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Comparative analysis of selected aspects of the operation of commercial vehicles with conventional and electric drives
No full textIn the face of growing air quality issues and increasing carbon dioxide emissions from the transport sector, there arises a necessity to limit the release of harmful substances into the atmosphere. National and European institutions are introducing stringent emission standards, forcing the transport industry to adapt and seek alternative sources of propulsion. The article analysed the impact of operating conventional and electric delivery vehicles in a courier company, taking into account their environmental impact and economic efficiency
Transfer matrices with positive coefficients of descriptor linear systems
No full textTransfer matrices with positive coefficients of descriptor positive linear continuous-time systems are addressed. Two methods of checking of the positivity of descriptor linear systems are proposed. It is shown that if the positive descriptor system is asymptotically stable then all coefficients of its transfer matrix are positive
A new approach to the stabilization problem of linear systems
No full textA new approach for the stabilization of the linear continuous-time and discrete-time systems is proposed. The desired asymptotically stable state matrices of the linear systems are obtained by pre-multiplication and post-multiplication of the system matrix by suitable square matrix. Procedures for computation of the matrices are given and illustrated by simple numerical examples
Ocena atrakcyjności inwestycji w akcje spółek giełdowych
No full textW artykule omówiono problematykę oceny atrakcyjności inwestowania w akcje spółek giełdowych. Przedstawiono charakterystykę wybranych spółek sektora żywności. Została dokonana analiza wskaźnikowa jako narzędzie analizy fundamentalnej 10 wybranych przedsiębiorstw, analiza rynkowa z uwzględnieniem ryzyka oraz ocena za pomocą taksonomicznej miary atrakcyjności inwestowania. Analiza ta została przeprowadzona na podstawie sprawozdań finansowych spółek w roku 2018
IFRS innovation, governance practices and firm performance: A new empirical assessment of moderating effects across GCC region
No full textResearch background: Despite the large volume of research which has been conducted, the association between corporate governance mechanisms and firm performance remains a controversial issue, particularly with the growth of accounting settings around the world.
Purpose of the article: This study assesses the moderating role of International Financial Reporting Standards (IFRS) on the association between corporate governance mechanisms and firm performance in selected Gulf Cooperation Council (GCC) country-listed firms, namely Saudi Arabia, Qatar, Bahrain, and United Arab Emirates over the period 2016–2019.
Methods: Importantly, we examine the direct and indirect influences of royal family members on long-term firm performance. We attempt to answer our research questions using robust estimation methods such as pooled OLS, fixed effect, random effect and first difference models.
Findings & value added: The outcome reveals a significant and positive impact of firm size and board size on the firm performance in the pooled sample, while there is a significantly negative influence of financial leverage on firm performance. The impact of RFP on FP is seen to be negative and significant while the interaction term is found to be positive and statistically significant. This notably refers to the possibility that royal family directors could play an essential role in influencing the executive management team to fully react to provide extensive voluntary disclosure and comply with IFRS adoption. Our simultaneous quantile regression analysis displays the influence of corporate governance mechanisms on firm performance in various stages. While we observe that IFRS transformation has improved information comparability, policy makes in GCC countries should continue to foster conducive environment to support innovative business practices that help diversify their economies
Impact of negative emotions on financial behavior: An assessment through general strain theory
No full textResearch background: The research has two objectives and employs a serial mediation approach. First, using the general strain theory, it examines the mediating role of negative feelings and impact of economic adversity on people\u27s risk tolerance and prudent financial behavior. The second is determining the various categories\u27 variations according to age.
Purpose of the article: The study\u27s main objective is to evaluate financial behaviour of people with lower and medium incomes after the second wave of COVID-19 in India, and to contribute to the body of knowledge on general strain theory.
Methods: The study examined the proposed framework and tested the serial mediation model based on the general strain theory used as a survey method for data collection, targeting lower and middle-income individuals in India\u27s most populated state. The study applied PLS-SEM to test the framed hypotheses. Furthermore, the Kruskal Wallis test was applied to identify the difference in the various groups classified based on age.
Findings & value added: The results reveal that economic hardship significantly influences improved financial behavior. Risk aversion attitude, loneliness, and depression mediate the relationship between economic hardship and financial behavior. Moreover, the study found quite a few significant differences between the different age groups. The present study will add to the existing literature on financial behavior under the scope of general strain theory and probably be among the few that test general strain theory with financial variables impact on lower and middle-income group individuals from a developing nation in post-COVID-19 period
A novel approach to estimating the debt capacity of European SMEs
No full textResearch background: The concept of debt capacity assumes that a maximum value of debt ratio exists that when exceeded triggers unfavourable consequences, such as drop in market value, default or a change in the business\u27 creditworthiness. With the current state of the art there is a priori no theoretical assurance that such a specific value exists, or rather it is represented by an interval of values. Beyond that, our understanding of debt capacity is often limited to a theoretical approximation by firm-specific factors, while the context of macroeconomic factors, especially those critical for SMEs, is neglected.
Purpose of the article: The aim of this paper is to present a novel approach to estimating SMEs\u27 debt capacity. Further, the aim is to answer the question of what firm-level and macroeconomy conditions lead to exhausting the SMEs\u27 debt capacity and under what conditions a specific value of maximum debt capacity could be estimated.
Methods: To estimate the debt capacity, we suggest a use of an information entropy minimising heuristic and the Minimal Description Length Principle. In this approach, the observed feature space is categorised into several regions. In this case, such a region represents a set of firm- and macroeconomy-specific conditions forming the debt capacity of the SMEs. To the best of our knowledge, such an approach has not yet been used in debt capacity applications.
Findings & value added: We found out that the debt ratio itself provides little explanation of exhausted debt capacity, suggesting that high debt levels are compensated for by other factors. By using the suggested approach, a set of more than 100 different regions was analysed. It was found that in case of five regions (sets of conditions) the debt capacity is exhausted, as the high level of debt has significant distress consequences
Navigating global markets: The role of enterprise risk management and human resource management in SME international expansions
No full textResearch background: Since SMEs lack the financial and human resources required for internationalization, they face more obstacles than large firms. In this regard, their internal/controllable risk management capabilities based on the Resource-based View (RBV) theory might help them overcome internationalization barriers.
Purpose of the article: This study aims to investigate the positive impact of internal/controllable risk management capabilities, such as strategic, operational, and personnel risk capabilities, on the export intention of SMEs. Moreover, this paper finds out whether the impacts of these risk management capabilities on export intention differ depending on the countries where SMEs operate.
Methods: This research uses a random sampling method and shares an online questionnaire with survey respondents. It includes research samples from Czech, Slovakian, and Hungarian SMEs. The researchers analyze the effects of enterprise risk management capabilities on export by performing Binary Logistic Regression analyses.
Findings & value added: While personnel risk management does not affect the export intention of SMEs, strategic risk management and operational risk management positively affect the export intention of SMEs, depending on the countries where SMEs are located. For this reason, there are international differences in the impacts of strategic and operational risk management capabilities on the export intention of SMEs. This paper provides a more holistic approach to managing internal/controllable risk factors and investigates this construct’s effect on internationalization. A country comparison in this specific effect has been only performed in this study. Moreover, the construct of managing internal/controllable risk factors is also linked with the dynamic capability of RBV only in this paper
Competitiveness and innovation of small and medium enterprises under Industry 4.0 and 5.0 challenges: A comprehensive bibliometric analysis
No full textResearch background: In the context of Industry 4.0 and 5.0, competitiveness is intricately linked to innovativeness and ongoing technological advancements, posing a formidable challenge for countries and organizations aspiring to thrive in this environment. Within this framework, the significance of innovativeness is escalating, emerging as a crucial factor for the competitiveness of enterprises and economies alike.
Purpose of the article: The article aims to present the structure and dynamics of research on the competitiveness of SMEs shaped on the basis of their innovativeness to further guide both research and management practice.
Methods: This comprehensive bibliometric analysis delves into the Scopus database to uncover the leading authors, journals, and countries driving empirical research on SME competitiveness and innovation. The study utilizes the VosViewer software to graphically represent the overarching themes explored by researchers in this field. Additionally, an analysis of the selected articles identifies trends shaping the discourse on SME competitiveness and innovation. This multifaceted approach provides a holistic understanding of the current state of research in this domain, paving the way for future directions and insights.
Findings & value added: In this study, the authors conduct a comprehensive analysis of the current research landscape on SME competitiveness and innovation in the digital transformation era. By identifying key challenges, opportunities, and strategies for SMEs, our findings offer valuable guidance for researchers, policymakers, and SMEs themselves in navigating the complexities of the digital transformation landscape
The impacts of innovative and competitive abilities of SMEs on their different financial risk concerns: System approach
No full textResearch background: The lack of financial resources of small and medium enterprises (SMEs) make them face high financial risk. Their entrepreneurial abilities that belong to Resource-based View (RBV), such as innovativeness and competitiveness, might reduce SMEs? financial risk because those entrepreneurial abilities increase the financial performance of businesses.
Purpose of the article: This paper aims to investigate the effects of the innovativeness and competitiveness of SMEs on their financial concerns based on financial risk, including bankruptcy, financial performance, and financial risk management.
Methods: The authors use a method of data analysis and synthesis, including advanced knowledge and digital processing of background studies. This paper examines 1221 SMEs from the Czech Republic, Slovakia, and Hungary. Those firms are chosen by random sampling method from Cribis and the Budapest Chamber of Commerce databases. Then the researchers directed an online questionnaire to collect the research data from the randomly selected firms. The researchers use Ordinal Logistic Regression Test for analysis purposes.
Findings & value added: This paper\u27s results indicate that SMEs\u27 competitiveness does not impact SMEs? bankruptcy prediction, financial performance, or financial risk management. On the other hand, while more innovative SMEs are less likely to face bankruptcy issues than less innovative SMEs, less innovative SMEs indicate better financial performance than their more innovative counterparts. Since this paper focuses on the influences of intangible assets of SMEs (such as characteristics based on RBV and Entrepreneurial Orientation) on their tangible assets (financial performance etc.) and puts emphasis on this fact from an International perspective, this paper makes a significant contribution to the literature. Furthermore, analyzing multiple relationships between SMEs? different entrepreneurial characteristics and various financial risk concerns is another important fact that might draw prospective readers? attention