Engineering Economics
type: channel
description: The scope of the Engineering Economics journal covers research that examines innovations-driven transformations in business, public, and financial domains, contributing to the qualitative evolution of economies. The journal seeks to explore the antecedents, processes, and outcomes of these transformations to inform managerial and policy efforts aimed at fostering sustainable economic and social development. The journal represents research from disciplines such as economics, finance, business and management, and public management, as long as creative destruction is evident through structural changes, market dynamics, institutional shifts, or innovation-driven economic adjustments. It particularly welcomes studies that analyze the role of organizational, regulatory, and strategic adaptations that reshape industries, financial markets, and public governance. The journal publishes research at macro, meso, and micro levels of analysis, embracing a wide range of empirical methods. However, it does not accept studies based solely on mathematical proofs of economic relationships. The Journal also does not publish papers that address issues primarily relevant to engineering sciences or related technical fields. Conceptual papers are not published unless they take the form of reviews employing quantitative bibliometric analysis methods.
publisher: Kaunas University of Technology
language: en
publication name: Engineering Economics
issn: 1392-2785
items: Herding or Anti-Herding? Understanding Investor Behavior in the Baltic States
items: The Effect of External Environment Factors and Founders’ Characteristics on Digital Platform Start-up Performance. Dynamic Competition Perspectiveive
items: Unpacking Competitive Performance in 5* Hotels: The Joint Effect of Dynamic Managerial Capabilities and Digital Transformation
items: Does Greenwashing Hinder the Contribution of Fintech to Environmental Sustainability? Evidence from BRICS Countries
items: Do Financial Inclusion, Regulatory Quality and Government Effectiveness Matter for Green Development? Evidence from New EU Countries
items: Does Enterprise Digitalization Promote the Green and Low-carbon Transformation and Upgrading? Evidence from A-share Listed Companies in China
items: Specific Risk Modelling Approach Under Permacrisis Conditions: Some Empirical Evidence
items: Ability to Borrow Modeling Techniques for Small and Medium-Sized Enterprises
items: Navigating Technological Change: The Role of Passive Social Policies in Central and Eastern European Labour Markets
items: Is There a Shift in the Intended Tax Compliance During the COVID-19 Outbreak? An Exploratory Study
items: Generational Disparities and Their Impact on Sectoral Labour Demand
items: A Systematic Literature Review of Supply Chain Management Strategies and SME Performance: A Retrospective Analysis, Current Trends and Future Opportunities
items: An Integrating Framework through the Extension of the UTAUT2 Model for Online Banking: A Context from a Two-Staged Approach with PLS-SEM and Fuzzy Z-AHP
items: Environmental Regulation and Corporate Social Responsibility: The Impact of Executive Authority and Equity Concentration Ratio on Technological Innovation
items: The Triple Interaction: Environmental Corporate Social Responsibility, Environmental Regulation, and Environmental Commitment in Shaping Environmental Performance in China
items: “Stylized facts” in Price Dynamics: Do They Matter for ESG Financial Markets?
items: Spillover Effects of Cryptocurrency Volatility on Green Finance
items: Transformational Leadership and Innovative Work Behavior: The Role of LMX Theory and Employee Voice Behavior
items: Event Sentiment and Cross-Country Herding Spillover Effects Using Machine Learning
items: Examining the Influence of Green HR Practices on Green Organizational Performance: Evidence from Pharmaceutical Sector of Asian Economies
items: Endogenous Growth Factors and Economic Development: An In-depth Analysis of the Impact of Investments in R&D and Human Capital on Total Factor Productivity and Export Dynamics
items: Deep Learning Model for Estimation Market Risk in Insurance Sector
items: Moving Toward Sustainable Finance: Leveraging Environment, Social and Governance (ESG) Performance and Risk Management to Drive Corporate Financing Efficiency
items: Beyond Reality: The Role of Innovation in Virtual Sport Events
items: Financial Literacy Metrics for Financial Wellbeing in a Socioeconomic Environment: The FWI Model in a Circular Economy and Climate Finance
items: Do Virtual and the Face-to-face Ways of Working Have an Impact on the Effectiveness of Teams? An Empirical Study in the Context of Multicultural IT Teams
items: Impact of Information and Communication Technologies Penetration on Human Development: Evidence from Economic Community of West African States
items: The Impact of Macroeconomic Factors on the Performance of Commercial Banks: The Case of Lithuania
items: Sustaining in Uncertain Time: Investigating Pension Fund Performance during Market Stress
items: Social Media Content Multimodality and the Level of User Interactions from the Perspective of Facebook and Instagram

Herding or Anti-Herding? Understanding Investor Behavior in the Baltic States
type: item
description: This paper investigates market-wide herding behavior in the stock markets of Estonia, Latvia, and Lithuania, employing measures that assess the proximity of market returns to market consensus. Using a survivor-bias-free dataset of daily stock returns, we document significant anti-herding behavior among investors in Latvia and Lithuania throughout the sample period. Results for the Estonian market vary based on the herding measure chosen. Herding dynamics fluctuate over time, with the COVID-19 pandemic increasing the intensity of the effect in Estonia and Lithuania. Moreover, the deterioration of investor sentiment and stronger funding restrictions are found to amplify herding in these two markets. Estonia's market displays asymmetric behavior, with herding being more pronounced during negative market performance. Collectively, these findings are relevant to management practice since they suggest that it is difficult to extract the desired benefits of international diversification in the Baltic region, especially during market downturns.
subject: Journal General Track
  topic: section
subject: herding behavior
  topic: keywords
subject: COVID-19 pandemic
  topic: keywords
subject: international diversification
  topic: keywords
subject: Estonia
  topic: keywords
subject: Latvia
  topic: keywords
subject: Lithuania
  topic: keywords
creator: Júlio Lobão
rights: Copyright (c) 2025 Engineering Economics
date: 2025-10-23
publication date: 2025-10-23
starting page: 432
ending page: 445
doi: 10.5755/j01.ee.36.4.36704

The Effect of External Environment Factors and Founders’ Characteristics on Digital Platform Start-up Performance. Dynamic Competition Perspectiveive
type: item
description: Digital platform start-ups rely on technological innovations to compete with other start-ups and incumbents. Competition by innovation, so-called dynamic competition, radically changes how start-ups leverage the external environment and founders’ characteristics to create superior performance. Although scholars unveiled the significant role of dynamic competition in entrepreneurial ecosystems, it is little known about how external environment factors and founders' characteristics interact under dynamic competition. This study focuses on the healthcare industry, which is a highly innovative sector where digital platform start-ups face unique challenges and opportunities. Using a sample of 235 digital platform start-ups, this study quantifies the impact of external environment factors and analyses the role of founders’ characteristics through managerial effectiveness. The findings reveal that economic freedom and governance quality may negatively affect performance, while founder characteristics enhance managerial effectiveness and significantly support start-up success. This study contributes to the literature by linking digital entrepreneurship with dynamic competition and offers insights into how start-ups can strategically navigate competitive environments to achieve superior performance.
subject: Journal General Track
  topic: section
subject: digital platform start-ups
  topic: keywords
subject: dynamic competition
  topic: keywords
subject: performance, founders’ characteristics
  topic: keywords
subject: external environment factors
  topic: keywords
creator: Víctor Giménez
creator: Diego Prior Jimenez
creator: Asta Pundziene
creator: Rima Sermontyte-Baniule
rights: Copyright (c) 2025 Engineering Economics
date: 2025-10-23
publication date: 2025-10-23
starting page: 481
ending page: 497
doi: 10.5755/j01.ee.36.4.40941

Unpacking Competitive Performance in 5* Hotels: The Joint Effect of Dynamic Managerial Capabilities and Digital Transformation
type: item
description: Digital transformation in the hospitality sector was accelerated by the COVID-19 pandemic. Strategy scholars discussed dynamic managerial capabilities as capabilities needed to adapt to rapid change and navigate digital transformation to gain a competitive advantage in the hospitality sector. It suggests that by leveraging digital technologies, fostering a culture of innovation, and building agile business ecosystems, hospitality organizations can enhance their competitive position and ensure long-term sustainability in an increasingly digitalized marketplace. The research question of our study is how dynamic managerial capabilities and the adoption of digital technologies affect the competitive advantage of the hospitality sector. We address the research question by deploying a multiple case study research design and collecting data from 5* Hotels in Lithuania. The study finds that the synergy between dynamic managerial capabilities such as data-driven decision-making, connectivity to internal and external networks, also digitally driven operational efficiency, and sustainability-oriented attitudes significantly enhances the competitive performance of 5-star hotels by fostering innovation, strategic alignment, and superior guest value. We also provide insights for 5* hotel owners and managers.
subject: Journal General Track
  topic: section
subject: dynamic managerial capabilities
  topic: keywords
subject: digital transformation
  topic: keywords
subject: digital sustainability
  topic: keywords
subject: competitive performance
  topic: keywords
subject: 5* Hotel
  topic: keywords
subject: case study
  topic: keywords
creator: Aivaras Anuzis
creator: Birute Rakauskiene
creator: Sandra Narmonte
creator: Edita Gimžauskienė
rights: Copyright (c) 2025 Engineering Economics
date: 2025-10-23
publication date: 2025-10-23
starting page: 466
ending page: 480
doi: 10.5755/j01.ee.36.4.39924

Does Greenwashing Hinder the Contribution of Fintech to Environmental Sustainability? Evidence from BRICS Countries
type: item
description: The greenwashing problem arises when companies provide misleading information about environmental sensitivity or exaggerate the sensitivity in question. At this point, it is claimed that financial technologies are seen as a solution to greenwashing. However, it is not known how environmentally friendly fintech companies are, in other words, whether fintech activities are a greenwashing problem. In this regard, this study investigates the effects of fintech on the novel load capacity factor to examine whether fintech creates a greenwashing problem for BRICS countries. In doing this, the period of 1992-2021 is analyzed with the quantile-on-quantile technique. According to empirical findings, financial technology activities harm environmental quality. Therefore, it is concluded that companies carrying out fintech activities for BRICS countries cause the greenwashing so the problem of greenwashing hinders fintech's potential contributions to the environment. Based on the findings, policy recommendations are made to audit companies conducting R&D studies on fintech and to penalize companies that make fake reports.
subject: Journal General Track
  topic: section
subject: FinTech
  topic: keywords
subject: Load capacity factor
  topic: keywords
subject: Greenwashing
  topic: keywords
subject: Quantile-on-quantile regression
  topic: keywords
subject: BRICS
  topic: keywords
creator: Oktay Özkan
creator: Magdalena Radulescu
creator: Mehmet Akif Destek
creator: Madalina Brutu
rights: Copyright (c) 2025 Engineering Economics
date: 2025-10-23
publication date: 2025-10-23
starting page: 498
ending page: 515
doi: 10.5755/j01.ee.36.4.40054

Do Financial Inclusion, Regulatory Quality and Government Effectiveness Matter for Green Development? Evidence from New EU Countries
type: item
description: Nowadays, the world is facing climate change and environmental problems due to the increasing use of energy resources and environmental emissions. In order to promote green development, financial inclusion is an important factor in the development process. Therefore, this paper examines the effects of financial inclusion, regulatory quality, government effectiveness and economic growth on green development in the new EU countries for the period from 2004 to 2021. In order to obtain empirical results, the pooled mean group and mean group estimator have been employed to check the short-run and long-run effects on green development. The results show a strong relationship between the variables and CO2 emissions in the long run. The findings support that enhancing the level of financial inclusion and regulatory quality by 1% increases carbon emissions by around 0.3% and 0.4% in the long run. However, government effectiveness and economic growth have a negative effect on CO2 emissions in the long run, while in the short run economic growth has a positive effect on CO2 emissions. Based on the empirical results, policymakers should improve financial inclusion and reinforce stringent regulations to enhance green development.
subject: Articles
  topic: section
subject: Financial Inclusion
  topic: keywords
subject: Government Effectiveness
  topic: keywords
subject: Regulatory Quality
  topic: keywords
subject: Green Development
  topic: keywords
subject: New EU Countries
  topic: keywords
creator: Tanja Fatur Šikić
creator: Sabina Hodžić
creator: Anita Čeh Časni
rights: Copyright (c) 2025 Engineering Economics
date: 2025-06-30
publication date: 2025-06-30
starting page: 334
ending page: 346
doi: 10.5755/j01.ee.36.3.34801

Does Enterprise Digitalization Promote the Green and Low-carbon Transformation and Upgrading? Evidence from A-share Listed Companies in China
type: item
description: As the world's top emitter of greenhouse gases, China's acceleration of emission mitigation is critical for global climate governance. Enterprises, as core economic actors, play a pivotal role in achieving sustainable development through green and low-carbon transformation (GLCT), a cornerstone of China's carbon peaking and neutrality objectives. This study examines whether enterprise digitalization—a key driver of digital-real economy integration—facilitates reductions in corporate greenhouse gas and pollutant emissions, thereby advancing GLCT. Utilizing 2008-2020 data from Chinese listed firms, we investigate the mechanisms underlying this relationship and heterogeneity across enterprises. Results reveal that digitalization significantly lowers emission intensity via pathways such as technological innovation, efficiency gains, operational environment optimization, and structural adjustments. Heterogeneity analysis highlights stronger effects in state-owned enterprises and competitive industries, with no regional regulatory disparities observed. This study demonstrates that digitalization significantly contributes to corporate green and low-carbon transition (GLCT) by reducing carbon and pollutant emission intensities. Empirical evidence reveals four critical mechanisms driving this transformation: technological innovation enhancement, operational efficiency optimization, managerial environment improvement, and production structure reorganization. Heterogeneity analysis highlights pronounced GLCT effects in state-owned enterprises and firms within hypercompetitive industries, while environmental regulation intensity shows negligible regional differentiation. The research systematically examines enterprise pathways for emission reduction in digital contexts, establishing a theoretical framework for achieving carbon neutrality goals. The findings inform policymakers in developing tailored digital strategies aligned with enterprise capabilities and sectoral attributes…
subject: Journal General Track
  topic: section
subject: Digitalization
  topic: keywords
subject: Carbon emission intensity
  topic: keywords
subject: Pollutant emission
  topic: keywords
subject: Green and low-carbon transformation
  topic: keywords
creator: Yongbin Zhou
creator: Jie Ji
creator: Cheng Li
rights: Copyright (c) 2025 Engineering Economics
date: 2025-10-23
publication date: 2025-10-23
starting page: 413
ending page: 431
doi: 10.5755/j01.ee.36.4.34825

Specific Risk Modelling Approach Under Permacrisis Conditions: Some Empirical Evidence
type: item
description: The subject of the research is testing, analyzing, and considering the possibility of applying different risk modeling approaches to optimize the effects of investment activities. In order to have a realistic research basis, concrete data from certain markets were used to cover the studied phenomena as efficiently as possible. The aim is to obtain reliable, timely information about the accomplishment of the specific risk modeling approach under permacrisis conditions. Specific results and their significance for science and practice underscore the focus on distinct crisis periods. The findings confirm the practical relevance and advantages of applying EVT and CEVT-based Value-at-Risk models. This is achieved using different confidence levels (90% and 99%) and a 250-day moving window. The novelty of the research lies in the comparative assessment of investment risk in both developed and developing markets under permacrisis conditions, with the strengths and weaknesses of the tested models clearly identified. The study thereby contributes to creating an optimal market environment that supports informed investment decisions regarding expected returns. The limitations of the research reflect the distinct characteristics of developed and developing markets, with a particular challenge being the identification of systemic risk under the prevailing conditions.
subject: Articles
  topic: section
subject: Risk Modelling
  topic: keywords
subject: Value at Risk
  topic: keywords
subject: GARCH
  topic: keywords
subject: Investment Activities
  topic: keywords
subject: Permacrisis
  topic: keywords
creator: Jelena Ivetić
creator: Vladimir Djakovic
creator: Goran Andjelic
rights: Copyright (c) 2025 Engineering Economics
date: 2025-06-30
publication date: 2025-06-30
starting page: 303
ending page: 316
doi: 10.5755/j01.ee.36.3.34487

Ability to Borrow Modeling Techniques for Small and Medium-Sized Enterprises
type: item
description: This study comprehensively evaluates the ability to borrow machine learning modeling techniques for SMEs, utilizing a sample of the Baltic States with many variables. The study aims to assess the applicability of access to credit modeling techniques for SMEs. This is the first study in which a large–scale assessment has been carried out in the Baltic States sample, covering five years of credit applications from SMEs to a depository institution. The results showed that Gradient Boosting produces the most accurate results. Gradient Boosting demonstrated better results than the benchmark Logistic Regression as well as other advanced machine learning models, including Random Forests and Multilayer Perceptron models. The method showed the highest accuracy of the overall receiver operating characteristic (ROC) curve and the associated area under the curve (AUC) (ROC–AUC) and Average Precision values, as well as other discriminatory threshold values, compared to alternative methods.
subject: Journal General Track
  topic: section
subject: SMEs
  topic: keywords
subject: Ability to borrow
  topic: keywords
subject: Machine learning methods
  topic: keywords
subject: Gradient Boosting
  topic: keywords
subject: The Baltic States
  topic: keywords
creator: Aidas Malakauskas
creator: Ausrine Lakstutiene
creator: Lina Sineviciene
creator: Andrzej Buszko
rights: Copyright (c) 2025 Engineering Economics
date: 2025-10-23
publication date: 2025-10-23
starting page: 516
ending page: 528
doi: 10.5755/j01.ee.36.4.40554

Navigating Technological Change: The Role of Passive Social Policies in Central and Eastern European Labour Markets
type: item
description: Central and Eastern European (CEE) countries have limited research attention regarding the impact of technological change on the labour market. While existing studies offer many insights into developed countries, research on CEE countries, which have not yet achieved the level of prosperity seen in Western nations, does not take into consideration the following paradox – the existing labour force deficit and lack of technological innovation at the same time. This makes the region particularly valuable for the analysis in the context of technological change. Our study expands current theoretical understanding of the relationship between technological change and employment by examining the effects of passive labour market policies. The empirical analysis, using fixed-effects models, reveals that the overall effect of digitalization on employment is inconsistent, suggesting that the direct relationship between ICT capital and employment is not robust across specifications. This may result from the balancing of both positive and negative effects of technological change on the labour market. However, three models find a positive and statistically significant moderating effect of social protection benefits, while two showed insignificant estimates. This suggests that higher social protection can help mitigate digitalization’s negative employment effects by sustaining demand and supporting jobs in non-automated sectors.
subject: Articles
  topic: section
subject: Technological Change
  topic: keywords
subject: Digitalization
  topic: keywords
subject: Employment
  topic: keywords
subject: Social Protection Benefits
  topic: keywords
creator: Marius Kušlys
creator: Simonas Čepėnas
creator: Vincentas Vobolevičius
creator: Tadas Šarapovas
rights: Copyright (c) 2025 Engineering Economics
date: 2025-06-30
publication date: 2025-06-30
starting page: 380
ending page: 395
doi: 10.5755/j01.ee.36.3.40415

Is There a Shift in the Intended Tax Compliance During the COVID-19 Outbreak? An Exploratory Study
type: item
description: This exploratory study investigates whether there was a shift in intended tax compliance during the COVID-19 pandemic in Romania, identifying factors influencing taxpayers' perceived moral obligation to pay taxes amid crises. Using data from an online survey with 404 respondents conducted at the end of 2021, a multinomial logistic regression (MLR) analysis, informed by the slippery slope framework, was employed to analyze the role of voluntary and enforced compliance, trust in government, power of tax authorities, and other socio-demographic factors in influencing taxpayer behavior. The results indicate that older taxpayers felt a heightened moral obligation to comply with tax regulations during the COVID-19 crisis compared to younger individuals. Gender did not significantly affect intended tax compliance in crisis periods. Voluntary compliance showed mixed outcomes; taxpayers who recognized taxes as beneficial to society demonstrated increased compliance during the pandemic, whereas those who usually paid willingly displayed decreased compliance. Crucially, higher perceptions of tax fairness and greater trust in governmental institutions substantially increased taxpayers' moral obligation to comply during the pandemic. Unexpectedly, reduced corruption perceptions did not correspond with improved tax compliance. This research contributes to existing literature by highlighting the complex interplay of demographic variables, voluntary compliance motivations, and institutional trust during economic crises. The findings emphasize the need for policymakers to foster transparent communication, equitable tax policies, and enhance institutional trust to maintain and potentially increase tax compliance during challenging economic conditions.
subject: Articles
  topic: section
subject: Tax Compliance
  topic: keywords
subject: Slippery Slope
  topic: keywords
subject: COVID-19 Crisis
  topic: keywords
subject: Perception Change
  topic: keywords
subject: Tax Collection
  topic: keywords
creator: Radu Ciobanu
creator: Mirela Paunescu
creator: Adriana Florina Popa
rights: Copyright (c) 2025 Engineering Economics
date: 2025-06-30
publication date: 2025-06-30
starting page: 363
ending page: 379
doi: 10.5755/j01.ee.36.3.36525

Generational Disparities and Their Impact on Sectoral Labour Demand
type: item
description: This study estimates the economic impacts of demographic changes driven by generational changes on the labour market and business environment in the Slovak Republic and selected European countries (Hungary, Poland, Czech Republic, Germany, France, Italy). It examines how demographic changes influence sectoral labour demand and the number of business entities. The main research questions are: RQ1: How do generational disparities affect sectoral demand? RQ2: How do generational disparities affect the number of entrepreneurs in the labour market? A comparative analysis of statistical data from 2013 to 2023 shows that sectors such as wholesale, retail, industry, and information and communication technology (ICT) face a shortage of skilled labour. To address RQ2, a regression analysis covering the long-term period from 1995 to 2020 is applied. The evaluation of RQ2 is supported by two hypotheses (H). H1: Changes in population development affect the number of enterprises at a statistically significant level. H2: Changes in population development affect the size of companies in a statistically significant variable. The results indicate that demographic trends associated with generational changes are reshaping the labour market structure, with the most significant impact observed in industries with high skill requirements and the segment of small and medium-sized enterprises. These businesses are flexible yet particularly vulnerable to shortages of skilled labour.
subject: Articles
  topic: section
subject: Labour Market
  topic: keywords
subject: Intergenerational Exchange
  topic: keywords
subject: Labour Supply
  topic: keywords
subject: Labour Demand
  topic: keywords
subject: Generation Changes
  topic: keywords
creator: Richard Rigó
creator: Adriana Grenčíková
creator: Karol Krajčo
creator: Valentinas Navickas
creator: Vytautas Snieška
rights: Copyright (c) 2025 Engineering Economics
date: 2025-04-30
publication date: 2025-04-30
starting page: 212
ending page: 225
doi: 10.5755/j01.ee.36.2.39850

A Systematic Literature Review of Supply Chain Management Strategies and SME Performance: A Retrospective Analysis, Current Trends and Future Opportunities
type: item
description: This study conducts a systematic literature review on supply chain management (SCM) strategies and their influence on Small- and Medium-sized Enterprise (SME) performance in emerging economies. Covering 241 Scopus-indexed articles from 2001 to 2024, the analysis utilizes bibliometric and content analysis with tools such as RStudio, VOSviewer, and Microsoft Excel. Three main themes emerged from the analysis: (1) SCM strategies’ impact on SME performance, (2) integration and collaboration for enhanced performance, and (3) technology adoption for competitive advantage. Findings reveal notable trends, such as the growing interest in green SCM and supply chain resilience, with the UK and India leading in contributions. This research offers SMEs actionable insights for integrating supply chain strategies, enhancing collaborative planning, and refining supply chain management capabilities. Additionally, the study provides a roadmap for future research into sustainable practices, regulatory compliance, and technology driven SCM strategies to support SMEs in addressing complex market challenges.
subject: Articles
  topic: section
subject: Supply Chain Management
  topic: keywords
subject: Small and Medium Enterprises
  topic: keywords
subject: Bibliometric Analysis
  topic: keywords
subject: Performance
  topic: keywords
subject: Green Supply Chain
  topic: keywords
subject: Technology Adoption
  topic: keywords
subject: Emerging Economies
  topic: keywords
creator: Ahmad Al Naimat
creator: Lalita Davies
rights: Copyright (c) 2025 Engineering Economics
date: 2025-04-30
publication date: 2025-04-30
starting page: 192
ending page: 211
doi: 10.5755/j01.ee.36.2.39372

An Integrating Framework through the Extension of the UTAUT2 Model for Online Banking: A Context from a Two-Staged Approach with PLS-SEM and Fuzzy Z-AHP
type: item
description: This study aims to develop a conceptual model for online banking by identifying key factors influencing its acceptance and use. In light of the complexities of online banking and the challenges posed by the COVID-19 pandemic, the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) model was extended with three additional constructs: customer service, perceived security, and fear of COVID-19. The proposed framework combines the UTAUT2 model with a hybrid methodology that integrates PLS-SEM and Fuzzy Z-AHP. The study first tested the model’s hypotheses using PLS-SEM, and the results were used to construct a decision matrix for Fuzzy Z-AHP analysis. Data were collected from 346 online banking customers in Albania, revealing that habit is the most influential factor in online banking adoption. This research makes significant contributions across theoretical, managerial, and methodological domains. Theoretically, it enriches the UTAUT2 model by incorporating new constructs, enhancing its applicability. From a managerial perspective, the findings highlight critical factors shaping customer decisions, offering actionable insights for practitioners. Methodologically, the study introduces a sequential multi-method research approach by integrating PLS-SEM and Fuzzy Z-AHP.
subject: Articles
  topic: section
subject: Online Banking
  topic: keywords
subject: PLS-SEM
  topic: keywords
subject: Fuzzy Z-AHP
  topic: keywords
subject: UTAUT2
  topic: keywords
subject: Constructs
  topic: keywords
creator: Evgjeni Xhafaj
creator: Daniela Halidini Qendraj
creator: Robert Kosova
creator: Neime Gjikaj
creator: Olion Mersinllari
creator: Lorena Serjanaj Alikaj
rights: Copyright (c) 2025 Engineering Economics
date: 2025-04-30
publication date: 2025-04-30
starting page: 241
ending page: 254
doi: 10.5755/j01.ee.36.2.34640

Environmental Regulation and Corporate Social Responsibility: The Impact of Executive Authority and Equity Concentration Ratio on Technological Innovation
type: item
description: 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.
subject: Articles
  topic: section
subject: Environmental Regulation
  topic: keywords
subject: Corporate Social Responsibility
  topic: keywords
subject: Technological Innovation
  topic: keywords
subject: Executive Authority
  topic: keywords
subject: Ownership Concentration
  topic: keywords
creator: Qiong Sun
creator: Na Yu
creator: Naicong Zhang
rights: Copyright (c) 2025 Engineering Economics
date: 2025-02-27
publication date: 2025-02-27
starting page: 55
ending page: 71
doi: 10.5755/j01.ee.36.1.35985

The Triple Interaction: Environmental Corporate Social Responsibility, Environmental Regulation, and Environmental Commitment in Shaping Environmental Performance in China
type: item
description: 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.
subject: Articles
  topic: section
subject: Environmental Corporate Social Responsibility
  topic: keywords
subject: Environmental Regulation
  topic: keywords
subject: Environmental Commitment
  topic: keywords
subject: Stakeholder Theory
  topic: keywords
subject: Environmental Performance
  topic: keywords
creator: Di Xuan
creator: Koushan Ni
creator: Xiaoyan Jiang
rights: Copyright (c) 2025 Engineering Economics
date: 2025-02-27
publication date: 2025-02-27
starting page: 130
ending page: 143
doi: 10.5755/j01.ee.36.1.35649

“Stylized facts” in Price Dynamics: Do They Matter for ESG Financial Markets?
type: item
description: We investigate the presence of “stylized facts” within the ESG segment of the developed financial markets. The effects resulting from their presence are relevant given their impact on asset pricing, portfolio management, and even the efficiency of policy decisions. Moreover, during turbulent periods, the effects and presence of such elements can enable integration to act as a net transmitter of volatility. To explore this concept, we employed a broad and diversified toolset to detect their presence and influence. We tested five developed ESG indices, covering a time window from January 2014 to March 2023, by employing high-frequency data. The selection of indices captures and accounts for different geographical settings. The results suggest that “stylized facts” are present in the ESG segment of developed markets and volatility can spill over from market to market and fuel the contagion effect on a global scale, via the integration process and its effects.
subject: Journal General Track
  topic: section
subject: globalization
  topic: keywords
subject: market integration
  topic: keywords
subject: developed markets
  topic: keywords
subject: ESG indices
  topic: keywords
subject: “stylized facts”
  topic: keywords
subject: volatility spillover
  topic: keywords
creator: Cristian Budris
creator: Bogdan Dima
creator: Ciprian Sipos
rights: Copyright (c) 2025 Engineering Economics
date: 2025-10-23
publication date: 2025-10-23
starting page: 446
ending page: 465
doi: 10.5755/j01.ee.36.4.38950

Spillover Effects of Cryptocurrency Volatility on Green Finance
type: item
description: This study investigates the risk spillover between clean and dirty cryptocurrencies and their impact on green finance indexes (solar, wind, and nuclear energy) and regional economic indexes (Baltic Dry Index and CRB Index), with data processed using the diagonal BEKK model. The results identify several dirty cryptocurrencies such as: Ethereum Cash (ETC), Litecoin (LTC), and Bitcoin (BIT) as potential diversifiers and hedges with specific green energy and economic indexes. Our findings show that news from the cryptocurrency markets predominantly have a positive, significant effect on the covariance with green finance indices. The study also presents the covolatility spillover effect, showcasing the impact of a return shock in one market, such as the cryptocurrency market or the green finance market, on the co-volatility between markets, including regional economic indices like the Baltic Dry Index and CRB Index. The analysis reveals differential spillover patterns between clean and dirty cryptocurrencies and various green finance indices, highlighting the complexity of their interactions and the varying degrees of influence on regional economic indicators.
subject: Articles
  topic: section
subject: Co-Volatility
  topic: keywords
subject: Cryptocurrency
  topic: keywords
subject: Green Finance
  topic: keywords
subject: Economic Indexes
  topic: keywords
subject: Diagonal BEKK Model
  topic: keywords
subject: Spillover Effects
  topic: keywords
creator: Iulia Cristina Iuga
creator: Raluca Andreea Nerisanu
creator: Larisa-Loredana Dragolea
rights: Copyright (c) 2025 Engineering Economics
date: 2025-04-30
publication date: 2025-04-30
starting page: 173
ending page: 191
doi: 10.5755/j01.ee.36.2.37916

Transformational Leadership and Innovative Work Behavior: The Role of LMX Theory and Employee Voice Behavior
type: item
description: 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.
subject: Articles
  topic: section
subject: Transformational leadership style
  topic: keywords
subject: leader-member exchange theory
  topic: keywords
subject: employee voice behavior
  topic: keywords
subject: innovative work behavior
  topic: keywords
creator: Maja Strugar Jelača
creator: Dimitrije Gašić
creator: Radmila Bjekić
creator: Marko Alekić
creator: Slobodan Marić
rights: Copyright (c) 2025 Engineering Economics
date: 2025-02-27
publication date: 2025-02-27
starting page: 4
ending page: 20
doi: 10.5755/j01.ee.36.1.34652

Event Sentiment and Cross-Country Herding Spillover Effects Using Machine Learning
type: item
description: This research study investigates herding behaviour and its cross-country spillover effects in the UK, US, China, and Pakistan stock markets in the presence of event sentiment. We used three machine learning models for the empirical investigation: support vector regression, single-layer neural networks, and multi-layer neural networks. The daily data set of the listed stocks has been used. The results suggest a significant predictability of the Twitter sentiment of Brexit 2016 and COVID-19. Cross-country herding spillover is also evident from the UK to Pakistan and the US in the case of Brexit 2016. Similarly, there is a herding spillover effect from China to Pakistan and UK stock markets. The overall results of machine learning models are more significant than linear regression models. Furthermore, the event sentiment improves the performance of the machine learning models. The study provides a deep insight for individual and institutional investors to take care of unpredicted events while constructing their international portfolios in these stock markets.
subject: Articles
  topic: section
subject: Herding Spillover
  topic: keywords
subject: Brexit
  topic: keywords
subject: CSAD
  topic: keywords
subject: Market Return
  topic: keywords
subject: Machine Learning
  topic: keywords
creator: Wei Chen
creator: Muhammad Asim
creator: Muhammad Yasir
creator: Mehboob ul Hassan
creator: Adnan Shoaib
rights: Copyright (c) 2025 Engineering Economics
date: 2025-04-30
publication date: 2025-04-30
starting page: 147
ending page: 160
doi: 10.5755/j01.ee.36.2.36329

Examining the Influence of Green HR Practices on Green Organizational Performance: Evidence from Pharmaceutical Sector of Asian Economies
type: item
description: 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.
subject: Articles
  topic: section
subject: Green HR Practices
  topic: keywords
subject: Green Organizational Performance
  topic: keywords
subject: Eco-Design & Internal Management
  topic: keywords
subject: Green Secession Planning
  topic: keywords
subject: Green Compensation & Evaluation
  topic: keywords
subject: Green HR Information System
  topic: keywords
subject: Green HR Data & Analytics
  topic: keywords
creator: Rizwan Raheem Ahmed
creator: Rohit Rampal
creator: Dalia Streimikiene
creator: Justas Streimikis
rights: Copyright (c) 2025 Engineering Economics
date: 2025-02-27
publication date: 2025-02-27
starting page: 113
ending page: 129
doi: 10.5755/j01.ee.36.1.37891

Endogenous Growth Factors and Economic Development: An In-depth Analysis of the Impact of Investments in R&D and Human Capital on Total Factor Productivity and Export Dynamics
type: item
description: Investments in research and development (R&D) and human capital affect economic growth by influencing total factor productivity (TFP) and competitiveness (exports). The determinants of this influence were analysed on a cointegrated panel of seven large countries and separately on five medium-sized or small countries. The results show that TFP and exports per unit of R&D or per unit of human capital mainly depend on the interconnection of these two factors, but also on capital per employee, the control of inflation, the foreign trade share in GDP, oil prices, digitalisation, electrification, the concentration of development activity related to the share of military expenditures in GDP, energy efficiency and ecological protection in the national economy. In medium-sized or small countries, the influence of regulation is greater, while the effect of development activities related to military expenditures is much smaller than in the large countries.
subject: Articles
  topic: section
subject: Endogenous Growth
  topic: keywords
subject: Research and Development
  topic: keywords
subject: Human Capital
  topic: keywords
subject: Total Factor Productivity
  topic: keywords
subject: Exports
  topic: keywords
creator: Sonja Šlander-Wostner
creator: France Križanič
creator: Borut Vojinovic
rights: Copyright (c) 2025 Engineering Economics
date: 2025-04-30
publication date: 2025-04-30
starting page: 255
ending page: 267
doi: 10.5755/j01.ee.36.2.35715

Deep Learning Model for Estimation Market Risk in Insurance Sector
type: item
description: The paper developed a model for market risk assessment based on deep learning in combination with non-parametric, parametric and semi-parametric VaR and ES models. We presented the ANN-GRU model more precisely. It is intended for insurance companies operating in emerging markets because the model was developed to cover all the characteristics of emerging markets. The research was conducted on the example of 8 optimal investment portfolios for insurance companies operating in the Balkan countries. The portfolios were calibrated at the daily level and calculated for the period from 1 January 2020 to 31 December 2023. The first 500 data were used to estimate the calibration of the VaR model, the other 250 to estimate the validity of the VaR model, and the last 250 to test the validity of the VaR/ES-GRU-DL market risk estimates in accordance with Directive II. Conditional and unconditional coverage tests were used to test the validity of VaR estimates, while Berkowitz's ES test was used to test the validity of ES estimates. Due to the limitations of these tests, the validity of the backtesting VaR estimate was performed using Dufour Monte Carlo simulations, while the validity of the backtesting ES estimate used the Bootstrap procedure. The backtesting results, as well as the results of the validity of the backtesting results, show that the model generates reliable estimates of VaR and ES in accordance with the Solvency II directive as well as produces better estimates compared to the popular and widely used VaR and ES models.
subject: Articles
  topic: section
subject: Insurance Companies
  topic: keywords
subject: Market Risk
  topic: keywords
subject: Value at Risk
  topic: keywords
subject: Expected Shortfall
  topic: keywords
subject: Emerging Market
  topic: keywords
subject: Deep Learning
  topic: keywords
creator: Sasa Meza
creator: Ljiljana Popovic
creator: Nikola Radivojevic
creator: Sanja Doncic
rights: Copyright (c) 2025 Engineering Economics
date: 2025-04-30
publication date: 2025-04-30
starting page: 161
ending page: 172
doi: 10.5755/j01.ee.36.2.37014

Moving Toward Sustainable Finance: Leveraging Environment, Social and Governance (ESG) Performance and Risk Management to Drive Corporate Financing Efficiency
type: item
description: 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.
subject: Articles
  topic: section
subject: Environmental
  topic: keywords
subject: Social
  topic: keywords
subject: Governance
  topic: keywords
subject: ESG
  topic: keywords
subject: Corporate financing efficiency
  topic: keywords
subject: Corporate financial risk
  topic: keywords
subject: Sustainable finance
  topic: keywords
creator: Li Li
creator: Muhammad Suhrab
creator: Magdalena Radulescu
creator: Mariana Banuta
rights: Copyright (c) 2025 Engineering Economics
date: 2025-02-27
publication date: 2025-02-27
starting page: 72
ending page: 95
doi: 10.5755/j01.ee.36.1.36361

Beyond Reality: The Role of Innovation in Virtual Sport Events
type: item
description: With the arrival of Pandemic COVID, most sporting events were suspended, including popular foot races, known for their massification and occupation of public space. This global situation forced sporting events to innovate to become safer and to continue offering their activities despite the restrictions. From this evolution, virtual editions of many events emerged and promoted a new format that is still in force. The present study addresses the role of innovation from three perspectives: service newness in the market, incremental service innovation and technology-focused innovation, to subsequently explain the perceived quality, perceived value and satisfaction with the event. The sample was 560 participants of the Medellin Virtual Marathon. Results show that incremental service innovation and technology-focused innovativeness are important to explain perceived quality, while newness in the market is not. Subsequently, quality influences value and value influences satisfaction. Therefore, innovation must be considered in the management of virtual sporting events.
subject: Articles
  topic: section
subject: Innovation
  topic: keywords
subject: Sporting Events
  topic: keywords
subject: Quality
  topic: keywords
subject: Value
  topic: keywords
subject: Satisfaction
  topic: keywords
creator: Daniel Martínez-Cevallos
creator: Mario Alguacil Jiménez
creator: Carlos Pérez Campos
creator: Ferran Calabuig
rights: Copyright (c) 2025 Engineering Economics
date: 2025-04-30
publication date: 2025-04-30
starting page: 226
ending page: 240
doi: 10.5755/j01.ee.36.2.36667

Financial Literacy Metrics for Financial Wellbeing in a Socioeconomic Environment: The FWI Model in a Circular Economy and Climate Finance
type: item
description: 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.
subject: Articles
  topic: section
subject: Climate Finance
  topic: keywords
subject: Circular Economy
  topic: keywords
subject: Financial Literacy
  topic: keywords
subject: Financial Wellbeing Index (FWI);
  topic: keywords
subject: Socioeconomic Environment
  topic: keywords
subject: SEM
  topic: keywords
subject: Sustainable Finance
  topic: keywords
subject: Climate Change
  topic: keywords
subject: Households
  topic: keywords
creator: Enkeleda Lulaj
creator: Ani Mekaniwati
rights: Copyright (c) 2025 Engineering Economics
date: 2025-02-27
publication date: 2025-02-27
starting page: 21
ending page: 39
doi: 10.5755/j01.ee.36.1.35058

Do Virtual and the Face-to-face Ways of Working Have an Impact on the Effectiveness of Teams? An Empirical Study in the Context of Multicultural IT Teams
type: item
description: This paper pursued to identify whether there are differences between virtual and face-to-face teams concerning their ability to develop a natural and incremental chain of linkages between individual, team and organization level effectiveness, in the context of interactions between their multicultural members and of interdependence that teamwork entails. The novelty and relevance of the research consist in empirically testing the above chain, along with the differences and similarities between virtual and co-located teams, on a sample of 159 respondents working in multicultural IT project teams from Romania and the Czech Republic. Structural equation modelling based empirical findings show statistically insignificant differences regarding the construction of the chain of effectiveness between virtual and co-located multicultural teams. Complementary, in terms of average values for all three levels of results, the face-to-face multicultural teams are superior to virtual multicultural ones, limited by the exclusion of team reaction time and lifespan from the research model.
subject: Articles
  topic: section
subject: Multilevel effectiveness
  topic: keywords
subject: Chain of competencies
  topic: keywords
subject: Multicultural IT teams
  topic: keywords
subject: Virtual teams
  topic: keywords
subject: Face-to-face teams
  topic: keywords
subject: Market adaptability
  topic: keywords
creator: Elena CIZMAȘ
creator: Emőke-Szidónia FEDER
creator: Mădălina-Dumitrița MATICIUC
rights: Copyright (c) 2024 Engineering Economics
date: 2024-10-29
publication date: 2024-10-29
starting page: 410
ending page: 425
doi: 10.5755/j01.ee.35.4.30762

Impact of Information and Communication Technologies Penetration on Human Development: Evidence from Economic Community of West African States
type: item
description: Human development is a significant component of economic growth and development. Therefore, determinants of human development are crucial to designing and implementing the optimal policies to boost economic growth and development. This study investigates the impact of ICT penetration on human development in the Economic Community of West African States for the period of 2000-2018 through bootstrap cointegration and causality tests. The causality analysis disclosed a unilateral causality from internet usage to human development in Benin, Côte d'Ivoire, Nigeria, Senegal, and Sierra Leone and a one-way causality from mobile cellular subscriptions to human development in Côte d'Ivoire, Liberia, Niger, and Togo, but there existed a significant causality from human development to mobile cellular subscriptions in Benin, Cabo Verde, Gambia, and Ghana. On the other side, the cointegration analysis revealed a positive effect of internet usage and mobile cellular subscriptions on human development in the long run.
subject: Articles
  topic: section
subject: Human development
  topic: keywords
subject: ICT
  topic: keywords
subject: ICT penetration
  topic: keywords
subject: bootstrap cointegration test
  topic: keywords
subject: bootstrap causality test
  topic: keywords
creator: Yilmaz Bayar
creator: Oğuzhan Yelkesen
creator: Amadou Bailo Barry
creator: Marius Dan Gavriletea
rights: Copyright (c) 2024 Engineering Economics
date: 2024-10-29
publication date: 2024-10-29
starting page: 426
ending page: 438
doi: 10.5755/j01.ee.35.4.30888

The Impact of Macroeconomic Factors on the Performance of Commercial Banks: The Case of Lithuania
type: item
description: In recent years, the stability and performance of commercial banks have become increasingly intertwined with macroeconomic conditions. This study explores the complex relationship between macroeconomic factors and the performance of Lithuanian commercial banks. By analyzing empirical data, we seek to understand how fluctuations in various economic indicators affect interest income, service and fee income and loan portfolio size in the Lithuanian banking sector. There is a lack of such research, as the efficiency of banks' operations and the sensitivity of loan portfolio quality to changes in macroeconomic indicators depend mostly on the structure and characteristics of the banking sector in each country. The results of the study show that the impact of macroeconomic fluctuations on the Lithuanian commercial banking sector is relatively limited. Understanding the impact of macroeconomic factors on commercial banks is crucial for policy makers, investors, and practitioners. Identifying these linkages can improve risk management practices, strengthen regulatory frameworks, and promote financial stability.
subject: Articles
  topic: section
subject: Macroeconomic factors
  topic: keywords
subject: Banking sector’s performance
  topic: keywords
subject: Loan portfolio
  topic: keywords
subject: Interest income
  topic: keywords
subject: Services
  topic: keywords
subject: Commission income
  topic: keywords
creator: Vilda Gižienė
creator: Daiva Laskienė
creator: Tomas Stravinskas
creator: Indrė Petrikė
creator: Ineta Juodžbalytė
rights: Copyright (c) 2024 Engineering Economics
date: 2024-12-23
publication date: 2024-12-23
starting page: 614
ending page: 629
doi: 10.5755/j01.ee.35.5.37025

Sustaining in Uncertain Time: Investigating Pension Fund Performance during Market Stress
type: item
description: 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.
subject: Articles
  topic: section
subject: Pension Funds
  topic: keywords
subject: Market Stress
  topic: keywords
subject: Short-Term Risk
  topic: keywords
subject: Long-Term Risk
  topic: keywords
subject: Change Point Detection
  topic: keywords
creator: Aušrinė Lakštutienė
creator: Kristina Sutiene
creator: Audrius Kabasinskas
creator: Aidas Malakauskas
creator: Milos Kopa
rights: Copyright (c) 2025 Engineering Economics
date: 2025-02-27
publication date: 2025-02-27
starting page: 96
ending page: 112
doi: 10.5755/j01.ee.36.1.36796

Social Media Content Multimodality and the Level of User Interactions from the Perspective of Facebook and Instagram
type: item
description: The article aimed to establish a simple methodology for examining the impact of message modality on user interactions. Using communication theory and content analysis methodology, 1,172 entries of selected recreational entities on Facebook (N=579) and Instagram (N=593) were analysed. The results suggest that higher modality levels positively influence user interactions, with a weak positive effect observed on Facebook and a moderate positive effect observed on Instagram. Practical implications include content marketing on social channels and the development of a theory of memetic content propagation. An innovative aspect of the research is an approach that consolidates the different levels of modality into one simple Post Modality Value (PMV). Research limitations include focusing only on two social media platforms, analysing fanpages associated with specific service industry entities, and disregarding the size of follower groups.
subject: Articles
  topic: section
subject: Facebook
  topic: keywords
subject: Instagram
  topic: keywords
subject: Content multimodality
  topic: keywords
subject: Multimodality analysis
  topic: keywords
subject: User interactions
  topic: keywords
subject: PMV coefficient
  topic: keywords
creator: Krzysztof Stepaniuk
rights: Copyright (c) 2024 Engineering Economics
date: 2024-12-23
publication date: 2024-12-23
starting page: 602
ending page: 613
doi: 10.5755/j01.ee.35.5.36677