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Revista y Edición

Volumen 12 (2021): Edición 2 (December 2021)

Volumen 12 (2021): Edición 1 (May 2021)

Volumen 11 (2020): Edición 3 (November 2020)

Volumen 11 (2020): Edición 2 (October 2020)

Volumen 11 (2020): Edición 1 (March 2020)

Volumen 10 (2019): Edición 2 (September 2019)

Volumen 10 (2019): Edición 1 (April 2019)

Volumen 9 (2018): Edición 2 (July 2018)

Volumen 9 (2018): Edición 1 (March 2018)

Volumen 8 (2017): Edición 2 (September 2017)

Volumen 8 (2017): Edición 1 (March 2017)

Volumen 7 (2016): Edición 2 (September 2016)

Volumen 7 (2016): Edición 1 (March 2016)

Volumen 6 (2015): Edición 2 (September 2015)

Volumen 6 (2015): Edición 1 (March 2015)

Volumen 5 (2014): Edición 3 (September 2014)
“Novel solutions or novel approaches in Operational Research” co-published with the Slovenian Society INFORMATIKA – Section for Operational Research (SDI-SOR), Edición Editors: Ksenija Dumičić (University of Zagreb), Lidija Zadnik Stirn (University of Ljubljana), and Janez Žerovnik (University of Ljubljana)

Volumen 5 (2014): Edición 2 (June 2014)

Volumen 5 (2014): Edición 1 (March 2014)
Special Edición: Embedded Systems Applications: Future Society Applications

Volumen 4 (2013): Edición 2 (December 2013)

Volumen 4 (2013): Edición 1 (March 2013)

Volumen 3 (2012): Edición 2 (September 2012)
"Innovative Approaches to Operations Research Methodology and Its Applications in Business, Economics, Management and Social Sciences" co-published with the Slovenian Society INFORMATIKA - Section for Operational Research (SDI-SOR)

Volumen 3 (2012): Edición 1 (June 2012)

Volumen 2 (2011): Edición 2 (June 2011)

Volumen 2 (2011): Edición 1 (January 2011)

Volumen 1 (2010): Edición 1-2 (January 2010)

Detalles de la revista
Formato
Revista
eISSN
1847-9375
Publicado por primera vez
19 Sep 2012
Periodo de publicación
2 veces al año
Idiomas
Inglés

Buscar

Volumen 12 (2021): Edición 2 (December 2021)

Detalles de la revista
Formato
Revista
eISSN
1847-9375
Publicado por primera vez
19 Sep 2012
Periodo de publicación
2 veces al año
Idiomas
Inglés

Buscar

18 Artículos
access type Acceso abierto

Do-it-yourself Marketing and Digital Marketing Adoption: Evidence from a Developing Country

Publicado en línea: 10 Apr 2022
Páginas: 1 - 16

Resumen

Abstract

Background: Digital marketing is a new form of business management and promotion, namely promoting services and products of (SMEs)small and medium enterprises. Despite the importance of digital marketing, SMEs in developing and post-transition countries still do not fully utilize the benefits of digital marketing.

Objectives: This study aims to analyse the DIY (do-it-yourself) model and the impact that this model has on digital marketing adoption.

Methods/Approach: The online survey research was conducted among 194 SME managers in Kosovo. The proposed research model was analysed by partial least square structural equation modelling (PLS-SEM).

Results: Findings show that the degree of perception of ease of use impacts the process of digital marketing adoption. Moreover, the degree of control seems to be the most important factor impacting process of the digital marketing in SMEs.

Conclusions: SMEs use DIY marketing and adopt digital marketing because this form of practicing marketing activities offers more control for companies in their marketing activities. In addition, perceived ease of use of technology facilitates the process of digital marketing adoption among SMEs. Finally, the study provides insights for managers and businesses using DIY marketing and adopting the process of the digital marketing in SMEs.

Palabras clave

  • DIY
  • do-it-yourself
  • digital marketing
  • impact
  • SMEs

JEL Classification

  • M30
  • M31
access type Acceso abierto

A Bibliometric Network Analysis of Green Information Technology and Green Information Systems Research

Publicado en línea: 10 Apr 2022
Páginas: 17 - 45

Resumen

Abstract

Background: In recent years, the concepts of Green Information Technology and Green Information Systems (Green IT/IS) have attracted the attention of many researchers. Several environmental and sustainability studies have suggested that smart usage of Green IT/IS is one of the most important enablers for sustainable development in organizations and plays an essential role in greening the planet.

Objectives: This paper aims to examine the development of the Green IT/IS field based on the published works. The focus is on analysing the keywords of related papers obtained from the Web of Science database.

Methods/Approach: Based on the two-mode network of papers and keywords, the analysis of co-occurrence of keywords is provided. The most frequent keywords discovered by the temporal network analysis are presented from the perspective of the most prominent journals.

Results: The main pillars of knowledge in Green IT/IS research are highlighted, and a chronological map of the field is provided.

Conclusions: Green IT/IS’s studied field shows constant growth in the last decades, and the results indicate the trends of future development in the field. The paper is one of the first studies that apply the bibliographic network analysis approach to the field of Green IT/IS.

Palabras clave

  • Green Information System
  • Green Information Technology
  • bibliographic networks

JEL Classification

  • D85
access type Acceso abierto

Sentiment Analysis of Customer Feedback in Online Food Ordering Services

Publicado en línea: 10 Apr 2022
Páginas: 46 - 59

Resumen

Abstract

Background: E-commerce websites have been established expressly as useful online communication platforms, which is rather significant. Through them, users can easily perform online transactions such as shopping or ordering food and sharing their experiences or feedback.

Objectives: Customers’ views and sentiments are also analyzed by businesses to assess consumer behavior or a point of view on certain products or services.

Methods/Approach: This research proposes a method to extract customers’ opinions and analyse sentiment based on a collected dataset, including 236,867 online Vietnamese reviews published from 2011 to 2020 on foody.vn and diadiemanuong.com. Then, machine learning models were applied and assessed to choose the optimal model.

Results: The proposed approach has an accuracy of up to 91.5 percent, according to experimental study findings.

Conclusions: The research results can help enterprise managers and service providers get insight into customers’ satisfaction with their products or services and understand their feelings so that they can make adjustments and correct business decisions. It also helps food e-commerce managers ensure a better e-commerce service design and delivery.

Palabras clave

  • online feedback
  • food ordering services
  • Vietnamese sentiment analysis
  • text analytics

JEL Classification

  • C61
  • C63
  • C67
access type Acceso abierto

Notes to the Financial Statements: Current State and Improvement

Publicado en línea: 10 Apr 2022
Páginas: 60 - 78

Resumen

Abstract

Background: Prior studies have revealed a disclosure problem in financial statements, primarily in narrative reports. Three main problem areas have been identified: insufficient relevant information, too much irrelevant information, and low-level communication. Micro and small entities face the most difficulties.

Objectives: The main objective of this research is to propose a solution to existing disclosure problems to contribute towards improving the quality of financial reporting of smaller entities.

Methods/Approach: To improve the reporting model for smaller entities, a survey has been conducted using a structured questionnaire on a sample of non-financial entities registered in Croatia. Based on results interpretations, standardized notes have been proposed.

Results: 167 respondents have shared their thoughts about current disclosure issues and possible improvements, showing their awareness of disclosure problems and willingness for change. Given their opinions, the proposal has been made.

Conclusions: The main contribution of the paper is the creation of a proposal for standardized, integrated, and digitalized notes to the financial statements based on the principle of materiality, primarily addressed to micro but also small entities from the non-financial sector. The paper extends previous proposals which did not focus on their structure and digitalization.

Palabras clave

  • disclosure problems
  • financial statements
  • notes
  • micro and small entities
  • standardization
  • integration
  • digitalization
  • the principle of materiality

JEL Classification

  • D22
  • M19
  • M41
access type Acceso abierto

Blended Learning and Student Satisfaction: The Moderating Effect of Student Performance

Publicado en línea: 10 Apr 2022
Páginas: 79 - 94

Resumen

Abstract

Background: Blended learning is a new approach to teaching and learning created by combining traditional classroom learning with an online learning platform. In recent years, blended learning has become an increasingly popular form of e-learning. It is particularly suitable for transitioning from completely traditional forms of learning to online learning.

Objectives: This paper aims to examine the effect of blended learning on students’ performance and satisfaction and showcase whether students’ satisfaction with blended learning leads to performance improvement.

Methods/Approach: A quantitative research design has been utilized for data collection, consisting of a questionnaire administered to a sample of three hundred and nineteen (319) students from bachelor and master study programs at South East European University (SEEU) in N. Macedonia. Data gathered through this questionnaire have been analyzed through structural equation modelling (SEM).

Results: The results show that blended learning influences students’ performance and satisfaction.

Conclusions: Course management and interaction positively impact students’ satisfaction and performance. The interaction has a more significant effect on both satisfaction and performance outcomes from blended learning. The main conclusion is that blended learning contributes to students’ satisfaction which eventually leads to students’ improved performance.

Palabras clave

  • blended learning
  • learning platform
  • performance
  • satisfaction

JEL Classification

  • I2
  • I23
  • I230
access type Acceso abierto

The Partnership Network Structure of Automakers under Radical Technological Change

Publicado en línea: 10 Apr 2022
Páginas: 95 - 113

Resumen

Abstract

Background: Traditionally, dense network structures have dominated partnerships in the automotive industry. On the other hand, previous research in other industries has shown that network structures suitable for radical innovation include weak ties, structural holes and betweenness centrality.

Objective: The purpose of this research is to empirically analyse the effect of the ongoing and radical change in the business environment within the automotive industry, referred to as CASE (connected, autonomous/automated, shared, and electric), on the network structure of the partnerships of automobile manufacturers.

Methods/Approach: The methodology of this study is based on the use of real data on partnerships of car manufacturers around the world, analysed using social network analysis methods.

Results/Findings: The analysis confirms that there is a significant correlation between the degree of the CASE approach, the number of weak ties and the size of structural holes. In addition, several cases showed significant differences in the network structure between new technology ventures and existing legacy technology firms. The findings highlight the insight that the network structure of the automotive industry is likely to change significantly in the future due to technological innovation.

Palabras clave

  • Partnership network
  • Social network analysis
  • technology change
  • automobile industry

JEL Classification

  • M11
access type Acceso abierto

Information System Implementation in Healthcare: Case Study of Croatia

Publicado en línea: 10 Apr 2022
Páginas: 114 - 124

Resumen

Abstract

Background: In today’s environment, health professionals are overwhelmed by the rapid pace of advancement in both information technology and medical practice.

Objectives: This paper aims to point out the importance of developing an electronic health record system that will meet the needs of all stakeholders in healthcare, support health professionals’ work, and enable continuous quality improvement at all levels and in all healthcare segments.

Methods/Approach: Non-systematic literature review has been used to develop a discussion on the healthcare systems’ usage.

Results: Close cooperation of participants at all levels is essential for the quality implementation and application of digital solutions in healthcare.

Conclusions: The paper highlights the factors that contribute to the acceptance of the public healthcare information system in the Republic of Croatia, which is being developed according to the EU regulations.

Palabras clave

  • health information system
  • healthcare
  • organization and management in health
  • e-health in the EU
  • e-health in Croatia

JEL Classification

  • I1M
  • O39
  • O19
access type Acceso abierto

The Effects of Electronic Surveillance on Job Tension, Task Performance and Organizational Trust

Publicado en línea: 10 Apr 2022
Páginas: 125 - 143

Resumen

Abstract

Background: In contemporary work models, employees use the Internet and electronic devices more than ever. This phenomenon has also changed the way of monitoring employees and generated a new form called ‘electronic surveillance’.

Objectives: The central purpose of this paper is to reveal the effects of electronic surveillance on job tension, task performance, and employees’ organizational trust.

Methods/Approach: Survey research was applied as a quantitative method to collect data. Surveys were generated as Likert-type scales, and they were distributed by hand because the use of the in-person survey technique was employed throughout the study. The research sample was created using the purposive sampling technique, and it included 228 participants from fifteen different branches of one of the biggest private banks in Turkey.

Results: Electronic surveillance in the workplace has turned out to have positive effects on job tension and task performance, whereas it harms organizational trust.

Conclusions: When the degree of electronic surveillance increases, the job tension level of employees tends to increase as well. Additionally, task performance increases when electronic surveillance increases. But this is not the case with organizational trust since electronic surveillance affects it negatively.

Palabras clave

  • electronic surveillance
  • electronic monitoring
  • job tension
  • task performance
  • organizational trust

JEL Classification

  • M12
  • M54
access type Acceso abierto

The Co-innovation Bingo: An Object-Oriented Networking Mechanism to Foster Coupled Open Business Innovation

Publicado en línea: 10 Apr 2022
Páginas: 144 - 159

Resumen

Abstract

Background: A firm’s cooperative strategies are a fundamental issue in the search for business growth avenues, but a system that eases the emergence of coupled open innovation appears to be missing.

Objectives: This paper describes a business networking tool to foster coupled open innovation emergence.

Methods/Approach: We adopted a methodology based on design science comparable to grounded theory because solutions emerged by testing a design artefact with companies.

Results: We designed and tested an artefact designed as a game to encourage participants to meet as many partners as possible. It is based on collaborative innovation mechanisms and gets inspiration from fields such as organization design, service design, and prospective design. The proposed artefact comes as prescriptive rules that support managers’ open innovation opportunity elicitation.

Conclusions: From a practical point of view, we contribute by helping companies find emergent open innovation opportunities. From a theoretical point of view, this artefact is part of an emergent theory of object-oriented coupled open innovation mechanisms.

Palabras clave

  • collaborative innovation
  • coupled open innovation
  • innovation mechanisms
  • design science
  • gamification

JEL Classification

  • O36
access type Acceso abierto

The Intertwined Functions of Advanced Information Systems and Management Control Practice in a Municipal Context

Publicado en línea: 10 Apr 2022
Páginas: 160 - 171

Resumen

Abstract

Background: Advanced, integrated information systems such as an enterprise resource planning (ERP) system have nowadays come to play such a crucial role for organizations and functions such as management accounting and control that in many cases, they would not function without the support of these systems. Public sector operations in general and municipal operations, in particular, are complex and require a lot of resources. Because of this, the managers working within this context need the support of advanced information systems to a large extent.

Objectives: This paper aims at understanding how these new systems and their users, accountants, and controllers, perceive the opportunities they bring in a municipal setting.

Methods/Approach: Out of 290 Swedish municipalities, 97 participated in the survey.

Results: The results show that these systems have come to play an important part in working with management accounting and control issues.

Conclusions: One conclusion that could be drawn from this study is that information supported by advanced information systems has become such an important necessity that management accounting as a function or phenomenon would not work without it. Therefore, the interdependency between information systems and management accounting and control practice could be described as intertwined.

Palabras clave

  • advanced information systems
  • management accounting and control practice
  • public sector

JEL Classification

  • D22
  • M41
access type Acceso abierto

The Appropriate Work Environment for Older Employees: The Case of Slovenia

Publicado en línea: 10 Apr 2022
Páginas: 172 - 186

Resumen

Abstract

Background: The increase in population life expectancy in developed economies is also reflected in the aging of the workforce; therefore, enterprises should create an appropriate work environment for all employees, emphasizing the older ones.

Objectives: The major objectives of this paper are to establish the impact of appropriate working conditions and training programs for older employees on their work motivation, as well as to establish the latter’s impact on the older employees’ work engagement in Slovenian medium-sized and large enterprises.

Methods/Approach: Structural equation modeling explored the links between four constructs – appropriate working conditions, training programs, work motivation, and work engagement.

Results: In Slovenian enterprises, appropriate working conditions and training programs for older employees positively impact their work motivation. Moreover, the work motivation of older employees positively impacts their work engagement.

Conclusions: These findings can be useful for employers or managers for developing targeted employee motivation and employee engagement programs to leverage the talents and dedication of older employees.

Palabras clave

  • appropriate work environment
  • older employees
  • enterprises
  • structural equation modeling

JEL Classification

  • J24
  • I19
  • C38
access type Acceso abierto

Market Structure Development in a Regulated Market: The Case of the EU Rating Agencies

Publicado en línea: 10 Apr 2022
Páginas: 187 - 199

Resumen

Abstract

Background: The motivation for this article is the observation of political and private efforts to establish an EU-based rating agency as a counterweight to the three major agencies and observe other approaches to increase competition in the rating market.

Objectives: This article aims to analyse the potential regulatory impact of the oligopo-listic situation on the European Union (EU) rating market in the regulation imposed on the agencies.

Methods/Approach: Selected key figures are applied to observe if and how the dominance has changed. The different rating service range offered by the registered rating agencies in the EU is also considered in the analysis.

Results: The re-search results show that new agencies potentially impact the EU rating market. While the three major rating agencies still dominate the market, they do so within a chang-ing environment.

Conclusions: The employment of external ratings is significant in the financial sector. Ratings provide relevant information on the default risk of financial instruments and assess the solvency of issuers. The market for external ratings thereby can be classified as oligopolistic. Turbulences during the financial crisis of 2008 trig-gered stricter regulation of the credit rating agencies. Such regulation has now been in force for a good decade.

Palabras clave

  • Credit rating agencies (CRAs)
  • ratings
  • regulation
  • EU-Regulation
  • sustaina-bility ratings
  • corporate finance
  • capital markets

JEL Classification

  • G24
  • G28
  • Q56
access type Acceso abierto

Motivational Factors and Retention of Talented Managers

Publicado en línea: 10 Apr 2022
Páginas: 200 - 220

Resumen

Abstract

Background: In a contemporary fast-changing world, companies are facing growing global competition, volatile markets, altered workforce structure, and another technological reshifting, which generates enormous pressure on them to improve their business performance and imposes the necessity to highlight practices of talent management more seriously.

Objectives: In this study we explore interrelations between attraction/work motivational factors and talent retention, observed through talent engagement.

Methods/Approach: The methodology in this research focuses on the comprehensive resource-based view and encompasses quantitative analysis based on data gathered from talented managers in Bosnia and Herzegovina.

Results: The research results unveiled that talents were attracted to work for current companies primarily because of: good salary and company goodwill. The top three prevalent work motivational factors for talents included: (1) comfortable work environment, (2) enough autonomy and creativity in working and deciding, and (3) work-life balance. Furthermore, talent motivational factors related to talent retention in a statistically significant positive way.

Conclusions: This study furnishes available talent research and theory by relating attraction/work motivational factors to talent engagement; and by introducing the fundamental motivational factors which are of monumental importance for retaining talented managers in Bosnia and Herzegovina.

Palabras clave

  • human resource management
  • talent motivation
  • talent management
  • talent attraction
  • talent retention

JEL Classification

  • J24
  • O15
access type Acceso abierto

The Citizen Observatory: Enabling Next Generation Citizen Science

Publicado en línea: 10 Apr 2022
Páginas: 221 - 235

Resumen

Abstract

Background: Citizen science offers an attractive paradigm for addressing some of the complex problems facing society. However, translating the paradigm’s potential into meaningful action and sustainable impact remains a formidable challenge. Historically, the citizen science landscape was fractured into silos of activities; nonetheless, it has demonstrably delivered credible results. An innovative concept of the Citizen Observatory offers a tractable means of mitigating many of the recurring issues that historically afflicted citizen science initiatives, thus empowering a new generation of citizen scientists. Citizen Observatories may be regarded as open, standardised software platforms for community-based monitoring of any phenomenon of interest.

Objectives: This paper seeks to validate a Citizen Observatory in a traditional citizen science context, that of butterfly recording.

Methods/Approach: A case study was undertaken in a UNESCO-designated Biosphere Reserve.

Results: A community of citizen scientists successfully recorded various observations concerning butterflies, their feeding behaviours, and their habitat. The resultant dataset was made available to the local government environmental agency.

Conclusions: The Citizen Observatory model offers a realistic basis for enabling more sustainable participatory science activities. Such developments have implications for non-government organisations, businesses, and local governments.

Palabras clave

  • citizen science
  • Citizen Observatory
  • open science
  • participatory science

JEL Classification

  • Q55
  • Q01
  • O35
access type Acceso abierto

Entrepreneurial Orientation, Strategic Networking, and Croatian SMEs Performance: A Configurational Approach

Publicado en línea: 10 Apr 2022
Páginas: 236 - 252

Resumen

Abstract

Background: Many studies on entrepreneurship indicate an affirmative entrepreneurial orientation (EO) and small firm performance interrelationship. However, the empirical results are inconclusive, especially when firms face certain contingencies.

Objectives: Strategic networking and environmental dynamism are important to SMEs’ performance; therefore, the goal of this study is to apply a configurational approach for developing a model that promotes the roles of strategic networking and environmental dynamism as moderating variables in the EO-performance relationship.

Methods/Approach: For determining which model fits the data best, a moderated linear regression analysis was used as an analytical method to test the proposed hypotheses. Specifically, configurational, contingency and universal models were examined.

Results: Results reveal that a configurational model provides a statistically better explanation of variance in performance compared to both contingency and universal models.

Conclusions: By adding strategic networking to the EO-performance relationship, our study helps explain why some firms, although restrained with internal resources, can still achieve entrepreneurial projects since required resources can be acquired from external network partners. Limitations of this study encompass the sample size, the use of a subjective scale, questioning of only one representative of the firm, and the short-term aspect of the study.

Palabras clave

  • entrepreneurial orientation
  • strategic networking
  • configurational approach
  • SME
  • Croatia

JEL Classification

  • L25
  • L26
  • M20
  • O30
access type Acceso abierto

Capital Market Returns and Inflation Nexus in Croatia: Wavelet Coherence Analysis

Publicado en línea: 10 Apr 2022
Páginas: 253 - 267

Resumen

Abstract

Background: Hedging against inflation assumes instruments such as gold, stocks, fixed income securities, and real estate. There still exists a lack of appropriate strategy to hedge against inflation.

Objectives: This paper examines the possibilities for hedging against inflation in Croatia offered by the Zagreb Stock Exchange indices.

Methods/Approach: Based on monthly data from January 2000 to September 2019 and using a wavelet coherence approach, this paper brings the results across time and frequency domains.

Results: Empirical results suggest that inflation was a leading variable in a statistically significant positive correlation between the inflation rate and Crobex returns in 2007-2011. The relationship between Crobex10, Crobis, and Crobistr returns on one side, and the inflation rate on the other side has statistically significant correlations only in specific and different periods, in which respective returns are a leading variable.

Conclusions: The results imply that hedging against inflation is rather problematic under current Croatian capital markets conditions. Zagreb Stock Exchange indices could serve as a hedge against inflation for some periods but not during the whole observation period.

Palabras clave

  • inflation
  • hedging
  • wavelet analysis
  • stock market index

JEL Classification

  • E31
  • E37
  • G11
access type Acceso abierto

Performance of Value and Growth Stocks in the Aftermath of the Global Financial Crisis

Publicado en línea: 10 Apr 2022
Páginas: 268 - 283

Resumen

Abstract

Background: Due to strong empirical evidence from different markets, existence of value premium became a financial theory standpoint. Although previous studies found that value stocks beat growth stocks in bearish and bullish markets, during the GFC, value stocks underperformed growth stocks.

Objectives: This paper aims to examine the performance of value and growth stock portfolios after the GFC. Subjects of our analysis are constituent companies of the DJIA index, out of which portfolios of large-cap value and growth stocks have been constructed and evaluated.

Methods/Approach: We measure the performance of stock portfolios, which are created based on the naïve diversification rule and random weighting approach. Statistical testing includes Levene’s homogeneity test, the Mann-Whitney U test, T-test, and the One-Sample T-test.

Results: Growth stock portfolios outperform value stock portfolios after the GFC. The dominance of growth stock portfolios compared to value stock portfolios is significant, and the value premium disappears.

Conclusions: Financial theory and investment management implications show that growth stocks have overtaken the dominance over value stocks since 2009. Causes might be in (1) expansionary monetary policy characterized by very low long-term interest rates and (2) high performance of the tech industry to which most growth stocks belong.

Palabras clave

  • value premium
  • Dow Jones Industrial Average
  • investment strategies
  • naïve diversification

JEL Classification

  • G11
  • G12
  • G14
access type Acceso abierto

Innovativeness of Family Businesses in Slovenia: Do Heirs follow the Founders?

Publicado en línea: 10 Apr 2022
Páginas: 284 - 304

Resumen

Abstract

Background: The innovativeness of founders and their heirs and family businesses (FBs) is a relatively unexplored field of research, and its understanding is incomplete and inconsistent.

Objectives: The goal is to compare the founders’ innovativeness and investigate the relationship of life-long learning with the innovativeness of heirs in FBs.

Methods/Approach: The paper is based on research, including a survey on FBs in Slovenia. The differences in the innovativeness of the two groups – founders and heirs are compared, and the strength of the dependence of the life-long learning and innovativeness through the external training of heirs determined.

Results: The innovativeness of founders and heirs in FBs, measured by the number of new product and service lines and by the number of new processes that founders and heirs in FBs have developed or started marketing in the last five years, shows higher results for the founders. Life-long learning through external training correlates positively with the innovativeness of heirs.

Conclusions: An appropriate culture for innovation needs to be created in FBs to foster innovativeness among heirs, which can be supported by life-long learning.

Palabras clave

  • family business
  • entrepreneurship
  • innovativeness
  • life-long learning

JEL Classification

  • L26
  • O31
18 Artículos
access type Acceso abierto

Do-it-yourself Marketing and Digital Marketing Adoption: Evidence from a Developing Country

Publicado en línea: 10 Apr 2022
Páginas: 1 - 16

Resumen

Abstract

Background: Digital marketing is a new form of business management and promotion, namely promoting services and products of (SMEs)small and medium enterprises. Despite the importance of digital marketing, SMEs in developing and post-transition countries still do not fully utilize the benefits of digital marketing.

Objectives: This study aims to analyse the DIY (do-it-yourself) model and the impact that this model has on digital marketing adoption.

Methods/Approach: The online survey research was conducted among 194 SME managers in Kosovo. The proposed research model was analysed by partial least square structural equation modelling (PLS-SEM).

Results: Findings show that the degree of perception of ease of use impacts the process of digital marketing adoption. Moreover, the degree of control seems to be the most important factor impacting process of the digital marketing in SMEs.

Conclusions: SMEs use DIY marketing and adopt digital marketing because this form of practicing marketing activities offers more control for companies in their marketing activities. In addition, perceived ease of use of technology facilitates the process of digital marketing adoption among SMEs. Finally, the study provides insights for managers and businesses using DIY marketing and adopting the process of the digital marketing in SMEs.

Palabras clave

  • DIY
  • do-it-yourself
  • digital marketing
  • impact
  • SMEs

JEL Classification

  • M30
  • M31
access type Acceso abierto

A Bibliometric Network Analysis of Green Information Technology and Green Information Systems Research

Publicado en línea: 10 Apr 2022
Páginas: 17 - 45

Resumen

Abstract

Background: In recent years, the concepts of Green Information Technology and Green Information Systems (Green IT/IS) have attracted the attention of many researchers. Several environmental and sustainability studies have suggested that smart usage of Green IT/IS is one of the most important enablers for sustainable development in organizations and plays an essential role in greening the planet.

Objectives: This paper aims to examine the development of the Green IT/IS field based on the published works. The focus is on analysing the keywords of related papers obtained from the Web of Science database.

Methods/Approach: Based on the two-mode network of papers and keywords, the analysis of co-occurrence of keywords is provided. The most frequent keywords discovered by the temporal network analysis are presented from the perspective of the most prominent journals.

Results: The main pillars of knowledge in Green IT/IS research are highlighted, and a chronological map of the field is provided.

Conclusions: Green IT/IS’s studied field shows constant growth in the last decades, and the results indicate the trends of future development in the field. The paper is one of the first studies that apply the bibliographic network analysis approach to the field of Green IT/IS.

Palabras clave

  • Green Information System
  • Green Information Technology
  • bibliographic networks

JEL Classification

  • D85
access type Acceso abierto

Sentiment Analysis of Customer Feedback in Online Food Ordering Services

Publicado en línea: 10 Apr 2022
Páginas: 46 - 59

Resumen

Abstract

Background: E-commerce websites have been established expressly as useful online communication platforms, which is rather significant. Through them, users can easily perform online transactions such as shopping or ordering food and sharing their experiences or feedback.

Objectives: Customers’ views and sentiments are also analyzed by businesses to assess consumer behavior or a point of view on certain products or services.

Methods/Approach: This research proposes a method to extract customers’ opinions and analyse sentiment based on a collected dataset, including 236,867 online Vietnamese reviews published from 2011 to 2020 on foody.vn and diadiemanuong.com. Then, machine learning models were applied and assessed to choose the optimal model.

Results: The proposed approach has an accuracy of up to 91.5 percent, according to experimental study findings.

Conclusions: The research results can help enterprise managers and service providers get insight into customers’ satisfaction with their products or services and understand their feelings so that they can make adjustments and correct business decisions. It also helps food e-commerce managers ensure a better e-commerce service design and delivery.

Palabras clave

  • online feedback
  • food ordering services
  • Vietnamese sentiment analysis
  • text analytics

JEL Classification

  • C61
  • C63
  • C67
access type Acceso abierto

Notes to the Financial Statements: Current State and Improvement

Publicado en línea: 10 Apr 2022
Páginas: 60 - 78

Resumen

Abstract

Background: Prior studies have revealed a disclosure problem in financial statements, primarily in narrative reports. Three main problem areas have been identified: insufficient relevant information, too much irrelevant information, and low-level communication. Micro and small entities face the most difficulties.

Objectives: The main objective of this research is to propose a solution to existing disclosure problems to contribute towards improving the quality of financial reporting of smaller entities.

Methods/Approach: To improve the reporting model for smaller entities, a survey has been conducted using a structured questionnaire on a sample of non-financial entities registered in Croatia. Based on results interpretations, standardized notes have been proposed.

Results: 167 respondents have shared their thoughts about current disclosure issues and possible improvements, showing their awareness of disclosure problems and willingness for change. Given their opinions, the proposal has been made.

Conclusions: The main contribution of the paper is the creation of a proposal for standardized, integrated, and digitalized notes to the financial statements based on the principle of materiality, primarily addressed to micro but also small entities from the non-financial sector. The paper extends previous proposals which did not focus on their structure and digitalization.

Palabras clave

  • disclosure problems
  • financial statements
  • notes
  • micro and small entities
  • standardization
  • integration
  • digitalization
  • the principle of materiality

JEL Classification

  • D22
  • M19
  • M41
access type Acceso abierto

Blended Learning and Student Satisfaction: The Moderating Effect of Student Performance

Publicado en línea: 10 Apr 2022
Páginas: 79 - 94

Resumen

Abstract

Background: Blended learning is a new approach to teaching and learning created by combining traditional classroom learning with an online learning platform. In recent years, blended learning has become an increasingly popular form of e-learning. It is particularly suitable for transitioning from completely traditional forms of learning to online learning.

Objectives: This paper aims to examine the effect of blended learning on students’ performance and satisfaction and showcase whether students’ satisfaction with blended learning leads to performance improvement.

Methods/Approach: A quantitative research design has been utilized for data collection, consisting of a questionnaire administered to a sample of three hundred and nineteen (319) students from bachelor and master study programs at South East European University (SEEU) in N. Macedonia. Data gathered through this questionnaire have been analyzed through structural equation modelling (SEM).

Results: The results show that blended learning influences students’ performance and satisfaction.

Conclusions: Course management and interaction positively impact students’ satisfaction and performance. The interaction has a more significant effect on both satisfaction and performance outcomes from blended learning. The main conclusion is that blended learning contributes to students’ satisfaction which eventually leads to students’ improved performance.

Palabras clave

  • blended learning
  • learning platform
  • performance
  • satisfaction

JEL Classification

  • I2
  • I23
  • I230
access type Acceso abierto

The Partnership Network Structure of Automakers under Radical Technological Change

Publicado en línea: 10 Apr 2022
Páginas: 95 - 113

Resumen

Abstract

Background: Traditionally, dense network structures have dominated partnerships in the automotive industry. On the other hand, previous research in other industries has shown that network structures suitable for radical innovation include weak ties, structural holes and betweenness centrality.

Objective: The purpose of this research is to empirically analyse the effect of the ongoing and radical change in the business environment within the automotive industry, referred to as CASE (connected, autonomous/automated, shared, and electric), on the network structure of the partnerships of automobile manufacturers.

Methods/Approach: The methodology of this study is based on the use of real data on partnerships of car manufacturers around the world, analysed using social network analysis methods.

Results/Findings: The analysis confirms that there is a significant correlation between the degree of the CASE approach, the number of weak ties and the size of structural holes. In addition, several cases showed significant differences in the network structure between new technology ventures and existing legacy technology firms. The findings highlight the insight that the network structure of the automotive industry is likely to change significantly in the future due to technological innovation.

Palabras clave

  • Partnership network
  • Social network analysis
  • technology change
  • automobile industry

JEL Classification

  • M11
access type Acceso abierto

Information System Implementation in Healthcare: Case Study of Croatia

Publicado en línea: 10 Apr 2022
Páginas: 114 - 124

Resumen

Abstract

Background: In today’s environment, health professionals are overwhelmed by the rapid pace of advancement in both information technology and medical practice.

Objectives: This paper aims to point out the importance of developing an electronic health record system that will meet the needs of all stakeholders in healthcare, support health professionals’ work, and enable continuous quality improvement at all levels and in all healthcare segments.

Methods/Approach: Non-systematic literature review has been used to develop a discussion on the healthcare systems’ usage.

Results: Close cooperation of participants at all levels is essential for the quality implementation and application of digital solutions in healthcare.

Conclusions: The paper highlights the factors that contribute to the acceptance of the public healthcare information system in the Republic of Croatia, which is being developed according to the EU regulations.

Palabras clave

  • health information system
  • healthcare
  • organization and management in health
  • e-health in the EU
  • e-health in Croatia

JEL Classification

  • I1M
  • O39
  • O19
access type Acceso abierto

The Effects of Electronic Surveillance on Job Tension, Task Performance and Organizational Trust

Publicado en línea: 10 Apr 2022
Páginas: 125 - 143

Resumen

Abstract

Background: In contemporary work models, employees use the Internet and electronic devices more than ever. This phenomenon has also changed the way of monitoring employees and generated a new form called ‘electronic surveillance’.

Objectives: The central purpose of this paper is to reveal the effects of electronic surveillance on job tension, task performance, and employees’ organizational trust.

Methods/Approach: Survey research was applied as a quantitative method to collect data. Surveys were generated as Likert-type scales, and they were distributed by hand because the use of the in-person survey technique was employed throughout the study. The research sample was created using the purposive sampling technique, and it included 228 participants from fifteen different branches of one of the biggest private banks in Turkey.

Results: Electronic surveillance in the workplace has turned out to have positive effects on job tension and task performance, whereas it harms organizational trust.

Conclusions: When the degree of electronic surveillance increases, the job tension level of employees tends to increase as well. Additionally, task performance increases when electronic surveillance increases. But this is not the case with organizational trust since electronic surveillance affects it negatively.

Palabras clave

  • electronic surveillance
  • electronic monitoring
  • job tension
  • task performance
  • organizational trust

JEL Classification

  • M12
  • M54
access type Acceso abierto

The Co-innovation Bingo: An Object-Oriented Networking Mechanism to Foster Coupled Open Business Innovation

Publicado en línea: 10 Apr 2022
Páginas: 144 - 159

Resumen

Abstract

Background: A firm’s cooperative strategies are a fundamental issue in the search for business growth avenues, but a system that eases the emergence of coupled open innovation appears to be missing.

Objectives: This paper describes a business networking tool to foster coupled open innovation emergence.

Methods/Approach: We adopted a methodology based on design science comparable to grounded theory because solutions emerged by testing a design artefact with companies.

Results: We designed and tested an artefact designed as a game to encourage participants to meet as many partners as possible. It is based on collaborative innovation mechanisms and gets inspiration from fields such as organization design, service design, and prospective design. The proposed artefact comes as prescriptive rules that support managers’ open innovation opportunity elicitation.

Conclusions: From a practical point of view, we contribute by helping companies find emergent open innovation opportunities. From a theoretical point of view, this artefact is part of an emergent theory of object-oriented coupled open innovation mechanisms.

Palabras clave

  • collaborative innovation
  • coupled open innovation
  • innovation mechanisms
  • design science
  • gamification

JEL Classification

  • O36
access type Acceso abierto

The Intertwined Functions of Advanced Information Systems and Management Control Practice in a Municipal Context

Publicado en línea: 10 Apr 2022
Páginas: 160 - 171

Resumen

Abstract

Background: Advanced, integrated information systems such as an enterprise resource planning (ERP) system have nowadays come to play such a crucial role for organizations and functions such as management accounting and control that in many cases, they would not function without the support of these systems. Public sector operations in general and municipal operations, in particular, are complex and require a lot of resources. Because of this, the managers working within this context need the support of advanced information systems to a large extent.

Objectives: This paper aims at understanding how these new systems and their users, accountants, and controllers, perceive the opportunities they bring in a municipal setting.

Methods/Approach: Out of 290 Swedish municipalities, 97 participated in the survey.

Results: The results show that these systems have come to play an important part in working with management accounting and control issues.

Conclusions: One conclusion that could be drawn from this study is that information supported by advanced information systems has become such an important necessity that management accounting as a function or phenomenon would not work without it. Therefore, the interdependency between information systems and management accounting and control practice could be described as intertwined.

Palabras clave

  • advanced information systems
  • management accounting and control practice
  • public sector

JEL Classification

  • D22
  • M41
access type Acceso abierto

The Appropriate Work Environment for Older Employees: The Case of Slovenia

Publicado en línea: 10 Apr 2022
Páginas: 172 - 186

Resumen

Abstract

Background: The increase in population life expectancy in developed economies is also reflected in the aging of the workforce; therefore, enterprises should create an appropriate work environment for all employees, emphasizing the older ones.

Objectives: The major objectives of this paper are to establish the impact of appropriate working conditions and training programs for older employees on their work motivation, as well as to establish the latter’s impact on the older employees’ work engagement in Slovenian medium-sized and large enterprises.

Methods/Approach: Structural equation modeling explored the links between four constructs – appropriate working conditions, training programs, work motivation, and work engagement.

Results: In Slovenian enterprises, appropriate working conditions and training programs for older employees positively impact their work motivation. Moreover, the work motivation of older employees positively impacts their work engagement.

Conclusions: These findings can be useful for employers or managers for developing targeted employee motivation and employee engagement programs to leverage the talents and dedication of older employees.

Palabras clave

  • appropriate work environment
  • older employees
  • enterprises
  • structural equation modeling

JEL Classification

  • J24
  • I19
  • C38
access type Acceso abierto

Market Structure Development in a Regulated Market: The Case of the EU Rating Agencies

Publicado en línea: 10 Apr 2022
Páginas: 187 - 199

Resumen

Abstract

Background: The motivation for this article is the observation of political and private efforts to establish an EU-based rating agency as a counterweight to the three major agencies and observe other approaches to increase competition in the rating market.

Objectives: This article aims to analyse the potential regulatory impact of the oligopo-listic situation on the European Union (EU) rating market in the regulation imposed on the agencies.

Methods/Approach: Selected key figures are applied to observe if and how the dominance has changed. The different rating service range offered by the registered rating agencies in the EU is also considered in the analysis.

Results: The re-search results show that new agencies potentially impact the EU rating market. While the three major rating agencies still dominate the market, they do so within a chang-ing environment.

Conclusions: The employment of external ratings is significant in the financial sector. Ratings provide relevant information on the default risk of financial instruments and assess the solvency of issuers. The market for external ratings thereby can be classified as oligopolistic. Turbulences during the financial crisis of 2008 trig-gered stricter regulation of the credit rating agencies. Such regulation has now been in force for a good decade.

Palabras clave

  • Credit rating agencies (CRAs)
  • ratings
  • regulation
  • EU-Regulation
  • sustaina-bility ratings
  • corporate finance
  • capital markets

JEL Classification

  • G24
  • G28
  • Q56
access type Acceso abierto

Motivational Factors and Retention of Talented Managers

Publicado en línea: 10 Apr 2022
Páginas: 200 - 220

Resumen

Abstract

Background: In a contemporary fast-changing world, companies are facing growing global competition, volatile markets, altered workforce structure, and another technological reshifting, which generates enormous pressure on them to improve their business performance and imposes the necessity to highlight practices of talent management more seriously.

Objectives: In this study we explore interrelations between attraction/work motivational factors and talent retention, observed through talent engagement.

Methods/Approach: The methodology in this research focuses on the comprehensive resource-based view and encompasses quantitative analysis based on data gathered from talented managers in Bosnia and Herzegovina.

Results: The research results unveiled that talents were attracted to work for current companies primarily because of: good salary and company goodwill. The top three prevalent work motivational factors for talents included: (1) comfortable work environment, (2) enough autonomy and creativity in working and deciding, and (3) work-life balance. Furthermore, talent motivational factors related to talent retention in a statistically significant positive way.

Conclusions: This study furnishes available talent research and theory by relating attraction/work motivational factors to talent engagement; and by introducing the fundamental motivational factors which are of monumental importance for retaining talented managers in Bosnia and Herzegovina.

Palabras clave

  • human resource management
  • talent motivation
  • talent management
  • talent attraction
  • talent retention

JEL Classification

  • J24
  • O15
access type Acceso abierto

The Citizen Observatory: Enabling Next Generation Citizen Science

Publicado en línea: 10 Apr 2022
Páginas: 221 - 235

Resumen

Abstract

Background: Citizen science offers an attractive paradigm for addressing some of the complex problems facing society. However, translating the paradigm’s potential into meaningful action and sustainable impact remains a formidable challenge. Historically, the citizen science landscape was fractured into silos of activities; nonetheless, it has demonstrably delivered credible results. An innovative concept of the Citizen Observatory offers a tractable means of mitigating many of the recurring issues that historically afflicted citizen science initiatives, thus empowering a new generation of citizen scientists. Citizen Observatories may be regarded as open, standardised software platforms for community-based monitoring of any phenomenon of interest.

Objectives: This paper seeks to validate a Citizen Observatory in a traditional citizen science context, that of butterfly recording.

Methods/Approach: A case study was undertaken in a UNESCO-designated Biosphere Reserve.

Results: A community of citizen scientists successfully recorded various observations concerning butterflies, their feeding behaviours, and their habitat. The resultant dataset was made available to the local government environmental agency.

Conclusions: The Citizen Observatory model offers a realistic basis for enabling more sustainable participatory science activities. Such developments have implications for non-government organisations, businesses, and local governments.

Palabras clave

  • citizen science
  • Citizen Observatory
  • open science
  • participatory science

JEL Classification

  • Q55
  • Q01
  • O35
access type Acceso abierto

Entrepreneurial Orientation, Strategic Networking, and Croatian SMEs Performance: A Configurational Approach

Publicado en línea: 10 Apr 2022
Páginas: 236 - 252

Resumen

Abstract

Background: Many studies on entrepreneurship indicate an affirmative entrepreneurial orientation (EO) and small firm performance interrelationship. However, the empirical results are inconclusive, especially when firms face certain contingencies.

Objectives: Strategic networking and environmental dynamism are important to SMEs’ performance; therefore, the goal of this study is to apply a configurational approach for developing a model that promotes the roles of strategic networking and environmental dynamism as moderating variables in the EO-performance relationship.

Methods/Approach: For determining which model fits the data best, a moderated linear regression analysis was used as an analytical method to test the proposed hypotheses. Specifically, configurational, contingency and universal models were examined.

Results: Results reveal that a configurational model provides a statistically better explanation of variance in performance compared to both contingency and universal models.

Conclusions: By adding strategic networking to the EO-performance relationship, our study helps explain why some firms, although restrained with internal resources, can still achieve entrepreneurial projects since required resources can be acquired from external network partners. Limitations of this study encompass the sample size, the use of a subjective scale, questioning of only one representative of the firm, and the short-term aspect of the study.

Palabras clave

  • entrepreneurial orientation
  • strategic networking
  • configurational approach
  • SME
  • Croatia

JEL Classification

  • L25
  • L26
  • M20
  • O30
access type Acceso abierto

Capital Market Returns and Inflation Nexus in Croatia: Wavelet Coherence Analysis

Publicado en línea: 10 Apr 2022
Páginas: 253 - 267

Resumen

Abstract

Background: Hedging against inflation assumes instruments such as gold, stocks, fixed income securities, and real estate. There still exists a lack of appropriate strategy to hedge against inflation.

Objectives: This paper examines the possibilities for hedging against inflation in Croatia offered by the Zagreb Stock Exchange indices.

Methods/Approach: Based on monthly data from January 2000 to September 2019 and using a wavelet coherence approach, this paper brings the results across time and frequency domains.

Results: Empirical results suggest that inflation was a leading variable in a statistically significant positive correlation between the inflation rate and Crobex returns in 2007-2011. The relationship between Crobex10, Crobis, and Crobistr returns on one side, and the inflation rate on the other side has statistically significant correlations only in specific and different periods, in which respective returns are a leading variable.

Conclusions: The results imply that hedging against inflation is rather problematic under current Croatian capital markets conditions. Zagreb Stock Exchange indices could serve as a hedge against inflation for some periods but not during the whole observation period.

Palabras clave

  • inflation
  • hedging
  • wavelet analysis
  • stock market index

JEL Classification

  • E31
  • E37
  • G11
access type Acceso abierto

Performance of Value and Growth Stocks in the Aftermath of the Global Financial Crisis

Publicado en línea: 10 Apr 2022
Páginas: 268 - 283

Resumen

Abstract

Background: Due to strong empirical evidence from different markets, existence of value premium became a financial theory standpoint. Although previous studies found that value stocks beat growth stocks in bearish and bullish markets, during the GFC, value stocks underperformed growth stocks.

Objectives: This paper aims to examine the performance of value and growth stock portfolios after the GFC. Subjects of our analysis are constituent companies of the DJIA index, out of which portfolios of large-cap value and growth stocks have been constructed and evaluated.

Methods/Approach: We measure the performance of stock portfolios, which are created based on the naïve diversification rule and random weighting approach. Statistical testing includes Levene’s homogeneity test, the Mann-Whitney U test, T-test, and the One-Sample T-test.

Results: Growth stock portfolios outperform value stock portfolios after the GFC. The dominance of growth stock portfolios compared to value stock portfolios is significant, and the value premium disappears.

Conclusions: Financial theory and investment management implications show that growth stocks have overtaken the dominance over value stocks since 2009. Causes might be in (1) expansionary monetary policy characterized by very low long-term interest rates and (2) high performance of the tech industry to which most growth stocks belong.

Palabras clave

  • value premium
  • Dow Jones Industrial Average
  • investment strategies
  • naïve diversification

JEL Classification

  • G11
  • G12
  • G14
access type Acceso abierto

Innovativeness of Family Businesses in Slovenia: Do Heirs follow the Founders?

Publicado en línea: 10 Apr 2022
Páginas: 284 - 304

Resumen

Abstract

Background: The innovativeness of founders and their heirs and family businesses (FBs) is a relatively unexplored field of research, and its understanding is incomplete and inconsistent.

Objectives: The goal is to compare the founders’ innovativeness and investigate the relationship of life-long learning with the innovativeness of heirs in FBs.

Methods/Approach: The paper is based on research, including a survey on FBs in Slovenia. The differences in the innovativeness of the two groups – founders and heirs are compared, and the strength of the dependence of the life-long learning and innovativeness through the external training of heirs determined.

Results: The innovativeness of founders and heirs in FBs, measured by the number of new product and service lines and by the number of new processes that founders and heirs in FBs have developed or started marketing in the last five years, shows higher results for the founders. Life-long learning through external training correlates positively with the innovativeness of heirs.

Conclusions: An appropriate culture for innovation needs to be created in FBs to foster innovativeness among heirs, which can be supported by life-long learning.

Palabras clave

  • family business
  • entrepreneurship
  • innovativeness
  • life-long learning

JEL Classification

  • L26
  • O31

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