EMC REVIEW - ECONOMY AND MARKET COMMUNICATION REVIEW

WOMEN’S ECONOMIC INDEPENDENCE AS A FACTOR OF SOCIAL EQUALITY

Radmila Pejić — 2026-03-15

Women’s economic independence plays a crucial role in promoting social equality, empowering marginalized groups, and dismantling patriarchal power structures. This paper analyzes the role of women’s economic independence in fostering social equality, with a particular focus on the factors shaping it, the challenges women face, and the possibilities for overcoming them. Through an empirical analysis of data from the Republic of Srpska and examples of good practice drawn from international sources, the study examines the impact of educational policies, labor market conditions, and institutional barriers on gender equality. Special attention is given to identifying mechanisms that contribute to increasing women’s economic autonomy, including support for women’s entrepreneurship, education, and changes in social norms. The paper provides a critical review of existing inequalities and proposes recommendations for improving systems that support women’s economic empowerment as a key instrument of social transformation and the strengthening of gender equality. The findings indicate that achieving full economic independence for women is essential for building a more stable and just society.

THE IMPACT OF AI-DRIVEN PERSONALIZATION ON CONSUMER BEHAVIORAL INTENTION AND SATISFACTION IN DIGITAL ADVERTISING

Dragana Nikolić Ristić — 2026-03-15

The contemporary marketing environment, shaped by dynamic technological development, positions artificial intelligence (AI) as one of the key factors transforming communication between companies and their consumers. As an integral component of digital marketing strategies, artificial intelligence enables the identification of target consumer segments, automated content creation, and personalized real-time communication. The aim of this paper is to analyze the impact of AI-driven personalization in digital marketing on consumer satisfaction through the framework of the extended Theory of Planned Behavior (TPB). The empirical part of the study examines the relationships between TPB variables - attitudes, subjective norms, perceived behavioral control and consumer satisfaction as an additional variable, within the context of AI personalization in digital advertising. The research is based on data collected from 205 respondents from Serbia and Bosnia and Herzegovina, with the analysis conducted on the full sample. The results indicate that respondents’ attitudes, subjective norms, and perceived behavioral control regarding AI personalization have a statistically significant positive effect on both behavioral intention and consumer satisfaction. Furthermore, consumer satisfaction has a positive effect on behavioral intention, while education does not have a statistically significant impact on either behavioral intention or consumer satisfaction in digital advertising. The findings contribute to a better understanding of how the integration of AI-driven personalization and digital marketing influences consumer perceptions and loyalty.

ECONOMIC AND DEMOGRAPHIC IMPACTS ON THE PENSION INSURANCE SYSTEM IN THE REPUBLIC OF CROATIA - PROJECTIONS OF THE SUSTAINABILITY OF THE SYSTEM

Maja Vretenar Cobović — 2026-03-15

The pension system in the Republic of Croatia, whose stability directly depends on economic and demographic trends, faces long-standing challenges. The first forms of pension insurance in Croatia were based on informal forms of the so-called old-age insurance, while formal forms developed in the 19th century. After the crisis of the socialist period and the acquisition of independence, Croatia implemented a comprehensive pension reform in two phases. In the first phase, which began in 1999, the aim was to rationalize the existing intergenerational solidarity pension system and make it sustainable. After the first, in 2002, a second pension insurance reform was implemented, which constructed the second and third pension pillars and established capitalized pension savings.
Despite the reforms implemented, the system still faces significant difficulties in its efficient functioning. This paper focuses on the development and analysis of scenarios for the development of the Croatian pension insurance system from 2021 to 2051, using available projections of demographic, administrative and economic indicators. The aim is to identify key variables important for the sustainability of the system, to identify advantages and disadvantages in its development and to propose specific measures and activities for further development of the system. The above recommendations aim to improve the economic and social effects of pension insurance and ensure its long-term sustainability. Various scientific methods were applied in the research, including analysis, comparison, induction, deduction, description and classification, as well as statistical and mathematical methods for detailed analysis of variables.

OPTIMISATION OF RESTAURANT OPERATIONS THROUGH THE USE OF AI TECHNOLOGY: A CASE STUDY OF THE GASTROPOINT RESTAURANT

Sanja Dalton — 2026-03-15

This paper analyses the potential for improving restaurant operations through the implementation of AI technology based on a case study of the restaurant Gastro Point. The purpose of this paper is to analyse the operations before and after the implementation of Artificial Intelligence (AI). Therefore, the aim is to prove that the application of AI enables business improvement through automation, data analysis, trend prediction, and enhancement of the customer experience. Both qualitative and quantitative methods were used to analyse key parameters. The data were collected by semi-structured interviews with the restaurant staff and a few restaurant guests. The research results show that the introduction of AI in the restaurant contributed to an increase in the average daily number of guests, the average order value, the number of regular customers, and the average rating on Google/Trip Advisor. The results also indicate that the implementation of AI contributed to a reduction in food waste, waiting time for orders, and the number of monthly customer complaints.

UNRAVELING CORRUPTION IN THE WESTERN BALKANS: A COMPARATIVE ANALYSIS OF BOSNIA AND HERZEGOVINA’S INSTITUTIONAL AND ECONOMIC DYNAMICS

Selma Delalić — 2026-03-15

This article critically examines the multidimensional phenomenon of corruption in Bosnia and Herzegovina and its broader implications for the Western Balkans. Drawing on historical antecedents and contemporary empirical evidence, the study analyzes corruption’s entrenched nature across political, economic, and cultural dimensions. A mixed-methods approach, integrating qualitative literature review with quantitative surveys and statistical analyses, elucidates the interplay between institutional deficiencies, economic variables, and cultural factors in shaping corruption perceptions. Empirical findings reveal significant correlations between corruption indices, governance shortcomings, judicial inefficiencies, and socio-economic disparities, underscoring the persistent challenge of corruption in post-conflict societies. Moreover, the article explores the transformative potential of EU integration as a catalyst for institutional reform and enhanced accountability. The research offers a comprehensive framework for understanding and mitigating corruption, providing valuable insights for policymakers and scholars dedicated to promoting transparency and sustainable development in the region. By situating Bosnia and Herzegovina within a comparative regional and European context, the study contributes to the broader literature on governance reform by demonstrating how structural fragility, limited political will, and public distrust collectively hinder the effectiveness of anti-corruption initiatives in transitional states.

TRADE IN THE ERA OF DIGITALIZATION AND MARKETING: E-COMMERCE AS A CHALLENGE TO THE TRADITIONAL RETAIL MODEL

Vlatka Bilas — 2026-03-15

Traditional retail models, based on the physical presence of sellers and customers, have dominated commerce for decades. These models enabled direct communication, product inspection, and purchasing decisions shaped by personal impressions, while relationships between buyers and sellers were built on trust and face-to-face interaction. However, rapid technological advancements, the widespread use of the Internet, and the proliferation of smartphones have driven significant digitalization in the retail sector, leading to the emergence of e-commerce as a major sales channel. E-commerce offers consumers greater accessibility to products and services, lower prices, faster product comparisons, and a broader selection on a global scale. Simultaneously, traditional models are evolving to integrate digital elements such as online platforms, delivery and pick-up services, loyalty programs, and personalized communication via email, social media, and chatbots. This article aims to provide a comparative analysis of traditional and online sales, with a specific focus on consumer behavior in Bosnia and Herzegovina (BiH) and the European Union (EU). The analysis examines similarities and differences in purchasing habits, levels of digital literacy, consumer preferences, and challenges, with an emphasis on perceptions of security, pricing, service quality, and customer support. Survey results, conducted simultaneously in BiH and the EU with samples of 100 respondents each, indicate that e-commerce is not universally superior; its effectiveness depends on factors such as digital literacy, market maturity, and consumer habits. Physical stores (traditional/classical) retain relevance but require adaptation to digital-age demands. The optimal strategy lies in hybrid models that combine the speed and convenience of e-commerce with the trust and personal engagement of traditional shopping. This research provides a foundation for future studies on consumer behavior in digital contexts and offers guidance for businesses seeking to refine sales strategies in response to technological and societal change.

BRIDGING THE GAP: THE ROLE OF SOFT SKILLS AND DIGITALIZATION IN CURRENT EMPLOYEE TRAINING AND DEVELOPMENT

Vasilii Ostin — 2026-03-15

This study investigates current trends in employee training and development within the automotive industry, with a special focus on the growing importance of soft skills and digitalization. The main objective is to identify the key factors influencing modern approaches to workforce development in this dynamic sector. To explore these evolving trends, the research adopted a mixed-method approach, combining both qualitative and quantitative data collection.
As part of the qualitative phase, four semi-structured interviews were conducted with representatives from small, medium, and large automotive companies. These interviews offered in-depth insights into organizational strategies and challenges related to employee learning and growth. In addition, a questionnaire survey was carried out to gather employees’ views, preferences, and expectations regarding training opportunities and professional development.
The findings from both methods present valuable recommendations for automotive enterprises seeking to improve or redesign their training programs. By addressing current workforce needs while also anticipating future industry demands, this research helps close the gap between theory and practice. Ultimately, the study offers a well-rounded and forward-looking perspective on the future of employee development in the automotive field.

THE IMPACT OF COMMUNICATION SKILLS AND POLITENESS ON TOURIST SATISFACTION: EVIDENCE FROM BATAM ISLAND HOTELS

Afriana Afriana — 2026-03-15

Communication skills, particularly digital competencies and polite behaviour, play a crucial role in enhancing tourists’ satisfaction and supporting tourism marketing, ultimately contributing to increased tourist arrivals and economic benefits. This study aimed to examine how tourists search for and select hotels, assess the level of politeness demonstrated by hotel staff, and evaluate the impact of communication skills and politeness on tourists’ satisfaction. The research was conducted among hotel guests who stayed in hotels on Batam Island, Indonesia, and focused on five dimensions of communication: written, oral, listening, digital, and non-verbal communication, together with perceived politeness. Data were collected through an online survey of 285 tourists in 2023, using a purposive sampling method. Descriptive statistics, correlation analysis, and regression analysis were employed to analyse the data. The findings indicate that social media platforms and friends’ recommendations were the most frequently used methods for finding hotels. When choosing a hotel, tourists placed greater importance on cost, room and bed specifications, and cleanliness. Additional factors influencing tourist satisfaction included hotel scenery, enjoyable experiences, and the establishment of trust, honesty, credibility, and positive interactions with hotel staff. The results reveal significant correlations between communication skills, politeness, and tourist satisfaction. Satisfaction was found to be strongly associated with linguistic politeness and digital communication skills, both of which emerged as strong predictors of hotel guests’ satisfaction. Listening communication skills were also a significant predictor; however, they showed a negative relationship with satisfaction. These findings suggest that hospitality organisations should integrate digital communication and politeness training into staff development programmes and implement systematic feedback mechanisms to monitor service quality and guest satisfaction. Overall, this study provides practical insights that can assist hotel managers in developing effective marketing and service strategies to attract more tourists to Batam Island.

CLUSTER ANALYSIS OF THE MEMBER COUNTRIES OF THE EUROPEAN UNION ACCORDING TO ENERGY, ENVIRONMENTAL AND ECONOMIC INDICATORS

Mihovil Anđelinović — 2026-03-15

In this paper, a cluster analysis was conducted to group the European Union member states according to energy, environmental and economic indicators for 2023. The selected variables are GDP per capita, the share of renewable energy sources in total energy consumption and CO₂ emissions per capita. The aim of cluster analysis is to group the European Union member states based on economic, energy and environmental indicators in order to identify their mutual similarities and differences. The analysis begins with a hierarchical clustering method using the Ward method with squared Euclidean distance. The dendrogram indicated several potential solutions, and particular attention was paid to solutions with three and five clusters. The observed clusters reflect differences in the level of development and approach to energy policy. Countries with higher levels of economic development are characterized by a lower degree of sustainability due to a lower share of renewable energy sources and high greenhouse gas emissions. Conversely, less developed countries achieve better results according to environmental sustainability indicators, but at the same time have limited economic growth potential. To confirm the stability of the clusters, the K-means method, i.e. a non-hierarchical method, was also applied, which further refined the grouping. The results of the discriminant analysis showed high classification accuracy, confirming the reliability of the model. In conclusion, the cluster analysis provided a deeper insight into energy and environmental patterns within the EU, highlighting the need for harmonization of sustainable policies among members with different levels of economic development. The results obtained can serve as a basis for designing targeted and differentiated policies within the EU that take into account the specificities of each group of countries, with a particularly important balance between economic growth and environmental sustainability.

Digital Informal Learning and the Future Workforce: Cross-Regional Evidence

Hana Trávníčková — 2026-03-15

In today’s dynamic economic environment, the competitiveness of firms and economies depends on the continuous development of their workforce. Informal learning represents a vital yet often underestimated element of this process, shaping graduate lifelong learning, reskilling, and upskilling. This paper examines the informal learning sources of university business students in Europe, focusing on the Czech Republic (Czechia) as a representative of Central Europe, and complements the analysis with evidence from the Republic of China (Taiwan) as a comparative case from Asia. The aim is to identify which informal learning sources are most frequently used by business students and how these preferences compare with the European Union average, as reported by the Adult Education Survey (AES), to assess their implications for lifelong learning, reskilling, and upskilling. The study applies a mixed-methods approach, combining the most recent AES data with primary evidence from a pilot survey conducted in 2025 among 214 undergraduate business students in Czechia and Taiwan. The survey followed the European Commission’s classification of informal learning activities and examined five categories: family, friends, and colleagues; electronic devices; printed materials; visiting educational places; and educational centres. The results indicate that Czech students rely primarily on electronic devices (91.2%) and peer networks (76.0%), while Taiwanese students combine digital resources (84.3%) and family, friends, and colleagues (84.3%) with stronger use of educational centres (49.4%) and guided tours (43.8%). In contrast, EU data highlight the continued importance of printed materials (54.6%). The study concludes that informal learning is not merely a supplement to formal training but an important foundation for building adaptable workforces. By linking European-level statistics with survey-based evidence, it contributes to understanding how universities and policymakers can design strategies that strengthen digital learning and AI-supported tools to prepare students for rapidly changing, technology-driven economies and sustainable growth in the future.

A STUDY ON THE EFFECT OF DIGITAL GAME ADDICTION ON ATTITUDE

Fadime Dilber — 2026-03-15

Increased internet access and usage are considered to be one of the most important determinants of behavioral addictions such as digital game addiction. Children and adolescents constitute a high-risk group in terms of digital game addiction. This situation highlights the importance of specifically addressing children and adolescents in preventive interventions. The purpose of this study is to determine the effect of digital games on attitude change. In this study, the relationship between digital game addiction and attitude change was examined using a structural equation model among 248 students attending a public university who play digital games. According to the results obtained from the analyses, it was found that the reasons individuals play digital games significantly and positively influence the three main dimensions of digital game addiction (“excessive focus and procrastination,” “deprivation and seeking,” and “emotional change and immersion”). These findings indicate that students’ motivations for playing digital games play a decisive role in both the formation process and the continuity of digital game addiction. Based on the study results, it is recommended that intervention programs developed for behavioral addictions such as digital game addiction be designed in a way that takes into account the internal and external motivational factors that drive individuals to play games.

DIGITAL MATURITY OF PUBLIC ADMINISTRATION AND ITS IMPACT ON COUNTRIES’ ECONOMIC PERFORMANCE: A COMPARATIVE ANALYSIS BASED ON THE EGDI, DIGITAL DEVELOPMENT SCORE, AND THE OECD DIGITAL GOVERNMENT INDEX

Zoran Milosavljević — 2026-03-15

The digital maturity of public administration and its impact on countries’ economic performance has become an increasingly important topic in contemporary research on public policy, digital transformation, and macroeconomics. In the context of global digitalization, countries seek to modernize public services, enhance transparency and efficiency, and stimulate economic growth through the use of digital tools and investments in digital infrastructure. The objective of this study is to empirically examine how different dimensions of digital maturity in public administration influence key economic indicators. The analysis is based on three internationally recognized indices: the E‑Government Development Index (EGDI), the Digital Development Score (DDS), and the OECD Digital Government Index. Four research hypotheses are formulated to explore the relationship between digital maturity and GDP per capita, employment in the ICT sector, the efficiency of public–private digital services, and differences between developed and developing countries. The study relies on secondary data obtained from international databases and applies descriptive statistics, correlation analysis, and simple linear regression analysis to assess the relationships between digital maturity indicators and selected economic variables. The empirical results indicate a statistically significant positive relationship between higher levels of digital maturity in public administration and improved economic performance. Countries with higher EGDI and DDS values tend to achieve higher GDP per capita and stronger ICT sector development, while higher OECD Digital Government Index scores are associated with more efficient public–private digital services. The findings confirm that the digitalization of public administration reduces administrative burdens, shortens processing times, lowers operational costs, and improves the overall efficiency and quality of public services. In conclusion, the study demonstrates that the digital maturity of public administration represents a key determinant of contemporary economic development and a strategic instrument for enhancing national competitiveness, particularly in the context of global economic and technological transformation.

CROSS-SECTIONAL ANALYSIS OF ECONOMIC, SOCIAL AND TECHNOLOGICAL FACTORS OF COUNTRIES DEVELOPMENT USING THE I-DISTANCE METHOD

Željko V. Račić — 2026-03-15

Quantitative ranking of countries according to the level of development is conducted using the I-distance method through four models with different sets of selected variables. The analysis covers economic dimensions (GDP per capita in PPS, real GDP growth rate, inflation, public debt, current account balance), labour market and investment indicators (unemployment rate, gross fixed capital formation, foreign direct investment flows), as well as socio-technological dimensions (HDI index and internet usage). The research includes 27 European Union countries in 2024, with the addition of Japan, Russia, the United States, Canada, the United Kingdom, and Bosnia and Herzegovina. The results indicate a high degree of ranking stability, particularly for countries at the top and bottom of the list, while the middle segment shows greater sensitivity to changes in the defined variables. Countries with the highest rankings are characterized by stable macroeconomic performance, high human capital, and developed digital infrastructure, whereas lower-ranked countries indicate structural weaknesses in economic and socio-technological dimensions. The constructed ranking list enables differentiation of countries by the level of development and provides a basis for analysing convergence and structural heterogeneity. The paper contributes to contemporary economic research by applying a transparent, objective, and precise quantitative methodology for country comparison and provides relevant guidelines for economic analysis and development policy.

SOCIOLOGICAL DETERMINANTS OF THE BUSINESS DECISION‑MAKING PROCESS IN BOSNIA AND HERZEGOVINA

Mirjana Čeko — 2026-03-15

This paper examines the sociological factors that influence the business decision‑making process in Bosnia and Herzegovina, with particular emphasis on ethnic affiliation, the role of local communities, social networks, and the level of trust in institutions. In the context of prolonged transition and pronounced social fragmentation, business decisions in this country often do not stem solely from economic criteria but are strongly shaped by broader social circumstances, informal rules, and personal relationships.
The paper starts from the assumption that economic actors in Bosnia and Herzegovina are significantly conditioned by the social environment in which they operate, which is particularly evident in phenomena such as clientelism, reliance on personal connections, and selective trust in institutions. To better understand these processes, an empirical study was conducted on a sample of organizations from the private, public, and non‑governmental sectors. The analysis of the collected data seeks to determine how sociological factors influence business behavior and decision‑making. The paper highlights the need for an approach that goes beyond purely economic models and takes into account the social and cultural specificities of doing business in Bosnia and Herzegovina.

APPLICATION OF GLOBAL INTERNAL AUDIT STANDARDS FOR SUSTAINABLE FINANCIAL REPORTING

Vesna Novaković — 2026-03-15

This paper explores the application of Global Internal Audit Standards, focusing on the challenges and opportunities associated with their implementation. By examining the current landscape of internal audit regulations, this study aims to identify key issues and propose guidelines for successfully adopting global standards in support of sustainable financial reporting. The primary issue under investigation is the interplay between legal regulations governing internal auditing and the perspectives of internal auditors regarding the integration of these new global standards. The hypothesis posits that the adoption of global internal audit standards will lead to significant improvements in business performance; however, there is also a concern that these standards may be too broadly defined.
To substantiate this hypothesis, the paper presents empirical evidence derived from a survey conducted via a structured questionnaire. While the survey provided valuable insights, it also faced limitations, particularly in terms of participant recruitment. Many potential respondents exhibited a lack of interest, leading to a lower response rate, which may have impacted the representativeness and reliability of the findings.