Open Access Article SciPap-1746

by Ondřej Kuba, Beáta Mikušová Meričková

Abstract: Many democracies across the world are experiencing issues with declining voter turnout, and the Czech Republic is not exempt to this trend. Over the past 30 years, turnout has decreased in this country by almost 20 percentage points. The aim of this research is to identify the determinants that mobilize (or demobilize) citizens to vote in the context of the Czech political environment and to describe the relationships between them. Specifically, we focus on the mobilizing effect of political engagement, mainstream and alternative media, and citizen satisfaction in various aspects of life. The research is based on the responses of a representative sample of respondents (N = 807) and uses structural equation modelling to analyse the responses. Our results show that of all the determinants examined, turnout is particularly influenced by citizens' political engagement. Surprisingly, consumption of mainstream and alternative media content, and citizen satisfaction are not shown to mobilize citizens to vote. However, these determinants have been shown to be significantly related to political engagement and it can be suggested that political engagement is a mediating variable. Thus, we show that it is appropriate to pay attention not only to the direct effects of individual determinants on turnout when examining the determinants of turnout, but also to examine decision-making processes in a broader context.

Keywords: Political Engagement, Voter Turnout, Election, Satisfaction, Media

JEL classification: D72

Open Access Article SciPap-1736

by Tetiana Tetiana But, Mamotenko Daria, Libor Lnenicka, Tetiana Pulina, Veronika Židová

Abstract: The modern 21st century makes developed countries introduce advanced IT technologies, such as smart solutions, which penetrate into the public administration environment and are used by municipalities to improve the life of citizens. Modern programs for developing and implementing “smart city” solutions are focused primarily on the interests and needs of the population. As a result, this trend directly affects the development of tourism by improving the quality of tourist services. The purpose of the study is to offer a conceptual model for creating “smart cities” in Czechia based on smart specialization in the tourism industry by introducing modern technologies and innovations, which will result in bettering the quality of tourism services, increasing the number of tourists and improving the image of the city as a tourist destination. The methodological approach to this study is a systematic literature review. The authors identifies which “smart cities” are effective, efficient, productive, sustainable and unsustainable, and the difference between effective and productive “smart cities”. The creation of “smart cities” in Czechia on the basis of smart specialization in the tourism industry is substantiated. It is noted that the size of the city and the number of its inhabitants do not affect the creation of a “smart city”. Increasing the tourist attractiveness of Czech cities will enable cities of any size to become “smart”. The authors have determined which components of the developed conceptual model will affect its effectiveness. The findings indicate that the impact of new technologies, thanks to the advanced implementation of information and communication technology (ICT) applications, play a crucial role in data collecting and sharing for the “smart cities” development. The article mentions examples of successful implementation of the concept in the Czech cities of Prague, Hradec Králové and Brno. In general, a “smart city” of Czechia can make the tourism industry more accessible and efficient for both tourists and locals, ensure the sustainability of tourism in the city and increase its competitiveness in the tourism market.

Keywords: Concept, Smart Strategy, Tourism Industry, Smart City

JEL classification: Z32

Open Access Article SciPap-1735

by Sofiane Laradi, Roucham Benziane, Abdelhak Lefilef, Salwa Alghamdi, Ramzi Bouderdja, Youcef Souar

Abstract: This research investigates the factors influencing the adoption of mobile banking services in the Arab region, focusing mainly on a case study from Algeria. A conceptual model integrating the Technology Acceptance Model (TAM), Diffusion of Innovations (DOI), and Trust Theory is proposed to gain comprehensive insights. Empirical validation was conducted through a survey of 285 users of BaridiMob, a mobile banking application by Algeria Post, with data analysis conducted using structural equation modelling. The results showed that perceived usefulness, Ease of use, Trust, and attitude towards technology are vital determinants influencing adoption intention. Among these, perceived usefulness had the strongest impact, underscoring the importance of functional value in technology acceptance. Trust was also highlighted as crucial in shaping user attitudes and adoption intentions. These findings have significant implications for promoting mobile banking adoption in the Arab region and emerging economies. However, the study's limitations, including its cross-sectional design and use of convenience sampling, may affect the generalizability of the findings. Future research should employ probability sampling, longitudinal designs, and qualitative approaches to deepen understanding. Exploring additional variables affecting mobile banking adoption and testing the model in various cultural contexts within the Arab region is also recommended to comprehend technology acceptance and adoption nuances, thereby contributing to more effective strategies for promoting mobile banking adoption.

Keywords: Structural Equation Modelling, Trust Theory, Technology Acceptance Model (Tam), Arab Region, Mobile Banking Adoption, Perceived Usefulness

JEL classification: G24, M13, O14

Open Access Article SciPap-1711

by Miloš Hitka, Jozef Ďurian, Lenka Ližbetinová, Eva Nedeliaková

Abstract: The aim of the thesis is to define the level of employee motivation and its development in public administration of the Slovak Republic in the years 2017-2023 in terms of gender. The research sample consisted of 3571 respondents. Relational and financial factors are the most significant for public administration employees in Slovakia, given the fact that they are statistically at the same level of importance each year. In 2020 and 2022, there is a significant preference for relational factors over financial factors. Based on the ANOVA test results, the test identified significant changes for the group of relational, financial career and social factors at the 5% significance level. The Eta-squared test results indicate that in the case of the financial group of factors, these changes are of negligible significance and in the case of relational factors, there is a low substantive significance of these changes. Based on the results, it is possible to conclude that the needs of public administration employees are stable in the long run. By further analysing the results, it is possible to define the motivational factors influencing the needs of public administration employees in the form of an incentive programme.

Keywords: Human Resource Management, Slovak Republic, Public Administration, Employee Motivation, Anova

JEL classification: J24, O15

Open Access Article SciPap-1709

by Iryna Kornilova, Iryna Horbas, Alona Alona Poltoratska, Iryna Netreba, Oksana Derkach, Tetiana Ovcharenko

Abstract: This article puts forward an approach to systemic understanding of innovation outsourcing types based on the dialectical combination of the general and the specific in outsourcing practice. The study involved synthesis, systematisation, and development of theoretical and applied approaches to identifying types of innovation outsourcing in order to establish a theoretical and methodological foundation for organisations to create their own unique models of innovation outsourcing. The article suggests a classification of innovation outsourcing based on various characteristics, including the nature of the services provided, type of business processes, scope of management function, level of change, nature and organisational form of collaboration, source of resourcing, subjects involved, degree of cooperation, stage of the innovation process, and location of outsourcing service providers. The study demonstrates the cross-functional and multi-faceted nature of outsourcing and possibilities of various combinations of innovation outsourcing types, which should be considered when developing innovation strategies of organisations. The main purpose of the article is to shape a comprehensive understanding of various issues related to making effective managerial decisions regarding possible optimisation perspectives of innovation activities for economic entities through collaboration with outsourcers, determining the form, nature, terms, scale, depth, and other critical elements of such collaboration, and considering a range of their advantages and limitations.

Keywords: Management, Outsourcing, Innovations, Innovation Process, Core Competencies, Business Process, Outsourcing Service Provider

JEL classification: O31, O32, F20

Open Access Article SciPap-1693

by Mahirun Mahirun

Abstract: This study aims to test and analyze the effect of capital structure, profitability, investment opportunity set, firm value, earnings per share, and dividend policy, on stock returns. Our research uses regression analysis to determine and analyze the influence of independent variables on dependent variables. The objects in this study are companies incorporated in LQ45 for the period 2013 - 2021. The reason for choosing LQ45 is because it is a type of index used to measure the price performance of stocks that have high liquidity and large market capitalization and are supported by good firm fundamentals. The results of the study found that the capital structure with indicators debt to equity ratio has a significant negative effect on stock return. Profitability with indicators return on equity and investment opportunity set with indicators price earning ratio have a positive and significant effect on stock return. While other findings from our study are firm value with price to book value indicators, profitability from the investor's point of view represented by earning per share indicators, and dividend policy with dividend payout ratio indicators have no effect on stock return.

Keywords: Profitability, Capital Structure, Firm Value, Stock Return, Investment Opportunity Set, Earning Per Share, Dividend Policy

JEL classification: I22, O16, B26, G32, P45

Open Access Article SciPap-1691

by Sainath A R, Gnanendra M, Mohanasundaram T, Leena James, Sheelan Misra

Abstract: This study employs the DCC-GARCH model to investigate the dynamic connectedness between the Indian stock market and major global stock markets. Specifically, we examine daily log returns data of the National Stock Exchange (NSE) index and several international indices, including the United States, Australia, China, Germany, England, Japan, and Taiwan. Our analysis indicates a significant level of volatility spillover between the Indian stock market and the international stock market. Notably, we observe a significant positive spillover effect from the S&P 500 and FTSE 100 to the Indian stock market, suggesting the presence of contagion effects. Additionally, we find bidirectional spillover between the Indian stock market and the Nikkei 225 and Hang Seng, indicating a high level of interdependence between these markets. Our research contributes to the growing literature on the dynamic connectedness of stock markets and has important implications for policymakers and investors in emerging economies such as India. Overall, this study provides valuable insights into the nature and extent of spillover effects between the Indian and international stock markets.

Keywords: Dynamic Connectedness, Volatility Spillover, Indian Stock Market, International Stock Market, Dcc-Garch, Contagion Effects, Interdependence, Emerging Economies.

JEL classification: G01, G15, G17, G18, G32

Open Access Article SciPap-1690

by Renata Halásková, Martina Halásková, Marek Pomp

Abstract: The aim of the study is to examine the effect of government expenditures on institutional and economic dimensions of governance from the standpoint of selected indicators. We evaluate the effect of government expenditures on selected governance indicators (government effectiveness, regulatory quality and the control of corruption) according to two dimensions (institutional and economic dimension of governance). The research covers the period 2002-2021, applying a panel data analysis and the fixed effects method on the sample of 29 European countries. For the purposes of further examination, the European countries are divided into two groups (by GDP per capita in PPS). The results confirmed the effect of differing categories of government expenditures on the evaluated indicators of governance between European countries with higher and lower economic levels. European countries with a higher economic level manifested the strongest positive effect of government expenditures on secondary education and expenditures on police services in relation to the economic dimension of governance (government effectiveness and regulatory quality). The results of countries with a lower economic level show that the control of corruption is affected, both positively and negatively, by government expenditures on education. Government expenditures on pre-primary and primary education had the largest impact in the economic dimension of governance in relation to the reduction of government effectiveness and government expenditures on sporting and recreational services in terms of the reduction of regulatory quality. The reached findings can be beneficial to creators of public policies at all levels of public administration in the creation of concepts and strategic goals.

Keywords: Governance, Panel Data Analysis, Government Expenditures, Economic Dimension Of Governance, Institutucional Dimension Od Governance

JEL classification: H75, H76, C23, H50

Open Access Article SciPap-1681

by Daniel Cardona Valencia, Carola Calabuig Tormo

Abstract: This study aims to empirically assess the impact of green banking activities on banks' green financing and environmental performance. Likewise, it seeks to identify the mediating effect of green financing on the relationship between banks’ environmental performance and green banking activities. It also examines the trends and challenges on the topic. Structural equation modeling was used to evaluate the relationship between the variables identified from primary data collected through a structured questionnaire administered to 321 Colombian bankers, who were selected using convenience sampling. According to the results, green banking activities have a positive impact on banks’ environmental performance, and banks' sources of green financing significantly influence their environmental performance. Notwithstanding, green banking is regarded as a promising strategy for banks because it enhances their competitiveness and reputation, helps them reduce their carbon footprint and costs in the long term, and enables them to be included in sustainability indexes.

Keywords: Sustainability, Environmental Performance, Green Banking, Financial Inclusion, Green Finance, Green Financing

JEL classification: A1, F64

Open Access Article SciPap-1680

by Olga Sych, Vira Kruhliakova

Abstract: European structural funds and financial institutions are the primary funding sources for strategic development initiatives, achieving sustainable development goals and implementing the Green Deal strategy in Europe. As Ukraine moves towards EU membership, it has the potential to use these new financial instruments to support its development projects, drawing on the experience of neighbouring countries such as Poland and the Czech Republic. The article evaluates the effectiveness of EU funding in Poland, the Czech Republic, and Ukraine. We built a regression model that assessed the impact of EU financial instruments on economic growth in Ukraine, Poland and the Czech Republic over ten years. A regression analysis of the relationship between financing through EBRD, EIB loans and indicators of GDP per capita, and foreign direct investment, showed a high level of correlation between these indicators in each country. The most significant impact on GDP is indicated by EBRD project financing in Ukraine. In addition, the growth of financing through European banks is a good sign for foreign investors. It contributes to their involvement in the country's economy, which is crucial for the recovery of Ukraine after the war. The study is of practical importance for improving Ukraine's reconstruction programs using diversified sources of financing.

Keywords: Cohesion Policy, Ukraine., Eu Programs, Grants, Eib Loans, Ebrd Loans

JEL classification: O19, R11, G28

Open Access Article SciPap-1671

by Vu Hoang Tran, Ninh Phuc Lu, Nga Thi Phuong Le, Khoa Dang Duong

Abstract: This article estimates how economic growth and foreign direct investment affect environmental pollution. Our motivation is that less developed nations must make trade-off decisions between economic growth and environmental pollution. Thus, we employ the Autoregressive Distributed Lag Model (ARDL) to analyze a sample of 47 middle-income countries from 1991-2018. The ARDL is a suitable estimation method because it helps analyze the short-term and long-term impacts of economic growth and foreign direct investment on environmental degradation. Our result shows in the long term that a percentage increase in FDI inflows reduces CO2 emissions by 0.006% in the long-term period. A percentage increase in economic growth also decreases environmental pollution by 0.01%. Our findings support Porter's hypothesis, pollution halo hypothesis, and Environmental Kuznets Curve hypothesis. Finally, this study contributes practical implications for policymakers to sustain economic growth and reduce environmental pollution in middle-income nations.

Keywords: Economic Growth, Ardl, Fdi, Middle-Income Countries, Pollution

JEL classification: F30, F40

Open Access Article SciPap-1663

by Ceren Demir, Ebru Gül Yilmaz, Sureyya Imre

Abstract: The effects of technology on economic growth and development have been an area that many economists have focused on, especially since the post-World War II period. This study aims to analyze the differing technological impact between countries with a high share of tourism in their gross domestic product and countries with a high share of the industry. Another aim of the study is to determine the direction of the net effect of technology for the determined country groups. In such a way that, by increasing productivity, technology is the most important factor in solving the world’s scarce resources problem. However, it also causes both social and economic problems in terms of creating negative externalities such as environmental pollution and global warming. To set the impact differences and clarify the net effect of technology, two different country groups have been defined consisting of 30 tourism countries and 30 industrialized countries. The same growth model was imposed in which capital, labor, tourism income, trade openness and middle and high-technology export level as independent variables for both groups. GMM-Generelazied Moment of Moment estimator was applied and it is surprisingly concluded that technology has a negative impact on both country groups’ economic growth.

Keywords: Economic Growth, Tourism, Technology, Industry

JEL classification: F10, O11, O14

Open Access Article SciPap-1650

by Septian Wahyudi, Moris Adidi Yogia, Muhammad Faisal Amrillah

Abstract: Abstract This study addresses a research gap in the impact of partnerships on marketing performance in B2B digital start-ups in Indonesia. Although partnerships have been extensively studied from an innovation theory perspective, there still needs to be more research on how combining the advantages of the two, technology and partnerships, can increase the impact of innovation, such as user-driven innovation. The study proposes to explore user-driven innovation as a mediating variable from the perspective of open innovation theory, which can facilitate the relationship between partnerships and marketing performance in B2B digital start-ups in Indonesia. Structural Equation Modeling tests four hypotheses and uses a sample of 262 digital start-ups on Java Island-Indonesia. The result demonstrates two strategic pathways to enhance marketing performance, user-driver innovation and sustainable competitive advantage. This study introduces the role of user-driven innovation in enhancing marketing performance.

Keywords: Partnership, Open Innovation, User-Driven Innovation, Start-Up Performance

JEL classification: M13, M31

Open Access Article SciPap-1644

by Ivan Derun, Hanna Mysaka, Iryna Skliaruk

Abstract: The principles of non-financial reporting are a prerequisite for the harmonization of reporting standards and a guarantee of comparability of reporting indicators. A lack of a long-term and established practice in preparing non-financial reporting does not allow forming its principles as generally accepted rules for the preparation of reporting data. Therefore, the system of principles of non-financial reporting should be based on the results of scientific research on the theories of disclosure of non-financial information, including publications indexed in the SCOPUS. Based on the results of the bibliometric and linguistic analysis of the selected scientific publications, the correspondence was established between the content substance of the postulates of the most popular motivational theories of non-financial reporting (agency theory, institutional theory, legitimacy theory, stakeholder theory) and individual components of the mechanism of disclosure of non-financial information. The identified causal relationships allowed formalizing the principles of preparing non-financial statements and combining them into a coherent system that covers informational, legal, organizational and communicative aspects of the reporting mechanism and consists of such principles as: application of differentiated metrics; the predominance of substance over form; business accountability; access to information of public interest; reporting coherence; reporting preparation periodicity; full coverage; consistent and continuous disclosure. The formed system of principles of non-financial reporting comprehensively takes into account the peculiarities of the process of preparation of reporting data which mainly contains non-financial information. Therefore, its use as a basis for non-financial reporting standards will contribute to their harmonization and increase the comparability of reporting data.

Keywords: Legitimacy Theory, Institutional Theory, Agency Theory, Non-Financial Reporting, Stakeholder Theory, Principles Of Non-Financial Reporting

JEL classification: M14, M40, B41, Q56

Open Access Article SciPap-1624

by Yunita Budi Rahayu Silintowe, I Made Sukresna

Abstract: This study investigates the effects of green knowledge, green self-identity, and green attitudes on green buying behavior. This study also examines the role of green self-identity in mediating the relationship between green knowledge and green buying behavior, as well as green attitudes as a mediating variable of the effect of green self-identity on green buying behavior. There has been little research investigating the green self-identity variable in the context of green marketing grounded on social identity theory. This study was analyzed using partial least squares structural equation modeling, involving 762 respondents in Indonesia selected using a purposive sampling technique. The results document positive associations between green knowledge and green self-identity, green self-identity and green attitudes, and green self-identity and green attitudes with green buying behavior. Moreover, green self-identity mediates the relationship between green knowledge and green buying behavior, and green attitudes mediate the relationship between green self-identity and green buying behavior. Lastly, green knowledge and green self-identity are crucial in influencing consumers' buying behavior. Individuals with a more comprehensive understanding of the environment will develop a more positive self-perception of the environment. This study contributes to the social identity theory by highlighting the impact of customers' green self-identities on their green purchasing decisions.

Keywords: Environment, Structural Equation Modeling, Green Buying Behavior, Green Self-Identity, Social Identity Theory, Green Knowledge, Green Attitudes

JEL classification: F64, M30, M31, Q50

Open Access Article SciPap-1622

by Rula Hani Alhalaseh, Sumayya Maaiatah

Abstract: This study is a combination between quality management and crisis management within a vital sector, i.e., the health sector, which requires continuous improvement and sustainability of its services that guarantee quality standards. This study aims to investigate the impact of the Covid-19 pandemic on the quality of health services in Jordan. An electronic national survey was designed and distributed after conducting the pilot study consisting of 50 respondents. The data was collected from 334 COVID-19-infected patients and non-infected patients who benefited from the medical services in Jordan. The results of the SEM-PLS confirm a statistically significant positive impact of Corona pandemic on the quality of health services. In addition, it shows a high agreement on the health service quality level. This study concludes that Jordan, like the countries of the Eastern Mediterranean and North Africa (MENA), has suffered from the effects of the Corona virus, and this crisis creates many challenges and threats to its healthcare systems. Therefore, researchers pointed out some recommendations for top management and decision-makers that the government should formulate flexible and long-term health strategies that can deal with sudden events and situations, guided by the information from this study.

Keywords: Quality Management, Jordan, Quality Of Health Services, Corona Pandemic

JEL classification: C12, H11, H75, I0, I18, M1, M11

Open Access Review SciPap-1619

by Markéta Mlčúchová

Abstract: Building on a unified definition and the main attributes that have been identified for platform business models, this paper aims to devise a unified data value chain and shed a new light on the value creation process within platform business models. To meet the main aim of the paper, the following research question is addressed: “How do platform business models create, deliver and capture value through their business model configurations?”. Through an integrative literature review, this paper confirmed that data is the major asset in value creation through platform business models. Furthermore, this paper has devised a unified data value chain that encom-passes sequential forms of digital data such as raw data, pre-processed data, processed data, patterns and smart data, gaining value via numerous processes throughout the data value chain. It was highlighted that interlinked processes throughout the data value chain transformed raw data into the most valuable form of data, knowledge.

Keywords: Platform Business Model, Digital Data, Digitalisation, Value Creation, Data Value Chain

JEL classification: M21, F23

Open Access Article SciPap-1615

by Khoa Dang Duong, Suu Duy Nguyen, Thi Thanh-Phuong Phan, Long Luong

Abstract: This paper examines the relationship between total factor productivity, trade openness, and foreign direct investment to economic growth in 90 middle-income countries from 1990 to 2020. We employ the Generalized Method of Moments with country and period fixed effects to overcome heteroscedasticity and endogeneity issues. The findings indicate a percentage increase in net FDI inflows and Trade Openness improves economic growth by 0.13% and 0.19%, respectively. However, total factor productivity negatively impacts growth due to the improper allocation of resources across sectors. Our paper contributes policy implications to develop economies sustainably. Finally, our findings support comparative advantage (Ricardo, 2015), the internalization theory of Buckley and Casson (1976), and industrialization theories.

Keywords: Economic Growth, Trade Openness, Fdi, Total Factor Productivity, Middle-Income Countries

JEL classification: B17, B27, F43

Open Access Article SciPap-1614

by Ondřej Rolník

Abstract: This paper aims to evaluate how the economic prosperity of regions affects the polarization of political representation, and thus of society. It examines whether economically prosperous regions, represented by economic well-being, show lower political polarisation, and whether regions with lower levels of economic prosperity are more likely to elect polarised and extreme political representatives. The paper focuses on the period from the establishment of the Czech Republic in 1993, to the last elections in 2021 in the NUTS 3 regions of the Czech Republic. Evidence was provided through a determination of the effect of economic well-being, defined by three indicators, i.e., gross domestic product per capita, unemployment, and disposable income per capita, on the development of a created political polarisation index. This index is based on the left-right ideological party division combined with election results for the Chambers of Deputies of the Parliament of the Czech Republic of regional districts. Sociodemographic indicators of the development of the individual regions were used as control variables. These include the average population, share of the university-educated population, age indicators, population density of a given region, voter turnout in a specific election year, and various positions in the institutional setting of the Czech Republic. The most significant components of economic well-being that influence the development of polarisation are the growth of disposable income and unemployment. This is demonstrated through a quantitative economic analysis of the panel dataset using the least squares with fixed effects method that uses time-fixed and region-fixed effects.

Keywords: Czech Republic, Polarisation, Politics, Economic Well-Being, Political Economics, Disposable Income

JEL classification: D72, E61, I31, P16

Open Access Review SciPap-1611

by Armanu Armanu, Risna Wijayanti, Ananda Sabil Hussein, Lisan Sediawan

Abstract: Patient Experiential Quality is an important dimension in the quality of care in hospitals, because poor quality cause visible and invisible cost. With this respect, the present study aims at identifying the dimensions of patient experiential quality and examining the interrelationships among patient experiential quality, patient satisfaction, patient trust, revisit intention, and word of mouth. It also examines the scale’s ability to forecast experiential quality outcomes. The data are collected from mix method study and three different field studies of healthcare patients in two different health care contexts, namely maternity and pediatric clinics. Patient experiential quality is found to conform to the structure of the hierarchical model in all three phaeses. This study identifies five primary dimensions, perceived service quality, interpersonal quality, technical quality, environment quality and administrative quality, which in turn are found to drive experiential quality perceptions. The findings also support that patient experiential quality has a significant impact on revisit intention and word of mouth and that experiential quality mediates the relationship between patient satisfaction and trust. In addition, the results indicate that outcome quality is identified as the most primary dimension of patient experiential quality perceived by maternity and pediatric clinics.

Keywords: Patient Experiential Quality, Patient Satisfaction, Patient Trust, Patient Loyalty

JEL classification: A10