Papers by Zuzana Kreckova
Visegrad countries are facing similar issues related to underrepresentation of women in the corpo... more Visegrad countries are facing similar issues related to underrepresentation of women in the corporate decision making positions. Female population outnumbers the male one in the tertiary education attainment. The employment level of women is also high across all four counties. However, men outnumber women in the decision making positions at large corporations. Three out of four Visegrad countries did not adopt any measure to improve the situation in balancing the gender representation at boards. The article introduces outlook based on the model of organic growth. The results are not positive enough to let the situation as it is now. So, the situation calls for interventions.
Representation of women on corporate boards is minor to insignificant in most of European countri... more Representation of women on corporate boards is minor to insignificant in most of European countries. However, numerous studies prove that women at top positions of corporations mean financial benefits, more ethical corporate governance and better focus on sustainability. At the same time Europe is facing globalization pressures and aging population, which calls for using every talent the Europe possesses. European Commission recently proposed the new legislation supporting female presence at corporate boards, but numerous countries are strongly resistant to that. However, the organic growth in these numerous countries is not strong enough to satisfy the economy needs.
Composition of corporate boards shows very low presence of women at nearly all developed countrie... more Composition of corporate boards shows very low presence of women at nearly all developed countries, although women represent more than half university graduates and more than half labour force in this part of the world. Also, several studies show better financial results of companies that have women actively present on boards. The paper presents situation at key world markets, with special focus on Romania and Bulgaria within the European perspective. The paper demonstrates that the number of women on boards has declining trend in Romania and Bulgaria. Consequently, the paper suggests implementation of provisions to reverse the trend and to reach proposed quota by European Commission of 40% of women on corporate boards.
Politická ekonomie, 2016
The article examines the relationships between selected gender and economic indicators ofchosen c... more The article examines the relationships between selected gender and economic indicators ofchosen countries (OECD countries, EU countries, associate members of OECD and high-incomecountries) and evaluates situation of the Czech Republic in international comparison. Gender indicator values for the Czech Republic were compared both within the time period (years 2006–2014) and with summary statistics for the EU countries. Further, based on four subindexes of the global gender gap index (GGI), similarity of the Czech Republic and other countries in time comparison were expressed. Multidimensional scaling and cluster analysis were applied for graphical expression of relationships of the high-income and EU countries. Positive correlation of indicators reflecting women participation in political and economic life was identifi ed in the OECD countries. Moreover, gender equality and the competitiveness, sustainability of economies andGDP per capita positively correlate in the group of these co...
Prague Economic Papers, 2016
The paper attempts to assess the added value of women in management in the context of the Czech R... more The paper attempts to assess the added value of women in management in the context of the Czech Republic. The wider purpose is to contribute to the debate for the need of gender-balanced top managerial teams. It additionally contributes new inputs to the discussion as to whether quotas or other special measures are relevant to promote or engage more women in higher management positions within both the Czech public and private sectors. According to the results, Czech respondents view women as added value to management given the different characteristics of their approach over that of their male counterparts. However, the research reveals that women who obtain higher managerial positions demonstrate the same set of characteristics as men. In conclusion, the promotion system is designed for candidates that demonstrate typically male characteristics.
Acta Oeconomica Pragensia, 2009
This article describes the presence of women in the top corporate positions in the developed coun... more This article describes the presence of women in the top corporate positions in the developed countries of Europe, U.S.A. and the Czech republic. The article compares the women representation with the cultural dimensions of Geert Hofstede. The author also describes the situation in the Czech republic, naming companies with the most favorable programs of equal opportunities.
Central European Business Review, 2015
The article analyzes Shared Value (CSV) implemented projects by regions, social issues, and indus... more The article analyzes Shared Value (CSV) implemented projects by regions, social issues, and industries that are involved in pursuing the CSV concept. Project preferences by region show South America, Central America and Caribbean, Global scope and Africa as key targets of CSV projects, followed by North America and Asia. Europe, both Western and Eastern, is at the edge of interest with only several projects implemented. Project preferences by industry clearly show that companies capitalize on their strengths and professional focus. Analyzed Shared Value projects proved simultaneous value to a wide range of corporate stakeholders by creating new products or services, redefining productivity in the value chain or enabling local cluster development. Given the strategic nature of CSV projects, top management initiative is necessary. Numerous world-wide proven Shared Value business cases could serve as inspira-tion for Central European leaders in creation of their future strategies. Succ...
Publikace zachycuje genezi společenské odpovědnosti podniků v uplynulých přibližně patnácti letec... more Publikace zachycuje genezi společenské odpovědnosti podniků v uplynulých přibližně patnácti letech. Soustřeďuje se na kritickou analýzu dvou konceptů – Porterovy a Kramerovy myšlenky vytváření sdílené hodnoty (shared value) jako společensky odpovědné podnikové strategie a globální vůdcovství (global leadership) jako nových požadavků na lídry globálně integrovaných firem. Odpovídá na tyto otázky: Může se společenská odpovědnost stát součástí filozofie a strategie podniků, jejichž hlavním cílem je vytváření ekonomické hodnoty – zisku, návratnosti investic, růstu hodnoty pro akcionáře? Může zákonná regulace ze strany místních vlád změnit mezinárodní strategie globálně operujících nadnárodních společností?
This monograph includes the research results of the V4 Survey 2013-2014 prepared and conducted wi... more This monograph includes the research results of the V4 Survey 2013-2014 prepared and conducted within the project no. StG-21310034 entitled “Patterns of Business Internationalization in Visegrad Countries – In Search for Regional Specifics” financed by the International Visegrad Fund in the years 2013-2014 and coordinated by Cracow University of Economics (Poland) in the cooperation with four partner universities (University of Economics in Prague, Czech Republic; University of Miskolc, Hungary; Slovak University of Agriculture in Nitra, Slovakia; Gdańsk University of Technology, Poland) and three associate partners (Fachohochschule Joanneum in Graz, Austria; University of Zagreb, Croatia; as well as Technical University of Cartagena, Spain).The project has been mainly financed by the International Visegrad Fund based in Bratislava within the scheme of Standard Grants and co-financed by Cracow University of Economics. The project has aimed to integrate researchers from V4 countries ...
Mekhanizm Rehuluvannya Economiky, 2016
Recent decade proved corporate focus on pure profit-maximization as badly selected strategy for t... more Recent decade proved corporate focus on pure profit-maximization as badly selected strategy for the long-term growth and sustainability. The pressure from stakeholders as well as search for new sources of revenues gave birth to the Shared Value concept creation by Michael Porter. The concept that should be able to satisfy both profit creation and address some of pressing social issues. The paper presents own research based on the methodology of Shared Value Initiative. Comparative research, specifically crossregional comparisons, as well as, cross-comparison of the regions and the social issue were used as a data analysis method. The exclusive Shared Value Initiative Case Examples database describing 164 implemented corporate projects around the world was analysed, both by geographical regions and social issues addressed. The analysis shows polarization of regions. While several regions magnetize Shared Value projects (Global-scale, South America, Central America and Caribbean, Nort...
Journal of Business Strategy, 2020
Purpose The purpose of this paper is to investigate the impact of ransomware cyber-attacks “Wanna... more Purpose The purpose of this paper is to investigate the impact of ransomware cyber-attacks “WannaCry” and “Petya” on stock prices of publicly traded companies in the European Union. The study analyses a set of case studies related to largest recent cybercrime events, which happened in the first half of 2017. The study answers two questions, what is the impact of cybercrime to public companies? How do cybercrime announcements and publications affect stock prices? Design/methodology/approach Using archival financial data, an event study methodology was used to assess the impact of cybercrime activity on market value of European companies affected during WannaCry and Petya ransomware attacks in 2017. Findings The results suggest that announcements of information breaches because of ransomware exploits have impact on stock market returns. There is evidence of positive investors` reactions to the announcements. Specifically, there was little impact of “Wannacry” ransomware attack on mark...
Food Quality and Preference, 2016
This exploratory study investigates how consumer knowledge influences willingness to buy (WTB) in... more This exploratory study investigates how consumer knowledge influences willingness to buy (WTB) insect food products. A comparative approach between Northern and Central Europe is adopted to explore whether consumer knowledge has different effects on WTB across cultural areas in Europe. The study analyses consumer survey data collected in Finland, Sweden, Germany, and the Czech Republic (N=887) with structural equation modelling and multi-group models. The results suggest that the effects of distinct types of knowledge and food neophobia on WTB are mainly indirect and mediated by general attitudes, with these effects differing significantly between Northern and Central Europe. In Northern Europe, the consumers' objective and subjective knowledge of insect food predict WTB as much as previous productrelated experiences and food neophobia. In Central Europe, product-related experiences and food neophobia are superior predictors to subjective and objective knowledge. Moreover, consumers in Northern Europe generally have a more positive attitude towards insect food than consumers in Central Europe. Possible explanations for the regional differences are discussed, and implications are suggested on how the region-specific features should be regarded when developing consumer education and promotion strategies for insect food.
Acta Oeconomica Pragensia, 2008
This article deals with the problem of the lack of talented employees across industries, from the... more This article deals with the problem of the lack of talented employees across industries, from the low-tech to the high-tech, as well as across countries, from the developed to the developing ones.The author includes among the key causes the increase in "intangible assets', ageing populations, exhausted and demoralized workforce, the mismatch between education and corporate needs, and errors in talent management.The author sees possible solutions to this situation for corporations in searching for talents in "unexplored' areas, for example among women and immigrants, approaching talents as soon as possible, employing more part-time and older workers, and finally offering employees more than just good salary - an interesting and demanding job, open two-way communication between the subordinate and the bosses and opportunities for employees' growth and development.
Central European Business Review, 2015
This paper analyzes the state of corporate sustainability in the Czech Republic compared with wor... more This paper analyzes the state of corporate sustainability in the Czech Republic compared with world trends, including case studies of best practices. Corporate sustainability has developed from ad hoc activities dominantly focused on cost-cutting or corporate image improvements to strategic issue requiring the attention of corporate boards and top management. The development of sustainability as an integral part of corporate existence comprises of the following managerial implications: strategy, collaboration, and implementation. The strategic component requires mission reformulation, strategy redefinition and involves the board and top managers’ broader thinking, leaders capable of open mindedness, and creativity. The collaborative component calls for intensive collaboration and communication with all stakeholders, including association with avant-garde partners, such as, NGOs, regulators, universities, and competitors. The implementation component addresses the need for high quali...
Presence of women on corporate boards is very low across nearly all developed countries, although... more Presence of women on corporate boards is very low across nearly all developed countries, although women represent more than half university graduates and more than half labour force. Further, evidence shows that corporations with women actively present on boards report better financial results. The paper presents situation at key world markets, with special focus on Czech and Slovak situation within European perspective. The paper demonstrates that the recent growth rate of women on boards at Czech and Slovak Republics would need another 34, and 38 years respectively, to reach currently proposed quota by European Commission of 40% of women on corporate boards.
Engineering Economics, 2012
The purpose of this study is to examine consumer tendencies within the economic crisis, to examin... more The purpose of this study is to examine consumer tendencies within the economic crisis, to examine consumer ethnocentrism (CE) among CEE consumers and its character and influence on buying domestic and foreign products. Based on broad existing theoretical and empirical knowledge, we constructed measures for this research derived from existing literature. The hypotheses were tested through structural equation modeling. The analyzed sample consisted of 199 Czech respondents. The results confirm effect of CE on buying behavior as well as national identity influence on CE. In the Czech context, CE significantly and positively influenced domestic purchase behavior. Alternatively, there was only a marginal influence of CE supported its negative effect on foreign purchase behavior. Cosmopolitanism did not affect CE in the Czech context. Therefore, the research findings suggest a prevalent influence of CE on buying behavior under conditions of economic crisis. The paper concentrates on ignored area that was very hard hit by economic crisis in Central and Eastern Europe. The findings provide useful information to marketing specialists in designing their marketing strategies for local "made-in" communication campaigns. In addition, implications for retailers to evaluate their merchandise assortment portfolio are implied from the findings. We build on the positive influence of CE on buying behavior of domestic products versus foreign, and infer preference for freshness and quality of goods. This suggest implications for public policy implications related to local job creation and employment, especially within the area of small local producers, self-employment, development of local agriculture, as well as countryside maintenance. This issue seems to gain more importance and attention given the nature of the global economic crisis for consumers, producers, retailers and government. Potentially, there appears to be significant carryover effect related to the present and future integration processes of the CEE economies.
ABSTRACT The global economy is ever more interconnected. Cultural diversity of employees is becom... more ABSTRACT The global economy is ever more interconnected. Cultural diversity of employees is becoming an important competitive advantage for companies. This publication provides conclusions from research into Czech and Slovak national cultures and their implications for people management. It brings the first comprehensive and valid analysis of the cultural specifics of the Czech and Slovak management environment compatible with international standards, and analysis of changes in Czech culture over the period of the past 20 years. The research is based on the methodology of Fons Trompenaars. Both cultures were assessed with a view to another approx. 50 monitored countries from all over the world. The conclusions are compared with works of G.Hofstede & I.Novy. The book provides a wide range of practical recommendations for management of Czechs and Slovaks, including uncovering critical areas for potential conflicts between these two cultures. It is suitable for managers, HR specialists, trainers, coaches and students of international management. The conclusions can help on creation of multicultural teams at work to support flexibility, creativity, innovation and organizational learning.
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Papers by Zuzana Kreckova