WSEAS Transactions on Business and Economics

I investigate whether the adoption of a two-stage public goods framework causes a change in contributions to public goods compared to a standard public goods game. For this purpose, my first treatment (S) is a standard public goods game and represents the baseline treatment. The second treatment (D) is a twostage public goods game. In each stage, agents allocate their endowments between a private good and a public good. The results show that subjects contribute more to the public good in the S treatment than in the D treatment. In addition, agents under the D treatment evenly divide their limited endowments between both public goods, regardless of differences in the marginal per capita returns of the two goods.

Financial markets and tax services require continuous information on the economic health of corporations. Data of financial indices and accounting statements include valuable elements that advanced methods of artificial intelligence can implement to provide analyses of high precision. Hybrid systems of neural networks with genetic algorithms optimization are able to support efficiently decisions on portfolio management, corporate management, and financial accounting.

The waterfall and incremental models are widely used for guiding E-commerce system development. In some cases where clients demand a quick solution to maximise their business benefit, these models are not fully fit in directing such projects. This is because the client's prioritisation of system requirements is determined by immediate business benefit whereas the developer's is based on the long-term system usability and reliability. The concurrent system development model (CSDM) proposed in this paper is an alternative approach for guiding system development, especially for client-driven business systems. Its waterfall-based framework is easy to follow and understand by the developers. Its component-based stream only iterates over the Implementation, Testing, and Deployment stages. Since the design for the overall system and prototypes is done at the same stage, all the prototypes can be fully or partly absorbed into the corresponding system groups, and/or modified to fit into the system design. The local iterations realise the business needs separately using prototyping without interference with the progression of the overall system development, which ensures the quick deployment of a prototype. The case of WCE Pizza online system proves that CSDM is an effective approach to guide the development of client-driven E-commerce systems.

Classical models often fail to predict values arising from crises events, partly, because they are based on the assumption that financial return series follow normal distribution. On the other hand, recent empirical studies have shown that financial data exhibit non-normality and heavy-tails. Historical Simulation is able to overcome obstacles arising from assumptions about the shape of the risk factors' distribution. Moreover, Extreme Value Theory (EVT) is becoming a key element for modern risk managers and regulators, in the analysis of heavy-tailed data and the estimation of extreme quantiles as it derives the laws governing rare events without implying any statistical distribution assumptions for the dataset. Choosing from the restricted spectrum of historical simulation and EVT the key issue is whether to choose a conditional or unconditional model.

The aim of this paper is explaining the justification of the phenomenon of consumer behavior is a quite new scientific discipline that emerged only in the middle of the last century, has always been a challenge for companies, especially in the period of the Covid 19 pandemic, where the unpredictable situation affects consumer behavior. The research methods in this paper are the interaction of several scientific methods such is a historical method that took data from the professional literature in the field of marketing, which analyzed the factors and processes of consumer behavior by using the quantitative statistical method with a deductive approach. It has been proven that business results mostly bought products in stores to which they are "loyal" regardless of brand and origin, while a smaller part started buying exclusively products of SEE companies. The analysis concluded that R Square .511 showed that online shopping depends on fear of consumers for possible appeals the same tested model showed that consumers are careful to buy their products because they are not able to physically intoxicate purchased products on the Internet. Also, research results show that companies in the SEE that consumer behavior is a very important indicator for organizational behavior experts on how and in what way to choose the right marketing strategy.

COVID-19 pandemic has had a profound effect on campuses, compelling learning systems to shift away from face-to-face engagement and toward online instruction. The purpose of this research is to investigate the effectiveness of remote learning in the event of a COVID-19 pandemic. To obtain responses, a self-administered online survey was used. After data screening, 315 data were proceeded to the next analysis. Additionally, the data were devoid of missing cases and outliers. The measuring model was evaluated for indicator and internal consistency reliability, convergent and discriminant validity. Meanwhile, the structural model was evaluated by SmartPLS version 3.2.9 utilising the bootstrapping approach. Findings revealed self-discipline and flexibility were significant towards effectiveness of online learning among students at the UiTM Kelantan, Kota Bharu Campus. The findings argue that, in the modern era, internet technologies have increased the flexibility of post secondary education in a variety of ways. Institutions should make strategic use of these new flexibility, concentrating on chances to engage students more deeply in learning that results in practical outcomes.

Community entrepreneurs in a processed agricultural product are the foundation of the economy which links the agricultural sector of the nation. They play an important role in driving the grassroots economy of Thailand after the COVID-19 pandemic. This study reflected the usage of major ingredients grown locally in the processing of agricultural products, which provide the advantage of unique local ingredients while also preventing the waste of oversupply. Meanwhile, entrepreneurs have conventional wisdom in processing raw materials into products. Additionally, the challenging issues for small community enterprises are administration and fundraising to expand their production. The lack of labours in rural areas also poses a challenge to the administration of community enterprises. The findings also reveal that there should be a sustainable extension of other activities, such as integrating agritourism activities and the development of a sustainable ecosystem. There should also be the utilization of online channel in the sales and communication of products and communities’ identities. It was also found that the supporting mechanism for community enterprises is still limited in some ways due to the requirement to follow central policies in development. Finally, the new generation should be motivated to join community enterprises in processed agricultural products as they could help in the long-term development of the community.

The aim of the article is to assess the impact of the COVID-19 pandemic on the financial and asset situation of infectious diseases hospitals in Poland after the first year of the pandemic, which began in late 2019. The first significant financial impacts of the pandemic were recorded in the 2020 financial statements. Fulfilling the purpose of the article, the 2020 data were referenced to 2018-2019, i.e., before the spread of the COVID-19 pandemic. The research was conducted on the basis of financial statements obtained from 79 infectious diseases hospitals. The results of the research, apart from its scientific aspect, constitute a rich knowledge base and directions for action for the managers, supervisors and owners of infectious diseases hospitals in Poland, as well as for the state bodies responsible for the proper functioning of the infectious diseases treatment system, especially in the era of the pandemic, which, according to specialists, the world will be facing for several more years. The article addresses a timely topic of interest to a wide range of stakeholders. It is one of the first surveys to attempt to analyze the impact of coronavirus on the financial and asset situation of infectious diseases hospitals in Poland after the first pandemic period, especially since not all financial statements for 2020 of medical entities have yet been approved by ownership bodies. The research sample covered 89.8% of the general population.

This paper is devoted to the development of an approach to substantiate the feasibility of using innovative technologies for doing business in not innovative leaders countries in the post-pandemic period considering the associated risks. The main directions and technologies of successful business activity in the conditions of the COVID-19 pandemic are defined and systematized, their main characteristics are outlined. On the example of Ukraine, as a basis of relevant knowledge the possibilities of using this results for a reasonable assessment to implementing the innovative technologies for doing business within selected areas in the post-pandemic COVID-19. Approbation of practical using this base to substantiate the choice of specific innovative technologies for doing business is performed. The methodological approach to the analysis and risk assessment of using the innovative technologies for doing business in the post- pandemic period is improved. It is based on the mathematical apparatus of fuzzy logic which allows to multifactor analysis risks of the innovative projects, considering the diverse vague effects of individual factors. This approach provides an opportunity to make decisions to justify the selection and implementation of innovative projects in the context of inaccurate, incomplete or contradictory information considering the associated risks. The obtained results prove that it can be used to justify innovative technologies for doing business in COVID-19 and post-pandemic period in not innovative leaders countries, which economic environment is characterized by incomplete certainty and high risks.

With COVID-19, significant life events can alter how individuals perceive and employ transportation systems. The COVID-19 pandemic has disrupted people's lives for a considerable time and may impact how people see travel and use transportation services. Due to the COVID-19 pandemics' severe physiological and psychological effects and ongoing financial difficulties, critical personnel must continue traveling for necessary tasks. The main aim of this study was to explore the use of taxi services after the Covid 19 pandemic perceived by travelers and commuters. To analyze the factors that influenced how people behave while using taxis for necessary travel during the COVID-19 restrictions imposed in Makkah, Madinah, Riyadh, and other Saudi Arabian cities. Between October 30 and December 15, 2021, 524 Saudi travelers participated in the online questionnaire assessment. Respondents' attitudes, perceptions, and attentiveness regarding taxi services after the lockdown were measured using a categorical scale. Statistical analysis was performed using the IBM SPSS-20 version and the Chi-Square, Phi, and Cramer's V tests to analyze were applied. The results of this study revealed how the COVID-19 outbreak caused some people to rethink their travel. This allows behavior-change approaches to target motives, challenges, and attitudes about changing travel options.

The world faced a new way of organizing everyday life in many countries during 2019. Lockdowns applied in many societies. People adopted a “new way” of living which now is called “the new normal”. The tense days spent under the virus threat made people experience changes in their daily lives, plus it forced them into behaving differently than before when the fear of any pandemic was almost nonexistent. This research was conducted during the days of lockdown and it indicates the feelings people experienced during the conditions of lockdown, in particular: on the magnitude of anxiety they felt, how anxiety may have affected perceptions and behaviors related to economy; furthermore, on the perceptions of economic crisis. Also gender differences were tested regarding the above. An online survey was conducted in Albania from March 22nd to April 4th, 2020, during the lockdown period of COVID-19. Since the 9th of March 2020, the Albanian government started issuing the anti-COVID-19 measures that were toughened later in the following weeks of March and April. The education institutions were closed and other public and private services were limited. The government issued a strict curfew allowing people to go out in limited hours, in some days up to one hour. Some weekends the curfew lasted for 24-48 hours in isolation where citizens were prohibited to walk outside of their homes. Transportation was limited to the employee shuttles and distribution transportation services only. Private cars were not allowed for many weeks. Physical stores were closed; only those selling food could open for limited hours. 1205 respondents participated in this online survey, from which 1061 valid questionnaires were analyzed, in a sample of 66.2% female and 33.8% male, providing data regarding their feelings during quarantine, their decisions related to future spending and how they perceived the future economic situation. The aim is to investigate the relation between anxiety and economic crises perceptions, the levels of anxiety and decision-makings on future spending and if there is any variance affected by gender, in order to have an outcome on the assumption that anxiety feelings may affect peoples’ behavior as consumers. The results of this research show that there are differences between male and female groups on the levels of anxiety experienced during the lockdown and on the level of perception of future economic crisis, but there is no difference between gender groups regarding the decision in reducing future spending. Another finding from this research is that people experiencing high levels of anxiety, were more likely to lessen their future expenses. Also, there is a significant relationship between anxiety and the level of perception on the fear of future economic crisis in the country. People with high levels of anxiety, perceive a higher level of crisis. There is a significant relationship between anxiety and decision-making of reducing the future spending. People with high levels of anxiety, have higher levels of reduction of future spending. The decreasing of future spending is related more to the perception of future economic crisis than to feelings of anxiety.

This study has the aim of looking at the expected impact of strictly obligation to apply going concern assumption-GCA; on enhancing the entity's ability to withstand the COVID-19 pandemic with its consequences and results. It is applied on entities that may exit from the market in Jordan. An electronic questionnaire (online questionnaire) was prepared, established and developed for this purpose and published via Google Form by using the simple random sampling method. A few months later, 399 fully answered electronic questionnaires were received, and the extracted data was analyzed by the Statistical Program for Social Sciences (SPSS), and a number of statistical tests were achieved, namely: the study tool's reliability, structural validity, the test for normal distribution, the Multicollinearity test, the description of the study sample characteristics, and the descriptive statistics for the study tool items. Each of the tests showed positive indicators. The decision making base that states: (If Sig.T > 5% Accept Ho and If Sig.T ≤ 5% Accept Ha) was used, and it was noted from the statistical analysis that: The Sig.T of the first sub hypothesis equals to (0.000). The matter that confirms the acceptance of the alternative hypothesis; (accurate assessment of liquidity risks ‘Assets Risks’, variable had the greatest impact on enhancing the entity's ability to withstand the COVID-19 pandemic). The Sig.T of the third sub hypothesis appoints to (0.000). This proves the acceptance of the alternative hypothesis; (the policy of deconcentration ‘business diversification’, variable came in the second place of effect on enhancing the entity's ability to withstand the COVID-19 pandemic). The Sig.T of the second sub hypothesis equalizes (0.031). This states the acceptance of the alternative hypothesis; (the impact of the accurate assessment of liquidity risks ‘financing risks’ variable came at the third place of effect on enhancing the entity's ability to withstand the COVID-19 pandemic). So, the null state (Ho), of each sub-hypothesis was rejected. The sole recommendation of this study is the strict application of the standards that rule any profession, or occupation, especially in the accountancy occupation.

E-learning has become an inevitable process for educational organizations as it helps an individual to get his or her education regardless of the place of learning, reducing the cost, time, and effort of the education process, especially in crises’ occurrence. The theoretical approach was used in this study to collect the required data based on the literature review. The study clarified the significance of e-learning as a feature of the digital transformation process and an integrative, but not full alternative, for face-to-face learning in all the scientific disciplines in the universities, especially clinical disciplines. The study differentiated between e-learning and emergent-remote learning that occurred as an emergent response to the Covid-19 pandemic and confirmed that the pandemic-response migration cannot be equally assessed as much as online education in the ordinary situation. it was differentiated between methods of response to the emergent-remote learning during the Covid-19 pandemic. Also, the study demonstrated the challenges that have faced e-learning during the pandemic and the opportunities provided by the pandemic through e-learning. Finally, a set of suggested solutions was provided in the discussion section. For instance, It is suggested that schools fulfill their civic duty by teaming up with telecommunications firms to provide free or cheap internet access and downloads for students and teachers. Also, colleges and universities need to inspire their students to develop their digital skills so that they can remain competitive in the e-learning market.

The fact that the pandemic condition due to Covid-19 that broke out in early 2020 has caught the attention of various elements of society. The visible impact is not only on public health, but also influences the distribution and availability of various food supplies, especially local rice in the study area. The purpose of this study was to examine the flow patterns of the local rice supply chain during the Covid-19 pandemic. Data analysis using supply chain analysis of Supply Chain management (SCM). The results of the analysis show that at the farmer / producer level it does not significantly affect farming activities, only 29.77 percent of farmers stated that there was an influence on farming activities. The impact of Covid-19 mainly affects the level of intermediary institutions in the rice distribution process. Long product (material) flow patterns by business actors need to be shortened by a short distribution route. Another effect is the inaccuracy of product arrival time due to delays in the inspection process for products brought to the research location. The impact of Covid-19 is mainly felt by distributors / wholesalers who flow products to other areas, mainly due to the increase in additional costs related to Covid-19 requirements. The solution to integrate all SCM elements through an information system can facilitate the flow pattern of local rice in Kapuas District, by intensifying the management of information related to production at the producer level, as well as controlling rice supplies at the level of intermediary institutions.

Research on market reactions to the phenomenon of The Day of Week Effect, Week Four Effect, Rogalsky Effect, and January Effect in several world capital markets finds different results. This study aims to determine the reaction of the Indonesian capital market before and during the Covid-19 pandemic which is associated with the phenomenon of the day of the week effect, week four effect, Rogalski effect, and January effect. by conducting a study of previous theoretical research, after that a survey was carried out to obtain data phenomena, classifying the closing daily JCI before and during the Covid-19 pandemic, calculating actual returns, calculating expected returns and abnormal returns, then classifying return or abnormal return data into 4 phenomena namely The Day of The Week Effect, Week Four Effect, Rogalsky Effect, and January Effect. For The Day of The Week Effect, return data is classified into Monday and non-Monday returns. For Week Four Effect, return data is classified into Monday week 1, 2, 3, and Monday week 4.5. For the Rogalsky Effect, return data are classified into Monday, April, and Monday non-April. For the January Effect, return data are classified into January 1st week and January 2nd week. Then do the Data Normality Test and Hypothesis Testing. This study produces empirical evidence that there is no phenomenon of the day of the week, week four effect, Rogalski effect, and January effect before and during the Covid-19 pandemic outbreak on the Indonesia Stock Exchange.

The considerations presented in the paper concern the impact of Covid-19 on sales possibilities in the pre-paid system and development perspectives of the researched business entity. As part of its operations, this entity is responsible for the supply of fuel to nearly 4,500 customers conducting business operations throughout Poland. The study was carried out by means of the method of quantitative analysis of economic data. The acquired data constituted a closed set of 518 479 contacts collected as a result of reporting the work of the call center department. The purpose of the paper is to analyze the impact of the Covid-19 pandemic on the possibilities of acquiring new customers by the entity that sells pre-paid fuels and the prospects for its future development. The analyzes allowed showing the relationship, before and after the introduction of socioeconomic restrictions, between the number of sales contacts made and their effectiveness. It was proved that lockdown caused changes in the scope of managing executive operations within the call center of the entity. This, in turn, affected operational and management decisions at both ownership and management levels.

The global COVID-19 pandemic has greatly affected people, especially in the economic and banking sectors. The Indonesian Financial Services Authority (Otoritas Jasa Keuangan, OJK) issued a credit restructuring policy, effective from March 2020 to March 2022, to reduce credit and bank capital risk. This study proposes the bank risk scenario after the credit restructuring policy of the OJK moratorium in March 2022 and proposes the internal bank policy simulation to mitigate credit and capital risks in terms of Non-Performing Loan (NPL) and Capital Adequacy Ratio (CAR). The difficulty of this study is how to develop the risk scenario and to simulate the bank risk mitigation policy after the policy moratorium, while the COVID-19 pandemic is still ongoing and the economy is not yet normal. To that purpose, this study uses a system dynamics methodology with Powersim Studio 10© software that is able to make scenarios on the level of credit risk (NPL) and bank capital (CAR) and able to simulate internal bank policy to overcome the risk by considering the environmental and policy changes. Based on the policy simulation, it is recommended that bank can implement the restructuring policy to control the credit risk and strengthening the NPL monitoring activity in order to manage and decrease the loan impairment expenses. To increase CAR, the result shows that the combined policy consists of the NPL monitoring program, the interest rate and the operating cost management program is able to produce a significant increase in bank’s capital (CAR). The original contribution of this study is to provide new model of credit and capital risk scenario and risk mitigation simulation during the COVID-19 pandemic. The advantage of this study is that the model can be tested and implemented to other banks.

The COVID-19 pandemic impacted every aspect of life on a global scale. E-business has become a key factor influencing the profitability of businesses in various fields, regardless of their size. The aim of this study was to assess the effectiveness of e-business in entrepreneurship development in various fields during the COVID-19 pandemic. For this purpose, a panel analysis of data from 212 micro, small, medium-sized and large companies, and nine business sectors (trade, chemical, light, pharmaceutical, food, agricultural, HoReCo (hotel and restaurant industry), electronics and IT, transport) was used with data comparison for 2019 and 2020 in Ukraine, Bulgaria, Poland, Moldova and Georgia. The e-business platform was found to be the key indicator of maintaining performance during a pandemic. The analyzed questionnaire data show that 58% of respondents saw an increase in online income in 2020 compared to 2019 that in such sectors as trade, IT and pharmacy. There were 59% of respondents who saw the need to expand communication networks with existing and potential customers, because it was positively correlated with the efficiency of e-business. Besides, the results show that equity financing and proper liquidity management consolidate the economic performance of businesses in terms of return on equity and return on assets. Our findings are useful to managers and investors, and can help them make the best decisions about their management or investment activities. Moreover, the study demonstrates how companies were responding to the pandemic in order to identify sectors that are more vulnerable to the effects of the crisis and the key financial management decisions that companies need to make during the crisis.

The spread of the COVID-19 pandemic has caused an interruption to everyday life and the economy. In many countries, as in Croatia, tourism revenues account for one-fifth of the GDP, so any reduction in tourism revenues significantly impacts the economy. In Croatia, the peak season, July and August in 2020, was 54 percent and in 2021 was 84 percent of 2019 arrivals due to a better epidemiological situation. Based on the result of listed companies in the touristic sector on the Zagreb Stock Exchange in 2020, a multiple regression analysis defined a common indicator for detecting business results. The model of the common indicator is based on the ROE indicator, the ratio of business revenue and total assets and financial strength. The entire economy, especially the hotel industry, cannot survive the COVID-19 crisis without government support measures

Current study aimed at highlighting reflections of CSR and its role in supporting healthcare system in KSA during COVID 19 pandemic. Quantitative approach was employed through utilizing an online questionnaire distributed on total of (97) individuals within KSA hospitals which included managers of public relations, external relations or marketing in Saudi governmental or private hospitals within Saudi hospitals. Results of study indicated that the main hypothesis was accepted, and it was seen that CSR has the ability to positively influence and support the healthcare system in Saudi Arabia during COVID 19. Among the chosen dimensions of CSR (Reputation, Ethics, Social Orientation and Profitability), it appeared that ethics was the most influential aspect that has a main role in supporting and backing up the healthcare system in KSA during the pandemic, and this concept helped in supporting the Saudi healthcare system during the breakout of the pandemic from collapsing. Study recommended increasing the awareness of social responsibility among organizations in order to increase the relationship between stakeholders (organizations) and the community.

The aim of the research was to measure the impact of the COVID-19 pandemic on the dynamics of financial instruments in international trade. The study examined the dynamics of price changes and determined the impact of the COVID-19 pandemic on the price of futures contracts on the global market. The impact of the COVID-19 pandemic on the futures volatility dynamics in the global financial market was explored for major commodity groups. The least-squares method was used as the main regression testing tool, while dynamics of the indicators was assessed through graphical and trends methods. The study involves the World Bank’s data for 2000-2021. The impact of the COVID-19 pandemic on the coal, natural gas, metals, beverage and food futures price on the global financial market was established and proved to be statistically significant. It was found that the pandemic had a statistically significant impact on the volatility of futures for coal, natural gas and tin on the global financial market. The futures price is being affected by the COVID-19 pandemic because of the collapse of global supply chains and countries’ protectionist measures. In aggregate, this produces imbalances in the distribution of goods in the world and impedes their flow. The market is consequently responding to the restrictions imposed by the COVID-19 pandemic by raising prices. The results obtained open up new lines for research, in particular the impact of the COVID-19 pandemic on the supply and demand structure on the world commodity markets.

In recent years, tourism industry has become a very important sector within the national economy and for this reason, the tourism industry in Romania is considered to have an important role in achieving the objectives defined by the European Commission through the Agenda 2020. The resilience of Romanian tourism to economic crises is characterized by the involvement of all social and age categories in tourist activities, the tourist promotion of Romanian destinations in international circuits, the complexity of the forms of tourism within the destinations in Romania, the expansion of forms of tourism in disadvantaged areas, etc. During the economic crisis caused by the SARS-CoV-2 virus, tourism represented a means of growth, development and capitalization of rural spaces for the locals because, during the restrictions imposed by the authorities, the majority of tourists chose tourist stays in rural areas due to the calm, peaceful and wonderful scenery with a lot of experiences as horse riding, climbing, hiking, etc. The geographical location of Romania underlines a variety of natural components and landscapes, which outline partly the country's tourist potential: the Romanian Carpathians, the Danube River, the Black Sea with its coastline, the Danube Delta Biosphere Reserve, the Danube Gorge, flora and fauna of Romania and the man-made landmarks (monasteries, churches, etc.).

Albanian SMEs faced unforeseen difficulties during the period of the COVID-19 pandemic. This type of situation, unprecedented before, caused many problems in areas such as the management of activities, liquidity, human capital, sales, marketing, etc. This paper highlights the fact that during this pandemic period, Albanian SMEs felt the need to understand the most important risks that their activities face under these circumstances. The empirical study of this paper was based on the data collected to a structured questionnaire, to identify the perception of the type of risks Albanian SMEs face. Qualitative data collected by SMEs in the southern region of Albania were used for the successful realization of this study. These data were processed with the help of the statistical software SPSS v.21, using logistic regression. As a result, it was concluded that Albanian SMEs have preferences in the perception of some special types of risk that their activities face.

In Taiwan, real estate is not only the high price product but also is necessities. Every family needs real estate to live. Maybe, some citizens decide to rent house in the short period. But, major part of citizen will purchase real estate in the future. In past researches, evaluating performance of real estate mainly consider the function and condition of this house such as location, house type, floor, building age etc. However, the demand of specific consumer is importance factors to evaluate the performance of this customer. Especially, the requirement of real estate for consumer has been changed after COVID-19. The goal of this study is to build the evaluation model and relative criteria to evaluate performance of real estate in order to fit with the requirement of specific real estate consumer. Case study will be implemented for readers realize proposed method. Sensitive analysis will be executed and proposed method will be compared with traditional multi criteria method to justify the usefulness of this method. Some conclusion and future research will be taken over as ending.

This study was conducted to analyze the effect of liquidity ratios (LDR), profitability (ROA), and leverage (CAR) on the financial difficulties of banking companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2021 period, moderated by credit risk during the COVID-19 pandemic. 19. Financial Distress was measured using the Altman Z-Score model, and compared with conditions before the 2016-2019 pandemic, so that the research data was taken from the annual report for the 2016-2021 period. The samples collected were 27 companies. This study uses quantitative analysis techniques with linear regression and processed using SPSS 22. The results of this study indicate that during the pandemic period and before COVID-19 in Indonesia, liquidity, profitability and leverage ratios have a significant effect on financial difficulties. Credit risk as a moderating variable can only strengthen the influence of the liquidity ratio and profitability ratio. Meanwhile, the leverage ratio cannot be moderated by credit risk. In the pre-pandemic period of 2016-2019, it showed that the ratio of liquidity, profitability, and leverage could not be moderated by credit risk. The findings in this study explain that banking conditions are not in financial difficulty during the pandemic, but profits for companies are low. This anomaly is caused by over-liquidity from credit that is not widely distributed to the business sector.

During the recent COVID-19 pandemic, most countries are in a phase of slowing economic growth that causes long-term financial distress and leads to bankruptcy. This paper describes the accuracy of financial distress prediction of the healthcare sub-sector companies using the Altman Modified Z-Score, Springate, and Zmijewski methods. The level of accuracy is determined based on the suitability of the calculation results of the three models with the company’s bankruptcy data published on the Indonesia Stock Exchange and strengthened by the analysis based on the calculation of the type error I and II. Based on the level of accuracy and error types I and II, the Springate is the most accurate method in analyzing the financial distress prediction of the healthcare sub-sector companies with an accuracy rate of 91.4275. Comparing financial performance before and after the COVID-19 pandemic, the mean difference test shows that there is no significant difference in financial performance before and after the COVID-19 pandemic.

The purpose of this study is to analyze the influence of Entrepreneurship Capability, Agility, Business Transformation, Opportunity on Start-Up Behavior in E-Commerce Companies in Indonesia During the Covid 19 Pandemic. The quantitative method used in this study was applied to start-up companies in Greater Jakarta with a population of 522 start-ups. The sampling method in this study used a purposive sampling technique. Questionnaires were distributed using google form as many as 522 questionnaires, 200 questionnaires were returned. From the returned questionnaires, after sorting the completeness and fulfilling the requirements for testing, 187 questionnaires were obtained consisting of the founders. Primary data were collected through a questionnaire and then analyzed using statistical analysis methods using Partial Least Square SmartPLS version 3 program. The partial least square analysis results show that each of the factors: agility, entrepreneurship capability, business transformation and opportunity have a significant effect in increasing start-up behavior in Jabodetabek. This finding explains that in building a start-up, the founder must possess the agility entrepreneurship capability factor while still following business transformation and opportunities in developing the business. This study also found that the opportunity factor is the most dominant factor in increasing the start-up behavior of founders.

Since 2020, the world has been facing a global pandemic of the infectious disease COVID-19 caused by the coronavirus SARS-CoV-2. It has a negative impact not only on the economy of individual countries, but also on the financial and property situation of business entities, and thus on the lives of hundreds of millions of people around the world. The aim of this article is to present the results of the study and an assessment in terms of the impact of the COVID-19 pandemic on the development of the financial situation of hospitals in Europe after the first year of the pandemic in relation to the situation several years before the pandemic. The study covered the period from 2017 to 2020. An economic analysis based on basic statistical characteristics was conducted using the financial data of a survey population of 8,995 private and public hospital operating companies in Europe, including 2,769 from Western Europe and 6,226 from Eastern Europe. The research hypothesis was confirmed only for operating income (turnover), current ratio and solvency ratio, while it was not confirmed for asset situation. For the other analyzed economic quantities, heterogeneous results were obtained depending on the region of Europe in which the hospital is located.

The purpose of this study was to determine the impact of lifestyle and price on purchasing decisions. Individual variables include lifestyle and price. The regulatory variable is the Covid-19 plague, and the dependent variable is the purchase decision. The survey data were obtained from a food factory (coffee shop) in Semarang. Population sampling is used. Data are collected through research methods such as direct surveys. Structural Equation Modeling (SEM) testing is used for data analysis. The model of the mathematical equation is used in a statistical test to show the effects of the independent variables on the dependent and controlled variables. The results of the study suggest that: 1) Purchasing decisions do not directly affect lifestyle. 2) The decision to buy has a negative effect on the price. 3) During the COVID-19 epidemic, lifestyle had a positive effect on purchasing decisions. 4) Transmission variable COVID-19 had a positive effect on purchasing decisions during the epidemic. Before the plague, prices were lower than usual, but coffee experts kept their distance, avoided crowds, and cared about their health.

The objective of this study is to offer an empirical valuation of the relationship between external debt and economic growth in the Western Balkan (WB) countries, focusing specifically on the countries like Albania, Kosovo and North Macedonia, combined with other WB countries like Bosnia and Herzegovina, Montenegro and Serbia. The empirical model provides the impact of external debt and other control variables like total investments, population growth, inflation, literacy ratio, trade openness on economic growth in the Western Balkan countries, using a panel level data for 6 Western Balkan countries, covering a yearly time span: 2000-2022. Different estimation methodologies like Fixed Effects with Driscol and Kraay standard errors, robust LSDV and GMM estimates, were employed for the purpose of the research. The findings of the research confirm growth-deteriorating effect of external debt for target group of countries like Albania, Kosovo and North Macedonia and growth enhancement effect of external debt for the second group of countries like Bosnia and Herzegovina, Montenegro and Serbia. Other control variables like total investments, trade openness, inflation and population growth are found as crucial factors on explaining growth performance of the WB countries. In addition, COVID-19 interacted with external debt and financial crisis interacted with external debt, appears as crucial factors explaining growth pattern of the WB countries.

Regarding the COVID-19 situation, the purpose of this study was to compare the efficiency and outcomes of information technology (IT) project implementation in the office versus in a remote environment with respect to factors such as productivity, effective teamwork, enjoyment of work, stress and pressure management, and opinions on working styles. The focus was mainly on the role of team members in the engineering mindset. Data was collected through a survey of IT project performance from team members. The questionnaire, which was developed for this study, included 105 respondents and was divided into three parts: 1) general information, 2) project performance results, and 3) engineering mindset concept. Quantitative data were analysed using descriptive statistics. The results of the study indicated that there are significant differences in outcomes between project managers and other team members (such as developers, business analysts, and quality assurance) in terms of the studied factors, Project managers who need to communicate and collaborate with various team members may face challenges or limitations when working remotely. On the other hand, other roles in the project team that can be completed independently and do not require frequent communication with the rest of the team may find remote work more convenient and flexible. Importantly, the survey results also demonstrated that a team member's engineering mindset is a critical factor in the success or failure of projects. Those with a strong engineering mindset tend to implement and deliver projects effectively. Therefore, IT projects are more likely to be successful when the team has a good engineering mindset.

COVID 19 hit the world during the end of 2019 and beginnings of 2020, the virus was deadly and fast to spread which had caused a lot of disturbance among country in terms how to avoid such crisis and make sure to get out of it with the least losses possible. The current research sought to examine the impact of situational leadership theory and its dimensions (directive, supportive and delegative) in enhancing organizational performance during COVID 19 pandemic, and how this type of leadership managed to preserve the best performance of many organizations. Depending on quantitative approach and utilizing an electronic questionnaire, researcher adopted a sample of (344) managers and leaders within Kuwaiti SMEs during the fiscal year 2021-2022. SPSS was used to analyze collected primary data, and outcomes of analysis indicated that situational leadership helped a lot during COVID 19 breakout as it saved and preserved an acceptable level of performance among SMEs, in addition to that, it was seen that the directive leadership style of situational leadership theory was the most influential in running a good and acceptable level of performance during the pandemic. Based on such results, current research recommended the need to increase attention to the fact that one of the defects of situational leadership is its failure to identify the leadership skills required for certain situations, and thus it is necessary to identify these skills and work on developing them among individuals.

The crisis associated with the COVID-19 pandemic hit all industries in Poland. It is mostnoticeable for small and micro enterprises, which are particularly exposed to the risk of losingfinancial liquidity. Small payment bottlenecks, interruptions in production, sales or services,immediately affect the financial security of these entities. The COVID-19 pandemic has shaken thefinancial condition of virtually all service enterprises in Poland. Closing borders and quarantineforced on many entities hindered the flow of products in integrated supply chains, which significantlyimpacted the functionality of enterprises providing transport services. The purpose of this article is anattempt to present a strategy for managing liquidity in transport enterprises during the COVID-19pandemic. The article presents strategies for managing liquidity in the period before the pandemicand during its first three months. The article presents selected mechanisms that were used bymanagers of small enterprises at the time of the appearance of the COVID-19 pandemic. The periodof three months is too short a time to assess whether the tools used were effective and have broughtmeasurable benefits, which is why this article is an introduction to the wider research that will becarried out in the future.

This study aimed to explore the impacts of COVID 19 pandemic on the consumer online purchasing behaviors in Jordan. A descriptive analytical approach was adopted. The population involves all the online consumers in Jordan who shopped online during the pandemic. The researcher passed the questionnaire forms to 200 students by email who were selected from three Jordanian universities that are located in Amman. Those students were selected randomly. All the forms were filled and retrieved. All the retrieved forms were analyzed statistically. The response rate is 100%. The questionnaire was developed by the researcher based on the literature that was reviewed. SPSS software was used. Means and standard deviations are calculated. The researcher concluded the COVID 19 pandemic has a moderate impact on consumer online purchasing behaviors in Jordan. That was concluded from the perspective of the students who are enrolled at Jordanian universities. The researcher found that there are differences between the respondents’ views which are attributed to gender for the favor of females. She recommends taking the recent purchasing trends into consideration when setting marketing plans by plan developers.

The purpose of this study is to assess the level of accounting conservatism among Jordanian industrial companies listed on the Amman Stock Exchange. Using the methodology utilized in this analysis, the study compares the succeeding period to the time previous to the required use of International Financial Reporting Standards (IFRS) (Basu, 1997). Furthermore, the study assesses the level of accounting conservatism in the firms studied during the COVID-19 epidemic. A cross-sectional examination of time series data from 2002 to 2021 was used in this study. The study community included 54 Jordanian industrial companies registered on the Amman Stock Exchange. To derive the findings, the study used an analytical-descriptive technique to gather and analyze data. The findings show that the concept of accounting conservatism was used for accounting profits prior to the mandated use of IFRS (2002–2008), although at a low level. The research also found that the companies that were evaluated had implemented the concept of accounting conservatism for accounting profits throughout the time after the compulsory use of IFRS (2009–2019), but to a high degree. This was observed in the second part of the study. The study’s results showed that accounting rules got stricter after the COVID-19 epidemic hit in 2020 and kept going through 2021.

Local currencies are tools typical of the social economy, affecting the real economy and serving as an instrument for reducing instability, including economic fluctuations, especially in times of crisis, difficult economic situation, etc. They are an alternative to national currencies, but they also help to support local traders. An example of a local currency is the Zielony Polish Local Currency introduced by the group of enthusiasts in 2015. Local currencies contribute to building the local community, supporting cooperative activity and the local economy, and promoting sustainable development. They also protect local communities from the negative consequences of economic fluctuations. The aim of the work is to determine the impact of local currencies on increasing the level of economic security of the region especially during periods of economic security risks, e.g. in the context of the epidemic risk caused by COVID-19. The work is theoretical. The methods used in the work are: critical literature analysis and statistical method.

The global pandemic due to the spread of coronavirus COVID-19 has caused an economic crisis that mankind has not known since the Great Depression of the 1930s. The post-pandemic crisis has affected all areas of socio-economic life in all countries of the world. Under these conditions, it is especially important to study such transformational effects, the source of which should primarily be the data of accounting and financial reporting of business entities. The article is devoted to the study of the transformational impacts of the global COVID-19 pandemic on accounting of certain types of assets and provisions and the development of the directions of its improvement in the conditions of such impacts, focusing on the example of Ukrainian business. The article focuses on the role of the accounting and business disclosure in reporting on the conditions of the global COVID-19 pandemic; the objects of the accounting sensitive to the influence of COVID-19 have been carried out. Possible directions for improving the accounting of inventories, accounts receivable, financial investments (debt instruments), and provisions for future payoffs and payments due to the effects of the global COVID-19 pandemic have been given. The prospects for further research are to improve the proposals and practical recommendations presented in the research, as well as the development and practical testing on their basis of accounting and analytical models for assessing possible future risks of the COVID-19 pandemic for management purposes and to disclose risk assessment in financial reporting.

Over a year has passed since the beginning of Covid-19 pandemic and the introduction of measures to limit the spread of the pandemic in Latvia. These have resulted in changes in all spheres of young people's lives, including the way they study and exercise. This study examines the role of Generation Z physical activity as a means of maintaining the well-being of the emerging workforce and the choice of teaching methods by different age groups and genders as well as the finances spent on it. The research methods include critical content analysis of scientific literature on Generation Z, modern teaching methods and the role of physical activity in young people's lives as well as descriptive statistical data analysis of primary data obtained from a questionnaire. The authors found positive correlation between age, gender, the occurrence of depressing mood or anxiety and engagement in physical activity and also identified that Generation Z spends less financial resources for their physical activities and well-being insurance (e.g., the empirical study shows that 84% of respondents spend under 20 hours per month on physical activity, with Chi-Square test p = 0.001); additionally, the study shows that the use of such teaching methods as group work, seminars and webinars for promoting physical activities are efficient under the Covid-19 pandemic situation, except for responders aged 16 – 19, who do not enjoy seminars and conferences (p=0.002) and webinars (p=0.001), albeit other age groups do not mind these teaching methods as well as group work, as shown by Chi-Squared Test (p>0.05).

The Covid-19 pandemic requires prudence, especially in the ratio of credit or liquidity in the banking sector and the role and supervision through the implementation of good corporate governance is required intensively to go through dynamic policy changes. This study aims to examine the effect of liquidity on bank performance and examine the effect of liquidity on bank performance after being moderated by good corporate governance. The research methodology uses multiple linear regression techniques using SPSS 25 software, with the research sample being the conventional banking sector listed on the Indonesia Stock Exchange in 2019-2021 totaling 111 research samples. The results showed that liquidity had no effect on bank performance with the significant value 0.491>0.05. Corporate governance moderated the negative effect of liquidity on bank performance with the significant value 0.028< 0,05 and coefficient -0.786.

The COVID-19 pandemic brings significant effects to the global stock market, including Indonesia. This study investigates the behavior and fluctuation of Jakarta Composite Index (JKSE) before the COVID-19 pandemic arises (2018–2019) and 2 years during the COVID-19 pandemic (2020–2021) and its alignment with the government policy in the energy sector. This study will use the JKSE data before and during the Covid-19 pandemic. The study showed that before COVID-19 pandemic, the JKSE was in normal conditions and showed an increasing trend. However, the study found anomalies in the JKSE volatility when COVID-19 pandemic was officially announced in Indonesia during 1st quarter 2020. This study is able to find the forecasted next 30 days best models that can describe the pattern of JKSE data are AR (2)–GARCH (1,1) models for the closing price of JKSE data before the COVID-19 pandemic and AR (5)–GARCH (1,1) models for the closing price of JKSE data during the COVID-19 pandemic. With the government economic recovery program related to the energy sector, this study was able to forecast the next 30 days for the closing price of JKSE during COVID-19, which showed the improvement of JKSE into the small increasing trend. These findings are expected to increase public investor trust, especially foreign investors investing their money in the JKSE. The positive trend in JKSE will ensure the government continues its economic policy recovery plan.

Different academics and experts have acknowledged that developing the financial sector positively impacts economic growth by increasing productivity, progress and national investment. Expanding the financial sector allows financial intermediaries to carry out functionalities of deploying, aggregating and directing a country’s savings into an investment which contributes to domestic progression. This research explores the effect of financial deepening on Nigeria’s growth for 38 years covering 1981- 2018. The main research goals were to investigate the linkages among time and savings deposit of commercial banks, money supply and credit to the private sector on the economy’s growth. Data was obtained from CBN Bulletin different issues and analyzed using Autoregressive Distributed Lag. From the result of analysis, we found out that long run relationship existed but no regressor was found to be significant. Credit to the private sector to GDP was inversely related to GDP growth whereas money supply to GDP had positive relations with economic growth rate, time and savings deposits in commercial banks negatively affected national growth. Policies favoring credit lending to the private sector should be encouraged by stakeholders in the economy, for instance, higher savings interest rates would encourage more savings. More importantly, policies should be enacted to make sure that savings are transmitted into productive investments that can yield financial deepness

Fiscal policy remains a crucial and powerful strategy to improve the welfare of citizens. During the last three decades, Albania has faced enormous social-economic challenges, raising the necessity for an adequate fiscal policy under the current economic situation. The correlation between fiscal policy and economic growth is a highly debated topic in literature reviews, as some of the fiscal tools do not influence in the same direction on economic growth. The purpose of the article is to see the influence of Automatic Stabilizers (AS) on the Economic Growth of Albania during the period 1999-2022. Most of the topics have been focused on the influence of active fiscal policy on economic growth despite this an unclear gap exists about the influence of the automatic fiscal policy, especially in Albania reality. The secondary data of the Ministry of Finance and INSTAT institutions about the variables and the factors that influence them like the tax system, tax revenues, and public expenditures are analyzed for this purpose. The conclusions reveal the necessity to improve especially the formula of the tax system according to the challenges of the economy. For almost three decades, the data of Automatic Stabilizers (AS) have been included in the multiple linear regression equation using the Ordinary Least Square (OLS) technique. The empirical result shows a narrow positive impact range of Automatic Stabilizers on Economic Growth. The change in the tax system and events such as the earthquake on November 9th, 2019, and the Covid-19 pandemic seem to have had a huge impact on this relationship. As Automatic Stabilizers have to do with vulnerable groups (social assistance is part of AS), some actions should be undertaken focusing on the improvement of the tax system, according to optimal management of expenditures. Applying the best practices to increase the revenues of vulnerable groups is necessary to cope better with the increasing actual rate of inflation.

This paper investigates credit supply endogeneity in the Italian environment from 1999 to 2009. The study aims to shed more light on the relationship between securitization and the Italian monetary transmission mechanism during the two most recent financial crashes: the dot-com bubble burst (1998-1999) and the subprime mortgage crisis (2008-2009). Recently many works are focused on how securitization affects the relationship between credit channel and monetary policy. Altunbas et al. (2009) conclude that banks' securitization increases loans supply insulating banking system from negative shocks of monetary policy. The empirical results show that securitization increases credit supply endogeneity reducing the effect of monetary policy on the Italian banking system.

In recent years, we have seen a return of web-based applications built with new ideas and new commercial models. The key momentum for the development of such applications is the Web 2.0 technology. Web 2.0 websites are dynamic and characterized by user interaction, sharing, and participation. The emergence of this new business model brings new business opportunities. In fact, website users are the main contributors of business opportunities. Thus, for operators of Web 2.0 websites to enjoy the business opportunities, understanding user behavior is of great importance. In this study, Technology Acceptance Model 2 (TAM2) is adopted as the research framework to explore relationships between constructs associated with Web 2.0 website user behavior. Data are collected through a questionnaire survey. Hypotheses are proposed and validated through Confirmatory Factor Analysis (CFA) and Structural Equation Modeling (SEM) in order to understand user acceptance of Web 2.0 websites. Results show that most of the hypotheses proposed on the basis of TAM2 are empirically supported. It can be inferred that the current Web 2.0 websites are generally accepted by users. Moreover, from the research results, users' intentions and behavior associated with use of Web 2.0 websites can be understood; hence, the results serve as a reference for those planning to start a business on Web 2.0 websites. It is believed that Web 2.0 websites will continue to be the source of new business opportunities on the web.

Unit Root and Cointegration tests as well as autoregressive distributed lag (ARDL) are used in this study to assess how selected macroeconomic variables and foreign direct investment (FDI) impact foreign trade (FT) of Jordan for the period (2010-2020). The automatic (ARDL) (E-view) method was used to assess the long-run relationship between the variables, represented in GDP, inflation rate (INFR), interest rate (IR), and FDI as independent variables, and international trade as a dependent variable. Study findings showed a positive and significant relationship between selected macroeconomic factors and direct investment in foreign commerce. This suggests that an increase in FDI by 1% results in a (0.13%) increase in foreign commerce provided that all other conditions remain constant. Gross domestic product (GDP) and foreign trade (FT) have a statistically significant positive association. The association between inflation rate (INFR), interest rate (IR), and international trade are negative and statistically significant. According to the data modified R-square (option R2) amounted to (84.2%), means that independent variables account for (84.2%) of the variation in GDP shares derived from international trade.

This study assesses the competitiveness of the fats and oils sector in Colombia in 2019 using a peer group approach. The analysis is applied to 13 companies in the sector classified as individual small- and medium-sized enterprises. The main findings were developed considering the reports of the Superintendence of Companies in 2020. The methodology used is a competitiveness analysis supported by financial indicators and the data envelopment analysis under the Charnes, Cooper & Rhones -CCR- model, considering the value of assets and revenues as input and profitability indexes (operating margin, return on assets, and return on equity) as output. The companies that are efficient and should be role models were identified. The main findings were the low attractiveness of the sector with 0.253 (it should be greater than 1 and grow over time), the business success level according to which a company located in the Department of Casanare is the leader, and the relationship between the variables that reflects an average technical efficiency of 0.7162 (on a scale of 0 to 1). Of all the companies, three are referents for the achievement of technical efficiency owing to the best use of the model input resources

In this paper, there was investigated tourism demand and supply functions in the case of Azerbaijan. The authors have applied the 2SLS method to identify these functions. The authors came to the conclusion that the demand function of tourist trips to Azerbaijan varies depending on the level of income of tourists’ origin countries and the price level in Azerbaijan. Unfortunately, the COVID-19 pandemic impacts not only the restriction policy of origin countries, as well as income in these countries. By decreasing the income levels of the population in these countries will be decreased the number of tourists to Azerbaijan.

The purpose of the research is to present the features of digitization of business processes in enterprises as a foundation on which the gradual formation of Industry 4.0 and the search for economic growth in new virtual reality, which has every chance to be a decisive step in implementing digital strategy for Ukraine and development of the innovation ecosystem. Key problems that arise during the digitalization of business processes in enterprises are presented, among which are: the historical orientation of production to mass, “running” sizes and large batches; large-scale production load; the complexity of cooperation and logic between production sites. It is determined that high-quality and effective tools of innovation-digital transformation in the conditions of virtual reality should include: a single system of on-line order management for all enterprises (application registration – technical expertise – planning – performance control – shipment); Smart Factory, Predictive Maintenance, IIoT, CRM, SCM. Features of digital transformation in the part of formation of enterprises of the ecosystem of Industry 4.0 are revealed. The capabilities and benefits of using Azure cloud platform in enterprises, which includes more than 200 products and cloud services, are analyzed. Azure is said to support open source technologies, so businesses have the ability to use tools and technologies they prefer and are more useful. After conducting a thorough analysis of the acceleration of deep digitalization of business processes by enterprises, authors proposed to put into practice Aruba solution for tracking contacts in the fight against COVID-19. Aruba technology helps locate, allowing you to implement flexible solutions based on Aruba Partner Ecosystem using a USB interface. It is proposed to use SYNTEGRA – a data integration service that provides interactive analytics and provides data models and dashboards in order to accelerate the modernization of data storage and management, optimize reporting in the company and obtain real-time analytics. The possibilities of using Azure cloud platform during the digitization of business processes of enterprises of the ecosystem of Industry 4.0 in the conditions of virtual reality are determined.

The purpose of scientific research is to present the features of digitization of business processes using artificial intelligence at enterprises as a foundation on which the gradual formation of Industry 4.0 is built and the search for reserves of socio-economic growth in the conditions of the development of digital ecosystem and digital entrepreneurship. Presentation of a number of positive and negative consequences of the influence of artificial intelligence on the operation of digital infrastructure, as well as to indicate possible approaches in the practical application of artificial intelligence based on the substantive characteristics of its construction. The results and forecasts of four waves of modern development of artificial intelligence are presented, including: increasing the profits of Internet companies, monetization of creative Internet applications; reducing the number of cases of non-repayment of loans, establishing objective diagnoses, court decisions, etc.; protection of phones and digital wallets; payment by face scan. It was determined that the expected high-quality product of the fourth wave of modern development of artificial intelligence will be computer intelligence that understands and changes the world, a direct economic benefit first of highly structured environments, and then of other spheres of human activity. The peculiarities of the application of artificial intelligence in the course of the formation of digital enterprises of Industry 4.0 are revealed. The possibilities and advantages of the application of technical capabilities on which the development of artificial intelligence technology is based are analyzed. Approaches to the practical use of artificial intelligence are indicated, including: the synthesis of a human likeness with an independent thinking platform; predictive analytics; methods of control, planning and dispatching; storage, processing and presentation of knowledge. Having conducted a thorough analysis in parts of the acceleration of deep digitalization of business processes with the help of artificial intelligence, authors determined the impact of digitalization process and the operation of digital platforms on the transformational changes of enterprises. It has been found that digitalization lowers the barriers to market entry for small businesses, which have significantly expanded their niche and limited the monopoly of large companies, and the development of digital platforms determines the so-called network effects, when a large number of platform users creates conditions for the emergence of even more consumers. The directions for the development of artificial intelligence technologies are proposed, among which are named: creation of tools for users that allow to simplify the configuration of AI components of systems and to perform some actions without the involvement of developers. A step-by-step algorithm for setting up AI models is defined, namely: definition of the goal; tool selection; configuration and training of the model; hypothesis testing and model optimization; analysis of results.

Current labour market is influenced by uncertainty posed by challenges of occurring trends. Those trends are on the one hand shaped by demographic changes influencing labour supply and on the other hand transformations provided by 4th industrial revolution. Emerging innovative technological development, in addition to demographics and rising inequality, brings widespread automation and irreversible shifts in the structure of jobs giving rise to new opportunities but also creating new areas of uncertainty. The unpredictability of the labour market sets new tasks for the institutions supporting better adjustment of labour supply to demand needs. Crucial institution realizing those tasks are career counsellors who provide their service for different groups of clients. Effective career guidance is determined by comprehensive competences of counsellors. It should be noted that with regard to competences in the context of Industry 4.0, most of the research to date has focused on the analysis of employees' competences rather than on the competences of career counsellors. The development of the future labour market is subject to a hitherto unknown transformation. These premises, as well as the originality and validity of the research, both in the national and European dimension, prompted the authors to conduct innovative qualitative study. The aim of the article is to identify future competences of career counsellors in line with the ongoing trends on the labour market