The aim of the research is to present the influence of ownership characteristics on the capital structure and business success of companies theoretically and empirically. The research was conducted on a sample of 96 active companies operating within the beverage industry in the Balkan countries in 2019. Empirical research was carried out by using one-factor analysis of variance (ANOVA). The paper presents two models. One is related to the analysis of the effects of foreign ownership to profitability, liquidity, asset and capital structure, while the other model analyses the impact of ownership concentration on the same variables. The results of the models evaluation confirmed the existence of a statistically significant difference only between foreign ownership and liquidity. In this regard, the ownership characteristics are considered not to affect the business success of the sampled companies, but rather, the performance is affected by other internal and external factors.
{"title":"Analysis of the impact of ownership characteristics on the capital structure and business success of companies in the Balkan beverage industry","authors":"Teodora Tica","doi":"10.5937/aneksub2247079t","DOIUrl":"https://doi.org/10.5937/aneksub2247079t","url":null,"abstract":"The aim of the research is to present the influence of ownership characteristics on the capital structure and business success of companies theoretically and empirically. The research was conducted on a sample of 96 active companies operating within the beverage industry in the Balkan countries in 2019. Empirical research was carried out by using one-factor analysis of variance (ANOVA). The paper presents two models. One is related to the analysis of the effects of foreign ownership to profitability, liquidity, asset and capital structure, while the other model analyses the impact of ownership concentration on the same variables. The results of the models evaluation confirmed the existence of a statistically significant difference only between foreign ownership and liquidity. In this regard, the ownership characteristics are considered not to affect the business success of the sampled companies, but rather, the performance is affected by other internal and external factors.","PeriodicalId":33873,"journal":{"name":"Anali Ekonomskog fakulteta u Subotici","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71197706","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}
Nemanja Berber, Maja Strugar-Jelača, Radmila Bjekić, Slobodan Marić
The main aim of this paper is to investigate the effects that gender, age, and educational level have on leadership styles, based on the Multifactor Leadership Questionnaire (MLQ) methodology. The sample used in the research comprises 140 managers from the banking sector in Serbia. The research was performed in 2019. The research methodology includes a literature review in the area of leadership and a statistical analysis of the data collected. The regression models were created to investigate the relations between leadership styles and demographic factors of age and educational level of managers. The results of the research pointed that there are positive statistically significant relations between the transformational and transactional leadership styles and level of education, while in the case of age, there are negative relations observed. The authors presented practical and theoretical implications and limitations of the study.
{"title":"Effects of socio-demographic factors on leadership style in Serbian banking industry","authors":"Nemanja Berber, Maja Strugar-Jelača, Radmila Bjekić, Slobodan Marić","doi":"10.5937/aneksub2247117b","DOIUrl":"https://doi.org/10.5937/aneksub2247117b","url":null,"abstract":"The main aim of this paper is to investigate the effects that gender, age, and educational level have on leadership styles, based on the Multifactor Leadership Questionnaire (MLQ) methodology. The sample used in the research comprises 140 managers from the banking sector in Serbia. The research was performed in 2019. The research methodology includes a literature review in the area of leadership and a statistical analysis of the data collected. The regression models were created to investigate the relations between leadership styles and demographic factors of age and educational level of managers. The results of the research pointed that there are positive statistically significant relations between the transformational and transactional leadership styles and level of education, while in the case of age, there are negative relations observed. The authors presented practical and theoretical implications and limitations of the study.","PeriodicalId":33873,"journal":{"name":"Anali Ekonomskog fakulteta u Subotici","volume":"44 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71197769","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 sets out to investigate the potential advantages of applying insights from the field of cognitive linguistics to teaching prepositions in business English over an approach relying on the traditional linguistic framework. For the study, three of the English prepositions were chosen: to, for, and at. Study participants were divided into two groups: an experimental group, which received a cognitive treatment of the three prepositions; and a control group, which received an instruction relying on traditional accounts. The participants were administered three tests in total: a pretest, an immediate posttest, and a delayed posttest. Their scores were taken on all three tests and then compared within each group and between the groups. To calculate the results, descriptive statistics, t-test of independent means and one-way ANCOVA were used. Grounding the expected results in expert literature, it was anticipated to obtain the results indicative of the advantage of the cognitive approach. According to the study results, the experimental group outperformed the control group at all levels of statistical analysis. The results suggest that a strategic incorporation of a cognitive view of the structure of language into the foreign language classroom could facilitate better understanding, more effective learning and long-term retention of the language points taught.
{"title":"Applying cognitive approach to teaching prepositions in business English: A case study","authors":"Zora Trninić","doi":"10.5937/aneksub2200002t","DOIUrl":"https://doi.org/10.5937/aneksub2200002t","url":null,"abstract":"The paper sets out to investigate the potential advantages of applying insights from the field of cognitive linguistics to teaching prepositions in business English over an approach relying on the traditional linguistic framework. For the study, three of the English prepositions were chosen: to, for, and at. Study participants were divided into two groups: an experimental group, which received a cognitive treatment of the three prepositions; and a control group, which received an instruction relying on traditional accounts. The participants were administered three tests in total: a pretest, an immediate posttest, and a delayed posttest. Their scores were taken on all three tests and then compared within each group and between the groups. To calculate the results, descriptive statistics, t-test of independent means and one-way ANCOVA were used. Grounding the expected results in expert literature, it was anticipated to obtain the results indicative of the advantage of the cognitive approach. According to the study results, the experimental group outperformed the control group at all levels of statistical analysis. The results suggest that a strategic incorporation of a cognitive view of the structure of language into the foreign language classroom could facilitate better understanding, more effective learning and long-term retention of the language points taught.","PeriodicalId":33873,"journal":{"name":"Anali Ekonomskog fakulteta u Subotici","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71197874","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}
Innovative digital technologies and ever-changing business environment have and will continue to transform businesses and industries around the world. This transformation will be even more evident in view of forthcoming technological breakthroughs, and advances in big data analytics, machine learning algorithms, cloud-computing solutions, artificial intelligence, internet of things, and the like. As we live in a data-driven world, technologies are altering work and work-related activities, and everyday activities and interactions. This paper is focused on big data and big data analytics (BDA), which are viewed in the paper from organisational perspective, as a means of improving firm performance and competitiveness. Based on a review of selected literature and researches, the paper aims to explore the extent to which big data analytics is utilized in companies, and to highlight the valuable role big data analytics may play in achieving better business outcomes. Furthermore, the paper briefly presents main challenges that accompany the adoption of big data analytics in companies.
{"title":"Big data analytics as a management tool: An overview, trends and challenges","authors":"Branislav Mašić, Milenko Dželetović, Sasa Nesic","doi":"10.5937/aneksub2248101m","DOIUrl":"https://doi.org/10.5937/aneksub2248101m","url":null,"abstract":"Innovative digital technologies and ever-changing business environment have and will continue to transform businesses and industries around the world. This transformation will be even more evident in view of forthcoming technological breakthroughs, and advances in big data analytics, machine learning algorithms, cloud-computing solutions, artificial intelligence, internet of things, and the like. As we live in a data-driven world, technologies are altering work and work-related activities, and everyday activities and interactions. This paper is focused on big data and big data analytics (BDA), which are viewed in the paper from organisational perspective, as a means of improving firm performance and competitiveness. Based on a review of selected literature and researches, the paper aims to explore the extent to which big data analytics is utilized in companies, and to highlight the valuable role big data analytics may play in achieving better business outcomes. Furthermore, the paper briefly presents main challenges that accompany the adoption of big data analytics in companies.","PeriodicalId":33873,"journal":{"name":"Anali Ekonomskog fakulteta u Subotici","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71197936","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 investigates the influence of certain factors on the efficiency of companies in Serbia using artificial neural networks. According to the results of empirical research using artificial neural networks, the significance of some observed factors on the efficiency of companies in Serbia is as follows: net profit 55.5%, operating revenues 59.4%, operating assets 52.8%, capital 59.6 %, loss 100% and number of employees 51.3%. In order to improve the efficiency of companies in Serbia in the future, it is necessary, in the first place, to manage profits as efficiently as possible (i.e. to reduce losses as much as possible). This is also achieved with the most efficient management of sales, assets, capital and human resources (training, rewarding, job advancement, and flexible employment). Accelerated digitalization of the entire business certainly plays a significant role in that.
{"title":"Analysis of efficiency factors of companies in Serbia based on artificial neural networks","authors":"R. Lukić","doi":"10.5937/aneksub2247097l","DOIUrl":"https://doi.org/10.5937/aneksub2247097l","url":null,"abstract":"This paper investigates the influence of certain factors on the efficiency of companies in Serbia using artificial neural networks. According to the results of empirical research using artificial neural networks, the significance of some observed factors on the efficiency of companies in Serbia is as follows: net profit 55.5%, operating revenues 59.4%, operating assets 52.8%, capital 59.6 %, loss 100% and number of employees 51.3%. In order to improve the efficiency of companies in Serbia in the future, it is necessary, in the first place, to manage profits as efficiently as possible (i.e. to reduce losses as much as possible). This is also achieved with the most efficient management of sales, assets, capital and human resources (training, rewarding, job advancement, and flexible employment). Accelerated digitalization of the entire business certainly plays a significant role in that.","PeriodicalId":33873,"journal":{"name":"Anali Ekonomskog fakulteta u Subotici","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71197756","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}
As one of the pillars of the economy, financial institutions play important role in implementation of the concept of corporate social responsibility (CSR). The paper is focused on CSR in the financial sector, i.e. the perception of employees in banks and insurance companies in Serbia on the level of development of CSR regarding its external dimensions, such as responsibility toward beneficiaries, community and environment. The aim is to identify the employees' perceptions of external aspects of CSR in the financial sector, as well as to determine the impact of selected external aspects on the expected CSR benefits. The results of the conducted empirical research demonstrate a positive attitude of employees in financial institutions in the Republic of Serbia towards external aspects of CSR, as well as statistically significant impact of CSR towards beneficiary and environment on the expected CSR benefits. Additionally, the results indicate that CSR towards the community does not affect the expected benefits. Accordingly, we identified some practical and theoretical implications that can serve as a basis for creating and implementing a strategic approach to CSR in financial institutions.
{"title":"Corporate social responsibility and expected benefits in the financial sector: Empirical evidence from Serbia","authors":"J. Nikolić, Bojana Tosic, Dejana Zlatanović","doi":"10.5937/aneksub2200001n","DOIUrl":"https://doi.org/10.5937/aneksub2200001n","url":null,"abstract":"As one of the pillars of the economy, financial institutions play important role in implementation of the concept of corporate social responsibility (CSR). The paper is focused on CSR in the financial sector, i.e. the perception of employees in banks and insurance companies in Serbia on the level of development of CSR regarding its external dimensions, such as responsibility toward beneficiaries, community and environment. The aim is to identify the employees' perceptions of external aspects of CSR in the financial sector, as well as to determine the impact of selected external aspects on the expected CSR benefits. The results of the conducted empirical research demonstrate a positive attitude of employees in financial institutions in the Republic of Serbia towards external aspects of CSR, as well as statistically significant impact of CSR towards beneficiary and environment on the expected CSR benefits. Additionally, the results indicate that CSR towards the community does not affect the expected benefits. Accordingly, we identified some practical and theoretical implications that can serve as a basis for creating and implementing a strategic approach to CSR in financial institutions.","PeriodicalId":33873,"journal":{"name":"Anali Ekonomskog fakulteta u Subotici","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71197864","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}
Olgica Glavaški, Emilija Beker-Pucar, Stefan Stojkov
After the global economic crisis, a broad consensus has emerged that membership in the Eurozone exerts a strong pressure on fiscal policy, since it is characterized by the dichotomy of common monetary policy and heterogeneous fiscal policies. This paper analyzes the performance of fiscal policies, highlighting the nexus between the public revenues and public expenditure from the angle of 19 Eurozone economies in the period 2010q1-2020q4. The research is based on Dumitrescu & Hurlin (2012) and Juodis, Karavias & Sarafidis (2021) Granger non-causality tests in macro panels in order to test causality direction, as well as Westerlund errorcorrection-based panel cointegration test to analyze fiscal sustainability. Having in mind the heterogeneity and divergency of the Eurozone members, sub-samples were estimated, concerning the core, the periphery and the emerging Eurozone economies. The results imply that all Eurozone economies achieve weak fiscal sustainability, while all economies from the group of Eurozone periphery applied "tax and spend" hypothesis. The empirical finding could be related to the fact that Eurozone periphery economies were hit harder by the global and sovereign debt crisis, and that implemented austerity and bail-out programs were adequate, thus resulting in sustainable fiscal position, reducing heterogeneity of fiscal performance within the Eurozone economies.
{"title":"Public revenues and public expenditure nexus: Evidence of Eurozone heterogeneity","authors":"Olgica Glavaški, Emilija Beker-Pucar, Stefan Stojkov","doi":"10.5937/aneksub2248083g","DOIUrl":"https://doi.org/10.5937/aneksub2248083g","url":null,"abstract":"After the global economic crisis, a broad consensus has emerged that membership in the Eurozone exerts a strong pressure on fiscal policy, since it is characterized by the dichotomy of common monetary policy and heterogeneous fiscal policies. This paper analyzes the performance of fiscal policies, highlighting the nexus between the public revenues and public expenditure from the angle of 19 Eurozone economies in the period 2010q1-2020q4. The research is based on Dumitrescu & Hurlin (2012) and Juodis, Karavias & Sarafidis (2021) Granger non-causality tests in macro panels in order to test causality direction, as well as Westerlund errorcorrection-based panel cointegration test to analyze fiscal sustainability. Having in mind the heterogeneity and divergency of the Eurozone members, sub-samples were estimated, concerning the core, the periphery and the emerging Eurozone economies. The results imply that all Eurozone economies achieve weak fiscal sustainability, while all economies from the group of Eurozone periphery applied \"tax and spend\" hypothesis. The empirical finding could be related to the fact that Eurozone periphery economies were hit harder by the global and sovereign debt crisis, and that implemented austerity and bail-out programs were adequate, thus resulting in sustainable fiscal position, reducing heterogeneity of fiscal performance within the Eurozone economies.","PeriodicalId":33873,"journal":{"name":"Anali Ekonomskog fakulteta u Subotici","volume":"32 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71197920","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 diffusion of technology and the knowledge spillover that accompanies foreign direct investment have made all countries, especially those in transition, interested in this type of capital inflow. Accordingly, in this paper, we have applied econometric panel models to identify determinants of foreign direct investment in Central and Eastern European countries. Our results indicate that differences in foreign direct investment flow in the analysed countries can, to a large extent, be explained by traditional factors such as the availability of skilled labour force, labour costs, infrastructure quality, and market size. In addition, the quality of institutions, primarily democratic government, an independent judiciary, and the absence of corruption, also significantly influence foreign companies' decisions about where to invest in countries in the region.
{"title":"Determinants of foreign direct investment in Central and Eastern Europe: Panel data analysis results","authors":"Snježana Zarić","doi":"10.5937/aneksub2248035z","DOIUrl":"https://doi.org/10.5937/aneksub2248035z","url":null,"abstract":"The diffusion of technology and the knowledge spillover that accompanies foreign direct investment have made all countries, especially those in transition, interested in this type of capital inflow. Accordingly, in this paper, we have applied econometric panel models to identify determinants of foreign direct investment in Central and Eastern European countries. Our results indicate that differences in foreign direct investment flow in the analysed countries can, to a large extent, be explained by traditional factors such as the availability of skilled labour force, labour costs, infrastructure quality, and market size. In addition, the quality of institutions, primarily democratic government, an independent judiciary, and the absence of corruption, also significantly influence foreign companies' decisions about where to invest in countries in the region.","PeriodicalId":33873,"journal":{"name":"Anali Ekonomskog fakulteta u Subotici","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71198321","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 focus of the paper is liquidity analysis, which is an essential tool of the corporate financial management process. Converting assets, especially working capital, into cash is the primary way for a company to obtain the resources it needs to pay its current liabilities. The aim of the research is to look at the movement of current, quick and cash liquidity indicators, their comparative analysis, as well as differences in the level of liquidity for the period 2011-2020 on the example of certain oil companies in the Republic of Serbia. Ratio analysis based on their official financial statements was used to measure the liquidity of selected companies (NIS, OMV and LUKOIL), while the one-way ANOVA test was used to test hypotheses. The research results show that there is a statistically significant difference in the level of current liquidity between NIS and LUKOIL and OMV and LUKOIL, while there is no significant difference between NIS and OMV. There is a statistically significant difference in terms of quick ratios between NIS and LUKOIL, while there is no significant difference between NIS and OMV and OMV and LUKOIL. Observing the cash liquidity indicator, there is no significant difference between these indicators in the companies that are the subject of the research.
{"title":"Liquidity analysis of oil companies in the Republic of Serbia","authors":"Tanja Janaćković, Maša Georgiev, Marko Janaćković","doi":"10.5937/aneksub2248119j","DOIUrl":"https://doi.org/10.5937/aneksub2248119j","url":null,"abstract":"The focus of the paper is liquidity analysis, which is an essential tool of the corporate financial management process. Converting assets, especially working capital, into cash is the primary way for a company to obtain the resources it needs to pay its current liabilities. The aim of the research is to look at the movement of current, quick and cash liquidity indicators, their comparative analysis, as well as differences in the level of liquidity for the period 2011-2020 on the example of certain oil companies in the Republic of Serbia. Ratio analysis based on their official financial statements was used to measure the liquidity of selected companies (NIS, OMV and LUKOIL), while the one-way ANOVA test was used to test hypotheses. The research results show that there is a statistically significant difference in the level of current liquidity between NIS and LUKOIL and OMV and LUKOIL, while there is no significant difference between NIS and OMV. There is a statistically significant difference in terms of quick ratios between NIS and LUKOIL, while there is no significant difference between NIS and OMV and OMV and LUKOIL. Observing the cash liquidity indicator, there is no significant difference between these indicators in the companies that are the subject of the research.","PeriodicalId":33873,"journal":{"name":"Anali Ekonomskog fakulteta u Subotici","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71198385","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 fiscal policy of a country is a crucial source of successful and normal functioning of that country's economy. The implications of fiscal policy can be reflected in both the private and the functioning of the public sector of a country's economy. Public finance is an area of economics dealing with the analysis of tax policy and government spending policy. One of the important areas of public finance research is corporate income tax. Corporate income tax is a direct tax imposed at the national level for the purpose of taxing the profits of certain companies, whether state-owned or privately owned. The aim of this paper is to look at the actual amount of profit tax paid, i.e. by observing the profit before taxation of companies listed on the Belgrade Stock Exchange. The paper considers the effective tax rate of companies and points out the deviation of the same from the legally prescribed corporate income tax rate in the Republic of Serbia and the implications of corporate income tax on the company's business results. The paper presents graphical and tabular representations of the effective tax rates of each company as well as the average effective tax rate of companies listed on the Belgrade Stock Exchange in relation to the law in the period from 2013 to 2020 in the Republic of Serbia. Finally, a statistical analysis of the presented results is given in order to understand more precisely the deviation of the effectiveness of corporate income tax of companies listed on the Belgrade Stock Exchange as well as the analysis of the correlation between the growth of the average pre-tax profit and the growth of the average effective corporate income tax rate.
{"title":"Average effectiveness of corporate income tax on the example of companies listed on the Belgrade Stock Exchange","authors":"Miloš Đaković, Milica Inđić, Danica Cicmil","doi":"10.5937/aneksub2248139d","DOIUrl":"https://doi.org/10.5937/aneksub2248139d","url":null,"abstract":"The fiscal policy of a country is a crucial source of successful and normal functioning of that country's economy. The implications of fiscal policy can be reflected in both the private and the functioning of the public sector of a country's economy. Public finance is an area of economics dealing with the analysis of tax policy and government spending policy. One of the important areas of public finance research is corporate income tax. Corporate income tax is a direct tax imposed at the national level for the purpose of taxing the profits of certain companies, whether state-owned or privately owned. The aim of this paper is to look at the actual amount of profit tax paid, i.e. by observing the profit before taxation of companies listed on the Belgrade Stock Exchange. The paper considers the effective tax rate of companies and points out the deviation of the same from the legally prescribed corporate income tax rate in the Republic of Serbia and the implications of corporate income tax on the company's business results. The paper presents graphical and tabular representations of the effective tax rates of each company as well as the average effective tax rate of companies listed on the Belgrade Stock Exchange in relation to the law in the period from 2013 to 2020 in the Republic of Serbia. Finally, a statistical analysis of the presented results is given in order to understand more precisely the deviation of the effectiveness of corporate income tax of companies listed on the Belgrade Stock Exchange as well as the analysis of the correlation between the growth of the average pre-tax profit and the growth of the average effective corporate income tax rate.","PeriodicalId":33873,"journal":{"name":"Anali Ekonomskog fakulteta u Subotici","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71198399","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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