Economic Horizons最新文献

{"title":"Effects of structural changes in the economy of the Republic of Serbia: Old problems, new reform challenges","authors":"Edvard Jakopin","doi":"10.5937/ekonhor2003191j","DOIUrl":"https://doi.org/10.5937/ekonhor2003191j","url":null,"abstract":"Structural changes in the economy directly affect macroeconomic and financial stability, income growth, productivity and economic efficiency, social inclusion, and the improved quality of life The global contraction in 2020, caused by COVID-19, the deepest since the Second World War, will cause a great global economic reset, extreme poverty will increase, and the biggest permanent loss will be in human capital The biggest consequences for the Serbian economy will be a slowdown in structural reforms The key performance of the economy in the conjunctural period was positive and affected the growth of the resilience of the economic system, but the research showed that the implemented structural reforms were insufficient and slow, that the old problems are still the causes of low competitiveness In the context of new reform challenges, the focus of activities needs to be shifted towards creating a stimulating environment for the development of domestic entrepreneurship and the growth of private investment in order to increase trust in the entrepreneurship-institution relationship © Ekonomski fakultet Univerziteta u Kragujevcu","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"20 1","pages":"191-208"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88221163","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":"From order to prosperity: The importance of competition in the Social market economy model","authors":"V. Ivanović","doi":"10.5937/EKONHOR1802141I","DOIUrl":"https://doi.org/10.5937/EKONHOR1802141I","url":null,"abstract":"Searching for an institutional structure which enables economic success is in the midst of the practical efforts of governments all around the world, as well as the academic studies endeavoring to understand the sources of success in the most prosperous national economies. The supremacy of the German economy in the European Union, as well as worldwide - from the level of the GDP per capita to high productivity, innovativeness and export performances - is the basic motivation this study rests on. Due to the fact that, unlike a failure, an economic success is always achieved in the long run, this study is aimed at revealing the (historical) institutional roots that have paved the way for the economic success of contemporary Germany. In that context, the model of the Social market economy, i.e. the competitive order (Wettbewerbsordnung), its meaning and importance in solving the allocative equation and reaching the high levels of economic efficiency are the subject matter of analysis in this paper. The key results refer to the identification of the diverse economic and social benefits that a competitive order brings into being, as well as the determination of and pointing to the essential institutional preconditions which such an order is feasible in.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"60 1","pages":"141-155"},"PeriodicalIF":0.0,"publicationDate":"2018-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75290710","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":"Employee Recruitment and Its Relationship with Employee Satisfaction: Verifying the Mediating Role of the Employer Brand","authors":"Marko Slavković, Goran Pavlović, Marijana Šimić","doi":"10.5937/EKONHOR1802127S","DOIUrl":"https://doi.org/10.5937/EKONHOR1802127S","url":null,"abstract":"The transformation of a capital-intensive to knowledge-driven economy has marked the beginning of a new epoch in business doing. Carrying out business activities in an extremely dynamic environment has greatly reduced the importance of traditional concepts and techniques, which is the reason why the focus has shifted to human resources and their management. Accordingly, a company should attract, retain and motivate its employees in order to ensure a high level of their satisfaction by ensuring the achievement of strategic goals. A possible direction of achieving the desired position is based on the development of the employer brand. Therefore, the aim of this paper is to determine the impact of practice in conducting employee recruitment activities on their satisfaction, as well as the influence of the employer brand as a mediator on the identified relationship between the recruitment and satisfaction of employees in Serbia. The results of the conducted empirical research study have proven the existence of a statistically significant positive influence of employee recruitment on satisfaction, while the mediating influence of the employer brand has also been fully confirmed.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"21 1","pages":"127-139"},"PeriodicalIF":0.0,"publicationDate":"2018-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83694212","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":"Investment diversification as a strategy for reducing investment risk","authors":"M. Lekovič","doi":"10.5937/EKONHOR1802173L","DOIUrl":"https://doi.org/10.5937/EKONHOR1802173L","url":null,"abstract":"Investment diversification is a widely accepted investment strategy, aimed at reducing investment uncertainty, while simultaneously keeping the expected return on investment unaltered. The development of investment diversification coincided with the development of portfolio theory. At the time when traditional portfolio theory was recognized as the leading portfolio management practice, the simple diversification of investments was the most commonly used strategy; however, due to its inability to recognize the importance of the correlation between returns on different investments, simple diversification was later rejected in modern portfolio theory and replaced with efficient diversification. The research study is aimed at conducting a comparative analysis between the simple and efficient diversifications of investments, together with the inevitable analysis of the optimal number of securities in a portfolio and the testing of the validity of the international diversification of investments. By applying a qualitative research methodology, it is concluded that the benefits of the international diversification of investments are still substantial, and as such outweigh specific limitations, and that the number of securities in a portfolio should be increased as long as its marginal benefits, in the form of reduced investment risk, exceed its marginal costs - in terms of increased portfolio management costs, which also represents the main result of the research.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"20 1","pages":"173-187"},"PeriodicalIF":0.0,"publicationDate":"2018-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85295372","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":"Motives for, benefits from and accounting support to the ISO 14001 standard implementation","authors":"D. Jovanović, Vesna Janjić","doi":"10.5937/EKONHOR1801027J","DOIUrl":"https://doi.org/10.5937/EKONHOR1801027J","url":null,"abstract":"With an increase in the number of the companies that have adopted the ISO 14001 standard, the interest demonstrated in research studies regarding the assessment of the motives for and benefits from the ISO 14001 standard implementation has also been increasing. Nevertheless, in spite of the importance of the ISO 14001 standards, a discussion on their importance and the role of accounting in this process yet remains an open issue among researchers and practitioners. Starting from the above said, the main purpose of the research conducted in this paper is to identify the motives for and benefits from the implementation of the ISO 14001 standard and to examine the role of accounting in the implementation process. The empirical research in this paper was performed on the example of the 33 companies that have the obligation to submit their data on the sources of environmental pollution to the National Pollution Register. The data were collected through a poll of the management of the companies via a questionnaire, whereas the data analysis was performed by using various quantitative statistical methods and techniques, and primarily through the application of descriptive statistics and non-parametric tests. The results of the research indicate that the primary motives for the introduction of the ISO 14001 standards are an environmental responsibility, creating the image of a socially responsible company and the improvement of performances, whereas the benefits can be synthesized through the improvement of environmental performances, efficiency and profitability. Also, the results of the research study indicate that the managers of the companies partly recognize the role of accounting in the implementation of the ISO 14001 standard. The main conclusion of the research is that the management of the companies partly recognize the role of accounting in the ISO 14001 standards implementation. The main conclusion of the research is that the management of the companies in Serbia understand the importance of the implementation of the ISO 14001 standards, but not to a proper extent, as well as the role of accounting in that process.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"1 1","pages":"27-43"},"PeriodicalIF":0.0,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83149929","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":"Does green accounting matter to the profitability of firms? A canonical assessment","authors":"A. Patrick, G. Edesiri","doi":"10.5937/EKONHOR1801017E","DOIUrl":"https://doi.org/10.5937/EKONHOR1801017E","url":null,"abstract":"Quite a few studies have argued that green accounting does matter to the profitability of a firm; however, little is known about Nigerian firms. To address this gap, this paper seeks to investigate whether green accounting matters to the profitability of Nigerian firms or not. Towards achieving this, an expo-facto research design was adopted and ten non- consumer goods firms listed on the Nigerian Stock Exchange were selected during 2012-2016. The data were sourced from the annual reports and accounts of the selected non-consumer goods firms. The data comprised of green accounting (expenses of community involvement and the amount spent on environmental protection) and profitability (return on equity and Tobin Q) indicators. The data obtained were analyzed by using canonical correlations. The study revealed that there was no significant relationship between green accounting and profitability measures among the non-consumer goods firms. The implication is that whether or not firms engage in green accounting, their profitability level remains unchanged. In addition, this provides evidence that the practice of green accounting among non-consumer goods firms in Nigeria is still at its ad-hoc stage. On the basis of the above findings, we proposed that the Financial Reporting Council of Nigeria and corporate entities should, as a matter of fact, accommodate the growing awareness in green accounting and formulate a disclosure requirement aimed at improving the profitability of firms. This will no doubt enhance green accounting practices among firms and in general policies aimed at enhancing their competitiveness in the industry in which they are domiciled.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"6 1","pages":"17-26"},"PeriodicalIF":0.0,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75785451","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":"Biases in the decision-making process and possibilities of overcoming them","authors":"J. Nikolić","doi":"10.5937/EKONHOR1801045N","DOIUrl":"https://doi.org/10.5937/EKONHOR1801045N","url":null,"abstract":"Starting from the normative approach, a decision as the outcome of the decision-making process should represent a rational choice made by a completely informed decision-maker. With the development of the behavioral perspective of the decision-making process, certain mistakes in decision-makers' behavior have been noticed, emerging as a consequence of their limited cognitive capacities and the information asymmetry. The application of heuristics as simplified mental strategies, as well as certain deformations in decision-makers' thinking and perception, leads to the different biases that affect their attitudes and approach to problem solving. The aim of the research study is reflected in identifying the biases that most often occur in the decision-making process, as well as their causes and consequences. The qualitative methodology of the research has been applied in parallel with the relevant methods of analysis and synthesis, deduction and induction. On the basis of the conducted empirical studies, the recommendations for overcoming biases have been defined, which represents the main result of the research study. The derived conclusions with respect to the possibilities of overcoming biases can help decision-makers to improve the decision-making process in real situations.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"51 1","pages":"45-59"},"PeriodicalIF":0.0,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74757643","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 International Monetary System","authors":"Nenad Ž. Janković","doi":"10.5937/EKONHOR1801075J","DOIUrl":"https://doi.org/10.5937/EKONHOR1801075J","url":null,"abstract":"During the 20th century, the dollar gained the status of the world's most important currency. Therefore, the Bretton Woods International Monetary System was based on the dollar. However, in the 1970s, the situation changed significantly - demand for dollars declined, the currencies of the most important European countries became convertible, the volume of international trade increased greatly, international capital flows were liberalized, the external convertibility of the dollar to gold was abolished, and the currencies began to fluctuate. In this way, the original Bretton Woods international monetary system ceased to exist. In addition to the changes, the functioning of the international monetary system is greatly impacted by the fact that the United States recorded an increasing amount of current account deficits from year to year and, in the 1980s, moved from the position of the net creditor to that of the net debtor, that the euro was created on the soil of the EU and that China became the world's largest exporter and one of the largest (if not the largest) world economies. For this reason, the theoretical assumptions of the international monetary system are systematized in the paper, the role of other world currencies is examined, and the question of why the dollar continues to be the dominant world currency is answered.","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"12 1","pages":"75-89"},"PeriodicalIF":0.0,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84316862","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 Comparative Analysis of Outstanding Claim Reserves","authors":"Zlata Djuric, Bojan Maračić","doi":"10.5937/EKONHOR1703211D","DOIUrl":"https://doi.org/10.5937/EKONHOR1703211D","url":null,"abstract":"The key processes in the business of insurance companies (IC) which define the financial viability of their business activities, as the most important element, are the adequate amount of technical reserves (TR). The TR level enables a critical insight into the numerous aspects of the insurers industry, which can be a useful indicator for a future business strategy. Through legal regulations and international accounting standards, supervisory authorities are focused on the TR level and their mobility in order to respond to the user’s requests at any time. A COMPARATIVE ANALYSIS OF OUTSTANDING CLAIM RESERVES","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"164 1","pages":"211-226"},"PeriodicalIF":0.0,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77256275","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 Anatomy of Pension Fraud in Nigeria: Its Motives, the Management and Future of the Nigerian Pension Scheme","authors":"A. E. Agbata, C. Ekwueme, E. Jeroh","doi":"10.5937/ekonhor1703179a","DOIUrl":"https://doi.org/10.5937/ekonhor1703179a","url":null,"abstract":"The development of a viable and workable pension scheme in Nigeria has always been clamored not only by pensioners, but also by notable stakeholders and the general populace. This is the reason why the Government of Nigeria decided to adopt the structure of the Chilean-Styled Pension Scheme as a way of dealing with the challenges posed by the previously adopted defined benefit scheme. According to Y. Demola (2008), this decision of the Federal Government of Nigeria has changed the funding structure of the pension scheme in the country from the usual Pay-As-You-Go (PAYG) to the Contributory Pension Scheme (CPS). THE ANATOMY OF PENSION FRAUD IN NIGERIA: ITS MOTIVES, THE MANAGEMENT AND FUTURE OF THE NIGERIAN PENSION SCHEME","PeriodicalId":52337,"journal":{"name":"Economic Horizons","volume":"65 1","pages":"179-191"},"PeriodicalIF":0.0,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82237378","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}