The research examines the impact of psychological and cultural factors on human capital development in the context of the digital economy in Bosnia and Herzegovina. While access to infrastructure and accessibility of information and communication technologies (ICT) remain key, the research findings highlight that attitudes, perceptions, and cultural factors significantly shape digital adoption and skills acquisition. The survey results show that barriers such as lack of confidence, fear of technology, and limited perceived needs are significant obstacles to full participation in the digital economy, even when basic infrastructure is present. Regression analysis confirmed that psychological and cultural factors have a statistically significant impact on human capital development, explaining a significant part of the variance in outcomes. The presented results highlight that digital transformation cannot be reduced to a purely technical challenge but must also address the human and cultural dimensions of technology use. Policies that combine infrastructure investments with programs designed to build trust, build and change perceptions, and align digital tools with local cultural practices will be most effective in reducing the digital divide and strengthening human capital for future growth. The research sample consisted of 1547 citizens (n = 1547) from Bosnia and Herzegovina, selected using the snowball sampling method. The basic motive for the realization of this research is the fact that there are no relevant studies in Bosnia and Herzegovina that focus on the influence of psychological and cultural factors on human capital in the digital economy.
This study analyses the factors influencing Foreign Direct Investment (FDI) inflows in the Western Balkan countries, which share a history of political instability and economic transition. The research uses panel data analysis, fixed-effect models, and Vector Error Correction Models (VECM) to examine macroeconomic, institutional, political, market, operational, and infrastructural factors affecting FDI inflows in these countries. The findings reveal that a fixed exchange rate regime positively impacts FDI while maintaining macroeconomic stability, improving regulatory frameworks, and enhancing credit to the private sector, crucial for attracting FDI. Additionally, government effectiveness significantly boosts FDI inflows, underscoring the importance of strong governance. The analysis indicates no long-run causality among the variables but significant short-run causality from all analyzed variables to FDI inflows. These insights contribute to the existing literature by highlighting region-specific factors and offering policy recommendations to improve the investment climate in the Western Balkans.
Croatia has substantially reformed the governance framework for its state-owned enterprises (SOEs), through the 2021 Government Action Plan and through the 2025 Law on Legal Entities Owned by the Republic of Croatia. The goal of this paper is twofold. The first goal is to show that, while these reforms address procedural and internal governance aspects, the structural drivers of agency loss remain only partially addressed. Drawing on agency theory, transaction cost economics, multi-principal political economy, and the logic of institutional complementarity, we show that the current framework is missing four key conditions, i.e., hard budget constraints, clear mandates, coordination across government levels, and market-based financing. As a result, the level of public ownership remains high compared to the OECD countries. The second objective is to show that the most likely long-term outcome is a stable but politically mediated equilibrium of moderate compliance, inefficiency, and recurring fiscal exposure. This is discussed in a case study of five SOEs in the Croatian energy sector over 2018–2024. In doing so, we combine an institutional assessment of the reforms with a structured analysis of the selected firm-level financial performance.
This research aims to examine the impact of organizational culture on knowledge management processes, highlighting the mediating role of strategic leadership in supporting this relationship. The field study was conducted at Maghreb Pipe, a company in Algeria that manufactures metal and plastic pipes. To answer the research questions and test the hypotheses, a descriptive-analytical approach was employed, with a sample of 321 employees from the company. Statistical analysis was conducted using AMOS.v24. The findings revealed a significant positive direct impact of organizational culture on the activation of knowledge management processes, along with a partial mediation of strategic leadership in supporting this relationship at the company studied.
This paper examines the effects of national Emissions Trading System (ETS) implementation within the framework of the existing fiscal system in Bosnia and Herzegovina (BiH) from the perspective of economic analysis of law. Existing studies analyze the effects of the Carbon Border Adjustment Mechanism (CBAM) on foreign trade and the competitiveness of exporters in BiH, but there is a lack of studies and empirical research on the effects of ETS and CBAM on fiscal stability and on qualitative and quantitative structure of public revenues. Furthermore, most of the studies conducted by the public sector are not publicly available apart from certain results and estimations on CBAM/ETS revenues. However, these studies do not consider the effects of domestic ETS introduction on other existing fiscal revenues and public expenditures. As a result, there is a lack of theoretical basis for further empirical studies on fiscal effects across different administrative levels. This paper examines the influence of ETS and National Energy and Climate Plan (NECP) on public revenues, taxation, and public expenditures in BiH to ensure fiscal stability in the short and medium-term upon domestic ETS implementation. The present analysis contributes to understanding the interconnected determinants of the fiscal system, the causal relationship between the qualitative and quantitative structure of public revenues and expenditures on the one side, and decarbonization as imposed standard in modern climate and energy policies on the other. The discussion of the results of the conducted analysis and considerations for future empirical research on individual segments of the analysis are included in the paper, together with certain political and security considerations in the existing geopolitical landscape.
Purpose: This paper analyzes leadership evolution at Infosys (global IT leader) and its impact on organizational culture and employee motivation. It identifies challenges from the firm's foundational leadership model and proposes an integrated framework that connects Authentic Leadership and Self-Determination Theory (SDT) to address motivational and cultural deficits in a mature, founder-influenced technology firm. Methodology/Approach: The study employs a qualitative documentary case study design. The 49-document evidence corpus was assembled through a systematic search of EconBiz and ProQuest databases supplemented by purposive grey literature sampling. Corpus assembly is documented using PRISMA-adapted screening procedures to ensure selection transparency. A two-cycle thematic coding procedure mapped emergent categories onto the Competing Values Framework (CVF), Schein's cultural layers, authentic leadership constructs and SDT's basic psychological needs with two-level triangulation applied throughout. Findings: Infosys's transformational leadership model drove early success but documentary evidence is consistent with a persistent gap between Clan-oriented espoused values and Hierarchy-driven operational practices. This cultural tension shows patterns consistent with SDT predictions about need-thwarting of autonomy, competence and relatedness. Implications for theory and practice: The study contributes a three-level theoretical chain absent from existing literature: authentic leadership behaviors reduce the CVF clan-hierarchy gap, which satisfies SDT's basic psychological needs and restores intrinsic motivation. For practitioners, the framework specifies behavioral changes at senior and middle-management levels within a structured three-phase implementation sequence. Originality and value: Existing scholarship addresses authentic leadership, CVF cultural typologies, and SDT as separate domains. This study connects all three into a single diagnostic framework, derives context-sensitive propositions for leadership evolution in founder-influenced technology firms, and specifies those propositions for longitudinal mixed-methods testing.
The role of green finance in driving technological innovation in resource-constrained emerging economies is examined. Despite substantial inflows, many nations struggle to convert funds into green technology advancements, prompting questions about finance-innovation mechanisms. Empirical evidence on heterogeneous impacts of green finance flows on technological innovation is extended, incorporating moderators like institutional quality, energy market dynamics, trade openness, and human capital development. Data from 2004–2023 across 10 BRICS economies (WDI, WGI) are analysed using fixed-effects panel regression and instrumental variable estimation. Renewable Energy Consumption (REC), a proxy for green finance, positively influences technological innovation; a 1% REC increase is associated with a 6.29% innovation rise. Strong institutions amplify this effect while trade openness unexpectedly weakens it. Energy intensity strengthens the linkage, whereas education expenditure negatively moderates it. Prioritization of institutional reforms and alignment of green finance with supportive policies are suggested to maximize technological innovation and advance sustainable development goals (SDGs). Regional variations and feedback loops should be validated to deepen the understanding of technological innovation dynamics.
This paper analyzes the efficiency of banks in Bosnia and Herzegovina in 2023 using Data Envelopment Analysis (DEA) and Stochastic Frontier methods (SFA). The aim of the research is to measure the efficiency of banks in generating income, using variables such as total assets, number of employees and operating expenses as inputs, and interest and non-interest income as outputs. The results show that both methods produce similar average efficiency indices throughout the observed period. However, the analysis of the ranks indicates inconsistency in the assessment of efficiency at the level of individual banks. This suggests that while these methods provide stable insights into the overall efficiency of the banking sector, they become inconsistent when applied to individual banks.
This study provides a comprehensive review of research on happiness at work – a dynamic and attractive concept that is constantly evolving. Given the dynamic nature of the concept and the impact of various factors on its understanding, the analysis is focused on scientific papers published in the last three years, with the aim of identifying the latest research trends. In order to map research tendencies and identify existing research gaps, 2,046 scientific articles retrieved from the Web of Science and Scopus databases were analyzed, using the key word happiness at work. After applying the PRISMA method and eliminating the papers that did not fully correspond to the topic, the final analysis included 98 relevant articles that were completely in the scope of the research. The research results indicate a growing interest in this topic, which is reflected in the growing number of publications in the last period. In addition, a strong connection of happiness at work with the concepts of corporate social responsibility, sustainability, management styles, and the formation of a positive organizational climate was observed. Also, there is a trend of increased publication of papers on this topic in specific sectors such as healthcare, banking, and education.
In the context of encouraging economic growth and development, every country needs adequate financial resources, including Bosnia and Herzegovina (hereinafter BiH). One of the key mechanisms in the context of obtaining financial resources refers to foreign direct investment (hereinafter referred to as FDI). FDI can be a very important channel for technology transfer between countries or simply a way to promote international trade through greater access to foreign markets, while from the aspect of international economic integration it can create stable and long-term connections between countries. Attracting foreign investors requires an adequate investment environment in the country, so institutions are of crucial importance for creating a suitable environment for FDI. Attracting FDI requires an economically stable country with clearly defined directions of development. Considering the large number of studies that claim institutions are of crucial importance for economic development, the goal of this paper is to determine whether institutions in BiH contribute to its economic development, through one of the key mechanisms for accelerating economic development – FDI. The period of 20 years, i.e., 2002-2022, was analyzed. Correlation analysis confirmed a positive relationship between FDI and Voice and Accountability and a negative relationship between FDI and Rule of Law, while linear regression indicates that only Rule of Law has a statistically significant and positive impact on FDI in BiH. The findings of this research can serve the holders of economic power in BiH in designing strategies and policies for economic growth and development, i.e., strengthening economic institutions and attracting FDI.
This study empirically examined the effect of Green Human Resource Management (HRM) on corporate sustainability in the Nigerian insurance industry. The study employed a survey technique through the administration of a structured questionnaire on employees of insurance companies in Nigeria. The population of this study comprised 20,000 employees and agents of insurance firms in Nigeria, which constituted the element of observation of this study. The sample size of the study was determined using Taro Yamane sample size determination formula, at 95% confidence level and 5% confidence interval, which gave a sample size of 377. A non-response rate of 40% was assumed, which increased the sample size to 527 (377+150). The findings reveal that Green HRM has a positive and significant effect on corporate sustainability, with coefficients and probability values of β1 =0.656, P-value < 0.05. This implies that Green HRM has a significant affect on corporate sustainability, The F-stat (52.673), P-value < 0.05 shows the fitness and overall significance of the regression model. The coefficient of determination (R2) suggested that 33.1% variation in corporate sustainability is accounted for by Green HRM. However, the model did not explain 66.9% of the variation in corporate sustainability, implying that there are other elements or factors associated with corporate sustainability, which were not captured in the current model. The study concludes that Green HRM is an important driver of corporate sustainability in the Nigerian insurance industry. Therefore, it is recommended that Nigerian insurance companies should utilize Green HRM towards enhancing their corporate sustainability
The hotel industry in South Africa is fiercely competitive, with a range of accommodation options from international chains to boutique establishments. Establishing and maintaining customer loyalty is essential for hoteliers to ensure repeat business and stand out in a crowded market. This study aimed to evaluate the effect of service quality and brand equity on customer loyalty in South Africa’s hotel industry and explored the mediating effects of tangibles, responsiveness, reliability, empathy, and assurance on customer loyalty through service quality, as well as the mediating effects of brand attachment and brand attitude on customer loyalty through brand equity. Guided by a positivist paradigm, the study employed a quantitative methodology and a descriptive research design. Data was collected via an online survey from 379 respondents and analyzed using Partial Least Squares Structural Equation Modelling (PLS-SEM) to test the hypotheses with SmartPLS version 3. The findings revealed a statistically significant effect of service quality and brand equity on customer loyalty. Furthermore, the findings indicate that customer loyalty mediates the relationship between service quality and brand equity. The study offers valuable insights for hotel managers and marketers, recommending strategies to improve customer loyalty through enhanced service quality, emotional branding efforts, and effective customer loyalty programs. These findings emphasize the importance of exceptional service experiences, robust brand equity, and understanding cultural nuances in consumer behavior, providing actionable insights for achieving a sustainable competitive advantage in the South African hotel industry.
This study aims to investigate the role of financial literacy in green microfinance investment in women's microfinance groups. It considers renewable energy efficiency and financial literacy as factors that influence green microfinance. The study's main goal is to examine the direct and indirect relationships among these three factors. The findings suggest that a pro-climate (SDG 13) policy in response to energy efficiency (SDG 7) is supported by pro-local knowledge-based financial inclusion (SDG 4). Energy efficiency, climate action, and local knowledge-based financial inclusion are seen as policy options to reduce poverty in rural areas in East Sumba.
The improvement of the energy structure and the development of the renewable energy sector play an important and strategic role in Cameroon's responsibilities against climate change. So, the authorities and policy makers have made great efforts to achieve this. But one of the main constraints of Cameroon's energy transition lies in financial issues, which are inevitably linked to the country's financial development. At the heart of this reflection therefore arises the question of knowing: What could be the impact of financial development on the consumption of renewable energies in Cameroon? This study therefore aims to examine the impact of financial development on the consumption of renewable energies in Cameroon over the period from 2000 to 2022. Our research is based on a Vector Autoregressive (VAR) model; seven variables of financial development have been used to explain the consumption of renewable energies in Cameroon. The results of the empirical analysis show that foreign direct investments, the evolution of bond markets and energy prices represented by the consumer price have a negative effect on the consumption of renewable energies. On the other hand, domestic credit provided by the financial sector, banking availability, economic development, and income have a positive impact on renewable energy consumption. Our empirical results provide valuable insights into the best ways to deploy capital in the renewable energy sector, in order to provide customers with cost-competitive options, and to facilitate the implementation of policies that contribute to environmental sustainability and energy security.
The purpose of this study is to examine the effect of material management on the survival of block molding firms in a selected Local Government Area of Ogun State, Nigeria. This study collected data from 100 block molding enterprises from a population of 229 registered businesses in the block molding industry through survey research. To collect data from the respondents, a structured questionnaire with a five-point Likert scale was used. Cronbach's Alpha was used to validate the reliability of the variables utilized in the study. The data was analyzed using descriptive statistics, and the responses were represented using a simple percentage technique. PLS-SEM was used to analyze inferential statistics. The result showed that the coefficient of material procurement (β = 0.114, t = 5.195, p = 0.05) was found to have a significant positive relationship with block-producing-business survival. It also showed that the coefficient of inventory control (β = 0.837, t = 5.514, p = 0.05) was found to have a significant positive relationship with block-producing-business survival. The results further showed that the coefficient of material management (β = 0.965, t = 4.838, p = 0.05) was found to have a significant positive relationship with block-producing-business survival. The study concluded that a cohesive material management strategy can strengthen longevity. It advocated, among other things, that block-producing enterprises implement an integrated approach that harmonizes material procurement and inventory control in order to capitalize on the synergistic benefits of material management. This entails creating complete material management plans that optimize the whole supply chain, from sourcing to storage and distribution.
Data is the primary factor of production in the digital economy, playing a role in promoting the deep integration of the digital economy and the real economy and smoothing the national economic cycle. After entering the circulation system of the real economy, data is rapidly integrated into production, circulation, consumption, distribution, and other links. It optimizes resource allocation, unblocks circulation channels, promotes accurate matching of supply and demand, stimulates emerging demand, and forms a virtuous circle of digital technology application, traditional physical enterprise transformation, and technological innovation. Integrated development is an important feature of the digital economy. Data promotes the integration of factors of production, products, enterprises, industries, and markets, which fosters a circular system with deep integration of the digital economy and the real economy. To promote the deep integration of the digital economy and the real economy, the government and business entities should take measures to improve the circular efficiency of the digital economy and the real economy. These measures include attaching importance to the role of data-driven development, improving data capacity, data development, and utilization in enterprises, exploring diverse circulation models of enterprise data, and creating typical application scenarios and industrial data spaces.
Every company strives to achieve competitive advantage, which is why managers constantly seek new ways of reaching that goal. One of the best ways to gain competitive advantage is through innovation. In theory, innovation can be classified in numerous ways. Some of them include management innovation, which can simply be defined as the process of innovating what managers do. Despite the power of management innovation to propel a company to the level of excellence no other company can compete with, this research has showed that managers in Bosnia and Herzegovina (BiH) are not fully aware of its importance.
Several reasons are responsible for income disparity across different nations. Education established itself to be the primary reason for such disparities. Therefore, estimation of return on investments in education has become a great concern of the researchers in recent years. In most of the cases researchers used earnings function for estimating return on investments in education and found lower return for developing and least developed countries. Therefore, the study aimed to investigate the private financial return on investments in education in Tangail City of Bangladesh. To pursue the study, the required data from 100 respondents from the study area were collected. The study employed the Mincerian Model for estimating the rate of private financial return on investments in 1 year education in Tangail City. It found the rate 2.1% which is very low. Parallely, the study also revealed that besides education, type of occupation and job experience had a great influence on the income of people of Tangail City.
Corporate social responsibility (CSR), which is the adoption of responsible business practices concerning economic, environmental, and social CSR, is an important topic among marketers aiming to develop market value with various stakeholder groups, including employees. Previous research is limited to developed market economies and has focused mainly on external stakeholder groups. This study explored South African retail employees’ awareness of their organizations’ CSR initiatives. The sample size was 229 South African retail employees, from lower-level employees up to middle and senior management. The study made use of a computer-aided self-administered survey, distributed via LinkedIn. The results indicated that lower-level employees are less aware of economic, environmental, and social CSR initiatives implemented by their organizations than those in middle and senior management, but that there was no significant difference between middle and senior managements’ levels of awareness of their organizations’ CSR initiatives. The results also indicated that employees have higher levels of awareness when it comes to internal economic CSR, external economic CSR, and external social CSR, as opposed to internal environmental CSR, external environmental CSR, and internal social CSR initiatives. The findings of the study can assist organizations to customize internal CSR communication strategies.
