Anali Ekonomskog fakulteta u Subotici

The impact of online recommendations on tourists' decision-making during the COVID-19 pandemic

Dražen Marić, Ksenija Leković, Sanja Džever — Mon, 20 May 2024 12:17:08 +0000

Electronic word-of-mouth recommendation system (eWOM) has been present since the emergence of the Internet, and it was preceded by the long-term use of the traditional recommendation system (WOM). Interaction between consumers can result in a positive and/or negative impact on theirs further behaviour on the market. Tourism industry attaches particular importance to the analysis of decision-making, given that the intangible nature of services makes the entire process difficult for tourists. Therefore, the aim of the paper is to examine the impact of online recommendations on the behaviour of tourist consumers in the decision-making process during the period of the COVID-19 virus pandemic. The subject of the paper is electronic word-of-mouth recommendation system, with a special focus on tourism. During the mentioned pandemic, the consumers' lifestyle was altered enormously, while tourism was affected by restrictions and difficult business operations. Empirical research was conducted on the territory of the Republic of Serbia and it included a sample of 268 respondents with different socio-demographic characteristics. Theanalysis of the obtained data was performed using the statistical software platform IBM SPSS Statistics and the Pearson's Correlation test, after which hypotheses 1, 2, 3 and 4 were accepted.

Challenges of using digital technologies in audit

Bojana Vuković, Teodora Tica, Dejan Jakšić — Mon, 20 May 2024 12:19:26 +0000

Every company must consider the changes in a digital environment. In the era of digital transformation, the company understands the importance of information technologies, and makes adjustments in the form of structural changes. Modern technology usage provides the possibility of the analysis of previously unimaginable types and amounts of data, and introduces significant changes in the field of auditing. By simplifying the audit work, digitalization has also created new opportunities for IT auditing. The aim of this paper is to present the opportunities and challenges of key digital trends in auditing, or the usage of big data analytics, artificial intelligence, blockchain technology, and robotic process automation. There is an emerging need for auditors to take advantage of digital technology usage and respond to the challenges of digitalization in a systematic and quality way. The progress of using digital technologies in auditing is contributing to more reliability and better quality reporting, which is leading to increased trust among stakeholders in the results of audit work.

Key determinants of consumers’ decision on the purchase of wristwatches in the Serbian market

Daniela Nuševa, Radenko Marić, Goran Vukmirović, Nikola Macura — Mon, 20 May 2024 12:24:54 +0000

The covid-19 pandemic and other global challenges that have appeared in the past years have caused market transformation and crucial changes on the demand side, forcing manufacturers and retailers to rethink their sales and marketing strategies. In particular, high-frequency durable consumer products such as wristwatches have proven to be sensitive. In this regard, this work aims to analyze the needs of consumers and define the indicators that directly influence the decision to buy wristwatches in the market of the Republic of Serbia. The research was organized in two phases. Theoretical research has identified indicators influencing purchase decisions, such as price, brand, design, ease of use, and warranty. Empirical research examined their influence on the purchase decision depending on different segments of respondents: gender, age, education, and employment status. The obtained results showed significant differences as to how the mentioned indicators influence the purchase decision, depending on the demographic indicators. Based on the presented results, a set of measures was proposed to improve the sales and marketing strategy for placing wristwatches on the market of the Republic of Serbia. Guidelines for future research are outlined in the paper.

The COVID-19 Pandemic and it effect on human capital and financial performance: Evidence from Serbian banks

Goran Pavlović — Mon, 20 May 2024 12:27:09 +0000

Human capital holds significant importance for banks as it includes specific knowledge and skills. It serves as a crucial determinant of financial performance. However, human capital is susceptible to various factors that can exert negative effects. The COVID-19 stands as one such factor, necessitating the restructuring of banks and potentially resulting in a depreciation of human capital value and subsequent performance decline. The objective of the research is to investigate the influence of the COVID-19 pandemic on the human capital of banks in the Republic of Serbia and evaluate its implications on financial performance. The research spanned across all banks operating in the Republic of Serbia throughout the period of 2019 to 2021. The Wilcoxon Signed Rank test was employed to assess the difference in human capital value over the observed period. Furthermore, the regression analysis was implemented to investigate the impact of human capital on ROA, ROE, and NPM. Results showed that COVID-19 pandemic has led to a decrease in the value of human capital in banks in the Republic of Serbia. The financial performance of banks is positively influenced by human capital in the short term. However, over the long term, the value of human capital depreciates, resulting in a diminishing impact on financial performance.

Conceptual model of key predictors and consequences of customer satisfaction

Nadja Đurić — Mon, 20 May 2024 12:29:21 +0000

Satisfied customers represent an important resource for a company. So far research has shown that customer satisfaction has an impact on the return on investment, the growth of the company’s market share, and shareholder value. The importance of research on customer satisfaction is seen in the fact that it most often leads to loyalty, which represents an important prerequisite to a company’s long-term profitability. In line with the significance of these two concepts in companies’ success, the topics of this research are the determinants of customer satisfaction and the relationship between satisfaction and loyalty. The goal of the research is the identification of key variables and the measurement of their respective impact on customer satisfaction. For the identification of key determinants, an adapted expectancy-disconfirmation model has been used. Satisfaction has been viewed as a function of customer expectations and percived product performance, and an additional component: the company’s image. This research was carried out on the territory of the Republic of Serbia through an online survey. The obtained conclusions can help companies in Serbia to better the quality of provided services, with the end goal being achieving an agreeable level of customer satisfaction and loyalty, and with it, higher profitability

The impact of inflation and interest rates on real estate indices in the US and EU

Danica Cicmil — Mon, 20 May 2024 00:00:00 +0000

This paper examines the relationship between macroeconomic factors such as interest rates and inflation, and the performance of real estate indices in the United States and the European Union. The analysis is conducted using linear regression on monthly data from the beginning of 2010 until the end of 2022. The obtained results supported the hypothesis that inflation has a positive impact on real estate indices in both markets. However, the hypothesis that interest rates have a negative impact on real estate indices was supported in Europe but not in the United States, potentially due to different economic and financial conditions in the two markets. The study of the relationship between inflation, interest rates and real estate index provides important insights into the broader economic environment. Inflation and interest rates are key indicators of the overall health of the economy, and changes in these variables can signal changes in the broader economic environment. Therefore, understanding the relationship between these variables and real estate indices can provide important overview of the current economic situation and potential future trends.

Oligopoly structure in the cryptocurrency market

Nenad Tomić — Mon, 20 May 2024 12:35:43 +0000

Blockchain technology has been announced as the driving force behind the democratization of digital business. Various interest groups believed that cryptocurrencies would enable fast, cheap and anonymous payments over the Internet. The absence of a central institution and the possibility of the participation of the wider community in the maintenance of the system should have created electronic money adapted to individuals, not the financial elite. However, the question arises whether cryptocurrencies really provide equal opportunities for all participants. The subject of the paper is the degree of centralization of the most famous cryptocurrency systems in terms of wealth distribution and the possibility of participation in their maintenance. The goal of the paper is to determine the degree of inequality in various aspects of the functioning of the cryptocurrency system. The results of the analysis indicate that cryptocurrencies function separately from the traditional financial system, but do not enable the financial inclusion of marginalized social groups. No current cryptocurrency community provides equality of participants, neither in terms of mining, nor in terms of wealth distribution. It can be concluded that the mining of cryptocurrencies and their secondary circulation show clear characteristics of oligopolistic structures.

Effect of trade openness on economic growth within BRICS countries: an ARDL panel approach

Djamal Dekkiche, Ouled Brahim Leila — Mon, 20 May 2024 12:41:08 +0000

This paper investigates the connection between trade openness and economic growth in the BRICS countries (Brazil, Russia, India, China, and South Africa) using an autoregressive distributed lag (ARDL) panel approach. The study aims to shed light on the importance of international trade in fostering economic growth, particularly for developing countries. Using a comprehensive panel dataset and advanced econometric techniques, we assess the long-term equilibrium relationship between trade openness and economic growth in the BRICS context. The findings indicate a positive and significant impact of trade openness on economic growth, emphasising the need for policies promoting trade liberalisation and attracting foreign direct investment. This study contributes to the existing literature by offering empirical insights into the specific dynamics of trade openness and economic growth within the BRICS countries.

The Impact of knowledge transfer in acquisition processes on ecological innovations in Serbia

Igor Milojević, Marko Savičević, Miloš Dimitrijević — Mon, 20 May 2024 12:43:36 +0000

Knowledge transfer is a key determinant of the development and implementation of innovations. It has not yet been sufficiently investigated how knowledge transfer can influence the environmental innovations of acquired companies in the Republic of Serbia. This study investigates the role of knowledge transfer in acquired companies in Serbia and examines the impact of knowledge transfer on environmental innovation, i.e. on environmental innovation activities and strategy. The research was conducted based on the answers of 91 respondents, i.e. employees from five companies that were part of the acquisition process in Serbia. Collected primary data were processed in the SPSS program, using statistical analysis such as descriptive statistical analysis, correlational statistical analysis, and regression statistical analysis. Empirical results show that knowledge transfer in acquisition processes has a positive impact on the environmental innovations of acquired companies. The results show that knowledge transfer activities encourage the development and implementation of environmental innovations in those acquired companies. Since there is a lack of studies investigating the environmental orientation of acquired companies, this study contributes to the understanding of how knowledge sharing promotes the development of environmental innovations in acquired companies.

Internal profitability determinants of organic production companies in Republika Srpska

Jovana Galić — Mon, 20 May 2024 12:45:20 +0000

The aim of this paper is to investigate the internal profitability determinants value and influence on profitability measured by return of assets of organic production companies in Republika Srpska. For this purpose, abbreviated balance sheets of 21 companies engaged in this type of agricultural production in period from 2014 to 2021 were provided. The results showed that the internal determinants of profitability age, liquidity ratio, debt measured by financial leverage, sales growth and capital turnover have a significant impact on profitability. While debt has negative correlation, other determinants have positive correlation.