Impact of reverse globalization on the competition in EU digital markets

This paper aims to analyze the relationship between reverse globalization, the digital markets, and competition policy within the EU. Based on the review of contemporary literature, this paper provides an insight into the EU adaptation to the changes caused by the COVID-19 pandemic. Reverse globalization is identified through the trends in the international trade and FDI flows, while the digital markets' development is evaluated through the Number of individuals using the Internet to order goods and services and ECommerce sales. While this paper uses secondary data sources, it uniquely connects the identified reverse globalization and digital markets expansion with necessary changes in the competition policy pre and during the COVID19 pandemic. Additionally, this paper provides policymakers and business owners with relevant information and possible avenues to improve the competition policy and business strategy.

Revisiting spillover effect: An empirical evidence from GARCH-ARMA approach

This study analyzes the spillover effect of markets' commodity, exchange rate, and stock price. Starting from July 1, 2009, the daily data to December 31, 2019, are conducted in our study. The GARCH-ARMA approach has been undertaken in this study. The results show that four pairs experience the unidirectional (positive) spillover effect of return. Yet, the spillover effect of volatility shows a two-way relationship (both positive and negative) between commodity markets, stock prices, and exchange rates. To conclude, both stock prices and gold are volatility's net transmitters to other markets, while the EURUSD market is some markets' net receiver of volatility.

Fuel savings by using better-quality insulation in refrigerated vans

An additional attention must be payed to the energy efficiency of refrigerated vans transporting perishable foodstuffs, because inefficient operation of refrigeration units installed on these vehicles increases fuel consumption and exhaust gases emissions. The amount of fuel consumed by mechanical refrigeration unit drive can be reduced in many ways. This paper is analysing the impact of thermal insulation quality on the fuel consumed by mechanical refrigeration unit installed on a typical van. The results of the research show that by choosing better-quality thermal insulation around € 420 can be saved annually on fuel consumed by mechanical refrigeration unit driven by vehicle's engine while transporting deeply frozen fish at -20 °C (or other foodstuffs at given temperature). If the van is transporting raw meat (for example) at 0 °C annual savings can be around € 110. When the van is used for transport of deeply frozen fish the investment will pay off after 3.5 years of vehicle exploitation, while if the raw meat is transported the investment will pay off after approximately 14 years. The analysis includes the price of insulating the van, current fuel price in Serbia, as well as the average monthly temperatures in the territory of Belgrade, Serbia.

Trade in counterfeit goods in Serbia: Methodological approach and quantification

The paper represents the first step in quantifying the categories of goods with the highest risk of being counterfeit during import into Serbia. Firstly, we present a methodology for quantifying the level of counterfeiting, its advantages, and its limitations. Secondly, we determine the product categories most likely to contain counterfeit products. Likewise, by using the OECD methodology, the GTRIC-p indicator for Serbia was formed, enabling comparison with OECD member countries. Based on the results, Serbia does not significantly differ from EU countries in terms of structure and product categories most at risk. The negative effects of imports of counterfeit products are borne mainly by the foreign intellectual property rights holders whose counterfeit products are imported into Serbia. In this context, despite the legal framework in place, incentives for its proper implementation are questionable.

Composite materials in automotive industry: A review

Composite materials have found extensive use among many industries including automotive. Vehicles are supposed to be lightweight, have low emission and energy consumption to provide some environmental protection while having appropriate stiffness and strength to assure occupant protection. These requirements can be met with the use of composite materials. Although composites have been present in the industry for decades, their use in the automotive sector is moderately new, which requires development in design and manufacturing processes, testing, and recycling - this paper indicates the details by which the automotive industry differs from others. Principal recycling methods, related legislation, and where recycling products are used are described. Specific uses of composite materials that show a high level of innovativeness are indicated - hybrid and natural composites, structural batteries, and high-performance vehicles.

What drives the capital structure? The case of non-life insurance companies in Serbia

This paper studies the factors behind the capital structure of insurance companies. We used financial reports of non-life and composite insurance companies in Serbia between 2006 and 2019. In particular, we apply a panel-data approach to examine the relationship between leverage, defined as the ratio of technical reserves to capital and various firm-level characteristics. The coefficients estimated using the individual fixed-effects model indicate a significant and negative influence of profitability, growth and liquidity measures on leverage and a significant and positive influence of company size. The results indicate that the tradeoff theory and the pecking order theory are relevant in explaining the non-life insurer capital structure in Serbia.

Paternalistic leadership in Kuwaiti business environment: Culturally endorsed, but largely ineffective

There is an assumption from the reviewed literature that Paternalistic Leadership (PL) is culturally endorsed as a leadership style in Kuwait. With many diverse perspectives on the effectiveness of paternalistic leadership, the research objectives of the current research are threefold. First, to examine if PL is recognized as a leadership style in Kuwait organizations, second, to test the effectiveness of that style if present, and third, to identify the specifics of the Kuwaiti leadership practice. The findings lead to the conclusion that PL is present in Kuwaiti leadership practices, culturally is endorsed, but otherwise is considered as an ineffective leadership style because of the influence of wasta.

Green advertising and its impact on environmentally friendly consumption choices: A review

Research on various environmental topics, among which is the topic of green advertising, has been growing during last three decades, but it is yet to gain its full potential. Since the topic of green advertising has been gaining rising attention of scholars, the body of knowledge on this topic has been growing as well. Green advertising in general aims to promote products produced in an environmentally-friendly manner, or to promote advertiser's corporate responsibility toward an environment. The evaluation of green advertising effectiveness is necessary in order to stimulate cognitive and affective reactions of consumers to green advertisements, as well as their subsequent environmentally friendly behaviour. This article contains the review of the relevant literature on the topic of green advertising effectiveness. The findings of the literature review indicate that green advertising represents an effective communication means to influence consumers' attitudes and behaviour, even though its effectiveness is often mediated by certain factors, like: consumers' environmental consciousness, consumers' regulatory focus, consumers' scepticism, claim type.

Development of the textile industry in selected transition countries of Europe in 1995-2018

The paper examines the development of the textile industry in nine selected European countries in transition (Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, North Macedonia, Romania, Serbia and Slovenia) in the period from 1995 to 2018. The aim is to review the basic trends in the development of the textile industry in these countries by achieving the transition to a market model of business with varying degrees of success, which, among other things, is accompanied by a strong wave of deindustrialization. The interdependence of Textiles and clothing industry value added in manufacturing and GDP pc levels in individual countries was calculated by the exponential correlation procedure. It was stated that these countries based their development in the transition period largely on strengthening trade competitiveness, with the textile industry (Textile fibers, yarn, fabrics and clothing) contributing to a significant export expansion. It turned out that the contribution of the textile industry to the economic growth of the analyzed economies was higher in the earlier stages of their economic development. Also, the results of the research confirmed that the textile industry in these countries has maximized its export potential at lower levels of their GDP pc.

Does foreign investment improve technical efficiency of manufacturing: Evidence from the Republic of Serbia

This paper offers significant evidence for the presence of a beneficial impact of foreign direct investment on technical efficiency based on a balanced panel data on a sample of 92 manufacturing groups over the period 2010-2019. Throughout this period Serbia lost 28% of the potential output of the manufacturing sector due to technical inefficiency. The finding is directly supported by the results at the level of the observed groups. Thus, the greatest increase in technical efficiency is in branches with a high share of foreign ownership, such as: production of motor vehicles, production of chemicals, and production of wire and cable equipment. The methodology is based on stochastic frontier analysis - within that, 'true' random effects model. The paper contributes to a better understanding of the possible consequences of foreign-invested enterprises on the domestic economy and, in particular, the performance of local businesses. As a result, it is helpful to policymakers in developing counties, where FDI is thought to have technological spillovers on native businesses.