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The purpose of this paper is to provide a systematic review of the literature addressing internationalisation of firms from Central and Eastern Europe (CEE).

This paper presents an inter-disciplinary systematic review of literature about the internationalisation of firms from CEE.

Three different clusters of research were identified. In the “Internationalisation Processes” cluster, containing many comparative studies, the focus is on specific approaches adopted by local firms in the process of internationalisation. One of the leitmotivs is the dichotomy between hostile home-country factors that create the need for internationalisation and market-seeking motives that guide the search for international expansion. The “Internationalisation Variables” cluster aims to explain the reasons of success or failure of internationalisation processes and strategies; this cluster focuses on possible facilitating or hindering aspects experienced by CEE firms and one often-cited element is the firm’s network. Finally, the “Internationalisation Outcomes” cluster assumes a reverse approach when compared to the other two clusters. Indeed, the internationalisation phenomenon can also be studied in terms of its effect on the firm; the elements sought in these types of studies are both potential benefits and risks associated with internationalisation in CEE countries. The latter category in particular gives rise to interesting questions for future research.

Given that large, developed economies tend to receive much academic interest and that smaller transitional economies are not always adequately represented in the scientific discussion, this paper contributes to the literature on internationalisation.

The main purpose of this research is to analyse the efficiency of the main European monitoring frameworks to estimate the transition of the countries within the European Union (EU) towards circular economy (CE) using the example of Croatia.

Assessment methods with reliable data and appropriate indicators are essential when it comes to measuring transition and progress towards CE. The methodology employed in this research is a systematic and critical analysis of the seven European measurement frameworks employed to assess Croatia's progress towards CE.

The analysis revealed how EU's monitoring frameworks have developed over time and how useful they are in evaluating country's progress towards CE. The measurement tools and indicators proved, in the case of Croatia, insufficient for clarifying and understanding its progress towards CE. Selection of indicators within monitoring frameworks is arbitrary while their interpretation is highly contextual, dependent on policy targets and local conditions. These results can be extrapolated to other EU member states.

Policy recommendations for more efficient CE transitions are provided.

This research sheds light on the CE development in Croatia – an understudied European country in this context – and discusses the country's goals towards sustainability. The limited success of developed CE indicators is discussed.

The aim of this paper is to show how a bank's brand value is quantitatively assessed using the Interbrand methodology, taking into account the specifics of the banking market. Therefore, the objective of this paper is to review the ways in which brands contribute to the higher market value of banks by strengthening intellectual capital (IC), as reflected in increased levels of competitiveness and the reputation that the bank maintains in the minds of customers.

This paper applies the Interbrand methodology, which indicates that the assessment of brand value implies the determination of economic profit as the difference between the net operating profit after tax and the cost of capital. The brand profit is then calculated as the product of the economic profit and the index of the brand role. Brand value is obtained as the product of the brand's profit and the discount rate of the brand. In order to further test the results obtained through the application of the Interbrand methodology, linear regression was applied to the panel data in order to provide more efficient econometric estimates of the model parameters.

This research has shown that the Interbrand methodology's empirical foundations lie in the Montenegrin banking market, but also that, out of all of the analyzed parameters, the greatest significance is obtained from the profit of the brand, which influences the value of bank brands.

This research is related to the service sector–in this case, financial services – meaning that it is necessary to adjust the calculation of the weighted average cost of capital. Although the banking sector is a very competitive market, a limitation exists in the fact that the research was conducted only in Montenegro. In other words, in order to achieve a more detailed analysis, this methodology should be applied to more countries, such as those within the Western Balkans, as they have a relatively similar level of development.

A main contribution of this paper is that the assessment of the banks' brand value could be useful to future investors. Therefore, the improvement of the financial sector–in this case, banks–as institutions that hold a dominant position in the financial market in Montenegro, is a particularly important issue. It is important to point out that the research conducted could serve as a means by which to bridge the gap between theory and practice, since the methodology of the consulting company Interbrand has been optimized and adjusted to the Montenegrin banking market.

On considering the fact that most countries of the Western Balkans are at a similar level of development, the authors can conclude that, with the help of this adapted form of methodology, this research can be applied to assess banks' brand value in neighboring countries.

This paper serves as the basis for further research as the analysis of banking institutions that comprise both marketing and financial aspects, i.e. the application of the Interbrand methodology, was not conducted in Montenegro. Also, this paper overcomes the literal gap between theory and practice as there is little research thus far involving the application of the Interbrand methodology to the field of finance; especially in the field of banking. The authors point out the specifics of the banking sector as a key explanation for this. This is why it is necessary to make certain adjustments to the methodology. The research has positive implications for banks' internal and external stakeholders. The originality of this research is reflected in the fact that the Interbrand methodology has been optimized in order to assess the brand of banks, taking into account the specificity of the analyzed market. Brand is analyzed as a component of IC: another factor that exemplifies the value of this research.

This study, an exploratory one, aims to empirically investigate the association of national intellectual capital (NIC) with the national digital transformation readiness of the European Union's (EU’s) member states. Apart from building the conceptual model of NIC, this study explores the role of NIC dimensions in the digital divide between European countries.

Based on the literature review and the available EU statistical data and indexes, the theoretical framework and conceptual model for NIC were developed. The model explores the relation of NIC and its dimensions (human, social, structural, relational and renewable/development capital) on the readiness of European countries for digital transformation and the digital divide. Significant differences between EU countries in NIC and digital readiness were tested. Multiple linear regression was used to explore the association of each NIC dimension with digital transformation and digital divide within the EU.

Despite a positive association between all dimensions of NIC and digital transformation readiness, the proposed model of NIC was not confirmed in full. Regression analysis proved social capital and working skills, a dimension of human capital, to be the predictors of digital transformation at a national level, able to detect certain elements of digital divide between EU member states. Structural capital, knowledge and education, as dimensions of human capital, were predictors of the digital divide in terms of the integration of digital media in companies.

This research has a limited propensity for generalisation due to the lack of common measurement models in the field of NIC exploration.

This research offers policy makers an indication of the relationships between NIC and digital transformation, pointing out which dimensions of NIC should be strengthened to allow the EU to meet the challenges of digital economy and to overcome the digital divide between EU member states.

The use of digital technologies is key in creating active and informed citizens in the public sphere and productive companies and economic growth in the business sphere.

This study provides an original theoretical framework and conceptual model through which to analyse the relationship between NIC and digital transformation, which has thus far not been explored at the level of the EU. This research makes an original contribution to the empirical exploration of NIC and produces new insights in the fields of digital transformation and intellectual capital.

Knowledge-intensive entrepreneurial firms (KIE) strongly rely on scientific and strategic research and development (R&D) capabilities to achieve higher performance levels. Hence, the purpose of this paper is to disentangle the effects of scientific capabilities and strategic R&D on KIE performance; and how the constituent elements of these dimensions can be configured to generate conditions for high performance.

The authors’ empirical setting involves companies that submitted projects to the Innovative Research in Small Businesses (PIPE) program in Brazil. The authors then run partial least square structural equation modeling to verify how scientific and strategic R&D capabilities influence the performance construct. Second, the authors apply fuzzy-set qualitative comparative analysis to identify configurations that are equifinal in terms of generating superior performance.

Findings indicate a strong association between scientific capabilities and KIE performance. The configurational approach outlines the existence of multiple paths to success, but human capital stands as a core condition throughout estimations.

The authors’ assessment has implications for how KIE firms are managed according to their organizational profiles and trajectories. Also, it advances the authors’ comprehension on how entrepreneurship policies can better target these distinct profiles.

The authors’ analysis provides new evidence on the inherent complexity behind the generation of high performance in KIE when addressing their portfolios of knowledge-related capabilities. More than that, the authors were able to identify the existence of heterogeneous profiles that can equally lead to higher levels of performance.

The purpose of this paper is to analyse the relationship between the three components of intellectual capital (IC) (human, structural, and relational), and contextual factors relating to organisational climate (OC) and innovation culture, together with their influence on business performance (BP).

This empirical research is based on an online questionnaire, which collected data from a non-probability quota sample consisting of 253 Croatian SMEs. The scales for IC, OC, and innovation culture were constructed to test the relationship between these dimensions and assess the BP of the SMEs.

Based on a survey on 253 SMEs in Croatia, the analysis shows that the key dimensions of IC, innovation culture, and OC are vital to a company’s success and are strongly inter-correlated. Higher BP is positively related to higher levels of both IC and innovation culture.

The main limitation of the research is the subjective aspect of the study. The data used in the study were self-reported where respondents in a survey gave their assessment of firm performance. Although this was necessary because of the absence of other data, it is an issue that must be taken into account when interpreting the findings in the study.

Understanding the role of IC, OC, and innovation culture in relation to BP, particularly in former transition countries, can have important implications for managers and enterprise owners, as well as policy makers and the academic community.

The findings emphasise the important role of tacit knowledge in the innovation process, of which IC and OC are good examples.

This empirical study brings evidence from the understudied country of Croatia. Croatia is a post-transitional country and the last accessed member of the EU, on the dividing line between a modest and a moderate innovator. This is the first empirical study conducted in Croatia that explores the association between three concepts that are typically investigated separately (IC, OC, and innovation culture).

The purpose of this paper was to investigate antecedents and results of strategic choices of multinational corporation (MNC) subsidiaries in Croatia economy. Hence, the authors examined knowledge management and its association with performance. Additionally, they explored which of the strategies will be most likely chosen by subsidiaries in transitional economies that are characterized by market volatility and uncertainty.

Data were collected from a survey of 131 MNC subsidiaries operating in Croatia. To test the theoretical correlation between knowledge management capabilities and strategic orientation, the authors used the ANCOVA method and controlled for industry, years in international business and firm size.

The results pointed out the recognized necessities for a specific alignment between environment, strategy and knowledge management capabilities. The findings also suggest that there is a positive relationship between knowledge management and performance.

As with most of the research, this paper has limitations. First, all data were collected using self-report surveys raising the possibility of response set biases. Additionally, all data were collected at one point in one country specifically in Croatia.

Clearly, there is substantial interaction between the MNC subsidiary’s environment and the MNC subsidiary’s strategic orientation. Most notably, the environment studied here was at the competitive and consumer market level. Firms need to develop a strategic plan for knowledge management based upon the local environmental influences.

Other firms from Central and Eastern European and developed countries may compare their own environment, strategy and knowledge management practices in MNCs with findings from Croatia to be aware of similarities and market differences.

The strategic employment of knowledge acquisition, conversion and application are examined across firms using the Prospector, Analyzer, Defender and Reactor strategic orientations.

This paper seeks to identify the factors that influence the perceptions and attitudes of young people in Montenegro toward organic products.

The results of the research, obtained using the multivariate factor analysis, showed that the vast majority of young consumers identify organic food as healthy and natural and that its higher price is a significant barrier inhibiting their likelihood of purchasing it, along with inaccessibility and the limited options offered.

The data obtained provides valuable information for managers and decision-makers working in organic food production and sales in Montenegro – a country with the potential to develop in this field.

The study was carried out in the CEE transition country of Montenegro, with 300 young consumers. Further research is needed to validate the results through longitudinal study.

The data obtained represents a meaningful contribution to the field of organic food production and sale in Montenegro (which is a country with a lot of potential in this area) and will assist managers and decision-makers in the field.

Unlike most research that has previously examined issues concerning organic production – such as its standardization, financing, environmental impact, and even its promotion – this paper provides a better understanding of the behavior of young consumers toward organic products in Montenegro by outlining their perceptions and attitudes toward this product category.

This research represents the first academic study of customers' attitudes and perceptions in this area, alongside the main factors affecting the young consumer's choice to purchase organic food in Montenegro.