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Stress testing for IInd pillar life-cycle pension funds using hidden Markov model /
No full textThis paper presents a stress testing technique based on a hidden Markov regime switching model and scenario generations. Firstly, we assume that investor’s risk preferences and beliefs are primarily observed in main world indices and then transmitted to other markets such as IInd pillar life-cycle pension funds. This enables both regime (market state) identification and regime-switching detection. Second, we apply stress to the transition matrix by increasing probabilities of moving to a worse market state, i.e., we increase the transition probabilities on the upper-right side of the main diagonal and decrease the diagonal probabilities correspondingly. Third, future scenarios (evolution) of returns of pension funds are generated using stressed transition matrices and basic risk and performance measures of the final wealth are presented. Finally, three different strategies for pension managers are considered and compared to each other. The results show how the best strategy depends on the stress level
Improvement of the electrical switchboard assembly process.
No full textThe study examines the assembly process of special-purpose electrical panels, emphasizing the structural complexity of such production, relevant regulatory requirements, and the significant influence of manual operations on final product reliability. The role of electrical panels within distribution systems is explored by analyzing component interaction and technological characteristics that define strict adherence to the assembly sequence. The research systematizes the entire assembly cycle by examining wire preparation, component mounting, connection formation, and final testing, identifying the factors that most affect process stability and increase the likelihood of errors. Based on this analysis, a detailed assembly scheme is developed to clarify functional relationships between workstations, their interdependence, and critical points where the greatest variations in operation duration occur. This structural insight serves as a foundation for applying mathematical modeling to establish operational relationships, time distributions, and principles for evaluating alternative process solutions. Modeling enables the examination of various redesign scenarios, including improvements in workplace ergonomics, optimization of tool placement, the use of wire-processing technologies, and simplification of connection-forming operations. These scenarios are used to assess changes in operation consistency, movement frequency, workstation load, and overall process stability, while also considering how organizational decisions influence operator work rhythm, physical and cognitive workload, and the likelihood of human error. The model results show that well-chosen technological and organizational adjustments can enhance process uniformity, reduce unnecessary actions, improve assembly precision, and support clearer workplace logic, contributing directly to more efficient production. Alongside the technological aspects, the study also considers sustainability-related factors, including reduced waste generation, and a more ergonomic working environment. The resulting research methodology offers a structured approach for planning improvements in electrical panel production, evaluating the effects of process changes, and implementing well-grounded decisions aimed at increasing efficiency, quality, and long-term process stability
Design and application of hetero-multicomponent metal oxide photocatalysts for wastewater treatment: Ti–Cu–Zn catalysts and future research directions /
No full textHetero-multicomponent metal oxide catalysts are attracting increasing attention for wastewater remediation due to their tunable band structures, synergistic redox activity, and enhanced stability. This review thoroughly evaluates recent progress in the synthesis and application of such catalysts, highlighting Ti–Cu–Zn nanostructures as a representative case study. We examine synthesis approaches—including hydrothermal, biosynthesis, precipitation, and spray-based methods, with additional insight into sol–gel and other less commonly applied techniques—with emphasis on their suitability for constructing layered and multicomponent heterostructures. Mechanistic aspects of photocatalysis, Fenton and Fenton-like processes, adsorption, and electrochemical routes are discussed, with particular focus on charge separation, reactive oxygen species (ROS) generation, and pollutant-specific degradation pathways. Comparative performance metrics against antibiotics, pesticides, dyes, and fertilizers are analyzed, alongside considerations of leaching, reusability, and scale-up potential. Importantly, while significant progress has been made for organic micropollutants, applications in heavy metal remediation remain scarce, highlighting an urgent research gap. By situating Ti–Cu–Zn systems within the broader class of multicomponent catalysts, this review not only synthesizes current advances but also identifies opportunities to expand their role in sustainable wastewater management, including field deployment, regulatory compliance, and integration into decentralized treatment systems
The impact of influencers on consumers' purchase intentions for sustainable products across different generation.
No full textIn recent years, the declining consumers trust in traditional advertising and growing public awareness of environmental protection and sustainable consumption aspects, have encouraged marketers and brands to look for alternative and more attractive forms of communication. One of the most effective ways to reach consumers and strengthen relationships with them is trough influencers, who are considered more reliable sources of information. Cooperation with influencers allows for the effective promotion of sustainable consumption behavior, increasing brand awareness and creating a stronger intention to purchase. Scientific research emphasizes that the personal attributes of influencers and the characteristics of the content they create, used in communication, can influence consumers behaviour and intention to purchase sustainable products. However, one of the emerging challenges is that consumers of different generations accepts this communication differently, therefore it becomes relevant to analyze by what mens influencer marketing can contribute and at the same time increase the efficiency and effectiveness of brand advertising campaigns. Therefore, this paper poses the following research problem – what is the impact of influencers on the purchase intention of consumers from different generations regarding sustainable products? The object of the work is the impact of influencers on consumers‘ purchase intentions for sustainable products across different generations. The aim of the work is to reveal the impact of influencers on consumers‘ purchase intentions for sustainanble products across different generation. The objectives: 1) to analyze the characteristics of influencers, revealing their concepts, types, features and functions performed; 2) to reveal the characteristics of different generations in the context of sustainable consumption; 3) to prepare a conceptual model reflecting the impact of influencers on the intention of consumers of different generations to buy sustainable products; 4) to investigate the impact of influencers on consumers’ purchase intentions for sustainable products across different generations. The following data collections methods were used in the work: analysis of scientific literature, questionnaire survey and data analysis methods: descriptive statistical analysis, Cronbach’s alpha, Pearson correlation, regression analysis, Kruskal-Wallis test, moderated mediation analysis
The links between emotional intelligence of a manager and psychological well-being of employees.
No full textIn contemporary organizations operating in a dynamic and often uncertain environment, managers’ ability not only to effectively manage processes but also to create a psychologically supportive work environment has become a key factor in successful organizational performance. As employees’ expectations continue to grow and the complexity of the work environment increases, emotional intelligence is increasingly identified as one of the most important competencies of a manager as a leader, enabling the understanding and constructive management of emotional processes within organizations. Moreover, it is widely recognized that employees’ psychological well-being is directly related to the quality and sustainability of organizational performance – employees who experience a high level of well-being demonstrate greater engagement, motivation, and productivity. Object of the study: the links between emotional intelligence of a manager and psychological wellbeing of employees. Aim of the study – analize the relationship between the manager‘s emotional intelligence and employees‘ psychological well-being. To achive the aim of the study, the following objectives have been formulated: to reveal the concept of emotional intelligence and to identify the clusters of managers emotional intelligence in a theoretical context; to analyze the concept of psychological well-being and to substantiate the dimensions of psychological well-being; to reveal insights into the relationship between managers’ emotional intelligence and employees’ psychological well-being in a theoretical context; to investigate the expression and links between managers’ emotional intelligence and employees’ psychological well-being To implement the objectives of the study, the following methodology was chosen: scientific literature analysis, interviews and survey. The analysis of scientific literature suggests that emotional intelligence is a complex construct of abilities, personality traits, and emotional and social competencies, encompassing the recognition, understanding, regulation, and expression of one’s own and others’ emotions. The main clusters of managers’ emotional intelligence include self-awareness, self-regulation, self-motivation, and interpersonal competence. Psychological well-being is defined as a multidimensional phenomenon encompassing employees’ optimism, satisfaction with life and work, interpersonal relationships, and negative emotionality. Psychological well-being is distinguished into seven dimensions: optimism, satisfaction with standard of living, satisfaction with family and close relationships, satisfaction with interpersonal relationships, satisfaction with physical health, satisfaction with work, and negative emotionality. The qualitative research revealed that top-level managers perceive emotional intelligence through their everyday leadership experiences and specific behavioral patterns in work-related situations, and emphasize the importance of emotional intelligence for employees’ psychological well-being. The quantitative research showed that, according to employees’ assessments, the expression of managers’ emotional intelligence is moderate and manifests unevenly across individual criteria: emotional expression, social competence, and self-confidence are the most prominent, whereas self-awareness, empathy, self-control, and stress management are less evident. The expression of employees’ psychological well-being was also assessed as moderate; however, its components differ, with the strongest associations observed in satisfaction with relationships with close others, interpersonal relationships, work, and life in Lithuania, while negative emotionality was the least pronounced, although its experiences were recognizable to employees. The analysis of the relationship between managers’ emotional intelligence and employees’ psychological well-being revealed that most dimensions of emotional intelligence are weakly or moderately associated with components of psychological well-being, and no strong relationships were identified. The strongest relationship was found between problem and conflict resolution and employees’ optimism, whereas the weakest was identified between self-confidence and negative emotionality
The role of digitalisation in shaping workforce skills needs and employment policy in the European Union.
No full textDigitalisation is becoming one of the most significant factors shaping the development of the contemporary labour market in the EU. The rapid adoption of information technologies, artificial intelligence and data - driven solutions is changing not only the structure of the economy, but also the nature of professions and the competence requirements placed on employees. As a result of these processes, a growing mismatch between the skills formed by the education system and the real needs of the labour market is becoming evident, creating challenges for both employment opportunities and the effectiveness of employment policy. This issue is particularly relevant in the period of digital transformation, when the need to update skills becomes a permanent phenomenon and lifelong learning becomes an essential condition for a professional career. The objects of the master’s thesis is the change in skill demand among EU workers and employment policy in the context of digitalisation. The study examines how technological changes affect the structure of employee competences, which skills become the most in demand in the digital economy, and how these changes are reflected in EU employment policy measures. The aim of this project is to substantiate the impact of digitalisation on employees’ skills needs and to reveal the role of employment policy in addressing skill mismatch problems in the EU. To achieve this aim, the concept of digitalisation and its main dimensions are analysed, as well as the factors shaping employee skills, competence assessment models, and the main directions and instruments of employment policy. The analysis of scientific literature and reports by international organisations has shown that digitalisation affects the labour market in a complex way (at macro, meso and micro levels). It has been found that demand for high - level cognitive, digital and social skills is increasing, while formal education alone is no longer sufficient to ensure long-term demand in the labour market. The research results reveal that effective employment policy must focus on the systematic creation, activation and use of skills, by strengthening lifelong learning mechanisms, partnerships between employers and education institutions, and the adaptation of social protection to new forms of work. In conclusion, it can be stated that the consistent alignment of digitalisation, employee skills and employment policy is an essential condition for sustainable labour market development in the EU
Assessment of the impact of external environmental factors on the development of the wind energy sector.
No full textIn recent years, wind energy has become an increasingly important part of renewable energy development both in Europe and in Lithuania. Countries seek to reduce dependence on fossil fuels, strengthen energy security, and achieve climate goals; therefore, the development of wind energy has become particularly relevant. Although Lithuania is characterized by favorable natural conditions and a clear strategic direction, the development of the wind energy sector is progressing more slowly than it could. This reveals a significant impact of external environmental factors and emphasizes the need for their systematic analysis. The object of this study is external environmental factors influencing the development of the wind energy sector. The aim of the study is to assess the impact of external environmental factors on the development of the wind energy sector. The objectives of the study are: (1) to analyze the development trends and challenges of the wind energy sector in Europe and Lithuania; (2) to theoretically substantiate external environmental factors and their impact on wind energy development; (3) to develop a research methodology for assessing the impact of external environmental factors on the development of the wind energy sector; and (4) to conduct a study on the impact of environmental factors on the development of the Lithuanian wind energy sector. The research methods applied include systematic analysis of scientific literature, descriptive statistical analysis, correlation analysis, regression analysis, and content analysis. A mixed research model combining quantitative and qualitative analysis was applied in this study. In the case of Lithuania, it was found that wind energy development is statistically significantly influenced by GDP growth and the share of renewable energy, while other macroeconomic indicators – such as inflation, unemployment rate, energy efficiency, dependence on imports, and net domestic greenhouse gas emissions – do not have a statistically significant impact. In the case of Denmark, wind energy indicators are characterized by a very high level of stability and sector maturity, while the impact of external factors is considerably weaker. No statistically significant relationships were identified between the development of the wind energy sector and dependence on imports or energy efficiency, and relationships with other analyzed indicators were also not statistically significant. The qualitative study revealed that the main barriers to wind energy development in Lithuania include the complexity of permitting procedures, opposition from local communities, regulatory barriers, and limitations of the electricity grid. These factors help explain why sector growth remains limited even under favorable economic conditions. The mixed-methods study confirms the research problem that the development of Lithuania’s wind energy sector is not as rapid as the country’s potential would allow, with progress primarily constrained by external environmental factors whose management requires clearer state policy and more effective regulatory solutions. A comparative analysis with Denmark showed that Lithuania has opportunities for faster development; however, this requires strengthening institutional capacity, increasing social acceptance, and creating a more mature wind energy market environment
Entrepreneurial competence development in start-ups across different growth stages.
No full textStartups are innovative, technology-based businesses that are characterized by rapid growth, high uncertainty, and a tendency to operate in risky, untested markets. Although startups contribute to economic development, research shows that most of them fail before they even begin to develop their activities. The failure of startups is most often determined not only by finances or the market, but also by poor decision-making and insufficiently developed entrepreneurial skills. In view of this, it is important to analyse how skills change as a startup develops and which training methods are most effective at different stages of development. The aim of this paper is to analyse experiences in developing entrepreneurial skills at different stages of startup development. The object of the work is the experiences of entrepreneurship education in startups. The tasks of the work are: 1. to analyse the concept, characteristics, and stages of development of startups; 2. to present theoretical insights into the development of entrepreneurial skills in startups at different stages of their development; 3. to reveal experiences in developing entrepreneurial skills in startups at different stages of their development. Data collection and analysis methods: analysis of scientific literature, semi-structured interviews, and qualitative content analysis. The results of the study revealed that in practice, it is difficult for startup founders to distinguish between the stages of development and maturity, so these stages often overlap and were combined into a late stage. The early stage was characterized by the entrepreneur's personal abilities and qualities – creativity, courage to act, curiosity, and independence. Management skills – assessment of opportunities and the market. The beginnings of social skills are also formed at this stage. Skills are developed through experimentation, trial and error. In the growth stage, social skills such as maintaining relationships and assigning tasks become dominant. The process of developing skills is supplemented by mentoring, self-development, and learning environments (hackathons, accelerators). At this stage, experiential learning remains dominant. In the late stage, the entrepreneur becomes a leader, so leadership skills and resource organization dominate. Skill development takes place through reflection and the transfer of experience to the team. Theoretically modelled entrepreneurial skills are essentially confirmed in practice, but their expression is not limited to the stages of development. Empirical data also revealed that personal qualities such as courage, curiosity, initiative, and others have a significant impact on the development of skills at different stages of a start-up's development
Organizational solutions to ensure the well-being of employees returning from maternity (paternity) leave.
No full textDemographic changes, labor market dynamics, and the growing organizational focus on employee well-being have increased the need to understand how organizations support employees during significant life transitions. One of the most sensitive and complex transitions is the return to work after maternity or paternity leave, when employees face changing emotional, physical, social, and organizational needs. Although scholarly literature increasingly addresses employee well-being, there is still a lack of systematic insights into how different dimensions of well-being manifest during the return-to-work process and which organizational solutions promote successful reintegration. The object of the thesis is the organizational solutions that influence the well-being of employees returning from maternity and paternity leave. The aim of the thesis is to identify and analyze organizational practices that affect employee well-being during the return-to-work period. The theoretical part examines the concept and dimensions of employee well-being – psychological, physical, social, economic, and organizational – as well as the legal and organizational context of maternity and paternity leave. It also identifies key measures used by organizations to support returning employees. The empirical research is based on qualitative semi-structured interviews with ten participants and analyzed using content analysis. The findings reveal that returning to work is a multidimensional process. Psychologically, employees experience anxiety, guilt, role conflict, and changes in professional identity. Physical well-being is affected by increased workload, fatigue, and workplaces that are not always ergonomically adapted. In the economic dimension, employees feel generally stable but lack sufficient information about social guarantees. Social well-being largely depends on peer and managerial support, while organizational well-being is shaped by flexible work arrangements, communication clarity, and leadership attitudes. The study also highlights employees expectations for clear, structured, and empathetic organizational practices that ease the transition back to work and help balance professional and family responsibilities
Integration of anticipatory governance principles into the strategic management process in Raseiniai district municipality administration.
No full textThe relevance of the topic examined in the final project is justified by the fact that the ideas of anticipatory governance are already entrenched in the documents of international organizations (such as the OECD and European Commission guidelines) and are gradually being implemented in various countries as a modern approach to the activities of both national and local authorities. Lithuanian national strategic documents also provide for the need to strengthen the implementation of innovation in institutions, but this direction has not yet been explored at the local government level in Lithuania. Therefore, the examination of this topic in the master's thesis will not only contribute to scientific discourse, but will also have practical value, as the results of the study can be used to develop more effective municipal strategies, improve the quality of public services, and increase public confidence in local government. Although scientific research emphasizes the need for change in strategic management in the public sector, in practice, the strategic management process of local government institutions lacks systematic measures and solutions that would promote the integration of anticipatory governance principles. Therefore, the following research problem is formulated: how to integrate the principles of anticipatory governance into the strategic management process at the local government level? The object of the project is the integration of anticipatory governance principles into the strategic management process in local government institutions. The aim of the project – to identify the possibilities of integrating the anticipatory governance principles into the strategic management process in the administration of the Raseiniai district municipality. The objectives of the project are: 1) to develop a theoretical model for integrating anticipatory governance principles into the strategic management process in local government institutions; 2) to examine international and national legal regulation and best practices for integrating anticipatory governance principles into the strategic management process; 3) to investigate the possibilities of integrating anticipatory governance principles into the strategic management process in the administration of the Raseiniai district municipality. Research methods: analysis of scientific literature, analysis of strategic, legal documents and municipal documents, analysis of good practices in foreign countries, qualitative research - semi-structured interviews with representatives of the Raseiniai District Municipality, analysis of research data is carried out using qualitative content analysis. An empirical study conducted at the Raseiniai district municipality administration allowed to evaluate current strategic management practices and identify possibilities of integrating anticipatory governance principles at the local government level. The results of the empirical study revealed that one of the main obstacles to the integration of anticipatory governance principles is the lack of knowledge and competencies. Some municipal employees are not sufficiently familiar with such methods of integrating anticipatory governance principles as scenario development or systematic analysis of future trends. Limited use of data analytics to substantiate strategic decisions was also highlighted. These circumstances indicate that for successful integration it is necessary to invest in strengthening employee competencies and developing analytical skills. The analysis of the study results revealed that the municipality lacks consistent mechanisms that encourage the involvement of stakeholders in the strategic management process. Anticipatory governance principles require broader participation, involving communities, businesses and other local partners in the creation of future visions. This would not only improve the quality of strategic decisions but also increase their legitimacy and public trust in the municipality. There are real opportunities in the Raseiniai district municipal administration to integrate anticipatory governance principles into the strategic management process, but this requires targeted institutional changes. The results of the study indicate the need to strengthen the culture of strategic thinking, develop employee competencies and implement systematic tools for future analysis. These measures would enable a transition to a more proactive, future-oriented strategic management model, which would contribute to the long-term sustainable development of the municipality. The final project concludes with lists of scientific literature and information sources