{"title":"Not Just Empty Rhetoric: The Economic Cost of Warmongering in a Post-Conflict Environment","authors":"Adnan Muminović","doi":"10.2478/jeb-2023-0022","DOIUrl":"https://doi.org/10.2478/jeb-2023-0022","url":null,"abstract":"Abstract The post-conflict literature is consistent in reporting that wars leave a painful and lasting legacy on those that experience it directly. This article aims to contribute to this broad body of literature by exploring how threats of possible new conflict affect the generation born after the war in Bosnia and Herzegovina. Our study relies on primary data collected through a controlled experiment amongst business students at three universities dominated by three different ethnicities across the country. The students were exposed to a tailored, yet fictional media report discussing the possibility of a new war. The outcomes from our Structural Equation Model reveal that the threat of a new conflict is associated with lower entrepreneurial intentions of business students and mediated by greater risk aversion. As a result, we provide evidence that the permanent warmongering in a post-conflict context, which is often a regular occurrence in such environments, cannot be dismissed as just empty rhetoric. Rather, it can potentially have severe economic consequences that might hamper economic development and prospects in the medium and long run.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138613843","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":"Relationship Banking, Collateral, and the Economic Crisis as Determinants of Credit Risk: An Empirical Investigation of SMEs","authors":"B. Krasniqi, Mrika Kotorri, Florin Aliu","doi":"10.2478/jeb-2023-0018","DOIUrl":"https://doi.org/10.2478/jeb-2023-0018","url":null,"abstract":"Abstract This study examines the impact of relationship banking and collateral on the probability of firm loan default in Kosovo. Using a sample of 2,320 loan-level data from an individual bank credit register, findings indicate that stronger firm-bank relationships reduce the probability of default, and tighter credit policies regarding higher collateral requirements and interest rates have the opposite effect. Re-specifying the model to control for the banking sector concentration Hirschman-Herfindahl Index (HHI) and the Net Interest Margin (NIM), the firm-bank relationship is no longer statistically significant. Results show that the crisis negatively impacts credit risk, while HHI positively affects the probability of loan default. This evidence suggests that banking relationship matters only in competitive markets. To test the potential interaction effect between relationship banking and collateral, Fairlie’s (1999) decomposition technique is deployed. Our results imply that high concentration levels in the banking sector render firm-bank relationships relatively less important. This is of utmost importance for SMEs, banks, and policymakers.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138619809","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":"Analyzing the Effects of Financial Education on Financial Literacy and Financial Behaviour: A Randomized Field Experiment in Croatia","authors":"Jasena Torma, D. Barbić, Marijana Ivanov","doi":"10.2478/jeb-2023-0019","DOIUrl":"https://doi.org/10.2478/jeb-2023-0019","url":null,"abstract":"Abstract In this paper, we examined the financial attitude and financial behavior of students and determined their level of financial literacy through a survey. We found that female students report less interest in finance, have less confidence in their financial abilities, and have a lower financial literacy score than male students. On average, we can conclude that students have a low level of financial literacy. In this study we found factors that influence financial literacy which are age, student’s GPA, whether they already took some form of personal finance course, a proxy for numeracy, and place of birth in terms of a capital city. Furthermore, based on controlled experimental field research, we conducted financial training, and investigated causal evidence of the effectiveness of financial education. A training intervention to increase financial literacy was effective and improved financial attitude but increasing financial literacy through means of education was insufficient for making better financial decisions since students did not report a lower frequency of impulsive buying or a higher hypothetical savings rate. We found no evidence that female students were affected by this training any differently than male students.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138623056","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 Influence of Working Capital Management on the Profitability of Manufacturing Enterprises - The Case of Croatia","authors":"Milan Stanić, Melita Cita, Marin Šulentić","doi":"10.2478/jeb-2023-0023","DOIUrl":"https://doi.org/10.2478/jeb-2023-0023","url":null,"abstract":"Abstract The aim of this research is to examine the relationship between working capital management and the profitability of Croatian manufacturing enterprises and to provide empirical evidence on the effects of working capital management on the level of profitability of manufacturing enterprises in the Republic of Croatia in the period from 2018 to 2021. The collected data were analyzed through multiple regression analysis, using a panel regression model with random effects. By analyzing panel data, the impact of receivables from customers, inventories, liabilities to suppliers, sales growth and GDP growth on the profitability of Croatian manufacturing companies was examined. The analysis of panel data examined the impact of trade receivables, inventories, payables, sales growth and GDP growth on the profitability of Croatian manufacturing enterprises. The obtained results also suggest that the variables the days sales outstanding, the days inventory outstanding and GDP growth are not statistically significant.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138619093","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":"Navigating Diverse Frontiers in Economics and Business of See Region - Editorial","authors":"Adnan Efendić, Ljiljan Veselinović","doi":"10.2478/jeb-2023-0028","DOIUrl":"https://doi.org/10.2478/jeb-2023-0028","url":null,"abstract":"","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138626611","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":"Patriotic Tourism Demand in Albania: A System GMM Model Approach","authors":"Emiljan Karma","doi":"10.2478/jeb-2023-0027","DOIUrl":"https://doi.org/10.2478/jeb-2023-0027","url":null,"abstract":"Abstract This paper aims to evaluate the determinants of international tourism demand in Albania following the existing literature and particulars of the tourism sector in Albania using Dynamic Panel Data from 2011 to 2019. The analysis is conducted on the sample of 20 countries of origin using the Two-Step GMM Model. The analysis highlights the importance of word-of-mouth effect in the tourism industry in Albania marked at the same time by inferior goods and services, as defined by the microeconomic theory. While on the one hand, tourism becomes very useful in terms of social cohesion (converging familiars and relatives), on the other hand, it can support better the general economic development. At the same time, this study underlines the relative importance of Government Spending. The National strategy on tourism must look not only at the tourism demand quantity but mostly at the sustainable and greater added value tourism segments.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138612003","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 Influence of Cultural and Personal Properties on Job Performances and Organizational Commitment in Teleworkers","authors":"Taboroši Srdana, Poštin Jasmina, Terek Stojanović Edit, Rajković Avdija Jelena, Berber Nemanja, Nikolić Milan","doi":"10.2478/jeb-2023-0015","DOIUrl":"https://doi.org/10.2478/jeb-2023-0015","url":null,"abstract":"Abstract The paper presents the results of research on the impact of national culture, big five personality traits, and emotional intelligence on job performances and organizational commitment in teleworkers in West Balkan countries. These impacts were also determined for employees in conventional working arrangements, which enabled a comparison of the results for these two groups of respondents. The research was conducted in the countries of the West Balkan and included 313 respondents. National culture and emotional intelligence have a greater impact on job performances and organizational commitment for employees in conventional working arrangements than in teleworkers. Big five personality traits in some cases affect stronger for employees in conventional working arrangements, while in some cases they affect more powerfully in teleworkers. Teleworkers are less influenced by the environment, and thus less influenced by national culture. Also, teleworkers have fewer opportunities to use emotional intelligence in achieving business goals.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138611984","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}
J. Huňady, Peter Pisár, Hrvoje Jošić, Berislav Žmuk, Mirjana Pejić Bach
{"title":"Government and Business Funding of Sources of Funds for R&D at Universities: Complements or Substitutes?","authors":"J. Huňady, Peter Pisár, Hrvoje Jošić, Berislav Žmuk, Mirjana Pejić Bach","doi":"10.2478/jeb-2023-0021","DOIUrl":"https://doi.org/10.2478/jeb-2023-0021","url":null,"abstract":"Abstract The paper examines the relationship between different sources of funding for research and development at universities. Following the European Commission methodology, we distinguished between government, business and abroad financing of research and development (R&D) in the higher education sector. The paper aims to test short-run and long-run relationships between different funding sources. We are focused on the relationship between government and business funding of R&D at universities. Based on panel data for EU countries, we applied the Granger causality tests and General methods of moments to examine short-run causality and cointegrating regression to search for potential long-run relationships. Our results suggest that government funding of R&D act as a complement to business funding. Hence, rising government financial support for research in higher education can, lead to higher funding from the business sector. Founding from abroad seems to have a similar effect on business funding in the long run.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138614461","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 Direct and Moderating Effect of Sociodemographic Variables on Tax Compliance Behaviour","authors":"Hana Paleka, G. Karanović, Ana Štambuk","doi":"10.2478/jeb-2023-0017","DOIUrl":"https://doi.org/10.2478/jeb-2023-0017","url":null,"abstract":"Abstract The purpose of this study is to empirically examine whether taxpayers’ age, gender, income, and education level impact their (non)compliance. It expands the analysis through the investigation of the moderating role of selected sociodemographic variables. This research was operated in Croatia and in total it comprised 862 fully completed questionnaires. Based on this sample of individual taxpayers (income tax), to interpret the obtained results, OLS regression analysis was employed. The moderation model has been used to explore the influence of sociodemographic variables on tax compliance. The study discloses several results. First, it demonstrates that taxpayers’ age, gender, and education level are significantly associated with their compliance behaviour. In addition to this, the results confirm moderating role of gender, education level, and income level on chosen tax compliance determinants. The findings of this research contribute to policy implications in understanding the groups that require additional attention to create adequate and efficient fiscal strategies.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138616051","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":"Competence Proximity to Employers’ Requirements and Labour Market Success of Economics and Business Graduates","authors":"B. Škrinjarić","doi":"10.2478/jeb-2023-0024","DOIUrl":"https://doi.org/10.2478/jeb-2023-0024","url":null,"abstract":"Abstract This research concentrates on Croatia with threefold aims: (1) to identify and quantify key competences developed by economics-and-business graduates; (2) to assess the degree of proximity between competences acquired at universities and those required on the labour market; and (3) to investigate how this proximity translates labour market outcomes for graduates. This research is based on primary data, collected through two questionnaires, one for graduates and one for firms. Key competences were identified using factor analysis. Proximity between employers-required and graduates-acquired competences were then used as covariates in explaining differences in graduates’ employability and wage premiums using standard regression model, Heckman selection model and instrumental variables approach. Results show that university education is highly skewed towards the acquisition of economics-and-business practical competences, while employers put greater emphasis on generic competences. Results also point to a penalty of having a competence gap on graduates’ probability of being employed and on their wages.","PeriodicalId":43828,"journal":{"name":"South East European Journal of Economics and Business","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138623418","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}