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

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Special Edition: Embedded Systems Applications: Future Society Applications

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Volume 3 (2012): Edition 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)

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Détails du magazine
Format
Magazine
eISSN
1847-9375
Première publication
19 Sep 2012
Période de publication
2 fois par an
Langues
Anglais

Chercher

Volume 6 (2015): Edition 2 (September 2015)

Détails du magazine
Format
Magazine
eISSN
1847-9375
Première publication
19 Sep 2012
Période de publication
2 fois par an
Langues
Anglais

Chercher

7 Articles
access type Accès libre

Impact of ICT Innovative Momentum on Real-Time Accounting

Publié en ligne: 20 Oct 2015
Pages: 1 - 17

Résumé

Abstract

Background: Enterprises are entering into the era of the real-time economy, also called the “now economy”, which can be characterized by a substantive acceleration of business measurement, assessment and decision processes. The real-time reporting, as a phenomenon of the now economy, presents a new challenge to the Accounting Information Systems. The current long wave of prosperity is characterized by an innovative momentum of ICT, with several disruptive innovations, far from being completely utilized.

Objectives: Possible future potentialities and consequences of this innovative momentum of ICT on the real-time reporting are analysed within a network scenario approach.

Methods/Approach: The used approach is the Futures Wheel, a structured brainstorming method that structures ideas about future events, issues, trends, and strategy, organised under several layers of rings of consequences.

Results: The innovative momentum has certain visible direct consequences such as smart mobile devices, higher business intelligence, improved enterprise architecture and enterprise application integration, cloud services offer or increased business process maturity in organizations, and a significant number of indirect consequences on the real-time accounting.

Conclusions: The actual innovative momentum of ICT has a vast set of indirect opportunities for the real-time reporting which, after a proper plan, can address its implementation.

Mots clés

  • real-time accounting
  • real-time reporting
  • accounting information system
  • ERP
  • disruptive innovations

JEL classification:

  • M4
access type Accès libre

Data Mining as Support to Knowledge Management in Marketing

Publié en ligne: 20 Oct 2015
Pages: 18 - 30

Résumé

Abstract

Background: Previous research has shown success of data mining methods in marketing. However, their integration in a knowledge management system is still not investigated enough.

Objectives: The purpose of this paper is to suggest an integration of two data mining techniques: neural networks and association rules in marketing modeling that could serve as an input to knowledge management and produce better marketing decisions.

Methods/Approach: Association rules and artificial neural networks are combined in a data mining component to discover patterns and customers’ profiles in frequent item purchases. The results of data mining are used in a web-based knowledge management component to trigger ideas for new marketing strategies. The model is tested by an experimental research.

Results: The results show that the suggested model could be efficiently used to recognize patterns in shopping behaviour and generate new marketing strategies.

Conclusions: The scientific contribution lies in proposing an integrative data mining approach that could present support to knowledge management. The research could be useful to marketing and retail managers in improving the process of their decision making, as well as to researchers in the area of marketing modelling. Future studies should include more samples and other data mining techniques in order to test the model generalization ability.

Mots clés

  • association rules
  • data mining
  • knowledge management
  • marketing
  • neural networks

JEL classification:

  • C4
  • C45
access type Accès libre

XBRL Standard for Financial Reporting in Croatia: Current State and Perspectives

Publié en ligne: 20 Oct 2015
Pages: 31 - 40

Résumé

Abstract

Background: Harmonization and standardization is becoming important among regulators and business community. XBRL has entered the global stage as a financial reporting standard. Its mission was to standardize the financial reporting, lower the reporting costs and make the reporting as transparent as possible.

Objectives: The goal of the paper is to review the current usage of XBRL as a standard worldwide and to give an overview of its current state and perspectives in Croatia.

Methods/Approach: The secondary research method for examining XBRL as a standard has been applied in this work.

Results: The European Union embraced XBRL as the only standard that will be used for mandatory financial reporting and as such it is implemented in EU legislation. Croatia is a new member state and XBRL usage, which is still limited in Croatia, presents one of the country’s challenges.

Conclusions: XBRL is the new standard for financial reporting that has had its place and usage in practice for several years now. It is adopted as a mandatory reporting standard in in most countries of the world, but not without barriers.

Mots clés

  • eXtensible Business Reporting Language (XBRL)
  • extensible markup language (XML)
  • financial reporting standard
  • financial information
  • Europe
  • Croatia
  • perspectives

JEL classification:

  • O14
access type Accès libre

Industry Productivity Growth: A Network Perspective

Publié en ligne: 20 Oct 2015
Pages: 41 - 51

Résumé

Abstract

Background: This study investigates the determinants of industrial productivity growth from a network perspective.

Objectives: The research focuses on the influence on a focal industry’s productivity growth by its partner industries’ productivity growth, and the impact of the focal industry’s position in the supply chain network.

Method/Approach: The paper models the economy as a customer-supplier industry network and empirically investigates how a focal industry’s multifactor productivity is influenced by the productivities of industries that are connected to it, and how this influence is moderated by its position in the network.

Results: Based on a balanced panel dataset of 55 industries from the United States Bureau of Economic Analysis (BEA) input-output accounts, the results indicate that a focal industry’s productivity growth is positively associated with its partner industries’ productivity growth, and that industries with higher centrality in the network tend to have higher productivity growth.

Conclusions: The study concludes with a discussion on the implications of the findings and the contribution to the productivity literature. Several directions for further research were identified.

Mots clés

  • industry network
  • multi-productivity
  • network centrality
  • network perspective
  • customer-supplier industry network

JEL classification:

  • M21
access type Accès libre

Differences between Croatia and EU Candidate Countries: the CAGE Distance Framework

Publié en ligne: 20 Oct 2015
Pages: 52 - 62

Résumé

Abstract

Background: Nowadays, international cooperation is unevenly divided among countries. The decisive criteria imply cultural, administrative, geographical, and economical closeness among countries. Therefore, understanding such factors can significantly facilitate the performance of the company on foreign market.

Objectives: The goal of this paper is to identify the fundamental differences between Croatia and the EU candidate countries through a comprehensive and systematic analysis of the determinants within the CAGE Distance Framework. This systematic analysis can significantly intensify Croatia’s international exchange and improve Croatia’s performance at important foreign markets.

Methods/Approach: Research comprises original datasets on distance factors within CAGE distance framework. With cultural, administrative, geographic and economic data of Croatia and EU candidate countries, empirical support about the impact of distinctions on international exchange has been given.

Results: Cultural and geographical similarities are particularly noticeable among Croatia and EU candidate countries, although there are also no significant differences in the administrative and the economic dimension. However, Turkey is the only country that somewhat differs in each segment.

Conclusions: Similarities have significant influence on cross-border trade. With all present similarities and differences, cooperation among Croatia and the EU candidate countries has a perspective for development, especially at a time when all candidate countries join the EU.

Mots clés

  • the CAGE Distance Framework
  • Croatia
  • EU candidate countries

JEL classification:

  • F02
access type Accès libre

Corporate Social Responsibility Reporting: Differences among Selected EU Countries

Publié en ligne: 20 Oct 2015
Pages: 63 - 73

Résumé

Abstract

Background: Greater transparency has become a relevant topic for companies around the world. Information and communication technologies revolution (ICT revolution) has forced companies to become more transparent. With the intention of increasing companies’ transparency, the European Union (hereinafter: the EU) has presented a new Accounting Directive 2013/34/EU which makes Corporate Social Reporting (hereinafter: CSR reporting) mandatory for certain companies.

Objectives: EU Directives should be the same for all Member States; however, some authors have concluded that CSR reporting is different in companies of different sizes, industries or from different countries. The main objective of this paper is to research into differences of CSR reporting among selected EU countries.

Methods/Approach: The Global Reporting Initiative (hereinafter: GRI) has shaped a reporting framework for CSR reporting. In this research the GRI will be used for comparison of CSR reports of different countries.

Results: Results of this research revealed that the difference in CSR reporting is statistically significant among selected EU countries.

Conclusions: As CSR reporting in the EU will become mandatory for certain companies, it will be a challenge for Member States to harmonize their national legislation to a degree which will increase companies’ transparency and at the same time protect local resources and interests of stakeholders.

Mots clés

  • Corporate Social Responsibility reporting
  • Global Reporting Initiative
  • CSR reporting framework
  • European Union

JEL classification:

  • O1
  • Q01
access type Accès libre

Market power and stability of CEE banks

Publié en ligne: 20 Oct 2015
Pages: 74 - 90

Résumé

Abstract

Background: In spite of growing number of empirical studies, especially after the start of financial crisis, literature fails to provide conclusive answers on the relationship between bank competition and stability.

Objective: We contribute to the existing literature by conducting a bank level analysis of market power implications on CEE bank stability and test weather bank market power increases bank stability.

Approach: On the sample of 415 CEE banks from 1997-2012, we use Distribution free approach to generate bank specific market power and efficiency indicators and then run a fixed effects panel regression.

Results: We find evidence supporting the Competition - fragility view; banks with more market power are more stable. Also, we find evidence that this stability is a result of lower portfolio risk supporting the franchise value channel.

Conclusions: For banks in CEE countries where economic crisis increased risk materialization, increasing competition from the early 2000s, may have been a factor decreasing bank stability which may bear significant implications for upcoming years when competition is likely to increase further.

Mots clés

  • bank competition
  • bank stability
  • CEE countries

JEL classification:

  • D43
  • E40
  • E53
7 Articles
access type Accès libre

Impact of ICT Innovative Momentum on Real-Time Accounting

Publié en ligne: 20 Oct 2015
Pages: 1 - 17

Résumé

Abstract

Background: Enterprises are entering into the era of the real-time economy, also called the “now economy”, which can be characterized by a substantive acceleration of business measurement, assessment and decision processes. The real-time reporting, as a phenomenon of the now economy, presents a new challenge to the Accounting Information Systems. The current long wave of prosperity is characterized by an innovative momentum of ICT, with several disruptive innovations, far from being completely utilized.

Objectives: Possible future potentialities and consequences of this innovative momentum of ICT on the real-time reporting are analysed within a network scenario approach.

Methods/Approach: The used approach is the Futures Wheel, a structured brainstorming method that structures ideas about future events, issues, trends, and strategy, organised under several layers of rings of consequences.

Results: The innovative momentum has certain visible direct consequences such as smart mobile devices, higher business intelligence, improved enterprise architecture and enterprise application integration, cloud services offer or increased business process maturity in organizations, and a significant number of indirect consequences on the real-time accounting.

Conclusions: The actual innovative momentum of ICT has a vast set of indirect opportunities for the real-time reporting which, after a proper plan, can address its implementation.

Mots clés

  • real-time accounting
  • real-time reporting
  • accounting information system
  • ERP
  • disruptive innovations

JEL classification:

  • M4
access type Accès libre

Data Mining as Support to Knowledge Management in Marketing

Publié en ligne: 20 Oct 2015
Pages: 18 - 30

Résumé

Abstract

Background: Previous research has shown success of data mining methods in marketing. However, their integration in a knowledge management system is still not investigated enough.

Objectives: The purpose of this paper is to suggest an integration of two data mining techniques: neural networks and association rules in marketing modeling that could serve as an input to knowledge management and produce better marketing decisions.

Methods/Approach: Association rules and artificial neural networks are combined in a data mining component to discover patterns and customers’ profiles in frequent item purchases. The results of data mining are used in a web-based knowledge management component to trigger ideas for new marketing strategies. The model is tested by an experimental research.

Results: The results show that the suggested model could be efficiently used to recognize patterns in shopping behaviour and generate new marketing strategies.

Conclusions: The scientific contribution lies in proposing an integrative data mining approach that could present support to knowledge management. The research could be useful to marketing and retail managers in improving the process of their decision making, as well as to researchers in the area of marketing modelling. Future studies should include more samples and other data mining techniques in order to test the model generalization ability.

Mots clés

  • association rules
  • data mining
  • knowledge management
  • marketing
  • neural networks

JEL classification:

  • C4
  • C45
access type Accès libre

XBRL Standard for Financial Reporting in Croatia: Current State and Perspectives

Publié en ligne: 20 Oct 2015
Pages: 31 - 40

Résumé

Abstract

Background: Harmonization and standardization is becoming important among regulators and business community. XBRL has entered the global stage as a financial reporting standard. Its mission was to standardize the financial reporting, lower the reporting costs and make the reporting as transparent as possible.

Objectives: The goal of the paper is to review the current usage of XBRL as a standard worldwide and to give an overview of its current state and perspectives in Croatia.

Methods/Approach: The secondary research method for examining XBRL as a standard has been applied in this work.

Results: The European Union embraced XBRL as the only standard that will be used for mandatory financial reporting and as such it is implemented in EU legislation. Croatia is a new member state and XBRL usage, which is still limited in Croatia, presents one of the country’s challenges.

Conclusions: XBRL is the new standard for financial reporting that has had its place and usage in practice for several years now. It is adopted as a mandatory reporting standard in in most countries of the world, but not without barriers.

Mots clés

  • eXtensible Business Reporting Language (XBRL)
  • extensible markup language (XML)
  • financial reporting standard
  • financial information
  • Europe
  • Croatia
  • perspectives

JEL classification:

  • O14
access type Accès libre

Industry Productivity Growth: A Network Perspective

Publié en ligne: 20 Oct 2015
Pages: 41 - 51

Résumé

Abstract

Background: This study investigates the determinants of industrial productivity growth from a network perspective.

Objectives: The research focuses on the influence on a focal industry’s productivity growth by its partner industries’ productivity growth, and the impact of the focal industry’s position in the supply chain network.

Method/Approach: The paper models the economy as a customer-supplier industry network and empirically investigates how a focal industry’s multifactor productivity is influenced by the productivities of industries that are connected to it, and how this influence is moderated by its position in the network.

Results: Based on a balanced panel dataset of 55 industries from the United States Bureau of Economic Analysis (BEA) input-output accounts, the results indicate that a focal industry’s productivity growth is positively associated with its partner industries’ productivity growth, and that industries with higher centrality in the network tend to have higher productivity growth.

Conclusions: The study concludes with a discussion on the implications of the findings and the contribution to the productivity literature. Several directions for further research were identified.

Mots clés

  • industry network
  • multi-productivity
  • network centrality
  • network perspective
  • customer-supplier industry network

JEL classification:

  • M21
access type Accès libre

Differences between Croatia and EU Candidate Countries: the CAGE Distance Framework

Publié en ligne: 20 Oct 2015
Pages: 52 - 62

Résumé

Abstract

Background: Nowadays, international cooperation is unevenly divided among countries. The decisive criteria imply cultural, administrative, geographical, and economical closeness among countries. Therefore, understanding such factors can significantly facilitate the performance of the company on foreign market.

Objectives: The goal of this paper is to identify the fundamental differences between Croatia and the EU candidate countries through a comprehensive and systematic analysis of the determinants within the CAGE Distance Framework. This systematic analysis can significantly intensify Croatia’s international exchange and improve Croatia’s performance at important foreign markets.

Methods/Approach: Research comprises original datasets on distance factors within CAGE distance framework. With cultural, administrative, geographic and economic data of Croatia and EU candidate countries, empirical support about the impact of distinctions on international exchange has been given.

Results: Cultural and geographical similarities are particularly noticeable among Croatia and EU candidate countries, although there are also no significant differences in the administrative and the economic dimension. However, Turkey is the only country that somewhat differs in each segment.

Conclusions: Similarities have significant influence on cross-border trade. With all present similarities and differences, cooperation among Croatia and the EU candidate countries has a perspective for development, especially at a time when all candidate countries join the EU.

Mots clés

  • the CAGE Distance Framework
  • Croatia
  • EU candidate countries

JEL classification:

  • F02
access type Accès libre

Corporate Social Responsibility Reporting: Differences among Selected EU Countries

Publié en ligne: 20 Oct 2015
Pages: 63 - 73

Résumé

Abstract

Background: Greater transparency has become a relevant topic for companies around the world. Information and communication technologies revolution (ICT revolution) has forced companies to become more transparent. With the intention of increasing companies’ transparency, the European Union (hereinafter: the EU) has presented a new Accounting Directive 2013/34/EU which makes Corporate Social Reporting (hereinafter: CSR reporting) mandatory for certain companies.

Objectives: EU Directives should be the same for all Member States; however, some authors have concluded that CSR reporting is different in companies of different sizes, industries or from different countries. The main objective of this paper is to research into differences of CSR reporting among selected EU countries.

Methods/Approach: The Global Reporting Initiative (hereinafter: GRI) has shaped a reporting framework for CSR reporting. In this research the GRI will be used for comparison of CSR reports of different countries.

Results: Results of this research revealed that the difference in CSR reporting is statistically significant among selected EU countries.

Conclusions: As CSR reporting in the EU will become mandatory for certain companies, it will be a challenge for Member States to harmonize their national legislation to a degree which will increase companies’ transparency and at the same time protect local resources and interests of stakeholders.

Mots clés

  • Corporate Social Responsibility reporting
  • Global Reporting Initiative
  • CSR reporting framework
  • European Union

JEL classification:

  • O1
  • Q01
access type Accès libre

Market power and stability of CEE banks

Publié en ligne: 20 Oct 2015
Pages: 74 - 90

Résumé

Abstract

Background: In spite of growing number of empirical studies, especially after the start of financial crisis, literature fails to provide conclusive answers on the relationship between bank competition and stability.

Objective: We contribute to the existing literature by conducting a bank level analysis of market power implications on CEE bank stability and test weather bank market power increases bank stability.

Approach: On the sample of 415 CEE banks from 1997-2012, we use Distribution free approach to generate bank specific market power and efficiency indicators and then run a fixed effects panel regression.

Results: We find evidence supporting the Competition - fragility view; banks with more market power are more stable. Also, we find evidence that this stability is a result of lower portfolio risk supporting the franchise value channel.

Conclusions: For banks in CEE countries where economic crisis increased risk materialization, increasing competition from the early 2000s, may have been a factor decreasing bank stability which may bear significant implications for upcoming years when competition is likely to increase further.

Mots clés

  • bank competition
  • bank stability
  • CEE countries

JEL classification:

  • D43
  • E40
  • E53

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