Business, Management and Economics Engineering
type: channel
description: Journal Business, Management and Economics Engineering publishes original research on economics, business and management. More information ...
publisher: Vilnius Gediminas Technical University
language: en
publication name: Business, Management and Economics Engineering
issn: 2669-2481
copyright: Authors who publish with this journal agree to the following terms that this article contains no violation of any existing copyright or other third party right or any material of a libelous, confidential, or otherwise unlawful nature, and that I will indemnify and keep indemnified the Editor and THE PUBLISHER against all claims and expenses (including legal costs and expenses) arising from any breach of this warranty and the other warranties on my behalf in this agreement; that I have obtained permission for and acknowledged the source of any illustrations, diagrams or other material included in the article of which I am not the copyright owner. on behalf of any co-authors, I agree to this work being published in Business, Management and Education journal as Open Access, and licenced under a Creative Commons Licence, 4.0 https://creativecommons.org/licenses/by/4.0/legalcode. This licence allows for the fullest distribution and re-use of the work for the benefit of scholarly information. For authors that are not copyright owners in the work (for example government employees), please contact VILNIUS TECH to make alternative agreements.
items: Digital banking through a gender lens: examining trust and perceptions of Neobanks
items: Effects of the moderating role of trendiness on brand image, E-WOM, brand attitude and online purchase intention
items: Models for implementing changes in motivational factors
items: Evaluating the performance of Moroccan social incubators: an SFA analysis of youth platforms under the national initiative for human development
items: Alignment of innovation diffusion and project management to increase logistics digitalization
items: Determinants of the sustainability of capability-based culinary businesses: evidence from urban areas in Central Java Province
items: Culinary resilience in a globalized world: how social norms negotiate tradition and adaptation
items: Evaluating the effectiveness of the Czech national bank’s monetary policy: a longitudinal study since 1997
items: Human capital and organisational outcome: mediation and moderation model
items: Evaluating financial viability of boilers in palm oil mills under processing capacity variability: a case study approach
items: Utilizing flexible working arrangement into organizational citizenship behavior: a double mediation model
items: The role of outdoor advertising in consumer behaviour in implementing the goals of sustainable development: a case study of Lithuania
items: Evaluating the factors affecting dairy commodity returns: the case of European dairy markets
items: Strategic modeling of enterprise business processes for successful digital transformation
items: Applying the mean-variance framework: portfolio optimization and comparative performance analysis in the emerging Colombian capital market
items: The link between the shadow economy and the happiness economy in EU euro area countries
items: An exploratory study of high-educated poverty through machine learning approach: a case study of East Java, Indonesia
items: The capacity of absorption and the management of human resources in asymmetrical strategic alliances: the case of Moroccan SMEs
items: Taxation of electronic commerce and digital business in the conditions of global convergence economics
items: Will the use of cashless subsidy potentially reduce illegal underground economy activity? A case study in Indonesia
items: Employee commitment in Ghanaian healthcare: a multi-factor analysis
items: How macroeconomic factors impact residential real estate prices in Eastern Europe
items: The need for financial education in the face of the social media and cryptocurrency phenomenon
items: The role of networking competencies in social enterprise performance
items: Enhancing SME performance through innovation: evidence from a transition economy – Kosovo
items: Risk profiling question investigation for robo-advisor
items: Revisiting the dynamics of major cryptocurrencies
items: Does call centers operators’ introjected regulation impact their skill variety and task significance? Evidence from Morocco
items: Leadership style preferences in Bangladesh’s SMEs: A study on transformational, transactional, and laissez-faire leadership
items: Leveraging financial literacy into sustainable business performance: a mediated-moderated model

Digital banking through a gender lens: examining trust and perceptions of Neobanks
type: item
description: Purpose – the aim of study is to examine how interface design elements (usability, presentation, navigation) influence trust, behavioural intention, and adoption of Neobanks among younger users, using data from students at the University of Debrecen, Hungary. Research methodology – a modified Technology Acceptance Model (mTAM) was tested via Partial Least Squares Structural Equation Modelling (PLS-SEM) using primary survey data (n = 159, valid respondents under 25 years old) and quasi-exploratory analysis from Neobank users. Findings – perceived ease of usage significantly mediates the relationship between interface quality and behavioural intention. Trust significantly impacts attitudes and intentions toward fintech, with stronger effects observed among female users. These insights advance cognitive trust theory in digital banking contexts. Research limitations – limited sample diversity and local scope at the University of Debrecen constrain generalizability. The PLS-SEM method focuses on prediction over theory testing may oversimplify complex trust dynamics. Future studies should employ mixed methods and cross-cultural samples for broader relevance. Practical implications – Neobanks can enhance adoption by prioritizing intuitive interface design and tailoring trust-building strategies to gender-specific user preferences. Originality/Value – this research integrates gender differences into mTAM and offers novel insights into trust formation for digital banking among younger European university students, A departure from prior studies is focused solely on technical features.
subject: Articles
  topic: section
subject: consumer perceptions
  topic: keywords
subject: digital banking
  topic: keywords
subject: fintech adoption
  topic: keywords
subject: gender differences
  topic: keywords
subject: Technology Acceptance Model (TAM)
  topic: keywords
creator: Domicián Máté
creator: Bashir Alnouri
creator: Jolita Vveinhardt
rights: Copyright (c) 2026 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2026-02-12
publication date: 2026-02-12
starting page: 40
ending page: 56
doi: 10.3846/bmee.2026.24000

Effects of the moderating role of trendiness on brand image, E-WOM, brand attitude and online purchase intention
type: item
description: Purpose – The purpose of the research is to analyse the impact of electronic word-of-mouth (e-WOM), brand image, and consumer attitude on purchase intention, as well as the moderating influence of trendiness on these relationships. Research methodology – The study is quantitative research. Six hypotheses were put forward and tested in the research model. Survey data derived from a sample of 922 participants from Azerbaijan were examined using SPSS in order to evaluate the hypothesis. Findings – According to the main findings, regression tests, it was determined that e-WOM, brand image and attitude towards the brand affect online purchasing intention. However, for the first time in this study, the moderator role of the trendiness variable, which was tested statistically, on the effect of e-WOM, brand image and attitude variables on online purchase intention was carried out. As a result of the analysis, although the moderator role of trendiness in the effect of e-WOM’s online purchase intention and brand image on online purchase intention was found to be significant and positive, the moderator role of trendiness in the effect of attitude on online purchase intention was found to be insignificant. Research limitations – The study exclusively covers Azerbaijan’s fast-food service industry. Also, different people may have different ideas about fast food places, and the brand names in the questions may affect how people answer. Practical implications – This study’s scientific innovation is the first statistical test of the moderating role of the trendiness variable in the effects of e-WOM, brand image, and attitude on online purchase intention. Practical innovation is that data specific to the Azerbaijani fast-food sector can be useful for practitioners in helping brand managers better understand consumer behaviour and develop trend-focused marketing strategies. Originality/Value – This research makes a major addition to was proved for the first time in the literature tha…
subject: Articles
  topic: section
subject: consumer behaviour
  topic: keywords
subject: branding
  topic: keywords
subject: fast food
  topic: keywords
subject: trendiness
  topic: keywords
subject: brand image
  topic: keywords
creator: Rashad Maharramov
creator: Bahman Huseynli
creator: Gözde Kandemir Çomoğlu
rights: Copyright (c) 2026 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2026-02-12
publication date: 2026-02-12
starting page: 17
ending page: 39
doi: 10.3846/bmee.2026.21916

Models for implementing changes in motivational factors
type: item
description: Purpose – the purpose of this article is to present a practical model for supporting motivation in an organization and to demonstrate how aligning employees’ needs with strategic objectives increases work effort, engagement, and overall performance. Research methodology – Conceptual development at the intersection of theory and practice has been examined through a narrative review of the relevant literature, in which the significance of Taylor’s and Weber’s theories, along with contemporary approaches advanced by Stoner and Wankel and by Schermerhorn, is emphasized and integrated with the authors’ empirical managerial experience. Findings – effectiveness hinges above all on the correct sequencing of steps in diagnosing needs and implementing motivational changes. A deep understanding of employees’ unmet needs enables the precise selection of support mechanisms, while a tailored, multi-level managerial approach sustains motivation and more closely aligns individual and organizational goals. Research limitations – the model is conceptual and grounded in literature and the authors’ experience; it lacks systematic, large-sample empirical testing and thus may have limited generalizability across industries and cultural contexts. Practical implications – managers can use the model as a step-by-step guide to: assess employee needs, choose appropriate motivational tools, implement changes in the right order, and maintain motivation as an ongoing, continuous process across all organizational levels. Originality/Value – this contribution integrates classic and contemporary motivation theories into a single, actionable process model. Also emphasizes the often-overlooked importance of implementation sequence and continuity, bridging theoretical insights with practical application.
subject: Articles
  topic: section
subject: motivation
  topic: keywords
subject: motivational factors
  topic: keywords
subject: change model
  topic: keywords
subject: Kurt-Levin
  topic: keywords
creator: Joanna Małecka
creator: Eleftherios Thalassinos
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-09-29
publication date: 2025-09-29
starting page: 339
ending page: 355
doi: 10.3846/bmee.2025.24068

Evaluating the performance of Moroccan social incubators: an SFA analysis of youth platforms under the national initiative for human development
type: item
description: Purpose – This study focuses on the evaluation of youth platforms as an important social incubator of the National Initiative for Human Development (NIHD) in Morocco, particularly to promote social entrepreneurship and support very small enterprises (VSE). Numerous social incubators have been created to support social entrepreneurship and foster innovative and effective socio-economic relations. However, their impact remains limited, raising questions about their performance. Research methodology – Based on a sample of 40 NIHD youth platforms, the stochastic frontier analysis (SFA) method was applied to measure their technical efficiency (TE), and then the determinants of the TE obtained were analysed by a regression using the Tobit model. Findings – The results indicate that management costs (MC), the number of accompanied project holders (APH) and income improvement actions in social and solidarity economy (II- ASSE) have a significant impact on the creation and development of VSE or cooperatives. In addition, the experience of the platform manager has a positive influence on TE, while age has no significant effect. Research limitations – The conclusions of the study may not be entirely applicable to the current situation of NIHD youth platforms in Morocco, because they are based on data available at a time conditioned by an exceptional context (e.g., post-covid; government austerity policy, etc.). Practical implications – This study provides public policymakers and platform managers with actionable insights into optimizing resource use and improving platform operations. Policy-makers can use the findings to allocate funding more effectively, prioritize support services like income improvement actions, and identify platforms that serve as benchmarks for best practices. Additionally, the study highlights the importance of experienced platform managers, guiding recruitment and training policies to improve platform outcomes. Originality/Value – The study paves the wa…
subject: Articles
  topic: section
subject: development
  topic: keywords
subject: incubator
  topic: keywords
subject: SFA
  topic: keywords
subject: social entrepreneurship
  topic: keywords
subject: technical efficiency
  topic: keywords
creator: Younes El Maaqili
creator: Mariam Tlemcani Mhandez
creator: Abdessamad Ouchen
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-06-19
publication date: 2025-06-19
starting page: 243
ending page: 264
doi: 10.3846/bmee.2025.22086

Alignment of innovation diffusion and project management to increase logistics digitalization
type: item
description: Purpose – This paper examines how integrating Innovation Diffusion Theory (IDT) with structured project management frameworks enhances digital technology adoption in logistics, addressing challenges in ineffective implementation. Research methodology – A mixed-methods approach combines qualitative interviews with logistics executives and technology experts with quantitative analysis of adoption trends using case studies and industry data. Findings – Results highlight the complexity of digital technologies and emphasize aligning decision-making frameworks – Agile, Scrum, Kanban, and Waterfall – with organizational goals to improve digital transformation. Structured project management methodologies help firms manage complexity, mitigate risks, and optimize project execution. Research limitations – The study does not analyze all technology complexity levels or include all digital solutions in logistics. Additionally, not all technologies were linked to expert-identified success factors, limiting generalizability. Future research could use longitudinal or case-study approaches to explore long-term impacts. Practical implications – Integrating IDT with project management frameworks and the Stacey Matrix helps logistics firms overcome adoption barriers and improve implementation success. Originality/Value – This research provides empirical evidence on structured decision-making in digital adoption. By integrating expert insights and correlation analysis, it offers practical recommendations for optimizing innovation diffusion, mitigating risks, and aligning technology implementation with strategic goals in a rapidly evolving digital landscape.
subject: Articles
  topic: section
subject: innovation diffusion theory
  topic: keywords
subject: digital transformation
  topic: keywords
subject: logistics
  topic: keywords
subject: project management frameworks
  topic: keywords
creator: Diana Daškevič
creator: Aurelija Burinskienė
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-07-17
publication date: 2025-07-17
starting page: 265
ending page: 279
doi: 10.3846/bmee.2025.23680

Determinants of the sustainability of capability-based culinary businesses: evidence from urban areas in Central Java Province
type: item
description: Purpose – Amidst the increasing public awareness of the need for environmentally friendly products and social concerns, sustainability practices can be utilized as a source of competitive advantage for businesses in the culinary industry. The purpose of this study is to investigate the effects of entrepreneurial marketing, transformation capability, and financial capability on sustainability. Research methodology – This study was based on field survey data involving 315 culinary business actors in the cities of Semarang, Salatiga, and Surakarta, Central Java Province. The data analysis used the Partial Least Squares Structural Equation Modeling (PLS-SEM) method. Findings – The determinants of sustainability predicted through the formulation of nine hypotheses are mostly proven empirically. Entrepreneurial marketing, transformation capability, and financial capability are demonstrated to have a positive effect on all dimensions of sustainability including economic, environmental, and social performance. Research limitations – The objects of this research were limited to culinary business actors in urban areas so that only limited generalizations could be made. Future studies can be directed to involve business actors in rural areas so that they can capture the dynamics of sustainability practices better. Practical implications – A policy that can be proposed based on research findings to the government in order to improve sustainability practices is to improve the capabilities of culinary business actors through training and mentoring that emphasize the importance of creating customer value, renewing company operations, and having financial literacy. Originality/Value – This study fills the research gap by introducing a capability-based sustainability determinant model.
subject: Articles
  topic: section
subject: sustainability
  topic: keywords
subject: entrepreneurial marketing
  topic: keywords
subject: transformation capability
  topic: keywords
subject: financial capability
  topic: keywords
subject: culinary business
  topic: keywords
creator: Supramono Supramono
creator: Dhoni Rizky Widya Mahardhika
creator: Utami Puji Lestari
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-06-18
publication date: 2025-06-18
starting page: 209
ending page: 223
doi: 10.3846/bmee.2025.21987

Culinary resilience in a globalized world: how social norms negotiate tradition and adaptation
type: item
description: Purpose – This study investigates how macro-level forces and micro-level cultural constructs shape food culture resilience in different societies. It bridges the knowledge gaps between cultural preservation and adaptation. Research methodology – PLS-SEM methodology was adopted in the survey data of six countries. Bootstrapping verified path coefficients and model robustness. Findings – Cultural Openness supports Heritage, preventing globalization from disempowering myths. Social Pressure drives food culture resilience (FCR) in collectivistic cultures yet is diluted in individualistic settings. Taboos subside in secular/pluralistic settings, replicating trends for moral flexibility. Enhanced predictivity for institutionally institutionalized civilizations facilitates easier observation by the models of modest to considerable FCR variation. Research limitations – Cross-sectional data limit causal inferences. Unmeasured variables could also affect outcomes in transition countries. Practical applications – Strategies should be implemented with cultural correctness by policymakers and marketers. For instance, leveraging openness to redefine traditions in multicultural settings, framing dietetic interventions as collective efforts in collectivist contexts, and customizing products with flexible ethical schema in secular settings. Originality/Value – This research fills macro-micro cultural theory gaps, suggesting “adaptive preservation” as a driver of traditions in a globalizing world. This research shakes homogenization discourses, providing a rich model for cultural.
subject: Articles
  topic: section
subject: cultural hybridity
  topic: keywords
subject: social pressure
  topic: keywords
subject: adaptive preservation
  topic: keywords
creator: Mangirdas Morkūnas
creator: Yufei Wang
creator: Lucia Vilčekova
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-10-13
publication date: 2025-10-13
starting page: 381
ending page: 397
doi: 10.3846/bmee.2025.23632

Evaluating the effectiveness of the Czech national bank’s monetary policy: a longitudinal study since 1997
type: item
description: Purpose – 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.
subject: Articles
  topic: section
subject: Czech National Bank
  topic: keywords
subject: monetary policy
  topic: keywords
subject: inflation targeting
  topic: keywords
subject: two-week repo rate
  topic: keywords
subject: VAR modeling
  topic: keywords
creator: Florin Aliu
creator: Pavel Rousek
creator: Artor Nuhiu
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-09-10
publication date: 2025-09-10
starting page: 316
ending page: 338
doi: 10.3846/bmee.2025.22165

Human capital and organisational outcome: mediation and moderation model
type: item
description: Purpose – This study aims to investigate organisational values as moderators and playful work design as mediators in the relationship between human capital and organisational outcomes in service industry in Indonesia, utilizing quantitative analysis. Research methodology – Purposive sampling was used to retrieve data from 305 respondents using a self-reported questionnaire. The data is analysed using the macro PROCESS using model 5. Findings – The results indicate the direct influence of human capital on organisational outcomes, mediation, playful work design, and moderation of organisational values. The findings of this study reinforce that applying high organisational values and effective human capital management can optimise organisational outcomes through playful work design. Research limitations – This research was carried out with one questionnaire distribution, future research need to conduct longitudinal studies to be known under different conditions and times in another industry. Practical implications – Manager’s must carry out digital transformation and human capital to survive and become winners amid today’s tight service industry competition by encouraging organisational values and supporting playful work design. Originality/Value – This study investigated six dimension of human capital which are suitable in the industrial era 4.0 for manager’s in service industry and its impact on organisational out- come with mediation and moderation analysis.
subject: Articles
  topic: section
subject: human capital
  topic: keywords
subject: organisational values
  topic: keywords
subject: organisational outcome
  topic: keywords
subject: playful work design
  topic: keywords
creator: Sri Palupi Prabandari
creator: Masyhuri Masyhuri
creator: Setya Ayu Rahmawati
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-06-18
publication date: 2025-06-18
starting page: 224
ending page: 242
doi: 10.3846/bmee.2025.21133

Evaluating financial viability of boilers in palm oil mills under processing capacity variability: a case study approach
type: item
description: Purpose – This study evaluates the financial feasibility of boiler investments in palm oil mills, examining the variability in processing capacities resulting from seasonal yields and operational constraints. Research methodology – A case study was conducted at a palm oil mill in Indonesia, assessing five investment scenarios through sensitivity analysis to compare repair and new boiler strategies at capacities of 48, 51, and 58 tons of FFB per hour. Financial metrics including Net Present Value (NPV), Internal Rate of Return (IRR), and payback period were employed. Findings – Results exhibit that repairing the boiler, specifically at a capacity of 58 tons/hour, provides the greatest financial returns, with a Net Present Value (NPV) of USD 9.5 million and an Internal Rate of Return (IRR) of 21%, surpassing investments in new boilers. Scenario 5 demonstrated the highest financial resilience in response to variations in costs and revenues. Research limitations – This research is based on financial assumptions and a singular case study context. Wider generalizations necessitate analysis across various operational contexts. Practical implications – The findings provide decision-making tools for palm oil mills to optimize capital expenditure in relation to capacity variability and cost efficiency. Originality/Value – This research incorporates operational variability into financial modeling, offering a novel perspective on boiler investment strategies within the palm oil sector.
subject: Articles
  topic: section
subject: financial feasibility
  topic: keywords
subject: boiler investment
  topic: keywords
subject: palm oil mill
  topic: keywords
subject: processing capacity
  topic: keywords
creator: Arief Suardi Nur Chairat
creator: Lokman Abdullah
creator: Ade Caswito
creator: Galuh Adi Pangestu
creator: Muhammad Hamdi Kefli
creator: Muhammad Hafidz Fadzli Md Fauadi
creator: Mohd Shahrieel Mohd Aras
rights: Copyright (c) 2026 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2026-02-12
publication date: 2026-02-12
starting page: 1
ending page: 16
doi: 10.3846/bmee.2026.23679

Utilizing flexible working arrangement into organizational citizenship behavior: a double mediation model
type: item
description: Purpose – The current study aimed to investigate the role of career cushioning and work-life balance (WLB) as mediators in the effect of flexible work arrangements (FWA) on organizational citizenship behavior (OCB). Research methodology – Data were collected from 270 employees working in different multi-financial companies. To test the hypotheses, this study employed SEM-PLS. Findings – The results indicate that flexible working arrangement is a key factor to foster organizational citizenship behavior. Subsequently, the study highlights the importance role of career cushioning and work life balance as the mediator. Research limitations – This research was carried out on the multi-financial sector in one country and specific generation, thus, the findings’ generalization is lacking. Practical implications – This study suggested that companies or human resource teams pay attention to career cushioning and work-life balance to encourage OCB through FWA policy for millennial and Generation Z employees. Originality/Value – The uniqueness of the Millennials and Generation Z presents a complex challenge, particularly for multi-financial companies. Therefore, it is essential to establish clear career levels and ensure a balance between personal and work life. Empirical research that explores the implication of flexible working arrangement in fostering organizational citizenship in specific generation is lacking, reported solely on manufacturing companies and across generations. Meanwhile, the multi-financial sector, especially in developing countries, is understudied. Consequently, the initial study leads the examination of flexible working arrangements’ role in fostering organizational citizenship behavior in millenial and Z Generation.
subject: Articles
  topic: section
subject: flexible working
  topic: keywords
subject: career cushioning
  topic: keywords
subject: work life balance
  topic: keywords
subject: organizational citizenship behavior
  topic: keywords
creator: Noermijati Noermijati
creator: Daniyatul Farhiya
creator: Desi Tri Kurniawati
creator: Ferrial Rosita
creator: Masyhuri Masyhuri
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-07-17
publication date: 2025-07-17
starting page: 280
ending page: 301
doi: 10.3846/bmee.2025.22837

The role of outdoor advertising in consumer behaviour in implementing the goals of sustainable development: a case study of Lithuania
type: item
description: The article discusses the possibilities of managing consumer behavior in the context of implementing the goals of sustainable development formation through outdoor advertising and the assessment of the impact of outdoor advertising on consumer behaviour formation. Research objective – to determine the impact of outdoor advertising in consumer behaviour in implementing the goals of sustainable development. The research methods employed include descriptive analysis, quantitative analysis, and statistical techniques. The research was conducted from September 10, 2024, to September 24, 2024, based on a Lithuanian case study (N = 396). When applying a quantitative research strategy the obtained highest average estimates show that illuminated signs, advertising on outdoor video screens and large format posters in advertisements spread the message and have a great impact on consumer behaviour when implementing the goals of sustainable development. It was also found out that according to the majority of participants, the images in advertising (pictures, paintings, etc.), advertising design and outdoor advertising originality, as well as advertising content and its informative nature are the factors shaping consumer behaviour when implementing the goals of sustainable development. The use of a convenience sample, coupled with an imbalance in terms of gender and age distribution, limited the generalizability of the conclusions. There- fore, the spheres of further researches could be expanded with more representative samples and including the elements of qualitative method into the survey (e.g., open questions, group discussion (in Focus group) etc.), regression modelling and factor analysis would provide more insights and supplement quantitative conclusions. The research results provided valuable in- sights about the role of different types of outdoor advertising and its impact on consumers of different ages when implementing the goals of sustainable development and on the ba…
subject: Articles
  topic: section
subject: managing consumer behaviour formation
  topic: keywords
subject: outdoor advertising
  topic: keywords
subject: sustainable development
  topic: keywords
creator: Kristina Samašonok
creator: Aldona Jarašūnienė
creator: Margarita Išoraitė
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-09-29
publication date: 2025-09-29
starting page: 356
ending page: 380
doi: 10.3846/bmee.2025.23279

Evaluating the factors affecting dairy commodity returns: the case of European dairy markets
type: item
description: Purpose – motivated by the price spikes and booms in major commodities markets around the world, this study looks into the factors that affect the variance in returns from dairy futures contracts. The purpose of the study is to determine whether dairy commodity prices – especially in times of economic turmoil – are being driven away from their fundamental value. The study focuses on European dairy futures markets, which are less studied by other authors in their research and are at a nascent stage of development in comparison to other agricultural commodity markets. The study includes various determinants such as energy prices, major stock indices, as well as market related variables such as financial speculation, in order to test whether returns from dairy commodities can be explained solely by macroeconomic factors or if this impact is amplified by trade volume or financial speculation within these markets. Therefore, the paper aims to assess the determinants of dairy futures prices before and after 2020, when the COVID-19 pandemic began and was followed by the war in Ukraine. Research methodology – the authors analyse dairy commodities traded on the European Energy Exchange (EEX) and employ the generalised autoregressive conditional heteroskedasticity (GARCH) modelling, as well as the Augmented Dickey-Fuller (ADF) and Granger non-causality tests to analyse what drives the returns from dairy commodity futures and the direction of this impact. The study consists of two-time frames: before and after the COVID-19 pandemic. Findings – an important finding from the study is that returns from dairy commodities are mostly explained by macroeconomic variables when analysing the post-2020 timeframe. Dairy commodities also experience asymmetric return volatility, showing that in dairy markets, negative returns are followed by reduced volatility. However, the role of trade volume or financial speculation on dairy commodity returns is found to be mixed or that it has an effec…
subject: Articles
  topic: section
subject: dairy commodities
  topic: keywords
subject: dairy futures
  topic: keywords
subject: financial speculation
  topic: keywords
subject: return volatility
  topic: keywords
creator: Algirdas Justinas Staugaitis
creator: Česlovas Christauskas
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-09-10
publication date: 2025-09-10
starting page: 302
ending page: 315
doi: 10.3846/bmee.2025.21568

Strategic modeling of enterprise business processes for successful digital transformation
type: item
description: Purpose – the purpose of this study is to develop a methodology for modelling business processes based on the principles of process management and the use of modern information technology in order to improve the efficiency and quality of the enterprise. Research methodology – in this work we applied the methodology of business process analysis and optimisation based on the decomposition principle proposed by the SADT methodology. Findings – the result of the study was the development of practical recommendations for enterprises seeking to improve the efficiency of their activities and adapt to rapidly changing market conditions. The proposed methodology of business process modeling allows organi- zations not only to standardize and optimize their processes, but also to respond flexibly to changes in the external environment and maintain competitiveness. Research limitations – The study focuses primarily on SADT and IDEF0 methodologies, which may limit consideration of other potentially effective approaches to business process mode- ling. Future research may include a comparative analysis of different business process modeling methodologies to determine their relative effectiveness and applicability in different contexts. Practical implications – overall, this study makes a significant contribution to the development of modern business process modeling methodology, providing practical tools and recommendations for organizations seeking to improve their performance and sustainability in a rapidly changing business environment. Originality/Value – the novelty of this study lies in the development of an integrated methodology of business process modeling based on the principles of process management and modern information technologies. In contrast to earlier studies emphasizing individual aspects of process management or specific technologies, our study offers an integrated approach combining both managerial and technological elements.
subject: Articles
  topic: section
subject: business process modeling
  topic: keywords
subject: process management
  topic: keywords
subject: information technology
  topic: keywords
subject: enterprise efficiency
  topic: keywords
subject: digitalization
  topic: keywords
creator: Elvira Rustenova
creator: Aizhan Ibyzhanova
creator: Nazym Akhmetzhanova
creator: Gulnar Talapbayeva
creator: Zhanat Yerniyazova
creator: Aizhamal Aidaraliyeva
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-04-25
publication date: 2025-04-25
starting page: 148
ending page: 163
doi: 10.3846/bmee.2025.21587

Applying the mean-variance framework: portfolio optimization and comparative performance analysis in the emerging Colombian capital market
type: item
description: Purpose – this paper adopts the mean-variance approach in optimizing portfolios within the Colombian capital market, a setting full of complications such as lack of liquidity and market concentration. It delivers actionable messages for emerging market stakeholders and formulates guidance aimed at enhancing risk-adjusted returns and informing portfolio management in markets with similar structural and economic conditions. Research methodology – a bi-objective mean-variance model has been used for analyzing the stock prices of 17 stocks on a weekly basis from 2009–2024. Annual rebalancing has made the portfolio responsive to changes in the market, considering the Sharpe ratio as the benchmark to assess risk-adjusted performance. Findings – optimized portfolios in Colombia outperformed traditional investment funds by realizing better returns while having a balanced risk. Surely, this shows that the model is able to be flexible and react to changes in fluctuation, capture sectoral opportunities, and perform amazingly in a dynamic market. Research limitations – focusing on adaptability and real-time rebalancing in this work can establish a basis on which future research will operate, refining optimization strategies that incorporate advanced risk measures such as CVaR. Practical implications – the results present an effective and flexible tool for investors to optimize their portfolios in respect of risk diversification and sustainable returns, considering liquidity constraints and market turmoil. Originality/Value – this research connects theory and practice and demonstrates the flexibility of the mean-variance model in emerging economies. It emphasizes novelty in portfolio optimization solutions and further development of strategies in sophisticated financial conditions.
subject: Articles
  topic: section
subject: portfolio selection
  topic: keywords
subject: diversification
  topic: keywords
subject: efficient frontier
  topic: keywords
subject: mean-variance
  topic: keywords
subject: Colombia stock market
  topic: keywords
creator: Jairo González-Bueno
creator: Rima Tamošiūnienė
creator: Camilo Gómez Morales
creator: Gladys Rueda-Barrios
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-06-13
publication date: 2025-06-13
starting page: 164
ending page: 188
doi: 10.3846/bmee.2025.22695

The link between the shadow economy and the happiness economy in EU euro area countries
type: item
description: Purpose – the aim of this study is to assess the relationship and influence between the shadow economy and the level of happiness in the Euro area economies of the European Union by highlighting the theoretical assumptions behind the concept and expression of the shadow economy and happiness. Research methodology – to calculate the size of the shadow economy will be used Gutmann’s index. To calculate the happiness of the economies will used the Happiness Economy Index from the World Happiness Report (2022) including the following 6 indicators (GDP per capita, healthy life expectancy (that derives to life expectancy and mental health evaluation), social support, freedom index, generosity (do-nations to charity), and corruption index. To determine the relationship between the shadow and happiness economy, the Granger causality method. Research limitations – the study’s limitations include data reliability and accuracy, methodological limitations, geographical and cultural differences, and time constraints. The estimation of the size of the shadow economy and the happiness economy index may contain inaccuracies, and the Granger causality method cannot fully confirm causality. The study is limited to the euro area countries of the European Union; therefore, the results may not be fully applicable to other countries. Additionally, the data may not fully capture long-term trends or developments. Practical implications – the results of this study can help policymakers and economists better understand how to reduce the size of the shadow economy and thereby increase people’s happiness. The study’s findings indicate a positive correlation between a country’s Happiness Economy Index and the size of its shadow economy. This suggests that investing in people’s well-being can positively impact the formal economy. Furthermore, the study’s findings can inform the development of effective strategies to combat the informal economy. For instance, strategies such as enhancing social s…
subject: Articles
  topic: section
subject: happiness economy
  topic: keywords
subject: shadow economy
  topic: keywords
subject: Gutmann’s index
  topic: keywords
subject: Granger causality
  topic: keywords
subject: Happiness Economy Index
  topic: keywords
creator: Žaneta Karazijienė
creator: Miglė Eleonora Černikovaitė
creator: Eglė Kazlauskienė
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-04-08
publication date: 2025-04-08
starting page: 132
ending page: 147
doi: 10.3846/bmee.2025.22899

An exploratory study of high-educated poverty through machine learning approach: a case study of East Java, Indonesia
type: item
description: Purpose – the purpose of the article is to compare the importance factors for high-educated poverty modeling in the four cultural regions of East Java. Research methodology – using data from the Indonesian National Survey, this study employs Random Forest (RF), Extreme Gradient Boosting (XGBoost), Artificial Neural Network (ANN), and K-Nearest Neighbor (KNN) algorithms as classification methods in machine learning. Findings – the analysis results show that all agorithms has high accuracy with XGboost as the best performing model. The number of household members and the use of internet technology are among the most important variables affecting high-educated poverty in each cultural region in East Java. Research limitations – the research was exclusively carried out in East Java, Indonesia, potentially restricting its applicability to other geographical areas or nations. Additionally, it relied on cross-sectional data, implying that a causal relationship between the independent and dependent variables cannot be inferred. Practical implications – based on the results of this analysis, it is recommended that the government and related parties focus more on improving access to education and the internet in cultural areas in East Java. Originality/Value – this study addresses a significant knowledge gap by exploring regional variations in the factors affecting high-educated poverty, emphasizing the importance of tailored strategies for each cultural region in East Java.
subject: Articles
  topic: section
subject: higher education
  topic: keywords
subject: machine learning
  topic: keywords
subject: poverty
  topic: keywords
creator: Dias Satria
creator: Risti Permani
creator: Kodrad Winarno
creator: David Kaluge
creator: Citra Rahayu Indraswari
creator: Radityo Putro Handrito
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-03-21
publication date: 2025-03-21
starting page: 92
ending page: 107
doi: 10.3846/bmee.2025.20808

The capacity of absorption and the management of human resources in asymmetrical strategic alliances: the case of Moroccan SMEs
type: item
description: Purpose – The aim of this work is to analyze human resources mechanisms in order to enhance the absorption capacity of SME in strategic alliances with foreign partners, the goal being to favor the transfer of know-how to these enterprises. Research methodology – The methodology applied is quantitative, based on a questionnaire addressed to 108 SME. SPSS 25 software was used to analyze the result. Findings – The results of the study underline the critical role employees’ play in the knowledge transfer process by dwelling on the need of an absorption and assimilation capacity since businesses with such capacities are conducive to the acquisition, putting into use and development as well as the creation of new skills and know-how. Research limitations – The quantitative approach of this research could be complemented by qualitative analysis. Additionally, generalizing the results from a sample of SMEs opens avenues for future research in other developing countries. Temporal and contextual extension could also enhance the relevance of the conclusions. Practical implications – Our results could be used to provide key indicators for managers of SMEs engaged in strategic alliances. The guidelines aim to streamline the transfer, acquisition, and development of new skills and know-how from foreign partners. Originality/Value – This study innovatively clarifies the administration of human resources in SMEs’ in asymmetrical strategic alliances, offering valuable insights for research into management practices.
subject: Articles
  topic: section
subject: absorption capacity
  topic: keywords
subject: strategic alliances
  topic: keywords
subject: human resources management
  topic: keywords
subject: transfer of knowledge
  topic: keywords
creator: Ahmed El Hammoumi
creator: Nabil Seghyar
creator: Mohammed El Hammoumi
creator: Adil El-Ouali
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-03-21
publication date: 2025-03-21
starting page: 108
ending page: 131
doi: 10.3846/bmee.2025.21166

Taxation of electronic commerce and digital business in the conditions of global convergence economics
type: item
description: Purpose – Identify the relationship between the amount of taxes and their payment by a digital enterprise and develop recommendations for improving the quality of e- commerce taxation. Research methodology – On the basis of dialectical and systematic methods, the influence of the amount of the tax on filling the budgets of countries and the expansion of digital activities of enterprises was investigated. The spatial set of the study is economic agents of the EU and the USA who use the Internet for their business activities. The possibilities of conducting e- business in 15 countries of the world were studied. The time frame of the study is 2015–2025. Findings – The tax on digital products/services and virtual business is characterized through the prism of the amount of the tax, the procedure for its collection, and the amount of revenue to the budgets. Research limitations – The limitation of the study is that not all countries of the world that carry out e-commerce or engage in digital business have an open and regulated policy of taxation. Practical implications – The content of practical advice, the use of which will make it possible to maintain positive dynamics in the taxation of digital entrepreneurship, has been revealed. Originality/Value – After analyzing the graphical interpretation of the Laffer curve for digital entrepreneurship, we managed to find out that higher tax rates restrain the economic activity of digital enterprises.
subject: Articles
  topic: section
subject: taxation of digital business
  topic: keywords
subject: taxes on digital services
  topic: keywords
subject: digital entrepreneurship
  topic: keywords
subject: e-commerce
  topic: keywords
subject: principles of taxation
  topic: keywords
creator: Kateryna Kraus
creator: Nataliia Kraus
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-06-17
publication date: 2025-06-17
starting page: 189
ending page: 208
doi: 10.3846/bmee.2025.22155

Will the use of cashless subsidy potentially reduce illegal underground economy activity? A case study in Indonesia
type: item
description: Purpose – This study was conducted to understand the potential of cashless subsidy to reduce illegal underground economy activity in Indonesia. Research methodology – The research was done through a qualitative approach then analyzed based on the content analysis and sentiment analysis using Digital Public Services Index frim Digital Economy and Society Index (DESI) research methodology as base. The data used on this study are Indonesia e-news on kompas.com, detik.com, and tempo.co from March 2021- 2022 using two keywords “subsidi” (subsidy), “non-tunai” (cashless) and “nirsentuh” (contactless). Findings – The result of this study shows illegal underground economy activity can be reduced by implementing cashless subsidy policy. Research limitations – The data used on the research were big data obtained from e-news be- cause the lack primary reliable respondent. We could not estimate the cashless subsidy after COVID-19 was ended in Indonesia because the declaration of the end of COVID-19 pandemic in Indonesia was on 29 June 2023. Practical implications – This study also provides two recommendations for those problems: (a) increase digital financial literacy awareness; (b) improve the formal economy activity. Originality/Value – There still no specific research of cashless subsidy and their practice in shad- ow economy perspective, especially in developing countries such as Indonesia.
subject: Articles
  topic: section
subject: cashless economy
  topic: keywords
subject: subsidy
  topic: keywords
subject: underground economy
  topic: keywords
creator: Joshi Maharani Wibowo
creator: Sugeng Hariadi
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-02-14
publication date: 2025-02-14
starting page: 67
ending page: 91
doi: 10.3846/bmee.2025.19967

Employee commitment in Ghanaian healthcare: a multi-factor analysis
type: item
description: Purpose – The study investigates the factors influencing organizational commitment among employees at a Municipal Health Directorate (MHD) in Ghana. It focuses on identify- ing key organizational and individual factors that drive commitment and examining potential gender differences. Research methodology – A quantitative approach was employed, using a cross-sectional survey of 204 MHD employees, with a final sample size of 153. A structured questionnaire measured organizational commitment and influencing factors. Multiple regression analysis was used to examine relationships between variables. Findings – Key drivers of commitment include training and development, salary, leadership style, work environment, job satisfaction, and involvement in decision-making. Training and development were the strongest predictors of commitment, while job-related stress negatively influenced commitment. No significant gender differences in commitment were found. Research limitations – The cross-sectional design limits causality. Future research should adopt longitudinal designs to track changes in commitment over time and explore gender differences in other contexts. Practical implications – The findings emphasize the importance of investing in employee development, fostering supportive leadership, managing job stress, and involving employees in decision-making to enhance commitment. Originality/Value – This study provides valuable insights into the determinants of employee commitment in healthcare, contributing to the limited research on organizational commitment in resource-constrained healthcare settings in Ghana.
subject: Articles
  topic: section
subject: organizational commitment
  topic: keywords
subject: employee engagement
  topic: keywords
subject: healthcare sector
  topic: keywords
subject: leadership style
  topic: keywords
subject: job satisfaction
  topic: keywords
creator: Emmanuel Erastus Yamoah
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-02-11
publication date: 2025-02-11
starting page: 44
ending page: 66
doi: 10.3846/bmee.2025.22414

How macroeconomic factors impact residential real estate prices in Eastern Europe
type: item
description: Purpose – This study examines how GDP growth, interest rates, and unemployment rates influence residential real estate prices in politically and economically stable Eastern Euro- pean countries, aiming to identify key drivers of property value changes in the region. Research methodology – The study uses multiple linear regression and Pearson correlation (r) to assess the relationship between variables and housing prices, with ARIMA (3,1,0) applied for short-term price forecasts based on cyclical time series trends. Findings – The findings show a strong correlation between macroeconomic indicators and residential real estate prices, with the key influencing factor varying by country, reflecting diverse market sensitivities and regional economic contexts. Research limitations – The research is limited to Eastern European countries with stable political and economic conditions, excluding those facing instability. Future studies could expand the analysis to include such regions to provide a more comprehensive view. Practical implications – The results provide valuable guidance for policymakers and investors in crafting strategies tailored to specific macroeconomic conditions, enhancing market predictions and stability. Originality/Value – By focusing on the underexplored residential real estate market in Eastern Europe, this study contributes novel insights into regional housing price determinants and offers a foundation for further research on macroeconomic impacts in real estate markets.
subject: Articles
  topic: section
subject: real estate
  topic: keywords
subject: macroeconomic
  topic: keywords
subject: prices
  topic: keywords
subject: interest rates
  topic: keywords
subject: unemployment rate
  topic: keywords
subject: GDP growth
  topic: keywords
subject: Europe
  topic: keywords
creator: Laima Okunevičiūtė Neverauskienė
creator: Dominykas Linkevičius
creator: Daiva Andriušaitienė
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-02-11
publication date: 2025-02-11
starting page: 30
ending page: 43
doi: 10.3846/bmee.2025.22663

The need for financial education in the face of the social media and cryptocurrency phenomenon
type: item
description: Purpose – is to provide evidence of how social networks act as an indispensable channel in the cryptocurrency phenomenon and its public perception, analysing the context in which it occurs, as well as the patterns followed and the most commonly used channels. Research methodology – this article explores and provides evidence on the relationship between cryptocurrencies and social networks through the use of digital social listening tools, exploring data retrieved from the most prominent social networks, as well as websites, forums and blogs. Findings – the urgent need to provide an adequate level of financial education in the digital economy. Research limitations – the study should be carried out by age segments to assess whether it is only a problem of the younger population, which are the habitual users of social networks. Practical implications – the cryptocurrency user or investor is aware of the existing risks associated with cryptocurrencies, especially among the young population, without underestimating the influence that social networks have had and continue to have on the perception and acceptance of digital currencies, and even on their popularity. Originality/Value – investing in cryptocurrencies requires social responsibility on the part of institutions, demanding adequate legislation and financial training for potential investors.
subject: Articles
  topic: section
subject: cryptocurrencies
  topic: keywords
subject: financial education
  topic: keywords
subject: social listening
  topic: keywords
subject: sentiment analysis
  topic: keywords
subject: social networks
  topic: keywords
creator: Sonia Martin Gomez
creator: Angel Bartolome Muñoz de Luna
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-01-30
publication date: 2025-01-30
starting page: 14
ending page: 29
doi: 10.3846/bmee.2025.20296

The role of networking competencies in social enterprise performance
type: item
description: Purpose – The goal of this research was to identify the need for networking competencies in social enterprises rated by the managerial personnel of social enterprises and academic staff of universities in Latvia. Research methodology – A survey among representatives of Latvian social enterprises and academic staff of Latvian higher education institutions (HEIs) was conducted. The data was processed by means of average ranking, Kruskal-Wallis H test, and one-way-ANOVA test. Findings – The analysis of the results of Latvian survey revealed that: 1) social enterprise per- sonnel and university academic staff rated the role of networking competencies in social enterprise performance differently; 2) social enterprises rated cooperation with local governments higher and with industry associations as less important than the group of university academic staff. Research limitations – The research is limited to the analysis of only networking competencies. Practical implications – The research results contribute to the institutional framework for the social entrepreneurship ecosystem through recommendations to universities in creating training programmes of social entrepreneurship competencies. Originality/Value – The conducted empirical study is the first study of its kind in the Latvian social enterprise ecosystem, and it offers unique data that can be used for planning the development of networking competencies.
subject: Articles
  topic: section
subject: social entrepreneur
  topic: keywords
subject: social entrepreneurship
  topic: keywords
subject: competencies
  topic: keywords
subject: networking competence
  topic: keywords
subject: Latvia
  topic: keywords
creator: Aija Sannikova
creator: Jelena Titko
creator: Janis Kudins
rights: Copyright (c) 2025 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2025-01-14
publication date: 2025-01-14
starting page: 1
ending page: 13
doi: 10.3846/bmee.2025.21468

Enhancing SME performance through innovation: evidence from a transition economy – Kosovo
type: item
description: Purpose – What are the effects of implementing various types of innovation, including product, process, and technological innovations, on the performance of SMEs in the manufacturing sector? This is a question that preoccupies us a lot. This study seeks to examine the individual and integrated effects of these innovations. Indeed, we examine the impact of three categories of innovation – product, process, and technological innovation – on the performance of SMEs in the manufacturing industry. Research methodology – We used a quantitative approach to execute this research, selecting SMEs at random using self-administered questionnaires. The data collected from 153 manufacturing SMEs was analyzed using hierarchical linear regression to investigate, evaluate, and refine the relation among product, process, and technological innovation and SME performance. Findings – This study’s findings reveal a clear and direct relationship between these three forms of innovation and SMEs’ performance. This study also provides empirical evidence that various forms of innovation, either examined individually or as integrated, exert a positive effect on the performance of SMEs in the manufacturing industry. Limitations – This study focuses on Kosovo-based SMEs, with the assumption of an upright connection between variables. Future studies can examine the existence of reverse causality in a variety of regional, cultural, and industrial settings. Originality/Value – This study significantly advances existing knowledge by providing useful insights into the complex interplay among product, process, and technological innovation (examined from both individual and integrated perspectives) as well as the performance of SMEs in the manufacturing industry.
subject: Articles
  topic: section
subject: product innovation
  topic: keywords
subject: process innovation
  topic: keywords
subject: technological innovation
  topic: keywords
subject: SMEs performance
  topic: keywords
subject: manufacturing industry
  topic: keywords
subject: transition economy
  topic: keywords
creator: Enis Mulolli
creator: Xhavit Islami
creator: Medain Hashani
rights: Copyright (c) 2024 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2024-10-30
publication date: 2024-10-30
starting page: 401
ending page: 420
doi: 10.3846/bmee.2024.21800

Risk profiling question investigation for robo-advisor
type: item
description: Purpose – this study aims to thoroughly investigate by reviewing previous literature on risk assessment queries for robo-advisors, comparing it with three existing robo-advisors and proposing suitable risk assessment questions for robo-advisor. Research methodology – utilize the deductive content analysis technique to examine the risk assessment issue for financial robo-advisors, which is influenced by previous study. Findings – there are nine questions share a similar context both in previous literature and among existing robo-advisors, with income being the most commonly used question. Then, there are three questions that are only asked by the existing robo-advisors: emergency funds, home ownership, and the source of transaction. These findings suggest some additional questions to enhance the effectiveness of risk assessment in robo-advisory services for individuals. Research limitations – only two previous research papers have focused on risk profiling, and three available applications used in this research. Practical implications – the robo-advisor’s developer should take into account various factors such as local culture and economic conditions, financial product knowledge, etc. when crafting diverse risk profiles to provide more precise investment recommendations. Originality/Value – the study is the first research which explore the risk profiling for financial robo-advisor, which used by existing robo-advisor then compared to other countries in the world.
subject: Articles
  topic: section
subject: robo advisor
  topic: keywords
subject: risk profiling
  topic: keywords
subject: fintech
  topic: keywords
subject: literature
  topic: keywords
subject: content analysis
  topic: keywords
creator: Eneng Nur Hasanah
creator: Sudarso Kaderi Wiryono
creator: Deddy P. Koesrindartoto
rights: Copyright (c) 2024 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2024-10-25
publication date: 2024-10-25
starting page: 382
ending page: 400
doi: 10.3846/bmee.2024.21182

Revisiting the dynamics of major cryptocurrencies
type: item
description: Purpose – This study aims to reassess the dynamics of major cryptocurrencies sur-rounding recent economic and geopolitical events. By employing wavelet analysis and quantile regression methods, it seeks to understand the behavior of cryptocurrencies before, during, and after the COVID-19 pandemic. Research methodology – This research employs the Least Asymmetric Daubechies (LA8) wavelet function to decompose log-returns of major cryptocurrencies into various frequency scales. Additionally, it utilizes wavelet coherence and quantile-on-quantile regression techniques to analyze daily price data spanning from July 2017 to May 2024. Findings – The findings reveal a strong long-term association among cryptocurrencies, with a decline in medium-term correlations. Bitcoin exhibits synchronization with major cryptocurrencies, excluding Tether, while BTC-ETH and BTC-BNB display a rapid, interconnected behavior alongside their fundamental links. Moreover, empirical evidence indicates Bitcoin’s heterogeneous nexus with other alternatives, showcasing greater sensitivity to positive extremes over negative ones. Research limitations – The study’s scope is delimited by the selected time frame (July 2017 to May 2024) for data analysis, potentially limiting insights into longer-term trends. Additionally, the reliance on specific methodologies like wavelet analysis might introduce constraints in capturing the entirety of cryptocurrency dynamics, leaving room for alternative interpretations or unexplored aspects. Practical implications – Results suggest that understanding the varying correlations among major cryptocurrencies during different market phases could aid investors and policymakers in devising more nuanced strategies. Recognizing the sensitivity of Bitcoin’s connections with alternatives to market trends could inform risk management approaches, particularly in navigating extreme market conditions. Originality/Value – The originality of this study lies in its comprehensive exa…
subject: Articles
  topic: section
subject: Bitcoin
  topic: keywords
subject: Ethereum
  topic: keywords
subject: cryptocurrencies
  topic: keywords
subject: wavelets
  topic: keywords
subject: co-movement
  topic: keywords
creator: Osman Gulseven
creator: Bashar Yaser Almansour
creator: Jesus Cuauhtemoc Tellez Gaytan
rights: Copyright (c) 2024 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2024-10-17
publication date: 2024-10-17
starting page: 357
ending page: 381
doi: 10.3846/bmee.2024.20426

Does call centers operators’ introjected regulation impact their skill variety and task significance? Evidence from Morocco
type: item
description: Purpose – The aim of this paper was to empirically examine the impact of work motivation represented by introjected regulation on job satisfaction, which was illustrated by skill variety and task significance. This study was conducted relatedly to Moroccan call center operators, in the post-COVID-19 era in which motivational and satisfactory issues are still strongly faced by managers, mainly due to the operated hybrid working systems. Research methodology – The chosen methodology was a quantitative one, based on the administration of a questionnaire to 158 call center operators, working in various Moroccan districts. The data analysis consisted of an exploratory factor analysis (EFA), followed by a full structural equation modelling (SEM). Findings – The findings display that introjected regulation positively and significatively impacts skill variety, but not task significance, in a way that permitted to partly confirm the conceptual model built upon the central hypothesis, claiming that work motivation positively affects job satisfaction. Indeed, avoiding to experience feelings of shame and guilt in addition to seeking for conformity and approbation in a work context turned out to lead individuals to execute the assigned tasks by implementing their personal configuration of skills and talents in this regard. Research limitations – This study admits methodological limitations as for instance the restricted sample size, and the adopted quantitative approach rather than a qualitative one, or even a mixed approach that could have opened more research tracks to be explored regarding the investigated relationship. Practical implications – This study comes out with appealing practical implications willing to help managers to understand better the causality link between work motivation and job satisfaction. The main implication of this study is the illustration of how introjected regulation can predict and foster skill variety in a professional context, as the corresponde…
subject: Articles
  topic: section
subject: causality link
  topic: keywords
subject: job satisfaction
  topic: keywords
subject: post-COVID-19
  topic: keywords
subject: quantitative methodology
  topic: keywords
subject: work motivation
  topic: keywords
creator: Marwa Belhaj Soulami
creator: Sofia Loulidi
rights: Copyright (c) 2024 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2024-05-27
publication date: 2024-05-27
starting page: 174
ending page: 192
doi: 10.3846/bmee.2024.20168

Leadership style preferences in Bangladesh’s SMEs: A study on transformational, transactional, and laissez-faire leadership
type: item
description: Purpose – over the years, small and medium enterprises (SMEs) have grappled with the challenge of adopting appropriate leadership styles domestically and globally. This study, thus, seeks to identify the prevalent leadership styles in Bangladesh’s SME sector, with a specific emphasis on transformational, transactional, and laissez-faire leadership. Research methodology – a positivist research approach was employed to collect and analyse a dataset of 410 samples collected through a self-administered questionnaire survey to different SME owners and managers in Bangladesh. Descriptive statistics were employed for data analyses. Findings – the results revealed that generally SMEs are not recognised with universally accepted leadership style in practice in Bangladesh. Instead, leaders tend to employ all three styles based on individual preferences. Additionally, transformational leadership emerged as the most commonly practiced style, followed by transactional and laissez-faire leadership. Research limitations – the study’s applicability is limited to SME owners and managers, specifically those in urban SMEs within a specific region. Thus, the generalisability of the results to employees and SMEs in rural contexts in Bangladesh presents a challenge. Practical implications – the research insights may be used as valuable guidelines for SME owners and managers in conceptualising leadership styles and their practices, especially in Bangladesh’s SME sector. Originality/Value – the originality of this research lies in addressing a critical issue where many struggle to apply suitable leadership approaches in varying situations.
subject: Articles
  topic: section
subject: transformational leadership
  topic: keywords
subject: transactional leadership
  topic: keywords
subject: laissez-faire leadership
  topic: keywords
subject: SME
  topic: keywords
subject: Bangladesh
  topic: keywords
creator: Manir Hossin
creator: Shah Azam
creator: Shamim Hossain
rights: Copyright (c) 2024 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2024-10-03
publication date: 2024-10-03
starting page: 278
ending page: 296
doi: 10.3846/bmee.2024.19944

Leveraging financial literacy into sustainable business performance: a mediated-moderated model
type: item
description: Purpose – The current study evaluates the linkage between financial literacy and the sustainable business performance model with access to finance and fintech adoption. Further, the moderating role of top management support in the linkage between financial literacy toward access to finance and fintech adoption was verified. Research methodology – This research was conducted in the SME sector in Indonesia. The sample frame were 261 SMEs and 783 respondents from three levels of management. Data was collected in the October-December 2023 period. Data were obtained utilizing Likert-scaled questionnaires and analyzed using SmartPLS. Findings – The results demonstrate that financial literacy is an instrumental driver of access to finance and fintech adoption that promotes sustainability performance. Subsequently, the study highlights the critical role of access to finance and fintech adoption as the mediator and top management support as moderator. Research limitations – The study is solely performed on the SME sector in one country; thus, the findings’ generalization is lacking. Practical implications – SME managers need to upgrade their financial literacy because financially knowledgeable managers are keenly informed of the costs, benefits, and risks related to funding schemes to encourage sustainable performance. Originality/Value – Empirical research that explores the implication of financial literacy on access to finance and fintech adoption in promoting sustainability performance is lacking, reported solely on manufacturing companies and banks. Meanwhile, the SME sector, especially in developing countries, is understudied. Consequently, the initial study leads the examination of financial literacy’s role in enhancing access to finance and fintech adoption to foster the sustainability performance of SMEs.
subject: Articles
  topic: section
subject: financial literacy
  topic: keywords
subject: knowledge
  topic: keywords
subject: fintech adoption
  topic: keywords
subject: sustainable business performance
  topic: keywords
creator: Kusuma Ratnawati
creator: Viktor Koval
creator: I Wayan Edi Arsawan
creator: Yigit Kazancoglu
creator: Iryna Lomachynska
creator: Hanna Skyba
rights: Copyright (c) 2024 The Author(s). Published by Vilnius Gediminas Technical University. http://creativecommons.org/licenses/by/4.0
date: 2024-10-09
publication date: 2024-10-09
starting page: 333
ending page: 356
doi: 10.3846/bmee.2024.21449