Institute of Economic Sciences

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    1955 research outputs found

    AI adoption in higher education: Exploring attitudes and perceived benefits between users and non-users

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    The perceptions about artificial intelligence (AI) benefits and the level of university management support among academicians employed by higher education institutions (HEIs) in Serbia have been evaluated via a five-point Likert scale questionnaire. In total, 312 responses have been collected, and the analysis was conducted between respondents who use ChatGPT in teaching and research activities and those who do not. It is evident that the views between the two groups of respondents are different regarding the relevance of AI tools, especially in research endeavours. Academicians using ChatGPT confirm the relevance of AI in improving efficiency and believe that new educational concepts are comparatively quickly adopted if ChatGPT or similar AI tools are used. The opposite view is voiced by non-users. Both groups expressed mainly negative views regarding the lack of adequate guidelines and instructions regarding the use of AI in research and teaching, and the support provided by academic institutions. There is also an apparent lack of initiatives to organize conferences, workshops and other collaborative schemes with other institutions to disseminate and foster AI knowledge. The ramifications of our research are relevant not only for HEIs, but also for policymakers

    Environmental Efficiency of Agricultural Enterprises in Serbia: A Panel Regression Approach

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    The agricultural sector is a cornerstone of Serbia’s economy, ensuring national food security and contributing significantly to GDP, but it also generates notable environmental pressures, particularly through air and water pollution. This paper investigates the impact of agricultural enterprises’ environmental pressures on their financial performance between 2011 and 2021. The sample comprises 52 of the 63 agricultural enterprises listed in the national PRTR register as major air polluters in Serbia. Using enterprise-level data, environmental performance is measured through air emissions relative to revenues, while profitability is captured by return on assets (ROA). Panel regression analysis is conducted with Dynamic Ordinary Least Squares (DOLS) and Fully Modified Ordinary Least Squares (FMOLS) estimators to assess the long-run relationship between eco-efficiency and financial outcomes. The results show that reductions in environmental pressure are associated with improved profitability, highlighting the trade-offs and synergies between ecological responsibility and economic performance. These findings underscore the importance of promoting eco-efficiency as both a managerial strategy and a public policy priority, offering evidence to support Serbia’s alignment with EU environmental and agricultural sustainability goals

    Consumer online shopping behaviour in the Republic of Serbia post-COVID-19

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    The COVID-19 pandemic has drastically changed the way individuals and companies function. Several authors investigated consumer behavior after the appearance of the virus. However, no study in Serbia examined online shopping patterns after the pandemic, i.e., after the official declaration of the end of the pandemic by the World Health Organization in May 2023 (post-COVID-19). The aim of this paper is to explore whether there is a significant association between purchasing online before and in the post-COVID-19 period, as well as between consumer age and location and purchasing behavior in the postCOVID-19 period. The data of 298 respondents from Serbia was collected during January 2024. The Chi-square test results indicated a relationship between online shopping habits before and after the pandemic, with 73% of previous non-online shoppers adopting ecommerce in the post-pandemic period. However, the results also revealed no significant association between age or location and the decision to shop online after the pandemic. The study suggests that businesses should prioritise enhancing online shopping platforms, as many consumers have continued or begun using them. Furthermore, it recommends that businesses implement broader, more uniform strategies. Moreover, the study provides a theoretical contribution by expanding knowledge on consumer behavior in the postpandemic period

    A novel approach to measuring digital entrepreneurial competencies among university students

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    This study aims to develop a model for evaluating digital entrepreneurial competencies (DEC) among Serbian university students and to identify the factors that influence their DEC levels. A quantitative research design was employed, using a structured questionnaire based on the EmDigital framework, with responses collected from 149 students. The data were analyzed using descriptive statistics, non-parametric tests (Mann-Whitney U and Kruskal-Wallis), and Poisson regression to explore relationships between socio-demographic, contextual, and institutional variables and DEC levels. The key findings reveal that employment status, level of study, field of study, and the mother's educational background significantly affect DEC. Students who are more likely to attain higher DEC levels are those who are employed, pursuing undergraduate degrees, studying information technology, and whose mothers have completed high school. These results provide valuable insights for educators and policymakers seeking to enhance DEC in alignment with market demands

    Decoding financial markets: Empirical DGPs as the key to model selection and forecasting excellence – A proof of concept

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    In this study we demonstrate whether information about the empirical data generating process (DGP) can optimise quantitative model selection and present a proof-of-concept. We derive the empirical DGP characteristics of nine (financial) time-series and interpret these as model requirements. These insights are tested via a comparative cascadic out-of-sample prediction scheme to demonstrate potential outperformance. The empirical DGP characteristics of (denoised) daily adjusted logarithmic returns are extracted with a nonlinear dynamics analysis framework. Thereinafter, various forecasting models and error metrics are implemented for the non-filtered returns. The models’ out-of-sample performance is subsequently ranked across these multiple metrics. Finally, we assess the models’ alignment with the empirical DGPs. Our results show that all time-series exhibit very similar dynamics, independent of the underlying asset class. The dynamics are characterised by a mixture of deterministic (hyper-)chaotic and stochastically imbued quasi-periodic motions. Further, these dynamics are visualised through the reconstructions of the strange (fractal) attractors of the time-series. Models that capture the dynamics best outperform standard benchmarks and other state-of-the-art methods. Nonetheless, we have to state an overall lack of suitable DGP-conform models. Finally, we critically discuss the robustness, sensitivity and implications of our approach and findings

    The Impact of the Tax System on Serbia's Competitiveness

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    Foreign direct investment (FDI) is an effective strategy for exploiting a country’s competitive advantages. This paper aims to assess the importance of certain factors of the tax system for the activity of foreign investors in Serbia. In particular, it aims to determine how the national tax structure affects Serbia’s ability to improve its competitiveness in attracting FDI. The research was conducted in the second quarter of 2023 and included an online survey of 88 foreign companies that had invested in Serbia between 2001 and 2019. The study used the one-way analysis of variance (ANOVA) and the independent samples t-test. Four factors were analysed, namely the tax rate and the corporate tax base, as well as the tax rate and the personal income tax base. The results show that the corporate tax rate is the most important factor influencing the decision of foreign investors to invest in Serbia

    Is it about me or my partner’s personality? Personality traits as correlates and predictors of jealousy in couples

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    A high number of studies on romantic jealousy in heterosexual couples has accumulated in the past decades, including those intended to explain how this phenomenon relates to personality traits. This study aimed to advance current knowledge by using the HEXACO model supplemented by the Disintegration trait and presenting novel findings on how these traits in couples relate to their own and their partners’ (cognitive, behavioral, and emotional) jealousy while also assessing traits’ explanatory power for each aspect of jealousy. The HEXACO-PI-R Inventory, the DELTA-20 instrument, and the Multidimensional Jealousy Scale were administered to the sample of 400 heterosexual participants (200 couples dating or being married), and the correlations and the Actor-Partner Interdependence Model (APIM) were applied. As the APIM showed, both women and men tend to have higher levels of cognitive and emotional jealousy if they score lower on Honesty-humility. Women tend to achieve higher scores in cognitive and emotional jealousy if they score higher in Emotionality. Men tend to score higher in all aspects of jealousy if their partners score lower on Agreeableness. Low Openness in men may contribute to behavioral jealousy in women, while high Disintegration in women could facilitate the development of emotional jealousy in men. In general, the effects of a partner’s personality traits on jealousy in women were weaker compared to the effects on jealousy in men

    Assessment of the capacity of local youth offices for the implementation of YG in Serbia

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    The impact of financial determinants on investment activity and development capacity of local self-government units

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    The investment activity and development capacity of local self-government units are influenced by a diverse set of financial determinants. Due to their frequent interdependence, assessing their joint effect is essential to accurately determine their impact on the realization of local capital projects. The paper empirically examines the impact of carefully selected financial determinants, including revenues per capita, public debt, the level of self-financing and fiscal autonomy, on the percentage share of capital expenditures in total expenditures of the 10 most indebted local self-government units in the Republic of Serbia, covering the period from 2011 to 2023. The empirical findings indicate that revenues per capita have a dominant impact on investment activity, suggesting that the actual fiscal strength of local self-government units is the most crucial factor in the realization of capital projects

    An assessment of the socio-economic impact of water access for Roma and other marginalized groups in rural Serbia

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    This paper uses survey data aiming to assess the socio-economic impacts of providing water supply access to selected group of low-income communities in rural Serbia. Employing a mixed-methods approach, we have collected quantitative and qualitative data from beneficiaries of the water supply program to evaluate changes in quality of life, hygiene, nutrition, and new opportunities arising from reduced time spent on water collection. Results indicate that 94.6% of participants reported improvements in their quality of life, with an average satisfaction score of 8.8. Key benefits included enhanced hygiene and increased time for education and income-generating activities, though non-returnees exhibited higher satisfaction levels compared to returnees, highlighting persistent challenges for the latter group. The paper concludes that integrated strategies are essential to address both water access and broader socio-economic challenges. Recommendations for policymakers include the development of targeted interventions to improve infrastructure and support initiatives that facilitate employment and education

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