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The paper examines the influence of the quality of gastronomic manifestations on tourist destination brand equity. The research was conducted on the example of the tourist destination of Vojvodina. More precisely, the research was conducted on a sample of 600 visitors at 32 gastronomic manifestations, which were organized on the territory of Vojvodina in the second half of 2022. The survey was conducted during the holding of gastronomic manifestations. The research was conducted using SEM. The results show that the quality of gastronomic events has a positive impact on strengthening the brand equity of the destination. This conclusion was drawn based on findings that show that all dimensions of the quality of the hospitality event have a positive impact on all components of brand equity. The results of the survey show that food at the event has the greatest impact on destination brand equity, while souvenirs have the least impact. The facilities at gastronomic events have a significant impact on brand quality, while the informational services at a gastronomic event have a significant impact on destination brand awareness.

The paper examines whether differences in travel motives as well as whether differences in the travelling society, as a closely related category with the travel motive, have an impact on differences in the perception of satisfaction with the destination and accommodation at the destination. The research was conducted on the example of Vrnjačka Banja, a tourist destination that is experiencing evolution and transformation from a spa destination of mass tourism to a wellness and spa luxury destination, which focuses on the so-called bleisure tourists. The research was conducted on a sample of 143 respondents who visited the destination in the period from May to September 2023. The results of the research show that differences in travel motives affect satisfaction with the destination, as well as satisfaction with accommodation at the destination. On the other hand, the research did not find clear evidence that differences in travel companions affect satisfaction with the destination, as well as satisfaction with accommodation at the destination.

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 success. Determinants such as the quality of environmental protection management and socially responsible hotel business do not have a significant impact on success in hotel industry in the Republic of Serbia.

This paper examines the impact of ten microeconomic factors on hotel business success. This research encompassed a sample of 115 small, family-operated hotels situated in rural regions of the Western Balkan countries (WBC). This research was based on the assumption that factors such as the size of the hotel, age, solvency, liquidity, labour productivity, capital productivity, CSR, and reduction of CO2 emissions exhibit a positive influence on business success, whereas leverage, indebtedness, and energy consumption have a negative effect on the business success of hotels. The findings revealed that business success from the previous period, size, liquidity, and CSR exhibit a positive influence on business success, whereas leverage, capital productivity, and indebtedness demonstrate a negative effect. Conversely, the age of the hotel and labour productivity were not found to significantly influence business success, as did energy consumption. In the context of sustainable development, a positive CSR impact means that tourists value this behaviour of the hotel, while a lack of a statistically significant impact of energy consumption implies either that hotels do not implement efficient measures of energy efficiency or that energy efficiency may not be a crucial factor in attracting guests or influencing their loyalty. The findings also show that labour productivity expressed conventionally does not have a statistically significant impact on hotel business success. However, when expressed in a way that respects the concept of sustainable development and CSR, workforce productivity is a significant factor in hotel business success. Due to the problem of multicollinearity, the influence of CO2 emissions was not examined. The findings suggest the following two groups of key measures: 1. Policymakers must work on ensuring more favourable conditions under which hotels can borrow, as well as on ensuring adequate infrastructure; 2. They must work on improving the strategy for maintaining liquidity to avoid the high costs of short-term loans and increasing size in order to further utilise economies of scale. These two microeconomic factors have the greatest impact on the business success of hotels. [ABSTRACT FROM AUTHOR]

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.

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.

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.

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 IT equipment. The obtained results show that human and engaged capital have a statistically significant impact on financial performance, while structural capital does not.

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.

The purpose of this paper is to examine the influence of the most significant organizational factors on primary school achievements, with a note that the achievement of the school is expressed through the quality of outcome knowledge. The research was conducted on a sample of 460 employees, from 21 primary schools, of which 439 are professionals and 21 are principals in the South Bačka County, Republic of Serbia. The collected data were processed using the Gretl software and AMOS for modelling structural equations. More precisely, the research is based on the application of exploratory and confirmatory factor analysis. A neural network based on a standard multilayer perceptron model was used in the paper to test the validity of the obtained results of the AMOS model. The results of the research show that school management is the most important factor in school achievement and that this influence is most pronounced through teaching staff and school infrastructure. The results, also show that teachers' competencies have the strongest direct influence on the quality of outcome knowledge. The results obtained indicate that decision-makers and creators of social policies must pay special attention to the selection of school principals as well as their professional education, while school principals to the selection of teachers. Future researchers are recommended to use the Sobel test to precisely determine the indirect influences of school management on school achievement. [ABSTRACT FROM AUTHOR]

The paper examines factors that influence the occurrence and movement of nonperforming agricultural loans in Serbia, Montenegro and Bosnia and Herzegovina. The aim of the paper is to determine the direction and significance of the relationship between the key micro and macroeconomic factors and the impractical agricultural loans in these countries, but also to point out the importance of applying dynamic data panel evaluators when it comes to the study of this problem.

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The purpose of this paper is to investigate the performance of unconditional and conditional Value at Risk (VaR) and Expected Shortfall (ES) models based on EVT. The application of one unconditional VaR and ES model based on EVT and three variants of conditional models of VaR and ES based on EVT in the capital markets of the selected WBC was tested in the paper. To test the VaR model, a conditional and unconditional cover test was used, with the note that their results were subject to verification using the Monte Carlo test procedure. The obtained results suggests that these models can be successfully used to quantify extreme market risk in selected markets, in the context of Basel standards. ES models have been tested and ranked using loss function. By using the Bootstrap simulation, these results are subject to verification. The obtained results does not reveal which model is most suitable for the selected markets, since they are differently ranked in different markets.

In this paper the authors present a new VaR model for the estimation of market risk in banks and other financial institutions. The model is labeled BootstrapHS500, since it is theoretically based on historical simulation and implementation of the bootstrap method. The aim of the paper is to provide answers to the question whether incorporating the bootstrap method in the standard model of historical simulation contributes to the improvement of the historical simulation's applicability in terms of meeting the backtesting rules of the Basel II standards. In order to obtain the answer to this question, in this paper we conducted and dealt with the testing of applicability and comparison of performances of the HS500 and the BootstrapHS500 models at the capital markets of Serbia, Croatia, Greece, Spain, Germany, Slovakia, the Czech Republic, Romania and Hungary. The research methodology involves the use of the appropriate quantitative analysis and tests of unconditional and conditional coverage. The results of the research show that the BootstrapHS500 model achieved a better performance than the standard model of historical simulation, from the perspective of both backtesting tests. It can be concluded that incorporating the bootstrap method in the standard model of historical simulation contributes to the improvement of the historical simulation' applicability.

Copyright of Bankarstvo Magazine is the property of Association of Serbian Banks and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Bankarstvo Magazine is the property of Association of Serbian Banks and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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 success of students through the establishment of an adequate school infrastructure, which affects the knowledge quality. Knowing the factor that has the highest impact enables principals to manage this factor and contribute to enhancing the knowledge quality. This research contributes to raising awareness of the importance of particular organizational factors in elementary education and the need to improve them. [ABSTRACT FROM AUTHOR]

Copyright of Bankarstvo Magazine is the property of Association of Serbian Banks and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Bankarstvo Magazine is the property of Association of Serbian Banks and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Ekonomika is the property of Society of Economists 'Ekonomika' and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of TEME: Casopis za Društvene Nauke is the property of TEME: Casopis za Drustvene Nauke and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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. [ABSTRACT FROM AUTHOR]