{"title":"Belgrade Stock Exchange indices in the conditions of the COVID-19 pandemic","authors":"Marija Đekić, Tamara Vesić, G. Šormaz","doi":"10.5937/etp2202035d","DOIUrl":"https://doi.org/10.5937/etp2202035d","url":null,"abstract":"The paper aims to present the movement of the Belgrade Stock Exchange index from the beginning of the epidemic in the Republic of Serbia until the middle of 2021, as well as a review of the movement of the most important indices in the world. The global crisis, caused by the spread of the virus, but also by rigorous measures introduced by the entities authorized by the Government, resulted in a decline in general economic activity, economic slowdown in the capital market and, consequently, a decline in stock indices in the world and in our country. The results of the research indicate that, in general, the indices show drastic declines as early as the beginning of 2020, and although they ended the year with a positive trend, most of them have not yet recovered. The indices of the Belgrade Stock Exchange, already weak, despite a certain degree of recovery during the second half of 2020, had a negative trend compared to the year before. It is completely unknown how long the pandemic and the crisis will last, so it is difficult to predict the further course of events, but it is certain that the consequences will be felt for a longer period of time in economic flows, primarily through increased inflation and further deterioration of public finances.","PeriodicalId":32530,"journal":{"name":"Ekonomija teorija i praksa","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":"71219174","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}
Slađana Vujičić, Maja Staletović, Mirjana Stevanović, M. Gavrilović
{"title":"Organizational structures of companies in modern business environment","authors":"Slađana Vujičić, Maja Staletović, Mirjana Stevanović, M. Gavrilović","doi":"10.5937/etp2204025v","DOIUrl":"https://doi.org/10.5937/etp2204025v","url":null,"abstract":"Modern trends operating from the environment require a different shaping of the organizational structure of the company. Accordingly, instead of traditional forms, more flexible organizational structures appear that are based on the characteristics of organic design. The emphasis is primarily on accepting change, decentralization of decision-making, a wider range of control, teamwork, adequate organizational culture, good interpersonal relationships, continuous learning and innovation development. Technological progress, scientific achievements, and thus the even greater need for continuous learning and acquiring new knowledge, as important characteristics of the modern business environment, have had the greatest impact on shaping the organizational structure of the company. The fact that information technology and knowledge are the basis of new organizational forms speaks in favor of that. Globalization has also played a role in creating the conditions for changing the organizational structure of companies, as well as the time of the COVID 19 pandemic. Organisations have been forced to do business differently and business processes have had to change rapidly in order for organisations to survive. The aim of this work is to indicate the fundamental trends that operate from the business environment and condition the need for the application of more flexible organizational forms. In addition, the aim of the paper is to point out the characteristics of organizational models that have emerged under the influence of these trends.","PeriodicalId":32530,"journal":{"name":"Ekonomija teorija i praksa","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":"71218901","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":"Inflation convergence in new EMU members","authors":"Svetlana Popović","doi":"10.5937/etp2204056p","DOIUrl":"https://doi.org/10.5937/etp2204056p","url":null,"abstract":"The European Central Bank is responsible for managing the common monetary policy for 19 countries that are geographically and economically very heterogeneous. The question is whether the common monetary policy suits all of them. We focused on countries that joined the Monetary union since 2007 (new members), to understand if they managed to \"fit in\". Those countries made impressive progress in macroeconomic and price stability, but is it enough to simply enjoy net benefits from EMU membership? After analyzing statistical characteristics of their inflation processes since 1997 (mean and median inflation, standard deviation and coefficient of variations), we wanted to understand if their inflation rates have converged towards EMU average inflation rate and if they tend to form a more homogeneous group of countries. We conducted a unit root test to statistically check the significance of the convergence process, and analyzed autocorrelation coefficients of inflation rates to assess the influence of the common monetary policy on the persistence of inflation. The results did not statistically confirm the existence of absolute convergence of inflation rates in New EMU members.","PeriodicalId":32530,"journal":{"name":"Ekonomija teorija i praksa","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":"71218921","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":"Analogy of scientific and professional research and its use","authors":"Tihomir Radovanović, D. Pajić, Marko Filipovic","doi":"10.5937/etp2101025r","DOIUrl":"https://doi.org/10.5937/etp2101025r","url":null,"abstract":"In today's turbulent world faced with growing number of threats and challenges on an ever larger scale, it is becoming evident that a way out should be sought in the development and application of science and profession, because only their results can stabilise the world. However, in the current processes of scientific and professional research, various barriers are encountered, primarily related to insufficient methodological elaboration of connections and relations between scientific and professional research, the end results of which reduce the quality and efficiency of these two most important agents of development. For these reasons, the study of the relationship between the processes of scientific and professional research, in which a mutual analogy has already been noticed but not further developed, has been chosen as the subject of the present scientific paper. To be more specific, in a small number of scientific papers published recently, the mentioned analogy has been observed without its deeper study and exactly there important possibilities for raising efficiency of both science and profession are hidden. Therefore, the subject of this paper is the study that led to a more complete identification of the mentioned analogy, with the implicit projection of its application in scientific and professional research.","PeriodicalId":32530,"journal":{"name":"Ekonomija teorija i praksa","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71218654","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":"Perspectives of the financial stability protection and banking risk prevention","authors":"M. Čavlin, J. Vapa-Tankosić, Srđan Egić","doi":"10.5937/etp2103109q","DOIUrl":"https://doi.org/10.5937/etp2103109q","url":null,"abstract":"The deposit insurance system is the backbone of the protective mechanism of the financial security network, which enables the prevention of a \"stampede\" of depositors on banks in order to prevent a negative effect on the stability of the financial system. Therefore, especially in the event of a crisis, such as the pandemic caused by COVID-19, the protection of financial stability and depositors emphasizes the importance and role of efficient organization of the deposit insurance system. The paper starts from the analysis of the concept of a financial security network in order to create a relevant basis for modeling the directions of development of the system of financial stability protection and risk prevention of banking operations. The aim of the paper is to conduct a research into the theoretical and empirical findings in order to identify the potential for a more effective deposit insurance system in the Republic of Serbia. An efficient deposit insurance system in the Republic of Serbia should provide support and protection for depositors, most of whom do not possess the necessary knowledge which can help them assess banking risks, i.e. risks of financial failure and crisis. The development of our deposit insurance system should be aimed at strengthening the stability of the financial system and banking operations, i.e. its resilience to crisis disturbances on the market.","PeriodicalId":32530,"journal":{"name":"Ekonomija teorija i praksa","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71219000","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":"Profitability and optimal debt level of large firms in Serbia","authors":"Ivana Milošev","doi":"10.5937/etp2104001m","DOIUrl":"https://doi.org/10.5937/etp2104001m","url":null,"abstract":"The aim of this research is to analyse the impact of debt management on the profitability of firms. The research was conducted for a five-year period from 2016 to 2020, on a sample of 299 large non-financial firms in Serbia. The Generalized Method of Moments (GMM) is used to examine the ratio of the share of total debt in total assets to the profitability expressed through the ROA indicator. The first thing considered is the linear relationship between indebtness and profitability followed by the nonlinear relationship between indebtness and profitability. The results of research show that there is a statistically significant correlation and a linear, negative ratio of indebtedness indicators in relation to the profitability of the observed firms. The results of the study do not show a nonlinear (concave) relationship. They show both negative and statistically significant impact of tangibility on the profitability of large companies in Serbia, while company size and inflation do not have a significant impact on profitability.","PeriodicalId":32530,"journal":{"name":"Ekonomija teorija i praksa","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71219014","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nemanja Lekić, Dejan Vukosavljević, J. Vapa-Tankosić, Snežana Lekić, S. Mandić
{"title":"Impact of motivational factors on organizational commitment of bank employees","authors":"Nemanja Lekić, Dejan Vukosavljević, J. Vapa-Tankosić, Snežana Lekić, S. Mandić","doi":"10.5937/etp2101001l","DOIUrl":"https://doi.org/10.5937/etp2101001l","url":null,"abstract":"Human resources are the most important potential of any organization, and therefore organizations must find, attract and retain employees with appropriate knowledge and skills. This includes an adequate way of motivating and rewarding employees, which has a positive effect on their satisfaction, loyalty and commitment to the organization. The subject of the research are the parameters of employee motivation and organizational commitment in commercial banks. The research was conducted in 2019 on the territory of the Republic of Serbia on a sample of 667 respondents. Statistical data processing were be performed using the SPSS program. The aim of the paper is to analyze the interdependence of demographic factors and motivational factors of employees: amount of salary, cooperation and good relations with superiors, greater autonomy in the execution of work tasks and the decision-making process, better information on issues related to the future of the company, opportunities for advancement and additional education and job content. Also, with binary regression we determine the influence of motivational factors on organizational commitment. This research paper will show the ways in which different motivational factors affect the organizational commitment of bank employees, which can be a parameter for bank management in formulating a business strategy that will ensure their efficiency and business success.","PeriodicalId":32530,"journal":{"name":"Ekonomija teorija i praksa","volume":"8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71218648","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":"Implications of the COVID-19 pandemic on tax revenues level in the Republic of Serbia","authors":"Branimir Kalaš","doi":"10.5937/etp2101068k","DOIUrl":"https://doi.org/10.5937/etp2101068k","url":null,"abstract":"The issue of achieved tax revenues in important for every country, especially today in the conditions of the current COVID-19 pandemic. The negative effects of coronavirus are reflected in increased health and economic risk which is manifested in the deterioration of the macroeconomic framework in the world. The aim of this paper is to point out the importance of tax revenues that they have in the tax structure, especially in crisis situations. The subject of the paper includes the analysis of monthly trend of tax revenues in the Republic of Serbia for the period January-October 2020. The results of the analysis indicate that average tax revenues were 2.21% during the observed period. Although a deficit of 34.484 million dinars was recorded in the first ten months, it is positive that public revenues average increased by 2.47% which is slightly higher than the average growth of public expenditures of 1.68%. Since value added tax and excises are the most important tax forms in the structure of the Republic of Serbia, policymakers should focus on stimulating consumption in order to produce positive implications for generating revenues.","PeriodicalId":32530,"journal":{"name":"Ekonomija teorija i praksa","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71218709","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}
Tijana Savić-Tot, Marija Runić-Ristić, Slobodan Adžić
{"title":"The analysis of the employee selection process in organizations in Central Serbia","authors":"Tijana Savić-Tot, Marija Runić-Ristić, Slobodan Adžić","doi":"10.5937/etp2102057s","DOIUrl":"https://doi.org/10.5937/etp2102057s","url":null,"abstract":"The employee selection process represents one of the most delicate human resource management functions. Since the main purpose of the selection process is to attract and hire candidates who are going to fulfill the needs of an organization, the paper aims to analyze the characteristics of the selection process in organizations in Central Serbia. The problem of the research is to identify differences in the selection process among organizations that have different activities, legal forms, and the number of employees. The basic hypothesis that states that there are statistically significant differences in the selection process in studied organizations. The research results show, among other things, the deficiencies in the employee selection process, as well as the differences in the employee selection process in organizations that conduct different business activities, have different legal forms and the number of employees. Finally, the results of the study represent the basis for both its improvement and for further research within different industries.","PeriodicalId":32530,"journal":{"name":"Ekonomija teorija i praksa","volume":"72 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71219206","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":"The crisis answer system of the flood economic damage decrease","authors":"Slavisa Acimovic","doi":"10.5937/etp2101042a","DOIUrl":"https://doi.org/10.5937/etp2101042a","url":null,"abstract":"In this paper the role and importance basic problems of the crisis answer system of the flood economic damage decrease are considered. The phases of that system and estimate procedure of flood risk are defined, by using scientific methods analysis, synthesis and description. The basic aspects of the economic damage posible decrease are analysed, by using the case study example. The main importace of the flood prevention is emphasized, as a proposal for the crisis management practice. The investment importance of the flood prevention, as the economic justifiable, is emphasized, instead of answer crisis and economic demage restoration investment. The main specifications of the new approaches in the filed of of the floods defence are showed.","PeriodicalId":32530,"journal":{"name":"Ekonomija teorija i praksa","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71218661","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}