The paper examines the corporate social responsibility (CSR) reporting practice at the frontier markets by using a comparative review of sustainability reporting practice according to the GRI framework. The research covers 31 companies included in the BELEXline and MBI10 indices in the period 2014-2018. The values of Social, Environmental, Economic and aggregate Sustainability Index, calculated using content analysis, indicate a low level of sustainability reporting practice. This is a consequence of a passive ownership and modest stakeholder pressures to the companies at two frontier markets and the lack of normative pressure on sustainability reporting. The grouping of the companies into clusters in accordance with the disclosure of sustainability indicators indicates significant inter- and intra-countries variations in practice. The reporting on sustainability issues differs among the companies according to their size, ownership structure, exchange market and industrial sector affiliation, which is on par with the developed capital markets.
{"title":"WHAT CAN BE LEARNED FROM SUSTAINABILITY REPORTING AT THE FRONTIER MARKETS? THE CASE OF THE REPUBLIC OF SERBIA AND NORTH MACEDONIA","authors":"K. Denčić-Mihajlov, K. Poposki, Milica Pavlovic","doi":"10.22190/fueo210616017d","DOIUrl":"https://doi.org/10.22190/fueo210616017d","url":null,"abstract":"The paper examines the corporate social responsibility (CSR) reporting practice at the frontier markets by using a comparative review of sustainability reporting practice according to the GRI framework. The research covers 31 companies included in the BELEXline and MBI10 indices in the period 2014-2018. The values of Social, Environmental, Economic and aggregate Sustainability Index, calculated using content analysis, indicate a low level of sustainability reporting practice. This is a consequence of a passive ownership and modest stakeholder pressures to the companies at two frontier markets and the lack of normative pressure on sustainability reporting. The grouping of the companies into clusters in accordance with the disclosure of sustainability indicators indicates significant inter- and intra-countries variations in practice. The reporting on sustainability issues differs among the companies according to their size, ownership structure, exchange market and industrial sector affiliation, which is on par with the developed capital markets.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"41 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82677389","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}
The contemporary Coronavirus pandemic (Covid-19) has led the world to a severe socio-economic crisis and psychological distress. It has distressed the economy, but the services sector, especially the hospitality industry, is seriously affected by it. This study investigates how this virus influences organizational confidence, job satisfaction, and increases employees' sense of insecurity and perceptions of being unemployed. We performed a comparative analysis of the main indicators in tourism in 2020 compared to the same period of 2019, referring to the data recorded internationally. Also, the research aimed to identify how much the hospitality sector is affected by the crisis produced by the Covid-19 pandemic. The results specify that perceived job insecurity interposes the fear of the economic crisis.
{"title":"THE IMPACT OF THE PANDEMIC COVID-19 ON HOSPITALITY INDUSTRY AND TOURISM WORKERS","authors":"Dana-Maria Stoicea (Ignătescu)","doi":"10.22190/fueo210611020s","DOIUrl":"https://doi.org/10.22190/fueo210611020s","url":null,"abstract":"The contemporary Coronavirus pandemic (Covid-19) has led the world to a severe socio-economic crisis and psychological distress. It has distressed the economy, but the services sector, especially the hospitality industry, is seriously affected by it. This study investigates how this virus influences organizational confidence, job satisfaction, and increases employees' sense of insecurity and perceptions of being unemployed. We performed a comparative analysis of the main indicators in tourism in 2020 compared to the same period of 2019, referring to the data recorded internationally. Also, the research aimed to identify how much the hospitality sector is affected by the crisis produced by the Covid-19 pandemic. The results specify that perceived job insecurity interposes the fear of the economic crisis.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"122 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88462097","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 analyzes bail-out and bail-in programs in the Eurozone periphery economies after the transformation of the global crisis into a debt crisis. Continuous rise of debt service costs was leading PIGS economies (Portugal, Ireland, Greece, Spain) either to abandon of Eurozone or to negotiate rescue programs. Using Panel corrected standard errors (PCSE) method, the research shows that bail-out programs had a negative effect on GDP growth in PIGS economies in the period 2011-2019, as the consequence of crowding-out effects. However, the results showed that bail-out programs could positively affect fiscal variables. An alternative solution is the bail-in mechanism, which is a sustainable mechanism that does not burden taxpayers. Based on examples of banks in Spain and Portugal, results show that using bail-in programs, panic and contagion effects could be avoided; however, in the case of future crisis, the effects of bail-in programs on the real economy still need to be examined.
{"title":"PIGS ECONOMIES: BAIL-OUT VS. BAIL-IN","authors":"M. Beljić","doi":"10.22190/fueo210525018b","DOIUrl":"https://doi.org/10.22190/fueo210525018b","url":null,"abstract":"This paper analyzes bail-out and bail-in programs in the Eurozone periphery economies after the transformation of the global crisis into a debt crisis. Continuous rise of debt service costs was leading PIGS economies (Portugal, Ireland, Greece, Spain) either to abandon of Eurozone or to negotiate rescue programs. Using Panel corrected standard errors (PCSE) method, the research shows that bail-out programs had a negative effect on GDP growth in PIGS economies in the period 2011-2019, as the consequence of crowding-out effects. However, the results showed that bail-out programs could positively affect fiscal variables. An alternative solution is the bail-in mechanism, which is a sustainable mechanism that does not burden taxpayers. Based on examples of banks in Spain and Portugal, results show that using bail-in programs, panic and contagion effects could be avoided; however, in the case of future crisis, the effects of bail-in programs on the real economy still need to be examined.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"67 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74114665","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 study examines the causal relationship between oil price and economic growth in 14 oil-importing countries in sub-Saharan Africa during the period 1990 to 2018. The countries are further divided into two groups, namely seven low-income countries (LICs) and seven middle-income countries (MICs) in order to test whether the causality between oil price and economic growth depends on the countries’ income levels. Unlike previous studies that used a bivariate model, this study employs a multivariate Granger-causality model, which incorporates oil consumption and real exchange rate as intermittent variables in a bivariate setting between oil price and economic growth. The study employs panel cointegration and the panel Granger-causality tests to examine this linkage. The results of the study show that in the short run, there is a bidirectional causality between oil price and economic growth for the entire dataset, and both for the LICs and MICs. However, in the long run, there is a bidirectional causal relationship between oil price and economic growth for the entire dataset and MICs, but a unidirectional causality from economic growth to oil price for the LICs. Overall, the study found a feedback relationship between oil price and economic growth to be predominant.
{"title":"THE DYNAMIC CAUSAL RELATIONSHIP BETWEEN OIL PRICE AND ECONOMIC GROWTH IN OIL-IMPORTING SSA COUNTRIES: A MULTIVARIATE MODEL","authors":"Motunrayo O. Akinsola, N. Odhiambo","doi":"10.22190/fueo210628015a","DOIUrl":"https://doi.org/10.22190/fueo210628015a","url":null,"abstract":"This study examines the causal relationship between oil price and economic growth in 14 oil-importing countries in sub-Saharan Africa during the period 1990 to 2018. The countries are further divided into two groups, namely seven low-income countries (LICs) and seven middle-income countries (MICs) in order to test whether the causality between oil price and economic growth depends on the countries’ income levels. Unlike previous studies that used a bivariate model, this study employs a multivariate Granger-causality model, which incorporates oil consumption and real exchange rate as intermittent variables in a bivariate setting between oil price and economic growth. The study employs panel cointegration and the panel Granger-causality tests to examine this linkage. The results of the study show that in the short run, there is a bidirectional causality between oil price and economic growth for the entire dataset, and both for the LICs and MICs. However, in the long run, there is a bidirectional causal relationship between oil price and economic growth for the entire dataset and MICs, but a unidirectional causality from economic growth to oil price for the LICs. Overall, the study found a feedback relationship between oil price and economic growth to be predominant. ","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75275194","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}
Uncertainty is a major dimension of business that alters business plans and courses of actions. Hence, this study primarily examined how entrepreneurs deal with uncertainty using both effectual and causal logics. The study design was cross-sectional while multistage sampling technique was used to collect primary data. These data were analysed using bivariate correlation and hierarchical regression techniques of SPSS version 23. The results of the correlation analysis showed that causation and three of the four sub-dimensions of effectuation had significant relation with competitiveness while pre-commitment did not. The analysis further showed that Nigerian retail entrepreneurs tended more towards causation and effectuation. The results from the hierarchical regression revealed that causation made the most unique impact on competitiveness and was closely followed by experimentation and flexibility. However, affordable loss and pre-commitment did not. This study contributed to knowledge by empirically showing that entrepreneurs will not always be more effectual oriented in all cases. It also confirmed that causation and effectuation should be seen as complementary and not exclusive strategies.
{"title":"EFFECTUATION AND CAUSATION DECISION MAKING LOGICS OF MANAGING UNCERTAINTY AND COMPETITIVENESS BY NIGERIAN RETAIL BUSINESS ENTREPRENEURS","authors":"Christopher Idemudia Ebegbetale","doi":"10.22190/fueo210311011e","DOIUrl":"https://doi.org/10.22190/fueo210311011e","url":null,"abstract":"Uncertainty is a major dimension of business that alters business plans and courses of actions. Hence, this study primarily examined how entrepreneurs deal with uncertainty using both effectual and causal logics. The study design was cross-sectional while multistage sampling technique was used to collect primary data. These data were analysed using bivariate correlation and hierarchical regression techniques of SPSS version 23. The results of the correlation analysis showed that causation and three of the four sub-dimensions of effectuation had significant relation with competitiveness while pre-commitment did not. The analysis further showed that Nigerian retail entrepreneurs tended more towards causation and effectuation. The results from the hierarchical regression revealed that causation made the most unique impact on competitiveness and was closely followed by experimentation and flexibility. However, affordable loss and pre-commitment did not. This study contributed to knowledge by empirically showing that entrepreneurs will not always be more effectual oriented in all cases. It also confirmed that causation and effectuation should be seen as complementary and not exclusive strategies.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"49 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78748553","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}
Competitive advantage can be seen as the superiority of some market participants to properly use resources and utilize key competencies to deliver greater value than competitors, without compromising product quality and functionality. In that sense, accounting, especially management accounting, successfully responds to managers’ needs for information that will be their adequate support in strategy implementation. Lean concept and target costing are just some of the concepts whose strategic orientation can be a good support to managers. The aim of this paper is to point out the similarities and differences between lean concept and target costing and to show on a practical example how these concepts bring business improvements in supply chain.
{"title":"TARGET COSTING SUITABILITY FOR IMPROVEMENTS OF LEAN SUPPLY CHAINS","authors":"Bojana Novićević Čečević, L. Antic","doi":"10.22190/fueo210123014n","DOIUrl":"https://doi.org/10.22190/fueo210123014n","url":null,"abstract":"Competitive advantage can be seen as the superiority of some market participants to properly use resources and utilize key competencies to deliver greater value than competitors, without compromising product quality and functionality. In that sense, accounting, especially management accounting, successfully responds to managers’ needs for information that will be their adequate support in strategy implementation. Lean concept and target costing are just some of the concepts whose strategic orientation can be a good support to managers. The aim of this paper is to point out the similarities and differences between lean concept and target costing and to show on a practical example how these concepts bring business improvements in supply chain.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"29 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76818745","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}
The article emphasizes the creative activity that underlies the concept of "social value", which forms in the course of solving actual social problems. Social responsibility is mainly determined by reducing the negative impact of business on the basis of support and development of innovative projects. An analytical comparison of the categories of "social value" and "social responsibility" with the Sustainable Development Goals revealed a greater correspondence of the concept of "social value" to the sustainable development strategy. A statistical study of data from European countries allowed to draw a conclusion about the increase in social value in consumption, recycling of production resources, the use of renewable energy sources, and the growth of preferences for the development of own business. Based on the conducted research, the article highlights the exceptional role of millennials in updating the issues of social focus of business.
{"title":"MILLENNIALS IN THE CREATION OF SOCIAL VALUE OF THE ENTERPRISE","authors":"A. Kramarenko","doi":"10.22190/fueo210110009k","DOIUrl":"https://doi.org/10.22190/fueo210110009k","url":null,"abstract":"The article emphasizes the creative activity that underlies the concept of \"social value\", which forms in the course of solving actual social problems. Social responsibility is mainly determined by reducing the negative impact of business on the basis of support and development of innovative projects. An analytical comparison of the categories of \"social value\" and \"social responsibility\" with the Sustainable Development Goals revealed a greater correspondence of the concept of \"social value\" to the sustainable development strategy. A statistical study of data from European countries allowed to draw a conclusion about the increase in social value in consumption, recycling of production resources, the use of renewable energy sources, and the growth of preferences for the development of own business. Based on the conducted research, the article highlights the exceptional role of millennials in updating the issues of social focus of business.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"46 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85574583","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}
In this study, the effects of KOSGEB subsidies on the foreign trade of SMEs were examined and the actions necessary to be taken by KOSGEB (SME Development Organization in Turkey) were emphasized. In the study, T test, ANOVA test and TUKEY tests were used and the study was conducted in Gaziantep, which is the 6th biggest city in Turkey. According to the results, companies’ problems are accessing markets, financial problems, qualified personnel, language, and high personnel, raw material and production costs. Carrying out activities by KOSGEB such as market research, finding customers, providing financial support, contribution to qualified personnel salary, encouraging and supporting R&D activities, and providing consultancy are very important to solve the problems.
{"title":"THE CONTRIBUTION OF SME DEVELOPMENT ORGANIZATION ON EXPORT: REGIONAL EXAMPLE","authors":"Selim Corekcioglu","doi":"10.22190/fueo210222012c","DOIUrl":"https://doi.org/10.22190/fueo210222012c","url":null,"abstract":"In this study, the effects of KOSGEB subsidies on the foreign trade of SMEs were examined and the actions necessary to be taken by KOSGEB (SME Development Organization in Turkey) were emphasized. In the study, T test, ANOVA test and TUKEY tests were used and the study was conducted in Gaziantep, which is the 6th biggest city in Turkey. According to the results, companies’ problems are accessing markets, financial problems, qualified personnel, language, and high personnel, raw material and production costs. Carrying out activities by KOSGEB such as market research, finding customers, providing financial support, contribution to qualified personnel salary, encouraging and supporting R&D activities, and providing consultancy are very important to solve the problems.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"45 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88887943","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}
Edisa Dreković, Marija Radosavljević, Melisa Bejtović
The purpose of this paper is to identify key limitations of the implementation of ISO 9001:2015 standard, their correlations, as well as the connection with the problems that companies face. The paper in literature review used the research papers of other researchers related to the limitations of the implementation of ISO standards. In order to realize the purpose of the research, empirical research was conducted. The research was realized by the method of a survey questionnaire, on the sample of 12 respondents, experts of consulting companies for the implementation of standards and lead auditors of accredited certification bodies for the implementation of ISO standards in Serbia. Using this approach based on external source ensures a certain level of objectivity. Also, the experience of the respondents based on the implementation of a process approach and certification of various organizations provides the necessary credibility and quality of the research itself. The paper identifies 12 limitations of implementation ISO 9001.The results of the research show that non-material limitations are the dominant obstacle to the implementation of ISO 9001:2015. Also, those limitations are positively correlated with each other, so they can cause multiple problems for companies in fulfilling the requirements of ISO standards.
{"title":"ANALYSIS OF LIMITATIONS OF ISO STANDARDS IMPLEMENTATION FROM THE EXTERNAL STAKEHOLDERS’ POINT OF VIEW","authors":"Edisa Dreković, Marija Radosavljević, Melisa Bejtović","doi":"10.22190/fueo210402010d","DOIUrl":"https://doi.org/10.22190/fueo210402010d","url":null,"abstract":"The purpose of this paper is to identify key limitations of the implementation of ISO 9001:2015 standard, their correlations, as well as the connection with the problems that companies face. The paper in literature review used the research papers of other researchers related to the limitations of the implementation of ISO standards. In order to realize the purpose of the research, empirical research was conducted. The research was realized by the method of a survey questionnaire, on the sample of 12 respondents, experts of consulting companies for the implementation of standards and lead auditors of accredited certification bodies for the implementation of ISO standards in Serbia. Using this approach based on external source ensures a certain level of objectivity. Also, the experience of the respondents based on the implementation of a process approach and certification of various organizations provides the necessary credibility and quality of the research itself. The paper identifies 12 limitations of implementation ISO 9001.The results of the research show that non-material limitations are the dominant obstacle to the implementation of ISO 9001:2015. Also, those limitations are positively correlated with each other, so they can cause multiple problems for companies in fulfilling the requirements of ISO standards.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85881397","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 study investigates the effect of ownership structure on the financial performance of listed manufacturing firms in three Sub-Saharan Africa countries (Nigeria, Kenya and South–Africa) based on the critical mass indices of their respective bourse. Relevant data from the financial reports of sampled firms were analyzed using the co-integration test and the system-GMM for a period 2010-2019 using Return on Asset, and Tobin-Q as dependent variables while government ownership, block ownership and institutional ownership concentrations were explanatory variables. The empirical results revealed that all the explanatory variables have significant effect on the performance indicators (ROA, TOBIN Q). The result of robustness checks also revealed that both government and institutional ownership concentrations have predominately negative effect on financial performance for the respective countries while block ownership concentration is largely positive for most of the manufacturing firms. The study recommends that policy makers should create favorable policies to encourage balanced investment from all categories of investors and ensure only few owners who have the wherewithal to diversify and attract skills and competencies to improve firm performance. Government should also retain some ownership in foreign and local firms to enhance shareholders’ confidence
{"title":"OWNERSHIP STRUCTURE AND FINANCIAL PERFORMANCE OF MANUFACTURING FIRMS IN SUB-SAHARAN AFRICA","authors":"Mayowa Gabriel Ajao, Jude Osazuwa Ejokehuma","doi":"10.22190/fueo210319013a","DOIUrl":"https://doi.org/10.22190/fueo210319013a","url":null,"abstract":"This study investigates the effect of ownership structure on the financial performance of listed manufacturing firms in three Sub-Saharan Africa countries (Nigeria, Kenya and South–Africa) based on the critical mass indices of their respective bourse. Relevant data from the financial reports of sampled firms were analyzed using the co-integration test and the system-GMM for a period 2010-2019 using Return on Asset, and Tobin-Q as dependent variables while government ownership, block ownership and institutional ownership concentrations were explanatory variables. The empirical results revealed that all the explanatory variables have significant effect on the performance indicators (ROA, TOBIN Q). The result of robustness checks also revealed that both government and institutional ownership concentrations have predominately negative effect on financial performance for the respective countries while block ownership concentration is largely positive for most of the manufacturing firms. The study recommends that policy makers should create favorable policies to encourage balanced investment from all categories of investors and ensure only few owners who have the wherewithal to diversify and attract skills and competencies to improve firm performance. Government should also retain some ownership in foreign and local firms to enhance shareholders’ confidence","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73942723","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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