Economic and Business Review (EBR)
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Stanje in trendi digitalne preobrazbe v Sloveniji
No full textDigital transformation presents many challenges for established companies that are increasingly aware that digitalisation is primarily a business challenge that requires changes in organizational culture, people, business processes and business models. Previous research shows that Slovenia is lagging behind in this respect. This paper contributes to the knowledge of the situation in the field of digital transformation in Slovenian large and medium-sized companies and to a better understanding of the key factors of successful digital transformation, which is the basis for taking appropriate decisions and further development of activities in Slovenian companies. The analysis is based on a survey conducted in June and July 2017, which examined the various aspects of digital transformation, such as its strategic role, digital culture, digital maturity and organizational aspects. The results of the analysis confirm that Slovenian companies are in general less digitally mature than their peers around the world. Investing only in information technology does not increase digital maturity; it is higher in the companies where the business role of informatics was recognized. A digital organizational culture is important for the successful digital transformation of companies
Cohesion Policy and Development Priorities in Slovenia
No full textSlovenian Smart Specialization Strategy was adopted in 2015, identifying key priority areas of the country’s future Research, Technology Development and Innovation (RTDI) policy. The aim of this paper is to find how well these areas correspond to the past development priorities in Slovenia. Since they have never been explicitly determined before, this paper seeks to identify them ex-post, based on the analysis of sectoral distribution of firm-level data on cohesion policy subsidies, distributed to firms for R&D activities between 2004 and 2011. We find that as high as 76% of subsidies going to manufacturing firms were concentrated in only seven sectors, which are in fact consistent with the recently defined future RTDI priority areas. This contributes to our understanding of cohesion policy in practice by recognizing that despite no explicitly identified priority sectors before 2015, cohesion R&D support in Slovenia has in the past been successful in identifying and promoting sectors which have later proved to be the most dynamic and promising parts of the Slovenian economy, and which still form the backbone of its current RTDI strategy
Vloga zaznave HRM, kohezivnosti in zavzetosti pri delu na prispevek k uspehu ekipe
No full textThe purpose of this study is to analyse the role of the work-engagement between the perceptions of team cohesiveness and the quality of human resources management (HRM) on one side, and the effect on athlete’s contribution to team performance on the other. The results based on the structural model equations and the Sobel’s tests confirm that the perceptions of the HRM quality and cohesion predict the degree of athlete’s work-engagement. The latter then mediates the effects of the HRM and cohesion on the athlete’s perception of his contribution to team performance. At the same time, the results show that the perception of co-workers and their behaviour (cohesiveness) in the context of sports teams is from the aspect of an athlete’s work-engagement at least as important as the perception of the superiors and their attitude (HRM quality)
SLOPOL10: A Macroeconometric Model for Slovenia
No full textThis paper describes the SLOPOL10 model, a quarterly macroeconometric model of the Slovenian economy to be used for forecasting macroeconomic development and simulating alternative policy measures. The model is of the Cowles Commission type and is estimated using the cointegration approach, thus combining the long-run equilibrium and the short-run adjustment mechanism. It contains behavioural equations and identities for the goods market, the labour market, the foreign exchange market, the money market, and the government sector. Estimation of behavioural equations for Slovenian aggregates is based on data starting in 1995. The model combines Keynesian and neoclassical elements. The Keynesian elements determine the short and medium-run solutions in the sense that the model is demand-driven and persistent disequilibria in the goods and labour markets are possible. The supply side incorporates neoclassical features. Static and dynamic ex-post simulations show that the model can reasonably reproduce past development and is therefore suited for prediction and policy evaluation, especially for fiscal policy design and optimal control experiments
Merjenje dolgoročnega BDP Per Capita Slovenije, 1820-2016
No full textIn this paper, I estimate the real GDP per capita of Slovenia for the period 1820-2016 using the indirect method based on existing national accounts and proxy variables. The results confirm the pattern of slow industrialization until 1913, stationary growth dynamics in the interwar period and during the civil war, rapid industrialization after 1952, a steep decline in the period 1986-1992 and a rapid growth in the independence era. The estimates suggest that Slovenia achieved a short-lived per capita income parity with Austria and West Germany in early 1980s which still has not been recovered down to the present day. In the post-WW2 era, Slovenia sustained higher per capita GDP than Vishegrad country group and Mediterranean countries in Southern Europe
The Interplay of Expatriates’ Psychological and Social Capital for Knowledge Transfer
No full textExpatriate managers are recognised as fundamentally important stakeholders in the process of transferring knowledge between headquarters and subsidiaries in multinational corporations (MNCs). This paper’s goal is to determine how expatriates’ personal capital (i.e. positive psychological capital and social capital) facilitates conventional and reverse knowledge transfer where there are language, cultural and geographical differences between headquarters and subsidiaries. A qualitative multiple case study approach was used to analyse the data, obtained by in-depth interviews with expatriates and managers from three MNCs. The findings suggest that psychological capital supports knowledge transfers in MNCs in two ways: first, directly and, second, through the creation of expatriates’ social capital. This study shows that positive psychological capital dimensions of expatriates (efficacy, resilience and optimism) represent individual level antecedents of knowledge transfer between HQ and subsidiaries, thereby contributing to the literature on expatriates’ boundary spanning role in MNCs. The results also indicate that psychological capital dimensions support creation of structural and relational dimensions of social capital, further enhancing knowledge transfer in MNCs, thereby advancing the literature on the role of expatriates’ social capital in knowledge flows. By observing the relationships in different subsidiary types, this study also provides valuable implications for international knowledge management
Firm Credit Ratings and Financial Analyst Forecast Performance
No full textThis study examines the relationship between firms’ credit ratings and financial analyst earnings forecast performance. We hypothesize and find that high firm credit ratings, which represent low task complexity and low solvency risk, are associated with less dispersion and more accurate earnings forecasts, while low credit ratings are associated with more dispersion and less forecast accuracy. The results of this study are useful to market participants by revealing the increased (decreased) value of information contained in financial analysts’ forecasts when firms have received high (low) credit ratings
What Really Defines the Performance in Hotel Industry? Managers’ Perspective Using Delphi Method
No full textThis paper brings together empirical studies in hospitality literature focusing on understanding the drivers of hotel performance and combines them with experts\u27 opinions on the most important drivers of performance in the hospitality industry. The first step focused on studying more than 60 papers available in hospitality literature focusing on hotel performance. The second step involved the Dephi method on a pool of 10 experts from the hospitality industry in order to explore their opinion on major drivers of hotel performance. The results showed that literature is mainly focusing on examining the impact of HRM practices, organizational culture, ICT, brand equity, environmental practices and hotel facilities on performance. However, experts did not find those drivers to be the crucial factors of hotel performance. They emphasized the importance of location, product segmentation, company flexibility and cooperation between tourist service providers. Those drivers have not caught the attention of academia so far and they represent a potential new avenue for future hospitality research on understanding hotel performance. Both literature and experts found that market orientation, customer satisfaction, service quality and business processes are important drivers of hotel performance that require further research and examination
Research and Development Expenses under IFRS Mandatory Implementation: A Value Relevance Approach
No full textThe paper focuses on the degree to which the accounting treatment of R&D expenditure is stock price informative following the adoption of IAS. Therefore, using recent data of French listed companies, starting from the year in which IFRS were applied, 2005-2015, the present study examines the value relevance of the different R&D accounting treatments. Unlike evidence regarding the pre-IFRS period in France, we find that the capitalized portion of R&D is not correlated with market values, suggesting that under IFRS mandatory implementation, R&D assets are not value relevant. The expensed portion of R&D is positively related to market values only for manufacturing companies. Accordingly, we conclude that IFRS implementation has implications on the valuation of R&D expenditure by investors in French firms
The Interplay among Prosocial Motivation, Cultural Tightness, and Uncertainty Avoidance in Predicting Knowledge Hiding
No full textIn this paper we raise questions regarding the socio-cultural aspects of knowledge hiding. Specifically, we aim to deepen understanding regarding the role that national cultural dimensions and motivation plays in stimulating or preventing knowledge hiding. We investigate a three-way interaction between prosocial motivation, cultural tightness, and uncertainty avoidance to explain knowledge hiding in organizations. Our field studies involved working professionals from Slovenia (n = 123) and China (n = 253). Results show that the highest level of knowledge hiding was present when employees had a combination of a low level of prosocial motivation, a low level of cultural tightness, and a low level of uncertainty avoidance. The highest levels of knowledge hiding were present when employees are not motivated by the welfare of others, who are inclined to take risk and who perceive that who know that deviation from culture norms will not be sanctioned. We discuss the contributions and implications of our two studies for the fields of knowledge hiding and cross-cultural organizational behavior