An Impact Analysis of Microfinance in Bosnia and Herzegovina

This paper applies the financing constraint approach to study whether microfinance institutions improved access to credit for microenterprises in Bosnia and Herzegovina. According to this approach, microenterprises with improved assess to credit rely less on internal funds for their investments. Thus, we compare investment sensitivity to internal funds of micorenterprises in municipalities with significant presence of MFIs to that of micorenterprises in municipalities with no (or limited) presence of MFIs using Living Standards Measurement Survey and MFI branch location data. Results indicate that MFIs alleviated microbusinessesí financing constraint. This approach is applicable to evaluating microfinance impact in other countries.http://deepblue.lib.umich.edu/bitstream/2027.42/64359/1/wp915.pd

An Impact Analysis of Microfinance in Bosnia and Herzegovina

This paper applies the financing constraint approach to study whether microfinance institutions improved access to credit for microenterprises in Bosnia and Herzegovina. According to this approach, microenterprises with improved assess to credit rely less on internal funds for their investments. Thus, we compare investment sensitivity to internal funds of micorenterprises in municipalities with significant presence of MFIs to that of micorenterprises in municipalities with no (or limited) presence of MFIs using Living Standards Measurement Survey and MFI branch location data. Results indicate that MFIs alleviated microbusinesses’ financing constraint. This approach is applicable to evaluating microfinance impact in other countries.microfinance, impact study, Microfinance Institutions, financing constraints, Eastern Europe, Bosnia and Herzegovina

Quality Management in Education

Having considered the current situation of the Croatian educational system and the quality of all its individual components, we can’t help but notice that the awareness of the importance of education as a foundation for the growth and development of each country isn’t strong enough. Education quality is becoming increasingly important for those who are involved in it either directly or indirectly, and for those who use its services. Access to education and quality education are to be regarded as mutually dependent and indivisible needs and rights. This is primarily achieved by developing creativity, civic and democratic values, as well as by knowledge, abilities and skills needed for everyday and professional life. Basic education is not sufficient or complete, and therefore should be considered only as a basis for learning that needs to be used all life long. Lifelong learning for all has become one of the pillars of development. Quality management is a part of management aimed at achieving quality goals through planning, monitoring, assuring and improving quality. Involving all members of the organization brings us closer to total quality control (Total Quality Management, TQM). Efficient Total quality management system in organization can facilitate quickly challenge in word market. Total quality management realize target and mission in education of young generation. TQM upgrade management quality and quality of work in education institute in general. The key points for the improvement of education are scientific and technological development, social changes and organizational changes. Education efficiency and success don’t depend just on quantity but as well on quality. The quality indicator system of education, as well as the criteria related to the quality indicators help schools to identify the crucial areas of their activities - their own advantages, disadvantages and development opportunities.quality, quality management, total quality management, educational system, quality indicators

Vpliv organizacijske kulture in upravljanja z znanjem na uspešnost razvoja novih finančnih storitev

V prispevku raziskujem, kako organizacijska kultura in upravljanje z znanjem vplivata na uspešnost razvoja novih finačnih storitev. Predstavljamo inovacijski model za razvoj uspešnih finančnih storitev, ki vključuje razvojni proces in dejavnike, ki vplivajo nanj oziroma ga podpirajo. Rezultati raziskave, izvedene na vzorcu finančnih institucij v Sloveniji, kažejo na pomembnost neposrednega in posrednega vpliva organizacijske kulture in znanja na uspešnost novih finančnih storitev

Introducing Maltese linguistics

Maltese is an official language in the European Union and it is used to translate documentation and to interpret parliamentary sessions. The “Europeanisation” of Maltese is discussed by referring to three sources: EU documentation available online in Maltese, EU news in local newspapers and on television. Focus is placed mainly on the extent to which terms of Italian origin are used to translate EU texts into Maltese and whether these terms are divulged in the local media. Results indicate that the presence of words of Italian origin is higher in EU-related websites and newspaper reports than it is in other sources. As a variety which includes terms from different sectorial languages, EU Maltese possesses features which make it quite unique in the local sociolinguistic scene.peer-reviewe

Teaching English Literature in the Digital Era

Not many students (and teachers) like to study (andteach) literature. Reading, analysing and interpreting a literarywork may be a time-consuming and exhausting task especiallyfor those who are not bookworms. How can teachers motivatestudents to read literary works and make them develop criticalthinking? In the age of digital natives where everything startsand ends with a “click” on the swift keyboard, this seems to be afar-fetching undertaking. However, the use of audio-visualdevices and various online educational tools in teaching both –foreign language and literature – might trigger motivation andencourage the learning process. The aim of this paper is toidentify, explore and analyse innovative approaches to foreignlanguage acquisition, more precisely, the English languageteaching and learning, by using literature (prose and poetry) asan unconventional teaching tool. Apart from the works ofclassical literature, the creative works of pop culture such asfilms, TV series, video games and songs will be used as apowerful means of breaking boundaries, learning andintegrating, studying and having fun

Socio-economic consequences and prospective opportunities of the international labour migration as a process of the global labour market development

Purpose: The aim is to study the causes, processes and economic consequences of remittances carried out during international labour migrations in the global labour market. Design/Methodology/Approach: The comprehensive analysis of remittances of migrants based on official data of the World Bank is carried out in this article. The systematic approach and logical research methods were used. The paper analyzes data on the remittances dynamics in the XXI century, shows the largest countries of senders and recipients of migrant workers remittances. Authors studied corridors of cash flows, the cost of transfers depending on the region of departure and the main transfer organizations. Findings: Remittances from migrant workers is the significant amount of aid, especially for low-and middle-income countries, and it is the largest source of external financing for them. The economies of the number of countries are highly dependent on these transfers. According to experts, remittances of migrants are many times higher than the volume of the official development assistance to these countries, as well as remittances of migrants surpass the volume of the foreign direct investment. And according to forecasts, the volume of remittances will only grow. Practical implications: The practical significance of the study is to substantiate and highlight the most important methodological and theoretical economic consequences of remittances of international migration flows. Originality/value: The theoretical and applied value of the study is to substantiate the prospect area with better mechanisms for the implementation, accounting and stimulation of remittances by international labour migrants.peer-reviewe

GENDER EQUALITY ON CORPORATE BOARDS: TOWARDS A MORE INCLUSIVE AND RESPONSIBLE SOCIETY EMPIRICAL EVIDENCE FROM CROATIA

Gender diversity issues are receiving great attention worldwide. Empirical evidence suggests that stronger women representation on boards is positively related to financial performance. Across Europe, initiatives for greater women representation on boards are undertaken. They vary from one country to another and include proposals in national codes, voluntary initiatives, demands for disclosure of nomination policies and legal quotas for women on company boards. Recent data show that women account for an average of 18.6% of the members of boards in the EU 28 member states. Results of the empirical study we provide show that women representation on Croatian companies’ boards is just below European average and that the progress in ten years period has been fairly poor. Still, in Croatia doesn’t exist strong social support nor legislative that would improve gender balance in supervisory and management boards