@article{MTMT:34796966,
	title = {Optimising Portfolio Risk by Involving Crypto Assets in a Volatile Macroeconomic Environment},
	url = {https://m2.mtmt.hu/api/publication/34796966},
	author = {Bányai, Attila and Tatay, Tibor and Thalmeiner, Gergő and Pataki, László},
	doi = {10.3390/risks12040068},
	journal-iso = {RISKS},
	journal = {RISKS},
	volume = {12},
	unique-id = {34796966},
	issn = {2227-9091},
	abstract = {Portfolio diversification is an accepted principle of risk management. When constructing an efficient portfolio, there are a number of asset classes to choose from. Financial innovation is expanding the range of instruments. In addition to traditional commodities and securities, other instruments have been added. These include cryptocurrencies. In our study, we seek to answer the question of what proportion of cryptocurrencies should be included alongside traditional instruments to optimise portfolio risk. We use VaR risk measures to optimise the process. Diversification opportunities are evaluated under normal return distributions, thick-tailed distributions, and asymmetric distributions. To answer our research questions, we have created a quantitative model in which we analysed the VaR of different portfolios, including crypto-diversified assets, using Monte Carlo simulations. The study database includes exchange rate data for two consecutive years. When selecting the periods under examination, it was important to compare favourable and less favourable periods from a macroeconomic point of view so that the study results can be interpreted as a stress test in addition to observing the diversification effect. The first period under examination is from 1 September 2020 to 31 August 2021, and the second from 1 September 2021 to 31 August 2022. Our research results ultimately confirm that including cryptoassets can reduce the risk of an investment portfolio. The two time periods examined in the simulation produced very different results. An analysis of the second period suggests that Bitcoin’s diversification ability has become significant in the unfolding market situation due to the Russian-Ukrainian war.},
	year = {2024},
	orcid-numbers = {Pataki, László/0000-0003-3093-6988}
}

@article{MTMT:34791782,
	title = {The event‐driven social responsibility in small and medium‐sized enterprises},
	url = {https://m2.mtmt.hu/api/publication/34791782},
	author = {Reisinger, Adrienn and Szabó, Zsolt Roland},
	doi = {10.1002/csr.2775},
	journal-iso = {CORP SOC RESPONS ENVIRON MANAGNAG.},
	journal = {CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT},
	volume = {.},
	unique-id = {34791782},
	issn = {1535-3958},
	abstract = {Since the survival and growth of small firms depend largely on their ability to acquire legitimacy within the institutional environment, social responsibility plays an important role in their lives. The aim of this study was to investigate how a disruption in the normal course of business can lead to an evolution and change in the social responsibility activities of small and medium‐sized enterprises. Such disruptions, called critical incidents, interrupt the normal functioning of the business. The case‐based exploratory study found that such critical events can have a positive impact. In particular, they can initiate the integration of socially responsible business practices. This is a journey from philanthropic donations to fully integrated socially responsible practices, often driven by internal triggering events such as organisational growth, unanticipated changes in management, or generational change, which allow new values to be brought on board. When such an internal event is followed by a highly critical but external event, such as the COVID‐19 pandemic, the transformation gains momentum. The findings also suggest that social responsibility can be a new source of competitive advantage.},
	year = {2024},
	eissn = {1535-3966},
	pages = {1-13},
	orcid-numbers = {Reisinger, Adrienn/0000-0001-9463-807X; Szabó, Zsolt Roland/0000-0002-7961-1298}
}

@CONFERENCE{MTMT:34788684,
	title = {Fenntarthatósági és etikai kérdések a kriptopénzügyekben},
	url = {https://m2.mtmt.hu/api/publication/34788684},
	author = {Farkas, Szilveszter and Kucséber, László Zoltán},
	booktitle = {DCF - digitalizáció, compliance és fenntarthatóság},
	unique-id = {34788684},
	abstract = {A 2008-2009-es pénzügyi-gazdasági válság hatására számos pénzügyi innováció jelet meg, ezek közül az egyik a digitális peer-to-peer fizetési rendszert leíró és megvalósító Satoshi Nakamota nevével jegyzett, internetre, megosztott adatbázisokra és titkosításra épülő első kriptopénz a bitcoin.
		A bitcoin létrehozása és Bitcoin rendszer fenntartása meglehetősen sok villamos energiát igényel, a bitcoin bányászat és a tranzakciók lebonyolítása jelentős karbon lábnyomot hoz létre. A működéshez szükséges eszközök előállítása a környezetet is nagymértékben igénybe veszi, az elhasznált eszközök újra hasznosítására tett erőfeszítések jelentékenyek, de nem elegendően hatékonyak. Az utóbbi időben egyre nagyobb figyelmet fordítanak a kriptopénzek környezeti, fenntarthatósági hatásainak tanulmányozására. A Binace Astralia az első digitális tőzsde, amely ESG jelentést adott közre 2022. augusztus 31-én. Tanulmányunk első részében arra keressük a választ, hogy a kriptopénzügyek mennyire veszik igénybe a környezetet, milyen mérték járulnak hozzá a klíma változáshoz? Az elemzés a rendelkezésre álló adatok elemzésével történik.
		Ha létezne bitcoin érme, akkor azon az szerepelne, hogy „In cryptography we trust”. A pénzügyek egyik legfontosabb intézménye a bizalom. A bizalom egy fontos etikai kategória is egyben, az ESG megfelelés egyik alapja. Paul Krugman szerint „Bitcoin is Evil.” Vajon igaz-e ez a megállapítás? Ha a csalásoktól és az illegális tranzakcióktól eltekintünk, akkor is marad az a kérdés, hogy az utilitarizmus alapelve szerint a kriptopénzek szolgálják-e a lehető legnagyobb boldogságot a legtöbb ember számára? Kérdéseinkre az etika, az üzleti etika szakirodalma alapján válaszolunk.
		Következtetéseink: A korai kriptopénzek mögött lévő technológia (PoW) karbon lábnyoma jelentős, és hozzájárul a klíma változáshoz. A zöld kriptopénzek és a hozzájuk kapcsolódó blokklánc technológiák (PoS) jelentősen csökkentik a fajlagos környezeti igénybevételt. A kriptopénzek önmagukban nem teremtenek értéket, az értékteremtéshez szükséges a mögöttük lévő gazdasági tevékenység etikussága.},
	keywords = {etika; bizalom; környezeti hatások; karbonlábnyom; kriptopénzek},
	year = {2024},
	pages = {35}
}

@article{MTMT:34784996,
	title = {Inclusive growth: Literature review},
	url = {https://m2.mtmt.hu/api/publication/34784996},
	author = {Saher, L. and Tabák, L. and Lyeonov, S. and Vasa, László},
	doi = {10.14254/2071-8330.2024/17-1/12},
	journal-iso = {J INT STUDIES},
	journal = {JOURNAL OF INTERNATIONAL STUDIES},
	volume = {17},
	unique-id = {34784996},
	issn = {2071-8330},
	year = {2024},
	eissn = {2306-3483},
	pages = {205-232}
}

@article{MTMT:34781951,
	title = {Determinants of global migration: The impact of ESG investments and foreign direct investment},
	url = {https://m2.mtmt.hu/api/publication/34781951},
	author = {Zatonatskiy, Dmytro and Leonov, Serhiy and Cieśliński, Wojciech and Vasa, László},
	doi = {10.14254/2071-789X.2024/17-1/14},
	journal-iso = {ECON SOCIOL},
	journal = {ECONOMICS AND SOCIOLOGY},
	volume = {17},
	unique-id = {34781951},
	issn = {2071-789X},
	abstract = {In response to global economic, social, and environmental problems, ESG investment principles have changed the approach to directing and structuring foreign direct investment. Additionally, they are becoming an essential factor in attracting migrants. This article aims to determine the impact of foreign direct investment on global migration trends and their peculiarities with the introduction of ESG investment principles. For this purpose, global foreign direct investment flows, global ESG investment flows, and global migration trends have been analyzed from 1995 to 2022. Pairwise correlation calculation was used as the primary analysis method through R-Studio software with integrated R programming language. The results indicated a 35% correlation between the volume of global ESG investment flows and the number of international migrants (as a percentage of the total population, which varies between 3.2% and 3.6%) for 2010-2022. Subsequently, regression analysis was conducted to explore the relationship between critical variables: investment flows and the level of migration in four European countries (France, Poland, the Czech Republic, and Germany). It was determined that investment inflows led to new jobs, accelerated economic growth, and improved business climate, thus encouraging reduced outflow and increased inflow of migrants. Investments based on ESG principles also reduce emigration as they enhance the quality of life in the host country, provide better environmental protection, and promote more transparent corporate management. However, it should be noted that investments have no apparent impact on migration caused by external factors such as wars or political conflicts, so such analysis should not include periods of global economic and political unrest.},
	year = {2024},
	eissn = {2306-3459},
	pages = {215-235}
}

@article{MTMT:34779514,
	title = {Black Sea Region’s Role in the Middle Corridor: The New Golden Age?},
	url = {https://m2.mtmt.hu/api/publication/34779514},
	author = {Vasa, László},
	journal = {WORKING PAPER SERIES IER},
	volume = {2024},
	unique-id = {34779514},
	year = {2024},
	eissn = {1841-4281},
	pages = {66-67}
}

@article{MTMT:34774807,
	title = {Effect of reputation and social media on the financial performance of SMEs – a comparison between selected business sectors},
	url = {https://m2.mtmt.hu/api/publication/34774807},
	author = {Blajer-Golebiewska, Anna and Vasa, László},
	doi = {10.62222/ADXS7200},
	journal-iso = {JOBS Journal},
	journal = {Journal of Business Sectors},
	volume = {2},
	unique-id = {34774807},
	abstract = {Research background: The growing popularity of social media increased its significance as a tool for enhancing corporate reputation. However, SMEs are less engaged in social media than large companies. For this reason, numerous SMEs miss the benefits they could derive from using the potential of social media and fail to optimize their reputation management strategies. Furthermore, substantial diversity among SMEs in their social media engagement practices is evident. Consequently, it is crucial to investigate this problem and identify SME owners' and managers’ perceptions of reputation and social media in specific business sectors. Purpose of the article: The aim of this study is to examine and quantify the effect of the importance of corporate reputations and social media on financial performance. Methods: The questionnaire was completed by 864 SMEs engaged in business activities within one of the following sectors: manufacturing, trade, services, and construction. Subjective perceptions of owners and managers of small and medium enterprises (SMEs) were analyzed. Data collection was conducted in the four Central European countries in the years 2022-2023. The statistical hypotheses were verified using correlation analysis and linear regression modelling. Analytical software IBM SPSS Statistics no. 28 was used in the statistical evaluation of the research data set. Findings & Value added: The corporate reputation of companies is a significant factor, which has a positive effect on the acceptable profit of a company in the business sector of manufacturing, trade, construction, and services. The strongest effect is present in the sector of construction. Social media is an important factor with a positive effect on the perception of a sufficient profit of a company by each business sector except construction. The strongest effect is present in the sector of manufacturing.  Corporate reputation was found to be insignificant for the perception of the ability to pay obligations (solvency) in the manufacturing sector. This effect is stronger in the construction sector in comparison to the trade and services sectors.},
	year = {2024},
	eissn = {2989-3445},
	pages = {21-31},
	orcid-numbers = {Blajer-Golebiewska, Anna/0000-0002-7203-9954}
}

@book{MTMT:34773740,
	title = {Az ezüst generáció technológia-elfogadásának meghatározó tényezői a digitális korban},
	url = {https://m2.mtmt.hu/api/publication/34773740},
	author = {Gyurián Nagy, Nikolett},
	publisher = {Szechenyi Istvan University},
	unique-id = {34773740},
	year = {2024},
	orcid-numbers = {Gyurián Nagy, Nikolett/0000-0001-9495-5382}
}

@article{MTMT:34772532,
	title = {Modelling employee retention in small and medium-sized enterprises and large enterprises in a dynamically changing business environment},
	url = {https://m2.mtmt.hu/api/publication/34772532},
	author = {Gelencsér, Martin and Kőműves, Zsolt Sándor and Hollósy-Vadász, Gábor János and Szabó-Szentgróti, Gábor},
	doi = {10.1108/IJOA-09-2023-3961},
	journal-iso = {INT J ORGAN ANAL},
	journal = {INTERNATIONAL JOURNAL OF ORGANIZATIONAL ANALYSIS},
	unique-id = {34772532},
	issn = {1934-8835},
	year = {2024},
	eissn = {1758-8561},
	orcid-numbers = {Hollósy-Vadász, Gábor János/0000-0001-5555-4922; Szabó-Szentgróti, Gábor/0000-0003-2129-9067}
}

@article{MTMT:34766102,
	title = {A magyar startup vállalkozások válságtűrő képessége – egy kvalitatív kutatás eredményei startup vállalkozók körében folytatott strukturált mélyinterjúk alapján},
	url = {https://m2.mtmt.hu/api/publication/34766102},
	author = {Kézai, Petra Kinga},
	doi = {10.32976/stratfuz.2024.2},
	journal-iso = {É-MO STRAT FÜZ},
	journal = {ÉSZAK-MAGYARORSZÁGI STRATÉGIAI FÜZETEK},
	volume = {21.},
	unique-id = {34766102},
	issn = {1786-1594},
	abstract = {A tanulmány a magyar startup vállalkozások válságtűrő képességét vizsgálja a koronavírus okozta járvány következtében bekövetkezett változásokra fókuszálva. A kutatás első felében szakirodalmi áttekintés alapján definiálja a startup fogalmat, majd összegzi a magyar, illetve a visegrádi országok vállalkozásvédelmi intézkedéseit, különös tekintettel a startupokra vonatkozóan. A kvalitatív elemzés eredményeit startup alapítókkal (n=22) készült félig strukturált mélyinterjú adta. A kutatás eredményeképpen megállapítást nyert, hogy a gazdasági válság nyertesei az IT-szektorban, az egészségügyben, az e-kereskedelem és a digitális oktatásban, ugyanakkor a nagy vesztesek a turizmusban és vendéglátásban tevékeny startupok. A válság pozitív hatásaként egyfajta megtisztulást zajlott a startupok körében, így az életképes vállalkozások túlélték a válságot a különböző vállalkozásvédelmi támogatásoknak köszönhetően.},
	keywords = {Startup; Magyarország; COVID-19; innovatív vállalkozások; gazdasági hatások},
	year = {2024},
	eissn = {2560-2926},
	pages = {14-26},
	orcid-numbers = {Kézai, Petra Kinga/0000-0001-5427-0127}
}