Joanna Rosak-Szyrocka is Assistant Professor at the Częstochowa University of Technology, Faculty of Management, Department of Production and Safety Engineering, Poland. Justyna Żywiołek is Assistant Professor at the Częstochowa University of Technology, Faculty of Management, Department of Production and Safety Engineering, Poland. Muhammad Shahbaz is Professor of Economics at the Beijing Institute of Technology, China, and Visiting Research Fellow at the University of Cambridge, UK.