Central European Business Review

1-14

Authors: Dina Lončarić, Marina Perišić Prodan, Lidija Bagarić

This paper contributes to the debate about the relationships among tourism experience co-creation, satisfaction with vacation experience, satisfaction with the impact of vacation on overall life, life satisfaction and behavioral intentions. The main purpose of this paper is to point out the importance of tourist engagement in the co-creation of the vacation experience and the impact of satisfaction with that experience on life satisfaction and behavioral intentions. A survey was conducted on a convenience sample of 263 international tourists who visited several tourist destinations in Croatia. To test the proposed model, partial least squares structural equation modelling (PLS-SEM) was employed. It has been established that co-creation of tourism experience significantly contributes to the satisfaction of tourists staying in a destination, which has a positive effect on life satisfaction and future behavioral intentions.

34-60

Authors: Jindřich Špička

The article aims to evaluate the impacts of strategic investments in biogas plants on the economic sustainability and vulnerability of farms with a special focus on investment subsidies. Data spanning 148 farms from the Czech Republic over a thirteen-year period (2004-2016) are used to estimate random effects panel regression models to quantify the short-term and long-term economic sustainability and vulnerability of integrated energy production in the context of mixed type farming. Investments in biogas plants can negatively affect the viability of agricultural companies in the short term because farms which invest in biogas suffer from debt pressures due to inadequate revenues in the construction phase. However, in the long term, the effects of biogas plant operations are positive: economic sustainability is enhanced and vulnerability is reduced mainly due to public support for renewable energy production in the form of feed-in tariffs and green bonuses. Comparing farms that received investment subsidies with nonparticipating farms indicates a high deadweight loss effect which means that programme participants would undertake a similar investment without programme support. However, the investment subsidies improve recipients´ cash flows.

16

Authors: Aliaa El Shoubaki, Meike Stephan

The life satisfaction of entrepreneurs is a subject of increasing importance. Research shows that entrepreneurs are more satisfied with their jobs when compared to wage earners. However, it remains poorly understood how satisfied entrepreneurs are with their lives. We argue that the family can contribute largely to how individuals feel about their lives. In particular, research suggests that the life partner influences the individual’s life satisfaction differently depending on their occupation (employed or self-employed). Thus, in this paper we investigate the effect of life partners on the life satisfaction of entrepreneurs. To do so, we use arguments from the family embeddedness perspective on entrepreneurship and test them using data from the 2016 cohort of the German Socio-economic Panel Study (SOEP) and regression models. We find that the life partner contributes positively to the life satisfaction of entrepreneurs and wage earners. This effect is greater for entrepreneurs without employees as compared to entrepreneurs with employees. These results contribute to the understanding of an under researched outcome of entrepreneurship which is the life satisfaction of entrepreneurs.

25

Authors: Květa Olšanová, Gina Gook, Marija Zlatić

The topics of sustainability and strategic corporate social responsibility are currently being discussed by different stakeholders on academic, industry and various activist levels; however, the level to which they are incorporated into organizations’ strategy varies significantly by industry. The needs of the customers as well as the requirements from state governance may challenge the currently relatively “CSR silent” luxury industry to become more active in its contribution to social responsibility. This paper investigates the topic of corporate social responsibility within the context of the luxury industry, the extent to which customers are aware of CSR and the significance of the role it plays in their customer journey. The authors provide a literature review focused on exploring CSR variables that impact customer purchase intention in general and specifically in the luxury segment, from which they identify key CSR measures and conduct qualitative research to develop a theoretical framework. It suggests that purchase intention in the luxury segment is dependent on the luxury values, individual sustainable dimension and awareness of the brand’s CSR, the last two relationships being potentially moderated by certain conditions such as demographics and general positive attitudes towards CSR and sustainability. The model’s output is in the formulation of several propositions for further research. Overall, the qualitative interviews indicate that while knowledge of the specific CSR activities of particular luxury brands was low, luxury buyers in this research tend to express quite positive attitudes towards CSR in general, were rational, and very open to considering CSR as an added value to their luxury shopping.