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Canonical Correlation Analysis and a New Composite Index on Digitalization and Labor Force in the Context of the Industrial Revolution 4.0

Author

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  • Ane-Mari Androniceanu

    (Doctoral School of Management, Bucharest University of Economic Studies, 6, Piata Romana, 010374 Bucharest, Romania)

  • Irina Georgescu

    (Department of Informatics and Economic Cybernetics, Bucharest University of Economics, 6, Piata Romana, 010374 Bucharest, Romania)

  • Manuela Tvaronavičienė

    (Department of Business Economics and Management, Vilnius Gediminas Technical University 11, eLT-10223 Vilnius, Lithuania)

  • Armenia Androniceanu

    (Department of Administration and Public Management, Bucharest University of Economics, 6, Piata Romana, 010374 Bucharest, Romania)

Abstract

The current phenomenon of the economy-accelerated digitalization, known as the “Industry 4.0”, will generate both an increased productivity, connectivity and several transformations on the labor force skills. Our research objectives are to determine the influence that digitalization has had on the workforce in several developed countries and to propose a new composite indicator that reflects these dynamics over time. We have used the Canonical Correlation Analysis (CCA) in order to identify and analyze the correlations between two sets of variables, an independent one and a dependent one. Data were collected from the World Bank and World Economic Forum for the years 2018–2019. Based on the results of our research we have determined and made a consistent analysis of the new composite index of digitalization and labor force in 19 countries. The results of our research are relevant and show not only the impact of digitalization on the labor force in different countries, but also the structural changes required by the new economic and social models. Our research can help decision-makers get in advance the necessary measures in the field of labor force in order to ensure a proper integration of these measures into the new economic model based on digitalization.

Suggested Citation

  • Ane-Mari Androniceanu & Irina Georgescu & Manuela Tvaronavičienė & Armenia Androniceanu, 2020. "Canonical Correlation Analysis and a New Composite Index on Digitalization and Labor Force in the Context of the Industrial Revolution 4.0," Sustainability, MDPI, vol. 12(17), pages 1-20, August.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:17:p:6812-:d:402428
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    Cited by:

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    2. Mihai Andronie & George Lăzăroiu & Mariana Iatagan & Iulian Hurloiu & Irina Dijmărescu, 2021. "Sustainable Cyber-Physical Production Systems in Big Data-Driven Smart Urban Economy: A Systematic Literature Review," Sustainability, MDPI, vol. 13(2), pages 1-15, January.
    3. Ane-Mari Androniceanu & Raluca Dana Căplescu & Manuela Tvaronavičienė & Cosmin Dobrin, 2021. "The Interdependencies between Economic Growth, Energy Consumption and Pollution in Europe," Energies, MDPI, vol. 14(9), pages 1-23, April.
    4. Monika Adamczyk & Alina Betlej, 2021. "Social determinants of digital exclusion in an ageing society. The case of Poland," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(3), pages 122-135, March.
    5. Zsolt Sándor Kömüves & József Poór & Ladislav Mura & Arnold Tóth & Erika Varga & Gábor Hollósy-Vadász, 2024. "Labour Shortage and Labour Retention as a Possible Strategy in a Difficult Economic Situation Based on Empirical Data of a Transitioning Economy," Central European Business Review, Prague University of Economics and Business, vol. 2024(4), pages 103-121.
    6. Bożena Gajdzik & Włodzimierz Sroka, 2021. "Resource Intensity vs. Investment in Production Installations—The Case of the Steel Industry in Poland," Energies, MDPI, vol. 14(2), pages 1-16, January.

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