17. MEĐUNARODNI SIMPOZIJUM O KORPORATIVNOM UPRAVLJANJU: MALE EKONOMIJE U PROCESU SUČELJAVANJA GEOSTRATEŠKIH INTERESA
17TH INTERNATIONAL SYMPOSIUM ON CORPORATE GOVERNANCE: SMALL ECONOMIES IN THE PROCESS OF CONFRONTING GEOSTRATEGIC INTERESTS
Contributor(s): Milan Pucarević (Editor), Milenko Krajišnik (Editor)
Subject(s): National Economy, Supranational / Global Economy, Business Economy / Management, Energy and Environmental Studies, Economic development, Environmental interactions, Financial Markets, Fiscal Politics / Budgeting, Accounting - Business Administration, Human Resources in Economy, ICT Information and Communications Technologies, Globalization, Socio-Economic Research, Geopolitics
Published by: Finrar d.o.o Banja Luka
Keywords: corporate governance; small economies; geostrategic interests; geopolitics;
Summary/Abstract: Banja Vrućica, 17-19. maj 2023.
- E-ISBN-13: 978-99955-83-34-7
- Page Count: 383
- Publication Year: 2023
- Language: Bosnian, Serbian
GEOPOLITIKA NE MOŽE ODGODITI ZELENU TRANZICIJU U SRBIJI
GEOPOLITIKA NE MOŽE ODGODITI ZELENU TRANZICIJU U SRBIJI
(GEOPOLITICS CANNOT DELAY THE GREEN TRANSITION IN SERBIA)
- Author(s):Dragan Đuričin
- Language:Serbian
- Subject(s):National Economy, Supranational / Global Economy, Energy and Environmental Studies, Environmental and Energy policy, Political Ecology, Environmental interactions, Geopolitics
- Page Range:7-37
- No. of Pages:31
- Keywords:Serbia; structural imbalances; external asymmetric shocks; green transition; circular economy; industrial policies; SDGs; ESGs; new financing models;
- Summary/Abstract:These days the global economy and humanity as a whole are in deep and permanent regression. Due to continuous making and widening of imbalances, the economy fell in a confluence of crises (cascading crisis, rolling crisis or a crisis in the system of crises). Along with the economy, the planet has fallen in a serious trap of dying slowly but surely. Finding systemic solutions to growing imbalances both in the economy and the planet as a whole is the imperative of our time. The so-called “green transition” is a big idea to mitigate current crisis and make a recovery. From an economic perspective, it is a way to nullify the existing structural imbalances of economic neoliberalism and misconceptions of related reactive policies, as well as a platform backing sustainable and inclusive economic growth in balance with the limits of nature. This approach is particularly suitable for developing economies that aspire to catch up with the developed world through new industrialization. In this paper, we attempt to concentrate, among dozens of complex issues concerning the transition from an old to a new economic order, on those solutions pertaining to the economic system adjustments in line with the natural limits in a landlocked, small, open, and developing national economy such as Serbia. The great majority of economics scholars have agreed upon the root causes of the current economic crisis as well as the key assumptions regarding problem solutions. In defining our proposals, despite different angles, we intend to integrate the most effective elements of a widely accepted but outside-the-box view. It is not certain for how long the current crisis will last. Some crisis management actions are already being implemented. Unfortunately, it is not enough. To reverse the regression trend, four questions need to be answered. How to adjust local actions to global priorities? What would be a feasible and effective growth model and conceptual platform of economic policy for the crisis mitigation along with the subsequent revival and set-up of a sustainable and inclusive economy? How to coordinate transformative activities in the right direction at the local level? How to weight different instruments to finance the transition from a new normal to a better normal, particularly from the perspective of the goal function and performance measurement system within basic economic agents? To answer the previous questions, the economic theory and policy should abandon the nexus of neoliberal rules, in both microeconomics and macroeconomics, and adopt a new nexus of economic rules, capable of explaining the real behavior of economic agents, sometimes irrational and inconsistent as explained by behavioral economics, but always under and “universal connectivity” as a dominant free good in the post-industrial age, as well as under the impact of natural limits. The above requires the implementation of the circular model of growth and heterodox economic policy platform. Following the previous line of reasoning, the material is organized in four parts, besides Introduction and Conclusion. The Part 1 discusses unsustainability of the current growth model and related economic policy platform and underlines the necessity for a truly radical paradigm change to mitigate the structural crisis and to set up a new conceptual platform for sustainable and inclusive growth. The Part 2 is focused on the reasons why reactive economic policies failed during a structural crisis. The Part 3 proposes the green transition as a breakthrough idea for radical system change. The Part 4 analyzes the macroeconomic performance and development opportunities of Serbia as prerequisites for the transition toward a greener economy.
- Price: 10.00 €
GEOSTRATEŠKA SUČELJAVANJA: EKONOMSKE POSLEDICE
GEOSTRATEŠKA SUČELJAVANJA: EKONOMSKE POSLEDICE
(GEOSTRATEGIC INTERACTIONS: ECONOMIC CONSEQUENCES)
- Author(s):Dejan Šoškić
- Language:Serbian
- Subject(s):Supranational / Global Economy, International relations/trade, Geopolitics, Russian Aggression against Ukraine
- Page Range:39-51
- No. of Pages:13
- Keywords:geopolitics; global inflation; de-dollarization; international trade;
- Summary/Abstract:The war in Ukraine and the institutional, trade and financial conflict of the West with Russia that followed has caused and is causing global economic and financial changes unprecedented since the Second World War. The desired outcome of Western sanctions is mostly absent, but the effects of these sanctions and the conflict with Russia are far from final and limited to the conflicting countries or their immediate international environment. The effects of this geostrategic confrontation are already global, with the tendency to permanently change the physiognomy of international trade, the world financial system and the function of world money. This paper aims to briefly present the macroeconomic realities of the modern world and try to explain why Western sanctions against Russia did not produce the expected results. In its second part, this paper discusses with the analysis of the causes and consequences of global inflation and accelerated de-dollarization, both on developed and on developing countries. Finally, the paper gives an overview of the position of the countries of Southeast Europe in these geostrategic confrontations, as well as potential "fine adjustments" of the international position and aspirations of this group of countries in the new and upcoming international political and economic circumstances. What is certain is that the world is rapidly changing and that in the context of the upcoming changes some relatively old economic and financial ideas are being revived, which can, in the context of new global relations, in some form, potentially experience their reincarnation.
- Price: 10.00 €
RAD I ŽIVOT U 2050. GODINI: RADNE I ŽIVOTNE VRIJEDNOSTI RAZLIČITIH GENERACIJA I UTICAJ NA PREDUZEĆA
RAD I ŽIVOT U 2050. GODINI: RADNE I ŽIVOTNE VRIJEDNOSTI RAZLIČITIH GENERACIJA I UTICAJ NA PREDUZEĆA
(THE WORK AND LIFE IN 2050: THE WORK-LIFE VALUES OF DIFFERENT GENERATIONS AND IMPLICATION FOR BUSINESSES)
- Author(s):Denis Marinšek, Tamara Pavasović Trošt, Urša Kragelj, Eva Novak, Ana Topolšek
- Language:Bosnian
- Subject(s):Business Economy / Management, Labor relations, Human Resources in Economy, Socio-Economic Research
- Page Range:53-72
- No. of Pages:20
- Keywords:Generations Y and Z; employee motivation; corporate culture;
- Summary/Abstract:Generation Z is considered one of the most technologically enterprising generations to date, which will make up the largest part of the workforce in 2050. Research on Generation Z is scarce, especially when it comes to work-related motivations, values and expectations. This paper analyzes the motives and values for the work of generation Z in Slovenia in 2022 (ages 18 to 27) and younger members of generation Y (ages 28 to 35). For the purposes of this research, a survey was conducted in the period from September 9 to 22, 2022, on a sample of 403 respondents, of which 295 submitted answers to the survey. The youngest generations have different preferences and do not perceive all work motives in the same way, so it is necessary to avoid the application of inadequate incentives, benefits or promotion plans. Salaries represent a huge cost for employers and can significantly motivate employees and raise productivity, but on the other hand, the culture of the company is also a very important motive. This research has shown that young generations want to have superiors who show a certain degree of empathy, up-to-date feedback and harmonious relationships with their colleagues. Also, the results of the research showed that the lack of an emotionally stable environment supported by a purposeful structure in the operational part is one of the key problems of Slovenian companies. It is certain that the youngest generations will have to be managed in a different way than their predecessors. They will have different expectations, drivers and desires that will encourage them to be successful in business. Another disruption will inevitably come when the latest generation, the Alpha generation, begins to join the workforce. It is expected that this generation, which includes individuals born in 2010 and after, will be by far the most diverse and educated generation, with technologies affecting almost all stages of their development. Therefore, understanding generational specifics is crucial, especially due to the fact that the future will bring an extremely multigenerational workforce. Managers must understand and monitor changes in work motivation over time, because employee satisfaction and happiness contribute significantly to the company's success, and customers will never love the company until the employees love it first.
- Price: 10.00 €
VEŠTAČKA INTELIGENCIJA I DIGITALNA TRANSFORMACIJA
VEŠTAČKA INTELIGENCIJA I DIGITALNA TRANSFORMACIJA
(ARTIFICIAL INTELLIGENCE AND DIGITAL TRANSFORMATION)
- Author(s):Branko Krsmanović, Zvjezdana Krstić
- Language:Serbian
- Subject(s):Business Economy / Management, Social Informatics, ICT Information and Communications Technologies
- Page Range:73-88
- No. of Pages:16
- Keywords:Digital transformation; Digital technologies; Artificial Intelligence;
- Summary/Abstract:Artificial intelligence and digital transformation are two important concepts that are often connected. Artificial intelligence refers to the ability of computer systems to perform tasks that require human thinking and decision-making, while digital transformation refers to the application of digital technologies to change the way organizations operate. Recently, artificial intelligence has become a key factor in digital transformation, as it can provide great value in automating and improving business processes, optimizing work, and increasing efficiency. Digital transformation is characterized by multidisciplinarity, and digital technology is the driving force, not the essence of digital transformation. The development of digital technologies has enabled, that is, intensified the mass application of artificial intelligence – AI. In order for the digital transformation to be successful, it should be supported by the application of artificial intelligence, and at the same time, this also means a lean methodological approach to artificial intelligence, because the lean methodology and artificial intelligence are in a synergistic relationship that helps the successful development of business organizations.
- Price: 10.00 €
MALE, NEDOVOLJNO RAZVIJENE ZEMLJE – IZMEĐU PATOLOŠKE MOĆI MULTINACIONALNIH KOMPANIJA I „ŽIVOG PIJESKA” DARVINIZMA
MALE, NEDOVOLJNO RAZVIJENE ZEMLJE – IZMEĐU PATOLOŠKE MOĆI MULTINACIONALNIH KOMPANIJA I „ŽIVOG PIJESKA” DARVINIZMA
(SMALL, UNDERDEVELOPED COUNTRIES - BETWEEN THE PATHOLOGICAL POWER OF MULTINATIONAL COMPANIES AND THE “QUICKSAND” OF DARWINISM)
- Author(s):Anđelko S. Lojpur, Niksa Grgurević
- Language:Bosnian
- Subject(s):Business Economy / Management, Developing nations, Economic development, Globalization
- Page Range:89-114
- No. of Pages:26
- Keywords:underdeveloped economies; Darwinism; development; globalization; corporation;
- Summary/Abstract:In this paper, we start from the fact that today it is ungrateful to predict the future. The same can be argued with the cognition that the future is more uncertain than ever before, because the current globalization differs in many ways from that of the nineteenth and twentieth centuries, and crises follow each other in short intervals. In this sense, globalization, in addition to the economic one, also gave rise to social, ecological, technological, political and, finally, military action, which especially escalated at the end of the twentieth and in the first decades of the twenty-first century. Hence, no country, no matter how strong it is, and regardless of whether it wants to impose its will on others or avoid it, cannot solve its problems alone. At the same time, thanks to operations in several countries, i.e. cross-border, today"s multinational corporations dictate the course of globalization on a global level, which continuously threatens the world with totalitarianism and the complete Orwellization of the individual and collective existence of human society in general. Finally, the question is whether small, underdeveloped states are aware of the historical opportunity to revise their own development models of the ”bottom-up” type, which basically boils down to the necessity of accepting the approach of decolonization.
- Price: 10.00 €
UPRAVLJANJE VALUTNIM RIZIKOM
UPRAVLJANJE VALUTNIM RIZIKOM
(CURRENCY RISK MANAGEMENT)
- Author(s):Silvije Orsag, Dejan Mikerević
- Language:Bosnian
- Subject(s):Business Economy / Management, International relations/trade, Globalization
- Page Range:115-133
- No. of Pages:19
- Keywords:foreign exchange; currency risk; forex; option; swap; futures;
- Summary/Abstract:Currency risk represents one of the most significant challenges faced by companies in modern economic conditions and a globalized business environment. In our work, we focused on transaction exposure to currency risk and the possibilities of insurance against such risk in order to avoid the negative effects of the volatility of numerous national means of payment that circulate in the international financial system. Various methods of protection against exchange rate changes are used nowadays, while the paper analyzes the spot and forward market with examples of the use of options, futures, swaps and other derivative securities as opportunities to systematically manage currency risk. The foreign exchange market (FOREX, FX) is the largest financial market where more than eight billion dollars are traded daily and this is the result of the growth of international trade, the integration of national capital markets into a single globalized world market and a large number of international transactions.
- Price: 10.00 €
MENADŽERSKA POHLEPA – KRAJ EPOHE KORPORATIVNOG KAPITALIZMA
MENADŽERSKA POHLEPA – KRAJ EPOHE KORPORATIVNOG KAPITALIZMA
(MANAGERIAL GREED – THE END OF THE ERA OF CORPORATE CAPITALISM)
- Author(s):Milan Lakićević, Saša Vujošević
- Language:Bosnian
- Subject(s):Business Economy / Management, Governance, Management and complex organizations, Economic development, Socio-Economic Research
- Page Range:135-151
- No. of Pages:17
- Keywords:managerial compensation; agency problem; modern corporation; social responsibility; and sustainable development;
- Summary/Abstract:Corporate governance launched the so-called modern corporation as a central institution of the market economy, and its most important characteristic is the separation of the function of ownership from management. The management function in a modern corporation is taken over by professional management who, in the capacity of an agent, manages the corporation's assets on behalf and for the account of the owner - the principal. One of the biggest problems of modern corporate capitalism is the tendency towards the concentration of management power, whereby the control and supervisory mechanisms of the owners become only formal instruments whose effectiveness and timeliness are highly debatable. For management and leadership processes of the corporation, managers receive a managerial fee that represents a certain direct or indirect financial benefit. The amount of management compensation often does not correspond to the achieved results of the corporation, nor is the principle of equivalence set as a basic prerequisite for the legal validity of management contracts. In the era of corporate capitalism, the desire of management and owners to acquire as much wealth as possible, threatens the existing order of socio-economic relations in the long term, creating an ever-widening gap between the enormously rich and poor population. Managerial greed is increasingly becoming the dominant determinant of the crisis of corporate capitalism. The long-term orientation of corporations towards social responsibility and sustainable development implies finding adequate reward and control mechanisms.
- Price: 10.00 €
OTPORNOST MALIH EKONOMIJA NA UČESTALE GLOBALNE KRIZE (S OSVRTOM NA REPUBLIKU SRPSKU I BOSNU I HERCEGOVINU)
OTPORNOST MALIH EKONOMIJA NA UČESTALE GLOBALNE KRIZE (S OSVRTOM NA REPUBLIKU SRPSKU I BOSNU I HERCEGOVINU)
(RESISTANCE OF SMALL ECONOMIES TO FREQUENT GLOBAL CRISIS (WITH REFERENCE TO REPUBLIKA SRPSKA AND BOSNIA AND HERZEGOVINA))
- Author(s):Dragan Mikerević, Đoko Malešević
- Language:Bosnian
- Subject(s):Economy, National Economy, Supranational / Global Economy, Economic history
- Page Range:153-183
- No. of Pages:31
- Keywords:resilience; yield; property and financial position; financial stability; macroeconomic aggregates; gross domestic product;
- Summary/Abstract:The occurrence of frequent global crises causes damage to the state as well as to households and businesses, which inevitably requires recovery programs that additionally burden their budgets and negatively affect their financial strength. The microeconomic analysis of the Republika Srpska economy and the macroeconomic analysis in Bosnia and Herzegovina point to the conclusion that in 2022 there was a further weakening of the financial strength and resilience of its economy. In order to raise the performance of the economy and increase its resilience to a higher level, decisive reforms are necessary, which have been non-existent in Bosnia and Herzegovina for almost more than a decade. This resulted in long-term stagnation, and in order to make up for lost time, it is necessary to make a “leapfrog” in the economy, skipping a series of development phases that require time.
- Price: 10.00 €
KORPORATIVNA STRATEGIJA U METAVERZUMU: MOGUĆNOSTI I IZAZOVI DIGITALNE TRANSFORMACIJE
KORPORATIVNA STRATEGIJA U METAVERZUMU: MOGUĆNOSTI I IZAZOVI DIGITALNE TRANSFORMACIJE
(METAVERSING THE CORPORATE STRATEGY: THE OPPORTUNITIES AND CHALLENGES OF DIGITAL TRANSFORMATION)
- Author(s):Polona Domadenik Muren, Matjaž Koman, Tjaša Redek
- Language:Bosnian
- Subject(s):Media studies, Business Economy / Management, Management and complex organizations, ICT Information and Communications Technologies
- Page Range:185-202
- No. of Pages:18
- Keywords:Corporate strategy; digital transformation; competitive advantage; new technologies;
- Summary/Abstract:Digital transformation as a challenge is one of the main topics of management structures, primarily due to the rapid pace of development of new technologies and frequent changes in the business models of companies. This paper addresses the key concepts of digital transformation, technological, organizational and environmental factors that influence business processes, and, finally, identifies the main drivers and barriers. In order to provide management guidelines for digital transformation, it is necessary to improve the understanding of how companies can gain a sustainable competitive advantage based on specific resources, adopt appropriate strategies and redefine the organizational structure. The business approach must be built on the basis of the analysis of the influence of technology, business and society on the development of economic branches. Emerging technologies currently pose and will continue to pose a major threat to existing routine processes and competencies. Organizations must review recruitment strategies in order to attract the younger generation, which implies retraining and upgrading existing personnel and continuously checking compliance with business goals. It should be kept in mind that digital transformation is a much broader concept than digitization itself and is more than the simple application of new technologies in business processes. The key purpose of digital transformation is to achieve progress in the green transition using digital solutions that also improve process efficiency. Embracing digital transformation requires building a new culture characterized by risk acceptance.
- Price: 10.00 €
GEOEKONOMIJA, DIGITALIZACIJA I STRATEŠKI PRAVCI ODRŽIVOG RAZVOJA REPUBLIKE SRPSKE
GEOEKONOMIJA, DIGITALIZACIJA I STRATEŠKI PRAVCI ODRŽIVOG RAZVOJA REPUBLIKE SRPSKE
(GEOECONOMICS, DIGITALIZATION AND STRATEGIC DIRECTIONS OF SUSTAINABLE DEVELOPMENT OF THE REPUBLIC OF SRPSKA)
- Author(s):Boris Todorović, Marija Todorović, Zdravko Todorović
- Language:Bosnian
- Subject(s):National Economy, Economic development, ICT Information and Communications Technologies, Geopolitics
- Page Range:203-222
- No. of Pages:20
- Keywords:Geopolitics; Industrial revolutions; Digitization; Artificial intelligence; Circular economy; Zero waste;
- Summary/Abstract:The purpose of the research is to look at the impact of geopolitics on the economy, and ways of adapting the economy to industrial revolutions 4.0 and 5.0. In the paper, we started from the hypothesis that global geo-economic risks cause risks for the economy, and digitalization and sustainable development guidelines provide opportunities for the economy. The strategy of sustainable development can be measured by the level of introduction of the circular economy, i.e. the approach to zero waste. By reviewing the relevant literature, we found important data on the connection and mutual influence between geopolitics, economics, digitization, industrial revolutions, global risks, sustainable development and the circular economy. In the research, we analyzed the views on the impact of global risks on the economy of The Republic of Srpska that we received from businessmen, political decision makers and researchers. Attitudes were evaluated based on a five-point Likert scale. With the draft of the research, we presented a systemic approach in the creation of the Sustainable Development Strategy of the Republic of Srpska, where we considered the influence of external and internal factors, as well as ways of measuring sustainable development through the level of waste reduction, i.e. the level of introduction of the circular economy. The practical implications of the research refer to the benefits that the Republic of Srpska will have by adjusting its economy to external and internal influencing factors. The originality of the research refers to the proposal of a model for creating a sustainable development strategy
- Price: 10.00 €
MALA OTVORENA EKONOMIJA I INSTRUMENTI EKONOMSKIH POLITIKA
MALA OTVORENA EKONOMIJA I INSTRUMENTI EKONOMSKIH POLITIKA
(SMALL OPEN ECONOMY AND INSTRUMENTS OF ECONOMIC POLICIES)
- Author(s):Marko Markić, Brano Markić
- Language:Bosnian
- Subject(s):National Economy, Economic policy, Fiscal Politics / Budgeting
- Page Range:223-236
- No. of Pages:14
- Keywords:openness of the economy; regression; fiscal policy; monetary policy;
- Summary/Abstract:A small open economy has two key features. First, it has no influence on global economic trends: supply, demand, prices, and exchange rates. It is exposed to exogenous influences of financial and trade flows. Second, open means that imports and exports are constantly growing in relation to the gross national product. There are no economic barriers to import and export. The measurement of the economic openness of a national economy has varied in recent decades. Theoretically and observed, there is no unequivocal solution on how to best measure the degree of economic openness. The assumption is that domestic production grows over time in a small open economy. Domestic goods become cheaper because supply increases, and then foreign demand increases. The increase in imports depends on the increase in domestic demand. It is logical to assume that higher demand for all goods, including foreign ones, increases imports. Likewise, an increase in the real exchange rate means a higher price of foreign goods compared to domestic ones, and imports fall. The paper analyzes the economy of Bosnia and Herzegovina, its openness and the influence of public revenues, public expenditures, monetary mass, inflation, interest rates on the openness of the economy. Regression analysis connects the openness of the economy (independent variable) with public revenues and expenditures (fiscal policy), inflation, interest rate and money supply (monetary policy). The paper develops a regression model based on the impact of fiscal and monetary policy on the openness of a small economy is analyzed.
- Price: 10.00 €
FINANSIJSKA PODRŠKA REALNOM SEKTORU U POSTIZANJU CILJEVA ODRŽIVOG RAZVOJA
FINANSIJSKA PODRŠKA REALNOM SEKTORU U POSTIZANJU CILJEVA ODRŽIVOG RAZVOJA
(FINANCIAL SUPPORT TO THE REAL SECTOR IN ACHIEVING THE SUSTAINABLE DEVELOPMENT GOALS (SDGs))
- Author(s):Jelena Poljašević
- Language:Bosnian
- Subject(s):National Economy, Micro-Economics, Economic development, Financial Markets
- Page Range:237-251
- No. of Pages:15
- Keywords:Sustainable Development Goals; financial institutions; sustainable financing;
- Summary/Abstract:By signing the global Agenda 2030 in 2015, Bosnia and Herzegovina undertook to implement 17 sustainable development goals (SDGs). The aforementioned implementation requires significant financial resources, while banks have been identified as important participants in this process. This paper presents the results of research whose goal was to determine how much banks and micro-credit organizations in BiH financially support projects that contribute to the sustainable development goals. Research has shown that the aforementioned credit lines are mainly directed towards energy efficiency and renewable energy sources, while the loan amounts are modest and mostly financed by international organizations. Although industrialization, innovation and infrastructure are considered drivers of sustainable development, very few banks offer credit lines for these purposes.
- Price: 10.00 €
„NARODNE” OBVEZNICE KAO ODGOVOR NA FINANSIJSKU KRIZU
„NARODNE” OBVEZNICE KAO ODGOVOR NA FINANSIJSKU KRIZU
("NATIONAL" BONDS AS THE ANSWER TO THE FINANCIAL CRISIS)
- Author(s):Goran Radivojac
- Language:Bosnian
- Subject(s):National Economy, Economic policy, Financial Markets, Fiscal Politics / Budgeting
- Page Range:253-264
- No. of Pages:12
- Keywords:bonds; risk; monetary policy; financial gambling;
- Summary/Abstract:There are a large number of securities that belong to the group of debt instruments. In the financial markets, they appear as notes, certificates, notes, debentures, bonds, etc. bonds are long-term debt financial instruments issued by governments and companies to finance their activities. These financial instruments are bought by financial institutions (banks, insurance companies and investment funds), and foreign investors dominate developing markets. Recently, there has been talk about the so-called show. "people's" bonds which, above all, are addressed to the population sector because they are adapted to their financial capabilities. The instruments of monetary- credit policy in Bosnia and Herzegovina do not have a clear logic of application, and the Central Bank of Bosnia and Herzegovina itself cannot boast of its successes on the financial market, which are the result of managing the financial potential at its disposal.
- Price: 10.00 €
RAČUNOVODSTVO ULAGANJA U DRUGE SUBJEKTE PO MODELU FER VRIJEDNOSTI KROZ OSTALI UKUPNI REZULTAT (FVOCI)
RAČUNOVODSTVO ULAGANJA U DRUGE SUBJEKTE PO MODELU FER VRIJEDNOSTI KROZ OSTALI UKUPNI REZULTAT (FVOCI)
(ACCOUNTING OF INVESTMENTS IN OTHER ENTITIES ACCORDING TO THE MODEL OF FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (FVOCI))
- Author(s):Vinko Belak
- Language:Bosnian
- Subject(s):Business Economy / Management, Accounting - Business Administration
- Page Range:265-276
- No. of Pages:12
- Keywords:Investments; Equity instruments; IFRS 9; FVOCI option; Fair value; Other comprehensive income;
- Summary/Abstract:The model of fair value through other comprehensive income (FVOCI) is one of the three classification models of financial assets in IFRS 9 - Financial instruments, which is determined at the beginning based on the business model that will be applied when using it. Its basic characteristic is that changes in fair value are recognized in capital reserves and not in the profit and loss account. This avoids possible sudden impacts on profit or loss in the profit and loss account due to changes in the fair value of financial assets that have not been realized. When a financial asset is derecognised, accumulated reserves of gains and losses in other comprehensive income are transferred to retained earnings, and the difference between the fair value of the sold financial asset on the date of derecognition and the sale price is recognized in the profit and loss account. All of this is completely inadequately explained in point 5.7.10 of the IFRS 9, leading accountants and auditors to completely wrong conclusions. In order to properly apply the FVOCI model, this article proposes a solution in the following three steps: 1. In the first step, on the date of derecognition, the fair value of the financial asset that should be recognized through other comprehensive income should be determined again. 2. In the second step, based on the posting of the sales price, the investment account and their value adjustments are closed, and the difference between the sales price and the newly determined fair value should be recognized in profit and loss. 3. In the third step, the finally determined revaluation reserves created according to the FVOCI model should be transferred to the retained profit or loss within the capital. As a final conclusion, it can be pointed out that IFRS 9 in defining the accounting of investments in other entities according to the fair value through other comprehensive income (FVOCI) model is extremely incomprehensible and confusing to users. Even more, it leads them to completely wrong conclusions regarding the postings. This especially refers to item 5.7.10 of IFRS 9, so it is suggested that it be rewritten
- Price: 10.00 €
RAT BEZ BARUTA I UBRZANJE NAUČNO-TEHNIČKOG PROGRESA
RAT BEZ BARUTA I UBRZANJE NAUČNO-TEHNIČKOG PROGRESA
(WAR WITHOUT GUN POWDER AND RAPID SCIENTIFIC AND TECHNICAL PROGRESS)
- Author(s):Radmilo Todosijević, Miloš Todosijević
- Language:Serbian
- Subject(s):Media studies, Communication studies, Economic development, ICT Information and Communications Technologies, Globalization, Socio-Economic Research
- Page Range:277-289
- No. of Pages:13
- Keywords:war; economy; tehcnical progress; digitalization;
- Summary/Abstract:Wiener’s prognostic. Stands towards future. Overflow of digitalization, absence of market, AI, new ways of communication ”everyone with everyone” and fall of cost of mediation. War and materialization of results of scientific and technical achievements. Own state development is in the esence the greatest protection against greedines of capital and its globalistic models. Complex products and development of basiic and complementary capacities, assume possible diversity of regional integrations. If man’s greatness is in liberation of destiny, he will co front it with knowledge, humanity and strive twords self sustainability.
- Price: 10.00 €
IZAZOVI, OGRANIČENJA I PREDNOSTI MALIH EKONOMIJA U PROCESU ZELENE TRANZICIJE
IZAZOVI, OGRANIČENJA I PREDNOSTI MALIH EKONOMIJA U PROCESU ZELENE TRANZICIJE
(CHALLENGES, LIMITATIONS AND ADVANTAGES OF SMALL ECONOMY IN THE PROCESS OF GREEN TRANSITION)
- Author(s):Miloš Grujić
- Language:Bosnian
- Subject(s):Energy and Environmental Studies, Economic development, Environmental interactions, Accounting - Business Administration
- Page Range:291-308
- No. of Pages:18
- Keywords:Economic development; green transition; small economy; emerging market;
- Summary/Abstract:Small economies face specific challenges in adapting to and implementing the green transition. This paper provides a conceptual definition of small economies and an overview of the main aspects of green transition, such as energy efficiency, renewable energy sources, technological innovations, regulatory framework, and investment in green infrastructure. At the same time, different definitions of small economies are presented. By researching a large number of relevant reports and publications, as well as cited academic articles indexed in scientific databases such as Wos, Scopus and Google Scholar, specific challenges that small economies face in the process of green transition have been identified. The focus of the research is on the Western Balkan countries as examples of small economies. The conclusion is that the most important challenges are the lack of resources and capacity, difficulties in attracting investment and adapting to the market, and limitations in accessing financing. The paper provides recommendations for small economies and explains the position of the accounting and auditing profession in the process of green transition in small economies. The paper can serve as a basis for further analysis and research of the mentioned challenges and ways to overcome them, as well as the contribution of small economies to global efforts to achieve sustainable development.
- Price: 10.00 €
UTICAJ ODRŽIVOG POSLOVANJA I KOMPANIJA PRIRODNE IMOVINE NA PROMJENE U KORPORATIVNOM I JAVNOM SEKTORU BOSNE I HERCEGOVINE
UTICAJ ODRŽIVOG POSLOVANJA I KOMPANIJA PRIRODNE IMOVINE NA PROMJENE U KORPORATIVNOM I JAVNOM SEKTORU BOSNE I HERCEGOVINE
(THE IMPACT OF SUSTAINABLE BUSINESS AND NATURAL ASSET COMPANIES ON CHANGES IN THE CORPORATE AND PUBLIC SECTOR OF BOSNIA AND HERZEGOVINA)
- Author(s):Tajana Serdar Raković, Branka Topić Pavković
- Language:Bosnian
- Subject(s):Business Economy / Management, Energy and Environmental Studies, Economic development, Environmental interactions, Accounting - Business Administration
- Page Range:309-328
- No. of Pages:20
- Keywords:natural asset companies; sustainable business; ecosystem accounting; natural capital accounting; green transition; sustainable development;
- Summary/Abstract:Stocks of natural resources are decreasing at a high rate worldwide, considering that the level of their exploitation is much higher than the rate of natural renewal. In order to respond to the substantial and complex challenges of climate change and the transition to a more sustainable economy, in 2021 the New York Stock Exchange (NYSE) and the Intrinsic Exchange Group (IEG) have introduced a new class of listed companies on the New York Stock Exchange whose activities are firmly linked to the benefits provided by nature (ecosystem services). Natural asset companies (NACs) enable owners to convert the value of nature into capital, using it to reinvest in natural resources in order to protect them. Natural asset companies represent a potentially major shift in the corporate sector globally, bringing together the interests of capital owners for profit and governments for sustainable development. Investors –interest in investing in these companies is very high, because the innovative class of assets on the New York Stock Exchange rejects the assumption that the preservation of natural resources is only a cost. The new category of companies also initiates a series of new challenges in the financial and accounting sector, related to the development of accounting solutions for integrating natural assets into financial statements. The main goal of our research is to examine the impact of the trend of sustainable business and new natural asset companies on the corporate and public sector in Bosnia and Herzegovina and what will be the role of natural assets in changes in business operations and financial reporting in the future
- Price: 10.00 €
STRATEGIJSKI ZNAČAJ HUMANOG KAPITALA
STRATEGIJSKI ZNAČAJ HUMANOG KAPITALA
(THE STRATEGIC IMPORTANCE OF HUMAN CAPITAL)
- Author(s):Stefan Blagojević
- Language:Bosnian
- Subject(s):Business Economy / Management, Management and complex organizations, Human Resources in Economy
- Page Range:329-347
- No. of Pages:19
- Keywords:human capital; employee knowledge; knowledge-based economy; competitive advantage; innovation;
- Summary/Abstract:Human capital refers to the specific knowledge and skills of employees and is a key factor in the success of organizations. Achieving good business results and sustainable competitive advantage is determined by a number of different factors. Unlike traditional business conditions, in which material and physical resources and money were the key success factors, achieving good organizational performance in modern business conditions is significantly determined by intangible resources, where one of the most important components is human capital. Understood as a set of knowledge and skills of workers, human capital refers to motivation, creativity, innovation, responsibility, loyalty to the organization and flexibility of workers, which appear as a result of their education and experience, and which enable the achievement of enviable business results that will differentiate the given organization from others. The central component of human capital is the knowledge of employees, which they bring with them to the organization, develop and improve during work, but which they also take away when they leave their work place, which is why the goal of management is to attract, improve and retain valuable human capital. In the text, we pointed out the strategic management of human resources, which implies the involvement of human resources in all activities and functions within the organization, according to which employees represent the most important asset resource that should be carefully managed. We devoted attention to the identification of human capital as one of the three components of intellectual capital, which is crucial for creating a knowledge-based economy, as well as for achieving competitive advantage and innovation.
- Price: 10.00 €
UPRAVLJANJE GENERACIJAMA Y I Z: PRONALAŽENJE RAVNOTEŽE IZMEĐU OČEKIVANJA I POSLOVNIH POTREBA
UPRAVLJANJE GENERACIJAMA Y I Z: PRONALAŽENJE RAVNOTEŽE IZMEĐU OČEKIVANJA I POSLOVNIH POTREBA
(MANAGING GENERATIONS Y AND Z: FINDING A BALANCE BETWEEN EXPECTATIONS AND BUSINESS NEEDS)
- Author(s):Nada Zupan, Tanja Istenič, Elma Hilić, Nicolò Lavaroni, Nicole Vićentić
- Language:Bosnian
- Subject(s):Business Economy / Management, Labor relations, Organizational Psychology, Management and complex organizations, Socio-Economic Research
- Page Range:349-368
- No. of Pages:20
- Keywords:New workforce management; Generations Y and Z; relational type of employment relationship; transactional type of employment relationship;
- Summary/Abstract:In a business environment that is exposed to constant changes, companies face numerous challenges. One of the biggest challenges is managing the new workforce, namely Generation Y, also called Millennials (born between 1980 and 1994) and Generation Z (born between 1995 and 2010). The paper deals with the perception of Slovenian companies about generations Y and Z in the workplace, in order to find answers about the challenges that await them and to shape the work environment, putting younger employees in a better position to achieve organizational goals. The introduction discusses the expectations, values and behaviors of generation Y and generation Z in the workplace, and analyzes the best practices for managing them. Next, the results of interviews conducted with HR managers from some of the best Slovenian companies are presented. Research has shown that young people value the relational type of working relationship much more than the transactional type. For this reason, companies should invest more in relational aspects of work, such as communication, employee care, culture, recognition, respect and inclusion. Relational factors are more important for attracting and retaining young workers than transactional factors, such as salary. These factors require less direct financial investment and more personal engagement (time and energy) on the part of mentors, managers and human resources management. Also, the positive attitude of the best ranked companies towards young people ought to be emphasized, in contrast to the attitudes that can be found in the media and academic literature, where there are a significant number of negative stereotypes about young people.
- Price: 10.00 €
UTICAJ DOHODOVNE NEJEDNAKOSTI NA PRIVREDNI RAST MALIH EKONOMIJA – SLUČAJ BOSNE I HERCEGOVINE I SRBIJE
UTICAJ DOHODOVNE NEJEDNAKOSTI NA PRIVREDNI RAST MALIH EKONOMIJA – SLUČAJ BOSNE I HERCEGOVINE I SRBIJE
(IMPACT OF INCOME INEQUALITY ON THE ECONOMIC GROWTH OF SMALL ECONOMICS – THE CASE OF BOSNIA AND HERZEGOVINA AND SERBIA)
- Author(s):Elvis Mujkić, Jovana Kuridža
- Language:Bosnian
- Subject(s):National Economy, Economic history, Economic development, Transformation Period (1990 - 2010), Present Times (2010 - today)
- Page Range:369-383
- No. of Pages:15
- Keywords:small economies; economic growth; income inequality;
- Summary/Abstract:Income inequality and its impact on the country's economic growth is a frequent and current research question in modern business conditions. The fact that every year the World Inequality Base publishes a report on global inequality in different segments, including the segment of income inequality, speaks of its topicality. This paper tries to give an answer to the question of what is the relationship between income inequality and economic growth in small economies, using the example of Bosnia and Herzegovina and Serbia. The hypothesis on which the paper is based is that with the reduction of income inequality comes an increase in economic growth in small economies. The time span of the research is the period of 2000 - 2021. Applying regression analysis, it was found that with the increase in income inequality, economic growth in the analyzed countries decreases and vice versa.
- Price: 10.00 €