Pub Date : 2023-03-01DOI: 10.2478/ethemes-2023-0006
Danica Šantić, Milica Langović, Dejan Ž. Đorđević
Abstract Sustainable spatial transformation, urban governance, and the constraints of urban-rural development can be traced through migration. In the Republic of Serbia, after the rapid increase in the number of people living in urban areas due to internal migration, structural changes in settlements have begun with natural decline and emigration. However, the far-reaching effects of migration on shrinkage have received little attention in policy or practice. To shed light on and predict possible future patterns, this paper looks at the attitudes and intentions of the population towards migration and identifies determinants that influence migration plans for possible future flows inside and from the Republic of Serbia. The paper is based on data from a survey and interviews conducted in the area of the City of Leskovac (N = 1124) with the population 20 + years, local authorities, civil society and the private sector, i.e. those who play a central role in addressing the challenges and optimizing the opportunities created by the growing trend of migration. The survey results show that most respondents support the emigration process, which is mainly influenced by economic factors. In this context, the trend of emigration is expected to continue in the future, and it is perceived as an obstacle to achieving sustainability goals and rarely as an opportunity.
{"title":"Urban Sustainability Through the Lens of Migration - Case Study: City of Leskovac, Serbia","authors":"Danica Šantić, Milica Langović, Dejan Ž. Đorđević","doi":"10.2478/ethemes-2023-0006","DOIUrl":"https://doi.org/10.2478/ethemes-2023-0006","url":null,"abstract":"Abstract Sustainable spatial transformation, urban governance, and the constraints of urban-rural development can be traced through migration. In the Republic of Serbia, after the rapid increase in the number of people living in urban areas due to internal migration, structural changes in settlements have begun with natural decline and emigration. However, the far-reaching effects of migration on shrinkage have received little attention in policy or practice. To shed light on and predict possible future patterns, this paper looks at the attitudes and intentions of the population towards migration and identifies determinants that influence migration plans for possible future flows inside and from the Republic of Serbia. The paper is based on data from a survey and interviews conducted in the area of the City of Leskovac (N = 1124) with the population 20 + years, local authorities, civil society and the private sector, i.e. those who play a central role in addressing the challenges and optimizing the opportunities created by the growing trend of migration. The survey results show that most respondents support the emigration process, which is mainly influenced by economic factors. In this context, the trend of emigration is expected to continue in the future, and it is perceived as an obstacle to achieving sustainability goals and rarely as an opportunity.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124909683","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-01DOI: 10.2478/ethemes-2023-0004
Marina Toger, John Östh, S. G. Persson
Abstract Using tracking technologies to measure revealed preferences can help detect locations with potential for further expansion or with risks of tourism overgrowth and consequential externalities. Understanding consumer behavior in spatio-temporal dimensions can reveal what contextual factors influence the consumption of a destination. This paper aims to contribute to knowledge on behavior-based segmentation by disaggregating spatial behavior of tourists in an intra-destination context. Behaviors were explored focusing on cruise tourists in Visby using GPS loggers and a gridded sighting experience dataset. To identify points of interest, tourists’ indicated their liking using GPS click-loggers. The results were compared to the spatial distribution of visible amenities and through a stepwise method, behavior-based segments grounded in movements and positive emotions were derived. The paper contributes to previous research on intra-destination tourist mobility by developing a method for identifying revealed behavior, and developing segments that can be used to match tourist interests to distribution of amenities. The method aims to provide stakeholders with tools that can facilitate their strategic management and marketing of a destination.
{"title":"What You See is Where You Go: Cruise Tourists’ Spatial Consumption of Destination Amenities","authors":"Marina Toger, John Östh, S. G. Persson","doi":"10.2478/ethemes-2023-0004","DOIUrl":"https://doi.org/10.2478/ethemes-2023-0004","url":null,"abstract":"Abstract Using tracking technologies to measure revealed preferences can help detect locations with potential for further expansion or with risks of tourism overgrowth and consequential externalities. Understanding consumer behavior in spatio-temporal dimensions can reveal what contextual factors influence the consumption of a destination. This paper aims to contribute to knowledge on behavior-based segmentation by disaggregating spatial behavior of tourists in an intra-destination context. Behaviors were explored focusing on cruise tourists in Visby using GPS loggers and a gridded sighting experience dataset. To identify points of interest, tourists’ indicated their liking using GPS click-loggers. The results were compared to the spatial distribution of visible amenities and through a stepwise method, behavior-based segments grounded in movements and positive emotions were derived. The paper contributes to previous research on intra-destination tourist mobility by developing a method for identifying revealed behavior, and developing segments that can be used to match tourist interests to distribution of amenities. The method aims to provide stakeholders with tools that can facilitate their strategic management and marketing of a destination.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115053741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-01DOI: 10.2478/ethemes-2023-0003
K. Kourtit, P. Nijkamp, H. Scholten
Abstract Local energy transition initiatives – as part of a broader climate-benign and sustainability policy – have become a focal point of future-oriented resource and environmental strategies. Place-based energy conversion however, has turned out to be a very complicated task, from both a governance and research perspective. The present study seeks to sketch out the contours of local sustainable energy planning, with a particular emphasis on (i) practical data and evidence-based information requirements, (ii) the involvement and engagement of citizens and stakeholders, and (iii) the great research potential provided by digital information technology. To that end, a comprehensive mind map for energy transition is depicted, inspired by first experiments in the city of Rotterdam.
{"title":"Planning for Climate–Benign Cities – Design of a Mind Map for Smart Energy Transition","authors":"K. Kourtit, P. Nijkamp, H. Scholten","doi":"10.2478/ethemes-2023-0003","DOIUrl":"https://doi.org/10.2478/ethemes-2023-0003","url":null,"abstract":"Abstract Local energy transition initiatives – as part of a broader climate-benign and sustainability policy – have become a focal point of future-oriented resource and environmental strategies. Place-based energy conversion however, has turned out to be a very complicated task, from both a governance and research perspective. The present study seeks to sketch out the contours of local sustainable energy planning, with a particular emphasis on (i) practical data and evidence-based information requirements, (ii) the involvement and engagement of citizens and stakeholders, and (iii) the great research potential provided by digital information technology. To that end, a comprehensive mind map for energy transition is depicted, inspired by first experiments in the city of Rotterdam.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130724201","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-01DOI: 10.2478/ethemes-2023-0001
D. Teodorovic, M. Nikolic
Abstract A significant part of highway and street congestion is produced by work zones. Depending on the type of construction and/or rehabilitation activity, street capacity could be significantly decreased, or the street could be completely closed. The work zone generates traffic delays in the street where maintenance is performed. Additionally, the work zone generates additional traffic on the neighboring streets, since many drivers change their routes. There are numerous possible work zone schedules. The total travel time of all network users highly depends on the chosen work zones schedule. Work zones scheduling problem has a natural nested structure that requires to be modeled as a bi-level problem. We considered the bi-level work zones scheduling problem. The objective function in the upper level, which we try to minimize, represents the total travel time of all network users. Relations in the lower level, help us to compute User Equilibrium flows. The proposed solution to the problem is based on the combination of Integer Programming and a heuristic traffic assignment algorithm. The output of the developed model consists of the start time of each work zone. The Sioux Falls benchmark network is used to illustrate the proposed procedures and the achieved performances.
{"title":"Work Zone Scheduling Problem in the Urban Traffic Networks","authors":"D. Teodorovic, M. Nikolic","doi":"10.2478/ethemes-2023-0001","DOIUrl":"https://doi.org/10.2478/ethemes-2023-0001","url":null,"abstract":"Abstract A significant part of highway and street congestion is produced by work zones. Depending on the type of construction and/or rehabilitation activity, street capacity could be significantly decreased, or the street could be completely closed. The work zone generates traffic delays in the street where maintenance is performed. Additionally, the work zone generates additional traffic on the neighboring streets, since many drivers change their routes. There are numerous possible work zone schedules. The total travel time of all network users highly depends on the chosen work zones schedule. Work zones scheduling problem has a natural nested structure that requires to be modeled as a bi-level problem. We considered the bi-level work zones scheduling problem. The objective function in the upper level, which we try to minimize, represents the total travel time of all network users. Relations in the lower level, help us to compute User Equilibrium flows. The proposed solution to the problem is based on the combination of Integer Programming and a heuristic traffic assignment algorithm. The output of the developed model consists of the start time of each work zone. The Sioux Falls benchmark network is used to illustrate the proposed procedures and the achieved performances.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116076308","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.2478/ethemes-2022-0025
Marko Savićević, P. Veselinović, Nikola Makojevic
Abstract The Western Balkan countries, which are in the late transition process, fail to take advantage of the opportunities brought by globalization and the removal of restrictions to the free flow of capital, technology, knowledge, people and information. Despite the entry of a significant stock of foreign capital into these countries, they failed to significantly improve the technological level of production and the competitiveness of their economies. The subject of the paper research is the examination of the impact of globalization on the reached level of competitiveness of the economies of the Western Balkan, as well as the countries of Central and Eastern Europe, in the period before the emergence of the COVID crisis. The question raised in the paper is to what extent the process of globalization and the entry of transnational corporations into the Western Balkan countries affected their economies’competitiveness. These two issues permeate each other to a large extent, considering that the governments of the transition countries believe that the foreign capital inflow, in the form of highly sophisticated technology, will simultaneously enable the completion of the transition process and a more decisive integration of the five countries of the Western Balkan in global investment and trade flows. The research confirmed that the degree of involvement in international economic flows has a statistically significant and positive impact on the growth of competitiveness, and that these effects are more pronounced in the Western Balkans than in the Central and Eastern European regions.
{"title":"The Effects of Globalization on the International Competitiveness of the Western Balkan Countries","authors":"Marko Savićević, P. Veselinović, Nikola Makojevic","doi":"10.2478/ethemes-2022-0025","DOIUrl":"https://doi.org/10.2478/ethemes-2022-0025","url":null,"abstract":"Abstract The Western Balkan countries, which are in the late transition process, fail to take advantage of the opportunities brought by globalization and the removal of restrictions to the free flow of capital, technology, knowledge, people and information. Despite the entry of a significant stock of foreign capital into these countries, they failed to significantly improve the technological level of production and the competitiveness of their economies. The subject of the paper research is the examination of the impact of globalization on the reached level of competitiveness of the economies of the Western Balkan, as well as the countries of Central and Eastern Europe, in the period before the emergence of the COVID crisis. The question raised in the paper is to what extent the process of globalization and the entry of transnational corporations into the Western Balkan countries affected their economies’competitiveness. These two issues permeate each other to a large extent, considering that the governments of the transition countries believe that the foreign capital inflow, in the form of highly sophisticated technology, will simultaneously enable the completion of the transition process and a more decisive integration of the five countries of the Western Balkan in global investment and trade flows. The research confirmed that the degree of involvement in international economic flows has a statistically significant and positive impact on the growth of competitiveness, and that these effects are more pronounced in the Western Balkans than in the Central and Eastern European regions.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121790625","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.2478/ethemes-2022-0029
Goran Perić, Sandra Dramićanin, D. Sekulić
Abstract After drastically changing the global tourism and hospitality industry, the current pandemic made hotel companies better understand the new situation and begin to adapt to new market developments. The hotel industry has made significant advances and changes in its business to guarantee the health and safety of guests. This research aimed to examine the consequence of hotels' protective measures against the COVID-19 virus on guest attitudes about protective measures, satisfaction and behavioural intentions. Research findings indicate the protective measures versus COVID-19 utilized by hotels in Serbia positively impact guest attitude towards the measures and guest satisfaction. In contrast, the impact on behavioural intentions is not statistically significant. Additionally, guest attitude towards the measures positively affects guest satisfaction. Guest satisfaction positively affects guest behavioural intentions, while the relationship between guest attitudes and behavioural intentions is not statistically significant.
{"title":"Protective Measures Against COVID-19 and their Impact on Guest Satisfaction and Behaviour Intentions: The Case of the Hotel Industry of Serbia","authors":"Goran Perić, Sandra Dramićanin, D. Sekulić","doi":"10.2478/ethemes-2022-0029","DOIUrl":"https://doi.org/10.2478/ethemes-2022-0029","url":null,"abstract":"Abstract After drastically changing the global tourism and hospitality industry, the current pandemic made hotel companies better understand the new situation and begin to adapt to new market developments. The hotel industry has made significant advances and changes in its business to guarantee the health and safety of guests. This research aimed to examine the consequence of hotels' protective measures against the COVID-19 virus on guest attitudes about protective measures, satisfaction and behavioural intentions. Research findings indicate the protective measures versus COVID-19 utilized by hotels in Serbia positively impact guest attitude towards the measures and guest satisfaction. In contrast, the impact on behavioural intentions is not statistically significant. Additionally, guest attitude towards the measures positively affects guest satisfaction. Guest satisfaction positively affects guest behavioural intentions, while the relationship between guest attitudes and behavioural intentions is not statistically significant.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115283864","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.2478/ethemes-2022-0023
Bojan Srbinoski, Stevco Meceski, Irina Joldeska
Abstract The Covid-19 crisis put pressure on governments to design immediate support packages for alleviating the negative economic consequences for households and businesses. In this paper, we examine the stock market’s reactions to the announcements of each of the four support packages designed by the Macedonian government during the pandemic year. We find that the magnitude, the target, and the extent of realisation of the support package mattered how investors reacted to the government interventions. The market positively reacted only around the second package which was mainly designed to support firms’ liquidity. Once the market consumed the information about the poor realisation of the devised packages, investors remained restrained and uncertain for the upcoming support package. Our findings have important policy implications by showing the differential response to the different types of support packages.
{"title":"Market Reactions to Government Support Packages During the Pandemic in North Macedonia","authors":"Bojan Srbinoski, Stevco Meceski, Irina Joldeska","doi":"10.2478/ethemes-2022-0023","DOIUrl":"https://doi.org/10.2478/ethemes-2022-0023","url":null,"abstract":"Abstract The Covid-19 crisis put pressure on governments to design immediate support packages for alleviating the negative economic consequences for households and businesses. In this paper, we examine the stock market’s reactions to the announcements of each of the four support packages designed by the Macedonian government during the pandemic year. We find that the magnitude, the target, and the extent of realisation of the support package mattered how investors reacted to the government interventions. The market positively reacted only around the second package which was mainly designed to support firms’ liquidity. Once the market consumed the information about the poor realisation of the devised packages, investors remained restrained and uncertain for the upcoming support package. Our findings have important policy implications by showing the differential response to the different types of support packages.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133390972","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.2478/ethemes-2022-0024
Toni Čabraja
Abstract The problem of political abstention of voters leaves democratic institutions without content. That is why the role of political communication in the context of the essential development of democracy is becoming very relevant today. We are interested in how deliberative communication, as a model of political communication, is connected with the mobilization of voters in political processes, which is how democracy is realized. The meaning of deliberatization is based on the idea of bringing stakeholders closer to a consensus through a free and equal dialogue of political communication in the communication community. In this way, a better legitimacy of political decisions is achieved. It is a process of discursive political communication that "creates and maintains" the actions of the government. The research question of our article was how scientific and professional theory look at the role of deliberative communication, as a model of political communication, in the process of political participation of political stakeholders in the communication community today. We assumed (the hypothesis) that scientific theory looks optimistically at the role of deliberative communication. In the article, we used the descriptive method and the method of analysing scientific and professional texts. We carried out the research with a review of domestic and foreign editions of professional books, monographic publications, original scientific articles, and research results. We obtained data using the Cobiss and Google Scholar databases. The results of the research showed that scientific theory views deliberative communication as a promising experiment and evolution in the realization of deliberative democracy..
{"title":"Political Communication and Deliberative Democracy","authors":"Toni Čabraja","doi":"10.2478/ethemes-2022-0024","DOIUrl":"https://doi.org/10.2478/ethemes-2022-0024","url":null,"abstract":"Abstract The problem of political abstention of voters leaves democratic institutions without content. That is why the role of political communication in the context of the essential development of democracy is becoming very relevant today. We are interested in how deliberative communication, as a model of political communication, is connected with the mobilization of voters in political processes, which is how democracy is realized. The meaning of deliberatization is based on the idea of bringing stakeholders closer to a consensus through a free and equal dialogue of political communication in the communication community. In this way, a better legitimacy of political decisions is achieved. It is a process of discursive political communication that \"creates and maintains\" the actions of the government. The research question of our article was how scientific and professional theory look at the role of deliberative communication, as a model of political communication, in the process of political participation of political stakeholders in the communication community today. We assumed (the hypothesis) that scientific theory looks optimistically at the role of deliberative communication. In the article, we used the descriptive method and the method of analysing scientific and professional texts. We carried out the research with a review of domestic and foreign editions of professional books, monographic publications, original scientific articles, and research results. We obtained data using the Cobiss and Google Scholar databases. The results of the research showed that scientific theory views deliberative communication as a promising experiment and evolution in the realization of deliberative democracy..","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126558639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.2478/ethemes-2022-0026
M. Jakšić, Violeta. Todorovic, J. Matic
Abstract Historically, financial and monetary innovations have triggered positive and negative changes in the everyday operations of the financial sector. Similarly, digital currencies can significantly reshape the future of banking and financial intermediaries. Whether the aspect of digital currencies is through the public sector such as in central banks, digital currencies, or private means such as in cryptocurrencies, the eventual rollout of such innovative instruments has a critical influence on the retail use of digital assets. At the same time, digital currencies may create new risks and vulnerabilities in the financial or banking sector whose implications should be thoroughly assessed. However, the magnitude of the risks depends on the designs and policies attached to the digital currencies in use. These features of digital currencies trigger the subject of discussion in this paper. By outlining the benefits and risks associated with digital currencies in the banking sector, the paper aims to highlight the overall impact of digital currencies in the banking sector and available remedies to control the risks. Therefore, the paper provides information that is critical to the banking sector policymakers interested in digital currencies.
{"title":"The Influence of Digital Currency on the Banking Sector in Europe","authors":"M. Jakšić, Violeta. Todorovic, J. Matic","doi":"10.2478/ethemes-2022-0026","DOIUrl":"https://doi.org/10.2478/ethemes-2022-0026","url":null,"abstract":"Abstract Historically, financial and monetary innovations have triggered positive and negative changes in the everyday operations of the financial sector. Similarly, digital currencies can significantly reshape the future of banking and financial intermediaries. Whether the aspect of digital currencies is through the public sector such as in central banks, digital currencies, or private means such as in cryptocurrencies, the eventual rollout of such innovative instruments has a critical influence on the retail use of digital assets. At the same time, digital currencies may create new risks and vulnerabilities in the financial or banking sector whose implications should be thoroughly assessed. However, the magnitude of the risks depends on the designs and policies attached to the digital currencies in use. These features of digital currencies trigger the subject of discussion in this paper. By outlining the benefits and risks associated with digital currencies in the banking sector, the paper aims to highlight the overall impact of digital currencies in the banking sector and available remedies to control the risks. Therefore, the paper provides information that is critical to the banking sector policymakers interested in digital currencies.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"274 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128990605","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.2478/ethemes-2022-0027
D. Markovic, Ana D. Đurović, Slađana Savović
Abstract Growing globalization has created a business environment that encourages companies to internationalize through international acquisitions. The growth in the number and value of international acquisitions in the previous period has increased the number of studies that analyze this phenomenon from different standpoints. Research has shown that the success rate of international acquisitions is relatively low. Poor management of post-acquisition changes, which is particularly complex in transition economies, is cited as the main obstacle in creating value after acquisitions. The aim of the paper is to investigate the factors that contribute to the successful management of post-acquisition changes. The research is based on the case study of the acquisition of Montenegro Telekom by Deutsche Telekom. Data is obtained through employee surveys and interviews with expatriates engaged in acquisitions in transition economies. The research shows that successful management of post-acquisition changes requires change of the corporate culture in the short term and active knowledge transfer support from the parent to the target. Changes in corporate culture aim to encourage innovation among employees and willingness to accept a new business model and process. At the same time, knowledge transfer occurs through intensive employee training on the domestic market, abroad and through online courses and hiring expatriate managers. It turns out that these two processes are complementary and must be implemented simultaneously.
{"title":"Post-Acquisition Management in Transitional Economies: Empirical Analysis of Acquired Company in Telecommunication Industry","authors":"D. Markovic, Ana D. Đurović, Slađana Savović","doi":"10.2478/ethemes-2022-0027","DOIUrl":"https://doi.org/10.2478/ethemes-2022-0027","url":null,"abstract":"Abstract Growing globalization has created a business environment that encourages companies to internationalize through international acquisitions. The growth in the number and value of international acquisitions in the previous period has increased the number of studies that analyze this phenomenon from different standpoints. Research has shown that the success rate of international acquisitions is relatively low. Poor management of post-acquisition changes, which is particularly complex in transition economies, is cited as the main obstacle in creating value after acquisitions. The aim of the paper is to investigate the factors that contribute to the successful management of post-acquisition changes. The research is based on the case study of the acquisition of Montenegro Telekom by Deutsche Telekom. Data is obtained through employee surveys and interviews with expatriates engaged in acquisitions in transition economies. The research shows that successful management of post-acquisition changes requires change of the corporate culture in the short term and active knowledge transfer support from the parent to the target. Changes in corporate culture aim to encourage innovation among employees and willingness to accept a new business model and process. At the same time, knowledge transfer occurs through intensive employee training on the domestic market, abroad and through online courses and hiring expatriate managers. It turns out that these two processes are complementary and must be implemented simultaneously.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129320149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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