Business, Management and Economics Engineering

Purpose – What are the effects of implementing various types of innovation, including product, process, and technological innovations, on the performance of SMEs in the manufacturing sector? This is a question that preoccupies us a lot. This study seeks to examine the individual and integrated effects of these innovations. Indeed, we examine the impact of three categories of innovation – product, process, and technological innovation – on the performance of SMEs in the manufacturing industry. Research methodology – We used a quantitative approach to execute this research, selecting SMEs at random using self-administered questionnaires. The data collected from 153 manufacturing SMEs was analyzed using hierarchical linear regression to investigate, evaluate, and refine the relation among product, process, and technological innovation and SME performance. Findings – This study’s findings reveal a clear and direct relationship between these three forms of innovation and SMEs’ performance. This study also provides empirical evidence that various forms of innovation, either examined individually or as integrated, exert a positive effect on the performance of SMEs in the manufacturing industry. Limitations – This study focuses on Kosovo-based SMEs, with the assumption of an upright connection between variables. Future studies can examine the existence of reverse causality in a variety of regional, cultural, and industrial settings. Originality/Value – This study significantly advances existing knowledge by providing useful insights into the complex interplay among product, process, and technological innovation (examined from both individual and integrated perspectives) as well as the performance of SMEs in the manufacturing industry.

Enis Mulolli

Xhavit Islami

Medain Hashani

Business Management and Economics Engineering

Enhancing SME performance through innovation: evidence from a transition economy – Kosovo

通过创新提升中小企业绩效：来自转型经济体——科索沃的证据

Purpose – this study aims to thoroughly investigate by reviewing previous literature on risk assessment queries for robo-advisors, comparing it with three existing robo-advisors and proposing suitable risk assessment questions for robo-advisor. Research methodology – utilize the deductive content analysis technique to examine the risk assessment issue for financial robo-advisors, which is influenced by previous study. Findings – there are nine questions share a similar context both in previous literature and among existing robo-advisors, with income being the most commonly used question. Then, there are three questions that are only asked by the existing robo-advisors: emergency funds, home ownership, and the source of transaction. These findings suggest some additional questions to enhance the effectiveness of risk assessment in robo-advisory services for individuals. Research limitations – only two previous research papers have focused on risk profiling, and three available applications used in this research. Practical implications – the robo-advisor’s developer should take into account various factors such as local culture and economic conditions, financial product knowledge, etc. when crafting diverse risk profiles to provide more precise investment recommendations. Originality/Value – the study is the first research which explore the risk profiling for financial robo-advisor, which used by existing robo-advisor then compared to other countries in the world.

Eneng Nur Hasanah

Sudarso Kaderi Wiryono

Deddy P. Koesrindartoto

Risk profiling question investigation for robo-advisor

机器人投顾风险画像问题调查

Purpose – The current study evaluates the linkage between financial literacy and the sustainable business performance model with access to finance and fintech adoption. Further, the moderating role of top management support in the linkage between financial literacy toward access to finance and fintech adoption was verified. Research methodology – This research was conducted in the SME sector in Indonesia. The sample frame were 261 SMEs and 783 respondents from three levels of management. Data was collected in the October-December 2023 period. Data were obtained utilizing Likert-scaled questionnaires and analyzed using SmartPLS. Findings – The results demonstrate that financial literacy is an instrumental driver of access to finance and fintech adoption that promotes sustainability performance. Subsequently, the study highlights the critical role of access to finance and fintech adoption as the mediator and top management support as moderator. Research limitations – The study is solely performed on the SME sector in one country; thus, the findings’ generalization is lacking. Practical implications – SME managers need to upgrade their financial literacy because financially knowledgeable managers are keenly informed of the costs, benefits, and risks related to funding schemes to encourage sustainable performance. Originality/Value – Empirical research that explores the implication of financial literacy on access to finance and fintech adoption in promoting sustainability performance is lacking, reported solely on manufacturing companies and banks. Meanwhile, the SME sector, especially in developing countries, is understudied. Consequently, the initial study leads the examination of financial literacy’s role in enhancing access to finance and fintech adoption to foster the sustainability performance of SMEs.

Kusuma Ratnawati

Viktor Koval

I Wayan Edi Arsawan

Yigit Kazancoglu

Iryna Lomachynska

Hanna Skyba

Leveraging financial literacy into sustainable business performance: a mediated-moderated model

将金融素养转化为可持续业务绩效：一个中介调节模型

Purpose – This study aims to reassess the dynamics of major cryptocurrencies sur-rounding recent economic and geopolitical events. By employing wavelet analysis and quantile regression methods, it seeks to understand the behavior of cryptocurrencies before, during, and after the COVID-19 pandemic. Research methodology – This research employs the Least Asymmetric Daubechies (LA8) wavelet function to decompose log-returns of major cryptocurrencies into various frequency scales. Additionally, it utilizes wavelet coherence and quantile-on-quantile regression techniques to analyze daily price data spanning from July 2017 to May 2024. Findings – The findings reveal a strong long-term association among cryptocurrencies, with a decline in medium-term correlations. Bitcoin exhibits synchronization with major cryptocurrencies, excluding Tether, while BTC-ETH and BTC-BNB display a rapid, interconnected behavior alongside their fundamental links. Moreover, empirical evidence indicates Bitcoin’s heterogeneous nexus with other alternatives, showcasing greater sensitivity to positive extremes over negative ones. Research limitations – The study’s scope is delimited by the selected time frame (July 2017 to May 2024) for data analysis, potentially limiting insights into longer-term trends. Additionally, the reliance on specific methodologies like wavelet analysis might introduce constraints in capturing the entirety of cryptocurrency dynamics, leaving room for alternative interpretations or unexplored aspects. Practical implications – Results suggest that understanding the varying correlations among major cryptocurrencies during different market phases could aid investors and policymakers in devising more nuanced strategies. Recognizing the sensitivity of Bitcoin’s connections with alternatives to market trends could inform risk management approaches, particularly in navigating extreme market conditions. Originality/Value – The originality of this study lies in its comprehensive examination of cryptocurrency dynamics across varying time scales, utilizing wavelet analysis and quantile regression techniques. The findings offer valuable insights into the complex interconnections among cryptocurrencies, especially in terms of their sensitivity to different market conditions, providing a nuanced perspective for investors, analysts, and policymakers navigating the crypto landscape.

Osman Gulseven

Bashar Yaser Almansour

Jesus Cuauhtemoc Tellez Gaytan

Revisiting the dynamics of major cryptocurrencies

重温主要加密货币的动态

Purpose – The paper evaluates the applied macroprudential measures in selected countries by testing their efficiency in tourism and reducing the revenue gap in tourism sector during the pandemic crisis. Research methodology – The effects of macroprudential policy were tested using the Granger causality test and PVAR model. The research used data from the period 2019 to 2022 by quarters. The impulse response function evaluated the long run impact of macroprudential policy on performance of tourism entities. Findings – The results confirm the positive effect of systemically important institutions buffer (SIB) on reducing the losses in tourism. The impulse response showed the significant impact of SIB on revenue gap (RG) reduction. Research limitations – The research has limitations regarding to the short period of observation. The additional variables can be entered into the model. Practical implications – The results serve the policy makers for shaping the measures for recovery policies and maintaining long-term economic stability. The findings are useful as they can serve as a guide in designing measures to help the tourism recovery. Originality/Value – The contribution of this study is reflected in providing scientific evidence of macroprudential measures effectiveness for several countries and routing policies for tourism recovery.

Petra Popek Biškupec

Suzana Herman

Ivan Ružić

THE MACROPRUDENTIAL MEASURES FOR MITIGATING THE EFFECTS OF THE PANDEMIC CRISIS IN TOURISM ECONOMIES

旅游经济中缓解疫情危机影响的宏观审慎措施

Purpose – This article aims to investigate the influence of unconventional monetary policy tools (UMPTs) employed by the European Central Bank (ECB) on the inflation rate and GDP growth rate within the euro area, motivated by the principles of the Taylor rule. Research methodology – Elastic net regression with ARIMA residuals was used to analyse the relationship between UMPTs and economic indicators, measured by adjusted R-squared. Six samples were constructed, and hypothesis testing was performed using moving block bootstrapping. Residual diagnostics were used for model validation. Findings – The study revealed significant impacts of UMPTs, particularly in combination with interest rates, on inflation rates. However, adjusted R-square values for GDP growth rate were less pronounced, indicating a more complex relationship. Research contributes to understanding the dynamics of monetary policy transmission mechanisms, informing policy institutions, and guiding future research directions. Research limitations – Limitations include the focus on the euro area and the absence of analysis in other major economies. Future research should address these limitations and incorporate additional variables for a more comprehensive analysis. Practical implications – The findings provide insight for policymakers regarding the efficacy of UMPTs in influencing inflation rates, aiding in informed decision-making in monetary policy formulation and implementation. Originality/Value – This study contributes novelty by comprehensively analysing the relationship between UMPTs and economic indicators within the euro area, providing valuable insight into monetary policy institutions, and guiding future research directions.

Tomas Pečiulis

Asta Vasiliauskaitė

The influence of unconventional monetary policy tools: an euro area perspective

非常规货币政策工具的影响：欧元区视角

短名
Journal Impact	0.74
国际分区	MANAGEMENT(Q4)

涉及主题	业务政治学法学经济计算机科学社会学数学心理学社会科学社会心理学人类学创造力定性研究独创性统计财务哲学营销机器学习地理生物工程类物理考古认识论历史宏观经济学价值（数学）医学程序设计语言管理古生物学地质学计量经济学语言学知识管理操作系统
出版信息	出版商: Vilnius Gediminas Technical University，出版周期: ，期刊类型: journal，开源期刊: 是
基本数据	创刊年份: 2021，原创研究文献占比: 95.00%，自引率:0.00%， Gold OA占比: 100.00%
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平均审稿周期	网友分享经验：8 Weeks

Business, Management and Economics Engineering

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Enhancing SME performance through innovation: evidence from a transition economy – Kosovo

Risk profiling question investigation for robo-advisor

Leveraging financial literacy into sustainable business performance: a mediated-moderated model

Revisiting the dynamics of major cryptocurrencies

THE MACROPRUDENTIAL MEASURES FOR MITIGATING THE EFFECTS OF THE PANDEMIC CRISIS IN TOURISM ECONOMIES

Enhancing SME performance through innovation: evidence from a transition economy – Kosovo

Risk profiling question investigation for robo-advisor

Revisiting the dynamics of major cryptocurrencies

Leveraging financial literacy into sustainable business performance: a mediated-moderated model

The influence of unconventional monetary policy tools: an euro area perspective

ISSN	2669-2481, 2669-249X
h-index	8