Tom 5 (2014): Zeszyt 2 (September 2014)

Background: Given the limited available time of in-service professionals, the balance between the perceived importance of the course content and training needs is essential for the acceptance and attractiveness of training courses aimed at them. Objectives: The goal of the paper is to contribute to the development of entrepreneurship and business training programs for European SME managers. Methods/Approach: In six European countries a survey focusing on SME managers’ views on the importance of individual items from a list of potential course content items, and their training needs was carried out, and followed by an analysis using exploratory and multivariate techniques. It was aimed at identifying homogeneous groups of managers with common training needs and perceptions of content importance. Results: Homogeneous groups of managers who assign the same importance to certain competences and who have common training needs are identified. Conclusions: Results of our research could help training institutions to develop courses aimed at SME managers. The balancing approach proved to be an interesting method of combining conflicting requirements for the training course curriculum development.

Background: Research in business failure and insolvency prediction provides numerous potential variables, which are in the position to differentiate between solvent and insolvent firms. Nevertheless, not all of them have the same discriminatory power, and therefore their general applicability as crisis indicators within early warning systems seems questionable. Objectives: The paper aims to demonstrate that gearing-ratio is not an appropriate predictor for firm failures/bankruptcies. Methods/Approach: The first and the second order derivatives for the gearing-ratio formula were computed and mathematically analysed. Based on these results an interpretation was given and the suitability of gearing-ratio as a discriminator within business failure prediction models was discussed. These theoretical findings were then empirically tested using financial figures from financial statements of Austrian companies for the observation period between 2008 and 2010. Results: The theoretical assumptions showed that gearing-ratio is not a suitable predictor for early warning systems. This finding was confirmed with empirical data. Conclusions: The inclusion of gearing-ratio within business failure prediction models is not able to provide early warning signals and should therefore be ignored in future model building attempts.

Background: The European financial crisis has affected most of the EU member states, and European institutions have had to create new financial instruments to counter the impact. Most effects in the economic and political spheres can be attributed to high unemployment and changes in governments in peripheral countries (Greece, Ireland, Portugal, Spain and Romania). Objectives: The aim of this paper is to demonstrate the economic and political effects of the European financial crisis in some peripheral countries that have implemented austerity policies. Methods/Approach: The methodology used is mixed: an analysis of the primary economic variables of the selected countries in comparison to those of countries with low-risk premium was performed, and the relation between the bailouts and elections was presented. Results: The exacerbation of the crisis in the Eurozone is mainly due to the high political costs of austerity measures and not the high level of public spending and/or the alternations in the governments of peripheral countries. Conclusions: The European financial crisis is primarily a result of weak economic governance, and its effects are differentiated. The peripheral countries possess the highest rates of unemployment, and there is a higher tendency towards political instability in rescued countries.

Background: Fraud attempts create large losses for financing subjects in modern economies. At the same time, leasing agreements have become more and more popular as a means of financing objects such as machinery and vehicles, but are more vulnerable to fraud attempts. Objectives: The goal of the paper is to estimate the usability of the data mining approach in discovering fraud in leasing agreements. Methods/Approach: Real-world data from one Croatian leasing firm was used for creating tow models for fraud detection in leasing. The decision tree method was used for creating a classification model, and the CHAID algorithm was deployed. Results: The decision tree model has indicated that the object of the leasing agreement had the strongest impact on the probability of fraud. Conclusions: In order to enhance the probability of the developed model, it would be necessary to develop software that would enable automated, quick and transparent retrieval of data from the system, processing according to the rules and displaying the results in multiple categories.

Background: For many years, performance indicators have served as a valid instrument for the evaluation of the public sector quality and efficiency in the majority of developed countries. Such measurements allow internal and external evaluation of the efficiency of the budget and public companies. Objectives: The aim of the paper is to determine to what extent public sector entities in the Federation of Bosnia and Herzegovina (FB&H), as a representative of transition countries, measure and report performance indicators. Methods/Approach: An electronic survey has been conducted among representatives of cantons in FB&H and public utility companies in the Canton of Sarajevo. The Mann-Whitney test was applied in order to test differences between public sector entities according to their performance. Results: The Mann-Whitney non-parametric tests show that the degree of measuring and reporting performance indicators in the public sector in FB&H has a direct impact on the operational results shown in financial statements. Conclusions: EU legislation encourages the development of competition between different programs, products and services in the public sector. This paper sheds light on the causes and consequences of the absence of valid performance measurement in the public sector of FB&H and provides possible solutions to overcome identified problems within measurement, reporting and monitoring of performance indicators.

Background: The term digital natives refer to those born since the 1980s and have been growing up surrounded by technology. On the other hand, digital immigrants are born before 1980s and learned how to use technology later in life. Objectives: Goal of the paper is to explore attitudes of digital native students on the course of Business Informatics at higher educational institutions (HEIs), and to compare them with attitudes of digital immigrants. Methods/Approach: The survey was conducted in 2014 using the sample of first-year Business Informatics students from the Faculty of Economics and Business in Zagreb, Croatia. Results were compared with a research conducted in 1998. Results: In comparison to an earlier research, digital natives perceive their level of competency in the subject of Business Informatics before teaching practices much higher compared to digital immigrants. However, there is still an increase in digital native students’ level of competency in the subject before and after teaching practices. Conclusions: The research confirms a shift from digital immigrants to digital natives who show high level of interest for Business Informatics course topics and find its utility very high. However, constant improvement of delivering knowledge is needed in order to keep these high levels.

Background: Sport tourism plays an important role in the tourism industry and consequently in the economy. Sport tourism centres as providers of sport services need to be familiar with the basic needs of their customers and tailor their services accordingly. Objectives: The aim of the paper is to determine the models for customizing sport tourism services to address the needs specific for an individual sport. Methods/Approach: A questionnaire has been created and sent electronically or physically to top athletes from Slovenia, Central and Eastern Europe. Respondents were mainly from Slovenia and mostly representatives of national sports federations. The Mann Whitney and the Kruskall-Wallis tests were applied in order to test differences among sport groups. Results: The conducted Mann-Whitney non-parametric tests show that representatives of different sport groups have different perspectives on sport tourism services. Conclusions: The results of the study can be used by sport tourism centres in the process of tailoring their services, planning marketing activities or developing strategic projects.

Background: The sharing of practices that enable the flow and the distribution of tacit knowledge and other ways of proprietary knowledge are essential requisites for promoting an innovation system. Objectives: In this paper a diagnosis of the Spanish Science and Technology System is offered by using the normalized protocol for responsible partnering proposed by EIRMA. Methods/Approach: The triple helix model has been used to identify the agents that take part in the system. The grounded theory has also been applied to analyse interactions and interviews with seven key agents in the system. Results: The lack of common objectives among the main partners in the system is the most important weakness; the New Acts developed in the last three years is a strength that allows the different agents of the system to share objectives. The economic crisis is a threat for the performance of research within the university context and becomes at the same time an opportunity to establish closer relationships. Conclusions: Universities, firms and governments must synchronise their work to accomplish a common objective: produce high levels of innovation that aim to enhance the competitiveness of the system.

Background: There is an on-going discussion within management accounting research regarding how to work with performance measures. In the process of developing new forms of performance measurement the task of choosing business metrics is central. This process is closely connected to the implementation of IT solutions. Objectives: In order to understand how new performance measurement solutions are implemented and used, it becomes crucial to understand how measures are selected and how new accounting information systems (AIS) are developed and implemented. Methods/approach: The paper builds on the case of an on-going AIS project at a large, public university in Sweden. The empirical material was collected using a semi-action research approach over a two-year period. The majority of the material comes from written documentation and minutes. Results: Even though the implementation of a new AIS triggers a change in the management accounting practice, this study shows that this is done in more than one perspective. Conclusions: As the project develops, new priorities and objectives evolve, which in the end shape what management accounting change becomes.