This paper aims to identify the effect of leverage on profitability in Vietnam's listed real estate firms during 2020-2024, a period marked by tightening credit conditions, refinancing pressure, and elevated financial constraints. Specifically, the study evaluates whether leverage improves or weakens return on assets (ROA) after controlling for capital expenditure, revenue growth, liquidity, firm size, and firm age. Using audited financial statements of 59 listed firms, the analysis first employs fixed-effects and random-effects models as benchmark estimators and then applies feasible generalized least squares (FGLS) and the system generalized method of moments (system GMM) to address heteroskedasticity, profitability persistence, and potential endogeneity. The novelty of this paper is threefold. First, it provides updated evidence from Vietnam's listed real estate sector, which has faced substantial financing pressure in recent years but remains insufficiently explored in the leverage-performance literature. Second, the study goes beyond conventional static panel estimation by combining static and dynamic approaches, thereby showing whether the leverage effect remains robust after accounting for persistence and endogeneity. Third, it offers sector-specific evidence from an emerging market where debt financing plays a central role in corporate operations. The findings show that leverage is positively associated with ROA across the main specifications, although the estimated effects of other firm-level determinants vary by model.
Corporate Social Responsibility (CSR) is an innovative approach to creating value for stakeholders by fostering strong relationships. There has been increasing interest in exploring the impact of CSR on employee attitudes and behavior. This paper evaluates the influence of CSR on employee commitment and performance in Portuguese companies through the lens of Social Identity Theory. A questionnaire survey of 278 Portuguese employees was conducted, and the Partial Least Squares method was used for analysis. The findings suggest that CSR practices positively affect both employee commitment and performance. Moreover, employee commitment is positively linked to performance. Therefore, organizations that adopt more CSR practices are likely to see increased employee commitment, which in turn enhances performance. This study contributes to CSR and social identity theory literature and offers practical recommendations for companies, policymakers, and HR professionals, urging organizations to reassess their CSR practices.
This study aims to investigate the impact of artificial intelligence (AI)-based customer segmentation on marketing personalisation, focusing on the mediating role of perceived segment quality and the moderating effect of customer data quality. It addresses a gap in the literature by examining how AI-driven segmentation interacts with customer data quality to influence personalisation effectiveness in the consulting sector, a context seldom explored in prior studies. Targeting CRM managers in Moroccan consulting firms, data were collected via an online questionnaire in August 2024. Statistical analyses were conducted using Python, employing multiple linear regression and mediation-moderation models. The results indicate that AI-driven segmentation significantly enhances marketing personalisation, with perceived segment quality acting as a key mediator. Furthermore, high-quality customer data, encompassing accuracy, timeliness, completeness, and consistency, strengthens this relationship. These findings provide practical insights for CRM managers seeking to optimise personalised marketing strategies and advance data-driven marketing in environments.
The aim of this article was to identify a conceptual network in the research area of artificial intelligence (AI) and trust (TR). The growing autonomy of AI systems and their impact on business decisions and organizational relationships are leading to increased interest in the issue of building trust in human-technology relationships. Trust in AI is multidimensional-it encompasses both cognitive and emotional aspects, and its level depends on the context of application, the degree of automation, and user experience. The article conducts a bibliometric analysis of literature from the Scopus database in the field of Business, Management, and Accounting, taking into account performance analysis and science mapping. The VOSviewer tool was used to identify thematic structures. A novel feature of the study is the comprehensive identification of the conceptual network in the area of trust in artificial intelligence (AI and TR) in the context of management sciences, including an analysis of 730 publications from the Scopus database and the identification of key directions for research development-from trust in generative AI to issues of ethics and anthropomorphism in human-technology relations. The results of the analysis made it possible to assess the intensity of research, identify dominant research themes, and directions of development in the literature on AI and TR.
Industry 4.0 holds great potential across sectors, influencing the entire value chain by streamlining production, enhancing product and service quality, and transforming organizational structures and labor markets. The readiness to implement modern technologies varies depending on company size-large enterprises, supported by substantial resources, pursue comprehensive digital transformations. In contrast, small and medium-sized enterprises (SMEs) exhibit greater adaptability but face financial and organizational constraints. The study aimed to verify the dependence between selected benefits of Industry 4.0 implementation and company size. The research was based on a survey conducted among Polish enterprises, excluding microenterprises and inactive entities. Respondents assessed the perceived impact of Industry 4.0 technologies on different operational areas using a five-point Likert scale. The effect of company size on the formation of companies' business potential was evaluated using the chi-square ((chi)2) independence test, which was based on the assessment of the highest reliability (N-W). The findings revealed no statistically significant relationship between company size and the perceived potential of Industry 4.0 in three key areas: economic performance (profitability, cost reduction), market outcomes (customer satisfaction, product customization, competitiveness), and process efficiency (productivity, innovation, flexibility). Despite the lack of statistical significance, certain trends were noted: medium-sized companies more often indicated improvements in process efficiency and innovation, whereas large enterprises emphasized cost reduction and profitability increases. These results suggest that the benefits of Industry 4.0 adoption depend more on strategic orientation than on enterprise size. However, the research conducted allowed us to identify some factors that may provide incentives for companies to apply Industry 4.0 solutions.
This paper analyses the fiscal sustainability of European Union member states during the period 2015-2024 by applying three core indicators (S0, S1, and S2) published by the European Commission, which capture short-, medium-, and long-term risks. The study combines descriptive analysis, trend assessment, principal component analysis (PCA), and the construction of a synthetic fiscal sustainability index. This multidimensional approach allows us to identify systematic differences among countries, to evaluate their trajectories over two sub-periods (2015-2018 and 2019-2024), and to assess the impact of the COVID-19 pandemic and the energy crisis on fiscal positions. The findings reveal that while shortterm risks remain relatively stable across the EU, medium-and long-term risks diverge significantly, with Slovakia, Hungary, and Romania among the most vulnerable, and Nordic countries and Germany maintaining stable positions. The proposed index complements PCA and offers policymakers a transparent tool for identifying high-risk countries. The novelty of the study lies in integrating PCA on both levels and trends of S0-S2 with a newly developed synthetic index, enabling a more nuanced detection of fiscal sustainability trajectories before and after the pandemic.
This study explores Generation Z's preferences regarding education, teamwork, and values in the Slovak context, with a particular focus on gender and employment status. The aim is to identify patterns in attitudes toward lifelong learning, collaborative work styles, and life priorities that carry direct implications for human resource management and organizational strategy. A survey of 318 Gen Z respondents was conducted using an 18-question electronic questionnaire. Chi-square and correspondence analyses were applied to examine relationships between gender, work status, and key attitudes. Results show no significant gender differences in the desire for further education, but females tend to prefer autonomy over teamwork. Students emphasize education and self-development, while employed individuals prioritize career and family. The novelty of the study lies in its regional focus and its integration of both gender and employment variables into the analysis, offering practical insights for management practitioners seeking to align workplace environments with Gen Z's evolving expectations. The findings provide insights that can guide human resource managers in designing effective strategies for workforce engagement and development.
As organizations increasingly embrace the role of social media influencers in their strategies, the aim of the study was to investigate the aspect of how one attribute of an influencer affects residents' hotel booking decisions. Using the Theory of Planned Behavior, this study has investigated the effects of concurrence with those from hotel attributes-influencer credibility, authenticity and relatability-on booking intentions and choices of consumers. A quantitative research design was used, relying on primary data collected from hotel guests. To analyze the relationships among variables, structural equation modelling was applied and confirmatory factor analysis was conducted to validate the measurement model. The results showed that booking decisions are significantly positively influenced by the three attributes of influencers, including credibility, authenticity, and relativity to some perceived hotel features. From a management perspective, the study underscores the importance of the core management functions-planning, organizing, leading, and controlling that may play an important role in the strategic coordination of the influencer task, that helps in developing hotels' plan for an activity of influencer collaboration, organizing the available resources in such a way that the message of the influencer matches the service quality provided. This therefore creates a communication forum which would enhance trust among the stakeholders, and lastly controlling the means of evaluating success by the continuous assessment of the effectiveness of influencers from both the hotel management and the feedback of the guests by laying relevant conclusions. The study recommends that hotels should partner with reliable and niche-quality influencers who have good reputations in their fields.
This article makes an innovative contribution to research on organisational behaviour by analysing the perception and functioning of appreciative discourse in everyday professional practice. The theoretical approach is based on humanistic and positive psychology and on the main assumptions of appreciative discourse, which focus on recognising and reinforcing what works well in an organisation rather than focusing on shortcomings and problems. The starting point was the individual experiences of employees related to being appreciated. Practices of appreciation rooted in organisational culture were analysed: how they are expressed, in what circumstances they occur, and what meaning participants in professional life attach to them. The study was conducted using a qualitative method, employing semi-structured, informal interviews with people working in various sectors. The results of the study show that appreciation, regardless of its form, significantly strengthens employee motivation, increases their commitment and willingness to cooperate and share knowledge. Leaders play a key role in promoting appreciation. Through authentic and systematic practices, they strengthen the culture of recognition and influence positive relationships and employees' identification with the organisation. Furthermore, research indicates that appreciation is deeply rooted in interpersonal relationships and largely dependent on the atmosphere within the team, leadership style and the level of trust between colleagues.
The shift to circular economy models demands consolidated evidence on reusable plastic packaging (RPP), especially reusable plastic crates (RPCs). The purpose of this paper is to map and review scientific literature that comprises reusable plastic packaging with emphasis on reusable plastic crates (RPCs) to show what has been studied, how themes connect, and where the gaps are. A bibliometric review was conducted on the Scopus database. An advanced search was performed using the title, abstract and keywords. Following de-duplication and screening for topical relevance, language (English) and document type (articles and reviews), 205 documents from 2000 to 2025 were retained. Maps were generated in VOSviewer using association-strength normalization and full counting, and spelling variants were harmonized via a thesaurus. With a keyword threshold >= 5 (N=79), five clusters were identified relating to supply-chain sustainability, consumer behaviour, waste/recycling, life-cycle assessment (LCA), and policy. Density and Average Publication Year (APY) overlay analyses indicated core emphases on sustainability and LCA, and recent growth was observed in consumer behaviour, e-commerce, and decision-making after 2018. Co-authorship networks were found to be fragmented. A map and a research agenda are provided, focusing on behaviour-operations integration, decision support, digital governance and regions that have been understudied. To date, no field-level, supply-chain-focused bibliometric map of reusable plastic crates integrating keyword co-occurrence, APY overlays, and co-authorship networks has been available; this gap is addressed by this study.
This study aims to examine the role of strategic human resource management (SHRM) in enhancing organizational performance through innovation capability in the micro, small, and medium enterprises (MSME) sector. MSMEs are expected to optimize their business potential and survive amidst global economic challenges by understanding SHRM best practices. This research employs a mixed methods approach. This study using literature review of 57 sources and bibliometric analysis using VOSviewer. The quantitative analysis is based on data collected from 265 purposively sampled MSMEs. PLS-SEM using SmartPLS 3.0. The findings reveal that HRM strategies significantly and positively influence organizational performance, especially when integrated with innovation capability. Moreover, both innovation capacity and human capital emerge as equally important pillars when MSMEs align their human resource practices with innovation capability, they can improve performance, adapt to changing conditions, and contribute more effectively to regional economic development. By integrating bibliometric mapping with empirical PLS-SEM analysis, this study delivers novelty by offering a dual-perspective assessment of SHRM's strategic role in MSMEs through innovative capability.
This study aims to examine the effect of competitive intensity on competitive advantage, with innovation strategy as a mediating variable among micro, small, and medium enterprises (MSMEs) in Bali. A total of 190 MSMEs were selected using proportional simple random sampling method. The data were analyzed using path analysis to test both direct and indirect effects among variables. The results reveal that competitive intensity does not have a significant direct effect on competitive advantage. However, innovation strategy shows a positive and significant impact on enhancing competitive advantage. Furthermore, competitive intensity positively and significantly influences innovation strategy, suggesting that competitive pressure encourages MSMEs to innovate. The findings also confirm that innovation strategy mediates the relationship between competitive intensity and competitive advantage. This study offers a novel insight by identifying innovation strategy as a key adaptive mechanism for managing competitive pressure and achieving sustainable competitive advantage among micro, small, and medium enterprises (MSMEs).
This study aims to understand the current state of the debate on Metaverse approaches from the perspective of management practitioners to establish challenges for business education. A novel and systematic methodology was proposed, combining bibliometric analysis, content analysis, and exploratory text mining of expert interviews. This approach led to the metaverse's first iteration, 1.0, which was refined into version 2.0 through qualitative insights. Findings highlight that business discourse on the metaverse centres on education, practical applications, research, dissemination, and integration with Industry 4.0. The study emphasizes the importance of comprehensive training, a deeper understanding, and dedicated research in addressing emerging technological challenges in management education. By comparing the metaverse with other technologies, valuable insights emerge to guide its adoption in education. This research provides a structured understanding of the metaverse, offering a foundation for its integration into business education and productive schemes.
The purpose of this paper is to evaluate the effectiveness of the transport process in a selected manufacturing company using methods of multidimensional statistical analysis. The study applied the linear ordering method to a set of transport efficiency indicators observed over the period 2015-2024. The analysis included variables such as transport flexibility, transport costs per kilometer, transport costs per transport, degree of utilization of transport means, failure rate of vehicles, and the number of kilometers per vehicle. These variables were used to construct a synthetic development measure reflecting the efficiency level of the transport process. The results of the analysis made it possible to rank the examined years in terms of transport process efficiency and to identify the key areas requiring improvement. The highest efficiency was recorded in 2017, while the remaining years showed moderate values of the development measure, indicating the need for optimization. The study demonstrated that multidimensional statistical methods can be effectively used to support managerial decisions in the field of transport management, particularly in identifying cost drivers and performance gaps. The findings also highlight the potential of using process management tools, driver training, and transport service outsourcing to enhance operational efficiency. The application of multidimensional analysis provides a quantitative basis for continuous improvement of transport processes and supports the development of data-driven strategies aimed at improving competitiveness in manufacturing enterprises.
This study investigates how digital transformation (DT) shapes supply chain (SC) capabilities in Moroccan firms by assessing their digital maturity (DM) and sectoral differences. Using the Rossmann and Reutlingen (2018) framework, data were collected from 234 companies through a mixed-mode survey and analyzed using K-means clustering, which classified firms into four distinct maturity clusters. Results reveal heterogeneous trajectories. In fact, some companies show advanced alignment between strategy, governance, and technology, while others face barriers related to leadership, cultural resistance, or limited resources. The findings highlight that DT is not limited to technological adoption but requires integration of human expertise, organizational culture, and governance. However, the purposive sampling, reliance on self-reported data, and cross-sectional design limit statistical generalization and temporal insights, while the Moroccan focus restricts external validity. Despite these boundaries, the study is original in offering one of the first empirical mappings of SC DM in an emerging economy, demonstrating that maturity is a negotiated and context-sensitive process, thereby providing valuable implications for both scholars and practitioners seeking to enhance SC competitiveness through digitalization.
The paper analyses emotional reactions to advertising spots in the context of ecommerce, measured using the FaceReader software as a neuromarketing research tool. In the pharmaceutical industry, research on advertising effectiveness rarely employs neuromarketing techniques; this study addresses this gap by applying automated facial advertisements. The paper aims to examine viewers' emotional responses to selected advertising spots of pharmaceutical companies operating in online sales. Using the automated facial expression analysis AFFDEX, the intensities of positive (joy, smile) and negative (anger, sadness) emotions were recorded while watching four video spots. Although the descriptive analysis pointed to differences in emotional intensity between individual spots, statistical testing (Kruskal-Wallis test and Dunn's post-hoc test) did not prove these differences statistically significant, however, the relationship between the level of negative emotions and the frequency of watching advertisements has been partially confirmed. The findings indicate the need for a deeper qualitative analysis to gain a more comprehensive understanding of the emotional response to advertising spots in the e-commerce environment.
This empirical study addresses a notable gap in the literature by investigating the determinants of short-term financing within the context of an emerging economy, Bangladesh. This research aims to investigate how key financial metrics, such as ROA, NPM, Bangladesh. A cross-sectional analysis of 104 enterprises listed on the Dhaka Stock Exchange (DSE) (from a population of 280) was conducted using data from their annual reports. The analysis reveals that ROA and NPM have a positive influence on short-term financing decisions, suggesting that enterprises with stronger profitability are better positioned to access short-term debt. Conversely, Tangibility exhibits a negative relationship with shortterm financing, implying that enterprises with higher tangible assets may encounter difficulties in securing short-term loans due to their reliance on long-term debt. Enterprise size also shows a positive correlation with short-term financing, while sales growth does not significantly impact financing decisions. These insights are crucial for financial managers and policymakers in emerging markets, as they underscore the need for tailored financial strategies that enhance liquidity management and support sustainable growth in capitalintensive industries, such as the corporate sector. The study adds to the existing literature by providing empirical evidence on these financial dynamics, with broader implications for other emerging markets.
This study examines how various dimensions of organizational culture (OC), such as involvement, adaptability, mission, and consistency, affect organizational performance (OP). Quantitative analysis was conducted to examine the relationship between OC and OP. The sample consisted of 324 employees from 14 banks in Kurdistan. The research findings confirm the importance of OC in improving OP in the banking industry. An organization's mission is the most crucial factor in predicting OP, followed by involvement, consistency, and adaptability. The study's practical implications highlight the positive effects of implementing the Denison Model of OC in banks, including improved employee performance across internal business operations, learning and development, and customer satisfaction. This research contributes to the literature by clarifying how the Denison model facilitates performance enhancement. It provides additional evidence of the significant role that a mission-driven culture plays in strengthening performance improvement and underscores the benefits of fostering a stronger emphasis on this model to achieve more sustainable results.
