Central European Business Review - Forthcoming articles

Economic Freedom Index and Foreign Direct Investment: Bridging the Gap between Developed and Emerging Economies

Avni H. Alidemaj, Anatoljis Krivins, Esat Durguti, John McArdle

Central European Business Review X:X | DOI: 10.18267/j.cebr.398  

The working paper examines several variables of the Economic Freedom Index and the effect of GDP on foreign direct investment (FDI) in the 6 European Union economies (EU6) and the 6 Western Balkan economies (WB6). This study aims to explore whether these determinants affect foreign direct investments in EU6 and WB6 towards other international economies. To accomplish the stated aim, we used secondary panel data on an annual basis from the trusted databases of the Heritage Foundation and the World Bank, covering the period 2017–2023, comprising a total of 42 observations for each panel. The mathematical modeling paradigm employed is Two-Stage...

Family Entrepreneurship and Sustainability: Empirical Analysis from Hungary

Melinda Krankovits, Márta Konczosné Szombathelyi, Judit Csákné Filep, Áron Szennay

Central European Business Review X:X | DOI: 10.18267/j.cebr.399  

Family firms, accounting for 60% of European private sector jobs, play a critical role in advancing business sector sustainability through their practices and employment characteristics. This study examines family entrepreneurs’ attitudes toward sustainability using quantitative methods and the 2023 Global Entrepreneurship Monitor (GEM) Annual Population Survey (APS) dataset from Hungary. Businesses were categorised into non-family, one-person, and family enterprises. After analysing the reliability of sustainability-related questions, two indices measuring attitudes toward environmental, social, and economic sustainability were constructed:...

Detecting Anomalies in Tax Revenues Using Benford's Law. The Case of Polish Adjustment

Piotr Luty, Zuzanna Zawolska

Central European Business Review X:X | DOI: 10.18267/j.cebr.401  

Changes in legal regulations are a permanent element of political systems. The degree of complexity of tax systems is a characteristic feature of developing countries. The study aims to check whether changes in legal regulations cause manipulations in companies' financial data. Manipulations may result from the ambiguity of the introduced regulations (unintentional) or the deliberate actions of taxpayers (intentional). The study analyses the impact of changes in reporting information on tax income from capital sources on anomalies in financial data. In the survey, anomalies in economic data are identified using Benford's Law, using MAD (mean absolute...

An Empirical Analysis of the Competencies of Management Consultants in Northeast Hungary between 2001–2021

Agnes Tokar-Szadai

Central European Business Review X:X | DOI: 10.18267/j.cebr.402  

This study examines the evolving competencies of management consultants in Northeast Hungary from 2001 to 2021 and proposes a comprehensive consultant competence model based on a 20-year longitudinal analysis. The research combines questionnaire surveys (conducted in 2001 and 2005–2006) with in-depth interviews involving consultants and clients during 2011–2012, 2015–2016, and 2020–2021, analysed using SPSS 30.0. Findings reveal significant transformations in consultant competencies over the two decades, shaped by the region’s socio-economic evolution. Notably, perceptions of consultant competence remained stable between...

Does Foreign Direct Investment Increase Business R&D Expenditures in Host Countries?

Dušan Steinhauser

Central European Business Review X:X | DOI: 10.18267/j.cebr.403  

During the current multiple crises periods, economies are trying to find their way to development. One possibility is investment in research and development (R&D). However, emerging economies often have limited resources, so they rely on stimulating R&D through FDI inflows. The question remains about the effectiveness of this path. To investigate this question methodologically, a panel regression analysis with fixed effects was applied. The presented research was inspired by the empirical finding that a correlation between FDI inflow and business expenditure on research and development (BERD) has not been proven in EU countries. However, the...

Performance Evaluation of Traditional and LCC Airlines under the Impact of Covid-19 Pandemic: A Case Study on the European Airline Market

Veysi Asker

Central European Business Review X:X | DOI: 10.18267/j.cebr.404  

The objective of this study is to investigate the effects of the Covid-19 pandemic on the multidimensional performance of companies operating in the European airline transport sector. In Addition is to compare multidimensional performance of Traditional and LCC (Low Cost Carrier) airlines in the European airline transport sector across the pre-pandemic, pandemic and post-pandemic periods. In this context, the multidimensional performance of 11 airlines (6 Traditional and 5 LCC) operating in Europe for the period 2019–2022 is analysed using the LOPCOW-based AROMAN method. In the initial stage of the analysis, the variables pertaining to the airlines...

The Connectedness between Bitcoin, Stock Market, Gold, Oil, Bond and Exchange Rate: Evidence from Quantile VAR Approach and Portfolio Strategies

Zekai Şenol, Bahri Fatih Tekin

Central European Business Review X:X | DOI: 10.18267/j.cebr.405  

This study examines the dynamic connectedness between Bitcoin and various financial assets, including the stock market, gold, oil, bonds, and exchange rates, as well as explores portfolio strategies involving these assets. The study covers the period from January 2, 2015, to March 1, 2024. The quantile connectedness approach and portfolio strategies are utilized in the analysis. The findings are as follows: Intermarket volatility spillover significantly increases under extreme conditions. Bitcoin emerges as a transmitter during bullish markets and acts as a receiver in bearish and normal market conditions. Gold serves as a receiver in extreme conditions...

the Impact of Job Satisfaction on Job Performance in Remote Work Contexts: An Empirical Investigation Using the JD-R Model

Yen Mac Thi Hai, Cuong Tran Thi

Central European Business Review X:X | DOI: 10.18267/j.cebr.406  

The Fourth Industrial Revolution has propelled many employees to perform work from home (WFH), which has been enabled by rapid digital advancements and the integration of technology into daily workflows. This paper aims to explore the relationship between job satisfaction and job performance for employees working from home in Vietnam due to remote work policies implemented by European enterprises. Based on the Job Demands-Resources (JD-R) theory, the research model is proposed. Accordingly, hypotheses are developed, and this study applies a quantitative analysis with a research sample of 256 employees from European multinational enterprises now working...

Comparative Analysis of the Logistics Performance Index of Central and Eastern European Countries: A Hybrid LOPCOW-RAWEC Model

Emre Kadir Özekenci

Central European Business Review X:X | DOI: 10.18267/j.cebr.408  

This study evaluates the logistics performance index of Central and Eastern European (CEE) countries using a hybrid Multi-Criteria Decision-Making (MCDM) model. It examines the logistics performance of CEE countries from 2010 to 2023. The countries included in this study are Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czechia, Estonia, Georgia, Hungary, Latvia, Lithuania, Moldova, Montenegro, North Macedonia, Poland, Romania, Serbia, Slovak Republic, Slovenia and Ukraine. The assessment of the logistics performance is conducted based on six criteria determined through a literature review: customs, infrastructure, international shipments, logistics...