8th International Scientific-Business Conference LIMEN 2022 - Leadership, Innovation, Management and Economics: Integrated Politics of Research SELECTED PAPERS, Budapest, Hungary, December 1, 2022
8th International Scientific-Business Conference LIMEN 2022 - Leadership, Innovation, Management and Economics: Integrated Politics of Research SELECTED PAPERS, Budapest, Hungary, December 1, 2022
Contributor(s): Vuk Bevanda (Editor)
Subject(s): Politics / Political Sciences, Social Sciences, Economy
ISSN: 2683-6149
Published by: Udruženje ekonomista i menadžera Balkana
Summary/Abstract: Organizing is an evolutionary phenomenon, distinctive because of the laws of existence and maintaining all structures in all processes of their functioning. As such, it is a civilizational phenomenon that occurs as a component of human, individual, and social activities and as a factor in the overall development of man and society. On the other hand, as a deliberate human activity, organizing involves seeking solutions to problems that occur on the way to achieving specific goals. No goal can be achieved without appropriate or necessary, or at least minimal organization of conditions, factors, and processes needed for goal achievement. However, the new era requires new types of leaders and managers and new forms of organization; demands those who are willing and able to lead the company/corporation/state, in a distinct competitive environment, with all the good and bad sides brought by the globalization of world economy. The purpose of the annual LIMEN conference is to support the power of scientific research and dissemination of the research results with the objective to enhance society by advancing knowledge; policy-making change, lives, and ultimately, the world. Our objective is to continue to be the foremost annual conference on cutting-edge theory and practice of leadership, innovations, management, and economics, encouraging advancement via excellence, and interaction. LIMEN conference aims to bring together the international academic community (experts, scientists, engineers, researchers, students, and others) and enable interactive discussions and other forms of interpersonal exchange of experiences and popularization of science and personal and collective affirmation. The annual LIMEN conference is committed to the highest standards of publishing integrity and academic honesty ensuring ethics in all its publications. Conformance to standards of ethical behavior is therefore expected of all parties involved: authors, editors, reviewers, and the publisher. The conference organizer follows the Committee on Publication Ethics (COPE) guidelines on how to deal with potential acts of misconduct. All received full papers prior peer review process are subject to plagiarism check with iThenticate by Turnitin software. Any identified plagiarism automatically disqualifies a paper. Afterward, all full papers are double-blind peer-reviewed by the reviewers drawn from the editorial committee or external reviewers depending on the topic, title, and subject matter of the paper. Peer reviewers provide a critical assessment of the paper and may recommend improvements. Although the author may choose not to take this advice, we highly recommend that the author address any issues, explaining why their research process or conclusions are correct. Association of Economists and Managers of the Balkans headquartered in Belgrade – Serbia along with the partner institutions, namely the Center for Advanced Studies in Management and Economics (CEFAGE-UE), Institute for Advanced Studies and Research, University of Evora, Portugal; Department of Law, Economics and Sociology, University of Magna Graecia, Catanzaro, Italy; Faculty of Economics, University of South Bohemia, České Budějovice, Czech Republic; and Rio de Janeiro Institute College (Faculdade Instituto Rio de Janeiro – FIURJ), Rio de Janeiro, Brazil organized 8th International Scientific-Business Conference titled: Leadership, Innovation, Management, and Economics: Integrated Politics of Research – LIMEN 2022 on December 1, 2022 in the EXE Budapest Center, Budapest, Hungary in a hybrid format (in-person, online and virtually). LIMEN 2022 covered a wide array of topics related to economics, finance, technology, and social issues. It delved into areas such as economic growth, cryptocurrency markets, globalization, artificial intelligence, financial market efficiency, sustainability, pandemic impacts, management practices, tourism, environmental concerns, and legal challenges. The 8th LIMEN conference explored economic theories, market trends, social behaviors, and technological advancements, providing a comprehensive overview of various facets of contemporary global issues. The keynote speaker at the LIMEN 2022 conference was Professor Orlando Gomes representing Lisbon Accounting and Business School (ISCAL-CEFAGE), Portugal with the topic “Global risks and the theory of economic growth”. Within publications from the LIMEN 2022 conference: • 10 double peer-reviewed papers have been published in the LIMEN 2022 Selected Papers, • 39 double peer-reviewed papers have been published in the LIMEN 2022 Conference Proceedings, • 61 abstracts have been published in the LIMEN 2022 Book of Abstracts. Altogether LIMEN 2022 publications have nearly 600 pages. All full papers have DOI numbers and ORCID iD integration. Participation in the conference took more than 100 researchers representing 21 different countries from different universities, eminent faculties, scientific institutes, colleges, various ministries, local governments, public and private enterprises, multinational companies, associations, etc.
- Print-ISBN-13: 978-86-80194-67-7
- Page Count: 113
- Publication Year: 2022
- Language: English
Global Risks and the Theory of Economic Growth
Global Risks and the Theory of Economic Growth
(Global Risks and the Theory of Economic Growth)
- Author(s):Orlando Gomes
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:1-9
- No. of Pages:10
- Summary/Abstract:Although global risks may be sorted into different categories economic, environmental, geopolitical, societal, and technological – they are strongly intertwined and they tend to reinforce one another, easily transforming a localized problem into a perfect storm capable of deeply affecting all economic sectors and all aspects of people’s lives. This short essay undertakes a systematic and integrated discussion of global risks in the context of economic growth theory. A standard endogenous growth (SEG) model is adapted and reconfgured into a global risk endogenous growth (GREG) model.
Managing Circular Economy with a Strategic-Risk Approach
Managing Circular Economy with a Strategic-Risk Approach
(Managing Circular Economy with a Strategic-Risk Approach)
- Author(s):Francesca Gennari
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:11-17
- No. of Pages:8
- Summary/Abstract:The debate about the criticalities of the traditional linear economy-based business model is leading to a more sustainable way of production and consumption which is the circular economy (CE), defned as an economy capable of regenerating itself. However, there is an area of concern related to the risks arising from the changes that CE requires in processes, organization, governance, and relations within the supply chain and with stakeholders. This paper focuses on the main risk areas frms should manage for a successful strategic transition to CE, suggesting a conceptual framework for CE risk identifcation according to a strategic-based approach.
A Survey on Efficiency and Profitable Trading Opportunities in the Cryptocurrency Markets: An Approach in the Context of the War of 2022
A Survey on Efficiency and Profitable Trading Opportunities in the Cryptocurrency Markets: An Approach in the Context of the War of 2022
(A Survey on Efficiency and Profitable Trading Opportunities in the Cryptocurrency Markets: An Approach in the Context of the War of 2022)
- Author(s):Rui Dias, Nicole Horta, Mariana Chambino, Paulo Alexandre, Paula Heliodoro
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:19-30
- No. of Pages:12
- Summary/Abstract:In this paper, we analyse the long memory process in the cryptocurrencies Bitcoin (BTC), Cardano (ADA), Binance Coin (BNB), Dogecoin (DOGE), Ethereum (ETH) and Ripple (XRP) from January 1st, 2018, to November 10th, 2022, which includes the 2020 and 2022 events. The results demonstrate that the daily returns are leptokurtic, and the distributions arennon-Gaussian. We also observe non-linearity, implying autocorrelation or conditional heteroscedasticity in digital currencies. The DFA exponents reveal that throughout the Tranquil period, digital currencies with current values higher than 0.5 exhibited long memory in their returns. The BNB digital currency has an exponent of 0.5, indicating that the series were unpredictable throughout this period. As can be shown, all cryptocurrencies offer values of the DFA exponent greater than 0.5 in the Stress subperiod, implying that the higher the DFA exponent and closer to 1, the higher the persistence, as well as the autocorrelation between observations and stronger predictive ability. The findings support the evidence examined by the BDS test, namely that price movements are not i.i.d. (independent and identically distributed) and that investors have a high possibility of achieving above-average returns through arbitrage.
Time-Varying Co-movements between Wti and European Capital Markets: Implications for Portfolio Diversification and Hedging Strategies
Time-Varying Co-movements between Wti and European Capital Markets: Implications for Portfolio Diversification and Hedging Strategies
(Time-Varying Co-movements between Wti and European Capital Markets: Implications for Portfolio Diversification and Hedging Strategies)
- Author(s):Mariana Chambino, Rui Dias, Nicole Horta
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:31-50
- No. of Pages:30
- Summary/Abstract:This paper aims to analyse whether the events of 2020 and 2022 (Covid-19 pandemic crisis, the oil price war between Russia and Saudi Arabia, and the Russian invasion of Ukraine in 2022) affected efficiency, and accentuated shocks across markets in the Netherlands (AEX), Belgium (BEL 20), France (CAC 40), Portugal (PSI 20), Norway (OBX), and in the West Texas Intermediate (WTI) oil index, during the period from September 18th, 2017, to 15th, September 2022. The findings reveal that markets exhibit more substantial signals of (in)efficiency throughout the global economy’s uncertainty sub-period; nonetheless, we find that the shocks across markets did not increase from the Tranquil sub-period to the Stress sub-period. Furthermore, we also find that WTI lacks the hedging and haven features exhibited by the European capital markets studied. These findings have significant consequences, especially for overseas investors and oil corporations, which try to spread risk, particularly during uncertain times. Finally, we demonstrate that there is no evidence that market (in)efficiency increases the co-movements.
Financial Statement Valuations in the Italian Civil Code: Is Fair Value Really So Extraneous to the Historical Cost Tradition?
Financial Statement Valuations in the Italian Civil Code: Is Fair Value Really So Extraneous to the Historical Cost Tradition?
(Financial Statement Valuations in the Italian Civil Code: Is Fair Value Really So Extraneous to the Historical Cost Tradition?)
- Author(s):Annalisa Baldissera
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:51-58
- No. of Pages:8
- Summary/Abstract:The adequacy of the fair value concerning the historical cost is particularly debated in the literature. This study aims to analyze the Italian legislation on financial statements to verify whether the historical cost is so far from current values. The method applied by this study is based on the historical analysis, from 1942 to today, of the provisions of the Italian civil code on financial statements. The study found that, although the historical cost criterion has always been and still is fundamental, the application of fair value is by no means extraneous to Italian accounting tradition.
Reporting of Social and Governance Measures in 2020 and 2021 by Real Estate Companies Stemming from German-Speaking Countries
Reporting of Social and Governance Measures in 2020 and 2021 by Real Estate Companies Stemming from German-Speaking Countries
(Reporting of Social and Governance Measures in 2020 and 2021 by Real Estate Companies Stemming from German-Speaking Countries)
- Author(s):Dominika P. Galkiewicz, Bernd Wollmann
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:59-70
- No. of Pages:12
- Summary/Abstract:In recent years, Environment, Social and Governance (ESG) related rules such as the Taxonomy Regulation of the European Union (EU) have had a lasting impact on the real estate industry and other market participants, and this trend is expected to continue. This study compares European regulation with common sustainability reporting practices in the Real Estate (RE) Sector in Germany, Austria and Switzerland (DACH region). The aim is to investigate what type of information related to employees and other social and governance issues is being provided and by how many of the largest RE firms are in the years 2020 and 2021. Our findings show that 20 out of 35 sustainability measures are more often reported in 2021 than in 2020. Although the trend is positive, there is still a lot of room for improving reporting quality. Small reporting frequencies are observable in the case of the following ESG measures: violations of the code of conduct (mentioned 1 time in 2020 and 2 times in 2021), safety inspections of buildings (mentioned 5 times in 2020 and 8 times in 2021), the total number of suppliers (mentioned 4 times in 2020 and 6 times in 2021), the share of expenses for local suppliers in % (mentioned 2 times in 2020 and 3 times in 2021), and obtained well-being certificates (reported by 5 firms in 2020 and 4 ones in 2021). Only 5 in 2021 (2 in 2020) firms planned to tie the board compensation to sustainability measures. These findings are important for individuals, companies, institutions and policymakers introducing new sustainability reporting rules in Europe as not only the real estate industry needs to prepare for the uniform EU taxonomy reporting requirements besides CSRD in the future.
A Novel Approach in Corporate Social Responsibility Performance Measurement
A Novel Approach in Corporate Social Responsibility Performance Measurement
(A Novel Approach in Corporate Social Responsibility Performance Measurement)
- Author(s):Maria Belesioti, Michail Glykas
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:71-86
- No. of Pages:16
- Summary/Abstract:Corporate Social Responsibility Performance (CSR) Measurement is as essential as performing CSR. Measurement of Corporate Social Performance is two-fold: firstly, can assist stakeholders in understanding the difference between short-term financial metrics and building valuable long-term relationships and assets leading to long-term corporate value. Secondly, it offers society, employees, and customers the ability to judge a corporation's social behaviour and ethics and reward it accordingly. So, the exact contribution of CSR to a company and its stakeholders should be evaluated and assessed by tangible and measurable results. Since there is no standardised method or predefined criteria for CSR assessment, literature has tried to define the influencing factors of corporate social performance and to describe the techniques and methodologies of CSR assessment. However, due to its "soft nature", the pure social part of the term is difficult to measure. Corporations use Global Reporting Initiative (GRI) Standards and Key Performance Indicators (KPIs) to measure their performance. However, these measures are not sufficient since they cannot affect corporate strategic goals. In the present paper, a CSR performance measurement framework is presented, targeting to assist organisations in measuring the effectiveness of their CSR initiatives. The key factors affecting corporate performance are identified, and a literature review of the concept is performed.
The Digital Nomad Motivation in the Republic of Croatia
The Digital Nomad Motivation in the Republic of Croatia
(The Digital Nomad Motivation in the Republic of Croatia)
- Author(s):Kristina Devčić, Ivana Tonković Pražić
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:87-94
- No. of Pages:8
- Summary/Abstract:Advances in computer and information technologies, widespread access to the Internet and more frequent use of mobile devices allowed for the development of new lifestyles and options for organization of work. Among the most prominent trends of this kind that seems to be gaining popularity is digital nomadism. Digital nomads abandoned the traditional work structures and choose to work remotely at locations that best suit their needs. This paper adds to existing research by investigating the motivation behind the decision to become a digital nomad in a less advanced economy. In order to achieve this aim, empirical research was carried out during the fall of 2022. The collected data was analyzed with Cronbach’s Alpha coefficient to test the reliability of the items and explorative factor analysis to extract different motivation factors. The results unveil that Croatian workers may be motivated to become digital nomads and what might motivate them to do so.
Impact Assessment of COVID-19 on the Tourism Industry in North Macedonia
Impact Assessment of COVID-19 on the Tourism Industry in North Macedonia
(Impact Assessment of COVID-19 on the Tourism Industry in North Macedonia)
- Author(s):Kristina Velichkovska, Besnik Mustafa, Bojan Georgievski
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:95-102
- No. of Pages:8
- Summary/Abstract:As a result of closed borders, limited mobility, and social distancing, tourism is one of the first and most severely affected economic sectors during pandemics. Considering the characteristics of Covid-19 in terms of speed of spread and the consequences it has on human health, it was the most serious crisis that the tourism industry has faced so far. To prevent the spread of the virus, many countries implemented border lockdowns which disrupted life and caused a severe economic downturn. The restrictive measures caused a significant decline in economic activity and brought tourism to an abrupt halt. This paper estimates the impact of Covid-19 on tourism and contributes to a better understanding of the effects of COVID-19 on tourism in North Macedonia and the required response in different sectors at various scales.
Enogastronomic Experience: A State-of-the-Art-Review
Enogastronomic Experience: A State-of-the-Art-Review
(Enogastronomic Experience: A State-of-the-Art-Review)
- Author(s):Krešimir Mikinac, Marina Laškarin Ažić, Dpra Rašan
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:103-114
- No. of Pages:12
- Summary/Abstract:The specificity of food and wine in a particular region can serve as a motive that connects consumers to a particular geographic area. Therefore, the enogastronomic experience is a perfect postulate combining gastronomy and enology for consumers. This research aimed to conduct an in-depth analysis of previous research and obtain a comprehensive picture of the enogastronomic experience of consumers. The result of the empirical research shows that most studies on the enogastronomic experience were published in 2020 (25.53%) and in Spain (17.02%), while the cluster analysis showed that "food" and "satisfaction" are the most frequently used keywords. It is also worth highlighting that almost half of the research in the field of restaurateurs is from the perspective of consumers (40.42%). The results of this research can help both researchers and practitioners engaged in the field of enogastronomy to better cope with the challenges of competition in the market.