Engineering Economics

The Impact of Internationalization on Firm Performance of High-Tech Companies in Poland in the Context of Covid-19

Elżbieta Bukalska, Jakub Czerniak, Irmina Florek — Mon, 30 Jun 2025 00:00:00 +0300

This study aims to examine the impact of the internationalization of high-tech companies on their firm performance against the COVID-19 crisis in Poland. The research covers the period of 2018-2020 (3 years) and encompasses 591 firm-year observations, with 192 high-tech firm-year observations (64 companies) and 399 non-high-tech firm-year observations (133 companies). To find out the differences between subsamples, the U Mann-Whitney test was implemented. At the same time, correlation and regression analysis were exploited to highlight the impact of the crisis, internationalization, and the company's status on firm performance. Our research shows that, in Poland, the COVID-19 crisis had a generally weak impact on internationalization and firm performance. However, in a high-tech subsample, we find an increase in profitability during the COVID-19 crisis. Both subsamples show an increase in financial liquidity ratios during the COVID-19 crisis. The study also demonstrated that internationalization has a weak impact on firm performance. At the same time, the company's status (high-tech) positively impacts internationalization, financial liquidity, and company growth.

Modeling Technology Acceptance in Accounting Area

Jiří Slezák — Mon, 30 Jun 2025 00:00:00 +0300

The paper is focused on the issue of information and communication technologies, which are used in accounting, and whose adoption leads to changes in business processes. For a successful change related to information and communication technologies, it is necessary for business entities to know information about the attitudes of employees. Due to the appropriate identification of variables in the model, a modified model of technological acceptance is used based on a search of foreign literature. The aim of the paper is to propose a model of employees' intention to use information and communication technologies in accounting. The primary research was carried out by means of a questionnaire survey. The survey took place in the Czech Republic among employees engaged in accounting consulting. In order to compile, analyze and validate the model of the intention of employees to use information technology, structural equation modeling was applied. The conclusion of the paper, using structural equation modeling, demonstrates how the perceived usefulness of technology and its perceived ease of use influence the intention of accounting employees to use technology in the future.

Specific Risk Modelling Approach Under Permacrisis Conditions: Some Empirical Evidence

Jelena Ivetić, Vladimir Djakovic, Goran Andjelic — Mon, 30 Jun 2025 00:00:00 +0300

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.

Sustainability Values and Strategic Innovation in Sustainable Fashion MSMEs: the Dynamic Capabilities Perspective

Jolita Ceicyte-Pranskune — Mon, 30 Jun 2025 00:00:00 +0300

Despite the paradigmatic shift towards sustainable fashion, MSMEs are experiencing additional challenges when making efforts to integrate sustainability values in their innovations. To intensify the transition towards sustainable fashion, there is a need to strategically innovate for MSME. There is a research gap on how MSMEs could effectively select sustainability values and integrate them in strategic innovations with limited resources to gain commercial success and to successfully compete in the market. This research aims to reveal the essential sustainability-related values in MSMEs and the strategic innovation implementation applying the dynamic capabilities perspective. Based on an exploratory qualitative study of sustainable fashion enterprises in Lithuania, this research contributes to the strategic management literature by identifying microfoundations that allow sustainable fashion enterprises to develop dynamic capabilities, as well as to sustainable fashion literature by extracting sustainability values which can enable enterprises to pursue their goals more efficiently.

Do Financial Inclusion, Regulatory Quality and Government Effectiveness Matter for Green Development? Evidence from New EU Countries

Tanja Fatur Šikić, Sabina Hodžić, Anita Čeh Časni — Mon, 30 Jun 2025 00:00:00 +0300

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.

The Impact of Lean Inventory Management on Export Intensity

Jingbin Wang, Xuyao Liu, Xuechang Zhu — Mon, 30 Jun 2025 00:00:00 +0300

This study aims to explore the impact of lean inventory management on export intensity and explain how environmental dynamics and complexity moderate this relationship. The Heckman two-step method was used to examine this relationship during periods from 2000 to 2013. The results reveal an inverted U-shaped relationship between inventory leanness and export intensity. Furthermore, this study indicates that environmental dynamics and environmental complexity weaken the relationship between inventory leanness and export intensity. These findings convey a message to managers which can enhance export intensity and improve international competitiveness by realizing the optimal level of inventory leanness. Managers should pay more attention to inventory management when the intensity of competition is weak or the environment is less dynamic. This paper contributes to understand the relationship between inventory leanness and export intensity by studying the moderating role of environmental dynamics and environmental complexity.

Is There a Shift in the Intended Tax Compliance During the COVID-19 Outbreak? An Exploratory Study

Radu Ciobanu, Mirela Paunescu, Adriana Florina Popa — Mon, 30 Jun 2025 00:00:00 +0300

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.

Navigating Technological Change: The Role of Passive Social Policies in Central and Eastern European Labour Markets

Marius Kušlys, Simonas Čepėnas, Vincentas Vobolevičius, Tadas Šarapovas — Mon, 30 Jun 2025 00:00:00 +0300

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.