Browse
Abstract
This paper aims to enhance the understanding of the influencing factors and consequences of feedback, with a particular focus on brand outputs and co-creation, and to identify future research areas related to feedback. First, we propose to clarify definitions by introducing actionable customer feedback and drawing clear distinctions among synonymic concepts used in the literature. Then, we conduct a systematic literature review of 73 journal articles from the past two decades and synthesize their findings in the feedback, brand, and co-creation intercept. We also introduce a structure for feedback-related antecedents, moderators, mediators, and performance outputs. As a main contribution, we offer a visual representation of the findings of the systematic literature review to support scholars of customer behavior who are discovering their own directions according to their expertise. Through the use of visual tools such as tables and figures, we provide summary statistics reflecting the methodologies used in the literature, the industries involved, the geographical spread, and adjacent theories used. We also summarize the different positions of feedback within conceptual frameworks. We contribute to the literature by proposing and visually demonstrating new grouping dimensions of the antecedents, mediators, moderators and performance outcomes of the feedback literature. Finally, we recommend directions for future research on actionable feedback. We recommend studying the mediating and moderating impacts of demographics, gender, environmental characteristics, geography (especially developing economies), and B2B businesses on actionable feedback. The roles of trust and feedback in brand outputs, for example, brand value and brand equity, requires further investigation. Finally, we recommend exploring constructs in which feedback plays multiple roles in different positions.
Abstract
Recent research has suggested that unconditional convergence no longer exists. Thus, this study examined the income convergence among 11 Central and Eastern European (CEE-11) countries that joined the European Union in/after 2004 and Europe's four largest economies (Germany, France, the United Kingdom, and Italy) by using panel data from 1994 to 2019. For this purpose, it employed the beta (β) and sigma (σ) convergence approaches to analyze the dynamics of economic growth. Based on the findings, in 1996, the four largest European economies had a higher capital–labour ratio and GDP growth than CEE-11. However, by 2019, the patterns reversed. As for the regression results, there was strong evidence of unconditional β convergence between 1999 and 2019, at an annual rate of 11%, with the σ convergence and the fixed effect models further supporting income convergence. Moreover, although brief divergence occurred during various financial crises, the overall trend was a significant convergence of CEE-11 with Europe's four largest economies through higher relative GDP growth. This study contributes to the economic growth theory of income convergence across countries and highlights the importance of regional integration in enabling sustainable catch-up growth.
Abstract
Digitalisation presents a significant challenge for small- and medium-sized enterprises (SMEs), as they generally lack the required competencies and qualifications for a digital transformation. However, crises such as the COVID-19 pandemic have highlighted how digitalisation can improve SME efficiency and unlock new markets. This paper aims to contribute to the empirical literature by analysing the factors influencing Hungarian entrepreneurs' activities and attitudes towards digitalisation during the COVID-19 pandemic. The results are based on the quantitative analyses of Hungarian datasets of the Global Entrepreneurship Monitor (GEM) spanning 2021 to 2023, complemented by figures from a representative survey of SMEs in 2022. Our findings show that while nearly all SMEs utilise digital devices, adopting more advanced solutions remains low. Although the pandemic somewhat accelerated the digitalisation efforts, most entrepreneurs do not expect to use more digital solutions in the next six months. There is no consistent correlation between digitalisation and entrepreneurial motives, as the cluster analyses did not provide homogenous groups of entrepreneurs in the years analysed, so we can conclude that digitalisation efforts may be even among them. Thus, to overcome the challenge of digitalisation, policymakers should incentivise entrepreneurs to improve their digital skills and implement digital solutions.
Abstract
The paper analyses the Loss Given Default (LGD) rates of residential mortgages, using a model based on stochastic collateral value. The implementation of the model is based on exponential Ornstein-Uhlenbeck processes fitted to the Hungarian regions' house price indices. According to the model results, in case of a mortgage with a 80% loan-to-value ratio at origination, the expected LGD is around 30–40%, depending on the region. The highest LGD rates are estimated for villages, while the lowest rates are expected in Budapest and cities in the middle of the country. The range of the regional differences can reach 7 percentage points. According to the LGD Risk index based on the aggregated model, the LGD risk profile of recently issued mortgages has improved significantly since 2009 in Hungary.
Due to the strong negative relation between the house prices and mortgage default rates, the expected return on defaulted collateral value tends to be low. The results could be relevant for credit institutions in their mortgage origination decisions and enhance analysis of lending processes and the associated risks.
Abstract
This contribution aims to address the intriguing issue of whether Industry 4.0, as a techno-economic paradigm shifter, may have a greater potential for exaptation (i.e., using it not for pursuing of quantitative but that of qualitative development) and, if so, what technologies may accelerate this process. Existing research indicates that graphene technology has the potential to lead the way in this area. The paper addresses not only why and how a graphene-aided Industry 4.0 can be conducive to this function (i.e., making exaptations easier on a larger scale), it examines the wider context for exaptations by questioning whether the current setup of the real economy, the financial universe, and the public sector offers a supportive environment for exaptations.
Abstract
This study examines the complexity in the Eastern European economies, with a focus on the role of foreign direct investment (FDI). Despite transitioning to market economies, these countries remain economically fragile and dependent. Their lower technological complexity and reliance on foreign capacity make them vulnerable. However, some countries like Austria and Poland demonstrate successful integration of production and innovation. The analysis shows FDI has a limited impact on developing complex knowledge but contributes positively to economic complexity. Results also indicate that in the long-term, economic and technological complexity does not lead to accelerated total factor productivity growth, contrary to complexity literature. Combining labour with innovation, safeguarding local industries, and prioritizing education and research are more effective approaches. The study clearly shows how Hungary is stuck in an “assembler trap.” It also finds that the gap between economic and technological complexity negatively affects liberal democracies.
Abstract
This paper investigates the use of redundancy procedures (RPs) by small and medium-sized enterprises (SMEs) in Spain during the COVID-19 pandemic. The novelty of this study is that it goes beyond the direct influence of the determinants of RPs on RP use, and analyses how the interactions among them moderate the direct effect. In contexts of rising uncertainty, businesses need to adapt their operations and fixed costs, including staffing. While teleworking is an alternative to RPs, our results show that it was not enough to deal with the negative impact of a worsening crisis. Moreover, when the survival of the business is at stake, the use of RPs increases further when the company is simultaneously affected by changes in demand and liquidity issues. We argue that our results reveal the need for flexible tools along with the policies that take into account the fact that businesses' reactions are contingent on their exposure to risk.
The influence of family business background on the entrepreneurial intention of individuals
A quantitative study of Hungarian university students
Abstract
With an overall aim of providing insights into fostering an entrepreneurial mindset and promoting economic development, researchers have devoted notable attention to intentional and motivational factors for starting businesses, as well as those influencing processes from idea generation to the realisation of a new business. This research project aims to investigate the influence of family business background on entrepreneurial intention. One of the novel features of the approach is the rigorous statistical exploration of direct and moderating effects of family business background while accounting for other factors influencing entrepreneurial intention. The analysis is based on a survey of 590 active university students studying business and economics in the seven largest universities in Hungary. Hierarchical regression analysis was applied to examine how the existence of family business background can influence and moderate relationships between individual factors and entrepreneurial intention. Results confirm that family business background has a significant positive impact on entrepreneurial intention and is most likely to exert its impact through increased human capital levels, entrepreneurial knowledge, skills and experience. The findings not only contribute to accumulated knowledge of the interdisciplinary family entrepreneurship field, but also have policy and educational implications.
Abstract
The paper presents the results of research on the impact of national culture, Big Five personality traits, and emotional intelligence on job satisfaction in teleworkers. The impacts were also examined in conventionally employed, which enabled a comparison. The research was conducted in the countries of the Western Balkans and included 313 respondents. The job satisfaction of teleworkers is most positively influenced by humane orientation, performance orientation, agreeableness, conscientiousness, openness, self-regulation, and social skills. Self-awareness can act both positively and negatively, and neuroticism has a negative impact on job satisfaction. National culture has a greater impact on job satisfaction among conventionally employed rather than within teleworkers. Big Five personality traits work differently: extroversion has a greater impact on job satisfaction among conventionally employed, while agreeableness and conscientiousness have a greater impact on job satisfaction among teleworkers. Emotional intelligence has a greater impact on job satisfaction among conventionally employed rather than teleworkers. Teleworking employees are less influenced by the environment, and thus less influenced by national culture. Emotional intelligence helps conventionally employed work more, while teleworkers place higher value on the results of their work.
Abstract
In a recent pilot study, we examined the potential benefits and opportunities that ChatGPT can bring to higher education, particularly from the perspective of business students and educators. The study included 41 participants and aimed to explore their opinions on using ChatGPT in business language classes. Twelve students did not use ChatGPT during the course (control group), while 29 students used it actively (experimental group). Examining their experiences and comparing the two groups, it is evident that students see the benefits and disadvantages of ChatGPT and use it for tasks they find helpful. However, the practice and hands-on experience helped the experimental group members gain much more diverse and nuanced opinions about ChatGPT. These results underline that universities and their boards must embrace the technology and find reasonable areas to use ChatGPT. These may not only be connected to assignment forms and plagiarism, but can embrace more general topics, like equal eligibility to these new technologies or strengthening the students' social and emotional intelligence and skills to help their future lives.
