European Journal of Business Science and Technology, 2025 (vol. 11), issue 2
Nonlinear Effects of Inflation and Wage Policy on Firm Sustainable Growth in Vietnam
Nguyen Huu Anh, Duong Thi Chi
European Journal of Business Science and Technology 2025, 11(2)
This study examines the effects of consumer price index (CPI) and regional minimum wage policy on firms’ sustainable growth from both economic and social perspectives. Using a balanced panel of 146 agricultural and manufacturing firms in Vietnam over 2011–2022 (1,752 firm-year observations), the analysis employs panel data regression models to estimate both linear and nonlinear effects. The results reveal clear evidence of inverted U-shaped relationships between CPI and the economic aspect of firm sustainable growth, indicating that moderate inflation promotes growth while excessive inflation constrains it. For the social aspect—measured...
Geopolitical Shocks and Asset Pricing: Global Cross-Sectional Evidence from Defense and Aerospace Firms amid the Russia–Ukraine War
ATM Adnan, Md Arif Hasan Khan, Md Tapan Mahmud, Sabira Kumkum, Abdullah Al-Mamun
European Journal of Business Science and Technology 2025, 11(2)
This study addresses a critical gap in geopolitical finance by examining the heterogeneous capital market reactions of 370 global defense and aerospace (D&A) firms to the 2022 Russia-Ukraine war. While the impact of geopolitical shocks on financial markets is well-documented, the specific determinants of intra-sectoral returns remain underexplored. Employing an event study methodology, this research quantifies abnormal returns around the invasion date and conducts cross-sectional analyses to test whether these returns are systematically moderated by firms’ home country attributes, including geopolitical alignment (G7 vs. non-G7), economic...
Future of Environmental, Social and Governance Auditing in the Czech Republic – Evidence from Statutory Auditors
Veronika Popelková, David Hampel, Patrik Svoboda
European Journal of Business Science and Technology 2025, 11(2):147-162 
This paper analyses the attitudes and opinions of statutory auditors regarding the issue of Environmental, Social and Governance reporting and its verification in the Czech Republic. The research examines auditors’ willingness to perform ESG assurance, their attitudes towards ESG issues, and their views on key skills and training needs. A questionnaire survey was conducted among Czech statutory auditors, and the results were analysed using statistical methods. The findings reveal differing attitudes between auditors employed in audit firms and self-employed auditors. Auditors from larger companies are more likely to perceive ESG reporting as...
The Impact of Environmental, Social and Governance (ESG) Pillar Scores on Banking Sector Stock Returns: An Empirical Analysis of Banks in the MSCI Emerging Market Index
Hüseyin Öcal, Tarık Yılmaz, Anton Abdulbasah Kamil
European Journal of Business Science and Technology 2025, 11(2):163-181
This article examines whether investing in ESG impacts banks’ stock returns, aiming to illustrate the value generated by ESG investment in the MSCI Emerging Markets Index. The fiscal year-end data of thirty-five financial companies within the Index, covering the period from December 31, 2015, to December 31, 2022, have been utilised. The analysis employs a pooled panel regression model utilising robust least squares estimation. Firm-specific and market-specific variables are used as independent variables. We have observed a significant positive direct relationship between the social pillar score and stock returns. Banks may initiate investments...
Emotional Intelligence of Generation Z and Its Relation to Alcohol Consumption
Barbora Pánková, Renata Baıová, İimon Vıetièka
European Journal of Business Science and Technology 2025, 11(2):182-205
This study explores the correlation between emotional intelligence (EI) and alcohol consumption patterns among Generation Z, with a focus on university students and graduates with backgrounds in economics and management. The present study explores emotional intelligence as a personal trait that potentially influences risky alcohol behaviors. These behaviors are assessed using the AUDIT (Alcohol Use Disorders Identification Test) and the TEIQue-SF (Trait Emotional Intelligence Questionnaire – Short Form). A sample of 128 respondents, recruited through online platforms, completed these standardized questionnaires. A comprehensive statistical analysis...
The Context of Sustainability and Generational Differences in Consumer Behaviour
Hana Urbánková, Jana Stávková
European Journal of Business Science and Technology 2025, 11(2):206-219
This study focuses on intergenerational differences in attitudes towards sustainable consumer behaviour. The research is based on the framework of the UN Sustainable Development Goals (Agenda 2030) and analyses the attitudes of Generation Z, Millennials and Generation X. Opinions on this issue were obtained through a questionnaire survey of 703 respondents. The results show that younger generations are more positively disposed towards sustainability and more open to ecological innovations, but their decisions are often influenced by price and a lack of reliable information. Older generations take a more pragmatic approach to sustainable choices and...