Pub Date : 2021-06-01DOI: 10.2478/ethemes-2021-0012
Sanela Mrdaković, Miloš Todorović
Abstract The spectacular economic development of South Korea in recent decades has continuously intrigued economists, academic community and general public. Whether such a development model be applied to other, less developed countries is one of the topics often explored in a number of studies and debates. Therefore, the principles of South Korean development model and the economic parameters of its foreign trade today, are some of the research aims of this paper. The research focuses on economic relations between South Korea and Serbia, current trends and prospects for future economic cooperation through the analysis of comparative advantage of the most prominent export products and industries, using the RCA index. The analysis shows that Serbia has a potential to further improve cooperation with South Korea in several export sectors, and coupled with investments in human resources and infrastructure, as well as the active promotion of Serbian market to South Korean companies, it may be one of the vectors of their future cooperation.
{"title":"South Korea’s Economic Development and Trade Relations with Serbia: Trends and Perspectives","authors":"Sanela Mrdaković, Miloš Todorović","doi":"10.2478/ethemes-2021-0012","DOIUrl":"https://doi.org/10.2478/ethemes-2021-0012","url":null,"abstract":"Abstract The spectacular economic development of South Korea in recent decades has continuously intrigued economists, academic community and general public. Whether such a development model be applied to other, less developed countries is one of the topics often explored in a number of studies and debates. Therefore, the principles of South Korean development model and the economic parameters of its foreign trade today, are some of the research aims of this paper. The research focuses on economic relations between South Korea and Serbia, current trends and prospects for future economic cooperation through the analysis of comparative advantage of the most prominent export products and industries, using the RCA index. The analysis shows that Serbia has a potential to further improve cooperation with South Korea in several export sectors, and coupled with investments in human resources and infrastructure, as well as the active promotion of Serbian market to South Korean companies, it may be one of the vectors of their future cooperation.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"216 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131469196","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 : 2021-06-01DOI: 10.2478/ethemes-2021-0013
Nemanja Berber, Agneš Slavić, M. Aleksić
Abstract Corporate social responsibility (CSR), as a concept that tackles economic, social, and environmental dimensions of business, becomes more and more implemented in companies all around the world. There are different effects that CSR can have on business performance, but it is generally accepted that CSR is related to positive outcomes in business organizations. Also, CSR is a concept that can be understood as a way of reaching sustainable development in the future. This paper aims to investigate the level of the implementation of CSR in Serbia, concerning large companies in the processing industry. The methodology used in the paper obtains exploration of theoretical sources, but also the analysis of primary empirical data gathered in Serbia, in the period from November 2019 until June 2020. The authors designed a questionnaire to explore the state of the art of CSR in Serbia, in business organizations, based on previous successful empirical research. Descriptive statistics, factor analysis, Mann-Whitney, and Kruskal Wallis tests were used to investigate the CSR on the sample of 73 large companies in Serbia’s processing industry. The analyses were made in SPSS software. The results point to the relatively high level of CSR activities in Serbian processing companies, and to the fact that modern companies understand the need of reaching more diversified goals than just economic ones in their business.
企业社会责任(Corporate social responsibility, CSR)作为一个涉及企业经济、社会和环境维度的概念，在世界各地的公司中得到越来越多的实施。企业社会责任对企业绩效有不同的影响，但人们普遍认为企业社会责任与企业组织的积极成果有关。此外，企业社会责任是一个概念，可以理解为在未来实现可持续发展的一种方式。本文旨在调查塞尔维亚大型加工业企业社会责任的实施水平。本文使用的方法不仅对理论来源进行了探索，而且对2019年11月至2020年6月期间在塞尔维亚收集的主要经验数据进行了分析。作者设计了一份调查问卷，以探索塞尔维亚企业社会责任的艺术状态，在商业组织，基于以往成功的实证研究。本文采用描述性统计、因子分析、Mann-Whitney检验和Kruskal Wallis检验对塞尔维亚加工行业73家大型企业的企业社会责任进行了研究。采用SPSS软件进行分析。结果表明，塞尔维亚加工公司的企业社会责任活动水平相对较高，现代公司了解在其业务中实现更多样化目标的必要性，而不仅仅是经济目标。
{"title":"Corporate Social Responsibility in Contemporary Organizations: Evidence from Serbian Processing Industry","authors":"Nemanja Berber, Agneš Slavić, M. Aleksić","doi":"10.2478/ethemes-2021-0013","DOIUrl":"https://doi.org/10.2478/ethemes-2021-0013","url":null,"abstract":"Abstract Corporate social responsibility (CSR), as a concept that tackles economic, social, and environmental dimensions of business, becomes more and more implemented in companies all around the world. There are different effects that CSR can have on business performance, but it is generally accepted that CSR is related to positive outcomes in business organizations. Also, CSR is a concept that can be understood as a way of reaching sustainable development in the future. This paper aims to investigate the level of the implementation of CSR in Serbia, concerning large companies in the processing industry. The methodology used in the paper obtains exploration of theoretical sources, but also the analysis of primary empirical data gathered in Serbia, in the period from November 2019 until June 2020. The authors designed a questionnaire to explore the state of the art of CSR in Serbia, in business organizations, based on previous successful empirical research. Descriptive statistics, factor analysis, Mann-Whitney, and Kruskal Wallis tests were used to investigate the CSR on the sample of 73 large companies in Serbia’s processing industry. The analyses were made in SPSS software. The results point to the relatively high level of CSR activities in Serbian processing companies, and to the fact that modern companies understand the need of reaching more diversified goals than just economic ones in their business.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"76 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115004936","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 : 2021-06-01DOI: 10.2478/ethemes-2021-0010
B. Stojanovic, Z. Kostić, V. Vučić
Abstract The underying idea behand the foundation of the European Union is a single, integrated and competitive market. The future of the entire Western Balkans region (Albania, Bosnia and Herzegovina, Kosovo*, Montenegro, North Macedonia and Serbia) lies within the European Union. The main purpose of this paper is to explore the multiplicative effects of the alignment of European Union regulations with the competition policy in Western Balkan countries. In addition, the paper is designed to highlight the specific issues, challenges in this field, and provides an overview of empirical trends. A combination of qualitative and quantitative approach proposes methodological framework which recognizes different economic environments and regulatory frameworks. By comparing selected economic indicators related to competiton authorities (number of staff in the national authorities, annual budget of the national authorities, number of prohibited agreements, abuse of dominant position, notification of concentrations, opinions), the authors give a reliable basis for comparative progress analysis in this filed. Using multi-criteria optimization as a key method, as well as network and input-output display, the obtained results suggest country whose competition authority is efficient frontier. The significance of this research stems from the current debate whether the harmonized competition policy should speed up and facilitate the process of the accession of new member states to the European Union.
{"title":"Alignment with EU Regulations in the Field of the Competition Policy and System of State Aid in Western Balkan Countries","authors":"B. Stojanovic, Z. Kostić, V. Vučić","doi":"10.2478/ethemes-2021-0010","DOIUrl":"https://doi.org/10.2478/ethemes-2021-0010","url":null,"abstract":"Abstract The underying idea behand the foundation of the European Union is a single, integrated and competitive market. The future of the entire Western Balkans region (Albania, Bosnia and Herzegovina, Kosovo*, Montenegro, North Macedonia and Serbia) lies within the European Union. The main purpose of this paper is to explore the multiplicative effects of the alignment of European Union regulations with the competition policy in Western Balkan countries. In addition, the paper is designed to highlight the specific issues, challenges in this field, and provides an overview of empirical trends. A combination of qualitative and quantitative approach proposes methodological framework which recognizes different economic environments and regulatory frameworks. By comparing selected economic indicators related to competiton authorities (number of staff in the national authorities, annual budget of the national authorities, number of prohibited agreements, abuse of dominant position, notification of concentrations, opinions), the authors give a reliable basis for comparative progress analysis in this filed. Using multi-criteria optimization as a key method, as well as network and input-output display, the obtained results suggest country whose competition authority is efficient frontier. The significance of this research stems from the current debate whether the harmonized competition policy should speed up and facilitate the process of the accession of new member states to the European Union.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132903643","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 : 2021-06-01DOI: 10.2478/ethemes-2021-0015
Milan Stamenković, M. Milanović, D. Petrović
Abstract The research focus on the analysis of interdependence of economic and ICT development results from the fact that, in recent decades, ICTs have become a dominant factor in generating socio-economic prosperity of countries. ICT expansion is a stimulus for economic growth, and vice versa. In order to empirically verify the observed interdependence, on the example of the selected 37 European countries, a two-stage statistical analysis was conducted, based on a combined application of cluster analysis and a oneway analysis of variance. Using specific data from 2017, the following was conducted: (a) formation of groups of countries by implementing cluster analysis based on the three structural components of the ICT Development Index; and (b) by applying the ANOVA method and using the values of GDP per capita, testing the validity of assumption regarding the existence of statistically significant differences, in terms of the achieved level of economic development between the formed groups of countries of different levels of ICT development. The obtained results suggest the extraction of three clusters of countries and the acceptance of the defined hypothesis. Serbia is classified within the cluster of medium ICT development level and is characterized by the value of GDP per capita that is significantly below the group average, which indicates the possibility and the need for improvement in the ICT field.
{"title":"Statistical Analysis of Interdependence of ICT and Economic Development of Selected European Countries","authors":"Milan Stamenković, M. Milanović, D. Petrović","doi":"10.2478/ethemes-2021-0015","DOIUrl":"https://doi.org/10.2478/ethemes-2021-0015","url":null,"abstract":"Abstract The research focus on the analysis of interdependence of economic and ICT development results from the fact that, in recent decades, ICTs have become a dominant factor in generating socio-economic prosperity of countries. ICT expansion is a stimulus for economic growth, and vice versa. In order to empirically verify the observed interdependence, on the example of the selected 37 European countries, a two-stage statistical analysis was conducted, based on a combined application of cluster analysis and a oneway analysis of variance. Using specific data from 2017, the following was conducted: (a) formation of groups of countries by implementing cluster analysis based on the three structural components of the ICT Development Index; and (b) by applying the ANOVA method and using the values of GDP per capita, testing the validity of assumption regarding the existence of statistically significant differences, in terms of the achieved level of economic development between the formed groups of countries of different levels of ICT development. The obtained results suggest the extraction of three clusters of countries and the acceptance of the defined hypothesis. Serbia is classified within the cluster of medium ICT development level and is characterized by the value of GDP per capita that is significantly below the group average, which indicates the possibility and the need for improvement in the ICT field.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127732376","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 : 2021-03-01DOI: 10.2478/ethemes-2021-0002
Suzana Stefanović
Abstract The increasing digitalization of business activities in recent years has been a significant impetus to business model innovation. In this sense, we are witnessing the success of companies that base their businesses on the digital platform model. Therefore, the basic purpose of this paper is to stress out the very essence of platformization as a business model, which is based on the implementation of digital technologies, as well as to point out the characteristics - advantages and disadvantages of the so-called “sharing economy” model. Also, the purpose and goal of the paper is to point out how the characteristics of different types of platforms, especially of sharing economy platforms, affect their business success, i.e. market value, but also vulnerability in case of adverse effects of external factors, such as the current corona virus pandemic. Using both the classical methodology of theoretical research, based on insights into an available literature on the topic, and the results of research of world best practice, as well as monitoring statistical indicators of market value of the world’s best companies, the results confirm the initial assumption that nowdays companies which implement business model of the platform prevail. However, the results of the research also showed the vulnerability of the platforms, especially those based on the sharing economy, in the conditions of a corona virus pandemic. Given that there is very little research in the academic literature on the economic consequences of the current COVID-19 pandemic, the originality and significance of the research is in an attempt to stress out the consequences of the pandemic on the current market value and position of platform companies, and also on their survival and growth in the future.
{"title":"Business Model of the Sharing Economy Platform: Who are the “Winners” and who are the “Losers” of the COVID-19 Pandemic?","authors":"Suzana Stefanović","doi":"10.2478/ethemes-2021-0002","DOIUrl":"https://doi.org/10.2478/ethemes-2021-0002","url":null,"abstract":"Abstract The increasing digitalization of business activities in recent years has been a significant impetus to business model innovation. In this sense, we are witnessing the success of companies that base their businesses on the digital platform model. Therefore, the basic purpose of this paper is to stress out the very essence of platformization as a business model, which is based on the implementation of digital technologies, as well as to point out the characteristics - advantages and disadvantages of the so-called “sharing economy” model. Also, the purpose and goal of the paper is to point out how the characteristics of different types of platforms, especially of sharing economy platforms, affect their business success, i.e. market value, but also vulnerability in case of adverse effects of external factors, such as the current corona virus pandemic. Using both the classical methodology of theoretical research, based on insights into an available literature on the topic, and the results of research of world best practice, as well as monitoring statistical indicators of market value of the world’s best companies, the results confirm the initial assumption that nowdays companies which implement business model of the platform prevail. However, the results of the research also showed the vulnerability of the platforms, especially those based on the sharing economy, in the conditions of a corona virus pandemic. Given that there is very little research in the academic literature on the economic consequences of the current COVID-19 pandemic, the originality and significance of the research is in an attempt to stress out the consequences of the pandemic on the current market value and position of platform companies, and also on their survival and growth in the future.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"207 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116198219","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 : 2021-03-01DOI: 10.2478/ethemes-2021-0003
Emilija Manić, Đorđe Mitrović
Abstract The unbalanced regional development is one of the biggest socioeconomic challenges in Serbia. It is a multidimensional and multi-level regional imbalance that, according to almost all socioeconomic indicators, shows a growing trend in the first decades of the 21st century. This paper presents an analysis of the selected demographic, social, and economic indicators by using DEA methodology. The dynamic component of the studied imbalance was taken into account by calculating the Malmquist Productivity Index. The calculated index undoubtedly shows that there are differences between regions (not only between the northern and southern regions, but also within the regions themselves). The results also point out that the changes of the input usage efficiency have strongly influenced the ranks of the districts within the national territories.
{"title":"Unbalanced Development – Regional Disparity Analysis in Serbia","authors":"Emilija Manić, Đorđe Mitrović","doi":"10.2478/ethemes-2021-0003","DOIUrl":"https://doi.org/10.2478/ethemes-2021-0003","url":null,"abstract":"Abstract The unbalanced regional development is one of the biggest socioeconomic challenges in Serbia. It is a multidimensional and multi-level regional imbalance that, according to almost all socioeconomic indicators, shows a growing trend in the first decades of the 21st century. This paper presents an analysis of the selected demographic, social, and economic indicators by using DEA methodology. The dynamic component of the studied imbalance was taken into account by calculating the Malmquist Productivity Index. The calculated index undoubtedly shows that there are differences between regions (not only between the northern and southern regions, but also within the regions themselves). The results also point out that the changes of the input usage efficiency have strongly influenced the ranks of the districts within the national territories.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124225534","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 : 2021-03-01DOI: 10.2478/ethemes-2021-0001
Edvard Jakopin, Aleksandar Gracanac, Jugoslav Aničić
Abstract This study of the performance of state-owned enterprises in Serbia has shown that the state has great difficulties managing the enterprises that are in its portfolio and under its control. The adaptation of state-owned enterprises to exogenous shocks unfolds at a slow pace and is faced with many problems. The institutional environment for the strategic restructuring of the state sector is not in the service of strengthening the efficiency of its business operation. The study has shown that the economic performance of state-owned enterprises exerts a direct influence on economic growth, the budget, government balance sheets, and debt. While the “healthy” enterprises (the ones conducting their business successfully) are valuable state-owned property, enterprises with a loss or over indebted enterprises are obligations which demand intervention through the injection of additional capital or through other forms of help from the state. The main goal of restructuring state-owned enterprises is to improve responsibility and efficiency. The array of measures for improving efficiency ranges from modifications of the legal framework and corporate governance of socially owned enterprises (including corporatization and separation of activities) to the sale of property to the private sector or complete privatization. Reforms are aimed at improving the transparency and responsibility of state-owned enterprises, not just for the purpose of efficiency, but also for the purpose of harmonization with the ethical and deontological requirements.
{"title":"Restructuring of State Enterprises as a Prerequisite for Economic Growth in the Republic of Serbia","authors":"Edvard Jakopin, Aleksandar Gracanac, Jugoslav Aničić","doi":"10.2478/ethemes-2021-0001","DOIUrl":"https://doi.org/10.2478/ethemes-2021-0001","url":null,"abstract":"Abstract This study of the performance of state-owned enterprises in Serbia has shown that the state has great difficulties managing the enterprises that are in its portfolio and under its control. The adaptation of state-owned enterprises to exogenous shocks unfolds at a slow pace and is faced with many problems. The institutional environment for the strategic restructuring of the state sector is not in the service of strengthening the efficiency of its business operation. The study has shown that the economic performance of state-owned enterprises exerts a direct influence on economic growth, the budget, government balance sheets, and debt. While the “healthy” enterprises (the ones conducting their business successfully) are valuable state-owned property, enterprises with a loss or over indebted enterprises are obligations which demand intervention through the injection of additional capital or through other forms of help from the state. The main goal of restructuring state-owned enterprises is to improve responsibility and efficiency. The array of measures for improving efficiency ranges from modifications of the legal framework and corporate governance of socially owned enterprises (including corporatization and separation of activities) to the sale of property to the private sector or complete privatization. Reforms are aimed at improving the transparency and responsibility of state-owned enterprises, not just for the purpose of efficiency, but also for the purpose of harmonization with the ethical and deontological requirements.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"71 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129410522","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 : 2021-03-01DOI: 10.2478/ethemes-2021-0005
Milica Đorđević, Tadija Đukić
Abstract The Covid-19 pandemic and the measures introduced to prevent its further spread have undoubtedly led to significant business uncertainties regarding the going concern principle. Not only has the global economy experienced negative effects of the pandemic, but a number of professions as well, including auditing. With their significant responsibility in assessing the going concern, auditors face a number of challenges. The aim of this paper is to point out the need for more extensive consideration of auditors in assessing the going concern, as well as the challenges auditors face in a pandemic and the ways in which they overcome these limitations.
{"title":"Auditors’ Responsibility in Assessing Going Concern Assumption Affected by Covid-19","authors":"Milica Đorđević, Tadija Đukić","doi":"10.2478/ethemes-2021-0005","DOIUrl":"https://doi.org/10.2478/ethemes-2021-0005","url":null,"abstract":"Abstract The Covid-19 pandemic and the measures introduced to prevent its further spread have undoubtedly led to significant business uncertainties regarding the going concern principle. Not only has the global economy experienced negative effects of the pandemic, but a number of professions as well, including auditing. With their significant responsibility in assessing the going concern, auditors face a number of challenges. The aim of this paper is to point out the need for more extensive consideration of auditors in assessing the going concern, as well as the challenges auditors face in a pandemic and the ways in which they overcome these limitations.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129073215","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 : 2021-03-01DOI: 10.2478/ethemes-2021-0006
J. Bogićević, Nemanja Karapavlović, B. Jovković
Abstract This paper aims to examine solvency and fixed assets financing of Agriculture, Forestry and Fishing sector (Sector A) in the Republic of Serbia. We also examine whether there is a difference between this Sector’s enterprises and entrepreneurs regarding these two aspects of their financial position. The research is based on the Financial Statements Annual Bulletins available on the official website of the Serbian Business Registers Agency. The period of six consecutive years is covered (2013-2018). Solvency and fixed assets financing were analyzed separately for Sector A enterprises and entrepreneurs. Standard ratio indicators were used to determine these relevant aspects of financial position. The conducted analysis showed differences between this Sector’s enterprises and entrepreneurs regarding the solvency. The research results revealed that, despite a slight improvement in certain solvency indicators, entrepreneurs were insolvent during the observed period. The fixed assets financing indicators showed that the lack of equity for new investments financing was compensated mainly by long-term borrowing at enterprises’ level and by short-term borrowed sources at entrepreneurs’ level.
{"title":"Solvency and Fixed Assets Financing of Agriculture, Forestry and Fishing Sector in the Republic of Serbia","authors":"J. Bogićević, Nemanja Karapavlović, B. Jovković","doi":"10.2478/ethemes-2021-0006","DOIUrl":"https://doi.org/10.2478/ethemes-2021-0006","url":null,"abstract":"Abstract This paper aims to examine solvency and fixed assets financing of Agriculture, Forestry and Fishing sector (Sector A) in the Republic of Serbia. We also examine whether there is a difference between this Sector’s enterprises and entrepreneurs regarding these two aspects of their financial position. The research is based on the Financial Statements Annual Bulletins available on the official website of the Serbian Business Registers Agency. The period of six consecutive years is covered (2013-2018). Solvency and fixed assets financing were analyzed separately for Sector A enterprises and entrepreneurs. Standard ratio indicators were used to determine these relevant aspects of financial position. The conducted analysis showed differences between this Sector’s enterprises and entrepreneurs regarding the solvency. The research results revealed that, despite a slight improvement in certain solvency indicators, entrepreneurs were insolvent during the observed period. The fixed assets financing indicators showed that the lack of equity for new investments financing was compensated mainly by long-term borrowing at enterprises’ level and by short-term borrowed sources at entrepreneurs’ level.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114717337","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 : 2021-03-01DOI: 10.2478/ethemes-2021-0007
Biljana Gojković, S. Popović, Marijana V. Đukić
Abstract Fiscal stability of the local self-government units is the condition for stable public finances of the Republic of Srpska (hereinafter: RS) as a whole. Stable public finances of local self-government units have a positive impact on the economic growth of the RS. Therefore, it is necessary to pay a significant attention to the fiscal problems of local self-government units (hereinafter: LGUs). Although the public finances of the LGUs make up 15% of the total public finances of the Republic of Srpska, it is important to emphasize that the life of the RS citizens takes place in the local self-government. In this regard, LGUs have the important role in providing public goods and services, as well as creating the environment for the life of citizens on the basis of legally defined competencies. Having in mind the importance and role of local self-government units in the RS, it is necessary to ensure the efficient management and stability of their public finances. One of the preconditions for the successful exercise of the competencies of LGUs is the rational and efficient use of available resources. The aim of this paper is to examine the impact of the key fiscal factors of local self-government units on their fiscal stability. The results of this analysis will provide answers to the question of how rational and efficient local self-government units are in the execution of their competencies and how it is reflected on their revenues and expenditures, i.e. in total public finances of RS.
{"title":"Fiscal Stability of the Local Government Units in the Republic of Srpska","authors":"Biljana Gojković, S. Popović, Marijana V. Đukić","doi":"10.2478/ethemes-2021-0007","DOIUrl":"https://doi.org/10.2478/ethemes-2021-0007","url":null,"abstract":"Abstract Fiscal stability of the local self-government units is the condition for stable public finances of the Republic of Srpska (hereinafter: RS) as a whole. Stable public finances of local self-government units have a positive impact on the economic growth of the RS. Therefore, it is necessary to pay a significant attention to the fiscal problems of local self-government units (hereinafter: LGUs). Although the public finances of the LGUs make up 15% of the total public finances of the Republic of Srpska, it is important to emphasize that the life of the RS citizens takes place in the local self-government. In this regard, LGUs have the important role in providing public goods and services, as well as creating the environment for the life of citizens on the basis of legally defined competencies. Having in mind the importance and role of local self-government units in the RS, it is necessary to ensure the efficient management and stability of their public finances. One of the preconditions for the successful exercise of the competencies of LGUs is the rational and efficient use of available resources. The aim of this paper is to examine the impact of the key fiscal factors of local self-government units on their fiscal stability. The results of this analysis will provide answers to the question of how rational and efficient local self-government units are in the execution of their competencies and how it is reflected on their revenues and expenditures, i.e. in total public finances of RS.","PeriodicalId":118717,"journal":{"name":"Economic Themes","volume":"197 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115061520","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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