In terms of modern life, consumers have an increasing number of options when it comes to choosing a restaurant when they do not wish to eat at their homes. Fast food restaurants represent one of those options. In addition to domestic fast food restaurants, the development of global restaurant chains is also noticeable. The purpose of this paper is to identify the factors that affect the evaluations of products and services and the intentions of users in terms of using the services of fast food restaurants. In relation to that, it is important to analyze the factor of cosmopolitanism and tradition. Cosmopolitanism, as the willingness of people to cooperate with other cultures and tradition, and tradition, as a reflection of respect for the customs and ideas that are imposed on individuals by their culture or religion, affect consumers’ intentions and their willingness to use the services of foreign fast food restaurants. In accordance with that, the purpose of this research study is to determine if and how cosmopolitanism and tradition affect the evaluations of products and services and consumers’ intention concerning foreign restaurant chains and domestic fast food restaurants of both the local and the family types. The results of the conducted empirical research show that cosmopolitanism positively affects the evaluations of the products and services of foreign restaurants and that tradition positively affects the evaluations of the products and services of domestic fast food restaurants.
{"title":"The effects of cosmopolitanism and tradition on the evaluation and intentions of the users of fast food restaurants","authors":"Srdjan Šapić","doi":"10.5937/EKONHOR1702081S","DOIUrl":"https://doi.org/10.5937/EKONHOR1702081S","url":null,"abstract":"In terms of modern life, consumers have an increasing number of options when it comes to choosing a restaurant when they do not wish to eat at their homes. Fast food restaurants represent one of those options. In addition to domestic fast food restaurants, the development of global restaurant chains is also noticeable. The purpose of this paper is to identify the factors that affect the evaluations of products and services and the intentions of users in terms of using the services of fast food restaurants. In relation to that, it is important to analyze the factor of cosmopolitanism and tradition. Cosmopolitanism, as the willingness of people to cooperate with other cultures and tradition, and tradition, as a reflection of respect for the customs and ideas that are imposed on individuals by their culture or religion, affect consumers’ intentions and their willingness to use the services of foreign fast food restaurants. In accordance with that, the purpose of this research study is to determine if and how cosmopolitanism and tradition affect the evaluations of products and services and consumers’ intention concerning foreign restaurant chains and domestic fast food restaurants of both the local and the family types. The results of the conducted empirical research show that cosmopolitanism positively affects the evaluations of the products and services of foreign restaurants and that tradition positively affects the evaluations of the products and services of domestic fast food restaurants.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"91 1","pages":"81-93"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87117336","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}
Mergers and acquisitions (M&A) are the important mechanisms through which companies can achieve growth, gain access to new markets and diversify their activities. Although companies engage themselves in M&As with optimism, empirical evidence shows that many M&A transactions are not successful. Therefore, research is often focused on the identification of the ways to improve post-acquisition performance. One of the key success factors of M&A is to provide adequate transformational leadership during the process of change, especially in the critical phase of the post-acquisition integration. A transformational leader should provide incentives and support to the employees in order for them to accept changes and focus on achieving challenging goals. This paper explores the impact of the different dimensions of transformational leadership on the post-acquisition performance based on the example of a company operating in the Republic of Serbia’s retail sector, which was the subject of a cross-border acquisition. In order to ensure the adequate representativeness of the sample, a questionnaire was distributed in all parts of the company throughout the Republic of Serbia. The results of this study show that all the dimensions of transformational leadership positively impact post-acquisition performance. The “individual consideration” dimension of transformational leadership has the strongest impact on post-acquisition performance, whereas the “intellectual simulation” dimension has the weakest.
{"title":"The impact of dimensions of transformational leadership on post-acquisition performance of acquired company","authors":"Sladjana Savovic","doi":"10.5937/EKONHOR1702095S","DOIUrl":"https://doi.org/10.5937/EKONHOR1702095S","url":null,"abstract":"Mergers and acquisitions (M&A) are the important mechanisms through which companies can achieve growth, gain access to new markets and diversify their activities. Although companies engage themselves in M&As with optimism, empirical evidence shows that many M&A transactions are not successful. Therefore, research is often focused on the identification of the ways to improve post-acquisition performance. One of the key success factors of M&A is to provide adequate transformational leadership during the process of change, especially in the critical phase of the post-acquisition integration. A transformational leader should provide incentives and support to the employees in order for them to accept changes and focus on achieving challenging goals. This paper explores the impact of the different dimensions of transformational leadership on the post-acquisition performance based on the example of a company operating in the Republic of Serbia’s retail sector, which was the subject of a cross-border acquisition. In order to ensure the adequate representativeness of the sample, a questionnaire was distributed in all parts of the company throughout the Republic of Serbia. The results of this study show that all the dimensions of transformational leadership positively impact post-acquisition performance. The “individual consideration” dimension of transformational leadership has the strongest impact on post-acquisition performance, whereas the “intellectual simulation” dimension has the weakest.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"92 1","pages":"95-108"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85671416","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}
Income inequality has gained considerable prominence worldwide in recent years. The growing discontent among the lower-income segment of industrialized societies is limited largely to resentment because of economic wealth being perceived to be steadily concentrating among fewer people. Quantified economic inequality does not necessarily mean the extreme deprivation of people, especially in Europe and North America. There will be no revolutionary-scale social unrest among the middle class if their expectation of satisfactory wellbeing is continually met. The connection between income inequality and poverty is uncertain because of the variable definition of poverty. The classical characterization of poverty is largely deficient as the actual economic hardships encountered by the lowest-income segment of society are never fully described in the socio-geographic context. What is deprivation in Europe and North America may be considered to be “luxurious” in economically poorer countries.
{"title":"Income inequality: Does it matter?","authors":"Alfred Wong, C. Ribeiro","doi":"10.5937/EKONHOR1702141W","DOIUrl":"https://doi.org/10.5937/EKONHOR1702141W","url":null,"abstract":"Income inequality has gained considerable prominence worldwide in recent years. The growing discontent among the lower-income segment of industrialized societies is limited largely to resentment because of economic wealth being perceived to be steadily concentrating among fewer people. Quantified economic inequality does not necessarily mean the extreme deprivation of people, especially in Europe and North America. There will be no revolutionary-scale social unrest among the middle class if their expectation of satisfactory wellbeing is continually met. The connection between income inequality and poverty is uncertain because of the variable definition of poverty. The classical characterization of poverty is largely deficient as the actual economic hardships encountered by the lowest-income segment of society are never fully described in the socio-geographic context. What is deprivation in Europe and North America may be considered to be “luxurious” in economically poorer countries.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"78 1","pages":"141-155"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88379557","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}
Economic, political and militaristic tensions between countries are present throughout the world. The devastating effects of the global financial crisis are still generating the ever-increasing instability of the world economy. Patriotism and nationalism, as well as animosity towards the economic and military policies of certain foreign countries, seem to be on the rise across many countries and nations in recent years. It is precisely the current situation in the world that is favorable for encouraging citizens to purchase domestic products. The policy can be particularly useful for lessdeveloped import-oriented economies. Thus, in the conditions of the economic crisis, the study of consumer ethnocentrism is gaining in importance. The paper examines the effects of the patriotism of the citizens of the Republic of Serbia and animosity towards the EU on consumer ethnocentrism. The results show that both these variables stand out as the statistically significant antecedents of consumer ethnocentrism; however, it should be noticed that patriotism shows a stronger influence on the consumer’s orientation towards buying domestic products. The research findings indicate that love of one’s country may direct consumer choices towards domestic brands, despite the positive image and high quality of foreign ones. In addition, due to citizens’ strong dislike towards the EU economic policy, some of them may decide to buy lower-quality domestic products; however, this does not necessarily negatively affect one’s perception of foreign products.
{"title":"Effects of the Republic of Serbia’s citizens’ patriotism and animosity towards the European union on consumer ethnocentrism","authors":"Veljko Marinković","doi":"10.5937/EKONHOR1701003M","DOIUrl":"https://doi.org/10.5937/EKONHOR1701003M","url":null,"abstract":"Economic, political and militaristic tensions between countries are present throughout the world. The devastating effects of the global financial crisis are still generating the ever-increasing instability of the world economy. Patriotism and nationalism, as well as animosity towards the economic and military policies of certain foreign countries, seem to be on the rise across many countries and nations in recent years. It is precisely the current situation in the world that is favorable for encouraging citizens to purchase domestic products. The policy can be particularly useful for lessdeveloped import-oriented economies. Thus, in the conditions of the economic crisis, the study of consumer ethnocentrism is gaining in importance. The paper examines the effects of the patriotism of the citizens of the Republic of Serbia and animosity towards the EU on consumer ethnocentrism. The results show that both these variables stand out as the statistically significant antecedents of consumer ethnocentrism; however, it should be noticed that patriotism shows a stronger influence on the consumer’s orientation towards buying domestic products. The research findings indicate that love of one’s country may direct consumer choices towards domestic brands, despite the positive image and high quality of foreign ones. In addition, due to citizens’ strong dislike towards the EU economic policy, some of them may decide to buy lower-quality domestic products; however, this does not necessarily negatively affect one’s perception of foreign products.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"27 1","pages":"3-15"},"PeriodicalIF":0.0,"publicationDate":"2017-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74766929","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 objective of this work is to analyze the real state in the field of the Macedonian Health and Social Policy, the pension system and human security at work. This type of analysis will make it possible to deduce certain conclusions and recommendations about accomplishing a higher level of general human security in the Former Yugoslav Republic of Macedonia. The results of this study enable us to conclude that, in the Former Yugoslav Republic of Macedonia, living expenses have been permanently increased, the unemployment rate is high and the average minimum wages paid in the region are the lowest, which all contributes to profound poverty in the country. It is also necessary to revise the laws and regulations in the field of workers’ health and security, make urgent changes in order to ensure the sustainability of the pension system and also start the reforms that will provide a sustainable and efficient health care system.
{"title":"Social and economic aspects of the human security concept","authors":"Meri Boshkoska","doi":"10.5937/EKONHOR1701061B","DOIUrl":"https://doi.org/10.5937/EKONHOR1701061B","url":null,"abstract":"The objective of this work is to analyze the real state in the field of the Macedonian Health and Social Policy, the pension system and human security at work. This type of analysis will make it possible to deduce certain conclusions and recommendations about accomplishing a higher level of general human security in the Former Yugoslav Republic of Macedonia. The results of this study enable us to conclude that, in the Former Yugoslav Republic of Macedonia, living expenses have been permanently increased, the unemployment rate is high and the average minimum wages paid in the region are the lowest, which all contributes to profound poverty in the country. It is also necessary to revise the laws and regulations in the field of workers’ health and security, make urgent changes in order to ensure the sustainability of the pension system and also start the reforms that will provide a sustainable and efficient health care system.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"1 1","pages":"61-74"},"PeriodicalIF":0.0,"publicationDate":"2017-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83068525","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 metamorphosis of business processes and corporate strategies is rapidly progressing across the globe. The critical role of intangibles in corporate performance is receiving its due recognition. Complex tradeable financial products are flooding financial markets. In attempts to gear up for the challenge of financial reporting in this upstaged environment, standard setters have substantively restructured reporting systems, with 'fair value' being the bedrock thereof. Moving away from the traditional 'revenue/ expense' matching measure of income towards the 'asset/liability' measure together with the adoption of the Hicksian concept of income is clearly discernible in the pronouncements and ongoing projects of the US Financial Accounting Standards Board (hereinafter referred to as FASB) and the International Accounting Standards Board (hereinafter referred to as IASB ). In this article, an attempt is made to analyze the issues that are controversial and equivocal, or those that need further refinement insofar as fair value accounting is concerned.
{"title":"On the conceptual underpinnings of fair value accounting","authors":"J. Singh","doi":"10.5937/EKONHOR1701045K","DOIUrl":"https://doi.org/10.5937/EKONHOR1701045K","url":null,"abstract":"The metamorphosis of business processes and corporate strategies is rapidly progressing across the globe. The critical role of intangibles in corporate performance is receiving its due recognition. Complex tradeable financial products are flooding financial markets. In attempts to gear up for the challenge of financial reporting in this upstaged environment, standard setters have substantively restructured reporting systems, with 'fair value' being the bedrock thereof. Moving away from the traditional 'revenue/ expense' matching measure of income towards the 'asset/liability' measure together with the adoption of the Hicksian concept of income is clearly discernible in the pronouncements and ongoing projects of the US Financial Accounting Standards Board (hereinafter referred to as FASB) and the International Accounting Standards Board (hereinafter referred to as IASB ). In this article, an attempt is made to analyze the issues that are controversial and equivocal, or those that need further refinement insofar as fair value accounting is concerned.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"45 1","pages":"45-60"},"PeriodicalIF":0.0,"publicationDate":"2017-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88076147","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}
{"title":"Entrepreneurial culture: Some initial assessments in Vietnam","authors":"Loc H. Nguyen","doi":"10.5937/ekonhor1603233N","DOIUrl":"https://doi.org/10.5937/ekonhor1603233N","url":null,"abstract":"","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"1 1","pages":"227-239"},"PeriodicalIF":0.0,"publicationDate":"2016-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75882435","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 the fact that most of the theories and models of leadership are solely focused on the leader as the central figure of the leadership process, there is a need to draw attention to the importance of the followers' role in the organizational leadership process, which is the main subject of this paper. Newer approaches to leadership provide a framework for the study of a reciprocal influence in the leadership process, in which the behavior of the leader appears as both an independent and a dependent variable at the same time. The aim is to draw attention to the necessity of adjusting leadership styles to the characteristics of the followers and encourage the followers' active role in leadership, as the basic precondition for the effectiveness of the entire leadership process. The paper reviews the evolution of the role of the followers in organizational leadership through various approaches and models of leadership, from the attribution of potential leadership qualities through the process of attribution, through the followers' influence in the selection of the dominant leadership style, to the equal participation in the leadership process, reflected in the concepts of servant leadership and shared leadership.
{"title":"Followers in the organizational leadership process: From attribution to shared leadership","authors":"Vesna Stojanović-Aleksić","doi":"10.5937/EKONHOR1602139S","DOIUrl":"https://doi.org/10.5937/EKONHOR1602139S","url":null,"abstract":"Despite the fact that most of the theories and models of leadership are solely focused on the leader as the central figure of the leadership process, there is a need to draw attention to the importance of the followers' role in the organizational leadership process, which is the main subject of this paper. Newer approaches to leadership provide a framework for the study of a reciprocal influence in the leadership process, in which the behavior of the leader appears as both an independent and a dependent variable at the same time. The aim is to draw attention to the necessity of adjusting leadership styles to the characteristics of the followers and encourage the followers' active role in leadership, as the basic precondition for the effectiveness of the entire leadership process. The paper reviews the evolution of the role of the followers in organizational leadership through various approaches and models of leadership, from the attribution of potential leadership qualities through the process of attribution, through the followers' influence in the selection of the dominant leadership style, to the equal participation in the leadership process, reflected in the concepts of servant leadership and shared leadership.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"7 1","pages":"139-151"},"PeriodicalIF":0.0,"publicationDate":"2016-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87654620","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}
{"title":"Milanović Branko: Global inequality: A new approach for the age of globalization, Cambrige, Massachusetts: Harvard University Press, 2016","authors":"Tijana Tubić","doi":"10.5937/EKONHOR1602181T","DOIUrl":"https://doi.org/10.5937/EKONHOR1602181T","url":null,"abstract":"","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"60 1","pages":"181-182"},"PeriodicalIF":0.0,"publicationDate":"2016-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85678888","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}
Shopper marketing has lately become a promising business initiative. The distinction between shopper marketing and traditional marketing paves the way for new relations, partnerships, and better results of retailers and suppliers. The paper explains the new perspective of marketing, with the shopper in focus. Retail has been identified as the center of gravity for enterprise cooperation and a new business consensus. The advantages and challenges of shopper marketing are also explained, including tracing the efficient category management model and partnership value creation. In the wake of the development of new category management guidelines, the paper points out the aspect of the institutionalization of cooperation in shopper marketing, as well as the future of multi-channel analysis and customer satisfaction.
{"title":"Shopper marketing: A new partnership perspective in marketing channels","authors":"Zoran Bogetić, Djordje Kalicanin, D. Stojković","doi":"10.5937/EKONHOR1601053B","DOIUrl":"https://doi.org/10.5937/EKONHOR1601053B","url":null,"abstract":"Shopper marketing has lately become a promising business initiative. The distinction between shopper marketing and traditional marketing paves the way for new relations, partnerships, and better results of retailers and suppliers. The paper explains the new perspective of marketing, with the shopper in focus. Retail has been identified as the center of gravity for enterprise cooperation and a new business consensus. The advantages and challenges of shopper marketing are also explained, including tracing the efficient category management model and partnership value creation. In the wake of the development of new category management guidelines, the paper points out the aspect of the institutionalization of cooperation in shopper marketing, as well as the future of multi-channel analysis and customer satisfaction.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"317 1","pages":"53-69"},"PeriodicalIF":0.0,"publicationDate":"2016-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89059135","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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