1 1 2019 2019-06-30 https://tefmj.ibupress.com/issue/volume-1-issue-1 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com

do-the-western-balkan-countries-benefit-from-the-increased-competitiveness-in-their-economies 2019 1 The competitiveness of the Western Balkans’ economies has gained in significance, becoming even European strategic interest, due to the acceleration of their EU accession process in recent period. Despite of the global financial and economic crisis in the last decade, the Western Balkans is continuously improving its competitiveness as a region, but the progress is uneven and much slower than in other EU countries. Even more, increased competitiveness in each of these countries, made different impact on their export, economic growth, and employment which requires more focused analysis. The paper aims to present the comparative analysis of the increased competitiveness in the Western Balkan countries in the period 2005-2015, as well as to analyze if the competitiveness made an impact on different aspect of the economic development of analyzed countries. Using the trend and regression analysis, this paper presents that at regional level there is positive correlation and impact of competitiveness on economic development and export of goods and services, but, no significant impact on employment rate. However, separate country analysis shows some discrepancies from the general findings which are presented in the paper.

]]> competitiveness, productivity, economic development, export, employment rate 2019-06-30 https://tefmj.ibupress.com/articles/do-the-western-balkan-countries-benefit-from-the-increased-competitiveness-in-their-economies 1 1-9 en CC BY-NC-ND 4.0 https://creativecommons.org/licenses/by-nc-nd/4.0/ https://tefmj.ibupress.com/file/176/1.pdf / /

]]> Violeta Madzova International Balkan University true Kristina Velichkovska International Balkan University 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com

distribution-of-technology-transfer-support-in-different-industry-sectors-case-of-slovakia 2019 1 The innovation plays an important role in economic development. The governments try to stimulate innovation in different ways. One of the main used tools is direct support of private enterprises. However, due to limited public resources, more and more attention is given to effectiveness of such support. When evaluating effectiveness of the innovation policy implementation also raises the problem of "one size fits all" measures, whereby the effects of intervention may vary according to regions or sectors. In central Europe countries, most of this support is financed from structural funds. In this article, we empirically tested effectiveness of one such a measure – support of technology transfer to strengthen innovation processes in Slovakia. We evaluated the influence of the support on labour productivity and value added of different kind of sectors, comparing supported and non-supported enterprises. As methods, we use comparison of localisation coefficients and share on employment with given support. We found that distribution of support is not supported concentration of sectors. We suggest some policy implications from this result.

]]> public support, public policies, technology transfer, innovation, structural funds 2019-06-30 https://tefmj.ibupress.com/articles/distribution-of-technology-transfer-support-in-different-industry-sectors-case-of-slovakia 1 10-14 en CC BY-NC-ND 4.0 https://creativecommons.org/licenses/by-nc-nd/4.0/ https://tefmj.ibupress.com/file/175/2.pdf / /

]]> Miroslav Šipikal University of Economics in Bratislava true 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com

management-of-competitiveness-of-employees-of-organizations-based-on-the-development-of-their-core-competencies 2019 1 Formation of competitiveness of employees at the present stage of development of economic relations is the subject of study of economists (within the framework of the labor economics, personnel management, etc.), psychologists (from the position of determining the influence of one or another factors affecting the need and willingness of an individual to develop his professionally significant qualities, which ensure competitiveness), teachers, sociologists and specialists in other scientific fields. Modern negative trends that significantly change the field of work: remote employment, mass technology introduction and digitalization of labor functions previously performed by people, innovations in labor processes, etc., inevitably increase competition in the labor market and actualize the need to investigate the factors that ensure the advantages of employees in the struggle for the job. Competitiveness of personnel has a significant impact on the company’s competitiveness, since human resources are an important element of the company’s efficiency. In today’s business, the competitive advantages are taken by those companies whose personnel work efficiently and effectively. Thus, the tasks of the company’s HR service include activities aimed at ensuring the professional development of employees, increasing their competence level and matching the positions they occupy. Increasing the core competences of personnel is the basis for managing the competitiveness of employees of organizations. The key method of formation and development of core competencies is the system personnel policy, focused on the development of corporate training practices oriented to those competitive advantages of employees, which should be formed by developing competences in the current and forecast periods. And those companies that consistently implement and actively use the benefits of corporate training have the opportunity to quickly influence the competence profile and level of their employees, manage their competitiveness and ensure a stable market position for the company as a whole. The article considers the experience of foreign and Russian companies in implementing the system personnel policy aimed at the formation of corporate core competencies that ensure the competitiveness of employees in the domestic labor market.

]]> Competitiveness, employee, corporate competencies, qualifications, development 2019-06-30 https://tefmj.ibupress.com/articles/management-of-competitiveness-of-employees-of-organizations-based-on-the-development-of-their-core-competencies 1 15-20 en CC BY-NC-ND 4.0 https://creativecommons.org/licenses/by-nc-nd/4.0/ / /

]]> Polina Ananchenkova Academy of Labor and Social Relations – Moscow true 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com

understanding-power-distance-and-service-delivery-in-public-sector-of-pakistan 2019 1 Power distance represents the respect that hierarchical positions are accorded within an organization. Low power distance culture incubates an efficient rule-based administrative system in the public sector, where focus lies on serving the citizens of a country. This paper attempts to understand the role of power distance and service delivery in the public sector of Pakistan. A sample of 11 experienced respondents was selected from various public sector organizations for their views on the subject. The qualitative study conducted for this paper reveals that Pakistan's public sector is in a state of transition. The high power distance management style, a part of Pakistan's colonial inheritance, is slowly shifting to a low power distance management style driven by recent administrative reforms. As a result, low power distance culture is getting firmly entrenched in the public sector while displaying positive results measured by a marked improvement in public service delivery.

]]> Power distance, Culture, Service delivery, Public sector, Employee behavior 2019-06-30 https://tefmj.ibupress.com/articles/understanding-power-distance-and-service-delivery-in-public-sector-of-pakistan 1 21-28 en CC BY-NC-ND 4.0 https://creativecommons.org/licenses/by-nc-nd/4.0/ https://tefmj.ibupress.com/file/173/4.pdf / /

]]> Omar Khalid Bhatti Iqra University Islamabad Pakistan & Antalya International University - Turkey true Waqas Farooq Iqra University Islamabad - Pakistan Muhammad Ali Raza Hanjra University of Management and Technology Lahore - Pakistan Saadia Niazi Iqra University Islamabad - Pakistan 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com

impact-of-direct-taxes-on-economic-growth-in-republic-of-north-macedonia 2019 1 The main objective of this paper is to investigate and determine the nature of the relationship between
direct taxes and economic growth in Republic of Macedonia, utilizing quarterly time series covering
time spin 2000 – 2015. Furthermore, findings reveal that data are non-stationary in their level and
stationary in their first difference based on two test for unit root Augmented Dickey Fuller and Phillips
Perron test, respectively. Moreover, Johansen test for co-integration indicate the rank number as one,
while evidence from Vector Error Correction model suggest negative and significant effect of Personal
Income tax on Real GDP, while Corporate Income Tax is showing positive and insignificant effect on
real GDP in Macedonia. Finally, such results can contribute as further recommendation for the
Macedonian tax policymakers in the future, since tax rate cuts even though encourage employment,
savings and investment, if are not financed by immediate expenditure cuts, will increase budget deficit,
therefor reducing national saving and raise interest rates in the long-run, thus reducing positive direct
impact on economic growth.

]]> Personal Income Tax, Corporate Tax, Granger Causality, VECM 2019-06-30 https://tefmj.ibupress.com/articles/impact-of-direct-taxes-on-economic-growth-in-republic-of-north-macedonia 1 29-35 en CC BY-NC-ND 4.0 https://creativecommons.org/licenses/by-nc-nd/4.0/ https://tefmj.ibupress.com/file/172/5.pdf / /

]]> Liza Alili Sulejmani International Balkan University – Skopje true Ahmet Lokce International Balkan University – Skopje 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com

economic-effects-in-hungary-within-integration-in-european-union 2019 1 Eastern European Countries after the breakup of the Soviet Union have expressed widely interest in European Union integration, this includes Hungary as well. The study is going to analyze the economic development of Hungary before and after the membership in European Union. It is discussed whether economic cooperation between Hungary and European Union members have changed, that is increased or decreased after joining European Union. The main objective of the paper is assessment of the level of development of Hungary within the European Union integration. The paper provides a comprehensive and contemporary comparative analysis of the economic performance, the economic structure and the trade relations between Hungary and European Union countries, allowing us to detect basic trends and developments. We will compare the economic performance of Hungary and other European Union members, looking at aggregate figures from integration in European Union such as foreign trade, Foreign Direct Investment, Gross Domestic Product and its structure, level of structural unemployment and employment, inflation and level of income.

]]> European Union membership, Foreign Trade, Foreign Direct Investment, Gross Domestic Product, Unemployment 2019-06-30 https://tefmj.ibupress.com/articles/economic-effects-in-hungary-within-integration-in-european-union 1 36-46 en CC BY-NC-ND 4.0 https://creativecommons.org/licenses/by-nc-nd/4.0/ https://tefmj.ibupress.com/file/171/6.pdf / /

]]> Amir Imeri International Balkan University – Skopje true 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com

impact-of-foreign-capital-and-information-communication-technology-on-the-macedonianbanking-sector-effectiveness 2019 1 Modern technology related to products and services based on knowledge reduces the distance between clients and banks which results with focusing on offering of new electronic (online) banking products and services. Today, more and more the question is raised: At what stage each of the electronic or physical market model is more appropriate for banking operation as a function derived from the characteristics of the transaction? The Internet, the quick communication, the coordination and the collaboration help banks to cut transaction costs through virtual integration with their clients. Foreign banks entry significantly enables information and communication technology (ICT) and know-how transfer and introduces new financial products and processes to the local market. Contemporary ICT leads to reduction of transaction chains and separation of some of the operational activities of the banks, i.e. towards more efficient models of banking operation. Primary goal of the paper is to demonstrate why in the contemporary banking operations as a result of the foreign direct investments (FDI) and new ICT, commercial banks will prefer electronic versus physical offers of products and services and shall try to outsource their basic business activities, i.e. utilize services from external operators. The paper deals with the challenges with which the Macedonia’s banking sector is faced as a result of the FDI and new ICT, and is particularly oriented towards selection of the electronic versus physical transactional banking practices and increased need of use of outsourced banking services. Analytic and field research was used for the preparation of the paper. Additionaly, surveying as well as analysis and synthesis methods have been applied. Internet was used as a major tool to approach data and literature. Tables and graphical methods have been employed for visual presentations during the research.

]]> electronic, online or physical banking system, foreign direct investment, information and communications technology, outscoring of banking operational activities 2019-06-30 https://tefmj.ibupress.com/articles/impact-of-foreign-capital-and-information-communication-technology-on-the-macedonianbanking-sector-effectiveness 1 47-56 en CC BY-NC-ND 4.0 https://creativecommons.org/licenses/by-nc-nd/4.0/ https://tefmj.ibupress.com/file/170/7.pdf / /

]]> Elena Parnardzieva Stanoevska International Balkan University – Skopje true 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com

global-marketing-strategies-and-implications 2019 1 Global marketing strategies are essential for global market success. Global marketing is defined as the process of adjusting the marketing strategies of own company to adapt to the conditions of other countries. If a business chooses not to extend internationally, it can face domestic competition from international companies that are extending their international presence. International marketing involves the marketing tactics adopted by knowledgeable marketers in different countries specific to the markets of those countries. Global marketing, on the other hand is a marketing concept which involves the marketing efforts put in for the unique worldwide market (S. Zyman,2000). Competing on a global basis allows customers worldwide to be better-informed and more focused on the products and services offered. Creating a comprehensive global marketing strategy also allows to the company to adapt quickly wherever needed based on customer demands and trends in the global marketplace. A company which fails to go global is about of losing domestic business to competitors with better products and more value for the customer. This paper explains the global marketing in general. Furthermore, importance, problems, and objectives are going to be explained. Global marketing is very important for internationalization of the business and preparing a good strategy for it. The advantages of global marketing are: reduction to cost inefficiencies and of duplication of efforts between national and regional subsidiaries, opportunities to transfer products, brands and ideas to other subsidiaries, appearance of global clients, improvement of ties between national infrastructures, leading to development of a global marketing infrastructure etc. This paper proves that global marketing is more than simply selling a product internationally. It includes the whole process of planning, producing, placing and promoting a company’s products in a worldwide market. The research method used in this paper is theoretical. The conclusion in this paper emphasizes that companies engaging in global marketing operations are facing number of very important strategic decisions. Globalization has become a multifaceted term requiring companies to carefully monitor their markets.

]]> International, Global, Marketing, Strategy 2019-06-30 https://tefmj.ibupress.com/articles/global-marketing-strategies-and-implications 1 57-62 en CC BY-NC-ND 4.0 https://creativecommons.org/licenses/by-nc-nd/4.0/ / /

]]> Gordana Petrusevska International Balkan University – Skopje true 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com

government-expenditures-effects-on-economic-growth-in-the-republic-of-macedonia 2019 1 This paper has an aim to analyze the impact of government expenditures on economic growth in Republic of Macedonia during the time period of 2000Q1 – 2016Q4. For this purpose, are used time series regression models and the vector auto regression (VAR) research methodology which help to identify the influence of government expenditures on GDP. The results of the analysis reveal a positive response of GDP to an increase in government expenditure which is in line with the macroeconomic theory of expansionary fiscal policy. Still, a reform of the public expenditure structure in the country is essential, especially in the share of capital expenditures which needs to be increased because those are the ones that refer to investments that drive economic growth.

]]> government expenditures, economic growth, regression models, VAR 2019-06-30 https://tefmj.ibupress.com/articles/government-expenditures-effects-on-economic-growth-in-the-republic-of-macedonia 1 63-72 en CC BY-NC-ND 4.0 https://creativecommons.org/licenses/by-nc-nd/4.0/ https://tefmj.ibupress.com/file/168/9.pdf / /

]]> Kristina Velichkovska International Balkan University – Skopje true Luljeta Sadiku International Balkan University – Skopje 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com

youth-and-rise-of-outsourcing-opportunities-in-balkan-countries-case-of-bulgaria-romania-and-north-macedonia 2019 1 One of the most influential and powerful trends in the modern-day management is considered to be the practice of outsourcing. This practice comprises in itself several processes and functions such as financial economies, access to technology by reaching sophistication and expertise as well as the competence to seek improved and measurable levels of services. This research elaborates the outsourcing opportunities in the Balkan region in general but it focuses more on three states such as Bulgaria, Romania and North Macedonia. Additionally, the paper touches a range of good points and core issues related to the establishment of outsourcing possibilities and the participation of the Balkan countries companies into such practices. Moreover, an insight of why European companies should choose Balkan states as the destination for outsourcing is given for each Balkan country mentioned above (Bulgaria, Romania and North Macedonia). Special stress is put on the predispositions and benefits associated with the realization of outsourcing facilities implying that international outsourcing generally has a positive impact on the organizational performance and competitiveness enforcement in the companies within the region.

]]> youth, outsourcing, human resource development, services, procurement 2019-06-30 https://tefmj.ibupress.com/articles/youth-and-rise-of-outsourcing-opportunities-in-balkan-countries-case-of-bulgaria-romania-and-north-macedonia 1 73-88 en CC BY-NC-ND 4.0 https://creativecommons.org/licenses/by-nc-nd/4.0/ https://tefmj.ibupress.com/file/167/10.pdf / /

]]> Tirana Ameti International Balkan University – Skopje true 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com

tax-policies-in-north-macedonia-progressive-tax-on-income 2019 1 The purpose of this paper is to assess and provide explanation and expected effects of progressive income tax in North Macedonia, based on recent results explained in practical cases. Choosing the best taxation system, by having tax that provides the same percentage for all categories of income and a tax increase progressively to individuals with higher incomes, it remains to be discussed and explain the selected case to clarify the definition of progressive tax. We reconsider rather the optimal progressivity of earnings taxations and whether the income should be taxed at all. The government explained that the goal of income progressive taxation is to incite the economy and make sure a minimum standard of living for every citizen, which in the future will low the health care costs and provide strong force labor, that we critically discuss the academic research and consultation with concerned sides about appropriate implementation on this topic. According to policies, the tax income is paid at a progressive rate of 10% for the earned income up to 1.080.000 MKD per year, and of 18% for the income earned above this threshold. This implies that very high earners will be subject to high tax rates, how this would encourage low income families to work with earning subsidies and is it reasonable to freeze the progressive tax for the next 36- months.

]]> Progressive Tax, Tax Policies, Taxation North Macedonia, Economy 2019-06-30 https://tefmj.ibupress.com/articles/tax-policies-in-north-macedonia-progressive-tax-on-income 1 89-94 en CC BY-NC-ND 4.0 https://creativecommons.org/licenses/by-nc-nd/4.0/ / /

]]> Valon Ramadani International Balkan University – Skopje true 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com

legal-aspect-of-corporate-social-responsibility-in-republic-of-north-macedonia 2019 1 As a candidate country to full membership in the European Union, North Macedonia has been reviewing and harmonizing its laws, bringing the North Macedonia legal system to an equal level with the material and procedural laws of most developed countries in the world. After the introduction of CSR in 2002, the importance of this concept was quickly acknowledged by the government and other stakeholders. In 2008, North Macedonia became the third country in the EU, after Denmark and Lithuania, to adopt a national CSR Agenda and the North Macedonia document stipulates that the concept of CSR includes compliance with legal obligations. The fact that corporate social responsibility has been increasingly present in today’s society cannot be denied. Despite the continuous debate as to whether or not firms should have social responsibilities, research indicates that consumers seem to care about CSR and therefore it is in the best interest of the company to do so as well, it is ‘seem to care’ because the concept of CSR is characterized by a significant attitude-behaviour gap. Nevertheless, studies indicate that nowadays most consumers expect companies to have fairly high levels of CSR. It reveals the legislative efforts of a country in transition to raise awareness and include CSR principles in business strategies, culture, and day-to-day business operations. The research gives examples of the measures taken to create legal obligations in respect of CSR-behaviour and CSR- reporting. Almost ten years after its introduction, CSR is still a relatively new concept in North Macedonia. Yet, with a comprehensive approach that includes the government, various ministries, business organizations, labour unions, NGOs, academia, and the media, the country managed to become a leader in the region regarding CSR.

]]> North Macedonia, CSR, legal obligations, behaviour 2019-06-30 https://tefmj.ibupress.com/articles/legal-aspect-of-corporate-social-responsibility-in-republic-of-north-macedonia 1 95-104 en CC BY-NC-ND 4.0 https://creativecommons.org/licenses/by-nc-nd/4.0/ https://tefmj.ibupress.com/file/165/12.pdf / /

]]> Ceneta Telak International Balkan University - Skopje true 2671-3357 2671-3365 Balkan University Press https://tefmj.ibupress.com