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http://www.cjournal.cz Journal of Competitiveness Economy http://backend.userland.com/rss Mon, 22 Jun 2026 16:40:04 GMT http://www.cjournal.cz/imgs/cjournal_logo.png http://www.cjournal.cz
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In today’s rapidly evolving digital economy, small and medium-sized enterprises (SMEs) face increasing challenges in aligning financial transparency with sustainability goals, particularly under resource constraints. While prior studies have examined financial reporting quality or digital transformation separately, the combined effect of financial reporting relevance (FRR) and digital transformation (DT) on sustainable development performance (SDP) remains underexplored, especially in emerging markets. This study extends the Resource-Based View (RBV) by conceptualizing FRR as a strategic resource and enriches the Technology–Organization–Environment (TOE) framework by demonstrating how information quality interacts with technological and institutional conditions. Using survey data from 400 Chinese SME managers and a structural equation model with bootstrapped mediation tests, we find that FRR significantly improves SDP both directly and indirectly through DT, confirming DT’s role as a partial mediator that translates decision-useful information into sustainability practices. Empirically, the Chinese context provides a counterpoint to EU/OECD settings with mature disclosure regimes, highlighting how policy incentives and uneven digital readiness shape transformation pathways. Practically, SMEs can enhance sustainability by integrating FRR with ERP, AI, and analytics tools, while policymakers should combine financial reporting reforms with digital capacity-building programs. Overall, this study clarifies how and under which institutional conditions FRR and DT jointly drive sustainability, advancing theory and offering actionable insights for SME competitiveness in the digital era. http://www.cjournal.cz/index.php?hid=clanek&cid=
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This paper examines potential factors that affect CO2 emissions in 40 Asian countries between 1993 and 2022. Using various models with Driscoll-Kraay standard errors, cross-sectional time-series feasible generalized least squares (FGLS) regression, high-dimensional fixed effects (HDFE) linear regression, simultaneous quantile regression, and elastic net regression, the main results show that energy consumption significantly contributes to CO2 emission in the context of the Impact = Population·Affluence·Technology (IPAT) hypothesis. Ethnic polarization significantly increases CO2 emission levels, especially in regions with poor governance. At medium and high levels of emissions, foreign direct investment (FDI) helps in decreasing emissions, supporting the pollution halo hypothesis. Institutional quality, which stems from regulatory assurance and adherence to rules, performs an insurance function, reducing levels of environmental pollution in countries with moderate to high emission levels. Asian economies, therefore, should seek sustainable environmental development through renewable energy, improved governance, and eradication of ethnic polarization. Our findings are invaluable for policy making, offering means to navigate the growth-environmental dilemma and indicating the directions that should be taken to achieve sustainable growth. http://www.cjournal.cz/index.php?hid=clanek&cid=
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Climate change is one of the greatest challenges facing society and the tourism sector. Therefore, understanding sustainable tourism behaviour has become increasingly important for the competitiveness, management, and governance of destinations. Central to these strategies is the emergence of tourists’ conscious travel habits and pro-environmental behaviour. Data was collected from 432 tourists in Gipuzkoa (Spain) through an on-site intercept survey involving a structured questionnaire. The data was analysed using Structural Equation Model (SEM). This study has partially confirmed the proposed hypotheses. Thus, the positive and significant relationship between everyday behaviour and travel behaviour (both before and during a trip) has been confirmed, aligning with previous studies. However, the hypothesis results regarding the values construct are less consistent. The contribution and significance of the study lie in its holistic view of tourists’ sustainable behaviour through the application of different theories. For effective tourism management, understanding the factors that influence tourists’ pro-sustainable behaviour has important practical and societal implications. The profiling of tourists will allow tourist destinations to tailor their services, marketing strategies and infrastructures to meet the specific needs and preferences of the different tourist segments. http://www.cjournal.cz/index.php?hid=clanek&cid=
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This study investigates two established sustainability metrics—the Sustainable Development Goal Index (SDGI) and the Global Sustainable Competitiveness Index (GSCI)—to explore dependencies between their associated drivers using Bayesian Belief Networks (BBNs). The analysis considers sustainability performance data for 163 countries in 2023, using data from SolAbility’s Sustainable Competitiveness Report and the Sustainable Development Report. The predictive accuracy of the models used in this study is 85.1% for the SDGI and 70.6% for the GSCI for the two extreme states. Key findings underscore the strong interdependence between social and economic SDG dimensions and GSCI, whereas the environmental dimension appears relatively isolated in its contribution toward overall competitiveness. The study identifies key sustainable competitiveness pillars such as governance, social capital, and intellectual capital, highlighting their significant impact on SDGI outcomes. The results reveal that high competitiveness does not uniformly translate to high performance across all sustainability dimensions—with notable disparities in terms of environmental performance. Similarly, strong SDGI performance does not guarantee excellence in sustainable competitiveness. Scenario analysis reveals that high performance in ‘governance’, ‘social capital’, and ‘intellectual capital’ yields a 100% probability of achieving high SDGI performance. Moreover, high performance across the economic, social and environmental SDG dimensions ensures a 52% probability of achieving high sustainable competitiveness. BBNs reveal complex interrelationships among SDG dimensions and the various pillars of sustainable competitiveness, offering a more integrated and holistic approach compared to traditional methods. The proposed approach allows for the identification of critical drivers and offers a framework for scenario analysis, which can inform targeted policymaking and business strategies aimed at enhancing sustainability performance. http://www.cjournal.cz/index.php?hid=clanek&cid=
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We develop the Corporate Circular Economy Index (CCEI) to provide empirical evidence on the relationship between corporate Circular Economy practices and carbon emissions. Using a decade-long dataset of STOXX Europe 600 firms, the index integrates multiple dimensions, including policy disclosures, monitoring mechanisms, initiatives, and resource efficiency. Applying a Generalized Method of Moments estimation, our analysis reveals a notable causal relationship: an increase in the index from the 25th to the 75th percentile is associated with an 18% reduction in carbon dioxide emissions. Through Partial Least Squares Path Modelling, we identify key corporate policies driving emission reductions, including social sustainability measures, biodiversity protection, green investments, target setting, and clear governance structures via Corporate Social Responsibility Committees and Environmental Management Teams. Our findings remain robust across alternative carbon emission standardizations, econometric methods, and controls for endogeneity. These results highlight the importance of specific Circular Economy dimensions in improving corporate sustainability outcomes. In addition, the proposed Circular Economy Index, along with its components and sub-indices, is accessible and applicable for practitioners across different corporate contexts. http://www.cjournal.cz/index.php?hid=clanek&cid=
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The increased global concerns over social and environmental protection, climate change, and sustainable development have gained attention in recent literature. Sustainable finance plays a significant role in integrating financial capital to address these challenges. The current study explores the trends and extent of research in sustainable finance. The quantitative (bibliometric) and qualitative (content) analyses are conducted, utilizing scientometric and strategic mapping techniques to identify themes and key research areas. The dataset is extracted from the Scopus database from 2001 to 2023. After rigorous exclusion and inclusion criteria, 2022 articles were used for bibliometric analysis, and 15 articles were used for content analysis. The findings highlight the surge in publications, such as 691 articles published in 2023, mainly due to the Paris Agreement, 2015, and after the COVID-19 pandemic. The results also highlight the frequency of keywords used by authors, so green finance has been used largely, with a denomination of 556 occurrences with 197 nodes and a total link strength of 947, representing the main research themes from the sustainable finance literature, followed by sustainable finance, with a denomination of 319 occurrences with a total link strength of 585, and climate finance, with 257 occurrences. Furthermore, researchers can use the future directions provided in the findings of this study. In addition, it provides practical implications for environmental regulators and academicians. The study highlights the potential of sustainable finance to make a more significant impact by offering environmentally protective financial instruments. http://www.cjournal.cz/index.php?hid=clanek&cid=
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This research investigates the relationship between environmental, social, and governance (ESG) practices and accrual earnings management (AEM), with a focus on the moderating influence of the pandemic crisis, from a corporate competitiveness perspective. Aiming to address gaps in the existing literature, this study emphasizes the specifics of European setting, shaped by continuously evolving sustainability requirements. The analysis covers both pre-pandemic and pandemic periods, excluding the influence of the ongoing geopolitical conflicts. Two models for estimating discretionary accruals are applied to differentiate between companies oriented toward performance or growth. The study employs multiple econometric models tested on a sample of non-financial European companies over the 2015-2021 period. Fixed-effects panel regression is used, complemented by endogeneity tests to ensure the robustness of the results. Mixed impacts are revealed in terms of intensity and magnitude of ESG practices (overall and disaggregated) on absolute, income-increasing, and income-decreasing discretionary accruals. Findings indicate that ESG practices, particularly the three individual pillars, have a stronger influence on AEM during the pandemic period. Additional analysis on the institutional context showcases significant differences in both ESG practices and AEM, highlighting the importance of country-level institutional heterogeneity (common versus civil law systems) as a determinant factor to be considered in shaping corporate strategies aimed at competitiveness. The study emphasizes the contingent nature of ESG-AEM relationship, showing a positive association for performance-oriented companies and a negative one for growth-oriented companies. Moreover, ethical or opportunistic management behavior aimed at enhancing competitiveness, may be driven by varying sustainability-related incentives. The results offer practical implications for managers of European companies by illustrating diverse corporate behavior in relation to AEM, with details on the distinct effects of individual ESG pillars delineated before and during the pandemics. Furthermore, this research holds relevance for policymakers by contributing to the discourse on evolving European sustainability disclosure requirements. This responds to the objectives of both stakeholders and corporate leadership. Particular impact is emphasized by showcasing the exposure to vulnerabilities that companies face during challenging periods, such as the pandemic crisis. http://www.cjournal.cz/index.php?hid=clanek&cid=
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In today’s rapidly evolving digital landscape, achieving digital product success is vital for maintaining business competitiveness. This study delves into the complexities of digital product success by focusing on the integration of customer-centric innovation and sustainable project strategies alongside external knowledge, AI technologies, and digital resilience. Despite robust theoretical underpinnings, challenges such as inadequate requirements, insufficient user knowledge, and ineffective project management continue to hinder product success. Through a survey of 239 professionals in product-related roles and Structural Equation Modeling (SEM), the research examines how key factors—including the Collaborative Knowledge Ecosystem, AI-Enhanced Management, Digital Resilience, Customer-Centric Innovation Strategy, and Sustainable Project Strategy—impact Product Success. The results reveal that these factors significantly contribute to success, with the Customer-Centric Innovation Strategy and Sustainable Project Strategy playing important roles in shaping outcomes. The study underscores the importance of aligning product development with customer needs while ensuring sustainability as a core component of strategic success. Environments that foster continuous knowledge sharing, advanced technology use, resilient infrastructures, and sustainable practices are pivotal to achieving long-term competitiveness in the digital marketplace. This paper offers actionable insights for organizations seeking to enhance their digital product strategies through customer-centric approaches and sustainable development practices.