The examination and assessment of winery business and contribution to the development of wine tourism of Serbia

The tradition of winemaking on the territory of Serbia dates back to ancient times. Today the activities related to wine production are on the rise, as is the number of wineries, and they participate in the valorization of wine tourism activities as an important Serbian tourist product. The aim of this paper is to assess the business excellence of wine producers in Serbia via the application of BEX model while establishing a correlation with the data on the promotion of wine tourism activities on the analyzed wineries' websites. The attained research results indicate a decrease in the BEX index in 2018 in comparison with the values from 2017 and are within the parameters for good values. However, there is no correlation between the performance of wineries and the promotion of wine tourism on their websites.Publishe

The Impact of Ownership Structure on Corporate Performance in Transitional Economies

The relationship between ownership structure and corporate performance might be remarkably strong and in formative within transition economies. In this research, we explore this relationship, referring to the example of the Republic of Serbia. For that purpose, appropriate linear models have been fitted to the panel dataset compiled from financial reports of 2101 non-financial companies actively operating during the period 2008-2013. The results indicate that, after controlling for size effect, companies characterised by state, dispersed or/and foreign ownership have significantly lower profitability in comparison to their counterparts. We would argue that an intensified agency problem and lack of entrepreneurial spirit might be the root of the profitability problem