This study examines how effective the Dogs of the Dow (DoD) investment strategy, popular in the USA, was for the Polish blue-chip stock market between 2002-2023. This strategy involves investing the same amount of funds each year in shares of ten companies called Dogs of Dow with the highest dividend yield. The portfolio is then retuned every year - companies that do not meet the aforementioned criterion are removed, and new ones are added. For the entire research period, raw and risk-adjusted annual and five-year rates of return were determined for 10- and 5-component portfolios, taking into account transaction costs and dividend tax. Although both the DoD (YD10) and Puppies of the Dow (YD5) portfolios exceeded the average annual rate of return for the entire research period, it cannot be unequivocally stated that it is an effective and long-term method of beating the market. Neither the one-year nor the multi-period portfolios achieved positive abnormal returns consistently and systematically. Moreover, in most portfolios, the differences between portfolio and index returns were not statistically significant. Similarly, as in some foreign markets, the effectiveness of DoD strategies was higher in the first half of the research period (2002-2011), and declined over time. On the Polish market, as in other foreign markets, it was observed that 5-component portfolios (less diversified portfolios) generated higher returns than 10-component portfolios. The analysis of the effectiveness of the DoD during bull and bear market periods does not allow for a clear conclusion that during downturns this strategy allowed investors to limit their losses relative to the benchmark. Concluding the conducted research, it should be stated that there are no solid grounds to consider this strategy effective on the Polish market for the 2002-2023 period.
The migration activity of students as one of the important factors of changes in the intellectual potential and economic development of countries requires a constant search for the causes and pull factors. To this end, our study analyses the impact of higher education quality factors. For this aim we analyse the impact of 15 factors, including efforts to develop technologies penetration via R&D cooperation of universities with business entities, ability of universities to meet the needs of a competitive economy, focus on STEM tertiary education. Using the data for 2023 on the example of OECD countries and applying the methods of correlation and cluster analysis, we confirmed the hypotheses about the greatest importance of such factors as Tertiary education expenditure, Average quality of higher education institutions, QS university ranking (top 3), Relevance of education system to the economy, University-industry R&D cooperation. Therefore, current management of higher education aiming at attracting talented youth should combine traditional technologies of quality assurance with agile reaction to changing economic and societal needs. The experience of a successful cluster of leading countries in attracting talents proves the importance of building strategies for the development of higher education systems based on the development of such factors.
The interest in consumer attitudes and role in economic and social life becomes increasingly evident among the representatives of economic sciences and has become a focal point in the financial industry. This issue is not only important for financial institutions in terms of building long-term relationships with customers, but also in terms of maintaining the stability of the financial system and the entire economy. The aim of the article is to assess the relationship between the satisfaction with the bank's products and the customer trust in the bank, considering sociodemographic characteristics and credit profile. Nonparametric tests such as MannWitney U test and Kruskal-Wallis H test, and the ordinal logistic regression model were used as research methods. The study was conducted based on information obtained from a survey questionnaire (CAWI method) provided to the respondents in June and July 2022. The research sample included borrowers living in Poland, aged 18 or older, with housing loans secured by a mortgage. The study found that there is a strong positive relationship between the satisfaction with bank's products and the customer's trust in the bank, meaning that satisfaction translates positively into the trust in the bank, which is important for earning and maintaining customer loyalty.
Currently, both men and women face the challenge of balancing their work and childcare responsibilities, which is not always straightforward. When individuals experience tensions between their work and family life, they are likely to prioritize one over the other, often facing penalties for failing to fulfill a specific role. Thus, the present study aims to examine how people evaluate workers who briefly de-prioritize work or childcare. To achieve this, two experiments were conducted using factorial vignettes. The first experiment examined how briefly de-prioritizing childcare affects an individual's perception in the family domain, considering their gender. The second explored the opposite effect: how briefly de-prioritizing work influences the evaluation of the worker in the workplace, also incorporating gender as a variable. Study 1 had 262 participants and study 2 had 251. Participants were Business students in a private university. To test the hypotheses, each dependent variable was analyzed using a multiple independent group mean comparison. The results showed that even a slight de-prioritization of a role can trigger a perceptible reaction. In the family domain, a positive effect was observed for men when they prioritized their family. Each of the studies showed interesting results for implementing strategies that help workers harmonize their work and life without being penalized when briefly prioritizing one of them.
This research aimed to: (a) analyze the influence of strategic management accounting information on business strategy, competitiveness, and sustainable performance; (b) investigate the role of mediating variables on business strategy and competitiveness, and (c) study the role of moderating variables on organizational learning capability and competitive culture. The sample comprised 200 companies listed on the Stock Exchange of Thailand. The research methodology employed structural equation modeling to test direct and mediating influences and hierarchical multiple regression analysis to test moderating influence. The findings of the study revealed that all aspects of strategic management accounting information, except for environmental scanning, had a positive impact on business strategy. Market intelligence had a positive influence on competitiveness, while technology intelligence had a positive impact on sustainable performance. The research also found that business strategy had a mediating influence on strategic management accounting information in the areas of technology intelligence, market intelligence, and forward-looking information, which in turn affected organizational competitiveness. Additionally, organizational competitiveness had a mediating impact on market intelligence and sustainable performance. Furthermore, the study revealed that organizational learning capability and competitive culture played a moderating role in organizational competitiveness and sustainable performance.
This study aimed to investigate the 79 double taxation treaties that T & uuml;rkiye has signed with various countries and provide empirical evidence of asymmetries among them. The study also highlighted the importance of neutrality in international tax policy; examined the asymmetries caused by varying definitions of concepts and withholding tax rates; and revealed the necessity of BEPS MLI for T & uuml;rkiye. To conduct this analysis, the treaties were clustered according to six characteristics: (a) taxes covered by the treaty, (b) definition of permanent establishment, (c) definition of royalties, (d) withholding rates of dividends, (e) withholding rates of interests, and (f) withholding rates of royalties. Using both K-means clustering with the elbow method and a two-step clustering analysis, the results revealed substantial asymmetries among T & uuml;rkiye's double taxation treaties across these six characteristics. The results should be of particular interest to policymakers and other stakeholders interested in developing treaty standardization protocols.
A business not only seeks opportunities and profits but also must help ensure a reasonable life for its employees. Only then can we develop sustainably, and applying corporate social responsibility will help businesses do better and provide and prove to customers and society that companies are responsible to workers and the environment. Therefore, the study aims to determine how critical corporate social responsibility factors affect job satisfaction, work motivation, and employee commitment and propose ways to help businesses develop appropriate business strategies for tourism enterprises in Vietnam. Based on the study goal, the methodology used in the study is to survey 900 employees working at 30 tourism enterprises in 3 provinces and 2 cities in Vietnam. The article applies structural equation modeling to explore five critical factors of corporate social responsibility and uses results to help tourism enterprises maintain workers. The main results showed thatfive crucial corporate social responsibility factors affected job satisfaction, work motivation, and employee commitment, including labor relations, work-life balance, dialogue, safety and health, training and development. Finally, the study's contributions proposed five suitable policy recommendations for enhancing job satisfaction, work motivation, and employee commitment in Vietnam's tourism enterprises.
Despite the potential of AI to revolutionize product creation and service delivery, a lack of consumer trust could significantly, hinder its adoption and utility. This research explores how transparency, simplicity, familiarity, and authenticity collectively impact consumer trust in AI-created products, which includes both goods and services. AI-created products refer to those in which artificial intelligence systems play a critical role in design, manufacturing, or decision-making processes. This study collected, data from 504 respondents which were then analysed through partial least square-structural equational modelling, (PLS-SEM).The results indicate that higher levels of transparency about AI involvement directly correlate with increased consumer trust. Conversely, increased product complexity is found to negatively affect trust. While greater consumer familiarity with AI positively, impacts trust levels. Furthermore, the perceived authenticity, of AI-generated content significantly enhances consumer trust. Each of these findings contribute to a greater understanding of the variables influencing consumer, trust in AI-created goods. For policymakers, the importance of establishing clear guidelines on AI transparency, and authenticity is underscored, potentially through the introduction of, standardized labelling for AI-created products. For practitioners, the results highlight the need for simplifying AI technologies and enhancing consumer familiarity through education and engagement strategies. The theoretical contribution of the study lies in its holistic examination of factors, influencing consumer trust in AI-created goods, filling a significant gap in existing literature. By integrating, multiple variables into a single conceptual framework, this research provides, valuable insights into the dynamics of consumer trust in context of AI integration.
This article examines the relationship between Donald Trump's presidential campaign narratives and the underlying economic realities they portray. Focusing on three campaign cycles from 2016, 2020 to 2024, the study juxtaposes Trump's audiovisual messaging on job outsourcing, reshoring, and economic decline with empirical data on employment trends, trade policy outcomes, and macroeconomic indicators. Drawing on data from the Bureau of Labor Statistics (BLS), Bureau of Economic Analysis (BEA), Congressional Budget Office (CBO), and peer-reviewed economic research, the article evaluates the extent to which Trump's claims align with measurable economic outcomes. The analysis finds that while Trump successfully mobilized public concern around outsourcing and industrial decline, much of the job loss predated his political rise, and economic recovery narratives often overlooked the role of bipartisan stimulus and global trends. The study further contrasts Trump's criticism of "Bidenomics" with the post-2021 resurgence of domestic manufacturing investment driven by targeted industrial policy. Integrating campaign communication theory with economic analysis, this research contributes to understanding how populist narratives intersect with data-driven policy realities.
The General Data Protection Law (LGPD, initials of the words in Portuguese) aims to safeguard the basic right to privacy and personal freedom, as well as the formation of the personal freedom of each. The primary objective of this investigation is to examine how a group of LGPD consultants applies the theoretical framework of privacy calculation to inform privacy decisions. The investigation was intended to measure the direct relationships of the privacy calculation in the financial sector, and the survey is attempting to determine the perceived threat and expected quality of care. Hypotheses were significant, but regarding personal data, as it is considered important and personal, they are cautious and unwilling to disclose this data to any company, even if there is a benefit or an unfavorable financial situation. Respondents are reluctant to disclose their personal data to trusted companies, such as banks, to receive benefits.
This study examines how Hofstede's cultural dimensions explain cooperatives' tendency to embrace innovative sustainable social economy projects. The study employs a quantitative cross-sectional design using a standardized survey of 499 Spanish cooperatives with no record of implementing such projects. The results suggest that collectivism, long-term orientation, and high power distance strongly predict cooperatives' willingness to adopt innovative sustainable social economy projects. Cluster analysis reveals two cultural profiles of cooperatives. Cooperatives in the cluster defined by collectivism, long-term vision, and low uncertainty avoidance appear to have the highest adoption propensity. This finding demonstrates that Hofstede's cultural dimensions theory offers a powerful framework to explain cooperatives' adoption of innovation- and sustainability-oriented social economy projects, even though the effects of masculinity and indulgence appear to be weak or nonsignificant. A major implication of this research is therefore that cultural dimensions should be considered in policy design and cooperative support programs. This research extends the scope of application of Hofstede's cultural dimensions theory to the social economy, specifically innovation in cooperatives. It also demonstrates that culturally relevant interventions boost the effectiveness of sustainability-oriented programs. Future research should study longitudinal data sets and qualitative data to develop a more comprehensive understanding of the phenomena discussed in this paper.
In many countries which undergone an economic transition from centrally planned to market economy in Europe, the state old-age pension is the main source of income in retirement. However, replacement rates from public pension schemes have been decreasing. Therefore, supplementary savings for seniors are needed to provide an acceptable standard of living during retirement. We examine the usage of financial products supplementing retirement income of seniors aged 65+ depending on the period of retirement, the financial situation before retirement and socioeconomic status. We use data from the survey carried out in 2018 on the representative sample of Polish seniors aged 65+ for whose households the state old-age pension is the main source of income (1,336 retirees). Logistic regression was performed to study how socioeconomic status, the period of retirement and subjective level of satisfaction with expenses in the preretirement period influenced the likelihood of using financial products (general model) and specific financial products (separate models) for retirement purposes.The general logistic model showed thatfactors such as a higher level of education, non-dependent work increased chances for using financial products. There are differences between seniors who used particular financial products, derived from separate regression models. A higher likelihood of possessing life insurance products characterized those who performed employment contracts, who used early retirement and retired between 2009-2018. The highest chances for utilizing capital market instruments were those with a higher level of education and performing non-dependent work. The outcomes of the research show that usage of financial products among seniors in Poland is growing and becoming more diversified but still is moderate.
Consumer boycotts are vital tools for shaping corporate and socio-political landscapes. Despite extensive research, the influence of individual and sociocultural factors on boycott participation across diverse European nations remains unclear. This study addresses this gap by applying machine learning techniques, such as decision trees and gradient boosting, to data from 24 countries in the European Social Survey. The analysis identifies civic activities, including petition signing and volunteering, as key drivers of consumer boycott participation, alongside political interest, environmental concern, and Internet usage. It also reveals complex interactions with age, religiosity, and national context. By integrating AI into consumer activism research, the study enhances predictive accuracy and deepens the theoretical understanding of political and civic behavior dynamics. Understanding the predictors of consumer boycotts can help policymakers and organizations design more effective strategies for addressing civic demands, potentially influencing market responses to consumer activism.
Artificial intelligence (AI) has become a transformative force across industries, including advertising, where its integration reshapes the creation and delivery of advertising messages. This paper explores the relationship between the perception of advertising creation and the integration of AI, focusing on Generation Z in Poland. As digital natives, Gen Z is a pivotal demographic in understanding how AI-generated advertising impacts audience engagement and trust. The study reveals that while young Polish consumers are aware of AI-generated advertisements, they exhibit a cautious perspective. They acknowledge the creative potential and technological sophistication of such advertisements but express concerns about their credibility and potential for manipulation. Despite these reservations, respondents anticipate the continued growth of AI-generated advertising, suggesting that it may eventually rival or replace traditional advertising formats. These findings contribute to a nuanced understanding of Generation Z's attitudes toward AI-driven technologies in marketing, highlighting the need for transparency, creativity, and ethical considerations in leveraging AI for advertising. The study offers valuable insights for advertisers aiming to build trust and engagement with a demographic that values innovation but remains discerning about its applications.
This paper explores the climate change performance of the Baltic States-Estonia, Latvia, and Lithuania- through the lens of global climate indices, with particular emphasis on the Climate Change Performance Index (CCPI). As EU member states, the Baltic countries are subject to increasingly ambitious climate and energy policies driven by the European Green Deal and the Fit for 55 package. Based on analysis of climate performance indicators and other composite indexes, this study assesses the methodological approaches to climate change performance measurement and applies these tools to evaluate the Baltic States. Comparative analysis with indices such as the CCPI, the Environmental Performance Index (EPI), the Transition Performance Index view of both climate change mitigation policy effectiveness and climate vulnerability. The findings highlight the region's relatively favorable climate policy performance, driven by proactive renewable energy and GHG emissions reduction strategies, while underscoring the need for ongoing adaptation measures.
China's robust economic growth serves as a key driver propelling the global economyforward. As such, understanding the factors influencing its sustainable economic growth remains a critical concern for stakeholders. In this context, this study aims to investigate the key determinants of China's sustainable economic growth. Specifically, it examines the effect of environmental quality, institutional quality and financial development on sustainability in the Chinese context. To achieve this, the study employs a range of econometric analyses, including Ordinary Least Square (OLS), Generalized Method of Moments (GMM), and Quantile Regression (QR), using data spanning 2002 to 2019.The empirical findings reveal that environmental quality, institutional quality and financial development significantly contribute to China's sustainable economic growth. Additionally, the interaction effects of the institutional environment provide nuanced insights into the relationship. This study offers valuable implications for policymakers, highlighting the need to prioritize impactful financial inclusion over mere financial sector expansion, alongside focusing on other growth-enhancing initiatives. This study contributes to the body of knowledge by providing empirical evidence of the interaction effect of the institutional environment within this framework.
The study aims to study the role of leadership in innovative development, including opportunities arising from the attractiveness of countries for intellectual migrants. The novelty of the research is in justifying the authors' approach to assessing leadership development at the macroeconomic level and its use for defining the peculiarities of leadership development in the EU and assessing the links with of innovative development and attraction of countries for intellectual migrants. Considering leadership as an important feature of the macroeconomic environment for countries' development, the correlation analysis was used to test hypotheses about the positive impact of leadership on (a) the attractiveness of countries for intellectual migrants; (b) the innovative development of countries. The resulting pairwise correlation coefficients for the EU show a strong relationship between the level of leadership and a country's ability to attract (0.776) and retain talent (0.846), attract highly educated workers (0.757) and foreign entrepreneurs (0.780). A positive impact of leadership on innovative development is confirmed by the links with the overall value of the Global Innovation Index (0.825), the Growth of innovative companies (0.768) and the Entrepreneurial employee activity rate (0.599).The obtained findings prove the importance of leadership development as an important driver of talent attraction and the generation of innovative ideas.
The economy's growth contributes to the general development of social life but also severely impacts the environment. Since many countries worldwide are moving towards green growth, credit policies to serve green growth goals play a critical role. Many countries with different levels of development globally have pursued green credit policies, becoming a common development trend and an essential component of countries' sustainable development strategies. The use of green credit enables the bank to mitigate environmental and social risks associated with its commercial operations. Vietnam is slowly adopting this trend, but it still encounters several challenges and requires effective solutions to further stimulate this influx of capital. Thus, the article explores factors influencing Vietnam's green credit development and economic growth. This research applied the structural equation model (SEM) from surveying 750 commercial bank managers and collected it by convenient sampling. The data collection period was from September 2021 to December 2021. The study employed several methodologies to assess the dependability of Cronbach's alpha, exploratory factor analysis (EFA), confirmatory factor analysis (CFA), and structural equation modeling (SEM) in order to evaluate the research hypotheses. The findings indicate that three factors have a significant impact, at a level of 1.0 percent, on the development of green credit and economic growth. Finally, the article novelty had several policy recommendations for developing green credit and economic growth in Vietnam.
Despite extensive academic research on the market capitalization implication of corporate tax aggressiveness in developed markets, papers examining this causal relationship in emerging markets are few and far between. The present article aims to contribute to the extant literature by investigating the impact of corporate tax avoidance on market value in Vietnam. The data sample includes nearly 7,400 firm-year observations from 2009 to 2023. Regression analysis with panel data is employed to assess the influence of corporate tax aggressiveness on firm value of Vietnamese listed firm. Empirical results show that corporate tax avoidance inhibits market value of listed firms. On average, the market capitalization would decrease by around 0.13% if the effective tax rate increases by 1%. Furthermore, financial leverage, firm size, and profitability have significant impacts on firm value. As a result, we propose several recommendations for the Vietnamese government to control tax-aggressive activities and build effective tax administration in the future.
Telework has gained significant relevance in recent years; however, its effects on work-life balance remain unclear, particularly in the context of the evolving and complex nature of work environments in which telework conditions, such as job autonomy, vary. Employee retention poses a significant challenge to human resource management, and the factors that contribute to job embeddedness and its dimensions (links, fit, and sacrifice) are not yet fully understood. For these reasons, this study aims to examine how the extent of telework and job autonomy influence work-life balance and how, in turn, work-life balance affects links, fit, and sacrifice. A non-experimental quantitative design was utilized, with convenience sampling of 175 full-time workers (60.60% engaged in telework) from Lima, Peru, all of whom had at least 6 months of experience in their current positions. Data were collected between November 2022 and the first quarter of 2023 using a virtual survey administered via Google Forms. The results of the PLS-SEM analysis revealed that telework and job autonomy positively influenced work-life balance. Furthermore, work-life balance was found to be positively related to links, fit, and sacrifice. This research enhances the understanding of these relationships from the perspective of conservation of resources (COR) theory. Given these findings, we recommend promoting job autonomy regardless of work modality to enhance work-life balance. Moreover, organizations should invest in practices that support work-life balance to encourage employee retention.
