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Abstract Digital transformation is a growth strategy that has attracted a significant amount investment and is projected to boost the global economy by 2030. However, organizations face challenges in their efforts to develop effective approaches to digital transformation because of the constant need for new strategic choices. Dynamic capabilities and change management are vital with respect to organizations’ ability to maintain competitiveness in the changing environment established by digital technologies. The effective management of these changes is crucial, and failure is often the result of the absence of a suitable change management model. This study examines the significance of dynamic capabilities in digital transformation and explores the mediating role of a well-defined approach to change management in the context of digital projects. A quantitative research approach is used to investigate a population of 902 managers and team leaders working in the telecommunications sector in Yemen. A questionnaire is developed and administered to a sample of 350 participants, and the data collected were analyzed via SmartPLS. The findings reveal a positive relationship between dynamic capabilities and the successful implementation of digital transformation initiatives. Effective change management techniques facilitate digital transformation by playing a mediating role in the abovementioned relationship. The results of this research provide valuable insights into the theoretical framework underlying this topic by integrating dynamic capabilities, change management, and digital transformation. This information can help decision-makers in the telecommunications sector develop a roadmap for successful digital transformation projects in their organizations.

Abstract The purpose of this study was to investigate the barriers and drivers of digitalization in small- and medium-sized enterprises (SMEs). Specifically, the study aimed to identify the key factors influencing the adoption and implementation of digital technologies in SMEs, understand the challenges faced by these organizations in their digital transformation journey. In this study, a fuzzy logic methodology was employed to assess the digitalization process of 4531 SMEs. Additionally, an analytical hierarchy process (AHP) was applied to determine the weights of the dimensions in the fuzzy analysis. This allowed for a more accurate and precise assessment of the digitalization levels in SMEs. Furthermore, statistical analysis techniques were utilized to analyze the data and draw meaningful conclusions. The study revealed that insufficient financial resources, high investment costs, resistance from workers, a shortage of well-qualified staff, lack of knowledge about technology providers, high IT security requirements, the absence of a digital transformation-oriented business culture, and the application of fuzzy logic as a methodology were the key findings in the digitalization process of SMEs. These findings highlight the complex challenges faced by SMEs and emphasize the need to address these barriers to facilitate successful digital transformation.

Abstract This systematic literature review (SLR) identifies and ranks the decisions that can be considered critical for entrepreneurs at the early stage of the start-up process. The sample (N = 56) derived from the SLR contained primary publications from the A + and A journals of the VHB-Journal ranking. Deductive and inductive approaches were used to define the critical decision domains. Then, the relevance of the domains was evaluated using the frequency of the selected studies. A key implication for founders is to understand that not all decisions that could be taken in the early stage may be critical for success. Most critical seems to invest time and effort in the, what we label the internal business and human core (Core People and Product Definition) and the external business and human core (Market segment selection and Partnerships). This study depicts an integrated view of the fragmented field of critical decisions in the context of early-stage start-ups by using a SLR. Thus, it creates value for theory-building and practitioners in entrepreneurship and innovation.

Abstract Employee innovative behaviour shapes the core competitiveness of an enterprise. Leadership style has been shown to influence employee innovative behaviour significantly. This research paper fills the gap by exploring the relationship between distributed leadership as an emerging leadership style and employee innovative behaviour along with psychological empowerment as mediator and organizational innovation climate as a moderator. 567 responses were collected from 29 different regions in China based on their availability through an adapted questionnaire. The data were analyzed using statistical software Mplus 6.0 and SPSS 19.0. The research results show that distributed leadership not only positively affects the innovative behaviour of employees but also has a positive impact on psychological empowerment and such empowerment positively influences employee innovative behaviour. The results also confirm that psychological empowerment mediates the relationship between the innovative behaviour of employees and distributed leadership. In addition, the organizational innovation climate moderates the relationship between psychological empowerment and the innovative behaviour of employees. The study not only contributed by confirming the moderating effect of organizational innovation climate on the relationship between psychological empowerment and employee innovative behaviour but also added directions for future researchers to explore more about the relationship between psychological empowerment and employee innovative behaviour along with theoretical research on enterprise leadership and management.

Abstract This study examined the influence of climate change vulnerability on the external debt vulnerability of Sub-Saharan Africa, with a focus on the Vulnerable Twenties (V20s), utilizing panel data spanning from 2015 to 2020. The climate readiness, climate vulnerability, and external debt vulnerability indices were derived via principal component analysis (PCA). The results from the system GMM analysis indicate that climate readiness exhibits a negative and significant impact across short- and long-term periods for the overall sample. However, for the V20s, the negative effect of climate readiness shifts to a positive and significant one over both short and long terms, with the long-term effect being more notable. These findings highlight a vicious cycle between debt and climate crises within the V20s. Thus, prioritizing debt relief over climate finance loans, decarbonizing greenhouse gas emissions, redirecting funds for climate goals, improving debt practices, and investing in public services would break nations’ vicious cycle of debt and climate vulnerability.

Abstract Successful investment in early-stage companies has high uncertainty. More specifically, the tools available to investors need to be more robust to reduce the risk and manage the uncertainty of startups. This research aims to use machine learning methods to design a prediction solution to identify successful startups for investors. In order to design the predicting solution and provide policies, classification, and clustering algorithms have been utilized to predict the success of startups and perform feature importance analysis based on the SHAP and permutation methods. Subsequently, the performance of four classification algorithms, such as Random Forest, Gradient Boost, Multilayer Perceptron, Logistic Regression and Support Vector Machine, are compared to predict business success. Meanwhile, Random Forest and Gradient Boosting algorithms showed the best accuracy, which was equal to 82% and 80%, respectively. Based on the feature importance of Random Forest and Gradient Boosting, which is obtained from the SHAP method, indicated that the higher values of “Number of followers on LinkedIn”, “Number of employees on LinkedIn”, “Number of followers on Twitter”, and “Last raised amount” have higher SHAP values and a more significant impact on the model output. Three clustering algorithms including hierarchy, K-means, and DBSCAN were also compared. Among them, the K-means algorithm performs best with 72% silhouette, and K-means was employed to explain each cluster’s characteristics. Finally, an effective artificial intelligence-based prediction solution has been proposed to show the way for investors to apply machine learning concepts to predict the success of startups.

Abstract Providing quality service is the major concern of many public organizations. However, the way to provide immediate service (responsiveness), the capacity to deliver on promises of accurate and consistent service (reliability), the degree of trust and confidence of students in the service provided by the college (assurance), the physical appearances of the service that the college offers (tangibility) and understanding the needs of students in the college are not as such potential. Thus, the study aims to investigate the effect of a quality service system on student satisfaction in Business and Economics College, University of Gondar. An explanatory research design with a quantitative research approach was employed to address the specified objectives. The population of the study was 6323 and out of these, 376 samples were drawn through stratified random sampling technique. Of 376 self-administer questionnaires, 263 were valuable for this analysis. One of the objectives of the study was to understand the dominant service quality dimension. The finding of the mean score of SERVQUAL dimensions portrays that students are less satisfied with dimension responsiveness (M = 2.31), which implies that the way students get an immediate response for their need showed very low followed by dimension empathy (M = 2.63) i.e., the willingness of staff to support or help students, spontaneous care and concern of staff to student’s needs, is lower, whereas with tangibles, assurance, and reliability are better. The PLS-SEM analysis result confirmed that tangibility and assurance has a significant effect but other service quality dimensions are not.

Abstract This study aims at assessing business landscape and growth determinants of micro- and small enterprises working in WASH sector. The study also investigates the effect of determinant factors on enterprise growth. The study population comprised 6000 enterprises working in six cities. The study used varieties of data collection instruments including questionnaire administered with randomly selected enterprises and collected valid data from a total of 300 enterprises; conducted 24 Key informant interviews with different officials in the Cities who are concerned with WASH products and services including private WASH goods and service suppliers; conducted 12 FGDs with utility officers; community representatives; enterprise owners to triangulate the data come up with the questionnaire result. The WASH business landscape in Ethiopia faced several challenges that hinder its ability to create demand for WASH products and services among enterprises. These challenges include inadequate and ineffective demand creation efforts, low capacity of private commercial operators, limited financial services available to both the private sector and households, inadequate business support services at the local level, and inadequate workspace for WASH enterprises. However, there are also several drivers of WASH sector development in the city, such as increased government commitment to supporting access to WASH services through policies and budget support, support from development partners like the World Bank, and an increase in the city’s population. The structural equation modeling result revealed that finance resources, administrative skills, marketing competence, and technical support were found to be significant. However, infrastructure facility was found insignificant. The study recommended that the government and stakeholders come together to support enterprises and play their roles in the growth of enterprises in Ethiopia.

Abstract Research and innovation (R&I) institutions must commercialize their innovations to remain competitive in a knowledge-based economy. While R&I institutions in Uganda have the potential to drive socioeconomic development, a clear understanding of the commercialization pathway is lacking. This study aims to bridge this gap by analyzing the systemic, infrastructural, and financial factors that drive and hinder the commercialization of innovations at R&I institutions in Uganda. This study offers the first comprehensive examination of the systemic, infrastructural, and financial dimensions influencing innovation commercialization within Uganda's R&I ecosystem, presenting new empirical evidence on the prioritized barriers and drivers as perceived by key stakeholders. Employing a mixed-method approach, this study uniquely combines quantitative surveys with qualitative case studies and key informant interviews, enabling a nuanced understanding of the multifaceted drivers of and barriers to innovation commercialization in Uganda. The study employed the Delphi technique to identify consensus among key informants. The findings highlight the urgent barriers to address, including fragmented R&I ecosystems, inadequate support infrastructure, such as technology transfer offices, and significant gaps in innovation financing. These issues underscore the urgent need for targeted policy interventions. Based on our findings, we recommend the establishment of a national innovation fund, enhancement of public private partnerships for R&D infrastructure development, and formulation of a cohesive national policy framework to streamline commercialization processes at R&I institutions. This study provides policymakers with a data-driven foundation to craft targeted interventions aimed at removing the identified barriers, thereby catalyzing the commercialization of innovations in Uganda's R&I institutions.

Abstract With much of the literature declaring little role for financial systems in boosting a nation's share of innovative entrepreneurs, this study argues that financial systems play an important role when other parts of the national business systems —skills and government— are weak. This argument is supported by an analysis of a panel data set comprising 283 country-year data over five years. Overall, this research contributes to a stream of research about the context for entrepreneurial aspirations or entrepreneurship quality. The study empirically confirms an idea seldom tested: the interplay required between systems components, such as institutions, to increase national innovative capacity.

Abstract This study investigates the mediating effect of regulatory compliance mechanisms on the association between environmental knowledge and environmental sustainability practices of manufacturing small and medium enterprises (SMEs) in Uganda. This study was cross-sectional and correlational. Data were collected through a questionnaire survey of 254 manufacturing SMEs and analyzed using the Statistical Package for Social Sciences (SPSS), following Baron and Kenny, as well as bootstrap guidelines, to establish the association between the study variables and the mediating effect of regulatory compliance mechanisms. The study results indicate the following: (1) environmental knowledge and regulatory compliance mechanisms significantly explain the environmental sustainability practices of manufacturing SMEs; (2) environmental knowledge is significantly related to regulatory compliance mechanisms; (3) regulatory compliance mechanisms partially mediate the environmental knowledge and environmental sustainability practices of manufacturing SMEs. This study contributes to the existing literature on environmental sustainability practices as it offers initial empirical evidence on the mediating effect of regulatory compliance mechanisms in the association between environmental knowledge and environmental sustainability practices of manufacturing SMEs.

Abstract This study proposes a comprehensive MedTech product innovation development framework tailored for university research commercialization within emerging markets. The MediGate framework, built on the Augmented Stage-Gate model, addresses the unique challenges of MedTech innovation, including regulatory compliance, stakeholder engagement, and market dynamics. The framework integrates critical decision-making criteria for different types of inventions to drive academic research toward commercialization in clinical settings. Through detailed case studies, including innovations like albumin strip test, 3D-printed patient-specific implant, COVID-19 nasal spray, and AI platform for depression detection, and iterative refinement, the framework provides actionable guidelines for navigating the complexities of product development. These guidelines ensure alignment with clinical needs, regulatory requirements, and market strategies. The research highlights the importance of early-stage valuation, reimbursement strategies, legal and IP considerations, and manufacturing and quality management. By offering a structured pathway, this research contributes to the theoretical and practical understanding of MedTech commercialization, aiming to enhance innovation success and healthcare impact in emerging markets.

Abstract The purpose of this paper is to analyze the impact of various dynamic capabilities (Innovation (IN), entrepreneurial leadership (EL), Social media (SM), and digital technology (DT)) on Business performance (BP). This study also analysis the mediating impact of talent management(TM), and Entrepreneurial orientation (EO) between EL, and Business performance. The reason for this is that in the handicraft industry SM, DT TM, and SR impact on business performance are still not fully understood. We have adopted a survey-based methodology from 410 handicraft artisans or entrepreneurs. Data was empirically analyzed to test the theoretical model of mediation through Smart partial least square method (SMART PLS-SEM) software. The study's findings prove entrepreneurial EL improves Business performance whereas the association between Social media (SM) and BP is insignificant. The mediating impact of Talent management, EO, and strategic resilience was statistically positive and significant and proved that bridging between BP and all three mediators supports and makes stronger EL for boosting business performance. Innovation, and digital technology, positively affect Business performance. This study explores artisans' formal entrepreneurial EL style. This study is unique because the Dynamic capability theory (DCT) as an extension of the resource-based view (RBV) has been used for critical business factors like EL, strategic resilience, Business performance, digital technology, innovation, and talent management in the handicraft sector will be extended. This study also proposes a new Digital capability view (DCV) for future study. This study will explore the theoretical and practical understating of (DCT) with managerial use of EL, Innovation, and TM for boosting Business performance.

Abstract Through empirical investigations into university spin-offs (USOs), we discovered innovativeness benefits derived from maintaining both academia and business partners at a distance. Distance should not be misconstrued as isolation; rather, it emphasises specific attributes where partners are maintained at arm’s length, affecting co-creation. Consequently, this paper explores how distance impacts the co-creation and innovativeness of USOs. It presents a longitudinal case study of a Swedish USO and conceptualises various types of distances, including actor-type, industry, supply-chain, geographical and knowledge-related distances. We explore the interplay between these different distance types as antecedents to USOs’ innovativeness and co-creation activities. The paper contributes to the existing literature by introducing the concept of distance as a critical characteristic affecting innovativeness and co-creation. By delineating various types of distances, it refines previous research on the characteristics of firm connections within university and business ecosystems.

Abstract This study investigates the substantial influence of digital transformation (DT) on enhancing organisational resilience by examining the contributions of organisational learning and innovation—dimensions frequently overlooked in prior research. By addressing this gap, the study not only empirically validates these associations, but also conducts a rigorous examination using a sample of 376 small and medium-sized enterprises (SMEs) in the Andalusia region of Spain, selected through purposive sampling to include 259 respondents. The findings from regression analysis reveal how digital technologies facilitate organisational learning and innovation, thereby augmenting the resilience of SMEs. Empirical evidence indicates that these technologies enhance SMEs' learning capacity and stimulate innovation, ultimately improving their adaptability. This increased flexibility enables SMEs to respond adeptly to market fluctuations and capitalise on emerging opportunities.

Abstract A number of empirical studies have underscored the significance of entrepreneurial orientation in understanding the dynamic business environment driven by entrepreneurial actions. However, the notion of individual entrepreneurial orientation (IEO) has received less attention in scholarly literature. It’s widely acknowledged that entrepreneurial education (EE) makes a substantial contribution to a country’s economy. It’s believed that EE can empower individuals and thus play a crucial role in addressing various societal challenges faced by countries globally. Nonetheless, the influence of EE on the IEO of university students, and whether it effectively guides them towards an entrepreneurial career, hasn’t been thoroughly examined. This study aimed to explore the influence of EE on the IEO of university students. This study focuses on two distinct economies—a developing one (South Africa) and a developed one (Scotland), the latter being recognized for its high-quality EE and a high proportion of individuals opting for entrepreneurial careers. A quantitative research approach was followed making use of an adapted questionnaire, which was analysed with SPSS and EQS 6.4 using descriptive statistics, reliability analysis, exploratory factor analysis, multivariate analysis of variance and path model analysis. A total of 2841 questionnaires were distributed online, yielding 575 valid responses. Findings indicate that EE significantly influences the IEO of university students in South Africa, but to a lesser extent in Scotland. The study expands the existing body of knowledge on IEO of university students. In addition, it provides insight for policymakers in the respective countries.

Abstract Science, technology, and innovation (STI) systems are fundamental to the economic development of any nation. However, their high hierarchy and centralization create inequities for the more dispersed regions to access their benefits. Traditional approaches to STI system decentralization have been through public control and investment policies, posing a challenge for emerging economies. Given these conditions, it is necessary to explore alternative approaches such as open innovation (OI), which can facilitate bringing the STI system to the regions by breaking its hierarchical structure; and organizational ecology (OE), which can contribute to the construction of ecosystemic appropriation of STI in the regions. The objective of this research is to propose a conceptual model that addresses the need to decentralize Colombia's STI system through an alternative approach to public policy governance, utilizing OI and OE. The methodology used for this research is Design Science Research (DSR), which allows for the creation of an artifact-type model, validated through the representational validation technique, supported by a cross-impact analysis matrix completed by 67% members of the subregional STI committees in the department of Caldas. The result is a conceptual model that integrates the components of Colombia's STI system, decentralizes them through OI factors, and ensures the ecosystemic appropriation of STI in the regions through OE factors. Model criteria, such as organizational readiness, collaborative capacity, absorptive capacities, intellectual capital, technological capital, and local niche, are presented as key elements in the decentralization of the STI system and the ecosystemic appropriation in the co-creation of a mutualistic STI system in Colombia's regions. The findings of the model represent an integrated model that unfolds sequentially; the first phase develops the decentralization through OI factors, and the second phase develops the ecosystemic appropriation from OE factors. This research contributes an integrated OI and OE model as an alternative to the traditional STI system decentralization approach from public policy governance and nation-region control, overcoming the hierarchical barrier of the system and granting ecosystemic appropriation of science, technology, and innovation in the regions.

Abstract This article aims to investigate the effect of customer empowerment on their engagement on sharing platform in the retailing sector via the mediating role of service innovation and customer trust. This study utilized a quantitative design emphasizing mature theory research. The research sample consisted of 457 customers of sharing platform for the retailing sector, using a partial least square-structural equation model (PLS-SEM) for hypothesis testing. The result reveals that customer empowerment positively and significantly affects customer engagement directly and via service innovation as a mediating mechanism on the sharing platform. However, trust in the platform does not mediate this relationship. It is advisable to retailers on sharing platform to create a leading position in this market by enhancing customer engagement and promoting service innovation via customer empowerment. This paper develops a conceptual framework for customer engagement on sharing platform in the sharing economy via service innovation based on giving empowerment to customers.

Abstract Entrepreneurship educators (EEs) are critical in fostering entrepreneurship and innovation in emerging economies, as they play a vital part in developing talent, which further contributes to a knowledge-based economy. The value of EEs is in promoting entrepreneurship education and highlighting the significance of developing an entrepreneurial mindset among students. Primary data was collected by conducting in-depth, semi-structured interviews involving educators affiliated with public and private Higher Education Institutions (HEIs) in the UAE. Participants were selected by adopting random sampling and snowballing techniques. Our findings not only shed light on the challenges faced by EEs but also underscore the urgent need for better support from institutions. This support is crucial for EEs to make an effective contribution to developing a professional workforce that can significantly impact students and the community. We also advocate strategies for fostering experiential learning, which include giving EEs more autonomy and support by establishing dedicated entrepreneurship centers. This work is a call to action, contributing to the further development of the literature on EE, which has received much lesser academic attention than it deserves. It also lays a foundation for further cross-country studies.

Abstract Understanding labor market dynamics remains a pivotal aspect within contemporary economic discourse, as necessitates the pursuit of effective employment models to ensure steady progress in the conditions of changes in the economic structure. The aim of the research is to examine the dynamics of the labor market in developing countries, with particular emphasis on China and Kazakhstan, taking into account economic, social, and technological trends. The methodology includes the analytic and comparison of trends in the labor market in developing countries, such as China and Kazakhstan over the past 20 years, and also monitoring the socio-economic nature of the labor process. The study identified changes in the labor market and provided empirical evidence for new forms of employment, utilizing comparative analysis and data visualization of the sectoral structure of the economy and global labor market trends up to 2027. The obtained results provide three main conclusions: a decrease in demand for low-skilled workers and an increase in demand for highly qualified individuals; the emergence of jobs with low levels of social protection; new forms of employment-oriented towards workers outside the social security system, domestic workers, and self-employed individuals. These types of employment can fill jobs in platform and piecework economies, cooperativism, and the sharing economy, which allows employers in developing markets to optimize employment. The findings of the study can contribute to understanding the functioning of the labor market in developing countries including the development of small and medium-sized businesses, startups, and innovative projects, and may be applicable in the development of economic and social policies for sustainable economic growth and social stability.

Abstract The study investigates how microfinance interventions and the entrepreneurial engagement of Self-Help Group (SHGs) members impact women’s social and economic empowerment in rural communities. The study employs a mixed-methods approach, combining quantitative data analysis and qualitative insights gathered through surveys, interviews, and case studies. The study’s findings demonstrated a notably positive and moderately significant impact of microfinance and entrepreneurial engagement on the social, economic, and psychological dimensions of women’s empowerment. Furthermore, the inclusion of case studies provided evidence that microfinance activities and entrepreneurship involvement have substantially empowered women across various domains, such as increasing financial independence, enhancing participation in decision-making processes, fostering social networks and support, and boosting their overall self-confidence and well-being. These insights emphasise the transformative potential of microfinance initiatives in advancing gender equality and women’s empowerment in diverse socio-economic contexts.

Abstract We draw intuitions from the systemic perspective of innovation to develop and test a conceptual model aimed at examining the various factors capable of influencing the novelty of innovations within firms in Visegrad countries. The empirical results based on the analyses of about 2,132 firms revealed that organisational strategies, external collaborations, engaging in research and development, and the legal status of firms marginally influence innovation novelties. Contrary to our expectations, we found that intellectual property rights and bureaucratic ties do not significantly influence innovation novelties. Business cities are also positively correlated with firms’ innovation novelties whilst legal status is not. The main practical implication of the research is that firm managers in the Visegrad Group aiming to improve and sustain the novelty of innovations should consider strengthening their external collaborations as well as having business strategies that must include innovations as well as research and development (R&D). We discuss some implications for theory and policy.

Abstract Agriculture is the major source of income and employment creation for majority of least developed countries. Ethiopia as one of least developed countries of sub-Saharan Africa, majority of its citizen’s livelihood is predominantly dependent on agricultural products, more specifically on the production of cereal crops (Alemayehu et al. in Adv Crop Sci Technol 6(1):1–9, 2018). This study is conducted to identify the determinants of household to adopt and use improved maize seed, one of highly cultivated cereal crops in Eastern Amhara of Ethiopia. The data used in this study are secondary data collected by the agriculture office of Amhara regional state from 3864 household farmers living in the study area in 2022 fiscal year. To address the objective of the study, both descriptive and econometric methods of data analysis are applied. Because of the binary nature of adoption to be either adaptor or non-adaptor, probit regression model is applied. The probit model result shows that being male-headed household, rural credit provision, access to irrigation and the use of fertilizers affect the tendency of adopting improved maize seeds are positively related, while total arable land size owned by farmers negatively affects adoption status. Based on this result, the researcher recommends that government and other institutions should be invited to facilitate and directly involve in providing credit, irrigation, and fertilizers in the study area.

Abstract Exploring the constituent elements of teacher leadership is an important research direction for bringing innovation and entrepreneurship within teacher leadership research. However, there are very few studies on the components of teacher leadership based on the perspective of innovative teacher behaviour. This paper uses the method of grounded theory and the three-level coding technology of the qualitative analysis software Nvivo12.0 to code and analyse 33 Chinese core journal texts about teacher leadership in the CNKI database. In these texts, teaching students in an innovative and entrepreneurial way is the fundamental element, leading colleagues and assisting leaders to represent higher-level relationship elements, serving society is the highest-level element, and developing oneself is the driving force that runs through the entire process. A deep understanding of the constituent elements and structural dimensions of teacher leadership can help promote innovation and entrepreneurship through teachers’ independent development, mutual assistance, and cooperation, improve teachers’ leadership performance, and promote the development of students and schools.

Abstract Since the seminal work of MM irrelevance theory, there has been a long history of controversy among academicians both in developed and developing nations regarding the determinants of capital structure. To this end, the main aim of this study was to investigate firm-specific and country-level determinants of the capital structure of Ethiopian commercial banks. The study adopted an explanatory research design with a quantitative research approach. A panel dataset was obtained from 14 commercial banks, which range from 2010 to 2022. A random effect panel regression result revealed that tangibility, non-debt tax shields, growth, and interest rate had a positive and significant effect, while the gross domestic product had a negative and significant effect on leverage which is used as a measure of capital structure. Among the independent variables tested, ROA, liquidity, effective tax rate, risk, and inflation have an insignificant effect on the capital structure of the selected commercial banks. The study will have implications for managers of commercial banks, legislators, regulators, and other interested parties that can use the study's conclusions to help them make well-informed capital decisions and implement the necessary measures to enhance the financial performance of Ethiopian banks with an optimal ratio of debt to equity.

Abstract Artificial intelligence (AI) has experienced a significant increase in its application in the educational field worldwide. This study aimed to analyze the acceptance of AI and its effect on the entrepreneurial intentions of international trade university students in Peru and Ecuador. With a quantitative approach and a non-experimental applied design, an online survey was administered to international trade students from Peru and Ecuador. Amos version 24 software was used to obtain model fit indices and perform gender-based invariance tests. Additionally, SmartPLS statistical software, based on the partial least squares (PLS) technique, was employed to test the hypotheses of the structural equation model (SEM). The measurement model presented acceptable fit indices. When calculating invariance, the configural, metric, and scalar models were satisfactory, although the residual model was not confirmed. It was found that hedonic motivation, habit, and performance expectations influenced international trade students’ intention to use AI. Likewise, it was discovered that the intention to use AI tools has an effect on entrepreneurial intention. Gender and age did not moderate the effect of AI usage intention on entrepreneurial intention. The study provides empirical evidence on the acceptance of AI and its influence on students’ entrepreneurial intentions, offering valuable information for educators, policymakers, and technology developers in the educational field.

This research conducts a study on the utilization of information regarding affiliated parties of the reporting entity. The objective of the research is to define the concepts related to affiliated parties as established by national and international accounting frameworks, as well as fiscal regulations. The aim is to identify information concerning transactions with affiliated parties reported in financial statements, as well as those disclosed in the notes to the financial statements. The study employs scientific research methods such as: analysis of the regulatory framework governing the study (both national and international accounting standards and fiscal regulations), synthesis of information, and comparison to identify distinctive and similar features regarding the treatment of the concept and information related to affiliated parties. It also addresses the challenges involved, enabling the presentation of the relationship between information on transactions with affiliated parties reported according to National Accounting Standards (SNC) and International Financial Reporting Standards (IFRS). The research findings reveal a discrepancy between the definition of the concept under national and international frameworks, as well as between accounting and fiscal frameworks. Additionally, differences were identified in the information required to be disclosed in financial statements concerning affiliated parties based on the two regulatory frameworks.

In this study, we aimed to investigate the relationship between innovation and performance at the level of small and medium-sized enterprises (SMEs). It is considered to carry out a literature review in which the data of twenty relevant studies are collected, these constituting the basis from which applied research starts. In the process of reviewing the studies, elements such as the applied research methodology, performance evaluation variables, innovation evaluation variables and the results obtained from the research were identified. The results indicated that through innovation, SMEs can become more profitable. The ability to innovate products, processes, marketing and management has helped improve the business performance of SMEs.

In this study, we examine how entrepreneurs’ perception of the national and local economy affects the entrepreneurial activity in U.S. states. We also look into the impact on small business owners’ outlook for the future and on their firm’s performance. Does the status of the economy affect small business owners’ optimism, their activities, and their success? We find that although the perception of the economy does not have an impact on the entrepreneurial activity in a state (as measured by the number of new startups), it has a significant impact on both small firms’ performance and small business owners’ outlook for the future. In the states where the business owners have a more positive view on the national economy, small firms are more successful and their owners are more optimistic in terms of their plans for future hiring. In the states where the business owners have a more positive view on the local economy, small firms are more successful and their owners are more optimistic in terms of encouraging others to start a business in their state. We also find that the states with a higher percentage of owners showing their business as primary employment tend to have significantly more entrepreneurial activity when compared to the other states.

This study explores accounting in terms of its openness towards new trends of the capital market in the context of globalization and continuously changing needs of various categories of users. The theoretical framework of the study explores the relations between traditional elements of financial and managerial accounting in correlation with new trends generated by the development of sustainable corporate governance. Strategic managerial accounting has been one of the new challenges brought by the need of companies to disclose their non-financial information related to internal and external environment for short, medium and long-term decision-making. The authors look at the regulatory framework in order to underline the evolution and conditions that businesses should comply with in their internal and external reporting. For this purpose, annual reports of main companies listed on the Bucharest Stock Exchange have been used in the empirical study. Specifically, the study proves that that the elements of modern accounting cannot ignore key operations of company management. In this context, such information as risk management, evaluation of investment, corporate social responsibility, internal audit, internal control, managerial strategies, financial reporting, performance and stewardship are becoming very important.

In the current challenging context, dominated by multiple crises, social policy is a strategic element on which the EU has focused in regulatory, institutional and financial terms, with the objectives of ensuring social well-being for all European citizens, creating an institutional and economic climate of social security, ensuring equal opportunities and social inclusion. In this context, we aim to develop a study of the dynamics of social policy components at the European level and to develop the impact model on the effect of social welfare on sustainable economic development based on the evolution of the main economic and social indicators at the European level. The econometric methodology used is based on the application of linear regressions on panels of fixed effects data in order to highlight the vulnerability aspects in economic development and poverty reduction from the perspective of social policies at the European level. The analysis will make it possible to highlight the main social policy guidelines at European level and to situate these approaches in the current uncertain context.

In this scientific endeavour, the minimum wage is discussed, including its effects and implications on the labour market. The minimum wage has been a concern not only for researchers but also for policy makers in government institutions. The minimum wage is also a concern of the European Union, which opts for adequate minimum wages at Member State level that cover the needs of the employee and reduce the poverty level of the employee. The minimum wage also has implications for employment levels, as higher national or sectoral minimum wages make jobs more attractive and lead to sustainable employment. In order to analyse the minimum wage at national level and by field of activity in the Republic of Moldova, data provided by the National Bureau of Statistics were used. The results of the investigations showed clear discrepancies between the minimum wage and the average gross monthly wage in several fields of activity. In many areas of activity, the share of employees whose average gross monthly wage is close to the minimum wage exceeds 30%, and in some fields of the economy - even 50%, which increases the vulnerability of these employees.

Legislation refers to a law or a set of laws, but also to a process of making or enacting laws. Foundation of administration in today's social order, legislation has a significant impact on people's lives and the functioning of organizations. Legislation is expressed in different forms. Every country in the world has its own legislation. The Romanian legal framework includes the following sources of law: the Constitution of Romania, legislation adopted by Parliament, decrees of the President of Romania, legislative acts of the Government, legislative acts issued by central government, acts of the autonomous administrative authorities, legislative acts issued by local government authorities. This article highlights the legal and regulatory framework of accounting in Romania. The current Romanian accounting system is dualist, comprising financial accounting or external accounting, and management accounting or internal accounting. Accounting Law no. 82 of 1991, republished in 2008, with subsequent amendments and additions, is the main legislative instrument for all entities obliged to keep accounts. For the organization and management of the accounting of public sector entities, as well as for the organization and management of the accounting of private sector entities, the Ministry of Public Finance has developed accounting regulations, approved by orders of the Minister of Public Finance. For each type of entity there are specific regulations. The results consist in providing the main legal accounting regulations for both public and private sector entities, with the aim of assisting accounting economists and all those interested in the field of accounting. It is important not only to know the legislation in force for the accounting field, but also to have that legislation updated.

The attractiveness of an economic branch refers to its potential to generate profits and attract investment, this being analyzed considering the following factors: economic structure, market conditions, competition and last but not least government regulations and policies. The purpose of the article is to highlight some aspects related to the main competitive forces of an economic branch, respectively: the entry of new competitors, the threat of substitute products, the bargaining power of buyers, the bargaining power of suppliers and the rivalry between existing competitors. Cooperation, as well as the manner of action of companies in the competitive environment, influence the behavior and results of the activities in the competitive sphere. The five competitive forces form Porter's model, which is a strategic analysis tool that helps assess the competitiveness of an industry. A well-founded analysis of these forces helps to understand the dynamics of the market in which the company operates and leads it to adopt effective strategies to obtain a competitive advantage. The collective intensity of these five competitive forces determines the ability of firms in an industry to achieve, on average, rates of return on investment above the cost of capital. The five forces determine the profitability of the branch because they influence, within it, the prices, the costs and the investment that the firms have to make - i.e. The elements of return on investment.

The modernization of the management of public institutions faces difficulties on different leves, first one being that most of the strategic management studies are done on private firms. The private and public sector differ vastly. The first one is motivated by profit, competitiveness, growth and does not face the same challenges as the later, such as heightened public scrutiny, demands of transparency and a sense of entitlement from the public. As such, it is demanding to apply the same strategies used in the private sector to the public sector. The present article proposes the exploration of an appraisal system as a key strategy for improving the management of public institutions. In it’s self, an appraisal relies on first acknowledging one’s contribution, second, underlining the value of said contribution. By appreciating employees’ work we can encourage engagement, improve motivation, uplift performance, mediate a better relationship between the appraiser and the appraisee. Understanding the benefits of the appraisal on a basic level highlights it’s importance in obtaining an improved organizational dynamic in public institutions. Applying such a strategy into the management of public organizations can be quite challenging, with it being more so in regard to military institutions that rely heavily on hierarchy and discipline, in which employees are required to follow orders, thus diminishing their sense of a worthy input.

The aim of this paper is to investigate the implications of financial and banking marketing on the Romanian labor market and the impact it has on the financial service. The changes that have taken place in recent years will significantly transform the financial and banking services landscape, the evolution and development of technologies, the emergence of mobile banking applications, online services, digital marketing as well as the need to train the workforce and adapt them to the new digital technologies have had an evolutionary impact on the Romanian labor market. Financial banking marketing plays a crucial role in the dynamics of the labor market in Romania, with significant implications on labor supply and demand. On the one hand, the marketing strategies adopted by financial institutions can influence the behavior of consumers and businesses, thus leading to a change in the structure of demand for certain professions and skills. All these transformations taking place on the Romanian labor market will lead to a change and an increase in the demand for financial and banking marketing professionals, to a dynamic consumer competition for products, but also to a challenge for the future of work in the dynamic Romanian economy.

Throughout our journey in life, the economy is a constant companion, reminding us that it cannot be controlled but rather understood and, to some extent, predicted. This notion often applies to cyclical crises. But can the same be said for non-cyclical crises? Has history revealed patterns or provided us with predictive tools? Can we, as economists and economic agents who rely on economic principles in our daily lives, act proactively rather than merely reactively in the face of such crises? Answering these questions requires a review of the most notable studies and theories on the subject. It also involves the author's personal perspective on the critical role of swift and accurate corrective policies, given that predictive policies, as discussed in the relevant section, may not be as effective in this type of crisis. The core of the study will present a proposed strategy for economic recovery, serving as a research topic using various methodological approaches. The analysis will focus on the past, present, and future implications of the COVID-19 pandemic. The study will take into account both the international and European contexts.

In the introduction , we are making historical backgroundof the concept of the sustainable tourism. We explained also what requires the implementation of sustainaible tourism principles and also the aims of sustainable tourism. The article presents the main ideas of sustainable tourism – new form of tourism promoted by authorities, environmental and social institutions and international organizations. It implies taking into account economic, environmental, and socio-cultural aspect by planning and management of tourism. The article presents the main international events concerning this topic and also highlights negative effects of tourism that can be prevented by applying the principles of sustainable development.

Migration, a complex international phenomenon of amplitude, a factor in stimulating the globalization of markets, is a social process that has deeply influenced and influences today's society, millions of young people of different nationalities from various countries of emigration choosing the path of migration. The migration of young people from Romania is one of the main migrations to the west of the continent, a very dynamic migration, the approach of which requires a differentiated and complex vision. Through this study, the authors want to familiarize and determine the public interested in this field, to make them aware of the significance of sociological theories on migration, its causality and the socio-economic effects, as a result of it, for any country and especially for Romania. Using statistical-mathematical methods, the study is focused on a succinct analysis of the socio-economic implications of the phenomenon of youth migration from Romania. The age groups considered in the present study are between 18- 35 years. Since 1990, the migration of young people from Romania has increased exponentially as a result of the consequences of economic constraints and the poor opportunities offered by the dynamics of economic and social life. As a result, the consequences of young people's migration from Romania are much more complex than it might seem at first glance. The work ends with the presentation of the results obtained and the conclusions drawn from the research undertaken. For Romania, the migration of young people is a great loss, in the long term their migration affects the socio-economic development capacity of Romania, causes the decrease of the total population and the loss of an important volume of labor. In fact, every action has consequences, and so does migration!

This study examines the Romania's state aid policy after the country joined the European Union (EU) in 2007. With its membership, Romania's economic and regulatory environment underwent a dramatic change, bringing its policies into compliance with EU norms and laws. This research examines several types of state aid that Romania has put in place, such as grants, tax incentives, and guarantees, with the goals of promoting economic expansion, improving competitiveness, and reducing regional disparities. The study presents the government's response to the recognised market failures and the alignment with European trends through an extensive examination of official reports and statistical data. The results demonstrate that Romania's application of EU state aid regulations was in line with the EU framework and that the goals that many of the EU member states consider most significant are followed in the distribution of public support. The Romanian state aid policy recognises market failures (agriculture, energy savings and environmental protection, regional development) and attempts to direct public efforts to close the gaps, even though the total aid granted is not impressive when compared to developed economies and the aid's share of GDP is at a moderate level. In order to provide a comprehensive understanding of Romania's place in the European context, an overview analysis of member states state aid disbursments from 2007 to 2022 is provided. The paper inserts some policy recommendations to optimize state aid distribution and effectiveness, emphasizing the need for robust monitoring mechanisms, greater transparency, and alignment with broader EU objectives. This analysis provides valuable insights for policymakers, researchers, and stakeholders interested in the dynamics of state aid in Romania’s post-EU accession period.

The Covid-19 pandemic seems to be a catalyst for organizational reforms. The lived experience questions the HRM (Human Resource Management) model of post-Covid19 companies. This article shows, using a prospective phenomenological approach, the limit of the geographical contingency of HRM. The conclusions prove the need to implement a proactive, agile, socially responsible HRM, capable of guaranteeing the productive capacity of the company to ensure the continuity of its activities and to implement a prospective post-crisis strategy. HRM must “chameleonize” itself and become a HRM of social solidarity that mobilizes multitasking skills to preserve the productive capacity of the company before, during and after any crisis situation. This study use a sample of 30 companies with semi-structured interviews with HR managers or officers. The research method used is content analyse. The most important activities for companies in Cameroun in the perception of HR managers from this country are using a predictive management, having a flexible and pro-responsive to crisis and adaptation for employees safety. The lessons learned from Covid19 show that it is becoming inevitable for companies to demonstrate agility and humanity. However, the subjective nature of the phenomenological approach and the prospective nature of the study are its main limitations.

The paper outlines a presentation regarding the theoretical aspects of sustainable corporate performance, the determinants of it, as well a bibliometric analysis of the determinants of sustainable corporate performance. The main objective of this work is represented by the study of the term sustainable corporate performance, the presentation of the different forms of the organizations performance: financial performance, social performance, environmental performance. The last part of the paper includes the bibliometric analysis of the main determinants of sustainable corporate performance from the perspective of the co-author and bibliographic coupling. The co-author analysis was carried out from all 3 perspectives, namely, author, country and organizations, the bibliographic coupling analysis was carried out from the perspective of the number of documents and citations. The main research method in the elaboration of this paper was the documentation and use of the bibliometric analysis software VOSviewer. The main studies carried out in the field by different researchers were analyzed

The Common Agricultural Policy (CAP) in the European Union aims to address the challenges faced by the agricultural sector. The new CAP focuses on the central role of farms and farmers in addressing climate change, preserving rural landscapes, and ensuring food quality. It is very important to understand which are the main production area in agriculture in EU and from this paper we can conclude that cereals with milk production and winery are the motor of the industry. We analyse agriculture industry because it is considered the most important industry in EU due the various implications also in other industries.

This study investigates the potential integration of Environmental, Social, and Governance (ESG) reporting into the existing Internal Managerial Control System within Romanian public institutions. Currently, these institutions are mandated to submit comprehensive internal control reports annually to maintain transparency, accountability, and efficiency. Given the rising global importance of ESG factors, this paper explores how incorporating ESG metrics can enhance the quality and scope of these reports. The research examines the benefits and challenges of this integration, drawing on best practices from countries like Sweden, where ESG reporting frameworks such as the Global Reporting Initiative (GRI) and the Task Force on Climate-related Financial Disclosures (TCFD) are already well-established. The study highlights that integrating ESG reporting can provide a more holistic view of institutional performance, encompassing financial and non-financial aspects, thereby promoting sustainable practices and aligning with international standards. Challenges such as the need for additional resources and the establishment of dedicated structures are acknowledged, but the long-term benefits—improved governance, enhanced environmental performance, and greater social responsibility—outweigh these initial hurdles. The findings suggest that adopting ESG reporting in Romanian public institutions can significantly contribute to a more transparent, accountable, and sustainable public sector, ultimately benefiting society at large.

Modern management systems increasingly rely on monitoring and its diverse forms of implementation. To some extent today, it can be argued that everything is monitoring with a view to the obtainment of reliable information and knowledge of what has to be done for the achievement of the desired sustainable development. In this line of thinking, tourism is no exception, both at the company level and at the destination level. The need for the creation of a management system for montoring the national tourism of destination Bulgaria and the conceptual vision of its development are the main purpose of writing this paper. The authors believe that the time for this solution has already come and there is nothing to delay any longer.

The article addresses the main problem of accounting and taxation of intermediate and annual dividends in commercial companies in the Republic of Moldova. In particular, the aspects aimed at determining the basis for calculating dividends, perfecting documents, reflecting in the accounting accounts the distribution and payment of dividends, and presenting related information in the financial statements are being investigated. Furthermore, issues of accounting for dividends paid in excess, the calculation of incentive payments assimilated to dividends, the settlement of debts related to dividends with an expired statute of limitations, and the fiscal aspects of dividend operations are examined. Scientific research methods are used in the study, such as the analysis of legal, accounting, and fiscal aspects related to intermediate and annual dividends in commercial companies from the Republic of Moldova and the accounting treatment of operations with dividends depending on the period of calculation and payment, synthesis of related information, comparison to identify the correct way of accounting and financial reporting, inductive method to identify solutions. The results of the research present suggestions regarding improving the accounting and taxation of dividends that will ensure a higher level of truthfulness, transparency, and comparability of information related to dividends, as well as the correctness of the calculation of tax obligations.

This paper investigates corruption in Eastern Europe and Central Asia. Using World Bank’s BEEPS IV and BEEPS V surveys, we investigate the degree of corruption in these countries for different industries. We focus on the manufacturing sector, the services sector, and the core sector, and focus on corruption related to customs/imports, courts, and taxes/tax collection. We find that the overall degree of corruption for all three sectors is somewhere between “seldom” and “never”. Our results show that, for all three sectors, the degree of corruption is the highest in taxes/tax collection and the lowest in courts. Again, for all three sectors, shareholding firms with shares traded in the stock market and limited partnerships suffer the most. While for the manufacturing and services sectors, larger firms suffer the most, for the core sector, medium-sized firms suffer the most. When we compare the manufacturing sector to the other sectors, we find that while the overall level of corruption is similar in the manufacturing sector and the other sectors, manufacturers face a higher degree of corruption in transactions related to customs/imports and taxes/tax collection when compared to the other sectors. We do not find any significant difference between the manufacturing sector and the other sectors with respect to the degree of corruption related to courts. Overall, our findings indicate that policymakers in the region need to protect manufacturers from requests/demands for additional payments or gifts by customs authorities and/or by tax collectors and auditors.

In this scientific approach, vocational training for the unemployed is addressed as an active labour market policy contributing to sustainable employment. In this context, the forms of vocational training in which the unemployed can be involved are presented, increasing their chances of employment. Vocational qualification and retraining courses, on-the-job training and vocational traineeships as types of vocational training are analysed in dynamics, in the case of the Republic of Moldova. In order to assess the overall situation of vocational training of the unemployed in the Republic of Moldova, statistical data were extracted from the annual reports of the National Employment Agency. A questionnaire was also used to determine the degree of involvement of companies in the vocational training of the unemployed. The survey included 350 companies in the Republic of Moldova. The results obtained from the questionnaire show that organizations have certain reluctance to participate in the process of vocational training of the unemployed. Similarly, the results show that the involvement of organisations in the process of training the unemployed does not depend on their location, or size, or field of activity.

The paper has as objective to highlighting the importance of the sustainable supply chains in the challeging of making the shift to a circular economy, especially for companies whose structures, strategies, operations and supply chains are deeply rooted in the linear approach. Sustainable supply chains continue to be an important concern globally for both governments and investors. The geopolitical tensions and the effects of the supply blocks caused by Covid-19 continue to highlight the fragility of the global economy from this point of view and the need to understand and strengthen the connections along the supply chains. The sustainability of the supply chain is very important in particular given the paradigm of the circular supply chain that offers opportunities to improve the economic performance.

The budget deficit is a quasi-generalized constant of the contemporary world. Like any fundamental concept, it has been the subject of study in various schools of economic thought and thus its content has been reconsidered over time. In our analysis we aim to provide a diagnosis of the budget balance over the period and of the factors having an impact on its structure and effects, with a view to capturing the process in both static and dynamic terms. Finally, we hope to formulate some conclusions and projections on the effects of the budget deficit on the national economy,