Exogenous Stability and Sustainable Development of Energy Enterprises in the V4

Kowalska, Magdalena; Misztal, Anna; Gniadkowska-Szymańska, Agata

doi:10.29119/1641-3466.2023.176.18

Artykuł - szczegóły

Czasopismo

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

2023 | z. 176 Contemporary management = Współczesne zarządzanie | 293--318

Tytuł artykułu

Exogenous Stability and Sustainable Development of Energy Enterprises in the V4

Autorzy

Magdalena Kowalska , Anna Misztal , Agata Gniadkowska-Szymańska

Warianty tytułu

Języki publikacji

Abstrakty

Purpose: The paper's main aim is to assess the impact of macroeconomic, social and environmental stability on the sustainable development of energy enterprises in the Visegrad Group (V4: the Czech Republic, Hungary, Poland and Slovakia) from 2008 to 2020. Design/methodology/approach: To assess a statistically significant relationship, we use the correlation coefficients, the Ordinary Least Squares and the Seemingly Unrelated Regression method. Findings: The research results indicate that macroeconomic, social and environmental stability have a statistically significant impact on the sustainable development of the energy sector. Research limitations/implications: The sample size is small for any generalization. A mixed method approach in the future could contribute to a holistic finding. Practical implications: It is recommended to coordinate macroeconomic, social and environmental policies to achieve positive results in the energy sector. Renewable energy and green energy sources can play a pivotal role here. Originality/value: This paper fills the research gap regarding assessing the impact of macroeconomic, social and environmental stability on the sustainable development of the energy sector in the V4 countries; this is important for the policies of countries experiencing political transformation. Moreover, the energy sector is important for countries' national security in the current geopolitical conditions related to the raw materials crisis and the war in Ukraine. (original abstract)

Słowa kluczowe

Sustainable development Energy distribution companies

Rozwój zrównoważony Przedsiębiorstwo energetyczne

Czasopismo

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

Rocznik

2023

Numer

z. 176 Contemporary management = Współczesne zarządzanie

Strony

293--318

Opis fizyczny

Twórcy

autor

Magdalena Kowalska

University of Lodz, Poland

autor

Anna Misztal

University of Lodz, Poland

autor

Agata Gniadkowska-Szymańska

University of Lodz, Poland

Bibliografia

1. Acheampong, A.O., Adams, S., Boateng, E. (2019). Do globalization and renewable energy contribute to carbon emissions mitigation in sub-Saharan Africa? Science of the Total Environment, 677, 436-446. https://doi.org/10.1016/j.scitotenv.2019.04.353.
2. Ashraf, A. (2022). Mapping a Sustainable Future Through Conceptualization of Transformative Learning Framework, Education for Sustainable Development, Critical Reflection, and Responsible Citizenship: An Exploration of Pedagogies for Twenty-First Century Learning. ECS Transactions, 107, 1. https://doi.org/10.1149/10701.9827ecst.
3. Barska, A., Jędrzejczak-Gas, J., Wyrwa, J. (2022). Poland on the Path towards Sustainable Development-A Multidimensional Comparative Analysis of the Socio-Economic Development of Polish Regions. Sustainability, 14, 10319. https://doi.org/10.3390/ su141610319.
4. Cader, J., Koneczna, R., Olczak, P. (2021). The Impact of Economic, Energy, and Environmental Factors on the Development of the Hydrogen Economy. Energies, 14, 4811. https://doi.org/10.3390/en14164811.
5. Cergibozan, R. (2022). Renewable energy sources as a solution for energy security risk: Empirical evidence from OECD countries. Renewable Energy, 183, 617-626. https://doi.org/10.1016/j.renene.2021.11.056.
6. Colbert, B., Kurucz, E. (2007). Three conceptions of triple bottom line business sustainability and the role for HRM. Human Resource Planning, 30(1), 21-29.
7. Comporek, M., Kowalska, M., Misztal, A. (2022). Macroeconomic stability and transport companies' sustainable development in the Eastern European Union. J. Bus. Econ. Manag., 23, 131-144. https://doi.org/10.3846/jbem.2021.15913.
8. Costa, A.J., Curi, D., Bandeira, A.M., Ferreira, A., Tomé, B., Joaquim, C., Santos, C., Góis, C., Meira, D., Azevedo, G., Inácio, H., Jesus, M., Teixeira, M.G., Monteiro, P., Duarte, R., Marques, R.P. (2022). Literature Review and Theoretical Framework of the Evolution and Interconnectedness of Corporate Sustainability Constructs. Sustainability, 14, 4413. https://doi.org/10.3390/su14084413.
9. Dias, G.F. (2015). Ecoperception: A Didactic Summary of Social and Environmental Challenges. São Paulo, Brazil: Gaia Publishing House, 2.
10. Drljača, M. (2012). Koncept održivograzvoja i sustavupravljanja. Međunarodni skup Nedeljakvaliteta. Kvalitet i izvrsnost, 1(1-2), 1-15.
11. Dyllick, T., Hockerts, K. (2002). Beyond the case for corporate sustainability. Business Strategy and the Environment, 11, 130-141. https://doi.org/10.1002/bse.323.
12. Elkington, J. (1998). Cannibals with Forks. The Triple Bottom Line of the 21st Century. Oxford: Capstone Publishing.
13. George, G.,. Schillebeeckx, S.J.D. (2022). Digital transformation, sustainability, and purpose in the multinational enterprise. Journal of World Business, 57, 3, 101326. https://doi.org/10.1016/j.jwb.2022.101326.
14. Giovannoni, E., Fabietti, G. (2013). What is sustainability? A review of the concept and its applications. In C. Busco, M. L. Frigo, P. Quattrone, A. Riccaboni (Eds.), Integrated reporting. Concepts and cases that redifine corporate accountability. Berlin: Springer.
15. Gnanaweera, K.A.K., Kunori, N. (2018).Corporate sustainability reporting: Linkage of corporate disclosure information and performance indicators. Cogent Business & Management, 5, 1. https://doi.org/10.1080/23311975.2018.1423872.
16. Gostkowski, M., Rokicki, T., Ochnio, L., Koszela, G., Wojtczuk, K., Ratajczak, M., Szczepaniuk, H., Bórawski, P., Bełdycka-Bórawska, A. (2021).Clustering Analysis of Energy Consumption in the Countries of the Visegrad Group. Energies, 14, 5612. https://doi.org/10.3390/en14185612.
17. Heffron, R.J.,, Körner, M.-F, Schöpf, M., Wagner, J., Weibelzahl, M. (2021). The role of flexibility in the light of the COVID-19 pandemic and beyond: Contributing to a sustainable and resilient energy future in Europe. Renewable and Sustainable Energy Reviews, 140, 110743, https://doi.org/10.1016/j.rser.2021.110743.
18. Hernandez, R.R., Armstrong, A., Burney, J. et al. (2019). Techno-ecological synergies of solar energy for global sustainability. Nat Sustain, 2, 560-568. https://doi.org/10.1038/ s41893-019-0309-z.
19. Hilson, G., Murcka, B. (2000). Sustainable development in the mining industry: clarifying the corporate perspective. Resources Policy, 26.
20. Hosseini, S.E. (2020). An outlook on the global development of renewable and sustainable energy at the time of COVID-19. Energy Research & Social Science, 68, 101633. https://doi.org/10.1016/j.erss.2020.101633.
21. Islam, M.S., Hossain, M.E., Khan, M.A. et al. (2022). Heading towards sustainable environment: exploring the dynamic linkage among selected macroeconomic variables and ecological footprint using a novel dynamic ARDL simulations approach. Environ. Sci. Pollut. Res., 29, 22260-22279. https://doi.org/10.1007/s11356-021-17375-9.
22. Kacperska, E., Łukasiewicz, K., Pietrzak, P. (2021). Use of Renewable Energy Sources in the European Union and the Visegrad Group Countries-Results of Cluster Analysis. Energies, 14, 5680. https://doi.org/10.3390/en14185680.
23. Kacperska, E., Łukasiewicz, K., Pietrzak, P. (2021).Use of Renewable Energy Sources in the European Union and the Visegrad Group Countries-Results of Cluster Analysis. Energies, 14, 5680. https://doi.org/10.3390/en14185680.
24. Kaul, S., Akbulut, B., Demaria, F. et al. (2022). Alternatives to sustainable development: what can we learn from the pluriverse in practice? Sustain. Sci., 17, 1149-1158. https://doi.org/10.1007/s11625-022-01210-2.
25. Kiss-Dobronyi, B., Fazekas, D., Pollitt, H. (2021). Macroeconomic assessment of possible Green Recovery scenarios in Visegrad countries. Society and Economy, 43(3). doi: https://doi.org/10.1556/204.2021.00014.
26. Kochanek, E. (2021). The Energy Transition in the Visegrad Group Countries. Energies, 14, 2212. https://doi.org/10.3390/en14082212
27. Kochanek, E. (2021). The Energy Transition in the Visegrad Group Countries. Energies, 14, 2212. https://doi.org/10.3390/en14082212.
28. Kolosok, S., Bilan, Y., Vasylieva, T., Wojciechowski, A., Morawski, M. (2021). A Scoping Review of Renewable Energy, Sustainability and the Environment. Energies, 14, 4490. https://doi.org/10.3390/en14154490.
29. Komarnicka, A., Murawska, A. (2021). Comparison of Consumption and Renewable Sources of Energy in European Union Countries-617 Sectoral Indicators, Economic Conditions and Environmental Impacts. Energies, 14, 3714. https://doi.org/10.3390/en14123714.
30. Kostakis, I., Tsagarakis, K.P. (2022). The role of entrepreneurship, innovation and socioeconomic development on circularity rate: Empirical evidence from selected European countries. Journal of Cleaner Production, 348, 131267. https://doi.org/10.1016/j.jclepro.2022.131267.
31. Kuzma, E., Sehnem, S. (2022). Proposition of a structural model for business value creation based on circular business models, innovation, and resource recovery in the pet industry. Business Strategy and the Environment, 32, 1, 516-537. https://doi.org/10.1002/bse.3158.
32. LeaFilho, L.W., Salvia, A.L., Paço A. et al. (2022). The influences of the COVID-19 pandemic on sustainable consumption: an international study. Environ. Sci. Eur., 34, 54. https://doi.org/10.1186/s12302-022-00626-y.
33. Marti, L., Puertas, R. (2022). Sustainable energy development analysis: Energy Trilemma. Sustainable Technology and Entrepreneurship, 1, 1, 100007. https://doi.org/10.1016/j.stae. 2022.100007.
34. Misztal, A., Kowalska, M., Fajczak-Kowalska, A. (2022). The Impact of Economic Factors on the Sustainable Development of Energy Enterprises: The Case of Bulgaria, Czechia, Estonia and Poland. Energies, 15, 6842. https://doi.org/10.3390/en15186842.
35. Misztal, A., Kowalska, M., Fajczak-Kowalska, A., Strunecky, O. (2021). Energy Efficiency and Decarbonization in the Context of Macroeconomic Stabilization. Energies, 14, 5197. https://doi.org/10.3390/en14165197.
36. Muñoz-Torres, M.J., Fernández-Izquierdo, M.Á., Rivera-Lirio, J.M., Ferrero-Ferrero, I., Escrig-Olmedo, E. (2021). Sustainable supply chain management in a global context: A consistency analysis in the textile industry between environmental management practices at company level and sectoral and global environmental challenges. Environ. Dev. Sustain, 23, 3883-3916. https://doi.org/10.1007/s10668-020-00748-4.
37. Nakano, M., Managi, S. (2010). Productivity analysis with CO2 emissions in Japan. Pac. Econ. Rev., 15, 708-718. https://doi.org/10.1111/j.1468-0106.2010.00526.x.
38. Niaz, M.U. (2022). Socio-Economic development and sustainable development goals: a roadmap from vulnerability to sustainability through financial inclusion. Economic Research - Ekonomska Istraživanja, 35, 1, 3243-3275, DOI: 10.1080/1331677X.2021. 1989319.
39. Nyzio, A. (2017). The Second Revival? The Visegrád Group and the European Migrant Crisis in 2015-2017. Politeja, 14(5(50)). https://doi.org/10.12797/Politeja.14.2017.50.03.
40. Pereyra-Mariñez, C., Santos-García, F., Ocaña-Guevara, V.S., Vallejo-Díaz, A. (2022). Energy Supply System Modeling Tools Integrating Sustainable Livelihoods Approach-Contribution to Sustainable Development in Remote Communities: A Review. Energies, 15, 2668. https://doi.org/10.3390/en15072668.
41. Pickering, J., Hickmann, T., Bäckstrand, K., Kalfagianni, A., Bloomfield, M., Mert, A., Ransan-Cooper, H.Y., Lo, A. (2022). Democratising sustainability transformations: Assessing the transformative potential of democratic practices in environmental governance. Earth System Governance, 11, 100131. https://doi.org/10.1016/j.esg.2021. 100131.
42. Pieloch-Babiarz, A., Misztal, A., Kowalska, M. (2021). An impact of macroeconomic stabilization on the sustainable development of manufacturing enterprises: The case of Central and Eastern European Countries. Environ. Dev. Sustain., 23, 8669-8698. https://doi.org/10.1007/s10668-020-00988-4.
43. Porter, M.E., Kramer, M.R. (2007). Strategy and society, the link between competitive advantage and corporate social responsibility. Harvard Business Review, 84(12), 78-92.
44. Rokicki, T., Perkowska, A. (2020). Changes in Energy Supplies in the Countries of the Visegrad Group. Sustainability, 12, 7916. https://doi.org/10.3390/su12197916.
45. Rosati, F., Faria, L.G.D. (2019). Addressing the SDGs in sustainability reports: The relationship with institutional factors. Journal of Cleaner Production, 215, 1312-1326. https://doi.org/10.1016/j.jclepro.2018.12.107.
46. Ruiz Duarte, J.L., Fan, N. (2022). Operation of a Power Grid with Embedded Networked Microgrids and Onsite Renewable Technologies. Energies, 15, 2350. https://doi.org/10.3390/en15072350.
47. Safarzadeh, S., Rasti-Barzoki, M. (2019). A game theoretic approach for pricing policies in a duopolistic supply chain considering energy productivity, industrial rebound effect, and government policies. Energy, 167, 92-105. https://doi.org/10.1016/j.energy.2018. 10.190.
48. Schwanitz, V.J., Rudek, T.J., Hubert, W., Wierling, A.H. (2022). The Development of Citizen-Installed Renewable Energy Capacities in Former Eastern Bloc Countries-The Case of Poland. Energies, 15, 2597. https://doi.org/10.3390/en15072597.
49. Sikora, A. (2021). European Green Deal - legal and financial challenges of the climate change. ERA Forum, 21, 681-697. https://doi.org/10.1007/s12027-020-00637-3
50. Siksnelyte, I., Zavadskas, E.K., Streimikiene, D., Sharma, D. (2018). An Overview of Multi-Criteria Decision-Making Methods in Dealing with Sustainable Energy Development Issues. Energies, 11, 2754. https://doi.org/10.3390/en11102754.
51. Silvestre, B.S., Ţîrcă, D.M. (2019). Innovations for sustainable development: Moving toward a sustainable future. Journal of Cleaner Production, 208, 325-332. https://doi.org/10.1016/j.jclepro.2018.09.244.
52. Simionescu, M., Bilan, Y., Zawadzki, P., Wojciechowski, A., Rabe, M. (2021). GHG Emissions Mitigation in the European Union Based on Labor Market Changes. Energies, 14, 465. https://doi.org/10.3390/en14020465.
53. Simionescu, M., Wojciechowski, A., Tomczyk, A., Rabe, M. (2021). Revised Environmental Kuznets Curve for V4 Countries and Baltic States. Energies, 14, 3302. https://doi.org/10.3390/en14113302.
54. Su, W., Zhang, D., Zhang, C., Abrhám, J., Simionescu, M., Yaroshevich, N., Guseva, V. (2018). Determinants of foreign direct investment in the Visegrad group countries after the EU enlargement. Technological and Economic Development of Economy, 24(5), 1955-1978. https://doi.org/10.3846/tede.2018.5487.
55. Sulich, A., Sołoducho-Pelc, L. (2021). Renewable Energy Producers' Strategies in the Visegrád Group Countries. Energies, 14, 3048. https://doi.org/10.3390/en14113048.
56. Surwillo, I., Popovic, M. (2021). Public Attitudes to Sustainable Energy Transitions in the Visegrad Four: Historical Legacy and Emerging Trends. In: M. Mišík, V. Oravcová (eds.), From Economic to Energy Transition. Energy, Climate and the Environment. Cham: Palgrave Macmillan. https://doi.org/10.1007/978-3-030-55085-1_5.
57. Szczepankiewicz, E.I., Loopesko, W.E., Ullah, F. (2022). A Model of Risk Information Disclosures in Non-Financial Corporate Reports of Socially Responsible Energy Companies in Poland. Energies, 15, 2601. https://doi.org/10.3390/en15072601.
58. Tahir, T., Luni, T., Majeed, M.T. et al. (2021). The impact of financial development and globalization on environmental quality: evidence from South Asian economies. Environ. Sci. Pollut. Res., 28, 8088-8101. https://doi.org/10.1007/s11356-020-11198-w.
59. Taticchi, P., Demartini, M. (2021). Corporate Sustainability in Practice: A Guide for Strategy Development and Implementation (Management for Professionals).
60. Thacker, S., Adshead, D., Fay, M. et al. (2019). Infrastructure for sustainable development. Nat Sustain, 2, 324-331. https://doi.org/10.1038/s41893-019-0256-8.
61. Udemba, E.N., Güngör, H., Bekun, F.V., Kirikkaleli, D. (2021). Economic performance of India amidst high CO2 emissions. Sustain. Prod. Consum., 27, 52-60. https://doi.org/10.1016/j.spc.2020.10.024.
62. Uğurlu, E. (2022). Impacts of Renewable Energy on CO2 Emission: Evidence from the Visegrad Group Countries. Politics in Central Europe, 18, 2, 295-315. https://doi.org/10.2478/pce-2022-0013.
63. Wach, K., Głodowska, A., Maciejewski, M., Sieja, M. (2021). Europeanization Processes of the EU Energy Policy in Visegrad Countries in the Years 2005-2018. Energies, 14, 1802. https://doi.org/10.3390/en14071802.
64. Wahab, S., Zhang, X., Safi, A., Wahab, Z., Amin, M. (2021). Does Energy Productivity and Technological Innovation Limit Trade-Adjusted Carbon Emissions? Economic Research - Ekonomska Istraživanja, 34, 1, 1896-1912. https://doi.org/10.1016/10.1080/ 1331677X.2020.1860111.
65. Wang, L., Chen, L., Li, Y. (2022). Digital economy and urban low-carbon sustainable development: the role of innovation factor mobility in China. Environ. Sci. Pollut. Res., 29, 48539-48557. https://doi.org/10.1007/s11356-022-19182-2.
66. Wilkinson, A. et al. (2001). The sustainability debate. International Journal of Operations & Production Management, 21, 12.
67. Zhou, Z., Liu, W., Cheng, P., Li, Z. (2022). The Impact of the Digital Economy on Enterprise Sustainable Development and Its Spatial-Temporal Evolution: An Empirical Analysis Based on Urban Panel Data in China. Sustainability, 14, 11948. https://doi.org/10.3390/su141911948.

Typ dokumentu

Bibliografia

Identyfikatory

DOI

10.29119/1641-3466.2023.176.18

Identyfikator YADDA

bwmeta1.element.ekon-element-000171680624

Komentarze

Musisz być zalogowany aby pisać komentarze.

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

Exogenous Stability and Sustainable Development of Energy Enterprises in the V4

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane