Ekonomski Pregled最新文献

{"title":"The terminology and the concept of the gig economy","authors":"Ivona Huđek, Karin Širec","doi":"10.32910/ep.74.1.2","DOIUrl":"https://doi.org/10.32910/ep.74.1.2","url":null,"abstract":"New business models have emerged in the late 20th century due to Internet technology (IT) development and digital transformation. One of them - known as the gig economy - represents a new business concept that stands for a market system in which individuals offer their services on a fixed-time basis to other businesses through a digital platform. The purpose of this paper is to explore the relatively new field of the gig economy and its context based on previous findings and literature. Accordingly, the concept of the gig economy is based on a triangular relationship between the individual (worker; provider), the digital intermediary of the process (online labour platform) and the end-user of the service (employer). Such a concept implies various benefits for all parties involved but also brings many challenges. The paper aims to provide a descriptive insight into the literature and findings and introduce terminology related to the gig economy concept. It also aims to discuss the nature of work within the gig economy, its current dimensions, its value creation for firms and entrepreneurship, and the issues that need to be addressed for the gig workforce and its likely future policy implications. The paper's limitations are the lack of agreement on standard definitions and national and international frameworks of the gig economy workforce, even though studies suggest that gig workers are among the fastest-growing forces in contemporary work arrangements. Therefore, the paper encourages the development of policies and programs to identify the specifics, benefits, and challenges of the gig economy and its impact on society in order to facilitate and promote this new, growing entrepreneurial category.","PeriodicalId":53985,"journal":{"name":"Ekonomski Pregled","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69446119","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 impact of working capital management on the profitability of firms in selected industries in the Republic of Croatia","authors":"Dina Korent, S. Orsag","doi":"10.32910/ep.74.1.5","DOIUrl":"https://doi.org/10.32910/ep.74.1.5","url":null,"abstract":"The aim of the paper is to detect the impact of working capital management (WCM) on the profitability of Croatian firms which belong to manufacturing, trade, and information and communication industries. The time frame of interest is from 2008 to 2015, and the final sample consists of 19.355 firms, i.e. 116.002 firm-year observations. The data sources are the databases of the Financial Agency and Croatian Bureau of Statistics. In order to test research hypothesis, among other methods, panel regression analysis is used. The study results show that, after controlling for firm characteristics and macroeconomic conditions, aggressive WCM has a significantly positive effect on the profitability of small firms from selected industries and for medium-sized manufacturing firms. Moreover, the results imply the existence of a significantly convex quadratic dependence and overall downward trend, marked by the increasing marginal returns of profitability with the extension of working capital cycles. The latter indicates that a more aggressive strategy significantly increases the profitability of firms at increasing rate. In other words, the managers of those firms should strive to shorten the working capital cycles in order to increase profitability. The limitations of the research are: the impossibility of spatial and temporal generalization of identified results, limited possibility of explaining identified directions and the significance of the influence of observed indicators of variables, as well as detection of reasons for agreement or contradiction with previous research results, unavailability of certain data, and omission of potentially significant variables and/or their alternative indicators. Scientific contribution can be summarized as follows: a comprehensive and systematic review of previous research; in addition to dominant linear impact testing, testing of nonlinear quadratic relation between the observed variables, which, is beginning to appear in the relevant literature and, accordingly, is generally poorly represented in all the previous studies, and has not been conducted in the Republic of Croatia; respectable spatial and temporal coverage; the expansion of coverage from listed and large firms to private firms and small and medium-sized firms.","PeriodicalId":53985,"journal":{"name":"Ekonomski Pregled","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69446307","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":"Consumer habits of domestic tourists in Croatia","authors":"D. Lončarić, Marina Perišić Prodan, Jasmina Dlačić","doi":"10.32910/ep.74.2.1","DOIUrl":"https://doi.org/10.32910/ep.74.2.1","url":null,"abstract":"Gospodarstvo Republike Hrvatske uvelike ovisi o turizmu. Aktualna kriza na globalnom turističkom tržištu izazvana pandemijom Covid-19 ukazala je na značaj domaćeg tržišta za opstanak turizma i hrvatskog gospodarstva u cjelini. Stoga je svrha ovoga rada utvrditi potrošačke navike domaćih turista s naglaskom na obilježja putovanja, motivaciju i namjere ponašanja te sukreiranje turističkog iskustva, kako bi se bolje spoznali obrasci njihova ponašanja. Rad se temelji na empirijskom istraživanju provedenom na uzorku domaćih turista. Utvrđeno je da većina samostalno organizira svoje putovanje, te da im je najvažniji izvor informacija internet. Najčešći razlozi za odlazak na putovanje su odmor i relaksacija, zabava i nova iskustva. Primjenom klaster analize identificirana su tri segmenta domaćih turista (Mladi, Parovi i Obitelji s djecom), te su utvrđene razlike među njima u pogledu obilježja putovanja, motivacije za putovanje, namjera ponašanja, razine uključenosti turista u pripremu putovanja i stupnja sukreiranja turističkog iskustva. Rad doprinosi razumijevanju motiva i obrazaca ponašanja domaćih turista, a rezultati istraživanja mogu poslužiti marketinškim menadžerima u putničkim agencijama i turističkim destinacijama kako bi bolje odgovorili na zahtjeve domaćih turista.","PeriodicalId":53985,"journal":{"name":"Ekonomski Pregled","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69446350","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":"Investing Based on Agricultural Structured Products","authors":"Monika Timková, Martina Bobriková","doi":"10.32910/ep.74.3.6","DOIUrl":"https://doi.org/10.32910/ep.74.3.6","url":null,"abstract":"The paper deals with investing in agriculture based on structured products, which gains an important position in international investment for both institutional and retail investors. The aim of the paper is to present the proposal of two new types of investment certificates, i.e. Twin-Win Outperformance certificates and Capped Twin-Win Outperformance certificates, which belong to the segment of partially guaranteed investment tools due to a security buffer. The advantage the proposed certificates lies in the combination of the features of two certificates into one product. The certificates are described in an analytical form of the profit functions which are derived based on two components, i.e. the underlying asset and the derivative (used European call options and down and knock-out put barrier options) on its underlying asset. The pricing formulas are developed with a specification of the issue price sensitivity on changes in different input parameters. Opportunities to invest in these proposed certificates are being demonstrated in the agricultural market, i.e. Teucrium Corn Fund ETF, where various variants of these certificates are created based on different level of included parameters. The best results are performed with the objective to increasing of the intellectualization of all potential investors in investing to agriculture using corn futures.","PeriodicalId":53985,"journal":{"name":"Ekonomski Pregled","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69446128","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":"Povezanost ekonomskog rasta, javnog duga i prinosa na dugoročne obveznice","authors":"Marin Levaj","doi":"10.32910/ep.74.4.2","DOIUrl":"https://doi.org/10.32910/ep.74.4.2","url":null,"abstract":"Pitanje održivosti javnog duga i njegovog potencijalnog utjecaja na ekonomski rast u budućnosti postaje sve važnije u kontekstu recesije izazvane pandemijom COVID-19 i snažnog rasta javnog duga koji je uslijedio u članicama Europske unije, uključujući i Hrvatsku. Cilj ovog rada je ispitati povezanost između javnog duga i stope rasta BDP-a, te njihov utjecaj na cijenu zaduživanja države. U radu se pomoću panel vektorskog autoregresijskog modela ispituje povezanost između varijabli stope rasta BDP-a, razine javnog duga u postotku BDP-a i cijene zaduživanja države (prinosa na desetogodišnje državne obveznice) u devet zemalja Nove Europe, nakon čega se procjenjuje VAR model s istim varijablama za Hrvatsku kako bi se ispitalo postoje li razlike u odnosu varijabli u Hrvatskoj. Rezultati procijenjenih modela ukazuju da stopa rasta BDP-a ima značajan negativan utjecaj na javni dug te da negativno utječe na dugoročne prinose na državne obveznice. S druge strane, javni dug nema značajan utjecaj na stopu rasta BDP-a u kratkom roku u osnovnom panel modelu i VAR modelu za Hrvatsku. Ipak, taj nalaz nije robustan jer u drugačijoj specifikaciji javni dug pozitivno utječe na stopu rasta BDP-a. Implikacija toga da rast javnog duga nema utjecaj na ekonomski rast ili da pozitivno utječe u kratkom roku je da snažan rast javnog duga zbog pandemije ne mora nužno negativno utjecati na stope ekonomskog rasta nakon izlaska iz recesije, ako ne dođe do normalizacije monetarne politike u kratkom roku. Stoga porast javnog duga uslijed recesije uzrokovane pandemijom nije problem za ekonomski rast u kratkom roku, no u srednjem je potrebno spustiti razinu javnog duga u BDP-u kako bi se Hrvatska lakše nosila s mogućim podizanjem kamatnih stopa od strane ECB-a u budućnosti i kako bi imala fiskalnog prostora za reakciju na sljedeću recesiju.","PeriodicalId":53985,"journal":{"name":"Ekonomski Pregled","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69446150","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":"Developments in the Field of Innovations in China and Chinese Exports","authors":"Z. Kittová, Barbora Družbacká","doi":"10.32910/ep.74.1.3","DOIUrl":"https://doi.org/10.32910/ep.74.1.3","url":null,"abstract":"The aim of the paper is to examine whether efforts aimed at expanding Chinese innovations are reflected by changes in Chinese exports. To achieve the aim the combination of both qualitative and quantitative approach was used incorporating linear regression analysis. The results show that China has firmly established itself as one of the leaders in innovations, as expressed in terms of patent applications, as well as of research and development expenditure. Although this achievement has not been accompanied by unambiguously positive development in the export share of high-tech products, the share of domestic value added in Chinese exports has been increasing continuously since 2010. With positive annual increase in the number of patent applications by residents per million inhabitants as well as in the research and development expenditure (as a percentage of gross domestic product), a positive annual increase in the domestic value added share in gross export may be expected with two years lag. These results indicate that China’s innovation-driven development strategy has positive impact on increasing the domestic value added in export, thus improving the competitive position of China on global markets. Even though several studies may be found showing that innovation had a positive impact on export performance at the level of companies in China, this study contributes to the existing literature by providing country level data analysis considering the origin of exported value added. When interpreting results of this study, certain limitations should be borne in mind. First, as the value of Chinese innovations may be challenged, patent applications as a measure of innovation could overestimate China's innovation capability. Second, only a limited number of observations including time series from 2005 to 2016 was available for the quantitative analysis, with respect to the used trade in valued added indicator. These limitations could be addressed in future research.","PeriodicalId":53985,"journal":{"name":"Ekonomski Pregled","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69446191","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":"Regionalna ekonomska transformacija","authors":"Nataša Drvenkar, Katarina Marošević, Ivana Unukić","doi":"10.32910/ep.74.3.2","DOIUrl":"https://doi.org/10.32910/ep.74.3.2","url":null,"abstract":"Modern economies and their smaller units – regions, regardless of their development level, witness significant inequalities. European regions differ significantly in their economic structure, history, available workforce skills, technological profiles, institutional and managerial capacities, and many other aspects. Most Central and Eastern European Countries (CEECs) are not an exception. Specifically, differences exist between national economies and between NUTS 3 regions within national economies, with some regions lagging behind. The inequality problem is addressed by the EU's Cohesion Policy in the CEECs, keeping in mind that CEECs are less developed than the average of the EU28 (27). Through its Cohesion Policy, the EU is seeking to reduce economic disparities between regions. An important issue is to create region-specific policies to foster regional growth. Therefore, Cohesion Policy instruments should be used in Central and Eastern European countries to tackle regional divergences and assist them in balancing their regional development as they formulate sectoral policies. Many analysts argue that the higher the movement towards a post-industrial (information, service) society, the more outdated the growth, production, and productivity inherited from industrial capitalism will be. Technological innovation has always been a crucial driver of progress, but over the last 50 years, its pace and significance have been growing. Technologically leading regions have long embraced innovation and are forging ahead, whereas lagging regions require a complete transformation of their economic (industrial) structure. Therefore, this paper aims to analyze Cohesion Policy in the CEECs by analyzing the relationship between GDP per capita and spending of EU funds. Moreover, the aim is to investigate the importance of vertical and horizontal industry policy in CEECs. To do that, the paper analyzes the total output growth and inter (intra) industry exchanges of Central and Eastern European countries (CEECs). More specifically, an analysis of the changes in intra-industry trade (two-way trade) is performed, which shows how far bilateral imports and exports match within sectors. The paper reviews current theoretical knowledge and empirical research on the importance of the regional dimension of industrial policy, respecting the paradigm of innovative sustainability. The main methods used in the paper comprise a comparative analysis based on earlier theoretical and empirical studies in the field of regional economic development, as well as an analysis of industrial performance.","PeriodicalId":53985,"journal":{"name":"Ekonomski Pregled","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69446017","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":"Efficiency of the priority funding approach for the most successful olympic sports in Croatia from 2001 to 2016","authors":"Evica Obadić, Sanela Škorić","doi":"10.32910/ep.74.3.4","DOIUrl":"https://doi.org/10.32910/ep.74.3.4","url":null,"abstract":"Rad istražuje je li Hrvatski olimpijski odbor u razdoblju od 2001. do 2016. godine imao prioritetni pristup kod raspodjele sportskog proračuna na sportove, te je li on bio efikasan koristeći prilagođeni sistemski model. Istraživanjem su obuhvaćeni sportaši iz 33 ljetna olimpijska sporta (24 individualna i 9 ekipnih sportova) čije su sportske aktivnosti i nastupi u promatranom razdoblju financirani iz sredstava Hrvatskog olimpijskog odbora. Rezultati istraživanja pokazuju da je Hrvatski olimpijski odbor imao prioritetni pristup raspodjele sportskog proračuna i da su resursi usmjeravani u osam najuspješnijih sportova, s rijetkim izuzecima. Najveća efikasnost utvrđena je kod individualnih sportova koji imaju više disciplina i u kojima je moguće osvojiti veći broj medalja, dok je slaba efikasnost utvrđena kod ekipnih sportova.","PeriodicalId":53985,"journal":{"name":"Ekonomski Pregled","volume":"36 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69446057","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":"Asymmetrical effects of real effective exchange rate of kuna on foreign trade balance in Republic of Croatia","authors":"Filip Novinc","doi":"10.32910/ep.74.4.4","DOIUrl":"https://doi.org/10.32910/ep.74.4.4","url":null,"abstract":"Ovaj rad nastoji odgovoriti na pitanje postoji li asimetričan učinak realnog efektivnog deviznog tečaja kune na vanjskotrgovinsku bilancu, J–krivulja i Marshall–Lernerov uvjet u Republici Hrvatskoj. Rigidnost cijena, ograničenja kapaciteta i troškovi prilagođavanja samo su neki od razloga zbog kojih deprecijacija i aprecijacija realnog efektivnog deviznog tečaja nemaju nužno jednako snažan učinak suprotnog smjera na neto izvoz. Ekonometrijska procjena nelinearnom metodom autoregresivnih distribuiranih pomaka (NARDL) omogućava razdvajanje pozitivnih (aprecijacija) od negativnih (deprecijacija) promjena realnog efektivnog deviznog tečaja, te pokazuje kako promjene istoga ne djeluju simetrično i linearno na neto izvoz. Potvrđuje se postojanje J–krivulje i pozitivan utjecaj deprecijacije realnog efektivnog deviznog tečaja na neto izvoz dobara, odnosno dobara i usluga (Marshall–Lernerov uvjet), dok aprecijacija nema statistički značajan utjecaj. Rezultati dobiveni u ovom radu upućuju na zaključak kako se vanjskotrgovinski saldo Hrvatske može poboljšati deprecijacijom realnog efektivnog deviznog tečaja. Ipak, navedeno treba uzeti s rezervom uzimajući u obzir da nominalna deprecijacija vodi rastu vanjske zaduženosti domaće ekonomije, utječe na očekivanja (pogotovo ona vezana uz inflaciju), na uvozne cijene (time i na domaće cijene), premiju rizika, prinose na financijsku imovinu, a postoje naznake da deprecijacija nominalnog i realnog tečaja u Hrvatskoj djeluju kontrakcijski na domaću ekonomsku aktivnost, stoga troškovi takve politike mogu znatno premašiti koristi dobivene slabljenjem valute. Osim navedenog, ograničenja istraživanja uključuju nisku varijabilnost realnog efektivnog deviznog tečaja koja može otežati dobivanje ekonometrijski relevantnih procjena, problem izbora reprezentativne mjere tečaja, te izbor aproksimirajuće varijable za domaći i strani dohodak. U promatranom periodu su aprecijacije i deprecijacije realnog efektivnog deviznog tečaja tečaja bile relativno blage, stoga zaključci ne vrijede nužno u slučaju naglih i velikih fluktuacija. U odnosu na prethodna istraživanja, potvrđuje se asimetričan učinak realnog efektivnog deviznog tečaja na bilancu roba i usluga, a ne samo roba, te se raspravlja o mogućim uzrocima pojave nelinearnosti u odgovoru vanjskotrgovinske bilance na promjene u istom.","PeriodicalId":53985,"journal":{"name":"Ekonomski Pregled","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69446273","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":"Utječe li kvaliteta revizije na uspješnost poduzeća?","authors":"Malik Abu Afifa, Isam Hamad Saleh","doi":"10.32910/ep.74.2.2","DOIUrl":"https://doi.org/10.32910/ep.74.2.2","url":null,"abstract":"The purpose of this research is to look into the impact of audit quality on company performance. It offers empirical evidence from the Jordanian market, which is considered an emerging market. In this study, audit quality is proxied by auditor tenure, auditor industry specialization, and auditor firm size, while company performance is proxied by ROA, ROE, and EPS. A panel data analysis of all Jordanian industrial public shareholding companies listed on the Amman Stock Exchange during the timeframe (2012 to 2017) is used in this study. The primary findings are that auditor tenure has a negative influence on ROA, but auditor industry specialization and auditor firm size have no influence on ROA. Auditor firm size has a positive influence on both ROE and EPS, but auditor tenure and auditor industry specialization have a non-significant negative influence on both ROE and EPS. According to these results, companies in emerging markets should be encouraged to overcome the barriers that limit the link between audit quality and company performance. The study also suggests more research on the impact of audit quality on information asymmetry and earnings management. Future study might potentially identify characteristics that influence audit quality, particularly in emerging countries (such as MENA countries), where there has been little effort to explore the level of audit quality and its relationship with other factors.","PeriodicalId":53985,"journal":{"name":"Ekonomski Pregled","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69446395","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}