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In this article, we investigate the capital structure determinants of the Visegrad group, namely the Czech Republic, Slovakia, Hungary, and Poland for small- and medium-sized enterprises (S.M.E.s) from 2011 to 2018. We compare the capital structures of S.M.E.s across all mentioned countries and define how these may impact capital structure choices. The results show S.M.E.s in these countries determine their capital structure in similar ways and all the factors analysed in this study (except for growth opportunity) provide robust explanatory power for companies across all four countries. We find that profitability, liquidity, firm size, assets structure, and non-debt tax (depreciation of total assets) have a significant negative impact on capital structure for all four countries. Our study should be of interest to policymakers and companies who want to optimise their capital structure in order to improve company performance. [ABSTRACT FROM AUTHOR]

During Angela Merkel's term as Chancellor, Germany did not play a leading role in the realm of security and defense; moreover, estrangement with the German government's allies based on its attitude towards Putin's Russia slowly grew. Since Russia's war against Ukraine began, the situation has changed dramatically. This article will show the different reactions of the Visegrád 4 (V4) countries (Poland, Czech Republic, Slovakia, and Hungary) to the Zeitenwende [turning point] in Germany, focusing on Germany´s relationship with Russia, its energy security policy, defense, and support for Ukraine. The question is whether Germany is shaping the Zeitenwende into a 180° turnaround in policy or a 360° pirouette resulting in continuity of its former policies and further mutual loss of trust. Germany is unlikely to become a pre-eminent military leader but can make positive contributions if it implements the Zeitenwende and regains the trust of its eastern partners. [ABSTRACT FROM AUTHOR]

This article examines the role of Jewish Diaspora considerations in Prime Minister Benjamin Netanyahu's policy towards the states of Central and Eastern Europe. Israel has traditionally sought to attain both its state-centred national goals and those of the Jewish Diaspora. Under the Netanyahu governments (2009–21) a major change took place whereby the Diaspora's existence was viewed as dependent on Israel's continued survival and success; hence only a strong Israel can help the Diaspora. The security and wellbeing of the Jewish Diaspora thus remains a central Israeli goal, but it is to be pursued via Israel's strengthening on the one hand, and the deepening of Jewish identity and awareness among Diaspora Jews, on the other. [ABSTRACT FROM AUTHOR]