Economic and Business Review (EBR)
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Early Warning Models for Systemic Banking Crises in Montenegro
No full textThe purpose of this research is to create an adequate early warning model for systemic banking crises in Montenegro. The probability of banking crisis occurrence is calculated using discrete dependent variable models, more precisely, estimating logit regression. Afterwards, seven simple logit regressions that individually have two explanatory variables are estimated. Adequate weights have been assigned to all seven regressions using the technique of Bayesian model averaging. The advantage of this technique is that it takes into account the model uncertainty by considering various combinations of models in order to minimize the author’s subjective judgment when determining reliable early warning indicators. The results of Bayesian model averaging largely coincide with the results of a previously estimated dynamic logit model. Indicators of credit expansion, thanks to their performances, have a dominant role in early warning models for systemic banking crises in Montenegro. The results have also shown that the Montenegrin banking system is significantly exposed to trends on the global level
Dejavniki sprejemanja poslovnointeligenčnih sistemov
No full textInterest in the adoption of business intelligence systems is growing, but adoption alone is not enough to add value to business performance. Business value is only added by using the information provided by the system, which means that users must use or adopt the system. Many studies have attempted to explain user adoption of information technology. This has led to complementary theories and models that identify numerous determinants of adoption. The most commonly used theory to explain adoption determinants is the Technology Adoption Model (TAM). This article identifies specific key determinants of business intelligence system adoption based on the identification of the specifics of business intelligence systems and the previous comprehensive study and systematisation of the general determinants of information technology adoption that emerge from the main theories. Understanding these determinants can promote the creation of positive perceptions and consequently greater adoption and use of business intelligence systems and consequently improve the realisation of their potential benefits and business value. Based on the findings, the following research steps will develop a business intelligence acceptance model (BIAM), which will later be empirically verified and evaluated
Konceptualni model vpliva notranjega brandinga na ustvarjanje presežne vrednosti za porabnike
No full textInternal branding is a process that focuses on employees and their satisfaction, because satisfied employees are more willing to build a genuine relationship with consumers, respond to their needs and deliver on the brand\u27s promises. The process also encourages employees to internalize the desired image of the brand and spread it among consumers. In this way, an emotional bond is developed among employees, which is reflected in their identification with the brand and their affiliation and loyalty to it. Based on the focus groups, we hypothesize that employees who identify with the brand\u27s values and truly believe in its promises realize the brand, which creates added value to consumers. From this, we conclude that a company that puts its employees at the centre takes a different approach to creating unique value for consumers
The Persistence of Pricing Inefficiencies in the Stock Markets of the Eastern European EU Nations
No full textThis paper applies a range of metrics to test for the presence of weak form market efficiency in the Eastern European countries that joined the EU in 2004, we test both the years prior to and following accession. The results from our tests indicate that, despite the expectations of many previous studies, even after entering the EU the stock markets of these countries still do not conform to even the loosest form of market efficiency. We improve and extend previous studies by incorporating liquidity controls, applying a wider range of methodologies and by using individual stocks rather than indices
Agricultural Trade Liberalisation and Growth in Income of Rural Household in Bangladesh: A Quintile-Growth Approach to the Analysis of Distributional Consequences
No full textThe study has investigated the growth in income of rural households in Bangladesh with a view to analysing distributional consequences in the post-liberalisation era. Using data from secondary sources, it has applied a quintile-growth approach by dividing each group of households into five income clusters (quintiles) to analyse the incidence of growth in real income. It has found that although all groups of rural households experienced a moderate to high increase in real income, non-farm households experienced a larger increase than farm households due to a large reduction in consumer price. Farm households gained from the increase in productivity but experienced losses from producer price reduction. The two opposite forces – increase in productivity and reduction in producer price – offset the effects of each other, thereby affecting the income growth of farm households. Amongst the farm households, large and medium farmers gained the most and small farmers gained the least from the growth in real income, indicating that rich households experienced a much higher increase in real income than poor households – thereby adversely affecting the distribution of income and widening the income gap between rich and poor households. These findings demonstrated that while agricultural trade liberalisation benefited rural households generally, the benefits were not distributed equally and in fact, inequality increased amongst rural households. This study argues that the growth in real income of rural household was not pro-poor during 1985- 86 to 2005. This study suggests that agricultural trade liberalisation contributed to higher growth in the rural economy but it contributed to greater inequality in income distribution amongst the rich and poor income groups (quintiles). Government should reduce inequality through policy interventions with income transfer from the rich to the poor
Determinants of supplier-buyer relationship competitiveness in transnational companies
No full textEffective supplier-buyer relationship management should not be seen only in terms of cost and financial measures, as outlined by Transaction cost economics, but also in terms of other (“softer”) relational benefits, like e.g. more comprehensive information sharing, higher levels of trust, better cooperation and increased relationship flexibility. This second view is grounded in both Relationship marketing and Resource-advantage theory. Surprisingly, only a few research papers on supplier-buyer relationships address both of these perspectives equally, as well as in terms of long-term competitiveness (vis-avis a traditional short-term performance). The purpose of this paper is to analyze business relationship determinants of supplier-buyer relationship competitiveness, where we study the impact of (1) relationship-based information exchange, (2) network spillover effects, (3) transaction-specific investments, (4) trust, (5) cooperation (joint actions) and (6) flexibility on perceived (7) supplier-buyer relationship competitiveness. In this regard the main research question of our study is: Which relational and transactional dimensions determine supplier-buyer relationship competitiveness, as well as how strongly? To provide the answer this research question we employ an exploratory-type Partial Least Squares (PLS) regression in conjunction with a novel perspective of network spillover effects, as a set of independent variables in our model. The data set consists of a sample of 130 international suppliers (approx. 30 % response rate) connected to a transnational company (TNC) headquartered in Slovenia, which operates in the steel construction solutions’ industry. Our results clearly identify a relational and a transactional set of determinants of supplier-buyer relationship competitiveness, with the former having a significantly higher impact on competitiveness than the latter. With regards to specific dimensions associated with this relational component network spillover effects, as well as trust turn out to be key determinants of supplier-buyer competitiveness
ICT as a new competitive advantage factor – case of small transitional hotel sector
No full textThis paper studies the information and communication technology (ICT) in a small hotel sector at a point in time when the transition towards a full market economy is coming to the end and competitiveness and ICT implementation is gaining on importance. Its main purpose is to study a business potential of this new competitive advantage resource and its productivity paradox. A competitive advantage factor model (CAF model) has been proposed and the structural modelling (SEM) has been performed on the case of a small transitional Slovenian hotel sector. The study contributes to knowledge on ICT competiveness and ICT productivity paradox in hotel sector. Further, its results hold practical implications for the strategy for hotels operating in small-sized hotel industries in transitional or ICT developing environments. In more concrete terms, research findings indicate that such hotel sectors need to speed the ICT implementation. ICT as such doesn’t directly increase the firm’s profitability, yet there is an indirect positive impact of factor ICT on a firm’s financial performance that emerges through other competitiveness factors, such as differentiation, quality or image, which helps firms to stay competitive on the tourism markets
Estimating beta of Viet Nam listed public utilities, natural gas and oil company groups during and after the financial crisis 2007-2011
No full textThere comes a need for analyzing riskiness of many industries in Viet Nam stock market during the financial crisis period 2007-2011. Among these industries, the Viet Nam public utilities, natural gas and oil industries, specifically, also has to re-evaluate the risk level.First, we found out in the research sample that there are 84% of firms, of total 45 listed firms, with beta values lower than (\u3c) 1, meaning with lower risk, and the systemic risk is acceptable.Second, there are 13% among total 45listed firms, whose beta values higher than (\u3e) 1, meaning having stock returns fluctuating more than the market index.Third, among three (3) groups, the systemic risk in the electric power industry is the smallest, and asset beta variance in the gas and oil industry is the smallest, shown by estimated values of equity and asset beta mean.Finally, this paper generates some analytical outcomes that enable companies and government to have more evidence in establishing their policies in investments and in governance
The Role of Asset Allocation Decisions in Planning for a Private Pension: The Case of Slovenia
No full textCurrent demographic dynamics driven by low fertility and increasing longevity requires adjustments of the traditional frameworks of providing pensions. In this article we highlight three crucial issues policymakers should address by implementing those adjustments. First, fiscal limitations given the current and projected demographic dynamics will dramatically reduce PAYG pensions. Without sufficient savings during the active period, individuals will increasingly end up in poverty. Their savings will not be enough to support their desired consumption in old age. Second, we highlight the impact of the asset allocation decision and the general public’s related lack of awareness on this issue. Therefore, we argue that financial illiteracy about both required savings and about decisions on appropriate asset class play a significant role in determining the well-being of masses in the not-so-distant future. Third, we argue that shift towards private pension away from the PAYG is expected to come with substantial benefits stemming from diversification among conceptually different sources of pension income