Pub Date : 2022-01-01DOI: 10.5937/bankarstvo2201100r
Nikola Radivojević, Anamaria Dukić, Sanja Dončić
Although there are many papers that examine the impact of intellectual capital on the performance of financial institutions, there are almost no papers that deal with developing markets. According to the author's knowledge, no one in Serbia has studied the effects of IC on financial institutions operating in the financial sector. This sector is extremely important for the Serbian economy since it is the leading sector in which the effects of modern information technologies are the most exploited and in which competitiveness is pursued by attracting new clients, by offering innovative solutions and services. Hence, the aim of this paper is to identify and analyze the IC's impact on financial performance in order to answer whether the impact of IC on the financial performance of financial institutions operating in developing markets has the same importance as the impact on financial institutions operating on developed markets, characterized by a high degree of innovation and IT equipment. The obtained results show that human and engaged capital have a statistically significant impact on financial performance, while structural capital does not.
{"title":"The impact of Intellectual capital on financial performance: Case study: The Serbian financial sector","authors":"Nikola Radivojević, Anamaria Dukić, Sanja Dončić","doi":"10.5937/bankarstvo2201100r","DOIUrl":"https://doi.org/10.5937/bankarstvo2201100r","url":null,"abstract":"Although there are many papers that examine the impact of intellectual capital on the performance of financial institutions, there are almost no papers that deal with developing markets. According to the author's knowledge, no one in Serbia has studied the effects of IC on financial institutions operating in the financial sector. This sector is extremely important for the Serbian economy since it is the leading sector in which the effects of modern information technologies are the most exploited and in which competitiveness is pursued by attracting new clients, by offering innovative solutions and services. Hence, the aim of this paper is to identify and analyze the IC's impact on financial performance in order to answer whether the impact of IC on the financial performance of financial institutions operating in developing markets has the same importance as the impact on financial institutions operating on developed markets, characterized by a high degree of innovation and IT equipment. The obtained results show that human and engaged capital have a statistically significant impact on financial performance, while structural capital does not.","PeriodicalId":53365,"journal":{"name":"Bankarstvo","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":"71205363","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}
Pub Date : 2022-01-01DOI: 10.5937/bankarstvo2202173g
Radmila Gaćeša
On February 1st 2016, the Republic of Serbia acquired the status of a full member of the European Union Convention on Common Transit Procedure, and joined the existing members: EU countries, EFTA countries, as well as individual members Turkey and the Republic of North Macedonia. In this way, Serbia put its particularly important geopolitical position in Europe, and its openness to support and acceptance of foreign direct investments, into the function of further dynamic improvement in the sphere of economy and overall economic development.
{"title":"European Union Convention on Common transit procedure","authors":"Radmila Gaćeša","doi":"10.5937/bankarstvo2202173g","DOIUrl":"https://doi.org/10.5937/bankarstvo2202173g","url":null,"abstract":"On February 1st 2016, the Republic of Serbia acquired the status of a full member of the European Union Convention on Common Transit Procedure, and joined the existing members: EU countries, EFTA countries, as well as individual members Turkey and the Republic of North Macedonia. In this way, Serbia put its particularly important geopolitical position in Europe, and its openness to support and acceptance of foreign direct investments, into the function of further dynamic improvement in the sphere of economy and overall economic development.","PeriodicalId":53365,"journal":{"name":"Bankarstvo","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":"71204884","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}
Pub Date : 2022-01-01DOI: 10.5937/bankarstvo2202147h
M. Sazu, S. Jahan
The data revolution happening throughout the world has brought transformation in the financial services sector. This vast information has opened doors to understanding the needs of the customers, finding insights, and lowering risks. In addition, it helps the financial services industry to take actions to improve clients' satisfaction at a faster rate than it was previously possible. Financial firms can develop new insights using BD because they can now collect a large volume of data about their customers, their spending pattern, and provide services that are beneficial, convenient, and quick for the customers. They can expand the use of those insights not only for their consumers but also for their internal process optimization, benefiting everyone in the process. While the impact of BDA on financial service companies is ubiquitous, not so many studies have been published to understand which aspects of the financial services industry could greatly benefit from the rise of technology and BDA. Few published studies address the challenges faced by banks in this technology era if they do not have BD tools implemented. This research covers data from banks from January 2019 to January 2022 to address that gap of a several banks from America and Europe that faced declining customer satisfaction. It uncovers the best methods used by financial firms globally to implement BDA to improve the services. This paper will also look at how BDA has been successfully used in the banking industry, regarding the following elements: consumer behavior, channels use, consumer spending pattern and profile creation, product cross-selling based upon user-profiling, analysis of feedback and sentiment, management of secure transactions, and fraud etc. This study helps find out and makes contributions on how the financial services industry, such as banks, could leverage BDA and provide superior services. Further research could be conducted across other players in the finance industry to learn about how they are impacted by the BDA.
{"title":"How Big Data Analytics is transforming the finance industry","authors":"M. Sazu, S. Jahan","doi":"10.5937/bankarstvo2202147h","DOIUrl":"https://doi.org/10.5937/bankarstvo2202147h","url":null,"abstract":"The data revolution happening throughout the world has brought transformation in the financial services sector. This vast information has opened doors to understanding the needs of the customers, finding insights, and lowering risks. In addition, it helps the financial services industry to take actions to improve clients' satisfaction at a faster rate than it was previously possible. Financial firms can develop new insights using BD because they can now collect a large volume of data about their customers, their spending pattern, and provide services that are beneficial, convenient, and quick for the customers. They can expand the use of those insights not only for their consumers but also for their internal process optimization, benefiting everyone in the process. While the impact of BDA on financial service companies is ubiquitous, not so many studies have been published to understand which aspects of the financial services industry could greatly benefit from the rise of technology and BDA. Few published studies address the challenges faced by banks in this technology era if they do not have BD tools implemented. This research covers data from banks from January 2019 to January 2022 to address that gap of a several banks from America and Europe that faced declining customer satisfaction. It uncovers the best methods used by financial firms globally to implement BDA to improve the services. This paper will also look at how BDA has been successfully used in the banking industry, regarding the following elements: consumer behavior, channels use, consumer spending pattern and profile creation, product cross-selling based upon user-profiling, analysis of feedback and sentiment, management of secure transactions, and fraud etc. This study helps find out and makes contributions on how the financial services industry, such as banks, could leverage BDA and provide superior services. Further research could be conducted across other players in the finance industry to learn about how they are impacted by the BDA.","PeriodicalId":53365,"journal":{"name":"Bankarstvo","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":"71205318","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}
Pub Date : 2022-01-01DOI: 10.5937/bankarstvo2201126k
L. Kontić, Jovan Kontić
The paper discusses the Balanced Scorecard model in one bank that operates on Serbian market. To obtain a more complete image of the bank efficiency in the long term, it is necessary to include non-financial indicators, such as clients' perspective, internal business processes, as well as learning and growth. The results showed that proposed model can be used in banking sector in one transition economy. Balanced Scorecard has been allowed bank's managers to assess all factors in order to implement strategic goals.
{"title":"Implementation of Balanced scorecard in domestic commercial bank","authors":"L. Kontić, Jovan Kontić","doi":"10.5937/bankarstvo2201126k","DOIUrl":"https://doi.org/10.5937/bankarstvo2201126k","url":null,"abstract":"The paper discusses the Balanced Scorecard model in one bank that operates on Serbian market. To obtain a more complete image of the bank efficiency in the long term, it is necessary to include non-financial indicators, such as clients' perspective, internal business processes, as well as learning and growth. The results showed that proposed model can be used in banking sector in one transition economy. Balanced Scorecard has been allowed bank's managers to assess all factors in order to implement strategic goals.","PeriodicalId":53365,"journal":{"name":"Bankarstvo","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":"71205371","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}
Pub Date : 2022-01-01DOI: 10.5937/bankarstvo2204094m
Vesna Marić, S. Ignjatović, Danijela Anđelković
The paper examines the determinants of bank business success by applying panel analysis to a sample of former Yugoslavia countries. The study spans the 2010-2020 period. This paper's primary goal is to find the most important factor influencing bank business success in former Yugoslavia using the proper panel analysis econometric model. The analysis's findings suggest that non-performing loans are the microeconomic component that has the biggest influence on bank business performance and that macroeconomic factors do not have a statistically significant impact on bank business success.
{"title":"Determinants of bank business success: A study of selected cases from former Yugoslav countries","authors":"Vesna Marić, S. Ignjatović, Danijela Anđelković","doi":"10.5937/bankarstvo2204094m","DOIUrl":"https://doi.org/10.5937/bankarstvo2204094m","url":null,"abstract":"The paper examines the determinants of bank business success by applying panel analysis to a sample of former Yugoslavia countries. The study spans the 2010-2020 period. This paper's primary goal is to find the most important factor influencing bank business success in former Yugoslavia using the proper panel analysis econometric model. The analysis's findings suggest that non-performing loans are the microeconomic component that has the biggest influence on bank business performance and that macroeconomic factors do not have a statistically significant impact on bank business success.","PeriodicalId":53365,"journal":{"name":"Bankarstvo","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":"71204922","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}
Pub Date : 2022-01-01DOI: 10.5937/bankarstvo2204202l
Ahmedin Lekpek, Z. Šabotić
Thanks to their role as creators and implementers of monetary policy, central banks in most modern countries have the status of key financial institutions and pivots of financial system stability. During the centuries of evolution of central banking, numerous models and instruments of monetary policy were developed, the application of which depended largely on the political environment and the dominant economic model in specific countries. Unlike conventional central banking, Islamic central banking has been in global economic practice for only a few decades. An authentic and Shariah-compliant model of Islamic central banking is still in its infancy. Therefore, the practice of Islamic central banking is largely based on the application of instruments of conventional central banking, which, according to Shariah compliance, are used in their original or modified form or are excluded from use. In this paper, we will present the development path of Islamic central banking, the goals and obligations of Islamic central banks, a set of Shariah-compliant monetary policy instruments, the practice of Islamic central banking in certain countries, and limitations for the efficient functioning of Islamic central banks in practice.
{"title":"Islamic central banking in theory and practice","authors":"Ahmedin Lekpek, Z. Šabotić","doi":"10.5937/bankarstvo2204202l","DOIUrl":"https://doi.org/10.5937/bankarstvo2204202l","url":null,"abstract":"Thanks to their role as creators and implementers of monetary policy, central banks in most modern countries have the status of key financial institutions and pivots of financial system stability. During the centuries of evolution of central banking, numerous models and instruments of monetary policy were developed, the application of which depended largely on the political environment and the dominant economic model in specific countries. Unlike conventional central banking, Islamic central banking has been in global economic practice for only a few decades. An authentic and Shariah-compliant model of Islamic central banking is still in its infancy. Therefore, the practice of Islamic central banking is largely based on the application of instruments of conventional central banking, which, according to Shariah compliance, are used in their original or modified form or are excluded from use. In this paper, we will present the development path of Islamic central banking, the goals and obligations of Islamic central banks, a set of Shariah-compliant monetary policy instruments, the practice of Islamic central banking in certain countries, and limitations for the efficient functioning of Islamic central banks in practice.","PeriodicalId":53365,"journal":{"name":"Bankarstvo","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":"71204982","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}
Pub Date : 2022-01-01DOI: 10.5937/bankarstvo2202117b
Darko Bakić
The rapid development of information technologies, which have found application in all areas of human activity, has also led to changes in the way of banking operations. Traditional banking inevitably involved going to the bank to use banking services. Nowadays, bank services are available to clients in their homes or anywhere else. This is primarily the result of the development of the Internet and mobile technologies, which has led to the development of new types of banking operations, known as internet banking and mobile banking. These two types of banking will represent the backbone of future banking activity.
{"title":"The impact of mobile technologies and the internet on the future of banking operations","authors":"Darko Bakić","doi":"10.5937/bankarstvo2202117b","DOIUrl":"https://doi.org/10.5937/bankarstvo2202117b","url":null,"abstract":"The rapid development of information technologies, which have found application in all areas of human activity, has also led to changes in the way of banking operations. Traditional banking inevitably involved going to the bank to use banking services. Nowadays, bank services are available to clients in their homes or anywhere else. This is primarily the result of the development of the Internet and mobile technologies, which has led to the development of new types of banking operations, known as internet banking and mobile banking. These two types of banking will represent the backbone of future banking activity.","PeriodicalId":53365,"journal":{"name":"Bankarstvo","volume":"97 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71205307","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}
Pub Date : 2022-01-01DOI: 10.5937/bankarstvo2204066v
Stefan Vržina
Deferred income tax is an important position in financial statements of banks. It is primarily a result of temporary differences between book and tax values of assets and liabilities. Subsidiaries of multinational banking groups that operate in Croatia, Serbia and Slovenia have to report on deferred tax in accordance with International Accounting Standard 12 - Income Taxes. This paper examined the practices related to deferred income tax in such banks. In this regard, there four banking groups were sampled (two Austrian and two Italian) that operate in three observed countries. Research results showed that net deferred tax assets/liabilities do not usually have materially significant share in total assets of banks, though there is statistically significant difference in the materiality between countries. In general, banks recognize deferred tax assets less after the Covid-19 pandemic, due to the growing uncertainty over achieving the future taxable income, though such reduction is not statistically significant. In addition, the sources of deferred income tax significantly vary between countries, though the valuation of financial assets is, in general, the most common source of deferred tax.
{"title":"Deferred income tax in multinational banks: A case of Croatia, Serbia and Slovenia","authors":"Stefan Vržina","doi":"10.5937/bankarstvo2204066v","DOIUrl":"https://doi.org/10.5937/bankarstvo2204066v","url":null,"abstract":"Deferred income tax is an important position in financial statements of banks. It is primarily a result of temporary differences between book and tax values of assets and liabilities. Subsidiaries of multinational banking groups that operate in Croatia, Serbia and Slovenia have to report on deferred tax in accordance with International Accounting Standard 12 - Income Taxes. This paper examined the practices related to deferred income tax in such banks. In this regard, there four banking groups were sampled (two Austrian and two Italian) that operate in three observed countries. Research results showed that net deferred tax assets/liabilities do not usually have materially significant share in total assets of banks, though there is statistically significant difference in the materiality between countries. In general, banks recognize deferred tax assets less after the Covid-19 pandemic, due to the growing uncertainty over achieving the future taxable income, though such reduction is not statistically significant. In addition, the sources of deferred income tax significantly vary between countries, though the valuation of financial assets is, in general, the most common source of deferred tax.","PeriodicalId":53365,"journal":{"name":"Bankarstvo","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":"71204914","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}
Pub Date : 2022-01-01DOI: 10.5937/bankarstvo2201070a
Almir Alihodžić
Banks play an important role in a country's economy because increasing savings and capital accumulation has a positive effect on economic growth and employment through the banks' resource transfer function. The purpose of this study is to establish a cause-and-effect relationship between bank profitability and economic growth in three selected countries, including Bosnia and Herzegovina, Serbia, and Croatia. In this research, a panel causality test is applied to examine the cause-and-effect relationship for the time period from the first quarter of 2008 to the fourth quarter of 2020. Empirical findings in this study showed that the profitability of banks in selected developing countries (Bosnia and Herzegovina, Serbia and Croatia) has a positive effect on economic growth. Also, this research provides insight into in-depth analysis in terms of considering several countries through the use of a panel causality test, for the purpose of studying the relationship between bank profitability and economic growth.
{"title":"Does bank profitability affect economic growth: Examples of banks in some western Balkan countries","authors":"Almir Alihodžić","doi":"10.5937/bankarstvo2201070a","DOIUrl":"https://doi.org/10.5937/bankarstvo2201070a","url":null,"abstract":"Banks play an important role in a country's economy because increasing savings and capital accumulation has a positive effect on economic growth and employment through the banks' resource transfer function. The purpose of this study is to establish a cause-and-effect relationship between bank profitability and economic growth in three selected countries, including Bosnia and Herzegovina, Serbia, and Croatia. In this research, a panel causality test is applied to examine the cause-and-effect relationship for the time period from the first quarter of 2008 to the fourth quarter of 2020. Empirical findings in this study showed that the profitability of banks in selected developing countries (Bosnia and Herzegovina, Serbia and Croatia) has a positive effect on economic growth. Also, this research provides insight into in-depth analysis in terms of considering several countries through the use of a panel causality test, for the purpose of studying the relationship between bank profitability and economic growth.","PeriodicalId":53365,"journal":{"name":"Bankarstvo","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":"71205354","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}
Pub Date : 2022-01-01DOI: 10.5937/bankarstvo2202086m
Vesna Martin
In the last few years, central banks have been exposed to new challenges and tasks that they need to face. One of those challenges is climate change, which directly affects the central bank's main goals, namely achieving and maintaining price and financial stability. In order to fulfill the goals defined by the Paris Agreement, it is necessary for central banks to take a more active part in the fight against the consequences of climate change. This means that central banks are expected to adopt policies and strategies that will guide the financial sector to successfully manage the risks of climate change and encourage them to direct investments in clean technologies and low-carbon infrastructure. This would achieve sustainable economic development in the long term, which is based on the principle of reducing the risk of climate change, while at the same time preserving the environment.
{"title":"Climate change and the role of central banks","authors":"Vesna Martin","doi":"10.5937/bankarstvo2202086m","DOIUrl":"https://doi.org/10.5937/bankarstvo2202086m","url":null,"abstract":"In the last few years, central banks have been exposed to new challenges and tasks that they need to face. One of those challenges is climate change, which directly affects the central bank's main goals, namely achieving and maintaining price and financial stability. In order to fulfill the goals defined by the Paris Agreement, it is necessary for central banks to take a more active part in the fight against the consequences of climate change. This means that central banks are expected to adopt policies and strategies that will guide the financial sector to successfully manage the risks of climate change and encourage them to direct investments in clean technologies and low-carbon infrastructure. This would achieve sustainable economic development in the long term, which is based on the principle of reducing the risk of climate change, while at the same time preserving the environment.","PeriodicalId":53365,"journal":{"name":"Bankarstvo","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":"71205300","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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