Drahomíra Pavelková

The age of clusters and its influence on their activity preferences

AbstractThe aim of this paper is to determine whether there exist age dependent differences in the orientation of clusters’ activities. The literature depicts different approaches to the cluster evolution process, highlighting that clusters are subject to a life cycle that emphasizes different sets of activities in various stages of their development. These activities appear to follow a certain trajectory, whereby the successful completion of initial less-intensive activities stimulates a shift in focus to more demanding, long-term projects. The presented research verifies that clusters can pass through different stages of development, and examines in detail their preferences for jointly-undertaken activities. Research, conducted on a sample of clusters of different countries and ages, was carried out through the use of questionnaires and structured interviews with cluster managers. It is a sample of so-called organized clusters, which have their own internal structure and which are characterized by consc...

Predictive power of the ZEW sentiment indicator: Case of the German automotive industry

16-25536S, GACR, Grantova Agentura Ceske Republiky; GA CR, GACR, Grantova Agentura Ceske Republiky

Moderating and mediating effects of switching costs on the relationship between service value, customer satisfaction and customer loyalty: investigation of retail banking in Vietnam

Switching cost highlights the way how companies create barriers to proactively prevent customer defection which directly and significantly affects customer loyalty and then companies’ performance. The purpose of this paper is to provide empirical evidences about the impact of switching cost on customer loyalty by examining its mediating and moderating effects on the relationships between service value, customer satisfaction and customer loyalty. Specially, two difference types of switching costs, positive one and negative one, are proposed and tested independently in order to provide more insights about their impacts. The data about switching costs and other constructs are collected from 261 retail banking customers, and analysed using structural equation modelling and moderated path analysis. It is found that positive switching costs increase customer loyalty by partly transforming the effect of service value and customer satisfaction into customer loyalty. While negative switching cost only mediates the service value-loyalty relationship. Moreover, only negative switching cost has significant moderating effect on the satisfaction-loyalty relationships. Finally, the analysis reveals that negative switching cost might also weaken good impacts from positive switching cost on satisfaction-loyalty relationships.

Portfolio Risk-Return Analysis: The Case of the Automotive Industry in the Czech Republic

Risk has always been the concern of managers and shareholders as a part of decision-making processes. Managers tend to control unsystematic risk mostly while trying to minimize the exposure to systematic (market) risk. The paper aims to assess the risk level and risk-return tradeoffs for the companies operating in Czech automotive industry. A diversification formula and calculation of returns using return-on-equity were employed on the yearly basis from 2005 till 2014. The returns and risk calculations were conducted on the portfolio of auto manufacturers, followed by the portfolio of auto suppliers, while the third one was performed for suppliers and manufacturers taken together. The results of the study show that the average correlation coefficient tends to decrease when we move from manufacturers to suppliers, while increasing when we join manufacturers and suppliers in one portfolio. The highest diversification benefit has been reached in the portfolio of auto suppliers. The highest risk is manifested for the portfolio of manufacturers, while the lowest – in the portfolio of auto suppliers. Risk level declined when we joined manufacturers and suppliers in comparison with risk of manufacturers alone. However, the lowest risk and the highest risk-return tradeoff were achieved in the portfolio of suppliers.

Cluster policy in Europe and Asia: A comparison using selected cluster policy characteristics

Currently, cluster concept is one of the most important tools for governments to enhance competitiveness and innovations through sectoral specialization and cooperation. The paper focuses on applications of the cluster policy in the distinct territorial context of Europe and Asia so that to perform a comparison between different approaches to the cluster concept application in real practice. The paper introduces a comparative study of the cluster policy concepts based on the characteristics defined by the authors, such as scope, approach, targeting, autonomy, institutional coordination, policy instruments and evaluation system studied for the selected European and Asian countries such as Denmark, France, Germany, China, Japan, and South Korea. The research draws upon processing the secondary data obtained through content analysis of the related literature, government documents and strategies, and also cluster funding programmes. The findings demonstrate the diversity of cluster policies implemented in the context of European and Asian conditions at the current stage of their development.

A Knowledge Management Literature Review based on Wiig´s Prognosis of 1997

Knowledge is an important asset that can result in innovation and competitive advantage for companies. This paper provides a literature review based on perspectives proposed in a paper written by Karl M. Wiig almost two decades ago which forecasted development of Knowledge Management. The aim of this paper is to compare Wiigâ??s predictions with the current state of Knowledge Management literature to see how true his forecasts turned out to be. Moreover, the current literature is reviewed in order to find out which subtopics of Knowledge Management should be key topics for future research.