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The rise of corporate activism: a double-edged sword for multinational corporations
Get PDFIt seems that multinational corporations in the “VUCA era” have moved
quite rapidly from a state of “apathy” to a state of “activism” when it comes
to socio-political and environmental issues. Their leaders are increasingly
expected to express views on climate change, gender equality, political trends,
and similar topics that, mostly, are not necessarily related to their core
business operations, and the silence - that in certain cases may be the only
response - often causes more complex, multiple, and unforeseeable negative
consequences for corporations than any stated attitude. Therefore,
corporations’ decision-makers are expected to be intelligent and insightful
enough, as well as to react quickly. The aim of the research is to examine the
controversial two-sidedness of corporate activism as an emerging
phenomenon. The subject of the research refers to the analysis of (in)direct
business effects caused by socio-political and environmental statements and
public appearances of corporations and/or their CEOs. The result of the
research is reflected in the presentation of the potential impacts of such
activities on the performance and reputation of corporate brands; in a review
of corporations’ employees and consumers consequent behavior; and in the
analysis of the relations of corporate activism with BA, CSR, and CPA as
similar but independent phenomena
Identifying Medium-Sized Agricultural Enterprises with the Greatest Potential for Innovation Development
Get PDFThe aim of the research is to identify medium-sized agricultural enterprises with the greatest potential for innovation development. The subject of the research is the key financial performance of the observed enterprises in 2017. Data were obtained from official financial statements publicly available on the website of the Serbian Business Registers Agency (SBRA). The aim of the research was realized by applying financial analysis methods and the Altman Z-score model. The purpose of the research is to improve the efficiency of limited funds for financing innovative activities in the agricultural sector. The research results are data on enterprises with negligible probability of bankruptcy and which thus have the greatest potential for innovation development
The Overview of ECB's and NBS' COVID-19 Containment Measures
Get PDFThe COVID-19 influenced crisis represents an unprecedented event that
has to some extent affected all segments of the economy of countries
worldwide. The outburst of the contagious coronavirus and its adverse
effects did not bypass the banking sector, which has consequently faced \ud
numerous challenges. Although the banking sector usually played a
central role in periods of global instability, primarily as a vital part of the
problem, during the ongoing pandemic, it has been perceived as a part of
the solution. To strengthen the liquidity of national banking systems and
ensure the smooth transmission of monetary policy measures, central
banks have resorted to a wide range of conventional and unconventional
measures and activities. Given the context, the chapter aims to present
and analyze the impact of measures ECB and NBS have undertaken to
mitigate the adverse effects of the crisis triggered by the outburst of the
contagious coronavirus. Research results indicate that ECB primarily
resorted to injecting additional liquidity through the temporary asset
purchase program (PEPP) worth 1,850 billion EUR and lowering key
interest rates at historically low levels to encourage lending and reduce
borrowing costs. Analogously, NBS responded to the crisis along with the
first measures of the Government of the Republic of Serbia by reducing key
policy rate and providing additional domestic and FX liquidity to the
banking sector. By providing deeper insights into the key activities ECB and
NBS have undertaken to mitigate the COVID-19 crisis adverse effects, the chapter contributes to the growing body of literature in the field of central
banking and monetary policy
Performance changes of the Tourism Sector in the Crises
Get PDF: Tourism represents a driver of economic growth and job creation all around the world. It has
become one of the key factors of progress, not only of the individual destinations and regions but also
the world economy. The paper aims to analyze the effects of different types of the crisis on the volume
of tourism activities, tourism turnover, and revenues in the tourism sector. Despite occasional crisis
situations and shocks, tourism has seen continued expansion and has shown great resilience. Having in
mind that the COVID-19 pandemic has a major impact across world regions, as well as tourism is one
the hardest-hit sectors, a special part of the paper analyzes the impact of the health crisis in Serbia and
the global level. The intensive and deep impact of the pandemic on the tourism sector requires strong
support at the national and global levels through the relevant institutions
The Use of Social Media for Education and Digital Competence Enhancement Among Youth in Serbia
Get PDFIntensive development of information technologies has caused
changes in all social segments, including education. The need to revise educational
practices arose as a consequence of the fact that there is a growing need for
individuals who possess advanced ICT skills in the global labour market. Given that
most educational practices in Serbia are still based on traditional learning methods,
the need to bridge the gap between practical skills and theoretical knowledge is a
constant challenge. Greater success in the implementation of e-education in
traditional educational practices in Serbia could be achieved by using social media as
software that most young people perceive as a natural environment. Through a review
of the existing body of knowledge, this paper considers the benefits of using social
media in educational practices. In order to gain insight into the attitudes of students in
Serbia regarding the application of social media in education, an empirical research
was conducted. Based on the obtained results, conclusions and recommendations for
future research were presented
Easterlin Paradox Revisited: do Increases in Income Bring Higher Levels of Income Satisfaction?
Get PDFIn this paper, we examine the relationship between income and
income satisfaction in the pool of developed European economies, for the period
between 2002 and 2018. Although the nexus between income and most subjective
well-being indicators is frequently investigated in prior studies, the research
investigating the relationship between income and income satisfaction over time
is non-existing. We find that during the observed period real disposable household
income significantly increased, while the satisfaction with household income
remained constant. Furthermore, the analysis within hierarchical linear modeling
shows that while between-country variations in income affect income satisfaction,
this is not the case for income variations over time. Our findings support the notion
of the Easterlin paradox, which indicates that in the long-run increases in income
do not lead to higher levels of well-being. Explanations for such results may be
found in the social comparison theory, hedonic adaptation theory and aspiration
level theory: increasing income does not bring positive effects on income satisfaction
due to relevance of the relative and not the absolute income, adaptation to income
changes, or higher levels of aspirations resulting from income rise
The Relationship Between Innovation, Foreign Direct Investment and Economic Growth in the Selected EU and EU Candidate Countries
Get PDFThe aim of this paper is to investigate the cause and effect
relationship between economic growth, innovation (R&D expenditure) and
foreign direct investment (FDI) for the selected EU members (Bulgaria,
Croatia, Hungary, Romania, Slovakia, and Slovenia) and EU candidates
(North Macedonia, Serbia, and Turkey) for the period 2000 - 2017.
Additionally, we analysed innovation by using Summary innovation index,
Capacity innovation index, and Global innovation index. All three indexes
show that Slovenia is best ranked by innovation. According to Summary
innovation index countries such as Bulgaria, Romania and North Macedonia
are “modest innovator” countries, while Slovenia, Slovakia, Hungary, Serbia,
Turkey, and Croatia belong to “moderate innovator” group of countries.
According to Capacity for innovation index, Serbia shows the lowest capacity
for innovation, although a considerable growth of this index has been recorded
since 2012. Global innovation index shows that Serbia and North Macedonia
have the lowest values of this index. The results obtained by using Granger
causality test reveal that a two-way relationship exists between economic
growth and FDI, economic growth and innovation, and FDI and innovation
Covid-19 impact on cultural and natural Pan-European thematic routes
Get PDFAlthough the definitive effect is not measurable yet, it is evident that
the hospitality and tourism sectors have endured the greatest pressure
in the coronavirus pandemic crisis. This paper presents the analysis of
the impact of the crisis on the thematic tourism routes. The emphasis is
placed on investigating the impacts on market structure and seasonality,
being the external dimensions, and on employment and cost-controlled
measures as instruments of the internal management dimension. The
case study analysis employed is based on the empirical examples of
Pan-European thematic routes titled “Roman Emperors & Danube Wine
Route” (RER & DWR) and “Via Dinarica Route” (VDR). The paper also
discusses models of various scenarios for business recovery and further
development. The findings show that COVID-19 has had a minimal impact
of -2% on employment in the thematic routes and that massive cost
control measures have been predominantly aimed at fixed operational
costs. Thematic routes have experienced a decrease in operating time of
up to 50%, and at the same time are undergoing market restructuring,
with domestic and regional guests being the leading segments. Research
further shows that the most needed form of government support through
crisis mitigation measures is destination promotion support, followed by
wage support and utility cost reduction
Finansijske performanse preduzeća u turističkom sektoru Srbije u uslovima COVID-19
Get PDFCilj rada je analiza efekata krize prouzrokovane virusom Covid-19 na
poslovanje globalnog i nacionalnog turističkog sektora. Poseban doprinos rada se
odnosi na analizu uspešnosti poslovanja odabranih srednjih preduzeća u Srbiji koja
posluju u sektoru Usluge smeštaja i ishrane, za period 2015-2020. godina. Rezultati
istraživanja pokazuju značajno smanjenje ukupnih prihoda analiziranih turističkih
preduzeća u 2020. godini, što je trend grupe preduzeća u celom sektoru Usluge
smeštaja i ishrane u Srbiji. U periodu 2016-2019. godina, kod većine analiziranih
preduzeća je prisutno i povećanje i smanjenje ukupnih prihoda na godišnjem nivou.
Prihodi od premija, subvencija, dotacija i donacija su povećani u 2020. u odnosu na
2019. godinu na nivou privrede Srbije, ali i kod većine analiziranih preduzeća i
odnose se pre svega na pomoć države radi ublažavanja poteškoća u poslovanju koje
je prouzrokovala pandemija Covid-19. U 2020. godini je na nivou grupe analiziranih
turističkih preduzeća zabeleženo povećanje broja preduzeća koja su godinu završila
poslovnim gubitkom i neto gubitkom, što je trend i na nivou celog turističkog
sektora. Manji broj analiziranih preduzeća je ostvario neto dobitak u 2020. godini,
dok su samo dva preduzeća istu godinu završila poslovnim dobitkom i neto
dobitkom
Environmental Aspect of Managing Innovation in the Construction Industry – the Example of Serbia
Get PDFThe perception of the environmental
aspect in the construction industry is a necessity for
the management of innovation in the companies of this
industry. Construction industry has a great impact on
the environment, especially in terms of energy
consumption and energy saving. This study
empirically analyses companies in the construction
industry in Serbia with the aim to investigating how
the application of the energy certification process
indicates environmental benefits and improves the
innovation behaviour of these companies. The results
are important for the management of the construction
industry