Unconventional monetary policy instruments are used in conditions when monetary policy has exhausted all the usual measures and instruments that are otherwise applied by the central bank in the regular process of conducting monetary policy. The most commonly used instruments are, of course, quantitative easing or quantitative alleviation. The aim of this paper is to point out the application of unconventional monetary policy instruments during the economic crisis caused by the COVID 19 virus pandemic in the most important banks in the world. After a theoretical overview of the concept of quantitative easing, the paper presents the empirical experiences of the Bank of Japan, the Fed, the ECB, and other central banks. Based on the analysis of applied measures and data on the use of quantitative facilities in selected central banks, it can be concluded that they resorted to the use of this instrument in times of crisis to a greater or lesser intensity. Also, the increased liquidity caused by their implementation had a significant impact on aggregate demand, inflation and GDP. This analysis can be useful to the monetary authorities in Serbia if they are to review the application of QE in the leading monetary institutions and help them to draw the conclusions that would lead to the most painless application of this instrument in the Republic of Serbia.
{"title":"APPLICATION OF UNCONVENTIONAL MONETARY POLICY INSTRUMENTS IN MITIGATION OF THE ECONOMIC CONSEQUENCES OF THE COVID 19 VIRUS PANDEMIC","authors":"M. Đorđević, Jadranka Đurović Todorović, M. Cakić","doi":"10.22190/fueo200526018d","DOIUrl":"https://doi.org/10.22190/fueo200526018d","url":null,"abstract":"Unconventional monetary policy instruments are used in conditions when monetary policy has exhausted all the usual measures and instruments that are otherwise applied by the central bank in the regular process of conducting monetary policy. The most commonly used instruments are, of course, quantitative easing or quantitative alleviation. The aim of this paper is to point out the application of unconventional monetary policy instruments during the economic crisis caused by the COVID 19 virus pandemic in the most important banks in the world. After a theoretical overview of the concept of quantitative easing, the paper presents the empirical experiences of the Bank of Japan, the Fed, the ECB, and other central banks. Based on the analysis of applied measures and data on the use of quantitative facilities in selected central banks, it can be concluded that they resorted to the use of this instrument in times of crisis to a greater or lesser intensity. Also, the increased liquidity caused by their implementation had a significant impact on aggregate demand, inflation and GDP. This analysis can be useful to the monetary authorities in Serbia if they are to review the application of QE in the leading monetary institutions and help them to draw the conclusions that would lead to the most painless application of this instrument in the Republic of Serbia.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"231"},"PeriodicalIF":0.0,"publicationDate":"2020-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45575895","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}
Fraud in companies, regardless of its scope and shape, creates some loss not only for the company, but very often for the wider community. Moreover, no company in the world is immune to fraud, be it small or large, in one country or another, at any level of economic and social development. Practical experience has shown that fraud, as well as damage it causes, is inevitable. For these reasons, preventing and detecting all forms of fraud in companies’ operations is very important. To prevent fraud, companies need to understand what motivates people to manipulate and make financial loss. Theorists cite a number of factors that motivate fraud perpetrators to commit manipulation, but all agree that, to commit fraud, three things need to be matched: motivation, opportunity and rationalization. For this reason, the research subject in this paper is a detailed analysis of all the factors that motivate and create opportunities for people of Serbia to commit fraud in companies, as well as the most common excuses they use to justify their manipulations. We surveyed 306 respondents to analyze their motives for possible fraud, as well as their attitude on the number and forms of fraud in the business operations of Serbian companies.
{"title":"POPULATION ATTITUDES TOWARDS COMMITTING FRAUD IN SERBIAN COMPANIES","authors":"D. Dimitrijevic, D. Cvetkovic, Aleksandar Čudan","doi":"10.22190/fueo200407019d","DOIUrl":"https://doi.org/10.22190/fueo200407019d","url":null,"abstract":"Fraud in companies, regardless of its scope and shape, creates some loss not only for the company, but very often for the wider community. Moreover, no company in the world is immune to fraud, be it small or large, in one country or another, at any level of economic and social development. Practical experience has shown that fraud, as well as damage it causes, is inevitable. For these reasons, preventing and detecting all forms of fraud in companies’ operations is very important. To prevent fraud, companies need to understand what motivates people to manipulate and make financial loss. Theorists cite a number of factors that motivate fraud perpetrators to commit manipulation, but all agree that, to commit fraud, three things need to be matched: motivation, opportunity and rationalization. For this reason, the research subject in this paper is a detailed analysis of all the factors that motivate and create opportunities for people of Serbia to commit fraud in companies, as well as the most common excuses they use to justify their manipulations. We surveyed 306 respondents to analyze their motives for possible fraud, as well as their attitude on the number and forms of fraud in the business operations of Serbian companies.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"261-273"},"PeriodicalIF":0.0,"publicationDate":"2020-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47102402","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}
Volodymyr B. Rodchenko, G. Rekun, Eugenia S. Naidina, Yuliia Prus, V. Medenets
The article is devoted to the study of the emergence and deepening of staffing gaps that affect the development of the region under the influence of transforming production dominants in the conditions of Economy 4.0. In the course of the study, the system of factors for the emergence of staffing gaps that affect the sustainable development of the region is generalized. A matrix approach to determining staffing gaps is proposed and sectorial scenarios for preventing them in Kharkiv region economy are developed. The assumption about the perspective structure of economy sectors in Kharkiv region according to the scenarios of inertial and innovative ways of development of Ukraine is formed.
{"title":"STAFFING FOR SCENARIOS OF SUSTAINABLE DEVELOPMENT OF KHARKIV REGION ECONOMIC SECTORS","authors":"Volodymyr B. Rodchenko, G. Rekun, Eugenia S. Naidina, Yuliia Prus, V. Medenets","doi":"10.22190/fueo200501015r","DOIUrl":"https://doi.org/10.22190/fueo200501015r","url":null,"abstract":"The article is devoted to the study of the emergence and deepening of staffing gaps that affect the development of the region under the influence of transforming production dominants in the conditions of Economy 4.0. In the course of the study, the system of factors for the emergence of staffing gaps that affect the sustainable development of the region is generalized. A matrix approach to determining staffing gaps is proposed and sectorial scenarios for preventing them in Kharkiv region economy are developed. The assumption about the perspective structure of economy sectors in Kharkiv region according to the scenarios of inertial and innovative ways of development of Ukraine is formed.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"203"},"PeriodicalIF":0.0,"publicationDate":"2020-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47431081","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 aim of this paper is to evaluate the importance of lean and six sigma concepts and techniques on the basis of systematic knowledge gathered from relevant scientific sources, both for discovering supply chain processes where potential waste can occur and for improving the quality of those processes. The paper will first outline the key features and effects of applying lean and six sigma concepts in manufacturing and supply chains. The focus is on the frameworks and potentials of implementing the lean concept in the Republic of Serbia. Then, the possibilities of integrating these concepts into the lean six sigma concept are presented and its role in eliminating defects in business processes. The penultimate part of the paper outlines the key features of lean supply chain while the final part contains the mathematical frameworks for designing six sigma supply chains.
{"title":"THE IMPORTANCE OF LEAN MANUFACTURING AND SIX SIGMA CONCEPT FOR QUALITY MANAGEMENT OF SUPPLY CHAIN BUSINESS PROCESSES","authors":"J. Stojanović, Goran Milovanović","doi":"10.22190/fueo200118021s","DOIUrl":"https://doi.org/10.22190/fueo200118021s","url":null,"abstract":"The aim of this paper is to evaluate the importance of lean and six sigma concepts and techniques on the basis of systematic knowledge gathered from relevant scientific sources, both for discovering supply chain processes where potential waste can occur and for improving the quality of those processes. The paper will first outline the key features and effects of applying lean and six sigma concepts in manufacturing and supply chains. The focus is on the frameworks and potentials of implementing the lean concept in the Republic of Serbia. Then, the possibilities of integrating these concepts into the lean six sigma concept are presented and its role in eliminating defects in business processes. The penultimate part of the paper outlines the key features of lean supply chain while the final part contains the mathematical frameworks for designing six sigma supply chains.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"285"},"PeriodicalIF":0.0,"publicationDate":"2020-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46498543","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}
With recent developments in the medical field and faster access to medical professional and healthcare services providers, accompanied by better education and a higher level of hygiene, life expectancy for both males and females in Romania is increasing at a steady pace. From a medical point of view, this is a remarkable accomplishment when compared with past decades when the average life expectancy was much lower than in recent times. A longer life span will automatically, for the most part, have the unwanted effect of increasing spending on medical services on behalf of the state to ensure a better quality of life for the elderly. Therefore, the public health system will be placed under additional pressure on behalf of healthcare providers to offer higher quality services to the elderly. This paper aims to explore the degree of influence that age and income have on the growing costs of medical expenditures on a per capita level. The method employed in exploring to what extent the growing share of elderly individuals and income can explain the rise in medical expenditures is a multiple linear regression model. The expected results are that as the share of elderly individuals grows within Romania’s population and similarly as income on a per capita bases rises, there will be a noticeable increase in per capita medical expenditures.
{"title":"THE RELATIONSHIP BETWEEN POPULATION AGING AND MEDICAL EXPENDITURES IN ROMANIA","authors":"Lucian Adrian Sala","doi":"10.22190/fueo191223012s","DOIUrl":"https://doi.org/10.22190/fueo191223012s","url":null,"abstract":"With recent developments in the medical field and faster access to medical professional and healthcare services providers, accompanied by better education and a higher level of hygiene, life expectancy for both males and females in Romania is increasing at a steady pace. From a medical point of view, this is a remarkable accomplishment when compared with past decades when the average life expectancy was much lower than in recent times. A longer life span will automatically, for the most part, have the unwanted effect of increasing spending on medical services on behalf of the state to ensure a better quality of life for the elderly. Therefore, the public health system will be placed under additional pressure on behalf of healthcare providers to offer higher quality services to the elderly. This paper aims to explore the degree of influence that age and income have on the growing costs of medical expenditures on a per capita level. The method employed in exploring to what extent the growing share of elderly individuals and income can explain the rise in medical expenditures is a multiple linear regression model. The expected results are that as the share of elderly individuals grows within Romania’s population and similarly as income on a per capita bases rises, there will be a noticeable increase in per capita medical expenditures.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"17 1","pages":"157-172"},"PeriodicalIF":0.0,"publicationDate":"2020-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42909422","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 compare the type of public-private partnership (PPP) projects and their sectoral structure in developed and developing countries. This will be done through a comparative analysis of eight countries that belong to the categories of developed and developing countries and besides that implement numerous PPP projects. The results of the analysis indicate that developed countries chosen for this analysis implement more projects and record a higher total value of projects. Their projects are more diversified and apart from economic infrastructure encompass social infrastructure, which does have a higher number of projects, and in some developed countries higher value than economic infrastructure sectors. There is some overlapping between the groups and the sectors as this is not a strict rule that could be applied to all the countries, as each economy is an individual and specific case. As adequate PPP structure leads to economic growth and prosperity of the national economy, it is recommended to adjust the institutional framework, laws and regulations for PPP, attract more private capital, develop basic economic infrastructure and with its help attempt to converge the PPP project structure of developing countries to that of developed countries. The final goal is to have well developed economic infrastructure and then invest more in social infrastructure projects that can affect the wellbeing of all residents in an economy
{"title":"COMPARATIVE ANALYSIS OF PPP PROJECTS SECTORAL STRUCTURE IN DEVELOPED AND DEVELOPING COUNTRIES","authors":"A. Đorđević, B. Rakić","doi":"10.22190/fueo200304014d","DOIUrl":"https://doi.org/10.22190/fueo200304014d","url":null,"abstract":"This paper aims to compare the type of public-private partnership (PPP) projects and their sectoral structure in developed and developing countries. This will be done through a comparative analysis of eight countries that belong to the categories of developed and developing countries and besides that implement numerous PPP projects. The results of the analysis indicate that developed countries chosen for this analysis implement more projects and record a higher total value of projects. Their projects are more diversified and apart from economic infrastructure encompass social infrastructure, which does have a higher number of projects, and in some developed countries higher value than economic infrastructure sectors. There is some overlapping between the groups and the sectors as this is not a strict rule that could be applied to all the countries, as each economy is an individual and specific case. As adequate PPP structure leads to economic growth and prosperity of the national economy, it is recommended to adjust the institutional framework, laws and regulations for PPP, attract more private capital, develop basic economic infrastructure and with its help attempt to converge the PPP project structure of developing countries to that of developed countries. The final goal is to have well developed economic infrastructure and then invest more in social infrastructure projects that can affect the wellbeing of all residents in an economy","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"187-202"},"PeriodicalIF":0.0,"publicationDate":"2020-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41663182","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 fourth industrial revolution is about the development of Industry 4.0, the changing of the production paradigm and economic digitalization. The research subject are the development conditions of Industry 4.0 in the Republic of Serbia. The main research objective is to point out the importance of the efficient development of Industry 4.0 and the implementation of structural changes through the process of digitalization and application of technological innovation in the manufacturing industry. The method of analysis is used to identify the concepts of Industry 4.0 and the new industrial paradigm. The comparative method is used to compare technological criteria and changes. The development conditions of Industry 4.0 are analyzed indirectly through technological criteria and innovation, i.e. data obtained from survey on innovation, individual innovation and technology indicators and composite indicators. Industry 4.0 is an important factor in technological and structural change, economic growth and competitiveness. The research results show that the Republic of Serbia lacks incentives for the development of Industry 4.0. The research results are useful to industrial policy makers as they point to some of the key factors and directions of change to create the conditions for the development of Industry 4.0, the manufacturing industry and the digital transformation of the economy.
{"title":"USLOVI RAZVOJA INDUSTRIJA 4.0 U REPUBLICI SRBIJI","authors":"Vladimir Mičić","doi":"10.22190/fueo191112008m","DOIUrl":"https://doi.org/10.22190/fueo191112008m","url":null,"abstract":"The fourth industrial revolution is about the development of Industry 4.0, the changing of the production paradigm and economic digitalization. The research subject are the development conditions of Industry 4.0 in the Republic of Serbia. The main research objective is to point out the importance of the efficient development of Industry 4.0 and the implementation of structural changes through the process of digitalization and application of technological innovation in the manufacturing industry. The method of analysis is used to identify the concepts of Industry 4.0 and the new industrial paradigm. The comparative method is used to compare technological criteria and changes. The development conditions of Industry 4.0 are analyzed indirectly through technological criteria and innovation, i.e. data obtained from survey on innovation, individual innovation and technology indicators and composite indicators. Industry 4.0 is an important factor in technological and structural change, economic growth and competitiveness. The research results show that the Republic of Serbia lacks incentives for the development of Industry 4.0. The research results are useful to industrial policy makers as they point to some of the key factors and directions of change to create the conditions for the development of Industry 4.0, the manufacturing industry and the digital transformation of the economy.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68291444","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. Stamatović, Aleksandar Jovičić, Danijela Parojčić
Appointment scheduling applications (ASA) are used by service providers (hair salons, dentists, physicians), i.e. B2B customers, and service consumers (people), i.e. B2C customers. The objective is to investigate if innovation, i.e. customization may be applied to enable the product to support specificities of the Serbian market (SSM). Based on the environmental and competitive (internal and external) analysis and comparison of global vs. customized product (ASA) we recommend the launch of customization and sales departments aiming to place the customized product on the Serbian market. Applied research methodologies include SWOT and PESTEL analysis, strategic group mapping, Porter’s value chain, Boston consulting group matrix, McKinsey’s seven ‘S’ model, COMB analysis, Porter’s five forces, Ansoff’s matrix, stakeholder’s analysis, and the balanced scorecard. The result is a business plan for the market entry of a software producer on the Serbian market. Appropriate combination of strategies – innovation and customization is formulated on the operational level.
{"title":"CUSTOMIZATION – INNOVATION WHEN OFF-THE-SHELF IS OUT OF THE QUESTION","authors":"M. Stamatović, Aleksandar Jovičić, Danijela Parojčić","doi":"10.22190/fueo191121011s","DOIUrl":"https://doi.org/10.22190/fueo191121011s","url":null,"abstract":"Appointment scheduling applications (ASA) are used by service providers (hair salons, dentists, physicians), i.e. B2B customers, and service consumers (people), i.e. B2C customers. The objective is to investigate if innovation, i.e. customization may be applied to enable the product to support specificities of the Serbian market (SSM). Based on the environmental and competitive (internal and external) analysis and comparison of global vs. customized product (ASA) we recommend the launch of customization and sales departments aiming to place the customized product on the Serbian market. Applied research methodologies include SWOT and PESTEL analysis, strategic group mapping, Porter’s value chain, Boston consulting group matrix, McKinsey’s seven ‘S’ model, COMB analysis, Porter’s five forces, Ansoff’s matrix, stakeholder’s analysis, and the balanced scorecard. The result is a business plan for the market entry of a software producer on the Serbian market. Appropriate combination of strategies – innovation and customization is formulated on the operational level.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"141-155"},"PeriodicalIF":0.0,"publicationDate":"2020-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49160651","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}
A range of explanations had been offered for the apparent change in oil price-inflation relationship outcomes ranging from the possible use of alternate energy sources, change in the structure of output regarding fewer oil intensive sectors and the role of fiscal and monetary in the affected oil-exporting countries. These changes had drawn the attention of stakeholders, government and the society at large to the anecdotal relationship among oil price volatility, inflation, and output in Africa oil-exporting countries. This study leans empirical credence to the impact of oil price volatility on inflation and economic performance in the Africa oil-exporting countries from 1995 through 2017. We employed the Pool Mean Group estimation procedure with the inference drawn at a 5% level of significance. We found that oil price volatility had a negative and significant effect on inflation in Africa oil-exporting countries. The study concluded that oil price volatility had a substantial impact on inflation in the Africa oil-exporting countries. The study, therefore, recommended that Africa oil-exporting countries should adopt precautionary measures to monitor inflation potentials due to different responses of inflation to positive and negative oil price shocks.
{"title":"EXPLORING THE INFLATIONARY EFFECT OF OIL PRICE VOLATILITY IN AFRICA’S OIL EXPORTING COUNTRIES","authors":"S. Ogede, E. George, I. Adekunle","doi":"10.22190/fueo191202009o","DOIUrl":"https://doi.org/10.22190/fueo191202009o","url":null,"abstract":"A range of explanations had been offered for the apparent change in oil price-inflation relationship outcomes ranging from the possible use of alternate energy sources, change in the structure of output regarding fewer oil intensive sectors and the role of fiscal and monetary in the affected oil-exporting countries. These changes had drawn the attention of stakeholders, government and the society at large to the anecdotal relationship among oil price volatility, inflation, and output in Africa oil-exporting countries. This study leans empirical credence to the impact of oil price volatility on inflation and economic performance in the Africa oil-exporting countries from 1995 through 2017. We employed the Pool Mean Group estimation procedure with the inference drawn at a 5% level of significance. We found that oil price volatility had a negative and significant effect on inflation in Africa oil-exporting countries. The study concluded that oil price volatility had a substantial impact on inflation in the Africa oil-exporting countries. The study, therefore, recommended that Africa oil-exporting countries should adopt precautionary measures to monitor inflation potentials due to different responses of inflation to positive and negative oil price shocks.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"113-125"},"PeriodicalIF":0.0,"publicationDate":"2020-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42472577","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}
Decision trees made by visualizing the decision-making process solve a problem that requires more successive decisions to be made. They are also used for classification and to solve problems usually addressed by regression analysis. One of the problems of classification that arises is the proper classification of bankrupt companies and non-bankruptcy companies, which is then used to predict the likelihood of bankruptcy. The paper uses a random forests decision tree to predict bankruptcy of companies in the Republic of Serbia. The research results show the high predictive power of the model with as much as 98% average prediction accuracy, and it is recommended for auditors, investors, financial institutions and other stakeholders to predict bankruptcy of companies in Republic of Serbia.
{"title":"DEVELOPING A MODEL TO PREDICT CORPORATE BANKRUPTCY USING DECISION TREE IN THE REPUBLIC OF SERBIA","authors":"Sanja Vlaović Begović, Ljiljana Bonić","doi":"10.22190/fueo191118010v","DOIUrl":"https://doi.org/10.22190/fueo191118010v","url":null,"abstract":"Decision trees made by visualizing the decision-making process solve a problem that requires more successive decisions to be made. They are also used for classification and to solve problems usually addressed by regression analysis. One of the problems of classification that arises is the proper classification of bankrupt companies and non-bankruptcy companies, which is then used to predict the likelihood of bankruptcy. The paper uses a random forests decision tree to predict bankruptcy of companies in the Republic of Serbia. The research results show the high predictive power of the model with as much as 98% average prediction accuracy, and it is recommended for auditors, investors, financial institutions and other stakeholders to predict bankruptcy of companies in Republic of Serbia.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"127-139"},"PeriodicalIF":0.0,"publicationDate":"2020-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47754296","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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