{"title":"Bitcoin monthly return forecast: A comparison of ARIMA and multi layer Perceptron Artificial Neural Network","authors":"Ivan Lazović, Bojan Đorđević, Marija Lukić","doi":"10.5937/intrev2302163l","DOIUrl":"https://doi.org/10.5937/intrev2302163l","url":null,"abstract":"In this paper, we compare the predictive power of Auto Regressive Integrated Moving Averages (ARIMA) and Multi-Layer Perceptron Artificial Neural Networks (MLP ANN) model to short-term forecast the monthly returns of Bitcoin cryptocurrency. We evaluate the performance of two models using time series with monthly data from January 2018 to December 2021. The key parameters for the final assessment of prognostic models are the values of Root Mean Square Error-RMSE and Forecast Error-FE. The results of the short-term BTC return forecast showed better properties of composite compared to univariate time series forecasting models, i.e., higher prognostic power of the MLP ANN model compared to the selected ARIMA (1,1,3) model (lower RMSE and FE). The results point to further comparative research of prognostic models and the possibility of forming more complex and hybrid structures of neural network models in order to predict economic phenomena as accurately as possible.","PeriodicalId":43325,"journal":{"name":"International Review","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135058000","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}
Slobodan Šegrt, Dragan Vučinić, Milan Mihajlović, Miodrag Radivojević
{"title":"The role of the banks' rating system in the allocation of loans","authors":"Slobodan Šegrt, Dragan Vučinić, Milan Mihajlović, Miodrag Radivojević","doi":"10.5937/intrev2302149s","DOIUrl":"https://doi.org/10.5937/intrev2302149s","url":null,"abstract":"The subject of this paper is the analysis of the application of banking internal credit risk measurement models for the purpose of calculating the minimum regulatory capital. The Basel Committee established proposals for an internal rating-based approach (IRB approach-internal rating-based) to capital requirements for credit risk. Such an approach, which relies on the bank's internal assessment of counterparties and exposures, can ensure two key objectives: the first is additional risk sensitivity, in which capital requirements based on internal ratings can be much more sensitive on the drivers of credit risk of economic losses in the banking portfolio; the second is incentive compatibility, where the appropriate structure of the RBI approach can provide a framework that encourages banks to continue to improve their internal risk management practices. The internal ranking approach aims to improve the safety and soundness of the financial system. The paper defines the terminology and classification of the rating system. The probability of default (PD-probability at default) and the other two risk components LGD (loss given default) and EAD (exposure at default) are key input parameters for the calculation of regulatory capital. The rating system is, therefore, a significant driver of risk management and financial performance measurement. To be in a position to demonstrate to supervisors that an internal rating system should be used for the purposes of determining minimum regulatory capital requirements, banks must first demonstrate that the rating system is an integral part of their ongoing operations and risk management culture.","PeriodicalId":43325,"journal":{"name":"International Review","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135058007","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":"Cooperation between IT companies and ecosystem participants as one of the innovation-generating factors: An empirical case from Serbia","authors":"Nenad Ravić, Marija Đekić, Boris Korenak","doi":"10.5937/intrev2302138r","DOIUrl":"https://doi.org/10.5937/intrev2302138r","url":null,"abstract":"Companies in the IT sector cannot function independently if they want to follow global innovation trends. In a highly competitive environment, access to sources of knowledge and technologies outside the company is necessary. In this context, companies should look to universities, and other firms and government laboratories, as potential sources of useful knowledge and technologies. Cooperative initiatives originate from both the academic and industrial spheres, often encouraged by governments, at regional and national levels, and by multinational organizations. Companies in the IT sector should base their business on interactions in their ecosystem. This means that it is desirable to direct human, social and intellectual capital towards more intensive cooperation primarily between universities, industry and government, in terms of the Triple Helix (TH) concept, all with the aim of greater innovation. The research analyses the impact of cooperation between companies and participants from the external ecosystem aimed at developing innovations and explains the dynamics of such interactions as a factor of competitiveness and development.","PeriodicalId":43325,"journal":{"name":"International Review","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135057353","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":"Guest satisfaction and loyalty in the restaurants of Serbia","authors":"Momčilo Conić, Goran Perić, Nataša Novaković-Božić, Sandra Dramićanin","doi":"10.5937/intrev2302067c","DOIUrl":"https://doi.org/10.5937/intrev2302067c","url":null,"abstract":"The aim of this research is to examine factors (price perception, food quality, staff quality and physical environment quality) that can affect guest satisfaction in restaurants in the Republic of Serbia, as well as the impact of satisfaction on guest loyalty. The theoretical model includes hypotheses, which are detailed and tested in the paper. The data was collected using a convenient sampling method, while 152 respondents participated in the research. Partial least square path analysis was used for data analysis and performed in the R programming language 4.2.5. The results show that the independent variables: price perception, food quality, staff quality and physical environment quality are positively related to the dependent variable guest satisfaction. At the same time, guest satisfaction is positively related to guest loyalty. The results of this research are suitable for practical application, as restaurant owners and managers can use them to improve satisfaction and increase guest loyalty in their restaurants. Satisfied and loyal guests return repeatedly, and this has a positive effect on success in business and ensures constant growth in the market. The research results can be used as directions for planning further activities in restaurants on the modern hospitality market, and can give strategy idea to owners and managers how to stay focused on guests, satisfy their wishes and needs, and how to make them loyal.","PeriodicalId":43325,"journal":{"name":"International Review","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135058006","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 development of ecological awareness in the Republic of Serbia","authors":"Sladjana Vujičić, M. Cogoljević, Zorana Nikitović","doi":"10.5937/intrev2202059v","DOIUrl":"https://doi.org/10.5937/intrev2202059v","url":null,"abstract":"The present time is characterized on the one hand, by a wealth of material goods and a high level of technological development, and on the other hand, by the destruction of nature and the environment. Not often, man is deprived of pure nature, clean water and air. Today we can firmly state that if nature defines our existence and our relationship with it in general, the development of ecological awareness can help change our relationship with nature, and promote more responsible behavior towards it. This paper analyzes the concept and elements of ecological awareness, ecological news factors, the importance of ecological awareness. The research that is presented was conducted in several cities in the Republic of Serbia, by filling in a survey of 10 questions, in the period from April to May 2021. Based on completely random sampling, 105 participants from the territory of several cities in the Republic of Serbia (Kragujevac, Niš, Belgrade, Vranje and Loznica) were selected.","PeriodicalId":43325,"journal":{"name":"International Review","volume":"1 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71236659","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}
M. Nedeljković, A. Puška, Aleksandar Đurić, J. Polcyn
{"title":"Evaluation of rural tourism in the area of Brčko District using multi-criterial decision-making methods","authors":"M. Nedeljković, A. Puška, Aleksandar Đurić, J. Polcyn","doi":"10.5937/intrev2204143n","DOIUrl":"https://doi.org/10.5937/intrev2204143n","url":null,"abstract":"The aim of the research in the paper is to evaluate the state of rural settlements in Brčko District with regard to the development of rural tourism. Together with the Tourism Department of the Brčko District, five experts from the field of tourism were selected and they evaluated the current state of rural settlements in this part of Bosnia and Herzegovina. The evaluations were processed using the fuzzy approach with the SWARA (Stepwise Weight Assessment Ratio Analysis) multi-criteria decision-making method. Using this method, the weights of the used criteria were determined, representing the degree of development of conditions in rural settlements. The results showed that \"rural facilities and services\" are the best developed in rural settlements, while the criteria related to feelings and experiences are the least developed. Based on this research, it is possible to implement measures to strengthen certain criteria that have not been adequately developed in order to further improve rural tourism in Brčko District.","PeriodicalId":43325,"journal":{"name":"International Review","volume":"1 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71237069","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}
Borko Somborac, Zorana Nikitović, Aleksandra Penjišević
{"title":"Employees training in the context of organizational changes in small and medium enterprises in Serbia","authors":"Borko Somborac, Zorana Nikitović, Aleksandra Penjišević","doi":"10.5937/intrev2204024s","DOIUrl":"https://doi.org/10.5937/intrev2204024s","url":null,"abstract":"Increasing market demands, caused by constant quantitative and qualitative changes, put modern organizations in the position where they need to follow new business trends in order to meet the standards set by customers. Continuous changes create challenges for organizations to address market demands within the framework of improving human resource skills, to create long-term profitability and competitive advantage. In this process, one of the most critical issues related to organizational change is employees' new knowledge, competencies, and skills. Whether structural or \"soft\" changes, organizations have obligations to adequately prepare and train employees for new work tasks that impose changes in the environment. In such a business environment, continuous and high-quality training contributes to more effective acceptance, implementation, and stabilization of the work process, viewed from the psychological aspect of acceptance of changes by management and employees. To achieve this successfully, organizations should provide a strategic plan for permanent and adequate training to maximize employees' potential in turbulent times. The purpose of this paper is to examine the correlation between employee training in accordance with the changes that are constantly happening in business processes within small and medium enterprises in Serbia.","PeriodicalId":43325,"journal":{"name":"International Review","volume":"1 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71237095","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":"How Amazon went from an uncertain online bookstore to the leader in e-commerce","authors":"Michelle Dorio","doi":"10.5937/intrev2204164d","DOIUrl":"https://doi.org/10.5937/intrev2204164d","url":null,"abstract":"Amazon.com is one of the most well-known, well-respected companies in the world. When the company first started as an online bookstore, many people doubted its future. Jeff Bezos applied fourteen leadership principles that emphasize the importance of a good company-consumer relationship. This firm has become known for its top-tier customer service and for being a community of consumers. From efficient contact centers to well written customer guidelines, Amazon has proven that their number one priority is their consumer. Jeff Bezos' fourteen leadership principles have propelled Amazon to have efficient, and successful leaders. Each principle helps Amazon's leaders reflect on their own skills, as well as look for leaders that meet their business philosophy.","PeriodicalId":43325,"journal":{"name":"International Review","volume":"1 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71237169","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":"Brussels I regulation: Recognition and enforcement of foreign court decisions in civil and commercial matters","authors":"Vlada Stanković, Ana Opačić","doi":"10.5937/intrev2204176s","DOIUrl":"https://doi.org/10.5937/intrev2204176s","url":null,"abstract":"The process of integration of European countries began with the formation of the Coal and Steel Community and as a historical category in a certain domain continues. This decades-long integration has been carried out in phases and in certain segments, and this very way of integration has resulted in these areas not consistently following the basic principles on which the EU is based. The self-proclaimed goal of European integration, its maintenance and development as areas of freedom, security and justice, necessarily required, among other things, instruments and measures related to judicial cooperation in civil and commercial matters, which would ensure the smooth functioning of the EU internal market. The rules of Brussels and regulations establish a single system of recognition and enforcement of foreign court decisions, overcoming the differences that exist in the national systems of member states, and unified rules on simplification of procedures for faster and simpler recognition and enforcement of such decisions. The authors below present the achieved level of unification of these rules from the aspect of functionality, primarily the time needed to execute a foreign decision, reduction of formalities, certainty of outcome and impossibility of conducting a parallel procedure, as the primary goal of Brussels I regulation.","PeriodicalId":43325,"journal":{"name":"International Review","volume":"1 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71237233","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}
Maja Staletović, Mirjana Stevanović, M. Gavrilović
{"title":"The economic analysis of the business operation of trade companies in the Republic of Serbia during the Covid-19 pandemic","authors":"Maja Staletović, Mirjana Stevanović, M. Gavrilović","doi":"10.5937/intrev2202077s","DOIUrl":"https://doi.org/10.5937/intrev2202077s","url":null,"abstract":"This paper analyses the business operation of trade companies in the Republic of Serbia during the Covid-19 pandemic and the impact of the crisis caused by this virus on the work of these companies. Namely, this crisis has caused serious problems in a short period in most sectors and altered the way they do business. It can be said that to a certain extent it caused damage to trade companies, with the effect of the pandemic differing by trade segments. For example, trade companies selling food products even achieved positive results in 2020, when compared to 2019. Accordingly, this paper aims to perceive the manner of business operation and achieved economic results of trade companies that operate in the territory of the Republic of Serbia during the period of existence of the Covid-19 virus.","PeriodicalId":43325,"journal":{"name":"International Review","volume":"1 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71236481","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}