ITEMA 2020 / 4 – Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture - CONFERENCE PROCEEDINGS
ITEMA 2020 / 4 – Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture - CONFERENCE PROCEEDINGS
Contributor(s): Vuk Bevanda (Editor)
Subject(s): Social Sciences, Economy
ISSN: 2683-5991
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Information Technology; Tourism; Economics; Management; Agriculture
Summary/Abstract: Association of Economists and Managers of the Balkans headquartered in Belgrade – Serbia organized the Fourth International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture - ITEMA 2020 online/virtually (due to the COVID-19 pandemic) on October 8, 2020 via Zoom platform.The aim of the ITEMA 2020 conference was to bring together the academic community (experts, scientists, engineers, researchers, students and others) and publication of their papers with the purpose of popularization of science and their personal and collective affirmation. The unique program combined presentation of the latest scientific developments in Information Technologies, Tourism, Economics, Management and Agriculture, interactive discussions and other forms of interpersonal exchange of experiences.Within publications from the ITEMA 2020 conference:• 12 double peer-reviewed papers have been published in the ITEMA 2020 – Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture - Selected Papers,• 34 double peer-reviewed papers have been published in the ITEMA 2020 – Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – Conference Proceedings,• 63 abstracts have been published in the ITEMA 2020 - Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture - Book of Abstracts.ITEMA 2020 publications have more than 500 pages. All papers have been scanned with the Crosscheck (powered by Turnitin) and have ORCID iD integration.Participation in the conference took 114 researchers with the paper representing 20 different countries from different universities, eminent faculties, scientific institutes, colleges, and various ministries, local governments, public and private enterprises, multinational companies, associations, etc.
- Print-ISBN-13: 978-86-80194-36-3
- Page Count: 298
- Publication Year: 2020
- Language: English
EVALUATING GREEN IT IN LOCAL ADMINISTRATION
EVALUATING GREEN IT IN LOCAL ADMINISTRATION
(EVALUATING GREEN IT IN LOCAL ADMINISTRATION)
- Author(s):Manuel Landum, M. M. M. Moura, Leonilde Reis
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:1-7
- No. of Pages:7
- Keywords:Green IT; Information and communication technologies; Sustainability.
- Summary/Abstract:This work is prompted by the massive use of Information and Communication Technologies, the need for alignment with the business, the concern for integrated management and the need to protect natural resources and the environment. This article aims to present a framework, multidimensional and multidisciplinary, from the perspective of sustainability, in the treatment of Green IT, involving environmental issues and social responsibility, Governance of Information Technologies and Financial Management, in the context of Public Administration, more specifically in local administration. The methodology used is based on the literature review, in the field of thematic, and on a case study in development in local government, in order to analyze the feasibility and suitability with the validation of the framework. The main results obtained in the case study focus on the use of technology allied to Green IT, with theoretical reflexes for environmental quality and with possible cost reduction.
A NEW APPROACH IN QUANTIFYING USER EXPERIENCE IN WEB-ORIENTED APPLICATIONS
A NEW APPROACH IN QUANTIFYING USER EXPERIENCE IN WEB-ORIENTED APPLICATIONS
(A NEW APPROACH IN QUANTIFYING USER EXPERIENCE IN WEB-ORIENTED APPLICATIONS)
- Author(s):Vasilije Vasilijević, Nenad Kojić, Natalija Vugdelija
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:9-16
- No. of Pages:8
- Keywords:Web sites; Measuring; Performance; Web vitals.
- Summary/Abstract:The primary goal of every developer is to develop the highest quality web application. The quality of the application is not only a subjective assessment of the developer, but objective and representative criteria for measuring performance must be defined. Google provides a model called Web Vitals with a subset of core Web Vitals that are important for quantifying user experience on the web. Some of the metrics are LCP (Largest Contentful Paint, refers to loading), FID (First Input Delay, refers to interactivity) and CLS (Cumulative Layout Shift, refers to visual stability). This paper will present modern technologies and tools for measuring the performance of websites and analyze them on a real example of a web application. The analysis will include the use and measurement of the most important parameters: Lighthouse, PageSpeed Insights, Chrome DevTools, Search Console, web.dev's measure tool, the Web Vitals Chrome extension and Chrome UX Report API.
COMPARATIVE ANALYSIS OF WEB APPLICATION PERFORMANCE IN CASE OF USING REST VERSUS GRAPHQL
COMPARATIVE ANALYSIS OF WEB APPLICATION PERFORMANCE IN CASE OF USING REST VERSUS GRAPHQL
(COMPARATIVE ANALYSIS OF WEB APPLICATION PERFORMANCE IN CASE OF USING REST VERSUS GRAPHQL)
- Author(s):Milena Vesić, Nenad Kojić
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:17-24
- No. of Pages:8
- Keywords:Web page; GraphQL; REST; Performance.
- Summary/Abstract:Web applications are the most common type of application in modern society since they can be accessed by a large number of users at any time from any device. The only condition for their use is an Internet connection. Most applications run using the HTTP protocol and client-server architecture. This architecture is based on the use of API (Application programming interface), most often REST architecture (Representational State Transfer). If there are several different functionalities on the website that fill their content with data from the web server, for most of them a special HTTP request must be generated with one of the existing methods (GET, POST, PUT, DELETE). This way of communication can be a big problem if the connection to the Internet is weak, there are a lot of HTTP requests because you have to wait for each request to be executed and for the web server to return the data. In this paper, one implementation of GraphQL is presented. GraphQL is an open-source data query and manipulation language for APIs. GraphQL enables faster application development and has less server code. The key advantage is the number of HTTP requests because all the desired data of the page is obtained with one request. This paper will show a comparative analysis on the example of a real website in the case of using the REST architecture and GraphQL in the case of different qualities of Internet connections, code complexity and the number of required requests.
USE OF “OWASP TOP 10” IN WEB APPLICATION SECURITY
USE OF “OWASP TOP 10” IN WEB APPLICATION SECURITY
(USE OF “OWASP TOP 10” IN WEB APPLICATION SECURITY)
- Author(s):Nikola Nedeljković, Natalija Vugdelija, Nenad Kojić
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:25-30
- No. of Pages:6
- Keywords:Web security; Web attack; Weaknesses of the web application.
- Summary/Abstract:Web application security vulnerabilities can lead to various attacks on users, some of which can have major consequences. It is important to point out the weaknesses that allow abuse, because often increased risk awareness is the first step in protecting web applications. Some of the most critical security risks that organizations face today have been analyzed and uncovered using OWASP Top 10. This paper presents concrete examples of attacks and abuse of web applications. Through the implementation and analysis of attacks on web applications, weaknesses that need to be eliminated in order to protect against potential new attacks are identified. Especially, suggestions to help protect web applications from each type of attack listed and described are provided.
A FRAME OF REFERENCE FOR RESEARCH OF A BLOCKCHAIN-BASED SOLUTION TO CORPORATE GRC-MANAGEMENT
A FRAME OF REFERENCE FOR RESEARCH OF A BLOCKCHAIN-BASED SOLUTION TO CORPORATE GRC-MANAGEMENT
(A FRAME OF REFERENCE FOR RESEARCH OF A BLOCKCHAIN-BASED SOLUTION TO CORPORATE GRC-MANAGEMENT)
- Author(s):Le Chen
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:31-38
- No. of Pages:8
- Keywords:Digital transformation; Corporate GRC-management; Software; Blockchain.
- Summary/Abstract:This society has faced many sorts of global challenges, especially the world of business and technological innovation, there's no greater aroused general argument nowadays than digital transformation (DT). Among production-oriented Corporates which many of them have begun to integrate digital technology into most areas of their business. How to well fulfill Corporate Governance, Risk and Compliance (GRC) while expanding existing businesses in the dramatic growth in DT environment has become a major challenge for all Corporates. Through a review of previous studying works and based on existing gaps the author evaluated whether there could be the feasibility of a blockchain-based technology being integrated as a solution to Corporate GRC-Management together with the theory of entire personnel's GRC responsibility system which would be parts of an agenda for the future research on this field and also contribute to Corporates in an overall strategic height level to embrace the coming of DT.
GRAPH DATABASE MANAGEMENT SYSTEMS AND GRAPH THEORY
GRAPH DATABASE MANAGEMENT SYSTEMS AND GRAPH THEORY
(GRAPH DATABASE MANAGEMENT SYSTEMS AND GRAPH THEORY)
- Author(s):Kornelije Rabuzin, Sonja Ristić, Robert Kudelić
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:39-46
- No. of Pages:8
- Keywords:Neo4j; MS SQL server; Oracle; Cypher.
- Summary/Abstract:In recent years, graph databases have become far more important. They have been proven to be an excellent choice for storing and managing large amounts of interconnected data. Since graph databases (GDB) rely on a graph data model based on graph theory, this study examines whether currently available graph database management systems support the principles of graph theory, and, if so, to what extent. We also show how these systems differ in terms of implementation and languages, and we also discuss which graph database management systems are used today and why.
SMALL AND MEDIUM-SIZED ENTERPRISES IN TOURISM AND THEIR IMPACT ON REGIONAL DEVELOPMENT
SMALL AND MEDIUM-SIZED ENTERPRISES IN TOURISM AND THEIR IMPACT ON REGIONAL DEVELOPMENT
(SMALL AND MEDIUM-SIZED ENTERPRISES IN TOURISM AND THEIR IMPACT ON REGIONAL DEVELOPMENT)
- Author(s):Katarína Kráľová, Jana Sochuľáková, Dagmar Petrušova
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:47-53
- No. of Pages:7
- Keywords:Regional disparities; Regional development; Small and medium enterprises; Tourism.
- Summary/Abstract:A long-term problem of the Slovak economy is significant regional disparities caused by insufficient use of existing local resources. Inefficient and unsystematic use of existing resources at the local level causes a decrease in the competitiveness of these regions, which is also reflected in the overall performance of the economy. In our article, after the initial definition of basic terminology, we will focus on the evaluation of regional disparities and the current development of regional differences in the conditions of the Slovak Republic. We will evaluate the impact of SMEs on regional development in the Slovak Republic. However, we will focus primarily on their positive benefits to reducing regional disparities in the conditions of the Slovak Republic. We will pay particular attention to SMEs operating in the field of tourism in individual regions, how they contribute or in the future can solve the problem of reducing regional disparities.
THE MARKETING MIX - A BASIC TOOL IN THE MANAGEMENT OF THE TOURIST DESTINATION
THE MARKETING MIX - A BASIC TOOL IN THE MANAGEMENT OF THE TOURIST DESTINATION
(THE MARKETING MIX - A BASIC TOOL IN THE MANAGEMENT OF THE TOURIST DESTINATION)
- Author(s):Delia Fratu
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:55-68
- No. of Pages:14
- Keywords:Place marketing; Marketing mix; Tourism; Destination.
- Summary/Abstract:Kotler's 2002 definition of place marketing is as follows: "Place marketing means designing a site to meet the needs of its target markets. The development of places means the development for a place of a systematic long-term marketing strategy, directed towards the identification and development of the natural and potential attributes of an area”. The elaboration of a marketing mix for the tourist destination is the main tool for marketing planning and for adopting the most appropriate strategies. Given that each tourist destination has its specificity, the marketing mix must contain its own elements, adapted to the objectives set. In this paper we chose to exemplify a way to apply and combine the components of the following marketing mix: product, price, distribution, promotion, staff, partnerships, packaging, security, process management for the tourist destination Brasov Area.
THE IMPORTANCE OF ACQUIRING INTERCULTURAL COMMUNICATIVE COMPETENCE FOR PRESENT AND FUTURE TOURIST PROFESSIONALS IN MONTENEGRO
THE IMPORTANCE OF ACQUIRING INTERCULTURAL COMMUNICATIVE COMPETENCE FOR PRESENT AND FUTURE TOURIST PROFESSIONALS IN MONTENEGRO
(THE IMPORTANCE OF ACQUIRING INTERCULTURAL COMMUNICATIVE COMPETENCE FOR PRESENT AND FUTURE TOURIST PROFESSIONALS IN MONTENEGRO)
- Author(s):Gordana Mušura
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:69-72
- No. of Pages:4
- Keywords:Intercultural communication; Globalization; Intercultural approach in foreign language teaching; Intercultural speaker; Intercultural awareness and sensitivity; Long-life learning.
- Summary/Abstract:The aim of this paper2 is to discuss and emphasize the importance of acquiring and developing intercultural communicative competence (hereinafter ICC) for tourist professionals in the context of strategic advantages of Montenegro as a tourist destination. Montenegro, as a multicultural, multiethnic and multi-confessional country with a very rich and ancient cultural heritage and preserved natural resources, strives for European integration and achieving international competitiveness in the field of tourism through the development of its strategic advantages. In order to achieve progress in tourism industry, it is necessary to apply an interdisciplinary approach, which includes a symbiosis of elements of culture and tradition with the need and demands of modern tourists who want to communicate with the domicile population, or at least with their hosts, as well as to feel comfortable and welcome at the destination they have chosen for their holiday. Therefore, communicative and affective segments must be added to this interdisciplinary approach which inevitably includes the acquisition of new skills in intercultural communication at the international level. Such communication enables the development of ICC through the inclusion of both linguistic and cultural elements of education in tourism and applying the intercultural approach in foreign language teaching. Furthermore, developing intercultural aspects in tourism should be seen as one of core advantages of smaller and still insufficiently affirmed tourist regions, such as Montenegro, especially in these disruptive circumstances of crisis caused by Covid -19 virus.
ECONOMIC BENEFITS OF ŠUMAVA NATIONAL PARK
ECONOMIC BENEFITS OF ŠUMAVA NATIONAL PARK
(ECONOMIC BENEFITS OF ŠUMAVA NATIONAL PARK)
- Author(s):Josef Stemberk
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:73-81
- No. of Pages:9
- Keywords:Šumava national park; Economic benefits; Acceptance.
- Summary/Abstract:The main task of nature protection is to preserve or improve the current state of nature. Thus, it might seem that the economic benefits of the national park are not important for the management of the protected area, but calculating the economic benefits of protected areas for the region improves its acceptance among locals and visitors, as well as political and economic actors. From 2017 to 2019, Šumava National Park (Bohemian Forest National Park) in the Czech Republic and Nationalpark Bayerischer Wald (Bavarian Forest National Park) were subjected to extensive socio-economic monitoring, which included, among other things, research focusing on the economic benefits that visitors brought to both national parks. This article presents the results of research of the regional economic benefits that visitors brought to Šumava National Park compared with those in Bavarian Forest National Park, although the methods and findings were not absolutely identical and therefore difficult to compare
THE ROLE OF INTERNATIONAL AND PROFESSIONAL ORGANISATIONS’ IN DEFINING STATE-OWNED ENTERPRISES.
THE ROLE OF INTERNATIONAL AND PROFESSIONAL ORGANISATIONS’ IN DEFINING STATE-OWNED ENTERPRISES.
(THE ROLE OF INTERNATIONAL AND PROFESSIONAL ORGANISATIONS’ IN DEFINING STATE-OWNED ENTERPRISES.)
- Author(s):Ioana-Andreea Ciolomic, Ioana Natalia Beleiu
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:83-89
- No. of Pages:7
- Keywords:State-owned enterprises; International and professional organisations; Governance.
- Summary/Abstract:State-owned enterprises (SOEs) have an essential role in national economies worldwide, but regardless of their acknowledged contribution to the global markets, divergent opinions and approaches can be observed when defining and characterizing these entities. On the other hand, international organizations such as OECD, International Monetary Fund, European Commission, United Nations, World Trade Organizations, World Bank, Asian Development Bank, and professional organizations such as IPSASB and Chartered Institute of Management Accountants have an essential role in SOEs' activity. One of the biggest challenges that professional bodies have nowadays is to find a unique definition to match the need of practitioners and capture the complexity of SOEs. Even if there can be identified some common approaches between academicians, international, and professional organizations, there are some delicate areas that require substantial efforts for clarifications. The paper addresses this topic, aiming to clarify the main aspects concerning the definition of SOEs from international and professional organizations' points of view based on qualitative research methods.
TESTING THE EMPIRICS OF WEAK FORM OF EFFICIENT MARKET HYPOTHESIS: EVIDENCE FROM LAC REGION MARKETS
TESTING THE EMPIRICS OF WEAK FORM OF EFFICIENT MARKET HYPOTHESIS: EVIDENCE FROM LAC REGION MARKETS
(TESTING THE EMPIRICS OF WEAK FORM OF EFFICIENT MARKET HYPOTHESIS: EVIDENCE FROM LAC REGION MARKETS)
- Author(s):Hortense Santos, Rui Dias, Paula Heliodoro, Paulo Alexandre
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:91-101
- No. of Pages:11
- Keywords:Covid-19; LAC region; Long memories; Arbitration.
- Summary/Abstract:The new coronavirus disease (Covid-19) evolved quickly from a regional health outbreak to a global collapse, stopping the global economy in a unprecedented way, creating uncertainty and chaos in the financial markets. Based on these events, it is intended in this paper to test the persistence of profitability in the financial markets of Argentina, Brazil, Chile, Colombia, Peru and Mexico, in the period between January 2018 to July 2020. In order to perform this analysis where undertaken different approaches in order to analyze if: (i) the financial markets of Latin America are efficient in their weak-form during the global pandemic (Covid-19)? ii) If so, the persistent long memories cause risks between these regional markets? The results suggest that the returns don’t follow the i.i.d. hypothesis, from dimension 2, reinforcing the idea that returns of stock indexes have a non-linear nature or a significant non-linear component, exception made to the Argentina market, which was expected in virtue of the Ljung-Box (with the return squares) test results, and ARCH-LM. Corroborating the exponents Detrended Fluctuation Analysis (DFA), indicate the presence of persistent long memories, namely into the following markets: Colombia (0.72), Chile (0.66), Brazil (0.58) and Peru (0.57). The Argentina market does not reject the random walk hypothesis, while the Mexican market suggests some anti-persistence (0.41). This situation has implications for investors, once that some returns can be expected, creating arbitration opportunities and abnormal income, contrary to the supposed from the random walk hypothesis and information efficiency. The t-test results of the heteroscedasticity form the two samples suggest that there is no risk transmission between these regional markets, with the exception to the BOVESPA / BOLSAA MX markets, that is, the existence of persistent long memories in the returns does not imply the risk transmission between markets. These finds allow the creation of strategies of diversification inefficient portfolios. These conclusions also open space for the market regulators to implement measures that guarantee a better informational information of these regional markets.
THE IMPACT OF THE COVID-19 ON THE FINANCIAL MARKETS: EVIDENCE FROM G7
THE IMPACT OF THE COVID-19 ON THE FINANCIAL MARKETS: EVIDENCE FROM G7
(THE IMPACT OF THE COVID-19 ON THE FINANCIAL MARKETS: EVIDENCE FROM G7)
- Author(s):Paula Heliodoro, Rui Dias, Paulo Alexandre, Maria Manuel
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:103-112
- No. of Pages:10
- Keywords:Covid-19; G7; Persistence; Long memories; Arbitration.
- Summary/Abstract:This essay aims to analyse the impact of the 2020 global pandemic on the stock indexes of France (CAC 40), Germany (DAX 30), USA (DOW JONES), United Kingdom (FTSE 100), Italy (FTSE MID), Japan (Nikkei 225) and Canada (TSX 300), from January 2018 to June 2020, with the sample being divided into two sub periods: first sub period from January 2018 to August 2019 (Pre-Covid); second period from September 2019 to June 2020 (Covid-19). In order to carry out this analysis, different approaches were taken in order to analyse whether: (i) the global pandemic (Covid-19) increased the persistence of the G7 financial markets? In the Pre-Covid period, we can verify the presence of long memories in the Canadian market (TSX), while the markets in France (CAC 40) and Italy (FTSE MID) show signs of balance, since the random walk hypothesis was not rejected. The German (DAX 30), USA (DJI), United Kingdom (FTSE 100) and Japan (NIKKEI 225) markets have anti-persistence (0 <α <0.5). In period II, the Covid-19-time scale is contained, and we verified the presence of significant long memories, except for the US stock index (0.49). These findings make it possible to show that the assumption of the market efficiency hypothesis may be called into question, because these markets are predictable, which validate the research question. The results of the pDCCA correlation coefficients, in the Pre-Covid period, show 14 pairs of median markets (0.333 → ≌ 0.666). We can also see 7 pairs of markets with strong correlation coefficients (0.666 → ≌ 1,000), showing that these markets have a tendency towards integration, this evidence may call into question the hypothesis of portfolio diversification. In period II (Covid-19) the λ_DCCA correlation coefficients have 7 strong market pairs (0.666 → ≌ 1,000), 5 pairs have weak pDCCA coefficient (0.000 → ≌ 0.333), 5 market pairs show anti-correlation (-1.000 → ≌ 0.000), and 4 market pairs show median coefficients (pDCCA) (0.333 → ≌ 0.666) (out of 21 possible). When compared to the previous subperiod, we found that the majority of the pDCCAs decreased, which shows that the markets have decreased their integration, making it possible to diversify portfolios in certain markets, especially in the Japanese market (NIKKEI 225). These conclusions open space for market regulators to take measures to ensure better informational information, in the stock markets, in the 7 most advanced economies in the world.
THE DOW JONES INDUSTRIAL AVERAGE (DJIA) STOCK MARKET INDEX AND THE CHAOTIC GROWTH MODEL
THE DOW JONES INDUSTRIAL AVERAGE (DJIA) STOCK MARKET INDEX AND THE CHAOTIC GROWTH MODEL
(THE DOW JONES INDUSTRIAL AVERAGE (DJIA) STOCK MARKET INDEX AND THE CHAOTIC GROWTH MODEL)
- Author(s):Vesna Jablanović
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:113-120
- No. of Pages:8
- Keywords:DJIA index; Stability; Elliot waves; Chaos.
- Summary/Abstract:The Dow Jones Industrial Average (DJIA) index includes the stocks of 30 of the largest companies in the United States. It represents about a quarter of the value of the entire U.S. stock market. The changes in the DJIA index are often considered to be representative of the entire stock market. The basic aims of this paper are: firstly, to create the simple chaotic the DJIA stock market index growth model that is capable of generating stable equilibria, cycles, or chaos; secondly, to analyze the local stability of the DJIA index movements in the period 1982-2009; and thirdly, to discover the equilibrium level of the DJIA index in the observed period. This paper confirms the existence of the stable convergent fluctuations of the DJIA index in the observed period. Also, the golden ratio can be used to define the equilibrium level of the DJIA index in the presented chaotic model.
RANDOM STRATEGY VERSUS TECHNICAL ANALYSIS STRATEGY IN THE US MARKET
RANDOM STRATEGY VERSUS TECHNICAL ANALYSIS STRATEGY IN THE US MARKET
(RANDOM STRATEGY VERSUS TECHNICAL ANALYSIS STRATEGY IN THE US MARKET)
- Author(s):Miroslav Svoboda, Martina Sponerová
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:121-127
- No. of Pages:7
- Keywords:Investment decisions; Foreign exchange markets; Moving average; Backtesting; US market; Relative strength index.
- Summary/Abstract:Random strategy is currently an interesting alternative to traditional trading of financial instruments. The paper builds on existing research into the trading of investment instruments through random strategy and strategies based on technical analysis. The highly liquid USD/CAD currency pair was chosen for the US market research. We analyze five years of data, and in every intraday trading session, only a single position will be opened. Technical analysis strategy uses essential indicators such as Bollinger Bands, relative strength index (RSI), moving averages (MA) and other. Every trading position will have the risk-reward ratio (RRR) 3 to 1. In addition, another trading positions on the USD/CAD currency pair will be opened without technical analysis. The time of entry into position will be indicated randomly with a similar risk-reward ratio (RRR) 3 to 1. The aim of this paper is to assess which of the above strategies is more suitable for the investor. In other words, this paper aims to compare the strategy of technical analysis and the random strategy in intraday trading concerning the profitability of these trades. We expect that a random strategy will be more suitable for the investor in many points.
CASH FLOW FORECASTING FOR INTERNATIONAL PROJECTS IN THE PROCESS OF CAPITAL BUDGETING DURING THE COVID-19
CASH FLOW FORECASTING FOR INTERNATIONAL PROJECTS IN THE PROCESS OF CAPITAL BUDGETING DURING THE COVID-19
(CASH FLOW FORECASTING FOR INTERNATIONAL PROJECTS IN THE PROCESS OF CAPITAL BUDGETING DURING THE COVID-19)
- Author(s):Biljana Pejović, Dragana Trifunović, Aleksandra Živaljević
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:129-135
- No. of Pages:7
- Keywords:Cash flows; Capital budgeting; Discount rate; Pandemic.
- Summary/Abstract:By predicting cash flows in the capital budgeting procedure, the profitability of an investment at the international level is determined in advance. Although investing globally provides greater opportunities for earnings, cost reduction and business diversification, all risks posed by international business must be considered when choosing a discount rate. In addition to the risks inherent in cross-border business such as exchange rate risk, country risk, the risks caused by the pandemic crisis, which relate primarily to measures taken by states to protect the population by introducing quarantine, restricting the flow of people, goods and capital, as well as activities that are endangered by a pandemic, must be considered too. If all the risks that determine the discount rate are well assessed, the cash flow forecast will be more accurate.
ANALYSIS OF RESEARCH AND DEVELOPMENT EXPENDITURE IN EUROPEAN UNION COUNTRIES
ANALYSIS OF RESEARCH AND DEVELOPMENT EXPENDITURE IN EUROPEAN UNION COUNTRIES
(ANALYSIS OF RESEARCH AND DEVELOPMENT EXPENDITURE IN EUROPEAN UNION COUNTRIES)
- Author(s):Ľubica Hurbánková
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:137-142
- No. of Pages:6
- Keywords:Research and development expenditure; European union countries; Contribution method.
- Summary/Abstract:Paper deals with the analysis of research and development expenditure. Expenditure per capita in European Union countries in years 2009 - 2018 and total research and development expenditure in million Euro are analyzed. The aim of the paper is to find out in which countries expenditure per capita increased the most during the observed period and in which it decreased, what was the average annual growth rate of this indicator. Contribution method will help to analyze how the total research and development expenditure in 27 European Union countries has changed, what was the share of each country in this expenditure, which countries contributed the most to this change and which the least. Research and development expenditure per capita increased average annually between 2009 and 2018 in all analyzed countries, except Luxembourg and Finland, where it decreased. The highest average annual growth was recorded in Poland (12.48%), Latvia (10.50%), Slovakia (10.47%) and Bulgaria (10.38%). Total research and development expenditure increased in 2018 compared to 2009 by 41.65%, Germany (18.11%) and France (4.29%) contributed the most to this increase.
EUROPEAN UNION, ROMANIA AND RAILWAY TRANSPORT
EUROPEAN UNION, ROMANIA AND RAILWAY TRANSPORT
(EUROPEAN UNION, ROMANIA AND RAILWAY TRANSPORT)
- Author(s):Clara Elena Mut, Ciprian Beniamin Benea, Adrian Negrea, Secara-Onita Adina, Catarig Andra
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:143-150
- No. of Pages:8
- Keywords:Railway transport; Land transport; Sustainable future.
- Summary/Abstract:This paper aims to present the role railway transport plays in European Union and in Romania. The importance of this mode of transport is shortly put to the reader forefronts, while at the same time there is presented its share in land transport market. Road transport has its advantages, but its market share cannot be motivated only by market considerations; there are other factors which put this type of transport on a predominant position. The advantages of rail transport are presented face-to-face with road transport especially for passengers’ transport, how railway transport can gain a greater share in land transport market, and how it can contribute to create the conditions of a more sustainable future.
BASIC ELEMENTS OF THE FINANCIAL FUNCTION IN BUSINESS ENTITIES
BASIC ELEMENTS OF THE FINANCIAL FUNCTION IN BUSINESS ENTITIES
(BASIC ELEMENTS OF THE FINANCIAL FUNCTION IN BUSINESS ENTITIES)
- Author(s):Slobodan N. Bracanović
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:151-158
- No. of Pages:8
- Keywords:Finance; Accounting; Function; Market; Flow; Capital; Virtual.
- Summary/Abstract:Finance and accounting are the essences and the lifeblood of the business doing of business entities. Classical financial mechanisms and instruments are adapted to the contemporary conditions of profitable business doing. The real economy is the basis of the financial economy. Public finance is a special field. Virtual, parallel finance is manifested in contemporary business doing.
HUNGARIAN IFRS IMPLEMENTATION FROM TAX PERSPECTIVE
HUNGARIAN IFRS IMPLEMENTATION FROM TAX PERSPECTIVE
(HUNGARIAN IFRS IMPLEMENTATION FROM TAX PERSPECTIVE)
- Author(s):Gabor Feher, Éva Karai
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:159-167
- No. of Pages:9
- Keywords:IFRS; Corporate income taxation; Listed companies.
- Summary/Abstract:The influence of corporate income taxation on financial statements presented on a domestic accounting standards basis differ by countries in a wide range. Corporate income taxation in Hungary has a strong connection to the Hungarian Accounting Act. From 2016 it is prescribed or allowed for specific companies to present their financial statements on IFRS basis. The transition represented not only a challenge in the accounting system of the companies, but the state had to face new tasks because the taxation of IFRS companies had to meet the tax principle of horizontal equity and ensure the proper tax revenue. Research data arise from financial statements of Hungarian companies listed on the Budapest Stock Exchange. The average effective tax rate of Hungarian listed companies decreased after the transition. Temporary tax rules for IFRS companies were applied to reach the tax level of the companies that prepare their financial statements following the Hungarian Accounting Law. Authors compare the results with empirical findings of other European countries.
CLASSIFICATION OF FINANCIAL MECHANISMS OF HEALTHCARE SYSTEMS IN THE COUNTRIES OF EUROPEAN
CLASSIFICATION OF FINANCIAL MECHANISMS OF HEALTHCARE SYSTEMS IN THE COUNTRIES OF EUROPEAN
(CLASSIFICATION OF FINANCIAL MECHANISMS OF HEALTHCARE SYSTEMS IN THE COUNTRIES OF EUROPEAN)
- Author(s):Nadiya Dubrovina, Stanislav Filip, Vira Dubrovina
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:169-176
- No. of Pages:8
- Keywords:Healthcare system; Funding; Classification; Cluster analysis.
- Summary/Abstract:In the article the problems of the classification of financial mechanisms of healthcare systems were considered. The well-known types of the financial mechanisms of healthcare systems were described and the authors argued the importance of the development of new classification of financial mechanism of healthcare systems in the EU, which will be based on the application of quantitative methods. The purpose of the research is cluster (or regimes of funding healthcare system) analysis and development for EU countries over long-term period of 2000-2017.The authors used k-means method for the cluster analysis and revealed 5 clusters (groups) for the characteristics of the different regimes of funding healthcare system in the EU countries.
PREPARING SCHOOL GRADUATES FOR THE LABOUR MARKET
PREPARING SCHOOL GRADUATES FOR THE LABOUR MARKET
(PREPARING SCHOOL GRADUATES FOR THE LABOUR MARKET)
- Author(s):Mária NOVÁKOVÁ, Silvia Capíková
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:177-183
- No. of Pages:7
- Keywords:Labour market; School graduates; Skills.
- Summary/Abstract:Despite their determination to work and build their careers, school graduates are not sufficiently prepared to look for work and the opportunities to search a job. In most cases they are well prepared in theory and language and are literate in modern technologies. Their biggest handicap is the lack of practical skills and work experience. At the same time, graduates have to face the challenges of accelerated globalization and digitization. It is necessary to find answers to questions about what professional knowledge, practical skills, attitudes and values will be shaped by today's graduates and how education systems can develop the required knowledge and skills. The ambition of our contribution is to identify the main disparities that must be overcome in order to achieve the goal of the country's economic development strategy, in which the education system must inevitably correspond to the labour market requirements.
THE INFLUENCE OF KNOWLEDGE MANAGEMENT ON THE DEVELOPMENT OF INNOVATION IN THE ENTERPRISES IN THE REPUBLIC OF NORTH MACEDONIA-SELECTED RESULTS
THE INFLUENCE OF KNOWLEDGE MANAGEMENT ON THE DEVELOPMENT OF INNOVATION IN THE ENTERPRISES IN THE REPUBLIC OF NORTH MACEDONIA-SELECTED RESULTS
(THE INFLUENCE OF KNOWLEDGE MANAGEMENT ON THE DEVELOPMENT OF INNOVATION IN THE ENTERPRISES IN THE REPUBLIC OF NORTH MACEDONIA-SELECTED RESULTS)
- Author(s):Marija Pendevska
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:185-199
- No. of Pages:15
- Keywords:Knowledge management; New knowledge creation; Innovation; Open innovation; Closed innovation; Radical innovation; Incremental innovation.
- Summary/Abstract:Business community faces rapid change due to the technology development. Its influence on business environment causes change in the knowledge base and its possibilities on achieving new solution as innovation thus gaining new knowledge. Enterprises are managing these continuous changes using the knowledge of its unique set of enterprise’s knowledge infrastructure, employee’s knowledge skills and business environment. This implies that fast knowledge development from technology development and innovation makes high pressure on the enterprises and on its employees as well. The manner how this is used and utilized within enterprise becomes dominant challenge for every enterprise and its respective management globally. Many researches in the past years have shown that innovations as commercialisation of new knowledge development and knowledge management practices can assist facing those challenges remarkably. Creating the balance between them is unique for every enterprise, for every respective management. This research paper consists of the following parts: introduction, selected theoretical and empirical framework and conclusion. The theoretical framework gives selected overview of the relevant researches in the field of knowledge management and innovation and their respective interrelation in new knowledge creation and commercialising of this new knowledge as innovation. The empirical framework describes the research design and gives the selected results obtained through the research of selected enterprises based on Questionnaire that covers key parameters previously discussed in the theoretical framework. Research focus is measuring the existence, the exchange, the creation of knowledge within enterprises and its usage in terms of new product development and/or improved products of the respective enterprises. Finally, in the conclusion, the study results are elaborated and their contribution to the existing body of knowledge and industry practices is discussed.
OPERATION MANAGEMENT USING ITIL AND COBIT FRAMEWORK
OPERATION MANAGEMENT USING ITIL AND COBIT FRAMEWORK
(OPERATION MANAGEMENT USING ITIL AND COBIT FRAMEWORK)
- Author(s):Joaquina Marchao, Leonilde Reis, Paula Ventura
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:201-207
- No. of Pages:7
- Keywords:ITIL; COBIT; Service operation; Business process; ITSM.
- Summary/Abstract:Information and Communication Technologies management is now increasingly challenging in a highly digital and connected world, with different services emerging for different clients with heterogeneous infrastructures, software, assets, different service requirements, security risks increasing, organizational structures not flexible to adjust. These are some of the variables to manage in Information and Communication Technologies departments. This paper aims to present a literature review to support the design of an approach for service operation management in a medium-sized organization, to improve operational efficiency, cost optimization and stakeholder satisfaction, relevant topics in any organization strategy. The applied methodology includes a literature study related with the frameworks Control Objectives for Information and Related Technology (COBIT) and Information Technology Infrastructure Library (ITIL). The main results underlying the literature review were based on the use of keywords in the subject domain.
HOW DATA ANALYTICS HELPS MANAGEMENT IN GLOBAL PANDEMIC SITUATION
HOW DATA ANALYTICS HELPS MANAGEMENT IN GLOBAL PANDEMIC SITUATION
(HOW DATA ANALYTICS HELPS MANAGEMENT IN GLOBAL PANDEMIC SITUATION)
- Author(s):Dimitar Dimitrov, Radko Radev
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:209-217
- No. of Pages:9
- Keywords:Management; Corporate management; Data analysis.
- Summary/Abstract:The ongoing COVID-19 pandemic is having a tremendous impact on the business organizations, governments and people around the Globe. No matter if it is a public, or private organization, the leaders and management have changed their approaches, standard operations, the way they communicate, processes and procedures. In this paper is analyzed the impact of Data Analytics on two main management pillars and more specifically: Business Operations and Human Resources Management; more precisely, how they are impacted and changed in the pandemics. We analyzed how Global IT Companies are reacting and using analytics as a tool that helps them in the day to day operations, representing some used models and patterns.
PURCHASING BUSINESS IN THE CONDITIONS OF THE PANDEMIC CRISIS
PURCHASING BUSINESS IN THE CONDITIONS OF THE PANDEMIC CRISIS
(PURCHASING BUSINESS IN THE CONDITIONS OF THE PANDEMIC CRISIS)
- Author(s):Sandra Mrvica Mađarac, Zvonimir Filipović, Marko Eljuga
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:219-224
- No. of Pages:6
- Keywords:Purchasing business; Pandemic crisis; Supply; Organization; Company.
- Summary/Abstract:Procurement is a function of the company that cares of everything about that is necessary for the realization of the goals of the business system and in particular it is very important for the successful operation of a trade company. Procurement is a function of the company and other business structures whose task is to supply the equipment, materials, services, products and energy needed to achieve goals of the business system. By pursuing the economic order quantities, decisions on expenditures and selection of the best suppliers we contribute to the business success. On the global level, companies are facing the impact and consequences of the COVID 19 pandemic, which also affects companies purchasing processes. In the paper are presented and analysed changes in the organization and functions of the purchasing business activities of the two companies as a consequence of the pandemic crisis.
THE NECESSITY OF PSYCHOHYGIENE IN THE WORK OF TRADERS
THE NECESSITY OF PSYCHOHYGIENE IN THE WORK OF TRADERS
(THE NECESSITY OF PSYCHOHYGIENE IN THE WORK OF TRADERS)
- Author(s):Zuzana Birknerová, Dagmara Ratnayake Kaščakova
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:225-229
- No. of Pages:5
- Keywords:Attributes; Psychohygiene; Traders.
- Summary/Abstract:The rapid economic growth of many companies brings with it the need to pay more attention to issues of management and leadership of people in the conditions of a centralized model of economic management, as well as mental readiness for work and social position in business. Mental balance is one of the most important mental equipment of traders in personal and professional life. Therefore, in the article we assess the necessity of psychohygiene in the work of traders. Its role is to support and create favorable psychological conditions. The aim of the research is to determine the existence of statistically significant differences in the assessment of the attributes of psychohygiene between customers and traders. The research sample, out of the total number of 177 respondents, consists of 125 (70.6%) women and 52 (29.4%) men aged 18 - 70 years, while the average age is 41.08 years, the standard deviation is 7.913 years. Of the total number of respondents, 97 (54.8%) were traders and 80 (45.2%) were customers. The length of the respondents' internship ranged from 1 to 40 years (average 17.25 years, standard deviation 8.679 years). The research results were processed in statistical program IBM SPSS Statistics 22.00 and assessed by t- test for two independent samples. The authors focused on mental health care, proper lifestyle, stressors, work environment and time management.
SOCIAL NETWORKS, COGNITIVE BIASES AND FAKE NEWS: CAN A SIMPLE COMPUTER MODEL EXPLAIN A COMPLEX PHENOMENON?
SOCIAL NETWORKS, COGNITIVE BIASES AND FAKE NEWS: CAN A SIMPLE COMPUTER MODEL EXPLAIN A COMPLEX PHENOMENON?
(SOCIAL NETWORKS, COGNITIVE BIASES AND FAKE NEWS: CAN A SIMPLE COMPUTER MODEL EXPLAIN A COMPLEX PHENOMENON?)
- Author(s):Blaž Rodič
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:231-238
- No. of Pages:8
- Keywords:Fake news; Disinformation; Cognitive bias; Emergent phenomena; Social networks; Agent-based modelling; Social psychology.
- Summary/Abstract:Misinformation spread by individuals sharing fake news can cause problems in social, economic and democratic systems. The World Economic Forum considers the viral spread of misinformation online to be one of the main threats to our society. While the reasons why people spread misinformation likely haven't changed in the last millennia, the rise of Internet powered social networks has allowed news to spread rapidly among millions of users, and gave rise to new phenomena such as echo chambers. The question we ask in this paper is whether we can model the dissemination of fake news and the emerging phenomena using relatively simple rules in an agent-based model. We present the current state of research in the field of fake news, the agent-based modelling methodology, and the current state of our model development.
CHALLENGES IN MANAGING INTELLECTUAL PROPERTY RIGHTS DURING CORONAVIRUS PANDEMIC
CHALLENGES IN MANAGING INTELLECTUAL PROPERTY RIGHTS DURING CORONAVIRUS PANDEMIC
(CHALLENGES IN MANAGING INTELLECTUAL PROPERTY RIGHTS DURING CORONAVIRUS PANDEMIC)
- Author(s):Mario V. Lukinović, Larisa Jovanović, Vladimir Šašo
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:239-249
- No. of Pages:11
- Keywords:COVID-19; Innovation; Intellectual property; Patents; Coronavirus pandemic; Generics; Drugs; Vaccines; Cybersecurity.
- Summary/Abstract:The socio-economic impact of the pandemic on all social spheres is huge, but like any crisis, for some it is an opportunity to create, develop and promote solutions. The coronavirus pandemic has brought many changes. It has forced us all to find new ways of working, interacting and living. The field of intellectual property is particularly affected by the coronavirus pandemic, its strong influence has affected all branches of intellectual property, especially the field of copyright and patents. During the COVID-19 Pandemic, numerous anomalies in the consumption of copyrights were observed, which coincided with the isolation measures, from drastically increased consumption of illegal pirated content via the Internet, especially in countries with lockdown, through a sharp increase of Disney+ and Netflix streaming platform users. The identification of products that have the word Corona in their name – in their trademark, with the virus has led to a sharp drop in consumption of some products, but also to increased sales of others. The pharmaceutical industry has invested huge funds in the fight against this global challenge, especially in the field of treatment of viruses, new drugs for the prevention, as well as finding a vaccine against COVID-19. This paper discusses the challenges faced by the management of intellectual property rights and potential response measures.
KEYWORD ANALYSIS WITH USING STATISTICAL METHODS
KEYWORD ANALYSIS WITH USING STATISTICAL METHODS
(KEYWORD ANALYSIS WITH USING STATISTICAL METHODS)
- Author(s):Dominika Krasnaska, Maria Vojtkova
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:251-255
- No. of Pages:5
- Keywords:Keywords; Keyword categories; Statistical methods.
- Summary/Abstract:There are currently more than a billion websites worldwide. In so many websites, everyone wants to be visible to search engines through the keywords that people search for. The article deals with the process of creating keywords, through which we can identify the intention of the searcher. The process of creating keywords consists of several steps, namely the collection of keywords, subsequent cleaning of keywords, their categorization and the last step is the interpretation of keywords. The paper focuses mainly on the categorization of keywords, which we obtain through the use of statistical methods, which includes a method of visualizing relationships between keywords by determining the strength of the association between words called concept linking or term map.
GREENHOUSE GAS EMISSIONS PRODUCED IN AGRICULTURE SECTOR IN EU
GREENHOUSE GAS EMISSIONS PRODUCED IN AGRICULTURE SECTOR IN EU
(GREENHOUSE GAS EMISSIONS PRODUCED IN AGRICULTURE SECTOR IN EU)
- Author(s):Mariana Dubravska, Elena Šira
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:257-265
- No. of Pages:9
- Keywords:EU; Greenhouse gas emissions; Agriculture; Europe 2020.
- Summary/Abstract:Each economy must adapt its activities to the protection of the environment. It is now an essential part of everyday life, in the face of various climate changes. The Europe 2020 strategy sets out a set of objectives in the EU, including those promoting environmental sustainability, called sustainable growth. The aim of the paper is to determine, if the performance of the country, in the area of greenhouse gas emissions reduction is adequate to the strategy Europe 2020. In the analysis of greenhouse gas emission reductions, we will also focus on the agriculture sector and compare the development over time with the development in other EU countries. The analyzed period is 10 years, from 2009 - 2018. The article investigated the performance of greenhouse gas emissions in the example of EU (including the Great Britain) countries.
HOUSEHOLD/INDIVIDUALS IN THE PROCESS OF PRODUCTION AND DELIVERY OF ELECTRICITY FROM RENEWABLE ENERGY SOURCES – PHOTOVOLTAIC SYSTEMS
HOUSEHOLD/INDIVIDUALS IN THE PROCESS OF PRODUCTION AND DELIVERY OF ELECTRICITY FROM RENEWABLE ENERGY SOURCES – PHOTOVOLTAIC SYSTEMS
(HOUSEHOLD/INDIVIDUALS IN THE PROCESS OF PRODUCTION AND DELIVERY OF ELECTRICITY FROM RENEWABLE ENERGY SOURCES – PHOTOVOLTAIC SYSTEMS)
- Author(s):Serjoza Markov
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:267-275
- No. of Pages:9
- Keywords:Electricity; Solar energy; Republic of North Macedonia.
- Summary/Abstract:First and foremost, the main inspiration for the specific problematics in this paper is solar energy as clean and profitable energy for businesses in the Republic of North Macedonia. The question that arises as the basis is finding the reason why the progress in the sector of renewable energy sources in this country is still slow and insufficient. The results and conclusions of the research shall be achieved via comprehensive analysis, and by finding the answer to the posed question through the: theoretical analysis, the inductive and deductive methods, as well as description shall be used, whereas the techniques utilized shall be questionnaires, interviews, observations. By summarizing in one place all the theoretical and empirical aspects, we are finding the answer to the main question asked: One of the possible reasons for this actual situation is the fact that so far there is no possibility in this country for individuals to be involved in the process of production and transmission of electricity in the energy system. The goal is achieved in this paper through providing specific guidelines and suggestions regarding the improvement of the legal framework in the Republic of North Macedonia, emphasizing on benefits if the households are allowed to deliver their produced solar energy and considering the possible ways to remove the determined obstacles for implementing this idea.
LEVELS OF SOME PRIORITY SUBSTANCES ON ADRIATIC SEA, ALBANIA
LEVELS OF SOME PRIORITY SUBSTANCES ON ADRIATIC SEA, ALBANIA
(LEVELS OF SOME PRIORITY SUBSTANCES ON ADRIATIC SEA, ALBANIA)
- Author(s):Aurel Nuro, Bledar Murtaj
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:277-286
- No. of Pages:10
- Keywords:Organochlorine pesticides; PCBs; PAH; Water analyzes; GC/ECD.
- Summary/Abstract:This study evaluated levels for organochlorine pesticides (DDTs, HCHs, Heptachlors, Aldrins and Endosulfanes), their residues, polychlorinated biphenyls (PCB) and poly aromatic hydrocarbons (PAH) in water samples of Adriatic Sea, Albanian part. Water stations were chosen near the main river estuaries of Albania (Vjosa, Semani, Shkumbini, Erzeni, Mati and Buna rivers). These rivers have catchment areas that cover almost all Albania. First, agricultural, industrial and urban waste is transported in these rivers and after that they finished in Adriatic Sea. Water samples were analyzed for a five-year period from February 2015 to December 2019. Liquid-liquid extraction was used to isolate chlorinated pollutants and a florisil column was used for clean-up procedure. Analysis of organochlorine pesticides (according to Method EPA 8081B) and 7 PCB markers was realized using GC/ECD and RTX-5 capillary column. The PAHs were isolated by liquid-liquid extraction technique and after sample concentration qualitative and quantitative analyses were performed by the GC/FID technique. Organochlorine pollutants were detected for all stations of Adriatic Sea because of new arrivals by agricultural and industrial activity in river basins. The highest levels were found near Shkumbini and Semani estuaries due to impact Myzeqeja agricultural area. New arrivals from water irrigation and rainfall influence in found levels. Degradation products of pesticides and volatile PCBs were found at higher levels for all samples analyzed. The levels of some individual organochlorine pesticides were higher than EU and Albanian norms for Semani and Shkumbini rivers. Also, PAHs were found at higher levels for Semani River because of extracting-processing industry in Patos-Marinza area. Monitoring of organic pollutants in water of Adriatic Sea should be continuous because of its importance in fishing, tourism, recreation and Albania economy overall.
HEAVY METAL ACCUMULATION AND CHEMICAL COMPOSITION OF ESSENTIAL OILS OF LEMON BALM (MELISSA OFFICINALIS L.) CULTIVATED ON HEAVY METAL CONTAMINATED SOILS
HEAVY METAL ACCUMULATION AND CHEMICAL COMPOSITION OF ESSENTIAL OILS OF LEMON BALM (MELISSA OFFICINALIS L.) CULTIVATED ON HEAVY METAL CONTAMINATED SOILS
(HEAVY METAL ACCUMULATION AND CHEMICAL COMPOSITION OF ESSENTIAL OILS OF LEMON BALM (MELISSA OFFICINALIS L.) CULTIVATED ON HEAVY METAL CONTAMINATED SOILS)
- Author(s):Violina Angelova
- Language:English
- Subject(s):Social Sciences, Economy
- Page Range:287-298
- No. of Pages:12
- Keywords:Contaminated soils; Essential oil composition; Heavy metals; Lemon balm.
- Summary/Abstract:Comparative research has been conducted to allow us to determine the content of heavy metals and chemical composition of lemon balm oils, as well as to identify the possibility of lemon balm growth on soils contaminated by heavy metals. The experimental plots were situated at different distances of 0.5 km, and 15 km, respectively, from the source of pollution the Non-Ferrous-Metal Works (MFMW) near Plovdiv, Bulgaria. On reaching the flowering stage the lemon balm plants were gathered. The content of heavy metals in leaves of lemon balm was determined by ICP. The essential oils of the lemon balm were obtained by steam distillation in laboratory conditions which were analyzed for heavy metals and chemical composition was determined. Lemon balm is a plant that is tolerant to heavy metals and can be grown on contaminated soils. Heavy metals do not affect the development of lemon balm and the quality and quantity of oil obtained from it. Forty components were identified in the oils. The quantity of identified compounds corresponds to 98.82-98.83% of the total oil content. Among the detected compounds, beta-citral (neral) (19.31-20.78%), alfa-citral (geranial) (18,65-19,12%), β-caryophyllene (14.76-16.28%), α-cadinol (3.88-4.74%), geranyl acetate (3.49-3.59%), trans-geraniol (3.40-3.51%), germacrene (3.18-3.28%), citronellal (2.94-3.03%), nerol (2.63-2.71%), neryl acetate (2.42 -2.49%) were the major compounds. The essential oil of Melissa officinalis L. can be a valuable product for farmers from polluted regions.
