Economic and Business Review (EBR)
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Where is Austria’s Economy Heading?
No full textAustria is one of the wealthiest and most stable European Union Member States. With spectral analysis this paper attempts to forecast economic indicators of the Austrian economy up to 2030 to provide a clearer picture of its future economy. The applied spectral analysis reveals hidden periodicities in the studied country’s economic data which are to be associated with cyclical behaviour or recurring processes in economic time series. The 2018-2030 period forecasts of Austria’s real GDP, government budget deficit or surplus in current prices, current account balance and total population respectively are all bullish, including unemployment rate doomed to expand at an annual rate of 0.58% until 2030
Surveying the Methodological and Analytical Foundations of the New Institutional Economics: A Critical Comparison with Neoclassical and (Old) Institutional Economics
No full textThe purpose of this article is to review the methodological and analytical foundations of the New Institutional Economics by implying a critical comparison with the Neoclassical and (old) Institutional Economics. After a discussion of the fundamental definitions and concepts of the New Institutional Economics, I turn to the critical comparison with other schools of thought. It is shown that the New Institutional Economics does not break fundamentally from the neoclassical economics. To the contrary, it can be fairly argued that the New Institutional Economics is a research program which is developed within and around the dominant neoclassical paradigm. On the other hand, it is argued that the Old and New Institutional Economics constitute two distinct approaches to the analysis of institutions, stemming from different paradigmatic viewpoints that produce and nurture contrasting perspectives on how to theoretically tackle institutions
The Spatial Dimension of Entrepreneurship: Stylized Facts for the Case of Austria
No full textAustria and other European countries are striving to increase the level of entrepreneurial activities to create jobs and income in the aftermath of the Great Recession. The aim of this contribution is to establish stylized empirical facts about regional entrepreneurial activities in Austria. The methodology rests upon a spatial data analysis, the main results of which demonstrate a decline in entrepreneurial activities in the last decade, with a stable pattern of spatial distribution of new ventures and high-growth firms. Overall, our empirical findings point to a number of stylized facts questioning whether entrepreneurship is able to deliver all the proposed miracles policy-makers hope for. In line with the literature in regional economics and entrepreneurship research, our findings suggest persistent interregional differences between the intensity of regional entrepreneurial activities, a higher prevalence of entrepreneurial activity among core regions and a higher concentration of venture capital investments, as compared to innovation and entrepreneurial activities in general
Past, Present and Future of the Research on the Pro-Environmental Behaviour in Tourism: A Bibliometric Analysis
No full textEnvironmental sustainability is one of the key challenges humanity is facing today. Tourism is an invasive industry in terms of the damage it causes to the environment. An effective way to mitigate the negative environmental impacts of tourism is to shift tourist behaviour towards environmentally friendly behaviour. While there is a growing number of publications on tourist pro-environmental behaviour (PEB), this paper aims to overview the existing research in this area by applying a bibliometric analysis. Co-citations, keyword co-occurrences and bibliographic coupling are used to analyse the tourism PEB research and provide guidelines for the future
COVID-19 – pospeševalnik uveljavljanja nadzora nad neposrednimi tujimi naložbami
No full textUntil recently, no special measures were foreseen for the control of foreign direct investment. Free movement of capital is one of the pillars of economic systems and legal regulations, but it also allows some exemptions for the reason of public order and national security. However, the COVID 19 epidemic has shown that it can be very important that state is in position to execute efficient control on foreign direct investments to prevent some vital interests. The Republic of Slovenia also adopted some measures to control foreign direct investment in the Act Determining the Intervention Measures to Mitigate and Remedy the Consequences of the COVID-19 Epidemic. The Act stipulates the obligation to notify foreign direct investment in critical economic activities and critical infrastructure. The notification must be made to the Ministry of Economy. The Ministry of the Economy is also authorized to review and decide about the foreign direct investments. If foreign direct investment threatens national security or public order, the Ministry is empowered to issue the decision and prohibit the investment. The Ministry shall also establish a contact point for the exchange of information with other Member States and the European Commission in accordance with Regulation 2019/452
Lastništvo zaposlenih in managerjev v podjetjih v Sloveniji ter njegova vloga pri uvajanju novih izdelkov in storitev
No full textCorporate ownership is a powerful motivator for managers and employees. In this paper, we compare managerial and employee ownership of firms and the introduction of new products and services in firms with or without managerial or employee ownership. Using data from a sample of Slovenian firms, we find that ownership is greater and increases more for managers than for employees and that firms in which managers are owners introduce more new products and services than firms in which managers are not owners
Načrtovanje potovanj in vloga družbenih omrežij pri milenijcih
No full textThe role of social networks and the travel habits of Millennials are among the hottest research topics in tourism, but it is surprising that we still know very little about Millennials\u27 behaviour during the travel planning phase. In this paper, we use a quantitative survey of an international sample of educated Millennials to examine the characteristics of their travel planning and online shopping phases, and clarify the differences between the impact of different types of social networks
Kapitalska struktura slovenskih podjetij v obdobju 2006‒2017
No full textThe financial debt of Slovenian companies decreased significantly in the period 2012-2017. Using various indicators, we show that service companies in Slovenia are the most indebted, while the capital structure of construction companies has improved significantly. We find that the share of over-indebted Slovenian companies is around 21% in 2017, which is significantly lower than before the crisis
Poslovna etika podjetnikov in zaposlenih v Sloveniji
No full textBusiness ethics is critical to the long-term performance of companies. By examining differences between entrepreneurs and non-entrepreneurs and comparing entrepreneurs\u27 and employees\u27 attitudes toward business ethics, this study contributes to existing knowledge about business ethics in entrepreneurship. The results show that business ethics in Slovenia is at a relatively low level, that entrepreneurs have higher ethical standards than employees and are less cynical about business ethics than employees, and that ethical standards and perceived weaknesses in business ethics are negatively correlated, especially among entrepreneurs
Vpliv triangulacije revizijskih dokazov na revizorjevo oceno tveganja prevare v Sloveniji
No full textAudit evidence triangulation is a strategy for obtaining and evaluating audit evidence from three significant sources simultaneously, the benefit of which is to obtain additional independent audit evidence outside the entity. By triangulating audit evidence, the auditor reduces the risk of material misstatement due to deception to an acceptably low level. Since the use of this technique is very challenging in practice, the research aims to verify whether auditors in Slovenia recognize the importance of evidence of the external environment (business situation of companies) and how it affects the risk assessment of material misstatements due to deception in different combinations with internal evidence (company representations and management information). Based on a survey of 47 Slovenian auditors, we find that auditors rely too much on internal evidence when indicating a low risk of management fraud, while overlooking the importance of independent external evidence at the crucial moment. In contrast, they place too little emphasis on internal evidence when indicating a high risk of management fraud and look to the evidence of the external environment for confirmation that fraud is not occurring. The results indicate weak professional distrust among Slovenian auditors