Globalization and Bankruptcy of SMEs in Slovakia

Research background: Globalization - the process of increasing social, cultural, political, and economic interdependence - has resulted in several changes in business environment. Global market opportunities and threats are major effects of globalization; they refer to the increases in market potential, trade and investment potential and resource accessibility. Global market threats refer to the increases in the number and level of competition, and the level of uncertainty. Global competitors can have the impact on bankruptcy of local SMEs in less developed or smaller countries. Are globalization in economics and company bankruptcy related? In the past, the cause of bankruptcy was mainly in the company itself. The development of globalization has brought a number of positive as well as a number of negative consequences for several areas of society. Is one of the negative effects of globalization the bankruptcy of companies? Purpose of the article: The paper presents a classification of external and internal causes of bankruptcy and indicators of the threat of company bankruptcy. The paper also focuses on the results of the research analysis about the causes of small and medium-sized enterprises mortality in Slovakia and the impact of globalization factors as the causes of their bankruptcy. The analysis of bankruptcies is oriented on the research of the causes of small and medium-sized enterprises mortality in Slovakia and the influence of globalization factors as the causality of their bankruptcy. Methods: The research sample presents structured interview with 16 SMEs´ owners. They identified more aspects of globalization impact to Slovak SMEs bankruptcy. Findings & Value added: The results of research indicate that there is an evidence of impact of globalization on the bankruptcy of SMEs in Slovakia, but there are some differences among various industries.

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The impact of corporate social responsibility on business competitiveness

SHS Web of Conferences ◽

10.1051/shsconf/20219206017 ◽

2021 ◽

Vol 92 ◽

pp. 06017

Author(s):

Marcela Kožená ◽

Martin Mlázovský

Keyword(s):

Corporate Social Responsibility ◽

Czech Republic ◽

Social Responsibility ◽

Open Economy ◽

Value Added ◽

Business Environment ◽

Global Market ◽

The Czech Republic ◽

Corporate Social ◽

The Impact

Research background: The social and environmental problems of the current globalised world are primarily targeted on the South and Southeast Asian business environment. However, according to the idea “think global, act local”, practices of Czech local business also contribute to the global environment. Purpose of the article: The Czech Republic is classified as a small open economy in the final stage of a transformation into a market economy, and on the top of that, it is also a member of the European Union. Thus, the Czech Republic is very dependent on the global market. Firstly, this paper is focused on analysing the Czech businesses’ attitude to competitiveness with special emphasis on corporate social responsibility. Secondly, there is predicated the future approach of the Czech managers to CSR. Methods: Primary research is based on individual structured interviews with Czech managers on the top and middle level (n=15). The interviews were conducted from February to May 2020 via a combination of face to face and distance communication. Findings & Value added: The results indicate that the Czech business mostly does not perceive CSR as a key factor of corporate competitiveness. However, the significant part of the interviewees considers CSR as moderately important and what is more, they predicate the upward trend of this factor. In addition, corporate social responsibility is often associated with other factors of competitiveness – more precisely to customer loyalty and innovation capability. Moreover, all the corporations stated that they apply at least some of the CSR principles in their ordinary course of business.

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Globalization Impact on Multinational Enterprises

World ◽

10.3390/world2020014 ◽

2021 ◽

Vol 2 (2) ◽

pp. 216-230

Author(s):

Justine Kyove ◽

Katerina Streltsova ◽

Ufuoma Odibo ◽

Giuseppe T. Cirella

Keyword(s):

Developing Country ◽

Multinational Enterprises ◽

Developed Countries ◽

Global Market ◽

Data Availability ◽

Negative Effects ◽

Developed Country ◽

Excellent Starting Point ◽

Starting Point ◽

The Impact

The impact of globalization on multinational enterprises was examined from the years 1980 to 2020. A scoping literature review was conducted for a total of 141 articles. Qualitative, quantitative, and mixed typologies were categorized and conclusions were drawn regarding the influence and performance (i.e., positive or negative effects) of globalization. Developed countries show more saturated markets than developing countries that favor developing country multinational enterprises to rely heavily on foreign sales for revenue growth. Developed country multinationals are likely to use more advanced factors of production to create revenue, whereas developing country multinationals are more likely to use less advanced forms. A number of common trends and issues showed corporate social responsibility, emerging markets, political issues, and economic matters as key to global market production. Recommendations signal a strong need for more research that addresses contributive effects in the different economies, starting with the emerging to the developed. Limitations of data availability and inconsistency posed a challenge for this review, yet the use of operationalization, techniques, and analyses from the business literature enabled this study to be an excellent starting point for additional work in the field.

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Impact of the Global Financial Crisis on IT Sector. The Case of Greece

International Journal of Corporate Finance and Accounting ◽

10.4018/ijcfa.287909 ◽

2022 ◽

Vol 9 (1) ◽

pp. 0-0

Keyword(s):

Global Financial Crisis ◽

Extended Period ◽

Early Years ◽

Negative Consequences ◽

Negative Effects ◽

Innovation Development ◽

Negative Effect ◽

Greek Economy ◽

The Global Financial Crisis ◽

The Impact

The impact of the Information and Technology (IT) sector on the countries’ innovation development has been recognized as crucial in prior and recent research studies. Moreover, firms’ innovativeness affects positively countries’ economies. Nevertheless, the global economic crisis of the last decade constituted a significant barrier to the development of country economies and had a negative effect on firms’ performance. Specifically, the negative consequences of the global crisis became harder for Southern Europe Countries. More specifically the Greek economy was suffered by an extended period of crisis with harder consequences than those of other European countries. The main purpose of this study was to examine the financial performance of Greek IT firms in the early years of crisis. Our findings have been relevant to those of previous studies which observed negative effects of the financial recession on firms profitability.

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Measuring Outcomes in Alzheimer's Disease

International Psychogeriatrics ◽

10.1017/s1041610296003018 ◽

1996 ◽

Vol 8 (S1) ◽

pp. 13-16 ◽

Cited By ~ 3

Author(s):

Rhonda J. V. Montgomery

Keyword(s):

Alzheimer’S Disease ◽

Alzheimer's Disease ◽

Behavioral Problems ◽

Negative Consequences ◽

Negative Effects ◽

Target Individual ◽

Measuring Outcomes ◽

Study Designs ◽

The Impact ◽

Initial Target

The premise underlying the implementation of any intervention aimed at changing behavioral or other symptoms of Alzheimer's disease (AD) is that the change will be beneficial in some manner for the patient and the benefits will outweigh any negative consequences that may simultaneously result from the intervention. Consequently, the ultimate task of investigators studying the impact of proposed interventions is to identify and measure the benefit that stems from the intervention, as well as any negative effects. When interventions are intended to create organic changes, as is traditionally true with pharmacologic interventions, the identification of relevant outcomes is made relatively simple through indicators of organic functioning. However, when intended changes are behavioral, the identification of appropriate outcomes is far more complex. An individual's behavior ultimately has an impact on all the actors within his or her social setting, directly or indirectly. Furthermore, changes in an individual's behavior may have an impact on other persons in such a way that these secondary changes feed back to further influence the initial target individual. Hence, it is likely that the most appropriate study designs for assessing the impact of interventions aimed at behavioral problems will include multiple outcome measures for multiple actors.

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THE IMPACT OF THE COVID-19 PANDEMIC ON INDUSTRY 4.0 IN THE CONTEXT OF GLOBAL ECONOMIC DEVELOPMENT

InterConf ◽

10.51582/interconf.21-22.05.2021.007 ◽

2021 ◽

pp. 54-59

Author(s):

Bohdana Hunko

Keyword(s):

Economic Development ◽

Industry 4.0 ◽

Global Economy ◽

Industrial Revolution ◽

Negative Consequences ◽

Negative Effects ◽

Technology Industry ◽

World Economic ◽

The Impact

The paper analyzes the role of Industry 4.0 in the process of overcoming the global economy from the crisis situation associated with the total Covid-19 pandemic. The aspect of economic profitability of using the technologies of the fourth industrial revolution to improve world economic development in the context of the Covid-19 pandemic was also identified. The author identified the positive and negative consequences of the involvement of technology Industry 4.0, on the basis of which a number of recommendations for small and medium-sized businesses were formed in order to quickly overcome the negative effects of the crisis. Based on the work, the author formulated a number of trends and prospects for global economic development, taking into account the current conditions of the Covid-19 pandemic.

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Dimension and Crushed Stones Extraction as a Source of Social and Environmental Conflicts in Poland

Minerals ◽

10.3390/min8100453 ◽

2018 ◽

Vol 8 (10) ◽

pp. 453 ◽

Cited By ~ 1

Author(s):

Justyna Górniak-Zimroz ◽

Katarzyna Pactwa

Keyword(s):

Land Surface ◽

Mining Area ◽

Mining Activity ◽

Negative Consequences ◽

Negative Effects ◽

Environmental Conflicts ◽

Open Cast Mining ◽

Multi Criteria Evaluation ◽

The People ◽

The Impact

Crushed and dimension stones, which include 33 lithological varieties among igneous rocks, metamorphic rocks and sedimentary rocks, are mainly located in the southern and south-western part of Poland. Demand for this group of minerals is continuously high, which results from conducted and planned infrastructural investments. Mining activity is associated with interference in the natural environment. Negative consequences of exploitation include, among others: Land surface deformations, and the pollution of the soil, air, and water. In many cases, the extraction of minerals also leads to the liquidation of housing and transportation infrastructure located in the mining area, as well as to reducing the value of real estate in the immediate vicinity of the deposit or to increase in the level of stress among local residents, who are exposed to noise, which causes growing social conflicts in areas designated for exploitation. Thus, the awareness of negative effects of undertaking open-cast mining leads to the conflicts between various groups of stakeholders (residents, environmental organizations, mining entrepreneurs). Through the use of multi-criteria evaluation, this article identifies the places of potential social and environmental conflicts resulting from the planned mining activity in three areas of the densest occurrence of the analysed deposits (Lower Silesia Province, Lesser Poland Province and Świętokrzyskie Province). The assessment of lands over the deposits recognized initially and in detail was proposed, determining the degree of their accessibility. Due to the proposed method, it’s possible to obtain results of the classification of each fragment of the analysed deposit, as well as the surroundings of such deposit at any distance from it, within the boundaries of analysed area. Information may be made available to users of the deposits, mining enterprises interested in exploitation of the deposits or administration responsible for issuing decisions regarding concessions for exploitations of the deposits, so that they have knowledge about conflict areas in the region, resulting from the impact of planned mining activity on life and health of the people and on the environment.

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Emerging Preservation Techniques for Controlling Spoilage and Pathogenic Microorganisms in Fruit Juices

International Journal of Microbiology ◽

10.1155/2014/758942 ◽

2014 ◽

Vol 2014 ◽

pp. 1-14 ◽

Cited By ~ 55

Author(s):

Kamal Rai Aneja ◽

Romika Dhiman ◽

Neeraj Kumar Aggarwal ◽

Ashish Aneja

Keyword(s):

Value Added ◽

Pilot Scale ◽

Global Market ◽

Fruit Juices ◽

Negative Effects ◽

Food Borne ◽

Microbial Infections ◽

Acid Tolerant ◽

Prevention Methods ◽

Thermal Pasteurization

Fruit juices are important commodities in the global market providing vast possibilities for new value added products to meet consumer demand for convenience, nutrition, and health. Fruit juices are spoiled primarily due to proliferation of acid tolerant and osmophilic microflora. There is also risk of food borne microbial infections which is associated with the consumption of fruit juices. In order to reduce the incidence of outbreaks, fruit juices are preserved by various techniques. Thermal pasteurization is used commercially by fruit juice industries for the preservation of fruit juices but results in losses of essential nutrients and changes in physicochemical and organoleptic properties. Nonthermal pasteurization methods such as high hydrostatic pressure, pulsed electric field, and ultrasound and irradiations have also been employed in fruit juices to overcome the negative effects of thermal pasteurization. Some of these techniques have already been commercialized. Some are still in research or pilot scale. Apart from these emerging techniques, preservatives from natural sources have also shown considerable promise for use in some food products. In this review article, spoilage, pathogenic microflora, and food borne outbreaks associated with fruit juices of last two decades are given in one section. In other sections various prevention methods to control the growth of spoilage and pathogenic microflora to increase the shelf life of fruit juices are discussed.

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C EFFICIENCY RATIO AS A MEASURE OF VAT EFFICIENCY IN EU DEVELOPING COUNTRIES AND SERBIA

НОВИ ЕКОНОМИСТ ◽

10.7251/noe1926016d ◽

2021 ◽

Vol 13 (26) ◽

Author(s):

Marina Đorđević ◽

Jadranka Đurović-Todorović ◽

Milica Ristić

Keyword(s):

Developing Countries ◽

Collection Efficiency ◽

Value Added ◽

Economic Transformation ◽

The European Union ◽

Efficiency Ratio ◽

Negative Effects ◽

Standard Rate ◽

The Impact ◽

Public Revenues

The policy led by a large number of developing countries, with the aim of increasing indirect taxes, has opened the issue of Value Added Tax (VAT) efficiency. Reforms of tax systems of developing countries generally involve an increase in standard rates in order to increase VAT, which is the main source of public revenues. In such a way, developing countries determine the VAT efficiency and the amount of revenue that could be collected by indirect taxation. The article sums up works of different scientists, dealing with the impact of determinants on VAT efficiency. The subject of this paper is an analysis of the factors that influence the C efficiency ratio. The main objective of the paper is to analize the impact of the change in the standard rate on the ratio. Theoretical analyses of standard rates and other factors that have reflections on the VAT collection efficiency explicitly prove that there are different ways to improve the efficiency of VAT collection, and exclude an increase in the standard rate. An increase in the standard rate provides a balance of negative effects, which can be blurred by recorded tax revenues. We focused on the countries of the European Union: Bulgaria, Czech Republic, Estonia, Greece, Croatia, Latvia, Hungary, Poland, Romania, Slovakia, Slovenia, Lithuania during the 2000-2016 period. These countries experienced significant changes in government during economic transformation, and where VAT is the main source of public revenues. The last section analize an increse in VAT rate and C efficiency ratio in Serbia and conteins conclusions. The paper indicates the imperfection of inadequately defined VAT rates on economic growth and development in analized countries. Based on analyses we can conclude that the increase in the standard rate have negative reflections on the VAT efficiency, and that it was one of the factors of the continuous decline in C-efficiency.

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Value-added analysis of the electric vehicle battery industry in Indonesia

IOP Conference Series Earth and Environmental Science ◽

10.1088/1755-1315/882/1/012079 ◽

2021 ◽

Vol 882 (1) ◽

pp. 012079

Author(s):

I Suherman ◽

S Rochani ◽

D Cahyaningtyas

Keyword(s):

Electric Vehicle ◽

Value Added ◽

Global Market ◽

Battery Cell ◽

A Value ◽

Acid Leach ◽

Global Player ◽

Electric Vehicle Battery ◽

The Impact ◽

Battery Industry

Abstract The establishment of the Indonesian Battery Corporation is a step forward to make Indonesia a global player in the electric vehicle battery industry. This state-owned consortium is mandated to develop an integrated electric vehicle battery industry ecosystem from upstream to downstream. Indonesia has around six companies developing High-Pressure Acid Leach processing and refining projects. Battery production for Indonesian electric vehicles is estimated to contribute approximately 12.7% to the global market by 2035. A value-added analysis approach model is estimated to increase Gross Domestic Product by $21,434 billion. In addition, the impact on job creation is around 42,603 people. This estimation can be implemented with some supports, such as partners with proven technology and significant capital to build the precursor and cathode industries, battery cell and battery industries, and the electric vehicle industry and policies related to development.

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Impact of Global Changes of the Pandemic Crisis on Business Models of Transport Companies

SHS Web of Conferences ◽

10.1051/shsconf/20219201058 ◽

2021 ◽

Vol 92 ◽

pp. 01058

Author(s):

Natalia Zhuravleva ◽

Liana Chechenova

Keyword(s):

Business Model ◽

Coming Out ◽

Business Models ◽

Value Added ◽

Global Market ◽

Commodity Markets ◽

Transport Sector ◽

Global Changes ◽

Transport Services ◽

The Impact

Research background: The coming period of the world economy coming out of the pandemic crisis will seriously change the situation in the cargo and passenger segment. According to the assessment of the current situation, in the global market there is a violation of the usual ties between producers and consumers, an imbalance in transport flows associated with changes in demand. At the same time, in a crisis, rail transport is the main tool, since a significant amount of anti-epidemic protective equipment from China was transported by trains. It is clear that in the near future the dynamics of the market depends, first of all, on the further development of events and measures of state support for industries and businesses. Purpose of the article: The purpose of this research is to score the factors of the post-crisis state of transport sector: alterations in the gravity of commodity markets, modifications of valuable preferences assessment of the shipper and the passenger, that change the business model of transport companies. Methods: Standard methods of scientific research are used: theoretical and experimental; complex methods of analysis and evaluation of business models: a complex scheme for developing a business model, a canvas and a conceptual scheme of a business model; methods of qualitative data analysis. Findings & Value added: Factors changing the transport business model are systematized. The research estimates a change probability in the gravity of commodity markets towards Asian countries, the consequences of the influence of digital technology on the efficiency of the transport business and the shift in the value of transport services in the line of high speeds. It shows the impact of the post-pandemic economy, which has formed new habits, passenger behavior on passenger companies’ operations. The research justified crisis effects resulting in the deterioration of the competition in the transport markets.

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