This work is licensed under the Creative Commons Attribution 4.0 International License.
Afshan, S., Leong, K., Y., Najmi, A., Razi, U., Lelchumanan, B., Cheong, C., W., H., (2024), Fintech advancements for financial resilience: Analysing exchange rates and digital currencies during oil and financial risk, Resources Policy, 88. https://doi.org/10.1016/j.resourpol.2023.104432.Search in Google Scholar
Andriani, D., P., Tseng, F-Sh., (2023), Pricing and investment decisions when facing heterogeneous customers under different supply chain power structures, Alexandria Engineering Journal, 78, 390-405. https://doi.org/10.1016/j.aej.2023.07.057.Search in Google Scholar
Ardanaz, M., Cavallo, E., Izquierdo, A., Puig, J., (2021), Growth-friendly fiscal rules? Safeguarding public investment from budget cuts through fiscal rule design, Journal of International Money and Finance, 111. https://doi.org/10.1016/j.jimonfin.2020.102319.Search in Google Scholar
Barrett, S., Chaitanya, R., S., K., (2023), Getting private investment in adaptation to work: Effective adaptation, value, and cash flows, Global Environmental Change, 83. https://doi.org/10.1016/j.gloenvcha.2023.102761.Search in Google Scholar
Bazrkar, A., Moradzad, M., Shayegan, S., (2024), The Use of Artificial Intelligence in Employee Recruitment in the Furniture Industry of Iran according to the Role of Contextual Factors, Studia Universitatis Vasile Goldiș Arad, Seria Științe Economice, 34(2), 86-109. Retrieved from https://publicatii.uvvg.ro/index.php/studiaeconomia/article/view/793.Search in Google Scholar
Bentler, P.M., (1990), Comparative Fit Indexes in Structural Models, Psychological Bulletin, 107, 238-246.Search in Google Scholar
Bentler, P. M., Bonett, D. G., (1980), Significance tests and goodness of fit in the analysis of covariance structures, Psychological Bulletin, 88(3), 588–606. https://doi.org/10.1037/0033-2909.88.3.588.Search in Google Scholar
Bhandari, A., Javakhadze, D., (2017), Corporate social responsibility and capital allocation efficiency, Journal of Corporate Finance, 43, 354-377. https://doi.org/10.1016/j.jcorpfin.2017.01.012.Search in Google Scholar
Biddle, G.C., Hilary, G., Verdi, R.S., (2009), How does financial reporting quality relate to investment efficiency?, Journal of Accounting and Economics, 48(2–3), 112-131. https://doi.org/10.1016/j.jacceco.2009.09.001.Search in Google Scholar
Blais, C., St-Pierre, J., Bergeron, H., (2023), Performance measurement in new product development projects: findings from successful small and medium enterprises, International Journal of Project Management, 41(2). https://doi.org/10.1016/j.ijproman.2023.102451.Search in Google Scholar
Bollen, K.L. (1989), Structural Equations with Latent Variables. New York: John Wiley.Search in Google Scholar
Browne, M.W., Cudeck, R., (1993), Alternative ways of assessing model fit. In K.A. Bollen and J.S. Long (Eds.), Testing structural equation models (pp. 136-162). Newbury Park, CA: Sage.Search in Google Scholar
Chen, S., Guo, Q., (2023), Fintech, strategic incentives and investment to human capital, and MSEs innovation, The North American Journal of Economics and Finance, 68. https://doi.org/10.1016/j.najef.2023.101963.Search in Google Scholar
Chen, S., Devereux, M., B., Shi, K., Xu, J., (2021), Exchange rates, local currency pricing and international tax policies, Journal of Monetary Economics, 117, 460-472. https://doi.org/10.1016/j.jmoneco.2020.02.005.Search in Google Scholar
Chen, W., Zhong, X., Lan, H., (2023), Innovation for survival: The scope of negative attainment discrepancy and enterprise R&D investment, Industrial Marketing Management, 108, 190-204. https://doi.org/10.1016/j.indmarman.2022.12.002.Search in Google Scholar
Cohen, J., Cohen, P., West, S.G., Aiken, L.S., (2003), Applied multiple regression/correlation analysis for the behavioral sciences (3rd ed.). Mahwah: NJ: Lawrence Erlbaum.Search in Google Scholar
Cronbach L.J., (2004), My current thoughts on coefficient alpha and successor procedures. Educational and Psychological Measurement, 64 (3), 391–418.Search in Google Scholar
Dammak, W., Boutouria, N., Hamad, S., B., de Peretti, Ch., (2023), Investor behavior in the currency option market during the COVID-19 pandemic, The Journal of Economic Asymmetries, 28. https://doi.org/10.1016/j.jeca.2023.e00337.Search in Google Scholar
Diamantopoulos, A., Siguaw, J.A., (2000), Introducing LISREL. London: Sage Publications. https://doi.org/10.4135/9781849209359.Search in Google Scholar
Du, J., Shi, Y., Li, W., Chen, Y., (2023), Can blockchain technology be effectively integrated into the real economy? Evidence from corporate investment efficiency, China Journal of Accounting Research, 16 (2). https://doi.org/10.1016/j.cjar.2023.100292.Search in Google Scholar
Du, Y., Kim, P., H., Fourné, S., P., L., Wang, X., (2022), In times of plenty: Slack resources, R&D investment, and entrepreneurial firms in challenging institutional environments, Journal of Business Research, 145, 360-376. https://doi.org/10.1016/j.jbusres.2022.03.004.Search in Google Scholar
Duan, W., Li, H., Sun, J., Yang, G., (2022), Standardization of the strategy translation process, procedural fairness in budgeting and firm performance, China Journal of Accounting Research, 15 (3). https://doi.org/10.1016/j.cjar.2022.100254.Search in Google Scholar
Eisenhauer, J.G., (2008), Degrees of Freedom, Teaching Statistics, 30, 75-78. https://doi.org/10.1111/j.1467-9639.2008.00324.xSearch in Google Scholar
Feng, Sh., Zhang, N., (2023), The impact of trade on the elasticity of labor demand— Nonlinear analysis based on the perspective of human capital, Economic Analysis and Policy, 79, 929-941.Search in Google Scholar
Gangi, F., Mustilli, M., Varrone, N., Graziano, D., (2023), Target firms’ characteristics and the effects of sovereign wealth funds’ investments: Does cultural context of SWFs matter?, Research in International Business and Finance, 65. https://doi.org/10.1016/j.ribaf.2023.101950.Search in Google Scholar
Gao, X., Qiu, M., Gong, S., Wang, Y., Zhang, Y., (2023), Information security investment for complementary and substitutable firms: The role of technology similarity, Expert Systems with Applications, 225. https://doi.org/10.1016/j.eswa.2023.120129.Search in Google Scholar
Gerged, A.M., Kuzey, C., Uyar, A., Karaman, A.S., (2023), Does investment stimulate or inhibit CSR transparency? The moderating role of CSR committee, board monitoring and CEO duality, Journal of Business Research, 159. https://doi.org/10.1016/j.jbusres.2023.113762.Search in Google Scholar
Goel, V., (2024), An Empirical Assessment of Microfinance and Its Associated Socioeconomic Development, Studia Universitatis Vasile Goldiș Arad, Seria Științe Economice, 34(2), 110-139. Retrieved from https://publicatii.uvvg.ro/index.php/studiaeconomia/article/view/794.Search in Google Scholar
Grübler, J., and Reiter, O., (2021), Characterising non-tariff trade policy, Economic Analysis and Policy, 71, 138-163. https://doi.org/10.1016/j.eap.2021.04.007.Search in Google Scholar
Haka, S.F., (2006), A Review of the Literature on Capital Budgeting and Investment Appraisal: Past, Present, and Future Musings, Handbooks of Management Accounting Research, 2, 697-728. https://doi.org/10.1016/S1751-3243(06)02010-4.Search in Google Scholar
Ho, K.-Ch., Yan, Ch., Mao, Zh., An, J., (2023), Corporate sustainability policies and corporate investment efficiency: Evidence from the quasi-natural experiment in China, Energy Economics, 127. https://doi.org/10.1016/j.eneco.2023.107050.Search in Google Scholar
Hooper, D., Coughlan, J., Mullen, M.R., (2008), Structural Equation Modelling: Guidelines for Determining Model Fit, The Electronic Journal of Business Research Methods, 6, 53-60. http://dx.doi.org/10.1037/0033-2909.107.2.238.Search in Google Scholar
Hu, Y., Bai, W., Farrukh, M., Koo, Ch.K., (2023), How does environmental policy uncertainty influence corporate green investments?, Technological Forecasting and Social Change, 189. https://doi.org/10.1016/j.techfore.2023.122330.Search in Google Scholar
Huo, P., Wang, L., (2022), Digital economy and business investment efficiency: Inhibiting or facilitating?, Research in International Business and Finance, 63. https://doi.org/10.1016/j.ribaf.2022.101797.Search in Google Scholar
Ilham, K. M., Vaqif, N. E., Calal, Z. E., (2023), The Examination of the Relationship Between Foreign Direct Investment and Trade in Turkey: ARDL Approach, Studia Universitatis Vasile Goldiș Arad, Seria Științe Economice, 33(4), 117-144. Retrieved from https://publicatii.uvvg.ro/index.php/studiaeconomia/article/view/770.Search in Google Scholar
Jauhari, W. A., Ramadhany, Sh. Ch. N., Rosyidi, C. N., Mishra, U., Hishamuddin, H., (2023), Pricing and green inventory decisions for a supply chain system with green investment and carbon tax regulation, Journal of Cleaner Production, 425. https://doi.org/10.1016/j.jclepro.2023.138897.Search in Google Scholar
Joreskog, K. G., (1969), A General Approach to Confirmatory Maximum Likelihood Factor Analysis, Psychometrika, 34, 183-202.Search in Google Scholar
Joreskog, K. G., Sorbom, D., (1996), LISREL8: User’s reference guide. Mooresville: Scientific Software.Search in Google Scholar
Jöreskog, K.G., (2004), On Chi-Squares for the independence model and fit measures in LISREL. Retrieved from http://www.ssicentral.com/lisrel/techdocs/ftb.pdf.Search in Google Scholar
Kaiser, H.F., (1974), An index of factorial simplicity, Psychometrika, 39, 31–36. http://dx.doi.org/10.1007/BF02291575.Search in Google Scholar
Kimouche, B., Charchafa, I., (2024), Impact of Accounting Conservatism on Income Smoothing: Empirical Evidence from Algeria, Studia Universitatis Vasile Goldiș Arad, Seria Științe Economice, 34(1), 37-55. Retrieved from https://publicatii.uvvg.ro/index.php/studiaeconomia/article/view/786.Search in Google Scholar
Kline, R. B., (2005), Principles and practice of structural equation modeling (2nd ed.). Guilford Press.Search in Google Scholar
Kou, G., Yüksel, S., Dinçer, H., (2023), A facial expression and expert recommendation fuzzy decision-making approach for sustainable business investments within the metaverse world, Applied Soft Computing, 148. https://doi.org/10.1016/j.asoc.2023.110849.Search in Google Scholar
Lai, F., Xiong, D., Zhu, Sha., Li, Zh., Tan, Y., (2023), Will geopolitical risks only inhibit corporate investment? Evidence from China, Pacific-Basin Finance Journal, 82. https://doi.org/10.1016/j.pacfin.2023.102134.Search in Google Scholar
Landesmann, M.A., Stöllinger, R., (2019), Structural change, trade and global production networks: An ‘appropriate industrial policy’ for peripheral and catching-up economies, Structural Change and Economic Dynamics, 48, 7-23. https://doi.org/10.1016/j.strueco.2018.04.001.Search in Google Scholar
Li, K., Xiang, Y., Zhou, Ch., Lin, R., (2023), Promote or inhibit: State-owned equity participation and family firms’ innovation investment, Journal of Innovation & Knowledge, 8 (2). https://doi.org/10.1016/j.jik.2023.100354.Search in Google Scholar
Lin, Y., Lu, Zh., Wang, Y., (2023), The impact of environmental, social, and governance (ESG) practices on investment efficiency in China: Does digital transformation matter?, Research in International Business and Finance, 66. https://doi.org/10.1016/j.ribaf.2023.102050.Search in Google Scholar
Lulaj, E., Dragusha, B., Hysa, E., (2023), Investigating Accounting Factors through Audited Financial Statements in Businesses toward a Circular Economy: Why a Sustainable Profit through Qualified Staff and Investment in Technology?, Administrative Sciences, 13(3), 72. https://doi.org/10.3390/admsci13030072.Search in Google Scholar
Lulaj, E., (2023), A sustainable business profit through customers and its impacts on three key business domains: technology, innovation, and service (TIS), Business, Management and Economics Engineering, 21(1), 19–47. https://doi.org/10.3846/bmee.2023.18618.Search in Google Scholar
Lulaj, E., (2024), Money Talks: A Holistic and Longitudinal View of the Budget Basket in the Face of Climate Change and Sustainable Finance Matters, Ekonomika, 103(1), 91–107. doi:10.15388/Ekon.2024.103.1.6.Search in Google Scholar
Lulaj, E., Gopalakrishnan, A., Kehinde Lamidi, K., (2024), Financing and Investing in Women-led Businesses: Understanding Strategic Profits and Entrepreneurial Expectations by Analysing the Factors that Determine Their Company Success, Periodica Polytechnica Social and Management Sciences. https://doi.org/10.3311/PPso.22532.Search in Google Scholar
MacCallum, R.C., Browne, M.W., Sugawara, H.,M., (1996), Power Analysis and Determination of Sample Size for Covariance Structure Modeling, Psychological Methods, 1 (2), 130-49.Search in Google Scholar
Marsh, H. W., Hocevar, D., (1985), Application of Confirmatory Factor Analysis to the Study of Self-Concept: First- and Higher-Order Factor Models and Their Invariance across Groups, Psychological Bulletin, 97, 562-582.Search in Google Scholar
McDonald, R. P., Marsh, H. W., (1990), Choosing a Multivariate Model: Noncentrality and Goodness of Fit, Psychological Bulletin, 107, 247-255.Search in Google Scholar
Mirza, N., Naeem, M., A., Nguyen, Th., Th., H., Arfaoui, N., Oliyide, J., A., (2023), Are sustainable investments interdependent? The international evidence, Economic Modelling, 119. https://doi.org/10.1016/j.econmod.2022.106120.Search in Google Scholar
Mulaik, S. A., James, L. R., Van Alstine, J., Bennett, N., Lind, S., Stilwell, C. D., (1989), Evaluation of goodness-of-fit indices for structural equation models, Psychological Bulletin, 105(3), 430–445. https://doi.org/10.1037/0033-2909.105.3.430.Search in Google Scholar
Mulaik, S.A., (2009), Factor Scores and Factor Indeterminacy, Foundations of Factor Analysis. 2nd Edition, Chapman and Hall/CRC, London, 369-404.Search in Google Scholar
Oderinwale, T., Papadaskalopoulos, D., Ye, Y., Strbac, G., (2020), Investigating the impact of flexible demand on market-based generation investment planning, International Journal of Electrical Power & Energy Systems, 119. https://doi.org/10.1016/j.ijepes.2020.105881.Search in Google Scholar
Ogunyomi-Oluyomi, O. O., George, E. O., Maku, O. E., Adelowokan, O. A., (2023), Domestic Investment and Economic Growth Nexus: Does Absorptive Capacity Matter in the African Countries?, Studia Universitatis Vasile Goldiș Arad, Seria Științe Economice, 33(4), 45-69. Retrieved from https://publicatii.uvvg.ro/index.php/studiaeconomia/article/view/768.Search in Google Scholar
Olanrewaju, O., I., Kineber, A., F., Chileshe, N., Edwards, D. J., (2022), Modelling the relationship between Building Information Modelling (BIM) implementation barriers, usage and awareness on building project lifecycle, Building and Environment, 207. https://doi.org/10.1016/j.buildenv.2021.108556.Search in Google Scholar
Pourramezan, A., Samadi, M., (2022), A novel approach for incorporating incentive-based and price-based demand response programs in long-term generation investment planning, International Journal of Electrical Power & Energy Systems, 142. https://doi.org/10.1016/j.ijepes.2022.108315.Search in Google Scholar
Prasad, P., Duker, A., de Fraiture, Ch., Zaag, P.V.D., (2023), Irrigation development under uncertainty: A call for adaptive investment pathways, Environmental Science & Policy, 140 (104-110). https://doi.org/10.1016/j.envsci.2022.11.017.Search in Google Scholar
Prorokowski, L., (2014), Economic performance, export, systemic barriers and equity investments in innovative companies: Evidence from Poland, Qualitative Research in Financial Markets, 6(1), 33-65. https://doi.org/10.1108/QRFM-12-2011-0031.Search in Google Scholar
Reddy, R.K., Park, S-J., Mooty, S., (2022), Emerging market firm investments in advanced markets: A country of origin perspective, Journal of Multinational Financial Management, 65. https://doi.org/10.1016/j.mulfin.2022.100748.Search in Google Scholar
Restrepo, N., Uribe, J.M., (2023), Cash flow investment, external funding and the energy transition: Evidence from large US energy firms, Energy Policy, 181. https://doi.org/10.1016/j.enpol.2023.113720.Search in Google Scholar
Scalamonti, F., (2024), The foreign investments-growth nexus in underdeveloped countries: the state-of-art of research analysing a selected and recent empirical literature (2020-2022), Technological Forecasting and Social Change, 198. https://doi.org/10.1016/j.techfore.2023.122933.Search in Google Scholar
Sha, Y., Ma, Q., Xu, Ch., Tan, X., Yan, J., and Zhang, Y., (2023), Research on the balance optimization of investment demand and investment capability of power grid enterprises, Energy Reports, 9, 943-950. https://doi.org/10.1016/j.egyr.2023.05.151.Search in Google Scholar
Sheng, J., Xu, S., An, Y., Yang, J., (2022), Dynamic asset pricing in delegated investment: An investigation from the perspective of heterogeneous beliefs of institutional and retail investors, Economic Modelling, 107. https://doi.org/10.1016/j.econmod.2021.105716.Search in Google Scholar
Shi, J., Liu, X., Li, Y., Yu, C., Han, Y., (2022), Does supply chain network centrality affect stock price crash risk? Evidence from Chinese listed manufacturing companies, International Review of Financial Analysis, 80. https://doi.org/10.1016/j.irfa.2022.102040.Search in Google Scholar
Song, M., (2023), Ownership property, it investment and firm performance, The Journal of High Technology Management Research, 34(2). https://doi.org/10.1016/j.hitech.2023.100481.Search in Google Scholar
Steiger, J.H., Lind, J.C., (1980), Statistically-Based Tests for the Number of Common Factors.Search in Google Scholar
Steiger, J.H., (1990), Structural Model Evaluation and Modification: An Interval Estimation Approach, Multivariate Behavioral Research, 25, 173-180.Search in Google Scholar
Sun, Y., Liu, S., Chen, S., (2023), Fund style drift and stock price crash risk – analysis of the mediating effect based on corporate financial risk, China Finance Review International, 13, 2, 183-206. https://doi.org/10.1108/CFRI-11-2021-0222.Search in Google Scholar
Tabachnick, B. G., Fidell, L.S., (2007), Using Multivariate Statistics (5th ed.). New York: Allyn and Bacon.Search in Google Scholar
Tamvada, J.P., Narula, S., Audretsch, D., Puppala, H., Kumar, A., (2022), Adopting new technology is a distant dream? The risks of implementing Industry 4.0 in emerging economy SMEs, Technological Forecasting and Social Change, 185. https://doi.org/10.1016/j.techfore.2022.122088.Search in Google Scholar
Teirlinck, P., Spithoven, A., (2013), Research collaboration and R&D outsourcing: Different R&D personnel requirements in SMEs, Technovation, 33(4–5), 142-153. https://doi.org/10.1016/j.technovation.2012.11.005.Search in Google Scholar
Wan, J., Lee, Ch-Ch., (2023), Corporate investment and the dilemma of the monetary policy: Evidence from China, Economic Analysis and Policy, 78, 106-121. https://doi.org/10.1016/j.eap.2023.03.002.Search in Google Scholar
Wang, H., (2023), Does the financial investment preference of renewable energy firms promote their advance towards sustainable development goals?, Renewable Energy, 218. https://doi.org/10.1016/j.renene.2023.119326.Search in Google Scholar
Wang, J., Zhu, Zh., Huang, X., (2023), Stock bubbles under sudden public crises: A perspective from the excessive financialization of firms, Finance Research Letters, 57. https://doi.org/10.1016/j.frl.2023.104189.Search in Google Scholar
Wang, Sh., Tian, W., Lu, B., (2023), Impact of capital investment and industrial structure optimization from the perspective of “resource curse”: Evidence from developing countries, Resources Policy, 80. https://doi.org/10.1016/j.resourpol.2022.103276.Search in Google Scholar
Wang, X., Zhu, L., (2023), How does export VAT rebates policy affect corporate investment efficiency? Evidence from corporate tax stickiness, Pacific-Basin Finance Journal, 82. https://doi.org/10.1016/j.pacfin.2023.102130.Search in Google Scholar
West, R. F., Meserve, R. J., Stanovich, K. E., (2012), Cognitive sophistication does not attenuate the bias blind spot, Journal of Personality and Social Psychology, 103(3), 506–519. https://doi.org/10.1037/a0028857.Search in Google Scholar
Wu, X., Guo, J., Song, Sh., (2023), Influence of international trade disputes on the world industrial economic system based on inoperability input-output model, International Review of Economics & Finance, 86, 787-803. https://doi.org/10.1016/j.iref.2023.03.033.Search in Google Scholar
Xiao, N., Zhou, J., Fang, X., (2023), Role of digital finance, investment, and trade in technological progress, Global Finance Journal, 57. https://doi.org/10.1016/j.gfj.2023.100853.Search in Google Scholar
Xuto, P., Bansal, P., Anderson, R., J., Graham, D., J., Hörcher, D., Barron, A., (2023), Examining the impacts of capital investment in London’s Underground: A long-term analysis, Transportation Research Part A: Policy and Practice, 175. https://doi.org/10.1016/j.tra.2023.103744.Search in Google Scholar
Zahid, R.M.A., Taran, A., Khan, M.K., Chersan, I-C., (2023), ESG, dividend payout policy and the moderating role of audit quality: Empirical evidence from Western Europe, Borsa Istanbul Review, 23 (2), pp.350-367. https://doi.org/10.1016/j.bir.2022.10.012.Search in Google Scholar
Zhang, Y., Johan, S., Hughes, M., Fu, K., Scholes, L., Liu, J., (2023), The effect of lead investor’s human capital on funding performance: the moderating role of investment ambition, Journal of International Financial Markets, Institutions and Money. https://doi.org/10.1016/j.intfin.2023.101891.Search in Google Scholar
Zhang, Zh., (2023), Competition, investment reversibility, and equity risk premium, Journal of Banking & Finance, 154. https://doi.org/10.1016/j.jbankfin.2023.106899.Search in Google Scholar
Zhao, L., Fang, H., (2023), Investment incentives and the relative demand for skilled labor: Evidence from accelerated depreciation policies in China, China Economic Review, 73. https://doi.org/10.1016/j.chieco.2022.101786.Search in Google Scholar
Zheng, T., Lin, Sh., Chen, M., (2023), Tax enforcement and investment efficiency–Based on the China’s “VAT reform”, Finance Research Letters, 58. https://doi.org/10.1016/j.frl.2023.104605.Search in Google Scholar
Zhou, Y., Yang, J., Jia, Z., (2023), Optimizing energy efficiency investments in steel firms: A real options model considering carbon trading and tax cuts during challenging economic conditions, Resources Policy, 85. https://doi.org/10.1016/j.resourpol.2023.104042.Search in Google Scholar
Zhu, J., Zhang, J., Feng, Y., (2022), Hard budget constraints and artificial intelligence technology, Technological Forecasting and Social Change, 183. https://doi.org/10.1016/j.techfore.2022.121889.Search in Google Scholar