<abstract xmlns="http://www.w3.org/1999/xhtml">The subject of this research represents analysis of internationalisation activity of early-stage entrepreneurs in South East Europe region (SEE). The goal of this study is to determine characteristics of export oriented entrepreneurs from SEE region through the study of factors influencing international orientation. Geographical area of this research consists of countries from the South East Europe region. The research sample was formed on the basis of GEM - Global Individual Level Data, covering six countries (Slovenia, Croatia, Hungary, Romania, Bosnia and Herzegovina, and FYR of Macedonia), 12027 respondents of which 645 export-oriented entrepreneurs were identified. Collected data are processed using the software package for statistical analysis. With the help of Ordinal Logistic regression, significant influence of individual factors on the international orientation of entrepreneurs was identified. Research results showed that entrepreneurial motives, entrepreneurial KSA’s, innovation and new technology have a positive relationship with internationalization activity. One of the significant limitations of this paper is the lower Nagelkerk coefficient, which is characteristic for social phenomena. Bearing in mind the fact that this research trying to explain entrepreneurial behaviour, lower coefficients can be very meaningfull.</abstract>

Determinants of Export Oriented Entrepreneurs from Southeast Europe Region

<abstract xmlns="http://www.w3.org/1999/xhtml">Intangible assets and knowledge are key drivers of today’s economy, called knowledge economy, as a consequence of globalisation process and information and communication technology development. Knowledge and intellectual capital became leading factors that provide basis for gaining superior performance and sustainable competitive advantage of firms in dynamic and uncertain business environments. Invisible goods based on knowledge are becoming more important in generating and successful managing businesses. The purpose of this research is to test the impact of human resources on creation of the firm or, in other words, to examine individual’s inclination toward becoming an entrepreneur in transition economy such as Bosnia and Herzegovina. While investigating the relationship between human resources and firm creation, additional social, economic and emotional factors are included in analysis. Proposed theoretical model is tested using logistic regression model to analyse a sample of 2.015 individuals in Bosnia and Herzegovina, as a participant in GEM project in 2014. Obtained results show that the amount of individual’s knowledge, skills and expertise and its capability to seek and recognize new entrepreneurial opportunities, considered as human resources owned by individual, increase probability to generate a firm in Bosnia and Herzegovina. Beside human resources, certain economic and social factors, such as work status and social perception of entrepreneurship as an attractive profession, are important for firm creation in Bosnia and Herzegovina.</abstract>

An Econometric Analysis of the Effects of Human Resources and other Factors on Firm Creation

<abstract xmlns="http://www.w3.org/1999/xhtml">Customers, their needs, wishes and expectations have to be in the focus of each market-oriented enterprise, whose aim is to survive and develop in the conditions of continuous changes of environment and pronounced degree of competence. The aim of this paper is to emphasise the importance of customer satisfaction linked to service quality using theoretical survey and empirical research, point to factors that influence its level and present the measurement models in order to provide adequate reaction of the enterprise. Special attention is paid to the examination of relationship between the customer satisfaction, expectations, loyalty and service quality. The establishment and maintenance of long-term relationships based on high level of satisfaction through delivery of superior service quality leads to customer loyalty, whereby loyalty is a precondition for repurchase and realisation of business success of an enterprise. Since banking sector is extremely turbulent and characterised by strong competition, the empirical research conducted by the author using SERVQUAL model is aimed at examination of the satisfaction level of bank service customers and consequently making relevant recommendations and conclusions.</abstract>

Examination of Satisfaction Level of Bank Service Customers Using Servqual Model

<abstract xmlns="http://www.w3.org/1999/xhtml">The textile industry is still significantly involved in production and employment in developed countries and is a major source of growth in many developing countries. As a business with a long history, the textile industry undergoes radical transformations at a global level. With the emergence of new competitors, global business conditions have changed significantly. Nevertheless, European manufacturers have remained world leaders in the production of industrial textiles and fashion clothing. Many European manufacturers resort to subcontracting or relocating capacity for labour-intensive activities in countries with lower labour costs, such as Serbia, in order to maintain competitiveness. The greatest success of the domestic textile industry was recorded in the late 1980s when it was a significant source of employment, the creation of added value and more balanced regional development. Although it is still not at the level of the 1980s, positive developments in the domestic textile industry appeared in 2016 in the direction of growth in production, employment and exports. The state seeks to accelerate the development of the textile industry through the subsidisation of foreign and domestic investors. However, growth that is primarily based on foreign direct investment is a long-term unsustainable concept. In order for growth to be sustainable, it is necessary to encourage the development of activities that produce greater added value and increase competitiveness. That is the reason why it is necessary to support the development of domestic enterprises, as well as the arrival of those foreign investments that generate multiple levels of added value.</abstract>

Faculty of Economics in Kosovska Mitrovica

Ministry of Economy, Department of Investments

Development Performance of the Textile Industry of Serbia

<abstract xmlns="http://www.w3.org/1999/xhtml">In this paper, a discriminant analysis, as useful tool to predict potential demand in Serbian motels, is presented. Through the presented literature review, it was determined that there is not a large number of surveys dealing with the needs and demand of transit tourists. Despite that, transit tourism is one of the priority forms of tourism for the Republic of Serbia in accordance with the established Tourism Development Strategy for the Republic of Serbia for the current period. Questionnaire survey as the main method for data collection is used. According to the results, 14 dimensions of potential guests’ expectations are extracted. The results of discriminant function analysis (DFA) present the impact of potential motel guests’ expectations on the main reason for travelling, while the results of canonical varieties analysis (CVA) present the impact of potential motel guests’ expectations on preferred services in Serbian motels.</abstract>

Faculty of Sciences, University of Novi Sad

Discriminant Analysis - Useful Tool for Predicting Demand in Serbian Motels

<abstract xmlns="http://www.w3.org/1999/xhtml">The aim of this paper is to examine the factors that explain the observed differences in inward foreign direct investment (FDI) performance between the peripheral southern eurozone countries (namely Greece and Portugal) and the eight Eastern EU members (Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, and Slovenia) that joined in 2004. The empirical analysis, which is based on the estimation of a panel-econometric model during the 2004-2016 period, provides for Greece and Portugal policy relevant insights with respect to improving the international competitiveness and attracting more FDI inflows vis-a-vis Eastern EU countries, which have outperformed the two southern eurozone members. The results indicate that, among other factors, positive differences in labour costs and corporate tax rates between southern eurozone members and Eastern EU member states largely explain the observed differences in inward FDI performance among those two country groups. The higher labour costs and corporate taxation in Greece and Portugal exhibit a strong negative impact on their relative inward FDI performance vis-avis Eastern EU members. Furthermore, differences in economic openness and integration into vertical production networks also have a significant effect on inward FDI performance.</abstract>

Differences in Inward FDI Performance Between the Southern Eurozone and Eastern EU Members: A Panel-Data Analysis Over 2004-2016

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Economic Themes

 The Faculty of Economics in Niš publishes the journal Economic Themes within the Center for Publishing. According to the categorization of the Ministry of Education and Science of the Republic of Serbia the journal is classified as the leading journal of national importance (M51) and is issued quarterly (in Serbian and English). In the upcoming period we wish to implement two important aims: first, to continually enhance the quality of the journal in compliance with generally accepted standards and second, to improve the ranking of the journal in the following years. All articles sent for publishing are anonymously reviewed.  Rejection Rate   App. 28%  Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 