Template-Type: ReDIF-Article 1.0 Author-Name: Maja Kljajić Author-Email: mkljajic@singidunum.ac.rs Author-Name: Vule Mizdraković Author-Email: vmizdravkovic@singidunum.ac.rs Title: Investigating the Impact of IFRS 16 Adoption in the Serbian Hotel Abstract: The effects of the implementation of IFRS 16 in the hotel industry, as one of the industries with the highest amounts of leased assets, is the primary focus of this paper. The International Accounting Standards Board adopted International Financial Reporting Standard 16 - Leases in January 2016, replacing International Accounting Standard 17 – Leases, for reporting periods starting on or after 1st January 2019. The updated regulations introduce different accounting models for lessees and lessors. The influence of IFRS 16 on a reporting entity is contingent on the quantity of existing operating lease agreements and differs across various industries. The research sample includes financial reports of 64 hotels per reporting period (2020-21), totalling 128 observation units. Data analysis included the application of statistical tests such as Kolmogorov-Smirnov test, Shapiro-Wilk test, and Wilcoxon signed-rank test. The research results indicate that aside from other events, the adoption of IFRS 16 had an impact on the financial performance of observed hotels and their key financial statement items. Keywords: financial reporting, IFRS, IAS, leases, lessee Journal: The European Journal of Applied Economics Pages: 1-17 Volume: 21 Issue: 1 Year: 2024 DOI: 10.5937/EJAE21-49180 File-URL: https://journal.singidunum.ac.rs/files/2024-21-1/investigating-the-impact-of-ifrs-16-adoption-in-the-serbian-hotel-.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/investigating-the-impact-of-ifrs-16-adoption-in-the-serbian-hotel- File-Format: text/html Handle: RePEc:sng:ejae01:199 Template-Type: ReDIF-Article 1.0 Author-Name: Aleksandra Belačić Author-Name: Slavko Alčaković Title: The Impact of Media Digitalization on Political Communication in Serbia Abstract: Success in the political power game is all about how political parties get their messages across to voters, and lately, it's become a significant issue because technological advances have turned the old one-way communication into a two-way discussion on the internet. The concept at the back of this work was to explore the mere development of the shift in attention from traditional to digital media within the political context, highlighting that this phenomenon is often ignored, asauthors, due to the rapid development of the internet, have a tendency to presuppose electorate's inclination to acquire political information mainly via digital channels. Drawing such a premature and simplified conclusion is not justified because despite the surging use of digital media, traditional media such as radio and television still have a good number of adherents, so they also play a role in political dynamics. To determine the extent to which digital media have succeeded in becoming substitutes for traditional ones, we conducted research on the political information consumption preferences of Serbian voters. The research was based on the initial hypothesis that contemporary political communication should be executed mainly digitally. The survey participants responded to a series of questions related to their habits related to political news intake from various traditional media and their digital equivalents. Quantitative analysis of responses was conducted using version 26 of the SPSS software. Following this, a qualitative analysis was carried out, convincing the authors to accept the hypothesis, as the results showed that the sample leans towards the preference for digital media in the context of political information gathering. However, said preference is not overly pronounced, considering that traditional media still enjoy a significant level of popular Keywords: political communication, political marketing, digital platforms, traditional media, digital media Journal: The European Journal of Applied Economics Pages: 18-29 Volume: 21 Issue: 1 Year: 2024 DOI: 10.5937/EJAE21-49048 File-URL: https://journal.singidunum.ac.rs/files/2024-21-1/the-impact-of-media-digitalization-on-political-communication-.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/the-impact-of-media-digitalization-on-political-communication- File-Format: text/html Handle: RePEc:sng:ejae01:200 Template-Type: ReDIF-Article 1.0 Author-Name: Slavka Zezeković Title: Post-Socialist (Urban) Financialization in Serbia: An Empirical Insight Abstract: The paper explores Serbia’s post-socialist financialization based on the galloping urban real estate trends after the global crisis in 2008. Financialization as a global process had a significant role in the socio-economic development and urban changes in different contextual frameworks, including the post-socialist European countries. However, there are not enough studies on financialization in these countries, while in Serbia they are completely absent. Focusing on post-socialist Serbia in the post-crisis period, the paper situates the narrative of urban financialization into the broader context by: illuminating the financialization dimensions; identifying the indicators for selected financialization dimensions; analyzing concrete data for selected financialization dimensions by specific indicators, and comparing available indicators of financialization with those in some post-socialist countries of Central and Eastern Europe (CEE) and South-Eastern Europe (SEE). The empirical analysis provides insight into the complex nature of urban financialization which is measured by specific indicators. The findings point to a connection between the intertwining of global financial and macroeconomic trends and the urban development processes. It is assumed that there is a certain correlation and interconnection between (urban) financialization and developmental, monetary and financial policies and foreign financial inflows in Serbia. Keywords: financialization, commercial and residential properties,urban financialization, post-socialist countries, Serbia Journal: The European Journal of Applied Economics Pages: 30-47 Volume: 21 Issue: 1 Year: 2024 DOI: 10.5937/EJAE21-48685 File-URL: https://journal.singidunum.ac.rs/files/2024-21-1/post-socialist-urban-financialization-in-serbia-an-empirical-.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/post-socialist-urban-financialization-in-serbia-an-empirical- File-Format: text/html Handle: RePEc:sng:ejae01:201 Template-Type: ReDIF-Article 1.0 Author-Name: Vladimir Mirković Author-Name: Marina Iliev Matić Author-Name: Branislav Dudić Title: Measuring Banking System Resilience by Using the Texas Ratio Abstract: The issue of banking sector resilience is one of the most exploited after the global financial crisis. Competent authorities and central banks worldwide conducted a series of actions to strengthen their systems and made them more resilient to extraordinary events. For that purpose, there were conducted stress tests leading to results for the improvement of the central bank's supervisory activities and practices. Also, the analysis of banking sector resilience should be complemented with other measures, which are also treated as early warning indicators. Texas ratio is one of the early warning indicators that could indicate the banking system's stability through the analysis of non-performing loans as a portion of "toxic" assets in banks. A high percentage of non-performing loans poses a serious threat to banking institutions' ability to survive, hence it is crucial to monitor them and find effective solutions. The authors of the research stress the importance of using the Texas ratio when evaluating the resilience of the banking industry. The main findings of the paper are reflected in a positive correlation between NPL and Texas ratio and recommendation for Texas ratio's widespread usage in practice. Keywords: resilience, banking sector, non-performing loans, Texas ratio, Republic of Serbia Journal: The European Journal of Applied Economics Pages: 48-59 Volume: 21 Issue: 1 Year: 2024 DOI: 10.5937/EJAE21-48577 File-URL: https://journal.singidunum.ac.rs/files/2024-21-1/measuring-banking-system-resilience-by-using-the-texas-ratio.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/measuring-banking-system-resilience-by-using-the-texas-ratio File-Format: text/html Handle: RePEc:sng:ejae01:202 Template-Type: ReDIF-Article 1.0 Author-Name: Sanja Jelača Author-Name: Marko Golubović Title: The Impact of the Quiet Quitting Phenomenon on Employees in Serbia Abstract: Employees play a pivotal role in organizational functionality, underscoring the crucial importance of effective human resources management. In recent years, the global dissemination of a workplace behavior concept termed 'quiet quitting' has gained momentum through online platforms. This behavioral model involves employees performing the minimum required, showing reluctance to exceed expectations. This study explores the prevalence of 'quiet quitting' in organizations within Serbia, utilizing survey methodology. Our findings suggest that rather than a novel concept, 'quiet quitting' represents a contemporary label for an enduring behavior, characterizing individuals with limited workplace engagement often rooted in job dissatisfaction. While 'quiet quitting' is not widely recognized in Serbia at present, Generation Z members exhibit heightened susceptibility. This research, the first of its kind in Serbia, aligns with the identified global phenomenon, establishing a foundation for extensive exploration within both business and academic realms. Our extensive conclusions underscore the need for continued investigation into quiet quitting, contributing valuable insights for organizations seeking to comprehend, address, and elevate the discourse on employee engagement within the Serbian professional landscape. Keywords: quiet quitting,Serbia,employee engagement,burnout,human resources Journal: The European Journal of Applied Economics Pages: 60-80 Volume: 21 Issue: 1 Year: 2024 DOI: 10.5937/EJAE21-47933 File-URL: https://journal.singidunum.ac.rs/files/2024-21-1/the-impact-of-the-quiet-quitting-phenomenon-on-employees-in-.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/the-impact-of-the-quiet-quitting-phenomenon-on-employees-in- File-Format: text/html Handle: RePEc:sng:ejae01:203 Template-Type: ReDIF-Article 1.0 Author-Name: Festus O. Ogunjobi Author-Name: Ibrahim Abidemi Odusanya Author-Name: Emmanuel Olajide Adebayo Title: Public Education Recurrent Expenditure and Productivity in the Manufacturing Sector in Nigeria Abstract: The debate on whether governments should increase their human capital investment is a popular topic within the realm of economics. This research seeks to solve this issue by looking into the importance of productivity in the manufacturing output as well as the function of productive expenditure. The study examines how the recurrent expenditure of public education in Nigeria between 1981 and 2019 affected manufacturing productivity. The study employed the Augmented Dickey-Fuller (ADF) unit root test and Auto Regressive Distributive Lags (ARDL) approach to analyse the relationship between public education recurrent expenditure, public health spending, trade openness, inflation rate, and the output of the manufacturing sector. The study reveals that public education recurrent expenditure is not significantly associated with manufacturing productivity. According to the study, the government should also concentrate on implementing policy frameworks aimed at improving manufacturing sectorproductivity by targeting public recurrent education spending. Keywords: recurrent education expenditure, manufacturing output, economic growth Journal: The European Journal of Applied Economics Pages: 81-94 Volume: 21 Issue: 1 Year: 2024 DOI: 10.5937/EJAE21-47898 File-URL: https://journal.singidunum.ac.rs/files/2024-21-1/public-education-recurrent-expenditure-and-productivity-in-the-.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/public-education-recurrent-expenditure-and-productivity-in-the- File-Format: text/html Handle: RePEc:sng:ejae01:204 Template-Type: ReDIF-Article 1.0 Author-Name: Božidar Čakajac Author-Name: Nenad Janković Author-Name: Miloš Dimitrijević Title: Challenges of Financing the Current Account Deficit of the Republic of Serbia Abstract: Developing countries, including the Republic of Serbia, due to the lack of capital and the disparity between domestic accumulation and investment spending find a solution for financing the current account deficit in the import of foreign capital, which results in financial balance surpluses. In conditions of insufficient inflow of foreign capital, an additional source of financing the balance of payments imbalance is borrowing abroad. The aim of the research is to identify the key sources of financing the current account deficit of the Republic of Serbia in the 2007-2022 period. The research results suggest that, although during the last few years the coverage of the current account deficit is largely provided by the net inflow of foreign direct investments, these funds are still not sufficient to ensure the financing of the deficit components of the current account of the Republic of Serbia. This is greatly contributed by the fact that one of the main deficit components is precisely the ever-increasing outflow of income that is realized on the basis of these investments. Due to all of the above, borrowing abroad is still used as an option for financing the deficit. Keywords: current account deficit, remittances,foreign direct investments,external debt Journal: The European Journal of Applied Economics Pages: 95-109 Volume: 21 Issue: 1 Year: 2024 DOI: 10.5937/EJAE21-47846 File-URL: https://journal.singidunum.ac.rs/files/2024-21-1/challenges-of-financing-the-current-account-deficit-of-the-republic-.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/challenges-of-financing-the-current-account-deficit-of-the-republic- File-Format: text/html Handle: RePEc:sng:ejae01:205 Template-Type: ReDIF-Article 1.0 Author-Name: Beáta Stehlíková Title: Clustering Based on the Archetypal Analysis Abstract: Archetypal analysis is a dimensionality reduction technique, which is based on finding a small number of representative elements, called archetypes. The observations are then approximated by convex combinations of the archetypes. The coefficients of the convex combinations can be therefore interpreted as probabilities of discrete random variables. The values of the variables identify the classes, represented by the archetypes, to which the observation belongs. Based on this interpretation, we propose to use the Hellinger distance between probability distributions to measure the distance between the observations in the dataset and to use it as an input to clustering. We apply this procedure to monthly data of zero-coupon yield curves in 2003-2022. We identify the archetypal yield curves and cluster the observed curves into six clusters. Since the observations are measured in time, the resulting clustering also gives a segmentation of the time period under consideration. Keywords: archetypal analysis, probability distribution, Hellinger distance, clustering, yield curve Journal: The European Journal of Applied Economics Pages: 110-120 Volume: 21 Issue: 1 Year: 2024 DOI: 10.5937/EJAE21-45523 File-URL: https://journal.singidunum.ac.rs/files/2024-21-1/clustering-based-on-the-archetypal-analysis.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/clustering-based-on-the-archetypal-analysis File-Format: text/html Handle: RePEc:sng:ejae01:206 Template-Type: ReDIF-Article 1.0 Author-Name: Tane Murgoski Title: Relationship Between Onboarding Process and Organizational Culture in the Pharmaceutical Industry in North Macedonia Abstract: Using the Voice of the Organizations (Vox) instrument, this paper examines the relationship between the onboarding process and organizational culture in the pharmaceutical industry in North Macedonia, with particular reference to drug manufacturing companies. The four-dimensional Vox model has been extensively utilized and focuses only on the four designated types of organizational culture. A total of 228 responses were collected and analyzed using SPSS software by distributing online questionnaires to employees in drug manufacturing companies in North Macedonia. The results indicate that Entrepreneurial Democracy is the most preferred organizational culture during their onboarding process. Moreover, the analysis investigates the impact of generational differences, work experience, and job categories on perceptions of organizational culture in greater detail. Diverse aspects exhibited significant differences, highlighting the need for organizations to address specific dimensions during the onboarding process to foster a positive work environment. Overall, this study contributes valuable insights into the relationship between the onboarding process and organizational culture in the pharmaceutical industry, laying the groundwork for future research and providing organizations with practical implications. Keywords: organizational effectiveness, onboarding, organizational culture, pharmaceutical industry Journal: The European Journal of Applied Economics Pages: 121-142 Volume: 21 Issue: 1 Year: 2024 DOI: 10.5937/EJAE21-44834 File-URL: https://journal.singidunum.ac.rs/files/2024-21-1/relationship-between-onboarding-process-and-organizational-culture-in-the-pharmaceutical-industry-in-north-macedonia.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/relationship-between-onboarding-process-and-organizational-culture-in-the-pharmaceutical-industry-in-north-macedonia File-Format: text/html Handle: RePEc:sng:ejae01:207 Template-Type: ReDIF-Article 1.0 Author-Name: Aleksandra Minić Author-Name: Sanja Filipović Title: On the Path to Sustainability in Gulf Cooperation Council States: Readiness for Energy Transition Abstract: Whilst stakeholders and policymakers in industry and academia increasingly use circular and sustainable, the terms are not clearly understood. Furthermore, the need for a switch from a current economic model (linear) to a circular one has been recognized globally by the major decision-makers. The shift from one mechanism to another experiences challenges in grasping the Circular Economy (CE) and Sustainability (S) principles: defining them, understanding the similarities and differences, and successfully applying them using the Triple Bottom Line (TBL) approach. Employing a systematic literature review, the paper aims to clarify the ambiguities and add to clarity by exploring the concepts and the relationship of CE and S by applying the TBL framework – social, environmental and economic variables. The gaps regarding relations to people and profit contribution are identified in the literature, and future research priorities and new frameworks are recommended. Finally, the objective is to ascertain whether a strategic approach to sustainability and measures are in place in the Gulf Cooperation Council (GCC), such as increased investment in renewable energy infrastructure that could positively affect energy transition readiness, evidenced by energy efficiency indicators (reduced carbon emissions). Hence, three GCC countries were selected, their goals, and challenges were explored, and further research was recommended. Keywords: circular economy, sustainability, triple bottom line, people planet profit, GCC Journal: The European Journal of Applied Economics Pages: 143-163 Volume: 21 Issue: 1 Year: 2024 DOI: 10.5937/EJAE21-49448 File-URL: https://journal.singidunum.ac.rs/files/2024-21-1/on-the-path-to-sustainability-in-gulf-cooperation-council-states-readiness-for-energy-transition.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/on-the-path-to-sustainability-in-gulf-cooperation-council-states-readiness-for-energy-transition File-Format: text/html Handle: RePEc:sng:ejae01:208 Template-Type: ReDIF-Article 1.0 Author-Name: Ivana Vasić Author-Name: Jelena Gajić Author-Email: jgajic@singidunum.ac.rs Title: The Importance of Social Media in the Promotion and Development of the Creative Industries in the Republic of Serbia Abstract: Creative industries are a key element of contemporary creativity and modern economies and have a great influence on various spheres of society. The COVID-19 pandemic has significantly accelerated the application of digital transformation by finding numerous innovative ways to consume creative and cultural content, thereby strengthening interconnectedness. Predictions at the global level indicate that in the coming years, there will be an intensive use of digital tools that will have a great impact on and be important for promoting the content of the creative industries. Social networks will play a key role in attracting audiences and creating brands in the market. The main driving force behind the development of creative industries in many countries, including ours, will be digital transformation. The paper aims to analyze different approaches to defining the creative industries sector and their impact on the economic and cultural development of the Republic of Serbia. A special contribution of this paper is the conducted research, the focus of which was to determine the perception of the citizens of the Republic of Serbia about the existence and importance of creative industries, as well as the attitudes about the more intensive use of social networks of advertising in the mentioned sector. The results show that our citizens are not sufficiently familiar with the term creative industry and that one of the reasons for this is the lack of marketing activities and the insufficient cooperation of economic and educational institutions in this area. Keywords: creative industries, digital marketing, models of creative industries, Republic of Serbia, social media Journal: The European Journal of Applied Economics Pages: 1-18 Volume: 21 Issue: 2 Year: 2024 DOI: 10.5937/EJAE21-51302 File-URL: https://journal.singidunum.ac.rs/files/2024-21-2/the-importance-of-social-media-in-the-promotion-and-development-of-the-creative-industries-in-the-republic-of-serbia.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/the-importance-of-social-media-in-the-promotion-and-development-of-the-creative-industries-in-the-republic-of-serbia File-Format: text/html Handle: RePEc:sng:ejae01:209 Template-Type: ReDIF-Article 1.0 Author-Name: Stefan Zdravković Author-Email: szdravkovic034@yahoo.com Author-Name: Dragana Gašević Title: Conservatism, Consumer Ethnocentrism, Variety Seeking, Consumer Cosmopolitanism, and Cultural Intelligence as Determinants of Purchasing Foreign Luxury Brands Abstract: Geopolitical tensions caused by the war in Ukraine, the migrant crisis, and economic instability are strengthening nationalist sentiments. Conservatism and consumer ethnocentrism are cohesive factors during crises, based on the principle that it is every citizen's moral duty to protect the domestic economy by purchasing domestic products. Some citizens have cosmopolitan attitudes and are open to accepting ideas from other cultures. The aim of the research is to examine the impact of conservatism, consumer ethnocentrism, variety seeking, consumer cosmopolitanism, and cultural intelligence on consumers' decision to purchase foreign luxury brands. The study was conducted in early 2024 in the territory of the Republic of Serbia. The total number of respondents in the sample was 511, and their responses were analyzed using SEM model within the statistical program SmartPLS 4. The results showed that conservatism has not statistically significant, while consumer ethnocentrism has a statistically significant negative impact on the purchase of luxury foreign brands. Variety seeking, consumer cosmopolitanism, and cultural intelligence have a positive and statistically significant impact on consumers' decision to purchase foreign luxury brands. The research contributes by providing information that can be useful to managers in formulating marketing strategies for the market of the Republic of Serbia. Keywords: conservatism, consumer ethnocentrism, variety seeking, consumer cosmopolitanism, cultural intelligence Journal: The European Journal of Applied Economics Pages: 19-30 Volume: 21 Issue: 2 Year: 2024 DOI: 10.5937/EJAE21-53206 File-URL: https://journal.singidunum.ac.rs/files/2024-21-2/conservatism-consumer-ethnocentrism-variety-seeking-consumer-cosmopolitanism-and-cultural-intelligence-as-determinants-of-purchasing-foreign-luxury-brands.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/conservatism-consumer-ethnocentrism-variety-seeking-consumer-cosmopolitanism-and-cultural-intelligence-as-determinants-of-purchasing-foreign-luxury-brands File-Format: text/html Handle: RePEc:sng:ejae01:210 Template-Type: ReDIF-Article 1.0 Author-Name: Ivana Ilić Author-Name: Dejan Ilić Author-Email: dejantilic@gmail.com Author-Name: Ines Ilić Author-Name: Aleksandar Mihajlović Title: Application of the Ahp-Promethee Method for Selecting the Optimal Electric Vehicle for Urban Transport Abstract: This study elucidates the findings derived from the implementation of the integrated AHP-PROMETHEE multi-criteria decision-making method aimed at selecting the most suitable electric vehicle for urban transport. The AHP methodology facilitated the identification of critical criteria influencing the selection of an electric vehicle for urban use, including factors such as price, battery warranty, charging speed, acceleration to 100 km/h, maximum speed, engine power, efficiency, battery performance, and mileage. The subsequent application of the PROMETHEE method allowed for the ranking of nine electric vehicles based on these established criteria. Each vehicle alternative was assessed regarding its capacity to fulfill the specified requirements and preferences of the decision-makers. The analysis revealed that the Mini Cooper E emerged as the model that most effectively aligns with the prioritized criteria. This vehicle is deemed the optimal selection for urban transport needs, considering all pertinent factors. The decision to select a specific electric vehicle is expected to influence the efficiency, sustainability, and economic viability of the urban transportation system. Furthermore, it is advisable to maintain ongoing surveillance of advancements in electric vehicle technology and charging infrastructure to ensure that the selected model continues to represent the best option in the future. Keywords: integrated AHP-PROMETHEE method, criteria, ranking, electric vehicles, technology Journal: The European Journal of Applied Economics Pages: 31-41 Volume: 21 Issue: 2 Year: 2024 DOI: 10.5937/EJAE21-53509 File-URL: https://journal.singidunum.ac.rs/files/2024-21-2/application-of-the-ahp-promethee-method-for-selecting-the-optimal-electric-vehicle-for-urban-transport.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/application-of-the-ahp-promethee-method-for-selecting-the-optimal-electric-vehicle-for-urban-transport File-Format: text/html Handle: RePEc:sng:ejae01:211 Template-Type: ReDIF-Article 1.0 Author-Name: Jadranka Kosović Author-Name: Lazar Dražeta Author-Email: ldrazeta@singidunum.ac.rs Author-Name: Borivoje Đokić Author-Email: boris.djokic@gmail.com Title: Role of HRM in Fostering Creativity: An Application in it Organization Abstract: This research paper aims to delve into the significance and role of contemporary Human Resources Management (HRM) practices in not only attracting creative individuals to the organization but also in fostering environments conducive to their work, development, and self-actualization. Understanding how to cultivate creativity at both individual and organizational levels has become crucial for every organization in the Information Technology (IT) industry. These efforts ultimately lead to gaining competitive advantages. With rapid technological advancements and the ensuing competition for talent, the challenge of attracting and retaining high-quality individuals has become increasingly prominent, compelling organizations to seek solutions from HRM. The presented case study in this paper examines the importance of creativity for IT organizations and evaluates the principal components of individual and organizational creativity through a questionnaire comprising 34 questions. The research results highlight HRM practices that contribute significantly. This paper aims to provide insights into theoretical frameworks serving as hypotheses and practical applications of identified practices. Additionally, it encourages HRM practitioners to further explore using the enclosed questionnaire. Keywords: Individual creativity, organizational creativity, HRM practices, IT organizations Journal: The European Journal of Applied Economics Pages: 42-63 Volume: 21 Issue: 2 Year: 2024 DOI: 10.5937/EJAE21-51422 File-URL: https://journal.singidunum.ac.rs/files/2024-21-2/role-of-hrm-in-fostering-creativity-an-application-in-it-organization.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/role-of-hrm-in-fostering-creativity-an-application-in-it-organization File-Format: text/html Handle: RePEc:sng:ejae01:212 Template-Type: ReDIF-Article 1.0 Author-Name: Marina Prebeg Title: Motivating Success: A Study of Employee Empowerment's Link to Customer Satisfaction and Sales Performance Abstract: Empowering employees is a key factor in organizational success, as it boosts motivation and improves individual performance. The aim of this paper is to determine the link between employee empowerment and customer satisfaction as well as sales performance. Sixty (N = 60) employees of a renowned insurance company in Serbia completed two surveys. Data were collected through the use of surveys digitally delivered to participants. The data were analyzed using SPSS 21.0. The findings of this study show a positive relationship between employee empowerment and customer satisfaction. Empowered employees demonstrate a greater sense of ownership and responsibility, leading to improved customer interactions and increased satisfaction levels. The results highlight the key role of employee empowerment in achieving customer satisfaction and sales performance. This study provides valuable insights for managers and decision-makers who want to implement effective empowerment strategies that bring positive results for both employees and the organization as a whole. Keywords: Employee empowerment, motivation, customer satisfaction, sales performance Journal: The European Journal of Applied Economics Pages: 64-73 Volume: 21 Issue: 2 Year: 2024 DOI: 10.5937/EJAE21-49391 File-URL: https://journal.singidunum.ac.rs/paper/motivating-success-a-study-of-employee-empowerments-link-to-customer-satisfaction-and-sales-performance File-Format: text/html Handle: RePEc:sng:ejae01:213 Template-Type: ReDIF-Article 1.0 Author-Name: Piotr Luty Author-Name: Katarzyna Piotrowska Author-Name: Angelika Kaczmarczyk Title: Fair Value Recognition – Polish Accountants Perspective Abstract: The paper aims to explore accountants' attitudes toward fair value measurements. The sample consists of Polish accountants with various working places and practical experiences. The authors assumed no difference in fair value recommendations between accountants. The authors considered a difference in the practical use of fair value models in accountants with more extended experience and the workplace. The methods of analysis of sources (literature), deductive reasoning, and survey research were used. The study used a questionnaire addressed to Polish accountants. The results confirmed that most accountants, regardless of gender, working place or length of experience, recommended a fair value method for improving the credibility of financial figures. Despite the recommendation, more experienced accountants and accountants working in accounting offices mostly use historical cost methods instead of fair value methods. It was verified by analyzing the correlation between the valuation approach and the specific solutions adopted for determining depreciation charges and valuing financial liabilities. The main restriction concerns that the quantitative study was preliminary and refers only to Polish accountants. The article fills the research gap in preferable valuation methods regarding the gender, working places and practical experiences of the person responsible for accounting. Keywords: fair value, accountant, gender Journal: The European Journal of Applied Economics Pages: 74-87 Volume: 21 Issue: 2 Year: 2024 DOI: 10.5937/EJAE21-49589 File-URL: https://journal.singidunum.ac.rs/paper/fair-value-recognition-polish-accountants-perspective File-Format: text/html Handle: RePEc:sng:ejae01:214 Template-Type: ReDIF-Article 1.0 Author-Name: Katarina Bjelić Author-Name: Aleksandra Vujko Author-Name: Aleksa Panić Title: Comparative Analysis of the Kranjska Gora and Zlatibor Tourism Destinations' Competitiveness in Function of Improving the Tourism Offer Abstract: The initial hypothesis of the work was the assumption that Zlatibor has potential for sustainable tourism development, but that the tourism destination Zlatibor is still not sufficiently competitive with the tourism destination Kranjska Gora. The research presents the key features of these areas, and their attractive tourism offers, through a comparative analysis. Also, this paper deals with the chances for the development of sustainable tourism, as well as the improvement of tourist services, specifically Zlatibor, bearing in mind that the Kranjska region is in a much better position, as far as the implementation of the concept of green tourism development. The research was conducted using a modified Integrated Model of Destination Competitiveness (IMDC) model, seeking responses from stakeholders from both Zlatibor and Kranjska Gora (259). Bearing in mind that the responses of stakeholders from Slovenia showed consistently higher values in the assessment of destination competitiveness, the starting hypothesis proved to be correct, and in response to that, guidelines were given for improving competitiveness and overcoming certain threats observed in the research results. Keywords: sustainable development of tourism, tourism offer of Zlatibor, tourism offer of Kranjska Gora, benchmark analysis, IMDC competitiveness model Journal: The European Journal of Applied Economics Pages: 88-106 Volume: 21 Issue: 2 Year: 2024 DOI: 10.5937/EJAE21-50045 File-URL: https://journal.singidunum.ac.rs/paper/comparative-analysis-of-the-kranjska-gora-and-zlatibor-tourism-destinations-competitiveness-in-function-of-improving-the-tourism-offer File-Format: text/html Handle: RePEc:sng:ejae01:215 Template-Type: ReDIF-Article 1.0 Author-Name: Lukmon Oladele Oderinde Author-Name: Gbenga Peter Sanusi Author-Name: Babajide Adesoji Ajayi Author-Name: Remi Atoloye-Kayode Author-Name: Mathew Onalo Agbawn Author-Name: Gideon I. Ihuarulam Title: Global Uncertainty and Unemployment Rate in the UK and Nigeria: Trigger of Regime Change and Its Implications for Policy Analysis Abstract: This study applies a threshold regression model to explore the impact of uncertainty on unemployment in Nigeria and United Kingdom with data from 1970 to 2021. The empirical results show a significant threshold effect of uncertainty on unemployment. The threshold effect estimated value of global uncertainty on unemployment is significantly higher in Nigeria than in the UK. The trigger estimated value for Nigeria and the UK are 0.421 and 0.092 respectively. However, the impact differs in magnitude. While below the threshold value of 0.092, the impact is higher in the UK than in Nigeria, but the reverse holds beyond this threshold. This shows the differential role and impact of sturdy policy formulation and implementation between the two countries. Unemployment rate is lower in the UK than in Nigeria. Finally, the relationship between global uncertainty and unemployment is linear for Nigeria and positive. However, a non-linear and inverted U-shape relationship was confirmed for the UK. It becomes imperative to build world uncertainty into government future policies formulation if the impacts of vagaries of uncertainty on macroeconomic stability and business cycle fluctuations would be mitigated. Keywords: Unemployment rates, Economic fluctuations, Threshold regression, Nigeria, United Kingdom Journal: The European Journal of Applied Economics Pages: 107-124 Volume: 21 Issue: 2 Year: 2024 DOI: 10.5937/EJAE21-51052 File-URL: https://journal.singidunum.ac.rs/files/2024-21-2/global-uncertainty-and-unemployment-rate-in-the-uk-and-nigeria-trigger-of-regime-change-and-its-implications-for-policy-analysis.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/global-uncertainty-and-unemployment-rate-in-the-uk-and-nigeria-trigger-of-regime-change-and-its-implications-for-policy-analysis File-Format: text/html Handle: RePEc:sng:ejae01:216 Template-Type: ReDIF-Article 1.0 Author-Name: Aleksandar Sekulić Author-Name: Emilija Beker Pucar Author-Name: Olgica Glavaški Title: The Nexus Between FDI, External (Im)Balance and Economic Growth on Serbian Real Convergence Path Abstract: The focus of this research is the nexus between foreign direct investments, FDIs, external imbalance and economic growth, in the case of Serbia in the period 2007-2024. From one side, convergence process towards more developed European economies implies fostering of economic growth i.e. real convergence, which is positively connected with FDIs inflows. From the other side, real convergence is usually accompanied with growing external imbalance i.e. current account deficit. The aim of this research is to shed more light onto these relations from the angle of national economy, under methodological framework of estimated VAR model. Empirical findings confirm that FDIs positively influence real convergence, while real convergence is connected with external imbalance deterioration. National economic authorities should continue efforts to maintain and attract FDIs as beneficial type of external capital inflows, having in mind their positive real repercussions and mediumterm external balancing. Nevertheless, essential and long-run efforts should be oriented towards resolving of chronic CA deficit, thereby increasing country’s resistance to global crisis shocks and sudden stop episodes. Keywords: FDIs, real convergence, external (im)balance, Republic of Serbia, VAR model Journal: The European Journal of Applied Economics Pages: 125-137 Volume: 21 Issue: 2 Year: 2024 DOI: 10.5937/EJAE21-52654 File-URL: https://journal.singidunum.ac.rs/files/2024-21-2/the-nexus-between-fdi-external-imbalance-and-economic-growth-on-serbian-real-convergence-path.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/the-nexus-between-fdi-external-imbalance-and-economic-growth-on-serbian-real-convergence-path File-Format: text/html Handle: RePEc:sng:ejae01:217 Template-Type: ReDIF-Article 1.0 Author-Name: Okutimiren A. Olusegun Author-Name: Okuneye B. Adekunle Author-Name: Ajayi F. Odunayo Title: Poverty, Income Inequality and Growth in Nigeria: Looking Beyond Now Abstract: The Nigerian population’s well-being is significantly influenced by poverty, income inequality, and economic growth, which are interconnected issues. While addressing the immediate needs of those living in poverty is important, it is equally essential to examine the long run causes of poverty and inequality. This study utilizes the autoregressive distributed lag (ARDL) approach to investigate the impact of poverty and income inequality on economic growth, using data from 1986 to 2020. The study found that income inequality positively affects economic growth, while poverty negatively impacts economic growth in the long run. The study recommends that the government develop comprehensive policies and programmes that create a favorable environment for growth. These policies should be inclusive and address the specific needs of the poor, providing them with opportunities to access education, healthcare, and employment. Keywords: ARDL, economic growth, income inequality, poverty Journal: The European Journal of Applied Economics Pages: 138-149 Volume: 21 Issue: 2 Year: 2024 DOI: 10.5937/EJAE21-45640 File-URL: https://journal.singidunum.ac.rs/files/2024-21-2/poverty-income-inequality-and-growth-in-nigeria-looking-beyond-now.pdf File-Format: Application/pdf File-URL: https://journal.singidunum.ac.rs/paper/poverty-income-inequality-and-growth-in-nigeria-looking-beyond-now File-Format: text/html Handle: RePEc:sng:ejae01:218