László Erdey

Supply chain resilience is vital to the long-term operation of enterprises. With the concept of sustainable development becoming deeply ingrained globally, enterprises are actively implementing environmental, social, and governance (ESG) practices. Based on panel data of China’s A-share listed firms spanning 2010 to 2023 and ESG rating datasets sourced from Sino-Securities, this paper systematically investigates the associations, configurational mechanisms, and heterogeneous boundary conditions linking corporate ESG performance to a firm-level bullwhip-effect proxy. Baseline empirical results reveal that higher-quality ESG performance is associated with a significant reduction in the bullwhip-effect proxy. To move beyond the restrictive net-effect paradigm of traditional regression frameworks, this study adopts fuzzy-set qualitative comparative analysis (fsQCA) to unpack complex multi-factor configurational pathways. We select firm-level conditional antecedents and explore their joint combinatorial effects with ESG engagement in curbing the amplification of demand volatility along supply chains. It further identifies six equifinal configurational paths, including ESG compensation-oriented, operational agility-oriented, non-ESG internal governance-dominated, state ownership-backed, and stability-driven configurations. These distinct combinations suggest that enterprises can pursue supply chain stability via differentiated governance portfolios, thereby highlighting multiple equifinal strategies to foster supply chain resilience under heterogeneous institutional and operational environments. Collectively, the empirical evidence suggests that ESG strengths can be converted into operational resilience dividends, delivering theoretical implications for sustainable supply chain management research within emerging market contexts.

Rapid global digitalization has propelled the proliferation of digital trade rules, yet governance remains highly fragmented. This PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analyses) compliant systematic review of 63 articles synthesizes the evolutionary trajectory, multidimensional impacts, and methodological foundations of these rules. Findings reveal that digital trade governance has evolved into highly binding, fragmented frameworks driven by divergent strategic paradigms. Economically, high-standard provisions reduce cross-border frictions and facilitate countries' upgrading within global value chains. However, non-economic consequences are mixed: they lower trade-embodied carbon emissions but ignite structural tensions surrounding data privacy, algorithmic governance, and the North-South divide. Methodologically, research is maturing towards quantitative evaluations, yet strong causal designs remain scarce. This review provides policymakers an evidence-based foundation to balance digital liberalization with regulatory autonomy and offers a roadmap for future causal inquiry.

This study explored the impact of social conformity when participants encountered unanimous responses from bots to both objective and subjective questions. Seventy-two participants from Heidelberg University participated in a simulated “Quiz Show”, answering general knowledge and opinion-based questions on economic policy. Using a within-subject design, participants first responded independently, then saw answers from three bots modeled after Asch’s classic conformity studies, which were displayed with usernames and profile pictures generated by artificial intelligence. The results showed significant conformity for both objective and subjective questions, regardless of whether the bot responses aligned with or opposed the initial beliefs of the participants. Gender differences emerged, with women showing higher conformity rates, as well as conformity in objective and subjective contexts appeared to be driven by distinct personality traits.

Driven by the need to diversify financing channels and the incentives arising from globalization, the inevitable transition to international accounting systems may provide companies opportunities for accounting manipulation. The main objective of our study is to investigate whether the transition to IFRS significantly affects the reliability of financial statements of pharmaceutical and energy companies operating in Hungary. For this purpose, two econometric models were applied: firstly, a binary logistic regression-based analysis of the Beneish M-Score values, and secondly, a modified Jones model based on a linear regression estimation of discretionary accruals. The research findings showed no clear significant relationship for the Beneish M-score values. However, application of the Jones model to the financial statements that companies prepared for the same year according to different standards revealed a negative shift in the deviation of discretionary accruals from their normal value. This was observed in the energy sector among the companies transitioning to IFRS, which suggests a greater use of cost accounting opportunities by industry players. Nevertheless, these modelling results can only indirectly support the potential investor concerns about the change in accounting systems and they do not diminish the importance of the potential institutional incentives and benefits of the transition.

This study aims to investigate the relationship between organizational commitment, training perception, organizational support, and organizational citizenship behavior within the banking sector. Data were gathered from 250 employees of commercial banks in Dhaka, Bangladesh, utilizing an online survey questionnaire. This quantitative and exploratory study ultimately analyzed a final sample of 200 participants, using a convenience sampling method. A five-point Likert scale was applied to assess replies, with “1” signifying “Strongly Disagree” and “5” signifying “Strongly Agree.” SPSS was applied to test the research model. A positive and significant relationship was revealed between organizational commitment, perception of training, organizational support, and citizenship behavior. Based on these findings, bank management should leverage organizational commitment, perceived training, and perceived organizational support to enhance citizenship behavior among employees, thereby improving overall bank performance. The perceived training (β = 0.287; p < 0.05) had the highest effect on organizational citizenship behavior, while organizational commitment (β = 0.275; p < 0.05) had the lowest effect on organizational citizenship behavior. Specifically, the standardized beta coefficient for perceived training suggests that improvements in employee perceptions of training are associated with notable increases in organizational citizenship behavior, making it the most influential factor in this analysis. In comparison, organizational commitment, with a lower beta coefficient also positively affects organizational citizenship behavior, but to a lesser degree than perceived training. The results of this study are advantageous for the banking industry and strategists seeking to promote organizational citizenship behavior among their employees.

Bár Oroszország képes volt a nyugati stratégiai embargók kijátszására, jelen tanulmány rámutat arra, hogy ez nem a szankciók kudarcát jelzi. A szankció olyan mechanizmus, amely jelentős gazdasági költségeket ró az érintettekre, más szereplőket pedig korábban el nem érhető járadékban részesít. A tanulmány részletesen elemzi az Oroszországgal szemben bevezetett stratégiai embargó hatásait a kettős felhasználású – az Európai Unió és szövetségesei által „közös magas prioritásúnak” minősített és nevezett – termékek körében. A tanulmány a rendelkezésre álló legrészletesebb és legfrissebb adatokra támaszkodva és szélesebb kitekintésben igazolja, hogy Oroszország elszigetelése rövid távon viszonylag sikertelen maradt az említett termékcsoportban. A geopolitikai kapcsolatok felborult rendszerében a szankciók felerősítettek néhány már korábban kezdődött elmozdulást, illetve bizonyos esetekben nem várt következményekkel is jártak. A külkereskedelem közvetítő államokon keresztül történő lebonyolítása a kritikus áruk jelentős áremelkedéséhez és minőségének romlásához vezetett Oroszországban. A szankciók hatékonyságát nem a teljes blokád egyébként is elérhetetlen követelményei alapján célszerű értékelni, hanem aszerint, hogy képesek-e tartós gazdasági és stratégiai feszültséget okozni a célállamban. Ez a tanulmány egyik leglényegesebb következtetése célszerű értékelni, hanem aszerint, hogy képesek-e tartós gazdasági és stratégiai feszültséget okozni a célállamban. Ez a tanulmány egyik leglényegesebb következtetése.

In this study, we examine the critical question of whether global equity and bond assets (both green and non-green) offer effective hedging and safe haven properties against stock market risks in South Asia, with a focus on Bangladesh, India, Pakistan, and Sri Lanka. The increasing integration of global financial markets and the volatility experienced during recent economic crises raise important questions regarding the resilience of South Asian markets and the potential protective role of global assets. Drawing on methods like VaR and CVaR tail risk estimators, the DCC-GJR-GARCH time-varying connectedness approach, and cost-effectiveness tools for hedging, we analyze data spanning from 2014 to 2022 to assess these relationships comprehensively. Our findings demonstrate that stock markets in Bangladesh experience lower levels of downside risk in each quantile; however, safe haven properties from the global financial markets are effective for Bangladeshi, Indian, and Pakistani stock markets during the crisis period. Meanwhile, the Sri Lankan stock market neither receives hedging usefulness nor safe haven benefits from the same marketplaces. Additionally, global green assets, specifically green bond assets, are more reliable sources to ensure the safest investment for South Asian investors. Finally, the portfolio implications suggest that while traditional global equity assets offer ideal portfolio weights for South Asian investors, global equity and bond assets (both green and non-green) are the cheapest hedgers for equity investors, particularly in the Bangladeshi, Pakistani, and Sri Lankan stock markets. Moreover, these results hold significant implications for investors seeking to optimize portfolios and manage risk, as well as for policymakers aiming to strengthen regional market resilience. By clarifying the protective capacities of global assets, particularly green ones, our study contributes to a nuanced understanding of portfolio diversification and financial stability strategies within emerging markets in South Asia.