“International Entrepreneurship Review” (IER) is a scientific journal published by the Centre for Strategic and International Entrepreneurship in close cooperation with the Department of International Trade of Krakow University of Economics, issued quarterly. The journal covers the results of research and exchange of experience related to the issues of both international microeconomics (firms as a research subject) and international macroeconomics (economy as a research subject), with particular emphasis on international entrepreneurship in various spatial systems of the global economy. “International Entrepreneurship Review” publishes scientific articles, among others, in the following areas: international business, international economics, entrepreneurship. WE DON'T PUBLISH ARTICLES BEYOND THESE TOPICS ANY MORE! We proritize any articiles on various aspects of international entreprenership! You are very welcome to submit your article into our journal. The articles must be up to 50 000 characters (including spaces as well as all necessary tables, figures, graphs and illustrations, the list of used references and any appendixes if needed). Articles not exceeding 50 000 characters are published free of charge (no article submission (ASF) nor article processing (APF) fees are charged), otherwise the article processing fee (APC) will be applied. We remind that all submitted manuscripts should not exceed the recommended size in accordance with established rules up to 50 000 characters with spaces (i.e. including tables, figures, references, author’s box at the end of the article, etc.). Each Table and each Figure must be recalculated to characters based on its space. Krakow University of Economics subsidises all articles in IER, as we do not sale the copyrights to the databases, so we have no profits at all. The average real costs of the articles are high and they include linguistic copyediting (65% of total costs), proofreading, DTP (setting), printing, postal costs. Additionally we have fixed costs for maintaining the website and database, human resources costs. We are still trying not to charge any fees from the Authors, but we kindly ask you to respect the maximum length of the submitted articles. Although no article submission or article processing fees are charged for preferred length of articles, nevertheless the fee for each additional up to 1800 characters (exceeding the first 50 000 characters) is 20 EUR + 23% VAT which is 24.60 EUR (or 105 PLN). The fee for additional pages should be paid to after the acceptance of the article after issuing a pro-forma invoice: in EUR: PL 19 2490 0005 0000 4600 4637 5105 (with the annotation: IER + your full name) SWIFT: ALBPPLPW in PLN: 09 2490 0005 0000 4530 8510 4422 (z adnotacją IER + imię i nazwisko). Bank details: Alior Bank Spółka Akcyjna ul. Łopuszańska 38D 02-232 Warszawa SWIFT: ALBPPLPW Name of the Recipient: Uniwersytet Ekonomiczny w Krakowie /Krakow University of Economics/ Address of the Recipient: ul. Rakowicka 27 31-510 Kraków Poland This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge. From now on, our journal content is published under CC BY 4.0 license (https://creativecommons.org/licenses/by/4.0/) from 2023 (since vol. 9, no 1). By the end of 2022, we published under CC BY-ND license 4.0 (https://creativecommons.org/licenses/by-nd/4.0/)
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Globalisation and human development: Long-term evidence from countries at different levels of development
Objective: The main goal of this research is to assess the long-term effects of economic, social, and political globalisation on human development, as measured by the Human Development Index (HDI). The study also identifies how these relationships differ across groups of countries at different levels of development, using panel data econometric techniques. Research Design & Methods: The research used a balanced panel dataset, which included 40 countries grouped by HDI development levels across 33 years (from 1990 to 2022). The KOF Globalisation Index captures globalisation through three dimensions: economic, social, and political. The HDI serves as the dependent variable, representing the quality of life. The research methodology uses log-linear panel cointegration models, which employ common correlated effects (CCE) estimators and include a panel error correction model (ECM) to analyse long-run relationship dynamics. Findings: Social globalisation creates positive and substantial effects on HDI in countries at all development levels, including those with very high, medium, and low development, especially in countries with limited access to essential services. The effects of economic globalisation on different groups show no pattern of sustained change, and political globalisation benefits only high-HDI countries that possess strong institutional capacity. The research demonstrates that globalisation and HDI share a cointegration relationship, while developed countries exhibit both rapid adjustment and periodic patterns. Implications & Recommendations: The research demonstrates that globalisation produces varying impacts on human development based on the development stage of a nation and its institutional capabilities. Developing nations need to build stronger institutions and social services to benefit from social globalisation, while economic integration demands domestic reforms that include all segments of society. Advanced countries need to stay actively involved in global politics while developing strategies that suit their individual national situations. Contribution & Value Added: The research adds value to existing literature through its comprehensive evaluation of globalisation’s multiple dimensions on human development, which examines economic, social, and political effects in different development stages. The econometric framework used in this study addresses cross-sectional dependence and heterogeneity while providing policy-relevant insights into the effects of globalisation on quality of life. A key novelty of this article lies in its differentiated analysis across HDI-based country groups, offering long-term evidence on how globalisation’s effects vary depending on national development levels and institutional capacity.
Copyright (c) 2025 Dorota Kuder, Justyna Wróblewska https://creativecommons.org/licenses/by/4.0
Empirical insights into the reduction of operational costs through AI: A study of Jordanian companies
Objective: I investigated how artificial intelligence (AI) tools can help reduce operational costs in businesses across Jordan. I examined the specific ways AI enhances efficiency and optimises resource utilisation, ultimately impacting financial outcomes. Research Design & Methods: I utilised a qualitative research approach, employing a systematic literature review and thematic analysis to examine how AI contributes to reducing operational costs. The review consolidates findings from academic and industry sources to identify key trends. I performed thematic analysis to extract insights on AI-driven automation, cost efficiency strategies, and the challenges associated with implementation. The study does not involve primary data collection or empirical case studies. The study offers recommendations to assist businesses in optimising AI adoption. Findings: Study identified key themes on how AI reduces operational costs, Key cost-saving mechanisms include automation, predictive analytics, and resource optimisation. Sectors like manufacturing, finance, and telecommunications reduce operational costs by cutting labour costs, improving decisions, and increasing efficiency. Challenges include high costs, training gaps, and implementation risks. One must address them to ensure successful AI adoption. Findings are based on literature analysis, and not on primary data. Implications & Recommendations: The research emphasised the need for Jordanian companies to adopt AI to remain competitive and boost profitability. Businesses should invest in AI training to upskill their workforce. AI requires integrating in areas with clear, measurable benefits. Partnering with AI firms can help streamline adoption and integration. Contribution & Value Added: This study presents a structured analysis of AI-driven cost reduction, highlighting how automation, predictive analytics, and supply chain optimisation enhance operational efficiency. Unlike broader studies on AI adoption, I specifically examined cost-saving mechanisms within Jordanian businesses, tackling challenges such as high initial investment costs and workforce skill gaps. The study offers practical recommendations for businesses and policymakers, contributing to the wider discussion on AI’s role in digital transformation and financial sustainability.
Copyright (c) 2025 Sulaiman Weshah https://creativecommons.org/licenses/by/4.0
Managerial psychological gender and its impact on selected corporate behaviours
Objective: The article aims to determine the psychological gender of leaders of the fastest-growing enterprises and its impact on corporate entrepreneurial behaviour and social responsibility. Research Design & Methods: We conducted empirical, quantitative research on the leaders of companies from the top of the Forbes Diamonds List to obtain knowledge about their personality traits and behaviours that contribute to business success. Methods: survey research (n=150) applying Bem’s BSRI gender role questionnaire, the concept of entrepreneurship orientation and the basic forms of corporate social responsibility (CSR). We also applied tests measuring the statistical significance of relationships between variables (Shapiro-Wilk, Ch2, V Kramer). Findings: We identified three types of psychological gender culture among the leaders of the surveyed enterprises, the most numerous of which was mixed psychological culture. Androgynes (50 leaders) and unspecified cultures (46 leaders) constituted a total of 64% of the sample. With a few exceptions, there were no statistically significant differences in the entrepreneurial orientation, selected entrepreneurial behaviours, or involvement in responsible social activities of the identified gender cultures. Implications & Recommendations: Women can and should perform managerial functions in business and achieve success, provided they acquire instrumental traits in the socialization process. The combination of instrumental and expressive traits in a person, especially in a manager, increases their adaptive intelligence and the probability of success regardless of biological sex. The postulate of gender diversity in top management is justified but in terms of psychological gender, not biological sex. Contribution & Value Added: The research results show that the leaders of the fastest-growing companies have developed both instrumental and expressive features, which may indicate their high adaptive intelligence. Masculine culture differs from the others in a greater, statistically significant, feature: readiness for fierce competition and a lower declarative orientation towards climate protection, safe products, and concern for the local community in terms of social activity. The leaders’ cultural, entrepreneurial, and social profiles have additional cognitive value. The results contribute to the development of the following areas: managerial competences, role congruity theory, the theory of higher echelons, and social/psychological gender in business.
Copyright (c) 2025 Wojciech Popczyk, Alicja Winnicka-Popczyk, Zaklina Jablonska https://creativecommons.org/licenses/by/4.0
A thirty-year evolution of enterprise resilience research: A scoping review
Objective: The article presents a scoping review of the literature on enterprise resilience covering the last 30 years. Research Design & Methods: I conducted the research in a qualitative-quantitative convention. I based the research methodology on the requirements of the scoping review method, with the support of the recommendations resulting from PRISMA-ScR. I used a one-step logical classification method to create the categorization of the scope. To ensure the review’s comprehensiveness, I also conducted a visual analysis of the obtained findings, in terms of both scope definition and keywords analysis. Findings: The review allowed me to outline and categorise the scope of the literature dedicated to enterprise resilience. Of the 2117 publications searched, 454 met the inclusion criteria. Furthermore, I identified 1727 keywords, of which I selected 128 for analysis. I categorised the texts qualified for analysis under seven scope categories and grouped the analysed keywords into twelve clusters. The largest percentage of the texts fell into the scope category called ‘building a resilient enterprise.’ Implications & Recommendations: I identified a definite shortage of texts on resilience strategies and mechanisms for measuring resilience, the proportion of which in the set of reviewed texts was far lower than expected. Therefore, these areas should determine the direction of future research. The results of the scoping review show implications for the development of theories concerning the identification of as yet unexplored research gaps and for applications in terms of providing a compendium of knowledge on good pro-resilience practices for enterprises across different sectors. Contribution & Value Added: This article is a contribution to research on enterprise resilience. Thanks to the adopted scope of analysis, the number of included texts, the methodological approach and the synthesis of results, it fills the identified research gap and reliably presents a comprehensive scope of the literature in this area.
Copyright (c) 2025 Sylwia Bąk https://creativecommons.org/licenses/by/4.0
Analysis of the circular management model of information and communication technology resources of large enterprises in the European Union
Objective: The aim of this article is to determine the level of differentiation of large enterprises operating in the European Union in terms of the sustainable use of information and communications technology tools and to reduce the dimension of variables describing the circular model of managing information and communications technology solutions. Research Design & Methods: We used quantitative analysis, considering secondary data from the Eurostat database for 2022 from the information and communications technology (ICT) and the environment by the size class of the enterprise section. We conducted a pilot study using data from large enterprises from 27 European Union countries. We analysed data using the diagnostic-descriptive method, principal component analysis, MOORA method, and linearly ordered object grouping. Findings: The research results indicate that large enterprises represent different levels of circularity in the use of green IT/ICT related to the selection, use, and disposal of devices. Most entities operating in 18 European Union countries achieve an average level of circularity of ICT devices. Thus far, they have not included the reuse of ICT devices in the procedure consistent with the 3R circularity principle. The process of selecting, recovering, and recycling ICT equipment is carried out unevenly and in stages. On the other hand, the indicator of pro-environmental involvement displays low intensity, and in such a situation, the surveyed entities did not achieve the strategic goals assumed by the European Union in the field of circular economy regarding the selection and use of ICT equipment. Implications & Recommendations: The research results enable managers to develop circular business models by reducing the consumption of raw materials, waste, greenhouse gas emissions, and energy. They support strategic decisions on the transition from a linear model of ICT equipment management to a circular model. They also support European Union policymakers in developing legal regulations aimed at closing material and energy loops. Moreover, they provide guidance on the allocation of financial support to improve the level of circularity of large enterprises. Contribution & Value Added: The article makes a significant contribution to the development of the circular economy theory by developing an original indicator of pro-environmental involvement in the process of selecting ICT equipment and conducting a comprehensive analysis of circularity in the management of ICT devices in large enterprises of the European Union. The conducted research reveals significant differences in the implementation of the principles of the circular economy in the countries studied, constituting a starting point for further actions to improve efficiency and transfer best practices in this area.
information and communication technologies
Copyright (c) 2025 Małgorzata Sztorc, Konstantins Savenkovs https://creativecommons.org/licenses/by/4.0
A complex phenomenon of students’ entrepreneurial potential
Objective: This study extends beyond traditional research focused on entrepreneurial aspirations or cultural factors by proposing a universally applicable model to evaluate the entrepreneurial potential of both local and international students. It also aims to identify the characteristics of students with high entrepreneurial potential. By understanding these capabilities, higher education institutions can create more targeted and effective entrepreneurial education programs. Research Design & Methods: This study explores the entrepreneurial potential among university students. We collected the data from 1 554 students studying at the University of Information Technology and Management (UITM) in Rzeszów, Poland. The study identifies four basic dimensions of entrepreneurship (creativity, motivation, locus of control, and risk-taking). Thus, its results determine students’ ‘entrepreneurial potential.’ We measured the reliability of the constructed dimensions by Cronbach’s alpha coefficient. We implemented a confirmatory factor to confirm the factor structure and assess the model's goodness-of-fit to the data. Findings: The study identifies statistically significant differences in entrepreneurial potential among diverse demographic groups and backgrounds. It highlights the defining characteristics of entrepreneurial students, offering a comprehensive understanding of the factors that drive student entrepreneurship. Implications & Recommendations: The research introduces the student entrepreneurial potential scale as a globally applicable tool and thus enables universities to assess and understand the entrepreneurial potential of their student populations. This allows institutions to design customized and impactful entrepreneurial education programs. Contribution & Value Added: The contribution to the literature is significant because of the UITM’s cultural diversity (one-quarter of students are international). The study included various demographic characteristics such as age, employment status, degree level, and country of origin. The comprehensive sample allowed us to create a profile of a student with high entrepreneurial potential. Such a student is typically a 19-21-year-old, studying programming, full-time in English at the undergraduate level, originating from Kazakhstan, China, or India.
institutional support for entrepreneurship
Copyright (c) 2025 Sarp Güneri, Michalina Mróz, Hakki Polat, Tomasz Skica https://creativecommons.org/licenses/by/4.0
The counterparty credit risk appetite in the Polish over-the-counter derivatives market
Objective: The article aims to study the selected approach used to manage the counterparty credit risk, namely the application of the pre-settlement risk limits in the Polish over-the-counter derivatives market between financial institutions and non-financial counterparties. Since market practice differs in terms of hedging the same risk exposures of non-financial counterparties, the main goal is to identify and analyse key factors determining the risk appetite of financial institutions reflected in the pre-settlement limit amount. Research Design & Methods: I based the theoretical considerations on the literature analysis. I utilized secondary data analysis and desk research, in particular concerning legal regulations both on the European and Polish levels. It considers credit policies and the counterparty credit risk rules of selected banks listed on the Warsaw Stock Exchange that offer derivative instruments for non-financial counterparties in order to hedge against specific market risks. I investigated all required information and data obtained and proceeded by banks for treasury limits. For this purpose, I analysed credit application forms and treasury limit applications. Next, I investigated the principles for managing counterparty credit risk as well as appropriate credit policy. A case study presents key differences in banking services provided for a non-financial counterparty willing to hedge market risks. Findings: I applied a holistic approach to the counterparty credit risk policy and identified key factors affecting the counterparty credit risk appetite within financial institutions, reflected in the pre-settlement limit granted to non-financial counterparties in the Polish over-the-counter derivatives market. These determinants concern areas such as specific hedging instruments, given counterparty and financial institutions, as well as the regulatory environment. Implications & Recommendations: The pre-settlement risk limits serve not only to cover credit exposure but also to support and enhance the entire market risk management process and day-to-day operations in financial institutions. One may also regard the implemented treasury limit setup, risk factors, margining policy, etc., in the context of competitive advantage that financial institutions may gain and thus attract more derivative business. Hence, it is crucial to recognize determinants influencing the treasury limit amount. Contribution & Value Added: Although the main analysis of counterparty credit risk concentrates on interbank operations, mainly due to their high systemic importance, the management of the pre-settlement risk in the over-the-counter derivatives market between the financial institution and non-financial counterparty should be considered in more detail due to its growing importance. This article intends to systematize knowledge on this topic. The case study utilising international and domestic experiences shows different approaches to mitigate financial risks. The question of which approach to risk management is more effective remains open.
Copyright (c) 2025 Piotr Wybieralski https://creativecommons.org/licenses/by/4.0
Barriers to the foreign expansion of small and medium enterprises: Example of Subcarpathian exporters
Objective: The article aims to present determinants of the activity of the small and medium enterprises (SME) sector. Moreover, we attempted to identify barriers to the internationalisation process and the degree of perceived difficulties in Subcarpathian SMEs. Economic literature devotes a lot of space to enterprises’ internationalisation processes. Numerous theories and their empirical verifications explain this process by analysing the activities of large transnational corporations. The emergence of a global competitive environment has resulted in micro, small and medium-sized enterprises (SMEs) being involved in the internationalisation process. Research Design & Methods: In addition to the classic literature analysis, we utilized a survey of internationalized enterprises operating in the Subcarpathian region. We attempted to identify external and internal barriers to internationalisation in SME enterprises. We evaluated differences in the perception of difficulties associated with the existence of individual obstacles in groups of enterprises separated by their size using the non-parametric Kruskal-Wallis test. Findings: The article presents the determinants of the activity of the SME sector in the economic process or their export activity. Research confirms that SME enterprises in Poland, as a rule, are characterized by low resource potential, which causes them to conduct foreign expansion in less advanced forms, mainly in the form of internationalisation of the sphere of exchange. Implications & Recommendations: The research indicates the main internal and external barriers perceived by Subcarpathian exporters. At the same time, they confirm the thesis that SME foreign expansion is mainly conducted in the form of exports. SME companies, often having limited resources while being creative and innovative, choose this very form, which gives them opportunities not only to enter a foreign market and gain experience but also to gain new contacts, learn about the requirements of the target market’s customers or become familiar with international business. Contribution & Value Added: It is essential to indicate whether they conduct the internationalisation process similarly or perceive the same barriers to entry into the foreign market. The variety of forms of the internationalisation process and the many factors determining it, create great research opportunities. Still, they are associated with difficulties in inference and give rise to the danger of using simplifications or generalisations.
Copyright (c) 2025 Katarzyna Puchalska, Agnieszka Majka, Patrycja Żegleń https://creativecommons.org/licenses/by/4.0
Greenhorns or old stagers: Is equity crowdfunding in Poland inclusive?
Objective: The article aims to indicate whether equity crowdfunding (ECF) in Poland is inclusive and whether the attributes of inclusivity influence the campaign’s success. Research Design & Methods: The research covers all ECF campaigns in Poland from 2012-2022. The data collection includes details on equity offers, the companies’ top management teams (TMT) structure, and crowdfunding campaign results. We implemented the ANOVA analysis to verify the hypotheses, and further, based on the data obtained, we built the regression models. Findings: Most of the surveyed entities are characterized by a lack of inclusive attributes. The dominant part of entities founded by ECF are companies located in Warsaw or the capitals of voivodships, managed by men aged between 31-59. Implications & Recommendations: The results show that there is no reason to believe that issuers who are gender inclusive will be more successful in ECF. Moreover, there is no evidence to reject the claim that the inclusiveness of the issuer measured by the age of the CEO can affect the success of the issue. However, the location of the issuer can affect the success of an ECF offer. Contribution & Value Added: Previous research on inclusivity has been conducted mainly in countries with high ethnic diversity. This research identifies the attributes of inclusiveness appropriate for ethnically homogeneous countries. Moreover, we conducted a comprehensive analysis of companies active in the ECF market in Poland.
Copyright (c) 2025 Dominika Kordela, Mariusz Kicia https://creativecommons.org/licenses/by/4.0
The role of innovation in the internationalisation process of Slovakian businesses
Objective: The article aims to examine the relationship between innovation and export performance among Slovak firms. In particular, we investigated whether innovative activities, including process and product/service innovations, significantly enhance export intensity, and how firm size moderates this relationship. Research Design & Methods: This study adopted a quantitative research design to examine the relationship between innovation and export performance among Slovak firms. We based the empirical analysis on a sample of 292 firms, whose secondary data included measures of export performance and innovation indicators. The analysis employed both descriptive statistics and the Mann-Whitney U test. We performed data analyses using Excel and Statistica. Findings: The empirical results revealed that innovative firms, regardless of their size, exhibited substantially higher export intensity compared to non-innovative counterparts. Specifically, small innovative companies exported an average of 19.34% of their total sales versus 8.33% for non-innovative ones; the difference increases for medium-sized firms (44% vs. 17.96%) and large companies (57.26% vs. 40.85%). Moreover, further analysis highlighted that firms implementing process innovations achieved markedly higher export sales, while those combining both process and product/service innovations experienced a synergistic boost in export performance. The Mann–Whitney U test confirmed that these differences are statistically significant, reinforcing the notion that innovation is a pivotal driver of international market success. Implications & Recommendations: The findings suggest that policymakers and business leaders should prioritize fostering innovative practices to enhance export performance, especially among medium and large enterprises. To capitalize on innovation as a growth engine, recommendations include increased support for R&D, streamlined access to funding for innovative projects, and the development of strategic programs aimed at integrating process and product innovations simultaneously. Such measures are expected to contribute to improved competitiveness and greater international market expansion for Slovak firms. Contribution & Value Added: The novelty of this article lies in its targeted focus on Slovak enterprises – a mid-sized economy – using a robust quantitative approach that integrates World Bank Enterprise Surveys data with the application of the Mann–Whitney U test. Unlike prior studies that primarily focus on larger economies, this research provides context-specific insights into the interplay between innovation and export performance in Slovakia, offering nuanced evidence on how different innovation types and firm sizes interact to shape international competitiveness.
Copyright (c) 2025 Jakub Garncarz, Adam Michalik https://creativecommons.org/licenses/by/4.0
Kwantyfikacja przedsiębiorczości kraju z wykorzystaniem narzędzi taksonomii relatywnej: przykład państw Unii Europejskiej
Cel artykułu: Celem artykułu jest przedstawienie i zweryfikowanie zaproponowanej metody kwantyfikacji przedsiębiorczości na poziomie kraju. Zaproponowana metoda wpisuje się w instrumentarium taksonomii relatywnej, a jaj egzemplifikacja zostanie przeprowadzona na grupie krajów Unii Europejskiej (UE26) bez Malty i Grecji. Metodyka badań: W części teoretycznej jako metodę badawczą wykorzystano krytyczną analizę literatury, zaś w części empirycznej metody statystyczne i taksonomiczne. Do ewaluacja poziomu przedsiębiorczości krajowej zastosowano miarę względną (inaczej relatywną, syntetyczną). Badanie przeprowadzono na grupie krajów Unii Europejskiej (bez Malty i Grecji). Okres badawczy to lata 2011-2016 lub 2012-2017. Wyniki: Wyniki badań potwierdziły zasadność stosowania miary relatywnej w tego typu badaniach. Takie podejście pozwala na ujęcie wielowymiarowości przedsiębiorczości kraju, jak również porównywanie badanych krajów i ich hierarchizowanie. W badanej grupie widoczne jest umiarkowane zróżnicowanie przedsiębiorczości. Najwyższy poziom przedsiębiorczości widoczny jest w Estonii, Holandii i Wielkiej Brytanii, zaś najniższy we Włoszech, Portugalii I Hiszpanii. Wkład i wartość dodana: Wartością dodaną artykułu jest zaproponowanie metody ewaluacji przedsiębiorczości krajowej – poziom makro. Dzięki temu dokonano porządkowania i porównania przedsiębiorczości krajów Unii Europejskiej. W literaturze odczuwalny jest brak tego typu opracowań empirycznych. Stanowi to tym samym wkład w rozwój badań w dyscyplinie ekonomia międzynarodowa (przedsiębiorczość międzynarodowa).
Copyright (c) 2019 International Entrepreneurship | Przedsiębiorczość Międzynarodowa
Market and marketing within the concept of functioning and development of cultural heritage sites
Objective: The article presents the conditions, factors, and stages of development of the market orientation of cultural heritage objects. The author introduced a terminological distinction – the cultural potential of the object and its market potential. The market potential is understood as the ability to generate revenues from commercial activities (products and services). Research Design & Methods: The conceptual nature of the article determined the scope of methods used in diagnosing, analyzing, and synthesizing the phenomena and processes discussed. These were primarily critical literature studies, which usually limited considerations of the market role of cultural heritage objects to the cases of museum institutions and their tourist functions. Findings: Developing and organizing knowledge about the market concept of the functioning of cultural heritage objects, as well as indicating the main directions in the strategic marketing management of these objects. Besides, the paper points out the relationship between the cultural potential and market potential of historic buildings and outlines its significance. Contribution & Value Added: The presented concept of market orientation of cultural heritage objects breaks with the narrow understanding of the market of these objects and its only marginal role in generating development factors. The sustainable development of historic buildings should be focused on a balance between its functional goals (protection and conservation), socio-civilization goals, and economic ones.
Copyright (c) 2019 International Entrepreneurship Review (dawniej: Przedsiębiorczość Międzynarodowa)
An attempt to estimate the competency gap in the IT sector
Objective: The aim of this article is to determine whether there is a gap between the demand for competencies of graduates of the computer science major and their supply. Research Design & Methods: Identification of the key set of competencies required by employers from job applicants and estimation of the competency gap in the IT sector was conducted using the method of exploratory analysis of job offers for positions related to the administration of IT systems. Findings: The results of the preliminary research shown that proposed method can be used for estimation of competency gap however it requires more experiments. Contribution & Value Added: Proposition of new method for competency gap calculation based on exploratory analysis of data available in the Internet.
Pro-environmental attitudes and behaviours of young adults in shaping the market offer in the international dimension
Objective: The objective of the article is to identify selected pro-environmental behaviours (along with their determinants) of young adults from Polish and Spanish universities and to determine which of them should be taken into account in shaping the market offer of modern international companies. Research Design & Methods: The basis for the conclusions was qualitative research conducted with the use of an online questionnaire. The survey covered students of Polish universities, from whom 540 completed questionnaires were obtained, and students of a Spanish university – 54 questionnaires. The analysis of cross-tabulation in various sections was carried out using the Pearson Chi-square statistics, the contingency coefficient and Cramer's V coefficient. Findings: Young adults from Spain less often than respondents in Poland believe that their lifestyle is environmentally friendly and are more critical of the intensity of involvement of modern people in pro-environmental activities. The positive opinion of Polish students about themselves does not correlate with their behaviour – they participate in protest marches or monitor the network activity of pro-environmental organisations less often than Spanish students. In the case of respondents from Spanish university, essential determinants of their pro-environmental activity turned out to be the following variables: “a source of income” and “a form of study”, while for students from Polish universities, these were “gender” and “a year of birth.” Implications & Recommendations: The pro-environmental elements of the product offer will be appreciated faster in the Spanish market than in the Polish market. At the same time, the offer with such elements will be more popular among younger people, women, and people from big cities. It will be easier to convince the Spanish community of the restrictions on using private cars in urban spaces. The pro-environmental elements of the job offer will be essential only for almost 20% of candidates from Spain and nearly 10% of applicants from Polish universities. Contribution & Value Added: Describing the intensity of pro-environmental behaviour of young adults from selected universities in Poland and Spain. Separating statistically significant relationships between selected pro-environmental behaviours of young adults from the Polish and Spanish markets and their demographic characteristics.
Copyright (c) 2022 International Entrepreneurship Review
Understanding academic entrepreneurship: A signalling theory perspective
Objective: The objective of the article is to apply signalling theory to explain researchers’ engagement with the industry and the barriers to collaboration. Research Design & Methods: A mixed-mode study was carried out among scholars to explain the role of signalling on academic entrepreneurial engagement. The links between signalling and entrepreneurial engagement were assessed in the quantitative part using a sample of researchers from Poland. Moreover, qualitative research helped identify additional forms and barriers of signalling, which were not considered in the quantitative part. The IBM SPSS Statistics and Atlas.ti software was used in the data analysis. Findings: In line with signalling theory, scientists’ signals were divided into three groups: individual and organizational characteristics, researchers’ actions, and third-party endorsements. Results show that the third-party endorsements expressed by researchers’ active involvement in professional organizations enhance entrepreneurial engagement. In the qualitative part the role of signalling through graduates and the problem of the signalling cost were identified. Implications & Recommendations: Signalling sheds light on university-industry relationships through a new lens, explaining the matching process and cooperation barriers. Stimulating collaboration requires understanding the specific language of signals used by both scientists and business partners. Therefore, this research calls for action to strengthen scientists’ communication skills, more frequent interpersonal contacts with business representatives, and communication of scientific and non-scientific competencies. Contribution & Value Added: The theoretical focus on signalling theory can advance the extensive research on academic entrepreneurship. This theory explains how actors are selected for cooperation and describes the mechanism of partner selection. It also enables the reinterpretation of previous research related to the characteristics and activities of researchers and their relevance for undertaking collaborations.
The UK-China economic and political cooperation: The Brexit implications
Objective: The research aimed to examine the strength and nature of the UK’s relations with China under new circumstances caused by Brexit. Specifically, this article attempts to answer what was the impact of Brexit on economic and political relations between the UK and its significant economic partner, China. In pursuance of the goal, the authors discuss the economic and political implications of a new status quo in bilateral cooperation in the field of trade and investment and the political aspects of Brexit for both partners. Research Design & Methods: We explored the UK-China relationship in the context of Brexit implications using a literature analysis and examined the strength and nature of economic relations between countries mentioned above using the trade orientation and intensity indicators. Findings: Brexit created a new landscape for bilateral cooperation between the UK and its partners worldwide. The long-term consequences of Brexit will continue to unfold in years to come, but we may already recognize some early trends in bilateral relations. The analysis of the UK’s trade orientation based on the historical data for the period 2013-2022 revealed the decreasing significance of Germany and the increasing position of China and the United States as the UK’s trading partners. Moreover, the analysis of trade intensity revealed the lowest trade intensity between the UK and China post-2012 compared with Germany and the US. Nevertheless, the values of the trade intensity index with China indicate that there is still potential to increase exports to China. Implications & Recommendations: The proposed set of indicators can serve to question the major tendencies of bilateral trade. Together, the indicators portray a comprehensive picture of interdependence and the strength of existing connections between two countries and help examine whether cooperation is strengthening or weakening. The orientation index identifies the strength and importance of the relationship with the trading partner relative to other trade relations’ significance and monitors the progress of the cooperation, while the trade intensity index can be used to determine whether the value of trade between two countries is greater or smaller than expected based on their importance in world trade. The analysis results will allow scholars to determine possible actions that should be undertaken by the UK and – possibly – the EU to develop trade and investment cooperation with China in a more balanced way. Contribution & Value Added: The article extends the knowledge of Brexit’s economic and political implications for UK-China bilateral cooperation. Furthermore, the article presents a comprehensive analysis and evaluation of the current UK-China relations in the context of Brexit. We examined economic relations between the countries mentioned by means of trade orientation and intensity indicators.
Copyright (c) 2023 Luiza Kostecka-Tomaszewska, Monika Krukowska
Questing benchmarks for the current ratio: An analysis of the Warsaw Stock Exchange firms
Objective: The first objective of the article is to assess the benchmarks for the current ratio commonly provided in the accounting and financial analysis literature. The minor objective is to arrange a research methodology permitting the accomplishment of the first objective. Research Design & Methods: The paper, apart from the literature review and its critique, presents the results of descriptive, quantitative research. The research sample consists of 5 148 firm-years. Data were retrieved from Worldscope Database via Refinitiv Eikon for domestic, going concern, non-financial companies listed on the Warsaw Stock Exchange from 2005 to 2021. For comparison, the U.S.-related data was retrieved from Internet resources as ready-made ratios. Methods used in the analysis include descriptive statistics, parametric and nonparametric ANOVA, confidence intervals, and linear and parabolic trend analysis. Findings: The tests show that identifying a benchmark for the current ratio is problematic. Benchmarks vary between countries and industries; universal standards do not exist. The benchmark for the current ratio commonly suggested, 1.2-2.0, may be used only as a rough evaluation of the desired value. The findings indicate that the acceptable range for CR is much broader, from 1.1 (the first quartile) to 2.3 (the third quartile) for the total sample. Moreover, the SIC division's quartiles vary from 0.7 to 1.2 (the first) and from 1.6 to 3.6 (the third). Statistical tests indicate that benchmarks do not vary annually. However, the distribution's median and the third quartile change slowly over time toward higher values. The Covid-19 pandemic resulted in a substantial increase. On the contrary, the first quartile of about 1 remains relatively stable over time, indicating the reasonable lower bound for CR. The mean of the distribution is useless as a benchmark because of its sensitivity to outliers. Various techniques must be used to assess the benchmark. Implications & Recommendations: Since there are material between-industry and between-country differences in benchmarks, analysts and investors should be very sensitive to the standards suggested in the literature and interpret them cautiously. Variability over time exists but is low unless a shock in the economy appears. Contribution & Value Added: The main contribution of the paper is empirical verification of the benchmarks for the current ratio provided in the literature. Tests show that suggested benchmarks are not universal. Seeking a benchmark, an analyst must compare the firm's financial standing with other firms from the same country, industry, and period.
How to attract migrant entrepreneurs to peripheral regions? Evidence from Poland
Objective: The article aims to identify market entrance barriers faced by migrant entrepreneurs and reasons for the attractiveness of specific places when starting a business in so-called peripheral regions. Research Design & Methods: This article presents the results of a qualitative study based on semi-structured interviews, for which 21 migrant entrepreneurs were interviewed in 2019 and 2020 in Opolskie Voivodeship. Findings: The findings suggest the respondents selected the Opolskie Voivodeship for business activities on the bases of socio-spatial embeddedness. Neither the entrepreneurial ecosystem nor the promising economic situation were identified as meaningful for starting or growing businesses. Implications & Recommendations: Drawing on the findings, the authors developed practical implications for policymakers. Attention should be given to tools attracting migrants to peripheral regions. Established migrant entrepreneurs in peripheral regions could be integrated into a regional attraction concept and make the local ecosystem more inclusive for this group of entrepreneurs. They may be turned into practice by giving them the right to member and participate in official networks of the economic development agency or the chamber of commerce. In general, the openness of migrants to reach out to support infrastructures for business creation should be actively addressed. Contribution & Value Added: The research fills the research gaps relating to the spatial dimension and the regional context of the presence of migrant entrepreneurs in the peripheral areas of Poland.
Copyright (c) 2023 International Entrepreneurship Review
Foreign direct investment as a pull factor of the economic growth in Ukraine in the period 2003-2016
Objective: The aim of this paper is to present the results of investigation of the interlink between FDI and the economic growth in Ukraine in the period 2003-2016. Research Design & Methods: Methods applied in the study are analysis and synthesis of the literature on the subject as well as quantitative tools: descriptive statistics and linear regression. The GDP per capita and FDI inflow are taken into account in years 2003-2016. Findings: Many researchers relate the impact of FDI on the economic growth as the positive one. Basing on the literature review, the regression model was used to identify the behaviour of the interlink in the example of one developing country and the economic growth was expressed by the indicator GDP per capita. This paper highlights and proves the positive impact of FDI on the economic growth in Ukraine in the analysed period with the use of regression model. Moreover, the political instability has a negative impact on both FDI inflows and the economic growth. Contribution & Value Added: The originality of this research is in introducing and highlighting the importance of involving the FDI in Ukraine in order to reach speeder economic growth.
Copyright (c) 2018 International Entrepreneurship | Przedsiębiorczość Międzynarodowa
Fuzje i przejęcia jako strategia rozwoju firmy: przykład polskich przedsiębiorstw
Celem artykułu jest przedstawienie fuzji i przejęć jako istotnych elementów strategii rozwoju przedsiębiorstw. Problemem badawczym podjętym podczas analizy było wykazanie wpływu połączeń przedsiębiorstw na pozycję podmiotów w gospodarce krajowej i zagranicznej oraz przedstawienie trendów fuzji i przejęć. Przyjętą metodą badawczą jest analiza ilościowa przeprowadzanych fuzji i przejęć, oparta na danych IMAA (Institute for Mergers, Acquisitions & Alliances). W ramach przeprowadzonej analizy fuzji i przejęć ukazano, że są to procesy powszechnie występujące, mające znaczący wpływ na rozwój i kształt przedsiębiorstw – zarówno pozytywny, jak i negatywny. Wykazano falowość zjawiska występowania fuzji i przejęć oraz na podstawie omówionych przykładów polskich przedsiębiorstw udowodniono, że odpowiednia strategia rozwoju jest niezbędnym elementem sukcesu tego typu transakcji. W stosunku do istniejącej literatury przedmiotu artykuł analizuje aktualne trendy i tendencje konsolidacji przedsiębiorstw na świecie, ze szczególnym uwzględnieniem Polski.
Behawioralne aspekty światowego kryzysu finansowego w latach 2007-2010
Niniejszy artykuł koncentruje się na alternatywnym podejściu do wyjaśnienia zaistnienia ostatniego kryzysu z lat 2007-2010, jaki oferuje ekonomia behawioralna. Jego celem jest odejście od klasycznego modelu i przeanalizowanie wpływu czynnika psychologicznego na wywołanie, a także przebieg ostatniego kryzysu. W artykule wykorzystano zróżnicowany materiał źródłowy oraz zaczerpnięto z dorobku naukowego zarówno polskich, jak i zagranicznych autorów. Ponadto, w pracy podkreślono nierealistyczność założeń przedstawianych przez standardową ekonomię oraz ukazano potrzebę zwracania większej uwagi na psychologiczne podstawy ludzkiego działania oraz motywy i skłonności jakimi kieruje się człowiek w dokonywanych przez siebie wyborach. Identyfikacja i analiza zachowań, które wyraźnie odbiegają od modelu homo oeconomicus, a także umiejscowienie ich w czasach poprzedzających kryzys lub w trakcie jego trwania, bezsprzecznie pokazuje, że behawioralne aspekty ludzkiego działania odegrały bardzo ważną rolę w procesie ukształtowania się ogólnoświatowej depresji. Artykuł dowodzi, że nieuwzględnianie czynnika psychologicznego niesie ze sobą poważne ryzyko zbagatelizowania wielu zagrożeń wynikających z niedoskonałości ludzkiego umysłu, działania pod wpływem emocji oraz innych nieracjonalnych zachowań, których podmioty istniejące na rynku nie potrafią się ustrzec.
Competitiveness of innovation-driven economies: Insights from selected European countries
Objective: The aim of this paper is to analyse the role of innovation in competitiveness development and to identify the most competitive European economies. From the perspective of contemporary challenges, the following research question will be considered: How innovations determine development of the most competitive European economies? Research Design & Methods: Besides employing critical literature analysis, the research methods based on quantitative synthesis will also be used. Interpretations are developed through an in-depth comprehensive review of different studies and secondary data analysis. Findings: The results provide valuable insights into how innovations determine development of the most competitive European economies. Measuring competitiveness relies on taking into account both supply-side and demand-side indicators. Based on the GCI both the demand-side as well as the supply-side innovation indicators were identified. Contribution & Value Added: The novelty of the study consists, on the one hand, in developing the conceptual framework for innovative competitiveness that contributes to the shaping of socioeconomic transitions and, on the other hand, in determining the innovation-driven factors of the most competitive European countries.
Wpływ szybkości internacjonalizacji i kapitału zagranicznego na intensywność eksportu: przypadek startupów międzynarodowych
Cel artykułu: Głównym celem artykułu jest zaprezentowanie wyników badań nad startupami międzynarodowymi, z uwzględnieniem znaczenia szybkości internacjonalizacji oraz kapitału zagranicznego w wyjaśnianiu intensywności ich eksportu na przykładzie krajów Grupy Wyszehradzkiej. Metodyka badań: Artykuł, oprócz krytycznego przeglądu literatury, opiera się na danych zebranych w ramach badania BEEPS, które zostało przeprowadzone wśród przedsiębiorstw zlokalizowanych w krajach post-komunistycznych w Europie i Azji Środkowej. Po przeprowadzeniu odpowiedniej selekcji wybrano ostatecznie 158 startupów międzynarodowych pochodzących z Polski, Czech, Słowacji i Węgier. W badaniu sprawdzono istnienie zależności pomiędzy intensywnością eksportu startupu międzynarodowego a szybkością jego internacjonalizacji. Ponadto, zbadano również wpływ kapitału zagranicznego na intensywność eksportu startupu międzynarodowego. Wyniki: Umiędzynarodowienie startupów przebiega szybko. Wyniki badania pokazują, że udział kapitału zagranicznego w strukturze właścicielskiej startupu ma duże znaczenie, gdyż przyczynia się do zwiększenia intensywności jego eksportu. Wkład i wartość dodana: Artykuł ma na celu wzbogacenie trwającego dyskursu naukowego na temat roli kapitału zagranicznego i szybkości internacjonalizacji w startupach międzynarodowych.
The EU-Japan relations: Selected aspects
Objective: The aim of the paper is to prove that in a world where instability is increasing and security is reduced, the EU and Japan are fulfilling their obligation to bear special responsibility for the implementation of the common western values they represent. Research Design & Methods: The research method is based on the critical review of literature and the analysis of source materials (the texts of the Agreements and official documents). We run a policy analysis. We examine the law as a tool for policy implementation (New International Legal Process). We draw conclusions based on them. Findings: The EU-Japan Agreements confirm the community of values on which they are embedded and create conditions for strengthening these values. Contribution & Value Added: The contribution is here that we show the importance of Agreements between the EU and Japan, which stems from both endogenous factors, resulting from economic and political potentials of the Parties; as well as from the exogenous factors, in the form of external determinants of cooperation, such as recent turbulence in US politics.
The concepts of strategy and business models in firm internationalization research: Towards a research agenda
Objective: To discuss concepts of strategy and business models and reflect upon their commonalities and mutual relationships. Discussion about usage of both concepts with regard to the international expansion decisions. Research Design & Methods: The article is based on the literature studies. Findings: Some of the dimensions of both concepts, including the operating modes, choice of products or markets, are common to both concepts. However, internationalisation appears to be an integral part of corporate-level strategy which defines the directions of long-term firm development, including the geographic dimension. Thus, considering different geographic commitments as partly independent, one can assume that while the entire firm has a business model as a whole, there can also be varieties of business models within the same organisation, which are a consequence of its growth, particularly internationalisation. Contribution & Value Added: Internationalisation research can also contribute to the stream on business model innovation, as the internationalisation of a firm’s operations can be regarded as an organisational innovation in itself. A business model innovation requires a firm to timely and effectively identify and anticipate relevant developments in its constantly changing environment. The initiative to innovate an established business model has been identified as highly challenging due to its complexity and a range of barriers, particularly widespread inertia.
Zrównoważony rozwój jako nowa kategoria wartości w modzie luksusowej? Wyniki jakościowych badań międzynarodowych sprzedawców
Cel artykułu: Celem artykułu jest ukazanie przejawów i przyczyn rozbieżności w komunikowaniu zrównoważonego rozwoju (jako komplementarnej kategorii wartości) przez właścicieli marek i sprzedawców w branży mody luksusowej. Metodyka badań: Zastosowano badania jakościowe w formie utajonych zakupów przeprowadzonych w latach 2017-2018 w czterech miastach: Singapurze, Dubaju, Paryżu i Berlinie w sklepach 10 światowych marek mody luksusowej. Wyniki: Niskie zainteresowanie konsumentów kwestiami zrównoważonego rozwoju, połączone z brakiem nacisku na wdrażanie tej idei w domach mody skutkuje niewielką wiedzą sprzedawców i komunikowaniem zrównoważonego rozwoju jako kategorii wartości. Wkład i wartość dodana: Znaczenie zrównoważonego rozwoju jako komplementarnej wartości luksusu wzrasta wśród konsumentów pochodzących z Europy, Stanów Zjednoczonych lub Kanady, podczas gdy dla odbiorców z Dalekiego Wschodu wciąż jest kategorią nieistotną w podejmowaniu decyzji zakupowych. Nacisk na krzewienie i wdrażanie tej idei jest funkcją zarówno zainteresowania nią ze strony konsumentów, jak i znaczenia, jakie przywiązuje do niej sama marka.
Terroryzm a konkurencyjność polskiego handlu zagranicznego z krajami Unii Europejskiej
Cel artykułu: Celem tego artykułu jest ukazanie, czy i jak terroryzm wpływa na konkurencyjność handlu zagranicznego, na przykładzie wymiany Polski z krajami Unii Europejskiej, w których w ostatnim dziesięcioleciu doszło do zamachów. Metodyka badań: Jako główną metodę zastosowano analizę wskaźników konkurencyjności. Artykuł analizuje przy pomocy wskaźników RCA i IIT potencjalne skutki dla konkurencyjności gospodarek, ze szczególnym uwzględnieniem państw Unii Europejskiej. Zbadano, czy zamachy terrorystyczne w Unii wpłynęły na zmianę konkurencyjności handlu Polski z krajami nimi dotkniętymi. Wyniki: Na podstawie osiągniętych wyników można stwierdzić, że choć terroryzm w dłuższym okresie wpływa na konkurencyjność gospodarek, to jednak siła wpływu zależy od ich ogólnej kondycji i stopnia rozwoju systemu zabezpieczeń, a w przypadku Polski zależność ta nie jest silnie widoczna. Wkład i wartość dodana: Wartością dodaną artykułu jest obliczenie wskaźników, autorska analiza skutków terroryzmu w nowym kontekście.
Standard of residency in Poland and selected European countries: Comparative analysis
Objective: The aim of the paper is to present the standard of residency in the European Union countries, in particular against the background of the housing policy implemented in selected EU countries. Research Design & Methods: Linear ordering and hierarchical clustering were used for statistical comparative analysis of studied countries. The data on the surroundings of the home and the financial capacity of respondents to maintain the home are taken into account. The data were taken from EQLS (European Quality of Life Survey) – the 4th-edition survey was held in 2016 and 2017. Findings: The article shows significant differences in the standard of residency among European countries. In separate areas for assessing the housing situation, no country ranked first in all areas at the same time. In some cases, the position of a given country (e.g. Finland) is fundamentally different due to the considered area of standard of residency assessment. In terms of a multidimensional assessment of this standard, Poland is generally better rated than using commonly used housing situation indicators (e.g. the number of rooms per person). Contribution & Value Added: An added value is the proposal to measure the housing situation of the population not only on the basis of measuring one or two indicators, but in a multidimensional approach with separate areas of assessment. This allows for a broader and deeper look at the problem of satisfying one of the basic human needs of living.
The importance of swap transactions in the evolution of the Polish currency market and the OTC interest rate derivatives market
Objective: The article aims to present the importance of swap transactions in the evolution of the Polish currency market and the OTC interest rate derivatives market. Research Design & Methods: The theoretical considerations in the article were based on a critical analysis of the literature on the subject. In turn, the empirical part of this article was developed using numerical parameters characterizing the studied phenomenon. Findings: It cannot be unequivocally confirmed that swaps, due to their universality and design, are the most frequently used instrument of the Polish currency market and the OTC interest rate derivatives market. This is because, although, on the currency market, the main share in transactions was achieved by currency swaps, in the case of the OTC interest rate market, interest rate swap (IRS) transactions no longer record the largest share. Contribution & Value Added: The issue of swap contracts, according to the authors of the thesis, is the subject of limited interest in the Polish research literature, and this article was to be a response to the need to systematize knowledge about these instruments and a synthetic presentation of their development.
Leadership and the role of women in the success of logistics companies
Objective: The objective of this article is discussing the role and importance of women’s leadership qualities in shaping the business success of firms in the logistics industry. Research Design & Methods: Research was divided into two steps. Data was collected from both primary and secondary sources. Authors used monographic methods, along with an evaluation of documents in terms of their publication usefulness. In the next step, data was collected from primary sources: women working in the logistics industry as managers or managing their own firms – the technique applied was based on individual in-depth interviews, as well as employees of logistics companies led by women – the technique applied was direct questionnaires. Findings: As the conducted research shows, the growing authority of women in the logistics industry results from their having the fundamental qualities and competences that should characterize an effective leader. In addition, some personality traits characteristic of women proves to be extremely useful in the multi-stimuli corporate environment. Therefore, women are perfectly capable of managing logistics. Contribution & Value Added: According to the authors’ recommendations, the study should be expanded to include a larger group of respondents. Moreover, there should be included companies from different parts of the world. In addition, the next step should consider the socio-cultural conditions of the firm’s country of origin.