Eurasian Business and Economics Perspectives
Proceedings of the 33rd Eurasia Business and Economics Society Conference
- 2021
- Book
- Editors
- Prof. Dr. Mehmet Huseyin Bilgin
- Hakan Danis
- Ender Demir
- Gokhan Karabulut
- Book Series
- Eurasian Studies in Business and Economics
- Publisher
- Springer International Publishing
About this book
This book presents selected papers from the 33rd Eurasia Business and Economics Society (EBES) Conference, virtually held in Madrid (Spain) due to the Covid-19 pandemic. 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: Human Resources Management
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Frontmatter
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A Qualitative Study of Factors Influencing Employee Ecological Behavior of Academics in Higher Education
Mohd Yusoff Yusliza, Zikri Muhammad, Khalid Farooq, Wan Zulkifli Wan Kassim, Muhamad Khalil OmarThis chapter delves into the critical factors influencing employee ecological behavior (EEB) among academics in higher education institutions. Through a qualitative study, it identifies key environmental factors such as attitude, awareness, knowledge, and consciousness, as well as organizational factors like top management support and green organizational climate. Additionally, it highlights individual factors such as green mindfulness and self-efficacy. The study provides a comprehensive understanding of how these elements collectively shape the sustainable practices of academics, contributing valuable insights for enhancing EEB in higher education and beyond.AI Generated
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AbstractEmployee ecological behavior (EEB) of academics has emerged as the most crucial factor for facilitating universities to move towards being low-carbon campuses. The purpose of this study was to determine how EEB is influenced by other factors so as to enhance academics’ environmentally friendly behavior at Malaysian universities for sustainability. The study used the qualitative method. Data were collected through semi-structured face-to-face interviews with focus group academics of Malaysian top four universities. Based on the themes observed from the interview transcripts, the factors influencing EEB of academics were organizational factors (green top management support and green organizational climate), environmental factors (environmental knowledge, environmental attitude, environmental consciousness, and environmental awareness) and individual factors (green mindfulness and green self-efficacy). The scope of this study was limited to public research universities in Malaysia. Future studies may explore other variables that may further influence EEB. The study’s findings may form the basis for drafting policies that will help enhance academics’ environmentally friendly behavior. Research on EEB in Malaysia has been very limited. This study contributes to the current literature by providing a discussion on how academics’ EEB is influenced by environmental, organizational, and individual factors. High academics’ EEB will facilitate universities to become more sustainable and environmentally friendly. -
Leadership in Various Project Management Methodologies
Hanna Soroka-PotrzebnaThe chapter delves into the crucial role of leadership in project management, emphasizing the dynamic changes in the environment that necessitate continuous development of leadership competencies. It compares various project management methodologies, including PMI, IPMA, Lean, and Scrum, to identify similarities and differences in leadership competencies. The analysis highlights the importance of communication, cooperation, and relationship-building skills across all methodologies. Additionally, it introduces a comprehensive set of leadership competencies that project managers should possess to ensure project success. The chapter concludes with a call for further research into the impact of leadership skills on project outcomes.AI Generated
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AbstractThe aim of this research is to describe the approach to leadership competences in various methodologies. Identifying the similarities and differences between the approach to leadership in different methodologies, as well as highlighting the competences of the leader that are most important in each of them. The data for the research was obtained from the documents of selected, the most recognized associations and project management organizations, which include: Project Management Institute (PMI), International Project Management Association (IPMA), Scrum.org, and The Agile Alliance. The desk research method was used in the work, which enabled the compilation, analysis, and processing of the obtained data, and then formulating conclusions based on them. The findings show that all analyzed methodologies present their own set of competencies of an ideal leader, but communication competences related to building relationships and cooperation with team members turned out to be the most important ones. The comparison of selected methodologies made it possible to show that they are very similar, but not identical. Each methodology adds a unique element to leadership pattern which distinguishes it from the others. All the conclusions obtained constitute useful hints in achieving the goals set by the project managers.
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Eurasian Business Perspectives: Management
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Impact Analysis of Unified Communications on Managers’ Verbal Communication and Organizational Form
Timo N. HeinrichThe study investigates the impact of Unified Communications (UC) on managers' verbal communication time and organizational forms. It finds that despite a decrease in communication time from the 20th century, managers still spend a significant portion of their time on verbal communication. UC has been implemented more in larger, bureaucratic organizations, and the study suggests a transition from bureaucracy to adhocracy is underway. However, the relationship between UC and this transition is not conclusively established. The study recommends further research to identify effective tools and methods to facilitate this organizational change.AI Generated
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AbstractIn this study the verbal communication behavior of managers in Europe and the United States of America, how bureaucratic or adhocratic their work environments were, and their use of Unified Communications (UC) were analyzed. Accounting for over one-third of an organization’s payroll, management is a costly and powerful resource with the scope and ramifications of a manager’s decision, also a competitive factor. The underlying theories were Wittkewitz’s statement that middle-managers spend two-thirds of their time with verbal communication and social software could shift this management task to subordinates. Resulting either in more time for important management tasks, like proactive strategic planning, or be reassigned to more productive work, rendering the middle-management tier surplus. The use of UC might be facilitating a transition to an organizational form that is better suited for the business environment of the twenty-first century, like adhocracy. Because current and future organizations are globally interconnected, UC might have significant effects on the management of virtual teams across diverse cultural locations. Linear regression was used to analyze the data in this non-experimental correlational design. The results showed managers spent, on average, more than 50% of their time with verbal communication, that companies were in the transition from bureaucracy to adhocracy, and supervisors led this transition. -
Overcoming the Traps in the Adaptive Cycle of Resilience Model
Marijn Meijering, Toon Abcouwer, Emőke TakácsThe chapter delves into the Adaptive Cycle of Resilience (ACoR) model, a cyclical framework that helps organizations navigate constant change. It identifies four key traps—lock-in, poverty, isolation, and rigidity—that can impede successful adaptation. The author presents a theoretical framework and practical organizational aspects to overcome these traps, validated through interviews with professionals. The focus is on versatility, creative environment, communication, and organizational culture, making this chapter a valuable resource for professionals seeking to enhance their organization's resilience and adaptability.AI Generated
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AbstractIn our dynamic world, organizations must adjust and respond to constant challenges to survive. The Adaptive Cycle of Resilience model has been found to be a useful tool to support organizations in dealing with change. The model consists of a standard path of four phases. However, in each phase a trap is identified, which can emerge and obstruct the organization while facing a problem. To help organizations when they get stuck, we aim to answer the question: how the four traps in the Adaptive Cycle of Resilience can be overcome? A literature study has resulted in the creation of a management compass, identifying four aspects that an organization should focus on when getting stuck in the development process. These aspects are versatility—taking an ambidextrous approach by exploiting the present and exploring the future simultaneously; creative environment—support, encourage, and reward the creativity of employees; communication—bidirectional and open; and organizational culture—removing worries, doubts, and other uncertainties with respect to change. The initial validation of the compass has yielded positive results, largely confirming that focusing on the identified aspects is indeed needed for overcoming the traps in the Adaptive Cycle of Resilience model. -
Diagnostic Instrument: How to Measure Values Congruence and Management Culture?
Jolita Vveinhardt, Povilas FoktasThe chapter delves into the crucial role of organizational values in shaping culture and employee behavior. It emphasizes the importance of values congruence between employees and organizations, which impacts job satisfaction, productivity, and overall well-being. The chapter introduces a novel diagnostic instrument, the 'Questionnaire of values congruence and management culture (Q-VC-MC)', which integrates two validated questionnaires to assess both personal and organizational values, as well as management culture. The instrument has undergone rigorous psychometric analysis, demonstrating high reliability and validity. The study highlights the strong correlation between values congruence and management culture, making the Q-VC-MC a valuable tool for organizational development and management research. The chapter concludes with a discussion on the instrument's applicability across different cultural contexts and its potential limitations.AI Generated
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AbstractThe main purpose was after adapting Q-POVC and Q-MC-CSR questionnaires, to form the diagnostic instrument “Questionnaire of values congruence and management culture (Q-VC-MC)”, testing it in a relatively small sample. The formation and adaptation of the questionnaire consisted of the following stages: analysis of scientific sources; analysis of the already existing instruments, merging of selected instruments; exploratory research using the adapted instrument; psychometric analysis of the obtained results; rectification and correction of deficiencies; preparation of a basic tool for conducting surveys. In order to identify the validity of the adapted diagnostic instrument, a questionnaire survey was conducted, involving employees of 303 Lithuanian business organizations. The diagnostic instrument “Questionnaire of values congruence and Management Culture (Q-VC-MC)” was developed by adapting the following questionnaires: “Questionnaire of Personal and Organizational Values Congruence for Employee (Q-POVC-115)” and “Questionnaire of Management Culture in Preparedness of the Organisation to Become Socially Responsible (Q-MC-CSR-177)”. The identified high psychometric characteristics of the diagnostic instrument “Questionnaire of Values Congruence and Management Culture (Q-VC-MC-110)” show that it is suitable for measuring the set even in a relatively small sample. -
The Possibilities of the Optimization of Managing Organizations of Education Sector
Zuzana Stoličná, Jana BarjakováThis chapter delves into the management of organizations within the education sector under the Ministry of Education, Science, Research, and Sport of the Slovak Republic. It examines the current state of management, identifies key determinants affecting these organizations, and explores the tools and methods used in their management. The chapter also highlights the challenges faced in financial planning and budget management, and proposes optimization measures to enhance the efficiency and effectiveness of these organizations. By analyzing specific cases and drawing from academic literature, the chapter offers valuable insights into the optimization of public sector management in the education sector.AI Generated
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AbstractThe article focuses on the analysis of the current state and determinants influencing the way of management of directly managed organizations of the Ministry of Education, Science, Research, and Sport of the Slovak Republic. Simultaneously, the article points out the possibilities of optimization of the management of directly managed organizations within the founding competence of the Ministry of Education, Science, Research, and Sport of the Slovak Republic resulting from the implemented analysis. The aim of the article is to clarify the current state and determinants affecting it and, based on the analysis, to point out the possibilities of effective optimization of the management of this type of organizations. Within the processing of the information, several methods of analyzing the materials, data, and legislative documents are applied, as well as practical knowledge and experiences from the particular government department. The main findings of the article are budgetary planning is problematic, organizations use several management tools independently of each other, the effectiveness of which is questionable, and there is much space for the application of optimization measures that may streamline the management of organizations and reduce the budgetary burden. A set of management optimization possibilities applicable to this specific type of organizations in a given environment is one of the main outputs of this article. -
The Factors that Promote Business Growth Opportunities for SMEs in Latvia in Wholesale and Retail Trade Sector
Ketevan Rizhamadze, Anna ĀbeltinaThis chapter investigates the internal and external factors that promote and hinder business growth for small and medium-sized enterprises (SMEs) in Latvia's wholesale and retail trade sector. It focuses on the critical role of finance, innovation, and human resources in SME growth. The study reveals that access to finance is the most crucial external factor promoting SME growth, while innovation is the most significant internal factor. Additionally, the research highlights the challenges SMEs face, such as lack of innovation, skilled labor, and financial resources. The chapter offers valuable insights into the growth dynamics of SMEs in Latvia, contributing to both academic knowledge and practical business strategies.AI Generated
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AbstractThis study seeks to explore the factors that promote and limit business growth opportunities for SMEs operating in Latvia in the field of wholesale and retail trade. The objective of the research is to emphasize the significance of finances and innovation and to investigate the correlation between the finances and firm’s growth. To achieve the aim of the study quantitative research is applied. This study is exploratory and interpretative in nature, with data collected via multiple sources of evidence, incorporating online survey, business reports and previous researches. The respondents of the survey were identified randomly from SMEs database and were selected depending on size and scope of activities. The results of the research reveal that the growth of SMEs is influenced by factors such as finances, human resources and innovation. The most obvious finding to emerge from this study is that access to finances remains a major obstacle for SMEs and limits their growth opportunities. Despite the importance of the subject, there exists a paucity of researches scrutinizing this issue. Consequently, it is hoped that this research will contribute to a deeper understanding of the subject and will equip policy makers, managers and researchers with useful evidence and insights.
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Eurasian Business Perspectives: Marketing
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Frontmatter
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Celebrity Brand Extensions: Go or No Go?
Oylum Korkut Altuna, F. Müge ArslanThe chapter 'Celebrity Brand Extensions: Go or No Go?' delves into the phenomenon of celebrities as brands and the impact of their brand extensions on consumer attitudes and purchase intentions. It discusses the theoretical background of celebrity branding and brand extensions, highlighting the significance of celebrity authenticity and congruency. The study presents hypotheses on how these factors influence post-extension attitudes and purchase intentions, making it a valuable resource for understanding the complex dynamics of celebrity branding in the modern market.AI Generated
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AbstractCelebrities have been examined excessively as endorsers of brands for the last few decades due to their effectiveness in brand communications and a major contribution to the image of the brands. However, there is a research gap regarding studies on celebrities being brands themselves. Moreover, while there are numerous academic studies on brand extensions pertaining to inanimate brands, almost none are on celebrity brand extensions although celebrity brand extensions are quite common in practice. This study tries to fill this gap by examining the feedback effects of celebrity brand extensions on attitudes toward the celebrity. Thus, the aim of the study is to examine the effects of different authenticity levels of celebrities and the different levels of congruency between the celebrity and the extension on attitudes toward the celebrities and purchase intention of the brand extensions. A between-subjects factorial experimental design was used: 3 (authenticity: High/Moderate/Low) x 2 (congruency: High/Low). Data were collected through a survey (n = 438) using convenience sampling. Results show that there is a significant deterioration in post-extension attitudes towards the celebrity. Additionally, it was determined that as the authenticity level of the celebrity increases and the congruency between the extension and the celebrity increases, the post-extension attitudes toward the celebrity, the extension, and purchase intention also increase. -
Determining the Impacts of Online Customer Reviews on International Students’ Online Hostel Booking Intentions: A Preliminary Study
Khire Ruhshikesh Ulhas, Chang Wen-Ching, Jeng Yi-Yi, Etienne Pepers, Patcharaporn PolasenThis chapter delves into the influence of online customer reviews (OCRs) on international students' decisions to book hostels online. It builds on previous research in the hospitality and tourism industry, extending the focus to the hostel context. The study examines how both positive and negative OCRs affect students' booking intentions and how factors such as price consciousness and website reputation moderate these relationships. Using data from 109 questionnaires, the research employs the partial least square structural equation modeling (PLS-SEM) technique to test these hypotheses. The findings indicate that negative OCRs significantly impact booking intentions, while positive OCRs do not. Additionally, price consciousness is found to moderate the relationship between negative OCRs and booking intentions. This study provides valuable insights for businesses in the hospitality and tourism industry, helping them to craft effective online management strategies.AI Generated
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AbstractWith the rapid growth in the number of international student enrollment, Taiwan is increasingly becoming one of the popular academic destinations in East Asia. While University on-campus accommodation is typically limited, most international students are required to find accommodation off-campus. Also, students prefer to live in youth hostels while traveling around the island. Students mostly use online platforms to find and book accommodation facilities like youth hostels, dormitories, and hence the online customer reviews (OCR) are critically important for students’ decision-making. The main purpose of this preliminary research is to determine the impacts of positive and negative online customer reviews (OCR) on international students’ online hostel booking intention. In addition, it explores the moderating effects of price consciousness and booking website or app reputation. Data collected from 109 international students in Taiwan were analyzed with the help of the partial least squares structural equation modeling (PLS-SEM) approach to test the hypothesized relationships. Results indicate that negative OCR significantly impacts students’ online hostel booking intention while positive OCR does not. Results further indicate that student price consciousness significantly moderates the relationship between negative OCR and students’ online hostel booking intention. We believe the findings of this study are beneficial for businesses in the hospitality and tourism industry for creating an online review management strategy. -
Motivation Toward Plugin Hybrid Electric Vehicles to Reduce Transport Carbon Emission in Malaysia: A Conceptual Paper
Haider Ali Abbasi, Zullina Bt Hussain Shaari, Wajiha Moughal, Izwan Nazirin Bin IsmailThis chapter delves into the motivation behind adopting plugin hybrid electric vehicles (PHEVs) to mitigate transport carbon emissions in Malaysia. It begins by highlighting the global concerns over climate change and the significant role of the transport sector in carbon emissions. The study then explores the technological advancements in PHEVs, which offer substantial reductions in greenhouse gas emissions and fuel consumption compared to conventional vehicles. The chapter also discusses the various motivational factors that can encourage consumer adoption of PHEVs, such as cost-effectiveness, fuel efficiency, and environmental concerns. Additionally, it proposes a conceptual model to understand the relationship between these motivational factors and consumer adoption intentions. The chapter concludes by emphasizing the potential of PHEVs in achieving Malaysia's environmental sustainability goals and suggests strategies to enhance consumer awareness and adoption through social media platforms.AI Generated
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AbstractThe transport sector is the leading source of growing greenhouse gas (GHG) emissions globally. Malaysia ranks 26th globally in carbon emission, and the transport sector is the second most GHG emitter after electricity generation. Vehicles produce 85.2% of emissions and 59% of emissions come from private vehicles in Malaysia, and the best possible way to reduce transport emissions is the diffusion of Plugin Hybrid Electric Vehicles (PHEVs). The PHEVs operate on the electric battery as the battery power depletes, then start operating on a conventional engine. Consumers are observed not aware of these vehicles’ features, and their motivation is not efficient that is why the purchase of the electric vehicle is very low. Social media is a very effective tool of marketing to aware consumers, worldwide more than 51% on earth use social media, and in Malaysia, almost 81% population is active social media users. Social media can play a significant role in enhancing motivation. The study's conceptual framework is thoroughly based on secondary data that combined the incoherent frameworks proposed by different authors into a single study. This study proposed the factors that can motivate and encourage consumers to purchase these vehicles. It will also be helpful for the government to reduce the carbon emission level in pursuing Carbon Neutral Nation 2050 and Greentech Master Plan 2030 target. -
Religion in Consumer Behavior Research: A Systematic Literature Review
Vytautė Šmakova, Žaneta PiligrimienėThis chapter systematically reviews the literature on religion in consumer behavior research from 2010 to 2019, focusing on three key areas: Religion, Religiosity and Purchase Behavior, Religion and Consumer Ethics, and Religion and Sustainable Consumption. The study reveals a significant influence of religion on consumer behavior, with religiosity and religious values shaping purchasing decisions, ethical attitudes, and sustainable consumption patterns. The findings highlight the multifaceted role of religion in consumer behavior, offering valuable insights for marketing strategies and ethical business practices.AI Generated
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AbstractThe aim of this paper is to systematically examine how religion is reflected in scholarly articles regarding consumer behavior research over the year 2010–2019. A total of 36 academic articles was content analyzed to show marketing scholars’ findings of religion as a moderating variable in consumer research. Three main groups were identified in which interest in religion increased significantly: Religion, Religiosity and Purchase Behavior, Religion and Consumer Ethics and Religion and Sustainable Consumption. Evidence suggests that religion, in most cases, influences consumption in specific contexts. Most of the articles analyzed on Religion, Religiosity and Purchase Behavior show an influence on the relationship between religion, religiosity, and purchasing behavior. The results of the analyzed articles on Religion and Consumer Ethics showed that the influential relationship between religion and consumer ethics is questionable. Most articles have revealed that religion has a dual effect on consumer ethics, depending on the internal and external religiosity of consumers. Most of the observed articles on Religion and Sustainable Consumption have shown that religion influences sustainable consumption. In general, religion and religiosity have been found to influence purchasing behavior as well as consumer ethics and sustainable consumption. -
Linking Banking Service Quality to Customer Loyalty: Two Levels Perspective
Nikolina Palamidovska-Sterjadovska, Nikola Levkov, Anita Ciunova-ShuleskaThe chapter delves into the importance of service quality and customer satisfaction in fostering customer loyalty in the retail banking sector. It introduces a two-level perspective on loyalty, examining relationships at both the company and employee levels. The study highlights key dimensions of service quality, such as tangibles, reliability, responsiveness, assurance, and empathy, and their impact on customer loyalty. Additionally, it explores the mediating role of customer satisfaction in these relationships, offering valuable insights for banking professionals seeking to enhance customer retention and loyalty.AI Generated
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AbstractThe present paper analyzes service quality, customer satisfaction, and customer loyalty in the retail banking context in North Macedonia, emphasizing the two levels perspective of customer loyalty, i.e. at bank and at employee level. A survey on a sample of 786 respondents was performed and further structural equation modeling was conducted. In the research model service quality dimensions and customer satisfaction were analyzed as crucial antecedents of customer loyalty on both levels (loyalty to bank and loyalty to employees). Additionally, customer satisfaction was analyzed as a mediator in the relationship between service quality dimensions and customer loyalty. The results revealed that loyalty to employee is significantly determined by intangibles, followed by pricing, both mediated by customer satisfaction. Loyalty to bank is directly influenced by tangibles, while only indirectly affected by intangibles and pricing through customer satisfaction. At the same time, customer satisfaction is a significant predictor of both types of loyalty, additionally mediating the relationship between loyalty to employees and loyalty to bank. The present study contributes to the research corpus in this area by providing more comprehensive understanding of customer loyalty and its antecedents. The two levels perspective of customer loyalty adds further to the value of this research.
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Eurasian Economic Perspectives: Finance
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Indebtedness of North African Firms: Do Family Ownership and Board Attributes Matter?
Oumaima Quiddi, Badr HabbaThe chapter delves into the intricate relationship between family ownership, board attributes, and the indebtedness of North African firms. It highlights the significant role of corporate governance in shaping capital structure decisions and introduces novel insights from an under-researched region. The study employs rigorous methodologies to test hypotheses on the influence of family ownership and board characteristics on debt levels, offering valuable contributions to both academic research and practical applications in corporate finance.AI Generated
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AbstractThis paper aims to examine whether family ownership and board characteristics influence the indebtedness of listed firms from North Africa. Our study is a secondary data analysis using ownership, and board data for the period 2014–2018. The sample includes 289 non-financial firms of the region. The GLS random-effects models were appropriate to provide empirical evidence on the effects of family ownership and board attributes (board size, independent directors, and CEO duality) on debt ratio. Other factors are used as control variables (Return on assets, Return on equity, growth opportunities, liquidity ratio, net assets turnover, firm size, and firm age). Findings suggest that family ownership has no significant impact on debt ratio. Among board attributes, only board size affects negatively the debt ratio. Consistent with prior empirical works, findings reveal that growth opportunities and ROE are negatively associated with debt ratio while net assets turnover, firm size, and ROA have a significant positive effect. This study contributes to the growing literature on financing behavior by shedding light on family ownership and governance issues challenging developing countries and by focusing on the indebtedness of firms operating in a less explored region such as North Africa. -
Wealth Management in Bulgaria and Implications of Risk Profile and Taxation on Wealth Allocation
Atanaska Filipova-SlanchevaThe chapter delves into the wealth management landscape in Bulgaria, examining the composition of financial assets and the implications of taxation on wealth allocation. It reveals that Bulgarian citizens have access to various wealth management products, such as bank deposits, investment funds, and insurance products. The study also highlights the competitive nature of the Bulgarian financial market and the tax preferences that influence wealth management decisions. Additionally, it provides insights into the risk profiles and investment preferences of Bulgarian citizens, based on semi-structured interviews. The findings suggest that while Bulgarian citizens have a conservative to medium risk profile, they lack deep knowledge of wealth management products and services. The chapter concludes by emphasizing the need for better education and understanding of wealth management alternatives to enhance financial decision-making among Bulgarian citizens.AI Generated
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AbstractThe purpose of this study is to review and investigate the wealth management opportunities for Bulgarian citizens, risk profile of individuals, and their wealth allocation in view also of the applicable tax system. Wealth management opportunities are examined based on their trading access, requirements, offering entities. In terms of the Bulgarian individual tax system, certain tax exemptions and preferences for specific wealth management products are applied as the study aims also to investigate whether this affects wealth allocation. Data for wealth management products and services and for tax systems is obtained from publicly available sources. Respective literature related to wealth management, financial assets, Bulgarian wealth management products and services, tax system for individuals, and per wealth management products are reviewed. Findings show that in Bulgaria, there are various wealth management product alternatives. General conclusion, based on semi-structured interviews among 50 Bulgarian citizens, selected on a random principle, is that Bulgarian citizens are conservative to medium risk profile, requiring wealth preservation. Interviewed citizens, lack deep knowledge, expertise, and understanding of the wealth management products and services, their pros and cons. Tax preferences and applicable exemptions on some wealth management products are not significantly affecting wealth allocation. -
Heuristic Behavior as Mediating Effect of Neurofinance and Entrepreneur’s Financial Decision-Making: Evidence of Pretest–Posttest Experiment
Nurazleena Ismail, Nik Maheran Nik Muhammad, Wan Zakiyatussariroh Wan Husin, Aini Ismafairus Abd HalimThe chapter discusses the financial decision-making processes among entrepreneurs, highlighting the influence of heuristic behavior and emotional biases. It reviews previous research on behavioral finance and neurofinance, introducing the concept of neurofinance as a bridge between brain science and financial decision-making. The study uses a field experiment to investigate how heuristic behavior mediates the relationship between emotions and financial decisions, focusing on the impact of positive and negative emotions. The findings reveal significant mediating effects of heuristic behavior, particularly in relation to negative emotions and financial decision-making. The chapter concludes by emphasizing the practical implications for business owners and the need for further research in this area.AI Generated
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AbstractThe contributing factors of failure in financial decision-making are psychology and behavior. Thus, this research aims to examine the mediating effect of heuristic behavior on emotions (neuro function) and financial decision-making. Emotion and financial decision-making of entrepreneurs were identified from the pretest–posttest in experimental analysis. The subjects answered the questionnaire for emotion and financial decision-making in pre-testing experiment. Next, the manipulation of emotions used 12 to 16 minutes of video clips to identify the positive emotion and negative emotion of the subjects. Lastly, in post-testing, the subjects repeatedly answered the emotion and financial decision-making questionnaire followed by a heuristic behavior questionnaire. The data were gathered and analyzed using mediation analysis. The findings showed that heuristic behavior was partially mediated by emotions and financial decision-making. Negative emotion was significantly affected by financial decision-making through heuristic behavior. The neurobehavioral of financial decision-making models were incorporated into the brain components and working memory. Findings from this research would assist the entrepreneurs to make effective and efficient financial decisions if they ignore their emotions. This research suggests using other techniques of Structural Equation Model for further analysis, applying laboratory experiment to improve the results, and testing heuristic as moderator.
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Eurasian Economic Perspectives: Regional Studies
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Social Economy Sustainability at a Regional Level—The Case of the Western Macedonia Region in Greece
Miltiadis Staboulis, Georgios PapagiannisThe chapter examines the social economy and sustainability at a regional level, using the Western Macedonia region in Greece as a case study. It introduces the concept of social entrepreneurship and the social solidarity economy, emphasizing their importance in regional development. The research focuses on the challenges faced by regional actors, such as economic instability and climate change, and the need for sustainable social business initiatives. The methodology involves interviews with representatives of social economy bodies, revealing key factors for the sustainability of these enterprises. The findings highlight the importance of local needs, administrative support, and specific skills for the viability of social enterprises. The chapter concludes with recommendations for policy and practice, emphasizing the need for targeted actions and cooperation among stakeholders to promote a sustainable social economy.AI Generated
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AbstractThe role of social economy and its institutional strengthening, especially in recent years in Greece, reinforce the need for research in the particular field. On the other hand, the importance of regional development and the related European regional policies highlight the need for research data for social economy sustainability in a regional context. This article attempts to present the regional characteristics, as they are reported through interviews by members of social cooperative enterprises that could be taken into account in the development of sustainable business initiatives in the field of social economy. Research is carried out in the Region of Western Macedonia as one of the Greek regions with significant economic challenges. The strengths and weaknesses of the specific area and of its social enterprises as well as the sustainability factors of social entrepreneurship, as perceived by the surveyed representatives, are presented. Finally, the results of this qualitative research are examined in conjunction with the priority areas set by the Regional Smart Specialization Strategy. The knowledge of the subject, the support of the administrative structures, the awareness of the citizens for the social economy, and the development of skills are important factors for the effectiveness of social enterprise activities. -
Structural Convergence with Eurozone and Institutional Quality in Bulgaria
Stela Raleva, Maria MarikinaThis chapter delves into the structural convergence of Bulgaria's economy with the Eurozone and the role of institutional quality in this process. It examines the convergence in the structure of Gross Value Added (GVA) and employment using the Krugman Specialization Index and the Index of Inequality in Productive Structure. The analysis reveals a significant decline in structural differences between Bulgaria and the Eurozone in the early years, followed by a period of stagnation. The chapter also evaluates the effectiveness of government policies and regulatory quality, showing a positive correlation between institutional improvements and economic convergence. The findings highlight the importance of sustained efforts to enhance government effectiveness and regulatory frameworks for continued economic development.AI Generated
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AbstractThe paper examines the structural convergence of the Bulgarian economy with the Eurozone, the quality of the Bulgarian institutions, and their interdependence in the 2000–2018 period. The relevance of the structural convergence is interpreted within the context of its connection to the synchronization of the business cycle and the economy’s resistance to adverse external shocks, while the role of the institutional quality is analyzed with regard to its impact on the structural convergence. The assessment of the structural convergence is based on the relative shares of the components of the gross value added and employment by industry breakdowns, while the institutional quality is measured by the effectiveness of the government and the regulatory quality. The research methodology includes the calculation of the Krugman specialization index and index of inequality in productive structure and the use of Bulgaria’s percentile ranking among all countries included in the survey of the World Bank. On the basis of the empirical analysis, a conclusion is drawn about the existence of structural convergence during the bigger part of the period and the ensuing holding back of the structural dissimilarities. The identified dynamics is accompanied and favorably impacted by an increase in the institutional quality in terms of the two indicators. -
The Latin Monetary Union, the Treaty of 1885 and the Liquidation Clause: The Difficulty to Leave a Monetary Union
Andrea FilocamoThe chapter examines the Latin Monetary Union, established in 1865, and its eventual dissolution in 1927. It focuses on the Treaty of 1885 and the liquidation clause, which presented significant challenges for member states, particularly Belgium and Italy. The narrative highlights the power dynamics and diplomatic maneuvers that shaped the union's fate, offering a historical perspective on the difficulties of exiting a monetary union. The chapter also draws parallels with modern monetary unions, such as the Eurozone, to illustrate the enduring relevance of these historical lessons.AI Generated
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AbstractIn 1865 the LMU was founded by four countries (France, Belgium, Italy, Switzerland, to which Greece joined two years later). It was based on a bimetallic system and experienced a crisis in the Seventies due to a loss in the value of silver. Therefore, at the conference of 1885 for the renewal of the Convention, France asked to insert a clause in the new Treaty for the liquidation of the silver 5-francs coins (ecus), according to which, in case of break-up, each country undertook to redeem their ecus against gold. This measure would have hit especially Belgium and Italy that, however, during the conference, chose different strategies. Belgium fought to avoid the liquidation and abandoned the work of the conference, but was forced later on to accept the liquidation clause; Italy, instead, decided not to oppose the request despite the financial burden that would have resulted and achieved all the set objectives. What emerges is that in a monetary union it is difficult to balance the various interests involved in it, that it is difficult to leave a monetary union (as we have recently seen with the case of Greece in 2015), and that the power relationships and the diplomatic skills are often more decisive than law situations. For economic history, the Treaty of 1885 confirms the refusal of the concept of representative money, whose value does not depend on its own material substance but on a decision of the state. -
Italian Smart Working: An Innovative Approach to Improve Productivity in Public Administration
Wanda D’AvanzoThe chapter delves into the transformation of telework into smart working in Italy, driven by the COVID-19 pandemic. It begins by tracing the legal evolution from the Law 81/2017 to the emergency measures implemented in March 2020. The text emphasizes the advantages of smart working, such as increased productivity and better work-life balance, while also addressing the technical, organizational, and cultural challenges that hinder its widespread adoption. The analysis extends to the public sector, where smart working is seen as a means to modernize and streamline administrative procedures. The chapter concludes by advocating for a cultural shift and legislative simplification to fully realize the potential of smart working in Italy.AI Generated
This summary of the content was generated with the help of AI.
AbstractSmart working is a particular way to organize work performances, based on two main characteristics. The worker is located outside the traditional workplace and carries out his/her work through new information technologies. In Italy, the use of smart working, in the public and private sectors, was heavily implemented after the health emergency linked to Covid-19. Many companies and, above all, public administrations have now to manage a new way of working, but they don’t have an adequate organization. The question is whether Italy will succeed, in the coming months, initiate incisive processes of restructuring and training, to progress towards more flexible working organizations. The contribution provided by the in-depth study of this issue should guide the transition to smart working for many categories of workers for the future, beyond the Coronavirus emergency. The aim is to encourage the initiation of restructuring and progression processes towards an economy based on innovation and change. The importance of opting for flexible and intelligent forms of work is all the more true if we consider that work traditionally understood is in a phase of full transformation, and, therefore, it is necessary to rethink its traditional forms. -
CSR and Turkish Universities in ARWU 2018: An Evaluation of the Strategic Plans and Performance Reports
Fulya AkyıldızThe chapter examines the Corporate Social Responsibility (CSR) activities of Turkish universities listed in the ARWU 2018, focusing on their strategic plans and performance reports. It argues that universities play a crucial role in addressing social and environmental problems and that CSR should be included as an evaluation criterion in global university rankings. The study analyzes the CSR policies and performance of twelve Turkish universities, highlighting the importance of social responsibility in higher education. It concludes that universities should prioritize CSR in their strategic plans to contribute to sustainability and societal development.AI Generated
This summary of the content was generated with the help of AI.
AbstractAnalyzing corporate social responsibility (CSR) in the context of universities is possible through examining their strategic plans that are policy documents making institutional commitments visible. The universities’ strategic plans mainly provide information on education, R&D, and community service policies that are the main responsibility areas of universities. Among these responsibilities, a particular focus is given by this study on social responsibility policies and plans of universities and their position in the global university rankings. Global university rankings, however, solely take academic activities into consideration while ignoring CSR activities. In this context, the study questions the CSR policies and performances of the universities. Twelve universities from Turkey are examined that were included in the 2018 Academic Ranking of World Universities (ARWU). Content analysis is applied to investigate the strategic plans of these universities in order to trace their CSR policy. To understand the CSR performance of universities, the Council of Higher Education’s (CoHE) university reports were used. Finally, the study ranks the universities CSR performances by using ARWU’s ranking method. Results show that, when academic and CSR performance of universities are compared, the rankings of eleven universities out of twelve alter. Findings show that University Social Responsibility (USR) can be applied to strengthen the image of universities and could be used as part of university rankings as a criteria when evaluating a university’s performance.
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- Title
- Eurasian Business and Economics Perspectives
- Editors
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Prof. Dr. Mehmet Huseyin Bilgin
Hakan Danis
Ender Demir
Gokhan Karabulut
- Copyright Year
- 2021
- Publisher
- Springer International Publishing
- Electronic ISBN
- 978-3-030-85304-4
- Print ISBN
- 978-3-030-85303-7
- DOI
- https://doi.org/10.1007/978-3-030-85304-4
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