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
In the digitalization era, traditional organizational success factors have been called into question, so it is necessary to reconsider the established work patterns and find new ways to create sustainable value. Given the fact that, as bearers of knowledge, people are the key drivers of value, it is important to explore possible ways to improve their potential. The research study carried out in this paper is aimed showing that autonomy contributes to the development of employee engagement in the digital environment, especially so in remote working conditions. In that sense, the concept of employee engagement was explained, as a state of high vigor, dedication and absorption. Possible ways to improve engagement through increasing autonomy are pointed out as well. The empirical research has confirmed that autonomy has a positive effect on vigor and dedication as the engagement dimensions. The impact autonomy exerts on vigor is stronger in the employees working remotely in comparison with those who do not work remotely.
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 and Svetlana Vukanović2
This paper analyses the level of fiscal decentralization and structural characteristics of local public finances in Republic of Serbia with focus on local public investments. Share of central government expenditures in consolidated government spending of 83%, indicates relatively high degree of fiscal centralization. In spite of significant rise in local public revenues in the last decade public investments remained low – amounting to 1% of GDP, which is significantly below EU and Central and Eastern Europe average (1.4 and 1.5% GDP, respectively). Our results indicate large variation in relative size of public investments across LSGs. Most local public investments are focused on roads maintenance administrative infrastructure, while investments in environment and education are low. To tackle local disparities in terms of quality of local infrastructure and to foster economic convergence, development of planning and implementation capacities and introduction of systemic incentives for local public investments should be considered.
e investicija i uvođenje sistemskih podsticaja za lokalne javne investicije.
Vlastimir Leković
Issue 3 Volume 23 Year 2021 of the Economic Horizons scientific journal contains four original scientific and two review papers, the Subject Matter Index of the Papers and the Overview of the Authors and the Titles of all the contributions published in the Journal in the year 2021. Simultaneously, as a result of the continued endeavor of the Editorial Board of the Journal to increase the Internationality Index of the Authors while improving the quality of the papers published in it, be advised of the fact that Volume 23 Year 2021 of the Economic Horizons has published a total of 12 scientific papers written by the authors from abroad (Mexico, Nigeria, India, South Korea, Poland, Sudan, Vietnam and Indonesia), which accounts for the two-thirds (actually 66.67 per cent) of the total number of the published scientific papers in the Journal in the year 2021.
Adedayo Emmanuel Longe1, Caleb Olugbenga Soyemi2, David Adeiza Agbanuji3, Oladayo Omitogun1 and Idowu Jacob Adekomi2
The study accounts for the structural break effect in the context of Nigeria. According to the findings obtained, the linear Autoregressive Distributed Lag (ARDL) bounds test reveals that the possibility of a long-term co-integrating relationship is inconclusive. When the study further accounts for asymmetry and the structural break period, however, the Nonlinear Autoregressive Distributed Lag (NARDL) bounds test reveals that there is no long-term co-integrating relationship among the variables in Nigeria within the specified period. According to the results of the NARDL test, both the positive and the negative changes in the oil price and energy use have a negative significant impact on economic growth in Nigeria in the short run, whereas the Consumer Price Index (CPI) exerts a positive and significant impact on economic growth in the short run. The Error Correction Model (ECM) result shows that the independent variables can correct about 94% of the short-run deviation of economic growth from equilibrium in the long run. The study concludes that, irrespective of the changes in the Bonny Light crude oil price, its impact remains the same on the Nigerian economic growth.
Biljana Đorđević1, Sandra Milanović2 and Jelena Stanković1
Communication is one of the processes that take place within a company. However, employees may be more or less satisfied with the communication that takes place in their work environment. Thus, if employees are satisfied with communication inside their company, such communication satisfaction can be expected to have a positive impact on job satisfaction (JS). Employee JS can initiate many other positive consequences in terms of their attitudes and behaviors. One way to achieve this is to increase satisfaction with internal communication. Starting from the above-mentioned, the subject matter of this paper is to examine the relationship between communication satisfaction (CS) and JS on the example of employees in companies in the Republic of Serbia. This research study is aimed at determining whether there is a connection between these phenomena or not. The sample consists of 202 employees. The results of the study have shown that the bivariate correlation between CS and JS is positive. In addition, the results of the study have shown that several dimensions of CS have a statistically significant impact on employee JS.
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.