Central European Business Review

3-15

Authors: Michael Bahles, Gina Cook

Globally, there are many profound changes going on within the automotive sector. There are new technological developments like e-mobility and autonomous cars, as well as new business models such as car sharing that may make purchasing a car obsolete for the younger, international target group. The intention of this paper is to identify the role and importance of cars in the young target group internationally and to explore current motives for buying an automobile. To this end, the authors conducted a psychological research study on a diverse group of upper division undergraduate and master’s degree level students originating from more than twenty different nations. Research methods used include structured one-on-one interviews and in-depth focus groups. The study’s results are useful for international marketing practitioners as they contribute to understanding the relevance and importance of automobiles for the international youth target market as well as identification of motives regarding car purchase across various countries. The results have implications for international managers within the automotive industry for the development of new mobility concepts as well as for international marketing communications within the automotive sector.

27-40

Authors: Kamila Mikolajová, Květa Olšanová

This paper aims to define the consumer journey of children through their childhood stages and provide specific touchpoints relevant for a given age, which could be integrated into the marketing communication of car brands to start building this young audience as future buyers. A qualitative study of children in different age brackets was used to identify their current and potential touchpoints with the car industry. The results of the study present specific stands on the prepurchase stage of the children’s consumer journey where the brand might interact with children and build the long-term positive attitudes of this group of potential customers. Specific implications for the industry in terms of understanding the language of the mobile game applications, computer games, YouTubers and integrating those specific activities into the brand’s marketing communication are highlighted for the car industry marketers.

51-61

Authors: Šárka Zapletalová

Realization of international entrepreneurial activities is a significant step influencing the business strategy of each enterprise. The paper raises the question of which internal factors, particularly human resources, influence the decisions on the realization of international entrepreneurial activities in Czech family SMEs. The objective of the paper is to determine the effect of selected internal factors on the decisions on the realization of international entrepreneurial activities by Czech family SMEs. The enterprises included in the study are those Czech family SMEs that have already undertaken internationalization activities and were established in the Czech Republic. The research study includes 246 Czech family SMEs. The method included oral questioning and a questionnaire as the principal instruments applied for researching the relationship between human resources and decision making. The results of the research study show the significant influence of human resources on the decision in Czech family SMEs.

5-17

Authors: Mihaela Vancea, Mireia Utzet

The article explores the relationship between unemployment and precarious employment, and young people’s entrepreneurial intentions in Spain. We focus on the effects of employment conditions and experience on young people’s intentions to start their own business or become selfemployed. The role of socio-demographic characteristics and behavioral factors such as perceived self-efficacy and desirability as well as risk taking were also analyzed. The analyses were based on a cross-sectional representative sample, corresponding to the year 2016, of Spanish working young individuals aged 18 to 35 years (n=1.678). All analyses were stratified by gender. The results show that besides behavioral attitudinal factors that seem to particularly influence the entrepreneurial intentions of Spanish young people, having a precarious contract or being unemployed for more than six months cannot be regarded as necessity-driven factors for increasing intentions toward entrepreneurship. Instead, well educated, experienced and economically stable women are more likely to engage in entrepreneurial activity than men.

30-41

Authors: Edit Terek, Milan Nikolić, Dragan Ćoćkalo, Sanja Božić, Aleksandra Nastasić

This paper presents the results of research about the impact of envy on enterprise potential and entrepreneurial intentions. The research was conducted in Serbia and the respondents were students from 5 faculties, from the first to the fifth year of study. The results were gained by statistical analysis of the gathered information (380 completed questionnaires). Descriptive, correlation and regression analysis are the methods of statistical analysis that were used. From the dimensions of enterprise potential, the highest average value has the dimension Creativity, while from the dimensions of entrepreneurial intentions, the highest average value has the dimension Subjective norm. Of all the observed dimensions, the lowest value has the Envy dimension. Between envy and dimensions of enterprise potential and dimensions of entrepreneurial intentions, there are a number of statistically significant negative correlations. This is more prevalent at the dimension of entrepreneurial intentions. Feelings of inferiority in relation to other people and the perception of having a boring or a bad life have an especially negative impact on entrepreneurial potential and intentions. Envy, which occurs due to the desire for more entertainment, travel, and due to the perception of the lack of fortune, also has a negative impact on entrepreneurial potential and intentions, but the influence is considerably weaker. There is a statistically significant predictive effect of certain items of envy on enterprise potential dimensions and entrepreneurial intentions dimensions. But this fact is not so strongly expressed. Some results suggest the possibility (however small) that envy, in some circumstances, can mildly encourage entrepreneurial intention.

54-63

Authors: arian Holienka, Peter Gál, Zuzana Kovačičová

The aim of our paper is to find out what drives student entrepreneurs in Visegrad (V4) countries (i.e. the Czech Republic, Hungary, Poland, Slovakia) in their business activities. Our analysis is built on 2016 data from GUESSS project – an extensive academic study on student entrepreneurship, and our main sample comprises of 15,971 V4 university students. Potential drivers from individual human and social capital characteristics, perceived institutional support, and demographic attributes are examined, using the logistic regression method. Applying a unique perspective and distinguishing between different types of student entrepreneurs, we focus especially on promisingly sustainable student entrepreneurs with already active businesses, who plan to continue them after completing their studies. According to our results, gender (being a male), increasing age together with dropping number of years to finish studies, intensity of entrepreneurship education, studying in a business-related field, and having entrepreneurial parents significantly drive student entrepreneurship inclinations during their university studies.

3-3

Authors: Ondřej Machek

Editorial

23-33

Authors: Peter Juhasz

Relying on three questionnaire-based surveys from 2004, 2009 and 2013, each covering around 300 top financial managers of different Hungarian manufacturing and service companies, this article analyzes how the perception and measurement of intellectual capital (IC) elements has changed. Instead of focusing on stock exchange prices or case studies of individual firms, this research is unique for using a database on the opinion of top managers over a decade. After the managers, IC has slightly gained importance giving 48-51 percent of the firm value during the years analyzed, still, most companies give little attention to measuring these items correctly. This is dangerous, as by just focusing on traditional accounting measures or relying on outdated methods, top managers are less likely to take shareholder value maximizing decisions. Encouragingly, those who measure do it better: book value has lost popularity while more appropriate market value based estimates have gained importance.

47-60

Authors: Edina Berlinger, Barbara Domotor, Ferenc Illes, Kata Varadi

As a regulatory answer to the crisis, financial instruments are increasingly forced to be cleared centrally even in the OTC markets; therefore, risk management of central clearinghouses has become a central issue. A key term of the regulation is a stress event; however, it is not specified in the legislation what should be meant under stress in the case of a clearinghouse. To find an objective stress indicator, we built up a micro-simulation model of a hypothetical clearinghouse operating on the U.S. equity market between 2007 and 2015. Based on this, we developed a logit regression model to specify an appropriate stress indicator and we showed that our “tailor-made” stress index calibrated to the position of the clearinghouse performs significantly better than the usual market proxies for financial stress.

71-78

Authors: Eszter Barakonyi

Communal forms of employment have deep roots in Europe, however these definitions have not been clarified in Hungary yet. This is partly due to the lack of exposure, and partly due to the lack of a proper, sophisticated regulation framework. The goal of this study is to organize general terms and aims, introduce the institutional environment, and to highlight problematic areas.

3

Authors: Ondřej Machek

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18-29

Authors: Jana Filová

The methods currently used in innovation marketing research are focused on the late phases of the innovation process and are usually methodologically complex. This limits their practical impact. The presented work aims to create a simple self-report scale applicable in the initial and late phases of the innovation process, highly modular and suitable for a wide range of research. The main battery of questions was inspired by the adopter categorization by Rogers. The questions determine both (1) general characteristics of innovation adopters and (2) their relationship to a specific innovation. The scale was tested during robust longitudinal online research, thematically focused on users of modern technologies. A representative sample of 4,000 Internet users in the Czech Republic took part in the survey from 2013 to 2015. The result is a new self-report scale measuring consumer innovativeness applicable for prototyping, strategic decisions and effective communication of innovations to consumers.

48-57

Authors: Emilia Startseva, Natalja Gurvits, Inna Sidorova

Today the subject of non-financial accounting and reporting has become very popular. Human Capital Reporting (HCR) has become a vital part of everyday business activities of companies across the world. Most companies declare that human capital is the most important factor of their competiveness, which is also reflected in their CSR reports by incorporated social disclosures. The subject of the present research is human capital reporting and its linkage with the performance indicators of companies. The aim of this research is to establish whether there is a linkage between HCR and financial performance indicators of Estonian companies listed on the Nasdaq OMX Baltic (Tallinn market). The authors calculated various ratios and carried out HCR scoring to examine the presence of linkage between HCR reporting and companies’ financial performance. The results demonstrate that there is no direct relationship between the level of HCR and the financial performance of selected companies.

71-74

Authors: Yves Frédéric Livian

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7-13

Authors: Ilya Bolotov

This paper describes the specifics of the current development of the world economy and discusses implications for new member states of the European Union, the EU NMS, with a small case study on the Czech Republic. The paper is divided into four parts: the trends, the EU NMS and the effects of the trends in the EU NMS and in the Czech Republic. The paper is based on a general economic analysis of data provided by the World Bank (WB), the International Monetary Fund (IMF), Eurostat, the European Central Bank (ECB) and by the Czech Statistical Office (CZSO). Being familiar with recent macroeconomic trends is nowadays important for Central and Eastern European managers in order to efficiently adapt their strategies to the constantly changing business environment.

20-29

Authors: Sławomir Czarniewski

The purpose of this work is to show the economic conditions of the postal market in Poland. The pace of economic transformation and growing competition in the postal market means that Polish Post is somehow forced to take new measures to improve the effectiveness of communication with their market environment. The focus points of this study are the economic mechanisms of the effectiveness and efficiency of the process of communicating specified value to the customer, and an attempt to identify the factors boosting an increase in efficiency. The reflections contained in the paper do not have definite characteristics and should be treated as an opinion in the discussion.

37-42

Authors: Michael Bahles

In international management, there are observable difficulties in development processes and international alignments similar to situations in international diplomacy. This article presents application of the theories and concepts of international diplomacy on the practice of international marketing. It is the first application of the concept of international diplomacy for management, especially marketing practices. The goal of the article is to elaborate the concepts and solutions of international diplomacy for international marketing. The used research method is secondary analysis of existing theories and concepts of diplomacy in combination with expert interviews with international diplomats as well as international marketing practitioners. The results of the presented examination have interesting managerial implications for international marketing development processes, showing that the virtues of international diplomacy can be adapted to the practice of international marketing.

49-51

Authors: Tomáš Poucha

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