The South East European Journal of Economics and Business

THE IMPACT OF GREEN SKILLS MISMATCHES ON GREEN JOB CREATION: EVIDENCE FROM NORTH MACEDONIA

Tue, 17 Mar 2026 07:22:24 +0000

The green transition and the adoption of new green technologies impact all workers, necessitating upskilling and reskilling to remain relevant to the changing labour market. The dynamics of the green transition is determined by many factors including the required green skills and related skills mismatches. Hence, the aim of this paper is to assess the impact of green skills mismatches on green job creation in North Macedonia. The empirical analysis is based on a survey of a representative sample of 530 companies, randomly selected from all regions, economic activities and company sizes. The green job creation is assessed by estimating fractional logit regression. Besides the standard control variables, particular attention has been paid to the underskilling, overskilling, skills deficits, skills obsolescence and horizontal skills mismatches. The results reveal that the green jobs creation is considerably limited by the presence of underskilling and skills obsolescence, while horizontal skills mismatches are emphasized as a problem that weakens the short run planning of green jobs. Accordingly, we suggest policy measures in the fields of education and business cooperation aiming to overcome skill mismatches and accelerate the green transition.

INVESTIGATING YOUTH HAPPINESS: THE INTERPLAY OF FINANCIAL SELF-EFFICACY, BEHAVIOR, AND SATISFACTION

Ivan Balabanic, Irena Palić, Dajana Barbić — Tue, 17 Mar 2026 07:27:58 +0000

This study examines the interplay of financial self-efficacy, financial behavior, financial satisfaction, and life satisfaction of young individuals using Psychological Capital Theory (PCT). Analyzing data from 970 high school and university students in Croatia using structural equation modeling, we find that higher financial self-efficacy positively influences financial behavior. Additionally, responsible financial behavior significantly enhances financial satisfaction, which in turn boosts life satisfaction. Our results indicate a partial mediation effect of financial satisfaction between financial self-efficacy and life satisfaction. The study suggests incorporating behavioral interventions in financial education programs to increase self-efficacy and financial capability perceptions among youth. These interventions have the potential to improve financial behavior and overall happiness among young individuals. These insights are valuable for educational policymakers, financial advisors, planners, psychologists, and behavioral researchers. Effective financial education programs can thus contribute to enhancing youth satisfaction by focusing on increasing financial self-efficacy and responsible financial behavior.

THE IMPACT OF FINANCIAL DEVELOPMENT AND FINANCIAL INCLUSION ON INCOME INEQUALITY: EVIDENCE FROM OECD COUNTRIES

Fatos Geci, Valentin Toçi — Tue, 17 Mar 2026 00:00:00 +0000

This study examines the relationships between financial sector development, financial inclusion, and income inequality in OECD countries by utilizing panel data from 38 countries for the period 2010-2022. The impact of financial sector development and financial inclusion on Gini coefficient is examined, while applying fixed effects, random effects and GMM modeling. The results suggest that financial inclusion is associated with lower income inequality, while the effect of financial development, proxied by private sector credit, is positive but not statistically robust. We find that financial development, measured by private‑sector credit, is associated with higher income inequality — a pattern consistent with credit concentration in favor of higher‑income groups — whereas financial inclusion is associated with lower inequality, through channels of broadened access to savings, credit, and risk‑management. This study adds value to the existing literature by providing new empirical evidence on the dynamic interplay between financial and real sectors.

THE THE IMPACTS OF EPCS ON PRAGUE’S RESIDENTIAL MARKET RENTS

Tomáš Podškubka, Barbora Rýdlová, Josef Arlt, Tomáš Krabec — Tue, 17 Mar 2026 07:39:33 +0000

The EU has introduced legal regulations to mitigate climate change, and it is pertinent to investigate economic incentives to invest in higher Energy Performance Certificates (EPC). This paper examines the impact of EPCs on asking rents in Prague’s residential property market using a hedonic regression model. A newly collected dataset of 1,118 rental advertisements is analyzed, with control for the apartment total area, condition, location, and energy efficiency. The results indicate that more energy-efficient residential properties command a rental premium, even though the magnitude varies across location segments. In highly desirable areas, factors such as accessibility and prestige play a crucial role, while in less attractive areas, the EPC ratings are less pronounced. The findings contribute to the existing literature on the economics of energy efficiency by providing empirical evidence from a Central and Eastern European city, offering insights for policymakers, investors, and tenants.

ASYMMETRIC EFFECTS OF ISCED4 GRADUATES ON TOTAL AND YOUTH UNEMPLOYMENT IN ROMANIA: EVIDENCE FROM A NARDL FRAMEWORK

Daniela-Emanuela Dănăcică — Wed, 08 Apr 2026 18:45:08 +0000

The aim of this article is to analyse how changes in the number of post-secondary non-tertiary education (ISCED4) graduates influence the total unemployment rate and the youth unemployment rate in Romania over the period 1991-2023. Using a nonlinear autoregressive distributed lag (NARDL) framework, we decompose lnISCED4 into positive and negative partial sums to test for potential short-run and long-run asymmetries while controlling for EU accession and the global financial crisis. The NARDL results for total unemployment suggest a long-run relationship and significant short- and long-run asymmetry. However, with controls included, the long-run coefficients on lnISCED4+ and lnISCED4– are imprecise, implying that asymmetry mainly reflects short-run adjustment. A benchmark linear ARDL model provides stronger evidence of cointegration and points to a modest negative long-run association between lnISCED4 and total unemployment. For youth unemployment, the NARDL estimates show robust short-run asymmetry. Increases in ISCED4 graduates are followed by short-run increases in youth unemployment, whereas decreases are also associated with subsequent short-run increases, while long-run education-related coefficients remain statistically insignificant. Robustness checks using labour force normalised ISCED4 intensity measures indicate that long-run asymmetry and levels relationships are sensitive to scaling and a shorter 1996-2023 window. These findings underline that expansions in intermediate vocational supply may generate temporary youth labour market pressures when absorption and matching mechanisms are weak and may support policy-makers in designing complementary measures to improve school-to-work transitions.

HORIZONTAL MISMATCH AND LABOR MARKET OUTCOMES: EVIDENCE FROM KOSOVO

Fitor Murati, Ardiana Gashi, Wolfgang Frimmel — Mon, 27 Apr 2026 15:02:44 +0000

Horizontal mismatch, the misalignment between workers’ fields of study and their current occupations, is a structural issue in Kosovo’s labor market. Evidence on its consequences remains scarce and primarily descriptive. This study analyzes its impact on hourly wages, working hours, quit intentions, and short-term contracts using data from the Kosovo Labor Force Survey (LFS) for 2012–2023. While descriptive statistics and OLS estimates indicate lower wages and slightly higher working hours among mismatched workers, mismatch status may be non-random and subject to endogeneity concerns. To address selection on observables, kernel propensity score matching (PSM) is implemented as the primary estimator. The findings, consistent with existing literature, suggest that mismatched workers earn €0.163 less per hour (6 percent relative to the mean hourly wage) and work 0.374 additional hours per week (0.9 percent relative to the mean weekly hours) compared to adequately matched workers. The estimated effects on short-term contracts (−0.1 percentage points) and quit intentions (+0.3 percentage points) are small and statistically insignificant. Overall, the results suggest that the primary economic cost of horizontal mismatch in Kosovo operates through earnings penalties rather than contractual instability or pronounced dissatisfaction.

LINK BETWEEN ENTREPRENEURSHIP AND FORMAL INSTITUTIONS WITH REFERENCE TO THE LEGISLATIVE FRAMEWORK – EVIDENCE FROM META REGRESSION ANALYSIS

Ante Zdilar, Ana Ivandić, Zdenka Obuljen Zoričić — Wed, 06 May 2026 15:09:27 +0000

Summarising the results from a sample of 71 papers and 328 regressions, this paper provides new insights into the relationship between formal institutions and entrepreneurship. The results of the meta-regression analysis show that the basic effect of institutions on entrepreneurship is positive and statistically significant but becomes progressively weaker over time. However, when the analysis focuses on newly registered enterprises and controls for endogeneity, the results indicate an exceptionally strong, positive, and statistically significant effect of institutions on entrepreneurship in the short and medium term. The effect becomes even stronger if the models are specified without interactions of institutions with other variables. In contrast, this effect is absent in the case of women's entrepreneurship. The paper highlights precisely defined conditions under which formal institutions have the greatest impact on entrepreneurship. The evidence provides policymakers with clear guidelines to help them reshape institutional frameworks to increase the level and efficiency of entrepreneurship in the economy.

PERCEIVED RISK REMEDIES IN CROSS-BORDER E-COMMERCE – FROM THEORY TO PRACTICE VIA TRIANGULATION BETWEEN PLS-SEM & FSQCA

Vananh Phamthi, Akos Nagy, Trung Ngominh — Thu, 28 May 2026 14:33:31 +0000

This study examines how seven dimensions of perceived risk interact to shape purchase intention in cross-border e-commerce (CBEC). Using survey data from 400 Hungarian CBEC users, the study applies a dual method approach combining PLS-SEM and fuzzy-set qualitative comparative analysis (fsQCA). SEM results indicate that fraud risk and information risk exert significant negative net effects on purchase intention. However, fsQCA reveals multiple sufficient configurations, demonstrating that privacy risk and process & time loss risk become critical when combined with high fraud and information risk. The finding highlights that certain risk dimensions are configurationally important despite being statistically insignificant in linear models. By distinguishing between net and configurational effects, this study advances the multidimensional theory of perceived risk and provides actionable insights for SMEs prioritizing risk mitigation in cross-border markets.

UNDERSTANDING EMPLOYEES’ READINESS FOR CHANGE IN SMALL AND MEDIUM-SIZED ENTERPRISES: A MULTIDIMENSIONAL COMMUNICATION FRAMEWORK

Matea Cvjetkovic, Bojan Morić Milovanović, Tihana Babić — Thu, 28 May 2026 14:38:01 +0000

Drawing on internal communication and organizational change literature, this study develops a conceptual framework that examines the influence of internal communication on employee readiness for change. In theory, internal communication is recognized as an important prerequisite for employees’ perceptions and acceptance of change. Nevertheless, its role in small and medium-sized enterprises (SMEs) is not sufficiently studied, especially in the post-COVID-19 context which altered many communication preferences. To fill this gap, the proposed framework combines Internal Communication Satisfaction and perceived Quality of Change Communication, together with Work Demands and Information Overload as workplace stressors. The hypotheses were empirically tested through a quantitative survey of 454 employees from Croatian SMEs. Using a disjoint two-stage PLS-SEM approach, the findings confirmed that both Internal Communication Satisfaction and perceived Quality of Change Communication positively affect employee Readiness for Change. Results additionally revealed moderating and complementary mediating effects. The study has several theoretical contributions and offers practical implications for management.

THE MEDIATING ROLE OF SELF CONTROL IN THE EFFECT OF WORK STRESS AND BURNOUT ON IMPULSIVE BUYING

Havva Değirmenci Tarakcı, İlknur Ayar — Thu, 28 May 2026 14:42:10 +0000

This study investigates how work-related emotional burnout and work stress influence employees’ impulsive buying behaviors, focusing on the mediating role of self-control. By bridging the fields of consumer behavior and organisational studies, the research sheds light on how stress and burnout at work can spill over into personal consumption decisions. Data were collected from 1,228 employees across Turkey using established psychometric scales, and the hypotheses were tested through structural equation modelling. The results show that both emotional burnout and work stress significantly increase impulsive buying tendencies. More importantly, self-control emerged as a key factor in this relationship, suggesting that decreased self-control under stress and burnout leads to more impulsive purchasing behavior. These findings contribute to the literature by highlighting the psychological mechanisms that link work-related stress to consumer behavior, an area that has not been extensively explored. The study concludes by discussing implications for workplace interventions and suggesting avenues for future research to deepen our understanding of how occupational well-being influences financial decisions.