Template-Type: ReDIF-Paper 1.0 Author-Name: Erik Gogola Author-Name-First: Erik Author-Name-Last: Gogola Author-Email: erik.gogola@euba.sk Author-Workplace-Name: University of Economics in Bratislava Title: Financial Vulnerability of Slovak Households: Evidence from household balance sheet stress tests using HFCS microdata Abstract: The increase in indebtedness of Slovak households, combined with the recent significant rise in interest rates and high inflation, will result in greater pressure on households to fulfil all their debt obligations. In our thesis, we utilised microeconomic data from the last available Household Financing and Consumption Survey (HFCS). We identify financially vulnerable households based on the concept of financial margin. Furthermore, we conducted microsimulations stress tests to assess households? resilience against interest rate and inflation shocks. These tests were designed to investigate the impact of these shocks on household vulnerability and subsequently on financial stability. Our findings show that inflation shocks have a more pronounced impact on the growth rate of indebted households with negative financial margin and the probability of default compared to interest rate shocks. In contrast, the impact of interest rate shocks on aggregate debt amount at risk is greater than that of inflation shocks. It is important to note that while an interest rate shock has a more pronounced effect on debt at risk, the actual bank losses are not affected by the change in interest rates. The increase in bank actual loan losses, caused by households defaulting on their loan payments, is caused only by inflation shocks. Furthermore, the entirety of the loan losses incurred by the banks can be attributed to non-mortgage loans, with no actual loan losses resulting from mortgage loans prior to and even after the application of the shocks. The results of the stress testing analysis indicate that the credit risk associated with the Slovak household sector does not represent a significant threat to the stability of the financial system. This is due to the fact that the majority of Slovak household liabilities are covered by substantial real assets held by households. Length: 18 pages Creation-Date: 0000-00 Publication-Status: Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Vienna, Nov -0001, pages 1-18 File-URL: https://iises.net/proceedings/international-conference-on-economics-finance-and-business-vienna-2024/table-of-content/detail?cid=143&iid=001&rid=16308 File-Function: First version, 0000 Number: 14316305 Classification-JEL: D14, E43, G21 Keywords: Slovak household indebtedness, HFCS, household vulnerability, stress tests Handle: RePEc:sek:iefpro:14316305 Template-Type: ReDIF-Paper 1.0 Author-Name: Erik Gogola Author-Name-First: Erik Author-Name-Last: Gogola Author-Email: erik.gogola@euba.sk Author-Workplace-Name: University of Economics in Bratislava Title: The Impact of Economic Shocks on Financially Vulnerable Slovak Households: A Socio-Economic and Demographic Analysis Abstract: This study identifies financially vulnerable indebted Slovak households most at risk of defaulting on loan payments due to socio-economic and demographic factors. The recent economic shifts, including a surge in Slovakia's inflation rate peaking at 15.4% in February 2023, have exacerbated financial strain. Analysis of HFCS microdata shows increased household indebtedness, particularly mortgage debt, from 2011 to 2021. Households with negative financial margins, limited liquid assets, younger (16-34) and older (65+) age groups, single-person households, and those in the lowest income and wealth quintiles are most vulnerable. Logistic regression reveals that gross income is the most significant determinant of default probability, with higher income households being less likely to default. The study highlights the need for targeted policy measures to support these vulnerable groups and mitigate default risks. Length: 18 pages Creation-Date: 0000-00 Publication-Status: Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Vienna, Nov -0001, pages 19-36 File-URL: https://iises.net/proceedings/international-conference-on-economics-finance-and-business-vienna-2024/table-of-content/detail?cid=143&iid=002&rid=16324 File-Function: First version, 0000 Number: 14316324 Classification-JEL: D14, E43, C21 Keywords: Slovak household indebtedness, socio-economic and demographic factors HFCS, household vulnerability, logistic regression Handle: RePEc:sek:iefpro:14316324 Template-Type: ReDIF-Paper 1.0 Author-Name: Giuli Keshelashvili Author-Name-First: Giuli Author-Name-Last: Keshelashvili Author-Email: giuli.keshelashvili@tsu.ge Author-Workplace-Name: Ivane Javakhishvili Tbilisi State University Title: The Role of Business in Achieving Sustainable Development and Need of Changes in Managerial Attitude (the case of Georgia) Abstract: In an era of rapid global environmental change, the role of business in fostering sustainable development has become critical. This research investigates the influence of business practices on the sustainable development trajectory of Georgia, emphasizing the urgent need for a transformation in managerial attitudes to align with sustainability objectives. The study analyzes the challenges and opportunities that Georgian businesses face in integrating sustainability into their core strategies, a crucial aspect for achieving the Sustainable Development Goals (SDGs) set by the United Nations.Georgia's approach to sustainable development has been hindered by inadequate regulatory frameworks and a lack of institutional support, which has resulted in slow adoption rates of sustainable practices among local businesses. This paper explores the cultural and economic factors influencing this adoption and discusses the potential of governmental and non-governmental interventions to accelerate the process. The research method combines analytical, synthetic, and comparative approaches to assess the impact of business and consumer behaviors on sustainable development, utilizing a mixture of quantitative data from online surveys and qualitative insights from interviews and focus groups.Key findings suggest that while there is a growing awareness of sustainability among Georgian businesses, significant gaps in implementation persist. These gaps stem from a lack of detailed knowledge about the SDGs, coupled with cultural tendencies that favor short-term gains over long-term sustainability. The study recommends a multi-faceted approach to fostering sustainable business practices, including more robust government policies, increased educational efforts, and stronger incentives for businesses adopting sustainable practices.The paper concludes that for Georgia, adopting a more integrated and proactive approach to sustainability can not only enhance its environmental and social outcomes but also provide a strategic advantage in the global economy. By redefining managerial attitudes and business practices, Georgian enterprises can lead the region in sustainable development, contributing to both their economic success and the well-being of society. Length: 13 pages Creation-Date: 0000-00 Publication-Status: Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Vienna, Nov -0001, pages 37-49 File-URL: https://iises.net/proceedings/international-conference-on-economics-finance-and-business-vienna-2024/table-of-content/detail?cid=143&iid=003&rid=16153 File-Function: First version, 0000 Number: 14316153 Classification-JEL: M20, R11, M00 Keywords: Managerial Attitude, Sustainable Development, Business Opportunities, Customers Handle: RePEc:sek:iefpro:14316153 Template-Type: ReDIF-Paper 1.0 Author-Name: Blerta (Kristo) Nazarko Author-Name-First: Blerta (Kristo) Author-Name-Last: Nazarko Author-Email: kristoblerta@yahoo.com Author-Workplace-Name: European University of Tirana Title: Evaluation of the effectiveness of the activity of active economic enterprises with an impact on the progress of economic and social development in Albania using the DEA method Abstract: The aim of this study is to evaluate the efficiency of the productivity of the active enterprises that operate with their influence on the dynamics of the economic and social development processes on a county and regional basis. The performance evaluation aims to investigate their contribution to mitigating negative social aspects such as migration (net internal migration and external migration) with an impact on GDP growth, etc. The trend of displacement in large urban centers and departures from the country requires a special study evaluation. The study pertains to the period 2017-2021, which includes some variable factor sizes such as the number of economic enterprises per 1000 inhabitants that operate according to the economic structure, the rate of internal and external migration, the nominal GDP growth (in %) on a county basis and the region. The analysis based on counties and regions evaluates the efficiency and operational development potential of active enterprises classified according to the branches of their operating economic structure such as agriculture, industry and services. The conclusions found contribute to the improvement and the visions of the further expansion of the value capacity of economic enterprises, the need to expand classified micro, small and medium enterprises that enable greater employment, but also with premises for large operational enterprises. business. This study is also an alternative for more in-depth managerial studies on the role and impact of active enterprises and for the support they need in investments and the application of new technologies. Length: 11 pages Creation-Date: 0000-00 Publication-Status: Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Vienna, Nov -0001, pages 50-60 File-URL: https://iises.net/proceedings/international-conference-on-economics-finance-and-business-vienna-2024/table-of-content/detail?cid=143&iid=004&rid=16290 File-Function: First version, 0000 Number: 14316290 Classification-JEL: Keywords: active enterprise, DEA method, rate of internal migration and external migration, county, region Handle: RePEc:sek:iefpro:14316290 Template-Type: ReDIF-Paper 1.0 Author-Name: PICHYADA PHEUNPHA Author-Name-First: PICHYADA Author-Name-Last: PHEUNPHA Author-Email: PICHYADA.PP@GMAIL.COM Author-Workplace-Name: Faculty of Management Science, Ubon Ratchathani University Title: The Influence of Marketing Mix Factors Service Quality and the Corporate Image on the Loyalty of Pickup Truck Customers Abstract: The research aimed to study the influence of marketing mix, service quality, and corporate image on customer loyalty of Pickup trucks in Ubon Ratchathani province, Thailand. A questionnaire with a reliability coefficient (0.97) at a very high level was used in this study. Cluster sampling was collected from 400 customers from 5 careers in Ubon Ratchathani province: university students, entrepreneurs, company employees, workers, and civil servants. The statistics were descriptive, ANOVA, and multiple regression analysis. The results showed that different types of jobs did not differ in customer loyalty to Pickup Trucks (F = 1.51, sig = 0.19 > 0.05). The marketing mix, service quality, and corporate image can explain customer loyalty of Pickup Truck 74.5%. Ten sub-variables affect the loyalty of customers, which are the regression coefficient of trust (? = 0.32**), place (? = -0.22**), after-sale service (? = 0.18**), suggestions (? = 0.17**), promotion (? = 0.16**), access (? = 0.13*), satisfaction (? = 0.12*), and communication (? = 0.07*), respectively. Length: 20 pages Creation-Date: 0000-00 Publication-Status: Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Vienna, Nov -0001, pages 61-80 File-URL: https://iises.net/proceedings/international-conference-on-economics-finance-and-business-vienna-2024/table-of-content/detail?cid=143&iid=005&rid=16129 File-Function: First version, 0000 Number: 14316129 Classification-JEL: F23, L17, D40 Keywords: Corporate Image, Service Quality, Marketing Mix, Customer Loyalty, Pickup Truck Handle: RePEc:sek:iefpro:14316129 Template-Type: ReDIF-Paper 1.0 Author-Name: Marina Tkalec Author-Name-First: Marina Author-Name-Last: Tkalec Author-Email: mtkalec@eizg.hr Author-Workplace-Name: The Institute of Economics, zagreb Title: Inflation response to the COVID-19 pandemic and government interventions: Evidence from EU-27 Abstract: Consumer expenditure went through major shifts during the COVID-19 pandemic, but these were not reflected in household basket weights used for measuring inflation. Using real-time credit and debit transactions for the US, we update consumer expenditure for 27 EU member states on a month-by-month basis from January 2020 to December 2023. We thereby consider expenditure changes and calculate an alternative measure of inflation?inflation with the Covid consumption basket. We find that the Covid inflation rate in May 2020 is higher than the official CPI in 25 out of 27 countries. Our fixed-effects econometric exercise suggests that government intervention to fight the pandemic tended to decrease the Covid inflation rate, by as much as 0.05 percentage points in the whole sample, and by 0.18 percentage points in the year 2022 alone. Government response, containment and health, and stringency measures were statistically significant in reducing inflation, while economic support measures proved not to be correlated with Covid inflation in the whole sample. Length: 15 pages Creation-Date: 0000-00 Publication-Status: Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Vienna, Nov -0001, pages 81-95 File-URL: https://iises.net/proceedings/international-conference-on-economics-finance-and-business-vienna-2024/table-of-content/detail?cid=143&iid=006&rid=16251 File-Function: First version, 0000 Number: 14216251 Classification-JEL: E01, E21, E31 Keywords: consumption basket; COVID-19; inflation; pandemic Handle: RePEc:sek:iefpro:14216251 Template-Type: ReDIF-Paper 1.0 Author-Name: Mohammed Ahmar Uddin Author-Name-First: Mohammed Ahmar Author-Name-Last: Uddin Author-Email: ahmar@du.edu.om Author-Workplace-Name: Dhofar University Title: Financial Literacy, Financial Self Efficacy and Financial well being: The moderating role of procrastination Abstract: Financial well-being is the satisfaction an individual experiences with their financial position. This study investigated the effect of financial literacy and procrastination on financial well-being and the moderating role of Financial self-efficacy. Financial well-being was measured through the Consumer Financial Protection Bureau's measure of financial well-being. Data for the study was collected from 300 individuals using an online questionnaire. Structural Equation Model analysis was done using SmartPLS 4. The results showed that Financial self-efficacy [F.E.] is moderating the inverse relation of Procrastination [PROC] on Financial Wellbeing [F.W.] into a direct relation, but the effect of Financial Literacy [FL] is getting affected due to the moderation of FSE; it can be interpreted that the study sample contains the investors who are having behavioural biases which lead the F.W. to get reduced with the moderation of FSW on FL. This study provides insights for financial practitioners, educators, and policymakers and can help households improve their financial well-being. Length: 14 pages Creation-Date: 0000-00 Publication-Status: Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Vienna, Nov -0001, pages 96-109 File-URL: https://iises.net/proceedings/international-conference-on-economics-finance-and-business-vienna-2024/table-of-content/detail?cid=143&iid=007&rid=16123 File-Function: First version, 0000 Number: 14316123 Classification-JEL: D03, G00 Keywords: Financial Literacy; financial well-being; Financial Self-Efficacy; Procrastination Handle: RePEc:sek:iefpro:14316123 Template-Type: ReDIF-Paper 1.0 Author-Name: Elvira Vieira Author-Name-First: Elvira Author-Name-Last: Vieira Author-Email: evieira@esce.ipvc.pt Author-Workplace-Name: ISAG ? European Business School, Porto / Research Center in Business Sciences and Tourism (CICET ? FCVC), Porto / Applied Management Research Unit (UNIAG), Instituto Politécnico de Bragança, Campus de Santa Apolónia / IPVC ? Polytechnic Institute of Viana Author-Name: Inês Azevedo Author-Name-First: Inês Author-Name-Last: Azevedo Author-Email: inesazevedo007@gmail.com Author-Workplace-Name: ISAG ? European Business School, Porto / Research Center in Business Sciences and Tourism (CICET ? FCVC), Porto Author-Name: Bárbara de Sousa Author-Name-First: Bárbara Author-Name-Last: de Sousa Author-Email: barbara.sousa@isag.pt Author-Workplace-Name: University of Santiago de Compostela, Santiago de Compostela, A Coruña / ISAG ? European Business School, Porto / Research Center in Business Sciences and Tourism (CICET ? FCVC), Porto / Applied Management Research Unit (UNIAG), Instituto Politécnico de B Author-Name: Ana Pinto Borges Author-Name-First: Ana Author-Name-Last: Pinto Borges Author-Email: anaborges@isag.pt Author-Workplace-Name: ISAG ? European Business School, Porto / Research Center in Business Sciences and Tourism (CICET ? FCVC), Porto / Research Centre in Organizations, Markets and Industrial Management (COMEGI) Author-Name: María Bastida Author-Name-First: María Author-Name-Last: Bastida Author-Email: maria.bastida@usc.es Author-Workplace-Name: University of Santiago de Compostela, Santiago de Compostela, A Coruña Title: Beyond the Office: Profiles and Experiences of Remote Work Professionals Abstract: The modern workforce is undergoing a significant transformation driven by the widespread adoption of remote and hybrid work models. This study investigates the preferences, experiences, and impacts of remote work on engagement and relationships with colleagues among professionals. Drawing on a quantitative methodology, data were collected through an online questionnaire survey from 211 participants between January and March 2024. The findings reveal a strong preference for remote work, particularly among younger generations, highlighting a growing desire for autonomy, flexibility, and work-life balance. While a substantial proportion of participants reported positive impacts of remote work on relationships with colleagues and engagement, challenges such as communication difficulties and feelings of isolation were also identified. Sociodemographic factors, including age, nationality, and current work model, were found to influence preferences for remote work and perceptions of engagement. The study underscores the importance of proactive measures to address challenges and foster a supportive remote work culture, emphasizing the need for communication, collaboration, and employee well-being initiatives. Overall, remote and hybrid work models offer undeniable advantages, but organizations must prioritize strategies to optimize their implementation and ensure the sustained engagement of their workforce in a rapidly evolving work landscape. Length: 13 pages Creation-Date: 0000-00 Publication-Status: Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Vienna, Nov -0001, pages 110-122 File-URL: https://iises.net/proceedings/international-conference-on-economics-finance-and-business-vienna-2024/table-of-content/detail?cid=143&iid=008&rid=16273 File-Function: First version, 0000 Number: 14316273 Classification-JEL: C12, J23, J29 Keywords: New working models, Remote work, Hybrid work, Engagement, Professionals? profile, Work relationships Handle: RePEc:sek:iefpro:14316273 Template-Type: ReDIF-Paper 1.0 Author-Name: Elvira Vieira Author-Name-First: Elvira Author-Name-Last: Vieira Author-Email: evieira@esce.ipvc.pt Author-Workplace-Name: Applied Management Research Unit (UNIAG), Instituto Politécnico de Bragança, Campus de Santa Apolónia / ISAG ? European Business School, Porto / Research Center in Business Sciences and Tourism (CICET ? FCVC), Porto / IPVC ? Polytechnic Institute of Viana Author-Name: Daniela Silva Author-Name-First: Daniela Author-Name-Last: Silva Author-Email: evieira@esce.ipvc.pt Author-Workplace-Name: ISAG ? European Business School, Porto / Research Center in Business Sciences and Tourism (CICET ? FCVC), Porto Author-Name: Victor Tavares Author-Name-First: Victor Author-Name-Last: Tavares Author-Email: vmtavares@isag.pt Author-Workplace-Name: ISAG ? European Business School, Porto / Research Center in Business Sciences and Tourism (CICET ? FCVC), Porto Title: Relevance of Digital Marketing for the Performance of Small and Medium-sized Enterprises: The Case of the Portuguese Footwear Sector Abstract: Digital marketing is increasingly essential for the competitiveness of small and medium-sized enterprises (SMEs), particularly in key economic sectors. This paper focuses on the Portuguese footwear industry, dominated by SMEs, to examine the role and effects of digital marketing on business performance. Through qualitative research, including in-depth interviews with managers from five leading companies, we assess how these firms have adopted digital marketing and the impact of such practices. Many SMEs show hesitancy towards digital transformation in marketing, often due to limitations inherent in their business structures and models. This reluctance may compromise their competitive advantage and long-term viability. Given the critical importance of the footwear sector to Portugal's economy, it is vital to understand the factors driving or impeding digital marketing adoption. Our findings indicate that digital marketing substantially boosts the performance of SMEs within this industry. Despite initial resistance, those adopting these practices have seen marked improvements in competitiveness and market positioning. The paper concludes with a call for further research into integrating digital marketing in SMEs, emphasizing its potential to transform business success. These insights provide a foundational reference for future studies on digital marketing strategies and their operational implications in similar sectors dominated by SMEs. Length: 14 pages Creation-Date: 0000-00 Publication-Status: Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Vienna, Nov -0001, pages 123-136 File-URL: https://iises.net/proceedings/international-conference-on-economics-finance-and-business-vienna-2024/table-of-content/detail?cid=143&iid=009&rid=16278 File-Function: First version, 0000 Number: 14316278 Classification-JEL: L25, M31, O33 Keywords: Business Digitalization, Competitive Advantage, Digital Marketing, Footwear Industry, Small and Medium-sized Enterprises Performance Handle: RePEc:sek:iefpro:14316278 Template-Type: ReDIF-Paper 1.0 Author-Name: Hubert Sebastian Tandianto Author-Name-First: Hubert Sebastian Author-Name-Last: Tandianto Author-Email: felizia@staff.ubaya.ac.id Author-Workplace-Name: University of Surabaya Author-Name: Felizia Arni Rudiawarni Author-Name-First: Felizia Arni Author-Name-Last: Rudiawarni Author-Email: felizia@staff.ubaya.ac.id Author-Workplace-Name: University of Surabaya Title: DOES PRESIDENTIAL ELECTION MATTERS? EARNINGS MANAGEMENT STUDY IN INDONESIA Abstract: This study investigates the correlation between earnings management and presidential elections in Indonesia. Prior research has demonstrated that general elections have a detrimental effect on the practice of earnings management at State-Owned Enterprises (SOEs). The objective of this study is to examine the impact of presidential elections on the practice of earnings management in Indonesia, specifically focusing on SOEs. A study was carried out utilizing a sample of 63 Indonesian companies that are listed on the Indonesia Stock Exchange (IDX), out of which 21 are SOEs. The study spanned over a period of 5 years. It aimed to investigate the impact of presidential elections in the years leading up to the election, the election year itself, and the years after the election. Our empirical research shows that presidential elections harm the practice of real earnings management in both SOEs and non-SOEs. Additionally, we observe a significant increase in the prevalence of earnings management before the election period compared to the period following the election. The discovery indicates a substantial increase in pressure caused by political events, such as the presidential election. These findings provide a reference point for future studies and aid in anticipating earnings management practices during prospective political events, particularly presidential elections. Length: 13 pages Creation-Date: 0000-00 Publication-Status: Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Vienna, Nov -0001, pages 137-149 File-URL: https://iises.net/proceedings/international-conference-on-economics-finance-and-business-vienna-2024/table-of-content/detail?cid=143&iid=010&rid=16088 File-Function: First version, 0000 Number: 14316088 Classification-JEL: E66, M40, M41 Keywords: Earnings Management, Election, Stated Owned Enterprises, Political pressure Handle: RePEc:sek:iefpro:14316088