https://www.ieeca.org/journal/index.php/JEECAR/issue/feedJournal of Eastern European and Central Asian Research (JEECAR)2024-02-10T14:59:43-07:00Dr. Mykola (Nikolay) Megitsjournal@ieeca.orgOpen Journal Systems<!-- Global site tag (gtag.js) - Google Analytics --> <div> <p class="ecxmsonormal"><strong>IMPORTANT: </strong>The Journal of Eastern European and Central Asian Research <strong>ONLY</strong> reviews and accepts articles related to the business disciplines of the Eurasia region. All other submittals will be <strong>DECLINED</strong> without further review.</p> <p><img style="float: left; margin-right: 30px;" src="https://www.ieeca.org/journal/public/site/images/Admin/JEECAR_cover_V6_N2-Small_232_300.jpg" /> Journal of Eastern European and Central Asian Research (JEECAR) is a multi-disciplinary high quality, scholarly, double-blind peer-reviewed journal published quarterly. It serves the purpose of publishing advanced concepts and fundamental research in key fields of Eastern European and Central Asian business and national political economies. We welcome manuscripts from the perspective of current scholarly work conducted in universities and research institutions. The journal shall enlighten its readership by covering academicians and practitioners and providing a venue for the publication of scholarly research. Authors must present original, empirical, or theoretical papers and book reviews.</p> </div> <p>Journal is registered by the <strong>Library of Congress,</strong> listed in the Directory of Open Access Journals (<strong>DOAJ</strong>), indexed with the <strong>Web of Science</strong>: Emerging Sources Citation Index,<strong> SCOPUS, CABELL, BASE, EBSCO, ProQuest, Ulrich,<strong> Google Scholar, Norwegian Register for Scientific Journals, </strong>OAI WorldCat Digital Collection,</strong> each article has assigned? an individual<strong> CrossReff DOI </strong>address, and positively evaluated in <a title="https://www.citefactor.org/impact-factor/impact-factor-of-journal-Journal-of-Eastern-European-and-Central-Asian-Research.php" href="https://www.citefactor.org/impact-factor/impact-factor-of-journal-Journal-of-Eastern-European-and-Central-Asian-Research.php" target="_blank" rel="noopener"><strong>Citefactor </strong></a>indexing.</p> <p>JEECAR performance score can be viewed in <strong>Web of Science</strong>: Emerging Sources Citation Index <a href="https://mjl.clarivate.com/search-results?issn=2328-8272&hide_exact_match_fl=true&utm_source=mjl&utm_medium=share-by-link&utm_campaign=search-results-share-this-journal" target="_blank" rel="noopener">https://mjl.clarivate.com:/search</a> and in <span class="Linkify"><strong>Scopus</strong> </span>by visiting <a href="https://www.scopus.com/sourceid/21100855999" target="_blank" rel="noopener">https://www.scopus.com/sourceid/21100855999</a></p> <p>The JEECAR Journal is committed to the editorial principles of all aspects of publication ethics and publication malpractice as assigned by the <a href="http://publicationethics.org/">Committee on Public Ethics</a>.</p> <p>The proposed manuscript should be formatted according to the <a title="https://www.ieeca.org/journal/index.php/JEECAR/article/view/652/300 " href="https://www.ieeca.org/journal/index.php/JEECAR/article/view/652/300%20" target="_blank" rel="noopener">JEECAR Article Template</a>.</p> <p>To learn more about the journal, please go to <a title="About" href="https://www.ieeca.org/journal/index.php/JEECAR/about"><strong>About</strong>.</a></p>https://www.ieeca.org/journal/index.php/JEECAR/article/view/1428Measuring healthcare efficiency in Kazakhstan: an application of data envelopment analysis2024-02-10T14:58:46-07:00Aida Omiromir.aida1@gmail.comAzimkhan Satybaldinieconomkz@gmail.comRashid Ruzanovrashruz2012@gmail.comGulzhakhan Khajiyevag.khajiyeva@turan-edu.kz<p>The study aims to evaluate the efficiency of the Republic of Kazakhstan's healthcare sector over the period 2014-2021 using the non-parametric method of data envelope analysis. The analysis was carried out based on quantitative indicators of the medical statistics of the Republic of Kazakhstan. The study's results prove that efficiency tends to change over the medium term. Simultaneously, implementing digital technologies based on the computerisation and digitalisation of the healthcare sector in the short term is revealed to reduce overall efficiency, but that efficiency increases in the long term. The events of the COVID-19 pandemic did not reduce the overall efficiency of the healthcare sector in the Republic of Kazakhstan.</p>2024-02-10T00:00:00-07:00Copyright (c) 2024 Aida Omir, Azimkhan Satybaldin, Rashid Ruzanov, Gulzhakhan Khajiyevahttps://www.ieeca.org/journal/index.php/JEECAR/article/view/1440How does technological readiness, among other factors, influence the dynamics of agricultural exports from Vietnam to major EU trading partners?2024-02-10T14:58:23-07:00Mai Ngoc Tranmaitn@hvnh.edu.vn<p>The agricultural sector plays a significant role in Vietnam's economy, contributing to food security, employment, and export revenues. The European Union (EU) has emerged as a promising market for Vietnam's agricultural exports in recent years. However, Vietnam must embrace technological advancements in the agricultural sector to penetrate and succeed in the highly competitive and regulated EU market. Despite the evidence supporting the positive impact of technology adoption on agricultural exports, there is a research gap regarding the specific role of technological readiness in promoting Vietnam's agricultural exports to the EU. This study aims to fill this research gap by investigating the relationship between technological readiness and Vietnam's agricultural exports to the EU market. The findings can provide valuable insights for policymakers and stakeholders to formulate strategies that enhance the competitiveness of Vietnam's agricultural sector and increase exports to the EU market.</p>2024-02-10T00:00:00-07:00Copyright (c) 2024 Mai Ngoc Tranhttps://www.ieeca.org/journal/index.php/JEECAR/article/view/1383Business continuity of culinary SMEs: Empirical study of personal branding, corporate branding, open innovation, and competitive advantage2024-02-10T14:59:21-07:00Velwin Wibowovelwin.wibowo@binus.ac.idIdris Gautama Soigautama@binus.ac.idEngkos Achmad Kuncoroeak@binus.eduAgustinus Bandurabandur@binus.edu<p>This study aims to uncover the interaction of intangible resources in personal branding, corporate branding, and open innovation in shaping the competitive advantage and sustainability of culinary SMEs in developing countries. Financial moderation is a moderation variable in the relationship between competitive advantage and business continuity. Using a quantitative approach involving 216 respondents, this study with SEM PLS analysis has produced empirical information that knowledge and branding resources (personal and corporate) have convincingly influenced the formation of competitive advantage and business continuity. This study reinforces resource-based theory and practically becomes a strategic consideration for stakeholders related to culinary SMEs in maintaining their existence in a competitive dynamic.</p>2024-02-10T00:00:00-07:00Copyright (c) 2024 Velwin Wibowo, Idris Gautama So, Engkos Achmad Kuncoro, Agustinus Bandurhttps://www.ieeca.org/journal/index.php/JEECAR/article/view/1549The value premium in the Vietnamese equity market2024-02-10T14:57:25-07:00Le Quy Duongduonglq@neu.edu.vn<p>In recent decades, the Efficient Market Hypothesis has been the subject of debate among professionals and academics. In this hypothesis, the value premium is a key aspect that challenges market efficiency. The main objective of this study is to comprehensively investigate the value versus growth anomaly in the Vietnamese market between 2013 and 2023. Based on the empirical data, value portfolios have yielded a greater average return than growth portfolios in the Vietnamese stock market during this period. Although their levels of market risk (measured by beta) are nearly the same, the added-risk level of value portfolios is substantially higher than growth portfolios. Therefore, the value premium in Vietnam is compensated for bearing a higher risk level, consistent with the risk-based explanation.</p>2024-02-10T00:00:00-07:00Copyright (c) 2024 Le Quy Duonghttps://www.ieeca.org/journal/index.php/JEECAR/article/view/1478Shaping the future of Uzbekistan's tourism: An in-depth analysis of infrastructure influence and strategic planning2024-02-10T14:57:48-07:00Nurali Arabovnurali.arabovuz@gmail.comDilmurod Nasimovd.nasimov@dba.uzBekzot Janzakovbekadzhon@gmail.comKomiljon Khomitovkhomitovkomiljon@gmail.comGulnarakhan Utemuratovagulnarakhanutemuratova@gmail.comDilshod Abduraimovkutubxona@gmail.comBaxit Ismailovbakhit.ismailov23@gmail.com<p>This article presents a comprehensive assessment of the impact of infrastructure on tourism, exploring its crucial role in shaping the tourism industry. Through expert methods and survey analysis, the study highlights the quality of infrastructure by assessing the development level of transportation, accommodation, tourist attractions, amenities, and tourism services in Uzbekistan’s 14 regions. As a result, the classification of regions with regard to infrastructure development is proposed. In addition, an equilibrium equation in the tourism market concerning infrastructure facilities is suggested, which can be used to assess the balanced development of general infrastructure. The findings underscore the need for policymakers and stakeholders to recognize the direct correlation between infrastructure and tourism success, providing insights to guide future infrastructure planning and development initiatives in the ever-evolving global tourism landscape.</p>2024-02-10T00:00:00-07:00Copyright (c) 2024 Nurali Arabov, Dilmurod Nasimov, Bekzot Janzakov, Komiljon Khomitov, Gulnarakhan Utemuratova, Dilshod Abduraimov, Baxit Ismailovhttps://www.ieeca.org/journal/index.php/JEECAR/article/view/1547Key factors affecting online shopping attitude and intention: A case study of consumers in Vietnam2024-02-10T14:57:37-07:00Lu Phi Ngatampt@lhu.edu.vnPhan Thanh Tamphinga@lhu.edu.vn<p>The COVID-19 outbreak has altered consumer purchasing patterns and behavior worldwide. Online shopping services have grown rapidly in Vietnam in recent years, owing to the coronavirus's highly contagious nature and the convenience of online buying and delivery. For that reason, the authors carried out a study to determine online shopping intention, which aims to discover which factors affect intentions. Then, managerial implications are proposed to help businesses develop appropriate business strategies in the new, post-COVID period. The data was collected from 700 consumers buying online products. Five critical factors affecting online shopping intention were identified: perceived usefulness, ease of use, confidence, safety level, and customer service. The research paper applied structural equation modeling to study individual customers' intentions to purchase online shopping products by adding the customer service element to the research model and using a customer-oriented approach to find out users’ intentions to purchase products on online platforms.</p>2024-02-10T00:00:00-07:00Copyright (c) 2024 Lu Phi Nga, Phan Thanh Tamhttps://www.ieeca.org/journal/index.php/JEECAR/article/view/1442Socio-economic development of tourist destinations: A cross-country analysis2024-02-10T14:58:13-07:00Olena Stryzhakolena.stryzhak@hneu.netL'uboš Cibáklubos.cibak@vsemba.skMykola Sidakmykola.sidak@vsemba.skVolodymyr Yermachenkoyvyyer@gmail.com<p>The study aims to investigate the characteristics of socio-economic development in the context of countries’ tourism advancement. The paper analyzes the Travel & Tourism Development Index (TTDI) and the Happiness Rating (HR). The sample covers data from 102 countries for the year 2021. The analysis showed that there are differences in the relationships between TTDI and HR, as well as their sub-indices, among groups of countries distributed according to income level. The research methodology includes the use of such methods as correlation analysis to determine the relationships between indicators like factor analysis to identify the degree of indicators' influence on the sample and a graphical method to visualise the analysis results. The study uses the World Bank approach to classify countries into income groups. The study confirms that a country's welfare level is one factor that determines patterns in various areas, including tourism.</p>2024-02-10T00:00:00-07:00Copyright (c) 2024 Olena Stryzhak, L'uboš Cibák, Mykola Sidak, Volodymyr Yermachenkohttps://www.ieeca.org/journal/index.php/JEECAR/article/view/1407The impact of shadow banking on nonfinancial firms listed on the Ho Chi Minh Stock Exchange (HOSE) – Evidence from Vietnam2024-02-10T14:59:09-07:00Thy Lelebaothy@tdtu.edu.vnNgan Nguyen Thi Kimnguyenthikimngan.251002@gmail.comThi Hoang Dieudieuthikute2002@gmail.com<p>This paper examines the effect of shadow banking activities on the performance and risk-taking of 339 Vietnamese nonfinancial firms listed on the Ho Chi Minh Stock Exchange (HOSE). Using manually gathered data on firms' shadow banking activities from 2009 to 2021, the expansion of shadow banking is found to have a negative effect on the overall financial soundness of the securities companies, in particular negatively affecting performance and increasing the risk tolerance of companies. We present empirical findings about several aspects of shadow banking activities, including entrusted loans, entrusted investments, private lending, leasing, and commercial credit in this study. While the majority of shadow banking operations could have a negative impact on a firm's performance, we have discovered that commercial credit grants were crucial in reducing the COVID-19 pandemic's adverse effects on businesses, highlighting the need for financial stability in times of crisis. According to our results, the risk of shadow banking activities, which have consequences for policymakers and caution for nonfinancial enterprises, must be taken into consideration.</p>2024-02-10T00:00:00-07:00Copyright (c) 2024 Thy Le, Ngan Nguyen-Thi-Kim, Thi Hoang-Dieuhttps://www.ieeca.org/journal/index.php/JEECAR/article/view/1415Green production management in the aluminum industry: A sustainable approach towards environmental performance2024-02-10T14:58:57-07:00Jamil Safarovc.seferov@uteca.edu.azRamil Hasanovr.hasanov@uteca.edu.az<p>Implementing green production management (GPM) practices has become increasingly vital for ensuring a sustainable future. Integrating green scientific research into the aluminum industry is imperative for achieving economic and environmental benefits. Despite being touted as a "green metal," the aluminum production process presents significant sustainability challenges. Notably, the industry contributes a substantial 3% to global carbon emissions, with the production of one metric ton of primary aluminum releasing 10-20 metric tons of CO<sub>2</sub>. Thus, reducing these emissions is critical to promoting environmental sustainability within the industry. This article meticulously examines this pressing issue and analyzes potential strategies to foster a greener aluminum production process. The intrinsic value of this study lies in its capacity to make substantive contributions towards environmentally sustainable practices in this specific industrial domain.</p>2024-02-10T00:00:00-07:00Copyright (c) 2023 Jamil Safarov, Ramil Hasanovhttps://www.ieeca.org/journal/index.php/JEECAR/article/view/1465Resident’s perceptions towards tourism development in Buddha’s footsteps in India2024-02-10T14:58:01-07:00Emil Velinovemil.velinov@savs.czAnkit Dhirajankitdhiraj@gmail.comSanjeev KumarKumarsharma12360@gmail.comDivya Ranidivyaranitargir@gmail.com<p>Tourism experts have considered the local perspective as an important area of research involving the tourist sector. Residents of places where sharing and preserving their culture are essential can experience both positive and negative effects from tourism. This study examined how Indian Buddhist circuit residents felt about tourism using a benefits-based approach. The paper's primary goal is to investigate residents' perceptions of tourism development in the Buddhist circuit in India. Data were collected using a five-point Likert scale from 175 Buddhist circuit residents in India, who had 31 statements. The researcher used a convenience sampling approach. The study took place over 24 weeks from January to July 2022. According to the results, people living in Buddhist circuits are more sensitive to tourism's economic effects than its cultural and social aspects. The local community will support tourism growth if it brings about considerable personal benefits.</p>2024-02-10T00:00:00-07:00Copyright (c) 2024 Emil Velinov, Ankit Dhiraj, Sanjeev Kumar, Divya Ranihttps://www.ieeca.org/journal/index.php/JEECAR/article/view/1432Financial statements’ reliability affects firms’ performance: A case of Vietnam2024-02-10T14:58:35-07:00Trung Nguyen Kim Quocnkq.trung@ufm.edu.vnVan Tran Hong hongvan@ufm.edu.vnTuan Le Vanletuan@ufm.edu.vnHang Nguyen Minhnguyenminhhang@ufm.edu.vnOanh Nguyen Thi Ngocntn.oanh@ufm.edu.vn<p>This paper aims to estimate the effect of the reliability of financial statements on listed firms’ performance in Vietnam, especially on the Ho Chi Minh City Stock Exchange, from 2015 to 2022. Based on International Financial Reporting Standards, Generally Accepted Accounting Principles and theories, reliability is a key attribute of information quality in financial statements. Besides, using the quantitative method of feasible generalized least squares (FGLS), the findings show that reliability positively affects listed firms’ performance with a confidence interval of 95%. On the platform of agency theory, the reliability of financial statements is considered a tool to fulfill the duties and responsibilities of managers and the board of directors to external users, while stakeholder theory considers the advantages of the disclosure of reliable financial statements in terms of gaining performance.</p>2024-02-10T00:00:00-07:00Copyright (c) 2024 Trung Nguyen Kim Quoc, Van Tran Hong , Tuan Le Van, Hang Nguyen Minh, Oanh Nguyen Thi Ngochttps://www.ieeca.org/journal/index.php/JEECAR/article/view/1282University Students and Teachers’ Experiences with Distance Education in Uzbekistan2024-02-10T14:59:43-07:00Diana Akhmedjanovadiakhmedjanova@gmail.comIrina Kerimovaikerimova@wiut.uz<p>This study has examined the experiences of students and teachers with distance education in Uzbekistan during the COVID-19 pandemic. Distance education is a new field in Uzbekistan, and evidence-based practices should be examined for its successful implementation. A convergent mixed-methods design was used, employing surveys and focus group interviews. The survey data was analyzed using descriptive and inferential statistics, and the focus group interview data was analyzed using thematic analysis. The results revealed that students and faculty had both positive and negative experiences with distance education, but also suggested that teachers were more self-efficacious in teaching online rather than students learning online. This exploratory study indicates that students need targeted instruction and support on studying online and self-regulate their learning. Teachers should participate in intensive professional learning workshops on materials design and pedagogical practices in online classes. Practical applications and ideas for future research are discussed.</p>2024-02-10T00:00:00-07:00Copyright (c) 2024 Dr. Diana Akhmedjanova, Irina Kerimovahttps://www.ieeca.org/journal/index.php/JEECAR/article/view/1344The effect of liquidity on firm’s performance: Case of Vietnam2024-02-10T14:59:32-07:00Kim Quoc Trung Nguyennkq.trung@ufm.edu.vnThi Hang Nga Phanphannga@ufm.edu.vnNguyen Minh Hangnguyenminhhang@ufm.edu.vn<p>This paper aims to estimate the effect of liquidity on the profitability of firms listed on the Ho Chi Minh City Stock Exchange (HSX) in Vietnam during the COVID-19 outbreak. Using a quantitative research method (the feasible generalized least squares method - FGLS), six factors affecting the firms' performance from 2012 to 2021 are identified: COVID-19, the liquidity ratio, firm age, firm size, tangible assets, and gross domestic product growth. This paper has especially highlighted liquidity's negative and significant effect on firms' performance during the pandemic. Therefore, the study findings indicate that manufacturing firms with high liquidity during COVID-19 lose the opportunity to increase revenue due to funds tied to working capital that cannot be used to support the company's operations under the trade-off theory. Besides, high liquidity also increases the company's opportunity cost, which decreases company profitability. However, the study was conducted in a country with government intervention, political stability, and peace, unlike a country in a period of war and economic difficulties, such as Ukraine. Therefore, the article used a cross-country database for more generalizable results.</p>2024-02-10T00:00:00-07:00Copyright (c) 2024 Kim Quoc Trung Nguyen, Thi Hang Nga Phan, Nguyen Minh Hang