Papers by Nikola Radivojevic
Ekonomski signali
This paper examines the impact of intellectual capital on the performance of small and medium IT ... more This paper examines the impact of intellectual capital on the performance of small and medium IT companies operating in the Republic of Serbia. The research was conducted on the example of 112 IT companies, using panel data analysis, in such a way that the data was collected from the balance sheet and success of IT companies for the period from 2013 to 2020. The primary goal of the research is to determine the importance and impact of intellectual capital on the performance of IT companies, since this is a sector based on the 5th industrial revolution. An additional goal of the research is to answer the question of which element of intellectual capital has the greatest impact on the success of small and medium IT companies in the Republic of Serbia. The results of the research indicate that intellectual capital has an impact on the business performance of IT companies in human and engaged capital. Research has found that structural capital has a negative impact on business performance.
Journal of Risk Model Validation
Journal of the National Science Foundation of Sri Lanka, 2021
In the flexo printing process, flexible food packaging materials are exposed to various effects (... more In the flexo printing process, flexible food packaging materials are exposed to various effects (solvents, temperature, transport devices, etc.), that impact the quality of food packaging materials. Although, literature is available on the impact of these factors on the quality of food packaging, there are very few papers examining the impact of the flexo printing process on food packaging materials. Therefore, the aim of this paper is to examine if there are any changes occurring in tensile strength, elongation before tearing and gas permeability after the flexographic printing process regarding the selected flexible packaging materials-oriented polypropylene (OPP) and coated paper/polyethylene (PAP/PE). The measurement of tensile strength and elongation before tearing was carried out according to SRPS G.S2.734, and the measurement of gas permeability according to Lussy Method-DIN 53380. The results presented in this paper show that the tensile strength and elongation in both foil samples increased after the printing process (a higher increase of strength is determined in the PAP/PE foil). The exception is the PAP/PE sample, where increased permeability of N2 was observed. The reason for such results could be due to different surface characteristics of the tested materials since the process of ink absorption is different. Surface tension tests were conducted by applying measurements of the contact angle. The results show that the process of flexo printing did not change the functional properties of the packaging.
This paper presents a comparison of parametric and nonparametric methods of value at risk, with t... more This paper presents a comparison of parametric and nonparametric methods of value at risk, with the aim of obtaining answers to the question of which method is more appropriate for the Serbian capital market, given that many empirical studies suggest that the assumption of normal distribution underlying the parametric methods, i.e. that the assumption of identical and independent distribution, which relies nonparametric method are not realistic in the Serbian capital market. Applicability of both methods was tested by empirical research on the example of the index Belexline from 01. 03. to 31. 03. 2009. year. Applicability has been tested by the daily VaR estimates obtained by parametric and nonparametric methods we compared with the actual yield changes in general stock index BELEXline. Model HS-255 has been developed for the assessment VaR.
Industrija, 2008
Rezime: Opština Vrnjačka Banja se može svrstati u red privredno relativno razvijenijih opština u ... more Rezime: Opština Vrnjačka Banja se može svrstati u red privredno relativno razvijenijih opština u zemlji. Pored dominantno zastupljene industrijske proizvodnje, prisutna je u manjoj meri poljoprivredna proizvodnja, zatim saobraćajne usluge i turizam kao tradicionalna delatnost opštine, grañevinarstvo, trgovina i druge uslužne delatnosti. Meñutim, negativan prirodni priraštaj, pad stope fertiliteta, migracioni procesi, nepovoljna starosna struktura aktivnog stanovništva odnosno deficitarnost mladih generacija potrebnih za obnavljanje radnog kontigenta stanovništva jasno ukazuju da odreñeni aspekti radne snage u narednom periodu mogu predstavljati jedan od problema i jedno od značajnih ograničenja u razvoju opštine. Težište razvoja opštine Vrnjačke Banje u narednom periodu neophodno je staviti u funkciju rešavanja ovih problema. Ključne reči: demografska statistika, stanovništvo, natalitet, mortalitet,prirodni priraštaj. Summary: The municipality of Vrnjacka Banja, in economic terms, is one of the relatively developed municipalities in the country. The manufacturing industry is dominant. There are also, but in a less degree, the agricultural production, the transportation services, the tourist industry as Vrnjacka Banja's traditional activity, the construction industry, the trading activities, etc. There are some elements indicating that certain labour force aspects can be problematic in the next period and can limit the municipality development.These indicators are: the negative population growth , decline of the fertility rate, the migration processes, an adverse age structure of the active pupulation, i.e deficiency of the young generations needed for labour force regeneration etc. It is necessary to put a focus of Vrnjacka Banja's development for the incoming period, into the function of these problems solving.
Industrija, 2009
Rezime: Ubrzani razvoj i rastući znaĉaj trţišta kapitala u nastajanju kao investicione alternativ... more Rezime: Ubrzani razvoj i rastući znaĉaj trţišta kapitala u nastajanju kao investicione alternative, s jedne i specifiĉnosti ovih trţišta, s druge strane, nameću potrebu sagledavanja aplikativnosti savremene portfolio teorije. U radu je ukazano na kompatibilnost odnosno nekompatibilnost pretpostavki na kojima je izgraĊena savremena portfolio teorija sa karakteristikama trţišta kapitala u nastajanju. Kljuĉne reĉi: Savremena portfolio teorija, efikasni portfolio, trţišta u nastajanju, identiĉna i nezavisna distribucija, autokorelacija, volatilnost. Summary: Rapid development and growing importance of capital emerging markets as the investment alternatives, one side and the specifics of these markets, on the other side, impose the need for consideration of application modern portfolio theory. The paper points out the compatibility or incompatibility of the assumptions that built modern portfolio theory with the characteristics of emerging capital markets.
Industrija, 2009
Rezime: Svi relavantni pokazatelji o dosadašnjem razvoju turizma ukazuju da, kao i u mnogim drugi... more Rezime: Svi relavantni pokazatelji o dosadašnjem razvoju turizma ukazuju da, kao i u mnogim drugim zemljama, turizam u Srbiji predstavlja propuštenu šansu. Da su istorijske okolnosti bile drugaĉije nesumljivo je da bi, sa stanovišta turistiĉke traţnje i resursne osnove, naša zemlja našla mesto meĊu najatraktivnijim zemljama Evrope. Smatra se da Srbija raspolaţe znaĉajnim prirodnim potencijalnom za razvoj turizma, kao i da je primena koncepta odrţivog razvoja vaţna za budući razvoj turizma. Jedan od prirodnih potencijala Srbije predstavljaju termomineralni izvori koji ipak nisu na pravi naĉin turistiĉki valorizovani i iskorišćeni. Kljuĉne reĉi: odrţivi razvoj, banjski turizam, broj turista, turistiĉki promet. Summary: All the relevant indicators of the past tourism development, like in many other countries, indicate that serbian tourism represents a lost opportunity. If historical circumstances had been somewhat different, our country would certainly have found its place among the most attractive European countries, regarding tourist demand and resources base. It is believed that Serbia has significant natural potential for tourism development, and that use of the sustainable development concept is very important for future tourism development. One of the Serbian natural potentials are the thermal mineral springs, althought they are not tourist valorized and utilized in a proper way.
Industrija, 2007
Moguünosti i ograniþenja e-businessa Rezime: Organizacije tragaju za novim naþinima kreiranja vre... more Moguünosti i ograniþenja e-businessa Rezime: Organizacije tragaju za novim naþinima kreiranja vrednosti za sebe, svoje potrošaþe i partnere. One posluju prelazeüi tradicionalne granice i definicije industrije. Ove inovacije vode ka fokusu na biznis model kao novom naþinu poslovanja. Akcenat u radu je na tome šta menadžment mora da zna o e-poslovanju, prilikama koje Internet pruža, glavnim razlozima neuspeha dotcom kompanija i principima biznis modela, ukoliko žele da izgrade efektivni biznis model. Pored toga, u radu je prikazan novi biznis model namenjen malim i srednjim preduzeüima, posebno u zemljama u razvoju. Kljuþne reþi: Biznis model, e-poslovanje, e-trgovina, Internet atributi. Summary: Organizations seek new ways of creating value for themselves, customers and partners. They operate outside and across traditional industry boundaries and definitions. These innovations have lead to focus on business model as a new method conduct business operations. This paper highlights what managers need to know about e-business, Internet´s opportunities, major reasons unsuccessful dotcom and business model desing principles, if they want to build own effectual bisniss model. Additionally, this paper present new business model that designed for small and medium enetrprises, in particular, in developing country.
Ekonomija: teorija i praksa
The paper examines the influence of the key determinants of success in hotel industry in the Repu... more The paper examines the influence of the key determinants of success in hotel industry in the Republic of Serbia. The research was conducted for the period from 2015 to 2020 on a sample of 23 hotels. The chosen length of the observation period covers a sufficient time interval to cover all heterogeneities in the structure of the observation units, as well as their changes over time, using the dynamic panel analysis model. The adequate sample size was determined by considering the size of the population, the desired level of confidence, and the value of the allowable sampling error. The results of the research have shown that determinants such as business success from the previous period, efficiency of use of total business assets, belonging to a hotel chain, size and increasing hotel concentration index have a positive impact on success in hotel industry. On the other hand, determinants such as hotel indebtedness, operating leverage and hotel age have a negative impact on business su...
Bankarstvo
The paper examines the impact of CSR on the financial performance of banks operating in the Repub... more The paper examines the impact of CSR on the financial performance of banks operating in the Republic of Serbia. The research was conducted on the example of seven banks for the period from 2006 to 2019, using panel data analysis. Parameter estimates were obtained using three different estimators, Pooled OLS, fixed effects method, and random effects method. The research results show that two dimensions of CSR have a statistically significant impact on the financial performance of banks; environmental responsibility has a positive influence on the business results expressed through ROA, while respect for the basic principles of business and the success of the bank's business has a negative influence.
Ekonomija: teorija i praksa
The paper examines the causality between the costs of (re)designing the organizational structure ... more The paper examines the causality between the costs of (re)designing the organizational structure of transport companies operating in the Republic of Serbia and their competitiveness. The research was conducted on the sample of 22 transport companies, applying the Granger model of causality. The research covers the period from 2006 to 2020. The primary goal of the paper is to determine whether there is a causal relationship between the costs that companies sacrifice in (re)designing the organizational structure and their competitiveness, which is in the paper expressed by the market share. The findings indicate that there is bidirectional (or feedback) causality.
Journal of Risk Model Validation
Bankarstvo
Although there are many papers that examine the impact of intellectual capital on the performance... more Although there are many papers that examine the impact of intellectual capital on the performance of financial institutions, there are almost no papers that deal with developing markets. According to the author's knowledge, no one in Serbia has studied the effects of IC on financial institutions operating in the financial sector. This sector is extremely important for the Serbian economy since it is the leading sector in which the effects of modern information technologies are the most exploited and in which competitiveness is pursued by attracting new clients, by offering innovative solutions and services. Hence, the aim of this paper is to identify and analyze the IC's impact on financial performance in order to answer whether the impact of IC on the financial performance of financial institutions operating in developing markets has the same importance as the impact on financial institutions operating on developed markets, characterized by a high degree of innovation and I...
U radu analizirase “Traffic light” pristup,koji se nalazi u osnovi Bazel II standarda za testiran... more U radu analizirase “Traffic light” pristup,koji se nalazi u osnovi Bazel II standarda za testiranje validnosti internih modela vrednosti pri riziku, s aspekta njegovih prednosti i ograničenja. Analiza pristupa ukazuje da puko zadovoljenje njegovih kritrijuma i zahteva ne garantuje da su modeli vrednosti pri riziku ispravni, te da bi po banke prihvatanje modela kao ispravnih koji su prošli ovaj test validnosti, bez uvažavanja i korišćenja testova koji se fokusriaju na osobinu uslovnog pokrića, moglo da ima dalekosežne posledice
Interorganizational nature and global character of business-to-business market have given marketi... more Interorganizational nature and global character of business-to-business market have given marketing communications significant role in linking industrial companies with international organizational buyers. This paper is devoted to the formulation of the global communication concept in this area. The authors specifically discuss international communications strategy in business-to-business market, as well as organization and instruments of global promotional mix with an emphasis on their effective synchronizing.
Journal of Business Economics and Management, 2020
The research within this paper is motivated by the opinion that different organizational factors ... more The research within this paper is motivated by the opinion that different organizational factors in primary education can have a stronger or weaker impact on the quality of the learning outcome. Organizational factors, criteria analyzed in this paper, are school management, school infrastructure, students’ foreknowledge, teacher competencies, curriculum content, student motivation, and the quality of the teaching process. Using SWARA (Step-wise Weight Assessment Ratio Analysis) method of multi-criteria decision-making, the answers of elementary school principals, members of the panel of experts, were processed. The calculation within this method was performed using fuzzy numbers to ensure the reliability of expert evaluations. The results of the applied method, in the form of weighting coefficients of the criteria, indicate that school management has an influence on the selection and building of teachers’ competencies while the given competence can indirectly affect the overall succ...
This paper presents the results of an original empirical research of the effects and the importan... more This paper presents the results of an original empirical research of the effects and the importance of foreign direct investments on the economic development of developing countries, as well as the determinants of attracting them, with particular reference to European developing countries, which was conducted using panel data through an example of selected Western Balkan countries: Serbia, Montenegro, Bosnia and Herzegovina and Macedonia. The research was conducted during the period from 2000 to 2017. The research results show that there is no statistically significant connection between political risk indices, GDP and unemployment rates and technology transfers, on the one hand, and FDI inflow rates, on the other. The results of the analysis reveal that the FDI rate is inversely proportional to the inflation rate in the host country.
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Papers by Nikola Radivojevic