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Evaluation of risk/return relationship in public real estate market in the UK is vital for investors. In particular sector risk is being assessed, which is increasingly important due to expansion of index linked investments. The aim of this paper is to assess the risk inherent in public real estate securities.

To extract the specific/systematic risk from UK FTSE Real Estate Index (FTSERLT), the single index model (SIM) is employed over the period 1986‐2003. Four benchmark indices are used for this purpose in line with previous studies. The main part of the analyses is to find the index which best distinguishes between the systematic and specific factors affecting the real estate index. Monthly data are collected and grouped into one‐, three‐ and five‐year periods so that short‐ and long‐term trends are better observed and identified.

The findings show that the link between FTSERLT and all four indices has been declining over the observed period. In addition, it is noticed that the high and irregular specific risk levels in the sector over the last 15‐year period have created some form or “risk cycle”. In case of downturn on the market, it is identified that public real estate is more vulnerable than private market due to its high liquidity. This is identified as a major threat to its long‐term sustainability.

A unique breakdown of specific and systematic risk has been given based on three different duration periods and four benchmark indices. A particular attention has been given to the periods characterized with greater specific risk element. The paper has supported the existence of the “common real estate risk element” between public and private markets by establishing a strong correlation between public and private markets by establishing a strong correlation between the performance of direct real estate monthly market index (IPDMI) and abnormal performance (Alpha) of the public real estate sector.

The COVID-19 pandemic and subsequent efforts to contain it have started economic downturn that may even surpass the global financial crisis (GFC). The purpose of this study is to uncover the features of enterprises’ resilience during and after an external shock such as the GFC might be helpful in predicting the shock impact on enterprises and setting proper policy measures for the upcoming COVID-19 crisis.

The authors analysed the impact of the GFC on the entrepreneurial population in/of the Czech Republic using marginal effects method on a large random sample of 4,478 enterprises. In this analysis, the authors defined two groups of enterprises – “winners” and “losers” – based on the company’s dissolution and performance indicators.

The GFC struck the enterprise population asymmetrically in terms of the enterprises’ characteristics but also in terms of time. Micro and small size companies are the most vulnerable to external shocks such as the GFC. Technological level plays an important role in the recovery phase, especially in the case of manufacturing micro enterprises.

Although there are differences between the GFC and the COVID-19 crisis, the GFC was the only comparable shock in modern history in its global nature, depth and unpredicted occurrence. It can be expected that the impact on enterprises can be partly similar.

Government support of micro size companies should be the priority in the upcoming COVID-19 crisis. Supporting the innovation and technology progress might accelerate the recovery phase after the crisis especially in micro companies as well.

This paper presents interesting insights into the impact of external shocks such as the GFC or COVID-19 on enterprises. It uncovers typical features of “winners” or “losers” of such shocks.

The authors of this chapter focus on the development of comparative education in 10 countries of Eastern and Central Europe. A historical approach is applied to the study of the main characteristics of comparative education. The first part of the chapter is devoted to the origin of comparative education studies in this region from the fifteenth to seventeenth centuries till the end of the nineteenth century. The second part of the chapter examines the process of establishment of comparative education as a science and the appearance of the first lecture courses on comparative education in some countries of this region from the beginning of the twentieth century till the end of World War II. The third part presents the state of comparative education during the years of socialism – from the end of World War II to the fall of the Berlin Wall. The fourth part surveys the modern development of comparative education in Eastern and Central Europe from the beginning of democratic changes in 1989 to the present day. While presenting comparative education in each historical period, the authors first show the most prominent comparativists, then emphasize on comparative education as a university discipline, and finally synthesize the main characteristics of the development of comparative education during the period of view. The chapter concludes with some generalizations on the four periods.

The main purpose of this research is to examine the basic motives in making a decision to buy an organic food. The preferences in the type of food – conventional, organic and GMO between people from different countries in former Yugoslavia region, as well as the main motives for buying an organic food, are also determined. Differences in the main motives for buying organic food depending on the gender and age of the respondents are also examined.

The sample consisted of 571 respondents from 6 countries of former Yugoslavia, which makes this paper unique and original. Questionnaire, which was specially constructed for the needs of the main purpose of this research, is to examine the basic motives in making a decision to buy an organic food. The preferences in the type of food – conventional, organic and GMO between people from different countries in former Yugoslavia region, as well as the main motives for buying an organic food, are also determinated. Differences in the main motives for buying organic food depending on the gender and age of the respondents are also examined. The sample consisted of 571 respondents from 6 countries of former Yugoslavia, which makes this paper unique and original. Questionnaire, which was specially constructed for the needs of the research, was applied (Cronbach α = 0.77). The research was conducted online, via the Google Forms questionnaire. Data were processed by the SPSS program. Mann–Whitney U test and Kruskal–Wallis test were used to determine the significance of the obtained differences in scores between groups of subjects. The results show that the conventional food is still the most common type of nutrition in people from these areas. The main reason for buying organic food is health, while there are no differences in scores between respondents of different gender, age and country they live in. Mandatory of this paper refers to show relevant information of main motives in purchasing organic food from people, which itself has broader social (raising awareness of the importance and significance an organic nutrition), as well as practical implications, which may be important for organic food producers and traders. The results of the research have a satisfactory level of reliability (Cronbach α = 0.77). The research was conducted online, via the Google Forms questionnaire. Data were processed by the SPSS program. Mann–Whitney U test and Kruskal–Wallis test were used to determine the significance of the obtained differences in scores between groups of subjects.

The results show that the conventional food is still the most common type of nutrition in people from these areas. The main reason for buying organic food is health, while there are no differences in scores between respondents of different gender, age and country they live in.

An unequal number of male and female respondents, as well as respondents from different countries.

Mandatory of this paper refers to show relevant information of main motives in purchasing organic food from people, which may be important for organic food producers and traders.

Social implications refers to raise an awareness of the importance and significance an organic nutrition for people health.

The sample consisted of 571 respondents from 6 countries of former Yugoslavia, which makes this paper unique and original.

The chapter identifies and analyzes scholarly discourses that framed understanding of change and directed further reforms in post-socialist education over the past two decades. It discusses the origins of these discourses, their theoretical underpinnings, evolution, and cultural biases. The analysis of scholarly texts published on post-socialist education draws on methods of discourse analysis and utilizes the concept of sensemaking and the lens of translation to deconstruct how educational change is framed. Most of the identified discourses – restoration, importation, revolution and evolution, transformation and innovation, crisis and survival, glocalization, educational borrowing, system convergence, education for social transformation – originated outside either education or the post-socialist region itself in transitology studies, dependency theory, world system theory, and social reproduction theory. The resultant discourses carried over or challenged the underlying theoretical assumptions, exposed cultural sensitivity, or otherized the post-socialist region. The chapter identifies emerging scholarship that deconstructs framing of the same post-socialist educational phenomena. These emerging approaches reflect local and national searches for identity rather than global agendas. Contrary to the earlier prediction that with the end of the cold war, economic, political, and social institutions would converge into one monolithic world order, the chapter argues that the contemporary world today has come to display diversity, particularism, multiple voices, and the beginning of new histories. This study identifies emerging lines of research that look into the construction of meanings and expose cultural biases, while offering original conceptualization of two decades of scholarship on post-socialist educational change.

The term ‘obsolescence’ occurs frequently in the literature of librarianship and information science. In numerous papers we are told how most published literature becomes obsolete within a measurable time, and that an item receives half the uses it will ever receive (‘half‐life’) in a few years. ‘Obsolescence’ is however very rarely defined, and its validity, interest, and practical value are often assumed rather than explained. Before reviewing studies on ‘obsolescence’, therefore, it is necessary to look at the concept and to identify the reasons why it should be of interest.

The aim of this paper is to propose extended intellectual capital (IC) indicators. The study shows that the essence of IC in the context of value is residual income, its growth rate and growth rate of equity taken together. It allows creating IC measures (modified residual income and economic value added of equity) that contain these components. The study investigates the relationship between IC and market value for Russian public firms.

The authors propose modified residual income and modified economic value added of equity as IC metrics. This study tests a relationship between market value and IC to investigate suggested metrics. Static and dynamic panel data models are used. 25 companies from the MOEX Russia Index were included in the study. The study covers the period from 2014 to 2018.

The findings show a strong positive relationship between market value and IC. The results confirm that extended IC measures have a stronger connection to market value.

Firstly, these results benefit managers. They can use proposed extended IC measures as targets for the company when planning business strategy and generating business environment. Secondly, suggested IC measures can help shareholders and investors achieve their long-term goal – wealth maximization.

The value of this article is the development of IC theory and valuation. The proposed measures differ in the way that they consider the growth rates – the main determinants of value along with efficiency.