НОВИ ЕКОНОМИСТ

THE LEVEL OF CORPORATE SOCIAL RESPONSIBILITY IN LARGE ORGANIZATIONS IN RELATION TO: SECTOR, ACTIVITY, TYPE OF OWNERSHIP AND LEVEL OF BUSINESS

Marko Aleksić, Nemanja Berber, Dimitrije Gašić — Wed, 08 Nov 2023 00:00:00 +0100

The role and importance of socially responsible business in the last few years has been recognized in various economic activities. In addition to its importance in various economic activities, corporate social responsibility plays an important role for sustainable development. The aim of the work is based on the examination of the achieved level of corporate social responsibility (CSR) in large organizations in R. Serbia in relation to in relation to the sector, economic activity, type of ownership, level of business on the market. The research was conducted in the period from 2019 to 2021 on the territory of the Republic of Serbia, in which 165 large organizations participated. Statistical techniques of the Mann Whitney non-parametric test were used in the paper using a statistical program (SPSS version 25.0). By reviewing the professional and scientific literature on corporate social responsibility, also through the analysis of the obtained results, the authors proved that the hypothesis was partially confirmed between the average dimensions of CSR and by sector, economic activity, type of ownership, level of business in the market. Statistically significant differences exist in the level of corporate social responsibility in organizations in Serbia in relation to economic activity, between company headquarters, between types of companies, while there are no statistically significant differences in the level of CSR in organizations in Serbia in relation to the sector, the level of business on the market

INDEBTEDNESS INDICATORS IN THE SERBIAN TEXTILE INDUSTRY

Miloš Đaković, Nada Milenković, Jelena Andrašić — Wed, 08 Nov 2023 00:00:00 +0100

The company's financing structure is one of the main factors of its successful functioning, as well as finding an adequate balance between its own financing and debt financing. Debt financing is a common way for companies to raise funds for their operations, investments, and other business activities. It involves borrowing money from lenders or investors and agreeing to repay the borrowed amount along with interest over a specified period. Companies can obtain loan financing from various sources such as banks, credit unions, private investors, and bonds. There are many internal determinants that can have a positive or negative impact on the trend of the company's indebtedness. In this study, the authors observed a period of 15 years and 10 companies of the Serbian textile industry, defining a model of internal determinants of companies' indebtedness. The authors used POLS and a fixed effects model to generate an adequate model of determinants. The results indicated a greater adequacy of the POLS model and at the same time showed a negative impact on indicators of financial stability, current liquidity, and profit on assets.

HUMAN RESOURCE MANAGEMENT IN THE CONDITIONS OF GEOPOLITICAL CHANGES

Jelena Zelenović, Nebojša Malenković — Wed, 08 Nov 2023 00:00:00 +0100

For businesses, geopolitics is observed and addressed at the national and regional levels. Given that human resources play a central role in the functioning of enterprises, the ongoing challenge is to employ a variety of human resource management practices in response to crises. Therefore, organizational human resource management policies deserve a strong examination in terms of their impact on the business of enterprises, especially in times of crisis, as a result of geopolitical changes. The paper presents a survey on the attitudes of employees, and it was done on the territory of the Republic of Serbia, through a questionnaire. The questionnaire was distributed via a link, where the questions were with the answers offered, and also presented through the five-point Likert scale. The results are calculated through the SPSS program. Research can serve as a backbone for businesses to improve human resource management, especially in times of crisis. In accordance with the received answers, companies will get an insight into the importance of employee attitudes, and guidelines for further growth and development.

DEVELOPMENT OF THE GLOBAL CRYPTOCURRENCY MARKET

Suzana Stevanović, Vitomir Starčević, Ljubiša Mićić — Wed, 08 Nov 2023 00:00:00 +0100

Cryptocurrencies represent a new form of property that exists only on the Internet. The first cryptocurrency to appear on the global market was Bitcoin, and its appearance is linked to the first financial crisis in 2008. The market capitalization of Bitcoin grew very quickly and in 2017 reached the highest capitalization in history (334 billion US dollars). Later, there was an expansion of new cryptocurrencies, of which there are currently over 1500 (e.g. Ethereum, Tether, BNB, USD Coin, etc.). The emergence of cryptocurrencies as a new concept affects the change in the perception of payments and money as a means of payment in general. The development of the global cryptocurrency market is indeed rapid and dynamic, and it is becoming an increasingly popular method of payment. Since the emergence of cryptocurrencies is not related to central banks, the need to change the classical systems and economic policies of countries is also expressed. The dynamic development of the mentioned market takes place in parallel with the development of information technologies, so there is a trend of capital outflow from classic capital markets to emerging global cryptocurrency markets. The question arises of the survival of traditional banks in the future, as more users trust cryptocurrencies. Global cryptocurrency markets are expected to expand more and more in the future. The paper will analyze the development of the global cryptocurrency market based on a sample of five of the most significant cryptocurrencies today

ECONOMIC CHALLENGES THAT SMALL OPEN ECONOMIES“ ARE (NOT) ALLOWED TO AND CAN (NOT) SOLVE -Why Bosnia and Herzegovina can (not) answer

Spasoje Tuševljak — Wed, 08 Nov 2023 00:00:00 +0100

The modern world is a complicated paradigm of influence and struggle for interests, with the fact that the possibilities of winning positions have diversified and increased in a sophisticated way!? Military, economic and political scenarios and penetration projects are integrated with the aim of gaining dominance in the market, especially in the market of having modern technologies, strategic raw materials and resources. "Exporting ideology" has become the doctrinal and governing credo of the supremacy of the capitalist mode of production and the methodological framework for the operationalization of globalization as the "perfect model" of international economic relations!? Globalization, based on the philosophy of liberalism, cannot consistently function and solve problems because theoretically, the issue of competition, equal rights for all, as well as the issue of subsidies and risk insurance, and the problems of the "natural lottery" have not been satisfactorily resolved!? Contemporary philosophical, political and economic thinking is faced with intriguing conundrums in the domain of formulating answers to the following areas and generated questions: 1. Current position and perspectives of globalization; 2. National economies and international economic order; 3. Sovereignty - security – economy; 4. Classical dichotomy commodity-monetary sector; 5. Economic crises. In all of this, the position of Bosnia and Herzegovina, which is "struggling frantically" to be "its own", "European" and "sovereign", is a special challenge in the current circumstances of institutional and management deformations and incompleteness, in which everyone is continuously against the positions for which a certain political segment advocates, and vice versa!? On the other hand, history teaches us that the vices and whims of the big have always been paid for by the small!!?!!!

ECONOMIC CHALLENGES IN A GLOBALLY TRANSITIONAL ERA: CONTEMPORARY PERSPECTIVES

Panagiotis Kontakos — Wed, 08 Nov 2023 00:00:00 +0100

This article derives its foundation from my conference keynote address. Specifically, the perspectives I have chosen align with images and realities drawn from the contemporary global economy, which I have synthesized into a comprehensive collection of the most significant contemporary economic challenges we encounter worldwide. The purpose of each of these movements is to serve as a vivid point of reference for those of us who are conscientiously striving to enhance academic clarity and reasoning. This endeavor becomes particularly vital in a world characterized by an excess of information, often riddled with contradictions, misinformation, and inaccuracies. Such circumstances frequently lead to substantial gaps in knowledge and, even more significantly, deficits in wisdom.