Journals Published by Vilnius Tech
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Accounting according to the Czech legislation or IFRS? Czechia case study
Get PDFThe article deals with the decision-making situation whether it is more advantageous for accounting entities in Czechia to keep accounting according to Czech accounting regulations or to International Financial Reporting Standards. The preparation of financial statements only in accordance with national accounting regulations may often not be sufficient. Different ways of regulating accounting in the world put pressure on accounting harmonization. International Financial Reporting Standards are the world’s primary tools for accounting harmonization. The results of the decision analysis show that it is more advantageous for accounting entities to prepare financial statements only in accordance with national accounting regulations. The main reason for the higher utility of this option is lower costs, which is the most important criterion in the decision-making process. While accounting entities confirm that the preparation of financial statements in accordance with International Financial Reporting Standards provides higher quality and comparability of accounting information, it also provides higher costs. In the article are used methods of analysis, synthesis, comparison and a selected method of multi-criteria decision making
A cross-sectional study of factors influencing purchasing cars in European Union – does the electric and hybrid cars change the contemporary business approach?
Get PDFThis study aims to examine the expansion of the electric vehicle fleet in the context of transport electrification in the European Union. We assessed the car market, following demand and sales trends for electric and hybrid cars. It was explored the possibility of a causal relationship among the percentage of BEV + PHEV in the total fleet and purchasing power, loading infrastructure, government support, the level of education and the degree of digitalization. To achieve the main objectives of the research to assess the existence and magnitude of the causal effects of the considered variables on the percentage of BEV + PHEV in the total fleet, we conducted a cross-sectional analysis in 2020 among the European Union (EU) countries. Five research hypotheses were formulated and tested. The results confirmed that the economic and social development of a region, the charging infrastructure, the government support measures, and the degree of digitalization positively influence the desire of the EU population to buy electric cars
Government Artificial Intelligence readiness and brain drain: influencing factors and spatial effects in the European Union member states
Get PDFIn the swiftly advancing field of Artificial Intelligence (AI), a field where every country aims to keep pace, significant disparities are observed in how different nations adopt AI. This study explores the deep, yet insufficiently studied, effects of AI on societal, economic, and environmental aspects. It particularly examines how brain drain influences governmental AI implementation capabilities, addressing a gap in existing literature. The study investigates the interplay between government AI implementation and brain drain, factoring in macroeconomic conditions, governance quality, educational levels, and R&D efforts. Utilizing 2022 data from European Union countries, the research employs instrumental-variables regressions (2SLS and LIML) to counteract endogeneity and uses clustering methods for categorizing countries based on their government AI levels, alongside spatial analysis to detect cross-national spillovers and interactions. The findings reveal brain drain’s detrimental effect on governmental AI preparedness, highlight clustering tendencies, and identify spatial interdependencies. This paper underscores the need for strategic policy-making and institutional reforms to bolster government AI capabilities. It advocates for a paradigm shift in government frameworks post-New Public Management era, tailored to the new challenges posed by AI. The research, however, is limited to a single year and region, with constraints on data availability and indicator breadth
How does the digital economy affect corporate business credit supply?
Get PDFBusiness credit supply entails a firm providing credit to its customers as a means to gain a competitive edge. The advent of the digital economy has brought about profound changes in business practices. In this context, it becomes crucial to examine how the digital economy impacts the business credit supply of enterprises. This study employs a theoretical framework to derive insights and carries out an empirical analysis using the City Digital Economy Development Index spanning from 2008 to 2021, along with data from A-share listed companies in Shanghai and Shenzhen. The objective is to explore the influence of the digital economy on corporate business credit supply and its underlying mechanisms. The findings reveal that the digital economy can enhance corporate business credit supply by reducing the incidence of bad debt, thus enabling companies to extend more credit to their customers. This research contributes empirical evidence for understanding the microeconomic impact of the digital economy, while also providing theoretical insights to advance the development of the digital economy and optimize the allocation of financial resources, thereby alleviating corporate financing constraints
A comprehensive review of behavioral biases in financial decision-making: from classical finance to behavioral finance perspectives
Get PDFThis paper offers a detailed analysis of the evolution of financial decision-making theories, focusing on the shift from classical finance to behavioral finance. Classical finance theories, including the Efficient Market Hypothesis and Modern Portfolio Theory, assume that investors behave rationally and that the market is efficient. However, these theories have faced criticisms highlighting the importance of considering irrational behaviors in financial markets. Behavioral finance addresses this gap by integrating psychological insights into financial decision-making. This study systematically reviews the literature on behavioral biases that affect individual investors, identifying fundamental biases and their impact on investment decisions. The analysis emphasizes the role of cognitive limitations and psychological tendencies in shaping market dynamics, influencing asset pricing, investment strategies, and market returns. The research also notes a shift in focus from market-level outcomes to the behavior of individual investors, with an increase in publications. The paper concludes that understanding investors’ biases is crucial for developing effective risk management strategies and investment recommendations, ultimately leading to improved market performance. The findings underscore the growing importance of behavioral finance in explaining investor behavior and market anomalies, highlighting areas for future research in this evolving field
A contextual model for assessing the nexus between green innovation practices and enterprise performance
Get PDFThe pursuit of green innovation and sustainable practices is increasingly growing currently because of the alarming environmental concerns and the coexistence of economic expansions. But the strategies employed by companies in exploring green innovation activities have gained little or no attention in literature. This study proposes a conceptual model that outlines green innovation strategies, corporate performance, and the moderating effect of green dynamic capacity. Based on the perspective of the Resource Based viewpoint and the notion of dynamic capabilities, this study addresses a) what is the relationship between green innovation practices and enterprise performance? and b) to what extent do green dynamic capabilities moderate the connection between green innovation practices and enterprise performance? We used a cross-sectional data from SMEs in Ghanaian manufacturing firms, analysed utilizing the advanced PLS-SEM systematic procedures. Our findings revealed a significant relationship between green product innovation, green process innovation, and green service innovation on financial performance and that green dynamic capacity moderate these relationships. Our research contributes to expanding the knowledge of green innovative practices among SMEs in the manufacturing sector. These findings have both theoretical and practical implications, opening numerous options for further research
Experimental research on the selected biofiltration materials under dynamic conditions
Get PDFHydrogen sulfide (H2S) is a hazardous chemical compound present in raw biogas and requires removal. Biofiltration offers an eco-friendly solution by utilizing sulfur oxidizing bacteria (SOBs) within a biofilter. This biofilter typically comprises packing material to house SOBs and facilitate desulfurization. To optimize removal efficiency (RE), the physicochemical properties of packing materials (organic/inorganic/synthetic) need evaluation. This study focused on the characteristics of sewage sludge and biochar samples produced via pyrolysis at temperatures of 400 °C, 500 °C, and 600 °C, along with cellular concrete (CLC) waste and polyurethane foam (PUF). Measurements included bulk density, pH, and electrical conductivity, with discussion on their impact on H2S purification from biogas under dynamic conditions. Ultimately, PUF, CLC waste, biochar after 600 °C pyrolysis, and sewage sludge exhibited superior performance in terms of lowest bulk density, optimal pH, and highest electrical conductivity.
Article in English.
Eksperimentinis pasirinktos biofiltracijos medžiagos tyrimas dinaminėmis sąlygomis
Santrauka
Vandenilio sulfidas (H2S) yra vienas iš nepageidaujamų toksiškų cheminių junginių, esančių biodujose, todėl jį reikia pašalinti. Šių dujų biofiltravimas yra aplinkai nekenksmingas būdas. Įprastą biofiltrą sudaro filtravimo medžiaga kaip sieros oksiduojančių bakterijų gyvenamoji vieta. Siekiant optimizuoti H2S pašalinimo efektyvumą, eksperimentų metu turi būti įvertinta pasirinktų organinių filtravimo medžiagų fizikinių ir cheminių savybių įtaka biofiltravimo procesui. Tyrimo metu buvo nagrinėtos svarbiausios nuotekų dumblo mėginių charakteristikos ir bioanglis (po pirolizės: 400 °C, 500 °C ir 600 °C), taip pat akytojo betono atliekos ir poliuretano putos. Filtravimo medžiagų pasirinktos frakcijos buvo: mažesnės nei 0,6 mm ir nuo 0,6 mm iki 1 mm. Atlikti matavimai apėmė tūrinį tankį, pH ir elektrinį laidumą bei buvo aptartas šių savybių poveikis H2S valymui iš biodujų.
Reikšminiai žodžiai: H2S šalinimas, biofiltravimas, pakavimo medžiagos, fizikinės ir cheminės savybės
The motive behind international diversification acquisition by business group
Get PDFThis study aims to determine the influence of the industry group business on international acquisition diversification with private ownership and strategic asset seeking as moderating variables. Using resource-based and institutional theory, this study hypothesizes that the industry group business provides benefits and encourages diversification of international acquisitions. In addition, this study also argues that private ownership and strategic assets seeking amplify the influence of industry group business on diversification international acquisition. The novelty of this research aims to address by proposing strategic assets seeking as a moderated variable that influence industry group business on diversified international acquisitions. The sample data of this research are companies listed on the Indonesia Stock Exchange between 2018–2021. The findings of this research can be useful for companies to understand the significance of intangible assets and how they can leverage them to gain a competitive advantage in their respective industries. The results of this study will greatly assist researchers in the field of international acquisitions
Risk-based regulation and supervision of second-tier banks: experience of EU countries
Get PDFThe aim of the study was to determine the impact of increased capital adequacy standards of second-tier banks on their performance. The study is based on second-tier banks of EU member states, as these countries are the first to implement the Basel Committee recommendations, so their experience should be studied and taken into account when building risk-based regulation of second-tier banks of Ukraine and Kazakhstan. The study covers the period of 2009–2022, as the Basel III regulations were adopted after 2008, and they began to operate for the second-tier banks of EU member states in 2013. The study was conducted using econometric modelling with an analysis of the dependence of banking indicators on the capital structure established by Basel III. Functional interrelationships of the dependence of Net Interest Income, Profit, Return on Assets, Return on Equity, Risk Costs to Operating Income were tested. The impact of capital adequacy requirements on the performance of second-tier banks was determined: capital adequacy requirements have a positive impact on net interest income and profit of second-tier banks. The obtained results can be used to substantiate increasing capital adequacy requirements to increase the reliability of the banking system as an element in the system of factors of economic growth of the national economy
Methodical approach to the choice of a business management strategy within the framework of a change in commercial activities
Get PDFThe main purpose of the article is the formation of new strategies in business management with changes in commercial activities. The object of the study is the system of commercial activity and possible changes in it. The scientific task is the definition of a new methodological approach to the formation of new strategies in business management with changes in commercial activity. The research methodology involves the use of a modern method for modeling strategies in business management with changes in business activities. As a result, we presented a methodical approach to the formation of business management strategies in the face of changes in commercial activities. The author’s vision of how the stages of forming the main business management strategy through block-object-oriented modeling should look graphically and schematically was presented. Each of its blocks involves many processions and actions aimed at changes in commercial activity. The innovative novelty of our study lies in the presented methodological approach to the formation of a business management strategy within the framework of changes in commercial activity