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Milivoj Teodorović and Jovan Popesku

Abstract

The paper analyzes a competitive position of Serbia as a destination in the regional tourism market. The regional market includes Serbia’s neighboring countries enhanced by Austria, Slovenia and Greece to provide a better view of the competitive landscape of the Southeast European region, herein termed the “Extended Balkans”. The gap analysis was applied to the selected number of global secondary indices to highlight the differential effects that impact Serbia’s position in different domains and categories, which in turn, has a profound effect on Serbia’s ability to attract, delight and retain visitors. The emphasis of this theoretical paper is placed on the concept and methodology rather than on the selection of indices. The paper caters to both practitioners and academics by contributing to the literature on destination competitiveness through the lens of the positioning theory.

Open access

Dimitar Anevski and Elena Temelkovska-Anevska

Abstract

The necessity of regulating certain legal and finance systems derives from the possibility that they may have a major impact on essential processes in countries. Therefore, depending on the market conditions and integration intentions of specific political or financial groups, the countries are forced to implement new regulations. Such regulations are different everywhere in the world; there are hundreds of laws and legal acts arising from national and local governments, which cover various aspects of the economy. The paper examines the international capital agreements and legal acts responsible for the stability of the finance sector and its members, which lead to overall stability of a society. Analyzing the contemporary literature reveals the countries which have successfully managed to implement the high-demand criteria.

Open access

Aleksandra Stojaković

Abstract

The growth and development goals of a national economy are successfully achieved through implementation of a properly selected investment policy, and for that reason, foreign investments are one of the main fundamental means for reaching the goals of economic and regional development. The insurance is one of the industries that have gone furthest ahead in globalization of the world markets. The main focus of this article is the insurance industry and economic development of the selected transition countries, some of them already members of the European Union, others still in the EU accession procedure. The importance of the insurance industry can be seen in the results of the displayed types of insurance in the period from 2010 to 2014. Transition countries may expect a significant encouragement to economic development by investments in the insurance industry. The subject of this study is to determine if these expectations are met or the improvements are achieved only in the domain of types and ways of selling insurance products.

Open access

Željko Račić and Nemanja Stanišić

Abstract

In this study, we aimed to analyse the empirical determinants of cash holdings on the sample of non-financial companies operating in the Republic of Serbia. For that purpose, dynamic panel data models were estimated by utilising the generalised method of moments for the period from 2008 to 2013. The econometric analysis indicates that companies with higher cash flow hold more cash in their assets. Larger companies as well as companies with more liquid assets and higher turnover coefficients tend to reduce their cash levels. According to the results, companies operating in the Republic of Serbia tend to hold the optimal level of cash and prefer internal sources of financing, which is in line with the principles of trade-off theory and pecking order theory.

Open access

Nikola Mihajlović

Abstract

With the constantly rising share of online accommodation bookings, finding out how customers perceive the website e-service quality is becoming increasingly important in order to build strong satisfaction and create loyal customers. The main goal of the study was to analyze how Serbian customers perceive the quality of service provided by lodging e-intermediaries. Correlation matrix and multiple regression analysis were used to determine the impact of each of 6 e-service quality dimensions on satisfaction of e-intermediary customers. The questionnaires were distributed during the research period of 3 months (July-September, 2015). The study has shown that only three out of six dimensions have impact on customer satisfaction, comprising 63.9% of total customer satisfaction: reliability, information quality, and personalization.

Open access

Snježana Gagić

Abstract

It is of vital importance to continuously work on the improvement and identification of significant factors to ensure and sustain the desired level of quality. The paper aims to analyze the innovativeness level of restaurants in Vojvodina in view of the fact that it keeps their portfolio competitive and thereby achieves a long-term competitive advantage. The innovativeness level was defined on the basis of the instrument designed for measuring innovation in the field of products and services, marketing, processes and socially responsible behavior. In order to determine the level of innovativeness, it was necessary to first determine the percentage of innovativeness based on the number of innovations introduced by the restaurants in all of the four study areas.

The results show that a significant number of restaurants pays attention to innovations in order to become more appealing to guests and increase their profitability. On the other hand, more than half of the observed restaurants have a very low or low degree of innovation, which indicates that we still do not pay enough attention to innovations and advancement of their business implementation.

Open access

Deasún Ó Conchúir and Lazar Dražeta

Abstract

This paper shares the experience of a virtual team of knowledge workers which coordinates its repetitive production work across 12 time zones using cloud-based workflows.

A sample of process data and the utility that can be obtained from it are discussed, and recommendations are provided for the management of virtual teams using cloud-based workflows.

In addition, possible directions for future research relating to virtual knowledge work teams using cloud workflows are suggested. Some references to related experience for further reading are also given.

Open access

Sead Šadić, Adis Puška and Admir Beganović

Abstract

In today’s modern age, information systems are of vital importance for successful performance of any organization. The most important role of any information system is its information support. This paper develops an information support model and presents the results of the survey examining the effects of such model. The survey was performed among the employees of Brcko Distric Government and comprised three phases.

The first phase assesses the influence of the quality of information support and information on information support when making decisions. The second phase examines the impact of information support when making decisions on the perceived availability and user satisfaction with information support. The third phase examines the effects of perceived usefulness as well as information support satisfaction on user loyalty. The model is presented using six hypotheses, which were tested by means of a multivariate regression analysis.

The demonstrated model shows that the quality of information support and information is of vital importance in the decision-making process. The perceived usefulness and customer satisfaction are of vital importance for continuous usage of information support. The model is universal, and if slightly modified, it can be used in any sphere of life where satisfaction is measured for clients and users of some service.

Open access

Nataša Simeunović, Gojko Grubor and Nenad Ristić

Abstract

This paper presents a real case of digital forensic analysis in organizational fraud auditing process investigated using two different forensic tools, namely Tableau TD3 Touch Screen Forensic Imager and Access Data FTK Imager. Fraud auditing is more of a mindset than a methodology and has different approaches from financial auditing. Fraud auditors are mostly focused on exceptions, accounting irregularities, and patterns of their conduct. Financial auditors place special emphasis on the audit trail and material misstatements. A fraud case investigation of non-cash misappropriations committed by an employee, the warehouseman, will be presented herein in order to highlight the usefulness of fraud auditing, which can reveal many forms of financial crime and can be used in both private and public sector companies. Due to the computerized accounting environment, fraud investigation requires a combination of auditing, computer crime and digital forensic investigation skills, which can be achieved through joint efforts and cooperation of both digital investigator and fraud auditor as proposed herein.

Open access

Klimis Vogiatzoglou and Phuong Nhung Thi Nguyen

Abstract

The paper considers three channels of economic openness, namely FDI, imports, and exports, and examines their short-run and long-run effects on the economic growth in the five founding member countries of the Association of Southeast Asian Nations (ASEAN) over the period from 1980 to 2014. Besides the impact on the economic growth, the authors analyze all possible causal interrelationships to discern patterns and directions of causality among FDI, imports, exports, and GDP. The quantitative analysis, which is based on the vector error correction co-integration framework, is conducted separately for each country in order to assess their individual experiences and allow for a comparative view. Although the precise details differ across countries, the findings indicate that there is a long-run equilibrium relationship between economic openness and GDP in all ASEAN-5 economies. FDI, imports and exports have a significantly positive short-run and long-run impact on the economic growth. Our results also show that export-led growth is the most important economic growth factor in most countries, followed by FDI-led growth. Another crucial finding is the bi-directional causality between exports and FDI across the ASEAN-5 countries. This indicates the presence of direct and indirect effects on GDP and a self-reinforcing process of causality between those two variables, which strengthens their impact on the economic growth.