BH Ekonomski forum最新文献_第4页

Overview of the internal firm growth and corporate finance principles: Theories, expectations and application outcomes 公司内部成长和公司财务原则概述:理论、期望和应用结果

BH Ekonomski forum Pub Date : 1900-01-01 DOI: 10.5937/bhekofor2102143d

Jasmina Džafić, Nedžad Polić

{"title":"Overview of the internal firm growth and corporate finance principles: Theories, expectations and application outcomes","authors":"Jasmina Džafić, Nedžad Polić","doi":"10.5937/bhekofor2102143d","DOIUrl":"https://doi.org/10.5937/bhekofor2102143d","url":null,"abstract":"Throughout almost a century many theories of firm growth, investments, financial leverage and dividend policy have been developed aiming to capture decisive relations among the crucial firm internal potentials. The extensive literature reveals many determinants influencing firm growth. The expectations of the relations among investment activities, financial structures and dividend policy on one hand and firm growth indicators (value, sales volume, employment, return) on the other hand exhibit clear and simple relations. Though most of the theories excerpt all relations and represent state of the art in the internal growth potentials relation, we may find a bunch of counter-expectations findings in the related literature. Namely, affected by specific circumstances firms behave in different ways with suboptimal use of internal growth potentials. Among the specific circumstances that may affect the national economy, transition, post-recession and underdeveloped financial markets deserve particular research attention and focus. In this paper, we present the existing theories overview, potential challenges of the labelled circumstances and a review of the relations between selected corporate finance principles and firm growth indicators. The research reveals the findings based on the extensive firms' dataset related to Bosnia and Herzegovina. The findings of this paper might inspire further research efforts, vivid theoretical debate on the causes and consequences of the findings as well as a clear response from the related government bodies responsible for macro economic development.","PeriodicalId":187409,"journal":{"name":"BH Ekonomski forum","volume":"87 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132421721","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}

引用次数: 0

How using virtual reality can improve B2B marketing 如何利用虚拟现实改善B2B营销

BH Ekonomski forum Pub Date : 1900-01-01 DOI: 10.5937/bhekofor2202027k

Almir Klico

{"title":"How using virtual reality can improve B2B marketing","authors":"Almir Klico","doi":"10.5937/bhekofor2202027k","DOIUrl":"https://doi.org/10.5937/bhekofor2202027k","url":null,"abstract":"The possibilities of virtual reality in B2B marketing are increasingly recognized in scientific discussions as well as articles on interesting examples of early adopters such as IKEA and Airbus. However, while there is a growing recognition of its potential, the specific impact of virtual reality on B2B marketing remains part of the unexplored research area. From a business point of view, virtual reality technologies are already largely attracting investments that encourage research in the field hoping to discover the full potential of this technological innovation in optimizing business operations and processes. The great interest in virtual reality in marketing is not limited to the needs of the market but also comes from the gap in academic research and literature. Therefore, this research aims to bridge the gap between managerial and academic understanding and to improve knowledge of the influence of immersive reality technologies, namely virtual reality, on B2B sales and marketing. The basic method of work in this article is desk research. This paper draws upon reliable sources such as academic journals, published books, and case studies. Following an exploratory approach, the theoretical background provides a starting point for future empirical studies. This paper gives a realistic theoretical consideration of the topic by developing a framework and providing suggestions describing the impact of virtual reality on the perception of B2B customers, also providing B2B marketers and experts with several directions for future research and provides recommendations for B2B marketers who are interested in using the vast array of opportunities offered by virtual reality.","PeriodicalId":187409,"journal":{"name":"BH Ekonomski forum","volume":"153 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122238098","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}

引用次数: 0

The structure of consumer loans, their beneficiaries and motivations for borrowing from banks in the Republic of Srpska 斯普斯卡共和国消费者贷款的结构、受益人和向银行借款的动机

BH Ekonomski forum Pub Date : 1900-01-01 DOI: 10.5937/bhekofor2102119v

D. Vojinović, Novo Plakalović

{"title":"The structure of consumer loans, their beneficiaries and motivations for borrowing from banks in the Republic of Srpska","authors":"D. Vojinović, Novo Plakalović","doi":"10.5937/bhekofor2102119v","DOIUrl":"https://doi.org/10.5937/bhekofor2102119v","url":null,"abstract":"In the research, we started from the fact that consumer loans are the most common type of credits offered by the commercial banking sector to the public of Bosnia and Herzegovina (B&H). The initial goal of the research was to look at the current structure of loans taken by citizens from banks (loan size, loan maturity, use goal, etc.) and to look at the structure of credit users in terms of their educational, income and age status. We started from the assumption that citizens or households use bank consumer credits predominantly to finance current consumption and compensate for insufficient current income to finance basic living needs. We made such assumptions based on the fact of low general income per capita, low average wages and high unemployment rates in B&H. The research is based on a comprehensive survey that we conducted on a large number of participants, users of bank consumer loans. We concluded: relatively most of the credit beneficiaries are from the category of educated and highly educated citizens and the relatively largest number of beneficiaries are those with low-income status and young people. The loans used are mostly non-purpose cash credits. Longer loan maturities are reserved mainly for middle aged and older people with higher income status. Long-term loans were mostly used to finance the purchase and construction of apartments and houses. Average loan amounts per user are relatively low, which is to be expected given their income position. The motives, life requirements and expectations of the borrower usually move within a modest radius of providing basic living needs therefore, loans are mostly aimed at financing current consumption. For some users, there is a noticeable preference for higher consumption that goes beyond the actual borrowing potential of these households.","PeriodicalId":187409,"journal":{"name":"BH Ekonomski forum","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133525305","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}

引用次数: 0

The concept and importance of social audit for sustainable community development 社会审计的概念及其对社区可持续发展的重要性

BH Ekonomski forum Pub Date : 1900-01-01 DOI: 10.5937/bhekofor2201151v

Valentina Vinšalek-Stipić

{"title":"The concept and importance of social audit for sustainable community development","authors":"Valentina Vinšalek-Stipić","doi":"10.5937/bhekofor2201151v","DOIUrl":"https://doi.org/10.5937/bhekofor2201151v","url":null,"abstract":"Social audit and social responsibility have become the focus of sustainable community development to address risk and sustainability challenges. Social audit involves an official review of the company's procedures and codes of conduct regarding social responsibility and community impact. Social audit involves assessing how many companies achieve sustainable development goals. In practice, an increasing number of accountants and auditors are faced with the notion of social auditing. It covers the analysis of non-financial aspects and business risks, both in the private and public sectors. This paper aims to highlight the importance and contribution of social audit through risk analysis, and environmental and social aspects for sustainable community development. The content and implementation of social audit have similar objectives as the financial audit of operations, but social audit is specifically and additionally focused on the performance and operation of organizations that are not necessarily financial in nature. Some elements of the implementation of the social audit process are increasingly present in the implementation of due diligence, but the social audit as a whole is still conducted separately. Social audit has an active and important role in achieving social responsibility and sustainable development.","PeriodicalId":187409,"journal":{"name":"BH Ekonomski forum","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123667211","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}

引用次数: 0

Investigating the relationship between the single-name concentration risk and capital surplus: Evidence from the Macedonian banking sector 调查单一名称集中风险与资本盈余之间的关系:来自马其顿银行业的证据

BH Ekonomski forum Pub Date : 1900-01-01 DOI: 10.5937/bhekofor2101011d

Evica Delova-Jolevska, Milan Eliskovski

{"title":"Investigating the relationship between the single-name concentration risk and capital surplus: Evidence from the Macedonian banking sector","authors":"Evica Delova-Jolevska, Milan Eliskovski","doi":"10.5937/bhekofor2101011d","DOIUrl":"https://doi.org/10.5937/bhekofor2101011d","url":null,"abstract":"Banks lend large funds to big clients and are exposed to concentration risk. The concentration risk is indirect credit risk exposure for the banks and it might cause large losses in case of default of the big clients. Therefore, prudent banks would increase their capital surplus as the concentration exposure rises in order to preserve their stability against deteriorating performances of the big clients. Thus, this paper investigates the effect of the single-name concentration risk on the capital surplus in the Macedonian banking sector. The analysis was done by employing Vector Error Correction Model on quarterly data from 2006q1 to 2018q4. The results suggest that the Macedonian banking sector is prudent and increases the capital surplus from 0.65 percentage points (p.p.) to 2.20 p.p., as the single-name concentration risk rises by 1 p.p. More concretely, a future increase of the banking sectors' large exposures by 53.7 million of euros (1 p.p. of the total gross loans as of 2018q4), would require an increase of the capital surplus by the minimum amount of 3.1 million of euros (0.65 p.p. of the minimum capital requirement as of 2018q4), under the assumption of not changing both the total gross loans and the minimum capital requirement, compared to 2018q4.","PeriodicalId":187409,"journal":{"name":"BH Ekonomski forum","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126016967","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}

引用次数: 0

Relationship between organizational configurations and competing values culture model 组织结构与竞争价值观文化模式的关系

BH Ekonomski forum Pub Date : 1900-01-01 DOI: 10.5937/bhekofor2201063k

Dženan Kulović, Dijana Husaković, Esmir Husetović

{"title":"Relationship between organizational configurations and competing values culture model","authors":"Dženan Kulović, Dijana Husaković, Esmir Husetović","doi":"10.5937/bhekofor2201063k","DOIUrl":"https://doi.org/10.5937/bhekofor2201063k","url":null,"abstract":"Organizational configuration affects a number of management components, both hard and soft. Hard components include: organizational structure, strategy and control, and soft components are: organizational culture, organizational learning, leadership, motivation, organization power, organizational change, rewarding employees, evaluating performance and connection between individual and organization. Therefore, it can be said that organizational configuration affects organizational culture. The organizational configuration creates a framework in which a specific type of organizational culture is applied. For an organization to be successful in achieving its goals, there needs to be a high degree of agreement between the chosen model of organizational configuration and the type of organizational culture. Therefore, each model of organizational configuration corresponds with a precisely defined type of organizational culture, because only in that way organization will avoid problems in its functioning. This paper is an exploratory type, which means that it will create assumptions about the degree of agreement between specific models of organizational configurations and certain types of organizational cultures. In this paper, based on theoretical implications, assumptions are created about the degree of agreement of Mintzberg's models of organizational configurations, which are re cognized in the literature as Mintzberg's basic types of configurations and typologies of organizational cultures according to Cameron and Quinn, better known as the competing value model. Situational elements that form models of organizational configurations according to Mintzberg and the dimensions on the basis of which are performed the typology of organizational cultures according to Cameron and Quinn are taken into account.","PeriodicalId":187409,"journal":{"name":"BH Ekonomski forum","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129915567","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}

引用次数: 0

The significance of R&D activities for managing intellectual capital of enterprises 研发活动对企业智力资本管理的意义

BH Ekonomski forum Pub Date : 1900-01-01 DOI: 10.5937/bhekofor2101117k

B. Krstić, Ivana Ivanic (ex Janjic), Milica Jovanović, S. Milanović

{"title":"The significance of R&D activities for managing intellectual capital of enterprises","authors":"B. Krstić, Ivana Ivanic (ex Janjic), Milica Jovanović, S. Milanović","doi":"10.5937/bhekofor2101117k","DOIUrl":"https://doi.org/10.5937/bhekofor2101117k","url":null,"abstract":"Enterprises are developing, increasing their profits, value and competitiveness based on successful synergies of human, structural and relational intellectual capital. In addition, R&D (Research and Development) has been acknowledged as a crucial contributor to the competitive advantage in today's competitive market. By performing R&D activities, companies create, develop and use intellectual resources (the knowledge of employees and managers, the knowledge contained in technology and processes), which are valorized on the market and converted into a certain value. R&D is the primary source of knowledge stored within individuals in the enterprise. The most generally used indicators of R&D outputs are patents and innovations, and very important components of structural intellectual capital. Both of these indicators are used to evaluate a company's technological strength and capabilities. The purpose of this paper is to investigate the relationships and connections between investment in R&D, the components of the intellectual capital of enterprises and the efficiency of intangible assets as visible intellectual capital and the efficiency of the total intellectual capital. This paper aims to point out the importance of performing R&D activities for managing the intellectual capital of the enterprises. Correlation and regression analysis were used for that purpose. The results of the analysis show that R&D investments are positively correlated with visible and invisible intellectual capital, and the efficiency of intangible assets, while R&D investments have a positive influence on visible and invisible intellectual capital.","PeriodicalId":187409,"journal":{"name":"BH Ekonomski forum","volume":"64 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133647801","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}

引用次数: 0

Strategic management in the function of enterprise survival and economic development of Bosnia and Herzegovina in conditions of COVID-19 新冠疫情条件下波黑企业生存与经济发展中的战略管理功能

BH Ekonomski forum Pub Date : 1900-01-01 DOI: 10.5937/bhekofor2102025m

D. Milovanović

{"title":"Strategic management in the function of enterprise survival and economic development of Bosnia and Herzegovina in conditions of COVID-19","authors":"D. Milovanović","doi":"10.5937/bhekofor2102025m","DOIUrl":"https://doi.org/10.5937/bhekofor2102025m","url":null,"abstract":"The focus of the paper is on the analysis of the importance and impact of strategic management and strategic decision-making on the survival, recovery and exit from the crisis of companies in Bosnia and Herzegovina, formed under the influence of coronavirus COVID 19. Many companies in Bosnia and Herzegovina were unprepared, not having a strategy at all. The aim of this paper is to point out the importance of strategic management and general strategic thinking in order to survive the companies of Bosnia and Herzegovina in crisis. The methodological concept of the research includes the method of estimating the proportion of the basic set on the basis of large samples, the method of comparative analysis, the method of deduction and the method of statistical analysis. The results of the research show that companies that have a strategy and manage strategically endured the crisis more easily. The results show a direct connection between strategic management - overcoming the crisis and recovery or growth and development of enterprises, which affects the economic development of Bosnia and Herzegovina. Such companies found a way out of the crisis more easily. Strategic management has not even led to the crisis some of them.","PeriodicalId":187409,"journal":{"name":"BH Ekonomski forum","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117268291","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}

引用次数: 0

Evaluating the bank profitability in euroized economies 欧元化经济体中银行盈利能力的评估

BH Ekonomski forum Pub Date : 1900-01-01 DOI: 10.5937/bhekofor2202041j

Kiril Jovanovski, Milanovikj Chkalovska

{"title":"Evaluating the bank profitability in euroized economies","authors":"Kiril Jovanovski, Milanovikj Chkalovska","doi":"10.5937/bhekofor2202041j","DOIUrl":"https://doi.org/10.5937/bhekofor2202041j","url":null,"abstract":"Financial euroization is a significant phenomenon in developing countries. The key financial institutions for macroeconomic stability in these countries are the banks. Conversion of most of the financial assets and liabilities into foreign currency creates a currency mismatch between the assets and liabilities in domestic and foreign currency. Banks in the role of intermediaries between depositors and borrowers face the risks of accepting foreign currency deposits and placing foreign currency loans. With this, financial euroization can impact the performance of banks. The paper's main objective is to analyze the impacts of euroization on the performance of banks in North Macedonia, Serbia, and Bosnia and Herzegovina for the period from 2010 to 2020. For performance measure, we use bank profitability. The paper uses a pre-set empirical model, in which the dependent variable is ROA (annual data for the return on assets - as a variable for measuring the profitability of banks) and a set of independent variables, including the degree of euroization. The results suggest that the model is robust, and the variables are statistically significant. In conclusion, this outcome can be ascribed to the segmentation of the bank credit portfolio in credit denominated in domestic versus foreign currency credit denomination. Moreover, the degree of euroization proved to be statistically significant for predicting the performance of banks, hence is high bank management decision-making information.","PeriodicalId":187409,"journal":{"name":"BH Ekonomski forum","volume":"186 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122095681","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}

引用次数: 0

Adjustments of board composition during Covid-19 crisis: Analysis of the Macedonian companies Covid-19危机期间董事会组成调整:马其顿公司分析

BH Ekonomski forum Pub Date : 1900-01-01 DOI: 10.5937/bhekofor2101031e

Ljupcho Eftimov, Tihona Bozhinovska

{"title":"Adjustments of board composition during Covid-19 crisis: Analysis of the Macedonian companies","authors":"Ljupcho Eftimov, Tihona Bozhinovska","doi":"10.5937/bhekofor2101031e","DOIUrl":"https://doi.org/10.5937/bhekofor2101031e","url":null,"abstract":"The aim of this paper is to make an analysis of the reported changes in the boards' composition of the Macedonian stock exchange -listed companies during the Covid-19 crisis. In order to achieve this objective, secondary data of the companies reports published on the Macedonian stock exchange website were used. The sample consists of 80 companies, and firstly we performed qualitative analysis on the companies' reports regarding boards' composition changes (over 30 companies reported changes). Afterwards, in order to increase the understanding of the factors that determine boards' composition in Macedonian joint-stock companies, we designed a model to examine the relation of company characteristics, industry characteristics and market perception of company value with board size, board independence and board diversity. The results from our analyses show that during the Covid-19 period a substantial number of companies from the sample have made changes in board composition and only 9.38% of the companies that reported change (over 30) decided to reappoint the same members. However, this does not mean that the Covid-19 crisis has been the only factor influencing the changes. Furthermore, one of our conclusions from the presented results in the study is that most of the variations in board/boards size can be explained by the differences in firm characteristics (in particular operating revenues and chosen boards structure), while the variations in board independence can be explained by firm characteristics (in particular operating revenues and chosen board structure) and industry characteristics.","PeriodicalId":187409,"journal":{"name":"BH Ekonomski forum","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127942060","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}

引用次数: 0