Goranka Knežević | University Singidunum, Belgrade, Serbia (original) (raw)

Papers by Goranka Knežević

Research paper thumbnail of Klimatske promene i upravljanje vremenskim rizicima u poljoprivredi

Despite the constant development of the system of forecasting unpredicted events and risks, there... more Despite the constant development of the system of forecasting unpredicted events and risks, there are many economic sectors where revenues depend directly on the wheather variables. Risk management is a continuous process whose goals are to predict and stabilize cash flows and maximize profit of a company. Weather derivatives are special form of financial risk transfer instruments and they are associated with specific weather events or conditions that directly or indirectly affect the third party outcomes. Unlike traditional insurance contracts, weather derivatives are realized when the agreed time variable exceeds a predefined value for a specific period. Therefore, financial derivatives make more probable the uncertainty of future operations in terms of present actions. Market for the weather derivatives is the youngest and also the fastest growing market for financial derivatives. Insurance against weather risk primarily was applied in the energy sector. Market development and th...

Research paper thumbnail of Market production of meat as a factor of the achieved level of development of Serbian agriculture

Ekonomika poljoprivrede, 2018

In the paper, the mutuality of the market production of beef, pigmeat, sheep meat and poultry mea... more In the paper, the mutuality of the market production of beef, pigmeat, sheep meat and poultry meat and the achieved level of development of agriculture as per Serbia's districts in the period from 2001 to 2016 are analyzed. The ranking of districts in Serbia is done by the I-distance method. Similarities are determined by cluster analysis method, while results are represented by a dendrogram. Belgrade District shows a deficit in the market production of all meats. In the three districts of Vojvodina Region, there is a deficit in sheep meat and in the two districts, there is a deficit in poultry meat. The three districts of Sumadija and Western Serbia Region, there is a deficit in the production of pigmeat and poultry meat. The Region of Southern and Eastern Serbia has a deficit in the production of poultry meat.

Research paper thumbnail of The Impact of Ict in Business in Tourism-Improving Efficiency, Productivity and Business Performance

Proceedings of the International Scientific Conference - Sinteza 2016, 2016

Tourism is one of the most complex industries, which exerts considerable impact on other industri... more Tourism is one of the most complex industries, which exerts considerable impact on other industries. Many abandon the thesis that tourism is a result of economic development, but increasingly accept the claim that tourism is a factor of economic development. Information and communication technologies (ICT) have been confirmed, as they increase efficiency, productivity and improve overall business performances. Numerous authors have examined the relationship between ICT application and business tourism development, but also with the aim to prove the application of various models from different perspectives. This paper aims to present some of the aspects of the connection between the application and development of ICT and improvement factors in tourism business.

Research paper thumbnail of Grinfild investicije u Srbiji i zemljama u okruženju u tranziciji sa aspekta interesa stranih investitora

Proceedings of the International Scientific Conference - Synthesis 2015, 2015

Research paper thumbnail of Accounting and Non-accounting Concepts of Effective Tax Rates and their Effects on Tax Planning in State-owned Companies

Lex localis, Apr 17, 2023

Research paper thumbnail of Earnings Management to Achieve Benchmark Targets: A Case of Serbian Listed Companies

The aim of this study is to investigate whether and how Serbian companies manage earnings to avoi... more The aim of this study is to investigate whether and how Serbian companies manage earnings to avoid losses and to avoid earnings decreases. The empirical evidence found in this study shows that there is a discontinuity in the distribution of reported earnings around the zero earnings benchmark suggesting that Serbian companies engage in earnings management to avoid reporting losses. Furthermore, this continuity disappears when we subtracted discretionary accruals from reported earnings indicating that Serbian companies use discretionary accruals as a tool for earnings management. However, the distribution of earnings does not provide evidence that Serbian companies manage earnings to avoid earnings decreases. These results are robust to alternative methods of scaling earnings and various ways of estimating discretionary accruals.

Research paper thumbnail of Analiza finansijskih izveštaja

Research paper thumbnail of Specifičnosti vrednovanja ljudskih resursa u fudbalskoj industriji

Vrednovanje fudbalera je od velike važnosti, buduci da je procenjenom vrednoscu određena visina t... more Vrednovanje fudbalera je od velike važnosti, buduci da je procenjenom vrednoscu određena visina transfera i visina ugovorenih zarada. Osnovna svrha rada je prikazivanje osnovnih metoda vrednovanja ljudskih resursa u fudblaskoj industriji, i ukazivanje na njihove slabosti. Pored toga, prikazuju se cinioci koji determinisu vrednost igraca, i koje vrednovanje igraca cine kompleksnim u meri u kojoj ono to jeste. U radu se ukazuje i na osnovne koncepte vrednosti na kojima je vrednovanje ljudskih resursa u fudbalskoj industriji zasnovano, kao i povezanost koncepata vrednovanja sa tržistem kojem igrac pripada.

Research paper thumbnail of Management Control Review

The aim of this study is to investigate whether and how Serbian companies manage earnings to avoi... more The aim of this study is to investigate whether and how Serbian companies manage earnings to avoid losses and to avoid earnings decreases. The empirical evidence found in this study shows that there is a discontinuity in the distribution of reported earnings around the zero earnings benchmark suggesting that Serbian companies engage in earnings management to avoid reporting losses. Furthermore, this continuity disappears when we subtracted discretionary accruals from reported earnings indicating that Serbian companies use discretionary accruals as a tool for earnings management. However, the distribution of earnings does not provide evidence that Serbian companies manage earnings to avoid earnings decreases. These results are robust to alternative methods of scaling earnings and various ways of estimating discretionary accruals.

Research paper thumbnail of Does Tax Evasion Significantly Contribute to Overall Economic Crime in Serbia?

Tax evasion is one of the main types of economic crime conducted by entities and individuals. We ... more Tax evasion is one of the main types of economic crime conducted by entities and individuals. We have shown that number of individuals prosecuted for tax evasion contributed in 2014 with 28.67% of total prosecuted economic crime acts, and then it rose to 57.45% in the year 2018. That implies that the tax modernization project which covers the period from 2018 to 2023 is a project of great importance.

Research paper thumbnail of Analiza finansijskih izveštaja - drugo izmenjeno i dopunjeno izdanje

Research paper thumbnail of The challenges of implementation of ERP in accounting

Ekonomski pogledi, 2015

Рачуноводствени информациони системи се деле на традиционалне који се заснивају на употреби рачун... more Рачуноводствени информациони системи се деле на традиционалне који се заснивају на употреби рачунара, али где је база података разуђена по одељењима и на интегрисане пословне апликације (ERP-Enterprise resource planning) где свако одељење има могућност приступа подацима који су од значаја за обављање послова у том одељењу и свим другим подацима неопходним за извршење радних задатака. Ова интегрисана пословна решења повећавају пословну ефикасност, омогућавају креирање квалитетних извештаја, као и доношење ефикасних пословних одлука. Међутим, како због веома скупе имплементације ERP решења и због негативних ефеката у смислу опадања радног морала и великих отпора у имплементацији, ова решења су у веома скромном проценту (9,9%) заступљена у предузећима у Србији. Циљ овог рада је да укаже на проблеме и изазове у имплементацији ERP решења, али и да укаже на њихову високу пословну ефикасност једном када су адекватно имплементирана у компанијама.

Research paper thumbnail of New accounting rules for the recognition and measurement of financial instruments: Some issues implied by the IFRS 9

Ekonomski pogledi, 2015

Up until now accounting standards regarding financial instruments were changed several times. The... more Up until now accounting standards regarding financial instruments were changed several times. The latest change was the issuance of the IFRS 9 Financial instruments published for the purpose of simplifying the rules in its predecessor IAS 39 Financial instruments: recognition and measurement. From the above mentioned changes of accounting regulatory regime for financial instruments we may conclude that accounting bodies, so far, have not found the adequate approach and treatment for the financial instruments. They considered that fair value would be a revolutionary measure for the financial instruments and that this measure would provide more relevant, transparent and comparable information. But the standard setters did not predict that this measurement attribute might have an effect on earnings power and financial position of a company. In this paper we observe critiqually the main differences between IFRS 9 and IAS 39 regarding the recognition and measurement of financial instruments and with an emphasis on of some problems of early adoption of IFRS 9 by companies.

Research paper thumbnail of The results of privatization of the Sahara bank Libya

Ekonomski pogledi, 2015

The purpose of this paper is to evaluate privatization process, obstacles and difficulties faced ... more The purpose of this paper is to evaluate privatization process, obstacles and difficulties faced by the Libyan economy, particularly financial institutions, mainly banks. Despite the fact that goals of privatization proclaimed by the Government dereliction in the area of developing financial markets and making the economy more efficient, it is the process with many obstacles. Privatization has also been motivated with political reasons and all the effects of it in this paper will be considered through this prism. In this paper we analyzed the privatization of one of the largest commercial banks in Libya, named Sahara bank. This bank was purchased by French BNP Paribas bank and the results of this privatization supported the idea that when privatization process is led efficiently and smoothly it affects the entity its employees and economy as a wholpositively affects the entity, its employees and economy as a whole.

Research paper thumbnail of Upgrading waste management and sustainability reporting in banking industry: Evidence from Serbia

Industrija, 2018

This paper examines banking industry practice in the area of circular economy reporting with the ... more This paper examines banking industry practice in the area of circular economy reporting with the specific emphasis on waste management reporting in this sector. Paper answers the basic questionis financial service sector exempt from the circular economy reporting requirements having low material usage and resource consumption? Manuscript indicates that in Serbia waste management reporting in banks is in the early stage. Most of the waste management indicators in banks are included as integral part of sustainability reports or as part of management report. Paper indicates that less than half of the bank population in Serbia prepares standard report required by the Environmental Protection Agency. Having in mind these results, banks managers and state officials should take into consideration the fact that most of the banks do not report on flow of waste and most of these indicators are not regularly published on website implying that stakeholders and investors are not adequately informed on the inclusion of banks into circular economy environment. Lagging behind waste management requirements could be potentially hazardous having in mind the fact that Serbia strives towards European Union membership where the legislation and practical alignment with the EU regulation is inevitable process.

Research paper thumbnail of Reporting on sustainable development: Characteristics, disadvantages and perspectives in the Republic of Serbia

Poslovna ekonomija, 2017

SAŽETAK: Izveštavanje o održivom razvoju tradicionalno se vrši kroz izveštaj o poslovanju. Međuti... more SAŽETAK: Izveštavanje o održivom razvoju tradicionalno se vrši kroz izveštaj o poslovanju. Međutim, nakon 2000. godine, sve veći broj kompanija sastavlja poseban izveštaj o održivom razvoju na osnovu postojećih okvira za izveštavanje. Ocenjujući da kvalitet informacija o održivom razvoju nije na adekvatnom nivou, a posebno usled činjenice da se izveštaj o održivom razvoju sastavlja na dobrovoljnoj osnovi, Evropska komisija je donela Direktivu 2014/95/EU, koja je amandman na Direktivu 2013/34/EU, kojom se društvima sa više od pet stotina zaposlenih nalaže obaveza da dopune izveštaj o poslovanju za propisane nefinansijske informacije, odnosno, da pod definisanim uslovima, sastavljaju izveštaj o održivom razvoju prema jednom od postojećih okvira. Istraživanje sprovedeno na društvima koja se

Research paper thumbnail of Fraud Detection in Financial Statements Applying Benford's Law with Monte Carlo Simulation

Acta Oeconomica, 2019

Benford's Law is a useful tool for detecting fraud in financial statements. In this paper we ... more Benford's Law is a useful tool for detecting fraud in financial statements. In this paper we test the financial item named ‘Work performed by the undertaking for its own purpose and capitalised’ applying this tool. The data are taken from the financial reports of all companies submitted to the Serbian Business Register Agency for the period of 2008–2013. Our conclusion shows that there is a very high probability that the frequency distribution of the second digit does not satisfy Benford's Law. In other words, it implies that certain manipulations have been usually done with the second digit of the aforementioned item in the financial statement. This research confirms our hypothesis that financial statement frauds are usually conducted using the second digit.

Research paper thumbnail of CSR reporting practice: Is there room for integration? – Evidence from Serbian foreign investors

Journal of East European Management Studies, 2019

Despite the efforts of companies to invest into CSR reporting and to communicate information to v... more Despite the efforts of companies to invest into CSR reporting and to communicate information to various stakeholders these efforts in Serbia are still at a very low level compared with the developed countries. In this study content analysis is conducted on a sample of companies comprising the list of all investors in Serbia investing more than 100 million € and classified into Privatization M&A and Greenfield investors. CSR disclosure index and Integration index are created and correlation has been established between the two, leading to the conclusion that companies that invest into the CSR reporting put much more effort to integrate financial and non-financial information. From the analysis, it emerges that Privatization segment of sample has a high level of content integration and CSR while Greenfield investor show low level of achievements in CSR and integration process. This paper calls for the need to establish long term orientation towards CSR issues and integration by Serbia...

Research paper thumbnail of Ekonomija Republike Srpske u globalnim ekonomskim procesima: nužnost ili izbor

ZBORNIK RADOVA UNIVERZITETA SINERGIJA, 2016

Informatička ekonomija je relativno novi pojam i pojava koja je nastala 90-tih godina prošlog vek... more Informatička ekonomija je relativno novi pojam i pojava koja je nastala 90-tih godina prošlog veka, ali koja je unela mnoge promene u ekonomske procese, posebno na globalnom nivou. Ovaj rad prezentuje pre svega novi termin koji se pojavio u kontekstu globalne i informatičke ekonomije a to je nova ekonomija. Ovaj termin je već postao opšteprihvaćeni termin u terminologiji izučavanja novih globalnih procesa u ekonomiji koji su bazirani na informatičkoj ekonomiji. Sadržaj termina nove ekonomije određuje one elemente i faktora uticaja na brži ekonomski razvoj na novim osnovama koji za sada pokazuje pun uspeh u zemljama razvijenih ekonomija. Međutim i zemlje ekonomija u razvoju takođe imaju svoju šansu da se u kontekstu novih promena prilagode novinama i na taj način na brži način dostignu viši stepen razvoja ekonomije što bi bio slučaj i sa ekonomijom Republike Srpske.

Research paper thumbnail of Profesionalne prevare kao pretnja funkcionisanju privrednih društava

Proceedings of the International Scientific Conference FINIZ 2016, 2016

Research paper thumbnail of Klimatske promene i upravljanje vremenskim rizicima u poljoprivredi

Despite the constant development of the system of forecasting unpredicted events and risks, there... more Despite the constant development of the system of forecasting unpredicted events and risks, there are many economic sectors where revenues depend directly on the wheather variables. Risk management is a continuous process whose goals are to predict and stabilize cash flows and maximize profit of a company. Weather derivatives are special form of financial risk transfer instruments and they are associated with specific weather events or conditions that directly or indirectly affect the third party outcomes. Unlike traditional insurance contracts, weather derivatives are realized when the agreed time variable exceeds a predefined value for a specific period. Therefore, financial derivatives make more probable the uncertainty of future operations in terms of present actions. Market for the weather derivatives is the youngest and also the fastest growing market for financial derivatives. Insurance against weather risk primarily was applied in the energy sector. Market development and th...

Research paper thumbnail of Market production of meat as a factor of the achieved level of development of Serbian agriculture

Ekonomika poljoprivrede, 2018

In the paper, the mutuality of the market production of beef, pigmeat, sheep meat and poultry mea... more In the paper, the mutuality of the market production of beef, pigmeat, sheep meat and poultry meat and the achieved level of development of agriculture as per Serbia's districts in the period from 2001 to 2016 are analyzed. The ranking of districts in Serbia is done by the I-distance method. Similarities are determined by cluster analysis method, while results are represented by a dendrogram. Belgrade District shows a deficit in the market production of all meats. In the three districts of Vojvodina Region, there is a deficit in sheep meat and in the two districts, there is a deficit in poultry meat. The three districts of Sumadija and Western Serbia Region, there is a deficit in the production of pigmeat and poultry meat. The Region of Southern and Eastern Serbia has a deficit in the production of poultry meat.

Research paper thumbnail of The Impact of Ict in Business in Tourism-Improving Efficiency, Productivity and Business Performance

Proceedings of the International Scientific Conference - Sinteza 2016, 2016

Tourism is one of the most complex industries, which exerts considerable impact on other industri... more Tourism is one of the most complex industries, which exerts considerable impact on other industries. Many abandon the thesis that tourism is a result of economic development, but increasingly accept the claim that tourism is a factor of economic development. Information and communication technologies (ICT) have been confirmed, as they increase efficiency, productivity and improve overall business performances. Numerous authors have examined the relationship between ICT application and business tourism development, but also with the aim to prove the application of various models from different perspectives. This paper aims to present some of the aspects of the connection between the application and development of ICT and improvement factors in tourism business.

Research paper thumbnail of Grinfild investicije u Srbiji i zemljama u okruženju u tranziciji sa aspekta interesa stranih investitora

Proceedings of the International Scientific Conference - Synthesis 2015, 2015

Research paper thumbnail of Accounting and Non-accounting Concepts of Effective Tax Rates and their Effects on Tax Planning in State-owned Companies

Lex localis, Apr 17, 2023

Research paper thumbnail of Earnings Management to Achieve Benchmark Targets: A Case of Serbian Listed Companies

The aim of this study is to investigate whether and how Serbian companies manage earnings to avoi... more The aim of this study is to investigate whether and how Serbian companies manage earnings to avoid losses and to avoid earnings decreases. The empirical evidence found in this study shows that there is a discontinuity in the distribution of reported earnings around the zero earnings benchmark suggesting that Serbian companies engage in earnings management to avoid reporting losses. Furthermore, this continuity disappears when we subtracted discretionary accruals from reported earnings indicating that Serbian companies use discretionary accruals as a tool for earnings management. However, the distribution of earnings does not provide evidence that Serbian companies manage earnings to avoid earnings decreases. These results are robust to alternative methods of scaling earnings and various ways of estimating discretionary accruals.

Research paper thumbnail of Analiza finansijskih izveštaja

Research paper thumbnail of Specifičnosti vrednovanja ljudskih resursa u fudbalskoj industriji

Vrednovanje fudbalera je od velike važnosti, buduci da je procenjenom vrednoscu određena visina t... more Vrednovanje fudbalera je od velike važnosti, buduci da je procenjenom vrednoscu određena visina transfera i visina ugovorenih zarada. Osnovna svrha rada je prikazivanje osnovnih metoda vrednovanja ljudskih resursa u fudblaskoj industriji, i ukazivanje na njihove slabosti. Pored toga, prikazuju se cinioci koji determinisu vrednost igraca, i koje vrednovanje igraca cine kompleksnim u meri u kojoj ono to jeste. U radu se ukazuje i na osnovne koncepte vrednosti na kojima je vrednovanje ljudskih resursa u fudbalskoj industriji zasnovano, kao i povezanost koncepata vrednovanja sa tržistem kojem igrac pripada.

Research paper thumbnail of Management Control Review

The aim of this study is to investigate whether and how Serbian companies manage earnings to avoi... more The aim of this study is to investigate whether and how Serbian companies manage earnings to avoid losses and to avoid earnings decreases. The empirical evidence found in this study shows that there is a discontinuity in the distribution of reported earnings around the zero earnings benchmark suggesting that Serbian companies engage in earnings management to avoid reporting losses. Furthermore, this continuity disappears when we subtracted discretionary accruals from reported earnings indicating that Serbian companies use discretionary accruals as a tool for earnings management. However, the distribution of earnings does not provide evidence that Serbian companies manage earnings to avoid earnings decreases. These results are robust to alternative methods of scaling earnings and various ways of estimating discretionary accruals.

Research paper thumbnail of Does Tax Evasion Significantly Contribute to Overall Economic Crime in Serbia?

Tax evasion is one of the main types of economic crime conducted by entities and individuals. We ... more Tax evasion is one of the main types of economic crime conducted by entities and individuals. We have shown that number of individuals prosecuted for tax evasion contributed in 2014 with 28.67% of total prosecuted economic crime acts, and then it rose to 57.45% in the year 2018. That implies that the tax modernization project which covers the period from 2018 to 2023 is a project of great importance.

Research paper thumbnail of Analiza finansijskih izveštaja - drugo izmenjeno i dopunjeno izdanje

Research paper thumbnail of The challenges of implementation of ERP in accounting

Ekonomski pogledi, 2015

Рачуноводствени информациони системи се деле на традиционалне који се заснивају на употреби рачун... more Рачуноводствени информациони системи се деле на традиционалне који се заснивају на употреби рачунара, али где је база података разуђена по одељењима и на интегрисане пословне апликације (ERP-Enterprise resource planning) где свако одељење има могућност приступа подацима који су од значаја за обављање послова у том одељењу и свим другим подацима неопходним за извршење радних задатака. Ова интегрисана пословна решења повећавају пословну ефикасност, омогућавају креирање квалитетних извештаја, као и доношење ефикасних пословних одлука. Међутим, како због веома скупе имплементације ERP решења и због негативних ефеката у смислу опадања радног морала и великих отпора у имплементацији, ова решења су у веома скромном проценту (9,9%) заступљена у предузећима у Србији. Циљ овог рада је да укаже на проблеме и изазове у имплементацији ERP решења, али и да укаже на њихову високу пословну ефикасност једном када су адекватно имплементирана у компанијама.

Research paper thumbnail of New accounting rules for the recognition and measurement of financial instruments: Some issues implied by the IFRS 9

Ekonomski pogledi, 2015

Up until now accounting standards regarding financial instruments were changed several times. The... more Up until now accounting standards regarding financial instruments were changed several times. The latest change was the issuance of the IFRS 9 Financial instruments published for the purpose of simplifying the rules in its predecessor IAS 39 Financial instruments: recognition and measurement. From the above mentioned changes of accounting regulatory regime for financial instruments we may conclude that accounting bodies, so far, have not found the adequate approach and treatment for the financial instruments. They considered that fair value would be a revolutionary measure for the financial instruments and that this measure would provide more relevant, transparent and comparable information. But the standard setters did not predict that this measurement attribute might have an effect on earnings power and financial position of a company. In this paper we observe critiqually the main differences between IFRS 9 and IAS 39 regarding the recognition and measurement of financial instruments and with an emphasis on of some problems of early adoption of IFRS 9 by companies.

Research paper thumbnail of The results of privatization of the Sahara bank Libya

Ekonomski pogledi, 2015

The purpose of this paper is to evaluate privatization process, obstacles and difficulties faced ... more The purpose of this paper is to evaluate privatization process, obstacles and difficulties faced by the Libyan economy, particularly financial institutions, mainly banks. Despite the fact that goals of privatization proclaimed by the Government dereliction in the area of developing financial markets and making the economy more efficient, it is the process with many obstacles. Privatization has also been motivated with political reasons and all the effects of it in this paper will be considered through this prism. In this paper we analyzed the privatization of one of the largest commercial banks in Libya, named Sahara bank. This bank was purchased by French BNP Paribas bank and the results of this privatization supported the idea that when privatization process is led efficiently and smoothly it affects the entity its employees and economy as a wholpositively affects the entity, its employees and economy as a whole.

Research paper thumbnail of Upgrading waste management and sustainability reporting in banking industry: Evidence from Serbia

Industrija, 2018

This paper examines banking industry practice in the area of circular economy reporting with the ... more This paper examines banking industry practice in the area of circular economy reporting with the specific emphasis on waste management reporting in this sector. Paper answers the basic questionis financial service sector exempt from the circular economy reporting requirements having low material usage and resource consumption? Manuscript indicates that in Serbia waste management reporting in banks is in the early stage. Most of the waste management indicators in banks are included as integral part of sustainability reports or as part of management report. Paper indicates that less than half of the bank population in Serbia prepares standard report required by the Environmental Protection Agency. Having in mind these results, banks managers and state officials should take into consideration the fact that most of the banks do not report on flow of waste and most of these indicators are not regularly published on website implying that stakeholders and investors are not adequately informed on the inclusion of banks into circular economy environment. Lagging behind waste management requirements could be potentially hazardous having in mind the fact that Serbia strives towards European Union membership where the legislation and practical alignment with the EU regulation is inevitable process.

Research paper thumbnail of Reporting on sustainable development: Characteristics, disadvantages and perspectives in the Republic of Serbia

Poslovna ekonomija, 2017

SAŽETAK: Izveštavanje o održivom razvoju tradicionalno se vrši kroz izveštaj o poslovanju. Međuti... more SAŽETAK: Izveštavanje o održivom razvoju tradicionalno se vrši kroz izveštaj o poslovanju. Međutim, nakon 2000. godine, sve veći broj kompanija sastavlja poseban izveštaj o održivom razvoju na osnovu postojećih okvira za izveštavanje. Ocenjujući da kvalitet informacija o održivom razvoju nije na adekvatnom nivou, a posebno usled činjenice da se izveštaj o održivom razvoju sastavlja na dobrovoljnoj osnovi, Evropska komisija je donela Direktivu 2014/95/EU, koja je amandman na Direktivu 2013/34/EU, kojom se društvima sa više od pet stotina zaposlenih nalaže obaveza da dopune izveštaj o poslovanju za propisane nefinansijske informacije, odnosno, da pod definisanim uslovima, sastavljaju izveštaj o održivom razvoju prema jednom od postojećih okvira. Istraživanje sprovedeno na društvima koja se

Research paper thumbnail of Fraud Detection in Financial Statements Applying Benford's Law with Monte Carlo Simulation

Acta Oeconomica, 2019

Benford's Law is a useful tool for detecting fraud in financial statements. In this paper we ... more Benford's Law is a useful tool for detecting fraud in financial statements. In this paper we test the financial item named ‘Work performed by the undertaking for its own purpose and capitalised’ applying this tool. The data are taken from the financial reports of all companies submitted to the Serbian Business Register Agency for the period of 2008–2013. Our conclusion shows that there is a very high probability that the frequency distribution of the second digit does not satisfy Benford's Law. In other words, it implies that certain manipulations have been usually done with the second digit of the aforementioned item in the financial statement. This research confirms our hypothesis that financial statement frauds are usually conducted using the second digit.

Research paper thumbnail of CSR reporting practice: Is there room for integration? – Evidence from Serbian foreign investors

Journal of East European Management Studies, 2019

Despite the efforts of companies to invest into CSR reporting and to communicate information to v... more Despite the efforts of companies to invest into CSR reporting and to communicate information to various stakeholders these efforts in Serbia are still at a very low level compared with the developed countries. In this study content analysis is conducted on a sample of companies comprising the list of all investors in Serbia investing more than 100 million € and classified into Privatization M&A and Greenfield investors. CSR disclosure index and Integration index are created and correlation has been established between the two, leading to the conclusion that companies that invest into the CSR reporting put much more effort to integrate financial and non-financial information. From the analysis, it emerges that Privatization segment of sample has a high level of content integration and CSR while Greenfield investor show low level of achievements in CSR and integration process. This paper calls for the need to establish long term orientation towards CSR issues and integration by Serbia...

Research paper thumbnail of Ekonomija Republike Srpske u globalnim ekonomskim procesima: nužnost ili izbor

ZBORNIK RADOVA UNIVERZITETA SINERGIJA, 2016

Informatička ekonomija je relativno novi pojam i pojava koja je nastala 90-tih godina prošlog vek... more Informatička ekonomija je relativno novi pojam i pojava koja je nastala 90-tih godina prošlog veka, ali koja je unela mnoge promene u ekonomske procese, posebno na globalnom nivou. Ovaj rad prezentuje pre svega novi termin koji se pojavio u kontekstu globalne i informatičke ekonomije a to je nova ekonomija. Ovaj termin je već postao opšteprihvaćeni termin u terminologiji izučavanja novih globalnih procesa u ekonomiji koji su bazirani na informatičkoj ekonomiji. Sadržaj termina nove ekonomije određuje one elemente i faktora uticaja na brži ekonomski razvoj na novim osnovama koji za sada pokazuje pun uspeh u zemljama razvijenih ekonomija. Međutim i zemlje ekonomija u razvoju takođe imaju svoju šansu da se u kontekstu novih promena prilagode novinama i na taj način na brži način dostignu viši stepen razvoja ekonomije što bi bio slučaj i sa ekonomijom Republike Srpske.

Research paper thumbnail of Profesionalne prevare kao pretnja funkcionisanju privrednih društava

Proceedings of the International Scientific Conference FINIZ 2016, 2016