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http://www.cjournal.cz Journal of Competitiveness Economy http://backend.userland.com/rss Mon, 03 Aug 2026 20:13:13 GMT http://www.cjournal.cz/imgs/cjournal_logo.png http://www.cjournal.cz
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This study examines how geopolitical risk affects firms’ innovation-led quality productivity (IQP) and how digital transformation moderates this relationship. It focuses on how firms adjust their productivity structures under external uncertainty shocks. Using monthly panel data on digital economy firms in the Yangtze River Delta, the study reports three main findings. First, geopolitical shocks exert a significant lagged negative impact on firms’ IQP. These external shocks do not immediately suppress innovation activities themselves; instead, they weaken innovation-led productivity by constraining market demand and the commercialization of innovative outputs. Second, in response to heightened geopolitical uncertainty, firms tend to strengthen internal restructuring, such as reallocating resources and increasing innovation investment. This creates a short-term defensive innovation response. Third, digital transformation provides only limited and heterogeneous buffering effects, which are insufficient to systematically offset the adverse impact of geopolitical risk on IQP. Building on the dynamic chain of “geopolitical risk → internal restructuring → innovation-led quality productivity → corporate competitiveness,” this study elucidates how external shocks reshape the transformation from innovation to productivity and, ultimately, to competitiveness through firms’ internal adjustment mechanisms. http://www.cjournal.cz/index.php?hid=clanek&cid=
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Family businesses typically place an emphasis not merely on financial goals, but also on preserving family values, maintaining family ownership, ensuring long-term survival and meeting social obligations, i.e., non-financial goals. This can lead to differences in their competitiveness and performance. Therefore, we focused on creating a compound variable that would allow us to quantify the differences between family businesses arising from their ownership and management structure, as well as from different family values. We simplify the measurement of the influence of socioemotional wealth on business performance using data from Central and Eastern Europe. Confirmatory factor analysis was used to create this variable. To verify the influence of family on the performance of family businesses, we created a linear mixed-effects model. The model was created based on the accounting data of micro, small, and medium-sized enterprises, which have a greater tendency to preserve family values. We measured performance by return on equity, and we used a derived compound variable, financial ratios, and other control variables as independent variables. We concluded that family relationships and socially responsible business influence the performance of family businesses. Moreover, in the interaction model, we demonstrated that the influence of the family is moderated by asset turnover and labour costs. http://www.cjournal.cz/index.php?hid=clanek&cid=
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Against the backdrop of intensifying global technological competition, the internationalization of standards has emerged as a pivotal strategy for securing leadership in emerging industries. Using the new materials industry as a case study and grounding the analysis in the theory of national competitive advantage, this study constructs a novel measurement model to investigate the impact of standard internationalization on industrial international competitiveness. Employing stepwise regression analysis on a dataset encompassing 50 countries, we demonstrate that standard internationalization exerts a significant positive effect, which is primarily channeled through two mediating pathways: fostering industrial agglomeration and stimulating technological innovation. Heterogeneity analysis further reveals that the effect is more pronounced in developed countries and in nations with lower levels of international cooperation. These findings not only suggest a viable pathway for breaking China’s vicious cycle of outdated standards but also offer valuable insights for enhancing the competitiveness of strategic emerging industries globally. http://www.cjournal.cz/index.php?hid=clanek&cid=
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This study investigates the influence of trust in supervisors (TS) and perceived supervisor support (PSS) on counterproductive work behaviors (CWB) as the intangible factor influencing competitive potential of organization. Additionally, it examines the moderating role of demographic variables, including” sex, age, tenure, and job type in these relationships. A theoretical model aimed to assess the effects of TS and PSS on organizational and interpersonal CWBs (CWB-O and CWB-I), as well as specific behavioral categories (abuse against others, theft, sabotage, withdrawal), is proposed. The model is verified based on a survey results, where Structural Equation Modeling (SEM) is employed to analyze the data. The findings indicate that TS negatively affects withdrawal, while PSS positively influences this category. Other relationships between TS/PSS and CWB were statistically insignificant. The moderating effect of demographic variables was observed only for sex. The obtained outcome is pivotal for building intangible resources of organization, which are critical for keeping competitive advantage. http://www.cjournal.cz/index.php?hid=clanek&cid=
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In the contemporary competitive landscape, enterprises strive to bolster their competitiveness through technological innovation and structural upgrading. The carbon financial market pilot (CFMP) policy serves as a critical instrument to incentivize emission reduction and foster green technology adoption, thereby enhancing firm’s competitive edge. Using CFMP as a quasi-natural experimental setting, the current research explores its effect on the development of new quality productive forces (NQPF) relying on balanced panel samples of listed firms covering 2011 to 2022. Methodologically, this study applies double machine learning techniques, multi-period difference-in-differences, two-way fixed effects models, and multiple robustness tests, as well as heterogeneity analyses. Our findings reveal that CFMP significantly promotes NQPF, with the key innovation being the identification of crucial mediating channels: mitigating information asymmetry and lowering financing costs, particularly by reducing equity financing costs. Further analysis shows that CFMP enhances enterprises’ core competitiveness, with the mediating effect of NQPF in market performance and their short-term policy effects more prominent in fiscal performance and innovation capability. Furthermore, the effect features greater intensity in lower competition intensity, large enterprises, and state-owned enterprises operating in areas lacking stringent environmental constraints. This study sheds light on the part played by carbon finance mechanisms in shaping corporate competitiveness and green transformation. Policy implications include establishing a special green development fund for NQPF, building a national unified carbon finance information platform, implementing hierarchical and targeted support for enterprises of different types, and strengthening policy coordination between CFMP, green finance, and environmental subsidies to avoid overlapping or conflicting objectives. http://www.cjournal.cz/index.php?hid=clanek&cid=
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This study examines the determinants of food security in Algeria from 1990 to 2021, using the Food Production Index (FPI) as a proxy and an autoregressive distributed lag (ARDL) framework as the analytical tool. The set of explanatory variables comprises the area of land under cereal production (in hectares), the inflation rate, the exchange rate, and gross fixed capital formation (GFCF). Particular attention is paid to the link between food prices and the competitiveness of the Algerian food sector, given the country’s persistent reliance on imports. The results reveal a long-run equilibrium relationship among the variables and indicate that land under cereal production, gross fixed capital formation, and the exchange rate exert a statistically significant influence on food prices in both the short and long run, while inflation has a negative but statistically insignificant effect. A Zivot–Andrew’s test identifies a structural break in 2019, which the model accommodates without loss of stability. The study finds that improving competitiveness in Algeria’s food sector calls for sustained agricultural investment, firm control of inflation, and stronger resource-use efficiency, all of which together support the stability of food prices. From a policy and competitiveness perspective, the study recommends formulating an effective monetary policy that supports food production and curbs the inflationary pressures threatening food security. Greater attention should also be devoted to promoting Algerian exports and to building a strong domestic food sector capable of substituting imports in both quality and quantity. Stabilizing the exchange rate would encourage investment, reduce import dependence, and help to contain food-price inflation. Finally, redirecting attention to productive farmland is essential for achieving economic diversification and a more competitive food-security base. http://www.cjournal.cz/index.php?hid=clanek&cid=
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Formal R&D collaborations enable firms to leverage knowledge as a strategic resource for enhancing their competitive position in the market. However, the relationship between such collaboration and geographical proximity remains complex. To help explain mixed findings in existing research, we combine ideas from absorptive capacity and knowledge diversity preference. Our findings reveal an inverted U-shaped pattern between geographical proximity and industry–academia collaborative innovation. Weaker decay rate of absorption capacity intensifies this effect, whereas the pursuit of knowledge diversity mitigates it. Additionally, we identify that pro-innovation policies matter, and geographical features and industry competition degree serve as sources of heterogeneity. Furthermore, rather than expanding partnerships to other organizations, firms are more likely to retain benefits from existing collaborations to reduce competition within industry and strengthen their own market power. Collaboration with universities exhibits a stronger positive effect on firm survival, while working with top-tier universities tends to limit a firm’s capacity for further innovation. This study offers a novel perspective for understanding the dynamics between geographical proximity and knowledge externalities, and provides practical insights for firms seeking to enhance competitiveness through industry–academia collaboration. http://www.cjournal.cz/index.php?hid=clanek&cid=
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Crowdlending offers an efficient alternative to traditional financial intermediaries. However, despite its recognised benefits, crowdlending transaction volumes remain stagnant worldwide. In response, securing crowdlending platforms’ competitiveness requires ensuring that they are attractive to lenders and borrowers alike. The core benefits that entice crowdlenders include the interest rates on offer for this type of lending. Therefore, the present study aims to identify the combinations of conditions that explain what interest rate crowdlenders expect to receive. The revised stimulus-organism-response (S-O-R) theory is used, supported by an empirical study using qualitative comparative analysis (QCA) and necessary condition analysis (NCA). The results for a sample of 94 crowdlending investors identify two terms that explain the expectation of high interest rates and three terms that explain the non-expectation of high interest rates. Furthermore, the results show that knowledge acts as a necessary condition for both expecting and not expecting high interest rates. Conditions that are always present in explaining the expectation of high interest rates are having a high level of financial knowledge and not considering information shared by the platform on social media to be useful. Conversely, explanations of the non-expectation of high interest rates always contain lenders’ high green perceived value. These findings can help crowdlending platforms strengthen their competitiveness by allowing them to offer lower interest rates to these lenders. The findings thus underscore the importance of lenders’ financial knowledge and green perceived value. They also provide novel insights regarding the dissemination of information to lenders. http://www.cjournal.cz/index.php?hid=clanek&cid=
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In the context of the global low-carbon transition, elucidating the microeconomic implications of environmental regulation is crucial for effective policy design. This study leverages China’s phased implementation of the Low-Carbon City Pilot (LCCP) policy as a quasi-natural experiment to examine its causal impact on corporate asset allocation and competitive resilience. Employing a multi-period difference-in-differences (DID) design on a dataset of Chinese A-share listed firms (2003–2024), we document three key findings. First, the LCCP policy significantly induces corporate financialization, as firms increase financial asset holdings driven by profit-seeking and precautionary motives to buffer against regulatory uncertainty. Second, financialization exerts a divergent "Dual Effect" on firm competitiveness: while it enhances Carbon Productivity through compliance efforts, it erodes Total Factor Productivity (TFP) via a resource crowding-out mechanism. Third, heterogeneity analysis reveals a notable "Compliance Cost Effect": contrary to the resource-buffering hypothesis, firms possessing robust green technological endowments incur higher substantive transformation costs, thereby experiencing a more pronounced short-term erosion in TFP compared to non-innovating peers. Furthermore, in heavy-polluting industries, we identify an underlying "Intertemporal Crowding-out Effect," wherein excessive financial asset allocation significantly displaces green investment with a two-year lag. These findings underscore the unintended costs borne by "first-movers" and suggest that policymakers should implement precision-guided compensatory mechanisms to prevent active responders from falling into a competitiveness trap. http://www.cjournal.cz/index.php?hid=clanek&cid=
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Recent economic crises, including the global financial crisis, the euro area crisis, and recurring political and trade tensions, have increased interest in the role of psychological and social factors in economic outcomes. In this context, economic policy uncertainty (EPU) has gained attention due to its potential negative effects on economic activity. This paper examines the impact of EPU on 10-year sovereign bond yields. We apply a two-stage least squares (2SLS) panel model to a sample of 20 countries from February 2011 to September 2019. The results show that EPU has a positive and significant effect on sovereign bond yields. When comparing country groups, the effect is positive and statistically significant only in developed economies. These findings suggest that investor insecurity related to EPU affects sovereign bond markets and highlights the importance of reducing policy uncertainty to limit adverse effects on public debt. http://www.cjournal.cz/index.php?hid=clanek&cid=
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China’s comprehensive regional group revitalization and common prosperity (CP) model has made strides in addressing the pitfalls of fragmented rural development. With this issue, single social networks are typically prioritized, and limited attention is paid to the underlying transmission mechanisms. Hence, we construct an integrated framework linking social embeddedness, rural regional sustainable competitiveness (SC), and CP to better understand the enablers of common social prosperity: deep cross-village synergy. Enablement entails three dimensions of social embeddedness: organization, rules, and structure. Although the framework does not directly produce CP, it transforms production, life, and ecological activities into sustainable rural competitiveness. Using the Daxia Jiang region in Zhejiang Province as a survey-based econometric study, we find that systematic improvements to competitiveness connects social embeddedness and CP. Furthermore, Rural regional sustainable competitiveness plays a dominant mediating role in the "social embeddedness → common prosperity" pathway, with the indirect effect accounting for 101.48% of the total effect. Subdimension tests show that production competitiveness is the most prominent mediator (82.93%), followed by life and ecological competitiveness. Additionally, the promoting effect of social embeddedness is stronger in economically weaker and remote villages, indicating the need for stronger inclusion. The system through which regional group development progresses from social relationship construction to system capability formation is shown, enabling the strategic achievement of CP. A new theoretical perspective for understanding the internal drivers of coordinated rural regional development is provided, highlighting the importance of cultivating systematic regional competitiveness. http://www.cjournal.cz/index.php?hid=clanek&cid=
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This study examines the impact of strategic agility (SA) on the performance of small and medium-sized enterprises (SMEs) and investigates the mediating roles of sustainable competitive advantage (SCA) and business model innovation (BMI). Furthermore, it explores how SA enhances SME competitiveness in dynamic and uncertain business environments. Drawing on the literature on SA, SCA, BMI, and SME competitiveness, this study adopts a quantitative research design. Data was collected through a structured questionnaire administered to 202 chief executive officers (CEOs) of SMEs in Isfahan Province, Iran. The proposed research model and hypotheses were tested using partial least squares structural equation modeling (PLS-SEM) with SmartPLS 3. The results indicate that SA has a positive and significant effect on SME performance. Furthermore, SA indirectly enhances performance through SCA and BMI, both of which serve as significant mediating mechanisms. The findings suggest that strategically agile SMEs are better positioned to develop distinctive competitive advantages, foster business model innovation, improve organizational effectiveness, and strengthen their competitiveness in highly volatile markets. This study extends the strategic agility literature by simultaneously examining the mediating roles of SCA and BMI in the relationship between SA and SME performance. Grounded in dynamic capabilities theory (DCT), the resource-based view (RBV), and entrepreneurial innovation theory, this framework offers a comprehensive explanation of how SA enhances competitiveness and organizational performance among SMEs operating in emerging economies. http://www.cjournal.cz/index.php?hid=clanek&cid=
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Amid the digital transformation of the global tourism sector, understanding tourist behavior and preferences is critical for enhancing tourism competitiveness, particularly in the post-COVID-19 context. This study integrates machine learning–based sentiment analysis with configurational methods to examine how tourism destinations achieve high competitiveness. Focusing on 34 5A-level tourism destinations in China, we analyze a large corpus of tourist-generated content to identify key destination attributes and assess their performance. Using topic modeling and sentiment analysis, we extract core attributes reflecting tourists’ concerns and experiences. We then apply fuzzy-set qualitative comparative analysis (fsQCA) and necessary condition analysis (NCA) to uncover configurational pathways leading to high tourism competitiveness. The results reveal that no single attribute is sufficient on its own; instead, multiple configurations of destination attributes jointly drive competitiveness. Specifically, five distinct configurational models are identified, representing alternative “recipes” for achieving high-performing and competitive destinations. This study contributes a novel analytical framework that bridges data-driven sentiment analysis and causal configurational logic. The findings provide actionable insights for destination managers to design targeted strategies that enhance both tourist satisfaction and competitiveness. Beyond the Chinese context, the proposed framework is transferable to other tourism settings, offering a scalable approach for analyzing destination competitiveness in the digital era. http://www.cjournal.cz/index.php?hid=clanek&cid=
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This study investigates how corporate sustainability performance and innovation intensity influence firm competitiveness and valuation within the Eurozone. Using a panel dataset of non-financial firms from 2016 to 2023, the research investigates how ESG performance, innovation intensity, as well as their interaction, influence revenue growth, market share, Tobin’s Q, and EV to EBITDA. The results show that sustainability and innovation are positively associated with firm-level outcomes, and their interaction further amplifies these effects. Firms that integrate ESG into their innovation strategies consistently outperform peers in growth, competitiveness, and market valuation. In contrast, firms involved in ESG-related controversies exhibit weaker performance, highlighting the importance of credibility in sustainability practices. These findings suggest that the alignment of ESG and innovation enhances strategic coherence and market confidence. The study contributes to emerging research on the financial materiality of ESG and offers new insights into how firms can leverage sustainability and innovation to achieve long-term advantage.