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Exploring rationality of peer-to-peer lending investors: A conceptual approach and multicriteria-based methodology
No full textResearch background: The shift towards globalization, technological innovations, and digitalization has led to the emergence of various innovative financial products, such as peer-to-peer (P2P) lending. Characterised by digital solutions and easier access, P2P lending allows investors to make quick and more frequent investment decisions. However, this can increase investors’ vulnerability to behavioural biases, and therefore leave them open to potential losses. There is a research gap in understanding P2P lending investors’ rationality, including research methods tailored to the specifics of this innovative product.
Purpose of the article: Objectives of our study is to propose a conceptual approach and multicriteria-based methodology to measure the degree and type of investor rationality; to apply it in Lithuanian P2P lending context, and to explore the differences in rationality based on the investors’ sociodemographic characteristics.
Methods: The data set represented answers to an online survey collected from 390 Lithuanian P2P lending investors. Three groups of criteria were employed to assess rationality degree and type: risk and return (reflecting utility maximization), use of available information, and behavioural biases criteria. The rationality index was developed to measure the rationality degree of individual P2P lending investors; descriptive and cluster analysis were performed to assess the rationality type; t-test, ANOVA test and regression analysis were used to investigate its influencing factors.
Findings & value added: The results indicated a moderate overall degree of P2P lending investors’ rationality, with bounded rationality representing 96,67% of the sample. Further clustering analysis proved that bounded rationality behaviour is not homogenous; therefore, measures taken to increase individual’s rationality should be tailored to their specific rationality type primarily focusing on low-scoring rationality criterion. Regarding sociodemographic factors, investors’ financial literacy was identified as the only significant and positive determinant of P2P lending investors’ rationality, reinforcing the importance of financial literacy in society
Structural change and economic growth: Causality relationships in the case of Poland
No full textResearch background: Structural change and economic growth characterise any process of economic development and have relevant research background. However, the research on identification of a character of relationships between the phenomena are not conclusive. Researchers either find that economic growth induces structural change and the process is demand-driven or that structural change determines economic growth and the dependencies are supply-driven or that the relation is two-directional with overlapping interdependencies. Moreover, the association may be shaped differently depending on specific development conditions of each economy and transform over time.
Purpose of the article: The aim of the study is to investigate the relationships between economic growth and structural change in the sectional composition of employment in Poland using state-level quarterly data for 2008–2022. It empirically verifies whether economic growth determines structural change or changes in economic structure influence growth in this specific national context, giving insights into a character of the developmental interdependencies. However, the Polish case is only an example of developmental feedbacks that may specify any catching-up economy. Diagnosing the dominating character of the economic relation is of high importance for any modern transforming country and identifying any limitations to the interdependencies may make it possible to avoid the middle-income trap.
Methods: The paper examines the causality using Granger-test and analyses the relationships with VAR models. It uses some alternative measures of structural change, namely Norm of Absolute Value (NAV), Modified Lilien Index (MLI), and Clark Index (CI) to catch labour reallocation across sections of economic activity (NACE Rev. 2). They are then adopted in lead-lag models of relationships with economic growth.
Findings & value added: The study browses the classical three-sectoral approach to structural transformation using a more detailed structural layout to capture its modern character. Moreover, it compares alternative measures of structural change to derive more detailed conclusions. Methodologically, the study highlights the need for in-depth research into structural change with finer aggregation and measures with different properties. The paper is focused on a specific situation in the Polish economy, for which the relationships have not yet been verified. However, the findings are more universal and may be interesting for any catching-up economy that plans its development policy and needs to focus either on demand- or supply side-relationships. The results suggest rather unidirectional causality running from economic growth to structural change and thus a demand-driven character of the structural modernisation of the Polish economy. This implies the necessity to build stronger inter-sectoral linkages that enable spillover effects that can accelerate growth and induce mutually reinforcing mechanisms of development
ChatGPT adoption in entrepreneurship and digital entrepreneurial intention: A moderated mediation model of technostress and digital entrepreneurial self-efficacy
No full textResearch background: In the rapidly evolving milieu of digital entrepreneurship, the integration of artificial intelligence (AI) technologies, exemplified by ChatGPT, has witnessed burgeoning prominence. However, there remains a dearth of understanding regarding the relationships between ChatGPT adoption in entrepreneurship and individuals’ cognitive career processes of digital entrepreneurship.
Purpose of the article: The primary aim of the research is to adopt the Social Cognitive Career Theory and a moderated mediation model to unravel the intricate dynamics that characterize the impact of ChatGPT adoption in entrepreneurship and digital entrepreneurial intentions, underlying a moderated mediation mechanism of digital entrepreneurial self-efficacy and technostress.
Methods: Drawing on the sample of 1326 respondents in Vietnam using a stratified sampling approach, first, Cronbach’s alpha and confirmatory factor analysis were used to test the reliability and validity of scales; after that, Harman’s single-factor and common latent factor were employed to test the common method bias; finally, the PROCESS macro approach was utilized to test the hypothesized model.
Findings & value added: Our findings reveal positive impacts of ChatGPT adoption in entrepreneurship on digital entrepreneurial self-efficacy and digital entrepreneurial intentions. Moreover, digital entrepreneurial self-efficacy is found to significantly mediate the impact of ChatGPT adoption in entrepreneurship on digital entrepreneurial intention. Furthermore, technostress emerges as a significant negative moderator, influencing the impact of ChatGPT adoption in entrepreneurship on both digital entrepreneurial self-efficacy and intentions. This study thus contributes to the literature by advancing our understanding of how AI technologies shape entrepreneurial aspirations, offering valuable insights for scholars and practitioners navigating the transformative landscape of digital entrepreneurship
Generative artificial intelligence of things systems, multisensory immersive extended reality technologies, and algorithmic big data simulation and modelling tools in digital twin industrial metaverse
No full textResearch background: Multi-modal synthetic data fusion and analysis, simulation and modelling technologies, and virtual environmental and location sensors shape the industrial metaverse. Visual digital twins, smart manufacturing and sensory data mining techniques, 3D digital twin simulation modelling and predictive maintenance tools, big data and mobile location analytics, and cloud-connected and spatial computing devices further immersive virtual spaces, decentralized 3D digital worlds, synthetic reality spaces, and the industrial metaverse.
Purpose of the article: We aim to show that big data computing and extended cognitive systems, 3D computer vision-based production and cognitive neuro-engineering technologies, and synthetic data interoperability improve artificial intelligence-based digital twin industrial metaverse and hyper-immersive simulated environments. Geolocation data mining and tracking tools, image processing computational and robot motion algorithms, and digital twin and virtual immersive technologies shape the economic and business management of extended reality environments and the industrial metaverse.
Methods: Quality tools: AMSTAR, BIBOT, CASP, Catchii, R package and Shiny app citationchaser, DistillerSR, JBI SUMARI, Litstream, Nested Knowledge, Rayyan, and Systematic Review Accelerator. Search period: April 2024. Search terms: “digital twin industrial metaverse” + “artificial Intelligence of Things systems”, “multisensory immersive extended reality technologies”, and “algorithmic big data simulation and modelling tools”. Selected sources: 114 out of 336. Published research inspected: 2022–2024. PRISMA was the reporting quality assessment tool. Dimensions and VOSviewer were deployed as data visualization tools.
Findings & value added: Simulated augmented reality and multi-sensory tracking technologies, explainable artificial intelligence-based decision support and cloud-based robotic cooperation systems, and ambient intelligence and deep learning-based predictive analytics modelling tools are instrumental in augmented reality environments and in the industrial metaverse. The economic and business management of the industrial metaverse necessitates connected enterprise production and big data computing systems, simulation and modelling technologies, and virtual reality-embedded digital twins
Energy mix management: A new look at the utilization of renewable sources from the perspective of the global energy transition
No full textFactors influencing the choice to declare CSR reporting standards: Evidence from Baltic public companies
No full textResearch background: Recently, companies have been increasingly focusing on social responsibility and disclosure. They use a variety of standards to disclose their social responsibility. The prevalence of these practices varies between companies in different countries. In addition, some companies declare CSR reporting standards, while others do not. Stakeholders need to know the characteristics of companies that declare CSR reporting standards.
Purpose of the article: This study aims to reveal the factors influencing the choice to declare CSR reporting standards in Baltic public companies.
Methods: The choice to declare CSR reporting standards is measured by the fact of CSR reporting standards’ declaration and the choice of GRI. The data for dependent variables are collected from non-financial reporting of Baltic public companies by making the content analysis. Company visibility, financial performance, and market expectations are chosen as independent variables. Their data is obtained from the Bloomberg database. Logistic regression models are applied.
Findings & value added: Only half of the companies surveyed disclosed the CSR reporting standards used. Estonian public companies prefer GRI standards, and Lithuanian public companies prefer GRI plus UNGC. CSR reporting standards tend to be declared by those public companies that are larger and operate in the “heavy industry” as well as have higher EPS and lower ROA and CAPI. Market expectations are irrelevant to the disclosure of CSR reporting standards. By contrast, GRI standards are used and disclosed by public companies with the same characteristics as those declaring the standards. Still, in this case, age and market expectations are also important factors. Younger and higher market-value companies tend to choose GRI standards. These results reflect managerial behavior based on legitimacy, stakeholder, and signaling theories. Our findings are important to investors, market regulators, policymakers, managers and shareholders
Socioeconomic and technical factors in European agricultural sustainable waste management: The case of Spain
No full textResearch background: Inadequate management of agricultural waste is a growing challenge that poses significant risks to the environmental sustainability of ecosystems due to the lack of detailed information on how socioeconomic factors influence the management of such waste. The importance of addressing this issue is reflected in various European policies, such as Directives 2018/851 and 2018/852. However, current initiatives do not sufficiently consider the factors that affect producers\u27 behavior in terms of waste management, limiting the effectiveness of these policies in improving the sustainability of the sector.
Purpose of the article: This study seeks to identify and analyze the technical, economic, and social factors shaping agricultural waste management practices among farmers and livestock producers. It also proposes policy and organizational recommendations that could serve as benchmarks. Spain, a key player in the European agri-food sector, serves as a case study.
Methods: Data were collected through a structured survey targeting Spanish agricultural and livestock producers, focusing on socioeconomic, technical, and waste management practices. Spain’s primary production system was selected as a representative European case due to its pivotal role in agricultural and livestock output. The survey, distributed via agri-food cooperatives and digital knowledge-sharing platforms, garnered 396 valid responses, achieving a 95% confidence level and a maximum margin of error of 2.2%. The dataset was analyzed using binary logistic regression to estimate the likelihood of effective waste management based on selected explanatory variables.
Findings & value added: The findings highlight that economic factors such as the volume of farm income directly and significantly influence waste management, indicating that higher income favors better management. Other influential factors are of a social nature: level of education, gender and age of producers. This research underscores the urgent need for tailored policy interventions to address these factors, advocating for enhanced waste management initiatives, specialized training programs, and collaborative advisory services in partnership with cooperatives and industry stakeholders
Be digital to be sustainable! The mediating role of sustainable supply chain practices in triggering the effects of digitalisation on Sustainable Development Goals in the European Union
No full textResearch background: European Union (EU) economies need to enhance sustainable supply chains (SSCs) through digitalisation to realise sustainable development goals (SDGs). However, the impact of digitalisation on the SDGs is complex and multifaceted, and the role of SSCs in mediating this relationship is not fully understood. While extant research has delved into the influence of digitalisation on SSCs, predominantly within specific industries or geographic regions, a research gap persists concerning large-N samples and the generalisability of results.
Purpose of the article: This study evaluates the role of digitalisation in achieving SDGs along with the mediation of SSCs based on the resource-based view, the triple-bottom-line, and dynamic capabilities theories.
Methods: The study has extracted panel data from Eurostat from 2013 to 2022 and evaluated these data through partial least squares structural equation modelling to estimate the association among constructs. The sample covers the EU–27 countries and consists of 270 observations. Digitalisation is operationalised as the use of digital technologies to, for instance, innovate business models, provide new revenue streams and value-producing opportunities, and enhance, streamline, and make supply chain processes more efficient and environmentally sustainable. SSC practices encompass the design, planning, execution, and monitoring of supply chain activities to create value, optimise resources, and minimise environmental impact.
Findings & value-added: The findings indicate that digitalisation has a positive association with SDGs and SSC practices. The study also noted that SSC initiatives play a mediating role between digitalisation and SDGs among the EU economies. These interesting insights could direct policymakers to enforce the initiative of digitalisation in SSCs to boost SDGs in EU economies. Although the literature on digitalisation and SSCs has gained significant attention, this is the first study in these domains
Industry 4.0, digital transformation and human resource management: Emerging themes and research trends in the context of the Visegrad countries
No full textResearch background: The existing literature provides an incomplete approach to understanding the implications of Industry 4.0 for HRM development. Digitalisation has been shown to influence HR practices and the role of HR managers in various aspects of business operations.
Purpose of the article: The aim of this research is threefold: (i) to identify the main themes and sub-themes discussed that have been under consideration by scholars since 2011; (ii) to analyse the research designs and research methods used; (iii) to propose a future research agenda for this field, all with the focus on research development in the Visegrad countries.
Methods: In this research, a systematic literature review (SLR) using bibliometric analysis through the VOSviewer software, complemented with a thematic analysis, considered 112 articles obtained from the Web of Science (core collection) related to the topic of Industry 4.0 (digital transformation) and human resource management. The results reveal that human resource management is a significant phenomenon in supporting digital transformation. By using bibliometric analysis of the retrieved literature, using the standard created by the PRISMA group, it was possible to uncover the main statistical characteristics of published authors and cooperation networks in this area.
Findings & value added: The results of the analyses show that the main themes of the research are HR trends in the Industry 4.0 era, the impact of the COVID-19 pandemic on HR, employee expectations related to the current development of technologies in Industry 4.0, sustainable HRM practices, development of digital competencies, soft and hard skills, the impact of digitalisation on organisational culture, leadership styles and the environment for innovation. From the research design perspective, quantitative research based on empirical data dominates. Overall, this research contributes to the existing literature by providing a comprehensive overview of the research landscape of digital transformation and human resource development while outlining future research directions