Issues

Journal & Issues

Volume 19 (2022): Issue 1 (June 2022)

Volume 18 (2021): Issue 2 (December 2021)

Volume 18 (2021): Issue 1 (June 2021)

Volume 17 (2020): Issue 2 (December 2020)

Volume 17 (2020): Issue 1 (June 2020)

Volume 16 (2019): Issue 2 (December 2019)

Volume 16 (2019): Issue 1 (June 2019)

Volume 15 (2018): Issue 2 (December 2018)

Volume 15 (2018): Issue 1 (June 2018)

Volume 14 (2017): Issue 2 (December 2017)

Volume 14 (2017): Issue 1 (June 2017)

Volume 13 (2016): Issue 2 (December 2016)

Volume 13 (2016): Issue 1 (June 2016)

Journal Details
Format
Journal
eISSN
2256-0173
First Published
16 Jun 2016
Publication timeframe
2 times per year
Languages
English

Search

Volume 18 (2021): Issue 1 (June 2021)

Journal Details
Format
Journal
eISSN
2256-0173
First Published
16 Jun 2016
Publication timeframe
2 times per year
Languages
English

Search

9 Articles
Open Access

Creative Communication Tools in Vilnius Architectural Heritage Communication

Published Online: 17 Jun 2021
Page range: 5 - 14

Abstract

Abstract

Research purpose. The purpose of this study is to single out the tools of creative communication and to identify which of them are most used in the communication of architectural heritage in Vilnius.

Design / Methodology / Approach. Comparative analysis of scientific literature, qualitative expert interviews.

Findings. The communication of the architectural heritage is multifaceted because the heritage is multifunctional. Heritage communication operates through various channels and is focused on different target groups; however, in order for the communication to be effective, as expected, the coherence of communication is required, as well as a comprehensive approach to all aspects of communication. Structured communication is essential for the best communication impact.

Originality / Value / Practical implications. Heritage communication is an actively developing field that is receiving increasing attention from scientists and the public. Much attention is paid to heritage during various cultural events, during which the public has the opportunity to get acquainted with the usually inaccessible heritage or its premises. In this way, the revitalisation of heritage involves urban residents, communities, interested groups who, for cultural, religious or other reasons, are concerned with heritage preservation. Although much attention is paid to heritage communication and sponsors are being attracted, there are fears that the communication of architectural heritage is not sufficient due to the lack of funding for architectural heritage. The consequence of the lack of funding is the disappearance of architectural objects. Thus, the analysis of architectural heritage communication is a relevant and researched topic.

Keywords

  • Culture
  • Heritage
  • Technology
  • Creativity

JEL Classification

  • L83
Open Access

Financial Inclusion and Labour Market Participation of Women in Selected Countries in Africa

Published Online: 17 Jun 2021
Page range: 15 - 31

Abstract

Abstract

Research purpose: This study investigates the impact of financial inclusion on female labour force participation in Africa. It also complements the existing studies by evaluating how advancement in information and communication technology (ICT) and Trade openness (TO) modulate the relationship between financial inclusion and female economic participation in selected African countries.

Design/methodology/approach: The study focuses on twelve African countries while the empirical evidence is based on Fixed Effects, Random Effects and Generalised Least Square estimators (GLS). Data over the period of 2005-2016 are sourced from the World Bank Development database and IMF international Financial Statistics.

Findings: The results show that financial inclusion has a non-monotonic relationship with female labour force participation. The study establishes that if the level of financial inclusion can be increased to the range of 33-57 per cent, it would improve the level of women participation in economic activities. The results further show that ICT moderates the nexus between financial inclusion and female economic participation at a threshold level of 38.17 per cent. These findings persist when the TO is used as the moderating factor at a threshold value of 80.90 per cent. The results are robust enough to suggest an alternative proxy for female labour force participation and alternative estimation techniques.

Originality/value/practical implications: Ending gender inequality has become one of the priorities in the global development policies in which most African nations domesticate the same for their national planning. There are voices at every corner in Africa demanding the possibility of achieving gender equality in employment, among others. This article is one of the few articles that evaluate whether financial inclusion can be used to accelerate female economic participation in Africa.

Keywords

  • Financial inclusion
  • Female empowerment
  • Africa

JEL Classification

  • E02
  • G20
Open Access

Gender Impact on Personal Investment Strategies

Published Online: 17 Jun 2021
Page range: 32 - 45

Abstract

Abstract

Research purpose. This study is dedicated to investigating the peculiarities of personal investment decisions among female and male investors to analyse the gender differences that occur during personal investment strategy establishment processes. This study is based on the literature research and aims at exploring the existing knowledge on financial behaviour and gender influence on personal investment selection. The importance and originality of this study are that it assesses the collective evidence in the personal investment field and explores its processes through the prism of gender impact. The understanding of the gender bias impact on the personal investment strategy development process can play an important role in addressing the issue of gender inequality in finance and investment areas. This paper is dedicated to answering the question of how gender impacts personal investment strategies.

Design/ Methodology/ Approach. The major task was to conduct the research on the male and female personal investment decision peculiarities presented in literature sources and to prepare the survey to conduct practical research while applying theoretical knowledge and presenting the findings along with the suggestions on how to improve the female situation in investment field.

Findings. The most prominent finding to emerge from this study is that females lack knowledge and understanding in finance and especially investment areas; therefore, this leads to inadequacy in self-confidence in finance and investment matters and, as a result, neglect of successful personal finance management and, more significantly, poor investment strategy decisions.

Originality/ Value/ Practical implications. The main goal of the current study was to determine whether the gender difference exists in personal finance and especially investment area, to refine the reasons behind this phenomenon, to analyse what could be done to improve the situation and introduce suggestions for further research. The research was done based on relevant literature, reports, surveys, statistical data used for literature analysis, and Lithuania’s case study for the practical part of the research. The primary objectives were to find out what are the main peculiarities between males and females when it comes to personal investment strategy choices and to analyse financial literacy and investment fields through the female perspective. The main points revealed during this study were that men tend to invest more often than women, as females, in general, prefer to save rather than invest; women tend to choose less risky investment strategies compared to men or save rather than invest. The main factors of this phenomena are the influence of cultural, social, or psychological factors, low financial literacy level, differences in economic status, longer life expectancy, the lack of confidence when it comes to knowledge applied to the financial decisions; males are more likely to choose a higher-risk investment strategy and to be more confident in their investment ability even if they have less knowledge on the matter. The analysis of Lithuania’s case has also confirmed the main literature review findings and reported females to lack financial and investment knowledge, spare funds and prefer to save rather than invest or invest into the low-risk tools.

Keywords

  • Investment strategy
  • Personal investment strategy
  • Investment decision
  • Investment risk
  • Gender difference
  • Female investing

JEL Classification

  • G23
  • G53
Open Access

Importance of Stakeholders within University Social Responsibility

Published Online: 17 Jun 2021
Page range: 46 - 58

Abstract

Abstract

Research purpose. The paper follows a definition of University Social Responsibility (USR) recently formulated by Kouatli in 2019. In accordance with the definition, the main objective of this study is to identify and establish the importance of individual stakeholders to the university. The article also includes several case studies demonstrating the possibilities of cooperation between university management and other stakeholders to address the social aspects of sustainable development primarily.

Design / Methodology / Approach. The focus group method was used to identify all stakeholders. For individual focus groups, respondents rated their importance for universities on a scale from 1 to 7. Subsequently, different stakeholders were divided into relevant groups by factor analysis. The obtained outputs were used for the identification of important university stakeholders in the field of education and science.

Findings. The university’s most important stakeholders in education were found to include applicants for study and their parents, student, and academic staff, and last but not least, foreign students. In the field of science and research, the university’s main stakeholders are academics, enterprises, and the professional public. Emphasis is placed on how the university can cooperate with its stakeholders in CSR activities.

Originality / Value / Practical implications. The value of the proposed stakeholder framework can be seen in the identification of important stakeholders for universities. The paper also includes case studies related to the cooperation with the Czech university to fulfil its USR objectives.

Keywords

  • Stakeholders
  • University social responsibility
  • Covid-19
  • Best practices
  • Framework

JEL Classification

  • M14
Open Access

Evaluation of Influencing Factors on Great Britain‘S Export Values

Published Online: 17 Jun 2021
Page range: 59 - 69

Abstract

Abstract

Research purpose. The research aimed at identifying the main factors influencing export values in the region of Great Britain (GB) for the period of the last 30 years.

Design / Methodology / Approach. In order to implement the investigation, the following tasks were intended: (1) To analyse scientific literature and mark out at least five non - dependent variables that impact export values of Great Britain. (2) Basing on findings, outlined in a scientific review, suggest or choose the methodology that is the most appropriate for this kind of tasks’ determination. (3) Collect the data for dependent and non-dependent variables (at least 30 samples). (4) Based on the presented methodology, determine the selected factors’ impact and make the statistical and economic analysis. The research was mainly done using quantitative analysis methods (descriptive, correlation, regressive analysis). Quantitative modelling and descriptive statistics methods are selected for investigation because they can suggest a different approach to analysing the factors influencing export values.

Findings. Five non-dependent variables were marked out as factors influencing the export values in the selected region: gross domestic product (GDP); the number of employees in the region; amounts of cargo transportation; average salary in the region and labour costs. Calculation of the correlation coefficients showed that all independent variables were statistically significant. There is a very strong relationship between export values and GDP, employment, and labour costs.

Originality / Value / Practical implications. The findings of this research can be applied in order to evaluate and determine the economic impact of the GB processes on the entire world, as Britain’s export values are among the top ten in the world. It is important to emphasise that the deeper analysis of the influencing factors of the volume of export in Great Britain showed an interrelation of these factors. So further investigation of this factor’s impact is essential.

Keywords

  • Impact analysis
  • GB export values
  • Quantitative analysis
  • Influencing factors

JEL Classification

  • E01
  • D20
Open Access

Market Structure analysis with Herfindahl-Hirchman Index and Lauraéus-Kaivo-Oja Indices in the Global Cobotics Markets

Published Online: 17 Jun 2021
Page range: 70 - 81

Abstract

Abstract

Research purpose. The study is focused on the expected market dynamics of global cobotics markets. This study investigates the current market structure of the global cobotics market. The scientific aim of the research is to report the first data-based market structure analysis of the global cobotics market with the HHI index and with the LKI index analysis. With analysis we are able to show the diversification rate of the global cobotics market.

Design / Methodology / Approach. The methodology is based on conventional statistical index theory and statistics. The methodology is the calculation of the Herfindahl-Hirchman Index and the Lauraéus-Kaivo-oja Index. The authors compare the results of these two methodologies.

Findings. The Herfindahl-Hirschman Index (HHI) and the Lauraéus-Kaivo-oja Index are statistical measures of market concentration, and they can be used to determine market competitiveness. This paper demonstrates novel data analytics possibilities of new market data collected by the Statzon, Ltd with various comparative analytical results and findings. By our analyses we can help multiple industrial stakeholders make faster decisions and better strategic plans with the easiest and fastest access to accurate, reliable, and up-to-date cobotics industry statistics, forecasts, and insights. The finding is that this study reveals the current market structure of global cobotics. It is a novel finding and result.

Originality / Value / Practical implications. This paper demonstrates the novel and exciting possibilities of transparent index calculation tools. The authors provide original results. Authors underline that extra value added to stakeholders and customers will be provided by joint data pooling strategy of various data sources, which is a key approach of this paper. Real-time market structure analyses create reliable and knowledge-based information for decision-makers and stakeholders of the global cobotics industry.

Keywords

  • Market trends
  • Market structure of global cobotics market
  • Herfindahl-Hirschman Index (HHI)
  • Lauraéus-Kaivo-oja Index (LKI)
  • Market data analytics

JEL Classification

  • C13
  • C53
  • C63
  • D52
  • G28
Open Access

European COVID -19 Pandemic Data and Social Inclusion Policy in the European Union: Drivers-Driven Trend Analysis

Published Online: 17 Jun 2021
Page range: 82 - 99

Abstract

Abstract

Research purpose. The study is focused on the Covid-19 pandemic crisis in the European Union. This study investigates the current driving trends and trade-offs of the Covid-19 pandemic phenomenon and social inclusion trends in the European countries.

Design / Methodology / Approach. The methodology is based on conventional statistical index theory and statistics. The study investigates cases, deaths, and key Covid-19 statistics. The research design combines key social inclusion statistics of the Eurostat and the official Covid-19 statistics of the European Centre for Disease Prevention and Control. Covid-19 data is updated to 1.3.2021. Social inclusion variables are selected from the Eurostat database. Social inclusion variables cover poverty, material deprivation, income distribution, income, quality of life, employment, and education matters. Scattering matrices on the relationships among the key variables under review are reported.

Findings. The study reports basic trends of Covid-19 cases, deaths, deaths/cases and calculates these Covid-19 trends in 29 European countries. This study reports trade-off analyses of key social inclusion trends of the European Union countries. Key indicators are linked to economic income, income distribution, poverty, gender issues, and housing statistics. The 19 key indicators of social inclusion are analysed and reported with Covid-19 data. Statistical correlation analysis tables (2a and 2b) are calculated with key European social inclusion indicators. The study reveals some relevant aspects of the social inclusion policy of the European Union about the ongoing Covid-19 crisis and exit strategies.

Originality / Value / Practical implications. This conference paper demonstrates novel and exciting possibilities of integrated data pooling (The Eurostat and the European Centre for Disease Prevention and Control). Original results of key trend drivers are provided by the authors. Value-adding and interesting results are delivered for European governments and the business community. Results and findings of the study can be used in the planning of economic recovery and Covid-19 exit policies in the member states of the European Union.

Keywords

  • Covid-19
  • Pandemic data analytics
  • Social inclusion
  • European Union
  • Trend analysis
  • Trend drivers
  • Trade-offs analysis

JEL Classification

  • H10
  • I32
  • I38
  • J10
  • N14
Open Access

Identification of Lithuanian International Trade Risk in Beverages

Published Online: 17 Jun 2021
Page range: 100 - 112

Abstract

Abstract

Research purpose. The article aims to identify the risk groups arising in foreign trade in the four main groups of processed beverages at a national level.

Design / Methodology / Approach. Processed agricultural drinks do not fall into the category of essential food. The article examines four main drink groups: waters (including mineral waters and aerated waters, with additive), beer, wine, and other alcoholic (e.g., spirits, liqueurs, whiskies, rums, gins, vodkas, etc.) beverages. The case of Lithuania is presented. Analysis and assumption of scientific literature and TOPSIS method are used. The study does not aim to assess all risk factors but to identify the groups of risk factors and to rank them according to their importance for each processed beverage sectors supply chains.

Findings. Based on the scientific literature analysis, the eight risk groups were identified and were evaluated according to their importance for the beverages supply chain. Experts ranked risk groups taking into account their importance for international processed beverages trade for each product group. The results show that the most important is the Demand risks group for all processed beverages, and the least important is Political risk. The significance of other risk groups for a particular beverage supply chains differs. Supply risks were second in the ‘water with add’ group, while in the ‘other alcohol’ group, it is in fourth place. For the ‘other alcohol’ group, supply risks are less significant. Production risks are one of the most important in the wine trade. Financial risks are one of the most important in the ‘other alcohol’ group. Management and operational risks play an essential role in the beer supply chains. The least significant is three risk groups: Logistical and infrastructural risks, Policy and regulatory risks, Political risks.

Originality / Value / Practical implications. The identified risks groups in the four main groups of processed beverages can help shape the country’s trade policy, mitigate trade risks, and effectively manage the agricultural trade beverage subsector. Research results can be practically used both for government or business decisions and for the public sector (trade associations).

Keywords

  • International trade
  • Beverages trade
  • Foreign trade risk
  • Risk identification
  • TOPSIS

JEL Classification

  • F1
  • F13
  • L66
  • N5
  • D81
Open Access

A New Sustainability Model – A Four Essential Quadrants Framework

Published Online: 17 Jun 2021
Page range: 113 - 124

Abstract

Abstract

Research purpose. This paper will present contemporary ideas on how, when, and where the four quadrants are vital to the sustainability of an organization and central to the future of the entity. There have long been suppositions and actual operational level models featuring three primary rudiments. Much of the prior research and modeling has centered on Economic, Social, and Environmental as the basis for sustainability within business models. This particular research brought new perspectives and addressed some deficiencies in the existing sustainability models.

Design / Methodology / Approach. A qualitative methodology aligned with an axiological philosophical assumption is evidenced throughout the explanatory review, and new open-ended interviews focused on values while discussing the nuances of sustainability. The methodology applied is a review of relevant literature on sustainability, critical thinking, CSR, and financial acumen that was utilized to augment the interviews.

Findings. This new and distinct perspective develops and puts forth four quadrants that are corollary to these three core elements. However, this version purports a more comprehensive and holistic framing with a focus on Financial Acumen, Critical Thinking, Creativity & Innovation, and Corporate Social Responsibility (CSR). Each of these “new model” fundamentals provides a broader application for sustainability within a business strategy as companies look to distinguish themselves in the markets served. There is no doubt that executives are faced with a myriad of complex and, in some sense, extraordinary demands on the business.

Originality / Value / Practical implications. This sustainability model captures four imperatives for sustaining and improving business performance and, in the end, a sophisticated and authentic approach providing engagement by and with all stakeholders. Financial acumen must be comprehensive and create value; Critical Thinking must be pervasive throughout the organization; Creativity & Innovation must drive systematic improvements throughout, and Corporate Social Responsibility should be a core business strategy for both employee engagement and creating external social influences. Though this last supposition can be argued such as Friedman put forth, there remains the awareness and recognition of the importance of CSR in a business model. This particular research will broaden the view of those involved with sustainability to now include critical thinking, creativity, and innovation.

Keywords

  • Sustainability
  • Social responsibility
  • Critical thinking
  • Financial acumen
  • Innovation

JEL Classification

  • M1
  • O4
9 Articles
Open Access

Creative Communication Tools in Vilnius Architectural Heritage Communication

Published Online: 17 Jun 2021
Page range: 5 - 14

Abstract

Abstract

Research purpose. The purpose of this study is to single out the tools of creative communication and to identify which of them are most used in the communication of architectural heritage in Vilnius.

Design / Methodology / Approach. Comparative analysis of scientific literature, qualitative expert interviews.

Findings. The communication of the architectural heritage is multifaceted because the heritage is multifunctional. Heritage communication operates through various channels and is focused on different target groups; however, in order for the communication to be effective, as expected, the coherence of communication is required, as well as a comprehensive approach to all aspects of communication. Structured communication is essential for the best communication impact.

Originality / Value / Practical implications. Heritage communication is an actively developing field that is receiving increasing attention from scientists and the public. Much attention is paid to heritage during various cultural events, during which the public has the opportunity to get acquainted with the usually inaccessible heritage or its premises. In this way, the revitalisation of heritage involves urban residents, communities, interested groups who, for cultural, religious or other reasons, are concerned with heritage preservation. Although much attention is paid to heritage communication and sponsors are being attracted, there are fears that the communication of architectural heritage is not sufficient due to the lack of funding for architectural heritage. The consequence of the lack of funding is the disappearance of architectural objects. Thus, the analysis of architectural heritage communication is a relevant and researched topic.

Keywords

  • Culture
  • Heritage
  • Technology
  • Creativity

JEL Classification

  • L83
Open Access

Financial Inclusion and Labour Market Participation of Women in Selected Countries in Africa

Published Online: 17 Jun 2021
Page range: 15 - 31

Abstract

Abstract

Research purpose: This study investigates the impact of financial inclusion on female labour force participation in Africa. It also complements the existing studies by evaluating how advancement in information and communication technology (ICT) and Trade openness (TO) modulate the relationship between financial inclusion and female economic participation in selected African countries.

Design/methodology/approach: The study focuses on twelve African countries while the empirical evidence is based on Fixed Effects, Random Effects and Generalised Least Square estimators (GLS). Data over the period of 2005-2016 are sourced from the World Bank Development database and IMF international Financial Statistics.

Findings: The results show that financial inclusion has a non-monotonic relationship with female labour force participation. The study establishes that if the level of financial inclusion can be increased to the range of 33-57 per cent, it would improve the level of women participation in economic activities. The results further show that ICT moderates the nexus between financial inclusion and female economic participation at a threshold level of 38.17 per cent. These findings persist when the TO is used as the moderating factor at a threshold value of 80.90 per cent. The results are robust enough to suggest an alternative proxy for female labour force participation and alternative estimation techniques.

Originality/value/practical implications: Ending gender inequality has become one of the priorities in the global development policies in which most African nations domesticate the same for their national planning. There are voices at every corner in Africa demanding the possibility of achieving gender equality in employment, among others. This article is one of the few articles that evaluate whether financial inclusion can be used to accelerate female economic participation in Africa.

Keywords

  • Financial inclusion
  • Female empowerment
  • Africa

JEL Classification

  • E02
  • G20
Open Access

Gender Impact on Personal Investment Strategies

Published Online: 17 Jun 2021
Page range: 32 - 45

Abstract

Abstract

Research purpose. This study is dedicated to investigating the peculiarities of personal investment decisions among female and male investors to analyse the gender differences that occur during personal investment strategy establishment processes. This study is based on the literature research and aims at exploring the existing knowledge on financial behaviour and gender influence on personal investment selection. The importance and originality of this study are that it assesses the collective evidence in the personal investment field and explores its processes through the prism of gender impact. The understanding of the gender bias impact on the personal investment strategy development process can play an important role in addressing the issue of gender inequality in finance and investment areas. This paper is dedicated to answering the question of how gender impacts personal investment strategies.

Design/ Methodology/ Approach. The major task was to conduct the research on the male and female personal investment decision peculiarities presented in literature sources and to prepare the survey to conduct practical research while applying theoretical knowledge and presenting the findings along with the suggestions on how to improve the female situation in investment field.

Findings. The most prominent finding to emerge from this study is that females lack knowledge and understanding in finance and especially investment areas; therefore, this leads to inadequacy in self-confidence in finance and investment matters and, as a result, neglect of successful personal finance management and, more significantly, poor investment strategy decisions.

Originality/ Value/ Practical implications. The main goal of the current study was to determine whether the gender difference exists in personal finance and especially investment area, to refine the reasons behind this phenomenon, to analyse what could be done to improve the situation and introduce suggestions for further research. The research was done based on relevant literature, reports, surveys, statistical data used for literature analysis, and Lithuania’s case study for the practical part of the research. The primary objectives were to find out what are the main peculiarities between males and females when it comes to personal investment strategy choices and to analyse financial literacy and investment fields through the female perspective. The main points revealed during this study were that men tend to invest more often than women, as females, in general, prefer to save rather than invest; women tend to choose less risky investment strategies compared to men or save rather than invest. The main factors of this phenomena are the influence of cultural, social, or psychological factors, low financial literacy level, differences in economic status, longer life expectancy, the lack of confidence when it comes to knowledge applied to the financial decisions; males are more likely to choose a higher-risk investment strategy and to be more confident in their investment ability even if they have less knowledge on the matter. The analysis of Lithuania’s case has also confirmed the main literature review findings and reported females to lack financial and investment knowledge, spare funds and prefer to save rather than invest or invest into the low-risk tools.

Keywords

  • Investment strategy
  • Personal investment strategy
  • Investment decision
  • Investment risk
  • Gender difference
  • Female investing

JEL Classification

  • G23
  • G53
Open Access

Importance of Stakeholders within University Social Responsibility

Published Online: 17 Jun 2021
Page range: 46 - 58

Abstract

Abstract

Research purpose. The paper follows a definition of University Social Responsibility (USR) recently formulated by Kouatli in 2019. In accordance with the definition, the main objective of this study is to identify and establish the importance of individual stakeholders to the university. The article also includes several case studies demonstrating the possibilities of cooperation between university management and other stakeholders to address the social aspects of sustainable development primarily.

Design / Methodology / Approach. The focus group method was used to identify all stakeholders. For individual focus groups, respondents rated their importance for universities on a scale from 1 to 7. Subsequently, different stakeholders were divided into relevant groups by factor analysis. The obtained outputs were used for the identification of important university stakeholders in the field of education and science.

Findings. The university’s most important stakeholders in education were found to include applicants for study and their parents, student, and academic staff, and last but not least, foreign students. In the field of science and research, the university’s main stakeholders are academics, enterprises, and the professional public. Emphasis is placed on how the university can cooperate with its stakeholders in CSR activities.

Originality / Value / Practical implications. The value of the proposed stakeholder framework can be seen in the identification of important stakeholders for universities. The paper also includes case studies related to the cooperation with the Czech university to fulfil its USR objectives.

Keywords

  • Stakeholders
  • University social responsibility
  • Covid-19
  • Best practices
  • Framework

JEL Classification

  • M14
Open Access

Evaluation of Influencing Factors on Great Britain‘S Export Values

Published Online: 17 Jun 2021
Page range: 59 - 69

Abstract

Abstract

Research purpose. The research aimed at identifying the main factors influencing export values in the region of Great Britain (GB) for the period of the last 30 years.

Design / Methodology / Approach. In order to implement the investigation, the following tasks were intended: (1) To analyse scientific literature and mark out at least five non - dependent variables that impact export values of Great Britain. (2) Basing on findings, outlined in a scientific review, suggest or choose the methodology that is the most appropriate for this kind of tasks’ determination. (3) Collect the data for dependent and non-dependent variables (at least 30 samples). (4) Based on the presented methodology, determine the selected factors’ impact and make the statistical and economic analysis. The research was mainly done using quantitative analysis methods (descriptive, correlation, regressive analysis). Quantitative modelling and descriptive statistics methods are selected for investigation because they can suggest a different approach to analysing the factors influencing export values.

Findings. Five non-dependent variables were marked out as factors influencing the export values in the selected region: gross domestic product (GDP); the number of employees in the region; amounts of cargo transportation; average salary in the region and labour costs. Calculation of the correlation coefficients showed that all independent variables were statistically significant. There is a very strong relationship between export values and GDP, employment, and labour costs.

Originality / Value / Practical implications. The findings of this research can be applied in order to evaluate and determine the economic impact of the GB processes on the entire world, as Britain’s export values are among the top ten in the world. It is important to emphasise that the deeper analysis of the influencing factors of the volume of export in Great Britain showed an interrelation of these factors. So further investigation of this factor’s impact is essential.

Keywords

  • Impact analysis
  • GB export values
  • Quantitative analysis
  • Influencing factors

JEL Classification

  • E01
  • D20
Open Access

Market Structure analysis with Herfindahl-Hirchman Index and Lauraéus-Kaivo-Oja Indices in the Global Cobotics Markets

Published Online: 17 Jun 2021
Page range: 70 - 81

Abstract

Abstract

Research purpose. The study is focused on the expected market dynamics of global cobotics markets. This study investigates the current market structure of the global cobotics market. The scientific aim of the research is to report the first data-based market structure analysis of the global cobotics market with the HHI index and with the LKI index analysis. With analysis we are able to show the diversification rate of the global cobotics market.

Design / Methodology / Approach. The methodology is based on conventional statistical index theory and statistics. The methodology is the calculation of the Herfindahl-Hirchman Index and the Lauraéus-Kaivo-oja Index. The authors compare the results of these two methodologies.

Findings. The Herfindahl-Hirschman Index (HHI) and the Lauraéus-Kaivo-oja Index are statistical measures of market concentration, and they can be used to determine market competitiveness. This paper demonstrates novel data analytics possibilities of new market data collected by the Statzon, Ltd with various comparative analytical results and findings. By our analyses we can help multiple industrial stakeholders make faster decisions and better strategic plans with the easiest and fastest access to accurate, reliable, and up-to-date cobotics industry statistics, forecasts, and insights. The finding is that this study reveals the current market structure of global cobotics. It is a novel finding and result.

Originality / Value / Practical implications. This paper demonstrates the novel and exciting possibilities of transparent index calculation tools. The authors provide original results. Authors underline that extra value added to stakeholders and customers will be provided by joint data pooling strategy of various data sources, which is a key approach of this paper. Real-time market structure analyses create reliable and knowledge-based information for decision-makers and stakeholders of the global cobotics industry.

Keywords

  • Market trends
  • Market structure of global cobotics market
  • Herfindahl-Hirschman Index (HHI)
  • Lauraéus-Kaivo-oja Index (LKI)
  • Market data analytics

JEL Classification

  • C13
  • C53
  • C63
  • D52
  • G28
Open Access

European COVID -19 Pandemic Data and Social Inclusion Policy in the European Union: Drivers-Driven Trend Analysis

Published Online: 17 Jun 2021
Page range: 82 - 99

Abstract

Abstract

Research purpose. The study is focused on the Covid-19 pandemic crisis in the European Union. This study investigates the current driving trends and trade-offs of the Covid-19 pandemic phenomenon and social inclusion trends in the European countries.

Design / Methodology / Approach. The methodology is based on conventional statistical index theory and statistics. The study investigates cases, deaths, and key Covid-19 statistics. The research design combines key social inclusion statistics of the Eurostat and the official Covid-19 statistics of the European Centre for Disease Prevention and Control. Covid-19 data is updated to 1.3.2021. Social inclusion variables are selected from the Eurostat database. Social inclusion variables cover poverty, material deprivation, income distribution, income, quality of life, employment, and education matters. Scattering matrices on the relationships among the key variables under review are reported.

Findings. The study reports basic trends of Covid-19 cases, deaths, deaths/cases and calculates these Covid-19 trends in 29 European countries. This study reports trade-off analyses of key social inclusion trends of the European Union countries. Key indicators are linked to economic income, income distribution, poverty, gender issues, and housing statistics. The 19 key indicators of social inclusion are analysed and reported with Covid-19 data. Statistical correlation analysis tables (2a and 2b) are calculated with key European social inclusion indicators. The study reveals some relevant aspects of the social inclusion policy of the European Union about the ongoing Covid-19 crisis and exit strategies.

Originality / Value / Practical implications. This conference paper demonstrates novel and exciting possibilities of integrated data pooling (The Eurostat and the European Centre for Disease Prevention and Control). Original results of key trend drivers are provided by the authors. Value-adding and interesting results are delivered for European governments and the business community. Results and findings of the study can be used in the planning of economic recovery and Covid-19 exit policies in the member states of the European Union.

Keywords

  • Covid-19
  • Pandemic data analytics
  • Social inclusion
  • European Union
  • Trend analysis
  • Trend drivers
  • Trade-offs analysis

JEL Classification

  • H10
  • I32
  • I38
  • J10
  • N14
Open Access

Identification of Lithuanian International Trade Risk in Beverages

Published Online: 17 Jun 2021
Page range: 100 - 112

Abstract

Abstract

Research purpose. The article aims to identify the risk groups arising in foreign trade in the four main groups of processed beverages at a national level.

Design / Methodology / Approach. Processed agricultural drinks do not fall into the category of essential food. The article examines four main drink groups: waters (including mineral waters and aerated waters, with additive), beer, wine, and other alcoholic (e.g., spirits, liqueurs, whiskies, rums, gins, vodkas, etc.) beverages. The case of Lithuania is presented. Analysis and assumption of scientific literature and TOPSIS method are used. The study does not aim to assess all risk factors but to identify the groups of risk factors and to rank them according to their importance for each processed beverage sectors supply chains.

Findings. Based on the scientific literature analysis, the eight risk groups were identified and were evaluated according to their importance for the beverages supply chain. Experts ranked risk groups taking into account their importance for international processed beverages trade for each product group. The results show that the most important is the Demand risks group for all processed beverages, and the least important is Political risk. The significance of other risk groups for a particular beverage supply chains differs. Supply risks were second in the ‘water with add’ group, while in the ‘other alcohol’ group, it is in fourth place. For the ‘other alcohol’ group, supply risks are less significant. Production risks are one of the most important in the wine trade. Financial risks are one of the most important in the ‘other alcohol’ group. Management and operational risks play an essential role in the beer supply chains. The least significant is three risk groups: Logistical and infrastructural risks, Policy and regulatory risks, Political risks.

Originality / Value / Practical implications. The identified risks groups in the four main groups of processed beverages can help shape the country’s trade policy, mitigate trade risks, and effectively manage the agricultural trade beverage subsector. Research results can be practically used both for government or business decisions and for the public sector (trade associations).

Keywords

  • International trade
  • Beverages trade
  • Foreign trade risk
  • Risk identification
  • TOPSIS

JEL Classification

  • F1
  • F13
  • L66
  • N5
  • D81
Open Access

A New Sustainability Model – A Four Essential Quadrants Framework

Published Online: 17 Jun 2021
Page range: 113 - 124

Abstract

Abstract

Research purpose. This paper will present contemporary ideas on how, when, and where the four quadrants are vital to the sustainability of an organization and central to the future of the entity. There have long been suppositions and actual operational level models featuring three primary rudiments. Much of the prior research and modeling has centered on Economic, Social, and Environmental as the basis for sustainability within business models. This particular research brought new perspectives and addressed some deficiencies in the existing sustainability models.

Design / Methodology / Approach. A qualitative methodology aligned with an axiological philosophical assumption is evidenced throughout the explanatory review, and new open-ended interviews focused on values while discussing the nuances of sustainability. The methodology applied is a review of relevant literature on sustainability, critical thinking, CSR, and financial acumen that was utilized to augment the interviews.

Findings. This new and distinct perspective develops and puts forth four quadrants that are corollary to these three core elements. However, this version purports a more comprehensive and holistic framing with a focus on Financial Acumen, Critical Thinking, Creativity & Innovation, and Corporate Social Responsibility (CSR). Each of these “new model” fundamentals provides a broader application for sustainability within a business strategy as companies look to distinguish themselves in the markets served. There is no doubt that executives are faced with a myriad of complex and, in some sense, extraordinary demands on the business.

Originality / Value / Practical implications. This sustainability model captures four imperatives for sustaining and improving business performance and, in the end, a sophisticated and authentic approach providing engagement by and with all stakeholders. Financial acumen must be comprehensive and create value; Critical Thinking must be pervasive throughout the organization; Creativity & Innovation must drive systematic improvements throughout, and Corporate Social Responsibility should be a core business strategy for both employee engagement and creating external social influences. Though this last supposition can be argued such as Friedman put forth, there remains the awareness and recognition of the importance of CSR in a business model. This particular research will broaden the view of those involved with sustainability to now include critical thinking, creativity, and innovation.

Keywords

  • Sustainability
  • Social responsibility
  • Critical thinking
  • Financial acumen
  • Innovation

JEL Classification

  • M1
  • O4

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