South East European Journal of Economics and Business
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THE ROLE OF MONITORING AND EVALUATION AND PROJECT IMPLEMENTATION MANAGEMENT SYSTEM FOR NON-PROFIT PROJECT PERFORMANCE IN DEVELOPING COUNTRIES
Full text linkThis study examines the relationship between monitoring and evaluation (M&E), project implementation management system (PIMS) for financial monitoring, and project performance within the framework of the resource-based view (RBV), dynamic capabilities, and knowledge management theory. It focuses on non- profit projects in a developing context, particularly in countries such as Bosnia and Herzegovina (BiH). Developmental assistance and non-profit projects have an important role to play in the economic performance of developing countries. The research highlights the significance of understanding factors influencing project performance in non-profit projects in developing countries such as BiH. The findings indicate that both M&E and PIMS for financial monitoring significantly influence three key knowledge management processes - knowledge internalization, knowledge accumulation, and knowledge transfer and integration, which in turn positively influence project performance. The study underscores the importance of synergy between M&E, PIMS, and knowledge management for enhancing project performance, offering valuable insights for policymakers, donors, the international community, and academia
THE EFFECTS OF MACROECONOMIC AND FINANCIAL DEVELOPMENT ON INCOME INEQUALITY: EVIDENCE FROM THE WESTERN BALKANS
Full text linkUsing data from 1996 to 2019 covering five Western Balkan countries and applying the linear panel data estimation method, this paper examines the effect of macroeconomic indicators and financial market development on income inequality. Regression results with Driscoll-Kraay standard errors demonstrate that income per capita increases income disparities. Theoretically, there are grounds for both a positive and negative relationship between economic growth and income inequality. In addition, contrary to prevailing literature, our analysis finds no significant impact of financial market development on income inequality, while the rule of law is found to have no effect on income inequalities in these countries. We depart from previous literature by bringing new evidence on the relationship between income inequality and economic growth in the specific context of Western Balkan countries. We study this relationship in an integrated framework and rely on a larger time span, both of which are seemingly important for comprehending the income inequality-economic growth nexus. Certainly, the obtained results bear important policy implications as discussed in this paper
GENDER ENTREPRENEURIAL BEHAVIOUR: A SSLR (SEMI-SYSTEMATIC LITERATURE REVIEW) APPROACH
Full text linkGender-related entrepreneurship research remains essential for analyzing various socioeconomic, cultural, and socio-family abstractions of human capital that are distinct to gender. This study provides a comprehensive review of the literature about the theoretical foundations, results, assessment, and research that considers specifically composition of human capital as a moderator in the structure of gender entrepreneurial behavior. In this review study course, the SSLR (Semi-Systematic Research Review) approach is utilized to develop future research outlines. The key findings state that studies on female entrepreneurs that concentrate specifically on education and perceived abilities have a number of shortcomings. This includes failing to grasp the importance of simultaneously addressing individual and country-level indicators, as well as structural, historical, and cultural variables. The findings thus reinforce the importance of viewing the structure of female entrepreneurs as part of a holistic interdependent system, highlighting how the interaction of factors at various levels shapes identities, career choices, and perceptions of entrepreneurial opportunities and constraints. Finally, findings indicated that there is a need for a new approach to gender and economic inclusion methods, such as life histories, longitudinal empirical analysis, narrative analysis, approaches with in-depth interviews, or discourse analyses. At the end an agenda for future research is developed based on the review, with implications for entrepreneurship educational attainment and perceived abilities being highlighted
IMPACT OF IN-WORK BENEFITS ON WORK INCENTIVES IN CROATIA: A MICROSIMULATION ANALYSIS
Full text linkGenerous social benefit systems reduce work incentives, which has prompted more than half of the EU countries to introduce some sort of make work pay policies. Previous research for Croatia has shown that certain types of households have very low work incentives. Therefore, this paper aims to analyse the impact of in-work benefits on work incentives of non-employed persons and the poverty rate in Croatia. Using the tax-benefit microsimulation model EUROMOD, which is based on the EU-SILC 2020 data, three hypothetical types of in-work benefits are simulated. The results show that the characteristics and the design of in-work benefits are essential, and the choice of the appropriate type of benefit depends on the policy objectives. This paper is the first to analyze the impact of in-work benefits on the work incentives of all non-employed persons in Croatia
THE NEXUS BETWEEN ECONOMIC POLICY UNCERTAINTY AND STOCK MARKET VOLATILITY IN THE CEE-3 COUNTRIES
Full text linkA stock market plays a pivotal role in a financial system and is monitored as a yardstick of a healthy economy. It is a stylized fact that there is a positive and significant relationship between financial development and economic growth. However, emerging markets often exhibit more volatile returns than developed markets, and extreme volatility might prevent financial stability. The literature underlines the role of uncertainty in predicting volatility and suggests a strong positive association between economic policy uncertainty and stock market volatility. Against this backdrop, this study examines the dynamic nature of relationships between economic policy uncertainty (in Germany and the US) and long-run stock market volatility of CEE-3 (Central and Eastern European: the Czech Republic, Hungary, and Poland) countries. This study follows two steps in empirical analysis. First, it obtains long-run stock market volatility and then estimates dynamic regression models. The evidence shows a positive and significant one-period lagged impact of economic policy uncertainty on long-run stock market volatility
THE IMPACT OF THE CRISIS INDUCED BY THE CONFLICT IN UKRAINE ON FIRMS: EVIDENCE FROM NORTH MACEDONIA
Full text linkThis paper evaluates the impact of the Ukraine conflict-induced crisis on firms in North Macedonia using data from a survey conducted with 112 firms in April and May 2023. Through descriptive statistics and probit regression analysis, we find that small firms in low-wage sectors predominantly coped with the crisis by raising prices of final products and services, followed by cost-cutting measures. Larger firms tended to invest in self-electricity generation or energy-saving equipment. Our results show that firms with higher energy cost shares increased final prices more but experienced decreased competitiveness. Firms not addressing rising costs did not consistently pass these costs onto prices or maintain competitiveness, except for labor costs. Labor cost increases, such as from minimum wage hikes, may lead to cost-push inflation unless firms absorb these costs at the expense of profits
THE IMPACT OF BUDGET TRANSPARENCY ON BUDGET CREDIBILITY: EVIDENCE FROM CROATIAN CITIES
Full text linkThis paper examines how budget transparency affects budget credibility, i.e., how it affects budget current revenue/expenditure deviations. Specifically, the first objective is to describe how budget transparency affects budget credibility or accuracy of the enacted budget at the local level. The second is to examine if and in which direction budget deviations are systematically biased. The third is to link the accuracy of enacted budgets with political budget cycles’ literature. Budget transparency is measured by the number of published key budget documents on the City’s official websites. Budget credibility is measured by the difference between the planned amount minus the actual amount divided by the actual amount. Our sample comprises balanced panel data for 120 Croatian cities during the period 2016-2021 and system GMM method was used. The findings indicate that cities with greater budget transparency typically underestimate their revenues and overestimate their expenditures. Less transparent cities, on the other hand, frequently overestimate their revenues and underestimate their expenditures, yet ultimately spend more than intended
THE ROLE OF CONSUMER KNOWLEDGE IN THE PRIVACY PARADOX OF PERSONALISED ADVERTISING
Full text linkCurrent literature on the privacy paradox in personalised advertising lacks insight into how consumers’ knowledge of the data types used shapes their responses to these ads. Building on privacy calculus theory, theory of reasoned action, and signalling theory, this research explores how consumers’ knowledge of data types in personalised advertising influences their reactions. Multigroup path analysis examines differences in established relationships based on consumers’ data knowledge. The moderating effect of this knowledge in the relationship between perceived invasiveness and purchase intentions is also tested. Findings from a sample of millennials indicate that privacy concerns increase perceived invasiveness. However, multigroup and moderation analyses reveal that perceived invasiveness’ impact on purchase intentions varies with consumers’ data knowledge. Specifically, in the search history group, perceived intrusiveness negatively affects purchase intentions. These results underscore the situation-specific nature of the privacy calculus and assist advertisers in understanding consumer behaviour in response to personalised ads
