Effects of the COVID-19 pandemic on disclosures in passenger airlines’ financial statements

This article analyses the impact of COVID-19 on the disclosures of 24 financial statements of passenger airline companies in Europe (including United Kingdom), North America, China (including Hong Kong), Middle East and South America for financial year 2020. This impact is significant in our research sample as evidenced by a total revenue decrease of 60% compared to previous year. We have examined for specific areas whether the airline companies contribute to transparent reporting and useful information to existing and potential investors, regulators, supportive government bodies and other stakeholders following the COVID-19 pandemic. The areas of our research focus on going concern, rent concessions, significant judgements and estimates, impairments, governmental support and the auditor’s report. Our study shows diversity in the extent of transparency in both financial statements and auditor’s opinions. Good financial practices are included and discussed in this study to further stimulate transparency in corporate reporting.

CEO cognitive trust, governmental support and marketing innovation: empirical evidence from Chinese small, medium and micro enterprises

Purpose This study aims to verify the influence of chief executive officer (CEO) cognitive trust and governmental support on marketing innovation. Additionally, it evaluated the influence of CEO cognitive trust on the marketing innovation of small, medium and micro enterprises (SMMEs). Design/methodology/approach The authors empirically assessed the impact of CEO cognitive trust on SMME marketing innovation. Furthermore, the authors examined the mediating effect of governmental support on this relationship. The authors then studied a sample of 1,770 SMMEs in China by applying partial least squares structural equation modeling. Findings The authors found that CEO cognitive trust was negatively associated with marketing innovation. Moreover, governmental support has a competitive mediating effect on this relationship. Thus, while governmental support is urgently needed to enhance the marketing innovation of SMMEs, CEO cognitive trust negatively impacts this relationship. Research limitations/implications This study empirically establishes the importance of CEO cognitive trust and governmental support as antecedents in SMME marketing innovation. This contributes to the knowledge base of the management field, adding to important streams in the wider business literature, such as marketing studies, leadership management, strategic management and innovation. While the model is parsimonious, the relationships it highlights are robust and can be generalized to other contexts. Practical implications Managers must not only have high levels of trust and authority but must also embody these characteristics rationally. Simultaneously, managers must actively establish a trusting relationship with the government, thereby improving their company’s ability to integrate government policy information while also actively seeking governmental support. These measures are helpful in enhancing the marketing innovation capabilities of SMMEs. Social implications SMMEs occupy an important position in all countries’ economies and their vitality directly determines the strength of the economy. Formulating reasonable marketing strategies will help enhance market competitiveness and promote the rapid development of SMMEs. Originality/value The literature on marketing innovation has paid little attention to CEO cognitive trust, while CEOs’ cognitive characteristics are an increasingly relevant antecedent in SMME marketing innovation. This study analyzed CEO cognitive trust as a possible antecedent of marketing innovation activities in SMMEs, with this influence path being evaluated. This study extends the current knowledge in this field by considering the effects of CEO cognitive trust on marketing innovation.

ГЕНЕЗИС ЦІЛЕЙ І ЗАВДАНЬ ВИБУХОВОГО ШТАМПУВАННЯ (ДО 70-РІЧЧЯ ОДНІЄЇ З НАУКОВИХ ШКІЛ ХАІ)

The paper is devoted to development of one of the scientific schools Kharkiv Aviation Institute (Now National Aerospace University named after M. E. Zhukovsky “KhAI”). This school was born after World War II quite hard after period of National economy restoration and now it continues to develop during last 70 years. The article deals with the origins and genesis of objectives and tasks formulated for think tank and followers during dozens of years. Influence of the world geopolitics on development of mentioned scientific school and reached results is shown. From relatively primitive goals and tasks formulated by R. V. Pikhtovnikov in 1949 up to complicated problems of controlling of impulse energy flows to get high-precision large-dimensional sheet articles. From development of simple manufacturing process conducted in field conditions up to creation of up-to-date manufacturing complexes with correspondent buildings, equipment and technological jigs.Paper draws attention that successful development of scientific school and international expansion of labor market were stipulated by governmental support, both financial and organization ones. Paper shows results of technological systems development. Defefinite analogy with development of biological systems can be observed, i.e. evolution from the simplest to more complicated under influence of external factors.One has to note that paper deals with development of only one direction of scientific school, i.e. sheet articles forming. Research and development of such two other directions as impulse forming by impact of solid and impulse volumetric forming are waiting for their researchers. Authors of the paper tried to escape of conventional approaches of scientific schools description and concentrated on studying of objectives and tasks occurred in frames of considered scientific school. Therefore, the paper doesn’t mention many names of scientific advisors of different directions, titles of exact studies and topics, which involve crucial contribution in achievements of mentioned scientific school.

Fermatean Fuzzy CRITIC-COPRAS Method for Evaluating the Challenges to Industry 4.0 Adoption for a Sustainable Digital Transformation

Decision and policymakers are looking at the potential of Industry 4.0 smart technologies to create a green economy as the European Commission aims to deliver the European Green Deal by rethinking policies for clean energy supply. Industry 4.0 will eventually be applied to all aspects of life; however, it is necessary to identify the challenges to the adoption of Industry 4.0 for a sustainable digital transformation. In this vein, the present study aims to identify the challenges to the adoption of Industry 4.0 in fintech companies and to develop a novel Fermatean fuzzy CRITIC-COPRAS method to rank the identified challenges and evaluate the performance of companies concerning the weighted challenges based on three decision experts’ support. The results indicated that “difficulty in coordination and collaboration” is the most significant challenge to the adoption of Industry 4.0 out of the fourteen identified challenges, followed by “resistance to change” and “governmental support.” In addition, the superiority and efficiency of the proposed method were investigated through comparative analyses.

Analyzing the Foreign System of Employment of People with Health Impairments

В статье проанализированы современные тенденции в сфере привлечения лиц с ограничениями по здоровью на рынок труда в странах Западной Европы; отражены основные принципы, подходы, направления и меры их государственной поддержки в Германии, Бельгии, Франции и Швейцарии; условия предоставления льгот и субсидий для этой группы работников и варианты стимулирования их работодателей. Описаны распространенные модели открытого и поддерживающего устройства на работу лиц с ограничениями по здоровью в специализированные предприятия и компании. Представлены данные об эффективности реализации этих моделей с учетом национальной специфики и примеры их внедрения. Отмечены гибкость и практическая целесообразность мер государственной поддержки лиц, имеющих ограничения по здоровью, с учетом их особых потребностей и тяжести инвалидности. Обращено внимание на роль общественных организаций и национальных агентств в реализации программ трудоустройства инвалидов и лиц с ограничениями по здоровью. The article analyzes modern tendencies associated with employment opportunities for people with disabilities in Western Europe. The article discusses major principles, approaches, trends and measures of governmental support available to people with health impairments in Germany, Belgium, France, and Switzerland. It treats social security measures for employees with disabilities and bonuses and incentives for their employers. The article describes the models of open and supported employment for people with disabilities. The article present data related to the efficiency of implementing these models with due consideration of national peculiarities and with examples of their implementation. The article describes flexibility and applicability of government support measures aimed at people with health impairments depending on their special needs and the severity of their disability. The article highlights the role of public organizations and national agencies in the employment of people with disabilities and health impairments.