Pogostost izhajanja: 4 številke letno Odgovorna urednica: Darja Boršič Revija Naše gospodarstvo/Our Economy objavlja visokokakovostne izvirne in pregledne znanstvene članke o aktualnih temah iz ekonomije in poslovnih ved. Namen revije je nadgraditi obstoječe teoretične in empirične raziskave s področja ekonomije in poslovanja s sodobnimi teoretičnimi pogledi in spoznanji, ki temeljijo na celovitih raziskovalnih podlagah. Objavljeni članki prispevajo k boljšemu razumevanju številnih aktualnih izzivov v ekonomiji in poslovanju ter so zanimivi za raziskovalce, oblikovalce politik in strokovnjake. Indeksiranje: EconLit, ERIH PLUS, DOAJ, EBSCO, Ulrich's in druge baze. Licenca: CC BY
Bank Guarantee as a Means of Securing Contract Performance under the Law of the Republic of Serbia
Bank guarantees are the most widely used instrument to secure contract performance in commercial law, both nationally and internationally. They are commonly employed in sales contracts and during the execution of foreign investment projects. Establishing a bank guarantee is prompt and effective falling under neutral banking operations. As the number of business entities has grown significantly, there has been a corresponding increase in commercial contracts requiring secured performance. Despite the advantages of swift transactions at both levels, business entities face economic and legal risks that drive them to secure contracts most effectively to protect their interests and achieve their business goals. In this context, the bank is essential in fostering successful business collaborations. Given the importance and complex nature of bank guarantees in today’s legal transactions, this paper examines current issues and challenges related to the key aspects of bank guarantees as a means to secure contract performance, including their efficiency and speed in enforcement, along with their advantages and disadvantages, with particular reference to judicial decisions and electronic bank guarantees in light of innovative technologies. It reviews existing statutory provisions and provides a comparative analysis across various levels. The paper focuses on eliminating uncertainties surrounding the bank guarantee institution to promote more secure business practices.
Avtorske pravice (c) 2025 Tanja Varađanin, Marko Stanković, Nenad Stefanović https://creativecommons.org/licenses/by-nc-nd/4.0
Assessing the Impact of Point-of-Sale Beer Brand Ads Through Consumer Neuroscience Research
This study employs EEG and eye-tracking to assess how brand equity, creative complexity, and spatial layout influence implicit consumer responses to point-of-sale (POS) beer advertisements. Through the theoretical lens of predictive coding and processing fluency, laboratory testing with Serbian beer consumers (N = 20) revealed that simpler designs yielded superior attention performance across TFD and TTFF (d up to 2.62), independent of brand strength. Spatial repositioning reduced packshot detection time by 0.89s (p<0.001, d=1.78) in horizontal versus vertical layouts. EEG showed no significant brand differences (valence d=0.07, p=0.765), offering a theoretical interpretation consistent with predictive coding, wherein expected stimuli elicit reduced neural activation, with brand strength operating solely through attentional pathways. Eye-tracking revealed strong brands' automatic attentional capture of iconic elements (e.g., letter 'J'; TTFF=0.47s), theoretically reconciled via processing fluency as effortless decoding. We derive actionable POS benchmarks: packshot detection < 0.5s, slogan engagement > 1.0s, emotional valence > 5.0, cognitive load < 5.0. This advances GDPR/NDA-compliant methodology while offering practical guidelines grounded in neurocognitive theory.
Avtorske pravice (c) 2025 Darko Lukić, Slađana Starčević, Goran Pitić https://creativecommons.org/licenses/by-nc-nd/4.0
The Influence of Visual Elements of Social Media on the Behavior of Generation Z Tourists
In today's online world, where all information is available to users with just one click, it is challenging to determine their credibility. Given the fact that there are almost 5 billion social media users, it is safe to say that social media has become an essential part of everyday life for many users, especially members of Generation Z. When filtering the pool of information, visual elements play a significant role in the decision-making process for users. Generation Z is composed of young people born between 1995 and 2005. They are considered the originators of social media and the virtual world, and spend the most time analysing content in the form of photographs or videos. The main reason why Generation Z members prioritise visual elements more than textual ones stems from the higher degree of reliability and trust that this type of content displays. To analyse how photos and videos influence the trust of members of Generation Z in online recommendations, a survey was conducted in the territory of the Republic of Serbia, in which the Pearson correlation test was applied. The research lasted from February to March 2024. Moreover, a study was conducted on a sample of 305 respondents, where the sample was convenience, and the obtained data were tested using the IBM SPSS Statistics platform. The main findings indicate how visual elements of social media, such as photos and videos, influence a greater degree of trust in credibility among Generation Z.
Avtorske pravice (c) 2025 Dražen Marić, Ksenija Leković, Sanja Džever, Dunja Kostić, Aleksandar Vasiljević https://creativecommons.org/licenses/by-nc-nd/4.0
Relationship between Employer Branding, CSR and Social Media Communication
This research aims to examine whether employer branding (EB) activities are related to the ranking of the Most Desirable Employer in Bosnia and Herzegovina (BiH), and to explore the correlation between EB, corporate social responsibility (CSR), and organisational representation on social media. The research was conducted among employees of 15 organisations ranked as the Most Desirable Employers, potential employees, and final-year university students from various academic fields. While in developed countries, specialised companies focus on talent attraction and recruitment as part of EB strategies, employers in BiH have yet to reach that level of long-term workforce planning and fully recognise the strategic benefits EB can offer. The findings indicate that EB significantly influences employer’s desirability among current and potential employees, and that organisations perceived as socially responsible tend to enjoy a stronger employer brand and are considered more desirable. Moreover, the analysis revealed no significant differences in the perception of the relationship between socially responsible business practices and organisational representation on social media between current and potential employees. The study’s key contributions include the finding that EB correlates positively with employer desirability; and that the impact of perceived dimensions of EB attractiveness is evident from the perspectives of both current and potential employees.
Avtorske pravice (c) 2025 Ilarija Bašić, Nino Ćorić, Nenad Brkić https://creativecommons.org/licenses/by-nc-nd/4.0
Artificial Intelligence in ERP Quality Management Modules: A Comparative Analysis of SAP and Infor
Enterprise Resource Planning (ERP) systems are widely recognised as strategic enablers of digital transformation, integrating core business functions and supporting operational efficiency. Quality Management (QM) is a pivotal component of their curriculum, critical in ensuring compliance, sustaining competitiveness, and driving continuous improvement. Recent advancements in artificial intelligence (AI) have further augmented the potential of ERP systems by facilitating predictive analytics, anomaly detection, and intelligent process automation. However, the integration of AI into ERP-based QM has not yet been systematically examined in academic research. The present article addresses this gap by comparing two leading ERP vendors, SAP and Infor, focusing on their AI-enabled QM modules. The study utilises academic literature, industry reports, and vendor documentation to demonstrate that SAP emphasises horizontal breadth and positions its QM functionalities as part of a global digital core. Concurrently, Infor prioritises vertical specialisation, customising its QM functionalities to meet the distinct needs of specific industries and augmenting them with advancements in AI and generative AI. The findings contribute to theory and practice by demonstrating how ERP vendors differentiate their approaches to AI integration in QM. The present study contributes to the extant literature on ERP and Total Quality Management (TQM) by extending the current body of knowledge in this area. It highlights the strategic role of AI in shaping ERP value creation. It provides managerial guidance for organisations evaluating ERP systems in the context of quality assurance, sustainability, and digital transformation.
Avtorske pravice (c) 2025 Staš Heric, Samo Bobek, Simona Sternad Zabukovšek https://creativecommons.org/licenses/by-nc-nd/4.0
Comparative Study on Job Security and Stability among German and Spanish Workers and Their Ability to Work from Home
This research article analyses the situation in the labour markets in Germany and Spain using a comparative study to identify differences in job security and stability and the possibility of working from home. The study is based on data from statistical sources provided by Eurofound (2024) with a sample of 907 employees in Germany and Spain. A binary logistic regression was performed, where the dependent variable was the binary variable country (Germany and Spain) and the independent variables are related to job security and stability (job loss, employment opportunities, recognition, performance expectations, employment contract). In addition, a Chi-square independence test was performed to determine the difference between countries regarding working conditions and teleworking. The analysis in this study reveals a clear difference between the labour markets in Spain and Germany. German workers are in a significantly more favourable position than Spanish workers. For this reason, Germany must continue to improve the quality of its labour market to ensure the sustainability of employment.
Avtorske pravice (c) 2025 Andreas Huth https://creativecommons.org/licenses/by-nc-nd/4.0
Adoption of Social Media for Products Marketing in Algerian Traditional and Handicraft Firms: Evidence from Setif Province
Social media provides opportunities for traditional and handicraft industries to promote products and stimulate sales. Therefore, this study investigates the extent of social media adoption for product marketing among a sample of Algerian traditional and handicraft industries. For that, a questionnaire was administered to 123 randomly selected industries in Setif province. The results revealed moderate social media use for product marketing, along with low awareness of its benefits. The level of usage is strongly associated with awareness but was negligibly affected by age. Experience with social media did not predict usage for marketing. The findings suggest that this sector can further capitalise on social media by increasing managers’ awareness of its advantages and developing strategies to enhance its adoption. Further research should identify specific actions that traditional and handicraft firms can take to fully leverage social media for product promotion and sales growth.
Avtorske pravice (c) 2025 Ilyes Charchafa, Bilal Kimouche https://creativecommons.org/licenses/by-nc-nd/4.0
Inflation, Inflation Uncertainty and Economic Growth in Tunisia: Nonlinear Modelling Framework
Inflation uncertainty is a critical factor influencing not only the market mechanisms but also the economic activity efficiency. In this paper, we investigated the relationship between inflation and growth to capture the impact of inflation uncertainty in Tunisia. The study relied on a dataset covering the period 1984.01-2018.08 and was characterized by a nonlinear specification. We used Hansen’s (2001) Threshold Regression (TR) analysis to determine one threshold effect of inflation on growth while explaining the role of inflation uncertainty in the whole process. This study concluded that an optimal inflation rate does exist. Under this rate, a little rise in inflation may enhance economic growth, allowing an adverse impact of inflation uncertainty. Above the critical threshold of 3%, it was revealed that inflation and inflation uncertainty play opposite roles: while the former harms growth, the latter benefits it. Thus, we cannot sustain the Friedman-Ball hypothesis for the two regimes. To the best of the authors’ knowledge, this is the first study that aimed to investigate the simultaneous effects of inflation and inflation uncertainty on growth in Tunisia using a non-linear methodology. This study aims to fulfil the knowledge gap of such studies for developing countries.
Avtorske pravice (c) 2025 Thouraya Boujelbène, Khoutem Ben Jedidia https://creativecommons.org/licenses/by-nc-nd/4.0
Perspectives on Corporate Governance in State-Owned Enterprises: Evidence from Bosnia and Herzegovina, Croatia and Serbia
This paper examines the key aspects of corporate governance of state-owned enterprises (SOEs) through a comparative survey conducted in Bosnia and Herzegovina, Croatia, and Serbia. The research explores two distinct perspectives: the state's view on the necessity and governance of SOEs, and the perspective of SOE boards on operational and strategic challenges. From the state’s perspective, the survey addresses issues such as the protection of national economic interests, state ownership in key industries, equitable service provision, and the reinvestment of SOE profits into public projects. Findings suggest a strong alignment among respondents across all three countries, supporting the idea that state ownership ensures economic sovereignty and guarantees fair access to essential services. On the other hand, the board perspective highlights concern about the bureaucratic barriers faced by SOEs, the influence of political interference on financial performance, and the limitations of public ownership in enhancing global competitiveness. Board respondents expressed the need for greater autonomy in decision-making and stressed the importance of partnerships with the private sector to optimise SOE efficiency and market position. The article synthesises these findings to address the broader question: Are SOEs essential in modern economies, or do they require reform to meet contemporary challenges? The results indicate that while SOEs hold strategic importance, reforms focused on reducing bureaucracy, enhancing governance, and promoting public-private partnerships are crucial for their future viability.
Avtorske pravice (c) 2025 Emir Sudžuka, Dženan Kulović, Domagoj Hruška, Jelena Nikolić https://creativecommons.org/licenses/by-nc-nd/4.0
Establishing a Digital Participation Bank in North Macedonia: Opportunities and Challenges in Interest-Free Finance
This paper aims to explore the feasibility of establishing a digital participation bank in North Macedonia based on the principles of interest-free finance. This system has been part of ethical and equitable financial systems in the major Abrahamic religions. Thus, as interest-free finance becomes more popular worldwide, digital banking presents a new approach to incorporating these principles into the Macedonian banking system. Here, the purpose of the paper is to discuss the applicability of establishing a digital participation bank in North Macedonia based on interest-free finance principles, by drawing on global best practices. In that sense, this paper provides an analysis of the interest–free finance and intends to describe the banking environment in North Macedonia and the necessary regulatory and market changes. Furthermore, it offers recommendations for integrating ethical, interest-free finance into the Macedonian digital banking sector. Findings indicate that the country has strong potential, due to its diverse population, growing SMEs sector and demand for ethical financial services, but at the core, significant legal and institutional changes are required. Finally, the paper concludes with the opportunities that digital interest-free finance has in financial inclusion, investment attractiveness, and integration with the digital transformation strategy; while detected challenges refer to regulatory changes, consumer and institutional education.
Avtorske pravice (c) 2025 Ahmet Lokce, Andrijana Bojadzievska Danevska https://creativecommons.org/licenses/by-nc-nd/4.0
Analysis of the Citizen’s Attitudes About the Economic Measures to Eliminate the Consequences of the COVID-19 Pandemic in the Republic of Serbia
The pandemic caused by the COVID-19 virus has led to negative economic consequences in all countries. The COVID-19 pandemic created problems in the functioning of the economy, and economic state measures were necessary to reduce the negative impact of the pandemic. Every country in the world has tried to find the best economic measures to help its citizens overcome the negative effects of the pandemic as easily as possible. After 5 years since the pandemic began, the real effects of these state measures, which were also implemented by the Government of the Republic of Serbia, can now be seen much more objectively, which is analysed in this paper. The primary objective of this paper is to evaluate citizens' opinions on the effectiveness of the state economic measures implemented by the Government of the Republic of Serbia to mitigate the impact of pandemics on both citizens' lives and companies' operations.
Avtorske pravice (c) 2025 Dragomir Dimitrijević, Milan Kostić, Marija Radulović https://creativecommons.org/licenses/by-nc-nd/4.0
(De)Globalisation and the New Industrial Policy
The processes of economic and political cooperation since the Second World War have stimulated economic growth and improved living standards and prosperity, while intensified economic integration and contributed to a better response to global challenges. Following the 2008 global financial crisis, there is a trend towards deglobalisation or slowbalisation. The article provides a comprehensive literature review and examines data sources on the situation and trends related to the globalisation of the world economy and the rise of industrial policy measures in advanced economies. It was found that the world economy is facing several challenges, including the reshaping of global supply chains, mitigating the effects of economic inequality and climate change, and the rise of economic populism and nationalism. This article consequently provides a comprehensive overview of the literature on globalisation and industrial policy, examining the interplay between deglobalisation processes and industrial policy measures and their increasing prominence in advanced economies.
Avtorske pravice (c) 2025 Peter Vuk https://creativecommons.org/licenses/by-nc-nd/4.0
Assessing the Impact of Accounting Perceptions on Accounting Major Choice Based on Students' Personal Characteristics
In the paper, the impact of selected popular perceptions about accounting and the accounting major on the accounting major choice was assessed for the sample of undergraduate business school freshmen. Rather than observing differences between accounting majors' and non-accounting majors' perceptions themselves, a novel approach was used, focused on the observation of differences between accounting majors' and non-accounting majors' personal characteristics, deemed as relevant for their fit with selected popular accounting perceptions. Regression coefficients obtained from regressing these personal characteristics on the accounting major choice variable were used as evidence for the impact of observed accounting perceptions on accounting major choice. Results suggest an important impact of some of the popular accounting perceptions on students' decision whether to major in accounting or not.
Avtorske pravice (c) 2025 Robert Horvat, Nika Pučko https://creativecommons.org/licenses/by-nc-nd/4.0
Neobanks’ Footprint on the Transformative Path of the Austrian and the Slovenian Banking Market
The digital transformation in banking, which is supported by the European regulatory framework, has enabled new business models for banking. One example of these changes is the emergence of neobanks. We examine the presence of neobanks in two national markets, Austria and Slovenia. Despite the geographical proximity and rich history of banking integration between the two markets, our findings reveal significant differences in this perspective between the two markets. In the analytical part, we use available indirect and descriptive data. We have identified two historical periods. In the first, domestic neobanks appeared. Unlike in Austria, where there is a rich history of domestic neobanks, there were none in Slovenia. In the second identified period, the most propulsive European neobanks are similarly active in both markets, which increases competition in the banking markets. In the future, the neobanks could contribute to the increase in the mobility of deposits outside the national banking markets.
Avtorske pravice (c) 2025 Christian Cech, Martin Wirth, Timotej Jagrič, Vita Jagrič https://creativecommons.org/licenses/by-nc-nd/4.0
Analysis of the Use of Social Media Components on Serbian Hotels' Websites
The research presented in this paper aims to determine to what extent hotels in Serbia use social media components on their websites. A total of 378 hotel websites in the Republic of Serbia were analysed. For each analysed hotel, the following attributes were observed: region, category, type, and size of the establishment, while the presence of valid links to social networks, the presence of a blog, Google Map, or a link to it, and the number of versions of the site in a foreign language were analysed on their websites. Descriptive statistics and the chi-square test were applied in data processing. The research has shown that hotels in Serbia insufficiently use social media components on their websites. These findings can be useful for hotels as they may indicate ways to improve their websites.
Avtorske pravice (c) 2025 Dragana Ćamilović, Snežana Konjikušić https://creativecommons.org/licenses/by-nc-nd/4.0
Opportunities and Challenges of Supply Chain Sustainability Reporting: The Case of Slovenian Multinational Manufacturing Companies
This article explores reporting on supply chain sustainability from the perspective of opportunities and challenges for multinational manufacturing companies, considering the evolved European Union (EU) regulations and the scope and complexity of international supply chains. In the theoretical part, we examine corporate sustainability reporting, focusing on EU regulatory framework, sustainability in international supply chain management, and reporting on supply chain sustainability. The empirical analysis is based on the secondary and primary data gathered from a non-random sample of Slovenian multinational manufacturing companies from B2B industry. The analysis shows that the companies discussed included information on supply chain sustainability in their sustainability reports; however, they weren't very well-prepared for the requirements of the new EU sustainability reporting directives. We found they perceived opportunities and challenges in supply chain sustainability reporting similarly. Our research findings have several implications for corporate sustainability management and national institutional business support.
Avtorske pravice (c) 2025 Sergeja Juhart, Romana Korez Vide https://creativecommons.org/licenses/by-nc-nd/4.0
Development of Slovenian Macroeconomic Imbalances and their Synchronization with EU Countries
Slovenia and other EU member states are subject to the Macroeconomic Imbalances Procedure. This article aims to evaluate the macroeconomic imbalances of the Slovenian economy and its synchronisation with other EU countries from 2013 to 2022. Eleven Scoreboard indicators are used to monitor external and internal macroeconomic imbalances. The originality of the paper relates to the use of cluster analysis to determine Slovenia's position among other EU countries in terms of imbalance indicators by dividing EU countries into clusters based on their similarity. The process used the standardized squared Euclidean distance as the basic metric, the furthest neighbour method was used to cluster the objects, which are represented graphically by a dendrogram. Slovenia exhibited relative stability in both external and internal macroeconomic imbalances between 2013 and 2022. However, in the last three years, it showed threshold values for the nominal unit labour cost index, general government gross debt, and there was a risk associated with the development of the house price index. The cluster analysis revealed that Slovenia's external macroeconomic imbalances were significantly synchronized with core EU countries in 2014 and 2022. In 2017 and 2020, macroeconomic imbalances exhibited similarities with the Baltic and Central European countries. The internal macroeconomic balance remained stable in the monitored period, and it developed in sync with the core EU countries and Central European countries.
Avtorske pravice (c) 2025 Vladimíra Hovorková Valentová, Pavla Bednářová https://creativecommons.org/licenses/by-nc-nd/4.0
Countries' Structural Characteristics and the Magnitude of Fiscal Shock
The transmission channels of stabilizing fiscal policy remain partially unexplored, which presents a challenge for the effective management of economic policy. Using a broad dataset and vector autoregression methodology, this paper examines the relationship between selected structural characteristics of economies and the magnitude of fiscal multipliers. The results indicate that fiscal multipliers tend to be smaller in more developed economies, in business-friendly environments, and in EU and EMU member states. Additionally, findings on public and private debt, as well as savings levels, suggest that fiscal multipliers are higher in countries where a larger share of economic agents faces liquidity constraints. Consequently, increased public spending, driven by households' higher marginal propensity to consume, produces a stronger impact on output through the multiplier effect. Our results provide a foundation for fiscal policymakers to design appropriate measures tailored to the specific characteristics of individual economies, aiming to enhance the effectiveness of stabilization policies. Consequently, fiscal stimulus can achieve a greater impact while ensuring the efficient allocation of taxpayer resources.
Avtorske pravice (c) 2025 Marko Senekovič https://creativecommons.org/licenses/by-nc-nd/4.0
Leveraging Communities of Practice to Cultivate Entrepreneurial Mindset: A Systematic Review and Practical Insights
This paper explores the role of Communities of Practice (CoPs) as a potential teaching tool to better promote an entrepreneurial mindset, particularly in the context of higher education. Through a systematic review of existing learning theories and the concept of CoPs, this paper identifies the challenges of entrepreneurial education and proposes changes in higher education that focus on creating entrepreneurial awareness, enhancing entrepreneurial competencies and developing students' entrepreneurial identity to foster an entrepreneurial mindset by supporting formal higher education with informal educational practices such as CoPs. The originality of this paper lies in the presentation of the alternative concept of Accountable Entrepreneurial Education. By combining theoretical insights with practical examples, this paper serves as a valuable resource for educators, researchers and practitioners in the field of entrepreneurship education.
Avtorske pravice (c) 2024 Ljerka Sedlan Kőnig https://creativecommons.org/licenses/by-nc-nd/4.0
Exogenous Variables and their Influence on Domestic Credit Provision in Nigeria: Evidence from Quantile Regression
The relevance of domestic credit to an economy has spurred interest in studies that seek to examine the factors that determine it. In this study, the focus is to evaluate the role of exogenous factors in influencing domestic credit provision in Nigeria. The study used a monthly dataset that covered the period from 2007M12 to 2024M5 under the framework of quantile regression. The findings of the study reveal that oil price had a positive and significant impact on domestic credit provision at all the quantiles, while world interest rate had a negative and significant impact on domestic credit provision at the 25th quintile. The exchange rate and bank reserves exerted a positive and significant impact on domestic credit provision at all the quantiles, while the impact of the Treasury bills rate was positive and significant only at the 25th and 50th quantiles. The study suggests that, in regulating credit provision in Nigeria, monetary authorities should closely monitor these exogenous variables as well as exchange rate movement.
Avtorske pravice (c) 2024 Sabina Veršič https://creativecommons.org/licenses/by-nc-nd/4.0
Assessing the Consequences of Natural Disasters on Sustainability in Rural Municipalities: Evidence from Loška Dolina
This study examines the impact of natural disasters on the sustainable development of the rural municipality of Loška Dolina, focusing on the 2014 ice storm and subsequent floods. Through semi-structured interviews with seven key stakeholders, including local government, civil protection, and affected individuals, the research analyzes the disasters' effects on the economic, social, and environmental pillars of sustainability. The ice storm damaged forests and infrastructure, while floods caused soil contamination and habitat disruption. Despite these challenges, the community showed resilience and increased climate awareness. The SWOT analysis highlights both opportunities in the timber industry and challenges in disaster preparedness. The study emphasizes integrating disaster risk reduction into sustainable development planning.
Avtorske pravice (c) 2024 Vito Bobek, Blanka Lipovac, Tatjana Horvat https://creativecommons.org/licenses/by-nc-nd/4.0
Pull Factors and Capital Inflows: Empirical Insights from Transformative Dynamics in Southeast Europe
This study seeks to examine pull factors of capital inflows, offering an empirical analysis based on a panel study of eleven Southeast European countries (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Greece, Montenegro, North Macedonia, Kosovo, Romania, Serbia, and Türkiye) over the period of 2004 – 2021. Methodologically, the study utilizes a fixed effects (FE) regression model with robust Driscoll-Kraay standard errors to address issues of heteroskedasticity, autocorrelation, and potential cross-country correlation. The study finds that several pull factors can be relevant in driving capital inflows as follows: market size, inflation, financial and trade openness. The empirical analysis confirms that the forces of trade liberalization, financial liberalization, market size, real interest rates and inflation stability are the elements that encourage capital inflows. On the other hand, the estimated effects of current account balance and real economic growth are not very convincing. Finally, we stress that more study is required to fully understand the pull variables' ultimate macroeconomic implications at the national level. The overall influence of these positive (or negative) inflows may be moderated by several characteristics, even if certain countries may be extremely susceptible to these factors.
Avtorske pravice (c) 2024 Mehmed Ganić, Nedim Gavranović https://creativecommons.org/licenses/by-nc-nd/4.0
Work-Related Factors Influencing Presenteeism in Croatia during COVID-19: A Logistic Regression Approach
This article analyses the work-related factors that impact the occurrence of presenteeism in Croatia during the COVID-19 pandemic. The main objective is to examine the connection between key variables and the prevalence of presenteeism among employees in Croatia. The study used logistic regression analysis to examine data from the 2021 European Working Condition Telephone Survey (EWCTS), encompassing a sample of 491 employees from Croatia. The study investigated work-related factors such as job demands, working hours, supervisory responsibilities, telework, and cooperation with coworkers. The analysis also takes into account demographic control variables, including age, gender, and educational level. The findings suggest that there is a significant relationship between work stressors and presenteeism. Employees who lack good collaboration with colleagues are more prone to attending work even when they are unwell. Age was also determined to be a significant factor. The study indicates that work-related factors have an impact on presenteeism in Croatia. To mitigate the adverse effects of presenteeism, firms should adopt strategies to enhance working conditions and foster a conducive work atmosphere. The results offer valuable perspectives for future research and practical strategies to reduce presenteeism and improve employee wellbeing.
Economic Inequality and the Size of Government Expenditure Shocks: An Empirical Exercise
Empirical literature explains the heterogeneity of fiscal multiplier estimates through the analysis of various cyclical and structural determinants of economies, with economic inequality, as one of the key structural characteristics, receiving relatively little attention so far. In this study, using a wide sample of countries and applying the vector autoregression methodology, we first estimated fiscal multipliers and the impact of fiscal stimuli on the dynamics of the price level. The findings indicate that the estimated fiscal multipliers are mostly positive, and fiscal stimuli tend to produce an inflationary effect. Subsequently, we examined the variability in the size of fiscal multipliers in relation to various indicators of income and wealth inequality. The key findings of this study reveal that as economic inequality increases, particularly in the context of income disparities, the size of fiscal multipliers also rises. This insight is particularly important for policymakers in designing appropriate fiscal measures in an evolving macroeconomic environment.
Avtorske pravice (c) 2024 Marko Senekovič https://creativecommons.org/licenses/by-nc-nd/4.0
Dimensions of Corporate Governance in Public Relations Literature: A Systematic Review
This article aims to uncover the dimensions or characteristics of corporate governance in the literature of public relations that are also related to communication. We employed a methodological approach based on a systematic review of scientific articles in the field of public relations using the PRISMA method, along with content analysis through axial coding, the use of the Atlas.ti tool, and meta-analysis. After reviewing two major online research databases, Science Direct and Emerald, we narrowed our search to Public Relations Review as the fundamental scientific journal in the field of public relations. We identified 19 communication dimensions of corporate governance, consolidating related concepts into ten. The originality of this research lies in identifying key communication dimensions of corporate governance as an institutional framework for public relations. The research results reinforce the significant role of communication even in the processes of institutionalizing corporate governance.
Avtorske pravice (c) 2024 Pedja Ašanin Gole https://creativecommons.org/licenses/by-nc-nd/4.0
Consumer Preferences and Reactions to Brand Expansion
Consumer purchasing power is one of the key determinants of consumer behavior, among other factors. Acceptance of new brands or product line extensions of existing brands is influenced by perceived value. New products can be added to existing product lines by introducing new products within them, or brands can expand horizontally by entering entirely new categories or product lines. Any vertical expansion, whether to a higher or lower level, comes after a price shift and a product quality achievement relative to its base product. While survey-based research provides valuable insights that support the growth of the Premium brand, building a strong relationship with customers, quickly identifying preferences, personalizing the offer and fostering a climate of trust remain its main sources of value. The purpose of the paper is to show the positive relationship that exists between the vertical growth of the brand and the increase in customer loyalty, as shown by the research conducted on a deliberate sample.
Customer response to premium brand vertical extension
Avtorske pravice (c) 2024 Dijana Vuković, Fani Kerum, Miroslava Žukina https://creativecommons.org/licenses/by-nc-nd/4.0
Analysis of Workers’ Perception and Demographic Factors - An Insight Into the Slovenian Gig Economy
This study examines the gig economy in Slovenia, with a particular emphasis on the perceived benefits and challenges for gig workers within this emerging labour model. The research aims to capture the implications of flexible, project-based employment in a smaller European context, as this trend becomes increasingly prevalent globally. A quantitative approach was employed to survey 34 gig workers in Slovenia. The survey analysed their demographic characteristics, reasons for engaging in gig work, and the benefits and challenges they experience. In the findings, 64% of respondents specifically identified schedule flexibility as a predominant benefit of gig work. However, it also uncovers substantial challenges, including increased market competition and a lack of social benefits. Moreover, the research suggests that perceptions of the gig work benefits are widely acknowledged across various age groups and educational levels, with no significant variation. Nevertheless, the findings indicate a gender disparity in gig work perceptions, with males perceiving higher levels of financial freedom and professional development than women. This research suggests the need for policies aimed at ensuring equity and further research into harmonizing gig work with supportive labour market policies.
Avtorske pravice (c) 2024 Matevž Antloga, Ivona Huđek https://creativecommons.org/licenses/by-nc-nd/4.0
Application of Digital Tools Assessing Information Risk in the Control Activity
The paper discusses digitising the leading information flows in control activities. The focus is on applying technology and its integration in implementing forms of control. The aim is to argue for practical approaches to minimise information risk in pre-ongoing and post-control to ensure the accuracy and veracity of financial and non-financial information. Evaluating the effectiveness of data ensures integrity, consistency, validity, completeness and timeliness - applying digital risk assessment tools to control activities. To prove the hypotheses, the cross-tabulation method is applied, focusing on the relationship between the use of verification, inspection, audit, revision and supervision, and the digital tools applied in the control institutions implementing financial control in the public sector of the Republic of Bulgaria. The study evaluates the effectiveness of data management practices, emphasizing the importance of maintaining integrity, consistency, validity, completeness, and timeliness. The study acknowledges that the use of advanced digital risk assessment tools could improve the effectiveness of control activities in various areas. The approach supports the sustainability of financial control and is in line with modern management standards, promoting a culture of accountability and precision in the management of public finances.
Avtorske pravice (c) 2024 Silviya Kostova, Zhelyo Zhelev https://creativecommons.org/licenses/by-nc-nd/4.0
Diagnosing the Issue: Understanding and Combating Medical Brain Drain in Bosnia and Herzegovina
This study investigates emigration patterns among healthcare professionals in Bosnia and Herzegovina, examining the underlying reasons for emigration and proposing actionable solutions to curb this trend. A mixed-methods approach is employed, combining quantitative data from surveys administered to medical and health studies students with qualitative insights from interviews with governmental officials, language educators, and statistical agencies. The findings reveal significant dissatisfaction with socio-economic and political conditions, prompting healthcare professionals to seek opportunities abroad. Major reasons for going abroad include political instability, low wages, and poor working conditions, while better pay and career opportunities are attracting factors. While the study is limited by the lack of comprehensive official statistics on emigration, the implications of this research emphasize the need for policy interventions aiming to improve local working conditions and reform educational systems. The study provides valuable insights for policymakers and stakeholders to effectively address the issue of brain drain.
Avtorske pravice (c) 2024 Hatidža Jahić, Nejra Hadžiahmetović-Milišić, Lejla Dedović, Emina Kuloglija https://creativecommons.org/licenses/by-nc-nd/4.0
The Impact of Structural Transformation on Global Value Chains in the MENA Countries
Several studies on economic transition propose that structural change in developing countries, that involves reallocating from less productive to more productive sectors, might enhance participation in global value chains (GVCs). However, there is a lack of empirical work on this claim. This study explores the factors affecting global value chain (GVC) participation in the Middle East and North Africa (MENA) region while considering structural transformation from 2000 to 2018. By applying the system GMM empirical research method, we found that structural change significantly contributes to facilitating the position of MENA economies under consideration. Specifically, the service and industry sectors play pivotal roles in these countries. This study also postulates that if we want to strengthen the participation of companies in GVCs, access to the internet, and a high level of education tertiary are necessary Also, environment and policies conducive to investment and direct investment abroad are important. The study posits positive commercial and financial links, and population size as important factors in promoting this position.
Avtorske pravice (c) 2024 Nihel Frikha, Foued Badr Gabsia https://creativecommons.org/licenses/by-nc-nd/4.0