European Journal of Business Science and Technology 2025, 11(1):23-38 | DOI: 10.11118/ejobsat.2024.014
Meteorological conditions exert a considerable influence on traffic patterns. This paper examines the influence of meteorological variables on the daily number of traffic accidents requiring fire brigade intervention. The influence of meteorological variables, including maximum temperature, wind speed, air pressure, precipitation, snow cover and sunshine, was examined. A Generalized Additive Model for variables with a Poisson distribution was employed for modelling purposes, as this allows for the representation of non-linear dependencies. The analysis demonstrates that the lowest incidence of accidents occurs at temperatures approximating 10 °C. The...
European Journal of Business Science and Technology 2025, 11(1):67-84 | DOI: 10.11118/ejobsat.2025.006
We study the trade-off between real earnings management activities (REM) and accrual-based earnings management (AEM) among newly listed Vietnamese firms from 2009 to 2019. First, we found that firms exhibit REM as well as AEM around listing events to beat earnings targets. We further explore whether managers use REM and AEM as substitutes, considering both internal factors- firms’ characteristics and external factors like audit quality and institutional environments. Our results indicate that companies employ a greater amount of AEM and less REM when they have a higher firm size, measured by total assets, experience higher levels of liquidity....
European Journal of Business Science and Technology 2025, 11(1):39-66 | DOI: 10.11118/ejobsat.2025.002
To test the diversification benefits of REIT sub-groups formed based on dividend payout ratios, we forecast ex-ante variance-covariance matrices using a rolling window correlation and a DCC model. Regression-based mean-variance spanning tests, mean-variance efficient frontiers, and a minimum variance portfolio allocation approach using ex-ante optimization frameworks are considered. A major finding of the current study is the dividend payout ratios of REITs affect REIT market diversification benefits. Apart from extending stock market index investors’ investment universe and providing more efficient (higher profitability and/or lower risk) portfolios,...
European Journal of Business Science and Technology 2025, 11(1):85-98 | DOI: 10.11118/ejobsat.2025.004
This study examines the links between conspicuous consumption and user activity on social media platforms, focusing on Generations Z, Y, and X. A set of statements focusing on conspicuous consumption, consumer behaviour on social media, and their food consumption habits was developed and tested on a sample of 679 respondents from the Czech Republic comprising these generations. Factor analysis was used to group tested statements into factors, and regression analysis was used to examine their association with salient consumption patterns. While the link between social media activity and conspicuous consumption was only confirmed for Generation X, the...
European Journal of Business Science and Technology 2025, 11(1):129-140 | DOI: 10.11118/ejobsat.2025.005
The use of Virtual Reality (VR) to visualize data is increasingly common in various fields, from medical science to education. However, visualization of geospatial data in VR is still not handled well. GIS data comes in various formats and converting them to 3D can be challenging. The choice of a format capable of streaming large amounts of spatial data in the VR scene is crucial. However, the challenge lies in ensuring the reusability of the presented scenes with different GIS data. Most applications (including the 3D scene models) are created for a single use case and do not allow for simple interchangeability of presented data. This article proposes...
European Journal of Business Science and Technology 2025, 11(1):99-128 | DOI: 10.11118/ejobsat.2025.003
Global mergers and faster business cycles create weakly harmonized supply chain (SC) systems. Industry 4.0’s smart digitalization opportunities significantly alter business model innovation rates. Consequently, the complexity of aligning value exploration and exploitation has increased, often missing the needed integration level. A holistic systems engineering (SE)-driven methodology for innovation, transformation, and optimizing smart SC systems is not available so far. Case studies at SAP SE's development organization for Industry 4.0 SCM solutions and three automotive companies explored objectives, obstacles, and methods for digital transformation....
European Journal of Business Science and Technology 2025, 11(1):5-22 | DOI: 10.11118/ejobsat.2025.001
In the German-speaking food market, a significant gap exists between consumer preference for sustainable options and purchasing behavior, primarily due to skepticism about the authenticity of sustainability claims. In a study involving 368 participants from Germany, Austria, and Switzerland, the influence of price on the perceived authenticity of sustainability labels was examined. Participants were surveyed on their explicit attitudes, while their implicit attitudes were assessed using the implicit association test (IAT). Results show that a higher price significantly improves the perception of a product's authenticity. Socioeconomic factors, such...
European Journal of Business Science and Technology 2024, 10(2):156-172 | DOI: 10.11118/ejobsat.2024.011
Traditionally, market comparison requires identifying a peer group, which still poses unresolved practical difficulties today. This research seeks to provide valuable insights into the practicality, efficiency, and accuracy of machine learning in valuing a company. It employs a state-of-the-art machine learning technique, Gradient Boosting Decision Trees (GBDT), to predict the valuation multiple directly. A yearly dataset of U.S. public companies from 1980–2021 was used. The most common multiples (EV/EBITDA, EV/EBIT, P/E, and EV/Sales) were tested. The performance of GBDT was assessed against an industry-based method. GBDT consistently outperformed...
European Journal of Business Science and Technology 2024, 10(2):205-224 | DOI: 10.11118/ejobsat.2024.008
This research delves into effective messaging strategies employed by companies to shape their reputation in anticipation of an initial public offering (IPO). Drawing insights from the analysis of 1162 media headlines encompassing 30 brands during their IPOs on NASDAQ or NYSE, the study offers valuable recommendations for entrepreneurs and startups engaging in rhetorical preparations for an IPO. By synthesizing the examination of successful companies' media framing with pertinent well-known communication frameworks (strategic communication and the PESO model), the article introduces the new 6I's model. This model serves as a comprehensive marketing...
European Journal of Business Science and Technology 2024, 10(2):129-155 | DOI: 10.11118/ejobsat.2024.013
This study aims to understand the factors influencing consumers' intention to adopt the metaverse as a marketplace for physical products and the role of trust specifically focusing on the generation aged 18–28. It also explores the moderating role of trust towards the company Meta in these relationships. An exploratory sequential mixed-method research design was employed to develop an encompassing conceptual model, enhance hypothesis formulation, and validate findings through triangulation. In the first phase of the study, in-depth interviews were conducted with professionals and students (n=11), and in the second phase, Likert-type questionnaire...
European Journal of Business Science and Technology 2024, 10(2):225-241 | DOI: 10.11118/ejobsat.2024.012
Smart IoT devices, such as lights, locks, washing machines, security cameras, etc., are becoming omnipresent in households and companies across all industries. However, most of these devices communicate over non-secure local protocols or via cloud services where security policies are not transparent. Vulnerabilities may lead to unauthorized access to such IoT devices. Blockchain is a technology that brings security by design and can be exploited also in the area of controlling access to IoT devices. The goal of the paper is to test the use of blockchain with IoT devices to increase the security of device usage while ensuring that the user experience...
European Journal of Business Science and Technology 2024, 10(2):242-257 | DOI: 10.11118/ejobsat.2024.007
This study explores the influence of the Covid-19 period on earnings management behaviour (EM) for 150 Algerian companies. The period of study (2018 to 2021) was divided into the pre-pandemic period (2018 and 2019) and the pandemic period (2020 and 2021). The study used two measures for earnings management: discretionary accruals (accounting EM) and abnormal cash flows (real EM). The results indicate that accounting EM decreased during Covid-19 compared to pre-Covid-19. But for real EM, it was the opposite; it has seen an increase during Covid-19. These results have many implications regarding the commitments of various contributors to preparing financial...
European Journal of Business Science and Technology 2024, 10(2):185-204 | DOI: 10.11118/ejobsat.2024.009
According to the service-dominant logic, the customer always contributes their resources to service delivery. This study adopts the service-dominant logic approach to social marketing in the context of preventative healthcare services for children immunization and investigates the influence of organizational (administrative quality, technical quality, and interpersonal quality) and customer operant resources (cultural resources, physical resources, and social resources) on word-of-mouth. Hierarchical multiple regression was used to test our hypotheses and the evidence indicated that all three quality dimensions of organizational operant resources significantly...
European Journal of Business Science and Technology 2024, 10(2):173-184 | DOI: 10.11118/ejobsat.2024.010
In this paper, we focus on the categorization of tickets in service desk systems. We employ modern neural network-based artificial intelligence methods to improve the performance of current systems and address typical problems in the domain. Special attention is paid to balancing the ticket categories, selecting a suitable representation of text data, and choosing a classification model. Based on experiments with two real-world datasets, we conclude that text preprocessing, balancing the ticket categories, and using the representations of texts based on fine-tuned transformers are crucial for building successful classifiers in this domain. Although...
European Journal of Business Science and Technology 2024, 10(1):5-24 | DOI: 10.11118/ejobsat.2024.003
This paper investigates the dependence of the investment behavior of Sovereign Wealth Funds (SWFs) on the Environmental, Social, and Governance (ESG) performance of their underlying investments in public equity holdings during the period of 2007 to 2022 collectively overseeing a substantial 71% of total public equity holding investments by SWFs globally. The unique data set with ESG control variables consist of mainly self-reported Corporate Social Responsibility (CSR) ESG information (ESG rating from Refinitiv/LSEG) and dynamic risk assessed ESG information purely based on external evaluation of the firms (Reputational Risk Indicator from RepRisk)....
European Journal of Business Science and Technology 2024, 10(1):107-122 | DOI: 10.11118/ejobsat.2023.016
This paper uses the Malmquist Productivity Index to evaluate the impact of the COVID-19 pandemic on hotel productivity. It decomposes total factor productivity change (TFPC) into technical efficiency, pure and scale efficiency, and technical change to conclude on productivity growth before and after the outbreak of the pandemic. 112 hotels in four cities of the United States between 2011–2021 were subject to the analysis, using a multi-input (room, labor, and F&B costs) multi-output (accommodation, F&B, and total revenue) DEA-Malmquist model. The pandemic did not have an adverse effect on hotel productivity change, mainly due to the developments attributed...
European Journal of Business Science and Technology 2024, 10(1):96-106 | DOI: 10.11118/ejobsat.2024.006
In a world of intense competition, automotive manufacturers are continually increasing their outsourcing activities and, as a result, automotive companies have built extensive cost engineering departments within their organisations. Staff in these units provide Should Cost Calculations for externally manufactured components, which are utilized as supplier targets to support buyers in fact-based negotiations. This paper aims to explore potential differences in the direct and indirect cost categories in the context of Should Cost Calculations. Based on a sample survey among cost engineers, it was possible to determine differences in cost knowledge, risk...
European Journal of Business Science and Technology 2024, 10(1):66-80 | DOI: 10.11118/ejobsat.2024.001
Despite substantial research on the antecedents of the relationship between brand experience and customer citizenship behavior, the effect of brand attachment remains a neglected subject in marketing research. Using social exchange theory (SET) and attachment theory, this study analyses the role of brand attachment as a mediator in the relationship between brand experience and customer citizenship behavior. Specifically, is to investigate the mediating role of brand attachment in the relationship between brand experience and customer citizenship behavior to clarify the role of the different dimensions of brand values among the customers of fast-food...
European Journal of Business Science and Technology 2024, 10(1):47-65 | DOI: 10.11118/ejobsat.2024.005
In recent decades, digitalization has become increasingly important in the construction industry. Building Information Modeling (BIM), a digital planning method, is becoming increasingly important in the infrastructure sector. Infrastructure planning implementation is complex, so engineering firms still use conventional planning. This study sheds light on the influence of Building Information Modelling (BIM) on increasing productivity in the construction industry. Through a combination of qualitative interviews and quantitative data analysis, an in-depth understanding of the implementation processes, challenges and benefits of BIM was developed. Particular...
European Journal of Business Science and Technology 2024, 10(1):25-46 | DOI: 10.11118/ejobsat.2024.002
The paper focuses on valuation multipliers for privately held companies, with the aim of developing and applying a methodological procedure to improve the accuracy of estimating the market value. This improvement is achieved through the differentiation of an industry multiplier using financial decomposition. We applied the proposed methodology enhancements to a dataset comprising 50 Czech breweries, estimating their market value using the discounted cash flow method. Importantly, our proposed modification to the methodology is not limited to this sample of breweries; its nature makes it a generally applicable procedure. Our results demonstrate that...
European Journal of Business Science and Technology 2024, 10(1):81-95 | DOI: 10.11118/ejobsat.2024.004
The article discusses the existing structure of agricultural production in Ukraine and defines the key role of farmers in providing the population with food products at the beginning of a full-scale war. The high adaptability of the small goods sector of the agrarian economy and insufficient attention to its development in the pre-war period have been proven. An assessment of the main challenges, general losses and measures taken regarding the development of agriculture in Ukraine during the war period is given, and the importance of international financial support is emphasized. The need for a balanced model of the corporate and small commodity sectors...
