M. Špiler, Vesna Bogojević-Arsić, Snežana Knežević
Previous research indicates a growing need to address the issue of fraudulent financial research. In addition to financial measures, non-financial measures are those that should be considered in the process of measuring the economic performance of the company. This research points to the importance of an integrated way of measuring the financial performance of a company in assessing the risk of fraud, which implies the application of non-financial performance measures together with financial ones. If there is a difference between non-financial measures and financial performance, this may be a warning sign that there may be a risk of fraud. Research on the application of non-financial measures in improving the risk assessment of fraud is scarce when looking at the Serbian context. Therefore, this research will add value to the existing literature on fraud risk management in financial statements.
{"title":"Using nonfinancial measures to improve fraud risk assessments: Opportunities and limitations","authors":"M. Špiler, Vesna Bogojević-Arsić, Snežana Knežević","doi":"10.5937/skolbiz1-41123","DOIUrl":"https://doi.org/10.5937/skolbiz1-41123","url":null,"abstract":"Previous research indicates a growing need to address the issue of fraudulent financial research. In addition to financial measures, non-financial measures are those that should be considered in the process of measuring the economic performance of the company. This research points to the importance of an integrated way of measuring the financial performance of a company in assessing the risk of fraud, which implies the application of non-financial performance measures together with financial ones. If there is a difference between non-financial measures and financial performance, this may be a warning sign that there may be a risk of fraud. Research on the application of non-financial measures in improving the risk assessment of fraud is scarce when looking at the Serbian context. Therefore, this research will add value to the existing literature on fraud risk management in financial statements.","PeriodicalId":260330,"journal":{"name":"International Journal of Economic Practice and Policy","volume":"23 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":"126870406","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}
M. Mihajlović, Radovan Damnjanović, Aleksandar Savić
The economic and legal dimension of the budget has always attracted the attention of researchers, both because of its dispositiveness and because of the once necessary stochasticity. This way of its existence and the conditions of its existence are precisely the subject of this paper. The indispensable efficiency of the public sector and its driving force in the conditions of modern existence of the social community and the assumptions that limit its activities complicate the position of the budget and its basic prerogatives as can be seen in all modern states, including ours. Legal constraints on the one hand and economic constraints on the other place the budget in a position that exists continuously, adjusting to the input side conditioned by budget revenues and the output side conditioned by budget expenditures. In this regard, respect for budget procedures and normative structure makes the budget extremely important for the study. In order to complete the budget procedure, after the budget year, the final account is made, which shows the accounting discrepancies and deviations of the execution by the executive from the budget approved by the legislature.
{"title":"Accounting and legal aspects of budget execution","authors":"M. Mihajlović, Radovan Damnjanović, Aleksandar Savić","doi":"10.5937/skolbiz2-41027","DOIUrl":"https://doi.org/10.5937/skolbiz2-41027","url":null,"abstract":"The economic and legal dimension of the budget has always attracted the attention of researchers, both because of its dispositiveness and because of the once necessary stochasticity. This way of its existence and the conditions of its existence are precisely the subject of this paper. The indispensable efficiency of the public sector and its driving force in the conditions of modern existence of the social community and the assumptions that limit its activities complicate the position of the budget and its basic prerogatives as can be seen in all modern states, including ours. Legal constraints on the one hand and economic constraints on the other place the budget in a position that exists continuously, adjusting to the input side conditioned by budget revenues and the output side conditioned by budget expenditures. In this regard, respect for budget procedures and normative structure makes the budget extremely important for the study. In order to complete the budget procedure, after the budget year, the final account is made, which shows the accounting discrepancies and deviations of the execution by the executive from the budget approved by the legislature.","PeriodicalId":260330,"journal":{"name":"International Journal of Economic Practice and Policy","volume":"70 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":"123691779","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}
Intensifying investment activities, strengthening the institutional sector and improving the competitiveness of the national economy stand out as the most important goals of the economic policy of the Republic of Serbia for proceeding with European integration. In this regard, the main goal of this paper is the analysis of investments as one of the most important determinants of economic growth of the Republic of Serbia in the process of accessing the European Union. Given the fact that the Republic of Serbia, as a candidate for membership in the European Union, has been constantly working on harmonizing its legal, institutional and other pillars with the acquis communautaire, research on this topic has gained special significance. The European Union represent the most important investment partner of the Republic of Serbia, especially in terms of foreign direct investment inflows, as well as one of the leading creators of new jobs in the trade sector. The authors of the paper will pay special attention to the current trends and the achieved level of investments in the Republic of Serbia, as well as to their impact on the dynamics of economic growth. The paper will examine the importance of improving the competitiveness of the economic environment as well as the need to accelerate the process of European integration in order to solve the problem of slow economic growth of the Republic of Serbia and intensify investment inflows in the future.
{"title":"The analysis of investments as determinants of economic growth of the Republic of Serbia in the context of accessing the European Union","authors":"Dejan Đurić, Biljana Stankov, Milijana Roganović","doi":"10.5937/skolbiz2-36628","DOIUrl":"https://doi.org/10.5937/skolbiz2-36628","url":null,"abstract":"Intensifying investment activities, strengthening the institutional sector and improving the competitiveness of the national economy stand out as the most important goals of the economic policy of the Republic of Serbia for proceeding with European integration. In this regard, the main goal of this paper is the analysis of investments as one of the most important determinants of economic growth of the Republic of Serbia in the process of accessing the European Union. Given the fact that the Republic of Serbia, as a candidate for membership in the European Union, has been constantly working on harmonizing its legal, institutional and other pillars with the acquis communautaire, research on this topic has gained special significance. The European Union represent the most important investment partner of the Republic of Serbia, especially in terms of foreign direct investment inflows, as well as one of the leading creators of new jobs in the trade sector. The authors of the paper will pay special attention to the current trends and the achieved level of investments in the Republic of Serbia, as well as to their impact on the dynamics of economic growth. The paper will examine the importance of improving the competitiveness of the economic environment as well as the need to accelerate the process of European integration in order to solve the problem of slow economic growth of the Republic of Serbia and intensify investment inflows in the future.","PeriodicalId":260330,"journal":{"name":"International Journal of Economic Practice and Policy","volume":"27 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":"122842140","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}
This paper aims to determine which of the two sample plans, i.e., a simple random sample without replacement, or a stratified sample, gives a more accurate estimate of the feature's mean. The feature that was the subject of this research is the human development index in 2018. The analysis included 189 countries globally, classified into specific categories according to the United Nations development classification. The research results showed that a more accurate estimate of the mean of the human development index was obtained by applying a stratified sampling since the mean of the human development index is close to the population mean. Also, the variance of the sample mean is lower than the value obtained by applying a simple random sampling without replacement. Therefore, it was justified to approach stratification, which indicates that in the case of conducting research, the use of a stratified sampling should be considered since it provides a more precise estimate of the mean.
{"title":"Evaluation of the human development index (HDI) using the methods of sample theory","authors":"Marija Antonijević, Đina Ivanović","doi":"10.5937/skolbiz1-28866","DOIUrl":"https://doi.org/10.5937/skolbiz1-28866","url":null,"abstract":"This paper aims to determine which of the two sample plans, i.e., a simple random sample without replacement, or a stratified sample, gives a more accurate estimate of the feature's mean. The feature that was the subject of this research is the human development index in 2018. The analysis included 189 countries globally, classified into specific categories according to the United Nations development classification. The research results showed that a more accurate estimate of the mean of the human development index was obtained by applying a stratified sampling since the mean of the human development index is close to the population mean. Also, the variance of the sample mean is lower than the value obtained by applying a simple random sampling without replacement. Therefore, it was justified to approach stratification, which indicates that in the case of conducting research, the use of a stratified sampling should be considered since it provides a more precise estimate of the mean.","PeriodicalId":260330,"journal":{"name":"International Journal of Economic Practice and Policy","volume":"4 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":"128799600","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}
Digital marketing is becoming increasingly relevant in business practice. At the same time, there is a growing need to include digital marketing content in the curricula of higher education institutions. Based on the above, this paper sets two goals-to describe the growing application of digital marketing in business practice in general and to explore the general determinants of the choice of the study program by the students at the higher education institution that will start realization of a master's study program in digital marketing in 2021/22 school year. In the context of the previous objectives, in addition to collecting secondary information, a primary survey was conducted in June 2021 (n = 89). The results of the primary research indicate a pronounced positive acceptance of the study program digital marketing by students, regardless of specific general determinants.
{"title":"Marketing research of general determinants of the choice of the study programme digital marketing by academic studies students","authors":"Ines Đokić, Nikola Milićević, Nenad Đokić","doi":"10.5937/skolbiz1-33650","DOIUrl":"https://doi.org/10.5937/skolbiz1-33650","url":null,"abstract":"Digital marketing is becoming increasingly relevant in business practice. At the same time, there is a growing need to include digital marketing content in the curricula of higher education institutions. Based on the above, this paper sets two goals-to describe the growing application of digital marketing in business practice in general and to explore the general determinants of the choice of the study program by the students at the higher education institution that will start realization of a master's study program in digital marketing in 2021/22 school year. In the context of the previous objectives, in addition to collecting secondary information, a primary survey was conducted in June 2021 (n = 89). The results of the primary research indicate a pronounced positive acceptance of the study program digital marketing by students, regardless of specific general determinants.","PeriodicalId":260330,"journal":{"name":"International Journal of Economic Practice and Policy","volume":"41 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":"121692214","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}
Dragoljub Jovičić, D. Ilić, Saša Raletić-Jotanović
Given the fact that in the professional literature on marketing, and especially in the segment of green (environmental) marketing, much more research is done and written about B2C markets, this paper is an attempt to explore procurement motives and behaviour of business customers during the complex purchasing process, on the example of several important thermotechnical devices, on the B2B market in Vojvodina. The research aims to collect relevant data from business customers through direct interviews regarding the impact of environmental performance on the procurement of gas boilers, heat pumps and air conditioners in order to obtain quality and reliable information based on the process, that is, conducted the descriptive statistical analysis, which will enable a better understanding of this complex issue. To collect qualitative data, the method of the unstructured deep interview was used. The results confirmed the research hypotheses and indicated the necessity of green marketing in current business conditions. It is indisputable that soon only organisations focused on green marketing and green marketing channels, that is to say, those which are focused on creating their own optimal relationship between their production, distribution and/or sales process, and environmental protection, will be able to gain a competitive advantage in dynamic business markets and achieve maximum satisfaction of environmentally demanding customers, and thus, in fact, at the same time give their full contribution to the sustainable development of the entire community.
{"title":"Green marketing as a determinant of competitive advantages in B2B markets","authors":"Dragoljub Jovičić, D. Ilić, Saša Raletić-Jotanović","doi":"10.5937/skolbiz2-41068","DOIUrl":"https://doi.org/10.5937/skolbiz2-41068","url":null,"abstract":"Given the fact that in the professional literature on marketing, and especially in the segment of green (environmental) marketing, much more research is done and written about B2C markets, this paper is an attempt to explore procurement motives and behaviour of business customers during the complex purchasing process, on the example of several important thermotechnical devices, on the B2B market in Vojvodina. The research aims to collect relevant data from business customers through direct interviews regarding the impact of environmental performance on the procurement of gas boilers, heat pumps and air conditioners in order to obtain quality and reliable information based on the process, that is, conducted the descriptive statistical analysis, which will enable a better understanding of this complex issue. To collect qualitative data, the method of the unstructured deep interview was used. The results confirmed the research hypotheses and indicated the necessity of green marketing in current business conditions. It is indisputable that soon only organisations focused on green marketing and green marketing channels, that is to say, those which are focused on creating their own optimal relationship between their production, distribution and/or sales process, and environmental protection, will be able to gain a competitive advantage in dynamic business markets and achieve maximum satisfaction of environmentally demanding customers, and thus, in fact, at the same time give their full contribution to the sustainable development of the entire community.","PeriodicalId":260330,"journal":{"name":"International Journal of Economic Practice and Policy","volume":"44 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":"132794703","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}
This paper aims to determine how to combine the Serbian stock index, BELEXline, with four precious metals - gold, silver, platinum and palladium, in order to minimize risk. In the process of portfolio construction, we use the theoretical concept of Markowitz. In particular, we first determine a portfolio of five assets, then exclude an asset with the lowest share and repeat the procedure till we reach a portfolio of two assets. In this way, we construct four portfolios of five, four, three and two assets. In the five-asset portfolio, the portfolio optimization process determines a zero share of silver, because silver bears the highest risk of all other portfolio instruments. This, also, means that five and four-asset portfolios have the same characteristics. On the other hand, in the three-asset portfolio, which contains the Serbian index, gold and platinum, we find a higher share of platinum, compared to the five-asset portfolio, because platinum has a higher negative correlation with BELEXline, vis-à-vis gold-BELEXline pair. Two-asset portfolio, which includes only the index and gold, has a higher risk in the amount of 5% and 4%, in relation to the four and three-asset counterparts. The general conclusion is that a three-asset portfolio is the best one, since it has slightly higher risk than a five or four-asset portfolio, but it has lower transaction cost because it includes only three instruments.
{"title":"How to combine the Serbian stock index with precious metals in a multivariate Markowitz portfolio?","authors":"D. Živkov, Emilija Mihajlović, Miloš Lalošević","doi":"10.5937/skolbiz1-35396","DOIUrl":"https://doi.org/10.5937/skolbiz1-35396","url":null,"abstract":"This paper aims to determine how to combine the Serbian stock index, BELEXline, with four precious metals - gold, silver, platinum and palladium, in order to minimize risk. In the process of portfolio construction, we use the theoretical concept of Markowitz. In particular, we first determine a portfolio of five assets, then exclude an asset with the lowest share and repeat the procedure till we reach a portfolio of two assets. In this way, we construct four portfolios of five, four, three and two assets. In the five-asset portfolio, the portfolio optimization process determines a zero share of silver, because silver bears the highest risk of all other portfolio instruments. This, also, means that five and four-asset portfolios have the same characteristics. On the other hand, in the three-asset portfolio, which contains the Serbian index, gold and platinum, we find a higher share of platinum, compared to the five-asset portfolio, because platinum has a higher negative correlation with BELEXline, vis-à-vis gold-BELEXline pair. Two-asset portfolio, which includes only the index and gold, has a higher risk in the amount of 5% and 4%, in relation to the four and three-asset counterparts. The general conclusion is that a three-asset portfolio is the best one, since it has slightly higher risk than a five or four-asset portfolio, but it has lower transaction cost because it includes only three instruments.","PeriodicalId":260330,"journal":{"name":"International Journal of Economic Practice and Policy","volume":"6 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":"124265761","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}
This paper builds on the existing paper "The financial performance of selected REITs from S & P500" (Cicmil, Đaković, & Inđić, 2022). This paper included four stocks: 1. Public Storage: PSA, 2. Host Hotels & Resorts: HST, 3. Healthpeak Properties: Peak, 4. AIMCO: AIB, and conducted two performance measurement analyses: DPU (dividend distribution by units) and FFO (fund from operations) in order to investigate whether these two ratios gave significantly different results during the Covid 19 crisis. However, this paper deals with further methods of measuring the performance of REITs, namely P/FFO, payout ratio, debt-ebitda and interest coverage. The objective of this paper is to compare these four stocks and their performance to assess which stock has performed the best in the past.
{"title":"Applied financial methods on the example of selected REITs from the S&P500","authors":"Danica Cicmil, Miloš Đaković, Pavle Jakšić","doi":"10.5937/skolbiz2-38006","DOIUrl":"https://doi.org/10.5937/skolbiz2-38006","url":null,"abstract":"This paper builds on the existing paper \"The financial performance of selected REITs from S & P500\" (Cicmil, Đaković, & Inđić, 2022). This paper included four stocks: 1. Public Storage: PSA, 2. Host Hotels & Resorts: HST, 3. Healthpeak Properties: Peak, 4. AIMCO: AIB, and conducted two performance measurement analyses: DPU (dividend distribution by units) and FFO (fund from operations) in order to investigate whether these two ratios gave significantly different results during the Covid 19 crisis. However, this paper deals with further methods of measuring the performance of REITs, namely P/FFO, payout ratio, debt-ebitda and interest coverage. The objective of this paper is to compare these four stocks and their performance to assess which stock has performed the best in the past.","PeriodicalId":260330,"journal":{"name":"International Journal of Economic Practice and Policy","volume":"52 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":"134456507","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}
Ana Jovičić-Vuković, Maja Vukadinović, N. Papić-Blagojević
This research aims to explore the students' evaluations of interactivity in the teaching process. The research involved 361 students, 127 (35.2%) male and 234 (64.8%) female students. The participants were between 18 and 54 years old (M = 22.32, SD = 5.926). Questions related to the previous and current education of participants, their age, gender and place of residence were included as demographic variables. Interactivity in the teaching process was measured on a five-point Likert scale (1 = strongly disagree; 5 = strongly agree). Participants had to evaluate their experience of how interactive the teaching processes they had participated in were. The results have shown that the overall assessment of interactivity is relatively high (M= 3.98, SD=.850). Furthermore, the higher education institution that the students attend had a significant effect on their evaluations of interactivity (F(4, 360) = 3.187, p<.014). The results are discussed in the context of possible improvements in interactivity in the teaching process.
{"title":"The interactivity of the teaching process: The effect of demographic variables","authors":"Ana Jovičić-Vuković, Maja Vukadinović, N. Papić-Blagojević","doi":"10.5937/skolbiz2-35093","DOIUrl":"https://doi.org/10.5937/skolbiz2-35093","url":null,"abstract":"This research aims to explore the students' evaluations of interactivity in the teaching process. The research involved 361 students, 127 (35.2%) male and 234 (64.8%) female students. The participants were between 18 and 54 years old (M = 22.32, SD = 5.926). Questions related to the previous and current education of participants, their age, gender and place of residence were included as demographic variables. Interactivity in the teaching process was measured on a five-point Likert scale (1 = strongly disagree; 5 = strongly agree). Participants had to evaluate their experience of how interactive the teaching processes they had participated in were. The results have shown that the overall assessment of interactivity is relatively high (M= 3.98, SD=.850). Furthermore, the higher education institution that the students attend had a significant effect on their evaluations of interactivity (F(4, 360) = 3.187, p<.014). The results are discussed in the context of possible improvements in interactivity in the teaching process.","PeriodicalId":260330,"journal":{"name":"International Journal of Economic Practice and Policy","volume":"352 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":"134085927","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}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：