O30 - Innovation; Research and Development; Technological Change; Intellectual Property Rights: GeneralReturn

The article focuses on adoption of Industry 4.0 technologies in Czechia's small and medium-sized enterprises (SMEs). It examines how enterprise size and sector affect the level of implementation of these technologies. The main objective is to observe the differences in the use of modern technologies in SMEs based on enterprise size and the sector in which they operate and to identify the main barriers to their implementation. The research was conducted online between October 2023 and January 2024, involving 240 respondents from various sectors. The statistical analysis included a non-parametric multivariate analysis of variance (PERMANOVA), the Kruskal-Wallis test, ordinal logistic regression and the Dunn test. The results show that larger enterprises tend to implement modern technologies more frequently than smaller ones, the main barrier being a lack of financial resources. It was also found that the sector in which a company operates does not have a statistically significant impact on the level of implementation of Industry 4.0, but it is a specific predictor of implementing specific technologies in some cases. These findings highlight the need for targeted support to smaller enterprises in education, skill development and securing financial resources for technology investments.
Implications for Central European audience: The theoretical contribution of the article lies in expanding knowledge about the factors influencing adoption of Industry 4.0 technologies in small and medium-sized enterprises. The practical application focuses on identifying barriers that hinder implementation of these technologies and providing recommendations for improving support to small and medium-sized enterprises in adopting modern technologies, mainly through education and financial support.

The increasing complexity of energy security threats, both internal and external, poses significant challenges for businesses in Europe, necessitating a robust framework for evaluating and responding to these risks. This article introduces a comprehensive methodology designed to assess the effects of these threats on a state's energy security through two distinct approaches. The first method focuses on identifying imbalances by analysing the deviation of key indicators from established sustainability benchmarks. The second method combines expert evaluations of changes in comprehensive index components with mathematical computations to assess their overall impact through an energy security model. By employing adaptive control techniques, this methodology disaggregates integrated indices of components and security metrics, allowing a nuanced understanding of energy security dynamics. The energy security model incorporates contemporary evaluation methods that define secure thresholds within various security levels, facilitating a structured analysis of vulnerabilities. This flexible response approach formalises the impacts of threats on the holistic index, establishes new pathways for achieving objectives after a threat and dissects emerging dynamics into actionable components and metrics. The primary research objectives include enhancing the strategic planning capabilities of businesses, improving management decision making processes and quantifying threats to energy security in a systematic manner. The findings indicate that this methodology significantly aids managerial decision making, enabling businesses to alleviate the impacts of threats on energy security strategy elements. Furthermore, the Energy Sustainability Plan formalises relevant response strategies at multiple tiers, ensuring the adaptability of energy systems to maintain a sustainable development trajectory. This study contributes to the broader discourse on energy security by providing a practical framework that can be utilised by policymakers and business leaders to navigate the complexities of energy threats in Central Europe.
Implications for Central European audience: By assessing internal and external threats to energy security, businesses in Central Europe can proactively address risks and optimise their sustainable energy strategies. Utilising adaptive control techniques and contemporary evaluation methods enhances resilience to evolving threats and ensures the stability of energy systems. This approach provides practical decision making insights and empowers businesses to customise their response strategies, thereby advancing the region's energy security and sustainability initiatives.

The overall objective of the present research is to examine the influence of information technology components on the export-to-GDP ratio, especially focused on the changes caused by the events of the 20th century for Southeast European countries (SEC). The motivation for selecting these countries is to evaluate whether they have achieved a sufficient level to adapt digital developments. To overcome these challenges, the study uses a hybrid technique, employing random-effects (RE) and fixed-effects (FE) regression and Arellano-Bond estimations on panel data gathered from 13 countries from 2006 to 2021. The results confirm that fixed broadband subscriptions (FBS), gross formation capital (GFC) and official exchange rate (ORE), have a strong positive effect on the export-to-GDP ratio. Additionally, fixed telephone subscriptions (FTS), foreign direct investments (FDI) and inflation (INF) have a significant negative impact on the export-to-GDP ratio. The Arellano-Bond technique reveals that FBS, INF and ORE have a positive effect on exports, whereas FTS, GFC and FDI have a negative effect. The novelty of this research is that it uses data comparisons that are not related to a single determinant in the economy but are conditioned to advancement, especially concerning global markets and the exploitation of gaps created by changes in supply chains.
Implications for Central European audience: Depending on the research results, it is anticipated that the policy-making structures and other regulatory authorities will create a clear overview of the importance of digitization and its dynamics in the realization of exports and the mitigation of the trade deficit. These discoveries will encourage the highly empowered actors to redesign the policies that will affect the expansion and increase of the quality of the infrastructure of broadband and telephone subscriptions. By expanding and increasing the quality of the economic structure of the respective countries, they will be able to maximize the progress of the export value, which is one of the main goals of almost every country included in the analysis.

Studies on institutional support for the internationalisation of firms from transitional economies are inconclusive. This research contributes to the studies of institutional support in cases of firms with complementary innovation – internationalisation strategies. Mixed method research is used to support quantitative structural modelling. It uses qualitative interview data in combination with quantitative data gathered by a survey questionnaire on a sample of 88 telecommunications firms from the Croatia economy the year after it joined the European Union (2014). SmartPLS model is used to analyse data obtained through a questionnaire survey. The results show that institutions can assist firms in recombining their processes when they offer concrete product development support and, to a lesser extent, marketing support. The recombination of firms’ processes, i.e. its ability to openly innovate, leads to significantly better globalised-localised (glocal) financial and marketing performance, which results are robust. The results are inconclusive in the case of glocal growth performance. The structural model assessed the effect of readiness for open innovation on glocal growth as positive and insignificant, while the robustness check found it to be positive and significant.
Implications for Central European audience: The value of this study is twofold. Firstly, it provides support and direction according to which institutional support could be directed to strengthen the internationalisation effort of the incumbent industry from transitional Central European economy that has transformed from the socialist to a market economy and undergone a process of joining the European Union. Secondly, it shows managers weak spots in institutional support and enables them to mitigate them quicker by finding similar support either outside of the firm on international markets or by employing highly qualified individuals.

The circular economy is presented as the sustainable solution as opposed to the current linear model of production and resource management, whose effects impact negatively on the economic, social and environmental dimensions. Through a systematic review of the literature, this article aims to unify and to uncover the available evidence on innovation in relation to the circular economy and to determine those aspects that remain unexplored or should be studied in more depth in order to be able to continue to make progress in this field. Thus, it was found that although the circular economy is at an early stage of implementation, both its benefits and drivers as well as its challenges and barriers to implementation have already been investigated. More importantly, it was found that ecological innovations, which reduce the environmental impact of production and consumption activities, are necessary for the research of new business models and new ways of operating in supply chains that allow closing the circle and taking advantage of all the waste, such as the system of products and services, dynamic capabilities, 3D printing, the biography of the product and the software recycling. To achieve this goal, the evidence shows that it is mandatory to raise awareness of the situation, especially through marketing actions, as well as for companies, including SMEs, to be willing to act together and to align their interests.
Implications for Central European audience: The United Nations 2030 Agenda includes 17 Sustainable Development Goals (SDGs), according to which countries should implement the circular economy in order to move towards greater sustainability. In this context, European Union is key for this development, as it is one of the world’s major power. This article aims to unify and uncover the available evidence on innovation in relation to the circular economy and to determine those aspects that remain unexplored or should be studied in more depth. By doing so, it will be able to continue to make progress in the framework of the circular economy, enabling the achievement of the ODS. In addition, the majority of the articles reviewed take place in Europe.

This paper seeks to examine the various sources of knowledge and innovation that Slovak and Hungarian manufacturing firms rely on to improve their innovative performance. To carry out our empirical analysis we used the multiple regression technique and data from the Community Innovation Survey conducted between 2010 and 2012. Our empirical analysis demonstrated divergent results for both countries. Slovak firms derived their innovation from in-house activities and other sources such as scientific journals and conferences while Hungarian firms relied on market sources such as cooperation with clients or customers from the private sector for their innovation as well as from scientific journals. However, there was a convergence in the results, manufacturing firms in both countries didn’t collaborate with research institutions such as universities and other public and private research organization for their innovation. This study, therefore, proposes firms to foster closer collaboration with these research institutions since they are the birthplaces of innovation that can increase their competitiveness and innovation performance.

The goal of the study is to verify whether there is a relation between a company's declared innovation strategy and declared problems with access to capital. The research is based on a survey that covers more than 400 companies operating in Poland. Beside the self-assessment approach to evaluation of financial constraints and level of innovativeness of the company, an analysis of financial data was employed in the study. Chi-squared, Welch's t-test, ANOVA and the ordered logit model were used to test the hypotheses. It was proved that there is relation between innovation strategy and financial constraints. The firms that are moderate innovators are financially constrained more than strong innovators, which can be linked with their better financial condition. Research confirms also that SMEs are still in a worse position compared to large enterprises in the area of access to different sources of capital. Secondly, innovative companies are exposed to additional difficulties in raising funds successfully, which confirms the validity of the used dedicated tools as a subsidy by authorities.