Institute of Economic Sciences

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    1955 research outputs found

    Online Environmental Disclosure Practice Among Big Polluters in Serbia

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    This chapter aims to analyze the online environmental disclosure practice by big polluters in Serbia. The analysis was based on a sample of 69 companies, classified into five affiliation sectors, from the Pollutant Release and Transfer Register (PRTR). The results show that big Serbian polluters still use the traditional management approach since the level of disclosure is less than 30%. To quantify the level of disclosure, Environmental Disclosure Index was employed, containing 15 variables. Most of the analyzed companies on their websites disclosed their environmental certification, environmental policy, and waste management and reduction, while the less informed variable was pollutant types and emissions. Also, the results show that big polluters in Serbia are willing to disclose only positive environmental activities and results

    Open Innovation Strategies in Engineering Education

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    This article considers two approaches to improving engineering education through open innovation: one focuses on informal educational activities through organizing student competitions and hackathons, and the second focuses on implementing project-based learning in formal education. The main goal is to compare the effectiveness and implementation challenges of the two proposed strategies. Both approaches were implemented at the University of Belgrade, Faculty of Organizational Sciences, for teaching and learning the subjects in IT education, namely blockchain technologies and IoT. The results show that both approaches provide good results and positively affect learning outcomes and students' motivation. We analyze the advantages and challenges of each of them in detail and provide guidelines for their implementation

    Political environment as a factor of foreign investment in Serbia

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    The purpose of the paper is to research the influence of political environment factors on the inflow of foreign investments in Serbia. Keeping in mind that many countries in Southeast Europe find themselves in a situation where foreign investments are a necessity and a need for whole economic development, this research focused on Serbia owing to its results in foreign investment attraction during a transition period. Primary data collected using a survey technique on 88 foreign companies that invested in Serbia from 2001 to 2019 were analysed using a quantitative methodology (ANOVA and t-test). The results indicate that the stability of the government and the rule of law are the most important conditions for foreign investors in Serbia. This research’s originality is reflected in the primary data and research results obtained

    Gender Inequality in Education and Science: The Case of Serbia

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    The research in the paper is directed towards the study of gender equality in science and education, with a focus on science and research activities in Serbia. The aim of the research conducted is to identify certain anomalies indicating the presence of a gender gap in education and science and to compare the trend in the domain of gender inequality with the one detected in Europe. Descriptive statistics is used in the research. The data is collected from various sources and the relevant literature that explores the gender gap in education and science, primarily focusing on the publications of the Statistical Office of the Republic of Serbia (SORS). The research proved the presence of gender inequality in science and research activities in Serbia. In fact, the gender segregation that is present in the education system is also reflected in the field of science. The research also confirmed the existence of vertical segregation, manifested through women's extremely modest participation in management positions of institutes and faculties

    Komparativna analiza nacionalnih inovacionih performansi: zemlje Zapadnog Balkana u kontekstu Evropske unije

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    Evropska unija je u svojim strateškim dokumentima prepoznala inovacije kao glavni pokretač ekonomskog rasta i kao sredstvo za prevazilaženje brojnih izazova sa kojima se suočavaju ekonomije i društvo. U ovom radu sprovedena je komparativna analiza inovacionih performansi između zemalja kandidata za članstvo u Evropskoj uniji iz regiona Zapadnog Balkana. Takođe, utvrđen je stepen zaostajanja kandidata za inovacionim učinkom ostvarenim na nivou Evropske unije. U te svrhe korišćen je Evropski semafor inovacija u okviru kojeg se inovacije posmatraju u četiri oblasti i dvanaest dimenzija. Rezultati istraživanja su pokazali da se sve zemlje Zapadnog Balkana nalaze u grupi Narastajući inovatori, pri čemu samo Srbija ostvaruje performanse koje su iznad proseka grupe, sa velikim izgledom da u dogledno vreme pređe u kategoriju Umereni inovatori. Rezultati istraživanja mogu da posluže kao osnov za usmeravanje budućih aktivnosti podrške podsticanju inovacija u zemljama Zapadnog Balkana

    The impact of clustering on competitiveness and business performance of SMEs: evidence from the Serbian automotive industry

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    Clusters are widely regarded by scientific researchers and policymakers as effective tools for addressing the size constraints faced by SMEs. The increased involvement of local SME suppliers in supply chain restructuring has led to the extensive adoption of clusters in the automotive industry. Despite a wealth of literature supporting the economic advantages of clustering, the absence of quantitative evidence has constrained policy support for cluster development in numerous developing countries. This research aims to empirically compare the performance of clustered and non-clustered SMEs within the same industry. The primary objective is to quantify the impact of the Serbian Automotive Cluster on the competitiveness and business performance of Serbian automotive SMEs. Utilizing Stochastic Frontier Analysis and statistic tests, the methodology examines a balanced panel of 29 SMEs in Serbia’s automotive industry spanning from 2016 to 2018. The impact of clustering is analysed in terms of efficiency and effectiveness, crucial dimensions of business success. Total revenue is used to measure efficiency, reflecting an integral competitive indicator. Effectiveness is assessed using profitability indicators such as profit margin, asset turnover ratio, and return on assets. The research reveals that clustered SMEs in the automotive industry exhibit higher efficiency (competitiveness) and effectiveness (profitability) compared to non-clustered SMEs. The proposed methodology holds significance for evidence-based policymaking, providing empirical support for cluster policy. The paper introduces a novel quantitative assessment methodology for gauging the impact of clusters on SME members’ competitiveness and business performance. The unique approach adds value to the paper, as similar methodologies have not been previously applied in assessing the impact of clustering on efficiency and effectiveness, fundamental dimensions of business success. The suggested methodology holds importance due to its potential applicability in evaluating how clusters influence the performance and competitiveness of SMEs across diverse industry sectors in developing nations. Acknowledging the limitations of our research, notably the small sample size that focused solely on SMEs with publicly available financial statements, excluding numerous enterprises from the analysis, we underscore the significance of clustering in enhancing the business performance of SMEs in the automotive industry. This emphasizes the need for additional research in quantitatively measuring the impact of clusters, paving the way for further exploration in this direction

    Economic Measures for Mitigation of the Consequences of COVID-19: evidence From Serbia

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    The outbreak of global health and, consequently, the economic crisis caused by the COVID-19 pandemic interrupted five years of positive economic trends in Serbia. To preserve economic stability, the government of Serbia took appropriate measures and provided support to micro, small, and medium enterprises. The chapter aims to evaluate the packages of economic measures introduced to reduce the negative consequences caused by the pandemic. The research covers the period from 2015 to 2022 (i.e., before and during the crisis and after the adopted economic measures). The analysis is based on officially adopted economic measures with a combination of macroeconomic statistical data and forecasts from the Ministry of Finance of the Republic of Serbia and the Fiscal Council of the Republic of Serbia. The results of the research indicate that the crisis caused by the COVID-19 virus did not cause a significant drop in economic activity in the Republic of Serbia, primarily due to the extensive package of aid to the economy, which amounted to 12.5% of GDP

    Competitiveness Factors of Serbian Tourism

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    According to the concept of authenticity, competitiveness of a tourist destination depends on the complex interdependence of numerous destination components and their interaction with the visitors of the destination. The global standard for measuring competitiveness of countries is the TTC Index of the World Economic Forum, the ranking list where Serbia holds a relatively weak position. This position has been cyclically improving and deteriorating, and opposite trends of indicators within individual sub-indices also contribute to this, suggesting that activities are uncoordinated. The Tourism Development Strategy of Serbia (TDS), as an umbrella document to coordinate efforts to develop and improve the competitiveness of Serbian tourism, identifies priority products and destinations in Serbia. Such established priorities should contribute both to the coordination among key stakeholders and, consequently, to competitiveness in the international market. The analysis conducted in this paper indicates that TDS has only partially identified the products and destinations chosen by visitors

    Komparativna analiza regionalnih inovacionih performansi u Srbiji

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    Polazeći od rastućeg značaja i uloge regionalnih inovacionih sistema, cilj rada je komparativna analiza regionalnih inovacionih performansi u Srbiji, te identifikovanje dispariteta u nivou ostvarenih inovacionih učinaka. Za potrebe analize korišćene su vrednosti indikatora inovacionih performansi za 2021. godinu dobijene primenom metodologije Evropske komisije ,,Regionalni semafor inovacija", u okviru koje se inovacije posmatraju u četiri oblasti i dvanaest dimenzija. Rezultati analize su pokazali da u Srbiji postoji izražena regionalna neujednačenost u pogledu ostvarenih inovacionih performansi, odnosno da Region Beograda, koji je svrstan u grupu Umereni inovatori, značajno prednjači u većini indikatora, odnosno posmatranih oblasti i dimenzija inovacija u odnosu na preostala tri regiona koja pripadaju grupi Narastajući inovatori +. Najizraženiji dispariteti identifikovani su u dimenzijama ljudski resursi, atraktivan istraživački sistem, ulaganja, finansije i podrška, digitalizacija, upotreba IKT, i veze i uticaj na zaposlene, dok su najmanje razlike između sva četiri posmatrana regiona utvrđene u dimenzijama uticaj na prodaju i intelektualna imovina

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