<abstract>
<title style='display:none'>Abstract</title>
<bold>Research purpose.</bold> Currently, the Internet is used by almost 5 billion users worldwide, of which 80% actively use at least one of the social networks. And marketing managers are well aware of this fact, as they had to switch to a new way of attracting potential customers. One of these methods is also influencer marketing as a form of marketing communication. In influencer marketing, the emphasis is placed on influencers with a significant impact on the community on which marketing activities and campaigns can be oriented. It is a method of non-violent and natural promotion of a product or brand, which acts on the consumer as a natural part of the space in which it is located. Especially one generation of consumers, Generation Z, is considered to be the target segment for influencer marketing due to their digital skills and inclination to social networks. The main aim of the article is to determine the impact of influencer marketing on the decision-making process of Generation Z. This also includes providing the theoretical background and analysis of influencer marketing from the viewpoint of Slovak and foreign authors.
<bold>Design / Methodology / Approach.</bold> General scientific methods were applied for the processing of the data as well as mathematical-statistical methods to evaluate the data collated from the results of the questionnaire survey and to statistical hypothesis testing. The important source for secondary data was scientific research, annual company reports, statistical databases, and published professional publications. In order to find out the impact of influencer marketing on the decision-making process of Generation Z, a questionnaire survey was conducted.
<bold>Findings.</bold> A successful marketing campaign on social media in cooperation with influencers requires the correct selection of the influencer according to their follower base, profile focus, credibility or reach, which is measured by Engagement rate. The number of followers is not as significant as the relationship that the creator has with their fans. When choosing an influencer, it is also necessary to take into account the way they promote products, ask them for originality and creativity, and prefer long-term collaborations to one-time contributions. These steps can bring a lot of benefits to the company, from which it will subsequently profit. Based on the analysis and results of the questionnaire survey, it is thus clear that the implementation of influencer marketing in marketing communication of Slovak companies targeted at Generation Z brings many benefits, including building relationships with Generation Z, increasing their loyalty and improving the company image.
<bold>Originality / Value / Practical implications.</bold> Finally, measures for effective influencer marketing usage targeted at Generation Z are proposed, and its benefits are highlighted.
</abstract>

The Impact of Influencer Marketing on the Decision-Making Process of Generation Z

<abstract>
<title style='display:none'>Abstract</title>
<bold>Research purpose.</bold> The main objective of this work is to highlight the adoption of project management practices in companies’ digital transformation initiatives as a critical success factor. Thus, on the one hand, we will seek to systematize the importance of project management practices in the digital transformation of economic organizations and, on the other hand, analyze them based on a digital transformation project of one of the largest publishing groups in Portugal. Having previously studied the process of digital transformation of the warehouse through the adoption of a Warehouse Management System, it is now important to analyze to what extent the transformation process was successful and to what extent the management as a project contributed to the achievement of the intended objectives and generated economic value.
<bold>Design / Methodology / Approach.</bold> The first part of the study was carried out through surveys to managers for a general characterization; the second part through the adoption of the focus group technique for analysis and study in greater depth of a case study. In the first phase, the focus group adopts semi-structured interviews with the different managers of the group’s different companies and respective departments. In the second phase, a joint reflection on the organizational and economic value creation was developed based on the different existing perspectives of the digital transformation project. This reflection allowed a more objective analysis of the results obtained, the adequacy of management options, and the deviations.
<bold>Findings.</bold> Technologies analysis investment is a management principle, and the project management approach facilitates this practice. It is essential to carry out a careful project management approach and analyze the economic and financial viability of the investment. The disruptive changes associated with digital transformation make it difficult, and it is not easy to achieve the strategic objectives associated with these investments. So, the adoption of a project management approach seems to be critical for the success of the implementation of digital transformation initiatives. The current study highlights three critical aspects in the global assessment of IST investment: the importance of analyzing the objectives achieved; the importance of economic and financial analysis in determining the return on investment; and the relevance of the analysis being carried out by the stakeholders involved as a way of perceiving, individually and collectively, the diversity of the benefits achieved.
<bold>Originality / Value / Practical implications.</bold> The digital transformation of companies is a current reality and justifies a project approach to guarantee success in economic and organizational initiatives. However, it is important to analyze how management adopts the associated practices and whether it is aware of the importance of evaluating the intended results.
</abstract>

The Project Management Approach. A Critical Success Factor in Digital Transformation Initiatives

<abstract><title style='display:none'>Abstract</title><bold>Research purpose.</bold> Consumer is becoming demanded one in the purchasing process. Thus, consumer behaviour analyses thinking about his or her involvement in the purchase process could be a solution for marketers. This article concentrates on the consumer’s choice of food products in the purchase process because the author is interested to clarify the connection amongst choice, purchase and wasting of food. The research purpose is to evaluate the consumer’s consciousness in choosing food product in the purchase process.<bold>Design/Methodology/Approach.</bold> Quantitative method using questionnaire was applied to 643 respondents whilst implementing formulated aim. Cronbach’s alpha analyses of 35 items (0.870) showed reliability of the research.<bold>Findings.</bold> The research results indicated that consumer in the food purchase process is low conscious because he or she does not understand that he or she is buying more than what he or she needs and thus some of his or her purchase becomes waste. Consumer’s consciousness could be seen in the consumer’s lifestyle such as preferences for homemade food.<bold>Originality/Value/Practical implications.</bold> The research results could be used in practice and science. Food-producing companies might use some research results making their packaging solutions. The research results could give incites for scientists for future research.</abstract>

Consumer Involvement in the Purchasing Process: Consciousness of the Choice

<abstract><title style='display:none'>Abstract</title><bold>Research purpose.</bold> The pursuit of higher education has, until recently, been viewed as a worthwhile pursuit. However, factors including rising tuition costs, graduate job-readiness, and the associated debt have diminished the perceived value of college degrees at all levels. This research seeks to explore both academic literature and popular publication sources to gain a deeper understanding of the value proposition of higher education in the dynamic 21st century.<bold>Design/Methodology/Approach.</bold> An aggregative qualitative synthesis of the selected academic and popular sources is examined for emergent themes. Drawing on theory from the disciplines of economics, marketing, education and humanities, a meta-matrix is then constructed from the content analysis, with the goal to not only more effectively describe the variant perceptions of value but also to reconcile and synthesizes these views where possible.<bold>Findings.</bold> The perceived value of a contemporary higher education has been challenged, requiring post-secondary institutions to find new ways to demonstrate the benefits that accompany an advanced degree. Through a more explicit understanding of the dichotomies that exist between the various perceptions of value, as well as the emergence of thematic agreements, a more holistic depiction of higher education’s value proposition may be created.<bold>Originality/Value/Practical implications.</bold> The creation of a framework that allows post-secondary institutions to gain a more explicit understanding of the perceptions of value held both within and outside the academy will allow colleges and universities to respond more directly to this critical challenge and more accurately demonstrate both the short-term and life-long value of a college degree.</abstract>

A Question of Value: Exploring Perceptions of Higher Education Value in Academic and Popular Literature

<abstract><title style='display:none'>Abstract</title>Well-conducted recruitment and selection process is extremely important for the organization, permitting in-depth and objective verification of candidates in terms of meeting employer’s expectations and leads to their employment. Up to now, there has been little research on the impact of e-recruitment on the recruitment process as a whole. The present study fills part of this gap by investigating the effect of e-recruitment on the design of the recruitment process. Therefore, the main purpose of the paper is to analyze how new technology has influenced the recruitment process as a whole. The recruitment process will be presented on the example of ItutorGroup. The paper considers the possibilities of including modern technologies in the recruitment and selection strategies of the organization based on a case study method. The case study describes the project of cooperation of the Work Service personnel consultancy with the international organization ItutorGroup. Its selection and recruitment strategy was based on video-recruitment. The findings indicate that e-recruitment transforms the traditional recruitment process into a time- and space-independent, collaborative hiring process. The most significant changes are recorded in the sequence and increased divisibility of main recruitment tasks. For management, the main task is now that of communicating with candidates. Recruitment and selection strategy based on modern technologies requires an experienced and competent team, two unquestionable benefits are: limiting the length of the process in time and possibility to decrease the costs.</abstract>

New Technologies in the Recruitment Process

<abstract>
<title style='display:none'>Abstract</title>
<sec><title style='display:none'>Research Purpose</title>
This study investigates the dynamics of Artificial Intelligence (AI) in e-business, particularly from the perspective of consumers in North Macedonia. The research aims to identify and evaluate the benefits and challenges of AI integration in e-business, explore the ethical concerns related to AI decision-making, and understand the impact of AI on consumer behaviour and preferences.
</sec>
<sec><title style='display:none'>Design/Methodology/Approach</title>
The research adopts a mixed-methods approach, integrating qualitative and quantitative analyses. Primary data was collected via a structured questionnaire distributed among various demographic groups to gauge the level of awareness and experiences with AI in e-business. A range of statistical tests, including ANOVA and correlation tests, were employed to assess the significance of the data collected and to test a set of hypotheses concerning consumer perceptions and experiences of AI.
</sec>
<sec><title style='display:none'>Findings</title>
The results reveal that demographic factors such as age, status, education, and occupation do not significantly impact the level of understanding, awareness, or experiences with AI among Macedonian consumers. Participants exhibited a level of high awareness of the importance of AI in e-business and rated their shopping experiences with AI more positively than traditional methods. Trust and reliability in AI did not significantly differ across demographic lines. The findings of this study have significant policy implications, especially in guiding the ethical and responsible integration of AI in e-business. They suggest a need for policies emphasising consumer data protection and privacy, given the heightened awareness and concern among consumers regarding using their personal information. Furthermore, the results advocate for the development of regulatory frameworks that ensure transparency and fairness in AI algorithms, addressing potential biases that could negatively impact consumer trust.
</sec>
<sec><title style='display:none'>Originality/Value/Practical Implications</title>
This research contributes novel insights into the Macedonian consumer market’s perception of AI in e-business, a topic scarcely covered in existing literature. The findings underscore the necessity for businesses to adopt AI responsibly and ethically, highlighting the importance of prioritising fairness, privacy, and transparency to leverage AI’s full potential in e-business. This study stands out in its exploration of AI in e-business from the consumer perspective in North Macedonia, a context not extensively covered in existing literature. The originality of our research lies in its focus on a comprehensive range of consumer-centric factors, including awareness, experiences, ethical concerns, and behaviour related to AI in e-business.
</sec>
</abstract>

Understanding the Consumer Dynamics of AI in North Macedonian E-Business

<abstract>
<title style='display:none'>Abstract</title>
<sec><title style='display:none'>Research purpose.</title>
Succeeding in a changing business world means being familiar with emerging business trends, including issues and challenges related to human resources (HR). The paper investigates HR issues and challenges addressed by HR professionals and line managers of businesses in the Czech Republic. The investigation aims to uncover which HR issues are faced most often and which HR challenges are expected in the coming years to identify existing and potential HR issues and challenges that businesses should deal with to meet their needs.
</sec>
<sec><title style='display:none'>Design / Methodology / Approach.</title>
The investigation is founded on the reanalysis of data from the 2023 HR survey carried out by the Grafton Recruitment Czech Republic staffing agency at the end of 2022. The original data were provided by the co-author representing the staffing agency. The reanalysis was used to utilize the original data, to evaluate responses depending on the business type (manufacturing, non-manufacturing) and size (small, medium-sized, large), and to verify hypotheses concerning realized and planned changes in the number of employees. The original online survey addressed roughly a thousand clients of the staffing agency. The responses were obtained from 478 businesses across the Czech Republic that responded to thirty questions about their HR policies and plans. The reanalysis covers eight questions about their HR roles, issues, and challenges. The original data were not modified. To verify hypotheses, a non-parametric chi-square test of independence for a contingency table was used. To evaluate the degree of dependence between variables, a contingency coefficient was used.
</sec>
<sec><title style='display:none'>Findings.</title>
The surveyed businesses most often face HR issues of employee resourcing. The HR challenges they expect in the coming years concern the development of the employer brand, the introduction of digital and AI technologies, or the introduction of innovative organizational arrangements to hire suitable employees or replace the missing employees. The findings revealed a dependence between realized and planned changes in the number of employees. The realized increase and decrease in the number of employees referred to the planned increase and decrease in the number of employees. The findings revealed no significant differences in responses depending on the type (manufacturing and non-manufacturing) and size (small, medium-sized, and large) of businesses.
</sec>
<sec><title style='display:none'>Originality / Value / Practical implications.</title>
The findings bring original perspectives on existing and potential HR issues and challenges addressed by surveyed businesses in the Czech Republic. The findings contribute to the present theory and practice of employee resourcing by confirming the value of HR professionals and line managers in addressing staffing issues. The findings can be applied in the design of HR service delivery systems in different businesses by highlighting HR issues and challenges that businesses should focus on.
</sec>
</abstract>

What HR Issues and Challenges are Addressed by Contemporary HR Professionals and Lime Managers? A Survey Evidence from the Czech Republic

<abstract>
<title style='display:none'>Abstract</title>
<sec><title style='display:none'>The research purpose.</title>
This study aims to probe the internal consistency of survey questions aligning with priorities outlined in the World Economic Forum Insight Report "Unlocking the Social Economy" within Latvia and Georgia. It delves into the structural makeup of contemporary social entrepreneurs in these nations, their attitudes towards report priorities, and perceptions on fostering social economy development. Additionally, it explores how social entrepreneurship impacts Sustainable Development Goals (SDGs) like 11, 12, and 8, and proposes ways to enhance collaboration between public bodies and social economy actors in Latvia and Georgia.
</sec>
<sec><title style='display:none'>Design / Methodology / Approach.</title>
The body of the survey was constructed according to the World Economic Forum Insight Report “Unlocking the Social Economy” priorities and the developed questionnaire was distributed in Latvia and Georgia from February to March 2024. The respondents were social entrepreneurs from both countries. The pilot study aimed to test the internal consistency of the survey`s questions.
</sec>
<sec><title style='display:none'>Findings</title>
underscore the role of social innovation in tackling contemporary development issues, and in fostering employment and economic growth. It delineates the modern social entrepreneur's profile in Latvia and Georgia, analyses their stance towards report priorities, solicits their views on actions vital for social economy growth.
</sec>
<sec><title style='display:none'>Originality / Value / Practical implications.</title>
Social entrepreneurship is commonly recognized as an integral element of Catalyst 2030, a global movement of social entrepreneurs and social innovators looking to attain the SDGs by 2030. In particular, SDG 11 (Sustainable Cities and Communities), SDG 12 (Responsible Consumption and Production), and SDG 8 (Decent Work and Economic Growth) have been the most strongly impacted by sustainable entrepreneurship research. The research contributes to the process of unlocking the social economy towards an inclusive and resilient society more comprehensive for the social entrepreneurs and public bodies aiming to foster the development of the social economy. The main value of the research is revealing the need to update the relation of the public bodies of Georgia and Latvia to the interaction of social entrepreneurs.
</sec>
</abstract>

Understanding Social Entrepreneurs’ Views on Strategies for Ensuring Social Economy Sustainability

<abstract>
<title style='display:none'>Abstract</title>
<sec><title style='display:none'>Research purpose</title>
Entrepreneurship's evolving role now extends beyond economic realms to encompass broader societal and environmental imperatives. Sustainable entrepreneurship emerges as a linchpin in addressing contemporary challenges, offering innovative solutions that harmonize economic resilience with environmental and social objectives. Yet, the determinants underpinning individuals' intentions towards sustainable entrepreneurship, particularly within the Algerian context, remain underexplored. Keeping this into consideration, our research endeavours to identify the motivational factors influencing the decision to engage in sustainable entrepreneurial activities among students at the Kolea University Pole.
</sec>
<sec><title style='display:none'>Design / Methodology / Approach</title>
Drawing on a quantitative approach, data from 370 student responses were analysed using linear regression analysis.
</sec>
<sec><title style='display:none'>Findings</title>
The findings reveal the significant influence of both internal and external determinants on entrepreneurial intention for sustainable development among students. Internally, factors such as perceived entrepreneurial feasibility, perceived behavioural control, and attitudes towards sustainability emerged as key drivers of entrepreneurial intention towards sustainability. Students with a strong inclination towards sustainability exhibited a heightened intention to engage in entrepreneurial activities aligned with sustainable development goals. Externally, sociological factors and social networks were found to exert a significant positive influence on sustainable entrepreneurship intention. This underscores the importance of familial, educational, and societal support structures in fostering an entrepreneurial mindset among students, shedding light on the role of information and communication technologies in shaping this intention. Yet, the study also highlights a concerning lack of awareness among students regarding the role of entrepreneurship in addressing environmental challenges underscoring the need for educational interventions aimed at cultivating an environmental ethos among students.
</sec>
<sec><title style='display:none'>Originality/Value/Practical Implications</title>
This study contributes to the discourse on sustainable entrepreneurship in developing countries, particularly in Algeria, by elucidating the factors influencing entrepreneurial intention among students. The findings underscore the importance of both internal and external determinants in shaping students' entrepreneurial aspirations, with implications for educational policy and practice.
</sec>
</abstract>

Exploring Entrepreneurial Intention for Sustainable Development: a Study of University Students in Kolea, Algeria

<abstract>
<title style='display:none'>Abstract</title>
<sec><title style='display:none'>Research purpose.</title>
The sustainability concept embraces a wide scope of linked practices: green thinking, sustainability informational and management assurance, ESG reporting and scoring, responsible and impact investment, stability measurements, and others. Significantly expanding beneficiary's and stakeholders' circle needs information to build and implement a policy providing ESG values creation and meeting their requirements in relevant sustainable agenda. This is why it is important to create a transparent information landscape and to shape new highlights in management and decision-making. The article is aimed at exploring specific ways to transform information and management practices, primarily accounting, ESG-reporting, analysis, and assurance to create a transparent information environment for sustainability.
</sec>
<sec><title style='display:none'>Design / Methodology / Approach.</title>
The study is designed as a qualitative analysis of existing information and related practices to identify gaps in the information needed by stakeholders for decision-making with that practically generated in the current environmental momentum. It involves summarising, categorizing, and interpreting open access sources data, such as unidirectional studies, non-financial reporting and ESG-rankings databases, program documents, frameworks and standards for sustainability and "responsible" reporting, professional audit analytics, and others. Logical and comparative analysis was used for data processing. The study’s theoretical framework is based on accounting theories, particularly the Interpretative paradigm.
</sec>
<sec><title style='display:none'>Findings.</title>
The possibilities were assessed following proposed approaches to upgrade the up-to-date system of informational-verifying appraisal practices by the requirements of a proper ESG environment. A holistic system layout was suggested, including information and control practices employed to provide sustainability. The main part of the recommendations refers to accounting and reporting for sustainability. New accounting ESG objects to display in this system were identified. It developed an integrated balance model of total capitals and their sources engaged and ESG -value-creating, taking for the basis traditional balance theory. Given the diversity of corporate non-financial reporting, classification characteristics for ESG reporting were suggested, and two key models of ESG reporting were defined. Recommendations were made in the field of design and methodology for information support of sustainability.
</sec>
<sec><title style='display:none'>Originality / Value / Practical implications.</title>
The article is the author's vision of the problems and ways of advancing traditional information practices in the context of global sustainability management requests. Recommendations for the holistic system of sustainability governance, informational support creation, transformation of accounting, ESG-reporting, other linked practices, streamlining, and methodological development of information activities that can be used in the practical field and employed in programmatic, advisory, and regulatory documents that structure the information field of socio-economic life.
</sec>
</abstract>

Updating the Informational and Control Practices in the Sustainability Agenda

<abstract>
<title style='display:none'>Abstract</title>
<sec><title style='display:none'>Research purpose.</title>
Local communities play a crucial role in the entrepreneurship ecosystem. The role and massive influence of the local environment raise several questions. This paper aims to answer the following questions: (1) how and why the local communities affect SMEs’ sustainability, (2) which pillar of sustainability plays a stronger role in this matter, (3) which internal and external motivators drive a firm’s sustainability actions, and (4) whether company and personal characteristics have a significant effect on local patronage.
</sec>
<sec><title style='display:none'>Design / Methodology / Approach.</title>
A representative sample of leaders (n=300) from the Hungarian SME sector was investigated through a validated survey. The survey explored activities, motivations, organizational characteristics, and leadership factors in CSR and sustainability in the SME sector. Both Likert scaled statements and reasonings for open-ended questions were examined using qualitative and quantitative methods.
</sec>
<sec><title style='display:none'>Findings.</title>
SMEs regularly support various organisations, and communities, mainly if those are in the close region of the enterprise. They regularly promoted culture, education, youth, sport, and vulnerable groups in their local area. Moreover, businesses feel an obligation to support the local communities in which they operate. This activity seems to be divided into a conscious and a hidden part. When we asked for the reason for activities, most answerers expressed that donating to healthcare organisations or education institutes is an obvious civic duty (i.e., pressure from society) but in terms of local communities, the motivation is rooted in personal engagement (i.e., an essential part of social sustainability).
</sec>
<sec><title style='display:none'>Originality / Value / Practical implications.</title>
SMEs poorly express their sustainable activities; they adopt more informal strategies in comparison with large companies. SMEs’ social sustainability lies in engagement and close links with local communities, where companies are targeted towards supporting charitable projects in their surroundings. Even though these actions are less formalised or strategically planned, that is why this research provides a better understanding of the integration of environmental and social concerns of sustainability reflecting all of those benefits.
</sec>
</abstract>

How are the SMEs Committed to their Local Communities in the Term of Sustainability?

<abstract>
<title style='display:none'>Abstract</title>
<sec><title style='display:none'>Research purpose.</title>
The research purpose of this paper was to explore the evaluation of skills by academic staff to improve the quality of the administration process in higher education institutions (HEIs) from two perspectives. Firstly, the authors investigated whether there are statistically significant differences between the genders of academic staff in higher education institutions regarding the evaluation of their skills and competencies. Secondly, the study aimed to determine if there are statistically significant differences in competencies perceived between academic staff of STEM sciences and those with academic experience in other sciences in terms of assessing their professional competencies. The purpose was determined by the impact of self-assessment of professional competencies on the improvement of administrative processes.
</sec>
<sec><title style='display:none'>Design / Methodology / Approach.</title>
The survey, using the authors` developed questionnaire, was distributed in Ukraine from 2019 to 2023. 374 respondents were surveyed. To test hypotheses, the authors employed the Mann-Whitney U test for gender-related hypotheses and the Kruskal-Wallis test for hypotheses related to the area of scientific and academic activities.
</sec>
<sec><title style='display:none'>Findings.</title>
Due to the analysis carried out in the present research, the Mann-Whitney non-parametric test showed that there is no statistically significant difference between the gender groups and their professional competencies evaluation, which leads to the rejection of the first hypothesis. The second hypothesis was also rejected, as based on the Kruskal-Wally’s test there is no statistically significant difference between the perception of the professional competencies among the academic staff of STEM and other sciences.
</sec>
<sec><title style='display:none'>Originality / Value / Practical implications.</title>
Unlike other studies, this research specifically focuses on the differences between the self-assessment-based perceptions by genders and STEM sciences academic staff compared to representatives of other branches of science at HEIs in Ukraine. The practical value is achieved by the research thus ensuring administrative staff with defined competencies and self-assessment criteria. The research findings then will allow us to link competencies to administration processes and offer training and development opportunities based on identified competency gaps. The feedback mechanism might be established based on the research data and these self-assessment results might be incorporated into the performance evaluation processes, thus improving the quality of the educational process and its administration in HEIs. Practical implications are related to the state and period of the research, due to the present war in Ukraine.
</sec>
</abstract>

Improving Quality of Administration Process in HEIs: Professional Competence Perceived by Academic Staff in Ukraine

<abstract><title style='display:none'>Abstract</title><bold>Research purpose.</bold> This paper has established the index of the cycle of money. The index shows the level of the appropriately structured economy. According to the theory of the cycle of money, it is examined if an amount of money is recycled in the economy a lot of times or this amount of money is lost from an economy to other economies or banks abroad, because of inadequate structure of the economy of the country, then the purpose of the paper is to show an application of the case cycle of money, here in the case of Latvia. Therefore, this work aims to clarify how the theory of the cycle of money works to a real case scenario, and in general, how the cycle of money applies to an economy. Moreover, the index of the cycle of money shows how an economy could counteract to an economic crisis and how well-structured it is.<bold>Design/Methodology/Approach.</bold> The methodology followed in this work is based on the mathematical application of the theory of the cycle of money. Then, the current results have as root the equations of this theory for the examination of the case of Latvia for the period from 2012 to 2017. Beyond the mathematical applications, the R.B.Q. model with the Q.E. method is applied to ensure the credibility of the results. Therefore, we have a real case scenario and a simulation case for the case of Latvia.<bold>Findings.</bold> The results of the index of the cycle of money to the case of Latvia are compared with the global average index of the cycle of money. The results show, as expected, that Latvia is above the average global value. Latvia’s findings show that it is a well-structured economy and can counteract an economic crisis.<bold>Originality/Value/Practical implications.</bold> The results are original and show for the first time the cycle of money of Latvia through the application of this theory. This research is the first application of the cycle of money in the case of index calculations. So, it is a completely new concept based on the theory of the cycle of money.</abstract>

Index of the Cycle of Money - The Case of Latvia

<abstract><title style='display:none'>Abstract</title><bold>Research purpose.</bold> The high penetration of the Internet and increased level of use of digital devices create conditions for the development of the digital economy and society. Understanding and management of this model are essential whilst seeking to compete in the global market and to ensure a high standard of living for citizens. However, despite the opportunities presented by the digital economy, the Baltic States have not yet fully exploited the potential of digital technologies for sustainable development. The purpose of this research is to assess the progress of the Baltic States towards developing a digital economy and society and to identify areas requiring priority investments and action.<bold>Design/Methodology/Approach</bold>. The Digital Economy and Society Index (DESI) published by the European Commission is used to explore the potential of the digital economy. It is an index measuring progress in digital performance through five components: connectivity, human capital, use of internet, integration of digital technology and digital public services. DESI is a crucial tool to reflect the performance of the Baltic States in the context of other European countries.<bold>Findings</bold>. The survey shows the individual performance of each Baltic country and compares them amongst themselves as well as with other EU countries. Estonia has the highest DESI when compared with other Baltic countries; however, lower scores in connectivity and integration of digital technology components are observed. Lithuania scores high in the integration of digital technology, whereas the human capital component remains lower. Latvia is a leader amongst connectivity but descents to other Baltic countries in human capital and integration of digital technology components.<bold>Originality/Value/Practical implications</bold>. The digital economy remains a widely discussed topic; however, a lack of unanimous scientific definition and detailed research on this economic model complicates understanding of digital technologies. It is essential for each government to analyse the model and focus on the improvement of the digital economy in order to ensure that the country remains digitally competitive in the world.</abstract>

Digital Economy and Society: Baltic States in the EU Context

<abstract><title style='display:none'>Abstract</title>Despite the initial function of hashtags as tools for sorting and aggregating information according to topics, the social media currently witness a diversity of uses diverging from the initial purpose. The aim of this article is to investigate the communicative functions of hashtags through a combined approach of literature review, field study and case study. Different uses of hashtags were subjected to semantic analysis in order to disclose generalizable trends. As a result, ten communicative functions were identified: topic-marking, aggregation, socializing, excuse, irony, providing metadata, expressing attitudes, initiating movements, propaganda and brand marketing. These findings would help to better understand modern online discourse and to prove that hashtags are to be considered as a meaningful part of the message. A limitation of this study is its restricted volume.</abstract>

Communicative Functions of Hashtags

<abstract><title style='display:none'>Abstract</title><bold>Research purpose.</bold> The development of financial technology sector (<italic>fintech</italic>) poses a challenge for traditional financial institutions. Therefore, it is important to analyze not only how financial technologies can change, but also how the fintech sector affects banks and their profitability. The aim of the paper is to analyze the possibilities for the development of financial technology sector and quantitatively evaluate its impact on the banking sector’s profitability in Lithuania.<bold>Design / Methodology / Approach.</bold> After the analysis of academic literature and statistical data, the authors used expert evaluation method in order to identify development opportunities of <italic>fintech</italic> in Lithuania and correlation-regression analysis was applied to evaluate the impact of <italic>fintech</italic> on the profitability of the Lithuanian banking sector.<bold>Findings</bold>. According to the results of expert assessment research, Lithuania possesses favorable conditions for <italic>fintech</italic> enterprises to enter the Lithuanian finance market; it is expected that this sector will continue to rapidly expand mostly in payments and banking business models. Correlation-regression analysis showed that <italic>fintech</italic> indicators has an effect on the banking sector’s profitability but the effect in not very significant. The significance of the connection is lower because banking sector adapts technologies and is influenced by <italic>fintech</italic> from inside and outside the environment.<bold>Originality / Value / Practical implications.</bold> The <italic>fintech</italic> sector in Lithuania is still new and so far very little researched. The outcomes of this research have expanded the scope of research of the Lithuanian <italic>fintech</italic> sector. The obtained results would be useful and relevant to (i) the government sector to manage risks and ensure stability in the financial sector; (ii) financial sector entities to monitor possible developments and prepare them accordingly; and (iii) banking sector to analyze the impact of technology and <italic>fintech</italic> entities on them and take strategic decisions in this regard.</abstract>

greta.keliuotyte-staniuleniene@evaf.vu.lt

Possibilities for Financial Technology Sector Development and its Impact on Banking Sector Profitability in Lithuania

<abstract><title style='display:none'>Abstract</title> Innovation is essential for economic growth in developed countries. One of the most important sources of innovation is human capital. In this article, state of human capital in EU countries is investigated in order to show the relationship between human capital and national innovation performance. In the first part, theoretical assumptions of human capital importance for innovation processes are analysed. Secondly, measures of human capital are analysed and a measurement model is presented. This model is applied for investigation of state of human capital in 26 EU countries during 2002-2012. Results showed that quality of human capital is the most important factor for innovation performance. Quality indicators have even higher correlation with innovation in countries with low share of innovative enterprises (enterprises with high-level of new technology acceptance and usage). The aim of research is to analyse the theoretical importance of human capital investment for national innovation capability in EU countries, and to determine human capital aspects that foster innovation performance. Therefore, objectives are as follows: to analyse theoretical assumptions of human capital importance for innovation processes and to present the current state of research; to analyse available human capital measures and create a human capital measurement model; and to analyse state of human capital in EU countries as well as its relationship with national innovation capability.</abstract>

The Role of Human Capital for National Innovation Capability in Eu Countries

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Economics and Culture

Aims and Scope  Journal Economics and Culture is a international open-access journal that publishes original scientific papers on the latest empirical and...

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Aims and Scope  Journal Economics and Culture is a international open-access journal that publishes original scientific...

Economics and Culture

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