Eurasian Business and Economics Perspectives

Table of Contents

1. Frontmatter

2. Eurasian Business Perspectives: Consumer Behavior

   1. Frontmatter

   2. Examining the Influence of Environmental Knowledge, Risk Perception and Concern on Sustainable Consumption Behaviour

      Fairuz Ashma Nabila, Rini Kuswati, Soepatini, Ihwan Susila, Anton Agus Setyawan

      Abstract

      This study investigates the factors influencing sustainable consumption behavior in Indonesia, focusing on the roles of environmental knowledge, risk perception, and concern. Sustainable consumption, crucial for reducing environmental impacts, varies globally but is particularly challenging in developing nations like Indonesia, where rapid economic growth has led to excessive consumption. The research, using a quantitative approach with 225 respondents, aims to provide insights into how individual environmental knowledge and perceptions of risk shape their concern and ultimately affect their consumption behaviors. The study employs structural equation modeling to examine these relationships, revealing that environmental knowledge significantly affects both risk perception and concern, which then influences sustainable consumption behavior. However, knowledge alone does not directly drive behavioral change, highlighting the need for policies that not only increase awareness but also address psychological and practical barriers to action. The findings suggest that policymakers and businesses should implement educational and informational programs that not only inform but also guide consumers in applying environmental knowledge in their daily lives. Additionally, the research has implications for businesses, providing valuable data on consumer preferences for sustainable products and services, which can help shape marketing strategies. Future research could expand the study to a more diverse sample population, including Indonesians residing in various countries and with diverse educational backgrounds.

   3. Time Matters: How Usage Duration Shapes User Continuance Intention in Mobile Food Ordering Apps

      Novel Idris Abas, Rini Kuswati, Candra Kusuma Wardana

      Abstract

      This study examines the factors influencing user satisfaction and continuance intention in the context of Mobile Food Ordering Applications (MFO Apps). It aims to explore the comparative behavioral differences between newer and experienced users, addressing the moderating effect of usage duration. As MFO Apps continue to transform consumer behavior in the digital economy, this research provides novel insights into how these platforms cater to diverse user segments and sustain engagement. A quantitative research approach was employed, utilizing online surveys from 243 respondents to analyze user behavior and engagement. The measurement model was validated using Partial Least Squares Structural Equation Modeling (PLS-SEM), ensuring reliability and validity. Multi-Group Analysis (MGA) was conducted to assess differences in behavioral patterns between newer users (less than 2 years) and experienced users (more than 2 years). The results confirm that perceived advantage significantly influences e-satisfaction and continuance intention across all user groups. Comparative analysis reveals that newer users prioritize immediate benefits, such as convenience and promotions, while experienced users focus on consistent performance and advanced features. However, no significant differences were found in the relationship between perceived advantage and e-satisfaction, likely reflecting the stable expectations of the predominantly Generation Z sample.

3. Eurasian Business Perspectives: Digitalization and Technology Management

   1. Frontmatter

   2. On the Overpowering Effect of Digital Green Nudging in Gamified Online Return Management

      Eric Sucky, Christian Straubert, Caterina Rauh

      Abstract

      As e-commerce sales grow, the number of product returns becomes an increasing burden on companies and the environment. Reducing the number of returns would have benefits for both the online retailer, in terms of cost reduction and competitiveness, and the environment, in terms of improving the sustainability of e-commerce. In this article, we compare gamification approaches with and without green nudging. Both approaches aim to motivate customers’ shopping behavior in order to reduce the return rate. In our study, we analyze whether green nudging overpowers the effect of gamification elements. We present the results of two survey-based online experiments (n = 973 and n = 1010) on gamification with and without green nudging (GwN and GoN). Following the self-determination theory, we examine the influence of GwN and GoN on autonomy, competence, and relatedness need satisfaction, as well as the return and purchase motivation of the survey respondents. Using regression, structural equation, and moderation analyses, we find that green nudging is so powerful in the context studied that it overshadows most gamification effects, at least in the short run. Moreover, both approaches appear to be effective but also have potential negative side effects on purchase motivation.

   3. Comparative Study of Virtual Reality and YouTube Videos in Cultural Heritage Tourism: Experience and Information Quality Among Generation Z

      Novel Idris Abas, Farid Adi Prasetya, Budi Setyanta

      Abstract

      This study investigates the effectiveness of Virtual Reality (VR) and Walking Around YouTube Videos (WAYV) in promoting cultural heritage tourism, focusing on experience quality and information quality. The research addresses the challenge of engaging Generation Z, a demographic critical for the future of cultural heritage preservation, as they show declining interest in cultural tourism. VR and WAYV have emerged as innovative tools with unique capabilities for engaging this tech-savvy audience. However, comparative analyses of these media regarding user experience and information delivery remain underexplored. A quantitative approach was employed, involving 252 undergraduate students from Universitas Muhammadiyah Surakarta, Indonesia. Respondents were divided into two groups: one experienced Borobudur Temple through VR, and the other via WAYV. Experience and information quality were measured using validated questionnaires, and data were analyzed using independent sample t-tests. The results indicate no significant difference in experience quality, with both media scoring similarly. However, a significant difference in information quality was observed, with WAYV outperforming VR. The findings reveal that while VR excels in creating immersive and interactive experiences, WAYV delivers more structured and accessible information. These complementary strengths suggest that the choice of medium should align with specific tourism marketing objectives. This study contributes to the growing body of literature on technology applications in cultural heritage tourism and provides actionable insights for practitioners and policymakers.

   4. Realizing Smart Product-Service Systems: An Analysis and Systematization of Challenges in Manufacturing Firms

      Isabel Fischer

      Abstract

      Manufacturing companies increasingly aim to incorporate Smart Product-Service Systems (Smart PSS) to implement a servitization strategy. However, the transition from a traditional product manufacturer to a PSS presents significant challenges for organizations. Literature that holistically examines the specific challenges of Smart PSS implementation is scarce. This study aims to fill this gap by exploring the challenges of Smart PSS implementation. I apply case study research in the empirical context of the European machinery and equipment industry. In this context, I analyzed 20 interviews with key informants from companies that serve international markets and have several years of experience in providing Smart PSS. The findings were conceptualized according to the well-established Technology-Organization-Environment (TOE) framework. My findings reveal in sum 9 dimensions of challenges. These include the categories of infrastructure, data management, leadership, mentality, resources, operations, economy, users, and relationship. Based on these findings I developed 9 hypotheses reflecting the impact of each sub-dimensional challenge on the benefits of a servitization strategy. The hypotheses were synthesized into a comprehensive theoretical model. The findings provide a number of contributions to both the existing servitization literature and practitioners.

4. Eurasian Business Perspectives: Management

   1. Frontmatter

   2. The Interplay of Consumer Religiosity, Spirituality and Minimalism in Shaping Sustainable Consumption Intentions

      Vytautė Šmakova, Žaneta Gravelines

      Abstract

      This study aims to understand how consumer religiosity, spirituality and minimalism collectively shape sustainable consumption intentions. It is grounded in Belief Congruence Theory, which posits that aligned personal values lead to congruent behaviors. Drawing on an integrative review of existing literature, the research develops a conceptual model that considers religious and spiritual beliefs, along with minimalist values, as key internal drivers influencing individuals’ sustainable consumption choices. This study provides a conceptual framework that synthesizes insights from existing literature to identify connections between core personal values, highlighting how these internal factors collectively influence sustainable consumption intentions. The methodology involves a systematic review and conceptual integration, merging insights from environmental psychology, consumer behavior and values research. Preliminary conceptual findings suggest that when individuals hold strong religious and spiritual values - such as purpose, interconnectedness and a sense of stewardship - these values reinforce minimalist principles that favor reduced consumption and environmental care. In turn, embracing minimalism as a personal value, rather than a mere lifestyle choice, appears to strengthen the intention to engage in sustainable consumption practices. By highlighting these internal mechanisms, the study provides a theoretical foundation for future empirical research and offers practical implications for encouraging responsible consumer behavior.

   3. Efficient Sustainability Benchmarkıng in Hotel Water Consumption: Systematic Literature Review (SLR)

      Alexander Schick, Alexander Redleın

      Abstract

      Current legislative regulations require the European hotel industry to establish intensity metrics and benchmarking systems for non-financial reporting of their ecological footprint. Water sustainability is a critical issue in this resource-intensive sector, necessitating optimized consumption practices. This study aims to assess current benchmarking practices, develop intensity metrics, and compare audit results. A systematic literature review was conducted, screening 928 peer-reviewed papers from Scopus and Web of Science using 40 relevant keywords. Applying exclusion criteria and in-depth content analysis, 48 key studies were analyzed. Findings indicate growing concern about water sustainability, with the dominant metric being water use per guest night (WUPGN). Additionally, water use intensity (WUI) based on floor area is essential for accurate benchmarking. Other input metrics, such as grey water or recycled water, remain largely unassessed. The analysis of studies conducting hotel water audits reveals a weighted average WUPGN of 419 L (1667 hotels), with consumption influenced by hotel size, operating type, and services. Contrary to prior research, this study finds that quality level does not significantly impact water use. Climate normalization and outsourcing must be considered for global benchmarking. Further research should refine reporting matrices and expand audits in under-researched regions for improved comparability and efficiency.

   4. Comparative Analysis of Enterprise Architecture Frameworks: TOGAF, Zachman and FEAF

      Miroslav Reiter

      Abstract

      This paper explores the critical role of enterprise architecture (EA) in contemporary organizational management, with particular emphasis on digital transformation. EA frameworks, by providing structured methodologies, enable organizations to strategically design, manage, and align IT capabilities with business objectives. This study conducts a comparative analysis of three widely recognized EA frameworks: TOGAF (The Open Group Architecture Framework), Zachman, and FEAF (Federal Enterprise Architecture Framework). The objective is to assess the relative strengths and limitations of each framework and evaluate their suitability across different organizational contexts. Data were collected through a combination of academic literature, case studies, and survey responses from enterprise architecture professionals in Slovak public and private sector organizations. Methodologically, a multi-criteria evaluation approach was applied, focusing on key dimensions such as methodological structure, process integration, flexibility, scalability, and support for IT strategy management. The findings highlight distinct advantages within each framework—TOGAF’s implementation-oriented structure, Zachman’s conceptual adaptability for documentation, and FEAF’s alignment with public-sector governance models. The study also identifies challenges related to resource intensity, implementation complexity, and limited adaptability, especially in fast-changing environments. Based on the results, practical recommendations are provided to guide framework selection and adaptation based on organizational needs, strategic priorities, and transformation readiness. Additionally, the study suggests the potential value of hybrid approaches that combine elements of multiple frameworks as a flexible solution for organizations navigating complex and evolving digital ecosystems.

   5. Towards a Comprehensive Understanding of Business Model Literature: A Network-Based Cluster Analysis

      Michael Schuricht, Ahsanullah Mohsen

      Abstract

      The aim of this study is to analyze the bibliographic network of business model literature, identifying research streams and clusters while describing their content in details. To achieve this, an extensive literature review is conducted. We extract scholarly work from the OpenAlex scientific database encompassing publications up to the end of the year 2023. A search for the term “Business Model” in the titles of scholarly works found 30,590 publications. For each document, the total strength of its bibliographic coupling links with other documents, and thus the similarity between their reference lists, is calculated. The inner circle of this network, consisting of the 928 publications with the highest coupling strengths, is selected for further analysis. Within this bibliographic network core, a cluster analysis is performed. The result shows the existence of six clusters: “Business Model Innovation”, “Environmental Sustainability”, “Strategic Foundations, Theoretical Perspectives and Value Creation Potential”, “Digital Transformation, Service and Platform Innovation”, “Energy Efficiency”, and “Social Impact”. To highlight the clusters’ content, the titles of all publications in each cluster, their abstracts and keywords within each cluster are analyzed and translated into a cluster-specific narrative. This study holds both theoretical and practical implementation. The results, derived through accepted scientific methods, offers valuable insights for stakeholders to make informed decisions.

5. Eurasian Business Perspectives: Marketing

   1. Frontmatter

   2. Human Factors Affecting a Strategic Marketing Decision: An Experimental Research Design

      Stanislav Schneider, Lars Eberhardt, Alexander Dobhan, Kurt Schwindl-Braun

      Abstract

      In today’s fast-paced and complex world, managers are faced with important strategic decisions. Existing studies confirm five key human characteristics that are related to the quality of strategic decision making: intellect, intelligence, cognitive ability, personality and experience. So far, however, these factors have only been studied in isolation due to the lack of an overarching experimental design. This study is the first to attempt a complete experimental design that covers all factors and thus enables the interactions to be investigated. The effectiveness of the experimental design is confirmed with a test sample of 20 participants with different levels of experience in strategic decision making. The evaluation of the test participants reveals initial indications of correlations between the individual dimensions that have not yet been researched. The experimental design thus provides a complete picture of human performance in strategic decision making. For the first time, it is possible to examine all dimensions in a single experimental design. In addition, the test setup provides a completely new general and domain knowledge test. Practical implications include the derivation of evaluation criteria for predicting or evaluating the strategic performance of managers.

   3. Navigating Political Advertising During Election Campaigns and Its Impact on Family Discussions

      Denis Javorik

      Abstract

      This research study explores the impact of political advertising and disinformation during political campaigns on family discussions, with the focus on generational differences in perceptions of household members in Slovakia. The aim of this paper is to identify and investigate the potential impacts of political campaign ads on family discussions and relationships among household members. Through qualitative research, the author gathered essays from 38 Generation Z respondents and analyzed their experiences of political discourse at home during the election period. The key findings reveal that the majority engages in discussions within their families, with mothers playing a pivotal role as the initiator. However, these discussions often lead to conflicts and generational divide in the recognition of disinformation and critical thinking skills, when the Generation Z respondents believe to be better equipped to handle these issues. While some families experience harmony, lightheartedness and shared views, others find that these topics bring conflict into the household. Despite that, majority of the respondents don’t feel that their relationships are negatively impacted by negative campaigning. This study explores the effects of political polarization on family dynamics and contributes to understand the intergenerational impact of political campaigning on family cohesion and communication.

   4. The Effect of Promotional Activities on Over-The-Counter Products’ Purchase Intention, Brand Loyalty, and Brand Image

      Evrim Inan, Tulin Ural

      Abstract

      Over-the-counter (OTC) products are widely available healthcare products that consumers use without prescriptions. These products, along with nutritional supplements and consumer healthcare devices, are part of consumer healthcare products. This research aims to expand the literature by assessing the effects of promotional activities on consumers’ purchase intention and brand loyalty for OTC products. It also seeks to provide the pharmaceutical industry with a data-driven source for the ethical promotion of OTC products to enhance consumer satisfaction and trust. Although promotional activities significantly influence consumer decisions, their effectiveness varies due to regulatory differences across countries. This study investigates the impact of promotional activities on consumers’ purchase intention and brand loyalty, focusing on the mediating role of brand image in Turkey. Data were collected from 668 adult OTC consumers using purposive sampling and analyzed through structural equation modeling (SmartPLS). Results demonstrate that promotional activities positively affect purchase intention and brand loyalty, with brand image significantly mediating. These findings extend pharmaceutical marketing literature and provide practical insights for developing ethical and effective integrated marketing communication strategies in the OTC market.

6. Eurasian Economic Perspectives: Empirical Studies in Economics and Finance

   1. Frontmatter

   2. Digitalization and Economic Performance of Italian Performing Arts in 2022

      Angela Besana, Antonella Sau

      Abstract

      If the COVID-19 pandemic disrupted the Italian performing arts industry, the European Union and the Italian Government were ready to make up for the lack of resources of cultural organizations. Digitalization was at the heart of European and State policies and funding and provided grants to organizations that demonstrated spending on marketing and IT, digitalization of businesses and communication. This paper aims to understand how the COVID-19 pandemic forced a sample of 992 Italian performing arts to cope with stringency and resulted as a stimulus to develop digitalization, which remained a precious legacy in the post-pandemic 2022. A k-means clustering will be implemented to show that the sample can be separated into three clusters for ratios of 2022’s program service revenues, public grants, the marketing and IT expense and the personnel one. Our findings show that the highest public grants can be found in the least crowded cluster with the lowest program service revenue, while the highest program service revenues are combined with marketing and IT expense as one third of expenses in the most crowded cluster. The lowest personnel expense is connected to the highest marketing and IT expenses. Public funds remain granted for digitalization of business and communication.

   3. Is Portugal Gaming with the Performance Feedback of the Late Payments Directive? Evidence from the Portuguese Municipalities

      Paula Gomes Dos Santos, Fábio Albuquerque

      Abstract

      This paper aims to assess the possible use of gaming by the Portuguese government by allowing Portuguese municipalities not to consider all the short-term liabilities on the European Late Payments Directive (LPD) performance measurement. The analysis is based on data from 308 Portuguese municipalities from 2014 to 2019, using panel data regression. A breakdown by those local governments that comply, or do not, with the LPD threshold, as well as by size classes is also performed to provide a more in-depth analysis of findings. The findings indicate that the total debt of Portuguese municipalities is significantly explained by commercial liabilities that are not considered in the LPD performance measurement. They also show that the payment period has reduced on average, but is still not aligned with the LPD 30-day objective. Moreover, the larger local governments are the ones with the lower payment period on average, mostly complying with the LPD threshold. Despite being limited to municipalities and a single country, its findings may highlight the need for defining common performance measures for the European Union (EU), since Portugal is a member state. This can be relevant for policy-makers but also for a broader audience that includes local citizens and regulatory bodies within the EU.

   4. The Risk of Poverty and Its Impact on Consumer Behaviours: The Case of Slovakia

      Alexandra Krivošíková, Tatiana Bencová, Tomáš Krivošík, Marta Urbaníková

      Abstract

      Global lockdowns and regulations associated with the pandemic have impacted food markets as well as consumption behaviours. Consequently, this paper aims to analyse the changes and effects on consumer behaviour, the selection of foods and drinks, and the difference in the behaviour of the poor compared to the wealthy families in Slovakia. Three hundred ninety-two households participated in the cross-sectional questionnaire survey in 2023. The methodology was based on Principal Components Analysis and Cluster Analysis to research the connections between consumer behaviour during the coronavirus pandemic, with the amount of income and the risk of poverty. The outcome of the analysis showed that a decrease or risk of loss of income directly impacts consumer decision-making in the food market. Considering the study of the consumption of specific types of food, it can be concluded that the behaviour of poor and wealthy families is similar in buying fruits and vegetables in larger quantities and limiting the consumption of sweets and snacks, as well as alcoholic and non-alcoholic beverages. The biggest difference (18.93%) was recorded regarding meat and meat products, where more affluent households reduced consumption in just under 3% of cases, while poorer households reduced consumption by up to 21.5%.