Utjecaj procesa pridruživanja Europskoj uniji na organizacijsku kulturu poduzeća koja posluju u tranzicijskim zemljama

The aim of this research is to reveal the direction of change the cultural dimensions of companies in AP Vojvodina, when the Republic of Serbia – as a country in transition – was being included in the European division of labor. Foreign direct investments from EU countries are used as a method of transposing cultural patterns. The research methodology used here included the application of the Mann Whitney and the Chi square tests to compare the attitudes of the managers of these two groups of companies in AP Vojvodina. The results indicate that there is no statistically significant difference in the attitudes of managers of the two groups of companies, in terms of the questionnaire items that explore the power distance dimension. In AP Vojvodina, masculinity and individualism are still valued to a greater extent by the managers of companies with foreign capital than by those with domestic capital. Managers of the companies with foreign capital show a higher degree of uncertainty avoidance than those with domestic capital, which is contrary to authors’ expectations, though explicable in the context of the recessionary business conditions under which the research was conducted.poduzeća koja posluju u AP Vojvodini, u momentu kada se Republika Srbija – kao tranzicijska zemlja – nalazi u procesu uključivanja u Europsku podjelu rada. Inozemna izravna ulaganja iz zemalja članica EU, služe kao metoda za prenošenja kulturnih obrazaca. Metodologija istraživanja koja je ovdje korištena uključuje primjenu Mann Whitney i hi-kvadrat testova u cilju uspoređivanja stavova menadžera dviju skupina poduzeća u AP Vojvodini. Rezultati pokazuju da ne postoji statistički značajna razlika u stavovima menadžera dvije grupe poduzeća, u odnosu na pitanja koja određuju distancu moći. U AP Vojvodini, rodno muške vrijednosti i individualizam još uvijek su cijenjene u većoj mjeri od strane menadžera poduzeća koja posluju s privatnim kapitalom stranog podrijetla u odnosu na menadžere poduzeća koja posluju s privatnim kapitalom domaćega podrijetla. Menadžeri poduzeća sa stranim kapitalom pokazuju veći stupanj izbjegavanja neizvjesnosti u odnosu na menadžere poduzeća koja posluju s privatnim kapitalom domaćeg podrijetla, što je u suprotnosti s očekivanjima autora, ali se objašnjava recesijskim uvjetima poslovanja pod kojima je provedeno istraživanje

The importance of academic new ventures for sustainable regional development

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Analysis of awareness of electrical energy consumption in companies and households

In this paper are shown results of the research about the awareness of the employed persons in Doboj (BiH) about the energy consumption and costs in companies and also in households. Analysis is performed based on the respondent answers and correspondent tests of questionnaires collected among employed persons. Questionnaire is organized in three main topics about other sources of energy, including fossil fuels and renewable energy as a supplementation and\or replacement for the electric energy. In the conducted research 150 fulfilled questionnaires were collected, representing the respondents opinion about the importance of source of energy related to companies’ energy costs. In this paper relation between of awareness about the energy consumption cots in the company and awareness of the consumption of electricity and the possibility to make household savings in electricity costs

Portfolio optimization in investments : empirical evidence from the Republic of Serbia

The main subject in this study is to test and analyze efficient portfolio optimization in investments with focus on the financial market of the Republic of Serbia. The basic objective of the research is to provide quantitative information about specific aspects of portfolio optimization in investments, especially having in mind the specificities of the financial market of the Republic of Serbia. The methodology used in the research includes quantitative methods in area of portfolio optimization. The results of the research point to the necessity of portfolio optimization in function of return maximization from the investment activities

Fuzzy linear programming in investments

The possibility of the investment performances assessment is especially important in the dynamic business conditions. Hence, the appropriate methodology enables an optimal investment decision. The main objective of the research is to test and analyse the possibility of fuzzy linear programming application in the investment processes with special attention to the investment performances. The methodology used in the research understands the methods of analyses and synthesis and also application of the fuzzy linear programming. The quantitative and qualitative results of the research imply that the application of fuzzy linear programming provide important information about the effects from the investment activities

Efficient management in environmental protection

The subject of this study is to research, analyse and assess the causal relations between efficient management as a useful and necessary "tool" in the daily operations and the modern aspects of environmental protection in contemporary business conditions. The research objective is to achieve the concrete, practically confirmed knowledge of practical, actually usable relation between efficient management and modern aspects and trends of environmental protection. The study methodology includes descriptive and exploratory techniques, as well as analysis and synthesis. The main research hypothesis is that without an efficient management, the optimum approach to the environmental protection cannot be expected nor can an adequate relation towards environment be ensured. The research results provide actual information about the place, role and significance of efficient management in the contemporary environmental protection

Efficient Portfolio Selection and Its Applications to Decision Making

Abstract—Dynamic nature of investment return requires the application of the appropriate methodology, especially regarding enhanced volatility induced by frequent extreme events occurrence. The subject of the research is to analyze the possibility of efficient portfolio selection on the transitional financial market of the Republic of Serbia.  The main objective is to gather empirical evidence about the investment portfolio performance with special attention to the decision making process. The methodology in the research implies the usage of the appropriate portfolio optimization methods. The research results stress the significance of efficient portfolio selection in contemporary business conditions. It can be concluded that it is necessary to examine the volatility of the portfolio assets and thus enabling the efficient portfolio selection, which is especially challenging on transitional markets

Analysis of emloyees awareness of energy costs

In this document analysis of employee awareness about energy costs in companies is given trough tests of questionnaire. There was tree main questions observed about other sources of energy, including fossil fuels and renewable energy as a supplementation and\or replacement for the electric energy. In the conducted research 150 respondent (employees) was included with their opinion about the importance of source of energy related to companies’ energy costs. In this paper relation between companies (employees) with higher energy costs and the level of awareness about different energy source is proven

Random walk theory and exchange rate dynamics in transition economies

This paper investigates the validity of the random walk theory in the Euro-Serbian dinar exchange rate market. We apply Andrew Lo and Archie MacKinlay's (1988) conventional variance ratio test and Jonathan Wright's (2000) non-parametric ranks and signs based variance ratio tests to the daily Euro/Serbian dinar exchange rate returns using the data from January 2005 - December 2008. Both types of variance ratio tests overwhelmingly reject the random walk hypothesis over the data span. To assess the robustness of our findings, we examine the forecasting performance of a non-linear, nonparametric model in the spirit of Francis Diebold and James Nason (1990) and find that it is able to significantly improve upon the random walk model, thus confirming the existence of foreign exchange market imperfections in a small transition economy such as Serbia. In the last part of the paper, we conduct a comparative study on how our results relate to those of other transition economies in the region