Rivista e Edizione

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Volume 67 (2021): Edizione 2 (June 2021)

Volume 67 (2021): Edizione 1 (March 2021)

Volume 66 (2020): Edizione 4 (December 2020)

Volume 66 (2020): Edizione 3 (September 2020)

Volume 66 (2020): Edizione 2 (June 2020)

Volume 66 (2020): Edizione 1 (March 2020)

Volume 65 (2019): Edizione 4 (December 2019)

Volume 65 (2019): Edizione 3 (September 2019)

Volume 65 (2019): Edizione 2 (June 2019)

Volume 65 (2019): Edizione 1 (March 2019)

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Volume 64 (2018): Edizione 3 (September 2018)

Volume 64 (2018): Edizione 2 (June 2018)

Volume 64 (2018): Edizione 1 (March 2018)

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Volume 63 (2017): Edizione 2 (June 2017)

Volume 63 (2017): Edizione 1 (March 2017)

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Volume 62 (2016): Edizione 1 (March 2016)

Volume 61 (2015): Edizione 6 (December 2015)

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Volume 61 (2015): Edizione 3 (June 2015)

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Dettagli della rivista
Formato
Rivista
eISSN
2385-8052
Pubblicato per la prima volta
22 Feb 2015
Periodo di pubblicazione
4 volte all'anno
Lingue
Inglese

Cerca

Volume 65 (2019): Edizione 3 (September 2019)

Dettagli della rivista
Formato
Rivista
eISSN
2385-8052
Pubblicato per la prima volta
22 Feb 2015
Periodo di pubblicazione
4 volte all'anno
Lingue
Inglese

Cerca

5 Articoli
Accesso libero

Labour Supply and Inequality Effects of In-Work Benefits: Evidence from Serbia

Pubblicato online: 04 Oct 2019
Pagine: 1 - 22

Astratto

Abstract

Low labour market participation, together with the high effective tax wedge at low wage levels, create a fertile ground for the introduction of the in-work benefits (IWB) in Serbia. Our paper provides an ex-ante evaluation of the two IWB schemes, directed at stimulating the labour supply and more equal income distribution. The methodological approach combines the tax-and-benefit microsimulation model with the discrete labour supply model. Our results show that both individual and family-based IWB schemes would considerably boost labour market participation, although family-based benefits would have disincentivizing effects for the secondary earners in couples. Most of the behavioural changes take place among the poorest individuals, with significant redistributive effects.

Parole chiave

  • in-work benefits
  • labour supply
  • inequality
  • discrete choice model
  • microsimulation

JEL Classification

  • J22
  • H24
  • D31
  • I32
Accesso libero

Infrastructure Indices: Comparative Analysis of Performance, Risk and Representation of Global Listed Proxies

Pubblicato online: 04 Oct 2019
Pagine: 23 - 39

Astratto

Abstract

Faced with historically low interest rates, investors are looking further into illiquid assets such as infrastructure in search of alternative sources of income, better diversification and a long-term investment perspective. This paper analyzes the key performance and risk characteristics of the EDHECinfra global unlisted infrastructure equity index when compared to the main global listed infrastructure indices during the 2001-2018 period. The descriptive statistics method is applied to determine the representation of the benchmarks commonly used by investors considering infrastructure investments. For the purpose of the market beta analysis, the MSCI World index is also used as a global equities proxy in a linear regression model.

Listed infrastructure is often considered as an income-yielding and defensive equity strategy that provides a liquid proxy for alternative assets (e.g., infrastructure). However, the paper results indicate that the net effect of investing in listed infrastructure remains questionable, even unknown. Recent empirical findings demonstrate divergent stands on benchmarking infrastructure. The high correlation of the main listed infrastructure indices with the broad equity index MSCI World and the inconsistency of research results thus far suggest that infrastructure is an ill-defined investment category within the listed infrastructure space with lacking reliable and useful benchmarking. The commonly used and far-reaching classification of companies with broad industrial nature and business activities that are less relevant to infrastructure may affect the overall representation of the legitimate characteristics of the infrastructure asset class amid the growing enthusiasm among investors.

Parole chiave

  • infrastructure
  • index
  • benchmarking
  • listed equity
  • performance analysis

JEL Classification

  • G10
  • G11
  • G15
  • G23
  • H54
Accesso libero

Development of Trade Relations of Bosnia and Hercegovina with Slovenia: Different Aspects and Characteristics

Pubblicato online: 04 Oct 2019
Pagine: 40 - 49

Astratto

Abstract

The paper is aimed at identifying characteristics of trade relations of Bosnia and Herzegovina (BiH) with the Republic of Slovenia (Slovenia) in order to contribute to determining the position of BiH in its bilateral trade. The foreign trade analysis has been performed in the context of the changing trade regime between the two countries, thereby including both institutional and functional aspects of bilateral trade relations development. Different trade indicators have been calculated and interpreted for the period of 2003-2017 and/or for selected years which were identified by a change in the institutional regulations of mutual trade flows. The research results indicate increasing trade intensity between the two countries, with almost balanced export and import flows and with prevailing inter-industry trade. The trade performance of BiH has significantly improved, with increasing intra-industry specialization and trade. However, the export structure and comparative advantage pattern are not favourable toward BiH, which points to the need for improving the country’s position in its trade with Slovenia.

Parole chiave

  • trade relations
  • trade regime
  • bilateral trade analysis
  • Bosnia and Herzegovina (BiH)
  • the Republic of Slovenia (Slovenia)

JEL Classification

  • F10
  • F13
  • F14
Accesso libero

The Structure of Design Orientation and its Relationship with Market Orientation

Pubblicato online: 04 Oct 2019
Pagine: 50 - 62

Astratto

Abstract

Although market orientation has been investigated in numerous studies, its complex relationship with design orientation lacks research attention, especially in countries with transitional economies. Therefore, existing models of market orientation (MO) and design orientation (DO) have been investigated. The research has been executed in several stages, combining qualitative and quantitative methods. In the first, qualitative stage, a series of face-to-face in-depth interviews were conducted. In the second, quantitative stage, an Internet survey was conducted among managers and CEOs from Croatian companies in different industries. Partial Least Square and Structural Equation Modelling analyses were conducted to examine the relationships between variables of MO and DO. Results confirm the positive relationship between design orientation and market orientation. Further, results also confirm sub-hypotheses that customer orientation and strategic marketing are positively related to all dimensions of design orientation. The model could have implications for marketers, designers and managers in practice. Both concepts, MO and DO, are very complex and multidimensional, so it was not possible to investigate all the aspects of the constructs. Another limitation of the study was the sample size, as a result of a low response rate as well as a relatively high drop-out rate. The research contributes to theory highlighting the role of design as an important element of market orientation.

Parole chiave

  • design orientation
  • market orientation
  • managers
  • relationship
  • transitional economies

JEL Classification

  • M310
Accesso libero

Demand and Characteristics of Customers of Reusable Products in Slovenia

Pubblicato online: 04 Oct 2019
Pagine: 63 - 72

Astratto

Abstract

The main aim of the paper is to analyse whether a demand for reusable products in Slovenia exists and to identify customers’ characteristics in terms of their gender, age, income, education and employment status. We used survey data to investigate what share of customers in Slovenia are buying and are willing to buy reusable products. Furthermore, we investigate whether there are differences between customers who are buying and who are not buying reusable products with regard to selected demographics (gender, age, income, education and employment status). The findings show that more than half of customers in Slovenia are already buying reusable products. The results of selected characteristics of individuals indicate that there are differences among buyers and non-buyers of reusable products only with regard to gender. The paper contributes to the literature on the demand for reusable products and gives better insights into the characteristics of customers buying reusable products.

Parole chiave

  • reusable products
  • demand
  • customer segmentation
  • Slovenia

JEL Classification

  • Q21
  • L31
5 Articoli
Accesso libero

Labour Supply and Inequality Effects of In-Work Benefits: Evidence from Serbia

Pubblicato online: 04 Oct 2019
Pagine: 1 - 22

Astratto

Abstract

Low labour market participation, together with the high effective tax wedge at low wage levels, create a fertile ground for the introduction of the in-work benefits (IWB) in Serbia. Our paper provides an ex-ante evaluation of the two IWB schemes, directed at stimulating the labour supply and more equal income distribution. The methodological approach combines the tax-and-benefit microsimulation model with the discrete labour supply model. Our results show that both individual and family-based IWB schemes would considerably boost labour market participation, although family-based benefits would have disincentivizing effects for the secondary earners in couples. Most of the behavioural changes take place among the poorest individuals, with significant redistributive effects.

Parole chiave

  • in-work benefits
  • labour supply
  • inequality
  • discrete choice model
  • microsimulation

JEL Classification

  • J22
  • H24
  • D31
  • I32
Accesso libero

Infrastructure Indices: Comparative Analysis of Performance, Risk and Representation of Global Listed Proxies

Pubblicato online: 04 Oct 2019
Pagine: 23 - 39

Astratto

Abstract

Faced with historically low interest rates, investors are looking further into illiquid assets such as infrastructure in search of alternative sources of income, better diversification and a long-term investment perspective. This paper analyzes the key performance and risk characteristics of the EDHECinfra global unlisted infrastructure equity index when compared to the main global listed infrastructure indices during the 2001-2018 period. The descriptive statistics method is applied to determine the representation of the benchmarks commonly used by investors considering infrastructure investments. For the purpose of the market beta analysis, the MSCI World index is also used as a global equities proxy in a linear regression model.

Listed infrastructure is often considered as an income-yielding and defensive equity strategy that provides a liquid proxy for alternative assets (e.g., infrastructure). However, the paper results indicate that the net effect of investing in listed infrastructure remains questionable, even unknown. Recent empirical findings demonstrate divergent stands on benchmarking infrastructure. The high correlation of the main listed infrastructure indices with the broad equity index MSCI World and the inconsistency of research results thus far suggest that infrastructure is an ill-defined investment category within the listed infrastructure space with lacking reliable and useful benchmarking. The commonly used and far-reaching classification of companies with broad industrial nature and business activities that are less relevant to infrastructure may affect the overall representation of the legitimate characteristics of the infrastructure asset class amid the growing enthusiasm among investors.

Parole chiave

  • infrastructure
  • index
  • benchmarking
  • listed equity
  • performance analysis

JEL Classification

  • G10
  • G11
  • G15
  • G23
  • H54
Accesso libero

Development of Trade Relations of Bosnia and Hercegovina with Slovenia: Different Aspects and Characteristics

Pubblicato online: 04 Oct 2019
Pagine: 40 - 49

Astratto

Abstract

The paper is aimed at identifying characteristics of trade relations of Bosnia and Herzegovina (BiH) with the Republic of Slovenia (Slovenia) in order to contribute to determining the position of BiH in its bilateral trade. The foreign trade analysis has been performed in the context of the changing trade regime between the two countries, thereby including both institutional and functional aspects of bilateral trade relations development. Different trade indicators have been calculated and interpreted for the period of 2003-2017 and/or for selected years which were identified by a change in the institutional regulations of mutual trade flows. The research results indicate increasing trade intensity between the two countries, with almost balanced export and import flows and with prevailing inter-industry trade. The trade performance of BiH has significantly improved, with increasing intra-industry specialization and trade. However, the export structure and comparative advantage pattern are not favourable toward BiH, which points to the need for improving the country’s position in its trade with Slovenia.

Parole chiave

  • trade relations
  • trade regime
  • bilateral trade analysis
  • Bosnia and Herzegovina (BiH)
  • the Republic of Slovenia (Slovenia)

JEL Classification

  • F10
  • F13
  • F14
Accesso libero

The Structure of Design Orientation and its Relationship with Market Orientation

Pubblicato online: 04 Oct 2019
Pagine: 50 - 62

Astratto

Abstract

Although market orientation has been investigated in numerous studies, its complex relationship with design orientation lacks research attention, especially in countries with transitional economies. Therefore, existing models of market orientation (MO) and design orientation (DO) have been investigated. The research has been executed in several stages, combining qualitative and quantitative methods. In the first, qualitative stage, a series of face-to-face in-depth interviews were conducted. In the second, quantitative stage, an Internet survey was conducted among managers and CEOs from Croatian companies in different industries. Partial Least Square and Structural Equation Modelling analyses were conducted to examine the relationships between variables of MO and DO. Results confirm the positive relationship between design orientation and market orientation. Further, results also confirm sub-hypotheses that customer orientation and strategic marketing are positively related to all dimensions of design orientation. The model could have implications for marketers, designers and managers in practice. Both concepts, MO and DO, are very complex and multidimensional, so it was not possible to investigate all the aspects of the constructs. Another limitation of the study was the sample size, as a result of a low response rate as well as a relatively high drop-out rate. The research contributes to theory highlighting the role of design as an important element of market orientation.

Parole chiave

  • design orientation
  • market orientation
  • managers
  • relationship
  • transitional economies

JEL Classification

  • M310
Accesso libero

Demand and Characteristics of Customers of Reusable Products in Slovenia

Pubblicato online: 04 Oct 2019
Pagine: 63 - 72

Astratto

Abstract

The main aim of the paper is to analyse whether a demand for reusable products in Slovenia exists and to identify customers’ characteristics in terms of their gender, age, income, education and employment status. We used survey data to investigate what share of customers in Slovenia are buying and are willing to buy reusable products. Furthermore, we investigate whether there are differences between customers who are buying and who are not buying reusable products with regard to selected demographics (gender, age, income, education and employment status). The findings show that more than half of customers in Slovenia are already buying reusable products. The results of selected characteristics of individuals indicate that there are differences among buyers and non-buyers of reusable products only with regard to gender. The paper contributes to the literature on the demand for reusable products and gives better insights into the characteristics of customers buying reusable products.

Parole chiave

  • reusable products
  • demand
  • customer segmentation
  • Slovenia

JEL Classification

  • Q21
  • L31

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