South East European Journal of Economics and Business
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THE (POSITIVE) DESIGN ENVIRONMENT AS A PREREQUISITE OF DESIGN ORIENTATION
Get PDFDesign is a human-centered activity. Every design project starts with the analysis of user needs and preferences. This means that design orientation of a company should also be positively related to company’s business results. However, in most transitional countries of Central and Eastern Europe (CEECs), design environment is not supported, there is no clear national design policy, design implementation in companies varies, and there is no constant measurement of design impact. The main interest of this paper is to research the level of design implementation in Croatian companies related to the managerial approach and business results, because such research is usually undertaken in more developed countries. The study focuses on the perception of management. This quantitative research has been carried out using an Internet survey to examine managers and CEOs from Croatian companies in different industries. The results show positive relations between design environment and design orientation of a company and a significant impact of management
BANKING MARKET CONCENTRATION AND BANK EFFICIENCY. EVIDENCE FROM SOUTHERN, EASTERN AND CENTRAL EUROPE
Get PDFThe importance of the question about the relationship between concentration and efficiency lies in the fact that banks’ efficiency affects ability to extend loans and ensure financial stability of the banking sector. The study examines this relationship on the example of 150 banks operating between 2005 and 2019 in 11 EU and 8 non- EU countries from the SECE region. The value of profit efficiency was assessed with the stochastic frontier approach, and next regressed with the banking market concentration and bank specific and macroeconomic explanatory variables. The results for the entire sample as well as for domestic and foreign-owned banks indicate that concentration positively and nonlinearly impacts bank efficiency, both in EU and non-EU countries. Moreover, the size of a bank and income diversification help to improve efficiency of banks in the SECE region. The study shows that banks in SECE countries seem to follow the efficient structure hypothesis
TECHNOLOGICAL TRENDS IN THE MANUFACTURING AND SERVICE SECTORS. THE CASE OF MONTENEGRO
Get PDFTechnological efficiency is one of the main factors of economic growth in modern history. Technologies have traditionally been important for manufacturing sector, but the age of digitalization has also made service sector increasingly rely on modern technologies. There are not many studies measuring the technological trends of these two sectors. This study uses the micro approach of the dynamic panel to measure productivity of the manufacturing and service sectors in Montenegro during 2010 to 2019, between the two global economic crises, using firm level data. The results indicate a clear upward technological trend in manufacturing but not in the service sector. Divergent technological trends are found amongst the manufacturing and service industries that require different level of technologies and knowledge in their production processes. The study concludes that there is a room for further technological improvements in both sectors and proposes concrete policy measures for further development
THE INFLUENCE OF SERVANT LEADERSHIP ON ORGANIZATIONAL CITIZENSHIP BEHAVIOR: THE MEDIATING EFFECT OF ORGANIZATIONAL COMMITMENT
Get PDFThe main aim of the study to find out whether organizational commitment has any mediation effect on the relationship between servant leadership and organizational citizenship behavior. Data was collected from 432 managers and staff of private commercial banks in Bangladesh. The respondents were selected using the convenience sampling technique. Structural equation modeling was used for analyzing the collected data. The study reveals that servant leadership has a direct influence on organizational commitment and organizational citizenship behavior, as well as organizational commitment has a direct impact on organizational citizenship behavior. It is also revealed that the relationship between servant leadership and organizational commitment is partially mediated by organizational commitment. The main implication of the study is that employees’ organizational citizenship behavior can be improved by servant leadership of managers through the indirect effect of organizational commitment of employees. The study also pinpoints some limitations as well as future research directions
CAN YOU SEE HOW IT SMELLS? WHAT EYE TRACKING CAN TELL US ABOUT THE SHELF MANAGEMENT OF LUXURY PERFUMES
Get PDFThe purpose of this paper is to advance the theory and contribute to the practice of luxury perfumes’ shelf management by decoding the relationship between attention on the shelf, purchase decision-making, and brand recall. It employs an eye-tracking experiment to analyze attention spans and fixations, which is combined with a questionnaire to uncover recall and purchase intent. The research identifies attention patterns and the influence of attention on recall and purchase intention. It further reveals the main factors that influence attention on the shelf in the luxury perfume industry. This is a milestone for further elaboration on the benefits of the fashion mainstream for luxury perfumes and the debate regarding whether luxury perfumes should be treated similar to mainstream fashion or similar to any other product in basic shelf management rules. This study enables shelf managers and marketers to place the perfumes both on the shelf and in consumer minds to maintain a top-of-the-mind brand position. Managerial implications are significant and address perfume industry packaging as well as shelf positioning
A STOCHASTIC FRONTIER APPROACH TO MEASURING INEFFICIENCY OF LOCAL COMMUNITIES IN BOSNIA AND HERZEGOVINA
Get PDFThe significance and methods of measuring inefficiency of local communities has been gaining prominence in the last decade. The purpose of this paper is to empirically investigate the level of technical inefficiency in the sample of local communities in Bosnia and Herzegovina (BiH) for the year of 2017. We implement parametric stochastic frontier analysis (SFA) to conduct an input-oriented stochastic parametric approach to measuring technical inefficiency of local communities in BiH. The results of our work are complementary to previous research indicating relative technical inefficiency of local communities in BiH. On average, BiH local communities’ total expenditures can be reduced by 46.8 percent without reducing output levels to achieve the result of the local community on the best practice frontier. Since our analysis and selection of variables are driven by data availability, the future research plans to include more variables
ECONOMIC PERFORMANCE IN POST-SOVIET AND POST-COMMUNIST COUNTRIES – EVIDENCE FROM PANEL DATA AND MULTIVARIATE STATISTICAL ANALYSIS
Get PDFThe study examines the impact of a set of determinants of economic growth, which are widely emphasised in the literature, in a group of 27 selected post-Soviet, post-communist and transition countries from Central and Eastern Europe, the former Soviet Union, and Mongolia during 1997–2017. The set of baseline variables includes, among others, trade openness, investment rate, public consumption spending, and selected demographic factors. The methodology uses panel data and it is supported by multivariate statistical methods of grouping objects. The panel data used provides results that are mainly consistent with the literature review. However, the effects of demographic factors are rather not significant, but the role of investment has been emphasised. In turn, the multivariate statistical approaches indicate the shifts in regional de(similarity) between the analysed countries with respect to the performance of the selected variables over the last 20 years
ECONOMIC GROWTH IN THE WESTERN BALKANS: A PANEL ANALYSIS
Get PDFThis paper investigates how typical macroeconomic indicators affect the economic growth of Western Balkans countries. A static panel empirical investigation for the period 2010 to 2019 has been conducted using GDP growth rate as the dependent variable, while independent variables in focus include foreign direct investments, remittances, unemployment rate, population growth rate, and control of corruption. The most interesting finding is that a rising share of remittances positively affects economic growth. This might indicate that even when remittances are used for non-investment purposes, they might increase domestic production of consumption and intermediate goods. There is also evidence of a non-linear relationship between FDI and economic growth, which may be a consequence of undeveloped capacities to use the positive side of FDI. To foster economic growth policy-makers should focus on reforms that target sectors that show sharp declines in FDI and remittances inflows, including also a need for better control of corruption in the region
EVALUATION OF MIXED FREQUENCY APPROACHES FOR TRACKING NEAR-TERM ECONOMIC DEVELOPMENTS IN NORTH MACEDONIA
Get PDFAggregate demand forecasting, also known as nowcasting when it applies to current quarter assessment, is of notable interest to policy makers. This paper concentrates on the empirical methods dealing with mixed-frequency data. In particular, it focuses on the MIDAS approach and its later extension, the Bayesian MFVAR. The two strategies are evaluated in terms of their accuracy to nowcast Macedonian GDP growth, usingsame monthly frequency data set. The results of this study indicate that the MIDAS regressions demonstrate comparable forecasting performance to that of MF-VAR model. Moreover, it is interesting to note that the two approaches are reciprocal, since in general, their combined forecast demonstrates clear superiority in predicting business cycle turning points. Additionally, the MF-VAR model showed higher precision in times of increased uncertainty