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Keywords = Visegrad Group

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15 pages, 257 KiB  
Article
The Use of Biomass in the Visegrad Group Countries and Its Determinants
by Piotr Kułyk and Mariola Michałowska
Energies 2025, 18(14), 3684; https://doi.org/10.3390/en18143684 - 12 Jul 2025
Viewed by 280
Abstract
This article aims to assess the conditions and prospects for biomass utilization in the Visegrad Group (V4) countries. Additionally, the relationship between biomass energy production and greenhouse gas emissions was examined. A key component of the analysis involved identifying potential directions for the [...] Read more.
This article aims to assess the conditions and prospects for biomass utilization in the Visegrad Group (V4) countries. Additionally, the relationship between biomass energy production and greenhouse gas emissions was examined. A key component of the analysis involved identifying potential directions for the development of biomass utilization in the pursuit of the sustainable development of agricultural enterprises. In relation to these research objectives, a hypothesis was formulated regarding the causal relationship between biomass energy consumption and economic growth, the abundance of natural resources, and income in reference to the European Union economies. Both static and dynamic panel studies were applied. The conducted research revealed the complex nature of the conditions influencing biomass utilization. The study period covered the years 2004–2022. A negative correlation was found between the use of biomass and greenhouse gas emissions. At the same time, factors favoring biomass utilization included economic growth, the level of natural resource consumption per capita, and government policies aimed at increasing the share of renewable resources in the economy. Full article
(This article belongs to the Section B: Energy and Environment)
19 pages, 3526 KiB  
Article
Is Organic Food Consumption Associated with Other Sustainable Food-Related Behaviors? Insights from a Survey in the Capital City of Poland
by Rita Góralska-Walczak, Lilliana Stefanovic, Renata Kazimierczak, Klaudia Kopczyńska, Lea Ellen Matthiessen, Carola Strassner, Benedetta Peronti, Patrizia Pugliese, Hamid El Bilali, Youssef Aboussaleh and Dominika Średnicka-Tober
Nutrients 2025, 17(13), 2113; https://doi.org/10.3390/nu17132113 - 25 Jun 2025
Viewed by 1070
Abstract
Background: The current food system is unsustainable, making it essential to address the issue globally through adequate policies and sustainable development goals. The European Union aims to dedicate 25% of farmland to organic farming by 2030 to promote sustainable practices. Warsaw is [...] Read more.
Background: The current food system is unsustainable, making it essential to address the issue globally through adequate policies and sustainable development goals. The European Union aims to dedicate 25% of farmland to organic farming by 2030 to promote sustainable practices. Warsaw is the first Polish city working on an urban sustainable food policy; however, there is limited data on the sustainable food system (SFS) and organic sector available. Objectives: This research examines whether consumers in Warsaw who prefer organic food also display other sustainable characteristics and awareness, reflected in their food choices, dietary habits, and other food-related behaviors. Methods: A household survey (HHS) was conducted as part of the SysOrg project, focusing on evaluating the sustainability of food systems in Warsaw in the areas of diet and organic food. The clusters of respondents, grouped by the self-declared proportion of organic foods in their diets, were analyzed and compared, and in addition, correlation analyses of the share of organic food in diets and other sustainability parameters were performed. Results: The study of 449 respondents indicates that Warsaw is at an early stage of the organic transformation, with the largest group of respondents declaring a 1–10% share of organic products in their diet. There were significant differences in dietary choices, sustainability awareness, and food selection habits and motivations among various consumer groups depending on their organic food share. Conclusions: Overall, this study’s findings highlight a link between organic food consumption and certain sustainable behaviors, suggesting potential for organic consumers’ contribution to a sustainable transformation. The study offers valuable insights into the existing knowledge gap regarding the behaviors of organic and sustainable consumers in Warsaw. Furthermore, despite the non-random nature of the sample limiting the generalizability of findings, it serves as a preliminary resource for other European cities that are formulating food policies and incorporating Green Public Procurement (GPP) into their procurement processes, especially for municipalities within the Visegrad Group. Full article
(This article belongs to the Special Issue Transition towards Sustainable Healthy Diets: A Complex Journey)
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26 pages, 7032 KiB  
Article
An Examination of the Evolution of Green Industry Structure and Sustainable Cooperation Strategies Between China and the Visegrád Group: A Product Space Approach
by Liping Qiu, Qianxue Chen, Xinzhe Zhu, Lihua Yang and Wenbo Gu
Systems 2025, 13(7), 508; https://doi.org/10.3390/systems13070508 - 24 Jun 2025
Viewed by 420
Abstract
The Visegrád Group (V4), as China’s key economic and trade partner in Central and Eastern Europe, plays a pivotal role in enhancing the effectiveness of sustainable development within the China-Central and Eastern Europe cooperation (China-CEEC) framework through its comprehensive green initiatives. This study [...] Read more.
The Visegrád Group (V4), as China’s key economic and trade partner in Central and Eastern Europe, plays a pivotal role in enhancing the effectiveness of sustainable development within the China-Central and Eastern Europe cooperation (China-CEEC) framework through its comprehensive green initiatives. This study analyzes export data and environmental product classifications from major countries in the CEPII-BACI database, covering the period from 2003 to 2022, to construct a green product space network. The analysis reveals the evolutionary patterns of the green industry and the collaborative transformation mechanisms between China and the V4 countries. The findings indicate the following: (1) The green product space network displays a “core-periphery” structural framework, wherein China has expanded its core product offerings by leveraging technological advancements in the photovoltaic sector, while the V4 countries enhance their resource allocation by systematically phasing out peripheral products. (2) The Green Complexity Index (GCI) suggests that China’s green production capacity has significantly improved, thereby narrowing the technological gap with Poland and Slovakia. (3) According to the Green Competition Index, a strategic complementary space exists between the two parties in the domain of medium- to high-complexity products. This study recommends extending green cooperation to higher value chain segments by establishing a collaborative innovation network for green technologies, developing a dynamic capacity optimization mechanism, and deepening the joint research and development of core products. This article offers a decision-making framework based on production capacity endowments to facilitate multinational collaborative transformations in the green industry. Full article
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28 pages, 1368 KiB  
Article
Predictive Maintenance Algorithms, Artificial Intelligence Digital Twin Technologies, and Internet of Robotic Things in Big Data-Driven Industry 4.0 Manufacturing Systems
by Marek Nagy, Marcel Figura, Katarina Valaskova and George Lăzăroiu
Mathematics 2025, 13(6), 981; https://doi.org/10.3390/math13060981 - 17 Mar 2025
Cited by 9 | Viewed by 6116
Abstract
In Industry 4.0, predictive maintenance (PdM) is key to optimising production processes. While its popularity among companies grows, most studies highlight theoretical benefits, with few providing empirical evidence on its economic impact. This study aims to fill this gap by quantifying the economic [...] Read more.
In Industry 4.0, predictive maintenance (PdM) is key to optimising production processes. While its popularity among companies grows, most studies highlight theoretical benefits, with few providing empirical evidence on its economic impact. This study aims to fill this gap by quantifying the economic performance of manufacturing companies in the Visegrad Group countries through PdM algorithms. The purpose of our research is to assess whether these companies generate higher operational profits and lower sales costs. Using descriptive statistics, non-parametric tests, the Hodges–Lehmann median difference estimate, and linear regression, the authors analysed data of 1094 enterprises. Results show that PdM significantly improves economic performance, with variations based on geographic scope. Regression analysis confirmed PdM as an essential predictor of performance, even after considering factors like company size, legal structure, and geographic scope. Enterprises with more effective cost management and lower net sales were more likely to adopt PdM, as revealed by decision tree analysis. Our findings provide empirical evidence of the economic benefits of PdM algorithms and highlight their potential to enhance competitiveness, offering a valuable foundation for business managers to make informed investment decisions and encouraging further research in other industries. Full article
(This article belongs to the Special Issue Artificial Intelligence and Algorithms with Their Applications)
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29 pages, 1698 KiB  
Article
Sustainability Transition in the Visegrád Group: Shared Goals, Different Paths
by Piotr M. Bolibok, Bartłomiej Zinczuk and Anna Matras-Bolibok
Sustainability 2025, 17(5), 1951; https://doi.org/10.3390/su17051951 - 25 Feb 2025
Cited by 1 | Viewed by 818
Abstract
This paper aims to investigate the sustainability performance trajectories of the Visegrád Group (V4) countries since their accession to the European Union. Given their shared historical, geopolitical, and socio-economic backgrounds, this study explores common evolutionary patterns and convergence within the sustainable development goal [...] Read more.
This paper aims to investigate the sustainability performance trajectories of the Visegrád Group (V4) countries since their accession to the European Union. Given their shared historical, geopolitical, and socio-economic backgrounds, this study explores common evolutionary patterns and convergence within the sustainable development goal framework. This research employs the Kml3D non-parametric clustering algorithm and standard beta and sigma convergence tests. The analysis covers the 2004–2023 data sourced from the European Sustainable Development Report 2023/24 by the Sustainable Development Solutions Network. The findings demonstrate that while each country follows a distinct path, Czechia and Slovakia exhibit notable similarities in the evolution of individual sustainability dimensions. This underscores the influence of path dependence, institutional inertia, and cross-border policy coordination in sustainable development. The results also suggest that although the V4 countries generally converge in socio-economic and infrastructural dimensions of sustainability, divergence persists in education, gender equality, nature preservation, and institutional performance. Full article
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20 pages, 573 KiB  
Review
Enhancing Precision Agriculture for Climate Change Mitigation in Visegrad Countries: Factors Shaping Adaptation
by Bojana Petrovic and László Csambalik
Land 2025, 14(2), 399; https://doi.org/10.3390/land14020399 - 14 Feb 2025
Viewed by 1633
Abstract
As climate change intensifies, organic agriculture faces new challenges in maintaining sustainability and environmental health. Precision agriculture offers climate-smart solutions by enabling resource efficient and data-driven farming. However, the adoption of precision agriculture technologies (PATs) is influenced by various socio-economic factors, behavioral factors, [...] Read more.
As climate change intensifies, organic agriculture faces new challenges in maintaining sustainability and environmental health. Precision agriculture offers climate-smart solutions by enabling resource efficient and data-driven farming. However, the adoption of precision agriculture technologies (PATs) is influenced by various socio-economic factors, behavioral factors, financial factors, institutional factors and technological factors. Adaptation factors for precision agriculture technologies and their application in response to climate change were identified through a systematic literature review (SLR) of 58 papers from journals indexed in Scopus and Web of Science. The investigation was performed for the Visegrad group countries: Czechia, Slovakia, Poland, and Hungary. Some of these technologies include satellite imaging, remote sensing, soil moisture sensors, and precision irrigation systems, which enable more efficient use of water, fertilizers, and energy. Through a comparative analysis of the application of precision agriculture technologies in the V4 countries, this review underscores the importance of tailored PA approaches to address a specific climate challenge and promote sustainable agricultural practices in the V4 countries. Full article
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21 pages, 972 KiB  
Article
Factors Determining Buying Behavior on the Organic Food Market in the Visegrad Group Countries—Using Canonical Correlation Analysis
by Julia Wojciechowska-Solis, Magdalena Śmiglak-Krajewska, Joanna Smoluk-Sikorska, Mariusz Malinowski, Paulína Krnáčová, Malgorzata Agnieszka Jarossová and Gyöngyi Györéné Kis
Sustainability 2025, 17(2), 672; https://doi.org/10.3390/su17020672 - 16 Jan 2025
Viewed by 1353
Abstract
Consumers are increasingly seeking ecological, organic, minimally processed food from certified organic farms. Consumer purchasing decisions in the organic food market are determined by various factors. The main objective of the article is to identify the range and direction of multidimensional relationships between [...] Read more.
Consumers are increasingly seeking ecological, organic, minimally processed food from certified organic farms. Consumer purchasing decisions in the organic food market are determined by various factors. The main objective of the article is to identify the range and direction of multidimensional relationships between the frequency of purchasing organic food and the factors that determine purchasing decisions. For this purpose, a canonical analysis was performed. Statistical data were obtained from survey research conducted in Poland, Czechia, Slovakia, and Hungary (600 questionnaires filled in each country) from December 2023 to March 2024. Research shows that the key factor that influences purchasing decisions with respect to organic food is its high quality. In countries such as Poland, Czechia, and Slovakia, this feature received the highest percentage of indications as very important, 53%, 44%, and 54%, respectively. In the second place, respondents indicated production without agricultural chemicals and food additives (in Hungary, this factor was considered the most important, with a percentage of indications at the level of 77%). In all the countries of the Visegrad Group, the influence of famous people, celebrities, and bloggers seems to be the least important—40.7% of respondents in Slovakia considered them completely unimportant, and as many as 73% in Hungary. Fashion was similarly rated low. In the case of this factor, the percentage of indications as unimportant ranged from 31% (Slovakia) to 76% (Hungary). Full article
(This article belongs to the Special Issue Sustainable Consumer Behaviour and Food Choice)
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18 pages, 1005 KiB  
Review
Preconceptional and Periconceptional Folic Acid Supplementation in the Visegrad Group Countries for the Prevention of Neural Tube Defects
by Vanda Rísová, Rami Saade, Vladimír Jakuš, Lívia Gajdošová, Ivan Varga and Jozef Záhumenský
Nutrients 2025, 17(1), 126; https://doi.org/10.3390/nu17010126 - 31 Dec 2024
Cited by 4 | Viewed by 2752
Abstract
Neural tube defects (NTDs) are malformations of the central nervous system that represent the second most common cause of congenital morbidity and mortality, following cardiovascular abnormalities. Maternal nutrition, particularly folic acid, a B vitamin, is crucial in the etiology of NTDs. FA plays [...] Read more.
Neural tube defects (NTDs) are malformations of the central nervous system that represent the second most common cause of congenital morbidity and mortality, following cardiovascular abnormalities. Maternal nutrition, particularly folic acid, a B vitamin, is crucial in the etiology of NTDs. FA plays a key role in DNA methylation, synthesis, and repair, acting as a cofactor in one-carbon transfer reactions essential for neural tube development. Randomized trials have shown that FA supplementation during preconceptional and periconceptional periods reduces the incidence of NTDs by nearly 80%. Consequently, it is recommended that all women of reproductive age take 400 µg of FA daily. Many countries have introduced FA fortification of staple foods to prevent NTDs, addressing the high rate of unplanned pregnancies. These policies have increased FA intake and decreased NTD incidence. Although the precise mechanisms by which FA protects against NTDs remain unclear, compelling evidence supports its efficacy in preventing most NTDs, leading to national recommendations for FA supplementation in women. This review focuses on preconceptional and periconceptional FA supplementation in the female population of the Visegrad Group countries (Slovakia, Czech Republic, Poland, and Hungary). Our findings emphasize the need for a comprehensive approach to NTDs, including FA supplementation programs, tailored counseling, and effective national-level policies. Full article
(This article belongs to the Section Nutritional Policies and Education for Health Promotion)
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25 pages, 1223 KiB  
Article
Understanding How Workplace Dynamics Affect the Psychological Well-Being of University Teachers
by Jakub Michulek, Lubica Gajanova, Lucia Sujanska and Eva Nahalkova Tesarova
Adm. Sci. 2024, 14(12), 336; https://doi.org/10.3390/admsci14120336 - 18 Dec 2024
Viewed by 2695
Abstract
Providing conducive working conditions is essential for fostering the personal and career growth of employees, ultimately ensuring their psychological well-being. This study aims to investigate the impact of workplace conditions on the psychological well-being of university teachers in Slovakia and to examine how [...] Read more.
Providing conducive working conditions is essential for fostering the personal and career growth of employees, ultimately ensuring their psychological well-being. This study aims to investigate the impact of workplace conditions on the psychological well-being of university teachers in Slovakia and to examine how factors from the Luxembourg Workplace Mobbing Scale (LWMS) function as moderators in this relationship. A questionnaire survey collected data from 687 respondents, and the analysis included reliability and moderation tests, with a one-way ANOVA confirming the model’s significance. The findings indicate that workplace conditions significantly affect the psychological well-being of university faculty, with LWMS factors—criticizing, ignoring, meaningless tasks, ridicule, and conflicts—moderating this relationship. A limitation of this research is the reliance on the LWMS, which comprehensively addresses bullying but encompasses only five factors. This study contributes to the understanding of workplace bullying and its impact in academic settings, offering implications for theory and practice in fostering healthier work environments in higher education. Full article
(This article belongs to the Section Organizational Behavior)
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23 pages, 988 KiB  
Article
Households Vulnerable to Energy Poverty in the Visegrad Group Countries: An Analysis of Socio-Economic Factors Using a Machine Learning Approach
by Urszula Grzybowska, Agnieszka Wojewódzka-Wiewiórska, Gintarė Vaznonienė and Hanna Dudek
Energies 2024, 17(24), 6310; https://doi.org/10.3390/en17246310 - 14 Dec 2024
Cited by 4 | Viewed by 812
Abstract
Research on household energy poverty is crucial for addressing basic human needs, highlighting the importance of conducting studies across different countries. This study examines energy poverty in the Visegrad Group countries using 2022 data from the EU Statistics on Income and Living Conditions [...] Read more.
Research on household energy poverty is crucial for addressing basic human needs, highlighting the importance of conducting studies across different countries. This study examines energy poverty in the Visegrad Group countries using 2022 data from the EU Statistics on Income and Living Conditions survey, with the ‘inability to keep the home warm’ indicator as a measure. The study aims to identify socio-economic factors influencing energy poverty and examine how their impacts differ across the examined countries. Logistic regression, combined with machine learning techniques, was applied for this purpose. Furthermore, the study evaluates the classification results of logistic regression and three machine learning methods—CatBoost, Balanced Random Forests, and Extreme Gradient Boosting—on imbalanced data. It was found that, among the three machine learning methods used, Balanced Random Forests performed the weakest. Logistic regression, effective for our imbalanced data, complements the results and provides deeper insights into the socio-economic factors influencing energy poverty. The study found that Slovakia had the highest percentage of households vulnerable to energy poverty, while Czechia had the lowest. Income, household type, and the presence of disabled individuals were found to be important across all countries. However, other factors varied in their influence from one country to another, highlighting the need for country-specific analyses. Monitoring households’ exposure to energy poverty is a challenge for future social policy and the use of different methods provides an in-depth view of this complex issue. Full article
(This article belongs to the Section C: Energy Economics and Policy)
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28 pages, 854 KiB  
Article
Comparative Analysis of Business Environment Dynamics in Central and Eastern Europe: A Multi-Criteria Approach
by Dominika Gajdosikova and Simona Vojtekova
Economies 2024, 12(12), 320; https://doi.org/10.3390/economies12120320 - 26 Nov 2024
Cited by 2 | Viewed by 2511
Abstract
The COVID-19 pandemic has negatively impacted the world economy and global society. However, small- and medium-sized enterprises are among the most vulnerable and affected groups of businesses, and in some cases, life-saving interventions have resulted in serious existential implications. The difficulties of insufficient [...] Read more.
The COVID-19 pandemic has negatively impacted the world economy and global society. However, small- and medium-sized enterprises are among the most vulnerable and affected groups of businesses, and in some cases, life-saving interventions have resulted in serious existential implications. The difficulties of insufficient demand, non-negligible fixed costs, and inadequate financing are unsustainable for many firms. Thus, the main aim of this study is to evaluate the variables influencing business activities, apply macroeconomic variables to compare the business environments in fifteen European countries, and utilize appropriate statistical techniques to confirm the results. Significant differences exist in the business climate across selected European countries, as identified by the TOPSIS method, CPI, and GCI. Low levels of corruption, strong economic stability, and high competitiveness make countries like Germany and Austria attractive for business environments. Estonia is also a leader in technological innovation and low corruption. Conversely, Bulgaria and Romania are struggling with higher levels of corruption and reduced competitiveness, potentially impeding business endeavours. The Visegrad Group countries are in the middle of the spectrum, scoring average to good but with opportunities for improvement in corruption and innovation. Overall, the business climate in these countries is diverse, reflecting their unique economic, political, and social circumstances. Full article
(This article belongs to the Special Issue Economics after the COVID-19)
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28 pages, 3935 KiB  
Article
Effects of Social and Economic Development on CO2 Emissions in the Countries of the Visegrad Group
by Irena Łącka, Błażej Suproń and Roman Śmietański
Energies 2024, 17(23), 5909; https://doi.org/10.3390/en17235909 - 25 Nov 2024
Cited by 2 | Viewed by 1194
Abstract
The aim of this study is to assess the impact of socio-economic development, consumption of renewable energy, educational spending, and foreign direct investment on carbon dioxide emissions in the Visegrad countries (Czech Republic, Hungary, Poland, and Slovakia) between 1991 and 2021. The study [...] Read more.
The aim of this study is to assess the impact of socio-economic development, consumption of renewable energy, educational spending, and foreign direct investment on carbon dioxide emissions in the Visegrad countries (Czech Republic, Hungary, Poland, and Slovakia) between 1991 and 2021. The study employed the Autoregressive-Distributed Lag Bound Testing model and Toda–Yamamoto causality tests to establish short- and long-term relationships for each of the dependent variables and countries, aiming to verify the hypotheses. For the Czech Republic and Slovakia, a bidirectional relationship was identified between carbon emissions and the Human Development Index (HDI). In Poland, bidirectional causality was indicated between renewable energy consumption and carbon dioxide emissions. Unidirectional causality was evident for the Czech Republic, Hungary, and Slovakia between the specified variables. Short-term findings indicate that an increase in renewable energy production may lead to higher carbon dioxide emissions in the Visegrad countries. In the long term, only Slovakia demonstrates a significant relationship between educational spending and reduced carbon emissions. Toda–Yamamoto tests reveal unidirectional causality between foreign direct investment and carbon dioxide emissions for the Czech Republic and Slovakia. Empirical findings suggest that policymakers should invest in socio-economic development and renewable energy to reduce CO2 emissions and achieve long-term sustainability in the Visegrad countries. Poland needs to shift its energy policy away from coal, and all countries should enhance education to effectively transmit environmental knowledge and values. Full article
(This article belongs to the Section C: Energy Economics and Policy)
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14 pages, 2486 KiB  
Article
Environmental Efficiency of Agriculture in Visegrád Group Countries vs. the EU and the World
by Arkadiusz Sadowski, Natalia Genstwa-Namysł, Jagoda Zmyślona and Luboš Smutka
Agriculture 2024, 14(11), 2073; https://doi.org/10.3390/agriculture14112073 - 18 Nov 2024
Cited by 1 | Viewed by 1053
Abstract
The production of foodstuffs for an ever-increasing population is the basic, irreducible and unalienable function of agriculture. It involves environmental impacts, including greenhouse gas emissions. This is what makes it so important to examine the levels of environmental efficiency of agriculture. As countries [...] Read more.
The production of foodstuffs for an ever-increasing population is the basic, irreducible and unalienable function of agriculture. It involves environmental impacts, including greenhouse gas emissions. This is what makes it so important to examine the levels of environmental efficiency of agriculture. As countries differ in their emission levels, it is reasonable to look for what determines them. Hence, the purpose of this study was to identify the changes in the environmental efficiency of agriculture in Visegrád Group countries and worldwide in 1961–2020. These countries share a similar economic history and demonstrate comparable environmental and geographic conditions, making it possible to pinpoint the factors responsible for how the parameters covered by the study change over time. The research used data from the FAOSTAT database. Environmental efficiency of agriculture was defined as the relationship between production volumes in kilocalories and emissions. Initially, this parameter deteriorated in the Visegrád countries, but since the late 1970s it has improved, first linked to the crisis of the socialist economy and its collapse (including a drastic decline in livestock production) and then to the implementation of CAP instruments. Full article
(This article belongs to the Section Agricultural Economics, Policies and Rural Management)
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18 pages, 1254 KiB  
Article
Effect of Selected Determinants on the Sustainability of SMEs: Does Gender Matter?
by Jan Dvorsky, Katarina Frajtova-Michalikova and Katarina Zvarikova
Adm. Sci. 2024, 14(11), 281; https://doi.org/10.3390/admsci14110281 - 1 Nov 2024
Cited by 2 | Viewed by 1520
Abstract
The paper aims to find disparities in the perception of sustainability-related criteria’s impact on the sustainability of the SMEs in the countries of the V4 based on gender. The case study was conducted on 1398 responses from owners or top managers in Visegrad [...] Read more.
The paper aims to find disparities in the perception of sustainability-related criteria’s impact on the sustainability of the SMEs in the countries of the V4 based on gender. The case study was conducted on 1398 responses from owners or top managers in Visegrad Group countries (V4). The questionnaire contained 52 questions. Data collection was conducted by an external agency using the CAWI methodology. The statistical hypotheses were verified by applying structural equation modelling (SEM method). The empirical findings are important for many authors and researchers. The environmental aspect of entrepreneurship is the most important factor, having a strong positive impact on the sustainability of SMEs. This includes active involvement in environmental protection, environmental responsibility as a part of SME governance, and the perception of owners regarding the environment in firm management. Gender disparities are important in evaluating financial management, the level of digitalisation in a firm, human resource management, and business ethics, and their effect on the sustainability of SMEs. Full article
(This article belongs to the Special Issue Research on Female Entrepreneurship and Diversity)
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21 pages, 636 KiB  
Article
Sherlock Holmes Between Homogeneity Tests: Detection Power Based on Profitability Ratios in the V4 Region
by Pavol Durana, Roman Blazek and Erika Kovalova
Stats 2024, 7(4), 1333-1353; https://doi.org/10.3390/stats7040077 - 31 Oct 2024
Cited by 1 | Viewed by 866
Abstract
Profitability reveals the key financial ratios that ensure the long-term sustainability of an enterprise’s ability to invest in further growth. Without knowledge of the course of development, particularly changes in profitability, enterprises face financial difficulties that threaten their existence. Although the homogeneity tests [...] Read more.
Profitability reveals the key financial ratios that ensure the long-term sustainability of an enterprise’s ability to invest in further growth. Without knowledge of the course of development, particularly changes in profitability, enterprises face financial difficulties that threaten their existence. Although the homogeneity tests serve as a reliable tool for identifying changes, their application in financial management often receives insufficient attention. The aim of this research is to evaluate the detection power of homogeneity tests and identify the one with the highest ability based on testing changes in the development of profitability ratios across sectors in the Visegrad Four. Buishand’s test, Pettitt’s test, the SNHT, and the von Neumann test were run for 8671 enterprises during 2016–2021 and gained from Moody’s Orbis. Comparison tables for ROA, ROC, ROE, ROS, ROR, and ROW using Monte Carlo simulation with a million replications identified the number of Slovak, Czech, Polish, and Hungarian enterprises in which heterogeneity was divided according to the Nomenclature of Economic Activities, NACE. The SNHT disclosed the greatest number of changes in the development of all profitability ratios. The results validate the use of selected tests for ratio assessment. Furthermore, business agencies may replicate this approach to determine the economic situation and sector performance. Full article
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