Khushboo Gupta1, Venkata Ramana Thanikella2, Omkar Singh Deol3 and Kanishka Gupta4
The objective of the current paper is to study the relationship between company financial factors, macroeconomic factors and the market measures of risk of the Consumer Goods Sector of the Indian economy. Systematic, unsystematic and total risks are the measures of the risk used. Dynamic panel data regression techniques have been applied to the data of the companies comprising the S&P BSE FMCG index of the Bombay Stock Exchange (BSE) of India. The time frame established for the study is the period from 2011 to 2020. The results show that on average 89.6 percent of total risk is attributable to the unsystematic portion, whereas the rest is attributable to the systematic portion. Furthermore, both the financial variables and macroeconomic variables can be used to gauge the risk related to investments. Moreover, marketing personnel may justify their expenditure that builds their brand value as these efforts will reduce the risk for investors and increase their wealth. The results of this study are especially useful for business managers, as well as investors, helping them to understand risk and the factors contributing to it, which may provide useful insights regarding cost-of-capital and value-of-firm calculations.
Nada Trivić1 i Bojana Todić2
Teorijski model tržišta savršene konkurencije dovodi do efikasne alokacije resursa, a jedna od pretpostavki tog modela je potpuna informisanost tržišnih subjekata. Međutim, u stvarnosti tržišni subjekti su najčešće asimetrično informisani. Cilj ove analize je da ukaže da je asimetrična informisanost gotovo sveprisutna, ali i da se ukaže na posledice asimetrične informisanosti i mogućnosti njihovog otklanjanja ili ublažavanja. Pored toga, cilj istraživanja je i teorijska potvrda prisustva asimetrične informisanosti i njenih posledica i na tržištu rada, kao i pokušaj matematičke formalizacije takvih tržišta, posebno formalizacija tržišta rada modeliranjem načina obračuna zarada radnika i ciljne funkcije poslodavaca, kao mogućnost prevazilaženja problema principal-agent. Definisani ciljevi istraživanja odredili su strukturu ovog rada, kao i metodološki instrumentarijum. Da bi bile testirane i dokazale definisane hipoteze u istraživanju i realizovani definisani ciljevi istraživanja, koriste se metode teorijske analize, apstrakcije, komparacije, konkretizacije, generalizacije i kritičkog vrednovanja i upotrebe.
Vallari Chandna
Temporary organizations take on numerous forms and can be found within and across traditional organizational forms. With the rise of remote work, born-global organizations and collaborative work, temporary organizations are becoming more prevalent. They are playing critical roles in a host of situations and organizational leaders need to better understand the phenomena so as to be able to navigate and utilize them correctly. In this paper, a conceptual model intended to understand how temporary organizations partially embedded in multiple parent organizations are being faced with unique identity issues is proposed. The individuals involved with such boundary spanning temporary organizations have identity issues due to their multiple identities being at odds with each other. Using the theories of temporary organizational forms and the social identity, the given conceptual framework shows that the dilemmas related to multiple identities can be resolved by: buffering and ordering identities, self-selecting into temporary organizational forms, and acknowledging such multiple identities and allowing them to simultaneously be salient. Additionally, the consequences of a lack of resolution are explored, including reduced group cohesion, lower performance and the unethical behavior on the part of the pro-parent organization.
Maria Rio Rita, Yeterina Widi Nugrahanti and Ari Budi Kristanto
This study aims to examine whether Peer-to-Peer (P2P) lending, financial bootstrapping and government support affect the performance of Micro, Small, and Medium-sized Enterprises (MSMEs) by adding a mediating variable in the form of innovation. Innovation mediation is expected to be able to optimize the influence of government funding and incentives towards improving business performance. This study used an SEM-PLS analysis technique. The study samples were the MSMEs located in the city of Salatiga – Central Java, Indonesia. The results showed that P2P lending and financial bootstrapping had a positive effect on business performance and innovation. While government support had a positive effect on innovation, on the one hand, it had no effect on business performance, on the other. Innovation itself is proven to have an influence on business performance. This study also finds that innovation mediates the effect of P2P lending on business performance, facilitates the effect of financial bootstrapping on business performance and reconciles the effect of government support on business performance.
Aleksandra Bošković
U eri digitalizacije, tradicionalni faktori uspeha preduzeća dovedeni su u pitanje, pa je potrebno preispitati ustaljene obrasce rada i ispitati nove načine za stvaranje održive vrednosti. Obzirom da ljudi, kao nosioci znanja, predstavljaju ključne pokretače vrednosti, neophodno je istražiti načine za unapređenje njihovog potencijala. Cilj istraživanja u radu jeste da se pokaže da autonomija doprinosi unapređenju angažovanosti zaposlenih u digitalnom okruženju, a posebno u uslovima rada na daljinu. U tom smislu, objašnjen je koncept angažovanosti zaposlenih, kao stanja visoke energije, posvećenosti i okupiranosti poslom i ukazano je na moguće načine za unapređenje angažovanosti, kroz povećanje autonomije. Empirijskim istraživanjem je potvrđeno da autonomija pozitivno utiče na energiju i posvećenost, kao dimenzije angažovanosti, kao i da je uticaj na energiju jači kod zaposlenih koji rade na daljinu.
Lich Khac Hoang1, Binh Tan Cao2, Kim My Le2 and Dung Thi Thuy Nguyen2
This paper examines the impact of taxes on the economic growth based on classifying countries by GDP per capita and a tax burden. The Partitioning Around Medoids (PAM) technique is used because it is not too sensitive to outliers. Through this multicriteria classification technique, the Generalized Method of Moments (GMM) is employed to analyze the data of the three groups consisting of 63 countries from 2003 to 2017. The results show that most taxes have a positive impact on economic growth in poor countries (Group 1). Interestingly, taxes on goods and services promote economic growth in rich countries (Group 3), rather than having a negative effect, as is concluded by some previous studies. Specially, while the property tax has a negative effect on economic growth in rich countries, its impact is significantly positive in poor countries.
Saša Ranđelović1 i Svetlana Vukanović2
U ovom radu se analizira nivo fiskalne decentralizacije i strukturne karakteristike lokalnih javnih finansija u Republici Srbiji, sa fokusom na lokalnu politiku javnih investicija. Udeo rashoda centralnog nivoa vlasti u konsolidovanim javnim rashodima u Republici Srbiji iznosi 83%, što ukazuje na relativno visok stepen fiskalne centralizacije. I pored rasta javnih prihoda u poslednjoj deceniji, lokalne javne investicije su i dalje niske – u Republici Srbiji iznose 1% BDP-a, što je znatno ispod proseka EU (1,4%) i Centralne i Istočne Evrope (1,5% BDP-a). Rezultati ukazuju na velike razlike u relativnoj visini javnih investicija po lokalnim samoupravama. Veći deo lokalnih javnih investicija usredsređen je na održavanje putne i administrativne infrastrukture, dok su ulaganja u životnu sredinu i obrazovanje niska. Da bi se smanjili lokalni dispariteti u kvalitetu lokalne infrastrukture i podstakla ekonomska konvergencija, neophodno je unapređenje kapaciteta za planiranje i sprovođenje investicija i uvođenje sistemskih podsticaja za lokalne javne investicije.
Dejan Spasic1,3, Mutaz A. Abouagla2 and Vojislav Sekerez1
Developing countries are faced with a lot of challenges in providing high-quality financial reports based on modern accounting regulations and practices. With its specific colonial and postcolonial history of socioeconomic relations, Sudan is one of a few countries that has not adopted the International Financial Reporting Standards (IFRS) either as a mandatory or as a voluntary financial reporting framework. Focusing on a sample of 142 respondents, the attitudes towards the obstacles and possible benefits of introducing the IFRS in Sudan expressed by accountants working in the industry sector are examined in the paper. This research study has shown that Sudanese accountants are highly aware of the needs and benefits of the IFRS adoption. The respondents predominantly agree that the IFRS adoption would increase the FDI inflow, reduce frauds and other unlawful activities, and improve the comparability, reliability and transparency of financial information, which currently is not the case. However, the research shows that accountants in Sudan also express a high degree of skepticism, given the numerous restrictions that they believe would make the introduction of the IFRS more difficult.
Ochuko Benedict Emudainohwo
The extant literature links manageress incentives to earnings management. It has globally accounted for the collapse of some well-known, established firms, since it depicts a low financial reporting quality. This study employed data from the 77 nonfinancial firms listed on the Nigerian Stock Exchange for the period 2013-2019 in order to examine the determinants of earnings management. The result showed strong evidence of an incentive to manage earnings. Profitability (Return on Assets – ROA) and the size of a firm have a strong positive impact on earnings management, while the non-debt tax shield and operating cash flows have a strong negative influence on earnings management. The study suggests that external stakeholders should observe a firm’s factors influencing its assets, non-debt tax shield and operating cash flows (such as accelerating/delaying cash receipts/payment through the use of credit sales and granting discounts), these being the crucial factors influencing earnings management even when the firm is increasing in size. Management should minimally use the above-mentioned factors of a firm as an earnings management instrument.
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.