Economic and Business Review (EBR)
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Behavioural aspects influencing the performance of Turkish fund managers
No full textUsing original survey data collected by the authors in 2005 we investigate the determinants of Turkish fund managers’ performance as measured by the number of clients that a fund manager has, the number of investment funds that the manager is responsible for and the size of the manager’s portfolio. All three measures of Turkish fund manager performance systematically vary with fund manager characteristics. This is consistent with Chevalier and Ellison’s (1999) finding for the USA that some managers are better than others. Further, the number of training courses attended by a manager and years of experience (in a particular organisation and/or as a fund manager) are found to positively influence all three measures of performance. This may suggest that senior managers and those with more training are given more responsibility than less experienced and less trained managers
Minimising inventory costs by properly choosing the level of safety stock
No full textMarkets are everyday becoming ever more demanding and companies are adjusting in different ways. The objective of forecasting in a demand-driven supply network is to identify the probable range of expected demand so that supply can cover demand anywhere within the statistical range. Supply can cover the range either through having the capacity to replenish within lead times or by carrying excess inventory (safety stock). Nowadays, many companies put a lot of their energy and finance into setting the right level of safety stock and reducing related expenses. In this paper, we improve an existing method for calculating the safety stock for a particular Slovenian company. We present the existing and proposed methods for calculating safety stock and derive a cost model. Finally, we prove that the proposed method not only reduces average costs but also helps to meet the target customer service level – making it also applicable to other Slovenian companies encountering situations where demand is seasonal
Active ageing on the company level: the theory vs. the day-to-day practice in Slovenia
No full textThe need to improve the labour market participation of older people has received ever greater attention in recent years, especially in view of the significant demographic changes the European Union will undergo due to population ageing. Besides the macroeconomic level, implications of this trend are strongly seen at the company level, particularly when it comes to managing the ageing workforce. Companies are thus introducing new approaches, policies and instruments which seek to foster the higher employment rates of the elderly by implementing the active-ageing concept in business and HRM practice. The paper aims to highlight the development of active-ageing initiatives within Slovenian companies where the practice of age management is still in its early stages. Consequently, we shed light on problems and obstacles appearing in the developmental process of implementing the active-ageing concept in Slovenian companies, and conclude with some recommendations for the future development of active-ageing practice with an emphasis on new HRM approaches, policies and instruments which seem to be extremely important when striving to prolong working life
Environmental strategies and their motives and results in Slovenian business practice
No full textThe results of a survey on 153 Slovenian manufacturing companies show that companies implement environmental strategies primarily as a refl ection of the commitment of their top management, followed by public concern, regulatory forces and expected competitive advantage. They report a relatively high level of implementation of the corporate environmental strategy while, among functional strategies, environmental issues are most commonly included in the production and marketing strategies, followed by purchasing and personnel strategies. Large companies develop and execute environmental strategies to a greater extent than small companies. The results also reveal a positive but very weak relationship between environmental strategies and company performance
Involvement, knowledge sharing and proactive improvement as antecedents of logistics outsourcing performance
No full textThe purpose of this article is to present the research results of a study on the impact of the drivers of logistics outsourcing performance: involvement, knowledge sharing, and innovation. The sample was derived from companies in the Slovenian market who choose to outsource their logistics services to logistics service providers. The article also attempts to contribute to the theoretical and methodological findings and managerial implications in logistics outsourcing discussions. On the basis of the existing literature and some new arguments derived from in-depth interviews with logistics experts, the measurement and structural models were empirically analysed on a sample of manufacturing and retail companies involved in an ongoing relationship with a logistics service provider. Measurement scales for the constructs, their development, refinement and measurement for validity and reliability were performed. Multivariate statistical methods (EFA, CFA and SEM – Partial Least Squares) were utilised. Five hypotheses were tested and confirmed. The logistics outsourcing performance (the goal achievement and the goal exceedance) is well explained by involvement, knowledge sharing, and innovation
Trust and the successful coordination of SME co-operation – an empirical study in Slovenia
No full textThis paper aims to investigate the role of trust and test the impact of trust on performance in the context of co-operation between small- and medium-sized enterprises (‘SMEs’) in a transition country. Based on a sample of 122 Slovenian SMEs, an analysis based on OLS regression reveals that trust does have a strong impact on performance. We thereby identify trust as a powerful co-ordinating mechanism for SME relationships involving co-operation in transition economies
The role of women in family businesses
No full textThe role of women in family businesses is explored in the paper. Although recognised as generally very important players, the role of women is oft en defined as invisible in business decision-making, supportive in men’s traditional business domains and only rarely adequately recognised and rewarded. The paper explores possible differences in the views of men and women who manage small family firms. Their attitudes opposing the traditional business roles of women, different views on managerial, ownership and transition issues and possible gender discrimination are examined. The findings support the paradigm of a different, more feminine style of management, while signs of discrimination are not clearly revealed
Achieving a response from fast-growing companies: the case of Slovenian gazelles
No full textNon-mandatory business surveys generally suffer from low response rates and potential non-response bias. Achieving a response is most problematic in small- and medium-sized enterprises because of their scarce human resources. The problem becomes exacerbated in fast-growing companies – ‘gazelles’. The paper addresses the effectiveness of data collection efforts to achieve a response among the top Slovenian gazelles in 2008. We analyse the impact on response rates and data quality. Finally, we look for evidence of non-response bias
The Kyoto protocol in a global perspective
No full textThe global climate has changed notably since the beginning of the Industrial Revolution. Atmospheric concentrations of greenhouse gasses (GHG) have increased dramatically followed by an increase in global average temperature. In order to avoid negative potential outcomes of global warming, countries have adopted the United Nations Framework Convention on Climate Change that has so far been ratified by 192 countries. In 1997 the Kyoto Protocol, a binding GHG reduction plan, was adopted and entered into force in 2005. But several countries, including the USA, have had doubts about the potential negative consequences of the planned 5% global joint reduction of GHG. However, studies generally show that on a macroeconomic level: (1) welfare loss in terms of GDP and lost growth in EU is low; (2) it differs among economies; and (3) permit trading and permit price (in either global or regional markets) is highly correlated with the welfare loss. The main objective of the paper is to describe the attitudes and responses to the Kyoto Protocol from a global perspective. The paper has three objectives. First, to provide an overview of global greenhouse gas emissions and the big drivers behind these emissions. Second, to present where different countries, both developed and less developed countries, such as India, China and the countries of South-east Europe currently stand as regards their efforts to achieve the Kyoto Protocol requirements. Third, to analyse the responses and attitudes to the Kyoto Protocol from a country development perspective
Planned growth as a determinant of the markup: the case of Slovenian manufacturing
No full textThe paper follows the idea of heterodox economists that a cost-plus price is above all a reproductive price and growth price. The authors apply a firm-level model of markup determination which, in line with theory and empirical evidence, contains proposed firm-specific determinants of the markup, including the firm’s planned growth. The positive firm-level relationship between growth and markup that is found in data for Slovenian manufacturing firms implies that retained profits gathered via the markup are an important source of growth financing and that the investment decisions of Slovenian manufacturing firms affect their pricing policy and decisions on the markup size as proposed by Post-Keynesian theory. The authors thus conclude that at least a partial trade-off between a firm’s growth and competitive outcome exists in Slovenian manufacturing