8th International Scientific-Business Conference LIMEN 2022 - Leadership, Innovation, Management and Economics: Integrated Politics of Research CONFERENCE PROCEEDINGS, Budapest, Hungary, December 1, 2022

8th International Scientific-Business Conference LIMEN 2022 - Leadership, Innovation, Management and Economics: Integrated Politics of Research CONFERENCE PROCEEDINGS, Budapest, Hungary, December 1, 2022
8th International Scientific-Business Conference LIMEN 2022 - Leadership, Innovation, Management and Economics: Integrated Politics of Research CONFERENCE PROCEEDINGS, Budapest, Hungary, December 1, 2022

Contributor(s): Vuk Bevanda (Editor)
Subject(s): Social Sciences, Economy
ISSN: 2683-6149
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Leadership; Innovation; Economics; Management
Summary/Abstract: Organizing is an evolutionary phenomenon, distinctive because of the laws of existence and maintaining all structures in all processes of their functioning. As such, it is a civilizational phenomenon that occurs as a component of human, individual, and social activities and as a factor in the overall development of man and society. On the other hand, as a deliberate human activity, organizing involves seeking solutions to problems that occur on the way to achieving specific goals. No goal can be achieved without appropriate or necessary, or at least minimal organization of conditions, factors, and processes needed for goal achievement. However, the new era requires new types of leaders and managers and new forms of organization; demands those who are willing and able to lead the company/corporation/state, in a distinct competitive environment, with all the good and bad sides brought by the globalization of world economy. The purpose of the annual LIMEN conference is to support the power of scientific research and dissemination of the research results with the objective to enhance society by advancing knowledge; policy-making change, lives, and ultimately, the world. Our objective is to continue to be the foremost annual conference on cutting-edge theory and practice of leadership, innovations, management, and economics, encouraging advancement via excellence, and interaction. LIMEN conference aims to bring together the international academic community (experts, scientists, engineers, researchers, students, and others) and enable interactive discussions and other forms of interpersonal exchange of experiences and popularization of science and personal and collective affirmation. The annual LIMEN conference is committed to the highest standards of publishing integrity and academic honesty ensuring ethics in all its publications. Conformance to standards of ethical behavior is therefore expected of all parties involved: authors, editors, reviewers, and the publisher. The conference organizer follows the Committee on Publication Ethics (COPE) guidelines on how to deal with potential acts of misconduct. All received full papers prior peer review process are subject to plagiarism check with iThenticate by Turnitin software. Any identified plagiarism automatically disqualifies a paper. Afterward, all full papers are double-blind peer-reviewed by the reviewers drawn from the editorial committee or external reviewers depending on the topic, title, and subject matter of the paper. Peer reviewers provide a critical assessment of the paper and may recommend improvements. Although the author may choose not to take this advice, we highly recommend that the author address any issues, explaining why their research process or conclusions are correct.Association of Economists and Managers of the Balkans headquartered in Belgrade – Serbia along with the partner institutions, namely the Center for Advanced Studies in Management and Economics (CEFAGE-UE), Institute for Advanced Studies and Research, University of Evora, Portugal; Department of Law, Economics and Sociology, University of Magna Graecia, Catanzaro, Italy; Faculty of Economics, University of South Bohemia, České Budějovice, Czech Republic; and Rio de Janeiro Institute College (Faculdade Instituto Rio de Janeiro – FIURJ), Rio de Janeiro, Brazil organized 8th International Scientific-Business Conference titled: Leadership, Innovation, Management, and Economics: Integrated Politics of Research – LIMEN 2022 on December 1, 2022 in the EXE Budapest Center, Budapest, Hungary in a hybrid format (in-person, online and virtually).LIMEN 2022 covered a wide array of topics related to economics, finance, technology, and social issues. It delved into areas such as economic growth, cryptocurrency markets, globalization, artificial intelligence, financial market efficiency, sustainability, pandemic impacts, management practices, tourism, environmental concerns, and legal challenges. The 8th LIMEN conference explored economic theories, market trends, social behaviors, and technological advancements, providing a comprehensive overview of various facets of contemporary global issues. The keynote speaker at the LIMEN 2022 conference was Professor Orlando Gomes representing Lisbon Accounting and Business School (ISCAL-CEFAGE), Portugal with the topic “Global risks and the theory of economic growth”. Within publications from the LIMEN 2022 conference: • 10 double peer-reviewed papers have been published in the LIMEN 2022 Selected Papers, • 39 double peer-reviewed papers have been published in the LIMEN 2022 Conference Proceedings, • 61 abstracts have been published in the LIMEN 2022 Book of Abstracts. Altogether LIMEN 2022 publications have nearly 600 pages. All full papers have DOI numbers and ORCID iD integration. Participation in the conference took more than 100 researchers representing 21 different countries from different universities, eminent faculties, scientific institutes, colleges, various ministries, local governments, public and private enterprises, multinational companies, associations, etc.

Series: International scientific-business conference LIMEN Leadership, Innovation, Management and Economics: Integrated Politics of Research

Print-ISBN-13: 978-86-80194-66-0
Page Count: 383
Publication Year: 2022
Language: English

Globalization of the Stock Market and the Impact of Artificial Intelligence on Challenging Businesses

Globalization of the Stock Market and the Impact of Artificial Intelligence on Challenging Businesses
(Globalization of the Stock Market and the Impact of Artificial Intelligence on Challenging Businesses)

Author(s):Anis Benabed, Andreea Boeru
Language:English
Subject(s):Social Sciences, Economy
Page Range:1-10
No. of Pages:10
Summary/Abstract:This paper presents and describes the globalization-inﬂuenced stock market and business trends. Globalization introduces profound changes and challenges in development conditions. This pattern is manifested in the economic and business spheres. Indeed, Globalization dictates its laws, one of its fundamental characteristics is the internationalization of production, fnancial markets and the free movement of capital across national borders.As a methodology for this study, we reviewed the existing literature, which was the frst step in our research and focused on data analysis as well. The results show that since artifcial intelligence, businesses and the stock market are phenomena, elements and some of the results of Globalization, we found out that all of them are connected, especially after the appearance and integration of digitalization that facilitates more opportunities between the traders and the stock market.The conclusions show that in stages of globalization, the growth of artificial intelligence and other forms of automated technology are necessary for the stock market. Artifcial intelligence is necessary for business operations and trade opportunities, on the other hand by using it more it becomes more intelligent. All this is important for the Stock market because globalizing the stock market needs artifcial intelligence (AI), business opportunities and operations that are challenging from one market to another.

A Multiple Fluctuations and Detrending Analysis of Financial Market Efficiency: Comparison of Central and Eastern European Stock Indexes

A Multiple Fluctuations and Detrending Analysis of Financial Market Efficiency: Comparison of Central and Eastern European Stock Indexes
(A Multiple Fluctuations and Detrending Analysis of Financial Market Efficiency: Comparison of Central and Eastern European Stock Indexes)

Author(s):Rui Dias, Nicole Horta, Mariana Chambino, Paulo Alexandre, Paula Heliodoro
Language:English
Subject(s):Social Sciences, Economy
Page Range:11-21
No. of Pages:11
Summary/Abstract:The analysis of stock market behaviour is still a very appealing topic because it can give investors information about where to invest their money. In this context, a dynamic investigation of Austria's (ATX), Serbia's (BELEX 15), Hungary's (BUX), Croatia's (CROBEX), Russia's (IMOEX), Czech Republic's (PX PRAGUE), Slovenia's (SBITOP), and Poland's (WIG) capital markets is carried out from September 18th, 2017, to September 15th, 2022. The results suggest that most indexes are far from being absent of long-term dependency, which may be interpreted as inefciency; that is, throughout the Tranquil period, the stock market indexes SBI TOP (0.59), AEX (0.54), WIG (0.54), PRAGUE (0.53), and BELEX 15 (0.52) exhibit dependence over time. The CROBEX (0.47) and BUX (0.44) indexes indicate anti persistence, however, the Russian market shows equilibrium (0.49 ≌ 0.0126), indicating that the random walk hypothesis is not rejected. When we look at the behaviour of the markets under consideration during the Stress subperiod, we see that persistence was signifcantly higher in the capital markets under analysis, except for the Russian market, which demonstrates some equilibrium. To conclude, we suggest that policymakers must take a comprehensive approach to improve the efciency of international fnancial markets during times of stress due to uncertainty in the global economy and its inﬂuence on the memory properties of capital markets.

Efficiency and Long-Term Correlation in Central and Eastern European Stock Indexes: An Approach in the Context of Extreme Events in 2020 and 2022

Efficiency and Long-Term Correlation in Central and Eastern European Stock Indexes: An Approach in the Context of Extreme Events in 2020 and 2022
(Efficiency and Long-Term Correlation in Central and Eastern European Stock Indexes: An Approach in the Context of Extreme Events in 2020 and 2022)

Author(s):Nicole Horta, Rui Dias, Mariana Chambino
Language:English
Subject(s):Social Sciences, Economy
Page Range:23-37
No. of Pages:15
Summary/Abstract:The analysis of the behaviour of capital markets remains a very interesting issue as it can give investors information about where to invest their money. Given the importance of measuring autocorrelation in fnancial markets, this paper aims to analyse the predictability of capital markets, namely Austria (Austrian Traded), Budapest (BUX), Bulgaria (SE SOFIX), Croatia (CROBEX), Russia (MOEX), Czech Republic (PragueSE PX), Romania (BET), Slovakia (SAX 16), and Slovenia (SBI TOP), for the period from January 1st, 2020, to May 6th, 2022. To conduct this analysis and obtain more robust results we partitioned the sample into three sub-periods: 1st wave of Covid (January 2020 to December 2020), 2nd wave of Covid (January 2021 to December 2021), and the Russian invasion of Ukraine in 2022 (January 2022 to May 2022). The results of the Lagrange Multiplier test (ARCH-LM test), show that the residuals of the autoregressive processes of the capital markets under analysis exhibit conditional heteroscedasticity. Furthermore, the BDS test fndings indicate the presence of non-linear components, implying that the hypothesis that the returns are independent and identically distributed is rejected, with a statistical signifcance of 1%, from dimension 2 onwards. Overall, the DFA exponents show that the Russian invasion of Ukraine in 2022 had a diﬀerent impact on the predictability of these regional markets indicating that markets were predictable and showed pronounced long memories during the frst wave of Covid-19, while markets mostly tended towards equilibrium during the last sub-period of 2022. The authors believe that this research is crucial for policymakers and investors in Central and Eastern Europe capital markets in terms of regional development initiatives and portfolio diversifcation strategies.

Linear and Nonlinear Effects on Connectivity Structure: A Comparison of European Stock Markets

Linear and Nonlinear Effects on Connectivity Structure: A Comparison of European Stock Markets
(Linear and Nonlinear Effects on Connectivity Structure: A Comparison of European Stock Markets)

Author(s):Rui Dias, Mariana Chambino, Nicole Horta, Paula Heliodoro, Paulo Alexandre
Language:English
Subject(s):Social Sciences, Economy
Page Range:39-52
No. of Pages:14
Summary/Abstract:Understanding how crises spread is important for policymakers and regulators to take appropriate measures to prevent or contain crisis spread. This paper aims to analyse the synchronisations and fnancial contagion between the capital markets of Austria (ATX), Hungary (BUX), Croatia (CROBEX), Serbia (BELEX 15), Russia (IMOEX), Czech Republic (Prague SE PX), Slovenia (SBI TOP), and Poland (WIG) from September 19th, 2017, to September 15th, 2022. The results show that during the Tranquil period, there were 23 integrations (out of 49 possibilities), and the markets with the most integrations are the Russian (IMOEX) and Polish (WIG) capital markets, while the Slovenian market (SBI TOP) does not integrate with any market, suggesting some isolation from its regional peers. During the 2020 and 2022 Stress events, we can confrm the presence of 45 integrations, with the stock indexes ATX, BUX, IMOEX, and SBI TOP being the most integrated markets (7 out of 7 possibilities). These fndings are supported by the results of the unconditional correlations, which show that the coefcients signifcantly increased between the Tranquil and Stress periods. To validate, the Forbes and Rigobon's t-test shows that we are witnessing the phenomenon of marked contagion in these regional markets, with the exception of the IMOEX-CROBEX pair. These fndings suggest that regional investors operating in these markets may have some challenges in mitigating portfolio risk, with a high probability of possible losses in their portfolios.

The Challenging Consequences of the Russian-Ukrainian Conflict and a New Transition in Global Trade, Energy Market and Oil Prices

The Challenging Consequences of the Russian-Ukrainian Conflict and a New Transition in Global Trade, Energy Market and Oil Prices
(The Challenging Consequences of the Russian-Ukrainian Conflict and a New Transition in Global Trade, Energy Market and Oil Prices)

Author(s):Anis Benabed, Andrei Bulgaru
Language:English
Subject(s):Social Sciences, Economy
Page Range:53-59
No. of Pages:8
Summary/Abstract:This paper analyzes and presents how far the challenging consequences of the Russian-Ukrainian conﬂict have impacted global trade, the energy market and oil prices. The Russian-Ukrainian conﬂict has aﬀected the world’s stability and economy by putting so many new challenges and obstacles to supply chains and industries. Due to the escalations of the conﬂict, the energy market has known big changes, especially after oil prices that have been rising to approximately $ 110 per barrel since March 2022.In our methodology, we based on data analysis and a review of the previous literature where the research question is: “how far the consequences of the Russian-Ukrainian conﬂict could introduce a new transition in Global trade, energy market and Oil prices?” The results show that the conﬂict caused a big rise in Oil prices to their highest level in 14 years and this has led to high rates of inﬂation, an economic downturn globally and low access to food and energy in many countries.The conclusions show that the dependence on energy after the start of the escalation and the instability of imports and exports have boosted a new transition in global trade, the energy market and oil prices.

How Much Did the Pandemic Consumption Behaviour Contribute to the Rising Inflation? The North-Western Romanian Households’ Perspectives

How Much Did the Pandemic Consumption Behaviour Contribute to the Rising Inflation? The North-Western Romanian Households’ Perspectives
(How Much Did the Pandemic Consumption Behaviour Contribute to the Rising Inflation? The North-Western Romanian Households’ Perspectives)

Author(s):Adrian-Gheorghe Florea, Diana-Claudia Perticas, Diana-Cristina Sava
Language:English
Subject(s):Social Sciences, Economy
Page Range:61-66
No. of Pages:6
Summary/Abstract:The living standards of Europeans have been facing serious challenges starting with the Covid-19 pandemic, and continuing with the Russia-Ukraine war and all its threats. Europe is facing one of its outcomes in the current gas shortage problem, impacting negatively various aspects of the Europeans’ lives, such as rising inﬂation. However, the rising trend of inﬂation was noticed even before the problems related to the Russian gas supply. The current paper presumes the Covid-19 pandemic’s lockdown and the changes in consumption behaviour also have a relevant contribution to the rising inﬂation; in this respect, the authors used both deductive – by collecting data regarding the national indicators – and inductive methods, as well – by conducting a survey in the Western part of Romania investigating the consumption patterns. The pandemic challenged individuals, institutions, entire systems, countries and regions to adapt to hardship and to create new ways of overcoming the restrictions imposed by the lockdown; although considering the stressful times and situations created by this phenomenon, it also enhanced negative adaptive and coping behaviours. This paper’s focus falls on the level and ways of spending during the pandemic, to assess if the rising inﬂation started with the irrational spending during the pandemic.

Importance of Language in Central Banks’ Management of Financial Markets: Creating Trends and New Vocabulary

Importance of Language in Central Banks’ Management of Financial Markets: Creating Trends and New Vocabulary
(Importance of Language in Central Banks’ Management of Financial Markets: Creating Trends and New Vocabulary)

Author(s):Borislav Marušić, Branimir Kurmaić
Language:English
Subject(s):Social Sciences, Economy
Page Range:67-73
No. of Pages:8
Summary/Abstract:Language is often considered a living organism that changes with the times. It is a fact that the glossary of business English has grown in interesting ways in the age of day trading. The ever-growing importance of semantics in fnancial statements or, perhaps even more importantly, central bank statements seems to have coincided with the rise of the internet as the dominant way of information in the fnancial industry. Specially programmed algorithms scan Reddit boards in search of new trends, information is absorbed constantly, and trades are realized in seconds. In such an environment, ofcials’ statements have become more obtuse, the language more nuanced, and meanings blurred. The authors analyze the way central banks speak to the markets, how that impacts trends in the trading of fnancial securities, and provide an overview of some of the vocabulary impacted directly or indirectly by their actions that are now widely used by the fnancial media, institutions and day traders.

Foreign Direct Investment Inflow in the Context of IFRS Adoption: Evidence from Slovakia

Foreign Direct Investment Inflow in the Context of IFRS Adoption: Evidence from Slovakia
(Foreign Direct Investment Inflow in the Context of IFRS Adoption: Evidence from Slovakia)

Author(s):Radoslav Tusan
Language:English
Subject(s):Social Sciences, Economy
Page Range:75-79
No. of Pages:6
Summary/Abstract:IFRS can be considered a global accounting standard; by accepting it, the country can help increase the transparency of fnancial statements. Increased transparency will subsequently attract new foreign investors who prefer markets with high-quality information and provide them with the opportunity to assess investments at low costs and low risk. The adoption of IFRS can bring positive macroeconomic eﬀects to countries, from which they can subsequently beneft and improve their overall economy. The article analyzes the impact of the adoption of IFRS on FDI in the Slovak Republic for the period from 1995 to 2020 through the correlation coefcients of various related variables. Two research objectives were specifed in the article: 1) the adoption of IFRS does not have a signifcant eﬀect on the inﬂow of FDI; 2) the adoption of IFRS has a signifcant impact on the inﬂow of FDI. The comparison of correlation coefcients showed interesting results in the mentioned context.

The Impact of Business Support Institutions on the Development of the SME Sector

The Impact of Business Support Institutions on the Development of the SME Sector
(The Impact of Business Support Institutions on the Development of the SME Sector)

Author(s):Anamarija Delić
Language:English
Subject(s):Social Sciences, Economy
Page Range:81-89
No. of Pages:10
Summary/Abstract:The aim of this paper is to critically review and map the network of business support institutions in Croatia and their impact on the development of the small and medium-sized enterprises (SME) sector. There are many research fndings in the literature that link the development of the SME sector to the level of institutional development, but rarely articles that link business support institutions to the improvement of the business ecosystem (reduction of barriers). Through in-depth interviews with the heads of business support institutions, this paper aims to explore the impact of business support institutions on reducing barriers that hinder the establishment and development of SMEs. The results show that business support institutions do not have enough resources (time, money, knowledge, etc.) to provide the necessary assistance to SMEs, but also to fulfll other tasks and obligations for which they are responsible. The results of the study can be used for the development of better SME policies, but also for the development of services that better meet the needs of SMEs.

Analysis of the Number of Active Enterprises in Individual Regions of Slovakia in the Period 2014–2019

Analysis of the Number of Active Enterprises in Individual Regions of Slovakia in the Period 2014–2019
(Analysis of the Number of Active Enterprises in Individual Regions of Slovakia in the Period 2014–2019)

Author(s):Ľubica Hurbánková
Language:English
Subject(s):Social Sciences, Economy
Page Range:91-96
No. of Pages:6
Summary/Abstract:The paper aims to analyze the trend in the number of active enterprises in individual regions of Slovakia in the period 2014–2019. Selected characteristics of time series are used to analyze the trend. The contribution method is used to fnd out which region contributed the most to the total increase in the number of active enterprises.The largest increase in the number of active enterprises was in 2017 compared to 2016 when an increase of 5.95% was recorded, which is absolutely 29,496 more active enterprises. The lowest increase was found in 2016 compared to the previous year, namely an increase of 1.86% (9,036 more active enterprises). In 2019 compared to 2014, the number of active enterprises increased by 19.58%. During the entire monitored period, the largest number of active enterprises was in the Bratislava region (124,334 in 2019), the least in the Banská Bystrica region (47,114 in 2014). The number of active enterprises increased the most in 2019 compared to 2014 in the Bratislava region (an increase of 26.84%), the least in the Trenčín region (an increase of 12.80%). In 2014, the Bratislava region had the highest share of the total number of active enterprises (20.56%). Bratislava region contributed the most to the increase in the number of active enterprises in 2019 compared to 2014 by 19.58%, namely 5.52% and Trenčín region the least at 1.29%.

Offshore Outsourcing – Models Assessing Destination Countries in the 3rd Decade of 21th Century

Offshore Outsourcing – Models Assessing Destination Countries in the 3rd Decade of 21th Century
(Offshore Outsourcing – Models Assessing Destination Countries in the 3rd Decade of 21th Century)

Author(s):Armela Anamali, Bitila Shosha
Language:English
Subject(s):Social Sciences, Economy
Page Range:97-107
No. of Pages:12
Summary/Abstract:The new decade began with an alarming health crisis (Covid-19), which countries will probably have to deal with for a long time. The war in Ukraine started in February 2022, agitated and raised the alarm regarding geopolitical and economic security for many countries directly or indirectly aﬀected by it. Changing conditions have prompted frms to look at their operating strategies. Recent studies show how important it is to review the determinants of oﬀshore outsourcing in reallocating activities according to the industries. This paper reviews the models for evaluating destination countries and analysing those considering new circumstances.

Electronic Trade, Cards and E-money

Electronic Trade, Cards and E-money
(Electronic Trade, Cards and E-money)

Author(s):Vladimir Mladenović, Milica Krulj Mladenović, Danilo Obradović, Jovana Andjelković
Language:English
Subject(s):Social Sciences, Economy
Page Range:109-113
No. of Pages:6
Summary/Abstract:The introduction of information systems in the economy is a big step forward for all actors in the process. At the very beginning, there was a certain degree of mistrust of the participants themselves with the introduction of the Internet into business, but the current progress is noticeable with its greater perspective in the future. Buying goods and services online has become a need for a large number of citizens. Citizens have adapted over the years and gradually accepted the advantages of online shopping, and now it's just a question of how far these measures will go. More and more goods and services are available online to be traded. Every day more websites specialize in e-commerce. The paper will show the number of transactions, as well as how they moved in the last 5 years in our country, limited to card transactions and the use of electronic money.

Economic and Security Paradigm: The Ongoing (R)Evolution?

Economic and Security Paradigm: The Ongoing (R)Evolution?
(Economic and Security Paradigm: The Ongoing (R)Evolution?)

Author(s):Ivan Jovetić
Language:English
Subject(s):Social Sciences, Economy
Page Range:115-127
No. of Pages:14
Summary/Abstract:The history of technological changes has confrmed its impact on (r)evolution of security concepts and paradigms. However, it is not an unknown correlation and has its roots in what Kuhn has been defning as the normal science problem and eventually scientifc revolution. Civilizations’ history has proven the impact of technology on societies from the wheel to the cyber. And whenever Kuhn’s normal science or current patterns and solutions were unable to solve rising challenges and changes the new (r)evolution rise and led to the paradigm changes. Respective has an impact on the economy, security as well as economic security. Each one of them is the core subject of evolving and the rise of the new subject’s paradigm. Distinct impacts on security as well as the concept of individual security are the core focus of this article. In addition, it is a consequential attempt to identify the common denominator between security as the concept as well as its subconcepts like individual security, economic security and corporate security. Changes in technology especially cyber security concepts and machine learning followed by artificial intelligence are the drivers of the (r)evolution of the paradigm in the economic security context. Similar to the technologically impacted Cold War arms race, the new IT arms race is one of the identifed outcomes of the evolved paradigm in security. It seems like a similar yet diﬀerently driven impact. Finally, all aforementioned is changing the future of security in general but also in particular concerning changes and impacts on individual(s) security. Therefore, it is highly important to understand and follow respective changes including.paradigm shifts. And unlike Goethe’s view on technology, paradigm shift understanding might support us within the challenges.

A Predictive Maintenance Deployment Model for IoT Scenarios

A Predictive Maintenance Deployment Model for IoT Scenarios
(A Predictive Maintenance Deployment Model for IoT Scenarios)

Author(s):Albana Gorishti, Klaidi Gorishti
Language:English
Subject(s):Social Sciences, Economy
Page Range:128-135
No. of Pages:8
Summary/Abstract:The Internet of Things (IoT) concept describes the intelligent connectivity of smart devices using Internet connectivity. In a continuously developing IoT environment, companies try diﬀerent approaches for predictive maintenance as a solution to reduce costs and the frequency of maintenance activities. Such an environment can natively foster predictive maintenance as it integrates information from diﬀerent equipment to derive insights and predictions.This paper proposes a deployment model for predictive maintenance approaches on industrial equipment by processing and analyzing their audio signals. Proper maintenance scheduling is necessary to prevent business costs and maintain the equipment in operational capability.The authors propose a system architecture to make predictive maintenance applicable in diﬀerent industrial scenarios. The implementation exploits deep learning neural networks to detect anomalies and further classify them into categories. These machine learning techniques enable predictions of equipment’s conditions and thus maintenance services can be performed.

Reviewing Applications of the Non-parametric DEA Methodology in Croatia

Reviewing Applications of the Non-parametric DEA Methodology in Croatia
(Reviewing Applications of the Non-parametric DEA Methodology in Croatia)

Author(s):Katarina Fotova Čiković
Language:English
Subject(s):Social Sciences, Economy
Page Range:137-142
No. of Pages:6
Summary/Abstract:This article surveys and presents the applications of Data Envelopment Analysis (DEA) in Croatia, i.e. in diﬀerent industries and economic sectors in Croatia. The systematic review followed the PRISMA statement and guidelines for systematic literature review. The main scientifc online databases were accessed in September 2022 without time constraints with the use of the keywords „DATA ENVELOPMENT ANALYSIS“ and „CROATIA“. Therefore, all the applications of DEA in Croatia are presented ever since the introduction of DEA back in 1978. This review’s main goal is to gain insights into the areas of research in Croatia that most commonly use the DEA methodology and the areas that neglect this methodology. Moreover, the Croatian authors that most commonly use this methodology will be revealed. Another goal is to introduce all the various aspects of efciency evaluation that can be used with the DEA methodology. The ultimate goal of this paper is to increase awareness among academic members, scholars and analysts to employ the DEA methodology more often when it comes to measuring the relative efciency of homogeneous decision-making units (DMUs). The paper concludes with a summary of the DEA applications as well as literature gaps on DEA applications in Croatia. Moreover, suggestions and guidelines for future research are provided.

Science and Technology Parks and Their Role in the Economic Development of the Republic of Serbia

Science and Technology Parks and Their Role in the Economic Development of the Republic of Serbia
(Science and Technology Parks and Their Role in the Economic Development of the Republic of Serbia)

Author(s):Ivana Kostadinović, Živorad Gligorijević, Milena Kostadinović
Language:English
Subject(s):Social Sciences, Economy
Page Range:143-150
No. of Pages:8
Summary/Abstract:In a large number of countries, both developed and developing countries, science and technology parks are considered an important mechanism for improving and encouraging the development of industry, as well as the economy as a whole, because they encourage the development of SMEs, which use modern (high) technology, which at the same time aﬀects accelerated economic development based on knowledge. The basic task of all forms of science and technology parks is the development and promotion of innovative activities, the appearance of as many innovations as possible on the market (domestic and international) and assistance in the commercialization of the results of scientifc research. The goal of the work is to indicate that the construction and development of science and technology parks should enable the improvement of the competitiveness of the Republic of Serbia, more intensive economic and development as a whole, faster development of innovative SMEs and increased volume of foreign direct investments. Bearing in mind that there is an uneven distribution of science and technology parks and that in the development of science and technology parks, the Republic of Serbia lags behind the countries of the European Union, as well as some countries in the surrounding area, it is necessary for the coming period to equip them with all the necessary infrastructure, which will enable companies, scientists to engage in scientifc research and project development, as well as to be connected with faculties, other innovative companies and local self-government units.

Process Mining Maturity Assessment – Critical Success Factors

Process Mining Maturity Assessment – Critical Success Factors
(Process Mining Maturity Assessment – Critical Success Factors)

Author(s):Ioannis Boules, Xanthi Tsipoura, Michail Glykas
Language:English
Subject(s):Social Sciences, Economy
Page Range:151-166
No. of Pages:16
Summary/Abstract:In this paper, we present a literature survey of Process Mining and its identifed implementation. The aim is the identifcation of the most prominent Critical Success Factors that should be achieved for successful process mining implementation. We concluded with ten proposed critical success factors that should be assessed in any process mining implementation. We also elaborate on the role of process mining in business process management and its contribution in resolving identifed drawbacks.

EFQM Excellence Model – A Systematic Literature Review. A Proposal FOR a Maturity Assessment Framework

EFQM Excellence Model – A Systematic Literature Review. A Proposal FOR a Maturity Assessment Framework
(EFQM Excellence Model – A Systematic Literature Review. A Proposal FOR a Maturity Assessment Framework)

Author(s):Thaleia Dima, Maria Vitzilaiou, Michail Glykas
Language:English
Subject(s):Social Sciences, Economy
Page Range:167-178
No. of Pages:12
Summary/Abstract:Performance Improvement is high on the agenda of most organizations worldwide. A growing number of improvement models are now available, and it is necessary to adopt an approach to earn the most attractive organizational excellence performance. One such practice is implementing the EFQM Excellence model, which is a self-assessment framework for determining the strong and weak points and measuring areas of improvement of an organization across continuous quality improvement. EFQM Excellence Model is used by any kind of organization regardless of size, sector, maturity and structure. Following the identifcation of the most known CSFs, we present the Glykas Quality Compass (GQC), a novel methodology for assessing the Quality Management Maturity that assesses implementation projects holistically and thoroughly using a matrix of critical success factors (CSFs) and enablers. The proposed methodology for maturity assessment might be specifcally applied to the four quality management categories: Total Quality Management, Quality Standards, Quality Methodologies and Excellence Awards.

An Integrated Proposal for a Knowledge Management Implementation & Maturity Assessment Model

An Integrated Proposal for a Knowledge Management Implementation & Maturity Assessment Model
(An Integrated Proposal for a Knowledge Management Implementation & Maturity Assessment Model)

Author(s):Eirini Bougoulia, Michail Glykas
Language:English
Subject(s):Social Sciences, Economy
Page Range:179-193
No. of Pages:16
Summary/Abstract:The goal of the paper is to suggest a comprehensive and integrated knowledge management implementation and maturity assessment model based on the most common critical success factors and corporate enablers discovered during a systematic overview of the knowledge management maturity models and the related literature review. Summarizing the review leads to the discovery of KMMMs CSFs and key themes, while simultaneously examining the idea of standardization through accepted KM standards and their core principles. To provide a model that can be used by both practitioners and researchers in the future to improve organizational performance and to be used as a tool for knowledge management performance measurement, the implementation stages of the proposed framework, the maturity levels, the proposed assessment measuring tools and methods are presented in an approach that encompasses the core guidelines of ISO 30401.

Human Resources Cost of Quality Conformance: A Process Mining Effort-Based Application for a Fruit Canning Company

Human Resources Cost of Quality Conformance: A Process Mining Effort-Based Application for a Fruit Canning Company
(Human Resources Cost of Quality Conformance: A Process Mining Effort-Based Application for a Fruit Canning Company)

Author(s):Eleni Sachini, Ioannis Boules, Michail Glykas
Language:English
Subject(s):Social Sciences, Economy
Page Range:195-209
No. of Pages:16
Summary/Abstract:Quality is the main factor that contributes decisively to the achievement of business goals and objectives. However, quality improvement leads to increases in production costs. Organizations, therefore, make a comparison between the business benefts and the associated quality costs in any quality improvement initiative. Even though the calculation of quality costs has become a prerequisite for quality implementation initiatives our literature survey has revealed that existing accounting frameworks present serious drawbacks in the calculation of human resources costs associated with activities performed by individuals that are directly related to the design and implementation of quality management systems. In our research, we concluded with an Integrated Quality Cost Accounting framework, based on the combination of the following approaches: Activity Based Costing, Process-Operations Mining, Human Resource Accounting, and Cost of Quality (CoQ).

Employees’ Perception of Climate Change and Its Impact on Business Competitiveness

Employees’ Perception of Climate Change and Its Impact on Business Competitiveness
(Employees’ Perception of Climate Change and Its Impact on Business Competitiveness)

Author(s):Karmen Erjavec
Language:English
Subject(s):Social Sciences, Economy
Page Range:211-216
No. of Pages:6
Summary/Abstract:Climate change in the form of extreme weather events is becoming more frequent and severe, and populations across Europe are more aﬀected by droughts and ﬂoods. All this aﬀects workers' perceptions of climate change and how they assess its impact on the competitiveness of the companies they work for. A survey of Slovenian workers (N = 212) examined the associations between reported concerns about climate changes concern and perceptions of its impact on business competitiveness. In regression analyses, exposure was associated with greater concern about climate change and negative perceptions of business competitiveness. Our study suggests that workers' awareness of climate-related exposures in their local environment, along with personal exposures, is associated with increased concern about climate change and its negative impact on business competitiveness. As sustainable competitiveness needs well-informed workers, our fndings suggest that policies aimed at raising awareness of climate concerns and their impact on business awareness should take into account workers' perceptions.

The Influence of the Pandemic COVID-19 on the Leadership Styles of Management

The Influence of the Pandemic COVID-19 on the Leadership Styles of Management
(The Influence of the Pandemic COVID-19 on the Leadership Styles of Management)

Author(s):Ivana Nikolić
Language:English
Subject(s):Social Sciences, Economy
Page Range:217-222
No. of Pages:6
Summary/Abstract:The goal of the research conducted in the paper is to indicate changes in leadership styles that occurred as a result of the Covid-19 pandemic. The author, through the analysis of various sources of literature, emphasized the changes in the leadership styles of managers that occurred as a result of the pandemic. The work contains a description of the behavior of leaders who successfully adapted to the changes that took place during the crisis. Special attention in the paper is devoted to the importance of shifting the focus of leaders from achieving the company's business goals to a much broader perspective, which also includes helping employees to more easily face the uncertainty and risks they were exposed to during the Covid-19 pandemic. The paper aims to point out the practices of successful leaders, which are largely applicable in conditions after the end of the pandemic.

Analysis of the Representation of Women in the Business Environment of the Slovak Republic

Analysis of the Representation of Women in the Business Environment of the Slovak Republic
(Analysis of the Representation of Women in the Business Environment of the Slovak Republic)

Author(s):Katarína Kráľová
Language:English
Subject(s):Social Sciences, Economy
Page Range:223-228
No. of Pages:6
Summary/Abstract:In Slovakia, the share of women in the total population of the Slovak Republic is slightly above 50%. Women entrepreneurs in Slovakia are still somewhat the exception rather than the rule. Their approach to entrepreneurship is not the same as that of men and women's entrepreneurial story is often linked to their personal lives. Women's entrepreneurship is a hot topic at the moment and by analysing it, it is possible to fnd out what are the characteristics, qualities, motives and factors inﬂuencing women's entrepreneurial activity in the Slovak Republic. The aim of our paper is to evaluate, through the analysis and development of statistical indicators, the position of women in the labour market in the Slovak Republic not only in terms of numbers but also in relation to the labour market (number of economically active women, employment, unemployment of women in the Slovak Republic) and also the degree of women's involvement in entrepreneurial activities in order to obtain a comprehensive view of the representation of women in the entrepreneurial environment in the Slovak Republic.

Development Trends of Human Resources in Public Administration in Slovakia

Development Trends of Human Resources in Public Administration in Slovakia
(Development Trends of Human Resources in Public Administration in Slovakia)

Author(s):Iveta Dudova, Silvia Matušova
Language:English
Subject(s):Social Sciences, Economy
Page Range:229-237
No. of Pages:10
Summary/Abstract:The paper identifes the critical factors in the development of public administration in Slovakia by 2030, considering human resources development, innovation, and digitization. The aim of the paper is to characterize the mission and functions of the public administration, the most signifcant trends in human resources development and measures necessary to facilitate innovations and upgrading in the public administration. The paper considers the valid legislation, data analysis and development trends in the public administration sector in Slovakia, including the quantity, quality and competitiveness of human resources potential and the digitization of public administration and the innovations in the labour market. The public administration sector performs the tasks entrusted by the state, framed, and defned by the public interest. The public administration sector has a cross-sectional character and shows intersections with other sectors.

Integration of Foreigners in the Context of the Labor Market and of the Amendment to the Slovak Asylum Act

Integration of Foreigners in the Context of the Labor Market and of the Amendment to the Slovak Asylum Act
(Integration of Foreigners in the Context of the Labor Market and of the Amendment to the Slovak Asylum Act)

Author(s):Barbara Pavlikova
Language:English
Subject(s):Social Sciences, Economy
Page Range:239-249
No. of Pages:12
Summary/Abstract:The paper deals with the amendment to Slovak Act no. 480/2002 Coll. on asylum, which entered into force on June 1, 2022, in the broader context of the employment of foreigners. The amendment in question was adopted in response to the international situation which arose as a result of the war in Ukraine. The aim of the article is to present the purpose of the amendment and the changes it brings in an eﬀort to unify the rules and facilitate the initial integration of incoming people. The author perceives inclusion in the labor market as one of the key factors inﬂuencing the overall quality of life, starting with the economic side and ending with a sense of usefulness and self-worth. Even with regard to the needs of the Slovak labor market, it is more than desirable that the process of applying for foreigners in various job positions is as simple as possible.

Addressing Key Challenges in Vocational Education and Training (VET) In Albania, Ensuring Systematic Change, Competence Development, and Stakeholder Empowerment

Addressing Key Challenges in Vocational Education and Training (VET) In Albania, Ensuring Systematic Change, Competence Development, and Stakeholder Empowerment
(Addressing Key Challenges in Vocational Education and Training (VET) In Albania, Ensuring Systematic Change, Competence Development, and Stakeholder Empowerment)

Author(s):Elvira Fetahu, Eriona Cela
Language:English
Subject(s):Social Sciences, Economy
Page Range:251-256
No. of Pages:6
Summary/Abstract:The achievement of economic growth is the goal and objective of every country and it is possible only through the eﬀorts of diﬀerent educational institutions, providers, and beneficiaries, to educate and train experts in diﬀerent sectors, based on the principle of lifelong learning. This paper aims to analyze the needs of employees to develop and improve hard and soft skills, providing the challenges of vocational education and to adopt the changes in the labor market, for both employees and employers. The data collected from Vehicle Services, Hotel and Tourism, Construction, and Logistics dialogue roundtables provide recommendations for providers and businesses in every job aspect.The analysis of the data resulted in the following: it is necessary to establish continuous contacts with public institutions which oﬀer professional development courses for employees, both before and during employment, as for them the cost of training the employees is a continuous process.

How Much Sustainable Knowledge Will Soon-to-Be Experts in Slovenia Have? Findings of Higher Education Study Programs’ Analysis

How Much Sustainable Knowledge Will Soon-to-Be Experts in Slovenia Have? Findings of Higher Education Study Programs’ Analysis
(How Much Sustainable Knowledge Will Soon-to-Be Experts in Slovenia Have? Findings of Higher Education Study Programs’ Analysis)

Author(s):Matevž Obrecht, Lazar Pavić
Language:English
Subject(s):Social Sciences, Economy
Page Range:257-263
No. of Pages:8
Summary/Abstract:Environmental topics are gaining more and more important both in the European Union and in Slovenia in the last decade. Climate changes (ﬂoods, droughts, and heat waves), pollution (soil, water, and air), management of invasive species, noise pollution, food self-sufficiency, sustainable development in the field of tourism, etc. are particularly present both in Slovenian Eastern and Western cohesion region. However, the level of knowledge about environmental challenges and competences of current experts and leaders to eﬀectively manage and deal with them is perceived to be too low. The paper examines the inclusion of sustainable competences, knowledge, and skills in higher education programs in Slovenia to predict the level of sustainable knowledge. Slovenian soon-to-be professionals will be empowered by the Slovenian higher education system (Daneshjoo et al., 2020). Analysis included the content of 956 higher education study programs on the individual course level. In the next phase, a comprehensive comparative analysis of the situation in the areas of higher education and environmental education was performed. The factors based on which comparison was made are field of study, type of institution, level of study and number of subjects in the program that include some sustainable content. Non-parametric tests were used to determine statistically significant diﬀerences are the Mann-Whitney U test and the Kruskal-Wallis H test.

The Need for Coherent Educational Policies in School Institution Management

The Need for Coherent Educational Policies in School Institution Management
(The Need for Coherent Educational Policies in School Institution Management)

Author(s):Ana-Maria Bolborici
Language:English
Subject(s):Social Sciences, Economy
Page Range:265-273
No. of Pages:10
Summary/Abstract:The presentation aims to emphasize the acute need for the existence of coherent educational policies in educational institution management. It is anchored in the concrete example of these concerns in Romania in recent decades. Pre-service and in-service training of school managers is argued as a necessity. A possible professionalizing of this occupation is highlighted, following examples derived from a brief presentation of the problem in the world. A curricular approach aiming at educational managers’ training within a concrete program of master’s studies existing at Transilvania University from Brașov is presented synthetically. Some universally valid aspects of this training are highlighted. The presentation stresses the idea that all these aspects must be understood in depth both by the educational policymakers, by the curriculum designers, and by those who implement the respective curricula. Awareness and accountability in this field increase the eﬀectiveness both of school managers’ pre-service training and implicitly the quality of the educational approach at all levels of the education system, from early education to higher education.

Educational Policy and Education Management. Study Case: Israel

Educational Policy and Education Management. Study Case: Israel
(Educational Policy and Education Management. Study Case: Israel)

Author(s):Teofan Narcis Axinte
Language:English
Subject(s):Social Sciences, Economy
Page Range:275-280
No. of Pages:6
Summary/Abstract:The world today faces new realities, conditions, and challenges as a result of the remarkable development in many fields. Across the past century, education systems all over the world have seen significant improvements. The educational system has evolved, progressed, and transformed in a way that emphasizes the democratization of education. To adapt their educational systems and objectives to the 21st century, all developed nations are coping with and confronting changes and difficulties both locally and globally. The present article wants to present some specific aspects related to educational policy and education management in Israel. Israel is a relatively new state, found in 1948 and the Israeli educational system reﬂects Israeli society, similarly to anywhere else in the world. In all these years of existence, Israel’s educational system has accomplished prodigious achievements. As it is obvious, Israel is a relatively young nation, hence its educational system faces various challenges, some of which are exclusive to Israel. This presentation proposes to explain brieﬂy the roots of Israel’s education system, which began before it was recognized as a state, and will illustrate some concrete facets of the actual education system, educational policy, and education management, as well, as in Israel.

Marketing, Sales and Supply Chain Management: A Case Study in Sports Marketing Human Resources Costing

Marketing, Sales and Supply Chain Management: A Case Study in Sports Marketing Human Resources Costing
(Marketing, Sales and Supply Chain Management: A Case Study in Sports Marketing Human Resources Costing)

Author(s):Maria-Christina Proia, Athina Tsimpidou, Spyridon Sakelariou, Michail Glykas
Language:English
Subject(s):Social Sciences, Economy
Page Range:281-296
No. of Pages:16
Summary/Abstract:A systematic literature survey on sales and marketing operations is presented with an emphasis on supply chain management. Articles included in the survey are categorized into four main categories identified namely: Supply Chain Management, Sales and Operations Planning, Artificial Intelligence and Big Data Analytics. The theory of Sports Marketing is presented as well as an eﬀort-based costing case study of a team of Sports Marketing professionals working in marketing, sales and supply chain management. The costing case study approach provides activity costs calculations as well as the required Full-Time Equivalents per activity. Based on these calculations further performance metrics per activity are calculated.

The Rise of Storytelling as a Marketing Strategy for “Made in Italy” Products

The Rise of Storytelling as a Marketing Strategy for “Made in Italy” Products
(The Rise of Storytelling as a Marketing Strategy for “Made in Italy” Products)

Author(s):Federico de Andreis, Davide Marchisio, Federico Sottoriva
Language:English
Subject(s):Social Sciences, Economy
Page Range:297-307
No. of Pages:12
Summary/Abstract:Storytelling is the process of using fact and narrative to communicate something to the audience. The first approach to storytelling takes place as children, with the dual purpose of imagining a space-time diﬀerent from reality, and secondly that of establishing contact with one's parents, who are required to commit themselves daily, to transmit values and teachings. Popular myths and legends perform four functions that allow human beings to understand themselves, others, the mysteries of life and the universe that surrounds them (Atkinson, 2002). These functions are:- the psychological function: it helps the person to define himself more clearly thanks to the possibility of reordering and deciphering experiences;- the social function: allows the person to understand what he has in common with others and what distinguishes him;- the cosmological-philosophical function: it supports the person in having a clearer vision of her role in the world,- the mystical-religious function: it allows the person to feel awe, wonder, humility and gratitude towards the mysteries that surround them.More and more small and large companies are engaging in a marketing activity called content marketing, considering the idea that storytelling is the key to attracting and retaining customers, especially in culturally far-away markets.Storytelling marketing is a description where the company combines the company's identity with the company's philosophy to create a product or service activity (Salzer-Morling & Stannegard, 2004).In fact, with the global financial crisis of 2009, investors reduced their investments in communication, especially the budget allocated to television (-3.1% in 2011). Conversely, the internet grew (+12.3%) (Nielsen, 2012).But how to communicate a product to a diﬀerent culture not sharing the same ideas, symbols, actions and dispositions of the company?This study aims to analyze which strategies have been applied in the storytelling of typically “Made in Italy” food products and representative of the Italian gastronomic heritage towards Asia.Brieﬂy, the research aims to answer the following questions: RQ 1: Which strategies have been adopted by small-medium-large enterprises in order to promote Italian products into culturally distant markets?RQ 2: Which strategies are eﬀective, in order to be considered also for future business?The research is therefore based on an analysis of the literature on storytelling as a marketing strategy and then goes on to observe some case studies.

Usage of Fear of Missing Out in Promotional Activities – A Research Agenda

Usage of Fear of Missing Out in Promotional Activities – A Research Agenda
(Usage of Fear of Missing Out in Promotional Activities – A Research Agenda)

Author(s):Goran Dedić
Language:English
Subject(s):Social Sciences, Economy
Page Range:306-314
No. of Pages:6
Summary/Abstract:Fear of missing out (FOMO) can be defined as an individual’s pervasive apprehension that others might be having rewarding experiences from which one is absent. Fear of missing out can be considered to arise from deficits in one's need satisfaction and, considering the fact that purchasing behaviour is generally driven by various needs and wants, usage of FOMO-based appeals holds the potential to amplify the eﬀectiveness of those appeals, and the overall eﬀectiveness of promotional activities. This paper provides a research agenda discussing the FOMO phenomena and its implications for promotional activities, primarily highly-targeted ones conducted in digital environments.

Supplying Critical Materials in a Time of Uncertainty

Supplying Critical Materials in a Time of Uncertainty
(Supplying Critical Materials in a Time of Uncertainty)

Author(s):Nikola Radic, Vlado Radic, Nenad Ravić
Language:English
Subject(s):Social Sciences, Economy
Page Range:315-322
No. of Pages:8
Summary/Abstract:The high demand for energy, food, and raw materials is putting an enormous strain on ecosystems around the planet. Therefore, the industrial strategies of many countries rely on the so-called green plan and transition toward climate neutrality. In this sense, the need for new materials greatly exceeds the existing possibilities and capacities. Critical materials are raw materials that have great economic importance and for which there is a probability of shortage. Since the world is facing more and more serious problems, whether it is an economic crisis, a pandemic, or war conﬂicts, the general character of the present and, one would say, future time, is uncertain. Prediction of uncertainty is a task that decision-makers must keep in mind when deciding on the present and the future, not only of economies but of entire ecosystems and populations as a whole. The paper shows how critical materials aﬀect development and growth, and the fulfillment of environmental requirements, using examples from various industries.

Natural Management and the Development of Protected Areas as Sustainable Tourism Spots in Bosnia and Herzegovina

Natural Management and the Development of Protected Areas as Sustainable Tourism Spots in Bosnia and Herzegovina
(Natural Management and the Development of Protected Areas as Sustainable Tourism Spots in Bosnia and Herzegovina)

Author(s):Lejla Žunić
Language:English
Subject(s):Social Sciences, Economy
Page Range:323-337
No. of Pages:323
Summary/Abstract:Bosnia and Herzegovina's Nature Protection Law complies with significant European directives and conventions intended to safeguard habitat and biodiversity. The objectives of the paper are to investigate Bosnia and Herzegovina's legal framework for managing natural resources and to identify protected areas as the spots of sustainable tourism. Bosnia and Herzegovina is home to a wide range of biodiversity due to its three distinct geographical zones, the Mediterranean, Euro Siberian-Bore American, and Alpine-Nordic Highlands. As a result, more protected areas are being established, with Sarajevo creating the first protected area that adheres to IUCN guidelines. Recently, new protected areas have been added to Bosnia and Herzegovina's tourism supply to meet the rising demand for natural places. Bosnia and Herzegovina is perceived as an ecotourism destination by the majority of its citizens, hence the trend toward protected areas is seen as favorable.

Glass Waste Management in the Republic of Croatia: Current Situation and Trends

Glass Waste Management in the Republic of Croatia: Current Situation and Trends
(Glass Waste Management in the Republic of Croatia: Current Situation and Trends)

Author(s):Marija Kustelega,, Magdalena Kustelega, Tamara Šmaguc
Language:English
Subject(s):Social Sciences, Economy
Page Range:339-348
No. of Pages:10
Summary/Abstract:This paper presents the current situation and trends in the waste management system in the Republic of Croatia. The aim of the paper is to identify the main problems in the waste management system based on the analysis of secondary data, and thereby create a basis for empirical research in this area. The paper first discusses the regulatory framework for glass waste management, followed by an analysis of the current situation in the collection and recycling of municipal waste and glass waste packaging in Croatia. The practicality of applying the deposit system is discussed through the analysis of drivers and obstacles in the example of the deposit system for beer bottles. The results show a growing trend in the amount of all waste packaging collected. However, the current situation in the waste management system in Croatia is still not at a satisfactory level, especially regarding the disposal of glass packaging.

A Methodological Framework Enhancing Energy Efficiency Investments in Buildings

A Methodological Framework Enhancing Energy Efficiency Investments in Buildings
(A Methodological Framework Enhancing Energy Efficiency Investments in Buildings)

Author(s):Charikleia Karakosta, Zoi Mylona
Language:English
Subject(s):Social Sciences, Economy
Page Range:349-356
No. of Pages:8
Summary/Abstract:The energy efficiency market is fragmented over many types of projects and contract types, small portfolios and many methods for assessing project risk, which disrupts market growth. These current insufficient trends observed in the renovation rates of buildings reveal the urgent need for action. To address this, appropriate implementation of energy efficiency measures which are adopted by the majority of final energy users is a must, but which are the proper initiatives required to further assist the acceleration of the EE projects' successful implementation? The aim of this paper is to present the methodological framework leading to the creation of an eﬀective energy efficiency marketplace, bringing together energy services and sustainable finance techniques, with the ultimate purpose of accelerating building renovation rates. The methodology is focused on the aggregation of energy projects to packaged solutions, so as to transform the complex set of decision-making actions for building renovation into a user-friendly and single-entry ICT-enabled solution.

The Legal Challenges of the Metaverse: Business Trademarks

The Legal Challenges of the Metaverse: Business Trademarks
(The Legal Challenges of the Metaverse: Business Trademarks)

Author(s):Monica Lastiri Santiago
Language:English
Subject(s):Social Sciences, Economy
Page Range:357-370
No. of Pages:14
Summary/Abstract:The Metaverse is emerging as a hotbed for brand promotion as well as a platform for creating and using intellectual property rights including trademarks. The avatars (users) can create digital objects to sell to other users. Lenders and investors are seeking opportunities to capitalize on new Metaverse markets and digital assets as is the named NFT (not-fungible token) that is the unique data coding that can be visually represented by a digital asset, for example, a virtual handbag.Currently one of the real-world lawsuits involving trademarks and NFTs is the dispute between fashion house Hèrmes vs NFT creator Mason Rothschild. Hermès makes the exclusive line of Birkin handbags and Rothschild started selling NFTs in the form of digital images he named MetaBirkins which are the virtual reproduction of the Hèrmes product. Therefore, the fashion house fled a trademark claim for unauthorized use of their trademark and design.From the above-mentioned lawsuit raises a set of fascinating issues at the intersection of intellectual property law and digital technology. For instance, the unauthorized trademark use in Metaverse, but what, in our view, is the most important challenge is: Can you have a trademark right on an NFT? Trademark owners should be aware of the opportunities and challenges to their brand in virtual worlds.The possibilities for a Metaverse are currently limitless and the investments being made in new Metaverse-related technologies and platforms have grown enormously. Investors and companies are spending purchasing digital land in popular Metaverses to create virtual business spaces where consumers are sold goods, services, or entertainment.

Guarantee of the Right to Online Education in Exceptional Situations: Case Study of the COVID-19 Pandemic

Guarantee of the Right to Online Education in Exceptional Situations: Case Study of the COVID-19 Pandemic
(Guarantee of the Right to Online Education in Exceptional Situations: Case Study of the COVID-19 Pandemic)

Author(s):Nejla Peka
Language:English
Subject(s):Social Sciences, Economy
Page Range:371-376
No. of Pages:6
Summary/Abstract:Covid-19 came as a challenge in human being life. After the announcement of the state of the world pandemic on March 11, 2020, by the World Health Organization, the government reacted to this situation, undertaking a series of measures considering the general interruption of social and economic activities such as closing schools, the prohibition of mass gatherings in closed or open places, the restriction or prohibition of other movements inside and outside the country, which brought the country into total quarantine for about three months. Among other things, the government also presented an action plan for the prevention and response to Covid-19 in May 2020, which provided three pillars of action: prevention, response, and recovery, to continue providing health services to the entire population. While the government's response has necessarily been swift in terms of protecting health and guaranteeing the right to life, the pandemic situation brought a new challenge, in terms of children's well-being and the eﬀective exercise of their rights, especially in the most vulnerable children. In the situation of the global pandemic, international institutions have addressed a series of recommendations and statements for the protection and guarantee of the rights of children and their families.In April 2020, ENOC 2 calls on governments, the European Commission and the Council of Europe to take all appropriate actions to ensure that the rights of all children are guaranteed in accordance with the United Nations Convention on the Rights of the Child. Children's rights and, the comments of the United Nations Committee on the Rights of the Child, should be respected during the Covid-19 health care crisis.

EU Databases: One Evaluation on Recitals through the Look of the Court

EU Databases: One Evaluation on Recitals through the Look of the Court
(EU Databases: One Evaluation on Recitals through the Look of the Court)

Author(s):Albena Dobreva
Language:English
Subject(s):Social Sciences, Economy
Page Range:377-383
No. of Pages:8
Summary/Abstract:Abstract: In February 2022, the European Commission published the proposal of the Data Act, Art. 35 which deals with the sui generis right of database manufacturers. The Database Directive 1996/9/EC has survived again and is about to enter the EU cloud federation almost intact. This fact received several academic headlines while almost overshadowing a landmark decision of the Court of Justice of the European Union. It is the decision in the case C-762/19 – SIA “CV-Online Latvia” v SIA “Melons”, which signals the beginning of a significant change in the existing jurisprudence and has the potential to focus the blurred image of The Directive. The Court attached great importance to recital 42 from her, which gives rise towell-founded interest. This is because the qualitative and quantitative weight of recitals in the jurisprudence of the Court of Justice of the EU is little studied and not at all in the field of the legal protection of databases. It is precisely some selected aspects of the place and the meaning of recitals in the judgments of the Court of Justice of the EU in proceedings on preliminary rulings that occupy a central area in the present study.

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Globalization of the Stock Market and the Impact of Artificial Intelligence on Challenging Businesses

Globalization of the Stock Market and the Impact of Artificial Intelligence on Challenging Businesses (Globalization of the Stock Market and the Impact of Artificial Intelligence on Challenging Businesses)

A Multiple Fluctuations and Detrending Analysis of Financial Market Efficiency: Comparison of Central and Eastern European Stock Indexes

A Multiple Fluctuations and Detrending Analysis of Financial Market Efficiency: Comparison of Central and Eastern European Stock Indexes (A Multiple Fluctuations and Detrending Analysis of Financial Market Efficiency: Comparison of Central and Eastern European Stock Indexes)

Efficiency and Long-Term Correlation in Central and Eastern European Stock Indexes: An Approach in the Context of Extreme Events in 2020 and 2022

Efficiency and Long-Term Correlation in Central and Eastern European Stock Indexes: An Approach in the Context of Extreme Events in 2020 and 2022 (Efficiency and Long-Term Correlation in Central and Eastern European Stock Indexes: An Approach in the Context of Extreme Events in 2020 and 2022)

Linear and Nonlinear Effects on Connectivity Structure: A Comparison of European Stock Markets

Linear and Nonlinear Effects on Connectivity Structure: A Comparison of European Stock Markets (Linear and Nonlinear Effects on Connectivity Structure: A Comparison of European Stock Markets)

The Challenging Consequences of the Russian-Ukrainian Conflict and a New Transition in Global Trade, Energy Market and Oil Prices

The Challenging Consequences of the Russian-Ukrainian Conflict and a New Transition in Global Trade, Energy Market and Oil Prices (The Challenging Consequences of the Russian-Ukrainian Conflict and a New Transition in Global Trade, Energy Market and Oil Prices)

How Much Did the Pandemic Consumption Behaviour Contribute to the Rising Inflation? The North-Western Romanian Households’ Perspectives

How Much Did the Pandemic Consumption Behaviour Contribute to the Rising Inflation? The North-Western Romanian Households’ Perspectives (How Much Did the Pandemic Consumption Behaviour Contribute to the Rising Inflation? The North-Western Romanian Households’ Perspectives)

Importance of Language in Central Banks’ Management of Financial Markets: Creating Trends and New Vocabulary

Importance of Language in Central Banks’ Management of Financial Markets: Creating Trends and New Vocabulary (Importance of Language in Central Banks’ Management of Financial Markets: Creating Trends and New Vocabulary)

Foreign Direct Investment Inflow in the Context of IFRS Adoption: Evidence from Slovakia

Foreign Direct Investment Inflow in the Context of IFRS Adoption: Evidence from Slovakia (Foreign Direct Investment Inflow in the Context of IFRS Adoption: Evidence from Slovakia)

The Impact of Business Support Institutions on the Development of the SME Sector

The Impact of Business Support Institutions on the Development of the SME Sector (The Impact of Business Support Institutions on the Development of the SME Sector)