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The empirical literature on credit risk is mainly based on modelling the probability of default, omitting the modelling of the loss given default. This paper is aimed to predict recovery rates on the rarely applied nonpa...

Estimating integrated variance, using high frequency data, requires modelling experience and data crunching skills. Although intraday returns have attracted much attention in recent years, handling these data is ...

In this study we investigate how cost efficiency and risk affect market share in European banking industry. Our analysis is motivated by the well-known efficiency hypothesis and structure-conduct-performance theory. ...

In recent years, there has been a lot of scientific research stressing the importance of understanding and measuring concentration risk in credit portfolios. The article presents credit risk measurement within the capita...

The aim of this study is to overcome the lack of empirical research dealing with the main factors of currency crises in the Republic of Serbia, analyzing periods of currency crises and creating an early warning system to...

This paper deals with the phenomenon of excessive optimism in brokerage valuations, which is manifested by one-sided errors in the valuation of securities in reference to the real price achieved by the particular stock i...

Higher crime rates lead to the increasing fear and anxiety in society and disturb the social structure and harmony in the country. In the last decades, many scientists depict a decrease in economic fact...

This paper analyses the effect of High-Performance Work Systems (HPWS) and Total Quality Management (TQM) on business performance. An extensive literature review made it possible to establish four hypotheses, along with ...

The growth of city population has consequences on the sustainability and development of smart regions. International standards can provide good practices in wide areas related to environmental, security and social ...

The paper analyses the contribution of different types of innovative entrepreneurship: new products entrepreneurship (NP), new technology development entrepreneurship (NT), high growth expectation entrepreneurship (...

This paper examines the causal relationship between interest rate differential (IRD) and international short-term capital flow (SCF) to determine whether such a relationship in China supports the Mundell-Fleming model. W...

The global economic crisis has not spared the countries of the Western Balkans. The ensuing recession, characterized by a decline in economic activity, a decline in consumption and an increase in unemployment, went hand ...

Starting from 1920, the growing body of research has been focused on the role of psychological factors in cycle theories. Mainstream macroeconomic models are insufficient for exploring interaction among economic agents, ...

This work assesses quantitatively the determinants of two of the main indicators of financial inclusion: savings account ownership and credit access. Through the use of a dynamic panel, this work verifies that on the sup...

Foreign financial flows to emerging markets have increasingly become important following the opening of financial markets globally. These financial flows are a function of a country’s fundamentals related to fut...

The impact of market concentration on profitability is a controversial question in industrial organization without a clear answer. The aim of the research is to investigate this prospective impact in the context of Serbi...

The paper aims to examine persistence of shocks in returns on CDS for 5Y Croatian bonds. Based on sample of daily data from January 6, 2004 up until December 13, 2019 the paper evaluated research hypo...

Online local budget transparency (OLBT) has been recognized as an important feature of good governance. Accordingly, in this paper, OLBT is measured in all 128 cities and a sample of 100 municipalities in Croatia using s...

The huge burden of diseases, poor higher educational outcomes in South Africa and their interaction on affecting productivity of human capital requires investigation for a context –specific policy advice. To this effec...

The massive financial liberalization followed by accelerating financial globalization leaded to significant structural changes in the financial sector. Since financial institutions play a dominant role in functioning of ...

The purpose of this study is to analyse Zagreb Stock Exchange CROBEX Index reactions to selected macroeconomic announcements within ultra-short time intervals. We utilize 5-minute rates of returns from September 2...

Investment in research and development (R&D) creates preconditions for the implementation of more advanced and better technologies. It enables the introduction of new products or production processes wh...

The smart city represents a frequently elaborated concept which however comes short in delivering a consistent definition. Nevertheless, almost every description has always been oriented to its technologic...

Smart city concept or label has become increasingly popular in scientific literature as well as in contemporary urban policy-making, where it has been popularized for the purpose of solving complex urban problems. This p...