Vol. 10 No. 2 (2025) Current Issue

Published June 30, 2025

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Economics

  • What Drives Capital Financing in Europe? Evidence from Listed Firms in Germany
    14-31
    Views:
    192

    This article analyzed the factors that affect the capital financing of German non-financial corporations listed on the German Stock Exchange from 2017 to 2021. By applying a panel data regression model and the Generalized Least Squares (GLS) approach, the results show that the debt-to-assets ratio, equity multiplier, and long-term debt ratio are significantly impacted negatively by profitability as determined by the assets return. Firm size is positively correlated with both the equity multiplier and the long-term debt ratio, suggesting that larger companies use more long-term debt. Growth has a significant positive impact on the equity multiplier and long-term debt ratio but has little influence on the debt-to-assets ratio. Long-term debt is unaffected by liquidity, although the debt-to-assets ratio and equity multiplier are adversely impacted. The GMM method is used during the robustness check, and the findings are consistent with the major GLS  findings. These results highlight how important firm-specific factors are in influencing choices about financial structure. The results of this research may be used as a guide for companies operating in Europe and offer valuable information about how to optimize capital structures in various financial contexts. Policymakers could also use the results of this investigation as a reference for creating financial laws and regulations that facilitate non-financial enterprises' access to financing and effective capital allocation.

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    43
  • Strategic Role of Environmental Factors in the Operation of a Manufacturing Company: A Synthesis of Three Analytical Models
    56-74
    Views:
    89

    Nowadays, the operations of companies are influenced by increasingly complex internal and external factors, the systematic examination of which is essential for conscious strategy-making. The relevance of this study lies in the context of global economic instability, rapid technological advancement, and intensifying market competition, all of which present new challenges for organizations. The aim of the research is to demonstrate how the analysis of environmental factors can support strategic decision-making, with particular emphasis on a specific company case. The analysis was based on three established methods—PESTEL analysis, Porter’s Five Forces model, and the SWOT framework—which together enabled an integrated examination of macro- and micro-environmental factors as well as internal resources. The results highlighted several key strengths of the company, such as professional expertise, international presence, and the quality of customer relationships, while also identifying several areas in need of improvement, particularly in terms of pricing strategy, digital information accessibility, and internal communication. The novelty of the study lies in the combined application of the three analytical tools, which revealed interrelated insights and served as the basis for well-founded recommendations aimed at enhancing strategic flexibility and strengthening competitiveness.

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    19

Management Sciences

  • Impacts of Digital Communication Tools on Fashion Brands Success –The NUDE Project
    1-13
    Views:
    179

    The global scale, changing fashion industry can be characterised with low predictability, high volatility, seasonality, short life cycle products and highly impulse consumer purchasings decisions, addressing ethical and sustainability matters. Fashion as generic collecting name can be defined as styles of clothing and accessories worn at any time by different groups of people. One of the main opportunity and challenge for this complex, multi actors sector introducing digital solutions, which can provide significant contribution of restructuring the supply chains, optimising the production techniques, reducing its negative environmental externalities supporting the future sustainability. Possible reason beyond this digitization trend can be changing consumer attitudes and expectations. Majority of consumers have tendency using digital channels before, during and after their purchase, so fashion brands have to take into consideration this new reality. The convenience and accessibility of online enjoyable shopping opportunities have reshaped consumer expectations including personalized recommendations, and user-friendly online social media platforms (video channels, websites, mobile apps, and secure payment systems). Instagram, TikTok, YouTube and Pinterest have transformed the way fashion brands communicate and connect with their audience creating loyal social network. Digital transformation requires more than just implementing new technologies; it necessitates a cultural shift within fashion brands. Case study of the NUDE Project analysing its challenges and main competitors as well, can serve as an illustrative example how can the digital communication tools contribute to the fashion brand future success and prosperity.

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    35
  • Factors Influencing Female Entrepreneurship
    32-55
    Views:
    128

    The following research was conducted with the objective of identifying the factors that influence women to become entrepreneurs. It explores the effectiveness of support mechanisms, including mentorship programs, networking opportunities, access to financial resources, and policy interventions in enhancing the success of female entrepreneurs. Special attention is given to the decision-making threshold concept and the role of self-confidence. A multi-method approach was employed, entailed a comprehensive literature review, a qualitative analysis based on interviews, and a quantitative analysis conducted through surveys. The data obtained from these methods were triangulated to ensure robust insights. The research resulted in a model that illustrates the interrelationship between the scientific, practical and educational approaches. The findings highlight the potential of developing a motivation model for female decision-making in entrepreneurship, identifying key motivators, focusing on economic, social and personal factors with self-confidence as a central concept of study.

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    24

Culture Engineering Sciences

  • Optimization of Parking Lot Stormwater Management: a Case Study
    75-95
    Views:
    50

    As urbanization accelerates, parking lots lead to stormwater runoff and localized flooding due to impervious layers and inefficient drainage. This case study evaluates stormwater management strategies across four parking lots in Debrecen, Hungary, to propose effective retrofitting solutions. The methodology combines visual site assessments with a comparative analysis of global best practices identified in the literature. Findings suggest integrating Green Infrastructure (GI) and Low Impact Development (LID) principles into parking lot design can enhance infiltration and significantly reduce surface runoff. Key recommendations include utilizing nearby vegetated depressions and replacing conventional concrete slabs with permeable surfaces. Beyond the flood avoidance, these strategies aim to reduce pressure on the local sewer system and minimize puddle formation.

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    25