Pub Date : 1900-01-01DOI: 10.15308/finiz-2022-9-14
Kristina Kaličanin, Ivica Terzić, Piotr Luty, Branko Barjaktarović
: In the last few years there have been significant changes in financial sector on the global level. The aim of this paper is to analyze banking sectors and make a comparative analysis between Serbia, Montenegro and Croatia, given that the banking sector takes up the biggest part of financial sector in these countries. The covered period of the analysis is 2017-2021 and selected ratios of concentration were calculated to define market structures in these countries. Market changes are also reflected in the reduced number of banks due to mergers and acquisitions in the last few years. The results of the static and dynamic analysis of concentration indicate that Serbia’s banking sector is slightly less concentrated than Croatia’s and Montenegro’s banking sector. The decrease in the number of the banks had a significant impact on market structure and it will draw attention to further research.
{"title":"Concentration Level in the Banking Industry: Serbia, Croatia and Montenegro","authors":"Kristina Kaličanin, Ivica Terzić, Piotr Luty, Branko Barjaktarović","doi":"10.15308/finiz-2022-9-14","DOIUrl":"https://doi.org/10.15308/finiz-2022-9-14","url":null,"abstract":": In the last few years there have been significant changes in financial sector on the global level. The aim of this paper is to analyze banking sectors and make a comparative analysis between Serbia, Montenegro and Croatia, given that the banking sector takes up the biggest part of financial sector in these countries. The covered period of the analysis is 2017-2021 and selected ratios of concentration were calculated to define market structures in these countries. Market changes are also reflected in the reduced number of banks due to mergers and acquisitions in the last few years. The results of the static and dynamic analysis of concentration indicate that Serbia’s banking sector is slightly less concentrated than Croatia’s and Montenegro’s banking sector. The decrease in the number of the banks had a significant impact on market structure and it will draw attention to further research.","PeriodicalId":184430,"journal":{"name":"Proceedings of the 9th International Scientific Conference - FINIZ 2022","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125631241","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 : 1900-01-01DOI: 10.15308/finiz-2022-25-31
Jovana Dedić
: This paper analyzes the problem of the influence of legal requirements related to the calculation of transfer prices on the amount of taxable profit and the amount of income tax. It also deals with the compliance of the legislation in the Republic of Serbia with the relevant requirements of the European Union, as well as with the regulations of neighboring countries. Given that a large number of companies do business with related parties both in the country and in neighboring countries, the emphasis was placed on analyzing the justification of harmonizing transfer prices with prices at "arm's length" and on comparing the requirements imposed on taxpayers by the legal regulations of the Republic of Serbia, the Republic of Croatia, the Republic of Montenegro, and Bosnia and Herzegovina.
{"title":"Comparative Analysis of Legislation on Transfer Pricing in Neighboring Countries","authors":"Jovana Dedić","doi":"10.15308/finiz-2022-25-31","DOIUrl":"https://doi.org/10.15308/finiz-2022-25-31","url":null,"abstract":": This paper analyzes the problem of the influence of legal requirements related to the calculation of transfer prices on the amount of taxable profit and the amount of income tax. It also deals with the compliance of the legislation in the Republic of Serbia with the relevant requirements of the European Union, as well as with the regulations of neighboring countries. Given that a large number of companies do business with related parties both in the country and in neighboring countries, the emphasis was placed on analyzing the justification of harmonizing transfer prices with prices at \"arm's length\" and on comparing the requirements imposed on taxpayers by the legal regulations of the Republic of Serbia, the Republic of Croatia, the Republic of Montenegro, and Bosnia and Herzegovina.","PeriodicalId":184430,"journal":{"name":"Proceedings of the 9th International Scientific Conference - FINIZ 2022","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121374066","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 : 1900-01-01DOI: 10.15308/finiz-2022-80-85
Ana Jovancai Stakic, Anni Dasho Sharko
A great disruption in both economic development and the business environment caused by the COVID-19, provoked a significant effect on youth unemployment. Youth unemployment remains an important problem for Western Balkan countries, along with additional challenges concerning education and business systems brought on by the pandemic. Entrepreneurship is recognized as one of the best solutions for overcoming the stated problem due to its many benefits. It is important to develop entrepreneurship among the young population to improve their economic independence and integrate them into the labor market. This paper discusses the post-Covid state of the unemployment levels, youth unemployment, and entrepreneurship, as possible stepping stones in the Republic of Serbia and the Republic of Albania.
{"title":"Youth Unemployment in Serbia and Albania: Promoting Entrepreneurship as a Way Forward","authors":"Ana Jovancai Stakic, Anni Dasho Sharko","doi":"10.15308/finiz-2022-80-85","DOIUrl":"https://doi.org/10.15308/finiz-2022-80-85","url":null,"abstract":"A great disruption in both economic development and the business environment caused by the COVID-19, provoked a significant effect on youth unemployment. Youth unemployment remains an important problem for Western Balkan countries, along with additional challenges concerning education and business systems brought on by the pandemic. Entrepreneurship is recognized as one of the best solutions for overcoming the stated problem due to its many benefits. It is important to develop entrepreneurship among the young population to improve their economic independence and integrate them into the labor market. This paper discusses the post-Covid state of the unemployment levels, youth unemployment, and entrepreneurship, as possible stepping stones in the Republic of Serbia and the Republic of Albania.","PeriodicalId":184430,"journal":{"name":"Proceedings of the 9th International Scientific Conference - FINIZ 2022","volume":"122 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124183453","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 : 1900-01-01DOI: 10.15308/finiz-2022-57-65
Ivan Čvorović, S. Filipovic
: The countries of the European Union have faced numerous changes in the last few years, starting with Brexit, the large influx of migrants, the economic impact of pandemic, and the current energy crisis, etc. All those changes directly affected public finances. To ensure their macroeconomic stability, the member countries of the Union adopted certain measures in the sphere of fiscal policy. The goal of the paper is to determine changes in the area of fiscal policy based on the analysis of the share of direct and indirect taxes, as well as the share of public spending in the gross domestic product of the European Union countries. The research refers to the time period 2015-2020 and it is based on the method of comparative analysis. The research results show that at the level of the EU27 average, there is a noticeable growth in the percent of direct taxes and public spending in the gross domestic product. Likewise, the results showed that the share of social benefits in the gross domestic product also increased. Such a trend can be interpreted as a response of fiscal policy to changes that negatively affect the social security of citizens, but also as a need to ensure the stability of public finances in the countries of the European Union.
{"title":"Taxation and Public Spending Policies in EU Economies","authors":"Ivan Čvorović, S. Filipovic","doi":"10.15308/finiz-2022-57-65","DOIUrl":"https://doi.org/10.15308/finiz-2022-57-65","url":null,"abstract":": The countries of the European Union have faced numerous changes in the last few years, starting with Brexit, the large influx of migrants, the economic impact of pandemic, and the current energy crisis, etc. All those changes directly affected public finances. To ensure their macroeconomic stability, the member countries of the Union adopted certain measures in the sphere of fiscal policy. The goal of the paper is to determine changes in the area of fiscal policy based on the analysis of the share of direct and indirect taxes, as well as the share of public spending in the gross domestic product of the European Union countries. The research refers to the time period 2015-2020 and it is based on the method of comparative analysis. The research results show that at the level of the EU27 average, there is a noticeable growth in the percent of direct taxes and public spending in the gross domestic product. Likewise, the results showed that the share of social benefits in the gross domestic product also increased. Such a trend can be interpreted as a response of fiscal policy to changes that negatively affect the social security of citizens, but also as a need to ensure the stability of public finances in the countries of the European Union.","PeriodicalId":184430,"journal":{"name":"Proceedings of the 9th International Scientific Conference - FINIZ 2022","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125817102","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 : 1900-01-01DOI: 10.15308/finiz-2022-111-116
Ana B. Radulovic, O. Epitropaki, S. Stanišić
: The pandemic has brought numerous challenges to organisations such as working from home, virtual communication, and management of interpersonal relationships. Considering the notion that people are the lifeblood of the organisations, it is important to understand how and in what ways leaders can support their employees during and after the pandemic. Authentic leadership was shown to be one of the most effective approaches when it comes to supporting employees’ psychological and work needs. This paper briefly outlines authentic leadership theory and provides an overview of the studies conducted during the pandemic that show the positive effects of authentic leadership on significant outcomes.
{"title":"Authentic Leadership for Organisational Advancement in the New Normal","authors":"Ana B. Radulovic, O. Epitropaki, S. Stanišić","doi":"10.15308/finiz-2022-111-116","DOIUrl":"https://doi.org/10.15308/finiz-2022-111-116","url":null,"abstract":": The pandemic has brought numerous challenges to organisations such as working from home, virtual communication, and management of interpersonal relationships. Considering the notion that people are the lifeblood of the organisations, it is important to understand how and in what ways leaders can support their employees during and after the pandemic. Authentic leadership was shown to be one of the most effective approaches when it comes to supporting employees’ psychological and work needs. This paper briefly outlines authentic leadership theory and provides an overview of the studies conducted during the pandemic that show the positive effects of authentic leadership on significant outcomes.","PeriodicalId":184430,"journal":{"name":"Proceedings of the 9th International Scientific Conference - FINIZ 2022","volume":"102 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116456508","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 : 1900-01-01DOI: 10.15308/finiz-2022-98-103
Danka Milojković, Katarina Milojković
The global crisis caused by the COVID-19 pandemic triggered the need for organizations to become more flexible to environmental changes, initiate and improve the processes of digital transformation in business, develop a corporate culture based on innovation and creativity and apply the concept of strategic management. The impact of a crisis is minimized if organizations are planning. The subject of this research is the analysis of the case of an organization that uses the Agile project management approach. The goal of this research is to consider the possibility of improving business resilience by applying Agile in the organization's planning. Content analysis based on a case study method was used in the research. The research contributes to the greater ability of organizations to adapt to changes in a turbulent and dynamic environment, especially in times of crisis, with the aim of maintaining, developing, and growing business through applying Agile.
{"title":"Improving the Business Resilience of an Organization by Applying Agile Project Managemet Approach","authors":"Danka Milojković, Katarina Milojković","doi":"10.15308/finiz-2022-98-103","DOIUrl":"https://doi.org/10.15308/finiz-2022-98-103","url":null,"abstract":"The global crisis caused by the COVID-19 pandemic triggered the need for organizations to become more flexible to environmental changes, initiate and improve the processes of digital transformation in business, develop a corporate culture based on innovation and creativity and apply the concept of strategic management. The impact of a crisis is minimized if organizations are planning. The subject of this research is the analysis of the case of an organization that uses the Agile project management approach. The goal of this research is to consider the possibility of improving business resilience by applying Agile in the organization's planning. Content analysis based on a case study method was used in the research. The research contributes to the greater ability of organizations to adapt to changes in a turbulent and dynamic environment, especially in times of crisis, with the aim of maintaining, developing, and growing business through applying Agile.","PeriodicalId":184430,"journal":{"name":"Proceedings of the 9th International Scientific Conference - FINIZ 2022","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122275451","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 : 1900-01-01DOI: 10.15308/finiz-2022-86-92
Ivana R. Vasić, S. Filipovic
Creative economy is one of the world’s most rapidly growing sectors, contributing 3% of the global GDP. Based on creativity and innovation as the main factors, creative and cultural industries include different fields of activity. By their nature, they are interdisciplinary and provide great potential for social and economic development. Improving the growth and development of creative industry can significantly contribute to the economic development of a country, especially in countries with rich cultural and historical heritage, such as Serbia. The aim of the paper is to determine the significance of the Serbian creative industry sector considering its contribution to GDP, employment and export. Results of the analysis showed that in 2021 creative industries contributed to 7.1% of GDP, achieving faster growth than other economic activities. Also, the average salary in the creative industry sector is higher compared to the average salary in Serbia. Since 2019, there has been a noticeable increase in the deficit in foreign trade exchange, which indicates that it is necessary to take systemic measures in order to improve this sector.
{"title":"The Importance of Creative Industry for the Economic Development of The Republic of Serbia","authors":"Ivana R. Vasić, S. Filipovic","doi":"10.15308/finiz-2022-86-92","DOIUrl":"https://doi.org/10.15308/finiz-2022-86-92","url":null,"abstract":"Creative economy is one of the world’s most rapidly growing sectors, contributing 3% of the global GDP. Based on creativity and innovation as the main factors, creative and cultural industries include different fields of activity. By their nature, they are interdisciplinary and provide great potential for social and economic development. Improving the growth and development of creative industry can significantly contribute to the economic development of a country, especially in countries with rich cultural and historical heritage, such as Serbia. The aim of the paper is to determine the significance of the Serbian creative industry sector considering its contribution to GDP, employment and export. Results of the analysis showed that in 2021 creative industries contributed to 7.1% of GDP, achieving faster growth than other economic activities. Also, the average salary in the creative industry sector is higher compared to the average salary in Serbia. Since 2019, there has been a noticeable increase in the deficit in foreign trade exchange, which indicates that it is necessary to take systemic measures in order to improve this sector.","PeriodicalId":184430,"journal":{"name":"Proceedings of the 9th International Scientific Conference - FINIZ 2022","volume":"88 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133174080","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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