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Research background: In the context of Industry 4.0 and 5.0, competitiveness is intricately linked to innovativeness and ongoing technological advancements, posing a formidable challenge for countries and organizations aspiring to thrive in this environment. Within this framework, the significance of innovativeness is escalating, emerging as a crucial factor for the competitiveness of enterprises and economies alike. Purpose of the article: The article aims to present the structure and dynamics of research on the competitiveness of SMEs shaped on the basis of their innovativeness to further guide both research and management practice. Methods: This comprehensive bibliometric analysis delves into the Scopus database to uncover the leading authors, journals, and countries driving empirical research on SME competitiveness and innovation. The study utilizes the VosViewer software to graphically represent the overarching themes explored by researchers in this field. Additionally, an analysis of the selected articles identifies trends shaping the discourse on SME competitiveness and innovation. This multifaceted approach provides a holistic understanding of the current state of research in this domain, paving the way for future directions and insights. Findings & value added: In this study, the authors conduct a comprehensive analysis of the current research landscape on SME competitiveness and innovation in the digital transformation era. By identifying key challenges, opportunities, and strategies for SMEs, our findings offer valuable guidance for researchers, policymakers, and SMEs themselves in navigating the complexities of the digital transformation landscape. [ABSTRACT FROM AUTHOR]

Research background: In the era of the digital revolution, the Internet, automation and robotisation, new industrial relations and dynamic interactions among different stakeholders are giving rise to new opportunities and challenges. The changes associated with the enforcement of the "Industry 4.0" concept require adaptation to these developments at different levels of the economy and society in order to support digital transformation. Purpose of the article: The aim of this paper is to measure and assess the impact of digital transformation on European countries (EU). The comparative analysis of technological development in EU countries includes three dimensions: the digitalisation of society (Society 4.0), the ability of the economy to face the challenges of technological development (Economy 4.0), as well as the exploitation of ICT in companies (Companies 4.0). Methods: The empirical section of the article was built on a two-stage analytical approach: (a) cluster analysis methods to assess differences and similarities between EU countries (Hierarchical Cluster and K-Means Cluster) and (b) the multi-criteria decision-making method (TOPSIS) to rank countries according to the adopted evaluation criteria. For the purposes of this analysis, data from the Eurostat database have been applied. Findings & value added: The results of this analysis demonstrate the impact of technological transformation on the economy and society in EU countries grouped according to a similar level of development, such as countries with high, medium and low performance. This has contributed to indicating the cohesion in technological development achieved by each country group and to recognising the digitalisation gap between EU Member States. The novelty of this study consists in applying the multi-stage, multi-criteria analysis based on cluster analysis and the TOPSIS method, as well as the comparative analysis of the impact of technological developments on the societies and economies of EU countries. This paper extends similar studies by focusing on the application of a broad range of indicators regarding a holistic perspective including three dimensions: societies, economies and companies. The results provide valuable insights into evaluating the technological progress in European countries. [ABSTRACT FROM AUTHOR]

Research background: Digitalization in the context of the COVID-19 pandemic has accelerated significantly across Europe, including in regions that are at the stage of catch-up development. However, as innovative technologies are intensively integrated into everyday life, the digital gap between the EU countries is increasing. The widening digital gap is becoming a serious threat to achieving the EU's sustainable development goals and building a sustainable European society. Purpose of the article: The purpose of the article was to empirically substantiate the inclusiveness and convergence of the digital strategy in the EU countries. Methods: Using the method of fuzzy sets, the level of asymmetry in access to transactional (e-commerce), information (cloud computing), operational (artificial intelligence) technologies in the EU countries was assessed. The negative impact of the digital gap within the countries (the gap between small, medium, large companies) and the global digital gap (the gap between EU countries) on the competitiveness of countries was established, for which correlation analysis and the Granger causality test were used. Findings & value added: The findings of this study contribute to the literature of digital transformation and digital gap of European countries. The impact of the digital gap in transactional, information, operational technologies on the competitiveness of countries is differentiated depending on the level of digitalization of the country. Cluster groups of countries are determined by the convergence of digitalization and ways to ensure long-term competitiveness. The directions for reducing the digital gap in the EU countries are substantiated by changing the priorities of spending on innovation and increasing productivity, diversifying the digital technologies used. The empirical results obtained can serve as a basis for improving the effectiveness of the digitalization policy in the EU countries in accordance with individual convergence goals. The main added value of the paper is related to the presented research procedure, which can be used in analyses of digital technologies development also for other countries. The results provide valuable insights into evaluating the digital technologies in European countries. [ABSTRACT FROM AUTHOR]

Research background: The shift towards globalization, technological innovations, and digitalization has led to the emergence of various innovative financial products, such as peer-to-peer (P2P) lending. Characterised by digital solutions and easier access, P2P lending allows investors to make quick and more frequent investment decisions. However, this can increase investors' vulnerability to behavioural biases, and therefore leave them open to potential losses. There is a research gap in understanding P2P lending investors' rationality, including research methods tailored to the specifics of this innovative product. Purpose of the article: Objectives of our study is to propose a conceptual approach and multicriteria-based methodology to measure the degree and type of investor rationality; to apply it in Lithuanian P2P lending context, and to explore the differences in rationality based on the investors' sociodemographic characteristics. Methods: The data set represented answers to an online survey collected from 390 Lithuanian P2P lending investors. Three groups of criteria were employed to assess rationality degree and type: risk and return (reflecting utility maximization), use of available information, and behavioural biases criteria. The rationality index was developed to measure the rationality degree of individual P2P lending investors; descriptive and cluster analysis were performed to assess the rationality type; t-test, ANOVA test and regression analysis were used to investigate its influencing factors. Findings & value added: The results indicated a moderate overall degree of P2P lending investors' rationality, with bounded rationality representing 96,67% of the sample. Further clustering analysis proved that bounded rationality behaviour is not homogenous; therefore, measures taken to increase individual's rationality should be tailored to their specific rationality type primarily focusing on low-scoring rationality criterion. Regarding sociodemographic factors, investors' financial literacy was identified as the only significant and positive determinant of P2P lending investors' rationality, reinforcing the importance of financial literacy in society. [ABSTRACT FROM AUTHOR]