Perceived Risk toward E-Wallet Usage Intention

      Akmal Nashren Abd Malik, Sharifah Nurafizah Syed Annuar

      Abstract

      Entering the era of technology modernization, E-wallet can be considered as a leading method of payment that is continuously being used by the worldwide consumers. However, this type of services is still in the early stages and unfamiliar among Malaysian consumers. Until now, only few research papers were discovered toward the measurement of E-wallet usage intention in Malaysia. The factors affecting consumers’ intention toward the usage of E-wallet specifically among youth with range of age of 18–30 years old need to be examined in this paper. Perceived usefulness, perceived ease of use, perceived risk, and reward are the variables that are being used to identify the relationships with E-wallet usage intention by the consumers in Malaysia. To construct the conceptual framework, technology acceptance model (TAM) is selected for this research. The results show that perceived usefulness, perceived ease of use, and reward have a direct effect toward intention to use E-wallet. However, perceived risk has no direct effect toward intention to use E-wallet. There were 251 respondents, and an online questionnaire was used for data collection. This research paper expected to contribute to the literature particularly on E-wallet by finding causes that influence consumer usage intention toward E-wallet.

   3. Intention to Consume Functional Foods in Malaysia Among Older Consumers: Application of the Health Belief Model

      Flaviana Ivy Febian, Sharifah Nurafizah Syed Annuar

      Abstract

      Food consumption pattern is changing toward healthy food due to numerous health threats which lead to product development in the functional food sector as market demand for healthy foods. The functional food is believed to help people with other chronic illnesses because of unhealthy eating habits. So far, there is only a little knowledge on factors influencing consumers’ intention to consume toward functional food and what their perception toward functional foods in Malaysia. The Health Belief Model (HBM) is employed in this study. Hence, the purpose of this paper is to examine consumer intention to consume toward functional foods. Perceived susceptibility, perceived barriers, perceived benefits, and cue to action are expected to have an impact on the intention to consume toward functional foods. The results show that perceived barriers and perceived benefits have a direct effect on intention to consume toward functional foods. However, perceived susceptibility and cue to action have no direct effect on intention to consume functional foods. A survey of 250 older consumers was conducted in Malaysia using offline questionnaires. SPSS 24 and Smart PLS 3.0 were used to analyze the collected data. This study attempts to contribute to the consumer behavior literature by recognizing the factors that influence functional foods consumption among older consumers.

   4. The Effects of Experiential Values to Mall Repatronage Intention in Kota Kinabalu Context

      Fasihah Farhanah Ahmad Farrid, Imelda Albert Gisip

      Abstract

      The aim of this study is to examine the effects of experiential values to mall repatronage intention in Kota Kinabalu context. Emotional value, social value, and sensory appeal value are classified as the experiential value effects, which are identified in the dimension of consumption values. This study is set as a quantitative study with sample size comprising 250 Kota Kinabalu patrons from the 4 major shopping malls with different characteristics in this city involving 1Borneo Hypermall, Suria Sabah, Karamunsing Complex, and Imago. Results of this study found that emotional value has a significant impact on mall repatronage intention. This indicates that positive emotional value predicts an increase in the patronage intention in the shopping mall. Apart from that, another important finding in this study is that sensory appeal value also has strong effect to the patrons attracted to repatronize the mall. These findings strengthen the three dimensions from consumption values theory and behavioral intention which hold that emotional value, social value, and sensory appeal value are important factors affecting mall repatronage intention. Lastly, this study provides essential understanding of the way contemporary Kota Kinabalu patrons can be effectively segmented and targeted by retailers and marketers among existing shopping malls with another soon to be developed around the city.

   5. The Impact of Consumption Values Towards Intention to Visit Green Hotel

      Nur Shakinah Binti Joibi, Sharifah Nurafizah Syed Annuar

      Abstract

      Tourism is currently heading towards sustainable tourism because this sector has detrimental environmental consequences. Many resources, including water, energy and waste disposal, are consumed and generated by the hotel industry. Therefore, the environmentally friendly services in hotel industry are important. The purpose of this paper is to review past study on the impact of the consumption values towards intentions to visit green hotel in Malaysia. A multidimensional measure of consumption values is used to determine which values of consumption are valued by domestic and international tourists. The theory of consumption values such as functional value, conditional value, social value, emotional value and epistemic value in this study is expelled to have impact on intention to visit green hotel in Malaysia. The findings indicate that emotional value and social value have a positive impact on the purpose of visiting a green hotel. Meanwhile, functional value, conditional value and epistemic value show that there is no positive relationship towards the intention to visit green hotel in Malaysia. A survey on 320 tourists in Malaysia has been conducted by using offline questionnaires. This study seeks to contribute to the literature on the intention of tourists to visit the green hotel by identifying factors that affect consumption values.

   6. Pro-Environmental Self-Identity: Scale Purification in the Context of Sustainable Consumption Behavior

      Rini Kuswati, Bernardinus M. Purwanto, Bayu Sutikno, Bayu Aji Aritejo

      Abstract

      Pro-environmental self-identity (PESI) is an individual’s tendency to see himself as an individual who has a pro-environment perspective and action. The aim of this study is to purify the measurement scale of the construct of PESI and to get a scale of measurement which is valid, reliable, and truly able to measure the variable of the PESI in the context of sustainable consumption behavior (SCB). This research consisted of Study 1 and Study 2. Study 1 aims to test whether the construct measurement has really been valid which is able to measure the variable that is to be measured. A series of steps for purification of the measurement scale were carried out in Study 1. The first study used 240 as sample size. In the second study, researchers conducted further purification by improving the scale of item measurement, and it was tested on 205 respondents. The results of the purification of the measurement scale were retested in Study 2. These results prove that the PESI instrument is valid and reliable in the context of sustainable consumption behavior research. Other findings in this study state that sustainable consumption behavior is divided into two dimensions or types of behavior.

5. Finance

   1. Frontmatter

   2. The Analysis of the Investment Opportunities into the Wine

      Daniela Majerčáková, Michal Greguš

      Abstract

      The aim of this article is to characterize and analyze the possibilities of investing in wine and champagne. The object of our research is the investment wine market, which accounts for approximately 0.1% of all wines produced. This wine comes mainly from the French regions of Bordeaux, Burgundy, the Rhone Valley, and Champagne. World wine production in 2018 was more than 282 million hectoliters, while in 2017 there was a significant decline, to 250 million hectoliters. The object of our interest of the wine production gives us a fundamental research question into the analysis, namely, the examination of the benefits and risks of investment wine and its properties, which makes it a suitable investment commodity. The increasing decline of the world’s wine-growing regions and changes in their area over the last century, as well as changing climatic conditions, presuppose a review of another aspect of our analysis, namely the originality and value of investment wine with an advantage or threat compared to other investment opportunities on the market. Our findings show that wine is the most efficient alternative to gold and stock investment during the minimum of 10-year investing period. In our research we used data based on London Liv-ex stock exchange, wine investment portal data, and data from several relevant sources based on previous research.

6. Political Economy

   1. Frontmatter

   2. The Framework of the Nontypical Immigrants in Greece

      Maria Vlachadi, Georgia Koufioti, Athanasios Kounios

      Abstract

      From a political point of view, nontypical migration tends to be the result of immigration controls and the legal framework in the countries of destination. Illegal status and nontypical immigration are perceived as legal products. Irregularity is neither an occurrence achieved nor an unchanging condition. Under the abovementioned scope, the legal framework of Greece concerning the nontypical migration should be gathered, studied, and analyzed. Although every political entity can be considered as the sum of its parts, it must be taken into account that it is a whole that is capable of acting autonomously on the world stage. Nontypical migration may widely be considered as a phenomenon of the late twentieth and early twenty-first centuries, although concerns about the appearance itself seem to be growing faster than the phenomenon itself. Nontypical immigration is no exception or cultural pathology, rather may be seen as a structural feature of modern society.

   3. Living with Decades of Inequality and Deprivation: A Study on the Conflict-Induced Internally Displaced Persons of Bodoland Territorial Council, Assam (India)

      Jhanin Mushahary

      Abstract

      The long-term impact of the displaced persons is enormous from all fronts such as security, psychology, education, human rights and all forms of livelihood. The paper aims to empirically study the economic as well as noneconomic inequality and deprivation of the displaced persons living in No. 01 Bengtol Relief Camp in the district of Chirang in Bodoland Territorial Council, Assam, India. The paper tries to understand the nature of their deprivation and role of government and civil society organizations in bridging the gap of deprivation. The result shows that displaced person has to undergo deprivation in their income, access to education, as well as access to government social schemes. The role of the government and civil society organizations were also found to be inadequate while addressing the deprivation of the displaced persons. We conclude that the study shows displacement makes people deprived of their natural entitlements and host of other benefits.

   4. The Extended Insights into Market Behavior

      Truong Hong Trinh

      Abstract

      The recent socioeconomic development has emerged innovative business models that have much concerned on the value creation and value distribution. Many modern economic issues cannot be explained within traditional economic theory. It requires conducting theoretical models to reflect the market behavior in the real-world economy. From the value creation perspective, this paper attempts to clarify the concepts of price and value of a commodity in the market. These concepts are the base to define market equilibrium that includes production equilibrium and consumption equilibrium. In addition, the market supply is identified from the relation between rational choice and market equilibrium, in which the market supply depends on both marginal cost and market demand. The extension of market equilibrium along with the interdependence of supply and demand is the crucial foundation to the theory of market equilibrium. Since endogeneity and exogeneity are considered in the market equilibrium model, the paper provides a testable theoretical framework for empirical researches on market behavior.

7. Public Economics

   1. Frontmatter

   2. The Mapping of the Migration Areas in Greece: An Analysis of the Policies of the Socio-integration and Criminality According to Chicago Mapping

      Maria Vlachadi, Georgia Koufioti, Athanasios Kounios

      Abstract

      The purpose of this research is to map the effect of migration flows and crime on the monitoring of crime in Greece and, in general, its capital, Athens. From a political economy perspective, one version of the study of the phenomenon of the settlement of migration flows and the theoretical understanding of its causes and significance in the modern age can also be considered. Specifically, there is a growing demand for specific types of employment and a flexible, unprotected, and low-cost workforce. Undocumented immigrants are typically clustered in regions, sectors, and markets where the availability of cheap and versatile labor is growing and which tend to avoid regulation and oversight: in global major cities and rural areas, in areas such as manufacturing, tourism, small businesses, and households. Large urban centers, for instance, not only provide anonymity but provide a variety of opportunities for employment in emerging unofficial sectors. Moreover, in times of economic crisis and galloping unemployment, irregular migration is associated with real or alleged criminality.

   3. Key Factors for Adapting the Public Procurement System in Poland to the Industry 4.0 Concept

      Borowiec Arkadiusz, Wyrwicka Magdalena

      Abstract

      The aim of the article is an attempt to indicate the most important controllable factors from the point of view of decision-makers regarding the adaptation of the public procurement system to the concept of economic policy consisting in the implementation of technological solutions of Industry 4.0. In the first stage of research, the Delphi method was used to identify and create a database of potential factors, using ten experts. To identify the key factors in adapting the public procurement system to the concept of Industry 4.0, the network thinking methodology was used, involving 15 specialists from the world of science and business practice. The time range of the research covers the period May to June 2019. The results of the research conducted in the article indicate, among others, systemic factors such as the wider electronicization of the public procurement system and the improvement of statutory solutions to increase innovation. They also indicate factors related to such important aspects of adaptation as the competences and qualifications of the staff responsible for conducting public tenders.

8. Regional Studies

   1. Frontmatter

   2. SME Development in the Visegrad Area

      Mária Srebalová, František Vojtech

      Abstract

      The aim of this paper is to analyze the development of small- and medium-sized enterprises (SMEs) and identify correlation between selected indicators and value added of SMEs in Visegrad Group (V4). The analysis of the development of small- and medium-sized enterprises of the V4 is dedicated through three indicators, namely, the number of enterprises, the number of employees, and their value added. The object of our research is the V4 which is a grouping of four states located in the center of Europe and SME environmental possibilities and functional properties for development and innovation potential. From our perspective of view, the model of correlation is one of the main meaningful analyses of SME development in the region, for this our main methodology is the usage of mathematical model of correlation for data set of information obtained from European Commission statistics reports for V4 countries. Based on our research, value added of SMEs in V4 increased in all business categories since 2010. The largest increase is seen in small businesses, which improved by almost 24%. Together, medium-sized enterprises created a 19% higher value added. Micro-businesses have improved by 7% over 8 years.

   3. Setting Directions for Global Policies in Migration Through Meta-analysis Theory Procedure

      Maria Vlachadi, Georgia Koufioti, Athanasios Kounios

      Abstract

      All the global policies should take into consideration the phenomenon of the push-pull factors in order to achieve the highest level of qualitative and quantitative policies, i.e., economic acceptance and healthcare policies of the immigrants. Policies need to be based on and take into account new approaches to cosmopolitanism, hybridity, and diffusion, in order to be able to cope adequately with new globalized and heterogeneous migration flows following, studying, and presenting the main objective of the meta-analysis theory procedure of this abstract. The allocation of immigration policies by central authorities can take place at different rates in different societies, depending on the level of economic and social development, but also on the prevalence of migration flows, notably in the Mediterranean countries with the highest migration rates. It is relatively common for managerial and control policies criticizing immigration representations of individual assimilation as representative of discriminatory bans on social and racial classes and quotas on other anti-policies, while at the same time promoting and reinforcing racist theories.