Ekonomija - teorija i praksa 2024-02-28T09:29:40+00:00 Phd. Marko Carić [email protected] Open Journal Systems <p>The journal is published continuously since 2008, first under the name: “Zbornik radova” (ISSN: 1820-9165), and since 2011 under the name “Economics – Theory and Practice“. The first issue was published in 2008, and in 2009 and 2010 two issues were published (the total number of published issues under the name: “Zbornik radova” was five, considering the fact that the journal was then published twice a year). In April 2011 the name of the journal changed into “Economics – Theory and Practice“ and the decision was made that it is going to be published quarterly. Articles are published both in Serbian and English language, and the thematic areas are various, ranging from the economic theory and its application in practice to management and marketing, with an emphasis on competent and yet anonimous peer review for respective areas. All issues of both “Zbornik radova” and “Economics – Theory and Practice“ are kept in the Archive of the National Library of Serbia. . High visibility of papers published in the academic journal “Economics: Theory and Practice” has been permanently provided using the Science Citation Index and further enhanced by automatic re-indexation of metadata into DOAJ (the Directory of Open Access Journals) and full text in Google Scholar.</p> <p>Publishing of this academic journal, “Economics – Theory and Practice“, aims at stimulating resarch, attracting a large number of researchers and academics, as well as a large number of readers and subsrcibers. For the past years, the editorial office of the journal has been dedicated to the continuous improvement of the quality of the journal. Our main mission has been to invite and gather our graduates around this journal and engaging them in more active international scientific and research work. In this way, our journal indirectly but significantly contibutes to the scientific achievements of our country. This type of a journal is completely in accordance with our accredited study programs at all three levels of studies and also the accredited scientific field.</p> <p>The academic journal "Economics - Theory and Practice" has been categorized by the Committee for Economic Sciences of the Ministry of Science, Education and Technological Development of the Republic of Serbia as M51.</p> The impact of macroeconomic factors on the capital market of the Republic of Serbia 2024-02-28T08:56:00+00:00 Vesna Marić [email protected] Svetlana Ignjatijević [email protected] <p>In the study, the impact of five macroeconomic factors on the capital market of the Republic of Serbia was explored. The focus was on factors that have been identified as significant for the development of the capital market but with differing opinions regarding their direction of influence. Specifically, the focus was on GDP, inflation, money supply, interest rate, and exchange rate. The research results indicate that the Belex15 index does not show long-term cointegration with GDP, IPC (inflation), and M3 (money supply). However, there is a significant influence of previous interest rate values and the exchange rate on the capital market of the Republic of Serbia. More precisely, there is a positive impact on interest rates and a negative impact on the exchange rate.</p> 2023-12-30T00:00:00+00:00 Copyright (c) 2024 The quality of gastronomic manifestations in strengthening tourist destination brand equity: A case study of Vojvodina 2024-02-28T09:03:40+00:00 Slobodan Čavić [email protected] Nikola Ćurčić [email protected] Nikola Radivojević [email protected] <p>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.</p> 2023-12-30T00:00:00+00:00 Copyright (c) 2024 Selection of optimal central processing unit using the PSI method 2024-02-28T09:08:12+00:00 Đorđe Pucar [email protected] <p>Modern business strongly relies on the use of information and communication technologies. So, choosing the right technical equipment is extremely important because the right one influences the timely execution of business tasks. Various conflicting criteria impact the decision about equipment selection which justifies the application of Multiple-Criteria Decision-Making (MCDM) as a convenient tool for the optimization of this kind of decision process. This paper proposes the application of the Preference Selection Index (PSI) method to settle the appropriate processing unit (CPU). Five alternative CPUs are compared against four criteria which include: core numbers, virtual cores (threads), operating frequency, and price. The results that came from using the PSI method favor the CPU3 - AMD Ryzen 5 5600 as the most compatible for the end-user in the present case. The obtained results proved the applicability of the PSI method because it facilitated the decision process and define the best solution regarding the given conditions.</p> 2023-12-30T00:00:00+00:00 Copyright (c) 2024 Influence of job satisfaction on employee organizational commitment in Serbian companies 2024-02-28T09:11:21+00:00 Milena Cvjetković [email protected] Milovan Cvjetković [email protected] <p>This paper presents research aimed at assessing the impact of job satisfaction on employee's organizational commitment. The study involved a sample of 248 employees in Serbian companies. Correlation analysis revealed a statistically strong and significant relationship between job satisfaction and organizational commitment variables. Regression analysis identified that the nature of work and supervision variables made the most significant individual contributions to achieving organizational commitment. The T-test of independent samples on job satisfaction indicated a statistically significant difference in mean values concerning employee satisfaction based on years of service. The research findings offer insights for enhancing employee job satisfaction, consequently fostering organizational commitment, leading to increased engagement and improved work performance.</p> 2023-12-30T00:00:00+00:00 Copyright (c) 2024 Influencing factors on consumer behavior when purchasing apples 2024-02-28T09:14:37+00:00 Radivoj Prodanović [email protected] Ljiljana Dimitrijević [email protected] Elqadini Mohamad El Bashir R. [email protected] Dragan Ivanišević [email protected] <p>The aim of the study is to identify factors influencing consumer behavior when purchasing apples of different origins, in order to leverage them for promoting a preference for domestic production in marketing communications. Secondary research involves an analysis of relevant scientific and expert literature. Primary research was conducted using a quantitative method. For this purpose, a questionnaire was designed and distributed to consumers. The results indicate that domestic consumers prefer apples, as two-thirds of the respondents buy apples 1 to 3 times a week. Apples are most commonly purchased in large supermarkets and markets. Taste, freshness, impact on health, product quality, and origin are considered the most important factors influencing the decision to buy apples. Price, the presence of an organic certificate, as well as the desire to support local producers, have varying effects on consumers. Consumers who prefer imported apples often cite their better availability and appearance. Domestic consumers often lack sufficient knowledge about different apple varieties, and their choice is often made on the spot or the variety is not crucial in their purchase decision. It is possible to increase the share of domestic apples in the overall market realization primarily by raising awareness and highlighting the advantages of domestic apples. Similarly, improving availability in supermarkets and diversifying the assortment would deter a portion of consumers from choosing imported apples. These conclusions provide a basis for further consideration of strategies that could support domestic apple production within the consumer market.</p> 2023-12-30T00:00:00+00:00 Copyright (c) 2024 Analysis of employee costs in the distributive trade of Bosnia and Herzegovina 2024-02-28T09:27:33+00:00 Fatima Ribić [email protected] <p>Distributive trade includes all forms of trading activities. It begins with the procurement of goods from the manufacturer, and ends with the sale of goods to the final consumer. In Bosnia and Herzegovina, it represents one of the most important economic sectors. Thispaper investigates changes in personnel costs within the distribution trade sector in Bosnia and Herzegovina. Initially, it introduces fundamental concepts related to distributive tradeand personnel costs. After that, an analysis of personnel costs in the distribution trade sector in Bosnia and Herzegovina is conducted. This includes an examination of changes in personnel costs based on the size of business entities and an analysis of personnel costs in subsectors of distribution trade. Research findings reveal a consistent increase in personnel costs within the distribution trade sector in Bosnia and Herzegovina from 2016 to 2021. They also highlight a slower growth of personnel costs per employed person in small businesses compared to the overall sector. Concerning the sub-sectors of distribution trade in Bosnia and Herzegovina, the research indicates that wholesale trade demonstrates significantly higher personnel costs per employed person compared to the other two sub-sectors and the overall distribution trade. Additionally, the analysis involves a comparison of personnel costs in distribution trade in Bosnia and Herzegovina with other countries in the region. The findings suggest that personnel costs per employed person in the distribution trade sector in Bosnia and Herzegovina exhibit the lowest growth among the analyzed countries in the region.</p> 2023-12-30T00:00:00+00:00 Copyright (c) 2024 The impact of ERP system implementation on the development of modern economic flows in the company 2024-02-28T09:29:40+00:00 Marijana Živković [email protected] Srđan Maričić [email protected] <p>The accelerated development of information and communication technologies (ICT), from the end of the 20th century until today, has made a great contribution to all segments of social life, and a significant part of this contribution is the impact on modern economic trends. New forms of business, such as digital marketing, electronic banking, and the web market, have confirmed old and set new theoretical postulates in economic science as well, although there are still disagreements at the global level regarding the intertwining of the understanding of traditional economic flows and terms with newly introduced economic flows and terms. ERP (Enterprise Resource Planning) basically represents a business information system, i.e., a set of commercial software packages for small, medium, and large companies.The subject of research in this paper is the analysis of the ERP system project in JKP Gradska čistoća in Belgrade, done with the aim of encompassing and describing the company's business processes, identifying problems and proposing a solution with other information important for further steps.The goal of the research work is the analysis of business processes, implemented software, and possible suggestions for improvement through the implementation of new technologies and solutions and integration between different systems, which would eliminate problems that complicate the development of business processes and reduce the efficiency of the organization.Basic hypothesis of the work: The implementation of the ERP system has a significant impact on the development of modern economic flows in a company such as PUK Gradska čistoća in Belgrade. Research methodology and main results: The project included business processes and areas for which the ERP system can be responsible: operational, landfill and recycling, legal personnel affairs, economic sector, commercial sector, maintenance, and level of the enterprise and other services in the enterprise. During the research, the authors used analysis and synthesis methods, classification methods, comparison methods, and statistical methods. The main research results of this work are presented in the chapter "Research Results".</p> 2023-12-30T00:00:00+00:00 Copyright (c) 2024 Legal and professional accounting regulations as strategic components of financial reporting quality 2024-02-28T09:19:14+00:00 Danijela Anđelković [email protected] Vesna Petrović [email protected] Ana Liberakos [email protected] <p>The basic aim of the research in this paper is to answer the question of whether the financial statements defined by the legislation in the Republic of Serbia, based on the IASB IAS/IFRS project implementation, could be comparable with the EU financial statements in terms of quality. The main reason for this research is to point out the necessity of including other international accounting regulations, such as EU Directive 34, for financial reporting harmonization and standardization needs. The research results show that the existing legal accounting regulations implementation defined by the IFRS has become the limiting factor for financial reporting quality. Additionally, the research results indicate the need to overcome the existing concept of technically oriented accounting and consider a broader, more completely expressed power of financial reporting that includes other non-financial determinants. In order to reach the set aim, the methodology used in this paper includes qualitative research based on secondary data sources. On that basis, the first part of the paper provides an indicator analysis that illustrates the existing financial reporting quality situation as a result of legal and professional accounting regulations implementation in the Republic of Serbia. In the second part of the paper, based on the research results, we provide suggestions for improving accounting regulations for financial reporting quality needs.</p> 2023-12-30T00:00:00+00:00 Copyright (c) 2024 Income tax and income tax evasion in selected countries 2024-02-28T09:23:52+00:00 Nikola Kovinić [email protected] <p>Profit tax is a direct tax paid by all countries in the world, and it holds a great importance because it represents a very important source of public revenue. Taxpayers fulfill their income tax obligations by submitting tax returns for specific periods. However, with the establishment of taxes, the issue of tax evasion arises, posing challenges to public service financing. This paper aims to examine the amount and collection methods of profit tax in the USA, European OECD countries, the Republic of Croatia, and the Republic of Serbia. Additionally, it highlights the adverse effects of tax avoidance by taxpayers in the examined countries. The paper employs exploratory and classification methods to identify current trends in income tax and the prevalence of tax evasion. The research reveals significant variations in profit tax rates among the analyzed countries and differences in its contribution to total tax revenue. Furthermore, all observed countries are making great efforts to suppress evasion, which causes great damage to the economy.</p> 2023-12-30T00:00:00+00:00 Copyright (c) 2024