Journals Published by Vilnius Tech
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Evaluating the effectiveness of the Czech national bank’s monetary policy: a longitudinal study since 1997
Get PDFPurpose – This study examines the effectiveness of the Czech National Bank’s (CNB hereafter) monetary policy with a focus on its adaptive responses to macroeconomic indicators such as inflation, unemployment, economic growth, interbank rate, imports, exports, and exchange rates. The two-week repo rate served as the primary instrument for the analysis period from January 1997 to July 2023.
Research methodology – The research employs a Vector Autoregression (VAR) model, complemented by Impulse Response Functions (IRF), Forecast Error Variance Decomposition (FEVD), Granger Causality and Johansen Cointegration Tests to analyse quarterly data on the dynamic interactions between the CNB’s two-week repo rate and key economic indicators.
Findings – The research results show that the CNB monetary policies have mainly been effective in managing inflation targeting and sustaining economic stability. The considerable influence achieved through proactive policy adjustments to unemployment and interbank rates.
Research limitations – External macroeconomic shocks not accounted for in the VAR model might influence the study results. Furthermore, the findings are specific exclusively to the Czech economy and may not be directly applicable to other countries with distinct economic structures or monetary policy frameworks.
Practical implications – The research highlights the importance of predicting repo rate adjustments in response to changes in unemployment and interbank rates. CNB could use these findings to improve the understanding of policy changes and increase their effectiveness.
Originality/Value – The findings offer valuable insights for policymakers, governments, and banking industry participants seeking to enhance monetary policy efficiency
Visualising anthropomorphism as a creative communicative mode in Samit Basu and Ashish Padlekar’s The Tall Tales of Vishnu Sharma: Panchatantra
Get PDFIn today’s ocular-centric era, vision and visuality play a significant role in representing ideas. This article analyses anthropomorphism as a communicative mode that helps readers comprehend a story’s underlying meaning, using a socio-semiotics metafunction as a lens. The study focuses on Samit Basu and Ashish Padlekar’s adaptation of the famous Panchatantra collection, The Tall Tales of Vishnu Sharma: Panchatantra (published in 2015), where creatures with the ability to speak are the central characters. This story emphasises a diverse group of characters from the world of Panchatantra who communicate their problems to Vishnu Sharma, their chosen guardian, through the transformation of animals into humans. Through the use of animated letters, mascots, and anthropomorphic parameters, barriers can be eliminated in a creative approach. The paper underscores the significance of studying signs and interpreting visually represented social phenomena in order to articulate culture, society, and historical context. The research is divided into two sections: the first section explores the function of images by analysing image artefacts that question the presence of anthropomorphism. In contrast, the second section introduces the four degrees of anthropomorphism and their characteristics. The hypothesis posits that anthropomorphism can effectively convey meaning, especially in stories aimed at children. This study seeks to contribute to a greater comprehension of the use of anthropomorphism as a creative mode of communication in contemporary literature
Creativity and disinformation in artificial intelligence-driven fashion communication
Get PDFFashion is an industry of constant changes and reflects societal alterations; therefore, fashion brands must always seek creative and innovative communication strategies for a positive brand reputation and be at the forefront of technology. Fashion communication shapes society’s needs and perceptions of reality, which are currently shifting due to the high density of various artificial intelligence technologies, including those that can recreate reality. Therefore, consumers are easy to deceive, and creative ways of communicating using artificial intelligence lead to creative ways of disinformation. The question arises as to which topics of creative use of artificial intelligence in the field of the fashion industry are the most widely studied and what the research gaps are. An integrative literature review focusing on papers published between January, 2016 and January, 2024 was conducted to answer the research question and clarify the tendencies of future research. The findings of this research show the emerging machine-washing concept as the topics that scholars are mostly focused on – the recreation of reality using deepfakes and altered images, digital influencers, and their messages
Bibliotherapy initiatives as a means of creativity in prisons: international and Hungarian cases reflected in the professional literature
Get PDFPrison libraries open a window to the world. Initiatives in close cooperation with organizations outside the prison form a bridge to culture, providing events for detainees that, figuratively speaking, take them beyond the prison walls. This essay examines prison library reading groups, initiatives, and activities that may contribute to detainees’ pulling through the period spent in prison and shaping their personalities. We examine bibliotherapy and its advantages. Providing prison library services to detainees can be a powerful experience for detainees serving their sentences, and the far-reaching and lasting effects of reading are unquestionable. The popularity of the programmes is unbroken. In addition to the detainees’ getting out of the cells and establishing social bonds, these programmes typically improve the detainee’s general mood, reduce their anxiety, and improve their communication and emotional expression skills. In the second part of the article, we collect exciting and unique initiatives from all over the world. The presented cases clearly show that the provision of various reading therapies and cultural and educational activities for detainees can contribute to making prison sentences more tolerable. Collecting innovative experiences and creative solutions is helpful because these initiatives can even serve as models for other countries
Empirical analysis of the impact of technology import on industrial innovation in China: a technology expenditure perspective
Get PDFPromoting steady industrial innovation through technology import is an important initiative to accelerate innovation-driven and high-quality economic development in China. In this study, a model of the impact of technology import on industrial innovation is constructed from the perspective of technology expenditure, and empirical analysis is made by employing panel data from 2011 to 2019 in China. There exists obvious regional and industrial differences in the level of technological innovation and the intensity of technology import in China. The econometric results indicate that technology import and industrial innovation are complementary generally, but in the eastern region, as well as the labor- and the technology-intensive industries appear to be substitute. There are obvious regional differences when considering the impact of the interaction items, and the acceleration of technology digestion and absorption is conducive to the improvement of innovation, while that on various industries fail the significant test except for the technology-intensive industry
Assessing small and medium-size enterprise CEOs\u27 attitude towards business growth: the impact of event risk
Get PDFThis research explores SME CEOs’ attitudes toward business growth during extreme global event risks, addressing the gap in understanding SME growth strategies in times of global crises. Drawing from Protection Motivation Theory, Theory of Planned Behaviour, and Resource-Based View, conceptual framework was developed to investigate how motivating factors impact SME CEOs’ attitude and commitment towards business growth intention, with company size as moderator. Data were collected through an online survey administered to 198 Turkish SME CEOs and analysed using structural equation modelling. The results demonstrate that SME CEOs’ intention is influenced by attitude toward business growth, growth commitment, and perceived event risk. Company size only moderates the relationship between event risk and business growth intention. Subjective norms positively influence the attitude toward business growth. Interestingly, there is no relationship between perceived behavioural control and attitude. This study provides better understanding of SME growth decisions during crises, offering insights for both scholars and practitioners. It highlights that practitioners should be aware that business growth decisions are influenced by perceived expectations from others, internal motivations, organisational factors, and external factors (e.g., event risk). The findings suggest that SME CEOs need to be more agile and proactive in responding to external event risk
The role of entrepreneurship in enhancing economic development: the mediating role of gender and motivations
Get PDFStarting from the significant role played by entrepreneurship in the economy and also from the pressing problem of gender inequality, in this paper we aim to analyse the link between entrepreneurship and economic development, with emphasis on the mediating role of gender and motivations of entrepreneurs. We apply panel data regression models on a sample of 53 world countries mapped by their development level. Data regarding countries’ economic development levels is obtained from the World Bank DataBank and the entrepreneurship rates from the annual reports of the Global Entrepreneurship Monitor. The level of economic development is measured by GDP per capita. Entrepreneurship rates by gender and motivations are used to test the mediating role. The results emphasise that male entrepreneurs motivated by necessity and female entrepreneurs motivated by opportunity would significantly stimulate economic development. The analysis of clusters of countries highlights that entrepreneurship enhances economic development, but the effects broken down by gender and motivations have particularities depending on the country. This study contributes to the literature in several ways, such as the comparative analysis, its large sample size and the emphasis on gender differences and entrepreneurs’ motivations
Small sample data pricing research based on Reptile algorithm
Get PDFReasonably pricing data resources contributes to the development of the digital economy. However, in the early stage of the development of the data market, the data transaction volume is small, and the resulting small sample problem makes it difficult to accurately model and forecast the price of data. To address this issue, this paper constructs a meta-learning-based data price prediction model: MLP-Reptile. The model introduces a meta-learning tuning module to optimize the weight parameters of the base model, facilitating effective knowledge transfer learned from multiple tasks to enhance prediction accuracy in new tasks. Experimental results demonstrate that the proposed MLP-Reptile model excels in small sample data pricing tasks, outperforming other models. Additionally, the paper analyzes the different primary factors influencing data prices in various industries. The methods proposed in this research are universally applicable for addressing the small sample problem in data pricing, providing a reference for solving similar issues
Collaborative actions to support SMEs\u27 sustainability in times of crisis
Get PDFThe paper provides a detailed analysis of SMEs’ interest in collaborative action for sustainability as a way of responding to the challenges posed by recent crises. This study attempts to bridge the research gap on how managers of small and medium-sized enterprises manage business sustainability, providing complex insights into the application of collaborative practices for sustainability and the collaborative advantages that can support the competitiveness of these enterprises in the marketplace. The research design is quantitative and targeted 672 SMEs in Romania. A moderated moderation analysis is also carried out, and the model tests the relationship between the age of the analysed SMEs and the impact felt after recent crises, a relationship moderated by sustainable cooperation, and a moderator moderated by possible changes felt from the application of collaborative practices. Finally, this regression function is statistically significant and was shown to be a significant moderated moderation. The research results showed the major impact of recent crises on the activity of SMEs, indicating that the interest of these companies in collaborative actions and the level of results expected from collaboration for sustainability decreases the greater the impact of crises on their business
Financial efficiency of Polish enterprises operating in the transport and warehouse sector in the conditions of the Russian-Ukraine war
Get PDFThe study aimed to identify the dependence of the financial results of Poland’s transport and warehousing sector on the current macroeconomic situation and security conditions related to the war in Ukraine. The econometric method was used – a dynamic panel model. Data from January 1, 2007, to June 30, 2023, from the Central Statistical Office and the National Bank of Poland were used. It was found that the impact of macroeconomic factors on the financial efficiency of individual industries in Poland’s warehouse and transport sector varies in terms of direction and strength of effects. Key factors were identified as macroeconomic determinants of the financial condition of this sector and industries (subsectors) sensitive to hostilities in Ukraine were indicated. The implications of the findings for decision-makers, investors, businesses and researchers are outlined