Eurasian Business and Economics Perspectives

Table of Contents

1. Frontmatter

2. Eurasian Business Perspectives: Digital Transformation

   1. Frontmatter

   2. Examining the Role of Digital Transformation as an Enabler of Sustainability and Servitization: A Dynamic Capability Perspective

      Isabel Fischer, Alexander Pflaum

      Abstract

      Digitalization, servitization, and sustainability are three developments that significantly influence and threaten companies’ competitiveness. In order to deal successfully with the requisite transformation processes to incorporate these trends, organizations need to acquire a set of dynamic capabilities (DCs). As the developments of DT, servitization, and sustainability show close interrelations between each other, the purpose of this study is to analyze their synergies from a DC perspective. Therefore, we conducted a systematic literature review to identify capabilities and underlying synergies for the three respective transformation contexts. In sum, we analyzed 64 publications, on which we base our results. We found 11 dynamic capability clusters that appear to be indispensable in all three transformational contexts. These should be considered by companies in order to harness the synergies of the transformational developments. Together with further unveiled specific skills, the capabilities that we identified further illuminate the role of DT as an enabler of servitization and sustainability from a DC perspective. We have translated the results into a comprehensive framework that contributes to the scientific literature and helps practitioners leading an organizational transformation.

   3. The Impact of Digitization on Organizational Resilience in a Changing Environment: Evidence from Four Case Studies

      Samah Chemli Horchani

      Abstract

      Digitization and organizational resilience both vindicate how organizations are more capable to deal with unexpected disruptions. Nevertheless, works exploring the link between these two concepts remain spares. This paper aims to outline the potentials of organizational resilience resulting from digitization. It highlights the important perspective allowing the organizations to respond and recover from troubled events. Through the review of the literature, this paper seeks to identify the effect of digitization on the resilience development at the organizational level in a turbulent environment. A prospective observational study was carried out with four cases of companies operating in Tunisia. Documentation was associated with an on-the-job observational investigation for 2 months in each company and in-depth interviews. On the basis of the obtained results, this work found that the usage of digitization might be suitable as an important tool for organizational resilience. The result of this article establishes a set of proposals to guide the development of resilience in the organization using several facets of digitization. The study reveals the effect of digitization on organizational resilience through its three organizational, human and structural levels. Addressed in this paper are: an extensive coverage of the literature, an exploration of current gaps, and various directions for upcoming research.

   4. Understanding Organizational Culture in the Context of Digital Transformation to Pursue Sustainable Growth

      Ettiene Paul Hoffman, Rommel Pilapil Sergio, Zakariya Chabani

      Abstract

      Exploring the interaction of organizational culture and digital information within an organization prompted the undertaking of the review paper. Digital transformation is the process of integrating digital technology like automation and data analytics, which can result in changes to organizational work practices, organizational structure, and cultural values. Therefore, the review paper explores the interaction of organizational culture and digital transformation to understand how they can facilitate sustainable growth. Hence, organizational culture can be relevant to digital transformation as it pertains to managerial and operational activities. Globally, organizations are undergoing significant digital changes and it is therefore important to document the relevance of organizational culture and digital transformation. The review paper applies thematic analysis, evaluates, and synthesizes research that has already been conducted on the phenomena of interest. As a result, the study helps to support publications relevant to the topic by making the ever-expanding corpus of scientific research easier to access and manage. The results indicate that organizational culture can play a vital role in adopting digital transformation in the pursuit of sustainable growth. Moreover, cultural characteristics can explain why digital transformation depends on, for example innovation, market responsiveness, collaboration, and compliance. Consequently, the study can contribute to the body of knowledge that can assist organizations towards the effective transition to digital transformation in support of sustainable growth and within a conducive and supportive organizational culture.

3. Eurasian Business Perspectives: Management

   1. Frontmatter

   2. Knowledge Hoarding: A Bibliometric Analysis and Future Research Directions

      Reni Rosari, Heni Ardianto

      Abstract

      This article presents a comprehensive review of scientific literature that delves into knowledge hoarding within organizational contexts. Through a detailed analysis encompassing descriptive, bibliometric, and content-based approaches, the study identifies a consistent trend in research output on this topic from 2006 to 2022. The primary focus of this article centers around knowledge hoarding and the contemporary research dynamics associated with this phenomenon. By recognizing knowledge hoarding as the central theme of investigation, it becomes evident that the evolving body of literature is paving the way for future explorations in this intricate domain. Moreover, due to the negative connotations associated with the concept of workplace behavior, the study encompasses a spectrum of undesirable behaviors, which, when accumulated over time, can potentially escalate into workplace bullying. The findings also offer valuable insights for prospective research directions. Furthermore, future research endeavors could encompass a more conceptually comprehensive examination of knowledge hoarding, utilizing multi-dimensional frameworks, cross-level analyses, and collective perspectives. Additionally, addressing coping strategies to mitigate the negative consequences, integrating theories from various disciplines, and considering cultural, sectoral, and organizational nuances could enrich the findings, ultimately shaping our understanding of knowledge hoarding behavior.

   3. The Relationships of Strategic Leadership, Resource Orchestration, and Strategy Execution toward Organizational Effectiveness and Competitive Advantage

      Yanti Mayasari, Soebowo Musa

      Abstract

      The COVID-19 pandemic offered the healthcare services industry two distinct strands of the story. On the one hand, it has imposed unprecedented strain on the healthcare system’s capacity to cope with the increasing needs and urgency of surviving through the pandemic. On the other hand, it has necessitated favourable behavioural changes among healthcare stakeholders. Eventually, the pandemic has raised consumerism in healthcare, thus providing bigger opportunities for the healthcare services industry to expedite its growth. This study aimed to address how the healthcare services industry players could take advantage of this window opportunity by explaining the factors shaping competitive advantage from the internal perspective of strategic leadership, resource orchestration, strategy execution, and organizational effectiveness. A validated questionnaire was used to collect the empirical data of 294 healthcare industry employees across 83 hospitals in Indonesia. This study suggested that, in a disruptive environment, strategic leadership promotes organizational effectiveness and competitive advantage only if it goes through strategy execution. Strategic leadership and resource orchestration as individual factors were found to be insufficient to promote organizational effectiveness. Furthermore, this study confirmed that for an organization to achieve its competitive advantage, the role of strategy execution and organizational effectiveness is significantly increasing.

   4. Facts on Women’s Leadership: A Bibliometric Analysis and Future Research Directions

      Reni Rosari, Vania Olivine Danarilia

      Abstract

      This study explores the concept of “women’s leadership” using bibliometric analysis and to offer suggestions for further research. The published journals under study employed the Publish or Perish (PoP) database. This study employed bibliometric methods like author, citation, and keyword emergence analysis from 2011 through 2021. Based on bibliometric analysis, trends in publication, authors who contributed, journal articles, publishing journals, and significant keywords are identified. It also demonstrates the connections between the networks that link the various investigated subtopics of women in leadership. The study’s restriction is that it only incorporates data from reputable, Scopus-indexed or Publish or Perish (PoP) sources that were chosen for their relevance to the topic of women’s leadership in management and business. This study gives practitioners knowledge of an overview, trends in publications, clusters, and a thorough understanding of women’s leadership. Therefore, it may offer tips for future review research. How talent management practices can impact the work/family conflict that women executives or employees experience. This relates to organizational and environmental factors, social and cultural factors, and family factors that might affect the choices made by women leaders. Elements like self-confidence, efficacy, and motivation also are interesting to observe in how a woman or a woman leader reacts to issues that are psychologically connected. This analysis reveals structural patterns in the literature on women in leadership from 2011 through 2021.

   5. The Impact of Digital Transformation on Corporate Identity Management within Small Sized Companies

      Eduards Aksjonenko, Didzis Rutitis

      Abstract

      Digital transformation has affected various aspects of business, including corporate identity management. The research aim is to assess the topicality and impact of digital transformation on the corporate identity management crafting into the corporate strategy of small-sized companies. Research methodology is based on the research of scientific literature with the aim to introduce a conceptual framework for the implementation of digital transformation in the context of corporate identity management and its corporate strategy dimension that can help companies to increase the value of a company. The conceptual scope of the paper focuses on digital transformation and corporate identity management within small-size companies. The authors have identified a research gap related to the intersection of digital transformation and management of corporate identity frameworks in terms of conceptual models and applied know-how that could be utilized to introduce specific digital transformation guidelines in further research. Managing corporate strategy requires organizations to align their digital capabilities with their strategic goals, balance risks and foster a digital mindset throughout the organization. Research limitations relate to focusing on the segment of small sized enterprises operating in the European Union and aiming to perform digital transformation process in parallel to attempts of developing strong corporate identity.

4. Eurasian Business Perspectives: Marketing

   1. Frontmatter

   2. The Effect of Online Turkish Shoppers’ Perceptions on Purchase Intention in Fashion Industry

      Muge Akkor Koktekin, Tulin Ural

      Abstract

      This study aims to explain the effect of online shoppers’ perceptions on purchase intention with empirical evidence from the Turkish consumers in the fashion industry. This research is based on adoption theories. The convenience sampling method was used. Data was collected through social media platforms using an online questionnaire. The sample size in this study is 425 respondents who stated that they shopped online from the fashion industry. Confirmatory factor and path analysis were performed by using the Smart PLS. Empirical findings state that the perceived website design has a positive impact on perceived customer service, perceived reliability, perceived privacy, and online purchase intention. Perceived privacy is related positively to perceived customer service and digital purchase intention. Perceived reliability has a positive impact on perceived customer service, and online purchase intention. However, the positive effect of perception of customer service by Turkish online customers on digital purchase intention in the fashion industry is rejected unlike to other studies in this area. Consequently, a few studies have investigated the interrelationships among perception of website design, privacy, reliability, customer service, and their impact on online purchase intention. This study expands the previous studies and combines important decision dimensions that affect customers’ perception of online shopping.

   3. Problems with Online Shopping in Selected Countries of the European Union

      Štefan Kráľ, Richard Fedorko

      Abstract

      Online shopping is booming right now. However, as the sector grows, so do the problems consumers face when shopping online. The motivation of the study was to explore the problems faced by consumers when shopping via Internet. The paper seeks to assess and contrast the challenges encountered by customers while engaging in online shopping within specific European Union countries, in particular in Germany, France and Spain, which are among the top 10 countries in the global e-commerce market. The paper delves into the theoretical background of online shopping and elucidates the primary challenges encountered by consumers during their online shopping experiences. Utilizing data sourced from the Eurostat database, the paper examines distinct issues in online shopping for the years 2015, 2017, 2019, and 2021, drawing comparisons between them. It was found that the largest share of total problems was recorded in Germany in all years. The most common problem was longer delivery time than stated by the seller with France leading the category. The results of the research can be useful for online retailers in understanding the problems that consumers face when shopping online. Subsequently, sellers can respond adequately and improve the quality of the services provided.

   4. Exploring Consumer Cynicism: A Systematic Literature Review

      Neha Sharma, Nirankush Dutta

      Abstract

      This article conducts an extensive literature review on consumer cynicism from 2011 to August 2023. Its primary objective is to thoroughly explore existing research publications while pinpointing potential directions for future investigation. The study encompasses a vast body of consumer cynicism literature sourced from esteemed journals indexed by SCOPUS and ranked by ABDC. Employing the “Preferred reporting items for systematic reviews and meta-Analyses” (PRISMA) framework, the analysis delves into bibliometric aspects, including publication trends, citation patterns, and research methodologies, providing quantitative insights into consumer cynicism research. It comprehensively covers a spectrum of antecedents and dependent variables, vividly depicting the consumer cynicism landscape. Furthermore, the review critically assesses the scope of variables examined within the consumer cynicism context. Identifying the multitude and diversity of factors explored in the literature underscores the all-encompassing nature of research into this phenomenon. This comprehensive review contributes significantly to a deeper understanding of consumer cynicism and offers valuable directions for future research endeavours.

5. Eurasian Economic Perspectives: Applied Economics

   1. Frontmatter

   2. Comparison of Healthcare Expenditure in V4 Countries

      Jaroslav Skrabal, Jarmila Duhacek Sebestova, Ingrid Majerova

      Abstract

      The paper aims to compare expenditures in the V4 countries in the analyzed period 2016–2020. Among the basic indicators that are compared in this paper in connection with the given economies is the amount of GDP at the level of absolute value and then a comparison using the purchasing power standard (PPS). Other ratio indicators in individual economies, which focus mainly on comparing expenses for health care (total health care expenditure and health care expenditure by function), include percentage of health care expenditure to GDP, euro per capita, and PPS purchasing power standard per capita. In connection with the given indicators, individual comparisons are presented in the paper in the context of the time horizon. Based on the given article, it was found that the largest share of GDP per inhabitant, GDP per inhabitant at market prices, and GDP per inhabitant according to PPS in the analyzed period 2016–2020 was achieved by the Czech Republic, followed by Hungary, Poland, and Slovakia. Another important finding was the fact that within the framework of health care expenditures in the same analyzed period, the ranking of the V4 countries is as follows (Czech Republic, Poland, Hungary, and Slovakia).

   3. Data-Driven Public Transport Routes and Timetables Based on Anonymized Telecom Data

      Nikolay Netov, Radoslav Rizov

      Abstract

      Human activities, including daily urban commuting, usually demonstrate a mix of sustainable and changing behavioral patterns. The development and continuous update of optimal routes and schedules for public transport is a key element in satisfying the transport demands of dwellers. The data available demonstrates a perceived private car dominance over public transport use in Bulgaria. The limited capabilities of cities to develop and introduce optimal routes and schedules of public transport services based on citizens’ actual demands and needs is considered a major shortcoming. The aim of the article is to validate an approach for public transport optimization based on anonymous and statistically aggregated mobile phone positioning data. Our results, which focus exclusively on this novel kind of data, supplement earlier studies on the use of Seasonal ARIMA models in short-term passenger demand forecasting. This allowed us to make a statistical assessment and forecast potential future passenger flow for our chosen routes at different time ranges of the day. Data-driven public transport routes and timetables would make public transport more attractive and useful. Reducing the share of private car trips will improve the air quality and will help lower the level of noise pollution and CO₂ emissions in our cities.

6. Eurasian Economic Perspectives: Finance

   1. Frontmatter

   2. Revisiting Herding Behavior on the Bucharest Stock Exchange

      Andreea Iordache

      Abstract

      This paper investigates herding behavior within the Romanian capital market. For this purpose, we collected data from June 2017 to November 2022, a period characterized by turmoil and uncertainty (caused by the beginning of the COVID-19 pandemic and the Russian invasion of Ukraine). Subsequently, we computed the cross-sectional absolute deviation of returns and we employed regression analysis. The results of our study confirm the existence of herding in the Romanian capital market over the entire period of our analysis. Nevertheless, while examining herding across various market states (such as periods of low and high volatility, as well as upward and downward markets), we failed to uncover any indications of herding behavior. To further pinpoint specific periods of interest, we applied the Zivot Andrews test and identified 25th of November 2021, as a significant turning point. Our findings confirm the presence of herding solely during the initial sub-period from June 2017 to November 2021. These findings may be linked to potential market inefficiencies, implying that investors could potentially develop profitable trading strategies in response.

   3. Financial Literacy and How It Affects the Global Economy

      Agnieszka Wójcik-Czerniawska

      Abstract

      This research explore the role of financial literacy in the context of global economy. The primary objective is to investigate the relationship between financial literacy and individuals’ financial decision-making, particularly its effects on financial security, both in the present and during retirement. The study’s secondary methodology involved a thorough assessment and analysis of the body of research on financial literacy, international economic trends, and the relationship between financial literacy and economic behaviour. The results of this study indicate a critical need for increased financial literacy on a global scale. Despite the progress made in some advanced economies, many regions, particularly in developing countries, exhibit alarmingly low levels of financial literacy. This deficiency in financial knowledge has significant repercussions, as it is closely associated with limited financial inclusion and suboptimal financial decision-making. Furthermore, the research underscores the growing complexity of financial decisions in our increasingly globalized world. The findings emphasize the vital importance of financial management skills in both personal and professional life, particularly in the face of economic volatility and uncertainty. This study highlights the urgent need for comprehensive financial literacy programs and policies, particularly in regions with low financial literacy levels. Enhanced financial education can empower individuals to make informed financial decisions, contributing to improved financial security and bolstering the global economy as a whole.

7. Eurasian Economic Perspectives: Public Economics

   1. Frontmatter

   2. The Level of Compliance to the Accrual-Based IPSAS: Evidence in the Local Government of Ghana

      Eric Kwaku Attefah, Augusta Ferreira, Patrícia Gomes

      Abstract

      This study aims to analyze the compliance level of Ghana’s local government financial statements prepared and disclosed following the accrual-based International Public Sector Accounting Standards. The IPSAS compliance level of 260 local government sector entities in Ghana is evaluated for the 2019–2021 period using the 255-item IPSAS-based disclosure checklist. Results indicate that, for the years 2019 through 2021, Ghana’s overall levels of adherence to the IPSAS are inadequate. Moreover, there was a downward trend in the scores which reveals eminent flaws in compliance with IPSAS. IPSAS 2 recorded the lowest compliance score of 48.57% while IPSAS 14 obtained 100% compliance for all the periods. Some of the reasons that could explain the differences are difficulties in meeting the statutory deadlines for the presentation of financial statements, the lack of adequate training for information preparers, or perhaps the absence of sufficient information systems and adequate accounting software. This study contributes to the debate among scholars, investigators, professionals, standard-setters, and decision-makers in government interested in the compliance of national standards to the accrual-based IPSAS, particularly in the context of local governments in emerging economies.

   3. Housing Affordability: A Bibliometric Review

      Martina Rosíková, Denisa Karolyová, Mark Ratilla, Zuzana Dohnalová, Radka Rejzková

      Abstract

      Housing affordability has become a topical issue in many developed countries in the past decade, driven by factors like the global financial crisis, income inequality, and the sharing economy. As a result, policymakers and researchers have paid increasing attention to the issue of housing affordability. This article provides a bibliometric review of the literature to capture extant scientific knowledge on housing affordability by using the PRISMA framework, analyzing highly cited housing affordability articles from 2018 to 2022 in the Web of Science database. Out of the initial 438 articles found with “housing” and “affordability” keywords, 145 met the selection criteria. Notably, most publications originate from the United States, Australia, and Malaysia. The articles frequently use words like city, market, policy, affordability, and gentrification. The thematic evolution is also moving towards exploring the demand side of the housing market, the determinants of affordable housing, cities, and housing affordability. The bibliometric analysis points to the need for more profound research in niche areas, such as obtaining evidence of urban households or emerging areas as affordable lands and focusing on community. The study highlights the evolution of trending topics and topics related to the concepts of “housing” and “affordability,” requiring future research efforts.