European Journal of Business Science and Technology - Latest articles
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GAM Modelling of Daily Number of Traffic Accidents as a Function of Meteorological Variables in the Czech Republic
Petra Kolísková, Jiøí Neubauer
European Journal of Business Science and Technology 2025, 11(1):23-38 | DOI: 10.11118/ejobsat.2024.014 
Meteorological conditions exert a considerable influence on traffic patterns. This paper examines the influence of meteorological variables on the daily number of traffic accidents requiring fire brigade intervention. The influence of meteorological variables, including maximum temperature, wind speed, air pressure, precipitation, snow cover and sunshine, was examined. A Generalized Additive Model for variables with a Poisson distribution was employed for modelling purposes, as this allows for the representation of non-linear dependencies. The analysis demonstrates that the lowest incidence of accidents occurs at temperatures approximating 10 °C. The...
Substitution between Accrual and Real Earnings Management: Impact of Firm Characteristics, Audit Quality, and Institutions
Pham Duc Cuong, Duong Thi Chi
European Journal of Business Science and Technology 2025, 11(1):67-84 | DOI: 10.11118/ejobsat.2025.006
We study the trade-off between real earnings management activities (REM) and accrual-based earnings management (AEM) among newly listed Vietnamese firms from 2009 to 2019. First, we found that firms exhibit REM as well as AEM around listing events to beat earnings targets. We further explore whether managers use REM and AEM as substitutes, considering both internal factors- firms’ characteristics and external factors like audit quality and institutional environments. Our results indicate that companies employ a greater amount of AEM and less REM when they have a higher firm size, measured by total assets, experience higher levels of liquidity....
The Role of REIT Dividend Policy on Ex-Ante Portfolio Allocation
Metin İlbasmıº
European Journal of Business Science and Technology 2025, 11(1):39-66 | DOI: 10.11118/ejobsat.2025.002
To test the diversification benefits of REIT sub-groups formed based on dividend payout ratios, we forecast ex-ante variance-covariance matrices using a rolling window correlation and a DCC model. Regression-based mean-variance spanning tests, mean-variance efficient frontiers, and a minimum variance portfolio allocation approach using ex-ante optimization frameworks are considered. A major finding of the current study is the dividend payout ratios of REITs affect REIT market diversification benefits. Apart from extending stock market index investors’ investment universe and providing more efficient (higher profitability and/or lower risk) portfolios,...
Social Networks and Conspicuous Food Consumption: A Comparative Study Among Generations Z, X, and Y in the Czech Republic
Jana Brenkusová Pavelková, Jana Turèínková, Jakub ©ácha
European Journal of Business Science and Technology 2025, 11(1):85-98 | DOI: 10.11118/ejobsat.2025.004
This study examines the links between conspicuous consumption and user activity on social media platforms, focusing on Generations Z, Y, and X. A set of statements focusing on conspicuous consumption, consumer behaviour on social media, and their food consumption habits was developed and tested on a sample of 679 respondents from the Czech Republic comprising these generations. Factor analysis was used to group tested statements into factors, and regression analysis was used to examine their association with salient consumption patterns. While the link between social media activity and conspicuous consumption was only confirmed for Generation X, the...
3D Geospatial Data Visualization in VR
Michal Mitter, Jaromír Landa, Ivo Pisaøovic, David Procházka, Michael Varga, Franti¹ek Daøena
European Journal of Business Science and Technology 2025, 11(1):129-140 | DOI: 10.11118/ejobsat.2025.005
The use of Virtual Reality (VR) to visualize data is increasingly common in various fields, from medical science to education. However, visualization of geospatial data in VR is still not handled well. GIS data comes in various formats and converting them to 3D can be challenging. The choice of a format capable of streaming large amounts of spatial data in the VR scene is crucial. However, the challenge lies in ensuring the reusability of the presented scenes with different GIS data. Most applications (including the 3D scene models) are created for a single use case and do not allow for simple interchangeability of presented data. This article proposes...
Evaluation and Simulation Methods for Ambidexterity Engineering of Digital Supply Chain Systems
Jochen Nuerk, Franti¹ek Daøena
European Journal of Business Science and Technology 2025, 11(1):99-128 | DOI: 10.11118/ejobsat.2025.003
Global mergers and faster business cycles create weakly harmonized supply chain (SC) systems. Industry 4.0’s smart digitalization opportunities significantly alter business model innovation rates. Consequently, the complexity of aligning value exploration and exploitation has increased, often missing the needed integration level. A holistic systems engineering (SE)-driven methodology for innovation, transformation, and optimizing smart SC systems is not available so far. Case studies at SAP SE's development organization for Industry 4.0 SCM solutions and three automotive companies explored objectives, obstacles, and methods for digital transformation....
Influence of Product Price on Consumer Perceptions of the Authenticity of Sustainability Labels
Julian Hoesen
European Journal of Business Science and Technology 2025, 11(1):5-22 | DOI: 10.11118/ejobsat.2025.001
In the German-speaking food market, a significant gap exists between consumer preference for sustainable options and purchasing behavior, primarily due to skepticism about the authenticity of sustainability claims. In a study involving 368 participants from Germany, Austria, and Switzerland, the influence of price on the perceived authenticity of sustainability labels was examined. Participants were surveyed on their explicit attitudes, while their implicit attitudes were assessed using the implicit association test (IAT). Results show that a higher price significantly improves the perception of a product's authenticity. Socioeconomic factors, such...
(Out)smart the Peer Group in Market Comparison: Building Business Valuation Multiples by Machine Learning
Veronika Staòková
European Journal of Business Science and Technology 2024, 10(2):156-172 | DOI: 10.11118/ejobsat.2024.011
Traditionally, market comparison requires identifying a peer group, which still poses unresolved practical difficulties today. This research seeks to provide valuable insights into the practicality, efficiency, and accuracy of machine learning in valuing a company. It employs a state-of-the-art machine learning technique, Gradient Boosting Decision Trees (GBDT), to predict the valuation multiple directly. A yearly dataset of U.S. public companies from 1980–2021 was used. The most common multiples (EV/EBITDA, EV/EBIT, P/E, and EV/Sales) were tested. The performance of GBDT was assessed against an industry-based method. GBDT consistently outperformed...
Strategic Media Messaging of Startups and Entrepreneurs Before Initial Public Offering (IPO)
Itzhak Mashiah
European Journal of Business Science and Technology 2024, 10(2):205-224 | DOI: 10.11118/ejobsat.2024.008
This research delves into effective messaging strategies employed by companies to shape their reputation in anticipation of an initial public offering (IPO). Drawing insights from the analysis of 1162 media headlines encompassing 30 brands during their IPOs on NASDAQ or NYSE, the study offers valuable recommendations for entrepreneurs and startups engaging in rhetorical preparations for an IPO. By synthesizing the examination of successful companies' media framing with pertinent well-known communication frameworks (strategic communication and the PESO model), the article introduces the new 6I's model. This model serves as a comprehensive marketing...
Towards a Metaverse Shopping Revolution: A Mixed-Method Study on Factors Influencing Consumers’ Intentions to Adopt Metaverse as Shopping Marketplace
Lisa Hofmann, Yaser Al-Dhabyani, Erdal Arslan
European Journal of Business Science and Technology 2024, 10(2):129-155 | DOI: 10.11118/ejobsat.2024.013
This study aims to understand the factors influencing consumers' intention to adopt the metaverse as a marketplace for physical products and the role of trust specifically focusing on the generation aged 18–28. It also explores the moderating role of trust towards the company Meta in these relationships. An exploratory sequential mixed-method research design was employed to develop an encompassing conceptual model, enhance hypothesis formulation, and validate findings through triangulation. In the first phase of the study, in-depth interviews were conducted with professionals and students (n=11), and in the second phase, Likert-type questionnaire...
Improving IoT Management with Blockchain: Smart Home Access Control
Andrej Gono, Ivo Pisaøovic, Martin Zejda, Jaromír Landa, David Procházka
European Journal of Business Science and Technology 2024, 10(2):225-241 | DOI: 10.11118/ejobsat.2024.012
Smart IoT devices, such as lights, locks, washing machines, security cameras, etc., are becoming omnipresent in households and companies across all industries. However, most of these devices communicate over non-secure local protocols or via cloud services where security policies are not transparent. Vulnerabilities may lead to unauthorized access to such IoT devices. Blockchain is a technology that brings security by design and can be exploited also in the area of controlling access to IoT devices. The goal of the paper is to test the use of blockchain with IoT devices to increase the security of device usage while ensuring that the user experience...
Empirical Evidence About Earnings Management Behaviour Under the Covid-19 Period in Algerian Companies
Bilal Kimouche, Hemza Boussenna
European Journal of Business Science and Technology 2024, 10(2):242-257 | DOI: 10.11118/ejobsat.2024.007
This study explores the influence of the Covid-19 period on earnings management behaviour (EM) for 150 Algerian companies. The period of study (2018 to 2021) was divided into the pre-pandemic period (2018 and 2019) and the pandemic period (2020 and 2021). The study used two measures for earnings management: discretionary accruals (accounting EM) and abnormal cash flows (real EM). The results indicate that accounting EM decreased during Covid-19 compared to pre-Covid-19. But for real EM, it was the opposite; it has seen an increase during Covid-19. These results have many implications regarding the commitments of various contributors to preparing financial...
Examining the Impact of Organizational and Customers’ Operant Resources on Word-of-Mouth in Preventative Healthcare Service: A Comprehensive Analysis on Children Immunization
Taimoor Khan Mahsud, Mahwish J. Khan
European Journal of Business Science and Technology 2024, 10(2):185-204 | DOI: 10.11118/ejobsat.2024.009
According to the service-dominant logic, the customer always contributes their resources to service delivery. This study adopts the service-dominant logic approach to social marketing in the context of preventative healthcare services for children immunization and investigates the influence of organizational (administrative quality, technical quality, and interpersonal quality) and customer operant resources (cultural resources, physical resources, and social resources) on word-of-mouth. Hierarchical multiple regression was used to test our hypotheses and the evidence indicated that all three quality dimensions of organizational operant resources significantly...
Improving Automated Categorization of Customer Requests with Recent Advances in Natural Language Processing
Filip Koukal, Franti¹ek Daøena, Roman Je¾dík, Jan Pøichystal
European Journal of Business Science and Technology 2024, 10(2):173-184 | DOI: 10.11118/ejobsat.2024.010
In this paper, we focus on the categorization of tickets in service desk systems. We employ modern neural network-based artificial intelligence methods to improve the performance of current systems and address typical problems in the domain. Special attention is paid to balancing the ticket categories, selecting a suitable representation of text data, and choosing a classification model. Based on experiments with two real-world datasets, we conclude that text preprocessing, balancing the ticket categories, and using the representations of texts based on fine-tuned transformers are crucial for building successful classifiers in this domain. Although...
The Risk Awareness of Sovereign Wealth Funds in Relation to ESG Assets: Do Biggest World Institutional Investors Act Sustainably?
Marty-Jörn Klein, Gabriela Chmelíková, Jozef Palkoviè
European Journal of Business Science and Technology 2024, 10(1):5-24 | DOI: 10.11118/ejobsat.2024.003
This paper investigates the dependence of the investment behavior of Sovereign Wealth Funds (SWFs) on the Environmental, Social, and Governance (ESG) performance of their underlying investments in public equity holdings during the period of 2007 to 2022 collectively overseeing a substantial 71% of total public equity holding investments by SWFs globally. The unique data set with ESG control variables consist of mainly self-reported Corporate Social Responsibility (CSR) ESG information (ESG rating from Refinitiv/LSEG) and dynamic risk assessed ESG information purely based on external evaluation of the firms (Reputational Risk Indicator from RepRisk)....
Impact of the COVID-19 Pandemic on United States’ Hotel Productivity: A Multi-Period Analysis
Szilvia Vanessza Schalk-Nador
European Journal of Business Science and Technology 2024, 10(1):107-122 | DOI: 10.11118/ejobsat.2023.016
This paper uses the Malmquist Productivity Index to evaluate the impact of the COVID-19 pandemic on hotel productivity. It decomposes total factor productivity change (TFPC) into technical efficiency, pure and scale efficiency, and technical change to conclude on productivity growth before and after the outbreak of the pandemic. 112 hotels in four cities of the United States between 2011–2021 were subject to the analysis, using a multi-input (room, labor, and F&B costs) multi-output (accommodation, F&B, and total revenue) DEA-Malmquist model. The pandemic did not have an adverse effect on hotel productivity change, mainly due to the developments attributed...
Indirect Cost in Should Cost Calculations – How Carmaker’s Cost Engineers See It
Remo Rossi, David Hampel
European Journal of Business Science and Technology 2024, 10(1):96-106 | DOI: 10.11118/ejobsat.2024.006
In a world of intense competition, automotive manufacturers are continually increasing their outsourcing activities and, as a result, automotive companies have built extensive cost engineering departments within their organisations. Staff in these units provide Should Cost Calculations for externally manufactured components, which are utilized as supplier targets to support buyers in fact-based negotiations. This paper aims to explore potential differences in the direct and indirect cost categories in the context of Should Cost Calculations. Based on a sample survey among cost engineers, it was possible to determine differences in cost knowledge, risk...
The Mediating Role of Brand Attachment on the Relationship between Brand Experience and Customer Citizenship Behavior
Amira Gamal Ahmed, Ahmed Yehia Ebeid, Mahmoud Fawzy Mohamed
European Journal of Business Science and Technology 2024, 10(1):66-80 | DOI: 10.11118/ejobsat.2024.001
Despite substantial research on the antecedents of the relationship between brand experience and customer citizenship behavior, the effect of brand attachment remains a neglected subject in marketing research. Using social exchange theory (SET) and attachment theory, this study analyses the role of brand attachment as a mediator in the relationship between brand experience and customer citizenship behavior. Specifically, is to investigate the mediating role of brand attachment in the relationship between brand experience and customer citizenship behavior to clarify the role of the different dimensions of brand values among the customers of fast-food...
Digitalization in Engineering Firms: The Role and Impact of Building Information Modeling on Productivity
Gentjana Rexhaj, Lubo¹ Støelec
European Journal of Business Science and Technology 2024, 10(1):47-65 | DOI: 10.11118/ejobsat.2024.005
In recent decades, digitalization has become increasingly important in the construction industry. Building Information Modeling (BIM), a digital planning method, is becoming increasingly important in the infrastructure sector. Infrastructure planning implementation is complex, so engineering firms still use conventional planning. This study sheds light on the influence of Building Information Modelling (BIM) on increasing productivity in the construction industry. Through a combination of qualitative interviews and quantitative data analysis, an in-depth understanding of the implementation processes, challenges and benefits of BIM was developed. Particular...
Enhancing Market Value Estimation for Privately Held Companies: Differentiated Multipliers in the Czech Brewing Industry
Michal Drábek, Pavel Syrovátka
European Journal of Business Science and Technology 2024, 10(1):25-46 | DOI: 10.11118/ejobsat.2024.002
The paper focuses on valuation multipliers for privately held companies, with the aim of developing and applying a methodological procedure to improve the accuracy of estimating the market value. This improvement is achieved through the differentiation of an industry multiplier using financial decomposition. We applied the proposed methodology enhancements to a dataset comprising 50 Czech breweries, estimating their market value using the discounted cash flow method. Importantly, our proposed modification to the methodology is not limited to this sample of breweries; its nature makes it a generally applicable procedure. Our results demonstrate that...
Perspectives of Farm Development Under the War Conditions in Ukraine
Volodymyr Anatoliiovych Kolodiichuk, Ivan Mykolaiovych Tofan, Iryna Anatoliivna Kolodiichuk, Igor Volodymyrovych Voronyj
European Journal of Business Science and Technology 2024, 10(1):81-95 | DOI: 10.11118/ejobsat.2024.004
The article discusses the existing structure of agricultural production in Ukraine and defines the key role of farmers in providing the population with food products at the beginning of a full-scale war. The high adaptability of the small goods sector of the agrarian economy and insufficient attention to its development in the pre-war period have been proven. An assessment of the main challenges, general losses and measures taken regarding the development of agriculture in Ukraine during the war period is given, and the importance of international financial support is emphasized. The need for a balanced model of the corporate and small commodity sectors...
Gender Differences in Career Planning among Young Adults
Ildikó Rudnák, Alena Èarva¹ová, Judit Garamvölgyi, Garegin Hambardzumyan, Liana Vardanyan, Michaela Beran Sládkayová
European Journal of Business Science and Technology 2023, 9(2):231-248 | DOI: 10.11118/ejobsat.2023.012
Gender equality is the state where both men and women get equal opportunities, rights and status. Our exploratory research focuses on the situation in Armenia, the Czech Republic, Hungary and Slovakia. Unlike usual researches where traditionally countries from the West and East of Europe are investigated our exploratory research focuses on countries from the Eastern Block. These countries support gender equality in the labor market; however, they contribute in strengthening the traditional family model with the length of parental leave. Based on our exploratory research we can identify patterns showing that the opinion of society about the distribution...
The Effect of Import on Export Growth and Convergence: A Spatial Analysis in Türkiye
Ömer Tarık Gençosmanoğlu, Kemal Buğra Yamanoğlu
European Journal of Business Science and Technology 2023, 9(2):141-164 | DOI: 10.11118/ejobsat.2023.011
Recent studies tend to scrutinize the convergence and growth patterns of various socioeconomic variables among countries or regions, as well as their per capita income. This study as a new approach examines the growth rate and convergence inclination of real per capita exports among the 81 provinces of Türkiye for the period 2004–2021. The role of imports and their subcategories (intermediate, capital, and consumer goods) is also considered in this context. The results of the non-spatial panel model show that real per capita exports converge among provinces in both absolute and conditional terms. On the other hand, while total imports as well...
Cause-Related Marketing as a Corporate Social Responsibility Initiative: Consumer Perceptions of the Campaign
Karolina Tuèková, Tereza Balcarová
European Journal of Business Science and Technology 2023, 9(2):186-204 | DOI: 10.11118/ejobsat.2023.010
As society becomes more and more socially conscious, corporate social responsibility may be one of the factors influencing the decision to buy. In the 21st century, cause-related marketing as one of the possible initiatives of a socially responsible approach became a common part of building a relationship with customers. But what are the differences in the perception of a cause-related marketing campaign among consumers with different levels of donation size with regard to gender distribution? Using existing studies, the responses concerning the perception of the campaign supporting a collection for the Zoo in the Czech capital were evaluated through...
A Model for Assessing Digital Transformation Maturity for Service Provider Organizations
Roman Teichert
European Journal of Business Science and Technology 2023, 9(2):205-230 | DOI: 10.11118/ejobsat.2023.014
The research presented aims to close a gap in the measurement of digital maturity for the domain of service which was identified through a systematic literature review. The study provides a holistic Digital Service Transformation Maturity Self-Assessment Model for service provider companies in a B2B-context based on analysis of different digital maturity models and by means of a qualitative approach through expert feedback in a Delphi-process and additional complementary literature review to define maturity assessment items. The presented Digital Service Transformation Maturity Model comprises 8 factors, 27 subfactors and 403 related specific assessment...
Learning Outcomes Achievement of Management Accounting Course
Alwan Sri Kustono, Rochman Effendi, Anggun Ayu Wangi
European Journal of Business Science and Technology 2023, 9(2):266-281 | DOI: 10.11118/ejobsat.2023.013
This study aims to prove the factors that affect learning outcomes achievement of management accounting courses. The sample is accounting students at four major universities in East Java, Indonesia. The questionnaire was filled out using a Google form, and the number of samples was 417 respondents. Hypothesis testing using partial least squares. Nine hypotheses were tested with gender as a moderating variable. Performance expectations and effort affect student intensity and subsequently affect active participation. Changes in facilitation conditions and the level of participation affect the achievement of learning outcomes. Different from prediction,...
Moderating Effect of M-Banking Apps Users’ Demographic Variables on the Relationship between the Ease of Use and Brand Trust
Md. Rahat Khan, Sanjoy Kumar Roy
European Journal of Business Science and Technology 2023, 9(2):249-265 | DOI: 10.11118/ejobsat.2023.015
The study aimed to determine the impact of m-banking apps’ ease of use on brand trust, including the moderating effect of users’ demographic factors on that relationship. The research was quantitative, where 400 samples were selected based on simple random sampling. The participants were m-banking app users based on their availability and popularity and concentrated on the Dhaka division. The collected data were processed through the SPSS V23 and SmartPLS. Structural equation modeling (SEM) was run to test the hypothesis. The study revealed a positive significant impact of m-banking apps’ ease of use on brand trust. In addition, gender...
Fuzzy Model for Detection of Fraudulent Financial Statements: A Case Study of Lithuanian Micro and Small Enterprises
Erika Besusparienė, Vesa A. Niskanen
European Journal of Business Science and Technology 2023, 9(2):165-185 | DOI: 10.11118/ejobsat.2023.008
90 per cent of enterprises in the European Union (EU), including Lithuania, are small enterprises that prepare the abridged financial statements. Verifying the fairness of these reports for stakeholders is challenged due to the lack of data. The aim of this research is to develop a novel model based on fuzzy logic for detecting fraudulent financial statements in micro and small enterprises by using financial ratios suitable for abridged financial statements. The results have shown that the developed fuzzy model enables estimation of the level of fraud in each individual element of accounting. Identifying each fraudulent accounting element allows us...
Working Capital Management and Performance in Financially Dependent Firms: Evidence from Developing Asian Economies
Bahadır Karakoç
European Journal of Business Science and Technology 2023, 9(1):37-55 | DOI: 10.11118/ejobsat.2023.005
This paper examines the impact of working capital management on firm performance in nine developing economies in Asia. Specifically, the study focuses on two critical aspects: the management of trade credit and inventory. The empirical findings reveal that effective management of these components significantly enhances the performance of financially dependent firms. In fact, during critical periods such as the 2008 financial crisis, these management strategies helped to boost performance considerably. However, no comparable association was observed in other firms within the sample. These results suggest that appropriate handling of trade credit and...
Does Better Sports Performance Generate Higher Revenues in the English Premier League? A Panel Data Approach
Marina Schloesser, Václav Adamec
European Journal of Business Science and Technology 2023, 9(1):21-36 | DOI: 10.11118/ejobsat.2023.006
In this paper, we examined the relationship of sports performance and revenue generation in the English Premier League (EPL) to understand how performance on the field impacts financial performance of professional football clubs. Further, we verified if increased wage expenses help improve sports performance. Independent dynamic models were estimated by GMM on panel data including N = 28 EPL teams and on a reduced data set excluding the top six teams (N = 22), spanning from the 2008/2009 to 2018/2019 seasons (T = 11). The results of the GMM models confirmed that sports performance and revenue generation significantly correlate. Teams with better sports...