Akcionarstvo
Shareholding
Publishing House: Centar za ekonomska i finansijska istraživanja
Subject(s): Economy, Business Economy / Management, Financial Markets
Frequency: 1 issues
Print ISSN: 0354-6403
Online-ISSN: 2683-5630
Status: Active
- 2018
- 2019
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- 2021
- 2022
- 2023
- 2024
- Issue No. 1/24
- Issue No. 1/25
- Issue No. 1/26
- Issue No. 1/27
- Issue No. 1/28
- Issue No. 1/29
- Issue No. 1/30
Articles list
ODNOS INFLACIJE I INFLACIONE NEIZVESTNOSTI: SLUČAJ ZEMALJA KANDIDATA ZA ULAZAK U EU
ODNOS INFLACIJE I INFLACIONE NEIZVESTNOSTI: SLUČAJ ZEMALJA KANDIDATA ZA ULAZAK U EU
(THE RELATIONSHIP BETWEEN INFLATION AND INFLATION UNCERTAINTY: EMPIRICAL EVIDENCE FOR THE CANDIDATE EU COUNTRIES)
- Publication: (1/30/2024)
- Author(s): Siniša Miletić, Mirjana Stevanović
- Contributor(s):
- Language: Serbian
- Subject(s): Politics / Political Sciences, Politics, Economy, National Economy, Supranational / Global Economy, EU-Approach / EU-Accession / EU-Development, Socio-Economic Research
- Issue: 1/30/2024
- Page Range: 9-26
- No. of Pages: 18
- Keywords: inflation; inflation uncertainty; GARCH models; Granger test of causality; Friedman-Ball hypothesis; Cukierman-Meltzer hypothesis
- Summary/Abstract: The aim of this study is to analyze the relationship between inflation and inflation uncertainty for the EU candidate countries: Serbia, Montenegro, North Macedonia, Albania and Turkey. Using the GARCH model, inflation uncertainty was assessed for each of the observed countries, with the EGARH model proving to be the best model for all countries. The results of the Granger causality test between inflation and inflation uncertainty showed that inflation affects the growth of inflation uncertainty in the case of Serbia, North Macedonia and Turkey and that the growth of inflation leads to the growth of uncertainty, thus confirming the Friedman-Ball hypothesis. On the other hand, the results showed that inflation uncertainty affects the growth of inflation and that the growth of inflation uncertainty affects the growth of inflation in the case of Serbia, Albania and Montenegro, which is in accordance with Cukierman and Meltzer's hypothesis.
PRIHVATANJE ONLINE KUPOVINE MEĐU POTROŠAČIMA U REPUBLICI SRBIJI
PRIHVATANJE ONLINE KUPOVINE MEĐU POTROŠAČIMA U REPUBLICI SRBIJI
(ACCEPTANCE OF ONLINE SHOPPING AMONG CONSUMERS IN THE REPUBLIC OF SERBIA)
- Publication: (1/30/2024)
- Author(s): Sara Kostić, Nedeljko Prdić
- Contributor(s):
- Language: English, Serbian
- Subject(s): Economy
- Issue: 1/30/2024
- Page Range: 27-53
- No. of Pages: 27
- Keywords: e-commerce; information technology; consumers; digitalization; purchase intention
- Summary/Abstract: The internet has become one of the most efficient and commonsources of information and shopping. Digital technologies and thedevelopment of the internet have led to widespread use of internetservices by individuals. This form of shopping, which allows for thesatisfaction of human needs, is closely connected to the acceptance ofthe internet and information technologies by consumers. Theresearch was conducted in February 2023 in the territory of theRepublic of Serbia, involving 303 participants. For data analysisrelated to security, personal innovativeness, perceived ease of use,attitudes towards online shopping, and intentions to engage in onlineshopping, the statistical software SmartPLS 3.0 was used. The testingof the model followed recommendations from multiple authors. Sevenout of the ten hypotheses were confirmed, indicating positiveacceptance of online shopping among Serbian consumers. The ecommercemarket in Serbia is expected to experience significantgrowth, and understanding consumer behaviour is crucial forimproving online shopping trends.
MENADŽMENT VOLJNOG I NEVOLJNOG NAPUŠTANJA ORGANIZACIJE KAO OBLICI FLUKTUACIJE RADNE SNAGE
MENADŽMENT VOLJNOG I NEVOLJNOG NAPUŠTANJA ORGANIZACIJE KAO OBLICI FLUKTUACIJE RADNE SNAGE
(WILLING AND WILLINGLY LEAVING THE ORGANIZATION AS FORMS OF LABOR FLUCTUATION)
- Publication: (1/30/2024)
- Author(s): Đurđijana Ilic Koderman, Snežana Krstić, Đorđe Dabetić, Nikola Vujanović, Ranko Marijanović
- Contributor(s):
- Language: Serbian
- Subject(s): Social Sciences, Economy, Psychology, Business Economy / Management, Organizational Psychology, Human Resources in Economy
- Issue: 1/30/2024
- Page Range: 55-76
- No. of Pages: 22
- Keywords: workforce; turnover; leaving the organization
- Summary/Abstract: The organization is like a living being - it is necessary to build, feed and nurture it, respond to its needs and recognize the different phases in which it is. It all means that it is a dynamic system that is constantly changing. One part of these changes refers to the arrival, but also the departure of people from the organization. However, the term "fluctuation" refers to a special type of departure. A certain rate of fluctuation is expected, due to factors such as retirement or career advancement. However, when employees leave the organization because they are dissatisfied, unmotivated or under stress, it means that something is wrong with the organization. In addition, fluctuation costs a lot - not only when it is necessary to find a new employee, but also to introduce him to the job and make him a member of the team, and all that takes time and is therefore a big expense. It is of immeasurable importance to know, monitor and understand the possible forms of labor force fluctuations in order to be able to manage them, which is the focus of the topic of this paper.
IMPACT OF THE IMPLEMENTATION OF THE FATF RECOMMENDATIONS ON THE FINANCIAL PERFORMANCE OF THE GAMBLING SECTOR
IMPACT OF THE IMPLEMENTATION OF THE FATF RECOMMENDATIONS ON THE FINANCIAL PERFORMANCE OF THE GAMBLING SECTOR
(IMPACT OF THE IMPLEMENTATION OF THE
FATF RECOMMENDATIONS ON THE
FINANCIAL PERFORMANCE OF THE
GAMBLING SECTORIMPACT OF THE IMPLEMENTATION OF THE FATF RECOMMENDATIONS ON THE FINANCIAL PERFORMANCE OF THE GAMBLING SECTOR)
- Publication: (1/30/2024)
- Author(s): zeljko radovanovic, nenad mihailovic, ljiljana rajnovic
- Contributor(s):
- Language: English
- Subject(s): Politics / Political Sciences, Economy, Law, Constitution, Jurisprudence, Law on Economics, Business Ethics, Corruption - Transparency - Anti-Corruption
- Issue: 1/30/2024
- Page Range: 77-94
- No. of Pages: 18
- Keywords: Financial Action Task Force (FATF); money laundering; terrorism financing; profit rate; total revenue; return on equity
- Summary/Abstract: Implementation of the methodological framework of the Financial Action Task Force (FATF) is an international obligation of every country. One of the main objections to the FATF mechanism is that it ignores the costs of implementing the measures themselves. The largest number of scientific papers addressing the matter have pointed to the rise in operating expenses caused by the implementation of the recommendations, primarily by the operation of the AML function which is directly responsible for the implementation of standards at the individual obliged entity level. The aim of the paper is to analyse the impact of the implementation of the FATF recommendations and the expected standards on the financial performance of the sector participants, using the example of the gambling sector in the Republic of Serbia. The paper will assess the statistical significance of differences in the key business parameters but, unlike the majority of papers that exclusively focus on the impact of the FATF standards on the obliged entities’ operating costs, this study will analyse the effects on the entire business using composite indicators. Furthermore, in order to examine the impact of the implementation of the standards on the competitive position of the obliged entities in relation to neighbouring countries, the paper will test the statistical significance of the differences between these indicators in Serbia and the indicators of the same sector in Croatia and Slovenia.
ANALIZA ULOGE SOPSTEVNIH PRIHODA U FINANSIRANJU RASHODA
ANALIZA ULOGE SOPSTEVNIH PRIHODA U FINANSIRANJU RASHODA
(AN ANALYSIS OF THE ROLE OF INCOME IN FINANCING OF EXPENDITURES)
- Publication: (1/30/2024)
- Author(s): aleksandar nesevski, Radica Bojičić
- Contributor(s):
- Language: Serbian
- Subject(s): Economy, Business Economy / Management
- Issue: 1/30/2024
- Page Range: 95-111
- No. of Pages: 17
- Keywords: Expenditures; own revenues; budget
- Summary/Abstract: This work is the result of research, which has beenThe subject had an analysis of the financing of defense expenditures, especiallyFunding for the University of Defense in Belgrade. SpecialAn analysis of the University's own revenues, I can also be granted the status of a special body of the statemanagement of this institution. The purpose of the research is to showIs there and, if so, to what extent?Ministry of Defense, Military Expenditures and Financial Enhancementthe University of Virginia in order to promoteits financial operations and accelerated the approval and execution phasesapproved by the U.S. Treasury. The initial motive for the creation of the work isI've been able to compensate for the lack of workbudget funds, through the use of its own revenues to cover theA number of operational expenditures, as well as changes in thehours of this area.
MARKETING ASPEKTI SAVREMENOG POSLOVANJA
MARKETING ASPEKTI SAVREMENOG POSLOVANJA
(MARKETING ASPECTS OF MODERN BUSINESS)
- Publication: (1/30/2024)
- Author(s): Bojana Čavić, Milica Popović, Miloš Stanković, Aleksandar Rajkovic, Jelena Avakumović, nada božić
- Contributor(s):
- Language: Serbian
- Subject(s): Economy, Business Economy / Management, Marketing / Advertising
- Issue: 1/30/2024
- Page Range: 113-136
- No. of Pages: 24
- Keywords: marketing; company; market conditions
- Summary/Abstract: The modern marketing concept is based on the development of new marketing areas that enable a better understanding and adaptation of strategic and management processes to the specifics of business organizations and real market conditions. This means that the successful application of marketing principles requires their transformation into practical activities that meet the specific needs of the market. One of the important indicators of the evolution of marketing is its increasingly widespread application in various market segments, which has resulted in the development of new marketing disciplines. Examples of these disciplines include the following: international marketing, services marketing, tourism, trade marketing, financial institution marketing and e-marketing. International marketing focuses on doing business in global markets and adapting to different cultural, economic and legal frameworks. Services marketing is specific to intangible products and often includes a greater emphasis on consumer satisfaction and service quality. Tourism marketing deals with the promotion of tourist destinations and services, taking into account seasonality and the specifics of tourist needs. Trade marketing refers to activities related to the sale of products in retail and wholesale. Financial institution marketing was developed to promote banking, insurance and other financial services. Electronic marketing (e-marketing) uses digital platforms and technologies to communicate with target groups and sell products or services. All of these disciplines enable companies to better position themselves in the market, respond to the specific needs of their consumers, and improve business results.
ПОБОЉШАЊА У ЖИВОТНОМ ВЕКУ МРЕЖЕ ЗА СОЛАРНЕ ЧВОРОВЕ У БЕЖИЧНОЈ МРЕЖИ СЕНЗОРСКЕ МРЕЖЕ
ПОБОЉШАЊА У ЖИВОТНОМ ВЕКУ МРЕЖЕ ЗА СОЛАРНЕ ЧВОРОВЕ У БЕЖИЧНОЈ МРЕЖИ СЕНЗОРСКЕ МРЕЖЕ
(IMPROVEMENTS IN NETWORK LIFETIME FOR SOLAR-POWERED NODES IN WIRELESS SENSOR NETWORKS)
- Publication: (1/30/2024)
- Author(s): milan malešević, Nemanja Deretić, nikola samardžić, Miloš Popović
- Contributor(s):
- Language: Serbian
- Subject(s): Economy, Library and Information Science, Energy and Environmental Studies, ICT Information and Communications Technologies, Green Transformation
- Issue: 1/30/2024
- Page Range: 137-163
- No. of Pages: 27
- Keywords: Wireless sensor nodes; Li-ion battery; Solar powered; Network lifetime; Charging; Battery management
- Summary/Abstract: Wireless sensor networks with specific hardware configuration and possibilities for their network lifetime improvement are examined in this paper. Nodes in the network are equipped with solar cells. Storing solar energy in batteries is a very cost-effective and longlasting solution for sensor nodes that are difficult to reach for regular maintenance. Solar power provides more power for more frequent data acquisition and greater communication distance. The downside of this approach is battery lifetime, not a single charge lifetime but the total overall number of times battery can be recharged before it fails. Here we propose a design of the whole sensor node configuration and, most importantly, hardware and software improvements of sensor nodes for increasing battery life and thus network lifetime. A survey of relevant literature is provided, as wellas the analysis of experimental data from referenced authors. Some experiments have been done to discuss the testing methods of other researchers. Good results in improving network lifetime for most used battery types were obtained by this research. Network lifetime of wireless sensor networks can be doubled or even tripled by modifying battery charging strategies, which would enable up to ten years of maintenance-free operation of sensor nodes. Partial charging strategies present a significant improvement in increasing Li-ion battery cycle-count expectancy and can also increase calendar-life expectancy because of batteries not being kept at elevated states of charge.
УЛОГА РАЧУНОВОДСТВЕНОГ ИНФОРМАЦИОНОГ СИСТЕМА У МОДЕРНОМ ПОСЛОВАЊУ
УЛОГА РАЧУНОВОДСТВЕНОГ ИНФОРМАЦИОНОГ СИСТЕМА У МОДЕРНОМ ПОСЛОВАЊУ
(THE ROLE OF THE ACCOUNTING INFORMATION SYSTEM IN MODERN BUSINESS)
- Publication: (1/30/2024)
- Author(s): slobodan nićin, Jana Cvijic Rodic, Snežana Lazić
- Contributor(s):
- Language: Serbian
- Subject(s): Economy, Accounting - Business Administration, ICT Information and Communications Technologies
- Issue: 1/30/2024
- Page Range: 165-175
- No. of Pages: 11
- Keywords: accounting information system; company; business
- Summary/Abstract: The state as a complete system consists of a multitude of subsystems that are interconnected. In order for the state as a system to function successfully, all its subsystems should be based on certain principles. The functioning of the state's subsystems is normatively regulated in order to ensure the interconnection of subsystems and to control their functioning. The results of the functioning of subsystems must be qualitatively and quantitatively determined and comparable. By normatively regulating most aspects of the functioning of each subsystem individually, their interconnection and cohesion are achieved. The connections and relationships of all these systems are two-way. The uniformity of financial accounting achieves data comparability and enables business cooperation.
INOVATIVNI MODELI I NOVE TEHNOLOGIJE U FUNKCIJI RAZVOJA I KOOPERACIJE PREDUZEĆA I OBRAZOVANJA
INOVATIVNI MODELI I NOVE TEHNOLOGIJE U FUNKCIJI RAZVOJA I KOOPERACIJE PREDUZEĆA I OBRAZOVANJA
(INNOVATIVE MODELS AND NEW TECHNOLOGIES IN THE FUNCTION OF DEVELOPMENT AND COOPERATION OF ENTERPRISES AND EDUCATION)
- Publication: (1/30/2024)
- Author(s): Dragana Trifunović, Goran Lalić, Stevica Deđanski, Milica Nestorović, Vuk Bevanda
- Contributor(s):
- Language: Serbian
- Subject(s): Social Sciences, Economy, Education, ICT Information and Communications Technologies
- Issue: 1/30/2024
- Page Range: 177-196
- No. of Pages: 20
- Keywords: new technologies; innovative model; education; higher education institutions; cooperation; investment in employees
- Summary/Abstract: New technologies, digitization and educational methods are leading to new innovative models based on increasing cooperation between companies and education. Changes in the education system have led to the improvement of the quality of education, the introduction of dual education, lifelong learning, short study programs, new methods and models based on connecting education and businesses, all with the aim of adapting the education system to the needs of the economy.The results of the research presented in this paper will show the degree and manner of connection between companies and educational institutions, with special reference to higher education institutions. The period of the last ten years, from 2014 to 2024, was observed in order to see in which direction the cooperation is going, as well as predictions for the next period. It was shown who are the initiators of cooperation, that companies increasingly support dual education and accept students for internships. In addition, it is shown how much new technologies and education models help employees to further educate and improve, how much companies invest in their employees and how much that trend has changed in the last few years.
ANALIZA UTICAJA MIKROEKONOMSKIH POKAZATELJA NA NIVO DUGA KOMPANIJA: PRIMER KOMPANIJA LISTIRANIH NA BEOGRADSKOJ BERZI
ANALIZA UTICAJA MIKROEKONOMSKIH POKAZATELJA NA NIVO DUGA KOMPANIJA: PRIMER KOMPANIJA LISTIRANIH NA
BEOGRADSKOJ BERZI
(ANALYSIS OF THE INFLUENCE OF MICROECONOMIC INDICATORS ON THE LEVEL OF COMPANY DEBT: AN EXAMPLE OF COMPANIES LISTED ON THE BELGRADE STOCK EXCHANGE)
- Publication: (1/30/2024)
- Author(s): Miloš Đaković, Branimir Kalaš, Milica Inđić
- Contributor(s):
- Language: Serbian
- Subject(s): Economy, Business Economy / Management, Micro-Economics
- Issue: 1/30/2024
- Page Range: 197-216
- No. of Pages: 20
- Keywords: Indebtness; Long-term debt; Short-term debt; Pecking order theory
- Summary/Abstract: The aim of the study is to investigate the impact of certain microeconomic indicators on the level of indebtedness of companies listed on the Belgrade Stock Exchange. The sample contains 25 listed companies and the study covers the period from 2007 to 2022. The study defines three models, where the first includes the analysis of the effect of selected independent indicators on the level of total debt, while the second and third models include the effect of independent indicators on the level of short-term and long-term debt. Also, the study was conducted in order to check the applicability of the "Pecking order" theory on the example of the Republic of Serbia. Previous studies in this area have suggested a significant effect of microeconomic indicators on debt levels as well as the application of the "Pecking order" theory. Most of the studies were conducted on the example of developed markets, so this study, through the example of the Serbian market, provides an insight into the state of the market of a developing country. The results indicated a statistically significant and negative effect of liquidity, profitability and tangibility of assets, while company size showed a positive effect. Liquidity, profitability and tangibility of assets showed a negative and statically significant effect in the case of short-term debt, while the age and size of companies showed a positive effect. In the case of long-term indebtedness, receivables turnover and company size showed a statistically significant and positive effect. Empirical findings also confirm the applicability of the "Pecking order" theory.
ЗАДОВОЉСТВО ПОСЛОМ ИЗ ПЕРСПЕКТИВЕ РЕСУРСА ТЕОРИЈА ОЧУВАЊА: УЛОГА ЕМОЦИОНАЛНИХ ЛИДЕРА ИНТЕЛИГЕНЦИЈУ
ЗАДОВОЉСТВО ПОСЛОМ ИЗ ПЕРСПЕКТИВЕ РЕСУРСА ТЕОРИЈА ОЧУВАЊА: УЛОГА ЕМОЦИОНАЛНИХ ЛИДЕРА ИНТЕЛИГЕНЦИЈУ
(JOB SATISFACTION FROM THE PERSPECTIVE OF RESOURCE CONSERVATION THEORY: THE ROLE OF LEADERS' EMOTIONAL INTELLIGENCE)
- Publication: (1/30/2024)
- Author(s): Nenad Mihajlov, Snežana Mihajlov, Miloš Dašić
- Contributor(s):
- Language: Serbian
- Subject(s): Social Sciences, Economy, Psychology, Organizational Psychology, Human Resources in Economy
- Issue: 1/30/2024
- Page Range: 217-255
- No. of Pages: 39
- Keywords: emotional intelligence; transformational leadership; resource conservation theory; job satisfaction
- Summary/Abstract: Job satisfaction is a key factor in the success of organizations, and transformational leadership is considered one of the most effective ways to achieve it. However, there is a lack of research that focuses on the role of emotional intelligence of leaders in this process. This study examines the hypothesis that leader EI mediates the relationship between individualized approach, as one of the dimensions of transformational leadership, and job satisfaction. Conservation of resources theory serves as a theoretical framework for understanding this relationship, with an emphasis on emotional support as a key resource that leaders provide to their employees. The data was collected from 275 employees in the insurance sector in Serbia through an online survey. Employees' perceptions of transformational leadership, emotional intelligence of their leaders and job satisfaction were measured. SmartPLS 4 was used for data analysis and structural modeling analysis was applied to assess mediation. Other dimensions of transformational leadership were not directly related to job satisfaction. In addition, a leader's emotional intelligence had a direct positive impact on job satisfaction. This research contributes to the existing literature by highlighting the importance of leaders' emotional intelligence for job satisfaction; identifies emotional support as a key mechanism linking transformational leadership and job satisfaction; and provides empirical evidence on the role of context (teamwork) in the relationship between leadership and job satisfaction. The results have practical implications for organizations, highlighting the importance of investing in the development of emotional intelligence in leaders
TECHNOLOGICAL PROGRESS AND DIGITIZATION IN THE FUNCTION OF THE DEVELOPMENT OF E-EDUCATION IN SERBIA
TECHNOLOGICAL PROGRESS AND DIGITIZATION IN THE FUNCTION OF THE DEVELOPMENT OF E-EDUCATION IN SERBIA
(TECHNOLOGICAL PROGRESS AND DIGITIZATION IN THE FUNCTION OF THE DEVELOPMENT OF E-EDUCATION IN SERBIA)
- Publication: (1/30/2024)
- Author(s): Boban Dašić, Nikola Pavlović, Marko Savić
- Contributor(s):
- Language: English
- Subject(s): Social Sciences, Economy, Education, ICT Information and Communications Technologies, Distance learning / e-learning
- Issue: 1/30/2024
- Page Range: 257-279
- No. of Pages: 23
- Keywords: technological progress; digitization; development; efficiency and effectiveness; e-education; education system
- Summary/Abstract: The main task of this paper is to investigate the impact of technological progress and digitization in the function of the development of e-education in Serbia. Contemporary world trends have confirmed that with the application of technological progress and digitization, education becomes more efficient and effective. The goal of this study is to show that increasing the efficiency and effectiveness of education can be achieved with the help of digital transformation accompanied by the latest achievements in electronic learning with the improvement of teaching methods and tools. This is because nowadays it is impossible to create a quality education system without including technology and digitization in it. The analysis of the development of e-education through technological progress and digitization was done on the basis of data from theMinistry of Education and the National Entity for Accreditation and Quality Assurance in Higher Education. The mentioned research refers to all Universities, Faculties, Academies of applied studies and Colleges in the Republic of Serbia. Modernization of education is impossible without the introduction of digital technologies in the educational process. The results of the work point out to the great importance, positive impact and overall contribution of technological progress and digitization to the development of e-education in Serbia, which tends to change it from the roots.
EKONOMSKA ANALIZA UZROKA KRIZA HIPERPRODUKCIJE
EKONOMSKA ANALIZA UZROKA KRIZA HIPERPRODUKCIJE
(ECONOMIC ANALYSIS OF THE CAUSES OF THE HYPERPRODUCTION CRISIS)
- Publication: (1/30/2024)
- Author(s): Miodrag Paspalj, Saša Stevanović
- Contributor(s):
- Language: Serbian
- Subject(s): Politics / Political Sciences, Economy, Socio-Economic Research
- Issue: 1/30/2024
- Page Range: 280-299
- No. of Pages: 20
- Keywords: crisis; economic system; reproduction
- Summary/Abstract: Financial markets and institutions have been going through a radical transformation and expansion during the last few decades, which was caused by the general trend of deregulation, globalization, liberalization, as well as progress in computer technologies. Markets are developing new, sophisticatedinstruments, international capital flows are intensifying, and the speed of transactions has increased drastically. The development of the financial sector became much faster than the development of the real sector, which led to a better allocation of capital, lowering costs and a number of other effects. These tendencies are often accompanied by occasional and severe financial crises, which pose a threat not only to individual countries and regions, but also to the global economy.
Short Description
AKCIONARSTVO (Shareholding) is a scientific and professional journal that publishes papers in the field of management. Topical areas of the journal are: management systems, managerial accounting, engineering management, information systems, information technology, marketing management, public sector management, management policy, human resources management, operational management and other related fields.
Journal provides open access to content in order to ensure free availability of research results and knowledge sharing.
