Eurasian Business and Economics Perspectives: Proceedings of the 38th Eurasia Business and Economics Society Conference (Eurasian Studies in Business and Economics, 25)

EBES conferences have been an intellectual hub for academic discussion in economics, finance, and business fields and provide network opportunities for participants to make long-lasting academic cooperation. This is the 26th volume of the Eurasian Studies in Business and Economics (EBES’s official proceeding series), which includes selected papers from the 38th EBES Conference which took place in Warsaw. The conference was organized in hybrid mode with both online and in-person presentations at the Faculty of Economics Sciences, the University of Warsaw in Warsaw, Poland, on January 12-14, 2022. At the conference, 197 papers by 439 colleagues from 50 countries were presented. Both theoretical and empirical papers in this volume cover diverse areas of business, economics, and finance from many different regions. Preface Eurasia Business and Economics Society (EBES) Contents Contributors Part I: Eurasian Business Perspectives: Corporate Governance Board Diversity and Sustainability: Indonesian Evidence 1 Introduction 2 Literature Review and Hypothesis Development 2.1 Corporate Governance 2.2 Sustainability 2.3 Board Diversity and Sustainability 2.4 Hypotheses 3 Method 3.1 Sampling 3.2 Variable Measurement 3.3 Data 3.4 Data Analysis 4 Results and Discussions 4.1 Descriptive Statistics 4.2 Pearson Correlations 4.3 Regression Results 5 Conclusions References The Impact of Audit Committee Composition on Corporate Risk Disclosure in Emerging Countries 1 Introduction 2 Literature Review 2.1 Risk and Risk Disclosure 2.2 Audit Committee Regulations in Nigeria 2.3 Audit Committee Regulations in South Africa 2.4 Theoretical Background 2.5 Audit Committee and Risk Disclosure: Prior Studies 2.6 Hypothesis Development 2.6.1 Audit Committee Size 2.6.2 Independent Member on the Audit Committee 2.6.3 The Independent Chairperson of the Audit Committee 2.6.4 Non-executive Member of the Audit Committee 2.6.5 Audit Committee Meetings 3 Methodology 3.1 Sample and Data Collection 4 Result and Discussion 4.1 Content Analysis and Descriptive Statistics 4.2 Correlation 4.3 Regression 5 Conclusions Appendix 1: Risk Disclosure Categories Operational Risk Environmental Risk Strategic Risks Appendix 2: Decision Criteria References Part II: Eurasian Business Perspectives: Entrepreneurship The Dynamic Capability and Ambidexterity in the Early-Stage Startups: A Hierarchical Component Model Approach 1 Introduction 2 Literature Review 2.1 Organizational Ambidexterity and Dynamic Capability 2.2 Competitive Advantage 3 Data and Methodology 4 Result and Discussion 4.1 Measurement Model Evaluation 4.2 Structural Model Evaluation 4.3 Discussion 5 Conclusion, Limitations, and Future Research 5.1 Conclusion 5.2 Research Limitation 5.3 Future Research References The Impact of Institutional Framework On Entrepreneurship in OECD Members Countries 1 Introduction 2 Literature Review 3 Description of the Data 3.1 Dependent Variable 3.2 Independent Variables 4 Method of Analysis 5 Results 6 Conclusion Appendix References Part III: Eurasian Business Perspectives: Management Information System Combining Robotic Process Automation with Artificial Intelligence: Applications, Terminology, Benefits, and Challenges 1 Introduction 2 Background 2.1 Robotic Process Automation 2.2 Artificial Intelligence 3 Research Design 4 Results 4.1 Applications 4.2 Terminology 4.3 Benefits 4.4 Challenges 5 Conclusion References Google Analytics Best Practices in Slovak and Czech Online Business 1 Introduction 2 Background 2.1 Consumer Behavior in the Online Environment 2.2 Making Sense of Big Data in e-Commerce Organizations 2.3 Opportunities and Challenges of Web Analytics 3 Data and Methodology 4 Findings 5 Discussion 6 Conclusion References Part IV: Eurasian Business Perspectives: Sustainability Product Sustainability in Spatial Competition with Consumer Environmental Awareness 1 Introduction 2 Overview 2.1 The Sustainability of Natural Resources 2.2 Environmental Policies in Imperfectly Competitive Markets 3 The Model 4 Optimal Strategies from a Business Perspective 4.1 Optimal Prices 4.2 Optimal Characteristics of the Firms 4.2.1 Third Result: Interior Solution (S3) 4.3 Optimal Level of the Awareness Campaign 4.4 Sustainability Characteristic Chosen by the Regulator 5 Optimal Strategies from a Social Perspective 5.1 Optimal Characteristics of the Firms 5.2 Optimal Level of Awareness 5.3 Optimal Characteristics 6 Discussion 6.1 The Role of Regulation 6.2 Results 7 Conclusion References Is the Green Economy the Key Factor in Reducing Urban Pollution in Romania? 1 Introduction 2 Literature Review 3 Data & Methodology 4 Results and Discussions 4.1 Means of Clusters 5 Conclusion References Part V: Eurasian Economic Perspectives: Agricultural Economics Rural Development in the Context of Agricultural Models: Evidence from Bulgaria 1 Introduction 2 Literature Review 3 Data and Methods 4 Changes in Rural Areas and Transformations in Agriculture 5 Expert Assessment of the Importance of Agriculture for Rural Areas and the Trends in Changes in Agricultural Models 6 Discussion References Risk Management in Agriculture: Lesson from Bulgaria 1 Introduction 2 Data and Methodology 3 Results of the Survey 3.1 Relationship Between Farm Size, Type of Produce, and Risk Management Strategies 3.2 Relationship Between Type of Production and Government Support 4 Conclusion and Discussions References Part VI: Eurasian Economic Perspectives: Banking Impact of Merger Announcements on Stock Price of Participating Banks 1 Introduction 2 Literature Review 3 Research Methodology 4 Data Analysis and Findings 5 Conclusion and Limitations References Impact of Macroprudentiality on Customer Protection of Banking Services: The Case of the Republic of Moldova 1 Introduction 2 Defining the Macro-prudential Policy 3 Contribution of Macro-Prudential Policy to Reconfiguring Banking Services Consumer Protection 4 Contribution of Macro-Prudential Policy to the Protection of the Banking Services Consumer in the Republic of Moldova 5 Conclusion References Part VII: Eurasian Economic Perspectives: Empirical Studies on Finance and Economics The Lack of Public Health Spending and Economic Growth in Russia: A Regional Aspect 1 Introduction 2 Literature Review and Hypothesis Development 3 Trends and Patterns of Healthcare Expenditure in the Russian Federation 4 Methodology 4.1 Data and Variables 4.2 Model 5 Results 6 Conclusion Appendix 1 Appendix 2 References Analysing the Asymmetric Effect of Oil Price Shock on Inflationary at the Aggregate and Disaggregated Levels in Malaysia 1 Introduction 2 Literature Review 3 Methodology 3.1 Data 3.2 Variables 3.3 SVAR Model 4 Results and Discussion 5 Conclusion References Qatari Real Estate Market and Its Response to Shocks 1 Introduction 2 Literature Review 3 Qatari Real Estate Market 3.1 Government Efforts in Real Estate Sustainability 3.2 Economic Growth and Real Estate 3.3 Supply and Demand Dynamics 3.4 Qatari Banks and Mortgage Loans 4 Qatari Real Estate Market and Shocks 4.1 Before and After the Global Financial Crisis 4.2 Oil Prices Drop and Gulf Crisis 2014-2017 4.3 Gulf Crisis in Addition to the Corona Epidemic During the Period 2018-2021 5 Conclusion References Part VIII: Eurasian Economic Perspectives: Investment Investor Sentiment and Efficiency of the Cryptocurrency Market: The Case of the Crypto Fear & Greed Index 1 Introduction 2 Literature Review 3 Methodology 3.1 The Crypto Fear and Greed Index Description 3.2 Specification of the Active and Passive Strategies 3.3 Calculating the Performance Measures 3.4 Hypothesis Testing for the Performance of Two Strategies 4 Empirical Results 4.1 Descriptive Statistics 4.2 Testing Results 5 Conclusion References The Key Determinants of Financial Risk Tolerance Among Gen-Z Investors: Propensity for Regret, Propensity for Overconfidence a... 1 Introduction 2 Literature Review 3 Research Hypotheses 4 Research Methodology 5 Results and Discussion 6 Conclusion and Recommendation References Profiling the Victims of Ponzi Schemes: The Role of Financial Literacy 1 Introduction 2 Literature Review and Hypothesis Development 3 Methods 4 Results and Discussion 5 Conclusion and Implication References Part IX: Eurasian Economic Perspectives: Public Economics Chosen Central European Countries Compared in Measuring Efficiency of General Government Expenditures 1 Introduction 2 Brief Review of the Literature 3 Data and Methodology 3.1 Data 3.2 Methodology 4 Model of Government Support in Central Europe 5 Discussion 6 Conclusions References A Contribution to the International Trade Theory 1 Introduction 2 General Equilibrium Approach 3 International Trade Rules 4 Numerical Examples 5 Conclusion References Part X: Eurasian Economic Perspectives: Tourism COVID-19: How Do Companies in the Tourism Sector React? The Case of Riccione 1 Introduction 2 Theoretical Foundation and Framework 2.1 A Definition of Crisis 2.2 Natural and Socio-Technical Disasters and Business Crises 2.3 Financial Crisis 2.4 Pandemic Crisis 3 Data and Methodology 4 Findings 5 Conclusions References Analysis of Social Capital in Aragon ́s Tourism Cluster: A Social Network Resources Perspective on Twitter 1 Introduction 2 Theoretical Background 2.1 Social Capital 2.2 Social Capital Approach 2.3 Social Network Analysis 2.4 Social Capital Description from Social Network Perspective 3 Data Source 3.1 Aragon ́s Sustainable Tourism Cluster 4 Methodology 4.1 Data Collection 4.2 Data Analysis 4.3 Measuring Social Capital 5 Results and Discussion 5.1 Shaping of the Network of Mentions 5.2 Social Capital at Network Level 5.2.1 Structural Dimension 5.2.2 Cognitive Dimension 5.3 Social Capital at Node Level 5.3.1 Structural Dimension 5.3.2 Cognitive Dimension 5.3.3 Relational Dimension 6 Discussion and Conclusions References The Economic Value of Recreational Assets During the COVID-19 Pandemic on the Example of Bóbr Valley Railway ``Bobertalbahn ́ ́ 1 Introduction 2 Literature Study 3 Object of the Research 4 Data and Methodology 5 Results and Discussion 6 Conclusion References