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http://www.cjournal.cz Journal of Competitiveness Economy http://backend.userland.com/rss Wed, 13 May 2026 08:52:05 GMT http://www.cjournal.cz/imgs/cjournal_logo.png http://www.cjournal.cz
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This paper examines the relationship between information search and product experience ratings in a case study of the Vietcombank mobile banking app. The Python programming language was used to scrape the Vietcombank mobile banking app ratings from Google Play, and the search volume for the terms “Vietcombank” and “VCB” was extracted from Google Trends. Data analysis was conducted using the VAR-Granger, ordinary least squares, and copula approaches, based on data collected from December 2012 to April 2023. The estimation results provide empirical evidence supporting the relationship between information search and product experience ratings. Specifically, the findings indicate the following: (1) a unidirectional causality relationship from the quantity of searches for “Vietcombank” to the app ratings; (2) a bidirectional causality relationship between searches for the term “VCB” and app ratings; 3) a positive influence of search volume on app ratings; (4) an upper tail dependency between the search volume of the term “Vietcombank” and the app ratings; and (5) no tail structural dependence structure between the search volume of the term “VCB” and the app ratings. http://www.cjournal.cz/index.php?hid=clanek&cid=
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A necessary condition for the competitiveness of food processing enterprises and food supply chains is stability and resilience, which is conditioned by a flexible response to potential risks. This paper analyzes factors of competitive food production, factors of stability of food production, existing risks, and responses of companies to the past crisis related to the Russian-Ukrainian conflict. All these factors were evaluated in terms of the size of the enterprise. The survey took place between October and November 2023. 368 companies throughout the Czech Republic were sent the survey, and the return rate was 18.75%. The sample of respondents was 69 enterprises (N=69). The obtained data was evaluated using basic descriptive statistics. Nonparametric statistical analysis (Fisher’s exact test) and Spearman’s correlation coefficient were used. The survey results show that production costs are considered a critical factor in competitiveness, regardless of the company’s size. The pillars of the stability of the entire food chain are food safety and process safety. In the period of the Russian-Ukrainian conflict, food companies were mostly faced with the risks of competition and changes in the market. The most common measures for the experienced crisis are process innovation, stock purchase, and fixing of supply prices in contracts. http://www.cjournal.cz/index.php?hid=clanek&cid=
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This paper introduces a hybrid decision-making model that integrates the fuzzy best-worst method with fuzzy VIKOR to determine the relative importance and prioritization of key indicators of entrepreneurship in small and medium-sized enterprises (SMEs), with a specific focus on enhancing SME competitiveness. By employing triangular fuzzy numbers to capture expert judgments, the proposed framework first applies F-BWM to evaluate the significance of six critical dimensions namely organizational innovation, risk-taking, external factors, competitiveness, responsiveness, and internal factors and subsequently uses fuzzy VIKOR, based on the derived weights, to rank four prominent SME sectors operating within a specific industrial setting. The findings indicate that organizational innovation (0.219) and risk-taking (0.217) exert the greatest influence on entrepreneurial competitiveness, whereas internal factors have the least impact (0.127). Among the sectors examined, the food and beverage industry emerge as the most favorable compromise solution (Q = 0.403). Overall, the proposed hybrid approach enhances the coherence and reliability of decision-making under uncertainty and provides practical and policy-relevant insights for policymakers and SME managers seeking to strengthen competitiveness, innovation, and sustainability in regional industrial development. http://www.cjournal.cz/index.php?hid=clanek&cid=
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Drawing on social network analysis and resource theory, we analyze the influence of the location (centrality and structural holes) in and network density of the standard cooperation network on technological standardization capability. We use the negative binomial regression model to analyze data on communication equipment manufacturers in the standard cooperation network that participated in the standard development from 2008 to 2023. The results reveal that centrality and structural holes have significant positive effects on technological standardization capability. Meanwhile, the network density negatively affects technological standardization capability. High network density can help enterprises to leverage the advantages of their centrality, but simultaneously weaken the advantages of structural holes. http://www.cjournal.cz/index.php?hid=clanek&cid=
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Central bank digital currency (CBDC) proponents argue that it holds significant potential to enhance financial inclusion in historically underserved regions such as sub-Saharan Africa and to facilitate international remittance flows across national borders. Beyond these benefits, CBDCs are increasingly recognized as strategic tools for enhancing national competitiveness by improving payment efficiency, strengthening digital financial systems, and fostering innovation within financial ecosystems. Consequently, interest in CBDC has surged in the post-pandemic era. However, empirical understanding of the key factors influencing CBDC adoption remains limited, particularly in emerging African economies. Drawing on Resource Matching Theory, this study investigates the determinants of CBDC acceptability using data from 464 potential adopters in Ghana, where successful CBDC pilot projects have been completed. The study employs partial least squares structural equation modelling (PLS-SEM) to examine the influence of CBDC awareness, subjective norms, and subjective well-being on CBDC acceptability, as well as the moderating role of risk aversion. The results indicate that all three factors significantly and positively influence CBDC acceptability, with awareness emerging as the strongest predictor. Furthermore, risk aversion weakens the positive relationship between subjective well-being and CBDC acceptability. These findings contribute to the literature by extending CBDC adoption research to the African context and by highlighting the importance of behavioural and psychological factors. From a policy perspective, the results provide actionable insights for promoting CBDC adoption and enhancing digital and financial competitiveness in emerging economies. http://www.cjournal.cz/index.php?hid=clanek&cid=
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The registration-based IPO system on China's Science and Technology Innovation Board (STAR Market) places strong emphasis on firms' R&D capabilities, which may induce some issuers to engage in R&D "window dressing" to improve their apparent competitiveness. This study investigates how R&D window dressing affects the long-term value and post-IPO performance of STAR Market-listed firms from 2019 to 2021, and whether underwriter reputation moderates these effects. Based on information asymmetry, agency theory, and signaling theory, we empirically examine the economic consequences of opportunistic R&D disclosure practices in a high-tech IPO setting. The results show that R&D window dressing significantly undermines firms' long-term value and operating performance, although reputable underwriters can partly mitigate these adverse effects. Firms with severe R&D window dressing exhibit lower shareholder returns and weaker financial performance during the first two years after listing. Using the COVID-19 pandemic as an exogenous shock, we further show that firms with less R&D window dressing display stronger resilience to external market fluctuations, highlighting the importance of substantive rather than symbolic innovation. The findings underscore the need for more transparent R&D disclosure and stronger intermediary oversight under the registration-based framework, and provide meaningful implications for regulators, investors, and underwriters in emerging tech capital markets. http://www.cjournal.cz/index.php?hid=clanek&cid=
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This study investigates how women’s engagement in leisure activities, domestic responsibilities, and structural labour market conditions jointly shape their socioeconomic outcomes in the European Union. Using a hierarchical regression framework based on panel data from 27 E.U. countries (2010–2021), indexed by the European Institute for Gender Equality (EIGE), we analyse three outcome domains: health, knowledge, and labour market participation. The results reveal that women’s frequent participation in out-of-home leisure activities and access to flexible working arrangements significantly enhance health, educational, and employment outcomes. Intensive caregiving responsibilities have a strong negative impact on both health and employment, while routine household tasks exhibit negligible effects. Structural employment factors further moderate these relationships: employment in education, health, and social work sectors improves outcomes across all domains, whereas a longer working life tends to weaken women’s health and knowledge-related results, suggesting potential trade-offs between sustained career engagement and well-being. The findings highlight that women’s socioeconomic advancement depends on the balance between personal autonomy, caregiving obligations, and structural work conditions. The study underscores the importance of policies that expand workplace flexibility, strengthen support for caregiving, and promote women’s participation in socially oriented sectors, thereby advancing gender equality and economic sustainability across the European Union. http://www.cjournal.cz/index.php?hid=clanek&cid=
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SMEs play a vital role in employment, innovation, and competitiveness worldwide, yet their governance structures remain underexplored in academic research. Existing studies on corporate governance predominantly focus on large publicly traded firms, leaving a gap in our understanding of how governance mechanisms operate in SMEs. To fill this gap, the primary purpose of this study is to introduce a novel and comprehensive corporate governance index tailored specifically to SMEs. Using stratified sampling, we conducted a structured survey of 469 SMEs across diverse sectors and firm sizes in Türkiye. This index comprises six subdimensions: board structure, family involvement, female participation, digitalization, corporate accountability, and succession, and its internal validity is confirmed with Cronbach’s alpha values above 0.70 for the overall index and most subindices. The second purpose of this study is to investigate the relationship between access to finance and SME performance, emphasizing the mediating role of corporate governance. Using cross-sectional regression analysis, our results show that access to finance significantly improves SME performance. We also find that corporate governance not only enhances performance directly but also mediates this positive association. To the best of our knowledge, this is the first study to demonstrate that access to finance influences SME performance through both direct and indirect channels. Overall, our findings highlight that effective governance structures are essential to maximize the benefits of access to finance. This finding underscores the role of institutional and managerial factors in enhancing firm-level competitiveness by enabling SMEs to leverage access to finance and governance practices to achieve sustainable growth. http://www.cjournal.cz/index.php?hid=clanek&cid=
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This study predicts the prices of digital cryptocurrencies, which are non-linear, highly volatile, multi-scale, noisy, and, therefore, considerably more difficult to forecast compared to other financial products. Despite the proliferation of cryptocurrency markets, research on digital cryptocurrency prices remains scarce, while the existing research often fails to elucidate the characteristics of digital cryptocurrency prices. We developed CEEMD-LSTM—a hybrid prediction model based on the decomposition-reconstruction-integration framework—to predict digital cryptocurrency price movements. The CEEMD method is applied to decompose prices into high-frequency components, low-frequency components, and trend sequences, and reconstruct the combined IMF components. Thereafter, we apply the LSTM model to predict each component separately and obtain the sorted predicted values of prices by adding and integrating the predicted values of each component. Using four time-intervals of high-frequency data of Bitcoin and Ether, we conduct a systematic comparison of the prediction accuracy between CEEMD-LSTM and other models, single or combined. Results reveal that the prediction effect of the CEEMD-LSTM model consistently outperforms that of other models in the high-frequency data world. These findings enhance the understanding and prediction of digital cryptocurrency price movements. Additionally, they enable investors to manage risks and promote market competitiveness, offer reliable support for decision-making, address uncertainty arising from volatility, facilitate timely strategy adjustments to exploit opportunities and identify potential risks, and provide new methods for risk mitigation. http://www.cjournal.cz/index.php?hid=clanek&cid=
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The field of risk management in the workplace is undergoing a significant transformation. (Mendes, 2024). New trends highlight the expanding risk environment, the shift towards proactive and preventive approaches, and the increasing use of data and technology (Mohamed, 2025). Implementing these new trends into organisational management is currently becoming a significant sign of competitiveness. This paper describes the relationship between the quality of risk management in the workplace and the size of the organization, the level of stakeholder involvement, the level of advanced information technology, the level and use of advanced tools for risk management in the field of occupational health and safety (OHS), the level of employee satisfaction, and the level of interpersonal relationships. Primary quantitative research focused on occupational risk management was conducted. Questionnaires were sent to 1,107 manufacturing companies within the Czech Republic. In the final phase, 160 responses were received. Standard statistical tests, such as the chi-square test, binomial test, and correlation analysis were used to analyse the data. Data was processed using R software version 4.3.1. The analysis showed that the level of OHS risk management is significantly related to the organisation’s size. The quality of documentation of OHS risk management procedures increases with the organisation’s size. Most organisations do regularly use OHS risk assessment techniques. Organisations with established OHS risk management policies show a better social climate. The correlation between the established OHS risk management policy and the quality of interpersonal relationships was not statistically significant. http://www.cjournal.cz/index.php?hid=clanek&cid=
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The corporate ESG score is often considered a proxy for competitiveness as it helps attract capital and investors. The study aims to empirically examine the relationship between analyst attention and corporate ESG score by using voluntary ESG information disclosure as a mediating variable. Although many studies have examined various factors that impact ESG scores, the role of voluntary ESG information disclosure has mainly been ignored. This study develops a voluntary ESG information disclosure index with 3 first-level and 37 second-level indicators based on the current ESG information disclosure regulations and ESG rating system in China. Panel data on China Securities Index (CSI 300) non-financial firms from 2015-2019 were used in two-way fixed-effects regressions (industry and year). CSI 300 is the barometer of the stock market, comprising 300 constituent stocks across various sectors with substantial market capitalisation and high liquidity from the Shanghai and Shenzhen stock exchanges. Mediation analysis was conducted using the Baron & Kenny (1986) three-step approach, followed by heterogeneity tests by splitting firms into four groups based on media coverage. The results show a significant positive relationship between voluntary ESG information disclosure and ESG score. Analysts' attention partially mediates the relationship: voluntary ESG information disclosure enhances ESG scores by about 35% through greater analyst attention. Further heterogeneity tests reveal that the amount of media coverage does not affect the positive relationship. However, the mediating effect of analyst attention is only significant among firms that receive "substantial" media coverage. The results have important implications for relevant government policy-makers, ESG rating agencies, firms, investors, and many others. http://www.cjournal.cz/index.php?hid=clanek&cid=
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The global initiative to address biodiversity loss and advance sustainable development has highlighted the importance of corporate biodiversity risk disclosure. Given this context, we construct a corporate biodiversity risk disclosure index to examine the influence of biodiversity risk disclosure on net trade credit. Our findings indicate that corporate biodiversity risk disclosure positively influences net trade credit. Additionally, this positive effect is influenced by the combination of suppliers’ increasing provision of trade credit and customers’ increasing requests for a reduced reliance on trade credit. Our channel analysis indicates that biodiversity risk disclosure significantly enhances net trade credit by improving information transparency and corporate reputation. A cross-sectional test demonstrates that greater social trust and lower credit availability strengthen the incentive effect of biodiversity risk disclosure on net trade credit. We further confirm that leveraging biodiversity risk disclosure for enhanced trade credit is an effective pathway through which to achieve supply chain sustainability. These findings contribute to corporate biodiversity risk governance and sustainable supply chain management.