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Volume 12, Number 2
THE IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON THE FINANCIAL PERFORMANCE IN THE REPUBLIC OF SERBIA
Marko ALEKSIĆ, Miloš PJANIĆ, Nemanja BERBER, Agneš SLAVIĆ
Abstract: Under conditions of globalization and increasing market integration, competitiveness is a prerequisite for survival in the global market. The goal is not only to achieve a competitive advantage but to make it sustainable. The most stable and long-term source is reflected in business innovation. Innovative activities encourage companies’ development and influence the preservation of market position as well as the company’s profitability. The effects of applying the CSR concept can positively influence a company’s financial performance. The authors of this paper investigate whether there is a connection between the concept of corporate social responsibility and financial performance in the Republic of Serbia. The paper presents the results of research conducted in the territory of the Republic of Serbia. The research covers 165 large companies during the period November 2019 - August 2021. The data were processed using the Smart PLS program. The research results show that the application of the CSR concept has a positive effect on the financial performance of large companies in the Republic of Serbia.
Keywords: Corporate Social Responsibility; Financial performance; PLS-SEM, Serbia. DOI: 10.5937/jemc2202095A
Jesa KREINER, Dragana SAJFERT, Živorad VASIĆ, Nikola JANČEV, Milorad ŽIVKOVIĆ
Abstract: In the research of this paper, the center of events is entrepreneurial leadership as a new concept for the work behavior of associates. This study aims to determine the entrepreneurial self-efficiency and inclination of entrepreneurs towards innovation and creativity of entrepreneurs. The research aims to achieve results that reveal the relationship between entrepreneurial leadership and the work behavior of employees. The study tested 360 individuals - subordinates in small and medium enterprises operating in the United States - California, Serbia - Vojvodina, and Belgrade, and Bosnia and Herzegovina - Republika Srpska. Based on the obtained results, a model was made and hypotheses were tested. It was a big problem to harmonize the results of research from these three regions. Careful processing of the data resulted from these results. The results obtained have a significant effect on innovative entrepreneurship, which again aims to determine whether there is entrepreneurial leadership and in what form. The research found that innovative entrepreneurs mediate between entrepreneurial leadership and the innovative behavior of associates. The results obtained in this study confirm the hypothesis that entrepreneurial self-efficiency has an adequate effect on the connection between entrepreneurial leadership and the innovative behavior of employees in the companies in which they work. The results of this research work are intended to achieve the originality of entrepreneurship and small and medium enterprises dealing with innovation and a challenging business environment. According to the findings of numerous authors who deal with this issue, this research is not the first attempt to develop innovative behavior of employees in entrepreneurial small and medium enterprises, but it certainly has a great impact on increasing the effectiveness of entrepreneurial leadership on innovative behavior.
Keywords:Entrepreneurial leadership; Innovative environmental; Innovative work behavior; Innovative employee behavior. DOI: 10.5937/jemc2202104K
EFFECTIVENESS OF TECHNICAL AUDIT IN THE POWER SECTOR: A CASE FROM A DEVELOPING COUNTRY
Clifton LIKHA, Andrew Munthopa LIPUNGA, Steven KUCHANDE
Abstract: The paper examines the level and the factors that influence the effectiveness of technical audit in the power sector of Malawi from the perspective of auditors and auditees. Data was collected through a questionnaire that was analyzed using bivariate and multivariate statistics. Further to that, complementary data to measure the level of effectiveness was also collected and analyzed using the effectiveness calculator. Results show that the level of effectiveness of technical audit is low. Bivariate and multivariate analyses suggest that management support, organizational independence, and audit quality individually and collectively significantly influence the level of technical audit effectiveness.
Keywords: Effectiveness; Internal audit; Malawi; Power sector; Technical audit. DOI: 10.5937/jemc2202119L
EVALUATION OF FINANCIAL PERFORMANCE AND EFFICIENCY OF COMPANIES IN SERBIA
Radojko LUKIC
Abstract: Recently, various methods of multi-criteria decision-making, as well as DEA(Data Envelopment Analysis) models, have been used more and more worldwide to measure the financial performance and efficiency of companies. Based on that, this paper analyzes the efficiency of companies in Serbia using the ARAS method. According to the ARAS method, five most efficient companies in Serbia are JP POŠTA SRBIJE BELGRADE, JP EPS BELGRADE, JP SRBIJAGAS NOVI SAD, JP PUTEVI SRBIJE BELGRADE and COCA-COLA HBC - SERBIA DOO ZEMUN. First four are public companies, and the fifth is from the processing industry sector. Public enterprises are fundamentally efficient. Trading companies are well positioned. So, for example, the DELHAIZE SERBIA DOO BELGRADE retail chain is in the eleventh place. The efficiency factors of companies in Serbia are, in addition to macroeconomics, managerial skills in managing the company. They differ from company to company. Digitization of the company's entire operations plays a significant role in this.
Keywords: ARAS method; Financial performance; Efficiency; Factors; Companies; Serbia. DOI: 10.5937/jemc2202132L
ATTRIBUTIVE QUALITY OF PRODUCTS IN DECIBELS
Branko POPOVIĆ
Abstract: Traditional engineering can successfully define only the quality of measuring instruments and completed processes (PCI precision indices and PPI accuracy), while the quality of process results (semi-finished product, product, software, service) can only describe (good or bad quality, better or worse quality). In the modern consideration of quality, the quality of process results, today is defined by the number of decibels (dB), according to the discovery of the genius Japanese scientist Genichi Taguchi (1924 - 2012), pursuant to the Robust Technology Development Method. and standard ratio (S/N). Modern engineering considers the quality of process results, measuring instruments, and completing processes according to their quality characteristics (continuous, attributive). More often, continuous characteristics that can be more precisely defined are considered, while attribute characteristics can only be estimated. In this paper, four different types of process result quality with one attributive input variable are considered. After the calculations, the following results were achieved: in two classes with one type of error, poor quality results were obtained − 28.52, in two classes with two types of errors, the results obtained that the separation of A2 is better than A1 due to the difference of 7,532 dB, in the (S/N) ratio of the chemical reaction without side effects, the required results were obtained, in the methods of the ratio of the reaction rate of a chemical reaction with the side reactions, good quality results of 17.40 dB were obtained.
Keywords: Quality engineering; Quality of process results; Attributive characteristic. DOI: 10.5937/jemc2202142P
THE IMPACT OF TECHNOLOGY AUDIT ON TECHNOLOGY CAPABILITIES IN PAKISTANI TRAINING INSTITUTE
Asjad SHAHZAD, Muhammad ABBAS
Abstract: In recent times, there has been an increasing trend by organizations to focus on audits which help to find out their shortcomings and identify hidden opportunities. Technology audit is one significant example of audits being conducted in Pakistan. In this research, the benefits of the technology audit in the training institutes of Pakistan and its relationship with various technology capabilities are examined. The literature review developed a framework and revealed the positive and significant relationship of technology audit with specific technology capabilities. The top government sector organizations, such as WAPDA Engineering Academy, Faisalabad, and Regional Training Centre (Lahore & Faisalabad) were approached for responses to the questionnaire. For this study, a survey research methodology was adopted in the form of a questionnaire. 205 valid responses were used to analyse the data using Reliability analysis, Normality Tests, Correlation Matrix and Regression Analysis. The results revealed the potential benefits of technology audit, such as a better technology environment; improved knowledge about competitors; improved innovation; better quality and research; and improved technology creation, acquisition, exploitation, and protection. The tested and verified model filled to void in the literature of demonstrating the benefits of technology audit, and how this would allow the training institutes to identify the technical shortcomings in their organization leading to better technology capabilities. Moreover, as a practical contribution, macro and micro-level recommendations are made, supporting training institutes to improve overall organisation technology capabilities.
Keywords: Technology Audit; Quantitative Methods; Technology Capability. DOI: 10.5937/jemc2202151S
Srđana TABOROŠI, Edit TEREK STOJANOVIĆ, Milan NIKOLIĆ, Predrag MALI, Siniša MITIĆ, Edin STRUKAN
Abstract: The topic of this paper are the values of the individual entrepreneurial orientation and the Theory of planned behavior dimensions, among freelancers in the Western Balkan countries (Bosnia and Herzegovina, Croatia, Montenegro, and Serbia). The effects of four control variables: gender, age, education level, and previous entrepreneurial experience were also examined. Freelancers best perceive support for an entrepreneurial venture as well as their proactivity. Entrepreneurial intentions were assessed as the worst. The greatest impact on the observed dimensions occurs in the division of the sample into freelancers who have/do not have previous experience in entrepreneurship. As for the other control variables, statistically significant differences occur in only three other cases: dimensions RT - Risk-taking and PBC - Perceived behavioral control on the side of male freelancers, and dimension IN - Innovativeness on the side of younger freelancers. A comparison was made with a similar study, where the respondents were conventional employees. In general, freelancers have greater entrepreneurial intentions than conventional employees. Freelancers are more consistent in terms of entrepreneurial intentions: there are no differences in these intentions if the sample is divided according to the gender and age of freelancers. These results are discussed in the paper.
Keywords: Individual entrepreneurial orientation; Theory of planned behavior; Entrepreneurial intention; Freelancers; West Balkan. DOI: 10.5937/jemc2202165T
MINIMUM COVARIANCE DETERMINANT-BASED BOOTSTRAPPING FOR APPRAISING AIR PASSENGER ARRIVAL DATA
Bulent TUTMEZ
Abstract: Air travel management is a case-special process since it includes different types of uncertainties such as ungovernable passenger mobility, variable costs as well as extraordinary restrictions like the Covid-19 pandemic. Therefore, the use of robust and reproducible statistical evaluations under uncertainty is required. The cornerstone of this study is the adaptation of bootstrapping and the robust Minimum Covariance Determinant (MCD)-based parameter estimation under a heterogeneous process. In addition, the study includes a novel bootstrapping regression implementation. The methodological developments have been tested by Serbia's air transport data. The results showed that combining robust estimator and bootstrapping provides some advantages for determining outliers and also making advanced diagnostics. Thus, a state-of-the-art approach based on accuracy, reproducibility, and transparency has been introduced and its usability in the air travel mobility process has been exhibited.
Keywords: Air travel; Robust estimator; Bootstrapping; Correlation. DOI: 10.5937/jemc2202176T