Eurasian Business and Economics Perspectives
Proceedings of the 32nd Eurasia Business and Economics Society Conference
- 2021
- Book
- Editors
- Prof. Dr. Mehmet Huseyin Bilgin
- Hakan Danis
- Assist. Prof. Ender Demir
- Conrado Diego García-Gómez
- Book Series
- Eurasian Studies in Business and Economics
- Publisher
- Springer International Publishing
About this book
This book presents selected papers from the 32nd Eurasia Business and Economics Society (EBES) Conference - Istanbul. Due to the COVID-19 restrictions, the conference presentation mode has been switched to “online/virtual presentation only”. The theoretical and empirical papers gathered here cover diverse areas of business, economics and finance in various geographic regions, including not only topics from HR, management, finance, marketing but also contributions on public economics, political economy and regional studies.
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Table of Contents
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Frontmatter
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Eurasian Business Perspectives: Education
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Validity and Reliability of the Flipped Learning Scale
Osman Yildirim, Liubov Smoliar, Olha Ilyash, Dariia DoroshkevychThe chapter delves into the concept of flipped learning, a teaching method that reverses traditional classroom activities by having students engage with course materials before class. It discusses the increasing adoption of flipped learning in higher education and business training, driven by digitalization and the need for effective learning environments. The chapter presents a study on the validity and reliability of the Flipped Learning Scale, a tool used to measure the effectiveness of this teaching method. The study involved a questionnaire administered to 500 undergraduate students in health-related fields, with a focus on assessing the scale's language validity, time validity, and internal consistency. The results indicate high reliability and validity for the scale, making it a valuable tool for evaluating flipped learning implementations. The chapter also highlights the potential benefits of flipped learning, such as increased student achievement and motivation, as well as the challenges and responsibilities it poses for both teachers and students.AI Generated
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AbstractDigital transformation requires restructuring in all areas of life and getting used to the new normal. Education is also greatly affected by digital transformation. In higher education, while learning and teaching styles change, educational environments also change according to the requirements of digital transformation. Flipped learning is becoming increasingly important from lifelong learning to university education. Therefore, a scale validity and reliability study on flipped learning are aimed at the study. In order to achieve this purpose, linguistic validity, time validity, and pilot application are performed with the survey items. The research survey is conducted on 500 participants by the easy sampling method. Based on research findings, the 4-factor structure of the flipped learning scale is confirmed since the test values and fit index values (GFI, CFI, SRMR, RMSEA) of the research model are within acceptable limits. In higher education, E-Learning applications are increasing in parallel with digitalization. In particular, new applications (robots, internet of things, augmented reality, etc.) that come with Industry 4.0 included not only theoretical courses but also laboratory applications within the scope of E-Learning. This research aimed to draw the interests and attention of educators and education professionals to the ways of evaluating virtual learning environments and styles. -
Developing Financial Efficiency Index for Higher Education Institutions
Jekaterina Kuzmina, Andris Natrins, Anda Ziemele, Ennata KivrinaThis chapter delves into the necessity of modern tools and methods for managing higher education institutions, particularly focusing on financial efficiency. It discusses the evolution of higher education from a non-competitive to a market-based system and the need for performance management techniques. The authors introduce a Financial Efficiency Index (FEI) for higher education institutions, highlighting its importance in strategic planning and sustainability. The methodology, based on ratio analysis, includes primary reserve ratio, viability ratio, return on net assets, and net operating revenues. The chapter also proposes a performance management system and discusses the weighting of financial ratios, offering a practical tool for higher education institutions to evaluate and improve their financial health.AI Generated
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AbstractThe decision-making process, as well as general management of the higher education institution, is nowadays becoming more and more complex and complicated; therefore, management of the higher education institution requires modern tools and methods to ensure sustainable development of the organization and to meet different shareholders’ interests and necessities. The objective of the current paper is to cover the existing gap and to provide the management of the higher education institution in Latvia with an acceptable financial efficiency measurement tool—financial health index—useful in the process of setting the institution’s strategic goals, developing and implementing strategies, as well as performance measurement. The authors are using the methodology of ratio analysis in higher education in Latvia. To solve the weight determination problem, the authors apply findings described. The major advantage of the “new” index is its clear weightings based on the simulation and not one’s opinion. So that the kind of approach would lead to the usage of the reliable tool, allowing comparison between different organizations and determination of best practice approach.
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Eurasian Business Perspectives: Human Resources Management
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Employee Commitment in Relationship to Organizational Culture: The Case of Lithuanian Companies
Sonata Staniulienė, Evelina GavėnaitėThis chapter delves into the critical relationship between employee commitment and organizational culture, focusing on Lithuanian companies. It begins by emphasizing the importance of employee commitment in today's competitive business environment and explores the various dimensions of commitment, including affective, continuance, and normative. The study then introduces the concept of organizational culture, discussing its components and the Competing Values Framework. The chapter highlights the distinct characteristics of clan, adhocracy, market, and hierarchy cultures and their potential influences on employee commitment. Through a quantitative survey, the research hypotheses are tested, revealing intriguing insights into how different cultural types affect commitment levels. The findings offer valuable perspectives for human resource professionals and organizational leaders seeking to enhance employee engagement and retention.AI Generated
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AbstractThe study examines the literature on affective, continuance, and normative forms of employee commitment in relation to clan, adhocracy, market, and hierarchy types of organizational culture, according to Competing Values Framework. The assumptions of how employee commitment develops in different organizational cultures because of their unique characteristics are drawn. The quantitative research was conducted to reveal the level and the prevailing forms of employee commitment to Lithuanian companies, as well as existing and preferred types of organizational culture, employees are willing to be committed. The results show the insufficient level of employees’ commitment to Lithuanian companies and high discrepancies among existing and preferred organizational culture types. Organizations seeking to increase employee commitment are offered to move to the preferred clan type of organizational culture, which would lead to enhancing of affective and normative commitment instead of prevailing market and hierarchy types, because market and hierarchy cultural types generate a low level of employees’ commitment according to this research results. To implement the change, the model of improving the organizational culture to increase employee commitment is offered to implement in the companies. The form of continuance commitment was found having the weakest relations with all types of organizational culture, therefore the further research of its variables is offered. -
The Mediating Role of Emotional Stability between Regulation of Emotion and Overwork
Ajtene Avdullahi, Osman YildirimThis chapter delves into the pivotal role of emotional stability in mediating the relationship between emotion regulation and overwork, highlighting its critical impact on organizational goals and employee well-being. By examining the interplay of emotional stability, regulation of emotion, and overwork, the study offers a comprehensive analysis of how these factors influence employee morale and overall organizational success. The research employs a unique methodological approach, utilizing structural equation modeling to uncover the mediating effects of emotional stability. The findings provide valuable insights into the mechanisms through which emotional stability can mitigate the negative effects of overwork and enhance employee performance. This work is particularly noteworthy for its innovative exploration of emotional stability as a mediating factor, offering practical implications for managers and organizational leaders seeking to optimize employee well-being and organizational effectiveness.AI Generated
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AbstractIn today’s industrial working environment, too many responsibilities of employees have forced them to extend their working hours and thus affect their individual mood. Having to work overtime may cause individuals to gradually engage in workaholic work. Excessive work obligation or habit can disrupt the emotional balance of the individuals or make it difficult for them to regulate their emotional state. From another point of view, the emotional balance of individuals in industrial life is considered an important skill. This research aims to explore the mediating role of emotional stability between emotion regulation and overwork. The research data were collected by applying a questionnaire with the convenience sampling method with 320 participants from the health sector. All participants work in health institutions in Istanbul and voluntarily agreed to participate in the survey. A research questionnaire was structured by using the expressions of overwork, emotional balance, and regulation of emotions scales from the literature. The results regarding the relationship between emotion regulation and overwork show that the emotional stability of individuals has an important effect. With the findings of the research model established with the research hypotheses, it was aimed to draw the attention of the researchers to overwork as a concerning issue that may affect the emotional state of the individuals.
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Eurasian Business Perspectives: Management
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Offshore Outsourcing in Fast Fashion Companies: A Dual Strategy of Global and Local Sourcing?
Elisa ArrigoThe chapter delves into the manufacturing outsourcing strategies of fast fashion companies, emphasizing the dual strategy of global and local sourcing. It examines the sourcing practices of Inditex and H&M, two leading fast fashion companies, to understand their approaches to supply chain management. The study reveals how these companies balance the need for cost efficiency with the requirement for quick response to market demands. It also highlights the growing importance of sustainability in sourcing strategies and the managerial implications for apparel managers outsourcing manufacturing in emerging countries.AI Generated
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AbstractPrevious academic research highlighted that cost and time represent key factors to consider in fast fashion manufacturing outsourcing decisions. In fact, fast fashion companies were proven to combine local and global sourcing to reduce their manufacturing cost and be able to rapidly meet customer needs. However, in the last years, fast fashion companies have often been criticized for adopting irresponsible behaviors in their offshore sourcing activities. Therefore, the purpose of this study is to explore the sourcing strategies of fast fashion companies in order to understand whether a dual strategy of global and local sourcing is still followed and whether new additional factors may have recently influenced their outsourcing strategies. By adopting a qualitative research methodology, a multiple case study of fast fashion companies was carried out. The findings revealed that fast fashion companies do not perform constantly a dual sourcing strategy and, despite cost and time still represent key factors characterizing their manufacturing outsourcing, also social and environmental sustainability aspects appear to be currently assessed by companies to achieve a strategic sourcing orientation. -
Possibilities of Trading Behavior Assessment by TBQ-T Methodology
Róbert Štefko, Zuzana Birknerová, Lucia Zbihlejová, Jana KovaľováThe chapter delves into the multifaceted nature of trading behavior, highlighting three key attributes: proactive, manipulative, and distressed behaviors. It introduces the TBQ-T methodology, a novel approach that consolidates existing studies on these behaviors. The methodology is validated through factor analysis, revealing statistically significant differences in traders' self-assessments. Proactive behavior, characterized by commitment and assertiveness, is found to be most highly regarded, while distressed behavior is the least. The chapter also discusses the implications of these findings for both traders and the broader business environment, emphasizing the importance of ethical and proactive behavior in achieving business success.AI Generated
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AbstractThe methodological concept of trading behavior, as an important part of business effectiveness, is based on an assumption that assessment of its construct has a multidimensional structure. The objective of the presented research, which included the participation of 110 traders, was to identify and specify the trading behavior assessment factors. The paper presents the results of the factor analysis of the self-report methodology labeled as TBQ-T (Trading Behavior Questionnaire—Traders). Principal Component Analysis with Varimax Rotation enabled the extraction of three factors: Proactive Behavior of Trader, Manipulative Behavior of Trader, and Distressed Behavior of Trader. Meaningfulness of the extracted factors was supported by the Cronbach’s alpha values. Assessment of the extracted TBQ-T factors by traders did not confirm the existence of statistically significant correlations, but confirmed the existence of statistically significant differences, with the highest degree of agreement expressed by the respondents in the factor of Proactive Behavior of Trader, the lowest one in the factor of Distressed Behavior of Trader. Based on the acquired analysis results it is possible to consider the use of the TBQ-T methodology as meaningful. Limiting factors of this research include the issue of generalization level of the acquired knowledge, its trans-situationality, the context of cultural and transcultural conditions in terms of how the cultural schemas affect the assessment of the trading behavior forms, and using the self-report methodologies to study this particular phenomenon.
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Eurasian Business Perspectives: Marketing
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Luxury Goods and the Country-of-Origin-Effect: A Literature Review and Co-citation Analysis
Katharina StolzThe chapter delves into the country-of-origin effect (COE) and its impact on the luxury goods industry, highlighting how consumers' perceptions and buying decisions are influenced by a product's origin. It provides a thorough literature review and co-citation analysis, revealing that the COE significantly affects brand awareness, perceived quality, and consumer loyalty. The study also identifies key industries and products that are most receptive to the COE, such as luxury watches and high-end fashion, and discusses the varying relevance of different origin-related factors. Additionally, it underscores the importance of signaling theory in understanding how consumers use origin information to evaluate products, making this chapter a valuable resource for professionals seeking to leverage the COE in their marketing strategies.AI Generated
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AbstractThe paper advances the research in the field of the country-of-origin-effect (COE) by adding a systematic and comprehensive overview of the COE in the field of luxury products across various industries. The literature review analyzes 34 articles in-depth and strengthens the COE, as in twenty studies an effect was observed. All in all, the literature review shows that consumers appreciate information about the CO and take it into account in their decision-making and product evaluation process. Still, the analysis also emphasizes the varying importance of the COE in relation to different industries, in particular the accessories, automotive, fashion, and food industries. An effect was most often reported when investigating accessories like luxury watches. Furthermore, the review confirms the wide variety of defining a luxury product, which is also reflected on the major differences regarding the selected stimulus material used in the analyzed studies. Nevertheless, none of the analyzed studies investigated product innovations, but rather focused on well-established items. In addition, a citation and co-citation analysis was performed showing a weakly connected citation network based on the network density. The analysis of the citation network further revealed one dominant authorship. -
Management Model and Dynamic Capabilities: Approaches to Knowledge-Intensive Business Services in Emerging Economies
Oscar Mauricio Cruz-Sanchez, Diana Geraldine Jimenez Garcia, Oscar Fernando Castellanos DomínguezThe chapter delves into the significance of Knowledge-Intensive Business Services (KIBS) in economic growth and their role as a leverage for other organizations. It highlights the gaps in research on KIBS operations and the relevance of dynamic capabilities in managing these services. The text proposes a framework for enhancing the management model of KIBS, focusing on dynamic capabilities such as sensing, seizing, and transforming opportunities. It also provides actionable insights for firms in emerging Latin American economies, emphasizing the importance of human resources, organizational culture, and strategic orientation in driving innovation. The research is based on a qualitative descriptive methodology, gathering successful experiences from developed and emerging economies to propose tailored strategies for Latin American countries.AI Generated
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AbstractCountries with emerging economies such as Mexico, Argentina, Chile, and Colombia are lagging behind China, India, and others in Knowledge-Intensive Business Services (KIBS), due to their organizational inertia to sense and seize new market opportunities and achieve new and innovative ways of competitive advantage. The objective of this paper is to analyze the dynamic capabilities needed to enhance the management model in KIBS in emerging economies context. The study is carried out by gathering and reviewing successful experiences extracted from the literature on management models for KIBS in developed countries, leading emerging economies, and Latin American countries. As a result, the relevance of this type of service is established in some of the most developed economies, as well as the capabilities that have been strengthened in leading emerging countries, such as China and India, to finally propose the actions that Latin American countries can undertake. Main results show the need to embed absorptive cutting-edge knowledge capabilities in KIBS organizations, to consolidate, reinforce, and innovate in processes reflected in competitive services.
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Eurasian Economic Perspectives: Banking and Finance
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Empirical Modeling of International Banks’ Credit Risk: Assessment and Comparison of Credit Ratings
Alexander M. Karminsky, Ella P. Khromova, Roman A. KudrovThe chapter delves into the critical assessment of international banks' credit risk, highlighting the importance of credit ratings in financial stability. It compares ratings from major agencies and identifies key factors influencing banks' financial sustainability. By constructing an ordered logit model, the authors provide a robust framework for predicting credit risk, making it a valuable resource for financial professionals seeking to understand and manage risk in the banking sector.AI Generated
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AbstractThe work is devoted to credit risk modeling of international banks by constructing ordered logistic models of credit ratings assigned by the agencies: Moody’s, Standard & Poor’s, and Fitch ratings. It was demonstrated that mapping the credit ratings into a base scale helps to decrease the possible subjectivity of CRAs and increases models’ forecasting power. Using a random sample of 478 banks from more than 40 countries for the period of 2007–2019, a credit rating model was obtained that could be effectively used to assess credit risk using public information, which was demonstrated with a help of out-of-sample forecasts of the obtained regression. The quality of the model prediction was significantly improved by including interaction terms and applying the Principal Component Analysis. We observed that the transparent politics of the government can lead to increased credit ratings of international banks. This helps them in credit risk management and in the client’s base extension. Additionally, using marginal effects calculation, the empirical evidence of the importance of maintaining a high level of liquidity by banks in times of crisis was found. At the same time, the highest marginal effects of the whole sample time horizon were reached in factors of asset quality and bank’s size among all financial indicators included in the model. -
How and why Does the Disclosure of Edgar Filings Differ Among US-Listed Firms? An Empirical Investigation
Michael DimmerThe chapter explores the disclosure behavior of US-listed firms in EDGAR filings, focusing on the impact of financial performance. It uses a dataset of over 1.7 million filings from 2010 to 2018, categorizing them into six groups. The study finds significant differences in the frequency and types of filings between firms with positive and negative financial performance. Key findings include that firms with better financial performance have more insider trading activities, while those with poor performance have more non-timely and amendment filings. The chapter employs advanced statistical methods, such as the Mann-Whitney U-test, to validate these findings and conducts robustness checks. It concludes by highlighting the importance of understanding the interdependencies between different types of filings and the need for further research into the content and timing of these filings.AI Generated
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AbstractThis empirical investigation aims to examine whether the disclosing behavior of companies listed in the United States differs depending on their financial performance. The results are based on a sample of 1,726,654 filings from 3440 companies submitted in the EDGAR database of the SEC between 2010 and 2018. The sample is divided into two groups using accounting variables and market data as separating features. The financial reports are also categorized. The analyses focus on filings of the categories insider trading, non-timely filings, and amendments. A Mann-Whitney U-test is used to test the difference between the reporting behavior of companies and their financial performance. The results show that there is a statistically highly significant difference, which thus explains the dependence of the submission behavior and the financial performance of companies. The trend stays robust to adjustments to the research design. The outcomes demonstrate how important the interaction between filings is. In addition to analyzing the content of an individual filing of a company, the findings suggest that the frequency and type of filings of a company also needs to be considered. Consequently, future research should increasingly analyze the interaction of the individual submissions.
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Eurasian Economic Perspectives: Behavioral Finance
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The Effect of Personality Traits on Credit Score Using Myers-Briggs Type Indicator (MBTI) Personality Types
Adnan Veysel Ertemel, Gökhan ÇaylakThis chapter delves into the impact of personality traits on credit scores, focusing on the Myers-Briggs Type Indicator (MBTI) model. It begins by introducing the concept of personality traits and their influence on credit scoring, highlighting the gap in literature regarding the use of MBTI in this context. The study then outlines the research model and hypotheses, aiming to identify specific MBTI dimensions that correlate with credit scores. The methodology, including sampling procedures and data collection methods, is detailed, followed by the analysis results. The chapter concludes by discussing the implications of the findings for both future research and practical managerial applications, making it a valuable resource for professionals interested in the intersection of personality psychology and financial risk assessment.AI Generated
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AbstractCredit scoring plays an increasingly important role in our lives. This is true even in various nonfinancial contexts including but not limited to marketing and human resources. This study adopts the notion that one’s credit score could be affected by his/her personal characteristics. Therefore, this study investigates the relationship between personality traits and credit score. The study is significant in that, contrary to the extant literature on the subject that uses the well-known Big Five model, it uses the Myers-Briggs Type Indicator (MBTI), which is shorter and more practical for commercial uses. A quantitative study was carried out and a survey was administered on 181 valid respondents. The results demonstrate that sensing and judging dimensions positively correlate with the credit score. As Conscientiousness dimension in Big Five overlaps with MBTI sensing and judging dimensions, and the findings partly conform to the former studies that use the Big Five model. The results obtained have important managerial implications. -
Insider Trading and Stock Market Behavior: Evidence from Romania
Ruxandra TrifanThe chapter delves into the phenomenon of insider trading and its influence on stock market dynamics, with a specific focus on Romania. It examines the informational advantage that insiders possess and how their trades impact stock prices. The study employs an event study approach to analyze the abnormal returns generated by insider trades, particularly those of management, over a 41-day event window. The findings reveal that insider trades, especially those of CEOs, can significantly influence stock prices, indicating the presence of valuable information. The chapter also highlights the differences in trading behavior among various management roles and the market's reaction to these trades. This detailed analysis offers a unique perspective on insider trading in an emerging market and provides valuable insights for both researchers and investors.AI Generated
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AbstractThe aim of this study is to determine the market reaction to insider trades on the Romanian stock market for the January 2017–December 2019′ time horizon. The focus is on individual insider trades, especially on management trades, directors having access to private as well as to price-sensitive information, therefore having an advantage over other investors when they trade their company’s shares. Using an event study approach, abnormal returns are determined on a 41 days’ window. We check for any evidence on inside information known prior to the disclosure of insider trades and analyze the market response to the information quality of the event, respectively, the stock price behavior around the event. Empirical results suggest that these insiders reveal some significant pieces of information to the market through both their acquisitions and sales of shares. Abnormal returns are registered prior to the event date, especially in the case of CEOs, supporting our belief that this category of insiders possesses superior information. Significant abnormal returns are also obtained in the 20 days’ window following the event date. Results are significant from a statistical point of view and in line with correspondent work of other researchers on different stock markets.
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Eurasian Economic Perspectives: Economics of Innovation
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The Rebound Effect in Industry 4.0: Circumstances and Consequences
Giani Gradinaru, Gheorghe Zaman, Iulia NeagoeThe chapter delves into the rebound effect, a concept first introduced in 1865, within the context of Industry 4.0. It traces the evolution of industrial revolutions, highlighting how the emergence of Industry 4.0, characterized by smart factories and interconnected systems, has significantly impacted energy consumption and efficiency. The text explores the paradoxical increase in energy use despite technological advancements, known as the Jevons paradox, and its implications for global warming. It also discusses the direct and indirect rebound effects, providing examples such as hybrid cars and refrigeration, and their impact on both individual behavior and macroeconomic growth. The chapter concludes by proposing strategies to mitigate the rebound effect, such as increasing renewable energy use and reducing overall energy consumption, emphasizing the need for a global mobilization to control this phenomenon effectively.AI Generated
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AbstractThe chapter aims to present the consequences of using technology in inappropriate ways and to provide an overview of rational consumption. The motivation comes from understanding the phenomenon of rebound effect and from the desire to highlight the potential of technology when used carefully. Following the analysis of the literature, we present a concept that appeared in 1865, the one referring to the rebound effect, in a new economic-social context, the one generated by the appearance and development of industry 4.0. The chapter offers a paradigm shift in approaching the rebound effect, moving from the sphere of coal consumption to new types of fuels, much more efficient but which, precisely for this reason, can cause a much stronger rebound than the one recorded so far. Sustainable economic development facilitates the substitution of energy sources used in production processes. From the perspectives of diminishing the rebound effect as well as from the one of substituting the energy sources, in the last part of the chapter solutions are identified from the perspective of rebound effect versus global warming. -
Model for Development of Innovative ICT Products at High-Growth Potential Startups
Didzis Rutitis, Tatjana VolkovaThis chapter introduces a conceptual model for the development of innovative ICT products at high-growth potential startups, highlighting the crucial role of the ICT sector in Latvia's economy. It reviews existing product development frameworks, such as the BAH model and Agile methodologies, and integrates these with open innovation principles. The proposed model, validated through a real-life startup acceleration program, outlines four stages of product development from problem discovery to business process management. It emphasizes the use of innovation tools like idea banks, design thinking, and corporate venture funds, tailored to different stages of product innovation readiness. The chapter concludes by stressing the importance of iterative validation of business models and the unique blend of innovation tools each startup must maintain.AI Generated
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AbstractProduct development teams at ICT companies are using various innovation tools (e.g., Business Model Canvas, Lean Startup) and management methodologies (e.g., Lean Startup, Kaizen). The aim of this chapter is to align selection of innovation tools with company growth in subsequent stages of product development before and during commercialization stage. This chapter introduces a conceptual framework to be applied for creation of new ICT products by technology startups. This model describes the ICT product development path and availability of methods taking into account the product development stages. The choice of the tools and methods for development of innovative ICT products is found to be also correlated with the product IRL (innovation readiness level), choice of the growth financing (self-financing vs. venture money), and internal environment factors. The main findings of the research related to the validation of the proposed model for ICT product development by a number of emerging university spin-offs. The novelty of the research is related to introduction of relationship between currently available product development (innovation) tools and managerial processes, and the product development cycle. -
Fostering Open Innovation by Linking Entrepreneurial Leadership and Knowledge Management: An Empirical Study in the Tunisian Context
Samah Chemli Horchani, Mahmoud ZouaouiThis chapter delves into the intricate relationship between entrepreneurial leadership, knowledge management, and open innovation. It begins by setting the stage with an uncertain economic environment shaped by technological complexity and the rise of Generations Y and Z, who are more optimistic and risk-taking. The author introduces the concept of entrepreneurial leadership, emphasizing its role in driving innovation within organizations. The study presents a framework that explains how entrepreneurial leadership works within companies, highlighting the importance of knowledge management at individual, organizational, and social levels. A qualitative study conducted in Tunisian small and medium-sized enterprises provides empirical evidence to support the hypotheses that entrepreneurial leadership positively influences knowledge management and open innovation. The findings suggest that entrepreneurial leaders foster a culture of trust and cooperation, which in turn drives innovation. The chapter concludes by emphasizing the need for effective knowledge management tools to promote open innovation and encourages further quantitative research in this area.AI Generated
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AbstractEntrepreneurial leadership is universally recognized and there are divergences in its effectiveness, which suggests several promising areas of inquiry. The success of this leadership style depends on interrelations between leaders, followers, and the knowledge context. This study offers an interpretative reading of entrepreneurship and leadership theories to describe an innovative approach. It investigates the link between entrepreneurial leadership and open innovation considering the knowledge management importance. A new conceptual model is proposed through a thorough review of the literature. A qualitative research method was used. Five in-depth case studies were conducted. Data was collected from small and medium-sized enterprises belonging to the Tunisian industrial sector. The findings of this study show that entrepreneurial leadership affects open innovation through knowledge management. Moreover, the results show that entrepreneurial leaders encounter difficulties in the use of knowledge into open innovation. In addition, the results reveal the contextual specificities of the Tunisian entrepreneurial leadership. This work would be an opportunity for practitioners allowing them to discover the mechanisms and processes ensuring the maintenance of entrepreneurial intensity in an innovative company but also, opening the door to action when this intensity presents deficiencies.
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Eurasian Economic Perspectives: Regional Studies
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Conceptual Framework for Attracting Foreign Patients to Health Care Services
Daiga Behmane, Didzis Rutitis, Anda BatragaThe chapter delves into the evolving health care market, highlighting the shift towards a consumer-driven model where patients are well-informed and actively involved in choosing services. It discusses the challenges and barriers in the health sector, such as information asymmetry and monopolies, and the need for a patient-centered care approach. The authors present a conceptual framework for attracting foreign patients, emphasizing the importance of marketing and communication strategies at micro, mezzo, and macro levels. They also discuss the role of patient experience and satisfaction in this framework, proposing a multi-level factor approach to assess these elements. The chapter offers valuable insights into the factors influencing patient acquisition in cross-border health care and provides a comprehensive model for health care providers to attract foreign patients effectively.AI Generated
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AbstractGiven the global nature of health services and increasing competition between regions and health care providers, the aim of the study is to develop a theoretical framework and conceptual model for attracting foreign patients to the health care services. In this study, the authors have summarized the results of their previous empirical research based on integrative literature review to develop a comprehensive understanding of the dimensions and factors characterizing the phenomenon of international competitiveness of health care services. The theoretical study results were validated in expert interviews and applied research studies and the applicability of the developed model was tested in the study of experience and satisfaction of foreign patients with the health care services in Latvia. The authors proposed framework and model is based on the system of factors including five dimensions of acquisition and attributed to micro, mezzo, and macro levels. The study confirms and highlights the need for a person and patient-centered care approach in the context of cross-border health care, the importance of international requirements for ensuring service quality and patients’ rights, reinforced by general travel factors, destination marketing, health service-specific communication tools, and choice determinants. -
Selected Aspects of Nature Conservation Management at Local Level on the Example of Communes in Poland
Jacek WitkowskiThe chapter delves into the crucial role of local governments in nature conservation management, with a focus on communes in Poland. It discusses the legal framework and instruments available to local authorities for protecting natural values and complying with environmental regulations. The study highlights the importance of spatial planning, fiscal instruments, and the creation of legally protected areas in ensuring effective nature conservation. It also identifies gaps and areas for improvement in the current practices of local governments, offering valuable insights into the challenges and opportunities in this domain. The research is based on a diagnostic survey of mayors from communes in the Lubelskie Voivodeship, providing a comprehensive and detailed analysis of the current state of nature conservation management at the local level in Poland.AI Generated
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AbstractThe purpose of the present chapter is to characterize the impact of the lowest level self-government in Poland on the protection and environmentally friendly use of local natural values by means of some available management instruments. The research sample consists of a group of mayors performing management functions in 49 communes, i.e. administrative units characterized by the smallest territory in Poland. The research method is a diagnostic survey based on a questionnaire containing 34 closed questions, as well as an additional analysis of selected statistical data concerning the municipalities covered by the study. The survey shows that some local governments still base their activities on planning documents, which have been adopted before the entry into force of currently applicable regulations in the scope of nature protection and before the end of the process of creation of the areas of Natura 2000. Not all local development plans wholly encompass the surface of the areas subjected to protective regimes, which may pose a risk of their insufficient protection. The fiscal instruments and the legal administrative tool in the form of right to place selected areas and objects under legal protection are marginally used by local authorities. -
The Effects of COVID-19 Crisis on the Southern Italian Labor Market: Employment Elasticity Estimation Approach
Salvatore Perri, Gustavo Di SantoThe chapter investigates the effects of the COVID-19 crisis on the Southern Italian labor market by employing an employment elasticity estimation approach. It highlights the significant regional disparities within Italy, particularly between the North and the South, and how these disparities impact the labor market's response to economic shocks. The study uses employment elasticity to measure the relationship between GDP growth and employment changes, revealing that the South is disproportionately affected by economic downturns. The analysis suggests that the COVID-19 crisis could lead to a substantial drop in employment in the South, exacerbating existing inequalities. The chapter concludes by proposing policy reforms aimed at increasing aggregate demand and supporting the growth of firms in the South, emphasizing the need for a shift in economic policy paradigms to address the persistent challenges faced by the Southern Italian economy.AI Generated
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AbstractThe falling in production and income due to the COVID-19 pandemic will cause a wide impact on employment. The outcome will depend on the reactivity of the labor market to economic shocks. Specifically, in this work, we propose an analysis to estimate the impact of the COVID-19 crisis on the employment level in the Italian macro-regions: North-West, North-East, Centre, and Mezzogiorno. Using the employment elasticity indicator for the 2015–2019 period, we can observe that the elasticity of employment is greater in the Mezzogiorno in respect to other areas. This result suggests that the job loss in Mezzogiorno will be proportionally higher even if the reduction in income will be lower. The data showed that in southern Italy, the newly unemployed could be a number between 405,000 to more than half a million. Indeed, the estimation of employment elasticity of GDP suggests that the COVID-19 crisis could determine a decline in the occupation rate in the South of 0.83 for each point of GDP loss, which has no comparison with the other Italian regions. These results, due to the particular structure of the southern economy—characterized by low aggregate demand and small dimensions of firms—suggest necessary changes in economic paradigms with respect to the neoclassical approach adopted in the past 20 years. Demand-driven policies, such as basic income and labor redistribution, could avoid or mitigate the socioeconomic tragedy caused by the COVID-19 crisis. -
Risk Analysis and How to Select the Option for Adapting and Mitigating Changes Climate: An Instrument for Planning Climate Change Measures
Robert Adrian Candoi Savu, Liviu Adrian StoicaThe chapter delves into the critical process of risk analysis and the selection of measures to adapt and mitigate climate change. It emphasizes the need for transparent decision-making processes and cost-effective measures. The authors propose a mathematical approach to quantify risks associated with climate change measures, ensuring a pragmatic and transparent selection process. The chapter also highlights the importance of integrating mitigation and adaptation strategies, drawing on case studies and integrated assessment models to provide a holistic view of climate change planning. The unique aspect of this chapter is its focus on a mathematical risk evaluation method, which helps in making informed decisions and reducing the overall risks and costs associated with climate change measures.AI Generated
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AbstractThis chapter is an indicator for drafting the proposed mathematical approach of the Climate Change (CC) Action Plan. The CC action plan must be based on the consolidation and coordination of both mitigation and adaptation measures or options. Selection of recommended measures constitutes a significant phase in drafting such a plan. This selection involves the involvement of competent authorities in key sectors, including transport, energy, urban, water, agriculture, and forestry. The selection process must be transparent, pragmatic, and safe operation. The different categories of measures need to be discovered and analyzed in the circumstance of the associated risks and benefits. The selection and appreciation of measures are crucial for the success of CC policies and yet the process is time consuming and quite expensive. The chapter proposes a mathematical risk equation, developed for the scope of reducing the value of the risks identified by evaluating all the vulnerabilities and threats that CC proposes and quantify them in points of measurement to can unify all their types as one final result. Based on the result score, there can be made adjustments or improvements in the risk decision making as lowering the costs of investments in technology or reducing the eventual losses caused by the risks. -
Financial Inclusion and Welfare: New Evidence on the Role of Government
Talnan Aboulaye ToureThis chapter delves into the relationship between financial inclusion and welfare, emphasizing the pivotal role of government in promoting access to financial services. It begins by defining financial inclusion and highlighting the barriers that hinder access, such as lack of trust, illiteracy, and poor governance. The chapter then explores the significant economic and social benefits of financial inclusion, including improved income opportunities, poverty reduction, and enhanced mental well-being. The core of the analysis is an optimal consumption model that incorporates financial inclusion, measured by owning a basic bank account. The model demonstrates that increased access to financial services stimulates capital stock and consumption, leading to welfare improvements. The chapter uses a comparative study of Ivory Coast, India, and Japan to examine the effects of financial inclusion on economic well-being, providing new insights into the role of government in promoting financial inclusion and its impact on welfare.AI Generated
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AbstractIn this paper, we judge the role of government in promoting financial inclusion, measured through owning a basic bank account, but also examine the effects of this access on economic well-being, in Japan, India, and Ivory Coast. We use an optimal consumption model in competitive economy with government that embeds financial inclusion, which is endogenous. First, we find that financial inclusion leads to a higher equilibrium state. In fact, as financial inclusion increases, from low to high level, the economic equilibrium raises. Besides, a greater access to a bank account crowds out the harmful effects of taxes on the stationary state. Second, we find that, while the economy with high financial inclusion promotes greater welfare, low financial inclusion’s economy yields weaker welfare. Third, financial inclusion boots capital accumulation. This positive impact is greater for Japan, India, and Ivory Coast respectively. Accordingly, government has to play a key role to support financial inclusion. Basically, for the three economies, government can promote financial inclusion, and enhance savings, by making tax incentive schemes or social transfers, and move their payments, including wages, and pensions onto banking system. Particularly, in Ivory Coast, shifting individuals from informal to the formal sector can improve savings.
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- Title
- Eurasian Business and Economics Perspectives
- Editors
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Prof. Dr. Mehmet Huseyin Bilgin
Hakan Danis
Assist. Prof. Ender Demir
Conrado Diego García-Gómez
- Copyright Year
- 2021
- Publisher
- Springer International Publishing
- Electronic ISBN
- 978-3-030-77438-7
- Print ISBN
- 978-3-030-77437-0
- DOI
- https://doi.org/10.1007/978-3-030-77438-7
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