Engineering Economics

Transformational Leadership and Innovative Work Behavior: The Role of LMX Theory and Employee Voice Behavior

2024-10-11T01:42:22+03:00

The aim of the study is to advance the understanding of direct and moderated effect between implemented transformational leadership style and employee innovative work behavior. The mediating role of Leader-member exchange theory and employee voice behavior is tested within the relationship of transformational leadership style and innovative work behavior. Respondents to a survey were 544 employees working in organizations in Serbia. Structural equation modeling was run by using Smart partial least square 3. to test the proposed model. Results suggest that transformational leadership style has significantly influenced employee innovative work behavior directly and through moderators as Leader-member exchange theory and employee voice behavior. This study was the first study in the Serbian business context that reveals a highly effective mediating mechanism like: leader-member exchange theory and voice behavior, which exists with transformational leadership style to increase innovative work behavior of employees. Furthermore, this study reveals additional results, like: transformational leadership style was significantly related to leader-member exchange theory and employees voice behavior, then leader-member exchange theory as well as employee voice behavior were significantly related to employees innovative working behavior.

Financial Literacy Metrics for Financial Wellbeing in a Socioeconomic Environment: The FWI Model in a Circular Economy and Climate Finance

2024-07-16T13:08:19+03:00

This research aimed to investigate measurement analyses that could promote sustainable financial literacy practices, thereby enhancing financial well-being in a socioeconomic environment. It focused on examining the factors of the Financial Well-Being Index (FWI) model and identifying gaps in financial literacy within the context of a circular economy and climate finance. Confirmatory Factorial Analysis (CFA) and Structural Equation Modeling (SEM) were employed using data collected from 402 families in Kosovo during the years 2022-2023. The analyses revealed interrelationships among financial literacy, financial well-being, and the socioeconomic environment. Strong financial behavior was associated with a reduced need for financial education, while the lack of financial balance hindered resilience and well-being. Savings positively impacted the quality of life and homeownership. Additionally, the need for financial education positively influenced financial attitude, and financial resilience indirectly affected the financial situation. Financial literacy had both direct and indirect effects on the socioeconomic environment through its impact on financial well-being. The study confirmed the significant role of financial literacy in improving financial well-being and the socioeconomic environment. Future research should evaluate the effectiveness of financial education interventions and explore the relationship between financial literacy, climate policy, and income distribution within the framework of the circular economy and climate finance.

Influence Mechanisms and Spatial Spillover Effects of Technological Innovation on New Urbanization

2024-04-09T02:22:48+03:00

Sustainable and high-level new urbanization cannot be achieved without the drive of technological innovation. By collecting data from 282 prefecture-level cities in China from 2007 to 2020, this paper used a two-way fixed effects model and spatial Durbin model to analyze the influence mechanisms and spatial spillover effects of technological innovation on new urbanization respectively. The research conclusions are as follows: (1) Technological innovation affects new urbanization positively and heterogeneously due to geographical location, city ranking, and city size. The threshold test reflects that the impact of technological innovation on new urbanization has the characteristic of weakening along with crossing double thresholds. (2) Technological and financial constraints are two critical variables that positively moderate how technological innovation affects new urbanization. (3) The spatial effect of technological innovation on new urbanization is significant. However, the impact intensity is inversely proportional to the geographical distance between cities, with an estimated spatial attenuation boundary of approximately 350 kilometers. Therefore, this paper proposes adhering to innovation-driven development, synchronizing the technological market with new urbanization, formulating differentiated policies in different regions, and using locational advantages well.

Environmental Regulation and Corporate Social Responsibility: The Impact of Executive Authority and Equity Concentration Ratio on Technological Innovation

2025-01-30T20:28:54+02:00

During the 75th session of the United Nations General Assembly, the Chinese government presented a proposal indicating its commitment to enhance its independent national contribution by implementing robust policies and measures, with the objective of achieving carbon neutrality by 2060. As the main energy consumption and pollutant emission enterprises, manufacturing enterprises should also take the initiative to grasp the opportunity of carbon neutral development and respond to the national call. In addition, technological progress as a potential solution to environmental pollution, how should enterprises promote technological innovation? These problems need further study. In view of this, this study selects 2011-2020 China a-share manufacturing listed enterprises, using fixed effects model, analyse the impact of environmental regulation, corporate social responsibility, CEO Power and equity concentration on corporate technological innovation. Research shows that environmental regulation, corporate social responsibility, CEO Power and equity concentration all have a significant positive impact on technological innovation, CEO Power and equity concentration play a positive moderating role in the impact of environmental regulation and corporate social responsibility on technological innovation.

Moving Toward Sustainable Finance: Leveraging Environment, Social and Governance (ESG) Performance and Risk Management to Drive Corporate Financing Efficiency

2024-08-08T00:21:26+03:00

The growing demand for companies to adopt environmentally sustainable and ethical practices has led to a greater focus on the organization's environmental, social, and governance accomsplishments. This study aims to investigate the relationship between environmental social and governance (ESG) and corporate financial risk (CFR) on corporate finance efficiency (CFE) in China, using a dataset of 400 Chinese firms registered on the Shanghai and Shenzhen A-share exchanges between 2013 and 2022, the analysis uses a data envelopment analysis (DEA) model with entity-fixed effects regression and a robustness test. The findings show a positive relationship between ESG and corporate finance efficiency, implying that promoting ESG practices can boost corporate financing efficiency. However, the study also found the negative effect of high financial risk on corporate financing efficiency. These findings have significant implications for businesses, investors, and policymakers. Businesses can enhance their long-term financial performance by giving ESG practices top priority and controlling financial risks. Policymakers can utilize these findings to encourage businesses to enhance their ESG practices and risk management to increase overall financing efficiency.

Sustaining in Uncertain Time: Investigating Pension Fund Performance during Market Stress

2024-05-23T16:19:57+03:00

The academic discourse on stress in the global economy and financial markets has ignited discussions regarding regulatory oversight of pension fund management and investment strategies. This study investigates how pension funds (PF) respond to short-term and long-term risks, as well as their recovery periods following market shocks. To address these inquiries, we classify financial market stress, considering both short-term and long-term risks. Utilizing the change point detection technique and Bayesian average (Zhao et al., 2019), we analyse shifts in the dynamics of PF values managed by SEB and Swedbank from 2004 to 2023. The research explores not only timings and the number of change points but also their likelihood over time. Drawdowns, recovery rates, and timing ratios are particularly insightful for assessing PF performance during crises and market disturbances. These findings contribute to the understanding of PF behaviour in various market conditions and underscore the significance of adaptive investment strategies in navigating financial uncertainties.

Examining the Influence of Green HR Practices on Green Organizational Performance: Evidence from Pharmaceutical Sector of Asian Economies

2024-09-30T01:39:10+03:00

The study investigates the relationship of green HR practices with green organizational performance. This paper further analyzes the impact of different dimensions: green performance management, green HR data and analytics, green recruitment and selection, green compensation and evaluation, green succession planning, green training and development, and green HR information systems on green HR practices. This paper examines the mediation of green HR purchasing and environment and eco-design and internal management between green HR practices and organizational performance. The researchers used structured and modified questionnaires and collected 465 responses from the pharmaceutical sector of Asian economies such as China, India, Pakistan, South Korea, and Japan. The researchers employed PLS-SEM modeling using Smart-PLS 4.0 software to analyze the data. The findings of this research demonstrate that green HR practices have a significant and affirmative relationship with green organizational performance. Results further indicate that green performance management, green HR data and analytics, green recruitment and selection, green compensation and evaluation, green succession planning, green training and development, and green HR information systems positively and significantly impact green HR practices. Finally, the findings show that green HR purchasing, environment, eco-design, and internal management significantly mediate between green HR practices and organizational performance. The study's findings have demonstrated a significant theoretical and managerial implication for researchers, academicians, industry practitioners, and policymakers. Moreover, the findings of this study also provide the roadmap to attain one of the most important goals of the sustainable development goals (SDGs) of the United Nations (UN): eco-friendly sustainability.

The Triple Interaction: Environmental Corporate Social Responsibility, Environmental Regulation, and Environmental Commitment in Shaping Environmental Performance in China

2025-01-29T04:19:47+02:00

Growing demands for environmental corporate social responsibility (ECSR) from firms have been brought about by the rise of environmental sustainability and green business management. An increasing number of academics have focused on the impact of ECSR on firm environmental performance (FEP). However, scant attention has been given to environmental commitment (EC) as a mediator and environmental regulation (ER) as a moderator. To bridge this gap, this study checks the impact of ECSR on FEP through EC. Moreover, the relationship between ECSR and FEP was investigated in the presence of ER. The data has been collected from manufacturing companies that operate in China using convenience sampling to disburse questionnaires among respondents. We received 354 valid responses to 560 questionnaires, and 106 responses were incomplete, making an impressive response rate of 76.95 %. The findings of this study reveal that ECSR significantly enhances FEP, indicating that companies engaging in responsible environmental practices can improve their environmental outcomes. It also confirms that EC serves as a mediator in the relationship between ECSR and FEP, suggesting that a firm's dedication to environmental sustainability strengthens the positive impact of ECSR on FEP. Additionally, the study finds that ER negatively moderates the link between ECSR and FEP. This means that stricter environmental regulations might dampen the positive effects of ECSR on a FEP. This study also has limitations and future directions, persuading the researcher to develop new avenues.