Sector In Serbia Research Articles

Farmers' willingness to purchase crop insurance: evidence from wheat and raspberry sectors in Serbia

Crop insurance is widely acknowledged to be a valuable instrument contributing to sustainability of agriculture by reducing the risks associated with crop production and by stabilizing farmers' income. Despite the importance of the agricultural sector for the Serbian economy, level of crop insurance development is low. Therefore, there is a need to identify which characteristics most affect a farmer's decision regarding whether or not to use this type of insurance. In this study, a sample of 255 farmers producing wheat and raspberry in the regions of Vojvodina and Sumadija and Western Serbia were interviewed using structured questionnaire. The collected data was analyzed using the binomial logistic regression to ascertain the effects of selected socioeconomic and risk perception variables on the likelihood that farmer plans to purchase crop insurance. Farmer's willingness to purchase crop insurance was found to be significantly influenced by age, farm size, income and perceived level of risk.

Ocеnа efikasnosti pоslоvаnjа bаnаkа u nаšој zemlji

Lately, due to its importance, the banking sector is being analysed for its efficiency by individual countries, through modern economic and mathematical methods and models. This applies to the banking sector in Serbia, as well. The paper analyses the 2016 efficiency of the banking sector in the Republic of Serbia using the DEA (Data Envelopment Analysis) model. The obtained results of the survey conducted on 30 banks show that only eight banks operated at a satisfactory efficiency level, whereas twenty-two banks were inefficient. Considering the 91.2% share of banks in the total balance sheet amount, which, at the end of 2016 amounted to RSD 3.556 billion, one can conclude that the structure of Serbian financial system remains highly bank-centric and that primarily banks dictate the overall economic activity and development directions. Consequentially, raising the efficiency level of banking operations in Serbia will imply better performance of the entire financial system. Therefore, the primary objective of the banking sector in the future period should be to increase the efficiency of operations, especially in the case of inefficient banks. This can be achieved through a more efficient management over assets and liabilities, human resources, equity, operating income and profit. Moreover, we need a more efficient cost management, achieved by using modern concepts (like cost accounting by activities), as well as a higher quality human resources management.

How to increase job satisfaction and organisational commitment in the ICT sector through job design

The paper investigates the relationship between job design and workrelated attitudes (job satisfaction and organisational commitment) in the Information and Communication Technology (ICT) sector. We use data collected via an online questionnaire (using the Google Forms platform) from 97 employees working in the ICT sector in Serbia. The data was collected between February and June 2019. The analysis shows that job design is a predictor of both job satisfaction and organisational commitment. Of the five investigated job dimensions (Skill variety, Task identity, Task significance, Autonomy, Feedback from job), ?Autonomy? was the most positively associated with job satisfaction (r=0.629) but was only moderately associated with organisational commitment (r=0.4). The other job dimensions were found to be weakly correlated with the investigated work attitudes, although the relationships were positive. Furthermore, the results indicate that work engagement mediates both investigated relationships, providing a deeper insight into how job design is translated into positive work-related attitudes. We discuss the possible managerial implications of the ?Autonomy? dimension and the interventions in work engagement required to positively influence work-related attitude formation and management in the ICT sector, and we distinguish between ?bottom-up? and ?top-down? interventions.

Analiza ključnih pokazatelja bankarskog sektora Republike Srbije

The objective of the paper is to analyze development of Serbian banking sector, from troubled and insolvent public banking sector in the 1990s, through process of consolidation and privatization in 2000 until today's stable and profitable banking sector with dominant foreign property of banks in Serbia. The subject of this research is analysis of the key indicators of banking sector in Serbia: profitability, liquidity, capital adequacy, leverage, exchange rate risk and default credits from 2010 until July 2018. Also, authors calculate share in total assets, share in total equity and profitability through ROA and ROE indicators for banks in Serbia divided by ownership in 2016 and 2017 on the base of data in the financial reports publicized on the NBS web site.

A Survey on Relationship between Leadership Styles and Leadership Outcomes in the Banking Sector in Serbia

A Survey on Relationship between Leadership Styles and Leadership Outcomes in the Banking Sector in Serbia

Digitalna transformacija - izazovi kompanija u Srbiji

Serbian ICT industry has been the fastest growing sector in the last decade after the recession, accounting for 6% of the country's GDP. This provides scope for companies operating in different economic sectors to transform their business, products, and services using digital technologies and, thus, to build their competitive position on knowledge and innovations. However, data show that Serbian companies are investing five times less into ICT than the global average and that the cooperation between the ICT and other sectors in the country is quite low. This paper explored this topic at a company level based on a survey conducted among 218 respondents from companies operating in various economic sectors in Serbia. Data show that digital transformation is recognized as important across all industries and employee levels and is mostly viewed as an opportunity that transforms companies to a large extent. Majority of the companies have implemented at least one project in the area of digital transformation, and more than half of them are developing their own digital products and/or services. Digital transformation in Serbia is implemented by leaders who do not necessarily have a technical background. The survey also shows that domestically-owned companies develop digital aspects of their products internally, in contrast to foreignowned ones. As skill levels have been recognized as the quality of the Serbian ICT sector and are also key to building a digital economy, this paper assesses the difference between various available and needed skill sets in Serbian companies.

BANKS ON SOCIAL NETWORKS - EXAMPLE OF THE BANKING SECTOR IN SERBIA

<jats:p>Social media are the means ofinteractions among people in which they create,share, and exchange information and ideas invirtual communities and networks. Banks shouldleverage social media as a two-waycommunications vehicle for both listening to theaudience and gaining insights, with the goal ofproviding customers with targeted anddifferentiating solutions that solve their financialneeds. Communication with customers throughsocial networks is of great importance for thebank, and that kind of communication is paid moreand more attention, especially in today's economicconditions, when competition in the bankingmarket is rough, and when banks are struggling toget trust and attention from every client. Theobjects of the research is the presence of bankswithin the banking sector in Serbia, on socialnetworks in Serbia. The problem that is discussedin this paper is how the presence-absence of bankson social networks influences the modern bankingbusiness. It is expected that the results of theresearch indicate the presence of a joint impact onthe social networks and successful modernbanking business, and the impact of socialnetworks on the positioning of banks in the market.</jats:p>

The attitudes towards second hand smoke exposure in hospitality sector in Serbia

The attitudes towards second hand smoke exposure in hospitality sector in Serbia

Karakteristike IT softverske industrije u Srbiji

The objective of this paper is to identify the main characteristics of the software industry in Serbia, its strengths and challenges, as well as trends that are likely to influence this sector in the future. The study presents results of a survey of the software sector in Serbia conducted by the Institute Mihajlo Pupin from November 2017 to January 2018. Despite the huge regional disparities in the distribution of turnover between regions in Serbia, the software industry has been the most dynamic and fastest growing sector in Serbia in the last decade. There are many challenges regarding legal and financial framework conditions, taxation, legislation and online payment that need to be addressed by the Government of Serbia in order to create a friendly environment for this sector. The potential of the software industry is recognized and substantial support (both political and financial) from the Government is expected in the upcoming period. Respondents forecast further growth of the software industry and high demand for highly qualified staff.

Analysis of the financial position of enterprises in privatization in the agricultural sector in Serbia

Privatization as a phase of the transitional process also included agriculture. The most attractive enterprises in agriculture, primarily in the food industry, were privatized in the first wave, while the process of privatization of other less attractive companies was slowed down and implemented mainly by the auction model. The remaining companies waiting for the privatization process are not attractive and there are problems that are expressed through poor financial position and relatively low potential. An exception is made by PKB Corporation, which has a potential and relatively stable market, making this company an acceptable option for investors. The financial position of the companies that are ready for privatization at this moment and which is one of the factors of negative influence on the decision of the investor was analyzed using the Altman Z’-score model, the Kralicek Quick test and the balanced growth model. All tests have shown that the analyzed companies are in a bad financial position and that the future investor will have to invest significant funds in financial consolidation, balancing cash flows and investment in order to ensure adequate development and efficient business.

Potencijal i stanje razvoja digitalnog bankarstva u Srbiji

Digitization of processes and services is one of the biggest challenges of modern banking. Driven by the principles of profitability and maximizing user experience, banks conduct the implementation of digital products and services, which affects reorganization of resources and all activities of the banks. Rapid changes in clients' behavior and new technological possibilities are directing banks to the goal of ensuring prompt availability of resources, through real time transactions and loan approval. This paper presents a comparative analysis of the digital banking development in the banking sector in Serbia, focusing on availability of products and services that are current on the market, with follow-up on the same type of trends in the region and the European Union. It also discusses the potential and limitations in the application of a digital concept in banking, such as application of digital signature, demographic characteristics, regulation, technological capabilities and general features of the domicile economy.

Implementation of climate change science in viticulture sustainable development planning in Serbia

Growing interest in Serbia in adaptation of viticulture to climate change emerged from a recorded positive impact of summer increased draught on domestic wine quality. Another motivation is that viticulture has been recognized as one of the fastest developing agricultural sectors in Serbia and, to contain its growing potential, it is crucial to provide basis for its future sustainable development. Prioritization and implementation of adaptation measures in practice require reliable assessment of climate projections. For climate change impact assessment is used high resolution multi-model ensemble of nine regional climate models simulations, bias corrected, with two most probable future scenarios of GHG emissions RCP4.5 and RCP8.5, for the period 2016-2100. Analysis has been done for the near future, mid-century and end of the century periods. The periods are defined according to the IPCC 5thAssessment Report, which enables comparison of climate change impacts with a wider region, and preferably motivate future international collaboration and knowledge exchange.

Factors affecting patient satisfaction in the health care sector in Serbia

Introduction/Objective. The aim of this paper was to highlight and understand factors that influence the quality of healthcare services in Serbia in private and public health institutions. Methods. The data was collected during May of 2017 and June of 2017 through an on-field questionnaire. Out of 500 questionnaires in total, 406 were completed and returned, resulting in a response rate of 81.2%. Results. The following four most influential factors for patient satisfaction in Serbia?s healthcare sector were identified: admission process, doctor care, staff care, and technology tools. Conclusion. The model describes that 66.2 variance for the doctor care variable is based on three constructs: admission process, technology tools, and staff care. The hypothesis that technology tools will have a positive effect on staff care was not confirmed.

Nova rešenja u Zakonu o privrednim društvima i korporativno upravljanje u javnim preduzećima

Corporate governance in the public sector in Serbia is in its infancy. Only the first steps in the legal and regulatory arrangement of mater have been made. There is a lot of deviations at the very outset. The status quo forces are very strong, and the opposed pressure comes from the need to comply with EU regulations. There is a lot of dilemmas, both in settings and in practical approaches. This article discusses important solutions to corporate governance in public sector, revealing dilemmas and giving opinions that lead to dilemma resolutions.

Uticaj specifičnih bankarskih faktorana likvidnost komercijalnih banaka u Srbiji

The aim of this work is to identify internal factors that affect the liquidity of commercial banks in Serbia. Research results in the observed period from 2008 to 2013 using regression analysis indicate that the liquidity of banks is positively correlated with capital adequacy ratios and interest income to total assets ratio, while negative and statistically significant relationship exists between the indicators of liquidity and the size of the bank (measured by bank assets), expense ratios compared to interest income and return on equity ratios. This research represents the first step in achieving optimization model of liquidity, because many financial institutions, although profitable, are faced with the problem of maintaining liquidity. Research question that arises is the following: Which of the observed indicators affect the liquidity of commercial banks in Serbia the most? The survey used unconsolidated balances of 23 commercial banks in the period from 2008 to 2013. In particular, using ordinary least squares technique, author takes two different measures of liquidity risk into consideration. After obtaining an answer to the main question of this work regarding the key indicators of impact on the liquidity of the banking sector in Serbia, one can define the strategies and model for improvement of the operation of banks in financial markets. The results highlight that size, capitalization and profitability of banks can have an impact on liquidity risk management.

Development of derivative trading on financial market and agribusiness sector in Serbia

Transactions with futures and other derivatives began their development in the XIX century on the exchanges in USA and other developed countries, but fnancial market in Serbia is still underdeveloped with exchange materials, volumes and number of participants. Investors on the Belgrade Stock Exchange mostly trade with stocks and government bonds. Also, Agrar Product Novi Sad has organized only spot trading of agricultural products. The paper goal is to present all relevant assumptions and signifcance of derivative trading development in Serbia with discussion about choice to start derivative trading on the already existing exchanges or to establish a new futures exchange that is going to be specialized for derivative trading. As the research method authors use content analysis and comparison of signifcant national and foreign literature with analyses of trading volumes on international and domestic exchanges. Authors recommend that Agrar Product Novi Sad be the frst in expansion of market listing with commodity futures and options. On this way market is going to be deeper, creating effcient mechanisms for investor’s protection from price risks, creating conditions for safer and long term production planning, with increase in market attractivity that could set the Agrar Product Novi Sad as a leader in commodity derivative trading in the South-East Europe.

Determinante profitabilnosti neživotnih osiguravajućih kompanija u Srbiji

Taking into account the specifics of the Serbian insurance market, the insurance sector in Serbia is still underdeveloped and, if we take the degree of development into account, it is well below the average for European Union member states. The insurance market in Serbia is developing and has great potential opportunities. Profitability is one of the most important goals of financial management. The aim of this research is to examine the impact of internal factors of non-life insurance business operations such as: asset size (company), asset growth, premium growth, liquidity ratio, debt ratio, underwriting risk, operating costs, financial leverage, and total revenues of the profitability of non-life insurance companies in Serbia. The results of the research were obtained using the multilinear regression model, where the representativeness of the model was tested by calculating the coefficient of correlation, the determination coefficient and the corrected determination coefficient. Also, a variance analysis (ANOVA) was carried out, in order to test the significance of the observed variables in the model and examine the impact of these independent variables on ROA profitability as a dependent variable. The fundamental results are placed on giving an empirical basis for reaching the conclusion that the greatest impact on the profitability of non-life insurance companies is exerted by the increase in premiums, the debt ratio, operating costs and the share of profit in total revenues.

Lične predizetničke osobine i profitabilnost MSP u tranzicionoj ekonomiji

Creativity and innovation have been identified in the literature as the main drivers of small and medium size enterprises' development. The aim of this study was to determine whether these factors also affect the profitability of the SME sector in Serbia. The conceptual model was set and six hypotheses were proposed. The survey was conducted in South and South-Eastern Serbia, on a sample of 717 small and medium enterprises. Confirmatory Factor Analysis (CFA) and Path Analysis were used to test conceptual model. The results showed high reliability of the data and confirmed hypotheses.

Energy management system implementation in Serbian manufacturing – Plan-Do-Check-Act cycle approach

In Serbia, a developing country, energy consumption per capita is higher than in most other countries in the region. Implementation of energy management practices is therefore necessary to cut energy consumption and CO2 emissions. This paper gives an insight into how energy management is implemented in Serbian manufacturing (focusing on food processing and manufacturing of non-metallic mineral products, defined as priority industrial sectors). No similar study for Serbian manufacturing has been published. The study was carried out using an on-line questionnaire based on the ISO 50001 requirements. Questions were grouped into 16 categories and presented according to the PDCA (Plan-Do-Check-Act) cycle. The proposed methodology has not been used by other researchers for similar problems. The survey was conducted in 52 organizations and lasted from May to December 2015. We found that the average level of requirements fulfillment in priority industrial sectors in Serbia is 59.05%. Full implementation was found in only 5.8% of participating organizations. Average implementation of the PLAN phase (establishing basics for energy management) is 61.87%, implementation of the DO phase (realization of energy management processes) is 59.98%, implementation of the CHECK phase (monitoring and measurement of energy performance) is 59.61%, and finally, implementation of the ACT phase (review and improvement of energy management) is only 35.34%. The study results offer scientific data for improving national policy and education on energy management in Serbia.

Comparison of Structuring the Interest Rates on Micro Loans in Serbia and Montenegro

The aim of this research paper is development of comparative analysis of the microcredit sector in Serbia and Montenegro, as well as to carry out identification and analysis of the components that influence the determination of interest rates on microloans in Serbia and Montenegro. Within the comparative study, there will be an analysis of the correlation between the total amount of granted microcredits in these countries and their gross domestic product, by using the Pearson correlation coefficient.