Founded in 2001. Transformations in Business and Economics is an international journal of scholarly papers that publishes original scholarly articles devoted to the most important problems in the field of Economics and Management. Registered in Scopus (Q2) from 2007 and Web of Science (Q3) from 2005.
Vilniaus universiteto leidykla / Vilnius University Press
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Promoting National and International Scientific Events & Promoting International Scientific Networks
Characterizing Regional Tourism in Romania through Web-Scraped Data and Multivariate Statistical Analysis
The study investigates the tourism profile of Romania’s counties by using automatically collected data from a major online travel platform. The analysis integrates variables related to the number of accommodation facilities, average prices, overall and category-specific ratings, number of reviews, and available amenities. To identify regional typologies and the determinant factors of tourism quality and development, cluster analysis and Principal Component Analysis (PCA) were applied. The results revealed four distinct clusters corresponding to different levels of development and attractiveness, as well as two principal components: a Tourism Offer Quality Component, reflecting visitors’ satisfaction and perceptions of services, and a Tourism Development Component, associated with the scale and intensity of tourism activity. The study provides an integrated view of regional disparities, highlighting mature tourism destinations, counties with growth potential, and emerging areas, and offers recommendations for differentiated regional development and tourism promotion policies. The innovative contribution of this research lies in the use of alternative, web-scraped data that complement and enrich official statistics and data, offering timely, detailed insights, oriented towards the actual experience of tourists. Based on the findings, the study proposes recommendations for decision-makers, aiming to stimulate growth in emerging regions, improve service quality, and support balanced regional tourism development across Romania. By integrating digital data and multivariate methods, the research makes an original contribution to understanding the competitiveness and performance of regional tourism in Romania.
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From Crisis Mode to Choice: Factors Influencing Student Satisfaction with Online Education
This study examines undergraduate students’ satisfaction with online learning compared to traditional teaching at a Romanian economic university. Using survey data from 313 students collected between April 2022 and March 2023, the research analyzes satisfaction levels, perceived challenges, and key predictors influencing the online learning experience. Results indicate generally high satisfaction, frequent use of audio-video platforms, and strong recognition of cost savings, although some students reported technological barriers, workload pressure, and emotional difficulties. Regression analyses reveal a bidirectional relationship between satisfaction and preference for online learning, and underscore the importance of institutional quality, prompt feedback, and acceptance of online learning as the “new normal.” The S.T.A.R. factors– technical competency, additional assignment time, teacher preparedness, and time-management challenges – account for a significant portion of satisfaction variance. The study concludes that effective online learning depends on the alignment of student skills, instructor readiness, and institutional support.
The Impact of the New Complex of Threats on Human and Societal Resilience in The Baltic Sea Region Countries During Periods of Shocks
The contemporary world is increasingly shaped by multiple overlapping threats, including pandemics, socio-economic inequality, geopolitical tensions, climate change, and technological risks. These challenges create new forms of uncertainty that affect both individuals and societies. In this context, strengthening human and societal resilience has become an important condition for sustainable development. This paper examines the impact of this new complex of threats on human and societal resilience in the Baltic Sea Region (BSR) countries during periods of shocks. The aim of the study is to assess how major global threats influence human development and resilience in the BSR countries and to identify possible directions for strengthening resilience. The analysis focuses on ten countries of the region: Denmark, Sweden, Finland, Germany, Estonia, Latvia, Lithuania, Poland, Norway, and Iceland. The research relies on the analytical framework of the United Nations Development Programme and uses indicators such as the Human Development Index (HDI), the Inequality-adjusted Human Development Index (IHDI), and the Planetary Pressures-adjusted Human Development Index (PHDI). The results show that although human development in the BSR countries has generally improved, significant differences remain between country groups. Inequality and planetary pressures reduce the potential of human development and weaken resilience, while countries with higher development levels demonstrate greater capacity to withstand shocks. The findings highlight the importance of reducing inequality, strengthening human potential, and integrating social, economic, and environmental policies in order to build more resilient societies in the Baltic Sea Region.
A Hybrid MCDM Framework for Overcoming Barriers in the Covid-19 Vaccine Supply Chain
The COVID-19 pandemic has posed unprecedented challenges globally, with the vac-cine supply chain (VSC) serving as a critical lifeline to mitigate the spread of the virus. This paper addresses the significant barriers to the COVID-19 VSC, identifies strategies for overcoming these barriers, and proposes a hybrid multi-criteria decision-making (MCDM) approach for prioritising these strategies. Using the Best-Worst Method (BWM) to determine the weights of barriers and the Weighted Aggregate Sum Product Assessment (WASPAS) method to rank strategies, this study reveals that the most significant barriers include challenges in monitoring and controlling vaccine temperature, maintaining cold chain logistics, and dealing with costs and suboptimal immunisation budgets. The findings suggest that fostering collab-oration, cooperation, and coordination across organisations is the most effective strategy for overcoming the mentioned barriers. This research provides actionable insights for policymakers, healthcare systems, and vac-cine distributors to enhance the efficiency and resilience of the COVID-19 VSC, contributing to global vaccination efforts. The study’s implications extend to future pan-demic response planning, offering strategies to build more sustainable and adapt-able vaccine supply chains.
Weighted Aggregated Sum Product Assessment (WASPAS)
Bringing Brands to Life: The Mediating Role of Brand Attachment in the Relationship between Brand Anthropomorphism, Brand Love, and eWOM
Brand anthropomorphism, defined as the act of personifying brands, has gained significant attention from research scholars within the current market. The present research investigates how brand anthropomorphism, a powerful branding strategy, promotes brand attachment, particularly in the confectionery industry. The study employs the theory of attachment and anthropomorphism. Responses from 463 participants were collected via social media, specifically from those who interacted with anthropomorphised brands used in the confectionery industry. PLS-SEM was employed to analyse the relations between variables and examine the mediating role of attachment with the brands. Results confirmed that anthropomorphic brands significantly enhance attachment and help strengthen brand love, thus inspiring consumers towards a positive electronic word-of-mouth (eWOM). The analysis reveals that brand attachment fully mediates the effect of anthropomorphism on brand love and partially mediates its impact on eWOM. The results propose that brand humanisation can be a powerful approach to building emotional connections, driving consumer encouragement, and strengthening brand perceptibility through eWOM. The research provides valuable insights for marketers, highlighting the importance of anthropomorphism in fostering stronger consumer relationships with the brand, leveraging these bonds to establish long-term relationships and promote a positive eWOM.
Rethinking Team Viability: Literature Review and New Conceptualisation
This study focuses on the concept of team viability. Following a literature review on team viability, this study first analyses the historical confusion and inconsistency in how team viability has been defined and measured, as well as compared to similar constructions such as team satisfaction, cohesion, or willingness to stay in the team. The literature synthesis helped categorise the various conditions essential for team viability into six distinct groups: organisational context, team composition, leadership style, team synergy, and teamwork results, which were drawn from both theoretical and recent empirical research. Finally, a new, more precise definition of team viability is formulated to guide future research and the development of a more reliable team viability assessment instrument.
Compensation Structure and Real CSR Reporting Activity: CEO Dollars and Sustainable Sense
We utilize the voluntary Corporate Social Responsibility (CSR) environment in the Unted States (U.S.) to examine executive compensation and impact on real firm activities. Specifically, we consider both debt-like incentives of pension compensation and complex agency frictions arising from mixed executive compensation structures. We explore how the frictions between the short-term incentives of equity compensation and the long-term incentives of debt-type compensation influence real firm activities. Focusing on CEO pension compensation, we examine voluntary U.S. CSR reporting from 2006 to 2020. We find that firms offering higher pension compensation are less likely to initiate CSR reporting, but more likely to engage in ongoing voluntary CSR disclosure post-initiation. Additionally, ongoing CSR reporting is more prevalent when the CEO's pension compensation is higher relative to other forms of compensation, such as cash-based (salary and bonus) and equity-based compensation (stock options). This indicates that CEOs with substantial pension compensation are incentivized to make decisions that preserve long-term firm value, ensuring their pensions are secured. Furthermore, we observe that CEOs are more likely to engage in ongoing CSR reporting in environments where the alignment of compensation structures with firm capital structures minimizes agency risk. This suggests that the alignment of incentive structures with real firm activities is more achievable in contexts where agency friction is minimized. These insights offer valuable implications for understanding agency theory, optimizing compensation incentives, and enhancing CSR reporting and voluntary disclosure practices.
corporate social responsibility reporting
How Enterprise Digital Transformation Reshapes Risk Sharing between Banks and Enterprises: Based on Multiperiod DID Analysis
The digital transformation of enterprises is seen as a key variable in reshaping bank–enterprise relationships and enhancing a financial system’s resilience. However, the literature has rarely provided a systematic explanatory framework or theoretical mechanisms for how and whether it alters the risk-taking behavior between banks and enterprises. Drawing on theories of information asymmetry and financing constraints, using the data from nonfinancial listed companies on China’s A-share market from 2013 to 2021, a multiperiod difference-in-differences model was employed to explore how corporate risk-taking influences bank risk-taking, and the heterogeneous effects were examined based on enterprises’ level of digital transformation, R&D investment, and information transparency. Results reveal that corporate risk-taking has a significant inhibiting effect on bank risk-taking, exhibiting a clear inverse change. Furthermore, the results after incorporating the effects of digital transformation reveal that corporate risk-taking has a significant promoting effect on bank risk-taking, leading to a clear positive change. In particular, corporate risk-taking influences bank risk-taking through the mechanisms of information asymmetry and financing constraints, serving as a mediating effect. The degree of competition between enterprises also plays a significant positive moderating role between corporate and bank risk-taking, thereby enhancing the promoting effect of corporate risk-taking on bank risk-taking. Furthermore, the influence of corporate risk-taking on bank risk-taking is heterogeneous, and enterprises with higher digital transformation levels, more R&D investment, and better information transparency have a more pronounced positive promoting effect. The conclusions provide decision-making support for the coordinated promotion of bank–enterprise risk-sharing through digital transformation.
The Impact of Enterprise Social Media Use on Employee Innovation Behaviour
This study employs the survey questionnaire method to empirically investigate how enterprise social media affects the innovation behaviour of employees in China-based enterprises, examining the roles of team climate and leader-member exchange. Accordingly, the study participants were recruited through the Credamo platform. By applying the social exchange theory, the study findings indicate that leader-member exchange and team climate constitute substantial mechanisms that influence the effects of enterprise social media on employees’ innovation behaviour. The use of enterprise social media facilitates interaction between leaders and subordinates, stimulating employees to foster job commitment and innovative behaviour, and optimising organisational performance. As a result, innovative behaviour is supported through optimised social exchange processes in the workplace. Furthermore, this research also confirms the profound moderating effects of enterprise social media intensity on the relationship between the use of enterprise social media and employee innovation behaviour. Reportedly, leader-member exchange bolsters the effect of employee innovation behaviour by augmenting the intensity of enterprise social media. Thus, this study offers valuable insights into the influence of enterprise social media use on social exchange relationships and employee innovation behaviour.
Optimising Special Voting Rights in Dual-Class Share Structure Companies: A Corporate Governance Perspective from China
China has established a pre-access approval system for companies with dual-class share structures that adopt special voting rights. Due to the overly stringent nature of this approval process, few companies opt for the special voting rights system. This paper examines the application of the special voting rights system and dual-class share structures in Chinese companies, as well as the current status of relevant legal texts. Through normative and comparative analysis, it is found that the strict pre-access regulations for the special voting rights system have led to issues such as the overall design deviating from market innovation goals, information disclosure deficiencies resulting in inefficient information utilisation, and insufficient incentives limiting the role of independent directors. These problems hinder the full mobilisation of continuous innovation enthusiasm in tech-driven enterprises and, in the long term, are detrimental to the modernisation of China’s capital markets. To address these issues, mechanism design theory should be introduced to transform the regulatory model of the special voting rights system, reconstructing it with an incentive-oriented approach while moderately relaxing pre-access controls. By implementing measures such as incentive compatibility, improving information disclosure, optimising the functions of independent directors, and enhancing judicial remedies, a balanced regulatory environment can be created, achieving a dynamic equilibrium between innovation development and the protection of minority shareholders’ interests.
Evaluating Scale Efficiency of Industry Clusters: a DEA Approach
The paper deals with the impact of the existence of clusters on the efficiency of firms in terms of scale. The research subject is seven industries, six of which are manufacturing industries (automotive, engineering, furniture, nanotechnology, packaging and textile industries) and one service industry (IT). Technical and scale efficiencies were investigated in these industries from 2009 to 2021. The analysed firms were divided into two groups. The first group consists of members of the cluster organisation and companies operating in the same region as the cluster organisation. They may, therefore, share to some extent the positive externalities of the cluster organisation. The second group then represents other firms from more distant regions. The results show no positive impact of the existence of clusters on scale efficiency. Only in one industry - textile - a significant difference in the level of scale efficiency was found, but in reverse order. That is, non-clustered textile firms have achieved higher scale efficiency than clustered firms. Three industries (furniture, IT and packaging) are dominated by companies in conditions of increasing returns to scale. In the automotive industry, companies were on average close to optimal scale production around 2018-2019. However, the COVID-19 pandemic and subsequent sales problems in the industry marked a turning point for scale efficiency. In IT services, clustered companies in particular were close to optimal scale. In other industries, companies operating in a situation of declining returns to scale were significantly more prevalent.
Characteristics of Spatial and Temporal Evolution of The Distribution of High-Tech Textile Enterprises in China and Its Influencing Factors
The spatial distribution of high-tech textile firms directly affects the effectiveness of industrial agglomeration, technological diffusion, and competitiveness enhancement. Using provincial panel data (2011–2023), this study adopts centroid migration analysis, Gini coefficient decomposition, and spatial Durbin modeling to systematically explore the spatiotemporal evolution and underlying determinants of China’s high-tech textile firms. Reportedly, there is a pronounced two-stage growth trajectory, characterised by rapid expansion from 2012 to 2017 and a marked slowdown after 2018, including negative growth during and following the COVID-19 pandemic. Further econometric evidence from the spatial Durbin model highlights land prices, industrial scale, market potential, human capital, and technological innovation capacity as key factors exerting significant spatial spillover effects. Conversely, wage levels and regional economic development also affect enterprise location decisions but exhibit comparatively weaker spatial spillovers. This study contributes to the interdisciplinary discourse bridging economic geography and business management by clarifying the multifaceted drivers of industrial spatial distribution. Thus, the findings offer actionable insights and policy guidance for optimising textile industry layouts and regional economic coordination under China’s dual-circulation development framework, with broader implications for emerging economies.
Equity Incentive Mechanism for an Alliance-Based Agricultural Product Logistics Model under Digital-Intelligence Platforms
In China, agricultural logistics systems are still confronted with persistent challenges, including excessive circulation links, high post-harvest losses, and elevated transaction costs. As a result, market mismatches characterized by unsold produce and difficulties in procurement are frequently observed. Increasing attention has therefore been drawn from policymakers, industry practitioners, and academic researchers. Existing studies are primarily focused on infrastructure investment, information system development, and the optimization of individual logistics models. However, systematic investigations into multi-agent collaborative governance and stable incentive mechanisms under digital-intelligence platforms remain scarce. To address this gap, a conceptual framework for an alliance-based hybrid agricultural logistics model was constructed by synthesizing China’s logistics practices with international experience. Within a multi-principal–multi-agent theoretical framework, a supply chain consisting of agricultural suppliers, digital platform enterprises, and third-party logistics providers was examined. An equity incentive mechanism was introduced to analyze participants’ effort levels, payoff structures, and cooperation stability. Simulation results demonstrate that the lead agent’s additional returns increase significantly as the equity share rises, accompanied by enhanced effort provision. The lead principal’s logistics expenditures decrease with higher equity allocation, while the payoffs of subordinate principals and agents remain largely stable. A Pareto-improving outcome is thus generated for all supply chain participants. The findings offer a novel theoretical explanation for the recurring problem of unsold agricultural products and provide valuable managerial insights for the design of logistics structures and incentive mechanisms in digital-intelligence platform environments.
incentive mechanismsincentive mechanisms
Impact of Extra-Eu Exports on Economic Non-European Countries’ Growth: Panel Evidence from 140 Partners
This study examines the impact of extra-EU exports on the GDP of trading partners, with a particular focus on the moderating role of export trade efficiency. Using panel data from 140 partners over 22 years (2000–2021), pooled OLS, random effects, fixed effects, and correlated random effects models are employed to assess both short and long-term impact of extra-EU exports on economic growth. Regression analysis reveals a statistically significant positive correlation between extra-EU exports and the GDP of partner countries, demonstrating a dual transmission mechanism: short-term demand-side stimulation through fluctuations in export volume and long-term supply-side structural impacts through the optimisation of export composition and adjustments to trade policy. Further research indicates that the moderating effects of trade efficiency primarily stem from long-term factors, such as the deepening of free trade agreements, the implementation of trade facilitation measures, and improvements in market openness. The study provides critical insights for policymakers and economists, particularly in the new era of trade tensions, where extra-EU exports play a vital role in sustaining global economic recovery.
The article addresses the issues of identifying the impact of the independent indicators analyzed (i.e. insurance and financial services, gross capital formation, transport services, foreign direct investment, research and development expenditure, changes in inventories and inflation) at the level of the 22 European economies over a period of 23 years. The evolution of goods and merchandise exports, were considered dependent indicators. According to our findings within the econometric study, higher volume related to the exported goods and merchandise are associated with high levels of insurance, gross capital formation, transport services, FDI, R&D expenditure and inventories. Our analysis confirms that significant increase in prices due to cost-push inflation can negatively impact trade by making exports less competitive in international markets. Conversely, efforts to address trade imbalances through cost reduction measures may result in economic distress. Therefore, maintaining a balanced approach to inflation and trade policies is essential to ensuring overall economic stability. We have identified that clusters of EU countries having lower inflation, like North-Western European countries, tend to have higher trade activity. In the same time, the South Eastern-European countries show lower overall values, which might indicate developing or smaller economies. These results add value to the existing literature, concluding and formulating recommendations for policy support, to contribute and increase exports competitiveness both at the EU level and for South Eastern European.
New Urbanisation and Regional Economic Development: Spatiotemporal Characteristics of County Towns
Inevitably, the Chinese path aims to modernise and integrate urban and rural development to promote the construction of new urbanisation with county towns as important carriers. Using inter-provincial panel data from China from 2006 to 2022, this study employs the “vertical and horizontal segmentation entropy weight method” to scale new urbanisation, with county towns as important carriers. Further, the spatiotemporal characteristics of Chinese new urbanisation, with county towns as important carriers, were analysed using kernel density estimation, the Dagum Gini coefficient, a Markov chain, and a convergence model. The key conclusions are drawn as follows: (ⅰ) The new urbanisation with county towns as important carriers has realised rapid and sustained growth, with a clear spatial pattern of “high in the east, followed by the middle, and low in the west” from the middle and low levels to the middle and high levels; (ⅱ) a certain degree of convergence in the central, western, and national regions exists, whereas the differentiation phenomenon is more pronounced in the eastern region; provinces at low and high levels exhibit a relatively high probability of maintaining their original level; the phenomenon of low-level convergence and high-level convergence clubs is more prominent; (ⅲ) the spatial differences have eased, and the regional differences constitute the core portion of the overall differences, but their contribution is gradually diminishing; (ⅳ) the new urbanisation, with county towns as an important carrier, demonstrates a certain degree of <!-- [if gte mso 9]><xml> <o:OLEObject Type="Embed" ProgID="Equation.DSMT4" ShapeID="_x0000_i1025" DrawAspect="Content" ObjectID="_1838278223"> </o:OLEObject> </xml><![endif]--> convergence; there are absolute <!-- [if gte mso 9]><xml> <o:OLEObject Type="Embed" ProgID="Equation.DSMT4" ShapeID="_x0000_i1026" DrawAspect="Content" ObjectID="_1838278224"> </o:OLEObject> </xml><![endif]--> convergence and <!-- [if gte mso 9]><xml> <o:OLEObject Type="Embed" ProgID="Equation.DSMT4" ShapeID="_x0000_i1027" DrawAspect="Content" ObjectID="_1838278225"> </o:OLEObject> </xml><![endif]--> conditional convergence, however, their speed is relatively slow.
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Exploring the Influence of Equity Perception on Homestead Withdrawal Intention of Farmers: An Empirical Investigation
Promoting the orderly withdrawal of idle homesteads is a key strategy for optimizing the allocation of urban and rural land resources and advancing rural revitalization. A crucial factor in this process is the intentions of farmers. Previous studies have investigated the factors influencing the withdrawal intention of farmers from multiple perspectives, such as risk perception, family characteristics, resource endowment, and operational mechanisms. However, systematic empirical research on the compensation standards that farmers are most concerned about, particularly the underlying mechanisms of equity perception, is lacking. Therefore, a three-dimensional (reasonable consideration–horizontal equity–vertical equity) analytical framework was constructed based on Adams’s Equity Theory. An empirical analysis was conducted using a binary Logit model, drawing on survey data from 1236 questionnaires involving farmers in rural areas of Henan Province. Results reveal the following: (1) Farmers display high sensitivity to equity in withdrawal decision-making, with equity perceptions across all three dimensions being positively correlated with withdrawal intention. (2) Compared with the absolute amount of compensation, farmers place greater importance on “relative equity” (horizontal equity and vertical equity). (3) Among the control variables, rural household registration, degree of policy awareness, and presence/absence of a town house are significantly positively correlated with withdrawal intention, while age, dependence on agricultural income, and homestead remoteness are negatively correlated with withdrawal intention. Accordingly, policy recommendations include the introduction of a third-party assessment, formulation of graded compensation standards, and diversification of compensation modes. These recommendations aim to effectively facilitate the orderly withdrawal of idle homesteads by strengthening the positive equity perception of farmers. Overall, this study provides a theoretical basis and empirical support for improving homestead withdrawal compensation policies and offers valuable insights for promoting rural land system reforms.
Spillover Effects of Benchmark Companies Improved Environmental, Social, And Governance (ESG) Performance on Industry Customer Relationship Stability: Empirical Evidence from China
The uncertainty and dynamic complexity of the external environment have led to frequent and rapidly spreading supply chain disruptions. Improving. Environmental, Social, and Governance (ESG) ratings to stabilize supply chain customer relationships has gradually become a focal issue in business practice and theoretical research. However, existing literature lacks systematic theoretical insights into how improved ESG performance by industry benchmark firms enhances customer relationship stability. Drawing on signaling and dynamic competition theories, and using ESG rating data from Chinese A-share listed companies from 2013 to 2024, a fixed-effects model at the industry level was constructed to examine whether the industry spillover effect of benchmark firms’ improved ESG performance on customer relationship stability is positive or negative, and to analyze the underlying mechanism of this spillover effect. Results show that improved ESG performance by benchmark firms generates a positive industry spillover effect on customer relationship stability (0.1080). The mechanism involves benchmark firms driving industry-wide ESG rating improvements, thereby leading other firms to enhance product differentiation and strengthen corporate reputation to stabilize customer relationships. This positive spillover effect intensifies when firms perceive high external environmental uncertainty and possess strong dynamic capabilities. Furthermore, the positive spillover effect can lead to economic outcomes that reduce fluctuations in supply–demand volumes and relationships. The conclusions offer valuable insights for comprehensively advancing ESG implementation across industries, reinforcing the “chain leader” role of benchmark enterprises, stabilizing supply chain customer relationships, and balancing supply–demand dynamics.
Bridging Knowledge and Action: Understanding the Link between Sustainability Awareness and Consumption Habits among Lithuanian and Polish Students
This article examines sustainable consumption in the context of the Agenda 2030 Sustainable Development Goals (SDGs), with particular emphasis on Goal 12 related to sustainable consumption and production. The study aims to analyse the relationship between students’ awareness of sustainability and their actual consumption choices. Unlike much of the research that frames sustainable consumption primarily in a marketing context, this paper focuses on behavioural aspects of consumption. An empirical survey was conducted among 777 university students in Lithuania (n = 477) and Poland (n = 300). The questionnaire included 41 closed-ended statements grouped into five constructs: knowledge of sustainability, sustainable attitudes, sustainable behaviour, sustainable motivation for buying food, and sustainable motivation for buying clothes. Respondents rated the statements on a 5-point Likert scale. Data were analysed using descriptive statistics, reliability testing (Cronbach’s α), normalisation, and Spearman’s correlation analysis. The findings indicate that Polish respondents scored higher than Lithuanian respondents in knowledge, attitudes, and sustainable behaviour. Nevertheless, in both countries, sustainable motivation is weaker when making actual purchase decisions, particularly regarding clothing. Statistically significant moderate correlations were found between knowledge, attitudes, and behaviour, as well as between sustainable motivation to buy food and clothing. Interestingly, no correlation was observed between monthly income and sustainable motivations. The study highlights the gap between sustainability awareness and actual consumer practices. These results underline the importance of educational and policy initiatives that not only raise awareness but also translate it into concrete behavioural changes.
Impact of Environmental, Social and Governance Indicators – ESG on Automotive Corporate Sustainability
There has been a marked increase in stakeholder interest regarding the level of development of ESG criteria. This is reflected in the ESG score issued by various agencies. A high ESG score is associated with a company being more sustainable than another. It is imperative to analyse the relationship between different economic-financial variables of companies and their classification as a sustainable company. In this case, the objective is to analyse corporate financial sustainability in the automotive sector. For this purpose, a sample of 430 companies in the automotive sector was utilised. Different economic-financial variables corresponding to different dimensions such as liquidity, solvency, profitability and indebtedness were selected. Principal component analysis was used to condense the information provided by the different variables in each of the dimensions or factors. A stochastic Logit model is used to analyse the relationship between these factors and the financial sustainability of the companies. Conversely, the degree of financial sustainability, or financial sustainability index, can be determined by the coefficients of the Logit model transformed into an odds ratio. Consequently, the percentage variation in this index can be determined in the context of variations in each of the economic and financial factors. The findings indicate that, for this sector, an improvement in the ESG criteria means an increase in the financial sustainability index of around 72%. The factor related to solvency is also positively related. In this case, an improvement in the company’s solvency means a 30% increase in financial sustainability. On the other hand, an increase in the profitability factor leads to a 74% decrease in financial sustainability. Finally, an increase in indebtedness also leads to a 84% decrease in sustainability.
Impact of carbon revenue on EU gross domestic product
Carbon taxes motivate consumers to choose carbon-neutral or green options, such as energy-efficient technologies or renewable energy sources, which are considered environmentally safer compared to carbon-intensive alternatives. Carbon taxes encourage manufacturers to invest in cleaner production methods and technologies and to innovate. Today, more than 70 carbon dioxide pricing schemes are in place worldwide, but their contribution to emissions reduction remains a subject of intense debate in politics and science. Carbon dioxide pricing reduces greenhouse gas emissions, but its effectiveness depends on the context of implementation and policy. Not all schemes are equally efficient. The purpose of the study is to investigate the relation of carbon tax revenue and gross domestic product. The research problem and the gap in the literature arise because existing scientific work typically examines carbon dioxide pricing only as a means of reducing emissions or analyses the use of revenues for social or environmental programmes, but does not examine its influence on GDP, investment, or economic growth. Research objective: to investigate the impact of carbon taxation revenue on gross domestic product based on the consequences of carbon taxation analysis.
Major Socio-Economic Factors Influencing Environmental Concern. Study on Several European Union Countries
Our study aims to measure the environmental concern across some EU member states and to provide a better understanding of its determinants. Using data from the World Values Survey, there were firstly analysed the individual perceptions (care for environment, perspective on environmental pollution, protecting environment vs. economic growth), then active participation (membership in an environmental organization, financing ecological organization, participation in pro-environmental demonstration) and, lastly, integrating both in one general composite index. Our results showed that Poland, Romania, and Spain register the lowest levels of general environmental concern, while Sweden attains the highest level among the analysed EU countries. Although both Spain and Sweden are advanced economies, there are significant differences between their national general environmental concerns. Using the Binomial Logistic Regression, we found that the position of an individual highly concerned with environmental problems is mainly influenced by (1) age, nature of tasks, post-materialist values, and satisfaction in life in Sweden, while, (2) in Spain, the most important determinants are educational level and post-materialist values. Accordingly, our findings might support better-targeted EU and national environmental policies.
Hybrid Decision Making Model-Unitising for the Analysis of Competitive Intelligence, Green Marketing and Green Purchase Intention in the Pursuit of Sustainability
With intensifying global competition and increased consumer desire for sustainable products, organisations must now incorporate competitive intelligence, green marketing, and green purchase intentions into a simultaneous process involving multiple criteria decision-making (MCDM). Most research on this topic has investigated one of these factors at a time and no model has been developed to demonstrate their congruent relationship in a fuzzy decision-making process. This lack of an integrated model does not allow for a full examination of these factors regarding sustainability and sustained competitive advantage. In this research, an integrated approach that employs fuzzy multi-criteria decision-making (FMCDM) techniques to assess and rank sustainability strategies is proposed. The fuzzy Delphi technique was employed to determine 24 criteria grouped across four dimensions competitive intelligence, green marketing, green purchase intention and sustainability and validate that with identified experts. Then, the criteria were employed in the analysis of four strategic alternatives: supply chain transparency, value-based green marketing, reduction of resource consumption, and investment in green innovation which were analysed within three FMCDM methods SECA, COCOSO and MARCOS. The robustness of results was confirmed through sensitivity analysis and cross-method comparison. Findings indicate that that investing in green innovation is the most effective strategy for increasing brand value and reducing environmental impact. Supply chain transparency and resource consumption reduction are next in priority. Raising the importance of green purchase intention emphasises supply chain transparency. The model offers managers a practical framework to prioritise sustainability strategies amid market uncertainties, and companies like P&G can use it to boost green initiatives and customer loyalty.
Reviewed book: Asta MIKALAUSKIENE, Dalia STREIMIKIENE, Ignas MIKALAUSKAS (2026), Climate Change and Responsible Consumption: From Crisis to Conscious Consumer Choices, Springer Cham, 252 p.