Browse Our Business and Economics Journals
Economics and business journals focus on publishing papers coming from the fields of applied economics, corporate finance, financial investments, markets, institutions, industrial organization, international trade, marketing and similar.
Business and Economics
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.
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.
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.
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.
Abstract
Multinational companies in the fashion industry operate on a global level. Fashion was one of the first industries that outsourced production to developing countries and allowed exploitation and environmental pollution to remain hidden. But concerns regarding the industry's (un)sustainability are rising, regarding both the environmental and the social aspects. Fashion consumption is on the rise and the industry is among the most polluting ones. With this paper, I join the debate on how to force fashion MNCs to operate sustainably. There are two opposing views on where change should come: from above (regulation) or from below (change in customer habits and the activity of sustainable fashion NGOs). According to one view, fashion is underregulated and only legislation can be a solution: MNCs will only operate sustainably if they are forced by law. The other group claims that customers should drive green initiatives as their demand catalyzes MNC production. I claim that neither side is enough, as sustainability is not necessarily the number one consideration for customers or policymakers. In this conceptual paper, I use document analysis as a qualitative approach, and descriptive statistics to support my position.
Abstract
This research investigates the proactive and reactive measures applied by Czech and Hungarian automotive companies following Russia's invasion of Ukraine. We apply a qualitative methodology and analyse interviews with company managers to learn about the applied measures. The results reveal that the resilience gained during the COVID-19 pandemic involved proactive measures, which companies have kept in place. Reactive measures involved production replanning and alternative transportation. Adopting multiple sourcing strategies in the automotive sector is limited and more reactive rather than proactive. The important antecedents of agility are information sharing and cooperation within multinationals.
Abstract
The Environmental Protection Agency classifies healthcare as one of the leading energy-consuming industries. Extensive energy is needed around the clock in healthcare institutions for lighting, ventilation, and operating medical equipment. However, there is a growing concern over the sustainability of energy utilization by healthcare institutions worldwide. This narrative review thus seeks to examine energy efficiency and utilization in healthcare institutions and energy management and conservation techniques and make recommendations for future optimal usage. The paper notes that healthcare institutions use different quantities of energy from diverse sources, including hydropower, biomass, solar energy, and wind power. However, energy consumption varies from one institution to another, with the number of beds and intensity of healthcare operations, with an average of 0.27 MWh m−2. Moreover, this review also identified various techniques and measures to enhance energy efficiency, such as the variant refrigerant flow technology and the combination of renewable energy sources with diesel generators to reduce the cost of electricity. Overall, healthcare institutions need energy management systems such as automated energy monitoring technologies, to check the systems' efficiency. The same techniques can also help Middle Eastern healthcare institutions with efficient energy utilization. Ultimately, the literature review aims to introduce an approach that focuses on reducing site-level consumption of energy while increasing the quality of the energy used and hence, helping reduce energy costs while conserving the environment.
Abstract
The objective of this paper is to review the academic literature and identify best practices on the integration of artificial intelligence and sustainable technologies in strategic renewable energy and Power-to-X projects globally. We reflect upon the way in which exemplary case studies can be used to foster a common shared view among different policy makers to highlight new ways through which energy efficiency and systemic improvements in the energy sector may be achieved while curbing carbon emissions and addressing climate change. The main risks, challenges and mitigations for integrating artificial intelligence and sustainable technologies in energy systems are also educed from both the academic literature as well as interviews with experts. Our findings indicate that while the integration of artificial intelligence and sustainable technologies can support energy efficiency and systemic improvements in the energy sector, there are several risks that were not previously identified in the literature. Critical areas of future development for academic research as well as opportunities for professional practice are presented.
Abstract
In a research study among university students regarding technological change, equality and environmental sustainability, deep-seated dichotomies were found in the students' mental images of the future. This study aims to present these dichotomies as well as propose explanations for them, adding to our understanding of what kind of behavioural barriers inhibit sustainability transformations. The results show that the interviewees truly struggle to decide if the world really is on fire regarding environmental change, if technology is capable of solving the situation, if inequality is truly a problem, and how they can relate to all this. The dichotomies that we found suggest that on the one hand, they find no comfort in the dominant techno-optimistic, eco-modernisation narratives and, on the other hand, they are not aware of any alternatives. The results underline the existence of psychological phenomena such as optimism bias or psychological distancing. In our paper, we also address whether dichotomous thinking poses a problem or whether we may have to accept that dichotomies can become the norm when contemplating the world in its increasing complexity.
Abstract
This study empirically examines knowledge spillover in Visegrad Four (V4) countries, with an emphasis on global value chains (GVCs). Using patent statistics, the study aims to estimate the knowledge production function, including domestic and foreign knowledge stocks, and found that international knowledge spillover does not contribute much to the innovation of the local economy in the V4 countries because of three factors: i) multinational corporations' (MNCs) strategy to locate a low-cost production base, ii) MNCs' strategy to locate supporting (process, production or non-core product related) research and development (R&D) activities and iii) limited technology spillover effect from MNCs to local firms. Local firms in the V4 countries became dependent on the peripheral products and technologies provided by MNCs, and as a result, local R&D activities in the V4 countries were diverted from patentable innovation.
