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- ItemStart-up Exits: Evidence from the Czech Republic(University of Dubrovnik, 2024-06-11) Vejmělková, LadaThe aim of this paper is to identify the main characteristics of start-up exits in the Czech Republic. The research gap stems from the lack of research on the start-up exits. For this purpose, the unique Czech Founders database has been used, which includes data on 100 transactions for the 2007-2021 period. Data are evaluated using selected statistics methods. The results indicate that there are statistically significant differences between the industry and the location of the start-up. This research is the first ever to map start-up exits in the Czech context. The contribution of extending the current state of knowledge is the formulation and application of tools supporting the development of entrepreneurial ecosystems by policy makers.
- ItemINFLUENCING ESG PERCEPTION IN SMES THROUGH CSR, BUSINESS ETHICS, AND HRM: AN EMPIRICAL STUDY IN V4 COUNTRIES(EDITURA ASE, 2024-04-01) Belás, Jaroslav; Balcerzak, Adam Przemyslaw; Dvorský, Jan; Streimikis, JustasThe aim of the paper is to define the important factors of Corporate Social Responsibility (CSR), Business Ethics (BE), and Human Resource Management (HRM), and to quantify their impact on the formation of positive attitudes of SMEs towards the concept of Environmental, Social, Governance (ESG) and its acceptance. To support the achievement of this goal, empirical research was conducted in the Visegrad Group (V4 countries) with a sample of 1,056 respondents in March 2024. The defined scientific hypotheses were verified through the Ordered Least Model (OLM). The research results indicate the following trends. Selected factors from CSR, BE, and HRM demonstrated an influence on shaping the positive attitudes of SMEs toward understanding and accepting the ESG concept. Empirical research confirmed that the CSR domain significantly influences the positive approach of SMEs towards ESG. This study in the HRM field emphasises the importance of a participatory leadership style for employees. This approach, among other benefits, contributes to a positive attitude of SMEs towards understanding and accepting the ESG concept. Planning the qualification and career growth of employees does not represent significant factors in shaping the positive stance of SMEs towards ESG. SMEs' attitudes in the BE field clearly indicate that a consistent approach by managers in implementing anti-corruption measures shapes the right approaches of SMEs towards ESG. On the other hand, the formal declaration of applying BE in the activities of SMEs and the existence of a moral code do not positively influence the perception on ESG.
- ItemNon-numerical Bankruptcy Forecasting Based on Three Trends Values - Increasing, Constant, Decreasing(ECONOMIC LABORATORY TRANSITION RESEARCH PODGORICA-ELIT, 2024-05-05) Bočková, Nina; Hornungová, Jana; Dohnal, MirkoThere is a broad spectrum of different BM (Bankruptcy Models). However, complex bankruptcies are unique, vaguely known, interdisciplinary and multidimensional. These are the key reasons why sufficiently large sets of examples are not available It is therefore often prohibitively difficult to make forecasts using numerical quantifiers and traditional statistical methods. BMs development suffer from IS (Information Shortage). IS eliminates straightforward application of traditional statistical methods based on information rich environment; that is on the law of large numbers. Artificial Intelligence has developed different tools to minimise IS related problems. Trend reasoning is one of them. It is based on the least information intensive quantifiers There are four different trends i.e. qualitative values and their derivatives: plus/increasing; zero/constant; negative/decreasing; any value / any trend. The paper studies BMs represented by models based on EHE (Equationless Heuristics). An bankruptcy example of EHE is - If Selling of Assets is increasing then Satisfaction of Creditors is increasing. Such verbal knowledge items cannot be incorporated into a traditional numerical model. No quantitative quantifiers, e.g. numbers, are used in this paper. The solution of a trend model M(X) is a set S of scenarios where X is the set of n variables quantified by the trends. All possible transitions among the scenarios S are generated. An oriented transitional graph G has as nodes the set of scenarios S and as arcs the transitions T. An oriented G path describes any possible future and past time behaviour of the bankruptcy system under study. The G graph represents the complete list of forecasts based on trends. An eight -dimensional model serves as a case study. Difficult to measure variables are used, e.g. Level of Greed, Political Influence. There are 65 scenarios S and 706 transitions T among them. A priory knowledge of trend reasoning is not required.
- ItemRenewable energy transition in Europe in the context of renewable energy transition processes in the world. A review.(Elsevier, 2024-12-06) Igliński, Bartłomiej; Kiełkowska, Urszula; Mazurek, Krzysztof; Druzynski, Sebsatian; Pietrzak, Michał Bernard; Kumar, Gopalakrishnan; Veeramuthu, Ashokkumar; Skrzatek, Mateusz; Zinecker, Marek; Piechota, GrzegorzBoth the global and European energy sectors have been undergoing a deep transition for several years, associated with a reduction in the overall share of conventional coal-based energy in favor of new technologies, especially energy from renewable sources (RES). This transition is moving from centralized production towards distributed technologies and from providing only energy to end users towards combining innovative products and services with it. Electricity consumers are becoming prosumers connected to the grid and generating an increasing amount of energy. The original goal of decision-makers was to stop global warming and improve air quality. After Russia’s aggression of Ukraine in 2022, the EU transition efforts accelerated, and concerns about the climate were joined by issues related to energy security. After the painful experiences of the last several months, Europe wants to become independent from energy raw materials and their unstable suppliers as soon as possible, securing markets against price fluctuations, blackmail and unfair practices of some sellers. The aim of the article is to describe the current situation of energy and heat production from RES in selected countries in the aspect of contemporary energy transition (ET) processes. The achievement of the goal made it possible to present the European RES market in 2022, discuss the actions taken by European countries towards decarbonization and propose recommendations for the further development of the renewable energy market. The ET in Europe has been going on for over a dozen years, although there are countries, such as Norway, that use almost 100 % of renewable energy, as well as those that still largely use conventional fuels, such as Poland. In European countries, the energy mix of renewable energy, energy storage and green hydrogen should be developed. Green hydrogen produced in the electrolysis process from surplus renewable energy is an energy carrier with versatile applications both in the energy sector and in European industry.
- ItemEXPLORING THE APPROACHES TOWARDS SUPPORT OF ACADEMIC ENTREPRENEURSHIP: EVIDENCE FROM AN EMERGING MARKET(VILNIUS GEDIMINAS TECH UNIV, 2024-12-24) Zinecker, Marek; Pěnčík, Jan; Kocmanová, Alena; Meluzín, Tomáš; Balcerzak, Adam Przemyslaw; Pietrzak, Michał BernardOver the past three decades, an exponentially growing body on elements and actors of the concept of an entrepreneurial university has emerged. Compared to its western European counterparts, however, the idea of the third role of the university has only recently been implemented in Central and Eastern European countries, and thus both research and entrepreneurial practice grapple with empirical results. In this paper, we attempt to fill this gap while adopting a case study approach to examine the issue of what resources a prominent technical university operating in the emerging market of the Czech Republic transfers to academic ventures to utilise and commercialise university research results. Within a survey, nine academic founders and two university representatives were interviewed to assess the role of university resources in facilitating academic entrepreneurship. Our research results suggest that creating infrastructure to foster the third role of universities in an emerging market is a complex and long-term issue. Formal institutions embedded in the intra-university organisational structure, such as knowledge transfer offices and entrepreneurial centres, need to be equipped with sufficient resources and competences. Skilled people with their own network of contacts to intra-university departments and external environment represented by regional incubators, venture capital providers, business angel associations, and experienced entrepreneurs should be involved in the process of creating and increasing capacity. Furthermore, the upcoming agenda should undoubtedly acknowledge the significant role of entrepreneurship education with a focus on talent recognition and entrepreneurship training to impact the entrepreneurial intentions of researchers and students. Overall, we also conclude that the motivation of academics to commercialise their inventions could be positively affected by the applied concepts of assessing their performance. Finally, this study shows that measures at all management levels have to be adopted to create a vital organisational culture that will be in alignment with the vision of entrepreneurial university. The novelty of this paper is twofold. First, the study provides a useful methodological concept of data collection as the multi-level approach was applied for studying the phenomenon of entrepreneurial university. Furthermore, the research findings have valuable implications for university authorities, as well as national and local policy makers, in creating growth programmes and supporting the entrepreneurial mindset.