<abstract xmlns="http://www.w3.org/1999/xhtml">Over the last few decades, entrepreneurial alertness has established its place as one of the central concepts in entrepreneurship research. It implies one’s ability to identify opportunities that are overlooked by others and as such plays an important role in the process of opportunity discovery and creation. Entrepreneurial alertness is theoretically set as a multidimensional construct that comprises of scanning and searching for new information, associating and connecting seemingly unrelated pieces of information and making evaluations and judgments about potential opportunities. The purpose of this study is to explore the notion of entrepreneurial alertness among the youth in order to identify its relationship with metacognitive knowledge, metacognitive experience, perception of self-efficacy and entrepreneurial intention. The aim is to provide suggestions and guidelines to scholars and educators about the ways entrepreneurial alertness can be developed and enhanced through teaching methods as well as specific activities offered to students during their university study. The sample includes 206 business students on the undergraduate and graduate level majoring in seven different areas (financial management, marketing, general management, trade and logistics, business informatics, entrepreneurship and economic policy and regional development). Statistical methods applied in the data analysis included correlation analysis, factor analysis and analysis of variance (ANOVA). The results showed a statistically significant positive relationship between entrepreneurial alertness and all four preselected variables: metacognitive knowledge, metacognitive experience, perceived self-efficacy, and entrepreneurial intent. Various student activities outside the classroom contribute to higher levels of students’ entrepreneurial alertness. However, not all activities equally contributed to the development of students’ metacognitive knowledge. Students who volunteered in local non-profit organizations, did an internship in a company that operates in Croatia, participated in providing consulting services to small and medium businesses and took part in national case study competitions demonstrated higher levels of metacognitive knowledge. Finally, the paper provides suggestions to scholars, educators and policy makers in the field of entrepreneurship and education.</abstract>

Decoding the Entrepreneurial Capacity: the Case of Entrepreneurial Alertness

<abstract xmlns="http://www.w3.org/1999/xhtml">COVID-19 represents not only public health emergency but has become a global economic problem. It has affected all economic sectors threatening global poverty. The important question that arises is what catalyses the spread of the disease? In this paper the relationship between population density and spread of COVID-19 is observed which is goal of the paper. For the purpose of the analysis the correlation between the population variables and COVID-19 variables on a global country level (209 countries) and regional level of individual countries with the most cases of infection is observed. The results have shown that on a country level variable population is statistically significant in all regression models for total cases, deaths and total tests variables whereas variable population density was not. The research results from this paper can be important and relevant for economic and health policy makers to guide COVID-19 surveillance and public health decision-making.</abstract>

Does High Population Density Catalyze the Spread of COVID-19?

<abstract xmlns="http://www.w3.org/1999/xhtml">Rapid tourism development accompanied by exponential increase in the number of tourists and visitors in destinations can disrupt the life of destination residents and negatively affect their support for (future) tourism development. On the other hand, residents economically dependent on tourism might have different attitudes toward tourism in comparison to those who are not economically involved in tourism. Several studies have found that economic dependence on tourism induces more positive perceptions of tourism impacts and higher degree of support than non-dependence. Another potential valuable predictor of tourism support could be residents’ subjective well-being, enhancing our understanding quality of life under the influence of tourism. The purpose of this study is to better understand local residents’ support for tourism development by exploring their well-being, involvement in tourism activities and perceived overall value of tourism development. In order to gain a specific perspective of island tourism destination, a sample of residents living on a small Adriatic island Vir (Croatia) was chosen. Vir is high seasonal and mature destination with annual number of visitors around 30 times bigger than the number of permanent residents. It was found that those residents who are directly or indirectly economically benefiting from tourism have significantly higher scores in personal and national well-being domains and also exhibit higher support towards future tourism development, than those who don’t experience economic benefits from tourism. Regression analysis of an island well-being perception index, revealed that tourism generates more benefits than costs and economical involvement in tourism positively affect residents’ tourism development support. On the other hand, demographic predictors (age, gender, education, income) and personal well-being index are not associated with tourism development support. The results provide important insights for researchers and practitioners on understanding residents’ perceptions of tourism in mature destinations and how those perceptions can be related both to subjective well-being and the level of involvement in tourism activities.</abstract>

Faculty of Tourism and Hospitality Management

Business School, University of Technology, Sydney

Griffith Institute for Tourism (GIFT), Griffith University

Well-Being and Residents’ Tourism Support – Mature Island Destination Perspective

<abstract xmlns="http://www.w3.org/1999/xhtml">Constant current account deficit in Bosnia and Herzegovina results from a large foreign trade imbalance, which in turn is a consequence of uncompetitiveness of the economy in the global market. The current account deficit is mainly financed by foreign remittances, foreign aid, and least of all by foreign investment. Lately, the outflow of the active, working population has been decreasing the labor force (especially the qualified and highly educated employees), as well as the domestic demand, which will exert further pressure on the balance of payments account. On the other hand, monetary policy is operating under the principles of currency board, i.e. applying a firm exchange rate, so the question arises whether and to what extent it is sustainable, under the conditions of a high current account deficit. The purpose of this paper is precisely to examine the relation between the deficit of balance of payments and the sustainability of the currency board arrangement in Bosnia and Herzegovina, under such conditions.</abstract>

Balance of Payments Deficit and Currency Board Arrangement Sustainability in Bosnia and Herzegovina

<abstract xmlns="http://www.w3.org/1999/xhtml">The subject of this paper is the analysis of the classification of economic systems. The traditional classifications of capitalist, socialist centrally planned, and socialist market systems, and the newer classification of variants of capitalism into the Anglo-Saxon, European continental, and Asian models, are inadequate to explain new phenomena in a globalized economy. After the collapse of central planning, countries in transition became a category describing processes of deep socio-economic transformation. These transition countries aspired to meet the standards of developed European market economies, as well as governance standards regarding democracy, human rights, and the rule of law. A new classification of economic systems by Balcerowicz (2014) combines the traditional classification of economic systems with the characteristics of well-governed democratic societies in order to come up with a matrix that shows the interaction of economic system characteristics and governance outcomes.This paper builds on Balcerowicz’s classification by introducing and delineating the categories of state capitalism, crony capitalism, and state capture in order to provide a new classification of economic systems. It uses these concepts to empirically analyze the transition countries, with special reference to states aspiring to EU membership and the new EU member states. The methodology used is analytical and empirical. The results find that the transition is incomplete, especially in terms of governance, leading to the hypothesis of a ‘mid-transition trap’, similar to the much discussed ‘middle-income trap’. The results should lead to further, more refined research.</abstract>

Faculty of Transport and Traffic Engineering

Incomplete Transition – Is there a “Mid-Transition Trap”?

<abstract xmlns="http://www.w3.org/1999/xhtml">The paper focuses the applicability of political cycles theories in specific circumstances of economies in transition which are at the same time the new democracies. Economic and political transition in these countries change both people’s and politicians’ preferences, institutions and generate specific politically motivated misuse of economic policymaking. Theories of political cycles in macroeconomics have been developed since 1970s, when the fact that policymakers could use economic policy as an efficient tool for increasing their chances for reelection became obvious. In countries with parliamentary democracies, incentives of policymakers to influence election results could be opportunistically motivated (opportunistic models) or ideologically motivated (partisan models). On the other side, voters could be naïve or rational, with different economic outcomes, as argued in extensive political cycles literature. The paper studies specific political motives of politicians in transition economies which are faced, especially in first fazes of transition with weak institutional mechanism and rules, and naïve voters. Consequently, opportunistic motives dominate ideological ones. The paper also focuses how the development of the institutional environment, especially in the context of international integration, such as accession to the European Union, reflects on the political business cycles in these countries.</abstract>

The Applicability of Political Business Cycle Theories in Transition Economies

<abstract xmlns="http://www.w3.org/1999/xhtml">The R&amp;D processes generate knowledge and enhance innovation activity. Knowledge and ideas developed by one agent may spill over to and can be used for economic and acquired by other agents. The results of these processes are known as the R&amp;D spillover effects. Factors, that have influence on innovation diffusion, and determine the place of the R&amp;D spillovers in knowledge-based economy have been investigated in the article. The definition and types of knowledge have been examined. The relationship between the R&amp;D cooperation, different types of knowledge, knowledge spillovers and innovation have been traced. The main objectives of the paper are to consider the concept of the R&amp;D spillovers and connection between different types of knowledge and the R&amp;D spillover effects. Systematic comparative analysis, synthesis and generalization of the scientific literature have been carried out in order to create the theoretical background of the research of the R&amp;D spillovers and innovation. The qualitative research methods have been employed to investigate relationship between the R&amp;D spillovers and different types of knowledge. The R&amp;D positive effect of spillovers on innovation activity, promotion of cooperation between different agents (individuals, business entities, organizations, and countries), spreadability and access to knowledge on nonprofit basis and enhancement of innovation diffusion have been identified.</abstract>

The R&amp;D Spillovers, Innovation and Knowledge-based Economy

AHEAD OF PRINT

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Volume 25 (2022): Issue 2 (November 2022)

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Volume 22 (2019): Issue s2 (December 2019) Special Conference Issue

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Zagreb International Review of Economics and Business

 ZIREB is an international journal of economics and business. It covers wide range of topics in macroeconomics, microeconomics, management, marketing and tourism. In general, it delivers relevant scientific research in the field of economics and business and offers empirical insights on current economic development and political economy issues as well as on current developments in marketing, tourism and management research.  ZIREB is edited by Faculty of Economics and Business in Zagreb and it is managed by a team of academic researchers from universities all over the world.  ZIREB is published as a semiannual journal by the Faculty of Economics and Business in Zagreb. The first issue was published in May 1998. Every two years ZIREB is published three times a year. This Special Conference Issue consists of selected papers presented at the international conference "An Enterprise Odyssey" which is hosted by Faculty of Economics and Business.  Why subscribe and read ZIREB is an economics and business journal directed at scientific and academic researchers who are interested in new insights and research methods in the field of economics and business. The journal welcomes research on topics related to respective countries or on regionally relevant topics. Furthermore, professional papers, short papers, review articles and book reviews are also welcome.  Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 

Volume 23 (2020): Issue s1 (December 2020) - Special Conference Issue

Zagreb International Review of Economics and Business

Volume 23 (2020): Issue s1 (December 2020)

Special Conference Issue

Decoding the Entrepreneurial Capacity: the Case of Entrepreneurial Alertness

Does High Population Density Catalyze the Spread of COVID-19?

Well-Being and Residents’ Tourism Support – Mature Island Destination Perspective

Balance of Payments Deficit and Currency Board Arrangement Sustainability in Bosnia and Herzegovina

Incomplete Transition – Is there a “Mid-Transition Trap”?

The Applicability of Political Business Cycle Theories in Transition Economies

The R&D Spillovers, Innovation and Knowledge-based Economy

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