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Effects of structural changes in the economy of the Republic of Serbia: Old problems, new reform challenges 塞尔维亚共和国经济结构变化的影响:老问题,新的改革挑战
Q3 Economics, Econometrics and Finance Pub Date : 2020-01-01 DOI: 10.5937/ekonhor2003191j
Edvard Jakopin
Structural changes in the economy directly affect macroeconomic and financial stability, income growth, productivity and economic efficiency, social inclusion, and the improved quality of life The global contraction in 2020, caused by COVID-19, the deepest since the Second World War, will cause a great global economic reset, extreme poverty will increase, and the biggest permanent loss will be in human capital The biggest consequences for the Serbian economy will be a slowdown in structural reforms The key performance of the economy in the conjunctural period was positive and affected the growth of the resilience of the economic system, but the research showed that the implemented structural reforms were insufficient and slow, that the old problems are still the causes of low competitiveness In the context of new reform challenges, the focus of activities needs to be shifted towards creating a stimulating environment for the development of domestic entrepreneurship and the growth of private investment in order to increase trust in the entrepreneurship-institution relationship © Ekonomski fakultet Univerziteta u Kragujevcu
经济结构变化直接影响到宏观经济和金融稳定、收入增长、生产力和经济效率、社会包容以及生活质量的提高。2020年由COVID-19造成的全球经济萎缩将是第二次世界大战以来最严重的,将导致全球经济的重大重置,极端贫困将增加。对塞尔维亚经济的最大影响将是结构性改革的放缓。经济在经济危机时期的关键表现是积极的,并影响了经济体系弹性的增长,但研究表明,实施的结构性改革不够和缓慢,老问题仍然是低竞争力的原因在新的改革挑战的背景下,活动的重点需要转向为国内企业的发展和私人投资的增长创造一个刺激的环境,以增加对企业与机构关系的信任©Ekonomski fakultet universverziteta u Kragujevcu
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引用次数: 3
From order to prosperity: The importance of competition in the Social market economy model 从秩序到繁荣:竞争在社会市场经济模式中的重要性
Q3 Economics, Econometrics and Finance Pub Date : 2018-08-01 DOI: 10.5937/EKONHOR1802141I
V. Ivanović
Searching for an institutional structure which enables economic success is in the midst of the practical efforts of governments all around the world, as well as the academic studies endeavoring to understand the sources of success in the most prosperous national economies. The supremacy of the German economy in the European Union, as well as worldwide - from the level of the GDP per capita to high productivity, innovativeness and export performances - is the basic motivation this study rests on. Due to the fact that, unlike a failure, an economic success is always achieved in the long run, this study is aimed at revealing the (historical) institutional roots that have paved the way for the economic success of contemporary Germany. In that context, the model of the Social market economy, i.e. the competitive order (Wettbewerbsordnung), its meaning and importance in solving the allocative equation and reaching the high levels of economic efficiency are the subject matter of analysis in this paper. The key results refer to the identification of the diverse economic and social benefits that a competitive order brings into being, as well as the determination of and pointing to the essential institutional preconditions which such an order is feasible in.
寻找一种使经济成功的制度结构是世界各国政府的实际努力,也是试图了解最繁荣的国家经济成功来源的学术研究的一部分。从人均国内生产总值水平到高生产率、创新能力和出口业绩,德国经济在欧洲联盟乃至世界范围内的霸主地位是本研究的基本动机。由于与失败不同,经济成功总是在长期内实现,因此本研究旨在揭示为当代德国经济成功铺平道路的(历史)制度根源。在这种背景下,社会市场经济的模型,即竞争秩序(Wettbewerbsordnung)及其在解决分配方程和达到高水平经济效率中的意义和重要性是本文分析的主题。关键成果是指对竞争秩序产生的多种经济和社会效益的识别,以及对这种秩序可行的必要制度前提的确定和指出。
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引用次数: 0
Employee Recruitment and Its Relationship with Employee Satisfaction: Verifying the Mediating Role of the Employer Brand 员工招聘及其与员工满意度的关系:雇主品牌的中介作用验证
Q3 Economics, Econometrics and Finance Pub Date : 2018-08-01 DOI: 10.5937/EKONHOR1802127S
Marko Slavković, Goran Pavlović, Marijana Šimić
The transformation of a capital-intensive to knowledge-driven economy has marked the beginning of a new epoch in business doing. Carrying out business activities in an extremely dynamic environment has greatly reduced the importance of traditional concepts and techniques, which is the reason why the focus has shifted to human resources and their management. Accordingly, a company should attract, retain and motivate its employees in order to ensure a high level of their satisfaction by ensuring the achievement of strategic goals. A possible direction of achieving the desired position is based on the development of the employer brand. Therefore, the aim of this paper is to determine the impact of practice in conducting employee recruitment activities on their satisfaction, as well as the influence of the employer brand as a mediator on the identified relationship between the recruitment and satisfaction of employees in Serbia. The results of the conducted empirical research study have proven the existence of a statistically significant positive influence of employee recruitment on satisfaction, while the mediating influence of the employer brand has also been fully confirmed.
资本密集型经济向知识驱动型经济的转变标志着商业活动新时代的开始。在一个极其动态的环境中开展业务活动,大大降低了传统观念和技术的重要性,这就是为什么重点转移到人力资源及其管理上的原因。因此,公司应该通过确保战略目标的实现来吸引、留住和激励员工,以确保他们的高水平满意度。实现理想职位的一个可能方向是基于雇主品牌的发展。因此,本文的目的是确定开展员工招聘活动的实践对其满意度的影响,以及雇主品牌作为中介对塞尔维亚员工招聘与满意度之间确定关系的影响。实证研究结果证明,招聘对员工满意度存在显著的正向影响,雇主品牌的中介作用也得到充分证实。
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引用次数: 17
Investment diversification as a strategy for reducing investment risk 分散投资是一种降低投资风险的策略
Q3 Economics, Econometrics and Finance Pub Date : 2018-08-01 DOI: 10.5937/EKONHOR1802173L
M. Lekovič
Investment diversification is a widely accepted investment strategy, aimed at reducing investment uncertainty, while simultaneously keeping the expected return on investment unaltered. The development of investment diversification coincided with the development of portfolio theory. At the time when traditional portfolio theory was recognized as the leading portfolio management practice, the simple diversification of investments was the most commonly used strategy; however, due to its inability to recognize the importance of the correlation between returns on different investments, simple diversification was later rejected in modern portfolio theory and replaced with efficient diversification. The research study is aimed at conducting a comparative analysis between the simple and efficient diversifications of investments, together with the inevitable analysis of the optimal number of securities in a portfolio and the testing of the validity of the international diversification of investments. By applying a qualitative research methodology, it is concluded that the benefits of the international diversification of investments are still substantial, and as such outweigh specific limitations, and that the number of securities in a portfolio should be increased as long as its marginal benefits, in the form of reduced investment risk, exceed its marginal costs - in terms of increased portfolio management costs, which also represents the main result of the research.
投资多元化是一种被广泛接受的投资策略,旨在减少投资的不确定性,同时保持投资的预期回报不变。投资多元化的发展与投资组合理论的发展不谋而合。在传统投资组合理论被公认为投资组合管理实践的主导理论时,简单的分散投资是最常用的投资策略;然而,由于无法认识到不同投资收益之间相关性的重要性,简单分散投资后来在现代投资组合理论中被抛弃,取而代之的是高效分散投资。本研究的目的是对简单和有效的投资分散进行比较分析,同时对投资组合中最优证券数量进行必然分析,并检验国际投资分散的有效性。通过应用定性研究方法,得出的结论是,国际投资多样化的收益仍然是巨大的,并且超过了特定的限制,并且只要其边际收益(以降低投资风险的形式)超过其边际成本(就增加的投资组合管理成本而言),投资组合中的证券数量就应该增加,这也是研究的主要结果。
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引用次数: 11
Motives for, benefits from and accounting support to the ISO 14001 standard implementation 实施ISO 14001标准的动机、收益和会计支持
Q3 Economics, Econometrics and Finance Pub Date : 2018-04-01 DOI: 10.5937/EKONHOR1801027J
D. Jovanović, Vesna Janjić
With an increase in the number of the companies that have adopted the ISO 14001 standard, the interest demonstrated in research studies regarding the assessment of the motives for and benefits from the ISO 14001 standard implementation has also been increasing. Nevertheless, in spite of the importance of the ISO 14001 standards, a discussion on their importance and the role of accounting in this process yet remains an open issue among researchers and practitioners. Starting from the above said, the main purpose of the research conducted in this paper is to identify the motives for and benefits from the implementation of the ISO 14001 standard and to examine the role of accounting in the implementation process. The empirical research in this paper was performed on the example of the 33 companies that have the obligation to submit their data on the sources of environmental pollution to the National Pollution Register. The data were collected through a poll of the management of the companies via a questionnaire, whereas the data analysis was performed by using various quantitative statistical methods and techniques, and primarily through the application of descriptive statistics and non-parametric tests. The results of the research indicate that the primary motives for the introduction of the ISO 14001 standards are an environmental responsibility, creating the image of a socially responsible company and the improvement of performances, whereas the benefits can be synthesized through the improvement of environmental performances, efficiency and profitability. Also, the results of the research study indicate that the managers of the companies partly recognize the role of accounting in the implementation of the ISO 14001 standard. The main conclusion of the research is that the management of the companies partly recognize the role of accounting in the ISO 14001 standards implementation. The main conclusion of the research is that the management of the companies in Serbia understand the importance of the implementation of the ISO 14001 standards, but not to a proper extent, as well as the role of accounting in that process.
随着采用ISO 14001标准的公司数量的增加,对实施ISO 14001标准的动机和收益评估的研究兴趣也在增加。然而,尽管ISO 14001标准很重要,但关于其重要性和会计在这一过程中的作用的讨论在研究人员和从业者之间仍然是一个悬而未决的问题。从上面所说的开始,本文进行研究的主要目的是确定实施ISO 14001标准的动机和好处,并检查会计在实施过程中的作用。本文以33家有义务向国家污染登记簿提交环境污染源数据的企业为例进行实证研究。数据是通过对公司管理层的问卷调查收集的,而数据分析是通过使用各种定量统计方法和技术进行的,主要是通过应用描述性统计和非参数检验。研究结果表明,引入ISO 14001标准的主要动机是环境责任,塑造具有社会责任的企业形象和提高绩效,而效益可以通过提高环境绩效、效率和盈利能力来综合。此外,研究结果表明,公司的管理者部分认识到会计在实施ISO 14001标准中的作用。研究的主要结论是,公司管理层部分认识到会计在ISO 14001标准实施中的作用。研究的主要结论是,塞尔维亚公司的管理层理解实施ISO 14001标准的重要性,但不是在适当的程度上,以及会计在这一过程中的作用。
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引用次数: 7
Does green accounting matter to the profitability of firms? A canonical assessment 绿色会计对公司的盈利能力有影响吗?标准评估
Q3 Economics, Econometrics and Finance Pub Date : 2018-04-01 DOI: 10.5937/EKONHOR1801017E
A. Patrick, G. Edesiri
Quite a few studies have argued that green accounting does matter to the profitability of a firm; however, little is known about Nigerian firms. To address this gap, this paper seeks to investigate whether green accounting matters to the profitability of Nigerian firms or not. Towards achieving this, an expo-facto research design was adopted and ten non- consumer goods firms listed on the Nigerian Stock Exchange were selected during 2012-2016. The data were sourced from the annual reports and accounts of the selected non-consumer goods firms. The data comprised of green accounting (expenses of community involvement and the amount spent on environmental protection) and profitability (return on equity and Tobin Q) indicators. The data obtained were analyzed by using canonical correlations. The study revealed that there was no significant relationship between green accounting and profitability measures among the non-consumer goods firms. The implication is that whether or not firms engage in green accounting, their profitability level remains unchanged. In addition, this provides evidence that the practice of green accounting among non-consumer goods firms in Nigeria is still at its ad-hoc stage. On the basis of the above findings, we proposed that the Financial Reporting Council of Nigeria and corporate entities should, as a matter of fact, accommodate the growing awareness in green accounting and formulate a disclosure requirement aimed at improving the profitability of firms. This will no doubt enhance green accounting practices among firms and in general policies aimed at enhancing their competitiveness in the industry in which they are domiciled.
相当多的研究认为,绿色会计确实关系到公司的盈利能力;然而,人们对尼日利亚的公司知之甚少。为了解决这一差距,本文试图调查绿色会计是否对尼日利亚公司的盈利能力有影响。为了实现这一目标,采用了实事求是的研究设计,并选择了2012-2016年在尼日利亚证券交易所上市的十家非消费品公司。数据来源于选定的非消费品公司的年度报告和账目。数据由绿色会计(社区参与费用和环境保护支出)和盈利能力(股本回报率和托宾Q)指标组成。采用典型相关法对所得数据进行分析。研究发现,在非消费品企业中,绿色会计与盈利能力之间没有显著的关系。这意味着,无论企业是否从事绿色会计,其盈利水平保持不变。此外,这提供的证据表明,绿色会计的做法在非消费品公司在尼日利亚仍处于其特设阶段。在上述发现的基础上,我们建议尼日利亚财务报告委员会和公司实体应该,事实上,适应日益增长的绿色会计意识,并制定旨在提高公司盈利能力的披露要求。毫无疑问,这将加强公司之间的绿色会计实践,以及旨在提高其在其所在行业竞争力的一般政策。
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引用次数: 11
Biases in the decision-making process and possibilities of overcoming them 决策过程中的偏见和克服它们的可能性
Q3 Economics, Econometrics and Finance Pub Date : 2018-04-01 DOI: 10.5937/EKONHOR1801045N
J. Nikolić
Starting from the normative approach, a decision as the outcome of the decision-making process should represent a rational choice made by a completely informed decision-maker. With the development of the behavioral perspective of the decision-making process, certain mistakes in decision-makers' behavior have been noticed, emerging as a consequence of their limited cognitive capacities and the information asymmetry. The application of heuristics as simplified mental strategies, as well as certain deformations in decision-makers' thinking and perception, leads to the different biases that affect their attitudes and approach to problem solving. The aim of the research study is reflected in identifying the biases that most often occur in the decision-making process, as well as their causes and consequences. The qualitative methodology of the research has been applied in parallel with the relevant methods of analysis and synthesis, deduction and induction. On the basis of the conducted empirical studies, the recommendations for overcoming biases have been defined, which represents the main result of the research study. The derived conclusions with respect to the possibilities of overcoming biases can help decision-makers to improve the decision-making process in real situations.
从规范的方法出发,作为决策过程的结果的决策应该是一个完全知情的决策者做出的理性选择。随着决策过程行为观的发展,人们注意到决策者的某些行为错误,这些错误是由于决策者的认知能力有限和信息不对称造成的。启发式作为一种简化的心理策略的应用,以及决策者思维和感知的某些变形,导致不同的偏见,影响他们解决问题的态度和方法。这项研究的目的反映在确定决策过程中最常发生的偏见,以及它们的原因和后果。本研究的定性方法与分析与综合、演绎与归纳法等相关方法并行应用。在实证研究的基础上,提出了克服偏见的建议,这是本研究的主要成果。在克服偏见的可能性方面得出的结论可以帮助决策者在实际情况下改进决策过程。
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引用次数: 10
Perspectives of the International Monetary System 国际货币体系的视角
Q3 Economics, Econometrics and Finance Pub Date : 2018-04-01 DOI: 10.5937/EKONHOR1801075J
Nenad Ž. Janković
During the 20th century, the dollar gained the status of the world's most important currency. Therefore, the Bretton Woods International Monetary System was based on the dollar. However, in the 1970s, the situation changed significantly - demand for dollars declined, the currencies of the most important European countries became convertible, the volume of international trade increased greatly, international capital flows were liberalized, the external convertibility of the dollar to gold was abolished, and the currencies began to fluctuate. In this way, the original Bretton Woods international monetary system ceased to exist. In addition to the changes, the functioning of the international monetary system is greatly impacted by the fact that the United States recorded an increasing amount of current account deficits from year to year and, in the 1980s, moved from the position of the net creditor to that of the net debtor, that the euro was created on the soil of the EU and that China became the world's largest exporter and one of the largest (if not the largest) world economies. For this reason, the theoretical assumptions of the international monetary system are systematized in the paper, the role of other world currencies is examined, and the question of why the dollar continues to be the dominant world currency is answered.
在20世纪,美元获得了世界上最重要货币的地位。因此,布雷顿森林国际货币体系是以美元为基础的。然而,在20世纪70年代,情况发生了重大变化——对美元的需求下降,欧洲最重要国家的货币可以自由兑换,国际贸易量大幅增加,国际资本流动自由化,美元对黄金的对外可兑换性被废除,货币开始波动。这样,原来的布雷顿森林国际货币体系就不复存在了。除了变化,国际货币体系的功能大大影响的事实,美国越来越多的记录每年的经常账户赤字,在1980年代,从净债权国的位置搬到净债务国,欧元是欧盟的土壤上创建的,中国成为世界最大的出口国和最大的(如果不是最大的)世界经济。出于这个原因,本文对国际货币体系的理论假设进行了系统化,对其他世界货币的作用进行了研究,并回答了为什么美元继续成为主导世界货币的问题。
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引用次数: 1
A Comparative Analysis of Outstanding Claim Reserves 未决索赔准备金的比较分析
Q3 Economics, Econometrics and Finance Pub Date : 2017-12-01 DOI: 10.5937/EKONHOR1703211D
Zlata Djuric, Bojan Maračić
The key processes in the business of insurance companies (IC) which define the financial viability of their business activities, as the most important element, are the adequate amount of technical reserves (TR). The TR level enables a critical insight into the numerous aspects of the insurers industry, which can be a useful indicator for a future business strategy. Through legal regulations and international accounting standards, supervisory authorities are focused on the TR level and their mobility in order to respond to the user’s requests at any time. A COMPARATIVE ANALYSIS OF OUTSTANDING CLAIM RESERVES
在保险公司的业务中,确定其业务活动的财务可行性作为最重要因素的关键过程是足够数量的技术储备。TR水平使我们能够深入了解保险行业的许多方面,这可以成为未来业务战略的有用指标。通过法律法规和国际会计准则,监管机构专注于TR水平及其流动性,以便随时响应用户的要求。未偿索赔准备金的比较分析
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引用次数: 0
The Anatomy of Pension Fraud in Nigeria: Its Motives, the Management and Future of the Nigerian Pension Scheme 剖析尼日利亚养老金欺诈:尼日利亚养老金计划的动机、管理和未来
Q3 Economics, Econometrics and Finance Pub Date : 2017-12-01 DOI: 10.5937/ekonhor1703179a
A. E. Agbata, C. Ekwueme, E. Jeroh
The development of a viable and workable pension scheme in Nigeria has always been clamored not only by pensioners, but also by notable stakeholders and the general populace. This is the reason why the Government of Nigeria decided to adopt the structure of the Chilean-Styled Pension Scheme as a way of dealing with the challenges posed by the previously adopted defined benefit scheme. According to Y. Demola (2008), this decision of the Federal Government of Nigeria has changed the funding structure of the pension scheme in the country from the usual Pay-As-You-Go (PAYG) to the Contributory Pension Scheme (CPS). THE ANATOMY OF PENSION FRAUD IN NIGERIA: ITS MOTIVES, THE MANAGEMENT AND FUTURE OF THE NIGERIAN PENSION SCHEME
在尼日利亚,不仅养老金领取者,而且著名的利益相关者和一般民众一直要求制定一项可行和可行的养老金计划。这就是为什么尼日利亚政府决定采用智利式养恤金计划的结构,作为对付以前通过的确定福利计划所带来的挑战的一种方式。根据Y. Demola(2008)的说法,尼日利亚联邦政府的这一决定改变了该国养老金计划的资金结构,从通常的现收现付(PAYG)到缴费养老金计划(CPS)。剖析尼日利亚养老金欺诈:其动机,尼日利亚养老金计划的管理和未来
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引用次数: 4
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Economic Horizons
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