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The process of digitalization varies across organizations, with many encountering significant barriers that hinder them from fully using the benefits of digital technologies. This limitation is primarily attributed to a lack of knowledge and expertise. This study aims to answer the following research question: what are the most important factors that affect technology adoption in the service sector? Drawing from the literature findings, a semi-structured interview protocol was applied to facilitate exploratory discussions. Six service companies were analyzed. Based on the interviews conducted, organizational factors emerged as the most prevalent barriers and drivers, underscoring the importance of aligning digitalization with organizational goals. Furthermore, based on the interviews, we propose the extension of the TOE (Technology–Organization–Environment) framework to TOBE: this extension incorporates a dedicated behavior (B) dimension, which is crucial as it captures the nuances of employee actions, attitudes, and cultural influences that directly affect technology adoption and implementation. The addition of the behavior dimension allows the framework to better address the human element in digital transformation, ensuring that both technical and interpersonal dynamics are considered in strategic decision-making. During this research, 37 unique drivers and 27 barriers were identified. In both cases, organizational factors are the most frequent, followed by behavioral factors, highlighting the importance of aligning digitalization with organizational structures and considering behavioral aspects as well.
Implications for Central European audience: A key insight from our research is the critical role of strategic alignment in overcoming barriers; organizations in the CEE region often lack a coherent digital strategy or face misaligned priorities, which hinders effective implementation. Policymakers and industry leaders in CEE countries should prioritize initiatives that guide businesses in formulating actionable digital strategies, supported by leadership training and management development programs that enhance strategic clarity.

This study aims to statistically investigate the effects of an infodemic as an external stimulus on consumer decision processes based on the stimulus-organism-response theory (SOR). An infodemic is known as an epidemic of misinformation, and the literature on infodemics in marketing is quite limited. With the research model created for this purpose, the mediating role of brand trust (organism) in the relationship between both infodemic and positive word-of-mouth marketing (stimulus) and consumers' store visit intentions (response) is examined. The findings suggest that infodemic news and positive word-of-mouth marketing influence consumers' shopping behaviour. Being influenced by infodemic news does not have a significant effect on store visit intention directly, but it has a positive effect through the mediation of brand trust. In addition, both direct and indirect effects of positive word-of-mouth marketing on store visit intention are positive. This suggests that brand trust functions as a coping mechanism for consumers to deal with the uncertainty or negative impact of infodemic news and that consumers' store visit intentions can be increased by enhancing their trust in the brand. As a result, it emphasises the importance of brands developing various communication strategies to increase their credibility and influence consumer decision-making mechanisms.
Implications for Central European audience: The study aims to investigate the effects of infodemic posts and positive word-of-mouth marketing on consumers' trust in a brand and their intention to visit a store. By doing so, it seeks to provide strategic recommendations that companies can apply in their communications with customers. Data analyses show that being influenced by an infodemic does not have a significant direct effect on store visit intention, but it does have a positive impact through brand trust. Additionally, positive word-of-mouth marketing has both direct and indirect positive effects on store visit intention. The study highlights brand trust as a critical element that can mitigate the negative effects of infodemic news. It is recommended that businesses focus on sustainability projects, ethical practices and the principle of transparency to enhance brand trust.

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 were weighted using the LOPCOW method. The results of the analysis, conducted using the LOPCOW method, indicated that the Total Debt and Greenhouse Gas Emission (GHG) variables were of critical importance in determining the performance of the airlines in question. In the second stage of the study, the performance ranking of the airlines in question was carried out using the AROMAN method. The results of the ranking, as determined by the AROMAN method, indicate that the large-scale traditional airlines (Lufthansa, Air France-KLM, Turkish Airlines, and IAG) have demonstrated superior performance compared to the LCC airlines during the period spanning 2019 to 2022.
Implications for Central European audience: It is anticipated that the findings of the study will significantly contribute to the field of performance management in the European airline industry. Furthermore, they will provide airline managers and other stakeholders in the European air transport sector with insights that can be used to enhance the performance of airlines during crises, such as the recent pandemic caused by Covid-19.

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.

Cork is a natural, recyclable, non-toxic and renewable resource with unique functional characteristics that is part of a self-sustaining sector. It is increasingly being applied to fashion brands from its traditional use in the wine and construction sectors. This shift is posing new challenges, starting with the determination of the positioning axes that are viable to create brands with value. To answer this question, the methodology used consists of a three-step sequence that includes a series of interviews to identify potential positioning axes, a questionnaire with 152 answers to confirm the validity of these axes and then applying partial least squares structural equation modelling (PLS-SEM). The consumer-based brand equity (CBBE) pyramid model is used as the brand equity model. The results show that fashion brands of cork products can position themselves on the functional and symbolic axes. The axes are sustainability, Portugal, ecology, nationalism, heritage, lightness, creativity, biodiversity, softness, innovation, waterproofness and resistance. The application of PLS-SEM to the CBBE pyramid model has shown that brand equity can be built on the foundation of the validated positioning axes.
Implications for Central European audience: This study establishes a framework for the development of sustainable cork fashion brands, which are representative of the traditions or heritage that symbolically are a nation's identity. It comprises a structured sequence of interviews (to identify the positioning axes), a questionnaire (to ensure brand equity) and the application of PLS-SEM to the CBBE (to verify the compliance of the framework). Based on empirical evidence, this framework can be applied to other industries or products that want to create brands with value.

The circular economy is characterized as regenerative economy that aims to preserve the greatest value of products and materials. Currently, the transition to the circular economy is not only a necessity, but it gradually becomes a social and economic paradigm. The implementation of the circular economy gradually changes and will change the nature and intensity of every sector regardless of its reproductive cycle. For producers, particularly in the rapidly growing sectors, the development of innovative business models will be essential to comply with the principles of the circular economy. The fastest growing sector includes the textiles and clothing industry. The implementation of innovative business models in the field of textile and clothing industry is thus a challenge that the sector is facing. Slovakia as EU member state is facing the same challenge. Bodies operating in the textile and clothing industries must be gradually prepared for changes that brings the legislation and get ready for the trends that determine the changes mentioned. The article presents the results of research that shows the potential of the Slovak textile and clothing producers, coupled with the transition to the aforementioned new economic model, with a focus on implementing new circular business models into their activities, benefits and disadvantages of this procedure and the limits of implementation new business models into the activities of entities operating in the textile clothing industry in Slovakia.
Implications for Central European audience: This paper aims to contribute to the development of a topical and beneficial subject-matter related to transition from a linear to a circular economy in Central Europe. This entails knowledge on the imminent obligations of producers in one of the fastest growing sectors of Central European economies, i.e. in the textile and clothing industry. Such knowledge enriches the existing business models with a new business paradigm. In theoretical terms, this knowledge creates a platform for further scientific research potential and economic, business, and management education at universities. In practical terms, this knowledge represents a proactive approach of producers to the creation and implementation of innovative business models.

Diversity-oriented recruitment practices are increasingly recognized as a crucial component of human resource management, particularly in the context of globalization. However, the implementation of these practices varies significantly across organizational contexts and economic systems. This study examines the adoption of diversity-oriented recruitment practices in post-socialist European countries, where historical legacies and transitional economic conditions shape workforce diversity policies. Using data from the CRANET research network, the study analyzes responses from 1,270 companies in 11 post-socialist economies. A combination of descriptive statistics, Mann-Whitney U tests, and hierarchical regression analysis is employed to assess the influence of organizational type (domestic vs. multinational), sector (public vs. private), and size on the implementation of diversity-oriented recruitment practices. The findings indicate that multinational and private sector organizations are more likely to adopt diversity-focused recruitment strategies compared to domestic and public sector entities. Contrary to expectations, organizational size did not significantly moderate these relationships, suggesting that other factors play a more critical role. This study contributes to the literature by providing empirical evidence on diversity recruitment in transitional economies, a topic that remains underexplored. The findings offer insights for organizations and policymakers aiming to develop more inclusive recruitment strategies in contexts shaped by post-socialist institutional legacies. Implications for Central European audience: The findings of this study offer valuable insights for organizations operating in post-socialist Central European economies, where historical legacies continue to shape human resource management. The research highlights the role of multinational corporations in driving diversity-oriented recruitment, emphasizing the need for domestic firms to adopt more inclusive hiring strategies. Additionally, the limited impact of organizational size suggests that cultural and strategic factors may be more influential than scale. These insights can guide policymakers and business leaders in developing policies that foster workplace diversity, improve talent acquisition, and enhance competitiveness in increasingly globalized labor markets.

Creativity in the arts has been influenced by an environment where the integral parts are state provisions, which directly and indirectly support the development of the independent arts sector. The past decades have seen a change in the field of arts and the support thereof as part of creative branches. The paper focuses on new approaches of non-profit arts organizations to receive support for their activities using the principles of cultural entrepreneurship. The research was performed in the Czech Republic in the monitored period of 2008-2016. The theoretical part of the research is concluded by a proposal for a new definition of cultural entrepreneurship of non-profit cultural and arts organizations and is then implemented in the practical part. The practical part includes outputs of the author’s research in the field of crowdfunding platforms in the Czech Republic, outputs from the focus groups analysis and a selective survey. Apart from the research, there are outputs of three case studies from the field of non-profit arts, observing their economic behaviour as seen by cultural entrepreneurship. In the end, the paper presents a proposal for recommendations for the non-profit arts sector and the extent of strategic measures at the state level.

Currently, economic development of countries and regions is not possible without the implementation of the European Green Deal. A set of policy initiatives by the European Commission is closely related to concepts such as greening the economy, green finance, climate finance, climate change adaptation and mitigation, environmental protection and others. This research is dedicated to highlighting the role of green finance in environmental protection and development of the financial sector. Green finance connects the worlds of finance and business with environmentally friendly behaviour. In principle, all strategic decisions made by business organisations must take into account the potential impact on the environment, which means that value creation in the long term is integral to the well-being of current and future generations. The novelty of the research lies in the developed conceptual framework of the role of green finance in greening the economy. The conceptual framework covers three main elements of green economy: real green economy, green finance and providers of green finance – the green financial sector and public funds. It is developed by applying the methods of content analysis and synthesis, comparison and logical modelling, the model as a research design proposed by Jaakkola (2020), a system test proposed by Arnold and Wade (2015) and the main features of the conceptual framework presented by Jabareen (2009).
Implications for Central European audience: The main “green” economic and financial concepts are described and their interconnectedness is revealed in this study. This is important in the phase of greening the economy when various actors – users of information and decision-makers – interpret the concepts differently. Different understanding and thinking slow down the development of green economy. The developed conceptual framework provides a clear understanding of how business and public organisations, as well as individuals, can change their behaviour to environmentally friendly by investing in real investment projects or financial assets. Finally, the main research challenges and directions related to green real and financial investments are revealed.

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 new 11 EU members, have shown that FDI inflows influence BERD only in manufacturing sector. To confirm Dunning's investment development path (IDP) theory, the impact of net outflow foreign direct investment (NOFDI) on BERD was examined. We confirmed the specific IDP of new EU states and found a limited positive relationship between NOFDI and EU27 BERD in manufacturing, but gross value-added had a greater effect on BERD.
Implications for Central European audience: The Central European region, many of which were centrally planned economies in the past and underwent a transformation process, is the narrow focus of the article. Moreover, Central European countries are currently seeking a successful and effective development path, bolstered by research and development expenditures. Naturally, the article also provides a regional overlap perspective, as many other states can draw inspiration from the new member states and their respective development paths. Keep in mind that the Central European region's post-communist economies often serve as illustrations of Dunning's development path theory in action.

This paper explores the relationship between the performance of the Czech automotive industry and the performance of the Czech macroeconomy with an objective to fill in some existing gaps in the research on this topic. An overreliance on one sector could have harmful consequences for the competitiveness of the entire economy but sometimes also for the sector itself, particularly in the long run. We test several hypotheses in this context using two frameworks: a vector autoregression model with exogenous drivers and a vector error correction model, both built on quarterly time series data in the period ranging from 2000 to 2017 and validated out-of-sample on the 2018 and 2019 data. The results suggest that the macroeconomy appears to some extent forecastable by the performance of its automotive sector. This is further supported by the fact that the forecasting performance of the selected models looks reasonable. Likewise, the results show that the key variables proxying the performance of the automotive industry tend to converge to a long-run equilibrium or at least exhibit a long-run relationship with and/or vis-à-vis the selected macroeconomic indicators. This finding is in line with the fact that the automotive sector has an important position in the Czech economy also from a longer-term perspective. Yet, we have not found that the macroeconomy would be overreliant on automotives in general terms.
Implications for Central European audience: The text brings potential value for the Central European audience by drawing attention to the palpating discussion among policymakers, scientists, and the media about the reliance of the macroeconomy on the automotive sector. Hence, it suggests how independent individual economic policies may ultimately be, also depending on the share of the automotive industry on total output. It is also useful for the top management of the firms in the large automotive firms, be it producers or suppliers, as they may observe how the interconnections with the outer economy might look like. Likewise, for the banking sector, the paper disentangles potential issues with concentration risk and conveys information about industry-specific lending. Finally, the paper provides the Central European readers with information about how the linkages in the automotive industry can be viewed as a whole.

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.

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.

Trends such as advances in digital technologies and diversity in talent management necessitate continuous learning in the workplace and make European employers think about what competencies of their employees, in addition to basic digital competencies, are most in demand both today and in the foreseeable future. Considering this, identifying the main trends in employee training and development in the automotive industry in Central Europe and their impact on current and future competency profiles becomes the main purpose of this article. Both primary and secondary data have been analysed. The qualitative methodology in this article is based on the processing of the primary data from eight semi-structured interviews conducted from June to October 2023 with human resource managers and learning and development managers of selected Czech companies related to the automotive sector. An essential secondary data source was Eurostat’s Continuous Vocational Training Survey on employee training and development within European countries in 2020 among 113,000 businesses. The findings in this article demonstrate that digital competency and soft skills are currently the most important competencies for employee development within the automotive sector in Central Europe.
Implications for Central European audience: The results presented in this article emphasise the importance of adapting actual employee training and development programmes to technology trends influencing the automotive industry. It has been proven that employees’ soft competencies are preferable today and will be in great demand in the next three years. This is because soft skills support the successful implementation of change and improve the competitiveness of the business in the long term, and both education and development managers and employees themselves realise this.

The predictive value of tax allocations (deferred taxes) and their incremental power in explaining future cash taxes paid and current tax expenses in the agricultural industry is a topic of significant relevance. This is particularly important for policymakers and managers due to the complexity of accounting standards in this area. The goal of the paper is to enhance the understanding of tax planning techniques used by agricultural companies. We consider four variables crucial in our analysis: dependent (cash taxes paid and current tax expenses) and independent variables (deferred tax assets and deferred tax liabilities). Our modelling of the relationship reveals that current tax expenses have a predictive power to explain variations in the cash outflow for income taxes, making it a relevant factor. Deferred tax assets explain the cash tax outflow, while regression demonstrates the power and relevance of deferred tax liabilities in predicting variations of current income tax expenses in agricultural companies.
Implications for Central European audience: In Central Europe, the business environment and influence of the agricultural sector are similar to those in Serbia. Companies apply the same accounting standard for the recognition and evaluation of deferred taxes according to the IAS 12 standard. The results of this paper could be used by managers in all companies in this industry to apply adequate tax planning techniques to satisfy their tax goals and to minimize tax litigation risk.

The objective is to assess the quality and quantity of non-financial disclosures required by Directive 2014/95/EU for companies operating in the energy sector in the Czech Republic before and after the introduction of the obligation of non-financial disclosure for large publicly traded companies. The information disclosed by companies is the subject of quantitative research. Non-financial information in the form of annual reports or sustainability reports before (2015, 2016) and after (2017–2021) the introduction of the duty of non-financial reporting was the subject of the analysis. The textual analysis of these reports was carried out using IRAMUTEQ software and used to assess the quality of non-financial reporting of Czech energy companies. The quality of disclosures was evaluated in two ways: the length of non-financial reports (number of words, sentences and pages) and the incidence and number of occurrences of identified words. A paired t-test was employed for the evaluation. It was confirmed that those companies that were required to report non-financial information related to their operations in 2017 increased their disclosures in areas with the strongest environmental impact. This method could allow stakeholders to assess the quality of disclosure and its evolution over time with relative ease.
Implications for Central European audience: Companies should offer transparent information about the environmental impact of their activities and how they engage with employees and other partners. Non-financial reporting plays a crucial role in achieving this transparency. Given the substantial environmental footprint of companies in the energy industry, the objective of this paper was to assess whether companies operating in Central Europe provide stakeholders with pertinent information and to examine the impact of the Non-Financial Reporting Directive on the disclosed information.

To identify the most recent trends in the literature about the convergence of FinTech and Sustainability, this study combines bibliometric analysis with a thorough literature review using documents from the Scopus database. The current body of literature in a particular topic of research is thoroughly and methodically examined on a systematic literature analysis. One quantitative technique that makes it easier to identify current trends and underlying ideas in a subject is bibliometric analysis. Trends, evolution, bibliometrics, mapping, and qualitative content analyses serve as the foundation for the analysis. By following all inclusion and exclusion criteria, 116 papers that were taken from the Scopus database were bibliometrically reviewed in order to identify popular keywords, notable authors, institutions, and countries. WordStat was used for content analysis, and Biblioshiney and VOSviewer were used to determine the most cited papers. The results identified five noteworthy clusters. The results show a significant increase in the examination of the connection between FinTech and Sustainability starting in 2021, highlighting the significance of technological advancements and financial innovations in the corporate sphere.
Implications for Central European audience: The study's conclusions have significance for sustainability research as well as FinTech, stressing the importance of relevant research methods and the part FinTech plays in developing and putting sustainable practises and initiatives into reality. The study outlines the development of the literature on the connection between sustainability and fintech, offering insights into influential writers, countries, organisations, and journal sources. The study's insights help to direct future research in this field by providing a road map for more investigation and comprehension of the changing dynamics between sustainability and FinTech.

Entrepreneurship researchers have called for more investigation on the contribution of context in advancing entrepreneurship theory. The aim of the paper is to analyse the agribusiness enterprise performance by introducing collaborativeness as a dimension of entrepreneurial orientation. Agribusiness is a key regional sector representing a crucial ratio of employment, economic production. and future growth. Due to the sector`s importance and the many challenges it faces, the impact of a synergy approach entrepreneurial orientation model on agribusiness performance is tested.
Structural equation modelling is used to test data collected from 120 agribusinesses located in Albania. Study results show collaborativeness as a dimension of the extracted entrepreneurial orientation model which provides a synergy between the actors of entrepreneurial value creation and has a significant direct contribution to enterprise performance.
Implications for Central European audience: Even though the results are related to agribusinesses in Albania, the findings of this research may advocate that to enhance enterprise performance in fragile sectors and emerging economy markets, the synergy among the value creation actors of the entrepreneurial process is a necessity. Besides the theoretical implications, this study has also some practical implications for policymakers, entrepreneurs and researchers.

Mergers and acquisitions (M&As) play an increasingly important role in the expansion of Chinese companies in the European market. The article aims to analyze the largest, in terms of value, M&As conducted by Chinese companies between 2005 and 2015 in the energy sector, in order to present the main premises and consequences of such agreements. For this purpose, the assessment was made based on case studies conducted by the Author, as well as the opinions of experts specializing in the business models of Chinese enterprises, derived from qualitative interviews. Specialized literature on the discussed forms of international expansion of Chinese enterprises was also used. Based on the case study method, analysis of the agreements shows that decisions on conducting M&As are strongly influenced by the adopted strategic directions of the companies’ development, their desire to develop a competitive position on the market and improve their financial condition. The effects, in turn, were addressed, taking into account the dimensions of the strategic and tactical importance for companies.

In the days when the notion of “keeping up with Joneses” is stepping back to “keeping up with the network”, it is of great importance to seek an understanding of how classical theories and thoughts (such as Veblen’s conspicuous consumption theory from 1899) are potentially affected as a result of the development of social media (SM). Nowadays, social media catalyses conspicuous consumption while expanding what is considered a social group and social classes and fuelling the aspirant group influence and social comparison. This paper provides a theoretical framework of the conspicuous consumption school of thought and characteristics of premium luxury fashion goods. It traces deep-rooted consumption patterns from Bulgaria's background and argues the potential underlying motives of conspicuous consumption. It further investigates consumer behaviour and addresses the existing gaps in the extant academic literature by discussing the results of an online survey among 130 respondents (53.1% of the respondents were 25 years of age or less, and 46.9% were above 25). The main objective of the paper is to study the relationship between variables of conspicuous consumption, the symbolic value of images displayed online, social media intensity and the fulfilment of social needs in the context of Instagram as a selected social media. The study data demonstrate that Instagram intensity fosters social comparison, which leads to an increased need for uniqueness. Younger individuals and females, in general, have the desire to project a conspicuous image online, and they would most likely post their luxurious premium fashion products online. Our findings confirm that social media fosters social comparison, resulting in an increased need for differentiation, uniqueness and social conformity. The findings add to a growing body of literature on social media and substantially to our understanding of Bulgarian customers’ perception of premium luxury fashion products.
Implications for Central European audience: The paper builds on extant literature in the field of conspicuous consumption, which is a common phenomenon in post-socialist countries. It provides a custom methodology for studying the conspicuous display of fashion items on Instagram, which is one of the most used communication media on a regular basis among young people in CEE (Eurostat, 2022) and the second most popular social media in Europe (Statcounter, 2022). The distribution of global social media users accounts for 5.7% in Central Europe and 5% in Eastern Europe (Statista, 2022). The results can be used by companies in the sector, new entrants, influencers, opinion leaders, etc.

A frequently discussed topic nowadays, especially in business, marketing or human resources, is the generation gap. Young people have a relatively strong environmental sense, which is also reflected in their choice of employment. When formulating the hypotheses, we proceeded from theories of social capital. Gen Z, which has grown up and matured in a fully digital world, attracts a lot of attention. This is evidenced by the many expert studies on the subject. One important reason for studying the behaviour and attitudes of Gen Z is their significant purchasing power. These people are on the rise or approaching the peak of their professional careers. In this paper, we focus on the topic of sustainability, attitudes towards waste management and electric vehicles. The paper aims to contribute especially to the analysis of the relationship between the declared benefits of the researched topics and the willingness to give up one's comfort to fulfil them. The analysis is based on primary data collected in 2023. The analysis conclusively confirms that the topic of sustainability is important for the young generation. Representatives of Gen Z exhibit a high level of critical thinking in the area of waste sorting and, in particular, the environmental benefits of electric vehicles. They are interested in real environmental benefits. The willingness to give up one's comfort is lower than the declared benefits of the phenomenon.
Implications for Central European audience: This paper addresses the topic of sustainability through the eyes of the young generation, specifically members of Gen Z. This is a topic of great importance for the European economy. The economic sector is forced to respect both EU regulations and the market environment, which, as our research shows, is not always in line with these regulatory interventions. Our research reflects the opinions of the young population in Czechia. Scholars can use the results for follow-up research studies, and so can practitioners in the field of marketing, strategic business orientation or human resources, especially when setting up communication with the young generation.

Nowadays, many companies make a great deal of effort to take full advantage of digital transformation and stay ahead of their competitors. The influence of digitalisation on manpower development and human capabilities as well as on the business environment, in general, is especially noticeable in the construction and automotive sectors. That is why the main purpose of this paper is to evaluate the impact of new digital technologies on employee competency development in Czech construction and automotive companies. The quantitative methodology is based on primary data collection conducted from July through October 2020 using the CAWI method. As a result, 27 responses from Czech construction companies and 39 responses from Czech automotive companies have been gathered in Survio software, processed and analysed by using descriptive statistics and Pearson’s chi-square test of independence. The qualitative data analysis applied in this paper includes three semi-structured interviews with human resource managers of selected Czech companies in the automotive industry. The advantages and disadvantages of the Covid-19 pandemic situation from the point of view of human resource management and employee training have also been analysed in the presented case study. The findings in this paper confirm that creating a digitally ready workforce and changing the employees’; mindset towards the new style of doing their jobs remain significant challenges to deal with in the Czech construction and automotive industries.
Implications for Central European audience: This paper focuses primarily on the training and professional development of people employed in the construction and automotive sectors, which have been highly affected by the ongoing digitalisation of business and the current Covid-19 pandemic situation. As the results further demonstrate, the widespread use of digital technologies can definitely help to enhance employees’; digital competencies. However, the employees still have to get used to a digitalised workplace. In such conditions, the role of human resource managers is key in the implementation of continuous training as part of the corporate culture.

The automotive industry is regarded as one of the most robotized sectors of the manufacturing industry. The topic of robotization is currently intensely debated as part of the Fourth Industrial Revolution or Industry 4.0. In this study, we focus on automobile manufacturers operating in selected countries of the European Union and analyse the level of labour productivity and employment in the period 2002-2021. Specifically, we investigate whether the annual installation of robots and the total number of robots in the automotive industry have a negative impact on labour demand. The collected data are evaluated using empirical analysis. Our estimations show that the installation of robots in the automotive industry has a positive effect on labour demand. At the same time, however, it is found that labour productivity tends to decrease as the number of robots increases. A possible explanation for these results is that major manufacturing activities in this sector are being replaced with machines at the expense of human labour.
Implications for Central European audience: Theoretical implications of the article arise from primary literature, which investigates the implications of industry robotization on the labour market. The practical implications stem from our empirical analysis, which investigates the impact of robotization on labour demand and productivity in automobile industries across the EU. 

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: a comprehensive index allowing compensation between dimensions and an aggregate evaluation index. Using one-way ANOVA, we compared sustainability indices across the business categories. Results revealed no significant differences in sustainability performance, irrespective of the indicator used. Robustness was confirmed with four control variables (gender, educational attainment, entrepreneurship phase, and number of jobs created), none indicating significant differences. No significant correlations emerged between sustainability indices and entrepreneurs’ age. These findings align with prior analyses, indicating no marked differences in sustainability attitudes between family and non-family firms. Two factors may explain these results: Hungary’s market dominance by microbusinesses due to disrupted business traditions during the socialist era and GEM’s focus on entrepreneurship, favouring smaller entities like sole proprietorships.
Implications for Central European audience: This study underscores the need to continuously develop sustainable business attitudes. It also offers a recent literature review, providing valuable insights for Central European researchers, corporate leaders, and family business managers.

The widespread use of blockchain technology (BCT) and the growing awareness of the numerous opportunities it offers its users have been the focus of recent research. Digital natives are surrounded by technology from birth and are naturally inclined to embrace it, but previous research has not addressed their attitudes towards BCT. This paper aims to investigate digital natives' attitudes towards the use of BCT in Croatia. The survey method is applied and data from 518 questionnaires are analysed with PLS-SEM. Results show that privacy threat, social influence, trust in BCT and trust in the community of blockchain users have a statistically significant positive effect on intention to use BCT. The study identifies the importance of BCT use from the perspective of users who belong to the digital native category, developing a model to better understand behavioural intentions at the individual level and presenting a starting point for future research on this topic.
Implications for Central European audience: The research findings may be of interest to audiences in other Central European countries, where blockchain technology is an extremely important segment of emerging technologies and Central Europe in particular is experiencing exponential growth in the use of this technology. Policymakers in Central European countries can benefit from the findings of this study to formulate policies that support the growth and regulation of the blockchain industry, including information that can contribute to informed decision-making and policy formulation, ultimately contributing to the growth and success of the blockchain technology sector in the region. From a theoretical point of view, the research results represent a contribution to the study of consumer behaviour, especially from the perspective of the use of innovative technologies. The practical contribution is reflected in the possibility of applying obtained results in the development of adequate marketing strategies that help BCT providers improve the quality of their offer and thus meet the modern demands of the digital natives’ segment.

An increasing number of articles published on the nexus between corporate sustainability disclosure (CSD) and tax behaviour (TB) have enriched the academic research landscape. However, they have provided inconclusive results as to the nature of the connection and have not yet adequately examined the sources of variation that might moderate the effect sizes under investigation. This study performs a standard meta-analysis and synthesises the empirical-quantitative results regarding the CSD-TB connection, following Hunter & Schmidt's (1990) research design. Several criteria are employed to collect documents with methodological and content relevance. The selection process results in a final dataset that includes 50 articles covering the period from 2012 to 2022. The findings reveal that the CSD-TB link is not significant enough for practical purposes, while an investigation of moderating variables that can explain the different findings of earlier studies shows either no or little connection. The benefit of such a no-results analysis for the research community is to redirect future researchers, especially PhD candidates, to examine other factors affecting corporations’ TB. In terms of limitations, the meta-analysis is based on the availability of the existing corpus of knowledge and consists only of empirical studies with Pearson correlation coefficients and standardised beta coefficients.
Implications for Central European audience: The present study provides evidence that may influence policy-making processes at the European and international level, particularly with regard to corporate tax transparency. The findings suggest that the implementation of CSD has not proven to be effective in terms of tax behaviour. A meta-analysis of the available data shows no statistically significant correlation between CSD and the tax behaviour of businesses, thus challenging the assumption that CSD obligations can act as an effective tool to enhance tax compliance, which implies that other means of enhancing tax compliance need to be explored.

The article researches the impact of anti-ESG factors on financial markets in China and its consequences for the countries of Central Europe. In this connection, the specific aim of the article was to analyze whether CO₂ emissions, as the main factor against ESG concept, negatively affect the return of stock and bond investments in the extreme environment of the world's largest producer of emissions - China. The multiple linear regression (MLR) model method was used for explaining the investment return according to Khan’s and Long’s model specification, applied on annual data for investment horizon from 1991 to 2023. The results at the 5% level of significance (p < 0.05) surprisingly showed that emissions have a positive impact on Chinese stock prices (β = 0.079). This reflects that instead of environmental goals stock investors in China rather have a preference for economic growth, for which China's emission-intensive industry is crucial. On the other hand, ESG-related issues have a slightly negative impact on bonds (β = -0.031), which emphasizes the greater importance of environmental factors for fixed income investments. Overall, the research offers valuable insights into the complex relationship between CO₂ emissions, investment performance and investor sentiment in China, which may have significant implications for other countries subject to strict ESG regulations, as well as the potential to use ESG strategies to increase the attractiveness of their financial markets. Implications for Central European audience: Understanding the impact of CO₂ emissions on Chinese financial markets, holds significant implications also for Central European countries, as ESG is at the forefront of EU regulatory framework. Particularly within the Visegrad 4 (V4) alliance, where industrial production in sectors like car manufacturing plays a crucial role in economy, finding a balance between economic growth and environmental responsibility is paramount. The article therefore implies that by integrating ESG in investment strategies, Central European countries can possibly enhance the attractiveness of their currently passive financial markets. At the same time the findings help societies as a whole, by emphasizing the financial benefits of building a more sustainable future.

The paper assesses the perception of clothing products’ quality using two independent samples of Czech respondents answering a questionnaire. It fills the current research gap in revealing how the quality of clothing products is currently perceived by different socio-demographic groups and whether other factors neglected previously (e.g., type of store, store’s trade name, etc.) contribute to the perceived garment quality. The results show that age plays an important role in assessing some of the parameters by which people define whether garments are quality garments. This demographic criterion also influences the intensity of quality consideration when people buy a product, but no statistically significant dependence was found for the intensity of quality consideration when people buy a clothing product. These and other papers’ results may help companies in the clothing industry, and the related sectors better comprehend how different categories of people determine garment quality.
Implications for Central European audience: Businesses active in the apparel and fashion industries may better understand the current preferences of Czech customers regarding their clothing quality perceptions. The results could also be useful for managers in other countries of the Central-European region.

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 remotely in Vietnam. The questionnaire includes close-ended questions sent to these employees via e-mail between January and June of 2023. The collected data are then processed and analyzed by SPSS v.22. The study applies Cronbach’s Alpha as a tool for assessing the reliability or internal consistency of scales. The following is the exploratory factor analysis (EFA) and the regression analysis. The research findings indicate that higher job satisfaction levels are a significant predictor of higher perceived job performance when working fully remotely in Vietnam for European enterprises.
Implications for Central European audience: This study's insights on managing remote workforces in a developing country context can guide Central European enterprises in tailoring their remote work strategies when expanding their businesses into Southeast Asian countries such as Vietnam, where the trend of remote work is on the rise. It emphasizes the significance of comprehending local dynamics and meeting employee needs to improve job satisfaction and performance in remote work environments.

This paper aims to explore the effects of chief executive officer (CEO) characteristics on managerial risk-taking behaviour and the moderating impact of audit committee (AC) ownership and ethnicity in this relationship. The underlining theory employed in this study is the upper echelons theory (UET). Data were hand-collected from annual reports of the top 100 Malaysian PLCs over 2015-2020 and were analysed through multiple regression analysis and Hayes’ process moderation analysis. The findings suggest that CEO age negatively affects risk-taking. The results, however, do not support the use of CEO tenure and gender as proxies for managerial risk-taking behaviour. AC ownership has a significant positive moderating effect on the relationship between CEO age, tenure, gender and risk-taking. Contrarily, AC ethnicity only significantly moderates the association between CEO gender and risk-taking. This study further adds to the existing literature considering these independent variables.
Implications for Central European audience: This study serves as a good yardstick for exploring the effects of CEOs’ characteristics. While this study is within the Malaysian context, it is undoubtedly useful in the Central European context. Risk-taking behaviour can be dispersed over all sectors, especially as this study employs the UET theory. The findings would set a comparison for corporations in Central European countries.