Business Development and Economic Governance in Southeastern Europe: 13th International Conference on the Economies of the Balkan and Eastern European Countries (EBEEC), Pafos, Cyprus, 2021 PDF
Preview Business Development and Economic Governance in Southeastern Europe: 13th International Conference on the Economies of the Balkan and Eastern European Countries (EBEEC), Pafos, Cyprus, 2021
Springer Proceedings in Business and Economics Pantelis Sklias Persefoni Polychronidou Anastasios Karasavvoglou Victoria Pistikou Nikolaos Apostolopoulos Editors Business Development and Economic Governance in Southeastern Europe 13th International Conference on the Economies of the Balkan and Eastern European Countries (EBEEC), Pafos, Cyprus, 2021 Springer Proceedings in Business and Economics SpringerProceedingsinBusinessandEconomicsbringsthemostcurrentresearch presentedatconferencesandworkshopstoaglobalreadership.Theseriesfeatures volumes(inelectronicandprintformats)ofselectedcontributionsfromconferences in all areas of economics, business, management, and finance. In addition to an overall evaluation by the publisher of the topical interest, scientific quality, and timeliness of each volume, each contribution is refereed to standards comparable tothoseofleadingjournals,resultinginauthoritativecontributionstotherespective fields.Springer’sproductionanddistributioninfrastructureensuresrapidpublication andwidecirculationofthelatestdevelopmentsinthemostcompellingandpromising areasofresearchtoday. TheeditorialdevelopmentofvolumesmaybemanagedusingSpringerNature’s innovativeEquinOCS,aprovenonlineconferenceproceedingssubmission,manage- ment and review system. This system is designed to ensure an efficient timeline foryourpublication,makingSpringerProceedingsinBusinessandEconomicsthe premierseriestopublishyourworkshoporconferencevolume. ThisbookseriesisindexedinSCOPUS. · · Pantelis Sklias Persefoni Polychronidou · · Anastasios Karasavvoglou Victoria Pistikou Nikolaos Apostolopoulos Editors Business Development and Economic Governance in Southeastern Europe 13th International Conference on the Economies of the Balkan and Eastern European Countries (EBEEC), Pafos, Cyprus, 2021 Editors PantelisSklias PersefoniPolychronidou NeapolisUniversityPafos DepartmentofEconomics Paphos,Cyprus InternationalHellenicUniversity Serres,Greece AnastasiosKarasavvoglou DepartmentofAccountingandFinance VictoriaPistikou InternationalHellenicUniversity DemocritusUniversityofThrace Kavala,Greece Komotini,Greece NikolaosApostolopoulos UniversityofPeloponnese Tripoli,Greece ISSN 2198-7246 ISSN 2198-7254 (electronic) SpringerProceedingsinBusinessandEconomics ISBN 978-3-031-05350-4 ISBN 978-3-031-05351-1 (eBook) https://doi.org/10.1007/978-3-031-05351-1 ©TheEditor(s)(ifapplicable)andTheAuthor(s),underexclusivelicensetoSpringerNature SwitzerlandAG2022 Thisworkissubjecttocopyright.AllrightsaresolelyandexclusivelylicensedbythePublisher,whether thewholeorpartofthematerialisconcerned,specificallytherightsoftranslation,reprinting,reuse ofillustrations,recitation,broadcasting,reproductiononmicrofilmsorinanyotherphysicalway,and transmissionorinformationstorageandretrieval,electronicadaptation,computersoftware,orbysimilar ordissimilarmethodologynowknownorhereafterdeveloped. Theuseofgeneraldescriptivenames,registerednames,trademarks,servicemarks,etc.inthispublication doesnotimply,evenintheabsenceofaspecificstatement,thatsuchnamesareexemptfromtherelevant protectivelawsandregulationsandthereforefreeforgeneraluse. Thepublisher,theauthors,andtheeditorsaresafetoassumethattheadviceandinformationinthisbook arebelievedtobetrueandaccurateatthedateofpublication.Neitherthepublishernortheauthorsor theeditorsgiveawarranty,expressedorimplied,withrespecttothematerialcontainedhereinorforany errorsoromissionsthatmayhavebeenmade.Thepublisherremainsneutralwithregardtojurisdictional claimsinpublishedmapsandinstitutionalaffiliations. ThisSpringerimprintispublishedbytheregisteredcompanySpringerNatureSwitzerlandAG Theregisteredcompanyaddressis:Gewerbestrasse11,6330Cham,Switzerland Preface Duetoendogenousandexogenousforces,theonlyconstantinthecomplexworldof businessandeconomyiscontinuouschangeanddevelopment.Newideas,novelty in products, technology development, new regulations, changes in environment, behaviourchangesandothernoveltiesineverydaylifealterstheeconomyondaily basis.Perpetualgrowthandevolvementofallparticipantshavebeenmodellingbusi- nessand publicsector totoday’s level ofthesystems.Thefewpastdecades’ have been highly turbulent, and it could be expressed by two phenomena’s; first one is crisis,andotheroneischangingeconomicenvironmentduetothedigitaltransforma- tion.Businessperformanceanalysisinthesedaysismorecomplexanddemanding that ever before. Risk management and performance analysis because of pace of changes require new knowledges and implementations of new economics models. Global-levelchanges,tensionsandissueslikepolitical,health,environmental,tech- nological are influencing shift of paradigms in world economy. Europe is not an island, and changes are influencing to its business and economic landscape. Some changesareendogenous,likeBrexit;someareexogenouslike“AmericaFirst”poli- tics, SARS-COV-2, etc. All these changes are unquestionably being changing and challengingbusinessdevelopmentandeconomicgovernanceinEurope. Thus,thisvolumeencompassesmanuscriptswithfocusonassessmentsofthebusi- nessdevelopmentandeconomicgovernanceinEurope,withtheparticulateinterest totheCentralandSoutheasternEuropeancountries.Theoriginalperspectiveofthe authors,researchersandpractitioners,ontheissueandutilizedcomplexquantities and qualitative models, delivers firm ground for quality scientific conclusions and recommendations for further discussions. The majority of the researchers that this volume gathers have affiliation of higher education and research institutions from CentralandSoutheasternEurope. The international conference “Economies of the Balkan and Eastern European Countries (EBEEC)”, through its twelve previous editions, has become a recog- nizedforumwheretheknowledgeandexperiencesgainedbyacademicsspecialized in economics and business in the region of Central and Southeastern Europe are exchanged, debated and validated. Besides that, the results of the EBEEC confer- encearenumerouspublicationsdisseminatedtothescientificpublicandpractitioners v vi Preface allovertheworld.Inthiseffort,substantialassistanceandcontributioncomefrom renownedpublisherssuchasSpringer. The13thInternationalConference“EconomiesoftheBalkanandEasternEuro- pean Countries” was organized jointly in Cyprus (Pafos) by Neapolis University PafosandDepartmentofEconomicsandAccountingoftheInternationalHellenic University,on14–16May2021.Theaimoftheconferencewastogatherscientists andpractitioners’thatwillpresentacademicpapersandtoexchangetheoreticaland empirical results on contemporary issues in economy with specific focus in busi- nessdevelopmentandeconomicgovernanceinCentralandSoutheasternEuropean countries.DuetotheepidemicsituationwithSARS-CoV-2andnumerusrestrictions regardingtravelling,theconferencewasheldonline.Theconferencebroughttogether more than 100 manuscripts and by more than 150 authors from 20 countries from Europeandallovertheworld.Abroadrangeofissues—Greekpoliticaleconomy; recession;generalizedtrust;sustainability;emergingeconomies;multinationalenter- prises; statistical arbitrage; entrepreneurship education; innovation policy; social cooperativeenterprise(SCE);etc.—havebeendiscussedattheconferenceandinthe resultingpublishedmanuscripts. This volume as one of the publications resulting from the 13th International Conference “Economies of the Balkan and Eastern European Countries” (EBEEC)—Pafos, Cyprus, May 2021, has a goal to present to the worldwide audience new and original research and conclusions in a specific field of busi- ness development and economic governance in Europe. The volume includes 25 selectedmanuscriptsbasedontheirqualityandoriginalityarrangedandpresented at the 13th EBEEC conference in Pafos, Cyprus. The book consists of two parts. Part One focuses on Public Administration/Governance and the Economies of SoutheasternEurope.PartTwounfoldsthesubjectofBusinessGrowthandDevel- opment in Southeastern Europe. The entire manuscript selection process was managedbytheboardofeditorsincompliancewiththehigheststandardsandbest practiceguidelinesonpublishingethics,payingspecialattentiontoissuesregarding plagiarism, peer review, objectivity, funding, privacy and conflict of interest. All selectedmanuscriptshavegonethroughthepeerreviewprocessandcarefullyedited. Research ideas and applied quantitative methods indicate that scientists emerging fromCentralandSoutheasternEuropearedevelopingnewworthyofattentionknowl- edgeandconclusionsinthisfield.Thisistheresultofchangingnatureoftheeconomy in Central and Southeastern European countries and merits attention in increasing the scientific quality work. Selected papers are independent and do not constitute jointresearch;theirappearanceinthevolumeisaimedtopresentanaloguestopics inthefieldofeconomyandbusinessandtoattracttheattentionofscientificpublic andalsopractitioners. PartOneoftheeditedvolumeopenswithapaperwrittenbyProf.PantelisSklias (NeapolisUniversityPafos,Cyprus),SpyrosA.Roukanas(UniversityofPiraeus, Greece)andGeorgiosGalatsidas(UniversityoftheAegean).Asdescribedintheir paper,thestrictausteritypolicythatwasimposedonGreecebytheTripartiteSupport Mechanism(EC,ECBandIMF)hadunforeseenandunprecedentedmacroeconomic and social effects. There can be no doubt that the fiscal stability programme was Preface vii originally designed to facilitate the overall improvement of the Greek economy’s macroeconomic situation, emphasizing on the stabilization of budget deficits and thecontainmentofpublicdebtasnecessaryconditionsforbothGreece’sreturnto capitalmarketsandrestartingeconomicgrowthinthecountry.Tenyearslater,the question is to what extent the macroeconomic targets of reducing the public debt and the budget deficit, as well as the ultimate goal of achieving economic growth, have been realized (or not)? This paper is an attempt to systematically document the course of Greek Political Economy during 2010–2019. More specifically, this paper discusses macroeconomic aggregates (economic growth, public debt, public deficit,unemployment,employmentandthelabourforce)withtheultimategoalof evaluatingtheeconomicpoliciesofthetripartitesupportmechanism.Thestudyof macroeconomicindicatorsshowsthattenyearsaftertheprogramme’simplementa- tion the overall macroeconomic situation of the Greek economy has not improved (withtheexceptionofthepublicdeficit),whilekeyindicators(suchasthepublicdebt andeconomicgrowth)haveworsened,furtheraggravatinglabourmarketconditions, andasaresult,theGreekeconomyisinamuchworsemacroeconomicpositionas comparedtoMay2010. The second paper of the volume, authored by Nalleli Patricia Bolaños Pérez and Edgar J. Saucedo-Acosta (University of Veracruz, Xalapa, Mexico), aims to investigate the causal relationship between generalized trust, as well as income inequalitiesin23economiesbelongingtotheOrganizationforEconomicCooper- ationandDevelopmentfrom2000to2019.Inthisstudy,weusetheapplicationof a fully modified least squares model and the canonical correlation regression esti- mator.Inaddition,theunitrootandco-integrationtestareappliedbeforeapplying theGrangercausalitytest.Thefindingsshowthatthereisabidirectionalrelationship betweensocialcapitalandincomeinequality. The manuscript prepared by Grazia Dicuonzo, Francesca Donofrio, Simona Ranaldo(UniversityofBariAldoMoro,Italy)explainshow,inthelastdecade,corpo- ratereportinghasundergonearadicaltransformation,addingsustainabilityreporting totraditionalfinancialreporting.TheBarnierDirective(2014/95/EU)introducedinto Europeanlawtheobligationforlargepublic-interestentitiestoprepareandpublish a non-financial statement. This document must contain information relating to the environment,thesocialsphere,employeematters,respectforhumanrights,andthe fight against active and passive corruption, aimed at ensuring an understanding of thecompany’sactivities,performance,resultsandimpact.Indeed,todate,managers consider it necessary to adopt a holistic approach, considering both financial and non-financial aspects, to ensure the protection of the creation of corporate value. OnApril2021,theEuropeanCommissionadoptedaproposalofCorporateSustain- ability Reporting Directive (CSRD), aiming at improving sustainability reporting in order to contribute to the transition towards a fully sustainable and inclusive economicandfinancialsystem.Inthiscontext,thetopicofsustainabilityreporting has become relevant for companies. This paper reviews the main frameworks and standardsdevelopedbyinternationalstandardsavailabletocompanies,investigating thelevelofadoptionbyasampleofEuropeanlistedcompanies. viii Preface The following paper arranged by M. Giusti (University of Florence, Florence, Italy),N.Persiani(UniversityofFlorence,Florence,Italy),M.DeLuca(Centreof GlobalHealthofTuscanyRegion,Florence,Italy)andJ.M.Caldes(CentreofGlobal HealthofTuscanyRegion,Florence,Italy)exploreshowinthelastyears,withthe affirmationoftheTheoryofChange(ToC—ConnelandKunisch,1998),alotoftools fortheevaluationofprojectshavingsocialrelevancehavebeendeveloped.Theneed tomeasuretheirimpacthasledtoleavetheuseoftraditionalqualitativemeasurement instruments joints for quantitative tools, which calculate the effectiveness of the resources employed and the generated impact by social project (Anderson, 2006). Among them, recently, it has paid attention on the Social Return on Investment (SROI—LinganeetOlsen,2004),amodeltoaccountforcreatedvalue. Itincludesnotonlythereturnofinvestmentsbutalsothebenefitsforthebroader publicinthesocial,economicandenvironmentalspheres. The research aim istoverifyand calculate SROI as avalid tooltomeasure the impactgeneratedbysocialprojectsintransitionalcountries,especiallythoseofhealth internationalcooperation. Indeed, the economic quantification of the SROI rate appears as an important elementtoimprovereportingandaccountabilitybothtothelenderandtheusers. Thecasestudyhasbeenidentifiedasappropriatemethodologyforconductingthis research(Yin,2003;Eisenhardt,1989).Theproject“IntroducingHealthInformation System(IHIS):amodernapproachtotransparencyandaccountabilityintheAlbanian publichealth”conductedbytheTuscanyRegionresultedrelevantfortheinvolvement ofdifferentactorsanditsactioninatransitioncountryasAlbania.Thisprojectwas realized from 2014 to 2016 using financing from IADSA (Italian–Albanian Debt forDevelopmentSwapAgreement)tosupporttheAlbaniangovernmentintheNHS technologicalandaccountantdevelopment.Now,itispossibletoadequatelyobserve thegeneratedimpact5yearsaftertheconclusionofIHISproject. ThenecessarydataforthecalculationofSROIwerecollectedbydeskanalysisof project’sdocumentsandreportsandtheconductionofinterviewsandfocusgroups toaspecimenofinvolvedstakeholders. Results show the good capability of SROI to quantitatively evaluate the impact producedbyahealthinternationalcooperationproject,alsoifcomplexandarticu- latedasthatstudied.Inparticular,theSROIrateofthisprojectis9.4,anoptimalrate (for100einvested,theprojectgeneratedaneconomicimpactof940e).Therefore, itisdemonstratedtheoptimaluseoftheallocatedresourcesobtainingastrongeffec- tiveness impact in the Albanian healthcare system and on the network of involved stakeholders.Anotherimportantaspectisthereinforcementofresultsdissemination inthesociety,forthesimplicityandeasycomprehensionoftheSROIrate,andthe internalrestitutionpromotedbySROIanalysis.So,SROIprovesasagoodinstrument bothtomeasureandtosharetheeconomicvalueofgeneratedimpact. Charalampos Chrysomallidis (Neapolis University Pafos, Cyprus) examines theoperationofMonetaryUnionanditsimplicationsforlesscompetitiveEurozone member states, including Greece, is examined. In this analysis, impact of fiscal and pandemic crises on economy is also taken into account. The article examines initiatives and proposals for making the MU resembling more to EMU under the Preface ix pressureofrecentcrises,concludingthatapotentialevolutionofexistingarchitecture oftheEurozoneseemstobenecessary,inordertoavoidsimilarasymmetricshocks andcrisesinfuture. ThenextpaperbyXanthippeAdamoglou,VasilikiKounnou,YannisHajidim- itriou,DimitrisKyrkilis(allfromtheUniversityofMacedonia,Greece)examines theimpactMNEsexertonthecorruptionlevelofemergingeconomies.Theresearch employstheinstitutionalentrepreneurshiptheory.Itishypothesizedthatinemerging economiesMNEspresencereducesthelevelofcorruption.Furthermore,itishypoth- esizedthatthefastertherateofincreaseofthenumberofMNEsinthecountry,the faster the increase of pervasive corruption level. The sample consists of seventeen emergingeconomies.Theperiodofanalysisextendsfrom2012to2019.Thefixeffect model has been applied to the panel dataset to test the model hypotheses. Results indicatethatMNEspresencereducesthelevelofcorruptioninthesaidhostemerging economies.Onthecontrary,thehypothesisthatthehighertherateofincreaseofthe numberofMNEsinthehostemergingeconomies,thehigherthelevelofpervasive corruptioninsucheconomiesisnotsupported. ValerijaBotric´ (TheInstituteofEconomics,Croatia)describeshowinnovators are more likely to ensure strong foundations for economic growth and contribute positively to a country employment prospects. While on the firm level innovation inputmightbepersistent,innovationoutputseldomis.Yet,oneoftheimportantinno- vationinputsisrelatedtocontinuousupgradingoftheinnovatingenterprisehuman capital. Innovative firms are more likely to report having problems with finding adequate skills on the job market. Previous studies have established that innova- tivefirmsrequireworkforcewithmodern,higher-orderskills,frequentlynotreadily available on the local labour market. This leads to more specific training require- mentsfortheinnovatingfirms.BasedonthemostrecentTheWorldBankEnterprise Survey dataset, the paper explores different aspects of inadequate human capital oninnovationpropensityinpost-transitionsocieties.Specifically,theimpactofthe inadequatelyeducatedworkers,provisionofon-the-jobtrainingaswellastheshare ofhigh-skillworkersonfirminnovationpropensityareanalysed.Inadditiontofirm characteristics,thepaperexploresaspectsofthemanagementhumancapital,suchas yearsofexperienceaswellasgenderofthetopmanager.Analysisconfirmsdiffer- ences between innovating and non-innovating firms, but also differences between countriesbelongingtotheCentralandSouth-Europeanregionincomparisonwith thecountriesbelongingtoCommonwealthofIndependentStatesregion. The next paper, written by Tsimpida Dialechti (Open University of Cyprus), ChrisA.Grose (InternationalHellenicUniversity)and MichaelA.Talias (Open UniversityofCyprus)aimstoinvestigatethecausesandeffectsofconflictsamong nurses’ working relations as well as their interaction with other healthcare profes- sionals in Greek hospitals. An effort is made to compare the sample between the publicserviceandtheprivatesectorandtoexploretheeffectivenessofhownurses manage conflicts. In contrast to other studies public and private sector hospital, employees appear to have a similar stance towards conflicts and the ways to over- comethestresstheycause.Toresolvethem,theymainlyuseaconsensualstyleof solvingwhileavoidingconflictatwork.
The list of books you might like
