Vladimir Ristanović - Academia.edu (original) (raw)

Papers by Vladimir Ristanović

The Review of International Affairs

Consumer behavior is unpredictable. The accelerated pace of life and daily changes in the desires... more Consumer behavior is unpredictable. The accelerated pace of life and daily changes in the desires and preferences of each individual require significant marketing efforts to fulfill needs. The impact of the COVID-19 pandemic has created significant disruptions in the market to which consumers have responded in a specific way. Our previous research on this topic [11], which included an analysis of various factors that influence consumer habits, was the basis for a new, more detailed analysis of the impact on individual consumption. The results of our previous research set psy-chological influence as a significant factor in consumer behavior. That is the main reason we put the impact of COVID-19 at the center of this research. The analysis was conducted on an existing sample of 559 respondents in the Republic of Croatia. The data obtained by the questionnaire were used to develop a hierarchical model. The Analytic Hierarchy Process (AHP) is a model based on deci-sion-making and was us...

The research paper comprehensively and consistently addresses all relevant theoretical areas rela... more The research paper comprehensively and consistently addresses all relevant theoretical areas related to the topic and includes an extensive empirical analysis of the absorption of EU funds and their impact on the sustainable development of Croatia, Slovenia, Hungary, and Poland. The analysis aims to investigate the efficiency of the absorption of funds from the EU, the impact of these funds on regional development of countries, as well as the reasons for such impacts. The "Regional Development Model Based on EU Funds" was tested with the aim of applying the model to the Republic of Croatia, countries in the region, and other European countries to achieve a higher level of absorption of financial resources from the available EU funds. Data for the empirical analysis were collected using a highly structured survey questionnaire on a sample of 244 respondents involved in the preparation and implementation of EU-funded projects. The contribution of economic science in theoreti...

Zagreb International Review of Economics and Business

Banks face a number of business risks on a daily basis. Today, operational risk is dominant. The ... more Banks face a number of business risks on a daily basis. Today, operational risk is dominant. The aim of this paper is to develop a decision-making system when choosing a method of operational risk management by using the Analytical Hierarchy Process (the AHP method) and the Fuzzy Analytic Hierarchy Process (the FAHP method). Analytical hierarchical process is a simple efficient process in solving decision-making problems. The final decision depends on the assessment of a set of alternatives and the decision criteria. The main purpose of the process is to find appropriate solutions for defined user factors in the current competitive environment. The results obtained by the classical AHP method, as well as the FAHP method, show that external factors are the dominant criterion, especially during the financial crisis or the Covid19 pandemic, and that solutions should be sought in international standards, using control tools created by the banks themselves.

The influence of numerous factors determines and changes the daily behavior of consumers. This pa... more The influence of numerous factors determines and changes the daily behavior of consumers. This paper aims to estimate and rank the weight of cultural, social, personal, and psychological factors that change the buying habits of individuals. The research was conducted on a sample of 559 re-spondents. Data from the survey were used to create a hierarchical model structure. The Analytic Hierarchy Process (AHP) as a decision-making method was used in the analysis to estimate and rank the factors that influence consumer habits. An analysis of results showed that the personal and psychological factors have the principal influence on consumer habits. Personal budget, as the dominant criterion in a group of set criteria, contributed to the fact that the personal factors have the dominant influence on consumer habits. The work showed that the choice of the method used is relevant to the results and that the analysis of the impact on consumer habits can be expanded by including several factors.

Medjunarodni problemi

The aim of this article is to analyse all elements of sustainable development, especially in the ... more The aim of this article is to analyse all elements of sustainable development, especially in the context of the new enlargement policy for the Balkan countries. Basically, the analysis is based on the concept from Agenda 2030. The second concept consists of two methodologies for EU accession, where the criteria are grouped through chapters (old methodology) and clusters (new methodology). The research question in this paper is whether the new EU accession methodology is a guarantee for achieving better values of indicators of sustainable development or not. Multicriteria decision analysis (MCDA), more precisely the Analytic Hierarchy Process (AHP method), is used to prioritize sustainable development criteria based on the sustainable development indicators through two different concepts. The results of the analysis showed that the achievement of the SDGs according to the Agenda 2030 was established methodologically by country, while respecting the specificities of countries and thei...

Studies in Agricultural Economics

Agriculture is a pillar of Serbia's economic development. Consequently, this paper provides an ov... more Agriculture is a pillar of Serbia's economic development. Consequently, this paper provides an overview and analysis of the status of farms in Serbia, with a special focus on finding factors influencing the sustainable development of small-scale family farms. To facilitate simpler and more precise problem-solving and decision-making processes for improving the farms' operations, the analytic hierarchy process (AHP) model is used in this paper. This model is applied to the selection of key economic determinants for small farms' viability, illustrated through the results of the authors' own survey of 550 small farms in Serbia, which refers to the economic, social and environmental aspects of small farms' operation. By applying the criteria for selecting key economic indicators of a small farm, the multi-criteria assessment results can be utilised to inform more effective business and policy decisions directed at improving the operation of small-scale family farms. The survey results show that the best-ranked determinants for the viability of small farms in Serbia are first, the price of agricultural products, and next, wellstructured agricultural product distribution channels.

International Review

The paper focuses on the socio-economic factors of small farms in Serbia. Small farms occupy most... more The paper focuses on the socio-economic factors of small farms in Serbia. Small farms occupy most of the farmland and, therefore, are very important to economic and agricultural development, although they achieve lower income and are not as productive as large farms. The authors conducted research and addressed the key related to the functioning of small farms in the context of the population working in agriculture. The primary goal of this article was to identify the share of the population working in agriculture and their income structure, level of education, age, gender, working hours etc. Using a database of 550 farms, the socio-economic factors were calculated, and then the impact of the selected factors on economic and sustainable development. Identifying those socio-economic effects may provide recommendations for the policy of supporting small-scale family farms in the analyzed country.

Agricultural Economics (Zemědělská ekonomika)

The role of small farms in agricultural production is particularly important for less developed e... more The role of small farms in agricultural production is particularly important for less developed economies, with a high share of agriculture in GDP and a lower level of national income. These economies have a high share of small-scale farms in the total number of registered farms, measured by the size of an agricultural holding. The paper thoroughly analyses the distribution channels of the agricultural products of Moldova (MDA), Romania (ROM), and Serbia (SRB). The data sources for this analysis are taken from the survey conducted on 1 608 small-scale farms in the above-mentioned countries in 2019. The aim of the paper is to develop a model that could enable the structured analysis of distribution channels. Analytical Hierarchy Process (AHP) method was used for efficient assessment and as a criterion for choosing the most appropriate distribution channel. The results of the analysis show that small-scale farms mostly place their products in green markets and processing plants and th...

Proceedings of the 1st International Conference on Innovation in Information Technology and Business (ICIITB 2022), 2023

The frequency of application of different multi-criteria decisionmaking methods in business and f... more The frequency of application of different multi-criteria decisionmaking methods in business and financial problems is justified by the diversity and complexity of business decisions. The methods enable analysts and decisionmakers to assess when making a decision. This research aims to present the contribution of multi-valued relationship methods in assessing operational risks in banks operating in Serbia. The article shows that the multi-criteria approach used in the initial phase of identifying operational risk increases the potential of bank management for further risk management, particularly in operational risk management (ORM). The research also included a comparative analysis of the results obtained by various MCDM methods, which were more concerned with business risk analysis. An example of a decision-making problem in operational risk management is presented, showing how the issue of decision-making in operational risk management is structured using the BWM method. The use of the BWM method proved to be highly acceptable for decision-makers in banks compared to other models. In all MCDM models, external factors and human resources rank first. The results unequivocally indicated the significant influence of external factors on banking operations-the consequences of the COVID-19 pandemic, part-time work, hacker attacks, economic policy, and adjustment of the economy to epidemiological restrictions. The approach is simple and provides an effective method that can be successful in solving other decision-making problems.

Ekonomika poljoprivrede

This paper will analyse the export of agricultural products of Serbia to the EU during the period... more This paper will analyse the export of agricultural products of Serbia to the EU during the period from 2001 to 2017. A panel gravity model was used to assess the effects of trade flows. The main advantage of the gravity model is the application of basic indicators of the economy and the ability to evaluate panel series. The obtained results show that the size of the economy, measured by gross domestic product, the size of the market of foreign trade partners, measured by population, and the distance between trading partner countries, have measurable effects on the export of agricultural products from Serbia to the EU. Using a simple econometric model, we analysed the effects of Serbia's international trade and noticed that there is significant room for improving the exchange between Serbia and EU members. A multi-variable model would provide more information to trade policy makers.

Trendovi u Poslovanju, 2021

Upravljanje kreditnim rizikom predstavlja jedan od najvažnijih bankarskih poslova, kako u razvije... more Upravljanje kreditnim rizikom predstavlja jedan od najvažnijih bankarskih poslova, kako u razvijenim zemljama, tako i u zemljama u razvoju. Pored brojnih metoda i tehnika, banke pribegavaju zaključivanju posebnih kreditnih sporazuma (loan covenants) prilikom odobravanja kredita privrednim subjektima. Posebne odredbe ovakvog sporazuma obezbeđuju dodatnu sigurnost zajmodavcu da neće biti oštećen prilikom pozajmljivanja sredstava. U ovim zajmovnim sporazumima, osiguranje ima značajnu ulogu, bilo da se radi o korporativnom ili bankarskom zaduživanju. U ovom radu predmet razmatranja je uloga osiguranja kao zajmovnog sporazuma u kreditiranju preduzeća prvenstveno od strane banaka. Cilj rada je da opiše značaj i ulogu osiguranja u procesu kreditiranja preduzeća, da ukaže na benefite postojanja odredbi vezanih za osiguranje u ugovoru o kreditu i po zajmodavca i po zajmoprimca, i da pruži kratak prikaz korišćenja osiguranja kao metoda za podelu rizika, odnosno metoda za upravljanje kreditnim rizikom uopšteno posmatrano, sa osvrtom na korišćenje ovakvog vida sporazuma i u Srbiji.

Ekonomski pogledi, 2021

This paper shows that weak legal and political institutions and high macroeconomic volatility sho... more This paper shows that weak legal and political institutions and high macroeconomic volatility shorten the maturity of cross-border bank lending. Although these results are confirmed in the previous literature, this paper uses a broader panel data set of 135 countries from 1983 to 2012. Data also suggest new finding that the maturity of international bank credit and per capita GDP are positively correlated. The share of debt incurred by banks shortens the maturity, while the share of debt incurred by governments lengthen the maturity of cross-border credit. Our results are robust after we control for potential endogeneity.

Tehnicki Vjesnik, 2021

Decision making and management are synonyms Banks are facing a number of business risks and opera... more Decision making and management are synonyms Banks are facing a number of business risks and operational risk is prevalent Risk management is related to making decisions;therefore, it is important for the whole organization The aim of this paper is to develop a decision-making system when choosing the method of operational risk management by using the Analytical Hierarchical Process (AHP) AHP is an efficient process in solving decision-making problems The final decision depends on the evaluation of a set of alternatives and decision criteria Therefore, AHP defines the criteria related to operational risk and the alternatives that the bank management can undertake in order to successfully manage operational risk The main purpose of the process is to find appropriate solutions for defined user factors in the current competitive environment The results, obtained by the classical numerical method show that External Factors is the dominant criterion, especially during the financial crisis...

Agriculture is an important economic sector in Serbia with the largest percentage of small and fa... more Agriculture is an important economic sector in Serbia with the largest percentage of small and family farms. In order to improve this business and the survival of small farms in Serbia, the goal of the paper is to select the criteria for the survival of small farms in Serbia by applying the concept of analytical hierarchical processes (the AHP method). The research was conducted in Serbia on the sample of 550 small farms, comparing economic indicators based on the criteria that can contribute to achieving the goals of agricultural enterprises. Each indicator was evaluated and considered in relation to the set criteria, such as investments in farms, information available to farms, distribution channels of agricultural products, and the quality of agricultural products. The results of the survey showed that the best ranked indicator of the survival of small farms in Serbia is the level of education and knowledge of farmers, holders of farms.

Megatrend revija, 2014

Vladimir Ristanović * uDK 330.43:331.56(4-672Eu) pregledni naučni članak AGONIJA NEZAPOSLENOSTI U... more Vladimir Ristanović * uDK 330.43:331.56(4-672Eu) pregledni naučni članak AGONIJA NEZAPOSLENOSTI U EVROZONI u ovom radu posvetićemo pažnju evoluciji problema nezaposlenosti u Evrozoni. Cilj nam je da sagledamo gde su koreni problema nezaposlenosti i da iznađemo razloge, sada već hroničnog problema nezaposlenosti. pokazaćemo koji su osnovni činioci koji produžavaju agoniju nezaposlenosti i da li ima izgleda da u bliskoj budućnosti problem nezaposlenosti bude prošlost za Evrozonu. u analizi zemalja Evrozone pratićemo osnovne makroekonomske pokazatelje ravnoteže u jednoj privredi-BDp, inflaciju i nezaposlenost. Sagledaćemo da li je i monetarna strategija inflatornog targetiranja doprinela problemu nezaposlenosti, kroz smanjenje potencijalnog autputa, ali i potvrditi da u uslovima globalne krize postoje neka odstupanja od teorijskih koncepata osnovnih makroekonomskih relacija-okunovog zakona i Filipsove krive. u borbi protiv problema nezaposlenosti na tržištu rada koristićemo konvencijalne politike-monetarnu i fiskalnu, ali i specifične politike-politiku dohotka i institucionalnu politiku. Konačno, pokazaćemo da je/bi jedino Nemačka, sa "malom" žrtvom, mogla da spase realni sektor, kako perifernih mediteranskih zemalja, tako i cele Evrozone.

Facta universitatis-series: Economics and …, 2010