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Abstract

This paper presents the first comprehensive systematic literature review of articles from the last five years published on enterprise-scaled agility and offers practical insights for organisations looking to become more agile. The management literature on agile structures is still relatively scarce and fragmented, but emerging. Our results highlight the characteristics, advantages and tensions created by agility at the organisational level, and give insight for executives to support their decisions on organisational design. By examining the structural, cultural, and leadership antecedents that are necessary for success, this paper contributes to the ongoing debate about agile organisations. The concept of ‘Agility Forest’ proposed here will contribute to the better understanding of the connections between structure, culture, and leadership.

Open access

Abstract

One of the important issues of banking today is the role bank branches and online banking solutions play in serving consumers. With the help of a representative Survey of 1,000 adults in Hungary conducted in 2022, we examine how well online and mobile banking solutions can provide a suitable alternative to bank branches. Based on our results, online banking solutions cannot fully replace personal banking in Hungary due to the customers' attitudes, as we can see that their use does not significantly affect the frequency of visits to the bank branch, and their usage rate does not increase with the distance from the bank branch. We also point out that for the Hungarian population the trend of bank branch closures may entail the risk of being left out of the formal financial system mostly for the older, digitally less receptive social strata living in small settlements and in a relatively worse financial situation.

Open access

Abstract

This paper explores the ambiguous relationship between Confucian culture and innovation based on the scholarly literature. Applying a scoping review approach, the purpose of the literature review is to uncover the reasons behind the ambiguities of empirical research results and conceptualizations of how Confucianism affects innovation on the individual and on the organizational level. The paper builds on the assumption that the different operationalizations of Confucian culture are behind these contradictions. Since Confucianism is an ideology that has developed for over 2000 years, and even its most often cited virtues and principles are quite heterogenous, approaches to its operationalization in the field of management are also diverse. The results of the literature review indicate that different approaches to Confucian culture indeed show homogeneity in the conceptualization of the Confucianism-innovation relationship. Virtues and principles related to rigid hierarchies and great power distance have a detrimental effect, while others a rather positive one. Therefore, the paper argues that a more specific denomination of cultural factors should be necessary to avoid biased and unspecified results in both theoretical and empirical approaches.

Open access

Abstract

Given that knowledge is one of the most important human resource values, the manner of its acquisition, transfer and development within an organisation is crucial. It should come as no surprise that given the link between knowledge acquisition and development in most spheres, several individuals wish to restrict their knowledge to themselves, as it gives them value in the labour market. Yet, if we inculcate knowledge sharing habits among individuals at an early age, so that they not only impart but also acquire knowledge through knowledge transfer, information acquisition can become a mutually beneficial process for both providers and acquirers. In this study, we conducted a survey among university students in Hungary to investigate how open they are about sharing their knowledge with each other and what they expect from their peers in exchange for the information they have. Data analyses showed that students' willingness to transfer knowledge and their expectations in return for the knowledge transferred are greatly influenced by their mutual relationships, but the strength of these relationships impact the rewards they expect for knowledge transfer.

Open access

Abstract

The COVID-19 pandemic affected all countries both in social and economic dimensions. Currently, vaccination is considered to be one of the most efficient solutions which can stop the further spread of the virus. Therefore, the paper aims to understand the factors that determined the social approval of the COVID-19 vaccines in Romania. To get a detailed picture on the situation, we looked not only at economic variables, but also at social and demographic components. Accordingly, the findings of the analysis list the variables that significantly influence the vaccination rate nationwide. The social approval (or the refusal) of these shots is a complex issue, thus it is essential that policymakers make decisions based on scientific evidence. The practical relevance of the paper lies in the two policy implications suggested (i.e., transparent and predictable policymaking and adjustments on the level of the education system in the long run for similar situations), which also highlight the importance of evidence-based decision-making processes in public health. Our analysis method consists of multivariate cross-sectional OLS regressions.

Open access

Large firm effect in enterprise risk management

Empirical evidence of Hungarian corporations

Acta Oeconomica
Author:
Barbara Dömötör

Abstract

Micro-level risk awareness affects macro-level financial stability as well. Thus, the corporate risk management practice impacts the exposures and the potential fragility of an economy. While corporate risk management is accepted to create value in an imperfect market, the effect of the firm size is not straightforward. Smaller, financially constrained firms can benefit more by engaging in risk management programs, but larger corporations face more complex risks and have more resources for this activity. Empirical studies on risk management focusing mainly on the US market, highlight a positive relation between the firm size and the quality of risk management that includes not just the hedging of financial risks, but the concept of integrated risk management as well. The aim of this paper is two-fold: first, to summarize the existing literature on corporate risk management with a special focus on the effect of corporate size; second, to contribute to the existing literature by investigating a Central European market, Hungary. The findings are similar to those of the existing global literature, as derivatives usage, and applications of an integrated risk management concept increase with firm size. Although all firms in the sample manage their foreign exchange risk, interest rate hedging and more sophisticated derivatives, like options, are much less widespread in Hungary, compared to the US and Asian peers. The size effect is proven for the objective criteria of risk management quality by comparative analysis and a structured modelling framework, however, the subjective self-evaluation was uncorrelated to the size.

Open access

Abstract

I examine the relationship between the internationalisation of family firms and innovation. After the review of the relevant literature, I group together the narrow research topics addressed in the literature, which largely confirm the positive relationship between the two categories. Moreover, I demonstrate a theoretical framework which, according to the literature, can be implemented to put socio-emotional welfare and entrepreneurial orientation, which are restraining the internationalisation of family firms, on a common path, so that they can contribute to enhancing the innovative and international performance of family firms in a mutually supportive way.

Open access

Abstract

The paper takes a special perspective to summarise what researchers have revealed on global value chains in Hungary. The ‘space-time’ structure is how the ‘force field’ of the amount of value added is shared and how the process it creates characterises specific global value chain networks. There is a growing literature that reveals the ‘dents’ of the GVC force field: the uneven distribution of value-added content, and mainly the controversial possibilities to upgrade in the network. Hungary is a typical example of a semi-peripheral or integrated periphery country. The paper discusses the lessons of different global value chain relations of the country in different geographical environments in terms of the two dimensions of ‘space’ and ‘time’; that is the potential and structure of value added and its dynamics, as well as compares them through an automotive industry case study.

Open access

Abstract

This paper investigates Hungary's inflationary exposures to global price movements using a simple cost-push input-output price model and a database of inflation-to-output price elasticities (Global Inflation-to-Output Price Elasticity Database, GIOPED) developed on the basis of the OECD's Inter-Country Input-Output Tables. Inflation elasticities are decomposed into local, simple, and complex global value chain effects by applying Wang's decomposition scheme (Wang et al. 2017) to price movements and inflation. Our empirical analysis based on GIOPED elasticities shows that Hungary is highly exposed to global value chain price transmissions originating in Germany, Austria, and Russia; and in particular to changes in energy prices. The crude oil and natural gas price boom and the resulting energy crises caused a significant increase in consumer price levels in Hungary; however, this explains only a fraction of current inflation rates.

Open access

Abstract

Trade analysis for open economies is strategically important. Even though Hungarian trade relations are oriented towards the EU, the direct and indirect influence of Asia, mainly China, needs special attention. The paper focuses on direct bilateral relations between Hungary and China. The global value chain perspective enables the research to detect inter- and intra-industry dependencies and unfold and compare the industry focuses and dynamics of backward and forward linkages between 2000 and 2018. We used a mixed methodology, combining input-output analysis with company case studies based on a wide range of literature both from Chinese and East-Central European researchers. The findings support the significance of global value chain relations, highlight the restructuring of Hungarian trade relations with China over the past twenty years, and indicate the strong concentration of relations in terms of the number of companies.

Open access