The equity investments in other entities may result in different level of control over their activities and different consequential relationships between the investors and investees. For the purposes of valuation of the investments in associates and joint ventures, which are followed by significant influence or joint control of the investor, it is necessary to use the equity method. Its application is connected with the number of specific issues that result in a completely different accounting treatment of some business transactions in relation to the acquisition method and consolidation of subsidiaries. The aim of this paper is to analyze the key features and area of application of the equity method, which will be accompanied by the reference to some of its most obvious advantages and disadvantages
{"title":"INFORMACIONI DOMETI I DELOKRUG PRIMENE METODE UDELA","authors":"Vojislav Sekerez","doi":"10.22190/fueo191021013s","DOIUrl":"https://doi.org/10.22190/fueo191021013s","url":null,"abstract":"The equity investments in other entities may result in different level of control over their activities and different consequential relationships between the investors and investees. For the purposes of valuation of the investments in associates and joint ventures, which are followed by significant influence or joint control of the investor, it is necessary to use the equity method. Its application is connected with the number of specific issues that result in a completely different accounting treatment of some business transactions in relation to the acquisition method and consolidation of subsidiaries. The aim of this paper is to analyze the key features and area of application of the equity method, which will be accompanied by the reference to some of its most obvious advantages and disadvantages","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":"68291434","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. Knežević, Maja B. Mijatov, A. Dragin, S. Nedeljkovic
Awareness regarding the increasing importance of human resources for achieving the organizational competitiveness on the market became an integral part of modern economy, where people, together with their knowledge and skills, represent strategic organizational resource. The aim of this research is to assess the influence of employees’ personality dimensions, according to the ‘Big Five’ theory, and certain facets of job satisfaction as well as different facets of job satisfaction on the overall assessment of job satisfaction. The influence of respondents’ socio-demographic characteristics on the individual facets of job satisfaction is also evaluated. The research results indicated that there is a significant difference in the assessment of individual facets of job satisfaction regarding the respondents’ demographic characteristics. Also, statistically significant correlations are found between personality dimensions: ‘Extraversion’, ‘Openness to new experiences’, ‘Conscientiousness’, ‘Agreeableness’ and ‘Neuroticism’ and individual facets of job satisfaction. The research results will be beneficial for providing the appropriate guidelines for improvement of human resource management of large organizations, especially in the case of public-owned organizations within the countries facing significant restructuring changes, such as Serbia.
{"title":"RELATION BETWEEN JOB SATISFACTION OF EMPLOYEES AND THEIR PERSONALITY DIMENSIONS ACCORDING TO THE ‘BIG FIVE’ THEORY","authors":"M. Knežević, Maja B. Mijatov, A. Dragin, S. Nedeljkovic","doi":"10.22190/fueo191003006n","DOIUrl":"https://doi.org/10.22190/fueo191003006n","url":null,"abstract":"Awareness regarding the increasing importance of human resources for achieving the organizational competitiveness on the market became an integral part of modern economy, where people, together with their knowledge and skills, represent strategic organizational resource. The aim of this research is to assess the influence of employees’ personality dimensions, according to the ‘Big Five’ theory, and certain facets of job satisfaction as well as different facets of job satisfaction on the overall assessment of job satisfaction. The influence of respondents’ socio-demographic characteristics on the individual facets of job satisfaction is also evaluated. The research results indicated that there is a significant difference in the assessment of individual facets of job satisfaction regarding the respondents’ demographic characteristics. Also, statistically significant correlations are found between personality dimensions: ‘Extraversion’, ‘Openness to new experiences’, ‘Conscientiousness’, ‘Agreeableness’ and ‘Neuroticism’ and individual facets of job satisfaction. The research results will be beneficial for providing the appropriate guidelines for improvement of human resource management of large organizations, especially in the case of public-owned organizations within the countries facing significant restructuring changes, such as Serbia.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"069-086"},"PeriodicalIF":0.0,"publicationDate":"2020-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43340418","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}
Given the amplitude of migration in Europe and its potential to encourage or hinder the agricultural development, the general objective of this paper is to assess this possible potential on the long term, within a sustainable development frame of reference. Along these lines, we have built up several scenarios that focus on the agricultural results attained by ten EU Member States mainly targeted by immigrants, throughout the 2020-2025 period (sustainable development extrapolation). We have elaborated a set of indicators and within a panel in order to implement the spatial analysis and structural equation modelling (SEM), as methodological endeavour. The results obtained, verified by testing four hypotheses, show that a positive tendency in terms of increased government agri-innovation support is revealed on the long run, through the economic (labour) migration. Our findings outline that conclusive results of labour immigration could reverse generating unbalances in the agricultural sector. Thus, the need to develop accurate tailored policies is more than necessary by acknowledging the complex problems of the rural areas and those of international migration, as well as the major discrepancies among countries and stronger socio-economic interconnections.
{"title":"SUPPORTING IMMIGRATION FOR AN ENHANCED AGRICULTURAL SUSTAINABLE DEVELOPMENT WITHIN THE EUROPEAN UNION","authors":"M. Cristea, G. Noja, Constantin Ştefan Ponea","doi":"10.22190/fueo190927001c","DOIUrl":"https://doi.org/10.22190/fueo190927001c","url":null,"abstract":"Given the amplitude of migration in Europe and its potential to encourage or hinder the agricultural development, the general objective of this paper is to assess this possible potential on the long term, within a sustainable development frame of reference. Along these lines, we have built up several scenarios that focus on the agricultural results attained by ten EU Member States mainly targeted by immigrants, throughout the 2020-2025 period (sustainable development extrapolation). We have elaborated a set of indicators and within a panel in order to implement the spatial analysis and structural equation modelling (SEM), as methodological endeavour. The results obtained, verified by testing four hypotheses, show that a positive tendency in terms of increased government agri-innovation support is revealed on the long run, through the economic (labour) migration. Our findings outline that conclusive results of labour immigration could reverse generating unbalances in the agricultural sector. Thus, the need to develop accurate tailored policies is more than necessary by acknowledging the complex problems of the rural areas and those of international migration, as well as the major discrepancies among countries and stronger socio-economic interconnections.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"001-016"},"PeriodicalIF":0.0,"publicationDate":"2020-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44754664","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}
Traditional perspective relying on agency theory is based on the assumption that the board structure, as an internal corporate governance mechanism, determines board effectiveness and, therefore, financial performance. Board size, board composition and leadership structure are distinguished as relevant variables of the board structure. Since the results of previous empirical studies are often contradictory, examining the correlation between board structural characteristics and corporate performance is a relevant research question, particularly in banking sector. In order to improve effectiveness of internal corporate governance mechanism, and consequently bank performance, the main research objective is to identify the impact of the board size and the board composition on bank performance in the Republic of Serbia using the CAMELS model. We analyze this relation using Ordinary Least Squares regression analysis on balanced panel data-set of 54 observations. The paper contributes to recent research efforts by making conclusions on the effects of board structure on bank performance, in order to define recommendations for improving performance in banking sector.
{"title":"BOARD STRUCTURE AND BANK PERFORMANCE: EVIDENCE FROM SERBIAN BANKING SECTOR","authors":"V. Babić, J. Nikolić, Marijana Šimić","doi":"10.22190/FUEO191006005B","DOIUrl":"https://doi.org/10.22190/FUEO191006005B","url":null,"abstract":"Traditional perspective relying on agency theory is based on the assumption that the board structure, as an internal corporate governance mechanism, determines board effectiveness and, therefore, financial performance. Board size, board composition and leadership structure are distinguished as relevant variables of the board structure. Since the results of previous empirical studies are often contradictory, examining the correlation between board structural characteristics and corporate performance is a relevant research question, particularly in banking sector. In order to improve effectiveness of internal corporate governance mechanism, and consequently bank performance, the main research objective is to identify the impact of the board size and the board composition on bank performance in the Republic of Serbia using the CAMELS model. We analyze this relation using Ordinary Least Squares regression analysis on balanced panel data-set of 54 observations. The paper contributes to recent research efforts by making conclusions on the effects of board structure on bank performance, in order to define recommendations for improving performance in banking sector.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"057-068"},"PeriodicalIF":0.0,"publicationDate":"2020-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48416012","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}
Despite its wide use in practice, Modern Portfolio Theory and Markowitz’s approach to optimization, which is based on quadratic programming and the first two moments of the probability distribution of returns as major parameters, was faced with criticism. Therefore, standard Mean-Variance approach had been modified by applying more appropriate risk measures in optimization algorithm. The aim of this paper is to indicate efficiency of these models as well as justification of their usage in managing stocks portfolio on the Belgrade Stock Exchange.
{"title":"EFFECTS OF APPLYING DIFFERENT RISK MEASURES ON THE OPTIMAL PORTFOLIO SELECTION: THE CASE OF THE BELGRADE STOCK EXCHANGE","authors":"J. Stanković, Evica Petrović, K. Denčić-Mihajlov","doi":"10.22190/fueo191016002s","DOIUrl":"https://doi.org/10.22190/fueo191016002s","url":null,"abstract":"Despite its wide use in practice, Modern Portfolio Theory and Markowitz’s approach to optimization, which is based on quadratic programming and the first two moments of the probability distribution of returns as major parameters, was faced with criticism. Therefore, standard Mean-Variance approach had been modified by applying more appropriate risk measures in optimization algorithm. The aim of this paper is to indicate efficiency of these models as well as justification of their usage in managing stocks portfolio on the Belgrade Stock Exchange.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"017-026"},"PeriodicalIF":0.0,"publicationDate":"2020-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45664269","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}
At the onset of 2019, global economy has been facing a number of macroeconomic issues, which significantly multiplied in the course of the past ten-year period. Slow-moving rate of economic growth, increased fiscal deficits, enormous public and private debt – these are just some of the issues which led to the plunge of the leading stock market indices at the end of 2018. Bearing in mind that S&P 500, DJIA and NASDAQ Composite stopped the multiannual growth trend which started on March 22, 2009, new quakes on the global financial market may well be expected. Unlike developed global stock markets, which hugely recovered from the 2008 crash, the Belgrade Stock Exchange showed no significant growth trend in the observed period. In this respect, regardless of the detected declines of the world’s best known stock market indices, it is not realistic to expect any significant change in the Belgrade Stock Exchange share market, which the conducted empirical research should confirm. The basic goal of the research is to establish the monthly tendencies of BELEXline and BELEX15 movements in the forthcoming one-year period. The basic hypothesis of the research is that there will be no significant changes in the movement of the values of selected stock market indicators in the Belgrade Stock Exchange share market during the one-year period to come.
{"title":"SHORT-TERM FORECASTING OF BELEXLINE AND BELEX15 MOVEMENTS","authors":"M. Jakšić, M. Milanović, D. Stojković","doi":"10.22190/fueo190828007j","DOIUrl":"https://doi.org/10.22190/fueo190828007j","url":null,"abstract":"At the onset of 2019, global economy has been facing a number of macroeconomic issues, which significantly multiplied in the course of the past ten-year period. Slow-moving rate of economic growth, increased fiscal deficits, enormous public and private debt – these are just some of the issues which led to the plunge of the leading stock market indices at the end of 2018. Bearing in mind that S&P 500, DJIA and NASDAQ Composite stopped the multiannual growth trend which started on March 22, 2009, new quakes on the global financial market may well be expected. Unlike developed global stock markets, which hugely recovered from the 2008 crash, the Belgrade Stock Exchange showed no significant growth trend in the observed period. In this respect, regardless of the detected declines of the world’s best known stock market indices, it is not realistic to expect any significant change in the Belgrade Stock Exchange share market, which the conducted empirical research should confirm. The basic goal of the research is to establish the monthly tendencies of BELEXline and BELEX15 movements in the forthcoming one-year period. The basic hypothesis of the research is that there will be no significant changes in the movement of the values of selected stock market indicators in the Belgrade Stock Exchange share market during the one-year period to come. ","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"7 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73289476","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 study investigated the effect of fiscal policy on crowding out capital inflows in Nigeria using annual data between 1970 and 2011 by using the foreign direct investment (FDI) as proxy to capital inflows represent the dependent variable, budget deficit (BD), foreign borrowing (FL) and domestic borrowing (DL) as proxies to fiscal policy are placed as explanatory variables. Cointegration and ECM technique were employed. Our finding showed that in both the short and long run, BD does not crowd out but rather crowd in FDI. In the short run, DL averagely has significant positive impact on FDI. However, in the long run, DL has significant negative impact on FDI. More so, in both short run and long run period, FL has significant negative impact on FDI, therefore, FL crowds out FDI. The speed of adjustment back to equilibrium showed that the explanatory variables have capacity to adjust FDI significantly. The study recommends that the government could try to be aware of the implication of its fiscal policy in running a budget deficit and making proper decision in sourcing for funds to finance the deficit. Foreign borrowing is less expensive in financing budget deficit, so if the government must borrow, it should give preference to this source. Generally, the government should reduce deficit because of the implications inherent in it.
{"title":"THE CROWDING-OUT EFFECT OF FISCAL POLICY ON CAPITAL INFLOWS IN NIGERIA","authors":"A. Babalola, S. Onikosi-Alliyu","doi":"10.22190/fueo190727004b","DOIUrl":"https://doi.org/10.22190/fueo190727004b","url":null,"abstract":"The study investigated the effect of fiscal policy on crowding out capital inflows in Nigeria using annual data between 1970 and 2011 by using the foreign direct investment (FDI) as proxy to capital inflows represent the dependent variable, budget deficit (BD), foreign borrowing (FL) and domestic borrowing (DL) as proxies to fiscal policy are placed as explanatory variables. Cointegration and ECM technique were employed. Our finding showed that in both the short and long run, BD does not crowd out but rather crowd in FDI. In the short run, DL averagely has significant positive impact on FDI. However, in the long run, DL has significant negative impact on FDI. More so, in both short run and long run period, FL has significant negative impact on FDI, therefore, FL crowds out FDI. The speed of adjustment back to equilibrium showed that the explanatory variables have capacity to adjust FDI significantly. The study recommends that the government could try to be aware of the implication of its fiscal policy in running a budget deficit and making proper decision in sourcing for funds to finance the deficit. Foreign borrowing is less expensive in financing budget deficit, so if the government must borrow, it should give preference to this source. Generally, the government should reduce deficit because of the implications inherent in it.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"043-056"},"PeriodicalIF":0.0,"publicationDate":"2020-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45838112","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 paper deals with the nominal and real divergences within the Euro-zone (EZ) as a background for asymmetric European Central Bank’s (ECB’s) monetary transmission. In order to shed more light into these issues, the descriptive analysis of key nominal and real indicators confirms the core-periphery dichotomy within original EZ12 members, as well as the specific position of the emerging EZ19 members. Monetary (interest rate) transmission is explored via estimated Vector Autoregression (VAR) model for the representatives of the core (Germany, France, Belgium), as well as the periphery (Portugal, Spain and Greece), in the period 1999Q1-2018Q4. Observing the transmission of ECB’s interest rate (the shock) to gross domestic product (GDP) growth (the response), the results of variance decompositions and impulse responses indicate that interest rate channel works countercyclical in general. However, while stabilizing (countercyclical) effect is evident for the core (especially Germany), it is almost absent in the case of Greece. The conclusions highlight the vulnerability of the EZ in the sense of heterogeneous membership and, accordingly, asymmetric response to ECB’s monetary impulse. Our findings support the arguments of numerous research papers in emphasizing core-periphery dualism, German dominance hypothesis, and “one size fits some” monetary policy.
{"title":"MACROECONOMIC DIVERGENCES AND ASYMMETRIC RESPONSES WITHIN THE EURO ZONE","authors":"Emilija Beker Pucar, Olgica Glavaški","doi":"10.22190/fueo190914003b","DOIUrl":"https://doi.org/10.22190/fueo190914003b","url":null,"abstract":"The paper deals with the nominal and real divergences within the Euro-zone (EZ) as a background for asymmetric European Central Bank’s (ECB’s) monetary transmission. In order to shed more light into these issues, the descriptive analysis of key nominal and real indicators confirms the core-periphery dichotomy within original EZ12 members, as well as the specific position of the emerging EZ19 members. Monetary (interest rate) transmission is explored via estimated Vector Autoregression (VAR) model for the representatives of the core (Germany, France, Belgium), as well as the periphery (Portugal, Spain and Greece), in the period 1999Q1-2018Q4. Observing the transmission of ECB’s interest rate (the shock) to gross domestic product (GDP) growth (the response), the results of variance decompositions and impulse responses indicate that interest rate channel works countercyclical in general. However, while stabilizing (countercyclical) effect is evident for the core (especially Germany), it is almost absent in the case of Greece. The conclusions highlight the vulnerability of the EZ in the sense of heterogeneous membership and, accordingly, asymmetric response to ECB’s monetary impulse. Our findings support the arguments of numerous research papers in emphasizing core-periphery dualism, German dominance hypothesis, and “one size fits some” monetary policy.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"027-041"},"PeriodicalIF":0.0,"publicationDate":"2020-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44459520","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 the turbulent business environment of today, the competitiveness of all organizations is primarily based on intangible resources. Due to global competition, the permanent actualization of employee competencies is imperative for the long-term survival of organizations. The higher education system bears a special responsibility in this process, as it provides an upgrade for the development of the previously obtained competencies of future employees. Higher education is the system focused on dual core functions of knowledge creation and knowledge transmission through the processes of research and teaching (Houston et al, 2006, 17). To ensure high-level competences in future employees, it is crucial for the higher education system (teaching staff) to provide students with the latest knowledge in their field. The job satisfaction of academic staff is reflected in the quality of teaching and communicating with students (Runhaar, 2017, 646-647). The aim of this paper is to determine the level of general and partial satisfaction of teaching staff at the institutions of higher education in the Republic of Serbia. The method implemented for determining the level of satisfaction, was Spector’s Job Satisfaction Survey – JSS (Spector, 1985), in the form of an on-line questionnaire. The pilot research was conducted in December 2018 and January 2019. The sample consists of 58 respondents - teachers from higher educational institutions in the Republic of Serbia. The results of general job satisfaction survey indicate that teachers are generally ambivalently satisfied with their job, they are neither satisfied, nor dissatisfied. The results of partial satisfaction show that teaching staff is most satisfied with the nature of their job.
在当今动荡的商业环境中，所有组织的竞争力主要基于无形资源。由于全球竞争，员工能力的永久实现对于组织的长期生存是必不可少的。高等教育系统在这一过程中承担着特殊的责任，因为它为未来员工先前获得的能力的发展提供了升级。高等教育是通过研究和教学过程实现知识创造和知识传播双重核心功能的系统(Houston et al .， 2006,17)。为了确保未来员工的高水平能力，高等教育系统(教学人员)向学生提供他们所在领域的最新知识至关重要。学术人员的工作满意度体现在教学质量和与学生的沟通(Runhaar, 2017, 646-647)。本文的目的是确定塞尔维亚共和国高等教育机构教学人员的总体满意度和部分满意度。用于确定满意度水平的方法是斯佩克特的工作满意度调查- JSS(斯佩克特，1985)，以在线问卷的形式。试点研究于2018年12月和2019年1月进行。样本包括58名受访者-塞尔维亚共和国高等教育机构的教师。总体工作满意度调查结果表明，教师普遍对自己的工作感到矛盾，既不满意，也不满意。部分满意度调查结果显示，教师对自己的工作性质最满意。
{"title":"JOB SATISFACTION OF ACADEMIC STAFF IN THE HIGHER EDUCATION SYSTEM OF SERBIA: A PILOT STUDY","authors":"Agneš Slavić, J. Avakumović, Nemanja Berber","doi":"10.22190/fueo1904429s","DOIUrl":"https://doi.org/10.22190/fueo1904429s","url":null,"abstract":"In the turbulent business environment of today, the competitiveness of all organizations is primarily based on intangible resources. Due to global competition, the permanent actualization of employee competencies is imperative for the long-term survival of organizations. The higher education system bears a special responsibility in this process, as it provides an upgrade for the development of the previously obtained competencies of future employees. Higher education is the system focused on dual core functions of knowledge creation and knowledge transmission through the processes of research and teaching (Houston et al, 2006, 17). To ensure high-level competences in future employees, it is crucial for the higher education system (teaching staff) to provide students with the latest knowledge in their field. The job satisfaction of academic staff is reflected in the quality of teaching and communicating with students (Runhaar, 2017, 646-647). The aim of this paper is to determine the level of general and partial satisfaction of teaching staff at the institutions of higher education in the Republic of Serbia. The method implemented for determining the level of satisfaction, was Spector’s Job Satisfaction Survey – JSS (Spector, 1985), in the form of an on-line questionnaire. The pilot research was conducted in December 2018 and January 2019. The sample consists of 58 respondents - teachers from higher educational institutions in the Republic of Serbia. The results of general job satisfaction survey indicate that teachers are generally ambivalently satisfied with their job, they are neither satisfied, nor dissatisfied. The results of partial satisfaction show that teaching staff is most satisfied with the nature of their job.","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"429-442"},"PeriodicalIF":0.0,"publicationDate":"2019-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43355403","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 main goal of the paper is the creative activities valuation using a TOPSIS based decision support algorithm. As defined by Cutler & Carmichael (2010) tourist experience remains in memory, preceded by motivations and expectations and result in satisfaction or dissatisfaction. The creative tourism is not well developed in the Slovak Republic yet, and there is no theoretical evidence what kind of creative tourism activities the tourists are most interested in. As the results show, tourists very strongly prefer creative tourism activities connected to education. The results also show that tourists do not connect creative activities with tourist destinations, which should result in a more involved supply side in the future, with the support of the local economy and sustainability, including the crafts, art and local culture
{"title":"CREATIVE ACTIVITIES VALUATION USING A TOPSIS – BASED DECISION SUPPORT ALGORITHM","authors":"Emilia Madudova, Zuzana Palenčíková","doi":"10.22190/fueo1904377m","DOIUrl":"https://doi.org/10.22190/fueo1904377m","url":null,"abstract":"The main goal of the paper is the creative activities valuation using a TOPSIS based decision support algorithm. As defined by Cutler & Carmichael (2010) tourist experience remains in memory, preceded by motivations and expectations and result in satisfaction or dissatisfaction. The creative tourism is not well developed in the Slovak Republic yet, and there is no theoretical evidence what kind of creative tourism activities the tourists are most interested in. As the results show, tourists very strongly prefer creative tourism activities connected to education. The results also show that tourists do not connect creative activities with tourist destinations, which should result in a more involved supply side in the future, with the support of the local economy and sustainability, including the crafts, art and local culture","PeriodicalId":31607,"journal":{"name":"Facta Universitatis Series Economics and Organization","volume":"1 1","pages":"377-387"},"PeriodicalIF":0.0,"publicationDate":"2019-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41658492","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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