Management:Journal of Sustainable Business and Management Solutions in Emerging Economies最新文献

筛选
英文 中文
Book review of: Michel Baudin and Torbjørn Netland (2023) “Introduction to Manufacturing: An Industrial Engineering and Management Perspective” 书评:Michel Baudin和Torbjørn Netland(2023)《制造业导论:工业工程与管理视角》
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies Pub Date : 2023-03-30 DOI: 10.7595/management.fon.2023.0004
M. Thürer
{"title":"Book review of: Michel Baudin and Torbjørn Netland (2023) “Introduction to Manufacturing: An Industrial Engineering and Management Perspective”","authors":"M. Thürer","doi":"10.7595/management.fon.2023.0004","DOIUrl":"https://doi.org/10.7595/management.fon.2023.0004","url":null,"abstract":"Book review: “Introduction to Manufacturing: An Industrial Engineering and Management Perspective” \u0000 by Michel Baudin and Torbjorn Netland (2023) Routledge. ISBN 9780815363194","PeriodicalId":429254,"journal":{"name":"Management:Journal of Sustainable Business and Management Solutions in Emerging Economies","volume":"104 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122911855","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
Robust Portfolio Optimization Strategies in The Serbian Stock Market 塞尔维亚股票市场稳健投资组合优化策略
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies Pub Date : 2023-03-30 DOI: 10.7595/management.fon.2023.0001
Branimir Moćić
{"title":"Robust Portfolio Optimization Strategies in The Serbian Stock Market","authors":"Branimir Moćić","doi":"10.7595/management.fon.2023.0001","DOIUrl":"https://doi.org/10.7595/management.fon.2023.0001","url":null,"abstract":"Research Question: This paper investigates the performances of six portfolios constructed using robust optimization methods in the Serbian stock market. Motivation: Motivated by the lack of research that analyses the allocation strategies based on robust optimization in the other non-US markets, this paper analyses the ability of these strategies to produce positive performance in the Serbian financial market. Idea: This paper aims to check whether robust strategies can provide positive risk-adjusted performance compared to simple strategies. Data: The analysis was performed on daily data from 2017 to 2020. Tools: We used monthly portfolio rebalancing with an estimation period of 24 months, applying budget and no-short selling constraints in portfolio construction. As a benchmark, we used two simple strategies, the strategy of market index replication and the equal weighting strategy (1/N). Consequently, the performance of the portfolios is evaluated once a month and calculated for the entire investment period. Findings: Empirical results suggest that robust optimization methods improve portfolio performance on a risk-adjusted basis. The increase in performance is affected by an increase in turnover, so the stability of weights in the portfolio depends on the compliance of the model characteristics with the conditions prevailing in the market. Contribution: To the best of our knowledge, this is the first article that analyses the performance of robust optimization portfolios for the Serbian stock markets. Analysing the performance of robust optimization strategies and comparing them to two simple strategies, this paper contributes to the existing literature by checking their possibility of obtaining a positive performance in less developed markets. Additionally, all information presented in this paper could help investors optimize their risk allocation and profitability.","PeriodicalId":429254,"journal":{"name":"Management:Journal of Sustainable Business and Management Solutions in Emerging Economies","volume":"177 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122922193","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 gender-job satisfaction paradox: the evidence of Serbia 性别工作满意度悖论:塞尔维亚的证据
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies Pub Date : 2023-03-30 DOI: 10.7595/management.fon.2023.0003
Miloš Dašić, Nenad S. Mihajlov, S. Mihajlov
{"title":"The gender-job satisfaction paradox: the evidence of Serbia","authors":"Miloš Dašić, Nenad S. Mihajlov, S. Mihajlov","doi":"10.7595/management.fon.2023.0003","DOIUrl":"https://doi.org/10.7595/management.fon.2023.0003","url":null,"abstract":"Research Question: This study investigates gender differences in job satisfaction among employees in Serbia. Motivation: The main goal of the research is examine and providing evidence the existence and scope of the paradox of gender job satisfaction. In his paper, Clark (1997)proves that women have greater job satisfaction than men. The author suggests that, in general, the higher satisfaction of women at work may be a consequence of lower job expectations as a result of the worse position in the labor market that women have had in the past. Idea:The starting point of this research is the assumption that employed women are on average more satisfied than men, despite the inferior position they occupy in the labor market. Data:The research was conducted among 468 employees in six privately owned IT and publishing companies and one state-owned company (The Pension and Disability Insurance Fund of the Republic of Serbia).The structured questionnaire was used and distributed during January 2021. Tools: The questionnaire has two parts. The first part pertains to the respondents’ demographic information such as gender, age, level of education, the sectoral structure of the company in which they are employed, management positions and years of work experience. The second part of the questionnaire referred to questions related to job satisfaction, ie it contained 8 questions in accordance with the Job Satisfaction Questionnaire(Clark, 1997), which measured the degree of satisfaction with aspects of job including general satisfaction with current job. Findings: The results research show the women are more dissatisfied with their job compared to men, despite the fact that the distinction in job satisfaction between women and men is statistically insignificant. Finding that women on the average more dissatisfaction with their jobs than man appears to be contradictory to the most of studies report that women more satisfaction with their jobs than men. Accordingly, the idea of the gender-job satisfaction paradox in conditions of high levels of gender inequality that characterizes the labor market in Serbia cannot be confirmed and accepted as a universal phenomenon.Contribution: The paper adds existing knowledge about the job-gender paradox. Evidence that there are no differences in job satisfaction between female and male employees suggests that gender discrepancies is becoming less significant.","PeriodicalId":429254,"journal":{"name":"Management:Journal of Sustainable Business and Management Solutions in Emerging Economies","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131411208","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
Women in Corporate Governance in Banking: A Bibliometric Analysis 银行业公司治理中的女性:文献计量分析
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies Pub Date : 2023-03-19 DOI: 10.7595/management.fon.2023.0005
Evica Delova Jolevska, Violeta Cvetkoska
{"title":"Women in Corporate Governance in Banking: A Bibliometric Analysis","authors":"Evica Delova Jolevska, Violeta Cvetkoska","doi":"10.7595/management.fon.2023.0005","DOIUrl":"https://doi.org/10.7595/management.fon.2023.0005","url":null,"abstract":"Abstract: \u0000The vital players on the financial market in developing countries, banks, need strong corporate governance to ensure better performance and stability. This is the first study that investigates the impact of women in corporate governance in the banking industry and identifies research hotspots. The focus is on journal-published papers indexed in the Web of Science (WoS) database. Descriptive analytics is used to show how papers are distributed in the observed period as well as by publisher, category in the WoS, and the most cited authors and papers. Content analysis is used to examine how women impact corporate governance in the banking industry. By mining the abstracts, research hotspots are identified for the entire examined period and for the last five years. In the last five years, 70.4% of papers have been published, indicating that researchers' interest in this area is growing. Emerald Publishing Group LTD is the top publisher, while the most cited authors are Berger, A.N., Kick, T., and Schaeck, K. The keywords \"approach, responsibility, difference, institution, commitment, financial performance, and risk\" were the most frequently used in the whole analyzed period, while in the last five years, the most commonly used keyword is \"value\". The positive impact of women in corporate governance prevails, especially on CRS disclosure data, bank performance, stability, and value. Our findings may serve as a starting point for further research for academics, researchers, and banking professionals, as well as for shareholders and regulatory bodies when composing the bank boards.","PeriodicalId":429254,"journal":{"name":"Management:Journal of Sustainable Business and Management Solutions in Emerging Economies","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131237339","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
Investor Reactions to Twin Transformers Announcements 投资者对双变形金刚公告的反应
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies Pub Date : 2023-03-18 DOI: 10.7595/management.fon.2023.0002
M. Latinović
{"title":"Investor Reactions to Twin Transformers Announcements","authors":"M. Latinović","doi":"10.7595/management.fon.2023.0002","DOIUrl":"https://doi.org/10.7595/management.fon.2023.0002","url":null,"abstract":"Research Question: This study aims to empirically test the effects of the digital and sustainability announcements of twin transformation companies on their shareholder value creation. Motivation: This paper builds on the vast research regarding the Efficient Market Hypothesis, such as the work of Fama (1970, 1998) which discussed efficiency of the capital markets. Stock markets reflect new information and future prices cannot be predicted based on historical prices. Investors’ reaction, e.g., overreaction or underreaction are well documented. Furthermore, Del Rio Castro et al. (2021) present contemporary research findings related to the emerging issue of reaching Sustainability Development Goals and connects it with digitalization. Ukko et al. (2019) find that a company will reach superior financial performance if managers simultaneously devote their efforts to sustainability and digitalization. This research builds on the previous literature and tries to determine whether stock market recognizes such efforts and whether there is efficiency. Idea: The idea behind this research is to empirically determine whether investors react to twin transformation. Short- and long-term investors’ reaction was tested against sustainability and digitalization announcements of the companies that are recognized by professionals to follow the path of simultaneous transformation. Data: The sample includes companies from the Accenture research of the European twin transformation companies. Data implemented in this study were collected from several sources. Share prices were collected from the Yahoo Finance website, and event announcements from corporate websites. Tools: The methodology employed in this research is the event study methodology. Cumulative abnormal returns are calculated for different event windows and t-statistic is calculated to determine whether there is statistically significant investors’ reaction to sustainability and digitalization events. Findings: Sustainability announcements yield significant market reaction. Depending on the news content they can be both positive and negative. Moreover, dates when the sustainability ranking of some company was released are among the most significant sustainability events. In most instances, investors do not react to the information instantaneously, they need time to absorb it.  Investors do not find digitalization events to be significant. Contribution: To the best of the author’s knowledge, this is the first study to test investors’ reaction to digitally sustainable announcements of twin transformation companies. ","PeriodicalId":429254,"journal":{"name":"Management:Journal of Sustainable Business and Management Solutions in Emerging Economies","volume":"90 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126540569","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
Effects of the Compensation System and Socio-demographic Factors on the Attitudes of Employees in the Republic of Serbia 塞尔维亚共和国薪酬制度和社会人口因素对雇员态度的影响
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies Pub Date : 2023-02-01 DOI: 10.7595/management.fon.2022.0016
Dimitrije Gašić , Nemanja Berber, Agneš Slavić
{"title":"Effects of the Compensation System and Socio-demographic Factors on the Attitudes of Employees in the Republic of Serbia","authors":"Dimitrije Gašić , Nemanja Berber, Agneš Slavić","doi":"10.7595/management.fon.2022.0016","DOIUrl":"https://doi.org/10.7595/management.fon.2022.0016","url":null,"abstract":"Research Question: What are the effects of employees’ reward system and socio-demographic factors on the attitudes of employees (job satisfaction, engagement and organizational commitment of employees) in the Republic of Serbia? Motivation: Due to the increasing globalization and the emergence of crises that directly impact the compensation system in the Republic of Serbia, the authors conducted research on this topic to determine the current situation, and to investigate the effects on employees’ attitudes. Idea: The idea for the research was created due to a relatively small number of research dealing with this topic in Serbia, but also in the world literature. Data: The research was conducted in the period from March to July 2022 on a sample of 764 employees from various companies in the Republic of Serbia. Data collection is performed via an electronic questionnaire Google Forms, where respondents had the opportunity to answer the questions posed in the questionnaire at any time through their electronic devices. Tools: Data analysis was performed using reliability statistics (observation value of Cronbach's Alpha Based on Standardized Items) and multiple regression analysis between predictors: (constant), compensation system and socio-demographic indicators (education, age, and gender) according to three dependent variables related to employee attitudes (job satisfaction, engagement, and organizational commitment). Data processing was conducted using IBM SPSS Statistics 26. Findings: The results indicate that there is a positive statistically significant relationship between age, level of education, and compensation system with job satisfaction. In the case of employee engagement, only the compensation system indicated a positive and statistically significant relationship, while socio-demographic factors do not have a statistically predictive effect. In the case of organizational commitment as a dependent variable, level of education, and compensation system are statistically significantly related to organizational commitment. Contribution: This scientific research expands the existing research on the effects of the compensation system and socio-demographic factors on employees’ attitudes in the Republic of Serbia.","PeriodicalId":429254,"journal":{"name":"Management:Journal of Sustainable Business and Management Solutions in Emerging Economies","volume":"500 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123022677","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: 1
Business-Oriented Social Network as a Platform for Personal Promotion 面向企业的社交网络作为个人推广的平台
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies Pub Date : 2023-02-01 DOI: 10.7595/management.fon.2022.0014
Isidora Milošević, Sanela Arsić, Ana Rakić, J. Ruso
{"title":"Business-Oriented Social Network as a Platform for Personal Promotion","authors":"Isidora Milošević, Sanela Arsić, Ana Rakić, J. Ruso","doi":"10.7595/management.fon.2022.0014","DOIUrl":"https://doi.org/10.7595/management.fon.2022.0014","url":null,"abstract":"Research Question: This paper aims to investigate the influence of relevant factors on the personal promotion of business-oriented social network users. Motivation: Although personal promotion in online communities has been covered in academic literature (Sczesny & Kaufmann, 2018; Yu & Kim, 2020; Hollenbaugh, 2020), a significant gap in previous studies is found in neglecting influential factors on self-promotion through a business-oriented social network, such as LinkedIn. Therefore, this paper aims to explore LinkedIn users’ opinions about the impact of selected constructs on this business-oriented social network setting. The developed model points to the personal promotion predictors that contribute to the broader business community and career development by enabling the building and strengthening of a personal brand by demonstrating individuals' knowledge and expertise in a particular field. Idea: The core idea is to research social network users' opinions about the impacts of the independent variable Need to Use and dependent variables, Professionalism, Usefulness in Work, and Intention to use on their Personal Promotion. Data: Data analysis was conducted based on replies obtained from 1044 questionnaires distributed in Serbia from November 2019 to July 2020. Tools: Structural equation modelling (SEM) was employed and included evaluating the measurement model and testing the structural model. Findings: The survey shows that the need to use social networks influences an individual’s usefulness and professionalism. Results also indicate that professionalism influences the intention of exploiting social network. Finally, the intention to use social networks affects an individual’s personal promotion. Contribution: The research contributes to the literature about individuals' professional and personal promotion and facilitates job-seekers to find a desirable workplace as well as employers to find appropriate candidates.","PeriodicalId":429254,"journal":{"name":"Management:Journal of Sustainable Business and Management Solutions in Emerging Economies","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129498036","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
Corporate Financial Policy as a Factor of Corporate Sustainability and Health during COVID-19 Pandemic Period COVID-19大流行时期企业财务政策对企业可持续发展和健康的影响
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies Pub Date : 2022-12-25 DOI: 10.7595/management.fon.2022.0013
Z. Šabotić, Ahmedin Lekpek
{"title":"Corporate Financial Policy as a Factor of Corporate Sustainability and Health during COVID-19 Pandemic Period","authors":"Z. Šabotić, Ahmedin Lekpek","doi":"10.7595/management.fon.2022.0013","DOIUrl":"https://doi.org/10.7595/management.fon.2022.0013","url":null,"abstract":"Research Question: This paper analyses whether a relationship exists between the financial policy of the companies, embodied in the structure of assets and liabilities, and their financial health during the COVID-19 pandemic. Motivation: The paper aims to consider the impact of changes in the value of individual items of the balance sheet of selected companies on the movement of profitability, liquidity, and market value of companies, as measures of the companies’ financial health. Idea: The core idea of this paper was to empirically evaluate the financial health of domestic companies, where the financial policy that the selected companies implemented was taken as a factor of financial health. The financial policy was viewed through the structure of assets and financing of the chosen companies, while financial resilience observation was based on indicators of profitability, liquidity, and market value of the companies. Data: Secondary data from the reference database (Index of the Belgrade Stock Exchange) during the period 2016-2020, which includes 30 companies from the real sector, serve as the relevant basis for the realization of the research within the adequately set area of the research. Tools will be used to study the relationship, i.e., connectivity of selected research variables based on regression analysis in the frame of parametric quantitative procedures. The financial policy was viewed through the structure of assets and financing of the chosen companies, based on their balance sheets, while financial resilience observation was based on indicators of profitability, liquidity, and market value of the companies, which were used as dependent variables in the research. Findings: The point that changes in a relatively small number of the balance sheet items of selected companies influenced the movement of the mentioned financial health indicators during the COVID-19 pandemic. Contribution: Presented research results are significant and representative for future corporate practice. The key contribution of this research is the identification of assets’ elements with a critical impact on companies’ financial health.","PeriodicalId":429254,"journal":{"name":"Management:Journal of Sustainable Business and Management Solutions in Emerging Economies","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125341687","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
Servant Leadership: Influence of Job Satisfaction and Organizational Commitment 服务型领导:工作满意度与组织承诺的影响
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies Pub Date : 2022-12-24 DOI: 10.7595/management.fon.2022.0009
Nikolina Vrcelj, Vuk Bevanda, Nevena Bevanda
{"title":"Servant Leadership: Influence of Job Satisfaction and Organizational Commitment","authors":"Nikolina Vrcelj, Vuk Bevanda, Nevena Bevanda","doi":"10.7595/management.fon.2022.0009","DOIUrl":"https://doi.org/10.7595/management.fon.2022.0009","url":null,"abstract":"Research Question: The research objective of this study was to use empirical research to investigate the impact of servant leadership on job satisfaction and organizational commitment. Motivation: Despite the growing scholarly interest in servant leadership (Adiguzel, Ozcinar, & Karadal, 2020; Karatepe, Ozturk, & Terry Kim, 2019; Kozak, 2020), the area still lacks coherence and clarity. Although most improvements have been published in top-tier management journals, servant leadership research has also been published in other fields such as nursing, tourism, and education (Eva, Robin, Sendjaya, van Dierendonck, & Liden, 2019). These studies, however, are mainly focused on developed market economies whereas research in transition economies is limited. It is for this reason that we wanted to examine servant leadership and its relationship with job satisfaction and organizational commitment in the Republic of Serbia. Idea: Our main goal was to put the theory to the empirical test through known and validated questionnaires about whether servant leadership has a positive statistically significant impact on organizational commitment and whether servant leadership has a positive statistically significant effect on job satisfaction. Data: The quantitative data for the analysis were collected from February 5, 2020, until February 15, 2020, based on the results of a survey of 102 online participants. The basic sampling criterion was that the respondents were employed. Tools: Primary data were collected through a questionnaire. Servant leadership was measured by questionnaires compiled by Fields & Winston (2010) and Van Dierendonck & Nuijten (2011), job satisfaction was measured by an adjusted questionnaire developed by Spector (1994), and organizational commitment by a questionnaire developed by Mowday, Steers & Porter (1979). Descriptive statistics, correlation, and simple regression analysis were used in the data analysis. Findings: The results show the statistically significant positive impact of servant leadership on job satisfaction and organizational commitment. Moreover, servant leadership has a stronger impact on job satisfaction than on organizational commitment. The obtained research results are in the accordance with the results pointed out by Hamideh & Mahmood Zare (2012); West & Bocârnea (2008); Mohammad, Hussein, & Mohammad (2011); Ebener & O'Connell (2010); Hu & Liden (2011) and Liden, Wayne, Zhao, & Henderson (2008). Contribution: The results of the study may serve as guidance that organizations can use as inputs in the process of making future decisions and strategies in the human resource management (HRM) practice.","PeriodicalId":429254,"journal":{"name":"Management:Journal of Sustainable Business and Management Solutions in Emerging Economies","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122728954","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
Performance of Social Pillar-Based Portfolio in Developing Capital Market 社会支柱型投资组合在发展中资本市场中的表现
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies Pub Date : 2022-12-23 DOI: 10.7595/management.fon.2022.0015
Jovica M. Stankovic, K. Denčić-Mihajlov, J. Stanković, Evica Petrović
{"title":"Performance of Social Pillar-Based Portfolio in Developing Capital Market","authors":"Jovica M. Stankovic, K. Denčić-Mihajlov, J. Stanković, Evica Petrović","doi":"10.7595/management.fon.2022.0015","DOIUrl":"https://doi.org/10.7595/management.fon.2022.0015","url":null,"abstract":"Research Question: This study examined the preconditions and efficiency of socially responsible investing (SRI) in the developing capital market, specifically the Belgrade Stock Exchange (BSE). Motivation: Considering the increasing trend of SRI (GSIA, 2020) and importance of information on corporate social responsibility (CSR) to investors (Miralles‐Quiros, Miralles‐Quiros, & Arraiano, 2017), especially on social issues (Giese, Nagy, & Lee, 2021), we explored the influence of applying the social criteria in asset selection on investment portfolio performance at the BSE. This study builds on the existing literature that is mostly focused on developed capital markets of Europe, the United States and Canada (Von Wallis & Klein, 2015) by analysing the issue of SRI in the developing market. The provided setup for socially driven portfolio structuring based on market trends and social performance disclosure proved to be efficient in the long-term. Idea: The core idea of this paper was to analyse the terms for SRI and empirically evaluate the performance of social pillar-based portfolio on the BSE in order to provide evidence to support the trend of SRI in developing markets. The structure of the portfolios was set using the best-in-class strategy, while the classes were determined on the basis of the stocks’ return trends. Data: The analysis was conducted using trading data and information from financial and non-financial reports of the companies listed on the BSE. Tools: Cluster analysis was used for classification of stocks, while performances of portfolios were evaluated implementing return, volatility and risk-adjusted measures. Findings: The social pillar-based portfolio outperformed the conventional one and benchmarking indices in the observed five-year period. However, mixed results were obtained in the short-term indicating that specific effects of CSR practice on financial performance of the companies in observed developing market could still be obscured. Contribution: This paper expands the existing research related to SRI in the developing markets and offers practical recommendations for potential socially conscious investors.","PeriodicalId":429254,"journal":{"name":"Management:Journal of Sustainable Business and Management Solutions in Emerging Economies","volume":"467 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123378081","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
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信