The central aim of the article is company governance, i.e., researching governance of a company that does not want to be only financially successful but also direct its governance toward socially responsible governance. The article begins with the definition of “theoretical backgrounds,” in which social responsibility in regard to company governance improvement in quality is explained. The article then focuses on the measurement of the quality of company governance; in the research, the selected tool chosen to evaluate the governance of the chosen company regarding social responsibility, i.e., SEECGAN index, is used. Further, the case study of a Slovenian public limited liability company is used. One of the important research findings is the recognition that the addressed part of the SEECGAN index needs to be innovated and further developed. Additional questions for the completion of the index used presents the added value of the article. This article has two limitations: 1) it focuses only on the tool chosen to evaluate the governance of the chosen company regarding social responsibility; 2) the case study is based on publicly accessible data.
The aim of this paper is to show the importance of accounting information for management, especially in medium-sized companies. Sampling was carried out according to the accidental principle, after which we selected 300 medium-sized and large companies. We used the questionnaire, which was standardized and implemented online. Two hypothesis were tested with a chi-square test and contingency table. In this study of Slovenian large and medium companies, we want to find out whether the size of the company has an impact on organizing a specific controlling service in a company and whether, in large companies, heads of accounting are more often members of management than in mediumsized enterprises. We discovered a bias between organizing a specific controlling department and the size of a company, and that large companies have more often organized a special controlling service than medium-sized enterprises. We also discovered the accounting officer’s membership in a company’s management team is not related to the size of a company. The results of the research could be used in controlling in medium-sized companies, where we suggest that management accounting in these companies is part of management decisions.
The purpose of the article is to present the possible regimes of bank resolution in the euro system and to highlight open questions concerning additional capital buffers and the valuation of assets according to the Bank Recovery and Resolution Directive (BRRD). The bail-in tool is used to write down or to convert certain liabilities with the purpose of restoring the capital adequacy. The valuation exercise would determine the amount of loss absorbtion to restore viability of the institution and capital adequacy. The bridge bank tool offers deeper restructuring powers to the competent resolution authority. Sale of the business tool is actually a variation of the bridge bank tool, enabling the resolution authority to transfer assets and liabilities to investors. The asset separation tool always is combined with another tool. The write-down is not a resolution tool, as it affects equity, while a bail-in tool goes further to other subordinated debt and senior debt. It is possible to establish additional resolution tools in the national legislation, as long as these tools are compatible with the principles of directive and national legislation in order to support cross-border group resolution. The issue of bank overregulation and the ability to meet the requirements without negative effects on the economy is emphasized.
The main purpose of the article is to motivate experts and researchers in the field of business informatics and logistics to interdisciplinary integration in order to develop a new concept of an information system that will help to strengthen a company's competitive ability. The article analyzes the research carried out between top managers, strategic managers and managers of logistics in the largest Slovenian companies. Two hundred companies were included in the primary survey; 60 managers were selected in a representative sample and at the end 30 leaders in statistical analysis. We sent questionnaires to our managers via e-mail. The data were processed with the statistical program IBM SPSS Statistics 19, as a method we used linear regression and multiple correlation. With the primary survey, we measured satisfaction of the managers with existing information support for logistics and found that logistical, strategic information professionals need to be even more connected, so that management decisions can then be developed and sustained. On the basis of the obtained data, it can be concluded that sufficient investment of funds in the creation of an appropriate information system fosters the development of business logistics. The originality and value of the article are reflected in the interdisciplinary view of the concept of information support of logistics in the development of new products, in the original connections of various business functions, in the possibility of designing new information solutions and in the sustainable development of new services for the market.
The aim of this paper is to estimate government consumption multiplier and to examine the effect of various characteristics of countries on the size of fiscal multiplier. We apply a panel VAR model following Ilzetzki et al. (2013) for a sample of 28 EU countries covering the period from 1995 to 2017. Key findings are, first, the estimated average fiscal multiplier is larger than unity. Second, the size of fiscal multiplier is larger in the cases of lower public indebtedness, for more developed European countries and for more financially open economies, which is also in line with relevant empirical literature. Regarding the role of trade openness, the results are inconclusive. In addition to this, membership of countries in the European integrations positively affects the size of fiscal multiplier. Therefore, fiscal policymakers should use fiscal stimuli as the instrument of boosting short-term economic growth selectively and consider country-specific characteristics. This paper contributes to the ongoing discussion in two ways, it examines the effect of additional characteristics of countries on the size of fiscal multiplier and updates existing empirical literature.
Social responsibility has received great authorial comments on making business commitments compensatory for corporate profits and/or rent-seeking in host communities. Unfortunately, that voice remains silent on the fundamental component of business responsibility and its improvement, i.e., governance policy. The paper, consequently, recommends a corporate policy for equitable and compensatory corporate citizenship in local communities. To justify the proposition, three objectives are established: proof that social responsibilities can improve with a governance policy, that authoritative policy represents a crucial change in social initiatives execution, and that policy absence incentivises implementation ineffectiveness and commitments paucity. Triangulation of interviews and survey data through SPSS analysis shows statistically significant coefficients validating the claim that corporate governance policy is an enrichment and facilitator of social responsibilities. The proposed policy framework will not only deliver competitive, scientific, objective, and excellent services but also represent a novel and future academic investigation.
In light of globalization and modern business, companies are typically exposed to challenges caused by unpredictable and complex competitive environments. The business environment, with global trends and stringent competition in the world market, now faces significant changes that companies should introduce into their current business operations. Among them, the human resource management of knowledge employees has become extremely important. The main aim of this article is to establish the impact of components of knowledge management on work engagement of employees in Slovenian companies. In the empirical part of the research, a sample of 112 Slovenian companies was obtained. Senior managers of companies and their employees were surveyed, using the questionnaire developed based on existing measurement scales. The results will help us to better understand the importance of knowledge management in Slovenian companies and its importance as a business strategy that must be fully integrated within all of the employees’ related processes of the company.
The main purpose of this paper is to assess a possible impact millennials will have on the future business environment of Industry 4.0, based on their personal value orientations. Millennials are taking over important roles in organizations, but their personal values are significantly different from those of older generations. This paper shows that, based on the Schwartz’s value survey with N=371 Slovenian respondents, millennials are in general more inclined toward values connected to personal growth and freedom from anxiety, emphasizing self-transcendence and openness to change, than toward self-protection and anxiety avoidance, understating conservation and self-enhancement values. These cognitions can have significant implications in shaping the future business environment of Industry 4.0, as it can become more open, understanding, collaborative, accepting, and generally more supporting, thus creating the evident millennials’ effect. Even though millennials are in general well prepared for the future business environment, organizations will have to, in order to retain the millennials, reshape their current organizational environment to better reflect the millennials’ views.
Laura Bertalan, Renáta Inzsöl, Judit Hegedüs and Ferenc Jankó
Direct sales by farmers gained acceptance in Hungary following the incursion of healthy eating and the enhancement of local economic development efforts. Conducting questionnaire surveys and interviews, our research investigated the means through which locally produced goods reach consumers, e.g., short food supply chains, as well as the farmers’ motivations and the necessary developments. According to the main results, personal direct consumer relations are vital for local farmers; however, advanced sales channels are not popular nor fully developed in Hungary. Only the capital city shows some development here, catalysing and stimulating the domestic market and consumer behaviour. On the other hand, the age structure of local farmers or the lack of knowledge hinder the advent of advanced sales channels. Nevertheless, there is a continuous and immanent need for development in this sector; although, the recent conditions of subsidies unfortunately do not support small scale local farmers.
The literature review shows a lack of research on the impact of entrepreneurship education on entrepreneurial competencies in relation to entrepreneurial intentions. Further development of the field is needed, but, because of the shortage of suitable research models or because they only partially cover the complex area of entrepreneurial competencies, the purpose of this article is the formulation of a new, updated research model (based on the existing models). Thus, theoretical research of entrepreneurial competencies based on the competence study has been performed. Through in-depth analysis of existing entrepreneurial competencies research models, a congregated hybrid research model is proposed. A new conceptual research model for studying the impact of entrepreneurship education on entrepreneurial competencies in relation to entrepreneurial intentions has been developed. The model will serve for empirical testing of investigated phenomena. The original contribution is in the formulation of a unique research model and the construction of a customized measuring instrument for studying the phenomena of entrepreneurship education impact on entrepreneurial competencies and entrepreneurial intentions.