{"title":"What drives movements in the REER of the SEE countries? A decomposition approach","authors":"Aleksandra Đorđević","doi":"10.5937/ekopre2306271d","DOIUrl":"https://doi.org/10.5937/ekopre2306271d","url":null,"abstract":"The real effective exchange rate (REER) is an important indicator for researchers and policymakers that contains valuable information about a country's competitiveness and economic performance. Despite the numerous literature that deals with the analysis of exchange rates, there are very few analyzes of the main drivers of REER changes, especially when it comes to transition economies. To fill this gap, we analyze the shifting patterns observed in the REER movement in the countries of Southeast Europe (SEE). By using a new approach in the literature that enables the decomposition of REER changes, we aim to explore the underlying driving forces behind REER changes, which is particularly significant in the light of current global instability. The results show large variations across eight countries from the SEE region and through time since the beginning of the 21st century. The entire observed period can be generally characterized as a period of real appreciation of the currencies of most of the analyzed countries, which indicates the deterioration of their international competitiveness in the period from January 2001 to December 2020. Analysis of the drivers of the REER changes, using two approaches, showed that short-run REER changes are dominated by the nominal effective exchange rate (NEER) changes, in most of the analyzed countries. Although the contribution of price changes (domestic and foreign) is lower than the contribution of the NEER changes, it cannot be concluded that the inflation differential contributes little, and by no means negligible, to the REER changes. This result indicates the necessary caution of the SEE countries in the context of current price instabilities.","PeriodicalId":483971,"journal":{"name":"Ekonomika preduzeća","volume":"145 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":"135213858","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}
Teodora Tica, Bojana Vuković, Dušan Saković, Dejan Jakšić
{"title":"Specific impact of the Covid-19 pandemic on the profitability of logistics companies based in the Western Balkan countries","authors":"Teodora Tica, Bojana Vuković, Dušan Saković, Dejan Jakšić","doi":"10.5937/ekopre2306313t","DOIUrl":"https://doi.org/10.5937/ekopre2306313t","url":null,"abstract":"The aim of this paper is to theoretically and empirically present the effect of the Covid-19 pandemic on profitability. In difficult economic times caused by coronavirus, companies that supplied logistical services assisted other businesses in successfully conducting their daily business operations. On the other side, the pandemic has been a contributing factor in the massive interruption in transportation flows all over the world. The research was conducted on a sample of 798 active companies that operated within the logistics industry of the Western Balkans in the period from 2015 to 2020. An empirical research was performed using panel regression analysis. Evaluation of the fixed-effect models confirmed the existence of a positive and statistically significant impact of the Covid-19 pandemic on the profitability expressed through return on total assets (ROA) and return on equity (ROE). The results confirmed the specificity of the logistics industry, indicating that it is one of the few industries that have managed to achieve higher profitability during the crisis and recession brought by the pandemic in early 2020. Given that the logistics sector has played a vital role in supplying household supplies, medicines and medical equipment, the results could help logistics companies to further improve operational performance and risk management in pandemic situations, as well as to improve the resilience of their activities to future similar crises.","PeriodicalId":483971,"journal":{"name":"Ekonomika preduzeća","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":"134884867","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}
Irena Janković, Vlado Kovačević, Isidora Ljumović, Svetlana Popović
{"title":"Determinants of bank lending to SMEs in the EU","authors":"Irena Janković, Vlado Kovačević, Isidora Ljumović, Svetlana Popović","doi":"10.5937/ekopre2306260j","DOIUrl":"https://doi.org/10.5937/ekopre2306260j","url":null,"abstract":"This study examines factors that influence bank lending to SMEs in the EU. We employ relevant firm-, industry-, and macro-level variables to confirm the significance of bank lending process determinants through multiple panel data models. We find that increase in GDP p.c., number of bank branches, banking market concentration, support measures, repayment in event of bankruptcy and shorter resolving time positively impact SMEs access to loans. SMEs with higher turnover and working in construction or manufacturing sectors have a better chance to obtain bank loans, while access to bank financing is negatively affected by increase in inflation rate and operations in service sector.","PeriodicalId":483971,"journal":{"name":"Ekonomika preduzeća","volume":"17 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":"135213581","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":"A contemporary bibliometric analysis of the sharing economy literature","authors":"Miljan Leković, Darko Dimitrovski, Tanja Stanišić","doi":"10.5937/ekopre2306355l","DOIUrl":"https://doi.org/10.5937/ekopre2306355l","url":null,"abstract":"The study deployed an evaluative bibliometric analysis of contemporary literature on the topic of sharing economy indexed in the Web of Science (WoS) and/or Scopus within the fields of economics, business and management to provide an objective insight into its academic structure. Also, a comparative analysis of WoS and Scopus databases was conducted with the intention to examine the importance of both index databases concerning the investigated issue. Using a data-driven analysis, geographical distribution, the level of dispersion of papers among journals, the most frequently researched topics, the most influential authors, papers and scientific journals of the sharing economy knowledge within the predefined research field were determined. Comparative analysis of WoS and Scopus databases revealed that Scopus is a more comprehensive, but not more significant source of the sharing economy knowledge than WoS database, which itself could be characterized as an outstanding subset of Scopus.","PeriodicalId":483971,"journal":{"name":"Ekonomika preduzeća","volume":"104 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":"134883499","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":"Analysis of megatrends for the purpose of strategic forecasting of companies in Serbia","authors":"Nađa Gabriš","doi":"10.5937/ekopre2306302g","DOIUrl":"https://doi.org/10.5937/ekopre2306302g","url":null,"abstract":"Megatrends represent a group of trends or phenomena of social, economic, and technological nature that develop gradually, ultimately making their elimination impossible. At a global level, companies are confronted with increasingly shorter business longevity, largely caused by the impact of megatrends. Considering that the influence of megatrends is omnipresent, and that their effects cannot be completely eliminated, the only option remaining is for management to provide an adequate response to their emergence, which simultaneously requires awareness of current and future megatrend developments. A specific focus of this study is examining the prevalence of strategic foresight and analysis of megatrends within a sample of companies with the highest revenues according to the Serbian Business Registers Agency (SBRA). The research was conducted through questionnaires. Furthermore, the subject of analysis is determining the extent to which companies in Serbia are exposed to megatrends based on relevant indicators. By weighing the defined indicators, final indicators for key megatrends have been established, through which the strength of megatrend impact in Serbia has been interpreted. If there is a desire for long-term sustainable business operations, there is a need to also be aware of future opportunities and potential threats posed by megatrends. The goal of conducting research in this domain is to raise awareness about the challenges that companies will face in the foreseeable future and thereby gain insights into the areas of business where adaptations are necessary.","PeriodicalId":483971,"journal":{"name":"Ekonomika preduzeća","volume":"17 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":"135213589","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":"Taxes and income inequality in the European Union: A quantile regression approach","authors":"Stefan Vržina, Stevan Luković","doi":"10.5937/ekopre2306325v","DOIUrl":"https://doi.org/10.5937/ekopre2306325v","url":null,"abstract":"This paper tests the role of taxes in reducing income inequality in the European Union members. Using Eurostat data on Gini coefficients in a 14-year period, a slight growing trend of income inequality is found. The main findings indicate that taxes have a negative and statistically significant impact on income inequality, though this impact is relatively weak. A quantile regression estimates suggest that the redistributive power of taxes is highest in the most unequal societies and vice versa. It implies that taxes reduce income inequality mostly in the early stages of government efforts toward reducing income inequality. In the paper it is argued that combating cross-border tax avoidance is of the first-order importance for reducing income inequality instead of increasing statutory tax rates or progressivity of taxes. Research results are robust to changes of sampling period and lagging independent variables.","PeriodicalId":483971,"journal":{"name":"Ekonomika preduzeća","volume":"22 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":"134884829","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}