Vol. 8, Issue 2, 2023
The Effects of Clothing Purchase Determinant Factors Associated with Customer Temperament
- Page: 133
- Authors: Corina-Elena MIRCIOIU, Simona Cătălina ȘTEFAN
- Abstract: The purpose of this paper is to determine and quantify the effects of the clothing purchase determining factors associated with the customer’s temperament (sanguine, choleric, phlegmatic, and melancholic). A number of 192 respondents participated in an electronic questionnaire, 68.8% of whom were women. The results were analysed with the help of the Process-based structural equation modeling application, provided by SmartPLS 4 software. The results obtained showed that in the purchase process, social factors and appearance are important for sanguine people; in the case of choleric individuals, the conferred status and superior quality of the product are essential; for phlegmatic people, it is important that the product responds appropriately to a need and provides comfort; and melancholic people take into account ecological factors and identification with the product. These results can be useful to clothing companies for the adoption of sales strategies that consider the buyers’ interest factors regarding the products..
- JEL Classification: C12, C3, M1, M2
- Keywords: consumer, temperament, purchase decision, clothing industry
- DOI: 10.24818/mer/2023.06-01
Technopreneurship and Clients Expansion: Lagos State Micro, Small and Medium Enterprises Experience
- Page: 147
- Authors: Ahmed Adeniyi OJIKUTU, Johnson A. EGWAKHE, Victoria AKPA, Folorunso I. AKANDE
- Abstract: Regardless of the context, micro, small and medium enterprises (MSMEs) continued to encounter challenges that threaten their performance in terms of expanding customer bases
as such; this paper investigates the effect of technopreneurship dimensions on the client’s
expansion of selected MSMEs in Lagos State, Nigeria. A survey research design was adopted
and the population was comprised of 7,017 owners/managers from 6 purposively selected
MSMEs technology hubs. A sample size of 475 owners/managers was determined using
simple random sampling techniques adopted for the study. A validated and structured
questionnaire was adopted for data collection after Cronbach’s alpha reliability coefficients
were established. The findings revealed that the technopreneurship dimensions had a
significant effect on client expansion with Adj.R2 = 0.424; F(5, 277) = 52.809, p < 0.05. The
study recommended strengthening technopreneurial activities for clients’ growth within the
business ecosystem. - JEL Classification: M10, M13, M15, O31, O33
- Keywords: capabilities, clients expansion, enterprises experience, innovativeness,
learning, technology, technopreneurship - DOI: 10.24818/mer/2023.06-02
Investor Herd Behaviour during the COVID-19 Pandemic: Evidence from the Johannesburg Stock Exchange
- Page: 158
- Authors: Damien KUNJAL, Saiurin NAIDOO, Caleb MOONSAMY, Thavania GOVENDER, Riley NAIDOO, Ebrahim ALLY
- Abstract: The COVID-19 pandemic has caused extreme volatility in financial markets globally. During periods of extreme volatility, investors tend to exhibit herd behaviour. However, herd behaviour results in market anomalies, which causes incorrect valuations and pricing. Hence, the objective of this study is to test whether COVID-19 has induced herd behaviour in South Africa’s stock market. To achieve this objective, the FTSE/JSE Top 40 Index is used as a proxy for stocks trading on the Johannesburg Stock Exchange. The cross-sectional absolute deviation (CSAD) methodology is employed, and the sample period ranges from July 3, 2017 to June 30, 2021 with March 5, 2020 dividing the pre- and post-COVID-19 periods. The results suggest an absence of herd behaviour in the FTSE/JSE Top 40 Index during the full, pre- and post- COVID-19 sample periods. Therefore, this study concludes that the COVID-19 pandemic has not induced herd behaviour in the South African stock market. This could indicate that stock investors on the JSE follow their own thought and decision-making processes in periods of extreme volatility. Moreover, this may suggest that the South African stock market is efficient and that investors execute rational and well-thought out trades.
- JEL Classification: G11, G14, G40
- Keywords: COVID-19, Herd behaviour, Johannesburg Stock Exchange, Pandemic, Stock Market
- DOI: 10.24818/mer/2023.06.03
To Invest or not to Invest: The Start-Up Investment Decision-Making Process
- Page: 170
- Authors: Corina SERBAN (PATRINTAS), Cristian NEGRUTIU, Andreea-Nicoleta BICHEL
- Abstract: This article discusses the five stages involved in securing financing for a start-up business. The first stage involves market analysis to determine the potential for development, including estimation of the addressable market, analysis of the competitive environment using tools like the Five-Forces Model, and identification of the ideal customer and/or consumer. The second section focuses on the business model, which involves determining whether the product is technological or service-based, and conducting a product description, numerical estimation, and definition of the technological dimension. The third section outlines the growth strategy, including identifying competitive advantages and developing a roadmap with the main commercial and technical characteristics to be developed in the future. The fourth stage involves determining the amount of investment required and how the funds will be used. The evaluation of the start-up is a crucial step in this process. The article identifies two fundamental principles for evaluation, namely, that the earlier the start-up, the less sophisticated the evaluation methods, and that since start-ups are not listed on the stock exchange, evaluation is eminently subjective and a continual negotiation process. The final stage involves auditing the existing situation to determine whether the company presents legal or financial risks and whether financing can take place or not.
- JEL Classification: M13, D25, D70, D81
- Keywords: competitive advantages, Five-Forces Model, growth strategy, investment, risks
- DOI: 10.24818/mer/2023.06-04
Perspectives of Collaboration between Large Firms and High-Tech SMEs Regarding Open Innovation (OI)
- Page: 180
- Authors: Daniel RUSU
- Abstract: This article aims to explore Open Innovation (OI) collaborations between high-tech small and medium-sized enterprises (SMEs) and large customers. The aim of the study is to add new perspectives regarding the specific and special way in which smaller companies initiate and develop relationships based on trust with larger customers in order to innovate and, at the same time, highlight the special contribution of customers in terms of the innovation process of SMEs. It presents perspectives regarding the way in which SMEs, by building trust, initiate and grow OI relationships with research clients but also with clients present in industry. According to the results, large customers, directly and indirectly, contributed significantly to the innovation processes of SMEs. The study focuses on SMEs aiming to adopt an OI strategy that involves enhancing legitimacy, building trust, and leveraging relationships with research institutions and larger clients. By investigating how SMEs develop partnerships with these entities, the study contributes to the existing OI literature by exploring how SMEs navigate the advantages and challenges associated with OI while fostering trust-based relationships.
- JEL Classification: D8, L1, M1, M16
- Keywords: Open innovation practices, Customer collaboration, Building trust, Open innovation, SMEs, Trust
- DOI: 10.24818/mer/2023.06-05
Measurement and Analysis of Dynamics of Financial Performance and Efficiency of Trade in Serbia Using Iftopsis and Topsis Methods
- Page: 201
- Authors: Radojko LUKIĆ
- Abstract: Due to the nature of the trade, it is challenging to research the factors of the dynamics of financial performance and trade efficiency in Serbia. With this in mind, this paper measures and analyses the dynamics of financial performance and trade efficiency in Serbia using the IFTOPSI and TOPSIS methods. The results obtained from empirical research show that according to the IFTOPSIS method, the top five years in order include: 2004, 2020, 2015, 2007 and 2017. The worst year is 2006; and according to the TOPSIS method, the top five years in order include: 2020, 2019, 2017, 2018 and 2011. The worst year is 2002. Recently, according to both methods, the financial performance and efficiency of trade in Serbia have improved. This was influenced by: economic climate, inflation, exchange rate, inflow of foreign direct investments, management of human resources, assets, capital, sales and profit, implementation of new business models (multichannel sales, sales of organic products, private label), cost management (for example, costing by activity), customers and product categories. The digitisation of the entire business has a significant role in this. The impact of the COVID-19 pandemic has been mitigated with e-commerce. Adequate control of these and other factors can influence the achievement of the target financial performance and trade efficiency in Serbia.
- JEL Classification: L81, M31, M41, O32
- Keywords: financial performance, efficiency, factors, Serbian trade, IFTOPSIS-TOPSIS method
- DOI: 10.24818/mer/2023.06-06
The Impact of Intercultural Communication on Cultural Intelligence
- Page: 220
- Authors: Ruxandra Nicoleta POPESCU
- Abstract: Multicultural relations have become a characteristic feature of global economic and social reality. The ever-increasing mobility of the workforce has led to a significant growth in its organisational heterogeneity. Understanding the climate induced by the ethnic diversity of the workforce and the way that performance can be improved at organisational level, have become management priorities in a multicultural environment as these elements are indicators of success. This study aims to highlight the relationships between the level of intercultural communication (IC) and cultural intelligence (CQ) at the individual level. The sociological survey, based on a questionnaire, was the basic element in obtaining primary information. The questionnaire was administered to a sample of 367 people working in multinational companies in Romania. The results were processed by econometric methods using SPSS software. The study highlights the direct and positive links between levels of intercultural communication (IC) and cultural intelligence (CQ) at the individual level. The results of the study are only valid at the national level. In order to increase the relevance of the results, we consider it necessary to extend the sample by including more people. By conducting this study, we highlight the importance of having a high level of IC, a level that induces a significant increase in CQ value at the individual level, and also a high willingness to perform in a multicultural organisation. This study is a first at the national level because the links between IC and CQ levels have not been the subject of an experimental analysis before.
- JEL Classification: M54
- Keywords: cultural intelligence; intercultural communication; interpersonal relations in multicultural organisations
- DOI: 10.24818/mer/2023.06-07
Continuous Learning: The Solution to Stay on Digital Labour Market
- Page: 237
- Authors: Carmen-Elena BĂNESCU, Emilia ȚIȚAN, Daniela Ioana MANEA
- Abstract: The labour market is constantly changing due to the development of technology. Technology is expanding as the need for data processing, analysis, and use increases. Technology not only becomes more skilled than man, but also urges him to live faster. Technology makes economic processes easier and faster. The human resource will assume the role of orchestrator of technology, but in order to do so, it must be available to learn permanently. The case study will focus on describing the main benefits of continuous learning for the workforce. For employees, the accumulation of new knowledge gives them the opportunity to improve their skills. For the unemployed, continuous learning gives them the opportunity to get hired. Therefore, we will identify whether employees are more interested in continuous learning. Additionally, we will identify whether the occupation that employees have influences the rate of participation in continuous learning. As the labour market is placed in the context of industrialisation 4.0, it is necessary to talk about continuous learning in the direction of digitalisation. In the digital economy, it is important that the workforce has at least a basic knowledge of technology in order to keep their job. Technological unemployment occurs precisely because the human resource is exceeded by the new demands of the workplace. Thus, we will identify the level of digitisation at the European level but also the way in which the population has acquired digital skills. We will also highlight the fact that the share of people with ICT skills and knowledge is higher in the case of employees than in the case of the unemployed. The purpose of the paper is to present comparatively the benefits that continuous learning has for both a person who already has a job and a person without a job, but also the impact that the industrial revolution 4.0 has on continuous learning.
- JEL Classification: I25, J24, J62, J82
- Keywords: continuous learning, lifelong learning, digitalisation, labour market
- DOI: 10.24818/mer/2023.06-08
Tackling Climate Risks: Current Strategies for Monitoring and Preventing Climate Hazards
- Page: 246
- Authors: Andra-Nicoleta MECU, Florentina CHIȚU, Liviu-Andrei TOADER, Georgiana Ionela MARIN
- Abstract: The Paris Agreement’s signatories submitted in 2021 their updated climate action targets and commitments, known as Nationally Determined Contributions (NDCs). These goals
encompass the efforts that countries will make in the next few years to reduce emissions and
improve resilience. Meteorological and climatic products are a significant tool in climate risk
management and adaptation to climate variability. In order to build resilience for sustainable
development, both climate change and extreme weather occurrences must be incorporated
into risk assessments. The goal of this research is to highlight the key approaches used by the
world’s major countries for monitoring and preventing climate hazards. Furthermore, the
main actions implemented by Romania are taken into account. We will also explore a
potential link between climate risks in the context of online commerce and the redefinition of
global business models. - JEL Classification: L81, Q01, Q54, Q56
- Keywords: Climate Change, Climate Risks, Sustainable Development, Sustainable
ecommerce - DOI: 10.24818/mer/2023.06-09