item: #1 of 301 id: ea-1022 author: Marjanović, Darko; Ahmetagić, Deniz; Beraha, Isidora title: Comparative Analysis of High Technology Exports and Selected Innovation Indicators for Serbia and CEE Countries date: 2019-12-09 words: 4694 flesch: 40 summary: A country’s innovation growth depends to a large extent on how innovation activity is realized and on effectiveness of national innovation system (NIS.). In these networks, for example, the newly created knowledge is supplemented between two potential partners (firms) (Caminati, 2016; Chiou et al., 2016) and their knowledge bases serve as an incentive factor for cooperation intensity in realizing innovation activities and radical R&D projects. keywords: analysis; bulgaria; countries; gdp; htp; hungary; innovation; knowledge; products; r&d; serbia cache: ea-1022.pdf plain text: ea-1022.txt item: #2 of 301 id: ea-1112 author: Iorngurum, Tersoo title: Gauging the Effects of Modern Payment Technologies Adoption on the Demand for Money in Nigeria date: 2019-12-09 words: 8083 flesch: 58 summary: ��� = F + ∑ F�� D�H�I�J − ∑ F�� ��H�I�J − ∑ F�� ��H�I�J − ∑ F�� $�H�I�J + ∑ F�� �E��H�I�J + ∑ FL� ��H��I�J� + ��� (15) D� = M + ∑ M�� D�H�I�J� − ∑ M�� ��H�I�J − ∑ M�� ��H�I�J − ∑ M�� $�H�I�J + ∑ M�� �E��H�I�J + ∑ ML� ��H��I�J + ��� (16) �� = N + ∑ N�� D�H�I�J − ∑ N�� ��H�I�J� − ∑ N�� ��H�I�J − ∑ N�� $�H�I�J + ∑ N�� �E��H�I�J + ∑ NL� ��H��I�J + ��� (17) �� = O + ∑ O�� D�H�I�J − ∑ O�� ��H�I�J − ∑ O�� ��H�I�J� − ∑ O�� $�H�I�J + ∑ O�� �E��H�I�J + ∑ OL� ��H��I�J + ��� (18) $� = P + ∑ P�� D�H�I�J − ∑ P�� ��H�I�J − ∑ P�� ��H�I�J − ∑ P�� $�H�I�J� + ∑ P�� �E��H�I�J + ∑ PL� ��H��I�J + ��� (19) 18 Economic Analysis (2019, Vol. 52, No. 2, 12-27) �E�� = Q + ∑ Q�� D�H�I�J − ∑ Q�� ��H�I�J − ∑ Q�� ��H�I�J − ∑ Q�� $�H�I�J + ∑ Q�� �E��H�I�J� + ∑ QL� ��H��I�J + �L� (20) Estimation procedures Unit root testing with break points This is captured in the following money demand function: �� = ��� = �� �, … … , #, $, %, &, '( )'(� (1) Here, md denotes demand for money balances in real terms, Md denotes demand for money balances in nominal terms, P denotes price level, ri denotes returns in real terms of the ith asset, π denotes rate of inflation, w denotes wealth in real terms, u denotes individuals’ tastes and preferences, and HW/NHW denotes the ratio of human to non-human wealth. keywords: cointegration; d �; demand; e �; money; money demand; test; � j cache: ea-1112.pdf plain text: ea-1112.txt item: #3 of 301 id: ea-1123 author: Lazarević-Moravčević, Marija title: Characteristics of Marketing Communication Strategy of a Small Enterprise date: 2019-12-09 words: 4728 flesch: 38 summary: Taking into consideration the mentioned limitations of small business, but also the role of promotional activities in modern business conditions, the paper emphasizes the fact that intensive use of modern information technology, as well as the solutions it offers in the domain of communications, can significantly improve the visibility of small businesses in the market. Small business promotional activities should also target the existing customers. keywords: activities; advertising; business; communication; information; internet; market communication; marketing; promotion; research; serbia cache: ea-1123.pdf plain text: ea-1123.txt item: #4 of 301 id: ea-1141 author: Alihodžić, Almir; Muratović-Dedić, Ajla title: The Determinants of Capital Structure and Optimization: Evidence from the Power Sector date: 2020-06-22 words: 4955 flesch: 50 summary: Rajan and Zingles (1995) find that large firms are less susceptible to asymmetric information, more capable of acquiring equity and reducing debt capital, suggesting a negative association between leverage and size. Also, smaller companies tend to be less diversified in terms of debt capital, compared to larger companies, which increases the chances of financial failure. keywords: assets; business; capital; companies; debt; period; power; sector; srpska; structure; variables cache: ea-1141.pdf plain text: ea-1141.txt item: #5 of 301 id: ea-1189 author: Munitlak Ivanović, Olja; Đeri, Lukrecija; Stamenković, Predrag; Ilić, Aleksandra title: The Necessity of Using Social Networks in Contemporary Tourism Industry and the Tourist Organization of Serbia date: 2020-06-22 words: 4958 flesch: 45 summary: An ordinary day cannot be imagined without browsing through email, Instagram, Facebook and other social networks. Interestingly, even though this is a TOS account that has the lowest number of followers compared to other social networks, and the only one has a verified profile tag. keywords: analysis; facebook; followers; information; marketing; networks; organization; serbia; tos; tourism; tourist organization; use cache: ea-1189.pdf plain text: ea-1189.txt item: #6 of 301 id: ea-119 author: Handalić, Merdža title: Opportunities for the Development of Partnerships through Cross-Border Cooperation date: 2017-09-28 words: 5406 flesch: 29 summary: Microsoft Word - 2009_1_2.doc Opportunities for the Development of Partnerships through Cross-Border Cooperation Merdža Handalić, Governance Acountability Project (GAP) BiH, GAP Office Tuzla, Tuzla KEY WORDS: cross-border cooperation, regionalization, partnership JEL: F15, 052 ABSTRACT – Successful implementation of cross-border cooperation not only depends on the capacity of state institutions to successfully lead and coordinate activities in the course of realization of the program but also the ability of potential users to make as many good project proposals, cross- border related, which could be financed from funds cross-border cooperation. The objectives of cross-border cooperation are: • Promoting cross-border initiatives in the field of social development, economy and environmental protection in cross-border areas; • keywords: border; cooperation; countries; cross; development; european; program; project; regional cache: ea-119.pdf plain text: ea-119.txt item: #7 of 301 id: ea-120 author: Hanić, Hasan; Čivić, Beriz title: Specificities of Online Concept in Comparision with a Classic Concept of Marketing Research date: 2017-09-28 words: 4409 flesch: 34 summary: The online concept of marketing researches means application of a scientifically approved methodology in realization of marketing research using solutions of the contemporary information and communications technology based on the Internet in all phases of realization of the research process. Microsoft Word - 2009_1_2.doc Specificities of Online Concept in Comparision with a Classic Concept of Marketing Research Hasan Hanić, Belgrade Banking Academy, Serbia Beriz Čivić, Faculty of Economics of the University of Tuzla, B&H KEY WORDS: marketing, researching, decision making, information technology, online research JEL: L22,M3,L86 ABSTARCT – Generation of quality marketing decisions necessarily anticipates existence of a developed system of marketing research. keywords: classic; concept; data; information; marketing research; online; process cache: ea-120.pdf plain text: ea-120.txt item: #8 of 301 id: ea-1209 author: Borović, Zoran; Gligorić, Dragan; Trivić, Jelena title: Total Factor Productivity and Economic Freedom in Former Socialistic Countries date: 2020-12-11 words: 6019 flesch: 59 summary: The positive effect on TFP growth rate can be achieved through the openness in international trade (Alcalá and Ciccone 2004; Coe and Helpman 1995; Greenaway and Kneller 2007; Even though there is a consensus regarding positive impact of economic freedom on the economic growth, many researchers have find that sub- components of both economic freedom indexes can have positive or negative impact on economic growth. keywords: authors; capital; countries; data; economic; factor; fdi; freedom; growth; impact; institutions; level; productivity; rate; tfp cache: ea-1209.pdf plain text: ea-1209.txt item: #9 of 301 id: ea-121 author: Omolaja, M. A. title: Administrative Practice in Nigeria: Implications for National Development date: 2017-09-28 words: 6179 flesch: 44 summary: In essence, philosophy of administration implies the search for the body of knowledge including the origin, evolution and practice of administration as well as the study of administrative culture. This would definitely allow the reader to understand the nature and significance of administrative culture in the Nigerian society. keywords: administration; country; culture; development; man; management; national; nigeria; office; practice; society; way cache: ea-121.pdf plain text: ea-121.txt item: #10 of 301 id: ea-1211 author: Virijević Jovanović, Saša; Janovac, Tatjana; Nešović, Dragana title: The Implementation of Two – Dimensional Model of Corporate Social Responsibility in Serbian Companies date: 2020-06-22 words: 6153 flesch: 49 summary: Key words: corporate social responsibility, two – dimensional CSR model, business and society JEL Classification: A14 INTRODUCTION Corporate social responsibility (CSR) in the contemporary economic and social environment has become a critical business function in organization and an “inescapable priority” (Porter and Kramer, 2006). Therefore, the scientific public is increasingly considering the possibility of measuring the level of corporate social responsibility, as well as its effects on the social environment and business. keywords: analysis; business; companies; cost; csr; figure; involvement; model; programs; quazi; respondents; responsibility; society cache: ea-1211.pdf plain text: ea-1211.txt item: #11 of 301 id: ea-1212 author: Monteiro, Mariana; Simões, Marta C. N. title: Ageing and Productivity date: 2019-12-09 words: 8733 flesch: 55 summary: The shift corresponding to a one-standard-deviation temporary shock in the Δlogw55 would amount to about -0.0078 percentage points of the GDP per worker growth rate. Next we determine the cumulative impacts of workforce ageing on output per worker growth. keywords: ageing; capital; growth; growth rate; model; output; productivity; proportion; ratio; var; workers; workforce cache: ea-1212.pdf plain text: ea-1212.txt item: #12 of 301 id: ea-1213 author: Stevanović, Slavica; Jovanović, Olivera; Hanić, Aida title: Environmental and Financial Performance: Review of Selected Studies date: 2019-12-09 words: 8742 flesch: 42 summary: The results in emissions financial performance studies are obtained mostly using regression models. The data are often obtained by organizations and companies that run data disclosure system for stakeholders (Trumpp and Guenther, 2017; Wang et al., 2014; Misani and Pogutz, 2015) and provides environmental performance data for the socially responsible investment community (Delmas et al., 2015). keywords: analysis; authors; companies; company; data; disclosure; emissions; et al; performance; relationship; research; results; roa; studies; waste cache: ea-1213.pdf plain text: ea-1213.txt item: #13 of 301 id: ea-1215 author: Manzoli, Vittoria; Duarte, António Portugal; Simões, Marta title: Housing, Inequality and Economic Growth: Evidence from a Sample of Brazilian States date: 2020-06-22 words: 7855 flesch: 53 summary: In the next section we carry out a brief review of the literature on the relationship between income inequality and economic growth. The housing deficit can be seen as an indicator of wealth inequality, which previous literature as argued can be more important for the explanation of economic growth than income inequality since, quoting Islam & McGillivray (2019), pp.1-2 “(…) a negative growth effect of wealth inequality may be more noticeable than that of income inequality as wealth accumulates over time by generating its own income in terms of interests, dividends, rents, and capital gain and passing on between generations.” keywords: brazil; brazilian; capita; data; deficit; economic; effects; growth; housing; housing deficit; income; inequality; results; states cache: ea-1215.pdf plain text: ea-1215.txt item: #14 of 301 id: ea-1216 author: Pejović, Bojan; Karadžić, Vesna title: Econometric Modeling and Forecasting of Interest Rates in Montenegro date: 2020-06-22 words: 5381 flesch: 54 summary: Interest rate forecasting in India was addressed by a group of researchers who came to the conclusion that different models (ARIMA-GARCH, LVAR, BVAR, VECM) should be used depending on the type of interest rate and the forecast horizon (Dua, P. 2008). Dua (2008) has shown that different models (ARIMA-GARCH, LVAR, BVAR, VECM) should be used to predict interest rates in India depending on the type of interest rate and the forecast horizon. keywords: arima; forecasting; interest; interest rate; model; montenegro; rate; results; series; time; var cache: ea-1216.pdf plain text: ea-1216.txt item: #15 of 301 id: ea-1218 author: Jovanović, Ivana title: Modelling Wealth Effect in Consumption Function Based on System of National Acounts (SNA) Data date: 2020-06-22 words: 5888 flesch: 52 summary: Microsoft Word - 2020_ea1_final.docx DOI: 10.28934/ea.20.53.1.pp118-132 ORIGINAL SCIENTIFIC PAPER Modeling Wealth Effect in Consumption Function Based on System of National Accounts (SNA) Data Ivana Jovanović1* 1 Statistical Office of the Republic of Serbia, Belgrade, Serbia ABSTRACT The study explores the influence of housing wealth, as well as other wealth variables, on consumption in the frame of life cycle-permanent income theory. In addition, the paper explains why housing wealth is not part of consumption function in former socialist countries with certain macroeconomic structure, and that is low part of unpaid mortgage debt in the financing structure of housing wealth. keywords: analysis; consumption; countries; data; ecm; households; housing; income; model; mortgage; netherlands; serbia; variables; wealth cache: ea-1218.pdf plain text: ea-1218.txt item: #16 of 301 id: ea-1219 author: Gligorić, Dragan; Petković, Saša; Pepić, Anđela; Ateljević, Jovo; Vukojević, Borislav title: Estimation of Price Elasticity of Demand for Cigarettes in Bosnia and Herzegovina – Macro Data Analysis date: 2020-06-22 words: 6112 flesch: 59 summary: It means that the increase in real cigarette prices for 10% led to a decrease in cigarette consumption in the range from 7.1% to 8.3%. The state excise policy is one of the main available tools for reducing smoking prevalence because cigarette prices are under the direct impact of this policy. keywords: bih; cigarettes; consumption; data; excise; income; price; tobacco; variables cache: ea-1219.pdf plain text: ea-1219.txt item: #17 of 301 id: ea-122 author: Rovčanin, Adnan; Kožarić, Amra title: World Economy Crisis and the Possible Impacts It Might Have on Bosnia and Herzegovina date: 2017-09-28 words: 7750 flesch: 61 summary: The overwhelming and accelerated liberalization of international movement of capital, frequent speculative blows on the international monetary system and national financial systems, the birth and development of financial abnormalities and global financial crisis, inadequate determined regimes of foreign currencies are just some of the global prevalent financial problems that came with the last decade. From day to day, somehow we had a few ideas that couldnʹt get off our mind, and all information which we got and read form our thinking, lead us to conclude that destiny of the global economic is world economic crises. keywords: countries; crises; economic; economy; great; growth; market; new; situation; usa; world; world economy cache: ea-122.pdf plain text: ea-122.txt item: #18 of 301 id: ea-1228 author: Nedić, Vladimir; Turanjanin, Dragan; Cvetanović, Slobodan title: Empirical Investigation of the Impact of Tertiary Education on the Economic Growth of the European Union Countries date: 2020-06-22 words: 7092 flesch: 58 summary: Sylwester (2000) comes to the conclusion that investment in education is positively correlated with future economic growth, and negatively correlated with current economic growth, suggesting that the effects of investment in education on economic growth can be realized over time. Survey results have shown that the link between education levels and economic growth is non-linear, that is, growth in investment in education is not always accompanied by accelerated economic growth. keywords: capital; countries; economic; education; effect; growth; model; rate; regression; variable;   cache: ea-1228.pdf plain text: ea-1228.txt item: #19 of 301 id: ea-124 author: Bir Bista, Raghu title: MODERN MANAGEMENT - Concepts and Topical Issues date: 2017-09-28 words: 674 flesch: 36 summary: This is systematically presented into Economic Analysis 1-2 (2009) 79-80 8 the fourteen chapters arranged by Chapter I - Nature of Management, Chapter II - Management Function, Chapter III - Organization in Modern Management, Chapter IV - Specialized Management Technique, Chapter V - Control in Modern Management, Chapter VI - Corporate Policy, Chapter VII - Corporate Strategy, Chapter VIII - Operational Environment, Chapter IX - Corporate Objectives, Chapter X - Managing Employee at Work, Chapter XI - Organizational Behavior, Chapter XII - Employee’s Motivation, Chapter XIII - Basic Tool of Management and Chapter XIV - Communication Theory. As a basic hand book of management guru mantra (key formulas), it insights minutely each and every core subject and issue of management and its relevancy in the simple layman’s language for uniform attraction and attention towards the book and also for making highly utility product to all (Manager, Administrator, Students, etc). keywords: book; chapter; management cache: ea-124.pdf plain text: ea-124.txt item: #20 of 301 id: ea-125 author: Radović-Marković, Mirjana title: Note from the Editor-in-Chief date: 2017-09-28 words: 552 flesch: 37 summary: Microsoft Word - 2009_3_4.doc Note from the Editor-in-Chief The current volume of Economic Analysis contains seven articles covering a wide range of topics from monetary strategy to entrepreneurship, knowledge firms and rural development. Along with domestic enterprise restructuring, the basis of the entrepreneurship development in the following period, as a good therapy for the consequences of global economic crisis, will be formed by new entrepreneurship ventures mainly expresses via small and moderate enterprises. keywords: development; entrepreneurship cache: ea-125.pdf plain text: ea-125.txt item: #21 of 301 id: ea-1255 author: Mirović, Vera; Kalaš, Branimir; Milenković, Nada title: Panel Cointegration Analysis of Total Environmental Taxes and Economic Growth in EU Countries date: 2021-06-02 words: 6324 flesch: 55 summary: 94 Economic Analysis (2021, Vol. 54, No. 1, 92-103) Similarly, Busu and Trica (2019) revealed significant and positive effect of environmental taxes on economic growth in EU countries for the observed period 2010-2017. For most environmental problems, adequately determined fiscal policy is the most natural tools for including environmental detriment into the products price and non-market actions (Heine et al. 2012). keywords: analysis; cointegration; countries; energy; european; gdp; growth; panel; policy; taxes; total cache: ea-1255.pdf plain text: ea-1255.txt item: #22 of 301 id: ea-126 author: Kallinterakis, Vasileios; Lodetti, Maria title: Nonlinearities, Herd Behaviour and Market Illiquidity: Evidence from Montenegro? date: 2017-09-28 words: 5172 flesch: 46 summary: Our study aims at covering this gap by examining the impact of thin trading over herding at the nonlinear dimension utilizing the empirical design proposed by Chang et al. (2000). First of all, the absence of herding in the New Securities Stock Exchange appears robust to correcting for thin trading on the premises of the Chang et al. keywords: et al; herding; market; returns; stock; trading; vol cache: ea-126.pdf plain text: ea-126.txt item: #23 of 301 id: ea-1261 author: Peković, Jelena; Zdravković, Stefan; Pavlović, Goran title: The role of Balanced Scorecard models in the assessment of Board of Directors performance date: 2020-12-11 words: 6576 flesch: 40 summary: The specific knowledge, skills, abilities and experiences of board members represent human capital. Board members represent an important internal control mechanism. keywords: balanced; board members; capital; company; directors; financial; human; model; performance; scorecard cache: ea-1261.pdf plain text: ea-1261.txt item: #24 of 301 id: ea-1264 author: Beraha, Isidora; Đuričin, Sonja title: The Impact of COVID-19 Crisis on Medium-sized Enterprises in Serbia date: 2020-06-22 words: 6999 flesch: 53 summary: The survey was conducted in the United Kingdom to identify the groups of workers who are most exposed to aggregate risk of salary reduction, and the results show that young workers employed in small enterprises are most at risk of 8-9% salary reduction (Bell et al., 2020). The research conducted on a sample of medium-sized enterprises in Serbia indicates that this segment of the SME sector has shown Brier resilience to the negative impacts of the COVID-19 crisis comparing to entrepreneurs, micro and small enterprises. keywords: business; countries; covid-19; crisis; economic; enterprises; impact; measures; policy; republic; research; serbia; smes;   cache: ea-1264.pdf plain text: ea-1264.txt item: #25 of 301 id: ea-1265 author: Pavlović, Dejana; Bodroža, Duško; Vukmirović, Valentina title: The Economic Impact of the COVID-19 on the Serbia’s Labor Market: Statistics and Facts date: 2020-06-22 words: 6533 flesch: 44 summary: Based on the total of those active in the labor force, as according to the total of those registered employed and unemployed, the region of Šumadija and Western Serbia had the highest concentration of employment whereas the lowest was in the regions of Southern and Eastern Serbia (table 3) (Statistical Office of the Republic of Serbia, 2019). Slightly less than half of all those 15 to 24 years of age (approximately 413,765) lived in Northern Serbia, while about 183,848 lived in Southern Serbia (Census, Statistical Office of the Republic of Serbia, 2011). keywords: activities; covid-19; crisis; economic; economy; employees; employment; gdp; impact; labor; market; rates; republic; serbia cache: ea-1265.pdf plain text: ea-1265.txt item: #26 of 301 id: ea-127 author: Neupauerová, Marianna; Čisárik, Peter title: Can Exchange Rate Targeting Stabilise Inflation Pressures in Transition Countries? - Case of the Slovak and the Czech Republic date: 2017-09-28 words: 4002 flesch: 49 summary: Inflation rate (consumer prices) – Europe, in January 2008 Source: Index Mundi Neupauerová, M. et al., Exchange Rate, EA (2009, Vol. 42, No, 3-4, 18-28) 23 Up to now, inflation rate in Slovakia and in the Czech Republic was comparatively low. KEY WORDS: exchange-rate targeting, inflation targeting, inflation rate, Slovakia, the Czech Republic Targeting in a monetary strategy Central banks have several monetary strategies at their disposal. keywords: bank; czech; exchange; inflation; rate; republic; targeting cache: ea-127.pdf plain text: ea-127.txt item: #27 of 301 id: ea-1270 author: Ivanović, Đina; Antonijević, Marija title: The Role of Online Shopping in the Republic of Serbia During COVID-19 date: 2020-06-22 words: 5066 flesch: 60 summary: The main aim is to see whether this virus and implemented measures of reducing the spread of contagion brought by the Government of the Republic of Serbia, resulted with changes in consumer behaviour. 27.82 Lower costs 20.86 Source: Authors' calculation The measures of the Government of the Republic of Serbia had effects on consumer behaviour, keywords: appearance; consumer; covid-19; online; purchasing; republic; respondents; serbia; shopping; table cache: ea-1270.pdf plain text: ea-1270.txt item: #28 of 301 id: ea-1272 author: Manić, Aleksandar; Grubišić, Zoran title: Creating Monetary Measurement Unit (MMU) as the Global Universal Measure for Hedging against Inflation and Currency Risk date: 2020-06-22 words: 3562 flesch: 44 summary: The second manner of inclusion of the selected countries’ participation in the final MMU value is through a premium that will ensure slight and steady increase over time, to reflect the corresponding property of the growth of real global economy. CONCLUSION The Monetary Measurement Unit, an indicator that reflects the stable growth of the real global GDP and is based on monetary variables relying on current market data, whose creation and development have been presented in this paper along with the results, represents a sound candidate for a global measurement unit that could be used for hedging against price level volatility and currency risk, which is an intrinsic characteristic of the global financial markets. keywords: average; basket; countries; currency; data; indicator; mmu cache: ea-1272.pdf plain text: ea-1272.txt item: #29 of 301 id: ea-1279 author: Stanković, Jelena; Tomić, Zoran; Stanković, Jovica title: Socio-economic Impact of Natural Disasters in the Republic of Serbia date: 2020-12-11 words: 10293 flesch: 47 summary: Natural disasters influence the behavior of economic agents in a different manner, so that individuals tend to be more conservative and increase savings after natural disasters or simply become self-indulgent and spend more at the expense of savings. Considering that characteristics of natural disasters vary in space and time, the aim of this paper is to perform a spatial and temporal analysis of their impact on the society and economic activities in the Republic of Serbia. keywords: analysis; damage; data; development; disasters; effects; growth; impact; number; people; period; region; republic; risk; scale; scale disasters; serbia; šumadija cache: ea-1279.pdf plain text: ea-1279.txt item: #30 of 301 id: ea-1282 author: Team, Editorial title: CORRIGENDUM: Tersoo Iorngurum, Gauging the Effects of Modern Payment Technologies Adoption on the Demand for Money in Nigeria. Economic Analysis: Applied Research in Emerging Markets 2019, Vol. 52, No. 2, pp. 12-27. https://doi.org/10.28934/ea.19.52.2.pp1 date: 2020-06-25 words: 162 flesch: 42 summary: Economic Analysis: Applied Research in Emerging Markets 2019, Vol. 52, No. 2, pp. 12-27. Economic Analysis: Applied Research in Emerging Markets 2019, Vol. 52, No. 2, pp. 12-27, have informed the Editorial Office of the error in the published text. keywords: analysis cache: ea-1282.pdf plain text: ea-1282.txt item: #31 of 301 id: ea-1285 author: NoghaniBehambari, Hamid; Noghani, Farzaneh; Tavassoli, Nahid title: Early Life Income Shocks and Old-Age Cause-Specific Mortality date: 2020-12-11 words: 16047 flesch: 68 summary: The effects of shocks in early life mortality on later life expectancy and mortality compression: A cohort analysis. Next, to account for the secular increase in health conditions during childhood, we add an interaction of state of birth with rates of childhood mortality. keywords: b u; b y; e b; e m; es s; m o; n es; o b; o n; s y; y es; y o cache: ea-1285.pdf plain text: ea-1285.txt item: #32 of 301 id: ea-1289 author: Popović-Pantić, Sanja; Semenčenko, Dušica; Vasilić, Nikola title: Gender Based Analysis of the Access to Public Procurement in Western Balkan by SMEs date: 2020-12-11 words: 7451 flesch: 38 summary: Although public procurement has a potential to support the fight against discrimination and promote gender equality and social inclusion of various marginalized social groups, female- owned companies seem to be in even less favourable position than the male-owned ones in accessing public procurements. Microsoft Word - ea_2020_2_final.docx DOI: 10.28934/ea.20.53.2.pp51-67 ORIGINAL SCIENTIFIC PAPER Gender Based Analysis of the Access to Public Procurement in Western Balkan by SMEs Sanja Popović‐Pantić1* | Dušica Semenčenko1 | Nikola Vasilić1 1 University of Belgrade, Institute Mihajlo Pupin, Science and Technology Policy Research Center, Belgrade, Serbia ABSTRACT The subject of the research is the access to public procurement in Western Balkan region by SMEs including a gender equality perspective. keywords: barriers; companies; contracts; equality; european; gender; gender equality; importance; participation; procurement; public; smes; women cache: ea-1289.pdf plain text: ea-1289.txt item: #33 of 301 id: ea-1294 author: Stojanović, Danijela; Domazet, Ivana title: Use of Information Technologies in Educational Purposes – Case from Serbia date: 2020-12-11 words: 5084 flesch: 47 summary: In the period February-March 2016, the first research on the practice and preferences of using mobile technologies and social media was conducted among high school students. The questionnaire, which was used in this research, was designed to enable a comprehensive analysis of the use of mobile technologies among high school students. keywords: education; learning; media; mobile; research; results; school; students; technologies; use cache: ea-1294.pdf plain text: ea-1294.txt item: #34 of 301 id: ea-130 author: Vukotić-Cotič, Gordana; Stošić, Ivan title: Inflation in Serbia and in the European Union date: 2017-09-28 words: 3775 flesch: 51 summary: Annual inflation was higher in Serbia than in the EU throughout the period under observation. As a rule, the discrepancy between annual inflation in Serbia and annual inflation in the EU was large. keywords: consumer; dinar; inflation; prices; rate; serbia cache: ea-130.pdf plain text: ea-130.txt item: #35 of 301 id: ea-1301 author: Naghdi, Yazdan; Amirtaemeh, Hamid; Kaghazian, Soheila title: The Puzzle of Relationship between the Economic Growth and Happiness date: 2021-06-02 words: 6107 flesch: 53 summary: They claim that in the early stages of economic growth, happiness increases until it reaches its maximum point, and then along with economic growth happiness will decrease. The important point is that technology with all its complex, unknown, and uncontrollable dimensions has become the main engine of economic growth models. keywords: countries; democracy; easterlin; effect; growth; happiness; income; model; oligarchy; people; run; technology; 𝐻𝑃𝐼 cache: ea-1301.pdf plain text: ea-1301.txt item: #36 of 301 id: ea-1302 author: Marjanović, Darko; Đukić, Mihajlo title: Western Balkan countries as an attractive investment destination date: 2020-12-11 words: 5837 flesch: 46 summary: The importance of foreign direct investments reflects in their ability to contribute to development of comparative advantages and competitiveness. The aim of this paper is to analyse characteristics of the inflow of foreign direct investments in the Western Balkans (WB) countries, as well as the impact they might have on their economic growth and development. keywords: balkan; countries; development; economic; fdi; investments; investors; serbia; tax; western cache: ea-1302.pdf plain text: ea-1302.txt item: #37 of 301 id: ea-1314 author: Milojević, Nenad; Redžepagić, Srđan title: Current Trends and Future Progress in the Banking Risk and Capital Management date: 2020-12-11 words: 7185 flesch: 45 summary: CET1 for Group 1 banks in the complete phased-in final Basel III standard is reduced for 6.2% in comparison to the complete phased-in opening Basel III CET1 ratio. CET1 for Group 2 banks in the complete phased-in final Basel III accord is reduced for 2.4pp or 15.6% in comparison to the complete phased-in opening Basel III CET1 ratio. keywords: banking; basel; basel iii; capital; cet1; iii; management; ratio; risk; sector; serbia cache: ea-1314.pdf plain text: ea-1314.txt item: #38 of 301 id: ea-1315 author: Lukić, Radojko; Hanić, Hasan; Bugarčić, Milica title: Analysis of Profitability and Efficiency of Trade in Serbia date: 2020-12-11 words: 4071 flesch: 54 summary: TRADE EFFICIENCY IN SERBIA The assessment of trade efficiency in Serbia was performed using DEA analysis with constant and variable yield. Estimating technical efficiency and bootstrapping Malmquist indices. keywords: analysis; dea; efficiency; journal; model; profit; return; serbia; trade cache: ea-1315.pdf plain text: ea-1315.txt item: #39 of 301 id: ea-132 author: Kapić, Jadranka title: Cash Flow Statements date: 2017-09-28 words: 4447 flesch: 38 summary: Cash flows from business activities (IAS-7, Item 14) are: a) «Cash receipts from the sale of commodities and service provision; b) Cash receipts from royalties, compensations, provisions and other revenues; c) Cash payments to the suppliers for commodities delivered and services provided; d) Cash payments to the employees and for the employee accounts; e) Cash receipts and cash payments form insurance companies, by way of premium and claim settlements, annuity and other benefits from insurance policy; f) Cash payments or tax refunds on profits except when these cannot be specifically related to financial and investment activities; g) Cash receipts and payments based on contracts concluded for the purposes of closing business deals or for the trading purposes». Business individuals deciding for this method, in the segment of statements related to business activities will present a minimum of the following types of cash receipts and payments: a) Money in cash received from the buyers, including other cash receipts, for instance, advance payments, wages, and similar; b) Receipts from both interest and dividends; c) Other receipts from business activities; d) Cash payments to employees, tangible assets and commodities suppliers and service providers, including insurance and advertising companies and similar; e) Payments for interest; f) Payments for taxes; g) Other business activities based payments. keywords: accounting; activities; assets; business; cash; flows; payments; receipts; statements cache: ea-132.pdf plain text: ea-132.txt item: #40 of 301 id: ea-1320 author: Jovičić, Elena; Stevanović, Slavica; Beraha, Isidora title: Serbia-China bilateral trade relations: major challenges and opportunities date: 2020-12-11 words: 5465 flesch: 52 summary: Trade aspects with regard to CEE countries and China bilateral relations are investigated by Xin, (2012); Jacimovic, et al. (2018); Matura, (2019); Szunomár, Liisi and Leonte (2020), and others. Moreover, there were certain obstacles hampering bilateral trade relations. keywords: bilateral; china; chinese; cooperation; countries; economic; exports; relations; serbia; times; total; trade cache: ea-1320.pdf plain text: ea-1320.txt item: #41 of 301 id: ea-1322 author: Stanceva Gigov, Iskra title: Impact of the Covid19 Outbreak on Macedonian Trade Flows date: 2020-12-11 words: 4831 flesch: 50 summary: Some of the involved measures are the following:  Trade measures which mostly have been designed to ban Macedonian exports of medical equipment - temporary export quotas on masks, which is still in use, or food products - temporary export quotas of wheat and flour, which was terminated on 30 April (International Trade Centre, 2020). As in the Macedonian economy, so in other countries in the Western Balkans, trade measures are designed mostly to ban the export of medical equipment or food products. keywords: chart; economy; export; import; macedonia; measures; north; products; trade cache: ea-1322.pdf plain text: ea-1322.txt item: #42 of 301 id: ea-1323 author: Petkovska Mirchevska, Tatjana; Daniloska, Natasha; Boshkovska, Diana; Petkovski, Vladimir title: Change in Consumers’ Behavior during the COVID 19 pandemic as an Opportunity to foster Digital Entrepreneurship in the Republic of North Macedonia date: 2021-06-02 words: 4723 flesch: 48 summary: The findings also open the possibility for further research of consumer behaviour across cultural diversity (Jagdish, 2020). A survey of consumer behaviour was conducted in April 2020 after the announcement of the COVID-19 pandemic in Republic of North Macedonia. keywords: behaviour; consumer; covid-19; crisis; pandemic; products; respondents cache: ea-1323.pdf plain text: ea-1323.txt item: #43 of 301 id: ea-1325 author: Simović, Vladimir title: The Factors Affecting the level of Digital Entrepreneurial Competences of University Students date: 2020-12-11 words: 5143 flesch: 41 summary: The tool would enable the assessment of digital entrepreneurial competences of the university students in Serbia and the analysis of the factors underlying different levels of digital entrepreneurial competences. The introductory part of the paper brings the relevant research and the current knowledge in the area of digital entrepreneurial competences with the special emphasis on the existing general digital and general entrepreneurial competence frameworks. keywords: assessment; competence; dec; education; european; framework; level; research; serbia; students; university cache: ea-1325.pdf plain text: ea-1325.txt item: #44 of 301 id: ea-133 author: Đogić, Rifet; Kulović, Dženan; Čolaković, Đenana title: Assumptions and Requirements for Entrepreneurship Determining Role in the Development of the National Economy date: 2017-09-28 words: 9263 flesch: 31 summary: KEY WORDS: market economy, entrepreneurship development, development of national economy, transition of economy, company restructure Introduction We are living in a time of changes. Entrepreneurship and contemporary tendencies Entrepreneurship always had an important role in the development and reconstructing of market economy and it was decisive in the so called trans periods when civilization changes were occurring, e.g. the transfer from agrarian to industrial civilization in the 15th and 16th century or the current transfer from industrial to information civilization which in terms of time coincides with the transfer from command economy to social-market economy in the so called countries in transition, while the worldʹs most developed countries have more-less entered that world a long time ago. keywords: bosnia; business; competition; development; economy; enterprises; entrepreneurship; market; market economy; new; process; social; state; system; transition cache: ea-133.pdf plain text: ea-133.txt item: #45 of 301 id: ea-1330 author: Aćimović, Slobodan; Mijušković, Veljko; Golubović, Marko title: Military Logistics vs. Business Logistics date: 2021-06-02 words: 12136 flesch: 42 summary: Military logistics as a specific area of logistic management makes the difference between a well-supplied and self-sustaining army which due to an efficiently created supply chain, can * Corresponding author, e-mail: veljko.miljuskovic@ekof.bg.ac.rs Slobodan Aćimović, Veljko Mijušković, Marko Golubović 119 perform it’s military actions more efficiently and an army that, due to insufficient commitment to military logistics activities creates an inefficient army that is cut off from food, water, and other basic resources without which the army can’t function. Today, military logistics is the focus of every serious military force in the world, and serious investments are made in military logistics activities so that the operational part of the army always has the support and efficiently performs its tasks with the help of military logistics. keywords: activities; analysis; army; business logistics; chain; costs; logistics; logistics activities; logistics management; maintenance; management; military; protection; resources; state; supply; transport; use; war cache: ea-1330.pdf plain text: ea-1330.txt item: #46 of 301 id: ea-1331 author: Petković, Miloš; Đorđević, Milica title: Intellectual Capital Investments and Company's Profitability date: 2021-06-02 words: 6844 flesch: 50 summary: The study is divided into three parts aiming to address the three key research questions raised in the study: the first research question examines the influence of R&D investments on company intangible assets; second research question calculates efficiency of capitalized or transformed intangible assets value coming from R&D investments, whereas the third research question examines generated returns on capitalized assets. For IC managers it is of utmost importance to measure and monitor the indicator of Efficiency of intangible assets investments (as visible segment). keywords: assets; capital; companies; company; investments; r&d; research; value; vol cache: ea-1331.pdf plain text: ea-1331.txt item: #47 of 301 id: ea-1334 author: Shirazawa, Guilherme; Simões, Marta title: Housing Quality and Human Capital Formation in Developing Countries date: 2021-06-02 words: 9869 flesch: 44 summary: Even though human capital quality plays a more important role than its quantity in the explanation of economic growth, the two previous studies show that human capital in general is crucial if countries are in pursuit of long-term prosperity. However, we were not able incorporate human capital quality in our analysis as internationally comparable data on student’s performance is not available for most of the countries in our sample. keywords: analysis; capital; countries; data; growth; housing; housing quality; human; income; lack; model; quality; relationship; results; table; variables cache: ea-1334.pdf plain text: ea-1334.txt item: #48 of 301 id: ea-1336 author: Savović, Slađana; Marković, Dušan title: International Acquisitions and Labor Productivity in Serbian Cement Industry date: 2021-06-02 words: 7876 flesch: 41 summary: This paper investigates the impact of international acquisitions on the productivity of acquired companies in the cement industry of the Republic of Serbia. The paper analyzes the effects of international acquisitions on the productivity of acquired companies in the short and long term. keywords: acquisitions; business; cement; companies; impact; industry; international; labor; labor productivity; number; period; productivity; serbia cache: ea-1336.pdf plain text: ea-1336.txt item: #49 of 301 id: ea-134 author: Kolaković, Kristijan; Marinković, Vladimir; Stefanović, Saša title: Employee Development and Knowledge-based Organization date: 2017-09-28 words: 4503 flesch: 30 summary: KEY WORDS: employee development, learning organization, knowledge - based organization Introduction The changes, quotidianly dictated by the new technologies and the occurrences on the global market, established new relations among the companies at all levels. Education as the key aspect of employee development Increased dynamic of the development of new technologies had extremely positively influenced the education growth process. keywords: company; development; education; employees; knowledge; learning; new; organization cache: ea-134.pdf plain text: ea-134.txt item: #50 of 301 id: ea-1343 author: Janeska, Verica; Lozanoska, Aleksandra title: The Impact of Digitalization on the Labour Market: The Case of North Macedonia date: 2021-06-02 words: 9064 flesch: 44 summary: Key words: Digitalization, labour market, skills, jobs, education, management relations, trade unions, North Macedonia JEL Classification: O30, J2, J6, J51, J53, I25 INTRODUCTION MAIN FEATURES OF LABOUR MARKET IN NORTH MACEDONIA keywords: changes; digitalization; education; employment; impact; jobs; labour; labour market; macedonia; market; north; research; respondents; skills; work cache: ea-1343.pdf plain text: ea-1343.txt item: #51 of 301 id: ea-1345 author: Ljutić, Ivana title: Corporate Governance of the Companies Listed on the Belgrade Stock Exchange date: 2021-06-02 words: 8469 flesch: 44 summary: The main goal of our analysis was to give a standard and harmonized overview on the quality of corporate governance of issuers at the Belgrade Stock Exchange, which in turn could be compared with the relevant exchanges worldwide, also to be used for policy makers, regulators and issuers to make practical steps to further improve the quality of corporate governance Key words: Corporate governance, listed companies, Belgrade Stock Exchange, balanced scorecard, G20/OECD/IFC JEL Classification: O16, G3, G34, M41, M42 INTRODUCTION As any other deep and profound economic crisis this one shall have a dire consequence on the business performance of the companies. The economic crisis shall certainly have negative impact on the quality of corporate governance and social democratic values. keywords: belex; board; companies; company; corporate; directors; governance; information; issuers; oecd; principles; serbia; shareholders cache: ea-1345.pdf plain text: ea-1345.txt item: #52 of 301 id: ea-135 author: Ivanović, Lana; Jeločnik, Marko title: Analysis and Planning of Apple Production As Factor of Rural Development Support date: 2017-09-28 words: 2887 flesch: 59 summary: Analysis of present condition in apple production in the world and Serbia, • Determination and comparison of apple production trends, • Analysis of influence of natural and socio-economic conditions on apple production, • Introspection of possibilities that apple production become a carrier of rural development in Serbia. Regardless to insufficient use of available natural resources in apple production, it has great potential for export and development of small processing capacities, so it might be relevant factor in stimulation of rural development. keywords: analysis; apple; apple production; development; period; production; serbia; trend; world cache: ea-135.pdf plain text: ea-135.txt item: #53 of 301 id: ea-136 author: Zdravković, Aleksandar; Beraha, Isidora; Domazet, Ivana title: Corporate governance, performances measurement, and normative coordination of internal control systems by Proffesor Valter Cantino, Phd date: 2017-09-28 words: 2093 flesch: 26 summary: Indicating the close connection between the risk management systems and internal control systems, the second chapter of the book examines business risks and internal control system. The first chapter examines the corporate governance and companies” business operations evaluation Zdravković, A., et al., Book Preview, EA (2009, Vol. 42, No. 3-4, 86-90) 87 • The second chapter examines the business risks and internal control systems • keywords: company; control; governance; management; system cache: ea-136.pdf plain text: ea-136.txt item: #54 of 301 id: ea-1369 author: Zubović, Jovan; Zdravković, Aleksandar; Jovanović, Olivera title: Intentions to Smoking Cessation in the Time of COVID-19 date: 2021-06-02 words: 5139 flesch: 55 summary: Keywords: Smoking cessation, smoking habits, COVID-19, Serbia JEL Classification: E20, H20, C13 INTRODUCTION Also, the number of smokers who believe that during pandemic smoking cessation has got more difficult (24.7%) considerably exceeds the number of those who believe opposite (6.4%) (Bommelé et al, 2020). keywords: covid-19; economic; intentions; pandemic; products; quit; smokers; smoking; tobacco cache: ea-1369.pdf plain text: ea-1369.txt item: #55 of 301 id: ea-137 author: Zubović, Jovan title: Conference Review date: 2017-09-28 words: 1722 flesch: 36 summary: Romano Rossi, owner of Progetti International • dr. Ivano Canteri, Global Marketing Manager, Chamber of Commerce, Turin – Centre for foreign investments Dr Botzios presented the role of Italian embassy in attracting Italian companies to invest in Serbia. Dr Corsi gave the insight of Business opportunities for Italian companies in Serbia. keywords: belgrade; business; serbia; university cache: ea-137.pdf plain text: ea-137.txt item: #56 of 301 id: ea-1392 author: Ljumović, Isidora; Hanić, Aida; Stevanović, Slavica title: Crowdfunding Response to the COVID-19 Pandemic date: 2022-05-10 words: 5671 flesch: 55 summary: We tested how selected factors of crowdfunding campaigns altered during the COVID-19 pandemic, following mainstream academic literature. To see how the COVID-19 pandemic period changed the origins of campaign creators across countries, we transformed a variable pointing out the country or origin of the campaign creator. keywords: 2020; 2021; campaigns; covid-19; crisis; crowdfunding; economic; number; pandemic; research cache: ea-1392.pdf plain text: ea-1392.txt item: #57 of 301 id: ea-1393 author: Cvetkov-Čikošev, Tatjana; Domazet, Ivana; Vukmirović, Valentina title: Customer Experience and Integrated Marketing Communication in the Automotive Lubricants Market date: 2021-12-22 words: 6672 flesch: 44 summary: Key words: Customer Experience; Customer Journey; Decision making; Integrated marketing communication; Digital communication channels; Automotive lubricants market JEL Classification: M31, M21 INTRODUCTION Contemporary manners of doing business pose certain challenges to marketing practices, which is the result of a fact that customers, brands and media are fundamentally changing. * Coressponding author, e-mail: ivana.domazet@ien.bg.ac.rs Tatjana Cvetkov-Čikošev, Ivana Domazet, Valentina Vukmirović 69 Besides communication, i.e., choosing what and how to communicate, and at which points of contact, the focus of businesses is on customer experience, because customers now communicate with businesses through multiple points of contact and multiple channels and media. keywords: brand; communication; customer; domazet; experience; information; marketing; media; nisotec; product; purchase; research; user cache: ea-1393.pdf plain text: ea-1393.txt item: #58 of 301 id: ea-1394 author: Lazarević-Moravčević, Marija; Kamenkovic, Sandra title: The Impact of the Covid-19 Crisis on the Serbian Economy - Consequences and Recovery date: 2021-12-22 words: 7901 flesch: 40 summary: The total value of economic support measures in the first package was slightly less than 610 billion RSD (which is about 11% of GDP), but it is important to note that the amount includes both public and private funds that are engaged. Having this in mind, the impact of economic measures is not the same on the budget deficit and public debt, i.e. the impact on public debt is, given the methodology of calculating public debt in Serbia, 430 billion RSD, while the impact on the budget deficit is slightly less than 370 billion RSD (Fiskalni savet, Ocena antikriznog programa ekonomskih mera, 2020). keywords: business; companies; crisis; economic; economy; employees; enterprises; measures; number; pandemic; rsd; sector; serbia cache: ea-1394.pdf plain text: ea-1394.txt item: #59 of 301 id: ea-1410 author: Činjarević, Merima; Agić, Emir; Dizdarević, Enisa; Alić, Adi; Halilbašić, Muamer title: Design and packaging: An important factor in consumer behavior when buying juices date: 2021-12-22 words: 6313 flesch: 53 summary: Key words: package color, taste, cross-modal correspondences, orange juice JEL Classification: M31 INTRODUCTION In the modern market, consumers are faced with a mélange of products and advertising messages, making the entire buying process highly complex. It has been argued that the drastic change in color package (transparent color) has contributed to the failure of Crystal Pepsi. keywords: color; consumers; correspondences; juice; orange; package; product; research; shape; spence; taste; white cache: ea-1410.pdf plain text: ea-1410.txt item: #60 of 301 id: ea-1411 author: Petković, Miloš title: Intercultural Competences in the French Financial Services Companies date: 2021-12-22 words: 6125 flesch: 38 summary: However, companies do not tend to publish or present their indicators of human capital externally because of a high risk of losing talented employees to competitors. ICC as a part of human capital is a key companies’ resource for creation of future value and should be therefore more considered in companies’ communication practices. keywords: analysis; capital; category; companies; company; corpus; human; icc; knowledge; news; research; topic cache: ea-1411.pdf plain text: ea-1411.txt item: #61 of 301 id: ea-1414 author: Marjanović, Darko; Beraha, Isidora; Simović, Vladimir title: The Impact of Import, Export and FDI on the Economic Growth of the Western Balkans Countries date: 2021-11-04 words: 5906 flesch: 52 summary: According to the presented conclusions, the coefficient of corruption control, government efficiency, political stability and rule of law are more important for FDI inflow in developed countries compared to developing countries, which clearly indicates that institutional quality is an important determinant of FDI in developed countries. Economic policy should create conditions for macroeconomic stability and economic growth based on increased investment, exports, savings, productivity, and competitiveness, while reducing macroeconomic imbalances, especially the fiscal deficit, inflation, and the current account deficit. keywords: 2020; countries; economic; exports; fdi; goods; growth; period; trade cache: ea-1414.pdf plain text: ea-1414.txt item: #62 of 301 id: ea-1415 author: Bodroža, Duško; Lazić, Milena title: Economic Impact of the COVID-19 Pandemic on Western Balkan Countries date: 2021-12-06 words: 4766 flesch: 51 summary: Also, Western Europe countries are the largest trading partners for WB countries (Bonomi and Uvalic, 2019). The aim of this paper is to evaluate the economic impact of the crisis on key macroeconomic variables (GDP, public debt, fiscal balance and unemployment) in WB countries. keywords: countries; covid-19; crisis; debt; economic; gdp; impact; pandemic; western; world cache: ea-1415.pdf plain text: ea-1415.txt item: #63 of 301 id: ea-1418 author: Korenak, Boris; Stakić, Nikola title: Beyond the Returns - the U.S. Mutual Funds Value and Growth Style Weighted Sector Portfolios Investment Performance Attribution date: 2021-11-04 words: 6964 flesch: 49 summary: It is important to stress out that when it comes to sector allocation effect Brinson-Fachler and Brinson-Hood-Beebower models they produced the same total allocation effect for any given period, in our case a year. Sector allocation effect is positive for two periods and security selection effect is positive for only one period. keywords: allocation; attribution; effect; funds; performance; portfolio; return; sector; selection; total; value cache: ea-1418.pdf plain text: ea-1418.txt item: #64 of 301 id: ea-1424 author: Shalamanov, Stoyan Stoyanov title: Economic Activity And Employment in the Non-Financial Sector of Bulgaria under Conditions of Covid-19 Crisis. Sectoral Vulnerability Assessment date: 2022-07-12 words: 11060 flesch: 53 summary: economic sectors in order to refine the economic support policy in Bulgaria. The growth by economic sectors of the Bulgarian economy in pre-pandemic 2019 is defined as sustainable, because the Industry sector has the highest contribution. keywords: bulgaria; business; covid-19; crisis; decline; economy; employment; index; measures; pandemic; quarter; restrictions; sector; services; social; transport; world cache: ea-1424.pdf plain text: ea-1424.txt item: #65 of 301 id: ea-1427 author: Budak, Ana title: State and Perspectives of Agricultural Land Acquisitions date: 2022-05-11 words: 10504 flesch: 50 summary: The latest wave of agricultural land acquisitions, according to the general understanding, started with the global financial crisis. The main goal of this paper is to review and explore the state and perspectives of agricultural land acquisition on a global level. keywords: agriculture; countries; data; demand; food; hectares; international; investment; investors; land; land acquisitions; land matrix; population; production; water; world cache: ea-1427.pdf plain text: ea-1427.txt item: #66 of 301 id: ea-1435 author: Banović, Jelena; Pavlović, Dejana title: Information and Communication Technology’s Skills among the Working Population of Serbia date: 2021-12-30 words: 4818 flesch: 43 summary: In this paper, the use of ICT skills in Serbia is presented through an analysis of the microdata from the survey “The Usage of Information and Communication Technology on individuals/households in the Republic of Serbia for 2020”. ICT skills are essential for every individual to learn and work while accessing information on the Internet and finding reliable data. keywords: digital; ict; individuals; internet; labor; market; serbia; skills; use cache: ea-1435.pdf plain text: ea-1435.txt item: #67 of 301 id: ea-1436 author: Arikewuyo, Kareem Abidemi; Yunusa, Lateef Adewale; Oke, Babatunde O.; Okuneye, Babatunde Adekunle title: Do Labour and Political Will Affect Agricultural Output? date: 2021-12-30 words: 6965 flesch: 43 summary: Also, in the third model was the decomposition of employment in agricultural sector into male employment in agriculture (𝑎𝑎𝑎𝑎𝑝𝑝) and female employment in agriculture (f𝑎𝑎𝑝𝑝) but isolated the labour employment, the coefficient of the male employment in agriculture is positively related to agricultural output while the coefficient of female employment is negatively related to agricultural output in SSA region. A unit increase in the male employment increase agricultural output by 0.1072 while an increase in the female employment in agricultural sector decreases agricultural output by 0.0562 in the SSA region. keywords: agriculture; employment; exchange; farm; labour; model; nigeria; output; productivity; rate; region; sector; ssa; study cache: ea-1436.pdf plain text: ea-1436.txt item: #68 of 301 id: ea-1439 author: Mladenka, Balaban; Zoran, Grubišic title: Monitoring fiscal risks in the national economy date: 2021-12-30 words: 5376 flesch: 40 summary: DOI: 10.28934/ea.21.54.2.pp128-138 PRELIMINARY REPORT Monitoring Fiscal Risks in the National Economy Mladenka Balaban1* | Zoran Grubišić1 1 Belgrade Banking Academy, Faculty for Banking, Insurance and Finance, Belgrade, Serbia ABSTRACT Due to the materialization of various types of fiscal risks over the past years Fiscal risks are short- and medium-term budget, financial or other reports or projections of public finances. keywords: budget; debt; financial; government; monitoring; public; revenues; risk; self; serbia; state cache: ea-1439.pdf plain text: ea-1439.txt item: #69 of 301 id: ea-1441 author: Karina, Galuh Gusti; Syahnur, Sofyan title: The Effect of Fertilizer Subsidy, Food Credit, and Government Expenditure on Infrastructure towards Food Security date: 2021-12-30 words: 5075 flesch: 48 summary: Food security is composed of three major subsystems: availability, access, and absorption of food, whereas nutritional status is a byproduct of food security. This research classifies food security into supply side and demand side. keywords: availability; consumption; energy; food; food security; model; protein; security; term; test; variables cache: ea-1441.pdf plain text: ea-1441.txt item: #70 of 301 id: ea-1449 author: Lebedinski, Lara title: An Evaluation of the Short-term Skills Trainings Targeting the Roma Ethnic Minority date: 2022-06-15 words: 6088 flesch: 60 summary: • Roma participants of skills trainings are less educated than non-Roma participants, most Roma finished only primary school. A comparison between non-Roma and Roma shows that Roma participants are, on average, less educated. keywords: employment; impact; market; nes; non; participants; roma; skills; trainings cache: ea-1449.pdf plain text: ea-1449.txt item: #71 of 301 id: ea-1453 author: Erić Nielsen, Jelena; Stojanović Aleksić, Vesna; Todorović Spasenić, Ana title: Just-In-Time Strategy Implementation Challenges and The Organizational Structure Dimensions date: 2022-06-08 words: 9878 flesch: 29 summary: Numerous studies on the factors of successful JIT strategy implementation have indicated a significant impact of organizational structure parameters on generating JIT strategy implementation goals, primarily cost reduction, continuous product improvement and improving business profitability (Germain, Droge, & Daugherty, 1994; White, Ojha, & Ching-Chung, 2010; Kartika & Wijaya, 2015; Phogat & Gupta, 2017; Smith, 2019; Taghipour, Hoang, & Cao, 2020). Abdallah and Matsui (2007), in their research on the impact of JIT production on the performance of this system, mentioned the importance of organizational Jelena Erić Nielsen, Vesna Stojanović Aleksić, Ana Todorović Spasenić 35 design for generating JIT strategy implementation goals. keywords: analysis; business; companies; company; employees; factors; implementation; jit strategy; management; manufacturing; production; research; strategy implementation; structure; teamwork cache: ea-1453.pdf plain text: ea-1453.txt item: #72 of 301 id: ea-146 author: Radović-Marković, Mirjana title: Note from the Editor-in-Chief date: 2017-09-29 words: 185 flesch: 44 summary: Prof. dr Mirjana Radović Marković Editor-in-Chief Economic Analysis Microsoft Word - 2010_1_2.doc Note from the Editor-in-Chief I am pleased to be able to present this special issue of Economic Analysis which is devoted to Scientific Conference “Economic Prospect in the Second Decade of the 21st Century” (14. – 15. April 2010), organized by Belgrade Banking Academy and Institute of Economic Science in Belgrade. keywords: issue cache: ea-146.pdf plain text: ea-146.txt item: #73 of 301 id: ea-147 author: Glova, Jozef title: Guest Editor’s Notes date: 2017-09-29 words: 895 flesch: 35 summary: Microsoft Word - 2010_1_2.doc Guest Editor’s Notes The current volume of Economic Analysis provides a collection of original scientific papers and scientific reviews covering a wide range of topics from small and medium enterprises (SME) research to price stability and employment research, business logistics and business valuation. The author summarize the theoretical and empirical literature of the relationship between fiscal policy and long run economic growth shortly on the one hand, and on the other hand used the parameter estimates of a third generation study of developed countries to evaluate the fiscal policy actions taken in Hungary and in Ireland. keywords: author; business; countries; enterprises cache: ea-147.pdf plain text: ea-147.txt item: #74 of 301 id: ea-1470 author: Zdravković, Stefan; Gašević, Dragana title: Effects of Consumer Ethnocentrism, Cosmopolitanism and Cultural Intelligence on the Acceptance of Foreign Brands date: 2022-06-08 words: 7319 flesch: 42 summary: The results of the research showed that consumer ethnocentrism has a negative statistically significant impact, and consumer cosmopolitanism and cultural intelligence have a positive statistically significant impact on consumer attitudes towards foreign brands, and a positive attitudes implies consumer loyalty to foreign brands. Key words: consumer ethnocentrism, consumer cosmopolitanism, cultural intelligence, foreign brands JEL Classification: A13, M21, M31 INTRODUCTION Due to the process of globalization and liberalization of international trade, an increasing number of companies are internationalizing their business, that is placing their brands on foreign markets (Wong, Polonsky & Garma, 2008). keywords: 2017; analysis; brands; consumer; consumer ethnocentrism; cosmopolitanism; ethnocentrism; factor; foreign; impact; intelligence; journal; marketing; products; research cache: ea-1470.pdf plain text: ea-1470.txt item: #75 of 301 id: ea-1475 author: Minović, Jelena; Janković, Irena; Kovačević, Vlado title: Stock Markets Integration between Western Europe and Central and South-Eastern Europe: Latest Trends date: 2022-06-15 words: 6842 flesch: 56 summary: Key words: Stock market integration, Multivariate GARCH, BEKK model, Central Europe, South-Eastern Europe JEL Classification: G15, F36, C32, C58, O16 INTRODUCTION Financial integration is a term used to explain the level and the strength of financial market connectedness across various markets. Büttner & Hayo (2011) analysed “the determinants of stock market integration among EU member states for the period 1999-2007”. keywords: central; coefficient; correlation; countries; eastern; europe; european; ii iii; iii iv; integration; markets; period; stock; stock markets cache: ea-1475.pdf plain text: ea-1475.txt item: #76 of 301 id: ea-148 author: Matray, Myriam title: The Upsurgence of Clusters in the Light of Globalization date: 2017-09-29 words: 7562 flesch: 39 summary: Matray, M., The Upsurgence of Clusters, EA (2010, Vol. 43, No, 1-2, 9-24) 17 History of the establishment of clusters; new industrial strategy of government. With this logic, competitiveness clusters gradually become a model of industrial performance. keywords: clusters; competitiveness; countries; development; european; globalization; information; mediterranean; pole; policy; process; projects; territory cache: ea-148.pdf plain text: ea-148.txt item: #77 of 301 id: ea-1485 author: Živković, Aleksandra title: Forecast of Belex15 and Belexline movement using ARIMA model date: 2022-07-12 words: 5813 flesch: 60 summary: ARIMA model was used to forecast index values for the following 11 trading days - from 1st April until 15th April 2022. Obtained results point to high accuracy of forecasted values and lead to the conclusion that ARIMA model is corresponding econometric method for short-term forecast of Belgrade Stock Exchange indices. keywords: arima; arima model; belex15; belexline; data; forecast; index; indices; model; stock; values cache: ea-1485.pdf plain text: ea-1485.txt item: #78 of 301 id: ea-1488 author: Wilson, Nikaela; Vuksanović Herceg, Iva title: The Quest towards Obtaining a Competitive Advantage in Organizations through Managing the Human Capital date: 2022-11-01 words: 9945 flesch: 35 summary: Investment priority between employees and the organization would have far- reaching practical effects on competitive advantage, especially when employers prefer to invest in the organization instead of human capital resources. Hence, organizations need to value human capital management in the company’s structure. keywords: advantage; business; capital; challenges; commitment; employees; human; industry; journal; knowledge; management; organization; performance; resource; role; skills; study; technology; value; view cache: ea-1488.pdf plain text: ea-1488.txt item: #79 of 301 id: ea-149 author: Erős, Adrienn title: The Analysis of Long Run Growth Oriented Fiscal Policy date: 2017-09-29 words: 4701 flesch: 55 summary: In my paper I summarize the theoretical and empirical literature of the relationship between fiscal policy and long run economic growth shortly. KEY WORDS: fiscal policy, economic growth, Hungary, Ireland Review of the research topic The most important aim of economic policy is to ensure the highest level and most general welfare possible to the citizens of a country. keywords: economic; economy; gdp; growth; policy; rate; run; share cache: ea-149.pdf plain text: ea-149.txt item: #80 of 301 id: ea-1496 author: Nenadovic, Sanja title: Repo rates as reference interest rates: testing the expectations hypothesis of the term structure of interest rates date: 2022-10-21 words: 5837 flesch: 60 summary: Unsecured money markets carry a certain level of risk; thus, the question arises whether the existing reference interest rates should be replaced by repo rates or other interest rates on secured loans. The results show that collateralized interest rates are good indicators of benchmark interest rates and, in some cases, even more accurate predictors of long-term interest rates Keywords: reference interest rates, repo rates, expectations hypothesis, IBOR transition, collateralization JEL Classification: G12, G17, G20 INTRODUCTION Repo markets provide financial institutions with the necessary cash, so they play an essential role in managing short-term cash fluctuations. keywords: hypothesis; interest; interest rates; market; overnight; rates; repo; repo rates; results; term cache: ea-1496.pdf plain text: ea-1496.txt item: #81 of 301 id: ea-150 author: Tej, Jakub title: Economic Assessment of Selected Bank Mergers in the Central-East Europe Region in Comparison with Developed Countries date: 2017-09-29 words: 3392 flesch: 59 summary: Estimates of cost savings in bank mergers (in% of total costs) SBC-UBS 23 Bank of Scotland-NatWest 22 Bank Austria-Credit Anstalt 18 BankAmerika-SecPac 17 Wells-First Interstate 17 Chemical-Chase 16 Swedbank-Forenings 15 Lloyds-Midland 14 Vereinsbank-Hypobank 14 Fortis-Generale 11 Source: Davis, S. I. 2007 By the volume of capital bank mergers and acquisitions belong to highest rank of operations. keywords: bank; capital; eastern; europe; graph; merger; value; year cache: ea-150.pdf plain text: ea-150.txt item: #82 of 301 id: ea-1507 author: Đorđević, Bojan; Stanković, Sunčica title: Covid-19 and Serbian Stock Market Response date: 2022-11-01 words: 5792 flesch: 52 summary: Keywords: Covid-19, Stock market indices, Belgrade Stock Exchange, Panel data analysis JEL Classification: C33, D53, I10 INTRODUCTION The Covid-19 pandemic, besides the uncertainty and panic, led to a temporary lockdown in many states and the slowdown of economic activities. Amin et al. (2021) inspected the pandemic effect on stock market indices in North, Central, and South America. keywords: analysis; covid-19; daily; data; market; model; number; pandemic; research; results; serbia; stock; stock market; test; volume cache: ea-1507.pdf plain text: ea-1507.txt item: #83 of 301 id: ea-1527 author: Domazet, Ivana; Marjanović, Darko; Ahmetagić, Deniz; Antonijević, Marija title: Does the Increase in the Number of Registered Patents Affect Economic Growth? - Evidence from Romania and Bulgaria date: 2022-12-06 words: 7622 flesch: 46 summary: The causal relationship between patent growth and growth of GDP with quarterly data in the G7 countries: cointegration, ARDL and error correction models. Patent data are more closely related to innovation than research Ivana Domazet, Darko Marjanović, Deniz Ahmetagić, Marija Antonijević 51 and development data. keywords: economic; growth; inhabitants; innovation; number; patents; regression; results; variables cache: ea-1527.pdf plain text: ea-1527.txt item: #84 of 301 id: ea-1538 author: Tongsoongnern, Patarawadee; Lee, Wing Shing title: Influence of green transformational leadership on the workplace pro-environment behavior date: 2022-12-26 words: 7694 flesch: 43 summary: In addition, green transformational leadership has a direct impact on both green mindfulness and green efficacy. This study aims to analyze the impact of green transformational leadership on pro- environmental behavior in the workplace. keywords: behavior; efficacy; environment; followers; green; journal; leadership; measurement; mindfulness; relationship; research; results; self; workplace cache: ea-1538.pdf plain text: ea-1538.txt item: #85 of 301 id: ea-1546 author: Paunović, Mihailo; Lazarević- Moravčević, Marija; Mosurović, Marija title: Business Process Innovation of Serbian Entrepreneurial Firms date: 2022-12-08 words: 6185 flesch: 40 summary: No statistically significant differences were found regarding introducing business process innovations among entrepreneurial firms from different industries. Keywords: innovation, entrepreneurship, business process innovation, Serbia JEL Classification: O31, O32 INTRODUCTION There are different interpretations of the innovation phenomenon in the professional literature. keywords: business; business process; companies; company; development; economic; firms; innovation; new; process; product; research cache: ea-1546.pdf plain text: ea-1546.txt item: #86 of 301 id: ea-155 author: Horvátová, Eva title: Method of Banks Valuation date: 2017-09-29 words: 4390 flesch: 61 summary: KEY WORDS: banks valuation methods, free cash flow equity, discounting factor, cost on equity, beta factor Introduction The issue of banks and financial institutions valuation have been written relatively few comprehensive theoretical and methodological work. Microsoft Word - 2010_1_2.doc ORIGINAL SCIENTIFIC PAPER Method of Banks Valuation Horvátová Eva*, University of Economics in Bratislava, Faculty of National Economy, Department of Banking and International Finance, Bratislava, Slovakia UDC: 336.717 JEL: G21 ABSTRACT – Since there is not a special common framework for valuation banks and it gives possibilities to create establishment, improvement and adaptation of various approaches to measuring the value of banks and financial institutions. keywords: bank; capital; cash; isbn; market; model; rate; risk; valuation; value cache: ea-155.pdf plain text: ea-155.txt item: #87 of 301 id: ea-1552 author: Petković, Miloš title: Corporate News Disclosure and Competitive Advantage: What Factors Influence on S&P 500 Companies’ Competitive Advantage During 2022 Economic Crisis? date: 2023-04-10 words: 4746 flesch: 48 summary: Keywords: corporate news disclosure, competitive advantage, S&P 500 companies, economic crisis JEL Classification: M14, L25, H12 INTRODUCTION The main research objective is to explore corporate news disclosure in the S&P 500 biggest companies related to the topic of competitive advantage. keywords: advantage; analysis; companies; company; disclosure; market; news; performance; research; text cache: ea-1552.pdf plain text: ea-1552.txt item: #88 of 301 id: ea-1555 author: Jovičić, Elena; Stojanović, Danijela title: Key Features and Challenges of the China-Western Balkan Countries Merchandise Trade Development date: 2022-12-15 words: 6224 flesch: 48 summary: Furthermore, export trade diversification is essential since it makes economies more adaptable to changes in demand, enables more effective inclusion of small and medium- sized enterprises, and promotes innovation (Songwe, 2019). Although the trade intensity index (TII) also confirms the deepening of trade relations, the TII value of 0.24 in 2021 indicates that trade between the Western Balkans and China is not developed at a desirable level, and there is considerable room for improvement. keywords: approach; balkans; china; countries; economic; exports; growth; imports; recorders; relations; serbia; trade; western cache: ea-1555.pdf plain text: ea-1555.txt item: #89 of 301 id: ea-1560 author: Staletović, Maja; Bačevac, Srećko; Stevanović, Mirjana; Pantelić, Ljubica title: Managers’ Attitudes on Sustainable Development Concept Application in Trading Companies date: 2023-03-31 words: 6357 flesch: 32 summary: Firstly, using the analytical and descriptive method, and based on available sources that deal with the issue of sustainable development and sustainable development concept application in trading companies, the importance of sustainable development concept in modern, very turbulent business conditions was pointed out, followed by the encouraging factors of sustainable development concept application in the trade sector, as well as the importance of sustainable operations of trading companies. In accordance with the importance that the sustainable development concept has today, the aim of the paper is based on the analysis of attitudes of employees in management positions in trading companies in the Republic of Serbia regarding the application of economic, ecological and social dimensions of sustainable development. keywords: application; business; companies; company; concept; development; development concept; extent; social; trading; trading companies cache: ea-1560.pdf plain text: ea-1560.txt item: #90 of 301 id: ea-1572 author: Škrinjarić, Bruno; Budak, Jelena; Carragher, Allison title: Corruption as an Obstacle to Pandemic Response date: 2023-03-29 words: 7122 flesch: 47 summary: On the other hand, the lowest rates of government trust were recorded in Eastern European countries that are not members of the EU, such as Russia, Belarus, Moldova, Serbia, and Ukraine (marked in light gray). It is very low in the first quarter of 2021 in all countries, regardless of the level of government trust (given that the vaccine became available only at the beginning of 2021), and rising in the second and the third quarters of 2021, most significantly in countries with a higher government trust rate (which reached vaccination rates of over 70 percent). keywords: analysis; cases; corruption; countries; country; covid-19; deaths; doi; government; health; index; new; pandemic; research; trust; vaccination; variables cache: ea-1572.pdf plain text: ea-1572.txt item: #91 of 301 id: ea-1574 author: Antonijević, Marija; Bradić-Martinović, Aleksandra; Banović, Jelena; Ivanović, Đina title: Is There a Relationship Between Country Development and Citizens’ Level of Digital Skills? date: 2023-05-15 words: 6101 flesch: 39 summary: This paper examines the relationship between citizens' level of digital skills and country development. Country development is measured by Gross National Income per capita (GNI p.c.), while digital skills are measured by the World Economic Forum. keywords: analysis; capita; countries; development; digital; economic; gni; income; international; level; skills cache: ea-1574.pdf plain text: ea-1574.txt item: #92 of 301 id: ea-160 author: Kotlebova, Jana title: Future Stance of Currencies in the International Monetary System date: 2017-09-29 words: 3193 flesch: 44 summary: Importance of currencies for the international market When talking about international currencies, we are interested in the extent to which a certain currency is used outside the domestic economy (the place of its issuance). As foreign currency denomination, they mainly use USD, EUR or GBP. keywords: currency; economies; exchange; market; usd cache: ea-160.pdf plain text: ea-160.txt item: #93 of 301 id: ea-1600 author: Mitić, Petar; Fedajev, Aleksandra; Kojić, Milena title: Exploring the Economy – Environment Interactions in the Western Balkans date: 2023-05-12 words: 6969 flesch: 43 summary: In order to balance economic growth with environmental preservation, the implementation of sustainable policies is necessary. These findings offer valuable insights for policymakers to develop comprehensive policies that promote economic growth and environmental sustainability, such as investing in clean energy, implementing stronger environmental regulations, and encouraging environmentally sound management practices. keywords: co2; cointegration; countries; economic; emissions; energy; gdp; growth; panel; relationship; run; test; wbs cache: ea-1600.pdf plain text: ea-1600.txt item: #94 of 301 id: ea-1611 author: Narkoji, Musa; Enebeli, Emmanuel; Bula, Yunah Bulus; Akadiri, Seyi title: Does Real Income and Population Matter in Evaluating Domestic Trade Performance? Evidence from Nigeria date: 2023-07-03 words: 4916 flesch: 53 summary: Also, changes in exchange rates positively impact domestic trade growth in the long-run period; information technology, in terms of growth in numbers of internet subscriptions, as well as trade openness, do not have a significant impact on trade growth. The findings show that growth in the country’s population and per capita income are the major factors driving domestic trade growth in Nigeria in both short-run and long-run periods. keywords: analysis; capita; exchange; growth; income; nigeria; population; rate; run; sector; study; test; trade cache: ea-1611.pdf plain text: ea-1611.txt item: #95 of 301 id: ea-1613 author: Ognjenović, Kosovka title: Impact of Continuing Education on Stable Employment and Wages of Men and Women in Serbia date: 2023-06-13 words: 8399 flesch: 46 summary: Gender wage gap in Serbia: inheritance and sources of the wage gap. Greater flexibility led to an increase in non-standard forms of employment and further contributed to widening wage gaps in the labor market, with fixed-term contracts predominating (Albanese and Gallo, 2020). keywords: average; data; education; employment; experience; gap; gender; job; labor; participation; serbia; training; wage; women; workers cache: ea-1613.pdf plain text: ea-1613.txt item: #96 of 301 id: ea-162 author: Milecová, Zuzana title: Differences Between Harmonized Indices of Consumer Prices and Consumer Price Indices in Selected Countries date: 2017-09-29 words: 5795 flesch: 64 summary: Consumer price indices in the Republic of Serbia In the Republic of Serbia two retail price indices were used on national level until January 2003. [7] ECB Understanding price developments and consumer price indices in South-Eastern Europe [online]. 2007 keywords: consumer; cpi; differences; hicp; index; indices; national cache: ea-162.pdf plain text: ea-162.txt item: #97 of 301 id: ea-163 author: Vokorokosová, Renatá title: Do Minimum Wage Changes Influence Employment? date: 2017-09-29 words: 2916 flesch: 56 summary: This article picks out minimum wage as an important part of employment research investigating two files; the number of working people aged 15 – 64 and all working labours. KEY WORDS: working force, minimum wage, ageing index, labour productivity Introduction Although there are several factors (like economic growth, foreign investments, education of workers, average wage, living wage1), effecting the number of employed persons, discussions are, however, held at the most about the relation between minimum wage2 and employment just on when setting in new level of minimum wage. keywords: changes; employment; index; labour; minimum; model; rate; wage cache: ea-163.pdf plain text: ea-163.txt item: #98 of 301 id: ea-164 author: Kościelniak, Helena title: Information Resources for Financial Monitoring in Enterprises date: 2017-09-29 words: 2219 flesch: 22 summary: Summary To sum up, it can be concluded that monitoring system, being a subsystem for information systems in enterprises, overtakes the tasks of information system and is in tune with it in terms of functions, language and tools. • It is emphasized that information sets might be analysed in three aspects (Olejniczak 1989): • syntax – by investigating the relationships between symbols representing economic information, without consideration of its content, • semantics – by investigating the content of economic information and the method of its representation by means of symbols, * keywords: analysis; decision; information; management; monitoring; organization; resources; system cache: ea-164.pdf plain text: ea-164.txt item: #99 of 301 id: ea-166 author: Grabara, Janusz; Kot, Sebastian title: Business Relations in Reverse Logistics Outsourcing date: 2017-09-29 words: 4334 flesch: 44 summary: Moreover, logistics companies often control their clients’ inventory, undertake complex servicing of distribution or logistic consulting – reaching far more than a selection of the route for deliveries or a supply base. Logistics companies also make use of advanced systems, however, the cost of their purchase might be spread among a few clients. keywords: activities; chain; companies; company; customer; logistics; outsourcing; product; services; supply cache: ea-166.pdf plain text: ea-166.txt item: #100 of 301 id: ea-168 author: Gubik, Andrea title: Social Aspects in Buyer-Supplier Relationships of SMEs in Hungary date: 2017-09-29 words: 3635 flesch: 46 summary: But uncertainty accompanying changes and the requirement of enhanced flexibility brought about major changes both in the quality of company cooperation and in the circle of the participants. JEL: P43; P31; N84 ABSTARCT – Cooperation among companies was brought to the focus of attention by the fast changes of economic circumstances and the role it can play in coping with risk, appreciating all those characteristics which can help fast reactions and adaptability, like faith among business partners and long run relationships. keywords: companies; cooperation; enterprises; medium; partnerships; region; relationships; supplier cache: ea-168.pdf plain text: ea-168.txt item: #101 of 301 id: ea-169 author: Střelecká, Zdenka title: Competition in Banking Market in Slovakia date: 2017-09-29 words: 3153 flesch: 57 summary: Firstly, it is because banking market belongs to the markets with high and strict regulation. In some cases, especially when comparing banking markets with various sizes, the Boone indicator appears as a more appropriate and flexible variable. keywords: competition; hhi; index; market; sector; share cache: ea-169.pdf plain text: ea-169.txt item: #102 of 301 id: ea-171 author: Pachura, Piotr title: Innovation Policy Based on Network Paradigm date: 2017-09-29 words: 4176 flesch: 35 summary: The paper describes the clustering pagadigm in EU policy and examples of the network creating process and organizing cluster initiatives in EU countries. In this document the results of research into cluster initiatives were presented within the dimension of their effectiveness and range. keywords: clusters; development; enterprises; initiatives; innovation; policies; policy cache: ea-171.pdf plain text: ea-171.txt item: #103 of 301 id: ea-172 author: Ślusarczyk, Beata title: Foreign Direct Investment and Global Economic Crisis date: 2017-09-29 words: 3345 flesch: 47 summary: Furthermore, it presents the characteristics of foreign direct investment with its crucial role in the process of globalization and development of national economies. In the light of economic crisis the article presents the role played by foreign direct investment in global economy. keywords: countries; crisis; economic; economies; fdi; globalization; influx; investment; world cache: ea-172.pdf plain text: ea-172.txt item: #104 of 301 id: ea-173 author: Lovre, Ivan; Perić, Mladen title: Inflation and unemployment by Bojan Dimitrijević date: 2017-09-29 words: 762 flesch: 25 summary: A modern version of Phillips curve in combination with IS - LM and AS – AD model indicates how inflation, unemployment, and GDP can be affected through monetary and fiscal policy, as well as managing aggregate demand and supply. The author’s objective is to show theoretical fundamentals of Phillips curve and Phillips- Okun’s model; to point out the place of this concept in leading theoretical schools – it’s genesis and numerous research related to it. keywords: curve; phillips cache: ea-173.pdf plain text: ea-173.txt item: #105 of 301 id: ea-176 author: Radović-Marković, Mirjana title: Editor’s Note date: 2017-09-29 words: 195 flesch: 65 summary: Due to his excellent contribution to Volume 1-2, The Journal’s editorial staff will continue to call periodically foreign guest editors. We expect that mentioned changes and high quality of the Journal would also improve our already not small citation rankings. keywords: journal cache: ea-176.pdf plain text: ea-176.txt item: #106 of 301 id: ea-178 author: Gavriilidis, Constantinos title: “Home Bias Puzzle”. Is It a Puzzle or Not? date: 2017-09-29 words: 3658 flesch: 46 summary: The main assumption of the model was that domestic investors are more informed about the domestic market than foreign investors. This phenomenon occurs because foreign investors do not have the same amount of information for the domestic companies as domestic investors have, and especially regarding small firms. keywords: bias; home; home bias; investors; puzzle; vol cache: ea-178.pdf plain text: ea-178.txt item: #107 of 301 id: ea-179 author: Sfaxi, Hend; Redžepagić, Srđan title: Exchange Policy and Economic Growth: Effect of the Real Effective Exchange Rate Misalignment on the Growth of Tunisia date: 2017-09-29 words: 6200 flesch: 48 summary: The multilateral exchange rates (effective nominal exchange rate and effective real exchange rate) express the value of the local currency of a country compared to the whole of the currencies of its partners (balanced according to the trade who bind the country concerned to his partners). The real effective exchange rate misalignment is being defined as the deviation of real effective exchange rate from its equilibrium level. keywords: competitiveness; economic; effect; exchange policy; exchange rate; growth; growth rate; rate misalignment; tunisia cache: ea-179.pdf plain text: ea-179.txt item: #108 of 301 id: ea-180 author: Kozarević, Emina title: Comparative Analysis of VaR Models Aplicability in the Evaluation of Exchange Rate Risk in the B&H Banking Sector date: 2017-09-29 words: 5195 flesch: 62 summary: KEY WORDS: exchange rate risk, evaluation, bootstrapping, RiskMetricsTM, Monte Carlo simulation for VaR Introduction Generally speaking, VaR model involves a combination of financial theory, mathematics and logic to ʺmotivateʺ VaR measure as an algorithm by which portfolio’s VaR is calculated. Review of long foreign exchange positions Currency keywords: bam; exchange; model; portfolio; positions; risk; var cache: ea-180.pdf plain text: ea-180.txt item: #109 of 301 id: ea-181 author: Rovčanin, Adnan; Nuhić, Minela; Mrkonja, Jasmina title: Analysis of Profitability in the Banking Sector of the Federation of Bosnia & Herzegovina date: 2017-09-29 words: 6499 flesch: 58 summary: Hypo banka 0,75% 6,09% 8,55% 4,42% 9,52% UniCredit 26,28% 8,46% 15,54% 16,79% 16,74% HVB CPB -32,38% -0,24% 6,07% 13,70% 11,68% UPI Banka 12,16% 11,62% 9,21% 2,03% 1,91% Other banks 3,31% 1,37% 4,21% 3,01% 3,47% Banking sector 10,08% 6,89% 7,83% 10,82% 12,19% Benchmarking 12-18% Source: Condensed reports of external auditors on financial statements of banks in Federation of Bosnia and Herzegovina in 2003- 2007), FBA, www.fba.ba. Hypo banka 0,07% 0,68% 0,87% 0,43% 0,77% UniCredit 2,41% 0,67 keywords: analysis; assets; banking; banks; bosnia; fb&h; federation; herzegovina; profitability; sector cache: ea-181.pdf plain text: ea-181.txt item: #110 of 301 id: ea-183 author: Balaban, Mladenka; Simeunović, Ivana; Marković, Miljka title: Relevance of the Insurance Organizations on the Financial Market date: 2017-09-29 words: 4889 flesch: 41 summary: Investment market limits (%) in the US and EU Type of insurance Limit in the US Limit in the EU Life insurance Currency market – up to 10% Capital market – up to 80% Other markets – up to 10% Currency market – up to 5% State bond market – up to 80% Other markets – up to 15% Insurance of assets Currency market – up to 30% Capital market – up to 60% Other markets – up to 10% Currency market – up to 10% State bond market – up to 60% Other markets – up to 30% Health insurance Currency market – up to 40% Capital market – up to 30% Other markets – up to 30% Currency market – up to 0% State bond market – up to 90% Other markets – up to 10% Pension insurance Currency market – up to 20% Capital market – up to 70% Other markets – up to 10% Currency market – up to 0% State bond market – up to 80% Other markets – up to 20% Source: World Bank Economic Analysis (2010, Vol. 43, No. 3-4, 59-69) 66 Models and patterns of insurance organizations investments are, by default, limited and conditioned with the character of their obligations, i.e. passive structure. Almost 90% of overall investments are covered with these three types of insurance investments worldwide. keywords: bonds; capital; insurance; investment; market; means; organizations; paper; risk cache: ea-183.pdf plain text: ea-183.txt item: #111 of 301 id: ea-184 author: Delić, Alisa; Nuhanović, Senija title: The Organizational Structure and Organizational Culture Interdependence Analysis with a Special Reference to Bosnian and Herzegovinian Enterprises date: 2017-09-29 words: 7301 flesch: 33 summary: JEL: L21 ABSTRACT – The aim of this paper is to point to the very nature of the relationship between the organizational structure and organizational culture as very important mechanisms by means of which enterprises set their employeesʹ behavior on the target course, or direct their efforts at accomplishing organizational goals, respectively. Besides the examination of the phenomenon of the organizational structure and organizational culture at the general level, the paper also includes the analysis of empirical study results entailing Bosnian enterprises. keywords: behavior; culture; employees; enterprises; form; level; management; organization; power; research; results; structure; types; vol cache: ea-184.pdf plain text: ea-184.txt item: #112 of 301 id: ea-185 author: Simandan, Dragos title: Cognitive Microfoundations for the Economics of Nonrival Goods date: 2017-09-29 words: 5126 flesch: 53 summary: The evolution of human intelligence and the coefficient of additive genetic variance in human brain size. This paper shows that the economics of nonrival goods cannot be fully comprehended without taking into account the role of intelligence differences among economic agents. keywords: countries; differences; economic; education; human; ideas; innovation; intelligence; romer; simandan cache: ea-185.pdf plain text: ea-185.txt item: #113 of 301 id: ea-189 author: Duduković, Sanja S. title: A New Approach to Causality Testing date: 2017-09-29 words: 3674 flesch: 54 summary: Table 3. HOC test results    Dependent Variable: RESGDP Method:HOS Included observations: 108 after adjustments Variable Coefficient Std.  Actually, Wiener was the first to state a causality definition by suggesting that  Xt  is causal  to Yt  if Xt  reduces  the  mean square  prediction error  of  Yt. Granger explored  Wienerʹs definition further. keywords: causality; gdp; spread; term; test cache: ea-189.pdf plain text: ea-189.txt item: #114 of 301 id: ea-191 author: Le Texier, Thomas; Maher, Gordah title: Peer-to-peer Networks and Complementary Goods: The Impact of Openness and Innovation on Profitable Piracy date: 2017-09-29 words: 10537 flesch: 57 summary: h l U x p p U x p c U α β γ ∅ = − − − = − − − − = ⎧ ⎪ ⎨ ⎪ ⎩            ,  [ ]0;1x ∈                                                            (1)   − − − − = ⎧ ⎪ ⎨ ⎪ ⎩        ,  [ ]0;1x ∈                                       ( )1   2x   defines  the  level  of  intrinsic  preference  for  digital  goods  for  which  adopters  indifferently choose between official technological adoption ( ' 'O H+ ) or pirate technological  adoption ( ' P H+ ).  keywords: digital; file‐sharing; goods; hardware; networks; official; peer‐to‐peer cache: ea-191.pdf plain text: ea-191.txt item: #115 of 301 id: ea-192 author: Barjaktarović, Miljana; Karić, Dušica; Zečević, Radoje title: Currency Options in Function of Currency Risk Hedging and Speculating date: 2017-09-29 words: 3967 flesch: 60 summary: Currency put options  The owner of a currency put option receives the right to sell a currency at a specified  price (the strike price) within a specified period of time.  for purchasers of BP call options -0.03 -0.02 -0.01 0 0.01 0.02 0.03 0.04 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00 future spot rate ne t p ro fit p er u ni t     At any rate above this point, the gain from exrcising the option would more than offset  the premium, resulting in a positive net gain. keywords: currency; option; price; rate; spot cache: ea-192.pdf plain text: ea-192.txt item: #116 of 301 id: ea-193 author: Peštek, Almir; Lalović, Anđela title: Impact of Electronic Customer Relationship Management (e-CRM) on Efficiency of Rent-a-Car Sector in Bosnia and Herzegovina date: 2017-09-29 words: 5180 flesch: 42 summary: In this structure, agencies that have up to 10  employees are predominant.  There is a large discrepancy between agencies working under  franchise and domestic agencies regarding  the number of vehicles  in  their  fleet. keywords: agencies; customers; data; e‐crm; rent‐a‐car; system; use cache: ea-193.pdf plain text: ea-193.txt item: #117 of 301 id: ea-194 author: Omalaja, M.A.; Eruola, O.A. title: Strategic Management Theory: Concepts, Analysis and Critiques in Relation to Corporate Competitive Advantage from the Resource-based Philosophy date: 2017-09-29 words: 8890 flesch: 41 summary: These  are  analyzes  of  the  company’s weaknesses and strengths in terms of marketing capability, personnel  capability,  etc.  these  are  mainly  internal  analysis,  which  seeks  to  establish  the  “how”  of  taking  advantages  of  the  opportunities  available,  and  secondly  to  address how to overcome or correct the weaknesses manifested too.  A way out of this  circularity  is  to  see  the  relationship  between  resources  and  advantage  as  a  longitudinal  process (Porter, 1991; cited in Fahy, 2000). keywords: advantage; business; firm; journal; knowledge; management; organization; performance; resources; strategy; theories; theory; vol cache: ea-194.pdf plain text: ea-194.txt item: #118 of 301 id: ea-195 author: Baldin, Claire title: Precision Cotton Agriculture and Strategic Commercial Policies: An Analysis in Terms of Duopoly by Quality date: 2017-09-29 words: 8847 flesch: 58 summary: After the resolution of the equation system (10), we obtain a balance of US and CWA  “fibre qualities” which are noted respectively * , pEq and qA, p * such as:  qE, p * = 1 2t p − qE,e( ) qA, p * = 1 2 p 1+ 1 2t ⎛ ⎝⎜ ⎞ ⎠⎟ + qE,e 1− 1 2t ⎛ ⎝⎜ ⎞ ⎠⎟ − q − t ⎡ ⎣ ⎢ ⎤ ⎦ ⎥ ⎧ ⎨ ⎪⎪ ⎩ ⎪ ⎪ 11.a 11.b            (11)  We notice, as previously  for relation  (7),  that  the “fibre quality”  level of CWA cotton  depends negatively on  t. The utility of  the consumer  preferring “fibre quality”  improves  particularly as t decreases like CWA profits which depend positively on  qA, p * .  We can also see that a variation of t can minimise the anticipated effects on the qualities of US cotton that result from the adoption of PA. keywords: cotton; cwa; quality cache: ea-195.pdf plain text: ea-195.txt item: #119 of 301 id: ea-199 author: Erić, Dejan title: Reviewing form for trilogy of National Center for European and global studies of Slovak Republic date: 2017-09-29 words: 523 flesch: 40 summary: Authors discuses need for new post‐crisis model of socio‐ economic  development  in  Slovakia,  as  well  as  other  questions,  like  –  social  justice  and  development, seeking a new civilization paradigm, the economic knowledge creation in the  global knowledge‐based society,  trends  in  territorial development  in Slovakia,  intellectual  security on Slovakia, culture and a regional develpment factor and so many other questions.  There  are  a lot  of  good  contributions  such  as  innovative  incentives  to  accelerate  the  development  of  Slovak  economy,  synergy  of  creativity, invention and innovation, economic funds and their potential for a socio‐economic  development in Slovakia, etc. Some authors tried to analyze foreign experience, such as in  Nordic  countries,  Denmark,  Visegrad  countries  and  the  others.  keywords: development; slovak cache: ea-199.pdf plain text: ea-199.txt item: #120 of 301 id: ea-201 author: Jaško, Ana title: Serbia and the European Union: economic lessons from the new member states edited by Mirjana Radović-Marković, Srđan Redžepagić, et al. date: 2017-09-29 words: 1690 flesch: 40 summary: The  development of agriculture should become a corner stone of a general policy of development  in Serbia and should be allocated far larger financial assets from the budget compared to the  previous period.  The “Serbia and the European Union: Economics Lessons from  the  New  Member  States“  proceedings    is  a  result  of  the  cooperation between the Institute of Economic Sciences and the  Belgrade Banking Academy and  the Faculty of Economics of  the University of Coimbra. keywords: countries; development; european; serbia cache: ea-201.pdf plain text: ea-201.txt item: #121 of 301 id: ea-204 author: Radović Marković, Mirjana title: Notes from the Editor‐in‐Chief The date: 2017-09-29 words: 192 flesch: 13 summary: Microsoft Word - 2011_3_4_finalna ver.doc         Notes from the Editor‐in‐Chief          The Journal  is published  twice a year  in  issues that contain peer  articles and book reviews spanning all of the following subject areas  such  as  unemployment,  inflation,  economic  underdevelopment,  globalisation and international economic integration, finance, changing  forms and boundaries of markets and planning, organization culture  and behavior ,management,  transformation of industrial organizations  and economic systems, experimental studies in economics and uneven  development and instability in the world economy.  In addition, the Journal covers environmental and  ecological  issues,  economic  stabilization,  labor  relations, monetary management and   other  topics  within the discipline of economics. keywords: journal cache: ea-204.pdf plain text: ea-204.txt item: #122 of 301 id: ea-205 author: Youssef Adel, Ben; Letexier, Thomas; Ludovic, Ragni title: Bridging the Learning Gap in the Marketfor Higher Education: E‐learning and Public Subsidies date: 2017-09-29 words: 13992 flesch: 48 summary: The  last statement  is valid especially  if  the domicile market  is not sufficiently  large  for profitable  production or if it is under‐developed    KEY  WORDS:  information  systems,  market,  marketing,  information,  marketing  research,  international environment  Characteristics of international marketing information system  Definition of international marketing information system  It is not an easy task to give a comprehensive and complete definition of international  marketing information system (IMIS), which would be easily understood at the same time.  Affirmation of systematic approach in marketing has led that a trends in marketing research,  method and decision making oriented, connect with each other, simultaneously providing  the missing link ‐ organization of the whole range of marketing information in relation to the  needs of marketing managers for information. keywords: analysis; company; data; education; environment; imis; information; learning; level; marketing; organization; programs; quality; research; services; subsidies; system; vol cache: ea-205.pdf plain text: ea-205.txt item: #123 of 301 id: ea-206 author: Hong, Chen; Yuan, Yuan title: An Empirical Study on the International Competitiveness of Chinese Commercial Banks date: 2017-09-29 words: 8308 flesch: 47 summary: According  to  the  requirement  that  the  cumulative  contribution  of  factors  shall be more  than 85%  ,  take  the  first m eigenvalues and corresponding eigenvectors  to  build the factor loading matrix:  11 1 111 1 21 2 21 1 2 1 1 1 m mm m m m p pm p pm m u ua a a a u u A a a u u λ λ λ λ λ λ ⎛ ⎞⎛ ⎞ ⎜ ⎟⎜ ⎟ ⎜ ⎟⎜ ⎟= = ⎜ ⎟⎜ ⎟ ⎜ ⎟⎜ ⎟⎜ ⎟ ⎜ ⎟⎝ ⎠ ⎝ ⎠ K K M M M M   (4) Calculate the cumulative contribution of m factors  The ability of each common factor to explain the original data can be measured by the  total variance it explains, that is the proportion of variance it explains to the total variance of  all  variables,  often  referred  to  as  contribution  of  factor.  Emesto  Sehargrodsky  (2000)  considered  from  the  perspective  of  banking  supervision  that  the  raise  of  the  regulatory  requirements  is  not  good  for  the  differential operation of banks but the dynamic of competition will be increased. keywords: analysis; banking; banks; causality; china; commercial; competitiveness; development; factor; lnbc; ratio; table; test cache: ea-206.pdf plain text: ea-206.txt item: #124 of 301 id: ea-207 author: Behname, Mehdi title: Studying the Effect of Foreign Direct Investment on Economic Growth in Greater and   Traditional Middle East Countries  date: 2017-09-29 words: 3522 flesch: 50 summary: Effects of technology gap and inflation on FDI attraction are negative, meaning the investors  select  those  countries  for  investment  which  have  higher  technologies  and  more  stable  economy.  Since we consider the model to be endogenous, the following equation indicates the  effect of growth on FDI:  itititititit XHUMFDIYFDI μααααα +++++= − 432110         (5)  Results and data  Data  The data set includes 21 countries of Greater and Traditional Middle East throughout the  period 1980‐2008.   keywords: capital; countries; fdi; gdp; growth; investment; technology; variables cache: ea-207.pdf plain text: ea-207.txt item: #125 of 301 id: ea-208 author: Rovčanin, Adnan; Nuhić, Minela; Sejdić, Amila title: Optional Approach for Investment Projects Valuation and It’s Appliance to the Project of Producing Healthy Organic Food date: 2017-09-29 words: 5528 flesch: 46 summary: In the case that binomial tree has only two time intervals, initial price of related asset       Rovčanin, A., et al., Optional Approach, EA (2011, Vol. 45, No, 3‐4, 44‐58)   49 C Cu Cd Cu Cud  Cdd  S  Su  Sd  Sud Sdd S will match the value of call option C. After the first time interval, expected prices of related  assets are Su i Sd with corresponding values of call and put options Cd i Cu, and Xu i Xd.     Figure 2. Multiperiodic binomial model – price of related asssets and value of  call option    Possible price of related assets, after the second interval, are: Suu and Sud, which are  achievable in the case that after the first interval price of related assets has grown, and Sdu  and Sdd, which are achievable in the case that the price of related assets after the first interval  has fallen, and corresponding values of option are Cuu, Cud, Cdu and Cdd.  However,  in practice, assets do pay dividends, options  sometimes get exercised early and exercising option can affect the value of the underlying  asset. keywords: binomial; black‐scholes; model; option; price; project; stock; value cache: ea-208.pdf plain text: ea-208.txt item: #126 of 301 id: ea-209 author: Vukmirović, Nikola title: Tax Incentives as a Stimulant of R&D Activities in Enterprises with the Special Review on Their Accounting Framework in B&H date: 2017-09-29 words: 4858 flesch: 39 summary: That  is actually a fiscal  relief of employer by reduction of the amount of tax and contributions on R&D wages.  In  incremental form of R&D tax scheme, reduced amount of tax liability will depend on the  nominal change in the cost of R&D, in comparison to the base level of costs in a base period.  keywords: activities; costs; enterprises; incentives; r&d; research; system; tax cache: ea-209.pdf plain text: ea-209.txt item: #127 of 301 id: ea-210 author: Stanetić, Vedran title: General Characteristics, Role and Importance of International Marketing Information System date: 2017-09-29 words: 5887 flesch: 37 summary: The  last statement  is valid especially  if  the domicile market  is not sufficiently  large  for profitable  production or if it is under‐developed    KEY  WORDS:  information  systems,  market,  marketing,  information,  marketing  research,  international environment  Characteristics of international marketing information system  Definition of international marketing information system  It is not an easy task to give a comprehensive and complete definition of international  marketing information system (IMIS), which would be easily understood at the same time.  Affirmation of systematic approach in marketing has led that a trends in marketing research,  method and decision making oriented, connect with each other, simultaneously providing  the missing link ‐ organization of the whole range of marketing information in relation to the  needs of marketing managers for information. keywords: company; data; environment; imis; information; marketing; research; system cache: ea-210.pdf plain text: ea-210.txt item: #128 of 301 id: ea-211 author: Đukić, Mihajlo; Milivojević, Saša title: Organizational behaviour and culture: globalization and the changing environment of organizations, edited by Professor Mirjana Radović-Marković date: 2017-09-29 words: 1949 flesch: 32 summary: In  this  review  we  introduced  a  book  „Organizational  Behaviour  and  Culture:  Globalization  and  the  Changing  Environment  of  Organizations“,  published  by  VDM  Verlag  Dr.  Müller e.K ,Germany, in July 2011.   Her intention  as a book editor was  to explore the organization behavior, culture  and strategies relating to effective organizational and managerial performance.  keywords: book; business; communication; culture cache: ea-211.pdf plain text: ea-211.txt item: #129 of 301 id: ea-212 author: Radović Marković, Mirjana title: Notes from the Editor-in-Chief date: 2017-09-29 words: 175 flesch: 48 summary: ea_2012_1_2 Notes from the Editor-in-Chief Economic Analysis (EA) publishes original research papers, case studies, conference papers, book reviews and other peer papers. The spring issue is an exploration into the nature of sustainable development under impact of the crisis, green growth as a generator for overcoming the crisis and environmental taxation as a tool for sustainable development. keywords: papers cache: ea-212.pdf plain text: ea-212.txt item: #130 of 301 id: ea-213 author: Đukić, Petar title: Sustainable Development Under Impact of the Crisis – Global and National Dimensions date: 2017-09-29 words: 8469 flesch: 43 summary: KEY WORDS: global economic crisis, sustainable development, economic sustainability, priority of development goals, employment, green economics, energy efficiency, social inclusion * Visualization of the sustainable development by graphic model depicting overlapping of spheres, i. e. sustainable goals, according (Djukic 2011c, 37) Concretization of (un)sustainability in crisis In the so-called second wave of global economic crisis, when the European Union definitely remains in deep recession, in an attempt to save what can be saved (euro, and confidence in the common monetary system and economic community in general), and even China was forced to reduce the growth rate at about 7.5 percent, it could be even discussed about the positive potential of the creation of a new sustainable system of functioning economy and society during the crisis. keywords: analysis; belgrade; countries; crisis; development; economic; economy; energy; environmental; growth; national; new; percent; serbia; social; sustainability; system; vol; world cache: ea-213.pdf plain text: ea-213.txt item: #131 of 301 id: ea-214 author: Jovanović Gavrilović, Biljana; Minić, Natalija title: Green Growth as a Generator for Overcoming the Crisis date: 2017-09-29 words: 6669 flesch: 47 summary: The countries that signed the Declaration agreed to encourage green investment and sustainable management of natural resources; to encourage domestic policy reform with the aim of avoiding or abandoning environmentally harmful policies that might thwart green growth, such as subsidies to fossil fuel consumption or production that increases greenhouse gas emissions, subsidies that encourage unsustainable use of other scarce natural resources or contribute to negative environmental outcomes; to work towards establishing appropriate regulations and policies to ensure clear and long-term price signals encouraging efficient environmental outcomes; to ensure close coordination of green growth measures with labor market and human capital formation policies in order to support the development of green jobs and the skills needed for them. In such circumstances, the idea of green growth, based on the belief that economic growth and care for the environment go hand in hand, is being reaffirmed. keywords: countries; development; economy; energy; environmental; european; green; growth; investment; oecd; resources; serbia; world cache: ea-214.pdf plain text: ea-214.txt item: #132 of 301 id: ea-216 author: Munitlak Ivanović, Olja; Golušin, Mirjana title: Environmental Taxation as a Tool for Sustainable Development Policy-State Comparison of Serbia and Application of Ecological Taxation Reform in European Union date: 2017-09-29 words: 5618 flesch: 43 summary: Some countries that have been concerned about the impact—either economic or political—of high taxes on labour income, have used environmental tax revenues to reduce tax rates on labour incomes. Methodology The subject of the analysis is determination of environmental tax revenue in the countries members in the European Union, and monitoring of revenues based on ecological taxation. keywords: compensation; countries; development; energy; environment; instruments; protection; reform; revenues; serbia; table; taxation; taxes; vol cache: ea-216.pdf plain text: ea-216.txt item: #133 of 301 id: ea-217 author: Momirović, Dragan; Zdravković, Dragan title: Macro-prudential View of Financial Stability date: 2017-09-29 words: 6058 flesch: 35 summary: The balance between different objectives macro-prudential policy will depend, in any case, the focus of policy makers on the overall market or individual institutions. The first part indicates the origin and evolution of the term macro-prudential in the second part discusses different approaches to defining macro-prudential, the third part deals with a number of definitions of systemic risk on the basis of which is determined by a key objective macro-prudential from which they derive, and other intermediate goals in the fourth explains the macro-prudential indicators used for assessing the vulnerability of the financial system and is mainly related to the health of individual institutions and the macroeconomic variables, in the fifth points to a wide array of instruments that can be used for amortization of systemic risk, with the aim of adapting existing macro-prudential tools toward the development of prudential standards and to mitigate the negative tendencies that can produce systematic risk, in the sixth discusses macro-prudential tools that can be used for monitoring with special emphasis on improving the resilience of the financial system from the impact of externalities, and amortization of pro-cyclical trend of market participants, in the seventh based on the reference frame IMF considers macro-prudential analysis with special reference to its role in the timely identification of factors that endanger or likely to cause financial instability, and then the crisis. keywords: 2010; analysis; indicators; institutions; instruments; international; macro; market; prudential; report; risk; stability; system; term; tools cache: ea-217.pdf plain text: ea-217.txt item: #134 of 301 id: ea-218 author: Stošić, Ivan; Nikolić, Draško; Zdravković, Aleksandar title: PEST Analysis of Serbia date: 2017-09-29 words: 6273 flesch: 43 summary: In terms of foreign trade liberalization Serbia takes 79th position (one lower than year before), but since 2007 no significant reforms have been registered in this area; • Processes of business terminations and the companies shut down still take too long and cost too much. The high level of corruption Political influences in governing state-owned enterprises E - Economic environment A satisfactory level of macro-economic stability Turbulent business environment The increased interest of foreign investors Recession risk The development of agriculture, energy, infrastructure Slow and incomplete structural reforms Reindustrialization of Serbia The high budget deficit and its financing Encouraging entrepreneurship and SMEs The level of public spending 6 Ministry of Finance, Republic of Serbia, 2011a. keywords: analysis; average; business; changes; countries; economic; environment; impact; macro; millions; pest; serbia; usd cache: ea-218.pdf plain text: ea-218.txt item: #135 of 301 id: ea-219 author: Behname, Mehdi title: Foreign Direct Investment and Political Risk in Pacific Rim date: 2017-09-29 words: 2716 flesch: 53 summary: ea_2012_1_2 ORIGINAL SCIENTIFIC PAPER Foreign Direct Investment and Political Risk in Pacific Rim Behname Mehdi*, Department of Economics of Ferdowsi University of Mashhad (FUM), Mashhad, Iran UDC: 339.727.22 JEL: F21; F23; C31; C33 ABSTRACT – The main purpose of this article is to study the effect of political risk on foreign direct investment in the Pacific Rim. In this study, 12 indexes of political risk offered by Political Risk Services Group have been used. keywords: countries; effect; fdi; investment; risk; test; variables cache: ea-219.pdf plain text: ea-219.txt item: #136 of 301 id: ea-237 author: Radović-Marković, Mirjana title: Notes from the Editor-in-Chief date: 2017-10-02 words: 121 flesch: 44 summary: The potential spectrum of topics is broad including economic development, green economics, employment and education policy, labor issues, business governance and ethics, management of human resources, marketing, microeconomics, monetary and financial economics and other topics. In other words, it connects economics to real-world experiences. keywords: economics cache: ea-237.pdf plain text: ea-237.txt item: #137 of 301 id: ea-238 author: Malović, Marko title: Halfway Between the Midterm and the Finals: a Crash-course in Development Policy for Serbian Leaders date: 2017-10-02 words: 6434 flesch: 37 summary: KEY WORDS: economic development, economic growth, institutions, sequencing of reforms, human development index, transition, development fables, Serbia Introduction For at least half a century or so, Serbia doesn’t have consistent, if any, let alone coherent economic development policy. One dimension is deciphering components of economic development in a small open economy like Serbia’s as distinct from- yet inclusive of economic growth and its determinants, the other is a string of development fables (deeply rooted in minds of Serbian policy-makers so far) which have been proved erroneous or at least ambiguous on either theoretical or empirical grounds, but evidently still deserve one last round of debunking. keywords: barro; capital; determinants; development; economic; economies; economy; fdi; growth; human; institutions; investment; policy; rodrik; serbia; trade; transition; vol cache: ea-238.pdf plain text: ea-238.txt item: #138 of 301 id: ea-239 author: Živanović, Branko; Jolović, Ana title: The Evolution of Serbian Forex Through NBS FX Swaps date: 2017-10-02 words: 7018 flesch: 60 summary: Determinants of NBS FX swaps The National Bank of Serbia introduced FX swaps with the aim of stabilizing the domestic FX market and minimizing RSD volatility. The introduction of NBS FX swaps is a positive move in the development of the Serbian FX market. keywords: bank; central; currency; depreciation; eur; exchange; fx swaps; market; national; nbs; rate; swap; usd cache: ea-239.pdf plain text: ea-239.txt item: #139 of 301 id: ea-240 author: Ivković, Dragan; Čukanović Karavidić, Marija; Vujićić, Slađana title: Small and Medium-Sized Enterprises as a Factor of Serbian Economy date: 2017-10-02 words: 5379 flesch: 42 summary: Economic Analysis (2012, Vol. 45, No. 3-4, 31-45) 36 Graph 2. Conditions for business improvement in Serbia Source: Status, needs and problems of small and medium- sized enterprises in Serbia 2010, National Agency for Regional Development, Belgrade, 2010 Surveyed companies stated lack of favorable sources of funding and unfavorable legal environment as obstacles to business development. One of the ways to increase effectiveness of business and efficiency of small and medium enterprises, and thus their competitiveness and the competitiveness of the overall economy, is stimulating the development of business incubators. keywords: 2011; agency; business; companies; development; dinars; economy; enterprises; number; serbia cache: ea-240.pdf plain text: ea-240.txt item: #140 of 301 id: ea-241 author: Sheremet, Evgeny title: Public Debt Geography date: 2017-10-02 words: 6207 flesch: 58 summary: Russia, thanks to action taken in the 2000s., Today holds 123th place with 9% of public debt to GDP ratio and the absolute value of government debt does not exceed $ 36 billion. People’s Republic of China Paradoxically, another threat to the global economy lies in China, despite the fact that the level of public debt remains at quite a reasonable level of $ 428.4Bn for such a huge Economy, and the ratio of government debt to GDP ratio of is 35% only. keywords: countries; crisis; debt; economy; european; gdp; government; policy; rate; ratio; u.s; world cache: ea-241.pdf plain text: ea-241.txt item: #141 of 301 id: ea-242 author: Shahzad, Khan title: Determinants of Brand Equity and Its Causes & Consequences A Study of Automobiles Oil from Peshawar Region Pakistan date: 2017-10-02 words: 2589 flesch: 60 summary: ea_2012_3-4 ORIGINAL SCIENTIFIC PAPER Determinants of Brand Equity and Its Causes & Consequences A Study of Automobiles Oil from Peshawar Region Pakistan Shahzad Khan*, University of Science & I-T, Peshawar Pakistan UDC: 005.936.43 ; 658.626 JEL: M32 ID: 195855116 ABSTRACT – The word brand equity is known to every marketer and they wish that they have positive brand equity for their brands. Findings and results of the study shows that brand loyalty and brand familiarity has more influence on brand equity in case of automobile oil in Peshawar Pakistan KEY WORDS: brand equity, brand awareness, brand familiarity, brand image, brand association, Brand loyalty, brand preferences and brand availability Introduction Positive Brand equity is the critical success factor for any company for long term survival and enjoying tremendous profit. keywords: brand; brand equity; equity; familiarity; image; loyalty; relationship; variables cache: ea-242.pdf plain text: ea-242.txt item: #142 of 301 id: ea-243 author: Soleimani, Sheida; Behname, Mehdi title: Foreign Direct Investment and Economic Growth: Evidence from Asian Selected Countries date: 2017-10-02 words: 3071 flesch: 61 summary: The results of FDI effect on growth indicate that FDI has significant and positive effect on economic growth in Asia region. ea_2012_3-4 ORIGINAL SCIENTIFIC PAPER Foreign Direct Investment and Economic Growth: Evidence from Asian Selected Countries Soleimani Sheida*, Department of Economics of Shiraz University, Iran Behname Mehdi**, Department of Economics of Ferdowsi University of Mashhad (FUM), Mashhad, Iran UDC: 339.727.22(5)1980/2010 ; 338.1(5) JEL: F21, F43 ID: 195856140 ABSTRACT – The purpose of this paper is to investigate the influence of foreign direct investment (FDI) on economic growth in Asian countries for the years 1980-2010. keywords: capital; countries; effect; fdi; growth; investment; level; variables cache: ea-243.pdf plain text: ea-243.txt item: #143 of 301 id: ea-244 author: Radović-Marković, Mirjana title: Notes from the Editor-in-Chief date: 2017-10-02 words: 162 flesch: 39 summary: In line with this, we invite you to send us scientifically based Research Papers, Case Studies and Book Reviews in business economics, entrepreneurship, education, finance, employment, marketing and other scientific disciplines. I thank all our members of the editorial board and advisory board and reviewers for their continued support and encouragement. keywords: papers cache: ea-244.pdf plain text: ea-244.txt item: #144 of 301 id: ea-245 author: Minović, Jelena; Vuković, Vlastimir title: Analysis of the Serbian Capital Market date: 2017-10-02 words: 4682 flesch: 56 summary: KEY WORDS: capital market, frontier market, turnover, GDP, BELEX indices, liquidity Introduction Serbian capital market is by its characteristics categorized into the group of frontier markets (Spiedell, 2011), which is specially investigated. “What is actually capital market in Serbia?”, Economic Growth and Development of Serbia New Model, pp. keywords: 2010; 2011; analysis; capital; capital market; crisis; economic; frontier; market; minović; serbia; stock; turnover cache: ea-245.pdf plain text: ea-245.txt item: #145 of 301 id: ea-247 author: Stevanović, Slavica; Belopavlović, Grozdana; Lazarević-Moravčević, Marija title: Creative Cash Flow Reporting – the Motivation and Opportunities date: 2017-10-02 words: 6164 flesch: 36 summary: There are situations when the high presented net cash flow from operating activities does not prove the quality of operating income, but the inclination of the company’s management to manage net cash flows from operations. Comparing the amount and net income trends with net cash flow may indicate the presence of irregularities and creative financial reporting. keywords: accounting; activities; assets; cash; cash flow; company; flows; information; investing; management; operating; reporting cache: ea-247.pdf plain text: ea-247.txt item: #146 of 301 id: ea-248 author: Knežević, Marija title: Operational Risk – Challenges for Banking Industry date: 2017-10-02 words: 5563 flesch: 44 summary: KEY WORDS: operational risk, Basel regulation, banking sector, operational risk factors, operational risk events, internal processes, frauds, human errors. People (human factor) can produce operational risk events through unintentional errors during work, criminal activities, insufficient training or number of employees, and bad management. keywords: banking; banks; basel; business; clients; events; hazard; losses; management; number; order; processes; risk cache: ea-248.pdf plain text: ea-248.txt item: #147 of 301 id: ea-249 author: Ivandić, Vladimira; Kandžija, Vinko; Kandžija, Jelena title: Absorption Capacity of European Union Pre-accession Programs in Croatia date: 2017-10-02 words: 8227 flesch: 42 summary: KEYWORDS: absorption capacity of financial assistance, EU pre-accession programs, municipalities, multilevel governance Introduction The absorption capacity (AC) of European Union (EU) financial assistance is a pertinent topic, particularly in light of Croatia’s imminent membership in the EU. The purpose of this article is to analyse the factors / determinants of absorption capacity, and the implementation of pre-accession programs in Croatian municipalities. keywords: absorption capacity; accession; aid; analysis; assistance; croatia; eu funds; factors; funds; implementation; level; model; municipalities; national; policy; programs cache: ea-249.pdf plain text: ea-249.txt item: #148 of 301 id: ea-250 author: Batishcheva, Svetlana title: World Urbanization Prospects and the Problem of Its Infrastructural Provision date: 2017-10-02 words: 4732 flesch: 43 summary: Regional features of urbanization processes We must consider some regional peculiarities of urbanization and pursue condition of urban infrastructure as urbanization consequence. Today we can observe significant imbalances in the territorial and economic development of the countries of the former Soviet Union, including urban infrastructure. keywords: cities; city; countries; development; global; growth; infrastructure; investment; population; projects; urbanization; world cache: ea-250.pdf plain text: ea-250.txt item: #149 of 301 id: ea-251 author: Radović-Marković, Mirjana title: Notes from the Editor-in-Chief date: 2017-10-02 words: 241 flesch: 41 summary: Editor-in-Chief Professor Dr. Mirjana Radović-Marković, academician World Academy of Arts and Sciences, United States Academia Europaea, London, United Kingdom Royal Society of Arts, London, United Kingdom Euro Mediterranean Academy of Arts and Sciences, Athens, Greece Bulgarian Academy of Sciences and Arts, Sofia, Bulgaria Serbian Royal Academy of Science and Arts, Belgrade, Serbia (vice-president) ea_2013_3-4 finalna ver Notes from the Editor-in-Chief This issue of Economic Analysis is a special edition comes on the occasion of fifty-five years since the founding of the Institute of Economic Sciences, which is the publisher of this peer Journal. keywords: arts cache: ea-251.pdf plain text: ea-251.txt item: #150 of 301 id: ea-252 author: Plchová, Božena; Baranenko, Elena title: Reforms of the IMF in the Context of the Global Financial Crisis date: 2017-10-02 words: 5474 flesch: 44 summary: The current financial crisis and IMF activities In the framework of dealing with the crisis, the Fund during the last 5 years has intensified activities in many areas and carried out a series of reformist steps in order to meet the needs of member countries and also contribute to the stabilization of the world economy. „Strengthening IMF Surveillance: A Comprehensive Proposal”, Policy Brief, 10-29, http://www.iie.com/publications/pb/pb10-29.pdf. keywords: analysis; board; countries; crisis; economic; financial; fund; imf; international; member; order; stability; surveillance; years cache: ea-252.pdf plain text: ea-252.txt item: #151 of 301 id: ea-253 author: Balaban, Mladenka; Župljanin, Slobodan; Andrejević, Irena title: Global Financial Crisis and Its Effects on European Financial System date: 2017-10-02 words: 5392 flesch: 52 summary: Basic factor of financial crises: • The leaders of the fifteen European countries and the UK government have met 12 October 2008 to agree on a common strategy that will take to go from financial crisis. keywords: banking; banks; countries; crisis; economic; european; euros; growth; interest; market; rates; sector; serbia cache: ea-253.pdf plain text: ea-253.txt item: #152 of 301 id: ea-254 author: Maldonado Francisco Javier, Benita title: Inflation, Market Structure and Globalization. A Sectoral Study for Mexico date: 2017-10-02 words: 4789 flesch: 48 summary: From the figure it is seen a homogeneous process of inflation growth rate (around 0.11), but not on market competition and openness. Thus, central bank independence and the nature of exchange rate arrangements are not empirically important determinants of inflation rates; Fuhrer (1997) takes a critical look at the theory of inherent inflationary bias and the proposed solutions to the bias, focusing particularly on mechanisms for ensuring central bank independence and on inflation targeting. keywords: bank; central; competition; economic; effects; globalization; growth; inflation; market; openness; policy; structure; trade cache: ea-254.pdf plain text: ea-254.txt item: #153 of 301 id: ea-255 author: Tomljanović, Marko; Kandžija, Tomislav; Kandžija, Jelena title: Convergence Instruments of Western Balkan Countries date: 2017-10-02 words: 4692 flesch: 44 summary: This paper aims to define basic characteristics and instruments of EU regional policy, analyze financial perspective 2014-2020 and to show the level of exploitation of the Structural Funds and pre-accession programs in new member countries, candidate countries and potential candidate countries from Western Balkan. „Focus on EU funds – Programmes, tools and goverment institutions“, seeeurope.net. keywords: cohesion; countries; development; erdf; european; funds; ipa; period; policy; regions; resources; social cache: ea-255.pdf plain text: ea-255.txt item: #154 of 301 id: ea-256 author: Alihodžić, Almir title: Possibility of Applying Regional Diversification in Capital Markets of Bosnia and Herzegovina and Republic of Serbia date: 2017-10-02 words: 8422 flesch: 53 summary: Additional diversification can have effects in terms of further reduction of portfolio risk, below the level of market risk, only if it is aimed at foreign financial markets (Zivkovic et al., 2005, pp. 427). Correlation coefficients between securities in the capital markets in the Western Balkans should be taken with some reserve because of their proven variability, since in financial crises correlation coefficients converge to the unit, benefits of diversification disappear and portfolio risk becomes simply equal to the weighted sum of individual risks of securities of which it is composed. keywords: -0.000; -0.000 -0.000; correlation; deviation; diversification; exchange; indexes; market; period; portfolio; risk; securities; share; standard; stock; yield cache: ea-256.pdf plain text: ea-256.txt item: #155 of 301 id: ea-257 author: Bradić-Martinović, Aleksandra; Ranković, Marko; Krsmanović, Svetlana title: Application of Batch and Automated (STP) Processes in Banking – Case Study Aseba BI date: 2017-10-02 words: 6308 flesch: 47 summary: With the support of Aseba BI information system banks can execute 136 orders within 3 Bradić-Martinović, A., et al., Case Study Aseba BI, EA (2013, Vol. 46, No, 3-4, 72-86) 85 minutes and that process can be handled by 1 employee. In the last decade, main progress has been made in introducing straight- through processing (STP) and batch processing in banking information systems. keywords: aseba; banking; banks; batch; case; information; order; payment; processes; processing; quality; stp; study; system cache: ea-257.pdf plain text: ea-257.txt item: #156 of 301 id: ea-258 author: Mani Pierre, Eric title: Mechanisms to Explain FDI Impacts in Less Developed Countries Growth: The Case of the Industrial Development Level in Turkey, Egypt and Morocco date: 2017-10-02 words: 9477 flesch: 51 summary: ea_2013_3-4 finalna ver ORIGINAL SCIENTIFIC PAPER Mechanisms to Explain FDI Impacts in Less Developed Countries Growth: The Case of the Industrial Development Level in Turkey, Egypt and Morocco Mani Pierre Eric1, GREDEC University of Nice-Sophia Antipolis, Nice, France UDC: 339.727.22(1-773) ; 338.121(560+620+64) JEL: F21, O14 ID: 203727116 ABSTRACT – The industrial development level proposed in this essay is the key factor to explain how Foreign Direct Investment (FDI) impact may turn from positive to negative. KEY WORDS: FDI, growth, net outward investment position, industrial development level, less developed countries Introduction What the matter with FDI impact is? keywords: case; countries; country; development; economic; fdi; growth; host; impact; investment; level; model; morocco; test; trade; turkey; variable; vol cache: ea-258.pdf plain text: ea-258.txt item: #157 of 301 id: ea-259 author: Domazet, Ivana; Stošić, Ivan title: Strengthening the Competitiveness of Serbian Economy and the Corporate Market Restructuring date: 2017-10-02 words: 7998 flesch: 42 summary: Analysis of Serbian economy competitiveness For many years, Serbian is lacking in competitiveness in the global market, which is confirmed by the report of the World Economic Forum for 2011-2012. Sources of Serbian economy competitiveness improvement Sustainable growth and development of Serbian economy that will lead to increase of economy competitiveness, must rely on the implementation of reindustrialization strategy (Djukić, 2012:1-18), while intensifying the process of business and market restructuring, bringing the new agricultural policy, including the implementation of modern irrigation systems, implementation of the adopted system framework for solving the problem of illiquidity and adjusting the level of public spending with real economy potentials. keywords: 2011; analysis; business; competitiveness; conditions; countries; development; economic; economy; efficiency; factors; growth; market; new; restructuring; serbia; world cache: ea-259.pdf plain text: ea-259.txt item: #158 of 301 id: ea-263 author: Gržinić, Jasmina; Sučić Čevra, Mirela title: Competitiveness of Croatian Destinations Through Online Marketing Indicators date: 2017-10-02 words: 6367 flesch: 48 summary: The aim of this research is to explore web site design quality factors in order to adopt web page quality to a profile of destination visitors. Average grades of web page quality of evaluated destinations No. Destination Average grade 1. keywords: average; categories; croatian; destination; grade; information; internet; level; marketing; number; online; order; page; quality; research; site; tourism; web cache: ea-263.pdf plain text: ea-263.txt item: #159 of 301 id: ea-264 author: Ognjenović, Kosovka title: How Structural Changes Affect Enterprises’ Expectations about Employment in Serbia? date: 2017-10-02 words: 5029 flesch: 45 summary: This implies that the effects of the recent global economic crisis on the performance of successful enterprises were only transitory and that they benefited from structural changes (for instance, positive cases include transformed old enterprises, new enterprises established in growing economic sectors, enterprises that produce tradable goods or services that can be sold in the international markets, etc.). Enterprises have opted for three alternatives: the first alternative means that enterprises prefer not to change the current level of employment, rather than to increase or decrease the total number of employees, which are the second and third alternatives, respectively. keywords: alternative; changes; economic; employees; employment; enterprises; estimated; labour; mnl; model; number; serbia; workers cache: ea-264.pdf plain text: ea-264.txt item: #160 of 301 id: ea-265 author: Radovanović, Bojana title: Well-Being – Resorces, Happiness and Capabilities:Theoretical Discussions and the Evidence from the Western Balkans date: 2017-10-02 words: 5856 flesch: 57 summary: Moreover, economic growth does not correspond with the high level of happiness people report. The alternatives are to focus on people’s subjective well-being, then to create certain objective measure of well-being, as the one within human development approach, or the combination of the two, as within gross national happiness concept or happy planet approach. keywords: approach; capita; countries; development; happiness; human; level; life; people; resources; western cache: ea-265.pdf plain text: ea-265.txt item: #161 of 301 id: ea-280 author: Radović-Marković, Mirjana title: Notes from the Editor-in-Chief date: 2017-10-03 words: 164 flesch: 47 summary: Moreover, there is also the place in the Journal for quality theoretical papers as well, reviews of the latest publications of national and international significance and scientific critiques and discussions. ea_2014_1-2 Notes from the Editor-in-Chief The last five years, Economic Analysis has attracted an international readership that is primarily academic. keywords: papers cache: ea-280.pdf plain text: ea-280.txt item: #162 of 301 id: ea-281 author: Simović, Vladimir; Ranković, Marko title: The Conceptual Model of the Credit Information Exchange System in Global Terms date: 2017-10-03 words: 6664 flesch: 32 summary: KEY WORDS: credit information exchange, international standards, credit bureau, model Introduction The contemporary business environment in which creditors exchange information about credit line users, features the existence of a large number of credit bureau models and the lack of standardization of their business processes. (2007) show that the effectiveness of different systems for the exchange of credit information varies between countries, depending on the degree of economic development. Luoto, et al. keywords: bureaus; credit; credit bureau; credit information; creditors; information exchange; level; model; national; system; terms cache: ea-281.pdf plain text: ea-281.txt item: #163 of 301 id: ea-282 author: Musabegović, Ismail; Raičević, Ivana; Majstorović, Andrea title: Credit Rating As a Factor of Stability in the Global Capital Market date: 2017-10-03 words: 5838 flesch: 52 summary: Although Serbia has introduced a new Act about credit rating agencies and defined policies under which they can be established, it is very unlikely to expect credit rating agencies on a local level in the near future. Credit rating agencies: No Easy Regulatory Solutions. keywords: agencies; agency; analysis; credit; credit rating; crisis; debt; investment; investors; market; moody; rating; rating agencies; securities cache: ea-282.pdf plain text: ea-282.txt item: #164 of 301 id: ea-283 author: Malović, Marko title: Demystifying Bitcoin: Sleight of Hand or Major Global Currency Alternative? date: 2017-10-03 words: 4524 flesch: 47 summary: The recent demise of Mt. Gox, one of the chief exchanges for bitcoin both in Japan and more globally, is the case in point.8 Even before 127,000 customers were mugged online in this particular Mt. Gox incident, bitcoin showed signs of weakness in that it’s encrypted format is difficult, but not impossible for 7 Every four years (or exactly every 210,000 blocks later), number of bitcoins assigned to miners halves. The first purchase of goods&services with bitcoin was a pizza, yet more recently, people have been using bitcoins to buy overseas villas, foreign automobiles, drugs&narcotics, arms, proprietary software etc. keywords: bitcoin; currencies; currency; cyber; economic; exchange; money; network; transaction; value; vol; volatility; way; world cache: ea-283.pdf plain text: ea-283.txt item: #165 of 301 id: ea-284 author: Omerhodžić, Sead title: Identification and Evaluation of Factors of Dividend Policy date: 2017-10-03 words: 8717 flesch: 57 summary: 658.155.2 JEL: G35, G12 ID: 207708172 SCIENTIFIC REVIEW Identification and Evaluation of Factors of Dividend Policy Omerhodžić Sead1, Tuzla University, Faculty of Economy, Tuzla, Bosnia and Herzegovina ABSTRACT – Dividend policy determines the ratio between the earnings distributed to shareholders and the earnings retained in the company. This is followed by a discussion on dividend policy and optimal dividend policy and an analysis of factors that managers should have in mind when forming dividend policy. keywords: capital; cash; company; dividend; dividend policy; earnings; investors; management; payout; policy; price; shareholders; shares; theory cache: ea-284.pdf plain text: ea-284.txt item: #166 of 301 id: ea-285 author: Ferazz Martins, Nuno; Portugal Duarte, António title: The Public Finance and the Economic Growth in the First Portuguese Republic date: 2017-10-03 words: 5772 flesch: 64 summary: nekoliko događaja koji su izuzetno važni za Portugal. From Figure 7, it is possible to conclude that it was expected that Portuguese public debt should be around 46% of the GDP in 1928 (Debt_Pred), but instead there was a more significant reduction (Debt)9. keywords: debt; figure; gdp; growth; percentage; portugal; portuguese; republic; source; table; valério; vol; war cache: ea-285.pdf plain text: ea-285.txt item: #167 of 301 id: ea-286 author: Fidanoski, Filip; Mateska, Vesna; Simeonovski, Kiril title: Corporate Governance and Bank Performance: Evidence from Macedonia date: 2017-10-03 words: 11523 flesch: 52 summary: Importantly, Pathan and Skilly (2010) document that board size of large and medium sized banks decreases in the period after Sarbanes- Fidanoski, F., et al., Corporate Governance, EA (2014, Vol. 47, No, 1-2, 76-99) 83 Oxley while small bank board size remains stable, more independent and therefore took less risk. Corporate boards in some OECD countries: Size, composition, functioning and effectiveness. keywords: analysis; bank; banking; board; board composition; board size; capital; ceo; composition; directors; economic; governance; journal; macedonia; management; members; performance; ratio; size; structure; supervisory; variables cache: ea-286.pdf plain text: ea-286.txt item: #168 of 301 id: ea-287 author: Simionescu, Mihaela title: The Intensity of Convergence Process in the European Union date: 2017-10-03 words: 2826 flesch: 53 summary: This research might be developed by taking into account other measures of economic convergence. This research might be developed by taking into account other measures of economic convergence. keywords: average; beta; capita; convergence; gdp; growth; order; romania cache: ea-287.pdf plain text: ea-287.txt item: #169 of 301 id: ea-288 author: Knežević, Vladimir; Ivković, Dragan; Vujičić, Slađana title: Competitiveness and Development of National Economy date: 2017-10-03 words: 7398 flesch: 44 summary: Literature review In theoretical sense, in terms of country competitiveness report, the foundation was laid by profesor Porter (Rakić, 2003). So simply, we want to show how big is correlation of the development rank and competitiveness of the national economies towards the last five reports on world competitiveness published by the World Economic Forum. keywords: business; competitiveness; correlation; countries; crisis; development; economic; economy; global; market; report; world; world economy cache: ea-288.pdf plain text: ea-288.txt item: #170 of 301 id: ea-289 author: Stošić, Ivan title: Privatization and Company Restructurings Impact on Serbia date: 2017-10-03 words: 4155 flesch: 33 summary: Discussion – what happens to workers Numerous studies (i.e. Analysis of privatization effects, 2011) indicate that privatization and company restructuring processes in Serbia had strong depressing impact on the level of employment. In the privatized companies, where the purchase contracts were cancelled, the reduction of number employees was even higher – 86% (Analysis of privatization effects, 2011). keywords: analysis; companies; company; economic; employment; labour; market; number; privatization; restructuring; serbia cache: ea-289.pdf plain text: ea-289.txt item: #171 of 301 id: ea-290 author: Farsi Jahangir, Yadolahi; Modarresi, Meisam; Motavaseli, Mahmoud; Salamzadeh, Aidin title: Institutional Factors Affecting Academic Entrepreneurship: The Case of University of Tehran date: 2017-10-03 words: 8947 flesch: 25 summary: (2003) have studied entrepreneurial universities and dimensions of knowledge production in a case study in Belgium and identified two groups of institutional factors that result in the promotion of knowledge- based entrepreneurship: regional and national policy factors and university internal factors. Research Design Economic Analysis (2014, Vol. 47, No. 1-2, 139-159) 146 The in-person interviews involved three groups of individuals bearing interest in commercialization namely, professors experienced in commercialization of university research in the Engineering Faculty of the University of Tehran, scholarly professors in university entrepreneurship and commercialization of research, and managers & policy makers in Small Business Development Center (SBDC) of university of Tehran. keywords: activities; analysis; economic; education; entrepreneurship; et al; factors; indicators; industry; laws; research; rules; structure; study; universities; university cache: ea-290.pdf plain text: ea-290.txt item: #172 of 301 id: ea-291 author: Todorović, Brankica title: Suspension of Managerial Decisions in Relation to the Risks in the Business date: 2017-10-03 words: 5251 flesch: 54 summary: JEL: D49, M31 ID: 207712524 PROFESSIONAL PAPER Suspension of Managerial Decisions in Relation to the Risks in the Business Todorović Brankica1, School of Economics, Uzice, Serbia ABSTRACT – This paper analyzes the importance of the elasticity of managerial decisions in different territories on the example of Coca-Cola Hellenic Group (CCH Group). SWOT analysis of the market in the territories CCH Group S tr en g th s Established countries The availability of a large number of products Political and economic stability Established countries O p p o rt u n it is Developing countries Brand products GDP growth Political stability Developing countries Emerging countries The low price of the product Household consumption Size of countries and favorable demographic characteristics Emerging countries W ea k n es se s Established countries Different preferences about consumer The financial crisis Established countries T h re at s Developing countries Lower net income per unit of product The financial crisis Developing countries Emerging countries Distribution system Political and economic instability keywords: business; cch; cch group; coca; cola; countries; cycle; group; growth; life; marketing; price; product; sales; territories cache: ea-291.pdf plain text: ea-291.txt item: #173 of 301 id: ea-292 author: Zahirović Suhonjić, Anida title: Determinants of Customers Behavior in Online Group Buying Markets of the Western Balkans Countries date: 2017-10-03 words: 8110 flesch: 43 summary: KEY WORDS: online group buying, customer behavior, heuristic model, Western Balkans Introduction Given that the group buying on the Internet or online group buying (OGB for short) is primarily a sales and marketing business model, for its success are especially important determinants of the market, such as customer behavior in group buying and market performances of suppliers and online group buying services in the context of a specific terms of competitive environment. Those changes were influenced by the development of online social networks and competition among online group buying services as well. keywords: behavior; buying; customers; factors; group; group buying; market; model; offers; ogb; online; services; website cache: ea-292.pdf plain text: ea-292.txt item: #174 of 301 id: ea-293 author: Jevtić, Boris; Kovačević, Vladan; Vučeković, Miloš title: The Impact of IT on the Banking Productivity date: 2017-10-03 words: 5533 flesch: 36 summary: Common Characteristics of the Emerging Disruptors � Emphasize social responsibility � Focus on customer centricity and empowerment � Present simpler fee structure to customers � Provide personal financial management tools and access to other accounts � Embedded with social media, especially Facebook � Leverage Big Data and analytics � Offer mobile bill pay, P2P, remote-deposit, free ATM access One source of concern related to new banking technology is the emergence of a digital divide in the access to banking services. More than a quarter (26 percent) of bank customers who remain with their primary provider do so simply because they consider switching to be a hassle. keywords: banking; banks; business; customers; data; digital; efficiency; impact; industry; information; investment; level; productivity; services; system; technology cache: ea-293.pdf plain text: ea-293.txt item: #175 of 301 id: ea-294 author: Radović-Marković, Mirjana title: Note oft he Editor-in-Chief date: 2017-10-03 words: 233 flesch: 51 summary: Prof. Dr. Mirjana Radović-Marković, European Academy of Sciences and Arts (EASA), Salzburg,Austria Academia Europea (EA), London, United Kingdom World Academy of Art and Science (WAAS), United States Royal Society of Arts (RSA), London, United Kingdom Bulgarian Academy of Science and Arts (BASA), Sofia, Bulgaria Editor in Chief Such papers will not be taken into consideration for publishing. keywords: papers cache: ea-294.pdf plain text: ea-294.txt item: #176 of 301 id: ea-295 author: Ben Abdesslem, Amel; Kauffmann, Pascal title: European Growth: a Crisis Exit Strategy date: 2017-10-03 words: 8384 flesch: 52 summary: -1.6% -1.2% Greece 2.3% 5.5% 3.5% -0.2% -3.1% -4.9% -7.1% -7.0% -3.9% Ireland 6.1% 5.5% 5.0% -2.2% -6.4% -1.1% 2.2% 0.2% -0.3% % 2.0% 1.6% -0.4% 0.1% France 1.8% 2.5% 2.3% -0.1% -3.1% 1.7% 2.0% 0.0% 0.2% Germany 0.7% 3.7% 3.3% 1.1% -5.1% 4.0% 3.3% 0.7% 0.4% United Kingdom 3.2% 2.8% 3.4% -0.8% keywords: capital; commission; countries; debt; development; economic; economy; european; growth; innovation; market; member; policy; smes; states; strategy; united; vol cache: ea-295.pdf plain text: ea-295.txt item: #177 of 301 id: ea-296 author: Makrevska Disoska, Elena; Nenovski, Tome title: Competitiveness of the European Union: Pre-crisis Trends and Impact of the Financial Crisis date: 2017-10-03 words: 6696 flesch: 54 summary: In the first section, the trends in the world trade and EU trade are analyzed, from the creation of the European Economic Community to 2010. This argument is supported by the Regional Competitiveness Index (RCI) calculated by the European Commission, which measures the different dimensions of competitiveness at the regional level in EU countries. keywords: competitiveness; countries; economic; european; export; growth; labor; market; price; productivity; trade; union; world cache: ea-296.pdf plain text: ea-296.txt item: #178 of 301 id: ea-297 author: Penev, Slavica; Marušić, Andreja title: Attractiveness of East African Community (EAC) for Foreign Direct Investment date: 2017-10-03 words: 6529 flesch: 51 summary: However, EAC countries witnessed relatively high growth rates in the period 2005-2013, averaging 6.1%, compared to African average of 5.4%. The inflow of FDI in EAC countries was almost negligible during the 1990s. keywords: african; average; bank; business; countries; eac; economic; fdi; gdp; growth; index; market; region; wef; world cache: ea-297.pdf plain text: ea-297.txt item: #179 of 301 id: ea-298 author: Dudaković, Sanja title: Credit Spread Modeling: Macro-financial versus HOC Approach date: 2017-10-03 words: 5632 flesch: 63 summary: “Explaining Credit Spread Changes: New Evidence from Option-Adjusted Bond Indexes.” MATLAB was used to calculate estimates of the data's third-order cumulants, as well as to estimate ARMA model parameters. keywords: arma; changes; credit; credit spread; default; garch; index; interest; model; order; rate; spread; table; treasury; variable; volatility cache: ea-298.pdf plain text: ea-298.txt item: #180 of 301 id: ea-299 author: Pepić, Marina title: Interest Rate Swaps date: 2017-10-03 words: 6310 flesch: 65 summary: Interest rate swaps are particularly popular because they reduce interest rate risk to a minimum with a relatively low initial cost and without great risk, but also because of the fact that there are many modifications of the standard swap created to better satisfy the different needs of market players. After that, some non-standard variants of interest rate swaps, created to better satisfy different needs of market participants, will be briefly discussed. keywords: interest; interest rate; investor; libor; payments; rate; rate swap; swap cache: ea-299.pdf plain text: ea-299.txt item: #181 of 301 id: ea-300 author: Ristovska, Katerina; Ristovska, Aneta title: The Impact of Globalization on the Business date: 2017-10-03 words: 3064 flesch: 31 summary: In economics, internationalization is seen as a process of increased involvement of enterprises in international markets (Susman, 2007). Competition in international markets is huge and growing, with more multinational competitors who win markets worldwide. keywords: activities; business; companies; countries; development; globalization; markets; process; production; world cache: ea-300.pdf plain text: ea-300.txt item: #182 of 301 id: ea-301 author: Vujičić, Slađana; Radović Marković, Mirjana; Ivković, Dragan; Nikitović, Zorana title: A Leaders’s Influence on the Definition and Implementation of Strategy in Organizations date: 2017-10-03 words: 3604 flesch: 50 summary: Thus leaders, through their behavior and skills influence, define and implement organization strategy to a large extent. The respondents have answered eight questions which are significant in determining the leader’s influence on organization strategy (Annex). keywords: average; figure; influence; leader; leadership; organization; process; strategy cache: ea-301.pdf plain text: ea-301.txt item: #183 of 301 id: ea-302 author: Lazarević-Moravčević, Marija; Stevanović, Slavica; Belopavlović, Grozdana title: Specifics of Management in Small and Medium-Size Enterprises in Serbia date: 2017-10-03 words: 5852 flesch: 38 summary: The factors limiting the development of small business can be found in both external environment and internal features of a small business. In accordance with the above, the control of business performance should be refined using the qualitative indicators.4 The research which was conducted in order to identify the specifics of management in the SMEs, found that in such enterprises there is a practice of business control from different perspectives. keywords: analysis; business; company; control; enterprises; management; organization; planning; research; results; smes; structure; success cache: ea-302.pdf plain text: ea-302.txt item: #184 of 301 id: ea-303 author: Alihodžić, Almir; Džonlagić, Dženan title: Effects of Foreign Trade on Budget Equilibrium - Case Study of Bosnia And Herzegovina date: 2017-10-03 words: 7035 flesch: 63 summary: KEY WORDS: imports of goods, exports of goods, indicators of foreign trade, budget deficit, criteria of convergence Introduction Fiscal policy is a modern financial policy that contains a component of social - economic policy implemented by public finance management measures of restrictive or expansionary fiscal policy. Increase of budget deficit in all economies followed by an ongoing growth of the public debt for its coverage is the reality of modern market economies (Komazec, Ristic, 2011, pp. keywords: budget; budget deficit; countries; debt; deficit; economic; euro; gdp; tax cache: ea-303.pdf plain text: ea-303.txt item: #185 of 301 id: ea-304 author: Gruevski, Ilija; Graber, Stevan title: Corporate Taxation and Investment: The Case of the Split Rate Corporate Tax System in Macedonia date: 2017-10-03 words: 10254 flesch: 54 summary: In addition, we support our findings with a practical example: the case study from the implementation of the split rate corporate tax system in Macedonia KEY WORDS: corporate income tax, taxation, cost of capital, effective marginal tax rate, corporate tax system, source of finance, debt, new equity issues, retained earnings Introduction Corporate taxation is very complicated matter if we consider the fact that the corporate tax base (i.e. the corporate income) cannot be limited only at the corporation observed as a form of a legal entity. And for the investment tax wedge: Gruevski, I., et al., Corporate Tax System in Macedonia, EA (2014, Vol. 47, No. 3-4, 136-157) 149 0~ =−=− rrrp (37) Once again, it has been proved that the neutral position of the external debt as a source of finance is unaffected by the process of corporate taxation in absence of personal taxes, regardless the implemented type of corporate tax system. keywords: + −; = −; debt; equity; income tax; investment; rate; t r; t t; tax; tax rate; tax system; taxation; − +; − =; − − cache: ea-304.pdf plain text: ea-304.txt item: #186 of 301 id: ea-305 author: Radović-Marković, Mirjana title: Notes from of Editor-in-Chief date: 2017-10-04 words: 287 flesch: 53 summary: We appreciate the efforts of all the authors who have sent us quality papers, which passed the peer reviews and were published in our journal. Besides the original papers we welcome the papers from other scientific categories - position papers, letters to editors, research papers, reviews, and syntheses as well as book and conference reviews. keywords: papers cache: ea-305.pdf plain text: ea-305.txt item: #187 of 301 id: ea-306 author: Bonomi, Matteo title: The Emergence and Consolidation of the Administrative Capacity Criteria within the EU Enlargement Policy date: 2017-10-04 words: 9408 flesch: 40 summary: Another important part of the strengthening of the EU external push has come from a further clarification of EU administrative requirements through a new SIGMA initiative to support the Commission – The Principles of Public Administration (OECD 2014). It represents a clear effort to overcome the limits of EU policies in the past, especially those related to the fragmentation of chapter-by-chapter negotiations that has exposed EU power, exercised through conditionality, to high degrees of dispersion (Grabbe 2001). keywords: administrative; capacity; capacity criteria; commission; countries; criteria; enlargement; eu enlargement; european; national; new; policy; public; reform; strategy cache: ea-306.pdf plain text: ea-306.txt item: #188 of 301 id: ea-307 author: Tomić, Zoran title: Analysis of the Impact of Public Education Expenditure on Economic Growth of European Union and BRICS date: 2017-10-04 words: 7492 flesch: 49 summary: Relationship between public education expenditures and economic growth: The case of India, http://repo.sire.ac.uk/bitstream/10943/435/1/SIRE-DP- 2013_07.pdf (accessed December 23, 2014) 2014.Analysis of the impact of public education expenditure on economic growth of European Union, USA and Japan, Proceedings from 7th International 38 Economic Analysis (2015, Vol. 48, No. 1-2, 19-38) Conference SCIENCE AND HIGHER EDUCATION IN FUNCTION OF SUSTAINABLE DEVELOPMENT, Business and Technical College of Vocation Studies, Užice, Serbia. keywords: analysis; education; european; expenditure; gdp; growth; increase; period; public; union; value cache: ea-307.pdf plain text: ea-307.txt item: #189 of 301 id: ea-308 author: Mugoša, Ana; Popović, Saša title: Towards and Effective Financial Management: Relevance of Dividend Discount Model in Stock Price Valuation date: 2017-10-04 words: 5814 flesch: 58 summary: Calculating the corresponding cost of equity ke and dividend growth rate g, and discounting the initial dividend from the year 2009, the Gordon growth model was applied in price estimation for the period of 2010-2013. Damodaran (STERN NYU 2014) estimates the upper and lower end of stable growth rate by following: upper end: long term inflation rate + growth rate in real GNP lower end: long term inflation rate + growth rate in real GNP Damodaran estimates that the lower and upper end for stable dividend growth rate in the US is from 5%-8%, and, if the company is multinational, the real growth rate will be the growth rate of the world economy, which is about one percent higher. keywords: companies; dividends; equity; gordon; growth; model; period; price; rate; stock; valuation; value; wilcoxon cache: ea-308.pdf plain text: ea-308.txt item: #190 of 301 id: ea-309 author: Okičić, Jasmina; Remetic Horvath, Sonja title: The Identification of Blue Chip Stocks in Underdeveloped Stock Markets of South-Eastern Europe date: 2017-10-04 words: 5909 flesch: 57 summary: In the era of historically low interest rates and stock markets following the expansion of balance sheets of major national banks, many investors are looking for sources of solid growth and turning to less developed economies where low labor costs, highly skilled work force and diversified consumer profile are driving the organic growth. The purpose of this research is to provide potential investors with useful information on basic criteria for selecting stocks in underdeveloped stock markets. keywords: + +; analysis; cash; chip; chip stocks; discriminant; flow; function; grade; markets; price; region; research; stocks; variables cache: ea-309.pdf plain text: ea-309.txt item: #191 of 301 id: ea-31 author: Ziolkowska, Jadwiga title: Agri-Environmental Policy in Poland: Challenges and Evaluation Approaches date: 2017-09-20 words: 6473 flesch: 31 summary: OECD  (1999),  The  agri‐environmental  situation  and  policies  in  the  Czech  Republic,  Hungary  and  Poland.  Agri‐environmental measures are  realised within the National Agri‐environmental Programme which is a new paradigm in Poland.   keywords: agriculture; areas; development; european; evaluation; farmers; measures; national; poland; policy; protection; union cache: ea-31.pdf plain text: ea-31.txt item: #192 of 301 id: ea-310 author: Stefanović, Saša; Hanić, Hasan; Erić, Dejan title: Mortgage Securities as Funding Source for Mortgage Loans in the European Union date: 2017-10-04 words: 6328 flesch: 46 summary: While some institutions finance their activities by deposits, others issue mortgage securities (mortgage bonds and mortgage-backed securities) through the capital market. Moreover, it has been proved that mortgage bonds and mortgage backed securities in many ways satisfy various needs of creditors. keywords: bonds; credit; european; euros; institutions; loans; market; mbs; mortgage; mortgage bonds; mortgage loans; mortgage market; securities cache: ea-310.pdf plain text: ea-310.txt item: #193 of 301 id: ea-311 author: Musabegović, Ismail; Galetin, Milena; Mitić, Petar title: Foreign Direct Investments – the Standard of Fair and Equitable Treatment of Investments on the Example of a Case of the International Center for Settlement of Investment Disputes (ICSID) date: 2017-10-04 words: 5575 flesch: 38 summary: There is also violation of FET in the failure of Ministry to include company Swisslion LLC in consideration of questions regarding the violations of the Agreement.26 As for the actions of the Securities Commission, the standpoint is that the request of the State Prosecutor was aimed at imposing additional obligations to Swisslion LLC company through an administrative procedure27. Macedonia treated the investment of company Swisslion LLC unjustly and unfairly, which is in contradiction with Article 4(2) of the Agreement.20 The Arbitration court determined that Macedonia violated the Article 4(2) of the Agreement because it failed to act in accordance with the principle of fair and equitable treatment towards the investment of the company Swisslion LLC, while other claims of the company Swisslion LLC, on violations of the provisions of the Agreement, were rejected. keywords: arbitration; capital; company; countries; disputes; fair; fdi; icsid; international; investment; llc; standard; state; swisslion cache: ea-311.pdf plain text: ea-311.txt item: #194 of 301 id: ea-312 author: Župljanin, Slobodan; Balaban, Mladenka title: Organizational Change and Improvement Performance of Companies date: 2017-10-04 words: 4154 flesch: 31 summary: This work is, in essence, and deals with issues of organizational change, in response to the changes that come from the environment, or by creating an appropriate model of change management as an important prerequisite to improve the business performance of enterprises, which are the guarantee of the survival of the company in a dynamic and turbulent global market. Increasing the frequency and rate of change of diffusion leads to the fact that the company cannot adapt to the requirements of the environment is not even an occasional incremental to radical changes but it is necessary to incorporate into its own structure model of change management that includes a permanent, continuous revolutionary change.5 The causes of organizational changes Causes organizational changes lie in the imbalance or disruption of the balance between organization and environment and within the organization itself, i.e. between its subsystems. keywords: business; changes; companies; company; economic; environment; management; organization; performance; structure cache: ea-312.pdf plain text: ea-312.txt item: #195 of 301 id: ea-313 author: Halilbašić, Muamer; Brkić, Snježana; Bosić, Vedrana title: The Comparative Analysis of Export Competitiveness of ex-Yu Countries date: 2017-10-04 words: 8701 flesch: 46 summary: In order to obtain a comprehensive insight into export competitiveness, a few different indicators were used: indicators of export composition and revealed comparative advantage (Balassa RCA index, Michaely index), indicators of export diversification (share of top five export products and top five export markets, the number of export products, Herfindahl- Hirschman indices of geographic and sectoral export concentration), and export quality indicators (export product classification by technology content). We distinguish between HHI production concentrations, which measure export dispersion from the aspect of export products, and HHI geographical concentrations, which total, perfect similarity, when each product is both exported and imported, proportional to its share in total exports and imports. keywords: articles; competitiveness; concentration; countries; country; export; export competitiveness; index; international; macedonia; montenegro; period; products; share; trade; world cache: ea-313.pdf plain text: ea-313.txt item: #196 of 301 id: ea-314 author: Radović-Marković, Mirjana title: Notes from of Editor-in-Chief date: 2017-10-04 words: 167 flesch: 54 summary: ea_2015_3-4 Notes from of Editor-in-Chief Economic Analysis (EA) publishes original research papers, case studies, conference papers, book reviews and other peer papers. Manuscripts lacking theoretical foundation and methodological rigor will not enter the review process. keywords: papers cache: ea-314.pdf plain text: ea-314.txt item: #197 of 301 id: ea-315 author: Radović-Marković, Mirjana title: The Limits of the Scientific Method in Economics and Business: A Critical View date: 2017-10-04 words: 3777 flesch: 48 summary: KEY WORDS: economic theory, scientific method, economic research Introduction The social sciences deal with people or groups of people, companies, economies, and societies, i.e., with their individual and collective behavior. In recent years, economic theory has found itself more than ever being reconsidered under the influence of a major financial crisis, which was reflected in the numerous debates among economic experts who have questioned the new Keynesian theory and the views of its main successor Minsky, as well as modern monetary theory and the Austrian school of economics. keywords: analysis; economic; economy; fact; method; research; sciences; social; theory cache: ea-315.pdf plain text: ea-315.txt item: #198 of 301 id: ea-316 author: Balcar, Petr; Taušer, Jozef title: Implications of Business and Economic Environment and Strategic Management and Performance Management in Selected Countries of Central and Eastern Europe (CEE) date: 2017-10-04 words: 8309 flesch: 37 summary: Overall, there is an advanced knowledge of business management procedures in major and middle size companies. KEY WORDS: strategic management, process management, performance management, financial management, CEE countries and managerial performance Introduction The goal of this article is to assess the business environment and governance procedures in selected countries of Central and Eastern Europe (CEE), and the Baltic and Balkan countries. keywords: business; cee; companies; countries; country; economies; education; gdp; improvement; management; organizations; performance; procedures; process; processes; strategy; vol cache: ea-316.pdf plain text: ea-316.txt item: #199 of 301 id: ea-317 author: Simović, Vladimir title: The Accuracy of the Information Presented in Credit Bureau Reports: Research and Comparative Analysis date: 2017-10-04 words: 6046 flesch: 45 summary: It is logical to assume that an increase in number of institutions forwarding credit information means a higher incidence of credit report errors. Considering the fact that creditors are the only responsible for the accuracy of credit information, credit report errors can not occur as a result of the bureau's operations which is not the case with credit bureaus which use the technology of creating a unique credit file. keywords: accuracy; bureau; credit; credit information; data; errors; information; number; reports; research cache: ea-317.pdf plain text: ea-317.txt item: #200 of 301 id: ea-318 author: Brnjas, Zvonko; Vulićević, Vukica; Čanaićević, Divna title: Importance and Role of Fast Growing Companies – Gazelles in Modern Economies date: 2017-10-04 words: 8267 flesch: 47 summary: Aforementioned met-studies indicated that gazelle companies are not numerous, i.e. that their share in total number of companies is small. Anyhow, regardless of all differences in approaches to defining gazelle firms, understanding what is the driver of fast SME growth is crucial both for managers striving to become or remain competitive, and for the governments responsible for national economies and creation of new jobs. keywords: 2015; business; companies; company; countries; development; economic; economies; employees; enterprises; firms; gazelles; growth; number; period; production; research; share; subject; total cache: ea-318.pdf plain text: ea-318.txt item: #201 of 301 id: ea-319 author: Baltezarević, Vesna; Baltezarević, Radoslav; Jovanović, Dragana title: Knowledge Management as Imperative for Economic Growth and Development date: 2017-10-04 words: 2922 flesch: 41 summary: KEY WORDS: knowledge economy, Know-how, knowledge management, intellectual capital, communication Introduction The human society as a whole is exposed to constant change. Know how is what creates value, but also leads to new knowledge. keywords: business; capital; communication; economy; employees; individual; knowledge; management; organization cache: ea-319.pdf plain text: ea-319.txt item: #202 of 301 id: ea-320 author: Radulović, Dejan; Pindžo, Renata; Radulović, Sofija; Vuković, Darko title: Region as a Basic Territorial Unit of Regional Development (Concepts and Types) date: 2017-10-04 words: 5491 flesch: 40 summary: These processes of strengthen of the region may lead to the formation of political regions. 2) Administrative (governing) region - serves as a territory within the state in which they operate distraction central authorities. It is important that political region includes the legal personality, a certain set of competencies and public finance, i.e. a certain degree of freedom and autonomy in governance. keywords: area; belgrade; country; development; european; form; government; level; policy; region; state; types cache: ea-320.pdf plain text: ea-320.txt item: #203 of 301 id: ea-321 author: Avolio Alecchi, Beatrice; Calderón Agüero, Nathalie; Rojas Villafuerte, Francisco; Tokashiki Matsuy, Manuel title: Methodological Proposal to Measure Social Performance in Microfinance Institutions date: 2017-10-04 words: 11241 flesch: 66 summary: This paper presents a methodological proposal to measures social performance in MFIs. Moreover, according Woller (2007), social performance is not only defined in terms related to poverty, as it may or may not include them since it does not only measures the final outcomes, but also the actions and corrective measures that are continuously taken in order to achieve this outcome. keywords: h e; o n; social; t h cache: ea-321.pdf plain text: ea-321.txt item: #204 of 301 id: ea-322 author: Salamzadeh, Aidin title: New Venture Creation: Controversial Perspectives and Theories date: 2017-10-04 words: 3840 flesch: 53 summary: Discussion: new venture creation models On the one hand, it is axiomatic that new venture creation is an integral part of entrepreneurship (Timmons and Spinelli, 1994). ea_2015_3-4 UDC: 005.1:005.342 COBISS.SR-ID: 220032268 SCIENTIFIC REVIEW New Venture Creation: Controversial Perspectives and Theories Salamzadeh Aidin1, University of Tehran, Faculty of Entrepreneurship, Tehran, Iran ABSTRACT – New venture creation is a hot topic and different scholars tried to shed light on this fascinating research subject. keywords: business; creation; entrepreneurship; gartner; models; process; stage; venture; venture creation; view cache: ea-322.pdf plain text: ea-322.txt item: #205 of 301 id: ea-323 author: Radović-Marković, Mirjana title: Note of the Editor-in-Chief date: 2017-10-05 words: 118 flesch: 39 summary: ea_2016_1-2 Note of the Editor-in-Chief Peer Journal Economic Analysis (EA) belongs to that rare group of scientific journals, which encourage multidisciplinary approach on various research topics on economics. The Journal EA is published twice a year as a double issue in English language by the Institute of Economic Sciences from Belgrade, Serbia. keywords: journal cache: ea-323.pdf plain text: ea-323.txt item: #206 of 301 id: ea-324 author: Arsov, Sašo title: Capital Structure in Emerging Markets: The Case of Serbian Joint-Stock Companies date: 2017-10-05 words: 6803 flesch: 60 summary: As such, they should be quite representative for the Serbian economy, but we suggest an extension of the study with other companies, as soon as the data constraint is overcome. Larger companies are usually listed in the stock exchanges and thus more transparent, which provides them with bigger chances to issue bonds, for instance (Jensen and Meckling, 1976). keywords: assets; capital; capital structure; companies; company; debt; finance; financing; journal; stock; structure; tax; theory; use cache: ea-324.pdf plain text: ea-324.txt item: #207 of 301 id: ea-325 author: Agrawal, Reena title: Mobile Money Empowering People Living at Bottom of Pyramid and Boosting Socio-Economic Development in a Big Way date: 2017-10-05 words: 3695 flesch: 51 summary: Finding of the study The concept of mobile money Mobile money (m-Money) refers to a variety of financial services provided to the consumers via mobile phones. Growth in mobile money services The mobile money industry is growing rapidly. keywords: development; economic; growth; impact; inclusion; mobile; money; people; pyramid; research; services; study cache: ea-325.pdf plain text: ea-325.txt item: #208 of 301 id: ea-326 author: Pavlović, Dejana; Ljumović, Isidora title: Competitiveness Index Analysis: Is Investing in Young People Important for Achieving National Competitiveness? date: 2017-10-05 words: 4996 flesch: 56 summary: Bosnia and Herzegovina is characterized by high youth unemployment rate that reached its peak of 60.4% in 2013. High unemployment rate in the developing countries is the product of the difficult economic situation, the relatively underdeveloped private sector and underdeveloped business skills in young people. keywords: competitiveness; countries; economic; education; labour; market; people; rate; report; unemployment; world; youth cache: ea-326.pdf plain text: ea-326.txt item: #209 of 301 id: ea-327 author: Golubović-Stojanović, Aleksandra; Radović-Marković, Mirjana; Vujičić, Slađana; Stevanović, Mirjana title: Employees' Perceptions of Their Leaders date: 2017-10-05 words: 4184 flesch: 37 summary: Summing up the results should give us a real picture of existence or absence of leadership, employee creativity, marketing and organizational innovations… Organizational communication: Empowerment in a technological society. keywords: average; communication; creativity; employees; examinees; leaders; leadership; organizations; research cache: ea-327.pdf plain text: ea-327.txt item: #210 of 301 id: ea-328 author: Balaban, Mladenka; Župljanin, Slobodan; Ivanović, Periša title: Sources of Finance for Entrepreneurship Development date: 2017-10-05 words: 4672 flesch: 42 summary: From time to time, the state or any of its institutions to create programs in which, under certain conditions, share grants for business development. 50 Economic Analysis (2016, Vol. 49, No. 1-2, 48-58) It is no coincidence that the concept of entrepreneurship in the narrow sense, usually associated with small businesses. keywords: business; company; development; economic; enterprises; entrepreneurial; entrepreneurship; finance; financing; medium; new; smes cache: ea-328.pdf plain text: ea-328.txt item: #211 of 301 id: ea-329 author: Kaličanin, Tijana; Hanić, Azra title: Comparative Analysis of Levels of Banking Sector Markets Concentration in CEE Region date: 2017-10-05 words: 5983 flesch: 54 summary: It is important to underline that previous empirical research has proved that application of one market concentration indicator may lead to relatively contradictory conclusions on banking market concentration level since each indicator applied in this paper has both its advantages and disadvantages. In order to establish offer concentration level market shares of individual participants have been most often used. keywords: banking; banks; coefficient; concentration; deposits; firms; level; loans; market; number; offer; share cache: ea-329.pdf plain text: ea-329.txt item: #212 of 301 id: ea-330 author: Radović-Marković, Mirjana title: Notes from of Editor-in-Chief date: 2017-10-05 words: 222 flesch: 55 summary: Authors whose first language is not English should make sure their manuscript is written in idiomatic English before submission. Besides the original papers we welcome the papers from other scientific categories - position papers, letters to editors, research papers, reviews, and syntheses as well as book and conference reviews. keywords: papers cache: ea-330.pdf plain text: ea-330.txt item: #213 of 301 id: ea-331 author: Brkić, Snježana; Prijalović, Velma; Pjanić, Elma title: Correlation Between Credit Rating and Macroeconomic Indicators: Case Study of South-East European Countries date: 2017-10-05 words: 8154 flesch: 54 summary: Credit rating of Croatia (2007-2014) Year/Agency 2007 2008 2009 2010 2011 2012 2013 2014 Moody’s Baa3 / positive outlook Baa3 / positive outlook Baa3 / stable outlook Baa3 / stable outlook Baa3 / stable outlook Baa3 / negative outlook Ba1 / stable outlook Ba1 / negative outlook Standard & Poor’s BBB / stable outlook BBB / stable outlook BBB / stable outlook BBB-/ negative outlook BBB-/ negative outlook BB+ / stable outlook BB+/ negative outlook BB / stable outlook Fitch BBB-/ stable outlook BBB-/ stable outlook BBB-/ negative outlook BBB-/ negative outlook BBB-/ negative outlook BBB-/ negative outlook BB+/ stable outlook BB / stable outlook Source: Prepared by authors based on data published by credit rating agencies. Correlation between credit rating rating and inflation rate Graph 4. keywords: agencies; countries; country; credit; credit rating; gdp; negative; outlook; rating; risk; stable; stable outlook cache: ea-331.pdf plain text: ea-331.txt item: #214 of 301 id: ea-332 author: Džodžo, Miodrag title: Stress Testing Tool in Banking Risk Management – an Evidence from Serbia date: 2017-10-05 words: 2240 flesch: 51 summary: JEL: G15, G32 COBISS.SR-ID: 228331276 SCIENTIFIC REVIEW Stress Testing Tool in Banking Risk Management – an Evidence from Serbia Džodžo Miodrag1 ABSTRACT – In the Paper, the basic types of bank stress tests will be showed as examples from the practice of a relatively small bank in Serbia with assets of less than a hundred millions euro’s. The tool is shown in two types of stress test (scenario of analysis and sensitivity test) with examples. keywords: analysis; bank; scenario; stress; tests cache: ea-332.pdf plain text: ea-332.txt item: #215 of 301 id: ea-333 author: Malović, Marko; Škorić, Rade title: Impact of Croatia's Accession to the European Union on the Trade Orientation of Bosnia and Herzegovina date: 2017-10-05 words: 5920 flesch: 47 summary: Therefore, trade between Croatia and Bosnia and Herzegovina is one of the main drivers of intra CEFTA trade. Intra CEFTA trade of BIH plus Croatia (2014)15 If we compare Chart 7 and Chart 2, we see that Croatia’s participation both in import and export in BIH decreased, and although this decrease is not large in scale it is not negligible. keywords: agreement; bih; cefta; croatia; economic; exports; products; trade cache: ea-333.pdf plain text: ea-333.txt item: #216 of 301 id: ea-335 author: Vojinović, Željko title: Renewable Energy Sources and the Possibility of Their Insurance date: 2017-10-05 words: 3054 flesch: 47 summary: It's important emphasis that renewable energy sources can be classified by biomass and large hydropower known as traditional sources and solar energy, wind energy, geothermal energy 1 Professor, University of Novi Sad, Faculty of Economics Subotica, Department of Finance, Banking, Accounting and Auditing, Segedinski put 9-11, 24000 Subotica, Serbia, Phone: +381 24 628 000, Fax: Renewable energy sources, excluding hydropower, gives less than 1% of total energy demand. keywords: companies; energy; insurance; insurers; projects; risk; sources; water cache: ea-335.pdf plain text: ea-335.txt item: #217 of 301 id: ea-336 author: Anđelić, Slavica; Gajić, Aleksandar; Ilić, Đorđe title: Problems of Financial Management in the Public Sector date: 2017-10-05 words: 10266 flesch: 50 summary: The significance of this research is the promotion of modern methods of financial management and for pointing out the importance of the same for efficient business operations. Using modern methods of financial management it is possible to identify and monitor the needs for financial resources and their sources. keywords: belgrade; budget; company; costs; dinars; funds; income; loan; management; operating; project; railways; republic; risk; serbia; subsidies; transport cache: ea-336.pdf plain text: ea-336.txt item: #218 of 301 id: ea-337 author: Mosurović Ružičić, Marija; Kutlača, Đuro title: Statistical Monitoring of Innovation Capacities of the Serbian Firms as Decision- Making Tool date: 2017-10-05 words: 4924 flesch: 36 summary: KEY WORDS: Innovation capacity of the firms, Innovation activities, Oslo Manual, Community Innovation Survey, Strategic decision. Through measuring of innovation capacity of the firms over some period, it is possible to gain insight not only of the economic activity of the firms, but also in the economic activity of the nation, and even the region. keywords: activities; capacity; data; development; economic; firms; innovation; innovation capacity; level; national cache: ea-337.pdf plain text: ea-337.txt item: #219 of 301 id: ea-338 author: Prljić, Katarina; Mijalković, Jovana; Prljić, Stefan title: Innovation Analysis of the Sector of Small and Medium Enterprises and Entrepreneurs (SMEs) in the Republic of Serbia date: 2017-10-05 words: 5010 flesch: 40 summary: Source: Global Competitiveness Report 2011—12, Global Competitiveness Report 2012—13, Global Competitiveness Report 2013—14, Global Competitiveness Report 2014—15, Global Competitiveness Report 2015—16 88 Economic Analysis (2016, Vol. 49, No. 3-4, 81-96) Analysis of innovation in the SMEs in Serbia Research on innovation activities in businesses in Serbia in the period 2010-2012, conducted by the Republic Statistical Office on a sample of 3,500 businesses (Sample frame were active business entities obtained from the Statistical Business Register, which contains 11841 business entity with 10 or more employees) showed the highest participation in innovative activities of big businesses. 42,4 Source: http://webrzs.stat.gov.rs/WebSite/repository/documents/00/01/21/40/IA01_285_srb=bkorekt.pdf Results of research on innovation activities in businesses in Serbia in the period 2012- 2014, conducted by the Republic Statistical Office on a sample of 3587 businesses (Sample frame were active business entities obtained from the Statistical Business Register, which contains 16659 business entity with 10 or more employees) have shown that the size of the business entity is a key factor for innovative activities of enterprises (Table 6). keywords: analysis; business; company; competitiveness; development; economic; enterprises; innovation; organization; serbia cache: ea-338.pdf plain text: ea-338.txt item: #220 of 301 id: ea-339 author: Radović, Mirjana title: Notes from of Editor-in-Chief date: 2017-10-05 words: 145 flesch: 73 summary: My effort, energy and motivation of previous years will be for sure maintained throughout the coming years by new editor in chief. ea_2017_1-2 Notes from of Editor-in-Chief It has been an enjoyable experience and I have been lucky to have worked with such good colleagues and members of the editorial board since 2009. keywords: chief cache: ea-339.pdf plain text: ea-339.txt item: #221 of 301 id: ea-34 author: Malović, Marko title: Exchange Rate Regimes and Monetary Policies in Emerging   Markets: A Showdown for Few Theoretical Misconceptions date: 2017-09-20 words: 7152 flesch: 37 summary: However, it is true that even under such a regime we cannot always be 100% sure regarding the exact nature of exchange rate dynamics at hand.   ORIGINAL PAPER      ABSTRACT:  The purpose of this paper is to challenge couple of dangerous theoretical misconceptions  in open‐economy macro, namely, in respect to desirability or sustainability of available exchange rate re‐ gimes and inflation targeting framework and their mutual compatibility in small open economies with in‐ complete (emerging) markets.   keywords: bank; countries; currency; dirty; economies; exchange; inflation; markets; monetary; paper; policy; rate; regimes; targeting cache: ea-34.pdf plain text: ea-34.txt item: #222 of 301 id: ea-340 author: Marija, Đekić; Gavrilović, Milan; Roganović, Miloš; Gojković, Ranka title: The Role of Investment Funds in Countries with Transition Economies date: 2017-10-05 words: 5836 flesch: 48 summary: Investment funds affect the development of capital markets through several roles: Through the collection of domestic savings by providing investors higher yield rates and greater security than commercial banks, diversification in placements and reducing risk by ensuring adequate liquidity of investments, enabling reinvestment of dividends and accomplished capital profit, providing new sources of funding for corporations, small and medium-sized enterprises, through an increase in competition over the banks raise the quality of financial institutions, and finally, encouraging circulation on the financial market, as investment funds also appear as buyers and sellers of securities. Law regulations would, of course, be necessary to define a number of issues related to the establishment and operations of investment funds, starting from the required capital, qualification of personnel, types of investment fund, the restrictions regarding allowed percentage of investments in certain securities, preventing manipulation, etc. keywords: capital; countries; development; economic; end; funds; investment; investment funds; investors; market; serbia; transition cache: ea-340.pdf plain text: ea-340.txt item: #223 of 301 id: ea-341 author: Piljan, Tatjana; Piljan, Ivan; Cogoljević, Dušan title: Insurance Sector and Climate Changes in Serbia date: 2017-10-05 words: 6615 flesch: 39 summary: It is a global ecological problem, hence we can speak about global climate changes which affect states, nations, continents regardless of where they are and how responsible they are for creating and sustaining these changes KEY WORDS: insurance sector, effects of climate changes, risk and loss minimization, social problem, ecological problem, adaptation Climate changes The problem of climate changes represents a topical social problem in today’s civilization. 005.334:368 551.583 JEL: G15, G22 COBISS.SR-ID: 240652044 PROFESSIONAL PAPER Insurance Sector and Climate Changes in Serbia Tatjana Piljan1, Business College of Vocational Studies “Prof. Dr Radomir Bojkovic”, Krusevac, Serbia Ivan Piljan, Dušan Cogoljević, Faculty of Business Economics and Entrepreneurship, Belgrade, Serbia ABSTRACT – Climate changes have a strong negative impact on the insurance sector, which is reflected in the slow development of the insurance sector and in the transfer of the greater part of risk on the state and individuals. keywords: adaptation; changes; climate; climate changes; companies; development; energy; global; increase; insurance; problem; sector cache: ea-341.pdf plain text: ea-341.txt item: #224 of 301 id: ea-342 author: Đukić, Gordana; Balaban, Mladenka; Radisavljević, Goran title: The Macroeconomic Framework of the Functioning of Public Compulsory Pension Insurance date: 2017-10-05 words: 4979 flesch: 40 summary: KEY WORDS: social insurance, pension system, pension benefits, pension system reform, pension plans, pension models Introduction Pension systems in the period of globalization and transition are the priority national goal, which is standardized in international agreements and directives and action plans. A comparative analysis of pension systems of more countries can find solutions to existing problems. keywords: countries; economic; increase; pension; pension system; risk; serbia; state; system cache: ea-342.pdf plain text: ea-342.txt item: #225 of 301 id: ea-343 author: Lovre, Ivan; Munitlak Ivanović, Olja; Mitić, Petar title: Analysis of Public Sector Efficiency in Developed Countries date: 2017-10-05 words: 5678 flesch: 49 summary: Additional difficulties that occur during the measurement and comparison of public sector are: lack of a single theoretical approach that would accurately and unambiguously determine the area of state actions, differences between public sectors as a result of the size, structure and scope of the public sector, political organization (unitary or federal state), as well as demographic and geographic characteristics of a country. Public sector efficiency (PSE) in developed countries Country Public sector size Overall performance Overall efficiency Australia 0.80766 1.16826 1.19509 Austria 1.50960 1.18264 1.44508 Belgium 1.38236 1.16056 1.45117 Denmark 1.30833 1.32582 1.86654 Finland 1.39498 0.97177 2.00003 France 1.72944 1.29425 1.40774 Greece 1.77150 1.09279 0.89397 keywords: analysis; countries; economic; efficiency; indicators; performance; sector; sector efficiency cache: ea-343.pdf plain text: ea-343.txt item: #226 of 301 id: ea-344 author: Đokić, Ines title: The Use of Semantic Differential in Function of Measuring Image of the Company date: 2017-10-05 words: 4066 flesch: 48 summary: Analysis of image as a communication impact of marketing communications By applying different marketing communication instruments company has aim to transmit the unique promotional message and to create a positive image. Consideration of marketing communications effects is also important for the following reasons (Shah, D'Souza, 2009): • allows determining how much investment in market communication contributes refunds through greater sales, • presents the basis of managerial evaluation of communication alternatives (potential messages, instruments and media), whereas by selection of their most effective combination is allowed to determine what are the effects of different communication strategies, • presents the basis for future planning, • increases the effectiveness of marketing communications, by elimination of unproductive alternatives and by implementation of productive elements of the communication program. keywords: brand; communication; company; consumers; marketing; product; ο ο cache: ea-344.pdf plain text: ea-344.txt item: #227 of 301 id: ea-345 author: Minafam, Zahra title: Corporate Entrepreneurship and Innovation Performance of Established Ventures: Case of Iranian Vanguard Companies date: 2017-10-05 words: 6284 flesch: 46 summary: Another factor to be studied is process innovation, which is extensively used among corporate entrepreneurial firms (Kuratko et al., 2014). Thus, the more innovative products are produced by the firms, the more they would be considered corporate entrepreneurial firms (Kuratko et al., 2015). keywords: entrepreneurship; et al; firms; innovation; journal; kuratko; management; performance; process; product; research cache: ea-345.pdf plain text: ea-345.txt item: #228 of 301 id: ea-346 author: Arsenijević, Olja; Kastratović, Edita; Nešić, Sandra title: Attitudes of the Employees on Education in Local-Self-Government date: 2017-10-05 words: 9063 flesch: 44 summary: It is about a relationship towards the engagement of the attendants themselves, organization of education, education programs, provision of reference books, and attitude towards educators. It tells us that latent in the basis of numerous viewpoints that respondents have on education, they largely stand in belief that within the education observed new knowledge and skills are acquired, that implemented education programs contribute to better communication with citizens and better performance of the job, that it would be pleasant to participate in education, etc. keywords: attitudes; education; employees; factor; government; knowledge; lecturers; programs; self; skills; table cache: ea-346.pdf plain text: ea-346.txt item: #229 of 301 id: ea-35 author: Gržinić, Jasmina; Vitasović, Aljoša title: The Role of Tourism in the Development of Employment in Istria date: 2017-09-20 words: 4352 flesch: 47 summary: 4. The Role of Tourism in the Development of Employment in Istria  The decrease of the share of tourist economy in the overall employment in Istria points to the  fact that tourism suffered more than other sectors of economy during the years of crisis in the last  decade (Graph 2).  It is clearly visible, whether we observe Germany (where the an‐ nual unemployment rate is about 8% of the fit for work population), as a predominantly emitting  tourist power employing 1.800.000 people in tourism (data from 1995), or Italy (where the north‐ western part of the country has an unemployment rate around 8‐10% and more than 20% in the  south), where around 2.000.000 people is employed in the receptive sphere of tourism.  keywords: activities; croatian; development; education; employment; istria; number; people; region; tourism cache: ea-35.pdf plain text: ea-35.txt item: #230 of 301 id: ea-36 author: Stošić, Ivan title: Results and Problems of Serbian Real Sector Privatization date: 2017-09-20 words: 3776 flesch: 33 summary: Microsoft Word - 2007_01_02.doc Results and Problems of Serbian Real Sector Privatization  Ivan Stošić, Institute of Economic Sciences, Belgrade, Serbia  KEY WORDS: Privatization, Restructuring, Real Sector of Serbian Economy  UDC: 332.025.28          JEL : E65, O11  ORIGINAL PAPER  ABSTRACT ‐ The process of privatization of the real sector of Serbian economy has not been com‐ pleted after 17 years of implementation.  Considering a immense number of these enterprises, a question was imposed  in which method to access to the privatization and transforming of enterprises, which can very  hardly find new owners due to their current performances  For those reasons, by the middle of 2005, do amendments of the Law on Privatization were  introduced, with which a new incentive was given to the process of privatization. keywords: enterprises; number; privatization; process; restructuring; serbia cache: ea-36.pdf plain text: ea-36.txt item: #231 of 301 id: ea-37 author: Ćulahović, Besim title: Globalisation, Global Business and Transnational Corporations date: 2017-09-25 words: 6635 flesch: 34 summary: Local Figure 4 The two dimensions of production chains Source: Porter (1986) FINANCIAL SYSTEM Technology / Research and Development (product design, process technology, logistics of procurement / distribution) Materials Procurement Transformation Marketingand sales Distribution Service Transport and Communications Processes (movement of materials, products, people, information) REGULATION, COORDINATION, CONTROL Note: Microsoft Word - 2007_01_02.doc Globalisation, Global Business and Transnational Corporations  Besim Ćulahović, University of Sarajevo, Faculty of Economics, Sarajevo  KEY WORDS: Globalisation, Transnational Corporations, Localisation, Clusters  UDC: 005.44           JEL : F02, F2  ORIGINAL PAPER  ABSTRACT ‐ The process of globalization should be conceptualized as a complex interaction between  transnational corporations (TNCs) and the state that occurs in the context of the dynamic technological en‐ vironment. keywords: capital; countries; economy; firms; globalization; goods; labour; new; processes; production; trade; world cache: ea-37.pdf plain text: ea-37.txt item: #232 of 301 id: ea-38 author: Zubović, Jovan; Domazet, Ivana title: Customer Relationship Management ‐ Competitiveness Improvement Tool date: 2017-09-25 words: 3031 flesch: 40 summary: o Customer selection   o Customer acquisition   o Customer retention   o Customer growth   Transaction marketing is based on pushing customer so as to make transactions faster and  easier.  It is important to view CRM as integrated set of activities which enables  improvement of company operations through:  o identifying, understanding and successful communication with customers  o targeted sales of product/service to new and existing customers  o development of new attractive offers, price discounts and marketing programs cre‐ ated for customers  o retention and share of value with most profitable customers, since satisfied customer  becomes a loyal customer  Customer satisfaction is not easy to measure by “yes” or “no”. keywords: business; company; crm; customer; marketing; relationship cache: ea-38.pdf plain text: ea-38.txt item: #233 of 301 id: ea-39 author: Sousa Andrade, João title: Mobility of capital and external sustainability of the Portuguese economy date: 2017-09-25 words: 9718 flesch: 64 summary: As a result of the presence of ruptures in the series we applied the test  of Perron (1997), beyond the Dickey‐Fuller39 and KPSS40 tests.  For  the period until 1983 we verify that the ADF test reject the presence of a unit root at the 5% level  and the KPSS test reject stationnarity at 1%. keywords: analysis; capital; economy; international; investment; level; mobility; model; period; saving; table; test cache: ea-39.pdf plain text: ea-39.txt item: #234 of 301 id: ea-40 author: Rovčanin, Adnan title: Foreign Direct Investment and National Competitiveness – Financial Aspects date: 2017-09-25 words: 7284 flesch: 46 summary: We first briefly present  some data which highlight importance of FDI in these two economies, than we analyze the role  played by policy in attracting and upgrading FDI and enhancing linkages between TNCs and local  firms.   However, there are also some external factors, which have shaped policies towards FDI or  have been important in attracting FDI, and which may take the case of Singapore less general in its  application to other countries. keywords: cent; countries; country; development; fdi; firms; foreign; investment; policies; policy; singapore; technology cache: ea-40.pdf plain text: ea-40.txt item: #235 of 301 id: ea-41 author: Erić, Dejan title: The Strange Kind Of Corporate Governance date: 2017-09-25 words: 9971 flesch: 55 summary: o Corporate management – who is expected to show a high level of responsibility, effi‐ ciency and effectiveness; and  o Appropriate institutional environment – which encompasses the whole set of factors,  such  as  a  reliable  legal  system,  developed  stock  market  or  stock  exchange,  larger  number of financial institutions, precise accounting standards, independent experts,  the existence of appropriate know‐how and system of information, etc.    o Ownership rights and property relations – which are considered to be protected and  completely clearly defined.  keywords: business; companies; control; corporate; corporations; development; fry; governance; kind; ownership; serbia; state; time; yugoslavia cache: ea-41.pdf plain text: ea-41.txt item: #236 of 301 id: ea-42 author: Redžepagić, Srđan title: The Future of the European Economy date: 2017-09-25 words: 4572 flesch: 52 summary: The enlargement was (and always is)  the most significant and the most ambitious European project since the signature of the Treaty of Rome1: it  reconciles one of the economic projects of the united Europe with geo‐strategic vision of the European conti‐ nent, which will allow the important position of the EU in the World.  Today, the question is also the integration of the Balkan  countries to the EU and their future toward European integration.  keywords: accession; european; january; member; states; treaty; union cache: ea-42.pdf plain text: ea-42.txt item: #237 of 301 id: ea-43 author: Vukotić-Cotić, Gordana title: Cohort 2 of the MEGA Program: Basic economic facts, 2006 date: 2017-09-25 words: 2739 flesch: 44 summary: Table 7. Number of new entrepreneurs by activities: 2006     Serbia  Co‐ hort 2  Arilje Cacak Kral‐ jevo Lesko vac  Panč evo  Para‐ ćin  Pećinci Prije‐ polje  Sabac  Smeder evo  Vrsac Total  45,867 6,549  133  892  829 785  1,426 326 82  291  659  809  317  Agriculture, forestry, water  resources management  518  60  1  4  9  7  8  9  1  3  5  3  10  Fishing industry  4                                  Mining and quarrying indus‐ try  23  2       2                       Manufacturing industry  6,721  967  51  187  128 134  122 62  14  60  89  97  23  Electricity, gas, water supply  6  1                            1  Construction  4,598  563  8  80  93  90  102 26  8  19  45  71  21  Wholesale and retail trade  16,009 2,513  30  264  278 320  685 124 35  84  245  307  141  Hotels and restaurants  5,098  711  23  99  125 72  79  41  9  29  102  94  38  Transportation, storage, tele‐ communications  4,238  773  5  112  64  66  264 21  9  57  32  121  22  Financial mediation  333  60  1  3  10  10  2  2     5  13  13  1  Real estate businesses  4,680  494  8  77  67  51  85  20  4  17  68  62  35  Public administration, com‐ pulsory social security  3  1          1                     Education  168  15     1  1  1  4  1        2  3  2  Health and social work  767  92     16  17  9  19  3  1  5  8  6  8  Public utilities, personal ser‐ vices  2,698  297  6  49  35  24  56  17  1  12  50  32  15  Households  3                                      Source: Business Registers Agency of the Republic of Serbia  Conclusion  The economic performance of the municipalities within Cohort 2 was weak in 2006, as the  baseline year.  This paper – which has been also supported by the Ministry of Science and the Protection of  Human Environment of the Government of the Republic of Serbia within its program for the pe‐ riod 2005–2007 – will deal with basic economic facts on the municipalities within Cohort 2 in the  baseline year 2006.  keywords: cohort; serbia; total; women cache: ea-43.pdf plain text: ea-43.txt item: #238 of 301 id: ea-44 author: Milinković Fimon, Dragan title: About Culture in Economics date: 2017-09-25 words: 5789 flesch: 33 summary: As  indicated  by  the  UN  World  Commission  on  Culture  and  Development  (1995),  re‐ conceptualising development in human terms brings culture in from the periphery of development  thinking and places it in centre stage.  In this respect,  we have pointed in this chapter to the acceptance by the World Bank and other development agen‐ cies of an explicit role for culture in development as some evidence of the paradigm shift that is  taking place.   keywords: bank; countries; cultural; culture; development; economics; example; growth; human; performance; values; world cache: ea-44.pdf plain text: ea-44.txt item: #239 of 301 id: ea-45 author: Board, John; Sutcliffe, Charles title: Joined‐Up Pensions Policy in the UK:   An Asset‐Liability Model for Simultaneously Determining the Asset Allocation and Contribution Rate date: 2017-09-25 words: 17503 flesch: 52 summary: The reasons given for closure include the introduction of Financial  Reporting Standard 17, the substantial deficits on final salary schemes (caused by the fall in inter‐ est rates, the major stock market decline after the peak in December 1999, the extended contribu‐ tion holidays and contribution reductions for employers, increases in benefits, the conversion of  discretionary benefits into non‐discretionary benefits, the use of pension schemes to finance early  retirement on very favourable terms, and the tax limit on scheme surpluses); the effective move  from limited price indexation to fully indexed pensions, with the fall in annual increases in RPI to  below 5% since July 1991; the regulatory burden of administering these schemes; the increased cost  due to rising life expectancy; the increased size of pension liabilities, relative to the size of the em‐ ployer; the increase in stock market volatility; the risks that such schemes impose on employers  (e.g. the risk that the fund will be insufficient to pay the pensions, the credit rating of the employer  may be reduced because of the possibility of pension shortfalls); the abolition of tax relief on divi‐ dends from UK companies  in 1997;  the changes  in actuarial  technique  leading to more volatile  surpluses; the risk that new legislation or decisions by the law courts will increase the liabilities;  Joined‐Up Pensions Policy in the UK:   An Asset‐Liability Model for Simultaneously Determining  the Asset Allocation and Contribution Rate* John Board, Charles Sutcliffe, The ICMA Centre, University of Reading  KEY WORDS: Pension scheme, portfolio theory, asset‐liability  modelling, contribution rate risk, solvency risk  JEL: G11, G23  * previousy published In Handbook of Asset and Liability Management, edited by Stavros A. Zenios and William T. Ziemba,  (North Holland Handbooks in Finance, Elsevier Science B.V., Volume 2, 2007, pp. 1029‐1067, ISBN‐10: 0‐444‐52802‐4)  ANALYSIS  2007 ‐ 88  •  Economic Analysis®  the  lower  priority  given  to  retaining  staff;  the  opportunity  to  establish  defined  contribution  schemes with a lower cost to the employer, and the much greater portability of defined contribu‐ tion schemes.  Therefore  the  contribution  rates  given  by  the  Haberman  (1992)  model are usually lower than those produced by a model using the return on a liability matching  portfolio as the discount rate.  keywords: actuarial; allocation; asset; contribution; funding; haberman; liabilities; liability; model; pension; portfolio; rate; ratio; returns; risk; scheme; variance; vol cache: ea-45.pdf plain text: ea-45.txt item: #240 of 301 id: ea-46 author: Zubović, Jovan title: Personality Model in Human Resources Management date: 2017-09-25 words: 2344 flesch: 40 summary: All other directors and chiefs as middle and lower management in company most of their ac‐ tivities perform as executives who perform tasks set by “Managers” and should be treated as „Ex‐ ecutives“.  If grades are calculated for skills relevant to position administratives occupy in companies  the results are shown in tables 2 through 4.   keywords: company; skills; work cache: ea-46.pdf plain text: ea-46.txt item: #241 of 301 id: ea-47 author: Emmanuel, Ouyahia title: Macrodynamics and Pollution in Open Economy: An IS‐LM Analysis date: 2017-09-25 words: 6714 flesch: 61 summary: − − − − − − ±1 2 12 1, ( ( ) ) − − − − + keywords: economy; environmental; level; pollution cache: ea-47.pdf plain text: ea-47.txt item: #242 of 301 id: ea-48 author: Malović, Marko title: On Balance of Payments Crisis in Serbia:   If it ain’t broken, why fixing it might still be a good idea? date: 2017-09-25 words: 12621 flesch: 40 summary: So to sharpen the  working light thrown on the BoP challenge in Serbia, this paper does not claim the inevitability of  Murphy’s breed: “Nothing works and whatever may go wrong, will”, but rather underlines inevi‐ 12 Worsening of Serbia’s BoP would appear even clearer if 2004 and 2005 deficits were amended downward and upward,  respectively, due to VAT introduction effect which increased imports in 2004 and curb them in early 2005 causing a priori  tax evasion. See e.g. Petrović and Vasiljević (2007).   At the time of this writing, Serbia alone accumulated  over 16 billion € of external debt, however, chorus of those very same Serbian economists today  claims that this external debt and current account deficit could be sustained indefinitely.22 On the  other hand, not more than a dozen of academically trained Serbian economists23 in the last 20 years  dared to utter that, when BoP is in deep disequilibrium, theory of international finance suggests  that there must be something wrong with the exchange rate too. keywords: account; adjustment; bop; capital; credit; crisis; debt; deficits; depreciation; dinar; exchange; foreign; international; monetary; paper; policy; rate; real; reserves; serbia cache: ea-48.pdf plain text: ea-48.txt item: #243 of 301 id: ea-49 author: Redžepagić, Srđan; Richet, Xavier title: The attractiveness of the Western Balkans for the FDI date: 2017-09-25 words: 5096 flesch: 39 summary: Microsoft Word - 2008_01_02.doc ORIGINAL PAPER    The attractiveness of the Western Balkans for the FDI    Srđan Redžepagić, Institute of Economic Sciences    Xavier Richet, Université de la Sorbonne nouvelle, Paris CEMAFI    KEY WORDS: FDI, CEEC, European Union, Investments, Economy    UDC: 327.39:061.1          JEL: E22, 018  ABSTRACT ‐ As the EU expands, the focus is on the Western Balkans region1, which is rich with  opportunity and potential.  It is experiencing significant improvements in terms of reforms, economic growth  and foreign direct investment (FDI). keywords: american; balkans; countries; dollars; europe; european; fdi; investment; privatization; region cache: ea-49.pdf plain text: ea-49.txt item: #244 of 301 id: ea-50 author: Montes, J. Antonio Ariza; Carbonero Ruz, Mariano; López Martín, Mª Del Carmen; Gutiérrez Villar, Belén title: Job Stability and Gender Perspectives:   Application of a Logistic Regression Model date: 2017-09-25 words: 8112 flesch: 42 summary: Microsoft Word - 2008_01_02.doc ORIGINAL PAPER    Job Stability and Gender Perspectives:     Application of a Logistic Regression Model    J. Antonio Ariza Montes, Mariano Carbonero Ruz,    Mª Del Carmen López Martín, Belén Gutiérrez Villar     Faculty of Business – ETEA – affiliated to the University Of Cordoba    KEY WORDS: Gender discrimination, Temporary employment, Logistic regression models    UDC: 331.564:316.647.82          JEL: B41, C51, J16    ABSTRACT ‐ Several changes have been taking place in the labour market since the 1970s that have  created the right climate to spur organisations and workers to demand greater flexibility in employment.  Introduction  Many researchers have examined the decline of standard labour relations, in other words,  the model of employment in which the worker has a clearly defined employer, works full time  throughout the financial year under the supervision and premises defined by the employer, enjoys  certain legal and social benefits, and finally, expects this working situation to continue indefinitely  (Muckenberger, 1989; Schellenberg and Clark, 1996; Vosko, 1997).  keywords: contracts; employment; gender; job; labour; model; probability; regression; variables; women; work cache: ea-50.pdf plain text: ea-50.txt item: #245 of 301 id: ea-53 author: Minović, Jelena title: Application and Diagnostic Checking of Univariate and   Multivariate GARCH Models in Serbian Financial Market date: 2017-09-25 words: 6758 flesch: 62 summary: Modeling of restricted BEKK, DVEC and CCC models in trivariate version  Table 3 contains the coefficients, standard errors, z‐statistics, log‐likelihood and information  criteria for trivariate BEKK, DVEC and CCC model.  Multivariate (trivariate) GARCH models  which will be covered in this paper are restricted version of BEKK (named after Baba, Engle, Kraft  and  Kroner,  1995),  model,  the  diagonal  VEC  (DVEC,  initially  due  to  Bollerslev,  Engle  and  Wooldridge, 1988)  model and Conditional Correlation Model (CCC, Bollerslev, 1990)). keywords: belex15; energoprojekt; garch; hemofarm; index; models; residuals; stocks; test cache: ea-53.pdf plain text: ea-53.txt item: #246 of 301 id: ea-54 author: Džafić, Zijad; Rovčanin, Adnan; Klopić, Nermin title: Development of Small and Medium Enterprises: B&H Compared to Other Western Balkans Countries date: 2017-09-25 words: 6714 flesch: 47 summary: The new ideology of neoliberalism apostrophes the role of SMEs as promoters of a “healthy”  business climate, economic efficiency and power for economic growth, especially in small, devel‐ oped countries, and even more so for countries in transition.   Large  interest  for  SMEs was aroused in countries of the Western Balkans in the last decade when it was realized that  SMEs could play a key role in the process of transition.   keywords: b&h; balkans; bosnia; countries; development; herzegovina; sector; smes; transition cache: ea-54.pdf plain text: ea-54.txt item: #247 of 301 id: ea-544 author: Hanić, Aida title: Process of Internationalization in Islamic Banking: The Case of Serbia date: 2017-12-25 words: 4497 flesch: 44 summary: Aida Hanić 73 6) Regarding regulation of Islamic banks, 58% of the respondents are aware that Islamic banks face a problem with the regulation in the countries like Serbia, 25% were not able to comment on the matter and 17% of the respondent participants answered that current regulation is not an obstacle to the development of Islamic banking in Serbia. 7) a) 50% of the of directors of commercial banks in Serbia strongly disagree that Islamic banking is applicable only in Muslim countries which is consisted with the statement that Islamic bank would be well accepted by the public in Serbia, 20% of the respondents disagree partially while 30% can’t take a stand on this matter. b) Regarding the statement that Islamic banks are more profitable than commercial banks, 66% of directors of commercial banks in Serbia couldn’t take a stand on this matter, 17% disagree partially with this statement and 17% partially agree. The questions were related to areas such as: a) the rate of growth of assets of Islamic banks, b) the level of informed about the principles of Islamic-banking, c) the degree of acceptance of the establishment of Islamic banks by the public d) percentage of the rate of return risk of Islamic banks compared to conventional banks, e) level of interest of conventional banks to provide Islamic banking services through Islamic windows, f) regulating the business of Islamic banks and g) business ethics in Islamic banking keywords: banking; banks; countries; development; finance; financial; internationalization; islamic; serbia cache: ea-544.pdf plain text: ea-544.txt item: #248 of 301 id: ea-545 author: Kalaš, Branimir; Mirović, Vera; Pjanić, Miloš title: Economic and Tax Competitiveness in Selected South East European Countries date: 2017-12-25 words: 4731 flesch: 46 summary: Tax rates in Western Balkan and SEE countries 2014 Source: Authors based on http://www.kpmg.com/ Figure 4 reflects the trend of tax rates in Western Balkans and SEE countries at the end 2014. High tax rates are more difficult to sustain in this new economic environment and as economic integration increases, individuals and business gain greater freedom to take advantage of foreign economic opportunities. keywords: business; competitiveness; countries; economy; growth; market; rates; serbia; tax; world cache: ea-545.pdf plain text: ea-545.txt item: #249 of 301 id: ea-546 author: Pavlović, Dejana title: The Impact of Human Resource Management of the Work Design Concept in Serbia date: 2017-12-25 words: 3362 flesch: 54 summary: A larger number of trade union organizations is present in the public sector. However, the impact of HRM practice in different segments varies from country to country (Lekovic, Stangl-Susnjar, 2010). keywords: cranet; employees; hrm; impact; management; organizations; sector; unions; work cache: ea-546.pdf plain text: ea-546.txt item: #250 of 301 id: ea-547 author: Pešaković, Gordana title: Global Economy 1987-2017 – Unpredictability of Predictability date: 2017-12-25 words: 3828 flesch: 50 summary: Formulated by John Williamson in 1989 (focused on economic development in Latin America) and was later expended by International Financial Institutions and the US Treasury. South Korea’s membership to the exclusive club of the most developed countries enabled significant foreign investment into the country which facilitated economic development, while making country more receptive to the global financial market’s swings. keywords: consensus; convergence; countries; crisis; development; economy; financial; globalization; market; new; world cache: ea-547.pdf plain text: ea-547.txt item: #251 of 301 id: ea-548 author: Kocevska Shapkova, Katerina; Makrevska Disoska, Elena title: Influence of Trade and Institutions on Economic Growth in Transitional Economies: Evidences from Countries from Central and Eastern Europe and Western Balkans date: 2017-12-25 words: 5322 flesch: 56 summary: The importance of institutions and free trade for economic growth is widely acknowledged in recent economic literature. In this paper we are focused on determining the fractional effects of changes of institutions and trade on economic growth as dependent variable. keywords: capita; countries; economic; gdp; growth; institutions; law; model; rule; trade; variable; western cache: ea-548.pdf plain text: ea-548.txt item: #252 of 301 id: ea-549 author: Lapshina, Kseniia; Bakaeva, Natalia; Sotnikova, Olga title: Economic Efficiency of Implementation of the Concept of Sustainable Development of the Urbanized Territories in Russia date: 2017-12-25 words: 6030 flesch: 30 summary: The understanding of the events which are taking place both around the person and in him, are extremely important for individual needs of the person and for city life. Reliability It is necessary to create Constitution of the city according to which the city has to play the role in the constellation of other cities adequately: capital (of country, of region, of district), monoprofile or industrial city, resort, military base, city university, shopping center and many other things. keywords: biosphere; cities; city; development; economy; environment; functions; knowledge; life; people; person; principle; system cache: ea-549.pdf plain text: ea-549.txt item: #253 of 301 id: ea-550 author: Ganić, Mehmed; Dizdarević, Alina; Mamuti, Agim title: Assessing a Currency Substitution Persistency in the Western Balkan Region date: 2017-12-25 words: 5675 flesch: 50 summary: pre crises crises post crises 52 Economic Analysis (2017, Vol. 50, No. 3-4, 43-54) different from one to another sub periods (before of the financial crisis, in wake of the financial crisis, and after the financial crisis).The means for the three sub periods are the same for selected variables is tested as the main hypothesis. Finally, the study found that deposit euroisation, credit euroization, and liabilities euroization in seven Western Balkan countries is still high with relatively high degree of heterogeneity. keywords: countries; crisis; croatia; currency; deposits; euroisation; period; post; western cache: ea-550.pdf plain text: ea-550.txt item: #254 of 301 id: ea-551 author: Agrawal, Reena title: Disruption in Banking in Emerging Market Economy: An Empirical Study of India date: 2017-12-25 words: 5307 flesch: 54 summary: It has entered into a joint venture with State Bank of India for setting up payments banks. They cover all payments and transfers made through electronic formats, including online payments, mobile payments and crypto- currencies through instruments such as mobile wallets, digital wallets and contact-less cards. keywords: bank; banking; cards; customer; digital; india; market; mobile; money; payment; players; services; space; technology; wallet cache: ea-551.pdf plain text: ea-551.txt item: #255 of 301 id: ea-552 author: Neogradi, Slađana title: Methodology of Credit Analysis Development date: 2017-12-25 words: 5181 flesch: 52 summary: Key words: loan, credit analysis, credit risk, credit process, assessment of creditworthiness JEL Classification: J21, E0 INTRODUCTION Credit policy is the one that directs credit placements into priority economic branches and sectors, ensuring the stability of an individual bank as a lender. Among the existing approaches to measuring credit risk, the key input for each of them is the existence and use of the borrower's credit rating (Carey & Hrycay, 2001). keywords: analysis; assets; banks; capital; cash; company; credit; group; interest; liabilities; loan; loss; risk; term cache: ea-552.pdf plain text: ea-552.txt item: #256 of 301 id: ea-56 author: Kožarić, Amra title: Instabilities, Crises and Agenda for Possible Reform of   the International Monetary System and the International   Financial Architecture in the XXI Century date: 2017-09-25 words: 4722 flesch: 24 summary: [IMF,(2007), 9‐15.]  Proposals and suggestions for the reform go in two lines: the first one, is consideration of re‐ shaping the goals and models of the current international monetary system and the other one, is  establishing the different, but new tools, rules for system and new international financial institu‐ tions, with new missions and functions («new rules of the game»).  However,  the most unsuccessful and vulnerable are shown by developing countries and countries in transi‐ tion (emerging nations). keywords: countries; crises; financial; global; international; monetary; reform; system cache: ea-56.pdf plain text: ea-56.txt item: #257 of 301 id: ea-562 author: Bajramovic, Daut; Gram, Manfred title: Common Assessment Framework – Improving Organizational Performance of Municipalities in Bosnia and Herzegovina date: 2018-06-27 words: 3755 flesch: 38 summary: IMPLEMENTATION OF CAF IN BOSNIA AND HERZEGOVINA Implementation of Common Assessment Framework in municipalities was initially promoted by EDA – Agency for Development of Companies from Banja Luka and the Organization for Security and Cooperation in Europe, Mission to BiH. EDA introduced CAF methodology, in period of 2004 – 2007, to seven partner municipalities: Doboj, Doboj Istok, Doboj Jug, Maglaj, Usora, Petrovo and Gracanica. OSCE Mission to BiH worked on introduction of CAF methodology through a local governance project named Local First Initiative (Inter-Municipal Learning and Support component), which was implemented in period of 2009 – 2012. keywords: assessment; bih; caf; implementation; management; municipalities; public; quality; sector; self cache: ea-562.pdf plain text: ea-562.txt item: #258 of 301 id: ea-563 author: Stanetić, Vedran title: A proposal of the model of international marketing research as information basis in game theory date: 2018-06-27 words: 10660 flesch: 49 summary: ea_2018_1-2 DOI: 10.28934/ea.18.51.12.pp18-36 SCIENTIFIC PAPER A Proposal of the Model of International Marketing Research as Information Basis in Game Theory Vedran Stanetić1* 1 Supreme Office for the Republic of Srpska Public Sector Auditing, financial auditing, Banja Luka, Republic of Srpska, BiH ABSTRACT Analyzing the theory of games In addition, the greater practical representation of game theory is avoided by the numerous assumptions and limitations set by the particular model of a particular game, and whose practical foundation does not always have to be realistic. keywords: analysis; business; data; decision; game; game theory; information; knowledge; marketing; model; players; processing; research cache: ea-563.pdf plain text: ea-563.txt item: #259 of 301 id: ea-568 author: Agrawal, Reena title: Review of Initiatives taken by the Government and the Banking Regulator for Successful Transition to a Financially Inclusive Economy: An Empirical Study of India date: 2019-06-24 words: 7217 flesch: 50 summary: In India, for decades, banks were responsible for financial inclusion. Microsoft Word - ea 2019 1-2 ver 4.docx DOI: 10.28934/ea.19.52.12.pp81‐96 SCIENTIFIC REVIEW Review of Measures taken by the Government and the Banking Regulator for Successful Transition to a Financially Inclusive Economy: An Empirical Study of India Reena Agrawal1* 1 Jaipuria Institute of Management, Finance & Accounting and Entrepreneurship, Vineet Khand, Gomti Nagar, Lucknow India ABSTRACT The current study was done to evaluate the measures used by the Government of India and Indian Banking Regulator ‐Reserve Bank of India to promote financial inclusion in India. keywords: accounts; areas; bank; banking; cent; digital; financial; government; inclusion; india; inr; mobile; payment; post; rbi; reserve; services; technology cache: ea-568.pdf plain text: ea-568.txt item: #260 of 301 id: ea-570 author: Batrićević, Ana; Joldžić, Vladan; Stanković, Vera; Paunović, Nikola title: Solving the Problems of Rural as Environmentally Desirable Segment of Sustainable Development date: 2018-06-27 words: 13606 flesch: 33 summary: Obstacles for sustainable rural development include: uncultivated agricultural lands, soil pollution, insufficient irrigation or draining, agricultural lands fragmentation, poor infrastructure, inadequate tax policy, uncompleted restitutions, long probate proceedings and financially uncertain position of land-owners. The paper contributes to a better understanding of the relationship between sustainable rural development and environment protection, emphasizing the possibility to preserve nature and increase incomes of rural communities through green agriculture, small farm production and eco-tourism. keywords: activities; agriculture; areas; banks; business; concept; csr; development; environmental; gazette; law; market; montenegro; national; protection; republic; resources; responsibility; serbia; social; strategy; sustainable cache: ea-570.pdf plain text: ea-570.txt item: #261 of 301 id: ea-572 author: Todorovic, Zoran title: Green economy and indicators of sustainable and ecological development date: 2018-06-27 words: 6620 flesch: 37 summary: Providing access at the European level to the knowledge infrastructure, taking into account the socio-economic potential of modern small and medium-sized enterprises as a driver of sustainable economic development; 108 Economic Analysis (2018, Vol. 51, No. 1-2, 103-119) • A comprehensive public support as a necessary prerequisite for effective implementation • access to spatial development policy; Key words: green economy, sustainable development, green economy policy, traditional economy, sustainable development indicators JEL Classification: Q57 INTRODUCTION keywords: areas; chart; development; economy; environmental; field; municipalities; protection; respondents; state; world cache: ea-572.pdf plain text: ea-572.txt item: #262 of 301 id: ea-575 author: Naqvi, Hasnain; Adžić, Slobodan; Zakić, Nebojša; Ratković, Milijanka; Ahmad, Israr title: Impact of Exports on Economic Aggregates of Pakistan date: 2018-06-27 words: 5412 flesch: 56 summary: In general Pakistan exports showed an increasing trend both in terms of value and quantity. This indicates inflating volume of Pakistan external trade. keywords: agriculture; exports; farm; households; non; pakistan; simulation; table; trade cache: ea-575.pdf plain text: ea-575.txt item: #263 of 301 id: ea-576 author: Raicevic, Milica; Medenica Mitrovic, Dijana title: Social responsibility of banks in the function of comparative advantage on the market date: 2018-06-27 words: 6388 flesch: 36 summary: It should also be taken into account that there is another aspect that reflects the importance of social responsibility, and that is the reporting on corporate social responsibility which should be included in the results and reporting on the company's overall business operations. Through qualitative analysis of the available data, the advantages and disadvantages of corporate social responsibility of banks in Montenegro were considered, as well as which CSR activities are most represented and which still have the capacity to be improved and involved in the marketing strategies of the banks in Montenegro. keywords: activities; banking; banks; business; community; company; concept; csr; market; montenegro; responsibility; social cache: ea-576.pdf plain text: ea-576.txt item: #264 of 301 id: ea-582 author: Lozanoska, Aleksandra; Janeska, Verica; Djambaska, Elizabeta title: Demographic Changes and Sustainable Demographic Development in the Western Balkans date: 2018-06-27 words: 9124 flesch: 49 summary: In the observed period the increase of the employment rates of older women in EU28 is also more emphasized and significantly higher than in Western Balkan countries. The data in Table 3 shows that in the last decade Western Balkan countries were faced with unfavourable changes, because majority of them noticed certain population decrease. keywords: age; balkan; changes; countries; data; development; increase; life; population; western cache: ea-582.pdf plain text: ea-582.txt item: #265 of 301 id: ea-583 author: Ayyagari, Madhavi; Parahoo, Sanjai; Harvey, Heather Lea title: Marketing of Public Services date: 2018-06-27 words: 8860 flesch: 47 summary: The empirically validated travel behavior model in public transport services in Dubai, identified and highlighted the major role of reputation as a driver of passenger loyalty, contributes a new insight to the sparse literature of public transport usage which has so far emphasized mainly service quality and passenger satisfaction to drive usage. “Value co-creation as a determinant of success in public transport services: A study of the Swiss Federal Railway operator (SBB).” keywords: consumer; customer; dubai; dubai metro; engagement; journal; loyalty; management; marketing; metro; model; mrt; passengers; public; quality; reputation; satisfaction; service; service quality; study; transport; value cache: ea-583.pdf plain text: ea-583.txt item: #266 of 301 id: ea-587 author: Domazet, Ivana; Stošić, Ivan; Lazić, Milena title: Competitive relations in the aftersales market of major appliances in Serbia date: 2018-06-27 words: 7100 flesch: 39 summary: When speaking about independent major appliances services, there is around 1000 of such companies in the territory of the Republic of Serbia who perform their activities outside the warranty period. CONCLUSIONS On the basis of the conducted research and analysis, it can be concluded that the major appliances aftersales service market is in many ways different from the classic product or some other type of services market, for several reasons: 3 Five-year warranties were recorded during the period of realization of this research, and they can be related to a certain period of time of promotional campaigns or the consequence of conforming with current trands in the industry. keywords: aftermarket; analysis; appliances; competition; market; number; parts; period; research; serbia; services; warranty; warranty period; washing cache: ea-587.pdf plain text: ea-587.txt item: #267 of 301 id: ea-596 author: Stošić, Ivan title: Notes from of new Editor-in-Chief date: 2018-06-27 words: 396 flesch: 33 summary: On behalf of all the members of our new Editorial Board (Ivana Domazet, Vladimir Simović, Jelena Minović, Sonja Đuričin, Duško Bodroža), I would like to point out that we want that this change will mark the beginning of a new stage of Journal development as we seek to position Economic Analysis among leading journals in the field economic analysis with special focus on emerging countries. However, over the next few years we shall work hard to build up a Journal with a successful international reputation, publishing high quality research data, which will be abstracted and indexed in the main journal databases. keywords: editorial; journal cache: ea-596.pdf plain text: ea-596.txt item: #268 of 301 id: ea-599 author: Hafnati, Nurul; Syahnur, Sofyan title: Inflation, Unemployment and NAIRU Estimate in Indonesia: Phillips Curve Approach date: 2018-12-27 words: 4460 flesch: 58 summary: An empirical study on inflation and unemployment rate were then developed by Samuelson and Solow (1960) who found a trade-off between inflation rate and unemployment rate in the United States. Further development on Phillips curve phenomenon was proposed by Friedman (1968) and Phelps (1968) stating that trade off between inflation rate and unemployment rate will occur only in the short run. keywords: inflation; nairu; phillips; rate; relationship; test; unemployment cache: ea-599.pdf plain text: ea-599.txt item: #269 of 301 id: ea-628 author: Araujo, Andrea; Simões, Marta title: Productive Specialisation and Growth in the EU15 date: 2018-12-27 words: 7380 flesch: 41 summary: Additionally, as far as comparing manufacturing and services activities is concerned, the results indicate that a productive specialisation pattern towards manufacturing activities classified as very low and low is more harmful for growth than specialisation in the equivalent categories but in services activities. Services activities that require low educated workers make a negative growth contribution. keywords: activities; countries; economic; growth; manufacturing; medium; peneder; productivity; sector; services; taxonomy cache: ea-628.pdf plain text: ea-628.txt item: #270 of 301 id: ea-630 author: Rabrenović, Jovan title: Comparative Analysis of Tourist Brand of Montenegro and Croatia date: 2018-12-27 words: 5848 flesch: 51 summary: Strategic goals Applying the principle and goals of sustainable development, Montenegro will create strong position of global high quality tourist destination; for citizens of Montenegro tourism will provide enough working positions and growth of standard of living and the country will generate revenues at stable and confident manner. The logo of the tourist brand of Montenegro is in application significantly longer than the logo of Croatia.3 Although both designs have suffered public criticism, they are still in use, although it is noticeable that the logo of Montenegro tourism has needed a long time ago to be refreshed or approached to create a new logo. keywords: brand; countries; country; croatia; data; development; gdp; montenegro; period; tourism cache: ea-630.pdf plain text: ea-630.txt item: #271 of 301 id: ea-633 author: Kutlača, Đuro title: In Search for RIS3 for the Republic of Serbia: Challenges Between Theory and Reality date: 2018-12-27 words: 4622 flesch: 27 summary: Integration of all indicators used for quantitative analysis presented within these two steps is done using Excel table with calculated values, selecting NACE 3-digit sectors they fulfil conditions – predefined thresholds (Kroll et al., 2017): • Region RS11 Belgrade: − Priority sectors: Computer Programming and ICT; R&D and Technical Consultancy; Creative Economy; Monetary Intermediation, − Potentially emerging innovative sectors: Beverages, Pharmaceuticals, Electrical Components, Transport Equipment, Đuro Kutlača 5 − Science based sectors: various; • Region RS12 Vojvodina: − Priority sectors: Automotive; Agricultural Economy (including processing industries); Petrochemical Industry; Plastics Industry; − Potentially emerging innovative sectors: Agricultural Machinery, Measurement Instruments − Science based sectors: Computer Science, Telecommunications • Region RS21 Šumadija and Western Serbia: − Priority sectors: Agri-/Horti-/Silvicultural Economy (including processing industries); Automotive; Textile Industry; Plastics Industry; Metal Industry; − Potentially emerging innovative sectors: Special Purpose Machinery − Science based sectors: mechanical engineering, pharmacy • Region RS22 Southern and Eastern Serbia: − Priority sectors: Agri-/Horticultural Economy (including processing industries); Textile Industry; Rubber Industry; Electrical Engineering; − Potentially emerging innovative sectors: Food Products, Medical and Dental − Science based sectors: electrical engineering IMPLEMENTATION OF S3 IN SERBIA: CHALLENGES BETWEEN PROPOSED METHODOLOGY AND REAL SITUATION IN COUNTRY Rigidity of the proposed method of selection with threshold of LQ>1.5 and even with reduced threshold of LQ>1.25 should be welcomed by the wider public as ability to make priorities without compromise. During the year 2017, and according to road map, major activities belong to phase 2 (or Step 1), i.e. both external experts and domestic Analytical teams were engaged in quantitative analysis of available statistical data with aim to identified priority sectors in economy of Serbia which development should be relied on R&I activities. keywords: analysis; development; economy; implementation; nace; policy; priority; ris3; sectors; serbia cache: ea-633.pdf plain text: ea-633.txt item: #272 of 301 id: ea-639 author: Caseiro, Cláudia; Simões, Marta C. N. title: Business Sector Innovation and Economic Growth a Comparative Analysis Between EU Countries date: 2019-06-24 words: 16108 flesch: 41 summary: Cláudia Caseiro, Marta Simões 15 Table 2. Results of the estimation of model 2 (fixed effects), 28 EU countries, 2008‐2015 Explanatory variables Dependent variable ‐ a Growth rate of real GDP per capita I II III IV V VI VII VIII IX Constant 2.64*** 2.66*** 2.62*** 2.71*** 2.69*** 2.76*** 2.70*** 2.66*** 2.61*** lnGDPrpci.t‐1 −0.3653*** −0.3736 *** −0.369 *** −0.3839 *** −0.3737 *** −0.3868 *** −0.3753 *** −0.3714 *** −0.3711 *** GCFi.t 0.6476 *** 0.6504 *** 0.6708 *** 0.615 *** 0.6615 *** 0.7029 *** 0.6674 *** 0.6524 *** 0.6389 *** HCi.t‐1 0.0094 *** 0.0097 *** 0.0095 *** 0.0096 *** 0.0097 *** 0.0102 *** 0.0099 *** 0.0097 *** 0.001 *** Gov_consi.t −1.1774 *** −1.1703 *** −1.081*** −1.218*** −1.124*** −1.149*** −1.1*** −1.16*** −1.19*** Globi.t 0.007*** 0.007*** 0.007*** 0.007*** 0.007*** 0.007*** 0.007*** 0.007*** 0.007 *** Export_HTi.t −0.000518 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Export_Servi.t ‐ 0.000674 ‐ ‐ ‐ ‐ ‐ ‐ ‐ INOV_Ei.t ‐ ‐ −0.0121 ‐ ‐ ‐ ‐ ‐ ‐ TRAIN_EMPi.t ‐ ‐ ‐ 0.0032 ** ‐ ‐ ‐ ‐ ‐ ProdProc_INOVi.t ‐ ‐ ‐ ‐ −0.000554 ‐ ‐ ‐ ‐ MarkOrg_INOVi.t ‐ ‐ ‐ ‐ ‐ −0.0011 * ‐ ‐ ‐ INO_SME.t ‐ ‐ ‐ ‐ ‐ ‐ −0.0012 ‐ ‐ COOP_INOVi.t ‐ ‐ ‐ ‐ ‐ ‐ ‐ −0.0002 ‐ Sales_INOVi.t ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ 0.0008 D1 0.0106 0.0107 0.0085 0.0102 0.0105 0.0095 0.0095 0.0107 0.0103 D2 0.0279 * 0.0282 * 0.026 0.0267 * 0.0259 0.0251 0.024 0.0277 * 0.0284 * LSDV R2 0.6122 0.612 0.6155 0.6234 0.6127 0.6195 0.616 0.6118 0.6133 R2 within 0.5437 0.5434 0.5475 0.5568 0.5442 0.5522 0.548 0.5431 0.5449 AIC (Akaike) −765.103 −764.99 −766.73 −770.81 −765.33 −768.79 −766.99 −764.87 −765.64 BIC (Schwarz) −647.09 −646.98 −648.72 −652.80 −647.32 −650.78 −648.98 −646.85 −647.62 Hannan‐Quinn (HQ) −717.33 −717.2 −718.95 −723.03 −717.56 −721.02 −719.21 −717.09 −717.86 Notes: Column I ‐ exports of medium and high‐tech products; column II ‐ exports of knowledge‐intensive services; column III ‐ innovation expenditures; column IV ‐ training of employees; column V ‐ product/ process innovations; column VI ‐ marketing/ organizational innovations; column VII ‐ % of SMEs that innovate internally; column VIII –% of SMEs cooperating with others; column IX ‐ sales of innovations. Table 1. Results of the estimation of model 1 (fixed effects), 28 EU countries, 1990‐2015 Explanatory variables Dependent variable ‐ a Growth rate of real GDP per capita I II III IV V VI Constant 0.7386 *** 0.8976 *** 0.8894 *** 0.948 *** 1.1756 *** 1.1877 *** lnGDPrpci,t‐1 −0.0932 *** −0.1167 *** −0.1169 *** −0.1249 *** −0.1456 *** −0.1297 *** GCFi,t 0.1891 *** 0.216 *** 0.2292 *** 0.2677 *** 0.0475 0.2278 *** HCi,t‐1 0.0042 0.00787 * 0.00755 0.0060 0.00885 * 0.000794 Gov_consi,t −0.0744 −0.0552 −0.0434 0.0091 −0.0191 −0.3460 *** Globi,t 0.0019 *** 0.0023 *** 0.0024 *** 0.0025 *** 0.0027 *** 0.0018 *** RDEpci,t −1.0516e‐5 ‐ ‐ ‐ ‐ ‐ RD_Staffi,t‐1 ‐ −3.1771e‐6 ‐ ‐ ‐ ‐ RES_RDi,t‐1 ‐ ‐ −3.4140e‐8 ‐ ‐ ‐ Patent_APPi,t ‐ ‐ ‐ 0.000121 ‐ ‐ Patent_Gi,t ‐ ‐ ‐ ‐ 0.0001073 ‐ Trademark_APPi,t ‐ ‐ ‐ ‐ ‐ 4.6620e‐5 *** D1 −0.00995 −0.0111 −0.0120 −0.0146 * 0.000197 −0.00953 D2 0.0143 * 0.0148 0.0135 0.0152 * ‐ 0.0231 ** LSDV R2 0.6097 0.6361 0.6369 0.6649 0.7718 0.6644 R2 dentro 0.4591 0.5561 0.5429 0.6189 0.7437 0.5465 AIC (Akaike) −635.3512 −623.6562 −605.0257 −648.7218 −554.6305 −536.4121 BIC (Schwarz) −531.8441 −519.6036 −502.0724 −542.8226 −459.4830 −439.1948 Hannan‐Quinn −593.2916 −581.3732 −563.1937 −605.6875 −516.0262 −496.9802 Notes: Column I ‐ R&D expenditures; column II ‐ total staff in R&D activities; column III ‐ researchers in R&D activities; column IV ‐ patent applications; column V ‐ granted patents; column VI ‐ registration of trademark applications. keywords: analysis; average; business; column; companies; countries; economic; eu28; group; growth; indicators; innovation; insurance; market; model; period; r&d; results; sector; sector innovation; table; total cache: ea-639.pdf plain text: ea-639.txt item: #273 of 301 id: ea-642 author: Raičević, Milica; Medenica Mitrović, Dijana title: Satisfaction and loyalty of clients towards banking products and services date: 2018-12-27 words: 5703 flesch: 48 summary: What contributes to satisfaction is building full loyalty among bank clients because clients are hitting propaganda messages that try to influence their perception. The empirical part deals with the analysis of customer satisfaction and loyalty towards banking products and services in Montenegro and how much the quality of banking services has an impact on the satisfaction and loyalty of the customer. keywords: banking; business; client; customer; loyalty; products; quality; respondents; satisfaction; services cache: ea-642.pdf plain text: ea-642.txt item: #274 of 301 id: ea-643 author: Đekić, Marija; Nikolić, Miloš; Vesić, Tamara title: Challenges and Perspectives of Development of Private Pension Funds in Serbia date: 2019-06-24 words: 6535 flesch: 51 summary: In the case of a state pension system, workers often try to reduce the excessive burden of pure taxes by adjusting their working lives and work volumes, or by switching to an informal labour market, most commonly in developing countries, where there are ways to avoid pension and other taxes. In the period after the crisis, because of the increase in unemployment and the reduction of tax revenues, the redirection of contributions to private pension insurance has become too expensive, so some countries have permanently (Hungary, Bulgaria since 2015), and some temporary (Estonia) suspended the second pillar of pension by reducing the contribution rate (Poland, Romania, Latvia, Lithuania, Slovakia) (Horstmann, 2012, p. 11) The process of globalisation, that is, the process of integration of the world economy has a great influence on the reforms of the pension system. keywords: countries; insurance; investment; number; pension; pension funds; pension insurance; pension system; pillar; reform; respondents; serbia; system cache: ea-643.pdf plain text: ea-643.txt item: #275 of 301 id: ea-644 author: Cvetkov Čikošev, Tatjana title: The Development and Implementation of the Integrated Marketing Communications Concept date: 2019-06-24 words: 9630 flesch: 37 summary: As shown in Table 1, eight major modes of communication make the marketing communications mix: the first half of the Table, advertising, sales promotion, events and PR, are considered as more mass media types of communications. Data and analytics are also changing the nature of industry competition. keywords: analytics; brand; business; communication; companies; consumers; customer; data; dimension; framework; level; marketing; marketing communications; maturity; media; new; nisotec; organisation; telecommunications; use cache: ea-644.pdf plain text: ea-644.txt item: #276 of 301 id: ea-646 author: Kiselicki, Martin; Josimovski, Saso title: Implementation of Gamification in Heis in the Republic of Macedonia date: 2018-12-27 words: 4314 flesch: 42 summary: Student motivation is analyzed through secondary research, which covers the available data by analyzing the types of motivation (intrinsic and extrinsic), as well as methods for increasing it, while the primary research is conducted through a questionnaire on students from HEIs on the territory of the Republic of Macedonia. Students rarely respond to negative motivation (punishment) with 14% or because of other students (10%), while a fairly large percentage of students (28%) do not participate in class or do homework activities. keywords: education; games; gamification; learning; motivation; research; students; tasks; video cache: ea-646.pdf plain text: ea-646.txt item: #277 of 301 id: ea-647 author: Dima, Bogdan; Dima, Stefana Maria title: Do Business Regulations Promote Growth in Low-income Countries? date: 2018-12-27 words: 11422 flesch: 49 summary: This raises several subsequent questions, which are critical for the proper specification of growth models: Which variable xr from the set {x} should be included in the ‘true’ model? A key point in the selection of the priors relates to the fact that, in large growth models, there is a relatively high degree of uncertainty: while for standard determinants of growth is somehow easier to formulate ex ante evaluations, the impact of institutions, policies and culture on growth is less straightforward. keywords: business; countries; cpia; development; dima; economic; environment; growth; impact; institutions; journal; level; model; policies; policy; posterior; quality; rating; regulations; variable; world cache: ea-647.pdf plain text: ea-647.txt item: #278 of 301 id: ea-651 author: Marjanović, Darko title: Competitiveness of the Serbian Economy Through the Prism of Tax Incentives for Foreign Investors date: 2018-12-27 words: 5142 flesch: 46 summary: Tax incentives in paying income tax by citizens 28 (31,8) 14 (15,9) 26 (29,5) 14 (15,9) 6 (6,8) 2,5000 1,27757 1,632 Source: authors` calculations The existence of statistically significant differences between foreign investors in assessing the significance of tax incentives in certain areas for the business of foreign investors in Serbia was investigated through the t-test of independent samples. In this paper, special attention will be given to tax incentives in certain areas for the business of foreign investors, depending on the way foreign investors enter the Serbian market. keywords: business; competition; incentives; investment; investors; market; serbia; tax; tax incentives cache: ea-651.pdf plain text: ea-651.txt item: #279 of 301 id: ea-654 author: Milojević, Miroslav title: The State of Public Enterprise Financial Reporting in Serbia date: 2018-12-27 words: 5843 flesch: 41 summary: Public enterprises must conform to the above regulations, while the provisions of the Law on Public Enterprises represent special forms applicable only to public enterprises. Public enterprises are in the hands of political parties and there is no decisive power in sight which would be able to break the bond between the political parties and public enterprises. keywords: conditions; economy; enterprises; management; public; quality; reporting; serbia; state; statements cache: ea-654.pdf plain text: ea-654.txt item: #280 of 301 id: ea-655 author: Kirin, Snežana; Gavrić, Gordana; Kirin, Sandra title: Organizational Culture in Serbian Companies According to the Denison Model date: 2019-06-24 words: 4682 flesch: 39 summary: These requirements are incorporated into Denison's model of organisational culture, applied in this research on companies in Serbia. Nowadays, a company’s flexibility is the most important factor for its survival, presented by its ability to meet new habits, tastes and needs of consumers and customers, as well as to change the way of treating employees because they want to become important subjects of business by engaging in more decision‐making. Companies that fail to rapidly adjust to the new demands of the global market, would stay behind or taken over by stronger and more successful entrepreneurial players. keywords: business; company; culture; denison; employees; mission; model; organisation; values cache: ea-655.pdf plain text: ea-655.txt item: #281 of 301 id: ea-659 author: Jovanovic, Olivera; Zubović, Jovan; Vladisavljević, Marko; Bodrož, Duško; Ljumović, Isidora; Domazet, Ivana; Đukić, Mihajlo title: Estimation of Tobacco Products Price and Income Elasticity using Aggregate Data date: 2018-12-27 words: 5501 flesch: 56 summary: The equation for cigarette demand model which includes tobacco control policy index or regulatory variables like tban or law1 is given in 1.5. Several measures of cigarette consumption and cigarette price have been accounted for and tested their properties to assess their suitability for our models. keywords: cigarette; consumption; demand; elasticity; income; model; price; run; serbia; tobacco; variables cache: ea-659.pdf plain text: ea-659.txt item: #282 of 301 id: ea-664 author: Stošić, Ivan title: Notes from of new Editor-in-Chief date: 2018-12-27 words: 396 flesch: 33 summary: On behalf of all the members of our new Editorial Board (Ivana Domazet, Vladimir Simović, Jelena Minović, Sonja Đuričin, Duško Bodroža), I would like to point out that we want that this change will mark the beginning of a new stage of Journal development as we seek to position Economic Analysis among leading journals in the field economic analysis with special focus on emerging countries. However, over the next few years we shall work hard to build up a Journal with a successful international reputation, publishing high quality research data, which will be abstracted and indexed in the main journal databases. keywords: editorial; journal cache: ea-664.pdf plain text: ea-664.txt item: #283 of 301 id: ea-725 author: Kaličanin, Tijana; Kamenkovic, Sandra; Simeunović, Ivana title: Comparative Analysis of Insurance Pemiums in Serbia and Bosnia and Herzegovina - Multiple Linear Regression Analysis Model date: 2019-06-24 words: 5485 flesch: 45 summary: Haiss and Sumegi presented very extensive research in 2008, which led to the conclusion that there is a correlation between insurance and GDP growth in EU‐15 countries with developed financial markets as well as short‐term linkages between GDP and non‐life premiums on a sample of CEE countries. Microsoft Word - ea 2019 1-2 ver 4.docx DOI: 10.28934/ea.19.52.12.pp23-35 ORIGINAL SCIENTIFIC PAPER Comparative Analysis of Insurance Premiums in Serbia and Bosnia and Herzegovina ‐ Multiple Linear Regression Analysis Model Tijana Kaličanin1* | Sandra Kamenković1 | Ivana Simeunović1 1 University Union, Belgrade Banking Academy ‐ Faculty of Banking, Insurance and Finance, Belgrade, Serbia ABSTRACT In the last few years keywords: analysis; companies; insurance; insurance companies; insurance market; market; number; period; serbia; total cache: ea-725.pdf plain text: ea-725.txt item: #284 of 301 id: ea-728 author: Anđelković, Danijela; Zubac, Danijela title: The Impact of Accounting Harmonization on Financial Statements Quality in Serbia date: 2019-06-24 words: 5804 flesch: 29 summary: The new Law on Accounting was created according to the EU provisions, and therefore Croatia, as well as most of the EU countries, does not require the mandatory implementation of IFRS for all companies, but only for those large listed companies or those preparing for listing. Are IFRS and US GAPP‐based accounting amounts comparable?, Journal of Accounting and Economics, Volume 54, 68‐93, Elsevier B.V. Đuričin, S. (2012). keywords: accounting; accounting standards; companies; enterprises; ias; ifrs; international; reporting; standards; statements cache: ea-728.pdf plain text: ea-728.txt item: #285 of 301 id: ea-740 author: Erić, Dejan; Stošić, Ivan; Dapčević, Vuk title: Post-Merger Performance in Financial Service Industry: A Case of the Republic of Serbia date: 2019-12-09 words: 7570 flesch: 51 summary: The second category, M&A banks, due to the takeover of banks with a certain level of bad placements, had a higher indicator than the average, but due to more stringent credit policies and faster growth of assets relative to domestic banks, it quickly returned to the sector average. Perhaps surprisingly, it is noticeable that at the very beginning of the observed period, domestic banks achieved high profitability rates, while both categories of foreign banks were below the average. keywords: analysis; banking; banking sector; banks; capital; foreign; group; m&a; m&a banks; market; performance; period; post; profitability; sector; serbia cache: ea-740.pdf plain text: ea-740.txt item: #286 of 301 id: ea-743 author: Ljumović, Isidora; Milojkić, Ivana Lečovski; Obradović, Vladimir title: What Drives Private Equity and Venture Capital in Central and Eastern Europe Countries: Focus on Serbia date: 2020-06-22 words: 7577 flesch: 53 summary: In CEE, fundraising peaked in 2008, but under the delayed influence of financial crises, PE investments decreased by about 50% by 2010. After this period PE investments remained relatively stable until 2016. keywords: analysis; business; capital; cee; countries; economic; equity; investments; market; serbia; tax; total; venture cache: ea-743.pdf plain text: ea-743.txt item: #287 of 301 id: ea-745 author: Trenevska Blagoeva, Kalina; Mijoska, Marina title: Assessing Organizational Maturity in Predictive Analytics of Telecommunications Companies in the Republic of Macedonia date: 2019-06-24 words: 4287 flesch: 32 summary: Based upon the maturity of these processes, the APMM framework of Grossman (2018), organizations can differ i.e. reach five maturity levels defined as: level 1 ‐ organizations that can build reports level 2 ‐organizations that can build and deploy models; level 3 ‐ organizations that have repeatable processes for building and deploying analytics; level 4 ‐organizations that have consistent enterprise‐wide processes for analytics; and level 5 ‐ enterprises whose analytics is strategy driven. Data and analytics are also changing the nature of industry competition. keywords: analytics; business; companies; data; dimension; level; maturity; organisation; telecommunications cache: ea-745.pdf plain text: ea-745.txt item: #288 of 301 id: ea-746 author: Radović-Marković, Mirjana; Brnjas, Zvonko; Simović, Vladimir title: The Impact of Globalization on Entrepreneurship date: 2019-06-24 words: 7592 flesch: 40 summary: INFORMATION TECHNOLOGIES AND ENTREPRENEURSHIP The development of information technology, the internationalization of businesses, globalization and other processes whose influence on the development of entrepreneurship is analyzed in the previous part of this paper are inextricably linked to the development of the Internet as a global medium, which by its occurrence has drastically changed the way companies conduct their business operations, led to the emergence of new business models and the creation of a new, unique virtual market. 64 Economic Analysis (2019, Vol. 52, No. 1, 56-68) With its occurrence, the Internet has led to the emergence of new business models, many of which could not even be imagined before the emergence of the Internet. keywords: business; business model; companies; development; economic; economy; entrepreneurship; family; globalisation; internet; market; markovic; model; new; smes cache: ea-746.pdf plain text: ea-746.txt item: #289 of 301 id: ea-75 author: Radović-Marković, Mirjana title: Letter from the Editor-in-Chief date: 2017-09-26 words: 267 flesch: 66 summary: It is our wish to get to ISI list among the world’s most prestigious scientific journals with its quality of works and articles and with the variety of its contents. All of them will be objectively examined by independent, non- partial language experts as I planned to include periodically a foreign guest editor or to publish thematic issues of the Journal. keywords: journal cache: ea-75.pdf plain text: ea-75.txt item: #290 of 301 id: ea-756 author: Dimić, Maja; Paunović, Svetislav title: Concentration Measuring Techniques in Banking Sector-Lorenz Curve and Gini Coefficient date: 2019-12-09 words: 6345 flesch: 46 summary: In order to obtain clearer images of market concentration in the financial sector, recommendation to decision-makers in referent institutions and regulatory bodies is to include a greater number of concentration indicators in their reporting on the level of concentration in the banking sector, which can contribute to a more precise definition of adequate policies and legal regulations in this area. The paper presents the indicators of market concentration in the banking sector with a focus on the Lorenz curve and the Gini coefficient. keywords: banking sector; banks; coefficient; concentration; concentration indicators; countries; gini; indicators; level; market cache: ea-756.pdf plain text: ea-756.txt item: #291 of 301 id: ea-757 author: Mitić, Petar; Kresoja, Milena; Minović, Jelena title: A Literature Survey of the Environmental Kuznets Curve date: 2019-06-24 words: 9431 flesch: 43 summary: Findings revealed that the EKC hypothesis is rejected, i.e., provide evidence against the postulated inverted‐U shaped relationship between pollution and the level of economic development. Another interesting group of countries is the Organisation for Economic Co‐operation and Development (OECD). Testing the EKC hypothesis in countries classified by income was also performed by Shahbaz et al. (2019). keywords: co2; countries; curve; development; economic; ekc; ekc hypothesis; emissions; energy; environment; growth; hypothesis; income; kuznets; relationship cache: ea-757.pdf plain text: ea-757.txt item: #292 of 301 id: ea-758 author: Mirović, Vera; Kalaš, Branimir; Andrašić, Jelena title: The Modelling of Tax Influence on Macroeconomic Framework in Spain date: 2019-12-09 words: 3837 flesch: 54 summary: Also, tax revenue growth and corporate income tax have a negative influence on gross domestic product capita, while personal income tax, tax on property and social security contributions positively affect the gross domestic product per capita. Empirical analysis has included OLS model which has estimated the influence of tax revenue growth, personal income tax, corporate income tax, tax on property and social security contributions on main macroeconomic aggregates such as gross domestic product per capita, unemployment, inflation, investment and government expenditures. keywords: economic; government; growth; income; income tax; personal; tax; taxes cache: ea-758.pdf plain text: ea-758.txt item: #293 of 301 id: ea-759 author: Stošić, Ivan; Bodroža, Duško; Đukić, Mihajlo title: Analysis of Cooperation Between Science and Business in the Function of Improving the Effectiveness of the Republic of Serbia Economic Growth date: 2019-06-24 words: 4745 flesch: 34 summary: Until now, an efficient way of linking science and economy has not functioned, neither to ensure the mobilisation and capitalisation of knowledge and research, nor their coordination. This renewal can be achieved by transferring knowledge, education and extending the scope of existing knowledge through research, which we call science (Babić, 2013). keywords: business; cooperation; development; economy; republic; research; science; serbia; total; works cache: ea-759.pdf plain text: ea-759.txt item: #294 of 301 id: ea-76 author: Bazin, Damien; Bhukuth, Augendra title: An Analysis of Parentsʹ Strategies of Child Labour and Education in Developing Countries date: 2017-09-26 words: 6026 flesch: 57 summary: Formal education must appear to enable social mobility in order to encourage parents to invest in formal education. We distinguish four categories of education: formal education, vocational training, non-formal education and informal education, implying that child labour and education analysis is no more binary. keywords: child; child labour; children; economic; education; households; labour; market; non; parents; sector cache: ea-76.pdf plain text: ea-76.txt item: #295 of 301 id: ea-766 author: Štaka, Mirjana title: Market Analysis on the Presence of Social Responsibility in Companies in Bosnia and Herzegovina date: 2019-12-09 words: 2562 flesch: 46 summary: Corporate social responsibility will be examined through economic, social, environmental and ethical dimension. This paper will explain the dimensions of corporate social responsibility, to point out the many benefits arising from the application of such business practices and potential problems that may occur. keywords: activities; business; companies; company; development; responsibility cache: ea-766.pdf plain text: ea-766.txt item: #296 of 301 id: ea-768 author: Yao, Jianfeng; Fu, Duanxiang title: A Comparative Study of Minimum Wage and Employment in China and in the United States date: 2019-12-09 words: 5117 flesch: 57 summary: After controlling for unobserved heterogeneities by using the fixed effect estimations, the results show a significant and negative correlation between real minimum wage and employment rate in both countries, with a smaller and weaker effect of real minimum wage in China. Other control variables include the interaction term the between real minimum wage and real average wage and time trend. keywords: china; effect; employment; labor; minimum; minimum wage; wage cache: ea-768.pdf plain text: ea-768.txt item: #297 of 301 id: ea-77 author: Ćulahović, Besim; Brnjas, Zvonko title: Business Operation and Technology Strategy date: 2017-09-28 words: 5271 flesch: 34 summary: Microsoft Word - 2009_1_2.doc Business Operation and Technology Strategy Besim Ćulahović, University of Sarajevo Faculty of Economics and Business Administration, Sarajevo, B&H Zvonko Brnjas, Belgrade Banking Academy, Belgrade, Serbia JEL: L2, 032 Technology strategy: some key elements Defining technology strategy: key foundation and questions Conventionally, the broad objective of technology strategy is to guide a firm in acquiring, developing and applying technology for competitive advantage. Three foundation of Technology strategy At the firm level these strategic choices get translated into a variety of decisions which cut across functional boundaries. keywords: assets; business; firms; innovation; management; new; product; strategy; technologies; technology cache: ea-77.pdf plain text: ea-77.txt item: #298 of 301 id: ea-773 author: Lazić, Milena; Domazet, Ivana title: Theoretical and Practical Foundations of Inflation Targeting with Special Emphasis on the Experience of Serbia date: 2019-12-09 words: 5048 flesch: 46 summary: Implementation of the inflation targeting implies that the central bank sets an explicit target in terms of the level of inflation rate, which necessarily affects the increase in the level of transparency, i.e. the establishment of the credibility of the monetary policy process. EXPERIENCE OF SERBIA IN IMPLEMENTING INFLATION TARGETING Over the past two decades Serbian economy has been characterized by price volatility and high inflation rates, inadequate monetary policy and a very weak and underdeveloped financial system (Vilaret, Pješčić, & Đukić, 2009). keywords: bank; countries; economic; inflation; inflation rate; policy; rate; regime; serbia; strategy; targeting cache: ea-773.pdf plain text: ea-773.txt item: #299 of 301 id: ea-809 author: Kobilarev, Mina; Živanović, Branko title: The Offer of Financial Derivatives in the Banking Sector of the Republic of Serbia date: 2019-12-09 words: 11710 flesch: 47 summary: Barjaktarović M. et al., (2017) concluded that commercial banks and monetary regulators should continue in the direction of creating a good climate for further development of financial derivatives market. Key words: risk management, banking sector, financial derivatives, corporate finance, hedging JEL Classification: G21, G32 INTRODUCTION Serbia is an economy in transition which records elevated instability as to its exchange rate, inflation and other main macroeconomic indicators. keywords: banking; banks; cent; companies; currency; derivatives; derivatives market; exchange; instruments; interest; market; rate; risk; sector; serbia cache: ea-809.pdf plain text: ea-809.txt item: #300 of 301 id: ea-829 author: Glavaški, Olgica; Beker Pucar, Emilija title: Fiscal Adjustments in the European Union versus West Balkans economies: Evidence from Heterogeneous Panels date: 2020-06-22 words: 6459 flesch: 48 summary: Recent papers in this theme showed that there are fewer costs of fiscal adjustments based on public expenditure in comparison to fiscal adjustments based on austerity measures, and that way of fiscal adjustment is more important in comparison to state of the cycle (Alesina at al. 2016). Microsoft Word - 2020_ea1_final.docx DOI: 10.28934/ea.20.53.1.pp149-162 ORIGINAL SCIENTIFIC PAPER Fiscal Adjustments in the European Union versus West Balkans Economies: Evidence from Heterogeneous Panels Olgica Glavaški1* | Emilija Beker Pucar1 1 University of Novi Sad, Faculty of Economics Subotica, Department of International and European Economics and Business, Subotica, Serbia ABSTRACT This paper empirically assesses heterogeneity of fiscal adjustments in the European Union and West Balkans economies, in the circumstances when debt crisis renewed the questions when and how governments adjust their public expenditure. keywords: adjustments; balkans; economies; european; european union; expenditure; period; public; run; sustainability; test; union; west cache: ea-829.pdf plain text: ea-829.txt item: #301 of 301 id: ea-9 author: Zubović, Jovan title: Investing in Human Resources date: 2017-09-18 words: 1536 flesch: 46 summary: Education  creates knowledge, which as a result creates a need for education.  It seems that it is close for a consensus to be reached, by  which an  improvement of qualification and education of nonqualified personnel would  lead to  their easier adoption by society and reduction of inequality in wages.   keywords: education; investments; knowledge; skills cache: ea-9.pdf plain text: ea-9.txt