Sustainable development of manufacturing enterprises in the socio-economic context. The case of Poland and Germany

Abstract

Purpose – The article aims to assess the impact of contemporary external socio-economic deter-minants, including globalization, eco-innovation, social development, and macroeconomic stabilization, on the sustainable development of manufacturing enterprises in Poland and Germany from 2008 to 2020. Research method – This paper is empirical. The survey covers the manufacturing enterprises in Poland and Germany. The first part discusses the conceptual background related to the sustainable deve-lopment of enterprises in a socio-economic context. The empirical part includes the methodology and results of the study. To determine the relationship between socio-economic factors and sustainable development, the author uses the Least Square Method (OLS) and Seemingly Unrelated Regression (SUR). Results – The research results show a statistically significant relationship between the variables. Socio-economic indicators are vital determinants of the sustainable development of manufacturing enter-prises. The models show that the impact of individual exogenous determinants is different in Poland and Germany. Originality/value/implications/recommendations – The statistical assessment of the socio-economic impact on enterprises’ sustainable development is relatively poorly understood. The issue is new, contem-porary and requires further analysis. The exogenous socio-economic factors are important for enter-prises sustainable development. It is important to launch macroeconomic efforts to implement sustain-able development goals. The results show a different impact of socio-economic indicators on the sustainable development of manufacturing enterprises, which may indicate that the enterprise develop-ment depends on many factors that are different in analysed countries.