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        <title>Folia Oeconomica Stetinensia Feed</title>
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            <title><![CDATA[Determinants of FDI in Tanzania Based on Gravity Model Results]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2026-0011</link>
            <guid isPermaLink="false">/article/10.2478/foli-2026-0011</guid>
            <pubDate>Mon, 29 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundForeign direct investment (FDI) is an important factor supporting the development of Tanzania’s economy. Foreign capital in Tanzania is crucial primarily for the development of transport, telecommunications and energy infrastructure. The factors attracting foreign investors and the factors limiting the inflow of capital are not fully recognized, and research in this area requires updating.PurposeIdentification of factors favoring the inflow of FDI to Tanzania and factors that hinder this inflow.Research methodologyGravity model for FDI in Tanzania estimated for panel data using FE and RE estimators.ResultsTanzania’s GDP and imports stimulate the inflow of FDI, while exports and the distance between the host country and source country limit the inflow of FDI. The common border, common language and historical colonial ties between Tanzania and the investor countries did not significantly affect FDI in this country.NoveltyUpdating research showing the impact of macroeconomic variables on the inflow of FDI to Tanzania using the gravity model, formulating current recommendations for decision-makers responsible for the country’s economic development.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Investigating Economy Growth, Renewable Energy, Human Capital and Environmental Technology Interaction in CO2 Emissions in Heterogeneous Emerging Economies]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2026-0009</link>
            <guid isPermaLink="false">/article/10.2478/foli-2026-0009</guid>
            <pubDate>Mon, 29 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundCO2 emissions are a major driver of climate change, especially in heterogeneous emerging countries.PurposeThis research investigates the impact of economic growth, financial development, renewable energy consumption, environment-related technology, and human capital on CO2 emissions in heterogeneous emerging countries.Research methodologyThe study analysed data from 1994 to 2019 across twelve heterogeneous emerging countries. Utilizing the Cross-Sectional Autoregressive Distributed Lags (CS-ARDL) econometric approach, the results indicated findings over both the short and long term. Robustness is tested using the Augmented Mean Group (AMG) and Common Correlated Effects Mean Group (CCEMG) estimators, while Dumitrescu-Hurlin causality examines the bidirectional relationships.ResultsThe results show that, in both the short and long term: (1) economic growth increases CO2 emissions, (2) renewable energy use reduces emissions, and (3) the interaction of human capital and environmental technology lowers emissions. Further, the Dumitrescu-Hurlin causality tests show a bidirectional relationship between CO2 emissions, economic growth, financial development, and human capital.NoveltyThis study provides policy recommendations to foster sustainable development and reduce CO2 emissions, specifically in heterogeneous emerging countries.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Assessment of the Impact of Technological Innovations on Managerial Productivity in Developing Countries: Evidence From Kosovo]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2026-0003</link>
            <guid isPermaLink="false">/article/10.2478/foli-2026-0003</guid>
            <pubDate>Mon, 29 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundMicrofinance institutions (MFIs) play a critical role in providing financial services to underserved populations in developing countries. However, their sustainability and efficiency are increasingly reliant on managerial productivity, which is influenced by technological innovation. Despite growing interest in this area, limited empirical research exists on the specific impact of technological advancements on management efficiency in MFIs, particularly in developing contexts such as Kosovo. This study addresses this gap by exploring the relationship between technological innovation and managerial productivity in MFIs.PurposeThe study aims to investigate the extent to which technological innovation influences the productivity of managers in MFIs, focusing on developing countries, with Kosovo serving as a case study.Research methodologyA quantitative research methodology was adopted, utilizing correlation and regression analyses to examine the relationship between technological innovation and managerial productivity. Data were collected from 105 participants across 15 MFIs in Kosovo, focusing on variables such as product innovation, customer service, operational flexibility, and employee productivity.ResultsThe findings reveal a significant positive correlation between technological innovation and managerial productivity in MFIs. Factors such as product innovation, customer service, and operational flexibility emerged as key drivers of productivity growth, while operational processes and risk management exhibited a negative influence.NoveltyThis research contributes to the literature by providing empirical evidence on the impact of technological innovation on managerial productivity within MFIs in developing countries. The study offers actionable insights for stakeholders, emphasizing the critical role of innovation in enhancing operational efficiency and achieving sustainable growth in the microfinance sector.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Economic Growth in the USA: Econometric Model and Forecast]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2026-0010</link>
            <guid isPermaLink="false">/article/10.2478/foli-2026-0010</guid>
            <pubDate>Mon, 29 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundEconomic theory identifies many determinants of economic growth. The role of savings and budget deficits in stimulating growth remains a subject of controversy. This study provides a long-term analysis of the causes of economic growth using the most recent data for the world’s largest economy, while simultaneously examining the role of savings, budget deficits, and R&amp;D expenditures in economic growth.PurposeIdentification of the causes of economic growth and its forecast for the U.S. economy.Research methodologyData from the FRED database for the U.S. economy from 1960 to 2023 was used. A linear econometric model, the OLS method, and statistical tests were applied for the analysis. The forecast for the years 2024–2028 was conducted using the exponential smoothing ETS model and the constructed linear model.ResultsSavings, budget deficit reduction, and R&amp;D expenditures had a positive and significant impact on economic growth in the U.S. However, they were not the only determinants of economic growth. Based on an econometric forecast, it was found that the U.S. economy may experience a slowdown in economic growth between 2024 and 2028.NoveltyEmpirical confirmation of theoretical growth models where savings and technology determine economic growth, incorporating an analysis of current data. It challenges the claims about the negative impact of savings on economic growth and the positive effect of budget deficits on growth. Additionally, it allows for the future development of the research tool used in the study for future analyses, studies and forecast.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Potentials for the Development of Cultural and Creative Industry Projects Through EU Funds]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2026-0012</link>
            <guid isPermaLink="false">/article/10.2478/foli-2026-0012</guid>
            <pubDate>Mon, 29 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundThe cultural and creative industry (CCI) is vital for economic growth, social development, and tourism, offering unique experiences that highlight cultural heritage and contemporary creativity. Despite its importance, there is a research gap in the effective use of EU funding to support the CCI.PurposeThis study explores EU financing opportunities for the CCI, focusing on successful projects in Croatia, and aims to establish a research foundation for understanding the impact of these funds on the CCI across the EU. A key outcome is the proposal of a model to monitor CCI development in the EU through these funds.Research methodologyThe study employs a qualitative research methodology, utilizing a detailed exploratory approach to analyse EU funding opportunities for the CCI sector by examining the specific conditions required to secure these funds. Through a qualitative review, it assesses Croatian initiatives from various funding programs, providing an overview of their impacts on economic growth, cultural identity, and tourism.ResultsThe findings indicate that EU funds have significantly supported innovative and culturally significant initiatives in Croatia. Additionally, the study proposes a model for tracking CCI development and suggests expanding the research to include more projects and EU member states.NoveltyThis study adds value to existing knowledge by offering a comprehensive qualitative analysis of EU funding for the CCI and by presenting successful initiatives in Croatia. The proposed monitoring model should be tested, and the research expanded to cover a broader range of projects and member countries.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Socio-Demographic Profile of the Debt Holders of Older Populations in East and West European Regions]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2026-0007</link>
            <guid isPermaLink="false">/article/10.2478/foli-2026-0007</guid>
            <pubDate>Mon, 29 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundHousehold indebtedness has grown across Europe since the 2007–2008 financial crisis. Among adults aged 50 and over, consumer debt intersects with pension income, health, and housing wealth differently than for younger borrowers, yet comparative socio-demographic evidence across European regions remains scarce.PurposeThis study examines the socio-demographic profile of debt holders among older populations of East and West European regions, identifying factors that influence household debt decisions in these historically distinct contexts.Research methodologyUsing data from the 7th wave of the Survey of Health, Ageing and Retirement in Europe (SHARE), logistic regression models are estimated for both regions, covering age, gender, marital status, household size, education, economic activity, homeownership, net wealth, and risk aversion.ResultsYounger age, male gender, married status, higher education, and economic activity are positively associated with debt holding in both regions. Higher net wealth and home ownership are negatively related to debt, while risk aversion is unexpectedly positively associated with it. Western Europeans show lower odds of holding debt.NoveltyThe study offers an original contribution by systematically comparing socio-demographic determinants of older-age consumer debt between Eastern and Western Europe, filling a key gap in the household finance and ageing literature and revealing unexpected patterns in risk aversion and regional context.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[The Measure of Fit and Cut-Off Point for a Binomial Logit Model. an Overlooked Contribution of Jan Salomon Cramer]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2026-0004</link>
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            <pubDate>Mon, 29 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundThis paper revisits the contribution of Jan Salomon (Mars) Cramer (1928–2014) to binomial logit modelling. Cramer proposed both a novel measure of fit for binomial logit models and a cut-off point for binary classification, particularly suitable for unbalanced samples.PurposeTo present and demonstrate J.S. Cramer’s often-overlooked proposals for a new measure of fit and a cut-off point in binomial logit models. Additionally, the paper discusses the relevance of Cramer’s contributions in the current discourse on binomial logit modelling.Research methodologyThe study is based on a literature analysis aimed at establishing the current state of knowledge regarding J.S. Cramer’s contributions to binomial logit modelling, including the citation analysis using Scopus.ResultsWe highlight that the measure of fit proposed by Cramer in 1999, known as Cramer’s lambda, has gained recognition in the literature under a different name – Tjur’s D – introduced a decade later (2009). We also note that Cramer’s proposed cut-off point, alpha, is rarely cited as an alternative to more commonly referenced thresholds. These arguments are illustrated with a numerical example.NoveltyBoth of J.S. Cramer’s proposals remain relatively unknown today. We hope this paper contributes to re-establishing Mars Cramer’s legacy in econometrics. Cramer’s lambda and Cramer’s alpha deserve recognition and adoption as legitimate standards for binomial logit modelling.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Examining the Mediating Role of Work–Life Balance in the Relationship Between Work Stress and Positivity in the Turkish Construction Industry]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2026-0002</link>
            <guid isPermaLink="false">/article/10.2478/foli-2026-0002</guid>
            <pubDate>Mon, 29 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundConstruction sector employees live in difficult conditions and usually on construction sites. In this process, especially situations such as carelessness cause occupational accidents. In this respect, the research focuses on the work-life balance in the construction sector.PurposeThe study aimed to determine the mediating role of the work-life balance in the relationship between work stress and positivity.Research methodologyThe research, which tested the mediating effect of the work-life balance (WLB) on the effects of job stress (JS) on positivity (PO) perceived by construction workers in Turkey, was conducted with 389 participants. The research has a quantitative design, and the data were obtained through a survey method. After reliability, frequency, and correlation analyses, the data were subjected to regression analysis using the Process Macro Model 4 developed by Hayes, and the proposed hypotheses were tested.ResultsAccording to the analysis findings, it was determined that JS affects WLB and WLB affects PO positively and significantly. The total effect of JS on PO was not significant. However, when WLB was included in the model, the direct effect of JS on PO became significant, and the indirect effect through WLB was also significant. Finally, it was determined that the indirect effect of JS on PO was significant, thus WLB mediated the relationship between JS and PO. The fully standardized effect size of the detected mediation effect is close to the “high” value. Accordingly, it can be concluded that WLB has a significant impact on construction workers’ tendency towards PO by reducing JS.NoveltySince the proposed research model has not previously been examined in the construction industry, this study addresses an important gap in the literature. By investigating the mediating role of work–life balance in the relationship between job stress and positivity among construction workers, the study provides novel evidence and contributes to a better understanding of employee well-being in this sector.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[The Effect of Phantasy on Fantasy and Risky Investment Intention: Mediating the Role of Positive and Negative Emotions]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2026-0005</link>
            <guid isPermaLink="false">/article/10.2478/foli-2026-0005</guid>
            <pubDate>Mon, 29 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundIt is a psychologically difficult and corrosive process for investors to make decisions in financial markets where uncertainty prevails. Uncertainty triggers different emotions such as fear, anxiety and hope in investors. For this reason, trading in financial markets requires controlling emotions.PurposeIn this study, the mediating role of positive and negative emotions in the effect of phantasy on both fantasy and risky investment intention was investigated.Research methodologyThe pilot data of the study consists of 204 participants and the original data consists of 831 participants. The data were collected from Turkey with convenience sampling using an online questionnaire. The fantasy variable was developed within the scope of this study. Accordingly, an exploratory factor analysis was performed for this variable. A confirmatory factor analysis was performed for other variables, and finally, the research model was tested with structural equation modeling (SEM).ResultsAccording to the findings, it was seen that phantasy positively affects risky investment intention and fantasy. Considering the mediation effects, there was partially a mediating effect of positive emotions on the effect of phantasy on risky investment intention, while the mediating effect of negative emotions was not found. It was also found that both positive and negative emotions have a partial mediating effect on the effect of phantasy on fantasy.NoveltyThe effect of emotions on the decision-making process was reported by some researchers in the past. In this study, conscious and unconscious processes were included in the model as well as emotions, thus expanding the scope and providing a better understanding of investors’ decision-making processes. In addition, the newly developed fantasy scale will also make a significant contribution to the literature.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[The Impact of Selected Macroeconomic Variables on Inflation Rates in Indonesia Under the Inflation Targeting Framework Policy]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2026-0001</link>
            <guid isPermaLink="false">/article/10.2478/foli-2026-0001</guid>
            <pubDate>Mon, 29 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundThe implementation of the Inflation Targeting Framework (ITF) in Indonesia in 2005 raises important questions about the extent to what extent the impact of the ITF can influence macroeconomic indicators, for instance, interest rates, exchange rates, and GDP growth, on inflation rates in Indonesia in the short term and long term.PurposeThis research investigates the influence of interest rates, exchange rates, and GDP growth on the inflation rate in Indonesia under the ITF policy.Research methodologyThis research uses time series data from 2005 Q3 to 2023 Q3 and is analysed using the Error Correction Model (ECM).ResultsOur findings show a positive and significant effect of interest rates on inflation in the short term, but a positive and non-significant effect in the long term. Next, the exchange rate positively and significantly influences inflation in Indonesia in the long term, but it positively influences inflation in the short term. Lastly, in the short term, GDP growth positively affects inflation in Indonesia, while in the long term, GDP growth negatively and significantly affects inflation.NoveltyThis research examines the effects of macroeconomic variables on inflation in Indonesia in the period after the implementation of the Inflation Targeting Framework policy.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Determinants of Alternative Financing Development in the European Union]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2026-0006</link>
            <guid isPermaLink="false">/article/10.2478/foli-2026-0006</guid>
            <pubDate>Mon, 29 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundDespite the growing significance of alternative finance (AF) in the European Union (EU), few studies have comprehensively analysed its drivers using recent panel data. Prior research often overlooks the combined impact of innovation, digitalisation, and regulatory conditions across the EU-27.PurposeThis paper aims to discern the determinants that contribute to the development of AF within the EU.Research methodologyThe study employs panel regression analysis based on 162 observations across 27 EU countries, using indicators such as GDP per capita, the Global Innovation Index (GII), the Digital Economy and Society Index (DESI), the Index of Economic Freedom (IEF), and R&amp;D expenditure. Model selection and robustness were ensured through the Breusch–Pagan LM test, the Hausman test, the Wooldridge test for autocorrelation, the Pesaran CD test for cross-sectional dependence, and the VIF for multicollinearity. K-means clustering was applied to identify countries with similar innovation and economic profiles.ResultsInnovation emerged as the strongest positive driver of AF, while GDP per capita had a limited positive influence. A negative relationship was found between AF and economic freedom, while digitalisation and R&amp;D showed no significant effect.NoveltyThe study offers novel empirical evidence on AF determinants using a validated econometric model, revealing innovation as a more important driver than traditional economic or regulatory variables in the context of the EU.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[Effective Communication Between Enterprises and Generation Z Consumers Via Social Media in the Light of Research Conducted in Poland and Great Britain]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2026-0008</link>
            <guid isPermaLink="false">/article/10.2478/foli-2026-0008</guid>
            <pubDate>Mon, 29 Jun 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundProviding Generation Z customers with information about products and services in the place and the way they expect may contribute to increasing their involvement in relations with an enterprise, which may have a positive impact on the purchasing decisions of Generation Z. Understanding the impact of customer gender and place of residence on the expected form of online communication is an opportunity for an enterprise to personalise the form of content communicated to them.PurposeThe purpose of the paper is to identify effective ways of communication between Generation Z and entrepreneurs via social media.Research methodologyThe research was conducted in 2023 among 322 students in Poland and 318 students in Great Britain. The CAWI surveying technique was used in the study and a survey questionnaire was used as the research tool. The number and frequency of responses from the respondents were determined. Statistical inference was used to identify correlations in the studied groups.ResultsThe paper is a theoretical and practical contribution to the discussion on effective ways of communication between enterprises and Generation Z via social media. The forms of communication via social media expected by Generation Z were indicated and the correlation between the selected form of communication and gender of the respondent was confirmed. The study findings are important for enterprises intending to develop effective communication with Generation Z customers.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Assessing the Relative Importance of Social and Professional Competencies for Career Advancement in Croatia]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2025-0032</link>
            <guid isPermaLink="false">/article/10.2478/foli-2025-0032</guid>
            <pubDate>Wed, 17 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundWhile there is existing research on the importance of employees’ social competencies, there is a need for further investigation into their specific impact on long-term employability and career advancement, especially in the context of different industries or cultural settings.PurposeTo evaluate and analyze the factors that contribute to career advancement in Croatia, with a specific focus on distinguishing between social competencies and professional competencies.Research methodologyA quantitative, cross-sectional, research approach was adopted, using a self-administrated questionnaire. The sample consisted of 113 HR or top management employees from all sectors. T-test, ANOVA and Cronbach’s alpha were utilized.ResultsThe results indicate that professional competencies are significantly more important for career advancement, but not for achieving long-term employability. Teamwork and Professional knowledge are equally important across all economic sectors. The results suggest that the opinions of top management and HR do not differ significantly regarding the assessment of the importance of individual competencies.NoveltyIt lies in its comparative analysis of social versus professional competencies specifically within the Croatian labor market, offering insights that are tailored to Croatia’s unique cultural and economic context. It provides original data and findings on how these competencies influence career advancement across different sectors, addressing a gap in existing research focused on Croatia.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[The Views of Poznań Students Regarding Limiting Meat Consumption]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2025-0025</link>
            <guid isPermaLink="false">/article/10.2478/foli-2025-0025</guid>
            <pubDate>Wed, 17 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundSustainable development encompasses both environmental and social issues. Due to the need to reduce greenhouse gas emissions, it will also be necessary to reduce the production and consumption of the most carbon-intensive products, which include meat.PurposeThe aim of this study is to investigate the attitudes of students attending Poznań universities towards limiting meat consumption.Research methodologyA survey was conducted in the form of an online questionnaire. A total of 873 respondents took part in the survey, including 575 (65.9%) women, 287 (32.9%) men and 11 (1.2%) others/did not wish to specify. Due to the overrepresentation of respondents from one of the universities, the results refer to the surveyed group and are not representative of students of Poznań. Correspondence Analysis (CA) was incorporated to enhance drawing conclusions from the obtained results and to visualize the relation between categorical variables.ResultsThe survey showed that surveyed students limit their meat consumption to a greater extent (56.8%) than the national average (39%). Based on the correspondence analysis it was concluded that the size of the town of origin was not crucial in this respect. On the other hand, when CA was conducted on University affiliation it revealed two strong relations-University of Art’s students tend to abstain from meat consumption while those studying at Technical University declare high meat consumption more frequently than the study population. Large gender differences could also be observed – among women, as many as 66.4% of respondents limited their meat consumption, while among men it was only 31.9%. The most important reasons for limiting meat consumption were concern for the environment (52.7%) and the desire to reduce animal suffering (49.0%).NoveltyMain novelty of the study encompasses surveying respondents on issues relating to both human health, the state of the environment and ethics, as well as taking into account their interests and predispositions, represented by their university choice.]]></description>
            <category>ARTICLE</category>
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            <title><![CDATA[Public Private Partnership and a Healthy Environment: Sustainable Development Goals Concern]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2025-0029</link>
            <guid isPermaLink="false">/article/10.2478/foli-2025-0029</guid>
            <pubDate>Wed, 17 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundThis study investigates the function of public-private partnerships in fostering a healthy environment in Lagos State, Nigeria. It examines the function of waste management agencies and the waste management structures, including landfills, in alleviating illegal waste disposal and health-related concerns. Therefore, emphasising a strategy for attaining Sustainable Development Goals (SDG), including SDG 3 (Good Health and Well-Being), SDG 6 (Clean Water and Sanitation), and SDG 15 (Life on Land) by policy reorientation.PurposeThe objective of this study is to emphasise waste management, since it is crucial for attaining specific Sustainable Development Goals (SDGs) that relate to public health.Research methodologyThis study utilises a cross-sectional survey design employing a quantitative methodology. Purposive sampling was employed to determine the study area, and 400 residents residing near the Olusosun landfill in Ojota were selected. Standardised questionnaires were used to gather data and distributed using random sampling. Out of 400 questionnaires distributed, 318 were correctly filled out and returned. The collected data were analysed using SPSS, with results presented and interpreted through descriptive and inferential statistics.ResultsThe findings demonstrate a positive and statistically significant effect of landfills on health issues. More so, imply that residents in the Ojota district of Lagos State associate health-related ailments with garbage exposure. Also, a positive and statistically significant effect of waste management agency on illegal dumping was identified. This indicates that residents perceive the deficiencies of the waste management agencies as leading to illegal dumping.NoveltyThis research alters the scarcity of literature on studies that integrate the variables proposed in this study.]]></description>
            <category>ARTICLE</category>
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            <title><![CDATA[Finance, Governance, and Renewable Energy Transitions in Sub-Saharan Africa: Testing the Energy Kuznets Curve]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2025-0034</link>
            <guid isPermaLink="false">/article/10.2478/foli-2025-0034</guid>
            <pubDate>Wed, 17 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[PurposeThis study explores how the interplay between financial sector development (FSD) and governance quality (GOVE) influences the adoption of modern renewable energy (MREN) in 11 sub-Saharan African (SSA) countries (1999–2023). It also tests the modern renewable energy-environmental Kuznets curve (MRENEKC) hypothesis, assessing the contribution of inclusive growth, urbanization, and trade openness in shaping the regions renewable energy transitions.Research methodologyEmploying a pooled mean group autoregressive distributed lag model, this study captures both short- and long-term dynamics, while accounting for cross-sectional dependence and regional heterogeneity. By focusing on the interactive roles of FSD and GOVE, the study contributes to the literature on sustainable energy development in emerging economies.ResultsThe results confirm the validity of the MRENEKC hypothesis, revealing a U-shaped relationship between income and MREN adoption. FSD and GOVE, significantly drive MREN adoption, though effects vary regionally. East/Southern Africa leveraged FSD effectively for geothermal and wind projects (Kenya, Tanzania), whereas West/Central Africa’s lax governance structure diminishes FSD’s influence. These results reveal the need for regionally tailored institutional and policy reforms that integrate financial infrastructure with institutional quality to accelerate renewable energy transitions.NoveltyThis study uniquely applies the Modern Renewable Energy-Environmental Kuznets Curve (MRENEKC) framework within the SSA context to offer a comprehensive analysis that links FSD and GOVE to MREN adoption. It fills a critical gap by assessing this underexplored dynamic, and provides actionable insights for policy targeting green growth, energy access, and institutional reform in SSA.]]></description>
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            <title><![CDATA[Behavioural Biases and Investment Decision Making: The Mediating Role of Risk Perception, according to Evidence from the Indian Stock Market]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2025-0031</link>
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            <pubDate>Wed, 17 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundThere is no research found till date that investigated the behavioural biases (“disposition effect, herding behaviour and blue-chip stocks”) and “risk perception on investment decision making” in the Indian stock market (National Stock Exchange) by applying Structured Equation Modelling.PurposeThe present study examines the connections between behavioural biases, investment decision making, and individual perspectives on risk (risk perception) in the Indian stock market. There are two exchanges in India but the National Stock Exchange (NSE) is used for the study.Research methodologyIn the study, the target population are the investors of the National Stock Exchange in India. The sample size of the study is 380 for the final analysis. Structured Equation Modelling (SEM) is applied to construct the model and provide standard estimates for the study by using AMOS software version 23.ResultsThe findings show that risk perception partially mediates the relationship between blue-chip stock preference and investment decisions, indicating that blue-chip investments may lower perceived risk and influence investor behaviour accordingly. Herding behaviour, the disposition effect, and investment decision making are all unrelated to risk perception.NoveltyTo begin with, the given study develops a mediating framework, elucidating the risk perception as a confounder between behavioural biases (overconfidence and herding) and investment decision-making which has been insufficiently explored in Indian empirical contexts. The available literature in the most part looks at these variables as secluded entities or as point predictors, not considering the inherent mentalizing frameworks that inform decisions. Secondly, the study draws on a unique and diverse sample of individual retail investors across multiple Indian cities, incorporating both Tier I and Tier II urban centres. This geographical diversity adds robustness and generalizability to the findings, which is often missing in studies limited to metro-focused or demographically narrow samples. Thirdly, the study presents a fine methodological design, where the Structural Equation Modelling (SEM) was utilized to ascertain the direct and indirect effects in a single continuum, thus providing a more subtilised picture of the relationships between behavioural constructs.]]></description>
            <category>ARTICLE</category>
        </item>
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            <title><![CDATA[The Impact of Influencer Marketing on the Behavior of Generation Z Consumers]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2025-0036</link>
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            <pubDate>Wed, 17 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundInfluencers create a powerful influence and attract a wide audience through their presence on social media. The impact of influencer marketing on the behavior of Generation Z consumers is extremely effective. Generation Z stands out for its digital skills and enormous engagement on social media.PurposeThe aim of this paper is to research how influencer marketing affects the attitudes, opinions and behavior of Generation Z in the context of consumption.Research methodologyThe main research tool was a questionnaire consisting of closed multiple-choice questions. Empirical research was conducted on a sample of 252 respondents. Descriptive statistical analysis and multivariate statistical analysis (multiple regression method) were used in the primary data analysis to determine the direction and strength of the correlation between the observed variables and to confirm differences in behavior.ResultsThe results indicate an extremely strong connection between influencers, social networks and the purchase decisions of Generation Z but influencers do not have the same influence on consumers of all generations.NoveltyThis paper contributes to the understanding of the correlation between influencers and the consumers of generation Z and indicate the factors that are crucial for the successful influencer marketing in the modern business environment.]]></description>
            <category>ARTICLE</category>
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            <title><![CDATA[Corporate Governance and Corporate Risk Management on Indonesian and Malaysian Banking Industry Performance during the COVID-19 Pandemic]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2025-0030</link>
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            <pubDate>Wed, 17 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundThe COVID-19 pandemic of 2020–2022 led to economic crises worldwide. Despite the financial risk, financial problems in each institution, banks still have a special task from governments to ease the crises. The risk is higher on countries that use a dual banking system.PurposeThis research is intended to test the effect of Corporate Governance (CG) and Corporate Risk Management (CRM) on Banks’ Performance during the pandemic in emerging country’s that used a dual banking system during the COVID-19 pandemic.Research methodologyThis quantitative analysis uses archival data. Samples were taken from banks listed on the Indonesian and the Malaysian Stock Exchange during 2020–2022. Data was then analysed using Partial Least Square regression.ResultsThe Indonesia data analysis results show that CRM mediates the relationship between CG effect on Performance. The Malaysia data analysis can conclude that CG affects firms’ performance. CG also affects CRM. Hence, CRM do not act as a mediating variable between CG and Performance. This result shows that the COVID-19 pandemic impacted Indonesia’s and Malaysia’s banking CG, CRM and industry performance. This is consistent with Compliance Theory.NoveltyThis research compares CG and CRM to the monetary conditions within dual banking systems in Indonesia and Malaysia due to the differences in monetary policy during the COVID-19 pandemic.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Use of the Topsis Method in Consumers’ Luxury Electric Vehicle Purchasing Decisions]]></title>
            <link>https://reference-global.com/article/10.2478/foli-2025-0026</link>
            <guid isPermaLink="false">/article/10.2478/foli-2025-0026</guid>
            <pubDate>Wed, 17 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[Research backgroundThe increasing variety of electric vehicles affects users’ electric vehicle purchasing pReferences.PurposeThe aim of this study is to determine the importance levels of the factors that affect consumer decisions in purchasing electric vehicles whose prices are above a certain lower limit and to rank the vehicles with the highest score.Research methodologyTOPSIS Method, one of the multi-criteria decision-making methods, was used in the study. In the study, six different selection criteria were determined: Range (km), Charging time (min), Price (euro), Acceleration (0–100 km/h acceleration), Torque (Nm), and Power (hp). These data were obtained from the information shared by the brands on their websites, using secondary data sources. User selection was achieved by determining a lower level in the price criterion in brand and model elimination. In the implementation of the study, vehicles with a lower price limit of over 5 million lira were taken into consideration. Four different brands that meet these criteria and are currently on sale in the Türkiye market have been identified. The models evaluated among these brands are the Mercedes EQS, Porsche Taycan, BMW iX, BMW i7, and Audi E-Tron.ResultsIn the selection made using the TOPSIS Method, the Mercedes EQS is in the first place in the automobile ranking, BMW iX is in the second place, BMW i7 is in the third place, Audi E-Tron is in the fourth place and Porsche Taycan is in the last place.NoveltyThe difference of this study from other studies is that luxury electric vehicles are included in the sample for the first time. In addition, charging times, torque and acceleration values have only been included in studies recently. Because in previous studies, criteria such as price, range and power were studied with different models and different classes of vehicles.]]></description>
            <category>ARTICLE</category>
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