<abstract>
<title style='display:none'>Abstract</title>
<bold>Research purpose.</bold> Currently, the Internet is used by almost 5 billion users worldwide, of which 80% actively use at least one of the social networks. And marketing managers are well aware of this fact, as they had to switch to a new way of attracting potential customers. One of these methods is also influencer marketing as a form of marketing communication. In influencer marketing, the emphasis is placed on influencers with a significant impact on the community on which marketing activities and campaigns can be oriented. It is a method of non-violent and natural promotion of a product or brand, which acts on the consumer as a natural part of the space in which it is located. Especially one generation of consumers, Generation Z, is considered to be the target segment for influencer marketing due to their digital skills and inclination to social networks. The main aim of the article is to determine the impact of influencer marketing on the decision-making process of Generation Z. This also includes providing the theoretical background and analysis of influencer marketing from the viewpoint of Slovak and foreign authors.
<bold>Design / Methodology / Approach.</bold> General scientific methods were applied for the processing of the data as well as mathematical-statistical methods to evaluate the data collated from the results of the questionnaire survey and to statistical hypothesis testing. The important source for secondary data was scientific research, annual company reports, statistical databases, and published professional publications. In order to find out the impact of influencer marketing on the decision-making process of Generation Z, a questionnaire survey was conducted.
<bold>Findings.</bold> A successful marketing campaign on social media in cooperation with influencers requires the correct selection of the influencer according to their follower base, profile focus, credibility or reach, which is measured by Engagement rate. The number of followers is not as significant as the relationship that the creator has with their fans. When choosing an influencer, it is also necessary to take into account the way they promote products, ask them for originality and creativity, and prefer long-term collaborations to one-time contributions. These steps can bring a lot of benefits to the company, from which it will subsequently profit. Based on the analysis and results of the questionnaire survey, it is thus clear that the implementation of influencer marketing in marketing communication of Slovak companies targeted at Generation Z brings many benefits, including building relationships with Generation Z, increasing their loyalty and improving the company image.
<bold>Originality / Value / Practical implications.</bold> Finally, measures for effective influencer marketing usage targeted at Generation Z are proposed, and its benefits are highlighted.
</abstract>

The Impact of Influencer Marketing on the Decision-Making Process of Generation Z

<abstract>
<title style='display:none'>Abstract</title>
<bold>Research purpose.</bold> The main objective of this work is to highlight the adoption of project management practices in companies’ digital transformation initiatives as a critical success factor. Thus, on the one hand, we will seek to systematize the importance of project management practices in the digital transformation of economic organizations and, on the other hand, analyze them based on a digital transformation project of one of the largest publishing groups in Portugal. Having previously studied the process of digital transformation of the warehouse through the adoption of a Warehouse Management System, it is now important to analyze to what extent the transformation process was successful and to what extent the management as a project contributed to the achievement of the intended objectives and generated economic value.
<bold>Design / Methodology / Approach.</bold> The first part of the study was carried out through surveys to managers for a general characterization; the second part through the adoption of the focus group technique for analysis and study in greater depth of a case study. In the first phase, the focus group adopts semi-structured interviews with the different managers of the group’s different companies and respective departments. In the second phase, a joint reflection on the organizational and economic value creation was developed based on the different existing perspectives of the digital transformation project. This reflection allowed a more objective analysis of the results obtained, the adequacy of management options, and the deviations.
<bold>Findings.</bold> Technologies analysis investment is a management principle, and the project management approach facilitates this practice. It is essential to carry out a careful project management approach and analyze the economic and financial viability of the investment. The disruptive changes associated with digital transformation make it difficult, and it is not easy to achieve the strategic objectives associated with these investments. So, the adoption of a project management approach seems to be critical for the success of the implementation of digital transformation initiatives. The current study highlights three critical aspects in the global assessment of IST investment: the importance of analyzing the objectives achieved; the importance of economic and financial analysis in determining the return on investment; and the relevance of the analysis being carried out by the stakeholders involved as a way of perceiving, individually and collectively, the diversity of the benefits achieved.
<bold>Originality / Value / Practical implications.</bold> The digital transformation of companies is a current reality and justifies a project approach to guarantee success in economic and organizational initiatives. However, it is important to analyze how management adopts the associated practices and whether it is aware of the importance of evaluating the intended results.
</abstract>

The Project Management Approach. A Critical Success Factor in Digital Transformation Initiatives

<abstract><title style='display:none'>Abstract</title><bold>Research purpose.</bold> Consumer is becoming demanded one in the purchasing process. Thus, consumer behaviour analyses thinking about his or her involvement in the purchase process could be a solution for marketers. This article concentrates on the consumer’s choice of food products in the purchase process because the author is interested to clarify the connection amongst choice, purchase and wasting of food. The research purpose is to evaluate the consumer’s consciousness in choosing food product in the purchase process.<bold>Design/Methodology/Approach.</bold> Quantitative method using questionnaire was applied to 643 respondents whilst implementing formulated aim. Cronbach’s alpha analyses of 35 items (0.870) showed reliability of the research.<bold>Findings.</bold> The research results indicated that consumer in the food purchase process is low conscious because he or she does not understand that he or she is buying more than what he or she needs and thus some of his or her purchase becomes waste. Consumer’s consciousness could be seen in the consumer’s lifestyle such as preferences for homemade food.<bold>Originality/Value/Practical implications.</bold> The research results could be used in practice and science. Food-producing companies might use some research results making their packaging solutions. The research results could give incites for scientists for future research.</abstract>

Consumer Involvement in the Purchasing Process: Consciousness of the Choice

<abstract><title style='display:none'>Abstract</title>Customers are key in the brand-building process. Many times, this term is applied very broadly, especially in segmentation and planning. Knowing the customer buying behaviour and customer decision-making process is important for brands, especially today, when customers are informed much better and get information over the Internet faster. In this paper, we present theory that deals with the purchasing behaviour of customers and emphasize the analysis of the sales cycle of the individual phases in the current conditions, when segmentation based on socio-demographic data is not enough. It is much better to define the psychological factors, which influence the customer and motivate him to buy in combination with the buyer’s decision-making speed. Thus, the article discusses the basic four types of customers according to the major research work carried out by Eisenberg brothers. Based on this analysis, we can determine the percentage of individual customers. The article offers a survey that was conducted to find the most important factors in the decision-making process when buying a car. In addition to the criteria, we also asked our respondents about the importance of these factors. We have used the multiple criteria decision analysis as it is one of the methods of complex evaluation and it minimizes the degree of subjectivity in choosing a suitable variant. Based on our survey, we have used analysis to estimate trends that brands operate in automotive sector could use to communicate in order to address the type of customer that belongs to their target audience. The primary aim of the paper is to prove that there is a growing trend of humanistic customers through study about their preferences and criteria during the decision-making process that leads them to buy a new car. Moreover, we determinate communication strategies for all four types of customers based on theory provided by Eisenbergs.</abstract>

Proposal for Brand’s Communication Strategy Developed on Customer Segmentation Based on Psychological Factors and Decision-Making Speed in Purchasing: Case of the Automotive Industry

<abstract>
<title style='display:none'>Abstract</title>
<sec><title style='display:none'>Research Purpose</title>
This study investigates the dynamics of Artificial Intelligence (AI) in e-business, particularly from the perspective of consumers in North Macedonia. The research aims to identify and evaluate the benefits and challenges of AI integration in e-business, explore the ethical concerns related to AI decision-making, and understand the impact of AI on consumer behaviour and preferences.
</sec>
<sec><title style='display:none'>Design/Methodology/Approach</title>
The research adopts a mixed-methods approach, integrating qualitative and quantitative analyses. Primary data was collected via a structured questionnaire distributed among various demographic groups to gauge the level of awareness and experiences with AI in e-business. A range of statistical tests, including ANOVA and correlation tests, were employed to assess the significance of the data collected and to test a set of hypotheses concerning consumer perceptions and experiences of AI.
</sec>
<sec><title style='display:none'>Findings</title>
The results reveal that demographic factors such as age, status, education, and occupation do not significantly impact the level of understanding, awareness, or experiences with AI among Macedonian consumers. Participants exhibited a level of high awareness of the importance of AI in e-business and rated their shopping experiences with AI more positively than traditional methods. Trust and reliability in AI did not significantly differ across demographic lines. The findings of this study have significant policy implications, especially in guiding the ethical and responsible integration of AI in e-business. They suggest a need for policies emphasising consumer data protection and privacy, given the heightened awareness and concern among consumers regarding using their personal information. Furthermore, the results advocate for the development of regulatory frameworks that ensure transparency and fairness in AI algorithms, addressing potential biases that could negatively impact consumer trust.
</sec>
<sec><title style='display:none'>Originality/Value/Practical Implications</title>
This research contributes novel insights into the Macedonian consumer market’s perception of AI in e-business, a topic scarcely covered in existing literature. The findings underscore the necessity for businesses to adopt AI responsibly and ethically, highlighting the importance of prioritising fairness, privacy, and transparency to leverage AI’s full potential in e-business. This study stands out in its exploration of AI in e-business from the consumer perspective in North Macedonia, a context not extensively covered in existing literature. The originality of our research lies in its focus on a comprehensive range of consumer-centric factors, including awareness, experiences, ethical concerns, and behaviour related to AI in e-business.
</sec>
</abstract>

Understanding the Consumer Dynamics of AI in North Macedonian E-Business

<abstract>
<title style='display:none'>Abstract</title>
<bold>Research purpose.</bold> The purpose of the research project was to evaluate the status of place branding as a scientific discipline and to check whether this concept has been concretised during exploration and articulation. An additional objective was to check the theoretical status of place brands.
<bold>Design / Methodology / Approach.</bold> The study used an approach based on the analysis of 'place brand' models developed in the literature since models are central to the scientific procedure. These models were then confronted with the empirical observations of the authors using the Flexible Pattern Matching (FPM) method.
<bold>Findings.</bold> A consulting and practical approach is noticeable, especially in the ever-new 'process models' (how to create and manage 'place brand'); moreover, these models are scientifically insignificant and practically unworkable. Descriptive models (what a 'place/territorial brand' is) do not reveal signs of concretisation. There is undoubtedly a phenomenon of 'forcing' empirical data.
<bold>Originality / Value / Practical implications.</bold> Based on the analyses done, it can be concluded that none of the examined models meets the requirements of lawlike generalisations. In the practice of place branding, carried out by territorial units, the only common element is the usage of the name and logo of the place. It can also be argued that the basic concept of 'place brand' is poorly defined. The research method used (FTM) has not been applied in the analysis of place brands so far; however, the examination done in this article proves its usefulness.
</abstract>

The Place as a Brand. Theory and Practise of the Place Branding

<abstract>
<title style='display:none'>Abstract</title>
<sec><title style='display:none'>Research purpose</title>
The Kehler Management System (KMS) is a tool for assessing quality in municipalities. Due to technological advancements, globalisation, greater market dynamics, changing values and demographic change, municipalities find themselves in a complex and dynamic field of tension. The diversity and complexity of these fields of activity and relationship structures continue to increase, making it difficult for municipalities to adapt their processes.
However, in the first stage, the focus of KMS was limited to the internal perspective of the municipal administration. This was coherent in terms of an initially necessary reduction of complexity, but in terms of a holistic view, this is insufficient. Following the successful introduction of the KMS for quality assessment in the internal structure of public administration, the concept is being expanded to include the external perspective of stakeholders. The question is: “How can the satisfaction of various stakeholder groups in the municipality be measured in a way that incurs significant participation and produces relevant results for the decision-makers in the municipality?”
</sec>
<sec><title style='display:none'>Design / Methodology / Approach</title>
The research design takes the form of a case study and focuses on the municipality of Ottersweier. The basis for developing the external perspective is determining the stakeholder groups interacting with a municipality. Six stakeholder groups are identified: Residents, local businesses, business partners of the administration, capital providers of the administration, civil society actors such as associations, clubs and interest groups, and corporations and institutions under public law, e.g. neighbouring municipalities. In analogy to the KMS's approach to the municipal administration's internal perspective, the first step is identifying impact factors grouped into success clusters. To assess the impact factors, questions relevant to the impact factors are developed. Questionnaires were developed and tested for the stakeholder group of residents, local businesses and clubs. All questionnaires were tested in the Ottersweier community.
</sec>
<sec><title style='display:none'>Findings:</title>The survey brought about significant results that aligned with the staff's experience in the municipality. Local businesses indicated a "General Satisfaction" of 81%. They were especially satisfied with the work of the administration. The impact cluster is considered to be fulfilled. However, 18 companies indicated a willingness to relocate out of the municipality for other reasons.
The survey of the clubs showed a high level of satisfaction with the service quality of the municipality for this stakeholder group. The general satisfaction of the clubs was 98%.
The evaluation of the residents' views showed that the two impact clusters, "General satisfaction" and "Administration," were above the 80% hurdle. The results for the impact clusters "Municipal Policy" and "Supply and Infrastructure"were noteworthy. Both the survey of residents and local businesses obviously failed to meet the KMS target of 80% effectiveness for these two impact clusters. A closer examination of the detailed questions revealed that both stakeholder groups perceive the same areas as particularly deficient: communication and implementation of the municipal council's mission statement and public transport.
</sec>
<sec><title style='display:none'>Originality / Value / Practical implications</title>
In previous surveys of residents in various municipalities without using the KMS, the participation of residents was so low that only limited conclusions could be drawn about the quality of municipal services. Therefore, an attempt was made to keep the number of questions to residents as low as possible to increase the survey's acceptance. The response rate was significantly expanded concerning the number of residents compared to previous surveys.
Since two stakeholder groups perceived two areas as deficient independently of each other, "Municipal Policy" and "Supply and Infrastructure", the municipality of Ottersweier must conduct a weakness analysis in order to develop a plan for action to improve the services. Semi-structured, qualitative interviews with residents can be used for this analysis. Also, the motives for local businesses to consider relocation should be investigated in more detail.
</sec>
</abstract>

The Kehler Management System®: Integration of External Stakeholders in the Quality Assessments of Municipal Administrations

<abstract>
<title style='display:none'>Abstract</title>
<bold>Research purpose.</bold> COVID-19 has a huge impact on the life-style in modern society, including the switching to online studies and remote work. The majority of the studies view the consequences as negative, while at the same time the pandemic have enhanced some positive changes. The goal of the research is to find out, how the time spent online and the content consumed online are changed due to pandemic as well as to determine what cultural content young people are consuming online.
<bold>Design / Methodology / Approach.</bold> To achieve the research purpose author conducted a survey, using own developed instrument – questionnaire. In total, 1029 respondents participated and 934 questionnaires were valid. The survey was conducted in December 2020 using snowball sampling. The developed questionnaire contained 14 questions were grouped into 2 sections: A) Questions about consumption on cultural content online before and during the pandemic and B) Respondent profile.
<bold>Findings</bold>. Totally the number of hours young people are spending online in post-pandemic period increased because of COVID, but most fastest growth is by those who spent more than 8 hours (from 15 to 100 persons). 53,2% from all respondents are spending about ¼ of all time online consuming cultural content, and 23,2% are not consummating cultural content online at all. 3 main significant reasons why the youth is spending time online are: it is easy and fast (77%); the digital environment is always along in the phone (77%); in the digital environment it is possible to communicate with friends (65%). Spending time online most respondents are consuming informative content, including news and blogs (64%) and the content related to hobbies or leisure (60%), but the cultural content was ranked with just 26%. The most used digital cultural content is movie watching (30,5%), seminars and courses about culture (18,6%), conferences dedicated to culture topics (17,1%), tours in world museums (16,3%) and study books (15,9%). Further, gender, like gender, can not be considered both a significant factor and a predictor of digital consumption. Unlike the two, occupation and place of living are predictors for share of online cultural consumption: occupation appeared to be a moderating factor for digital consumption of cultural content, which make Latvian findings different from what appears in literature.
<bold>Originality / Value / Practical implications.</bold> The results of the research are representing changes in online consumption of culture goods and services caused by COVID-19. As the target group of this survey are youth from 18 to 25 years old, they can be used by evaluating potential and planning of culture goods and services online for this target group. It because evident, that some of the post-pandemic cultural consumption trends appeared as the impact of pandemic, enhancing cultural consumption growth in certain areas, involving more youngsters to cultural consumption compared to pre-pandemic period.
</abstract>

Consumption of Cultural Content in the Digital Environment in the Post-Pandemic Latvia

<abstract>
<title style='display:none'>Abstract</title>
<bold>Research purpose</bold>. In today's business world and for over a hundred years, art events have been used to develop a brand, promote awareness, and increase the number of customers. Art is a useful tool for a company to promote and advertise its products. As some authors mentioned, arts can enhance the company's image: <bold>i</bold>n marketing and selling, art can brand a company's culture and products; arts can also act as a social connector in the workplace and beyond and in marketing, art can brand a company's culture and products, it helps to further community relations (Anderson, 2017). Companies can use not only art events to attract customers and diversify target audiences but also institutions such as zoos. Attracting visitors through art events is especially important for those zoos that cannot afford rare animal species or special spaces and landscapes. Nowadays, most cultural activities in zoos are done under the educational programs - educational activities provided by zoos not only concern animals, biodiversity and the environment but may have cross-academic roots, like arts, geography, theatre, engineering and technology, physical and mental health, even math (Zareva-Simeonova et al., 2014.) Social media development gives the zoos an excellent opportunity to make these activities visible and allows them to incorporate art, music, crafts, games, and storytelling into the zoo experience. Videos, artistic content and online read-alongs can draw kids and their families into the zoo community long before stepping foot into the zoo. (Softplay, 2023). The most active in attracting visitors with art and culture activities are USA zoos, from the usual placement of art objects in the zoo territory and celebration of various holidays to master classes with professional artists who teach visitors to draw animals and art residencies. This research aims to identify European best practice examples of zoos using art events that attract more local visitors and tourists and classify art events in zoos.
<bold>Design / Methodology / Approach.</bold> Using the document analysis method, the home pages of different zoos worldwide were analysed. In antiquation, partly structured interviews with zoo representatives and artists were made.
<bold>Findings.</bold> The results of the research will be presented at the conference.
<bold>Originality / Value / Practical implications.</bold> The research summarises the experiences of different zoos in organising art events. It creates a typology of art events that can be used by representatives of different zoos when planning additional activities.
</abstract>

Incorporating Art Events Into Marketing Activities - Good Practice By European Zoos

<abstract>
<title style='display:none'>Abstract</title>
<bold>Research purpose.</bold> Cultural heritage in movable or immovable form contributes with its tools to the creation of a coherent and inclusive society. The cultural direction of the society should be built on the basic principles of inclusion, equality, participation and availability with the help of marketing and marketing communication. The aim of the contribution is, on the basis of the data database of culture, which is implemented by institutions under the authority of the Ministry of Culture of the Slovak Republic, to determine the use and sustainability of non-periodical publications registered in libraries in the Slovak Republic, which should lead to the creation and maintenance of mutual understanding between them and the public with the ultimate goal of supporting knowledge the society's potential.
<bold>Design / Methodology / Approach.</bold> The object of the research werw 1738 libraries of the Slovak Republic, using the statistics for period 2016-2020. We used eighteen fifferent indicators, such as „active library services users“, „library visitors“, etc.
<bold>Findings.</bold> There is a strong statistical dependence based on the obtained results for the research questions and the multiple correlation dependence between the number of libraries and indicators such as the number of book units, the number of loans, and the number of visitors. Because of this, it was possible to outline new recommendations to support the sustainability and development of public libraries in the Slovak Republic.
<bold>Originality / Value / Practical implications.</bold> Through the continuous generation of knowledge and data in this area, the research activity and results of this work could contribute to increased awareness of the importance of culture and the building of the society's good reputation. By developing a public relations communication tool, public administration institutions could significantly contribute to the development of knowledge potential not only in the Slovak Republic. This requires building relationship management and strengthening the communication of the investigated institutions towards the public with the intention of strengthening these ties.
</abstract>

Use of Movable Cultural Heritage Through Libraries in Slovakia

<abstract>
<title style='display:none'>Abstract</title>
<sec><title style='display:none'>Research Purpose:</title> One of the most recent global aims is to increase life expectancy since healthy people are seen as human capital that may boost the economy. The study investigates the role of governance in the globalisation-life expectancy nexus using 39 African countries between 1996 and 2019.
</sec>
<sec><title style='display:none'>Design/Methodology/Approach:</title> The study uses a Panel-Spatial Correlation Consistent augmented with the Least Square Dummy Variables (PSCC-LSDV) approach. The study uses a dynamic two-step system, the Generalised Method of Moments (GMM), as a robust model to solve the endogeneity problem.
</sec>
<sec><title style='display:none'>Findings</title>
The results from the PSCC-LSDV approach reveal that globalisation increases life expectancy in the selected African countries.The approach is more efficient since it can be used with cross-sectional dependent variables when other techniques like fixed and random effects methods may be ineffective. Likewise, the result from the GMM estimator is consistent with the PSCC-LSDV approach. The effect of globalisation on the life expectancy nexus without the inclusion of governance is positive. Meanwhile, the moderating (interactive) effect of governance on the relationship between globalisation and life expectancy is negative, indicating that globalisation and governance are substitutes for each other. This means that globalisation positively influences life expectancy, but the governance conditions in Africa weaken this positive effect.
</sec>
<sec><title style='display:none'>Originality/ Value/ Practical Implications</title>
Previous studies have shown that globalisation can have a negative, a positive or an insignificant effect on life expectancy in different countries. This discrepancy may arise from the use of different methods, different variables being measured, or different countries. None of these studies, to our knowledge, look at the moderating effect of governance on the globalisation-life expectancy nexus. Furthermore, unlike this study, most studies that look into the role of governance in the relationship between globalisation and life expectancy do not employ an aggregate index. The moderating role of governance from the two approaches confirms that governance interacts with globalisation to weaken the positive impact of globalisation on life expectancy. Put differently, the existence of poor governance in the African region drains the positive effect of globalisation on life expectancy in Africa. However, we expect life expectancy in African countries to improve in the face of good governance.
</sec>
</abstract>

The Moderating Role of Governance in the Globalisation-Life Expectancy Nexus: Implications for Socioeconomic Development

<abstract><title style='display:none'>Abstract</title><bold>Research purpose.</bold> This paper has established the index of the cycle of money. The index shows the level of the appropriately structured economy. According to the theory of the cycle of money, it is examined if an amount of money is recycled in the economy a lot of times or this amount of money is lost from an economy to other economies or banks abroad, because of inadequate structure of the economy of the country, then the purpose of the paper is to show an application of the case cycle of money, here in the case of Latvia. Therefore, this work aims to clarify how the theory of the cycle of money works to a real case scenario, and in general, how the cycle of money applies to an economy. Moreover, the index of the cycle of money shows how an economy could counteract to an economic crisis and how well-structured it is.<bold>Design/Methodology/Approach.</bold> The methodology followed in this work is based on the mathematical application of the theory of the cycle of money. Then, the current results have as root the equations of this theory for the examination of the case of Latvia for the period from 2012 to 2017. Beyond the mathematical applications, the R.B.Q. model with the Q.E. method is applied to ensure the credibility of the results. Therefore, we have a real case scenario and a simulation case for the case of Latvia.<bold>Findings.</bold> The results of the index of the cycle of money to the case of Latvia are compared with the global average index of the cycle of money. The results show, as expected, that Latvia is above the average global value. Latvia’s findings show that it is a well-structured economy and can counteract an economic crisis.<bold>Originality/Value/Practical implications.</bold> The results are original and show for the first time the cycle of money of Latvia through the application of this theory. This research is the first application of the cycle of money in the case of index calculations. So, it is a completely new concept based on the theory of the cycle of money.</abstract>

Index of the Cycle of Money - The Case of Latvia

<abstract><title style='display:none'>Abstract</title><bold>Research purpose.</bold> The high penetration of the Internet and increased level of use of digital devices create conditions for the development of the digital economy and society. Understanding and management of this model are essential whilst seeking to compete in the global market and to ensure a high standard of living for citizens. However, despite the opportunities presented by the digital economy, the Baltic States have not yet fully exploited the potential of digital technologies for sustainable development. The purpose of this research is to assess the progress of the Baltic States towards developing a digital economy and society and to identify areas requiring priority investments and action.<bold>Design/Methodology/Approach</bold>. The Digital Economy and Society Index (DESI) published by the European Commission is used to explore the potential of the digital economy. It is an index measuring progress in digital performance through five components: connectivity, human capital, use of internet, integration of digital technology and digital public services. DESI is a crucial tool to reflect the performance of the Baltic States in the context of other European countries.<bold>Findings</bold>. The survey shows the individual performance of each Baltic country and compares them amongst themselves as well as with other EU countries. Estonia has the highest DESI when compared with other Baltic countries; however, lower scores in connectivity and integration of digital technology components are observed. Lithuania scores high in the integration of digital technology, whereas the human capital component remains lower. Latvia is a leader amongst connectivity but descents to other Baltic countries in human capital and integration of digital technology components.<bold>Originality/Value/Practical implications</bold>. The digital economy remains a widely discussed topic; however, a lack of unanimous scientific definition and detailed research on this economic model complicates understanding of digital technologies. It is essential for each government to analyse the model and focus on the improvement of the digital economy in order to ensure that the country remains digitally competitive in the world.</abstract>

Digital Economy and Society: Baltic States in the EU Context

<abstract><title style='display:none'>Abstract</title>Despite the initial function of hashtags as tools for sorting and aggregating information according to topics, the social media currently witness a diversity of uses diverging from the initial purpose. The aim of this article is to investigate the communicative functions of hashtags through a combined approach of literature review, field study and case study. Different uses of hashtags were subjected to semantic analysis in order to disclose generalizable trends. As a result, ten communicative functions were identified: topic-marking, aggregation, socializing, excuse, irony, providing metadata, expressing attitudes, initiating movements, propaganda and brand marketing. These findings would help to better understand modern online discourse and to prove that hashtags are to be considered as a meaningful part of the message. A limitation of this study is its restricted volume.</abstract>

Communicative Functions of Hashtags

<abstract><title style='display:none'>Abstract</title>Well-conducted recruitment and selection process is extremely important for the organization, permitting in-depth and objective verification of candidates in terms of meeting employer’s expectations and leads to their employment. Up to now, there has been little research on the impact of e-recruitment on the recruitment process as a whole. The present study fills part of this gap by investigating the effect of e-recruitment on the design of the recruitment process. Therefore, the main purpose of the paper is to analyze how new technology has influenced the recruitment process as a whole. The recruitment process will be presented on the example of ItutorGroup. The paper considers the possibilities of including modern technologies in the recruitment and selection strategies of the organization based on a case study method. The case study describes the project of cooperation of the Work Service personnel consultancy with the international organization ItutorGroup. Its selection and recruitment strategy was based on video-recruitment. The findings indicate that e-recruitment transforms the traditional recruitment process into a time- and space-independent, collaborative hiring process. The most significant changes are recorded in the sequence and increased divisibility of main recruitment tasks. For management, the main task is now that of communicating with candidates. Recruitment and selection strategy based on modern technologies requires an experienced and competent team, two unquestionable benefits are: limiting the length of the process in time and possibility to decrease the costs.</abstract>

New Technologies in the Recruitment Process

<abstract><title style='display:none'>Abstract</title> Innovation is essential for economic growth in developed countries. One of the most important sources of innovation is human capital. In this article, state of human capital in EU countries is investigated in order to show the relationship between human capital and national innovation performance. In the first part, theoretical assumptions of human capital importance for innovation processes are analysed. Secondly, measures of human capital are analysed and a measurement model is presented. This model is applied for investigation of state of human capital in 26 EU countries during 2002-2012. Results showed that quality of human capital is the most important factor for innovation performance. Quality indicators have even higher correlation with innovation in countries with low share of innovative enterprises (enterprises with high-level of new technology acceptance and usage). The aim of research is to analyse the theoretical importance of human capital investment for national innovation capability in EU countries, and to determine human capital aspects that foster innovation performance. Therefore, objectives are as follows: to analyse theoretical assumptions of human capital importance for innovation processes and to present the current state of research; to analyse available human capital measures and create a human capital measurement model; and to analyse state of human capital in EU countries as well as its relationship with national innovation capability.</abstract>

The Role of Human Capital for National Innovation Capability in Eu Countries

<abstract><title style='display:none'>Abstract</title><bold>Research purpose.</bold> The development of financial technology sector (<italic>fintech</italic>) poses a challenge for traditional financial institutions. Therefore, it is important to analyze not only how financial technologies can change, but also how the fintech sector affects banks and their profitability. The aim of the paper is to analyze the possibilities for the development of financial technology sector and quantitatively evaluate its impact on the banking sector’s profitability in Lithuania.<bold>Design / Methodology / Approach.</bold> After the analysis of academic literature and statistical data, the authors used expert evaluation method in order to identify development opportunities of <italic>fintech</italic> in Lithuania and correlation-regression analysis was applied to evaluate the impact of <italic>fintech</italic> on the profitability of the Lithuanian banking sector.<bold>Findings</bold>. According to the results of expert assessment research, Lithuania possesses favorable conditions for <italic>fintech</italic> enterprises to enter the Lithuanian finance market; it is expected that this sector will continue to rapidly expand mostly in payments and banking business models. Correlation-regression analysis showed that <italic>fintech</italic> indicators has an effect on the banking sector’s profitability but the effect in not very significant. The significance of the connection is lower because banking sector adapts technologies and is influenced by <italic>fintech</italic> from inside and outside the environment.<bold>Originality / Value / Practical implications.</bold> The <italic>fintech</italic> sector in Lithuania is still new and so far very little researched. The outcomes of this research have expanded the scope of research of the Lithuanian <italic>fintech</italic> sector. The obtained results would be useful and relevant to (i) the government sector to manage risks and ensure stability in the financial sector; (ii) financial sector entities to monitor possible developments and prepare them accordingly; and (iii) banking sector to analyze the impact of technology and <italic>fintech</italic> entities on them and take strategic decisions in this regard.</abstract>

greta.keliuotyte-staniuleniene@evaf.vu.lt

Possibilities for Financial Technology Sector Development and its Impact on Banking Sector Profitability in Lithuania

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Economics and Culture

Aims and Scope  Journal Economics and Culture is a international open-access journal that publishes original scientific papers on the latest empirical and...

Aims and Scope  Journal Economics and Culture is a international open-access journal that publishes original scientific...