Damijan Mumel

The evaluation of environmental, social and governance (ESG) risks is an important yet challenging aspect of the investor decision-making process, largely attributable to the volatility of this domain. A significant proportion of these challenges arise from divergent ESG ratings, which are the consequence of absence of clarity and consistency in definitions, data, and rating methodologies. A review of the existing literature revealed that no article summarized findings related to the evaluation of ESG risks based on uniform definitions, which would help with understanding and measure development. The aim of this paper is to address ESG risks evaluation issues through a critical review of literature and deconstruction of associated issues, providing both theoretical and practical insights. The literature review began with the definition of ESG risks, which served as a foundation for the deconstruction and analysis of the ESG risk evaluation process. The findings indicate that there are numerous issues related to the evaluation process, starting with the definition of ESG, continuing through reporting and data issues, which ultimately leads to issues with the evaluation process itself. The conclusion drawn from this analysis is that usability is contingent upon the clarity of definitions and comprehension, thereby ensuring the efficacy of the ratings for investors and other stakeholders.

This study explores the characteristics of individual investors in crypto asset markets using machine learning and explainable artificial intelligence (XAI) methods. The primary objective was to identify the most effective model for predicting the likelihood of an individual investing in crypto assets in the future based on demographic, behavioral, and financial factors. Data were collected through an online questionnaire distributed via social media and personal networks, yielding a limited but informative sample. Among the tested models, Efficient Linear SVM and Kernel Naïve Bayes emerged as the most optimal, balancing accuracy and interpretability. XAI techniques, including SHAP and Partial Dependence Plots, revealed that crypto understanding, perceived crypto risks, and perceived crypto benefits were the most influential factors. For individuals with a high likelihood of investing, these factors had a strong positive impact, while they negatively influenced those with a low likelihood. However, for those with a moderate investment likelihood, the effects were mixed, highlighting the transitional nature of this group. The study’s findings provide actionable insights for financial institutions to refine their strategies and improve investor engagement. Furthermore, it underscores the importance of interpretable machine learning in financial behavior analysis and highlights key factors shaping engagement in the evolving crypto market.

The purpose of this research paper is to develop a comprehensive assessment model to examine how different forms of airport ownership affect the design and construction of airport passenger terminals. The study emphasises the development and justification of the research framework through an extensive literature review and theoretical foundation. The significance of this research lies in the need for a thorough understanding of the relationship between airport ownership forms and the execution of passenger terminal projects. The literature review identifies gaps in existing research and underscores the necessity of a new research framework. The chosen research approach, which includes interviews and case studies, is carefully justified. The paper systematically outlines the key elements of the research framework, linking them to relevant literature and theoretical concepts. By providing a step-by-step development of the research framework, this paper lays the groundwork for future investigations in this area. The conclusion summarises the key points presented in the article and emphasises the importance of the developed research framework in guiding further research efforts.

Sustainability gets higher on the policy agenda of many countries in terms of the UN Sustainable Development Goals. Unethical tax behaviour diminishes the tax system’s sustainability, but paying taxes is necessary if we want to contribute to society. There is a deeper need to understand the factors that influence taxpayers’ perceptions, personal values and personal tax culture. Previous research by the OECD (2013, 2019) using the World Values Survey (WVS) did not provide a sufficient explanation of all the socio-economic factors associated with personal tax culture. As the behaviour of an individual is shaped by a set of values, and values can provide predictive and explanatory power in the analysis of attitudes, opinions and actions by policymakers, it is necessary for them to understand such when proposing tax morale incentives within the institutional pillar. A literature review showed that the research topics on personal tax culture present specific assumptions and gaps. To contribute to this topic, a conceptual model was developed, and the relationship between personal values (conservation/self-enhancement), measured by the widely accepted and recognised Schwartz’s circular model, and personal tax culture was analysed with the aim of formulating recommendations for policymakers. The survey conducted in Slovenia involved 202 respondents. Based on exploratory factor analysis and the performed correlation analysis, empirical research suggests that a relationship between personal values and personal tax culture as the cornerstones of an individual’s tax-compliant behaviour and their attitude towards the ethics of tax evasion is significant. The correlation between personal values and an individual’s attitude towards the tax system is insignificant. By understanding the relationships between individuals’ personal and tax culture values, policymakers can achieve a greater sustainable tax system.

Purpose: The purpose of this paper is to measure attitudes towards cosmetic surgery services among women and to determine the potential segments of women according to their attitudes towards cosmetic surgery services and discover the main differences among them. Design/methodology/approach: The research was implemented on a sample of 258 women in Slovenia. A quota sample was chosen for this research following the age characteristics of the Slovenian female population. The data collection method used was personal interviews. Convergent validity for the attitudes towards cosmetic surgery services was assessed with exploratory factor analysis. The segmentation analysis procedure was implemented in two phases. First, hierarchical clustering with Ward’s method was deployed, and in the second step K-means cluster analysis was used. Findings: The results show that four clusters were clearly distinctive according to three dimensions, namely, intrapersonal, social and consider component. In further analysis, four segments of women were analysed regarding the fear of ageing, the importance of appearance, body image and self-esteem. Results show that all four segments are unique and distinguish one from another. Practical implications: Through segmentation analysis, authors of this study indicate two segments (target groups) that are possibly interesting for providers of cosmetic services. Marketing communication activities should mainly be focussed on the woman’s appearance. Originality/value: Based on a theoretical hypothesis and use a quantitative method, the aim of this paper is to provide a deeper analysis and understanding of attitudes and views of different woman profile regarding cosmetic surgeries. It presents a more structured view on differences that exist among segments of female consumers while also adding new insights into the factors that influence attitudes towards cosmetic procedures.

This study aims to investigate the relationship between spiritual intelligence and work satisfaction among both leaders and employees. Most studies in this area have focused on researching the relationship between employees’ spiritual intelligence and work satisfaction, so we also researched the relationship between leaders’ spiritual intelligence and work satisfaction. Our leading thesis was that leaders and employees with a higher level of spiritual intelligence have a higher level of work satisfaction. In our study, we found no significant relationship between spiritual intelligence and work satisfaction for leaders, but we found a significant positive relationship between spiritual intelligence and workplace satisfaction for employees.

Theories often describe leadership with different classifications, based on personality and behaviour, and have been used to establish the traits and behaviours that determine an effective leadership style. We used the quantitative methodology to investigate the determinants of the leadership style among nursing leaders in Slovene hospitals. Based on the results, we determined that demographic characteristics such as gender, age, length of employment, and level of education do not affect the choice of the leadership style. Internal organizational characteristics such as job position, emotional intelligence, communication, personal characteristics, and the decision-making process are positively associated with the leadership style. Personal characteristics are considered important when it comes to using specific leadership styles, regardless of the choice of the leadership style, which also depends on the situation and external influences.

Companies use different marketing activities to communicate with the environment. These decisions are often a result of past experiences, habits or a certain influences. Measuring the efficiency of a communication mix as well as analyzing the effect of using a specific marketing communication activity on different business performance determinants are usually neglected. This paper might contribute to this problem as it focuses on the correlation between marketing communication activities and the business performance of a company through two aspects: a) the frequency of using a specific marketing communication activity and its correlation to business performance determinants; b) the correlation between the number of marketing communication activities that a company uses and its business performance determinants. We found statistically significant relationships (positive and negative) among some variables. The results helped us interpret which activity a company should use in order to increase customer loyalty, which activity helps raise net profit, and how many marketing communication activities should a company employ to optimise business performance. With this, managers have obtained basic guidelines when building their marketing communication mix.