Search

The goal of this study conducted in Serbia was to detect HEV in pig liver samples from slaughterhouses, retail outlets, and environmental swabs over the course of a year. All positive HEV samples were measured and expressed as HEV gene copy numbers per gram of sample, and a representative number of samples were sequenced using the Sanger approach. A total of 45 HEVpositive samples were re-amplified using nested RT-PCR employing CODEHOP primers targeting ORF2 (493 nucleotides). The average prevalence of the HEV genotype 3 in all pig liver samples from the slaughterhouses was 29%, while HEV prevalence was 44% in liver samples from animals younger than 3 months. HEV RNA was found in thirteen out of sixty (22%) environmental swab samples that were taken from different surfaces along the slaughter line. Our findings confirmed seasonal patterns in HEV prevalence, with two picks (summer and winter periods) during the one-year examination. Among HEV-positive samples, the average viral particles for all positive liver samples was 4.41 ± 1.69 log10 genome copies per gram. Phylogenetic analysis revealed the majority of HEV strains (43/45) from Serbia were grouped in the HEV-3a subtype, while two strains were classified into the HEV-3c subtype, and one strain could not be classified into any of the HEV-3 subtypes.

U poređenju sa ostalom živinom, gajenje morki (biserki) ima određene prednosti kao što su niska proizvodna cena, dobra sposobnost adaptacije na različite uslove sredine i veća otpornost na bolesti. Postoji nekoliko varijeteta morki u zavisnosti od boje perja: plavičasta, siva, bela, crna, tamno siva. Kod nas je najzastupljenija tamnosiva morka sa belim tačkama koje podsećaju na bisere, pa otuda i naziv biserke. Uglavnom se gaje kao ukrasna živina.Odrasla jedinka ima telesnu masu od oko 1450g. Godišnje nose od 50 do 80 jaja, a u intenzivnom sistemu gajenja mogu da snesu i do 200 jaja. Prosečna masa jajeta je 38g. Genotip, pol i uslovi držanja imaju veliki uticaj na klanične osobine. Sivamorka ima najveću masu trupa 914g. Masagrudi bele morke je 276 g, bataka 55g, a karabataka oko 69g. Meso morke ima neznatno više proteina od pilećeg i ćurećeg mesa i upola manje masti, pa otuda i manju energetsku vrednost. Meso morke sadrži čak osam esencijalnih aminokiselina i zbog toga je nutritivno veoma vredno. Bogato je mineralima (Ca, Mg, Mn, P, K, Na, Cu, Fe, Zn) i vitaminima (B grupa). Sadržaj gvožđa u crvenom mesu morki (batak 1,46mg/100g, karabatak 1,33mg/100g) može zadovoljiti dnevne potrebe konzumenata. Sadržaj masnih kiselina varira u zavisnosti od ishrane morki, klime i uslova držanja. Od zasićenih masnih kiselina, palmitinske najviše ima u grudima 24,37% i miristinske koje ima najviše u bataku 0,42%. Od mononezasićenih masnih kiselina oleinske najviše ima u karabataku 25,81%. Od polinezasićenih masnih kiselina najviše je zastupljena linolna (grudi 28,62%, batak 32,58% i karabatak 42,57%), dok alfa-linoleinske najviše ima u grudima 0,51%, zatim u karabataku 0,39% i najmanje u bataku 0,11%. Meso morki je karakterističnog prijatnog ukusa, a potražnja je veća u odnosu na ponudu, što može biti podstrek budućim proizvođačima.

This study presents the results related to changes in aw value and bacteriological status of fermented sausages during maturation without and with added starter culture, stuffed into a narrower and wider casing. Values of aw of narrower and wider diameter sausages with and without added starter cultures decreased during ripening, and were close to values of 0.9. Enterobacteriaceae in narrower diameter sausages were not detected on day 18, i.e., the end of the ripening process, and these bacteria were not detected in wider diameter fermented sausages on day 25 or at the end of ripening (day 35). The increase in the lactic acid bacteria in narrow and wider diameter sausages without added starter culture was slower than the increase in the number of these bacteria in sausages with added starter culture.

In the Serbian market, fish is available from aquaculture (such as carp and trout) and from fishing (commercial and recreational catch). In the past ten years, from 2012 to 2021, there has been a decrease in the production of carp due to reduced farming areas, but trout production has increased. On average, during this period, aquaculture production yielded approximately 5,491 tons of carp and 2,977 tons of trout, while the fish catch averaged around 2,979 tons. The yield per hectare in carp ponds was 800 kg, while in trout ponds, it was 20 kg per square meter. As the demand for fish exceeds the domestic supply, the market is supplemented with imported fish.

Background/Aim. Establishing a food safety control sys-tem is extremely important in preventing diseases associated with foodborne pathogens. The aim of this study was to ex-amine the hygiene status of food contact surfaces and the ap-plication of good hygiene practices by food handlers in school canteens. Methods. A total of 10,366 swabs were tak-en from food contact surfaces, including food handler's hands from public school canteens in Novi Sad, Serbia, over ten years (2008-2017), covering voluntary good hygiene prac-tices and obligatory Hazard Analysis Critical Control Points (HACCP) implementation periods. Results. Statistically sig-nificant differences (p < 0.05) in aerobic colony counts (ACCs) on surfaces between two examined periods were found. A general positive trend regarding the reduction of microbial contamination of food contact surfaces was ob-served. The percentage of surfaces swabs with ACCs above 2.48 log CFU/cm2 significantly decreased (R2 = 0.453) during the study period, and the percentage of coagulase-positive Staphylococcus in the swabs also decreased, but not significantly (R2 = 0.264), and average annual Enterobacteriaceae counts above the established limit values on surfaces significantly de-creased (R2 = 0.442) over the years. A significantly higher (p < 0.05) percentage of workers' hands harbored ACCs, coagu-lase-positive Staphylococcus, and Enterobacteriaceae above the es-tablished limits than the equipment or work surfaces. Con-clusion. The results obtained showed the proper implemen-tation of good hygiene practices concerning food contact sur-faces, but the implementation of good personal hygiene prac-tices needs enhanced supervision., Uvod/Cilj. Uspostavljanje sistema kontrole bezbednosti je izuzetno važno u prevenciji bolesti povezanih sa patogenima koje se prenose hranom. Cilj ovog istraživanja bio je da se utvrdi higijenski status kontaktnih površina i primena dobre higijenske prakse pri rukovanju hranom u školskim kantinama. Metode. Ukupno 10 366 briseva uzeto je sa površina koje dolaze u kontakt s hranom i ruku osoblja zaposlenog u školskim kantinama u Novom Sadu u desetogodišnjem periodu (2008–2017). Istraživanje je uključivalo dva perioda: a) dobrovoljnu primenu dobre higijenske prakse i b) obaveznu implementaciju sistema Hazard Analysis Critical Control Points (HACCP). Rezultati. Statistički značajna razlika (p < 0,05) utvrđena je u ukupnom broju aerobnih bakterija (aerobic colony counts -ACCs) na površinama. Primećen je opšti pozitivni trend u pogledu smanjenja mikrobiološke kontaminacije površina koje dolaze u kontakt s namirnicama. Učestalost nalaza briseva sa utvrđenim ukupnim ACCs iznad 2,48 log CFU/cm2 smanjivala se statistički značajno (R2 = 0,453) tokom perioda ispitivanja; učestalost prisustva koagulaza pozitivnih stafilokoka se takođe smanjivala, ali ne statistički značajno (R2 = 0,264), dok se prosečan broj enterobakterija iznad utvrđenih graničnih vrednosti na površinama statistički značajno smanjio tokom godina (R2 = 0,442). Na brisevima ruku ispitanog osoblja utvrđena je statistički značajno viša (p < 0,05) učestalost prisustva ukupnog ACCs, koagulaza pozitivnih stafilokoka i enterobakterija iznad utvrđenih granica u odnosu na briseve uzete sa opreme ili radnih površina. Zaključak. Dobijeni rezultati pokazuju pravilnu primenu dobre higijenske prakse kada su u pitanju površine koje dolaze u kontakt s hranom, dok implementacija prakse dobre lične higijene zaposlenih zahteva pojačan nadzor

Intenziviranje procesa globalizacije svetske privrede tokom prethodnih nekoliko decenija odrazilo se i na poljoprivrede zemalja u razvoju, transformišući ih i integrišući u svetsku privredu. Globalizacija u sektoru poljoprivrede praćena je sve značajnijim stranim direktnih investicijama i jačanjem međunarodne trgovine poljoprivrednim proizvodima. Predmet ove doktorske disertacije je odnos priliva stranih direktnih investicija i izvoza ovog sektora u zemljama u razvoju. Osnovni cilj ove disertacije je davanje odgovora na istraživačko pitanje da li i na koji način strane direktne investicije u sektoru poljoprivrede zemalja u razvoju utiču na izvoz ovog sektora. Relevantna teorija međunarodne trgovine i transnacionalnih preduzeća ukazuje na oprečne zaključke u pogledu odnosa stranih direktnih investicija i izvoza u zemlji domaćinu. Ovi zaključci mogu se grupisati u dve osnovne hipoteze: hipotezu komplementarnosti i hipotezu supstitutivnosti. Kako se obe hipoteze ne mogu teorijski osporiti problem odnosa stranih direktnih investicija i izvoza u zemlji domaćinu svodi se na empirijsko pitanje. Međutim, rezultati dosadašnjih empirijskih istraživanja takođe ne ukazuju na jedinstvene zaključke u pogledu ovog problema. Na početku disertacije, razmotrena je dosadašnja relevantna teorijska i empirijska literatura. Empirijska istraživanja na makro nivou analizirana su primenom meta-regresione analize. Ovom analizom utvrđeni su razlozi varijacija rezultata u dosadašnjim empirijskim istraživanjima. Zatim su primenom metoda deskriptivne statistike opisane dosadašnje razmere globalizacije, kao i zastupljenost protekcionizma u sektorima poljoprivrede u svetu. Opisan je istorijat globalizacije poljoprivrede, pri čemu su sa posebnom pažnjom obrađeni problemi koji se odnose na promene do kojih je ovaj proces doveo u zemljama u razvoju, posebno u pogledu priliva stranog kapitala u njihove sektore poljoprivrede, većeg uključivanja ovih sektora u svetsku ekonomiju i promena vezanih za preh, The intensification of the globalisation of world economy over the past decades inter alia affected developing countries agricultures, transforming and integrating them in the world economy. The globalisation of agriculture is closely related to increasingly significant foreign direct investment in the sector and intensification of agricultural international trade. The subject of this doctoral thesis is the relationship between the inflows of foreign direct investment and exports of this sector in developing countries. The main aim of this thesis is to answer the research question if and how the foreign direct investment in developing countries’ agricultural sectors affect the exports of these sectors. The relevant theory of international trade and transnational enterprises suggests conflicting conclusions concerning the relationship between foreign direct investment and exports in the host country. These conclusions can be grouped into the two general hypotheses: the complementarity hypothesis and the substitution hypothesis. As neither of the hypotheses can be theoretically refuted, the problem of the relationship between foreign direct investment and exports in the host country reduces to the empirical one. However, the results of the existing empirical studies also do not offer a unanimous conclusion regarding this research problem. In the introductory parts of the thesis, the relevant theoretical and empirical literature was reviewed. The macro-level empirical studies were scrutinised using the meta-regression analysis. The analysis results revealed the factors behind the variation of the empirical results in the existing related literature. Additionally, descriptive statistical methods were applied in order to describe the extent of the globalisation, as well as the magnitude of protectionism in the world agriculture. The history of the agricultural globalisation was presented, with the focus on the problems related to the changes in developing countries that

Rad se bavi ispitivanjem problema integrisanog upravljanja vrednošću korporativnih preduzeća, analizom rezidualnog dobitka, identifikovanjem mogućnosti za integrisanje tehnika upravljanja performansama duž internog lanca vrednosti i lanca vrednosti industrije, empirijskim istraživanjem doprinosa poslovnih i finansijskih aktivnosti kreiranju vrednosti za akcionare u Jugoistočnoj Evropi, i ekonometrijskom analizom odnosa između P/BV multiplikatora, s jedne strane, i profitabilnosti, kvaliteta dobitka, rasta, rizika, dividende politike i finansijske pozicije preduzeća u Jugoistočnoj Evropi, s druge strane. U radu se nastoje proceniti informacioni dometi upravljačkog računovodstva na području pružanja podrške integrisanom upravljanju procesom kreiranja vrednosti. U važnije rezultate empirijskog istraživanja može se ubrojati zabeležena negativna veza između P/BV multiplikatora i rizika preduzeća, koja otvora put za korišćenje BV/MV multiplikatora kao faktora rizika u modeliranju troškova akcionarskog kapitala u Jugoistočnoj Evropi. Empirijski je pokazano da profitabilnija preduzeća ostvaruju veću tržišnu vrednost akcija, iz čega proizilazi značaj integrisanog upravljanja vrednošću, kao sistema povezanih upravljačkih tehnika za redukovanje troškova i poboljšanje ostalih finansijskih ili nefinansijskih aspekata korporativnih performansi. Među vrednijim rezultatima je i beleženje pozitivne veze između P/BV multiplikatora i rasta korporacija, koje upućuje na zaključak da se P/BV može koristiti kao merilo raspoloživog potencijala za rast korporacija u Jugoistočnoj Evropi, a time i kao kriterijum za razlikovanje akcija rasta od akcija vrednosti. Ovo razlikovanje akcija pomaže portfolio menadžerima investicionih i penzionih fondova u primeni određenih strategija investiranja., The paper examines the challenges of integrated value-based management, potentials of residual income analysis, and opportunities to integrate various techniques for performance management along the internal value chain and the industry value chain. It also provides empirical research into the contribution of operating and financing activities to shareholder value creation in Southeast Europe, and econometric analysis of relationship between P/BV multiple, on the one hand, and profitability, earnings quality, growth, risk, dividend policy, and financial position of corporations in Southeast Europe, on the other hand. The paper is trying to assess the information scope and reach of management accounting in supporting integrated value-based management. An important result of empirical research is the observed negative relationship between P/BV multiple and stock risk, which justifies the use of BV/MV multiple as a risk factor in modeling the cost of equity in Southeast Europe. Empirically, it has been shown that more profitable corporations achieve higher market valuations and that underlines the importance of integrated value-based management as a system of interrelated management techniques for cost reduction and improvement of other financial and nonfinancial aspects of corporate performance. Among the more valuable results is a positive relationship between P/BV multiple and earnings growth. This finding indicates that P/BV can be used as a measure of the growth potential of corporations in Southeast Europe, and thus as a criterion for distinguishing between growth stocks and value stocks, helping investment and pension fund managers in pursuing certain investment styles and strategies.

The aim of this study was to determine relationships between final mass of broilers and the histomorphological properties of individual segments of the gastrointestinal tract. This is confirmed by the obtained results, which indicate a strong and significant correlation between compared parameters. A strong significant (p<0.05) correlation (r=0.866) was found between the broiler final weight and the duodenal villus length, and between the broiler final weight and the caecal villus length (r=0.918). Correlation between the broiler final weight and the duodenal villus width (r=0.841), as well the caecal villi width (r=0.918) was strongly significant (p<0.05). Between the crypt depths in caecum correlation was medium and significant (r=0.701, p<0.05). It was determined that between the broiler final weights and the ratio of villus length and crypt depth there is a significant medium correlation (r = 0.736, p<0.05). A strong (r = 0.924) significant (p <0.05) correlation was found between the broiler final weight and the ratio of villus length and caecal crypt depth. Between final mass of broilers and other histomorphological properties of individual segments of intestine there was no significant correlation.

Given the fact that the law on animal feed in Serbia has long been expected and that the current Regulation on the quality of animal feed, which includes microbiological criteria, requires improvement over the years, it is time to choose the best new solutions. The recommendable change that would bring the categorization of animal feed according to more objective and comprehensive criteria is based on the use of the VDLUFA (Verbands Deutscher Landwirdschaftlicher Untersuchungs und Forschungsanstalten) method. In several European countries, it has become routine, due to the great interest of feed producers and animal breeders in good knowledge of microbiological quality of feed as a guarantee of a wholesome final product. It involves determination of the contents of moulds, yeasts and bacteria while taking into account their potential pathogenicity. Based on the number of microorganisms, divided into seven groups, feed and feedingstuffs are classified into four categories. Classes I to III can be placed on the market, while class IV is not suitable for animal nutrition. More precise, regular determination of microorganisms would also provide a better insight into other common feed-born problems, such as, for instance, the possibility of mycotoxin occurrence.

Selection of optimal hybrid of Pekin duck and housing system could improve yield and quality of duck meat. The aim of this study was to investigate the effects of two rearing systems (intensive vs semi-intensive housing) on growth performance, carcass quality, and selected physical meat quality traits of two commercial strains of Pekin ducks. The study was performed on 240 one-day-old Pekin ducklings of two different strains (120 ducklings of STAR 53 medium hybrid and 120 ducklings of SM3 heavy hybrid) during a 49-day period. Half the birds (120) were reared in a complete confinement system on a floor (intensive system), while the remaining 120 ducks had access to land outside (semi-intensive system). Growth performance of ducks was determined by BW, weight gain, feed intake, and feed conversion ratio (FCR), carcass quality by dressing percentage, percentage of basic cuts in carcasses, and content of various tissues in basic cuts, while meat quality was determined by pH, drip loss, cooking loss, Warner-Bratzler shear force, and color (L*, a*, and b*) values. At the end of the study, SM3 heavy hybrid and STAR 53 hybrid Pekin ducks achieved similar BWs. Higher final BW and lower overall FCR were found in ducks reared in the intensive system than in ducks kept in the semi-intensive system. Higher dressing percentage, weight and percentage of breast, but also a lower percentage of back with pelvis in the carcasses were determined in SM3 hybrid ducks than in STAR 53 hybrid ducks. The strain of duck did not affect meat pH, drip loss, or L* color value. Moreover, housing system affected the physical meat quality of the ducks, since breasts from ducks reared in the semi-intensive system had higher initial meat pH, higher percentage of EZ-drip loss and cooking loss, and higher L*, a*, and b* values than did breasts from intensively-reared ducks. In conclusion, SM3 ducks were more suited for broiler production due to their better carcass quality than STAR 53 ducks. Furthermor

Предмет ове докторске дисертације је теоријска и емпиријска анализа утицаја инвестиција у саобраћајну инфраструктуру на привредни раст европских земаља. Најпре је дефинисан обухват саобраћајне инфраструктуре по различитим врстама, размотрени су проблеми мерења инвестиција у саобраћајну инфраструктуру и анализиран је њихов економски значај, као и могући извори и модалитети финансирања ових инвестиција..., The subject of this doctoral dissertation is a theoretical and empirical analysis of the impact of transport infrastructure investment on economic growth of European countries. Firstly, it defines the coverage of transport infrastructure by various types thereof, discusses the problems of measuring transport infrastructure investments and analyzes their economic importance, as well as the possible sources and modalities of financing these investments...

U teoriji i praksi menadžmenta dominira stav da je intelektualni kapital osnov konkurentske prednosti u ekonomiji znanja. Međutim, merenje efekata ulaganja u intelektualne resurse nije jednostavno i profesionalna regulativa ne uspeva da odgovori izazovima finansijskog izveštavanja na ovom području. Nosioci odgovornosti u procesu finansijskog izveštavanja treba da budu upoznati sa alternativama koje su im u ovom domenu na raspolaganju. U tom kontekstu obelodanjivanje kao segment finansijskog izveštavanja sve više dobija na značaju, pogotovo što je verodostojna prezentacija izbila na vrh hijerarhije zahtevanih kvalitativnih karakteristika računovodstvenih informacija. Informisanje javnosti o korišćenim pretpostavkama i metodama merenja vrednosti intelektualnih resursa bitno je i u sagledavanju značaja ovih resursa u kreiranju sadašnjih i budućih performansi izveštajnih entiteta. Značajan deo disertacije upravo je zbog toga posvećen problematici vrednovanja intelektualnih resursa. U razvijenim privredama bankarsko poslovanje je znanjem intenzivna delatnost koja se odvija u izrazito konkurentskom poslovnom okruženju. Efikasna interakcija ljudskog, strukturnog i relacionog kapitala je ključna za uspešnu realizaciju definisane strategije poslovnih banaka, kao i za njihov opstanak i rast. Prethodna istraživanja su pokazala da navedeni zaključak nije u potpunosti primenjiv na banke koje posluju u privredama koje su po karakteristikama i stepenu razvijenosti slične srpskoj, te da one svoje performanse i dalje pretežno baziraju na fizičkom i finansijskom kapitalu. Cilj empirijskog istraživanja u ovoj disertaciji, sprovedenog ekonometrijskom analizom podataka iz finansijskih izveštaja, jeste da se sagleda uticaj efikasne upotrebe intelektualnog kapitala i njegovih komponenti na finansijske performanse poslovnih banaka u Srbiji. U tu svrhu primenjena je metodologija Koeficijenta dodate vrednosti intelektualnog kapitala (Value Added Intellectual Coefficient - VAIC). U istraživan, In the theory and practice of management the opinion prevails that intellectual capital is the basis of competitive advantage in the knowledge economy. However, measuring the effects of investments in intellectual resources is not straightforward and professional regulation fails to respond to challenges of financial reporting in this area. In the financial reporting process responsible persons should be familiar with the available alternatives in this domain. In this regard, disclosure as a segment of financial reporting is increasingly gaining in significance, especially since fair presentation has become the most important among the required qualitative characteristics of accounting information. Providing information on the assumptions and methods of intellectual asset valuation employed is key to understanding the importance of these resources in creating current and future performance of reporting entities. That is why a significant part of this dissertation is dedicated to the valuation of intellectual resources. In developed economies banking is a knowledge-intensive activity that is carried out in a highly competitive business environment. An effective interaction between human, structural and relational capital is crucial for the successful implementation of commercial banks’ defined strategy, as well as for their survival and growth. Previous research has shown that this conclusion may not apply to banks operating in economies that are similar in characteristics and the level of development to the Serbian economy. These banks continue to base their performance predominantly on physical and financial capital. The aim of empirical research in this dissertation, which was carried out using econometric analysis based on financial statement data, was to analyze the impact of the efficient use of intellectual capital and its components on the financial performance of commercial banks in Serbia. For this purpose the Value Added Intellectual Coefficient (VAIC) met

Visok spoljnotrgovinski deficit predstavlja najveći izazov za eksternu ravnotežu. Velik broj zemalja se suočava sa rastućom divergencijom trgovinskih tokova i uravnotežen tekući bilans se pre može smatrati kao retkost, nego kao pravilo u ekonomskoj praksi. Nakon izbijanja globalne finansijske i ekonomske krize, nejednakosti zemalja u pogledu kretanja tekućeg računa su postale sve intenzivnije. Jedna od značajnijih implikacija datih trendova jeste perzistentna eksterna neravnoteža koja varira u zavisnosti od meĎunarodne pozicije zemlje, trgovinske otvorenosti, unutrašnjih performansi i sposobnosti da se apsorbuju različiti eksterni šokovi. U tom smislu, predmet istraživanja doktorske disertacije odnosi se na analizu perzistentnosti i ispitivanje divergentnih trendova tekućeg računa u članicama Evropske unije u periodu 1995-2015. godine. Ideja je da se primenom panel tehnika ispita uticaj pojedinačnih faktora na trgovinsku neravnotežu i, konačno, oceni stepen perzistentnosti tekućeg računa. Prevashodno, upotrebljeni su dinamički modeli panela kako bi se ocenio uticaj odabranih determinanti na kretanje tekućeg računa u zemalja članicama Evropske unije u periodu 1995-2015. godine, sa ciljem provere prve hipoteze koja podrazumeva ispitivanje stepena perzistentnosti tekućeg računa. Nakon toga, imajući u vidu značaj održivosti tekućeg računa u dugom roku, prilikom analize determinanti tekućeg računa izvršena je podela na strukturne i ciklične komponente, što je značajno sa aspekta sagledavanja prirode eksterne neravnoteže. Za potrebe analize uticaja strukturnih faktora na dinamiku tekućeg računa u srednjem roku formirani su petogodišnji proseci podataka, dok je ocena cikličnih determinanti sprovedena na podacima koji predstavljaju jednogodišnja odstupanja od petogodišnjih proseka. Rezultati primene uopštenog metoda momenata i metoda kvazi maksimalne verodostojnosti ukazali su da su saldo bilansa tekućih transakcija u zemljama Evropske unije u velikoj meri odredili sledeći, The high current account deficit is the biggest challenge for the external balance. A large number of countries are facing with a growing current account divergence and a balanced current account is considered more as a rarity than as a rule in economic practice. After the outbreak of the global financial and economic crisis, inequality between countries in terms of the current account developments has become more intense. One of the major implications of this trends is persistent external imbalance, which varies depending on the international position of the country, trade openness, internal performance and the ability of the country to absorb various external shocks. To this end, the purpose of a doctoral dissertation is related to the analysis of the persistence and divergent trends in the current account in the Member States of the European Union during the period 1995-2015. The idea is to examine the impact of individual factors on the trade imbalance by using panel data econometric methods, as well as to estimate the degree of persistence of the current account. Primarily, dynamic panel models are used in order to assess the impact of selected determinants on the current account movement in the Member States of the European Union during the period 1995-2015, with the aim of testing the first hypothesis which involves the examination of the degree of the current account persistence. After that, given the importance of current account sustainability in the long run, current account determinants are divided into structural and cyclic components, which is important in terms of assessing the nature of external imbalances. Five-year averages of data are formed for the analysis of the impact of structural factors on the dynamics of the current account in the medium term, while the estimation of impact of cyclical determinants was carried out on data which represent annual deviations from the five-year averages. Estimation results of dynamic panel data models obtained

Although sodium is an essential nutrient, conclusive scientific evidence suggests the association between excessive salt intake and various negative health outcomes. One of the health consequences with the greatest public health impact is the increase in population blood pressure with a consequent increase of cardiovascular disease risk. There is ample evidence linking high salt intake with other health outcomes: stomach cancer, impaired renal function, osteoporosis, obesity, severity of asthma, but also with novel health risks established with advanced molecular and metagenomics technology: autoimmunity, immunity in various organs and systems. Some recent studies have reported that a high salt diet modulates the gut microbiome, interacting with both the hosts gastrointestinal tract environment and its genome and metabolism. The newest evidence indicates possible novel pathophysiological mechanisms of obesity, including high fasting ghrelin in healthy individuals consuming a high-salt diet, as well as endogenous fructose production and leptin resistance in mice. This revealing new evidence links high salt intake with obesity and consequently, with further metabolic complications. As a country with high prevalences of obesity and hypertension, and high salt intake, Serbia would greatly benefit from adopting and implementing a national sodium reduction program that minimize risks through education, regulation, and enforcement.

Only healthy animals can expect good production results. Gastrointestinal tract (GIT) health is of particular importance in broilers. GIT health has been protected by antibiotics as growth promoters for years. Since their use is forbidden, alternatives are required. One alternative is the use of medium chain fatty acid (MCFA) in broiler nutrition, in order to ensure the health of digestive tract, that is, prevent the activity of pathogenic bacteria, coccidias and viruses. Today, commercial MCFA supplement is used on the market in nutrition of broilers and piglets. Previous experiences of using MCFA in nutrition of broilers suggest that MCFA can be used as a substitute for antibiotics. In the duodenum of experimental broilers (a group of birds fed with added MCFA), the numbers of Enterococcus spp. and E. coli were significantly correlated with bird weight, but this was not the case in other intestinal segments (ileum or caecum).

Утицај концепта погодности на раст руралне економије је релативно новија тема у међународној академској јавности која све више заокупља пажњу. Са економским растом и развојем квалитет руралног амбијента постаје све значајнији фактор обликовања миграционих кретања становништва на релацији урбане – руралне области. Концепт руралних погодности чине природне, изграђене и културне погодности које имају комплементарну улогу у руралном расту и развоју. Рурални пољопривредни пејзажи се вреднују не само с обзиром на њихове могућности за производњу различитих пољопривредних производа, већ и са становишта могућности обезбеђења руралних еколошких јавних добара. Природне погодности и други квалитети локалног амбијента који унапређују услове за живот идентификовани су као кључни фактори раста становништва, дохотка и запослености у руралним подручјима. Предмет научно-истраживачког рада у оквиру докторске дисертације је анализа утицаја погодности амбијента и предузетништва на рурални развој, са посебним освртом на Србију. Унапређење квалитета људског капитала и раст предузетничких активности у моделима раста руралне привреде може се посматрати као један од могућих механизама трансформације, раста и развоја руралне економије. Основни циљеви научно-истраживачког рада у оквиру докторске дисертације су везани за класификацију руралних области у Србији са становишта расположивих погодности амбијента и анализу утицаја концепта људског капитала и предузетништва на економски раст руралних подручја у нашој земљи., The impact of the concept of rural amenities on the growth and development of rural economy is a relatively recent topic which has been gaining more and more attention. Along with the economic growth and development the quality of the rural environment becomes an increasingly important factor in shaping the migration trends of the population between the urban and rural areas. The concept of rural amenities comprises the natural, built and cultural amenities that have a complementary role in rural growth and development. Rural agricultural landscapes are valued not only because of their ability to produce different agricultural outputs, but also because they can become rural ecological public goods. Natural amenities and other qualities of a local environment that improve living conditions have been identified as key factors for the growth of rural population, income and employment. The subject of research in the current doctoral dissertation is an analysis of the impact of the rural amenities and entrepreneurship on rural development, with a special emphasis on Serbia. Improving the quality of human capital and the growth of entrepreneurial activities in the models of rural economy growth can be seen as one of the possible mechanisms of transformation, growth and development of rural economy. The basic goals of research in the current doctoral dissertation are connected with the classification of rural areas in Serbia with respect to outdoor amenities and the analysis of the influence of the concept of human capital and entrepreneurship on the economic growth of rural areas in our country. In the developed economies, rural amenities have the power to attract significant human and entrepreneurial capital necessary for the development of rural economy. Rural areas with a higher share of human capital will have better economic performance due to innovations, high level of entrepreneurship and creative forms of businesses. Rural areas with high outdoor amenities attract

Predmet razmatranja u doktorskoj disertaciji jesu rodne razlike u zaradama i sklonost izbora više od jednog posla, kao prakse tržišta rada koje postaju naročito vidljive u prvim godinama tranzicije. Ove prakse su karakteristične za sve privredne sisteme, a ne samo za zemlje u tranziciji. Međutim, njihov obim i struktura variraju u zavisnosti od dinamike prilagođavanja faktora koji utiču na funkcionisanje tržišta rada. Stoga je praćenje ovih praksi važno, budući da mogu imati šire implikacije na socijalnu i ekonomsku politiku zemalja u tranziciji. Njihova analiza u doktorskoj disertaciji odnosi se na period intenziviranja procesa privatizacije u Srbiji sa početka 2000-ih godina i završava se periodom kada su počeli da se uočavaju prvi pozitivni efekti strukturnih reformi koji su zatim usporeni ekonomskom krizom iz 2008. godine. Testirane su dve osnovne istraživačke hipoteze: (i) da li postoje statistički značajne razlike u zaradama između muškaraca i žena i da li se te razlike jednim delom mogu objasniti uticajem diskriminacione prakse u određivanju zarada, (ii) kao i da li sklonost izbora više od jednog posla zavisi od zarade i časova rada na osnovnom poslu, očekivane zarade od dodatnog zaposlenja, te od ostalih determinanti koje utiču na odluku pojedinca da se istovremeno angažuje na više poslova. Obe hipoteze su empirijski potvrđene. Informacionu osnovu čine podaci Ankete o životnom standardu na bazi koje je formirana serija panel podataka za 2002. i 2003. godinu, kao i serija uporednih podataka za 2007. godinu. Polazeći od činjenice da se stope aktivnosti i zaposlenosti muškaraca i žena značajno razlikuju, rodni jaz u zaradama je posmatran uzimajući u obzir selekciju zaposlenih u sektor zarada. Rodni jaz je najpre izračunat na bazi modela izbora podataka za uporedne podatke ocenjenog metodom maksimalne verodostojnosti. Prema ovom metodu, ocenjeni rodni jaz se smanjio sa 10,96% na 5,97% tokom posmatranog perioda. U drugom koraku, rodni jaz je ocenjen na bazi polup, Doctoral dissertation considers gender wage differences and the propensity to hold multiple jobs as practices of the labour market that become especially visible during the first years of the transition to a market economy. These practices are characteristic of all the economic systems not only in transition economies. However, their scope and structure vary depending on the dynamics of adjustment of the factors influencing the functioning of the labour market. These practices may affect the social and economic policies of the transition countries and therefore monitoring them becomes important. Their analysis in this doctoral dissertation refers to the period of intensification of the privatization process of the early 2000s in Serbia and ends with a period when the first positive effects of structural reforms began to be perceived, which were then slowed down by the economic crisis of 2008. Two principal research hypotheses are examined: (i) are there statistically significant wage differences between men and women and can this difference be partly explained by an influence of discriminatory practice in wage determination; (ii) does the propensity to hold more than one job depend on primary job wages and hours of work, expected wages from a second job, as well as on other determinants that may affect individuals’ decisions to be engaged in more than one job simultaneously. Both hypotheses are empirically confirmed. The data are taken from the Living standards measurement survey, based on which a panel sample for 2002 and 2003, as well as a cross-section data set for 2007 were created. Since both the employment and participation rates of men and women differ substantially, the gender wage gap is examined taking into account the correction for sample selection bias of those who choose the employment in the wage sector. The gender wage gap is initially computed by using the maximum likelihood estimation of the sample selection model for cross-section data. According

Дознаке из иностранства представљају део дохотка који емигранти шаљу породици, рођацима, пријатељима у матичној земљи. Њихова величина непосредно је повезана са облицима и структуром миграционих кретања. Раст заступљености привремених и циркуларних миграција радника насупрот трајним миграцијама доприноси повећању прилива дознака. Упоредо са повећањем обима дознака расте и њихов макроекономски и микроекономски значај. За већину земаља у развоју са обимним емиграционим токовима, дознаке из иностранства представљају значајан и релативно стабилан извор спољног финансирања привреде који обезбеђује одржавање платнобилансне равнотеже. У односу на токове страних директних инвестиција и портфолио инвестиција дознаке показују нижу волатилност, односно знатно мање реагују на макроекономске шокове. Цикличан карактер дознака у односу на кретање БДП-а земље пријема одређен је мотивима слања дознака. У земљама ниског дохотка, у којима преовлађују алтруистички мотиви слања, дознаке показују контрациклични карактер, док се процикличност дознака у односу на БДП земље пријема везује за изражено присуство инвестиционих мотива. За домаћинства примаоце, дознаке представљају значајан извор додатног дохотка који омогућава већу потрошњу, виши животни стандард, обезбеђење образовања и здравствених услуга за чланове, што је резултат присуства алтруистичких мотива емиграната. Склоност слању дознака одређена је бројним социо-демографским карактеристикама емиграната, као и степеном њихове друштвене и емотивне повезаности са емиграционом земљом. Већа вероватноћа слања дознака присутна је код емиграната чији супружник, деца или родитељи живе у матичној земљи, као и код оних који планирају повратак, инвестирање и/или имају интензивне друштвене контакте са особама у матичној земљи. Подстицање привремених и циркуларних миграција доприноси расту прилива дознака, док програми сједињавања породица имиграната и ii добијања држављанства, као и дужи период рада у иностранству воде асимилацији и већој интег, Remittances represent a part of an income the emigrants send to their families, relatives, friends living in the home country. Their size is directly connected with forms and structure of migrations. The growth of temporary and circular labour migration flows, as opposed to the permanent migration, contributes to the remittance inflows increasing. Along with the remittances volume increasing, their macroeconomic and microeconomic importance grows too. For the most developing countries with large emigration flows, remittances represent a substantial and relatively stable source of external financing of economy, providing in this way the balance of payments maintenance. Comparing with the foreign direct investments and portfolio investments, remittances show lower volatility i.e. they react significantly less to macroeconomic shocks. Remittance cyclical properties, in relation to the GDP of the receiving country, have been determined with the motives of sending remittances. In the low income countries where prevail altruistic motives of sending, remittances are countercyclical, while procyclicality of remittances, in relation to the GDP of receiving countries, has been connected with prevailing presence of investment motives. For the remittance receiving households, remittances represent a substantial source of additional income providing a higher consumption, higher standard of living, education and health care services for the members – showing the emigrants altruistic motives. Their tendency to send remittances has been determined with a number of socio-demographic characteristics of the emigrants, as well as with a degree of their social and emotional connection with emigration country. The emigrants whose spouse, children or parents live in the home country as well as those who plan to return, to invest and/or have more intensive social contacts with the persons in their home country, have a higher likelihood for sending the remittances. The incitement of tempora

Predmet istraživanja ove disertacije je struktura finansiranja najvećih preduzeća u Srbiji u periodu globalne ekonomske krize koja je započela 2008. godine, u literaturi poznate kao „Velika recesija“. Uzorak čini 186 najvećih preduzeća u Srbiji prema kriterijumu visine poslovnih prihoda, a vremenski horizont posmatranja obuhvata period od 2008-2014. godine. Polazište u istraživanju predstavlja analiza makroekonomskog konteksta poslovanja u Srbiji i analiza finansijskih performansi preduzeća na nivou privrede, po sektorima i veličini preduzeća (velika, srednja i mala). Za razliku od analize privrede koja je bazirana na agregiranim finansijskim izveštajima, analiza preduzeća iz uzorka vršena je na bazi agregiranih i pojedinačnih finansijskih izveštaja, što je omogućilo da se napravi jasna distinkcija između profitabilnih i neprofitabilnih, zaduženih i prezaduženih, preduzeća koja rastu i onih u kontrakciji. Rezultati analize ukazuju na promene u kretanju nivoa zaduženosti i strukturi obaveza, efekte finansijskog leveridža, trend u kretanju likvidnosti i rizika bankrotstva najvećih preduzeća u Srbiji. U cilju identifikovanja ključnih determinanti strukture finansiranja posmatranih preduzeća, testirana su tri modela finansijskog leveridža (ukupni, kratkoročni i dugoročni) primenom ekonometrijskih modela panela (modeli fiksnih individualnih efekata). Takođe, u radu je identifikovan segment preduzeća najvećeg stepena vajabiliteta, iz kojeg je odabrano reprezentativno preduzeće na kojem je analiziran odnos međuzavisnosti strategije preduzeća i strukture finansiranja. Konačno, na bazi rezultata dobijenih u empirijskom delu, u radu su date preporuke za finansijsko restrukturiranje i poslovnu strategiju preduzeća iz uzorka., The subject of this dissertation is the financial structure of the largest enterprises in Serbia during the period of the global economic crisis that started in 2008, in literature also known as the Great Recession. The research sample comprises 186 largest enterprises in Serbia according to the amount of operating revenues in the period of 2008-2014. Empirical research starts with the analysis of macroeconomic business context in Serbia as well as the analysis of financial performances of enterprises at the level of the economy as a whole, sectoral level and the level of large, medium and small enterprises. While the analysis at the level of economy was based on aggregated financial statements, the analysis of the sampled enterprises was performed on the basis of aggregated as well as individual financial statements. This approach allowed for a clear distinction between profitable and unprofitable, indebted and over-indebted as well as enterprises in growth or in contraction. The results of the analysis indicate the changes in the level of indebtedness and the structure of liabilities, the effects of financial leverage, the trends in liquidity and the risk of bankruptcy of the largest enterprises in Serbia. In order to identify the key determinants of the financial structure of the sampled enterprises, three models of financial leverage were tested (total, short-term and long-term) using panel data fixed effects models. Additionally, the segment of enterprises with the highest level of viability was identified, from which a representative enterprise was selected in order to analyze the interdependence between the enterprise strategy and financial structure. Finally, on the basis of the results obtained in the empirical work, the dissertation offers recommendations for the financial restructuring and business strategy of sampled enterprises.