Anna Pietruszka-Ortyl
The knowledge workers who form the core of the crew of a modern organization have emerged. They have a unique position in an enterprise, which complicates the incentive system building process and managers’ formal impact on their activities. With a „deep-smarts” status, they adopt the attitudes that restrain or even intentionally hide knowledge flow. Providing support to organizational culture is crucial for motivating knowledge workers to contribute to an organization with their knowledge. This research paper is mainly aimed at identifying knowledge workers’ preferences for organizational culture. The paper focuses on indicating the directions of the development of Polish IT companies’ organizational culture in line with the attitudes of the professionals aiming to stimulate their involvement in the implementation of specific knowledge diffusion subprocesses. The paper is based upon the empirical research conducted on a sample of 105 IT sector knowledge workers in Poland in 2020.
Lilianne Isabel Pavón Cuéllar
As proposed by the current theoretical framework, the fact that the economic growth of a country depends not only on the formation of physical and human capital and the sustainable exploitation of its natural resources, but also on the financial inclusion that allows economic agents to find solutions to liquidity restrictions and channel savings towards productive investment is exhibited in this paper. By matching multiple databases, static and dynamic panel estimates are developed, verifying the robustness of results and the endogenous nature of economic growth. The current research demonstrates that social inclusion is not only the desired result of economic growth, but a required input for its future sustainability.
Vlastimir Leković
U Svesci 2 Volumen 23 Godište 2021 naučnog časopisa Ekonomski horizonti publikuju se četiri izvorna naučna i dva pregledna članka, i Zahvalnica recenzentima rukopisa podnetih Uredništvu Časopisa, u 2020.
Dejana Zlatanović
Hasnan Baber1 and D. Tripati Rao2
The decision on immediate lockdown in India put economic, social and religious activities to a grinding halt. The paper examines the impact of the lockdown and social distancing policies on economic activities in India, using a multivariate econometric model for the data collected in the period from 1st January to 31st August 2020. While the social distancing policy is captured in terms of internal movement, domestic travel and international travel restrictions, its effect on the economic activity and the business activity is captured through stock prices, purchasing managers’ index and the exchange rate. Confirmed COVID-19 cases and related deaths are also used as the independent variables. The results reveal a significant negative impact of social distancing policies on the economic activity and the business activity, the stock market and the exchange rate. Furthermore, the economic stimulus provided by the Government could not bring a positive influence on the stock market.
Santosh Borkakati and Konthoujam Gyanendra Singh
Fiscal responsibility law has become an important instrument for better fiscal management and ensuring fiscal discipline, particularly so in the federal countries where their subnational governments often indulge in fiscal indiscipline. In 2003, India adopted the Fiscal Responsibility and Budget Management Act for rule-based fiscal discipline, and the states of India were also asked to adopt their own fiscal rule legislation in line with the legislation adopted by the central government. As a fiscally weak Indian state, Assam enacted the Assam Fiscal Responsibility and Budget Management (AFRBM) Act in 2005 for better fiscal management. The paper attempts to examine the impact of the AFRBM Act on the fiscal performance of the state by analyzing the dynamics of the fiscal variables in the pre- and post-AFRBM Act periods. The study finds that the state has improved its fiscal condition after the introduction of the AFRBM Act, even though it has remained prone to fiscal shocks.
Vladimir Obradović1, Marko Milašinović2 i Jasmina Bogićević1
Informacije o segmentima preduzeća predstavljaju važnu osnovu za donošenje poslovnih odluka. Da bi odluke zasnovane na informacijama o segmentima bile adekvatne, te informacije treba da budu saopštene u skladu sa regulativom. Cilj rada je da se ispita adekvatnost informacija o segmentima kotiranih društava u Republici Srbiji i Republici Hrvatskoj, kao i da se utvrdi da li postoje veze između obima obelodanjenih finansijskih informacija o segmentima i veličine preduzeća i karaktera revizorske kuće. Istraživanje je otkrilo da obelodanjivanje informacija o segmentima generalno nije potpuno u skladu sa Međunarodnim standardom finansijskog izveštavanja 8 – Segmenti poslovanja. Utvrđeno je i da akcionarska društva sa većom vrednošću ukupnih sredstava obelodanjuju detaljnije finansijske informacije o segmentima. Međutim, nije otkrivena statistički značajna razlika u količini obelodanjenih informacija o segmentima između preduzeća čiji su finansijski izveštaji predmet revizije od strane velikih revizorskih kuća i onih koja su klijenti ostalih revizorskih kuća.
Radovan Kovačević
U radu se analizira adekvatnost nivoa deviznih rezervi Republike Srbije (RS) i faktori koji utiču na njihovo akumuliranje, uz primenu ekonometrijskog modela. U analizu su uključene relevantne promenjive, kao što su bruto domaći proizvod (BDP), realni efektivni devizni kurs (REDK) i monetarni agregat M2/BDP. Pomoću testova jediničnog korena, utvrđeno je da su varijable integrisane reda I(1). Test kointegracije je otkrio postojanje jedne kointegracione jednačine. Regresioni model je ocenjen korišćenjem kvartalnih podataka, za period od prvog kvartala 2002, zaključno sa trećim kvartalom 2020. Ocenjeni koeficijenti kointegracionih parametara pokazuju da naglašen uticaj na akumuliranje deviznih rezervi ima privredna aktivnost aproksimirana pomoću BDP-a, a zatim, pritisak na apresijaciju dinara (aproksimiran pomoću indeksa REDK) i rast novčane mase (ocenjen preko monetarnog agregata M2/BDP). U analizi se, sem konvencionalnih, ukazuje i na specifične faktore i njihov uticaj na formiranje deviznih rezervi RS. Rezultati istraživanja pokazuju da su devizne rezerve RS veće od nivoa koji preporučuju standardni kriterijumi optimalnosti. Nalazi u radu, takođe, sugerišu da je potrebno uzeti u obzir dividende, koje ostvaruju strani investitori u RS, kao i određene segmente portfolio investicija, prilikom utvrđivanja specifičnog pokazatelja adekvatnog nivoa deviznih rezervi.
Henry Osahon Osazevbaru
This paper investigates the joint impact of interest rate and exchange rate volatility on the performance of the informal sector in Nigeria, focusing on Small and Medium-sized Enterprises (SMEs). The annual time-series data on the exchange and interest rates for the period 1981-2018 were obtained from where exchange and interest rates volatility data were computed. The data analysis was carried out using descriptive statistics, correlation, a unit root test, an Autoregressive Distributed Lag (ARDL) bound test for cointegration and the ARCH regression model. The results obtained by the ARDL bound test confirmed the presence of the long-term relationship between interest and exchange rates volatility and SMEs’ performance, which suggests that all the variables of interest move together in the long run. Moreover, the ARCH regression model showed a positive impact of exchange and interest rates volatility on SMEs’ performance. However, only exchange rate volatility was significant. Thus, policy makers should pursue the interest rate and exchange rate regimes that will encourage massive investments in SMEs. This, in turn, would increase the performance of SMEs. Also, the monetary authorities should implement the policies aimed at curtailing incessant volatility in the exchange rate and the interest rate so as to protect SMEs from the external perturbations of the movements of the exchange rate and the interest rate.