Year 2024, Issue 1

Date published

21.3.2024

CONTENTS

  • Xiaoqing Guo, Penka Shishmanova, Anna Orlova, Pavlo Nesenenko, Yana Mankuta
    TECHNOLOGICAL THEORIES IN ECONOMICS AND MANAGEMENT: EVOLUTION AND APPLIED ASPECTS
    Abstract: The contemporary stage of social development is characterized by the widespread adoption of technologies that contribute to the effective advancement of business and the economy as a whole. The successful application of these... The contemporary stage of social development is characterized by the widespread adoption of technologies that contribute to the effective advancement of business and the economy as a whole. The successful application of these technologies in economic and managerial practices necessitates an exploration of past ideas and experiences, which are subsequently to be theoretically conceptualized and enhanced. In this context, the objective of the current article is to trace the evolution of technological theories, pinpoint some unresolved issues, and emphasize the need for further investigation within the realm of managerial technologies. To achieve this objective, a retrospective examination of technological theories has been undertaken, analyzing fundamental theoretical and practical aspects of management technologies. As a result of this investigation, a shift has been identified from specialized towards comprehensive managerial technologies, the more significant characteristics have been systematized, and main elements and trends in modern managerial technologies have been analyzed.
  • Elżbieta Bukalska, Gabriela Dycha
    COMPENSATION OF NARCISSISTIC CEOs WITH STAKE IN EQUITY: A STUDY OF POLISH COMPANIES
    Abstract: Background: Behavioural personal characteristics are proven to have an impact on corporate decisions. There have been many behavioural biases and fallacies identified so far. One of the important behavioral traits is narcissism.... Background: Behavioural personal characteristics are proven to have an impact on corporate decisions. There have been many behavioural biases and fallacies identified so far. One of the important behavioral traits is narcissism. Managerial narcissism and the belief in their own grandiosity affect their corporate behaviour. Previous research finds that narcissistic leaders have higher compensation. However, previous research takes into account only job-related compensation and ignores the common fact that the CEO is often the owner of the company. The aim of our research is to explore the impact of a narcissistic CEO who has a financial stake in the equity on their total income. Our research refers to the situation when narcissistic CEOs labour and capital are involved in the same company, which is quite common in a business environment. Thus, the compensation consists of two parts: job-related (salary) and capital-related (dividend). Methods: We have conducted our research on a sample of 160 companies from the Warsaw Stock Exchange over six years (2017-2022). We have performed statistical analysis of data with descriptive statistics, correlation matrix, and regression analysis. Results: We have found that a narcissistic CEO with a stake in the company negatively affects both job and total compensation. Conclusions: We believe that the lower compensation of narcissistic CEOs is the price they pay in return for both their prestige and the sound financial standing of the company. The financial soundness of the company allows them to stay in power (by meeting owners expectations), and remain in the centre of attention. Structure of the paper: The paper starts with a literature review on the issues included in the research, especially: CEO compensation, CEO ownership, and CEO narcissism. Then, we present our research plan and the methodology. Later, we report our findings and discuss our findings with previous ones. Finally, we present the conclusions.
  • Marajn Angeleski, Olivera Kostoska
    DIGITAL LEARNING IN A POST-PANDEMIC ECONOMY: EVIDENCE FROM EUROPEAN COUNTRIES
    Abstract: Background: The Covid-19 pandemic has enabled countries to jump faster into the future of digital learning. However, the question arises as to what the lasting effects of the pandemic would be, in terms of what education will look... Background: The Covid-19 pandemic has enabled countries to jump faster into the future of digital learning. However, the question arises as to what the lasting effects of the pandemic would be, in terms of what education will look like in the post-Covid era; will this way of learning become the new normal or should the world immediately be returned to pre-pandemic mode of physical classroom. Purpose: This article aims to address the above-mentioned challenge by examining trends, shifts, and changes in doing online courses or using online learning materials across European countries prior to the outbreak of the pandemic until the time when many countries removed the measures. Methods: The analysis is based on Eurostat statistical data for 37 European countries regarding Internet use by individuals doing online courses and Internet use in general from 2019 to 2022. Aside from descriptive statistical analysis and distribution of data and trends, a cluster analysis is performed to examine how different groups of countries respond to pandemic-induced changes and how they can move forward in terms of digital learning practices. All statistical measurements are performed in the Python programming language using diverse set of libraries, including algorithm for conducting a cluster analysis. Results/conclusions: The results suggest that during the temporary physical closures due to the pandemic, online courses were considered a safe backup system for learning and training, but the popularity of virtual courses declined as social restrictions began to ease. At the same time, the composition of clusters evolves over time, which points to changes in the dynamics of engagement in online courses among various groups of countries. Overall, the analysis made here represents a useful guide for formulating strategies to further promote and support digital inclusion and online education initiatives.
  • Steen Bjerre, Anka Tsvetanova, Siya Veleva
    PROFILING SCHEME FOR POTENTIAL STRESS
    Abstract: It is a daily task for management to design jobs, pay systems, job descriptions and other aspects of organizational functioning. But by including a profiling of employees potential workplace stress, companies could improve the... It is a daily task for management to design jobs, pay systems, job descriptions and other aspects of organizational functioning. But by including a profiling of employees potential workplace stress, companies could improve the daily health of employees and support a healthy and motivated organization underpinning a satisfactory company performance. Drawing an employees stress profile would enable the manager to address the workplace stress prior to it actually happens, which would be beneficial for both the employee and the company. The aim of the paper is to suggest a profiling scheme for potential stress based on 12 so-called stress boosters. The profiling should be viewed upon as an operational tool, which managers can use in their daily management of both employees facing a potential risk of becoming stressed, but also to support the process of hiring new employees.
  • Katya Emilova Kirilova
    BUILDING A CONCEPT FOR CYBER SECURITY OF AN EDUCATIONAL ORGANIZATION IN BULGARIA
    Abstract: Background: The topic of cyber security of organizations is becoming more relevant for modern societies. In that area, both scientific research and practical applications of various platforms, technologies, and tools for... Background: The topic of cyber security of organizations is becoming more relevant for modern societies. In that area, both scientific research and practical applications of various platforms, technologies, and tools for guaranteeing security levels have undergone serious development in recent years. The research objective is based on a study of leading literature sources and the accumulated experience in the subject area to propose and approve an adequate model for ensuring cyber security of an educational institution. Methods: Different organizations adopt different approaches and apply different methods to create systemic conditions for ensuring cyber security. The methods used in the research are based on the specifics of the business processes that take place in the organizations. Based on them, the specifics of educational organizations are highlighted, which determine the creation of a relevant concept of cyber security with appropriate technological measures. Results: The concept proposed in the present study is based both on the current legal framework of the European Union and the Republic of Bulgaria, as well as on good practices and approaches in the subject area. The concept has been implemented and the presented results prove its usefulness for the educational organization. The period to which the empirical part of the study refers is 2022-2023. Conclusions: The main results of the study are in the direction of achieved monitoring of the external perimeter of the organization, implemented monitoring of user behaviour, risk management of information assets, and increased cyber security of the organization.
  • Mykhaylo Oryekhov, Dariia Zelinska, Vladyslav Hirdvainis, Victoria Yatsenko, Valerii Mytsenko
    MANAGING THE INTELLECTUAL POTENTIAL OF GLOBAL VALUE CHAINS IN THE CONTEXT OF DIGITALIZATION CHALLENGES
    Abstract: This article delves into the interrelationship among contemporary economic phenomena, namely global value chains, digitalization, and the management of intellectual potential. The paper scrutinizes and underscores the antecedents... This article delves into the interrelationship among contemporary economic phenomena, namely global value chains, digitalization, and the management of intellectual potential. The paper scrutinizes and underscores the antecedents that led to the inception of the global value chains concept, and delineates an evolutionary diagram of this notion. The aim of this paper is to examine the importance of global value chain challenges and their impact in the digitalization context. To achieve this goal, the Delphi method of collective examination is used in order to conduct a large-scale survey with the involvement of economists working in the global value chains field. The results of the study show that the factor Lack of skills in the use of digital technologies is the most influential, and the factor Corporate culture is the least influential. A statistical survey was carried out, involving a sample of sixty respondents who are experts in the field. Subsequently, a number of challenges were ranked based on the scores obtained through the Delphi collective examination methodology. The research confirms the pronounced significance of macro groups encompassing challenges to cyber security and the degree of digitalization among the companys personnel. The novelty of this research lies in the proposed classification of the challenges of the global value chains in the digitalization context and conclusions obtained thanks to the collective expertise regarding the significance of the classified factors.