D21 - Firm Behavior: TheoryReturn

This paper investigates stress management practices in Czech small and medium-sized enterprises (n = 194) within the manufacturing sector, with the primary objective of assessing the extent to which these enterprises integrate stress management principles into their internal management processes. The study places a particular emphasis on how these enterprises implement stress management, encompassing both organizational and individual level interventions, while also scrutinizing perceived work stressors, including challenges arising from workplace digitization. A questionnaire was compiled by making use of theoretical insights and empirical findings within stress management, assessing stress management strategies and exploring work-related stress costs. Additionally, it incorporated queries to delineate organizational profiles, enriching the understanding of contextual nuances. Based on a questionnaire survey conducted in the Czech Republic, the research reveals that 86.6% of the surveyed enterprises have implemented at least one stress management intervention, predominantly at the organizational level (45.4% of the respondents). Furthermore, 38.7% of the enterprises adopt both organizational and individual-level interventions, with only 2.6% exclusively focusing on individual stress management interventions. In a broader European context, the Czech Republic appears to lag behind in managing psychosocial risks and workplace stress, characterized by the lowest percentage of stress management action plans and a low rate of actual implementation of stress management measures. Additionally, there is a notable lack of legal frameworks addressing the issue. These findings underscore the need for more effective strategies to enhance stress management in the workplace and the overall wellbeing of employees.
Implications for Central European audience: Given the common economic challenges facing Central European countries, the findings presented in this article are of fundamental importance for the whole region. Workplace stress and its effective management are a common problem and therefore, the findings of this study are relevant. Given the global trend towards digitization of workplaces, these findings have potential applicability across Central Europe. Enterprises operating in our region should take due note of these emerging stressors and develop tailored strategies to address them and potentially improve the overall quality of working life for employees across the region.

Extensive empirical evidence shows that women perform worse in financial literacy tests, which implies that their financial behaviour may also be worse compared to men. However, the literature on the gender gap in financial behaviour is scanty and highly inconclusive. Using data from a survey of married and cohabiting couples living in Poland (N=1,000) and a multi-dimensional scale validated in terms of its psychometric properties, this article compares the financial behaviour of women and men. The applied tests did not show any significant gender differences in the overall financial behaviour index or in any of the subdomains of the behaviour distinguished in the applied scale. Using the social identity theory as a framework, we discuss possible explanations of these puzzling findings, which may imply that women are unnecessarily considered a disadvantaged group in terms of preparedness to participate in financial life, including the business sphere.
Implications for Central European audience: Assuming that the gender differences in financial literacy and behaviour can be explained on the grounds of the social identity theory, Central and Eastern Europe may differ from Western Europe in terms of the gender gap. Socially-imposed gender roles were presumably shaped differently behind the Iron Curtain, which resulted in that the distinction between masculine and feminine roles got blurred under the Soviet regime. As a result, the absence of gender differences in financial behaviour is more likely to occur in Central and Eastern European countries. Financial education initiatives should take this circumstance into account.