IDEAS home Printed from https://ideas.repec.org/a/spr/endesu/v23y2021i6d10.1007_s10668-020-00988-4.html
   My bibliography  Save this article

An impact of macroeconomic stabilization on the sustainable development of manufacturing enterprises: the case of Central and Eastern European Countries

Author

Listed:
  • Aleksandra Pieloch-Babiarz

    (University of Lodz)

  • Anna Misztal

    (University of Lodz)

  • Magdalena Kowalska

    (University of Lodz)

Abstract

Sustainable development is a socioeconomic development that respects environmental protection. It can be analyzed at a macro- and microscale. The goals of sustainable development are realized by ordinary people, politicians, organizations, and enterprises. At the enterprise level, sustainable development means an improvement in quantitative and qualitative conditions of running a business, the use of pro-ecological standards and solutions, and support of employee development. The sustainable development of enterprises depends on several factors, including macroeconomic conditions. The main aim of this paper is to show the impact of the macroeconomic stabilization on the sustainable development of the manufacturing enterprises in the Central and Eastern European Countries (CEECs). We examine only the CEECs which are the members of the European Union. Considering this, we focus on the eleven counties (i.e., Bulgaria, Croatia, Czechia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic, and Slovenia) in the period from 2008 to 2018. The main hypothesis is formulated as follows: Macroeconomic stabilization has a statistically significant impact on the sustainable development of manufacturing enterprises in the period from 2008 to 2018. The results of the study indicate that in all analyzed countries there is a statistically significant relationship between the indicator of sustainable development (SISDE) and the indicator of macroeconomic stabilization. The highest level of correlation was observed in Czechia, Poland, and Hungary, while the lowest in Estonia.

Suggested Citation

  • Aleksandra Pieloch-Babiarz & Anna Misztal & Magdalena Kowalska, 2021. "An impact of macroeconomic stabilization on the sustainable development of manufacturing enterprises: the case of Central and Eastern European Countries," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(6), pages 8669-8698, June.
    • Handle: RePEc:spr:endesu:v:23:y:2021:i:6:d:10.1007_s10668-020-00988-4
    DOI: 10.1007/s10668-020-00988-4
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10668-020-00988-4
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10668-020-00988-4?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Matthias Ruth & María E. Ibarrarán (ed.), 2009. "Distributional Impacts of Climate Change and Disasters," Books, Edward Elgar Publishing, number 13215.
    2. Jaraite, Jurate & Kažukauskas, Andrius & Lundgren, Tommy, 2012. "Determinants of Environmental Expenditure and Investment: Evidence from Sweden," CERE Working Papers 2012:7, CERE - the Center for Environmental and Resource Economics.
    3. Per Ahlgren & Bo Jarneving & Ronald Rousseau, 2003. "Requirements for a cocitation similarity measure, with special reference to Pearson's correlation coefficient," Journal of the American Society for Information Science and Technology, Association for Information Science & Technology, vol. 54(6), pages 550-560, April.
    4. Hilson, Gavin & Murck, Barbara, 2000. "Sustainable development in the mining industry: clarifying the corporate perspective," Resources Policy, Elsevier, vol. 26(4), pages 227-238, December.
    5. Li, Hongbin & Yang, Zheyu & Yao, Xianguo & Zhang, Haifeng & Zhang, Junsen, 2012. "Entrepreneurship, private economy and growth: Evidence from China," China Economic Review, Elsevier, vol. 23(4), pages 948-961.
    6. Adil Najam & Cutler Cleveland, 2003. "Energy and Sustainable Development at Global Environmental Summits: An Evolving Agenda," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 5(1), pages 117-138, March.
    7. Alan D. Smith, 2010. "Growth of corporate social responsibility as a sustainable business strategy in difficult financial times," International Journal of Sustainable Economy, Inderscience Enterprises Ltd, vol. 2(1), pages 59-79.
    8. Klapper, Leora & Laeven, Luc & Rajan, Raghuram, 2006. "Entry regulation as a barrier to entrepreneurship," Journal of Financial Economics, Elsevier, vol. 82(3), pages 591-629, December.
    9. Herwig Peeters, 2003. "Sustainable Development and the Role of the Financial World," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 5(1), pages 197-230, March.
    10. World Bank & International Monetary Fund, 2008. "Global Monitoring Report 2008 : MDGs and the Environment, Agenda for Inclusive and Sustainable Development," World Bank Publications - Books, The World Bank Group, number 6518.
    11. Ejaz Ghani & William R. Kerr & Stephen O'Connell, 2014. "Spatial Determinants of Entrepreneurship in India," Regional Studies, Taylor & Francis Journals, vol. 48(6), pages 1071-1089, June.
    12. Christina Weidinger, 2014. "Business Success Through Sustainability," CSR, Sustainability, Ethics & Governance, in: Christina Weidinger & Franz Fischler & René Schmidpeter (ed.), Sustainable Entrepreneurship, edition 127, pages 287-301, Springer.
    13. Emilia Krajnakova & Valentinas Navickas & Rima Kontautiene, 2018. "Effect of macroeconomic business environment on the development of corporate social responsibility in Baltic Countries and Slovakia," Oeconomia Copernicana, Institute of Economic Research, vol. 9(3), pages 477-492, September.
    14. Lele, Sharachchandra M., 1991. "Sustainable development: A critical review," World Development, Elsevier, vol. 19(6), pages 607-621, June.
    15. Sonali Shah & Emily Pahnke, 2014. "Parting the ivory curtain: understanding how universities support a diverse set of startups," The Journal of Technology Transfer, Springer, vol. 39(5), pages 780-792, October.
    16. Zoltan Acs & Sameeksha Desai & Jolanda Hessels, 2008. "Entrepreneurship, economic development and institutions," Small Business Economics, Springer, vol. 31(3), pages 219-234, October.
    17. Aivazian, Varouj A. & Ge, Ying & Qiu, Jiaping, 2005. "The impact of leverage on firm investment: Canadian evidence," Journal of Corporate Finance, Elsevier, vol. 11(1-2), pages 277-291, March.
    18. Kuen-Hung Tsai & Hui-Chen Chang & Chen-Yi Peng, 2016. "Refining the linkage between perceived capability and entrepreneurial intention: roles of perceived opportunity, fear of failure, and gender," International Entrepreneurship and Management Journal, Springer, vol. 12(4), pages 1127-1145, December.
    19. Martin Carree & André Van Stel & Roy Thurik & Sander Wennekers, 2007. "The relationship between economic development and business ownership revisited," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 19(3), pages 281-291, May.
    20. María Ibarrarán & Matthias Ruth & Sanjana Ahmad & Marisa London, 2009. "Climate change and natural disasters: macroeconomic performance and distributional impacts," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 11(3), pages 549-569, June.
    21. Virginija Grybaite & Manuela Tvaronavičiene, 2008. "Estimation of sustainable development: Germination on institutional level," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 9(4), pages 327-334, May.
    22. Sipos-Gug Sebastian & Badulescu Alina, 2015. "Macroeconomic Factors Of Entrepreneurship In The European Union," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 601-611, July.
    23. Ekins, Paul & Simon, Sandrine & Deutsch, Lisa & Folke, Carl & De Groot, Rudolf, 2003. "A framework for the practical application of the concepts of critical natural capital and strong sustainability," Ecological Economics, Elsevier, vol. 44(2-3), pages 165-185, March.
    24. Thomas Dyllick & Kai Hockerts, 2002. "Beyond the business case for corporate sustainability," Business Strategy and the Environment, Wiley Blackwell, vol. 11(2), pages 130-141, March.
    25. Elena Giovannoni & Giacomo Fabietti, 2013. "What Is Sustainability? A Review of the Concept and Its Applications," Springer Books, in: Cristiano Busco & Mark L. Frigo & Angelo Riccaboni & Paolo Quattrone (ed.), Integrated Reporting, edition 127, chapter 2, pages 21-40, Springer.
    26. Pratima Bansal, 2005. "Evolving sustainably: a longitudinal study of corporate sustainable development," Strategic Management Journal, Wiley Blackwell, vol. 26(3), pages 197-218, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bielecka Elżbieta & Calka Beata, 2022. "Towards sustainable development exemplified by monitoring land use efficiency in Europe using SDG 11.3.1," Miscellanea Geographica. Regional Studies on Development, Sciendo, vol. 26(4), pages 208-214, October.
    2. Zhiyuan Dong & Zenglian Zhang, 2022. "Does the Business Environment Improve the Sustainable Development of Enterprises?," Sustainability, MDPI, vol. 14(20), pages 1-20, October.
    3. Anna Misztal & Magdalena Kowalska & Anita Fajczak-Kowalska, 2022. "The Impact of Economic Factors on the Sustainable Development of Energy Enterprises: The Case of Bulgaria, Czechia, Estonia and Poland," Energies, MDPI, vol. 15(18), pages 1-19, September.
    4. RADOIU Alina & BATUSARU Cristina Maria, 2022. "Sustainable Value Of Companies," Management of Sustainable Development, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 14(1), pages 10-15, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Calá, Carla Daniela, 2014. "Regional issues on firm entry and exit in Argentina: core and peripheral regions," Nülan. Deposited Documents 2023, Universidad Nacional de Mar del Plata, Facultad de Ciencias Económicas y Sociales, Centro de Documentación.
    2. Aparicio, Sebastian & Urbano, David & Audretsch, David, 2016. "Institutional factors, opportunity entrepreneurship and economic growth: Panel data evidence," Technological Forecasting and Social Change, Elsevier, vol. 102(C), pages 45-61.
    3. Ivano Dileo & Thaís García Pereiro, 2019. "Assessing the impact of individual and context factors on the entrepreneurial process. A cross-country multilevel approach," International Entrepreneurship and Management Journal, Springer, vol. 15(4), pages 1393-1441, December.
    4. Sarah Elena Windolph & Dorli Harms & Stefan Schaltegger, 2014. "Motivations for Corporate Sustainability Management: Contrasting Survey Results and Implementation," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 21(5), pages 272-285, September.
    5. Zoltan Acs & José Amorós, 2008. "Entrepreneurship and competitiveness dynamics in Latin America," Small Business Economics, Springer, vol. 31(3), pages 305-322, October.
    6. Paul McDonald, 2018. "Sustainability management: research insights from social cognitive neuroscience," Business Strategy and the Environment, Wiley Blackwell, vol. 27(8), pages 1355-1367, December.
    7. Anna Żelazna & Matylda Bojar & Ewa Bojar, 2020. "Corporate Social Responsibility towards the Environment in Lublin Region, Poland: A Comparative Study of 2009 and 2019," Sustainability, MDPI, vol. 12(11), pages 1-13, June.
    8. David Urbano & Sebastian Aparicio & David Audretsch, 2019. "Twenty-five years of research on institutions, entrepreneurship, and economic growth: what has been learned?," Small Business Economics, Springer, vol. 53(1), pages 21-49, June.
    9. Marco Vivarelli, 2013. "Is entrepreneurship necessarily good? Microeconomic evidence from developed and developing countries," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 22(6), pages 1453-1495, December.
    10. Zheng, Liang & Zhao, Zhong, 2017. "What drives spatial clusters of entrepreneurship in China? Evidence from economic census data," China Economic Review, Elsevier, vol. 46(C), pages 229-248.
    11. Carla Daniela Calá & Miguel Manjón-Antolín & Josep-Maria Arauzo-Carod, 2016. "Regional determinants of firm entry in a developing country," Papers in Regional Science, Wiley Blackwell, vol. 95(2), pages 259-279, June.
    12. Emilio Congregado & Vicente Esteve & Antonio A. Golpe, 2013. "From complements to substitutes: Structural breaks in the elasticity of substitution between paid-employment and self-employment in the US," Working Papers 1319, Department of Applied Economics II, Universidad de Valencia.
    13. Luca Farè & David B. Audretsch & Marcus Dejardin, 2023. "Does democracy foster entrepreneurship?," Small Business Economics, Springer, vol. 61(4), pages 1461-1495, December.
    14. Tobias Hahn & Jonatan Pinkse & Lutz Preuss & Frank Figge, 2015. "Tensions in Corporate Sustainability: Towards an Integrative Framework," Journal of Business Ethics, Springer, vol. 127(2), pages 297-316, March.
    15. Gil Avnimelech & Yaron Zelekha, 2023. "Religion and the gender gap in entrepreneurship," International Entrepreneurship and Management Journal, Springer, vol. 19(2), pages 629-665, June.
    16. Endl, Andreas & Tost, Michael & Hitch, Michael & Moser, Peter & Feiel, Susanne, 2021. "Europe's mining innovation trends and their contribution to the sustainable development goals: Blind spots and strong points," Resources Policy, Elsevier, vol. 74(C).
    17. Jones, Lindsey & d'Errico, Marco, 2019. "Whose resilience matters? Like-for-like comparison of objective and subjective evaluations of resilience," World Development, Elsevier, vol. 124(C), pages 1-1.
    18. Mara Del Baldo & Maria-Gabriella Baldarelli, 2017. "Renewing and improving the business model toward sustainability in theory and practice," International Journal of Corporate Social Responsibility, Springer, vol. 2(1), pages 1-13, December.
    19. Luis Medrano-Adán & Vicente Salas-Fumás & J. Sanchez-Asin, 2015. "Heterogeneous entrepreneurs from occupational choices in economies with minimum wages," Small Business Economics, Springer, vol. 44(3), pages 597-619, March.
    20. Simone Carmine & Valentina De Marchi, 2023. "Reviewing Paradox Theory in Corporate Sustainability Toward a Systems Perspective," Journal of Business Ethics, Springer, vol. 184(1), pages 139-158, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:endesu:v:23:y:2021:i:6:d:10.1007_s10668-020-00988-4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.