Determinants of Women's Financial Inclusion: Evidence from the Gulf and the Western Balkan Region

Women's financial inclusion represents a key element in enhancing women's entrepreneurship. The aim of this study is to investigate the impact of age, education, employment, income quintile, and region on the level of financial inclusion (FI). The data for the four Gulf countries (Gulf Cooperation Council) and five Western Balkan countries were gathered from the Global Findex Database 2017. The total sample includes 3,973 women. Multiple linear regression is used to investigate the impact of socio-demographic factors on FI. Additionally, the paper provides an overview of the latest available data on several indicators related to FI at the macro level. The results show that education, employment, and income have a statistically significant positive impact on FI. The relationship between age and FI is statistically significant, exhibiting an inverted U-shape. This means that FI increases up to 55 years, and after that transition point, it starts to decline. Moreover, the region plays a significant role, considering that the level of FI of the respondents from Western Balkan countries is lower than that of those from the Gulf region

A novel approach to measuring digital entrepreneurial competencies among university students

This study aims to develop a model for evaluating digital entrepreneurial competencies (DEC) among Serbian university students and to identify the factors that influence their DEC levels. A quantitative research design was employed, using a structured questionnaire based on the EmDigital framework, with responses collected from 149 students. The data were analyzed using descriptive statistics, non-parametric tests (Mann-Whitney U and Kruskal-Wallis), and Poisson regression to explore relationships between socio-demographic, contextual, and institutional variables and DEC levels. The key findings reveal that employment status, level of study, field of study, and the mother's educational background significantly affect DEC. Students who are more likely to attain higher DEC levels are those who are employed, pursuing undergraduate degrees, studying information technology, and whose mothers have completed high school. These results provide valuable insights for educators and policymakers seeking to enhance DEC in alignment with market demands

Firm-level Green Innovation in Serbia: Key Drivers and Sectoral Insights

Green innovation addresses the environmental challenges that companies face while serving as a key driver of sustainable development by integrating environmental, economic and social dimensions. The aim of this study is to identify the main internal and external factors influencing green innovation in companies and to compare the adoption of green innovation in the manufacturing and service sectors. The analysis is based on data from the Community Innovation Survey for Serbia, which covers the innovation activities of companies in the period from 2020 to 2022. Using logistic regression models, the results indicate that the main internal drivers of green innovation in both sectors are firm-specific factors, equipment procurement, business model and process innovation. Among the external drivers, customer demand and rising costs linked to climate change are the most influential. The findings provide a foundation for designing policy measures and strategies to promote green innovation in developing countries

Increasing human capital by investing in training of employees

This paper deals with the investment in employees in organizations by improving the skills required to perform work tasks. Previous theoretical constructs and empirical findings have shown that knowledge-intensive work practices can lead to increased innovation activities, better employee engagement, higher job satisfaction and lower employee turnover. This paper draws mainly on data from the Harmonized Survey on Continuing Vocational Training in Enterprises and compares the two groups of European countries by economic sector and company size

Consumer online shopping behaviour in the Republic of Serbia post-COVID-19

The COVID-19 pandemic has drastically changed the way individuals and companies function. Several authors investigated consumer behavior after the appearance of the virus. However, no study in Serbia examined online shopping patterns after the pandemic, i.e., after the official declaration of the end of the pandemic by the World Health Organization in May 2023 (post-COVID-19). The aim of this paper is to explore whether there is a significant association between purchasing online before and in the post-COVID-19 period, as well as between consumer age and location and purchasing behavior in the postCOVID-19 period. The data of 298 respondents from Serbia was collected during January 2024. The Chi-square test results indicated a relationship between online shopping habits before and after the pandemic, with 73% of previous non-online shoppers adopting ecommerce in the post-pandemic period. However, the results also revealed no significant association between age or location and the decision to shop online after the pandemic. The study suggests that businesses should prioritise enhancing online shopping platforms, as many consumers have continued or begun using them. Furthermore, it recommends that businesses implement broader, more uniform strategies. Moreover, the study provides a theoretical contribution by expanding knowledge on consumer behavior in the postpandemic period

Navigating entrepreneurship and innovation: The importance of institutional quality in CEE

The research examines the impact of institutional quality on entrepreneurship and patenting activity in Central and Eastern European (CEE) countries, utilizing the Economic Freedom indicators from the Fraser Institute. We hypothesize that higher institutional quality, characterized by limited government intervention, an effective legal system and property rights, capital market and trade institutions, and regulatory framework positively influence entrepreneurial endeavors and patenting outcomes. Strong institutions facilitate access to resources, reduce bureaucratic barriers, and foster an environment conducive to innovative behavior. Employing a panel regression, the paper examines the relationship between various institutions and entrepreneurial and innovation performance in the CEE countries. The results reveal a significant positive correlation between higher levels of economic freedom and increased rates of entrepreneurship and the production of patents. However, the impact of institutional quality is greater in determining entrepreneurship than innovation activities. The findings underscore the importance of institutions in shaping economic development in the CEE region and highlight the need for policy reforms to enhance institutional frameworks to support entrepreneurship better and stimulate patenting activity. Overall, the research contributes to understanding how institutional quality affects economic outcomes, emphasizing the vital role of economic freedom as a driver of innovation and entrepreneurship

Ekonomska neaktivnost žena starijih od 50 godina u Srbiji i Severnoj Makedoniji: komaprativna analiza

Ovaj rad se bavi analizom aktivnosti ženske radne snage starije od 50 godina na dva susedna i po mnogo čemu slična tržišta rada, Srbije i Severne Makedonije. Na oba tržišta rada izražen je značajan i uporan rodni jaz u stopama zaposlenosti radno aktivne populacije (15-64 godine) koji u Srbiji i Severnoj Makedoniji iznosi 11,6% i 16,5% u 2023. godini. Stope aktivnosti žena (15-64 godine) u Srbiji i Severnoj Makedoniji su 65,6% i 54,7%, respektivno, značajno niže u poređenju sa stopama aktivnosti muškaraca, koje su ocenjene na 77,8% (Srbija) i 76,0% (Severna Makedonija). Taj problem se dodatno usložnjava ako se posmatra kroz starosnu distribuciju, pokazujući da su žene starije od 50 godina manje sklone ostanku u radnoj snazi u poređenju sa muškarcima, što ih čini finansijski osetljivim ne samo trenutno, već smanjuje i njihove izglede za pristojnu penziju. U ovom radu se, na bazi korišćenja sekundarnih podataka Ankete o ranoj snazi, ukazuje na uzroke neaktivnosti žena starijih od 50 godina, na uticaj neaktivnosti na rodni jaz na tržištu rada i reperkusije ovakvih trendova na tržištima rada ovih dveju zemalja Zapadnog Balkana na politike u sferi rada i socijalnih pitanja

Decrypting the triad of climate policies, macroeconomic interdependencies and quantitative modelling: A literature review on quantifying climate risks

This structured keyword-based meta-analysis reviews the estimation of climate risk factors and their economic impact in the recent literature between 2009 and 2025. Via examining existing research we are able to extract core statements, critical success and risk factors, considered data sets, implemented quantitative methods, and core empirical results. This allows us to identify current state-of-the-art topics and methodologies. Furthermore, we identify three major interrelated pillars, namely, policy-level considerations, macroeconomic effect chains paired with market-level dynamics, and quantitative modelling methodologies. According to the analysed research articles, a comprehensive understanding of at least two of these pillars is essential for effectively identifying, controlling, and modelling climate risk. This, in turn, helps to develop political strategies for mitigating climate change, which is displayed as a comprehensive triad model that can serve as a didactical basis for policy-decision making

Antecedents of fashion-oriented compulsive buying of young consumers: evidence from an emerging economy

The study aims to examine the antecedents of fashion-oriented compulsive buying of young consumers in a heretofore largely under-studied context of an emerging European economy. Data collection was performed on a convenience sample of 386 Serbian respondents, by means of web-based structured questionnaire. The hypothesised relationships were examined by means of partial least squares structural equation modelling (PLS-SEM). The results of the study indicate impulse buying as the most influential direct determinant of compulsive buying, followed by fashion orientation and materialism. The relationship between fashion orientation and compulsive buying was negatively moderated by perceived consumer effectiveness. The study’s findings provide implications for policy-makers, socialisation agents of young consumers (e.g. families, educational institutions, media) and marketers of fashion brands