An empirical examination of consumer preferences for honey in Croatia

In past years, beekeeping as an agricultural sector has become more organized, but there is still a gap in knowledge in considering consumer preferences for honey. The aim of the research was to determine consumer preferences for honey and their attitudes towards the Protected Designation of Origin (PDO) label. Also, in the article is presented the current situation regarding the honey market and legislation of the PDO label at the EU and national levels. The result of the empirical research carried out on a sample of 1008 respondents showed that they mostly prefer a mild flavour and brighter colour of honey. According to the type, most of the respondents prefer acacia rather than floral and meadow honeys or other types of honey. The most common method of honey purchase is directly from the producers (75%). The results of the Principle Component Analysis (PCA) showed that the most important attributes are the intrinsic attributes of the honey and that the most common reasons for purchasing and consuming honey are for its health and medical benefits. The obtained results fill the gap in knowledge regarding consumer preferences for honey in the Croatian market and can be useful for the creation of new honey-marketing strategies for local beekeepers.     

The effectiveness of fiscal spending in Croatia,Slovenia and Serbia: the role of trade openness and public debt level

Various structural characteristics of economies, directly or indirectly, affect the transmission from government stimuli to economic activity and determine the size of fiscal multipliers. In this article, we expand the standard Blanchard–Perotti fiscal SVAR model by incorporating the public debt and trade openness variables to assess the influence of these structural determinants on the effectiveness of fiscal spending in three selected former Yugoslav countries – Slovenia, Croatia and Serbia. The results confirmed the main hypotheses, which state that public debt level and trade openness significantly affect the effectiveness of fiscal spending through the means of reduction in size of fiscal effects in all countries analysed. When comparing internationally, this reduction tends to be more evident in countries with a higher degree of average public debt level and trade openness.     

Specifics of Real Estate Taxation in the Czech and Slovak Republics

International Advances in Economic Research - This article is focused on the real estate tax in the Czech and Slovak Republics. Different approaches to the tax are applied (determination of...     

Modelling driver propensity for traffic accidents: a comparison of multiple regression analysis and fuzzy approach

Abstract

This research proposes an assessment and decision support model to use when a driver should be examined about their propensity for traffic accidents, based on an estimation of the driver’s psychological traits. The proposed model was tested on a sample of 305 drivers. Each participant completed four psychological tests: the Barratt Impulsiveness Scale (BIS-11), the Aggressive Driving Behaviour Questionnaire (ADBQ), the Manchester Driver Attitude Questionnaire (DAQ) and the Questionnaire for Self-assessment of Driving Ability. In addition, participants completed an extensive demographic and driving survey. Various fuzzy inference systems were tested and each was defined using the well-known Wang-Mendel method for rule-base definition based on empirical data. For this purpose, a programming code was designed and utilized. Based on the obtained results, it was determined which combination of the considered psychological tests provides the best prediction of a driver’s propensity for traffic accidents. The best of the considered fuzzy inference systems might be used as a decision support tool in various situations, such as in recruitment procedures for professional drivers. The validity of the proposed fuzzy approach was confirmed as its implementation provided better results than from statistics, in this case multiple regression analysis.     

The Effect of Investment,LFA and Agri-environmental Subsidies on the Components of Total Factor Productivity: The Case of Slovenian Farms

The effect of subsidies on the performance of farms has received a great deal of attention in the literature, although results are inconclusive. Furthermore, much of the related literature examines the effect of subsidies only on technical efficiency (TE). We examine the effect of different types of subsidies on the different components of total factor productivity (TFP) in Slovenian agriculture over the period 2006–2013. We first estimate a Random Parameter Stochastic production frontier model. Then, based on the estimates of this model, we calculate and decompose the TFP index into TE, scale efficiency and technological change. Third, we apply combined difference-in-difference and a matching estimator to examine the effect of investment, less favoured area (LFA) and agri-environmental (AE) subsidies on the different components of TFP. In our case, these subsidies are found to have no significant effect on either TFP or on its components.     

New development: Between politics and strategic planning—the management of government priorities in Lithuania

ABSTRACT

How do political agendas impact on strategic planning practices? This article shows that recent changes to the framework for managing government priorities have made Lithuania’s strategic planning system more politically responsive by mobilizing political attention, leadership and state funding to major government commitments. However, these changes have not yet translated into any longer term outcomes because policy implementation practices did not change very much.     

Stock market contagion in Central and Eastern Europe: unexpected volatility and extreme co-exceedance

We examine whether there is contagion from the US stock market to six Central and Eastern European stock markets. We use a novel measure of contagion that examines whether volatility shocks in the US stock market coupled with negative returns are followed by higher co-exceedance between US and emerging stock markets. Using our approach and controlling for a set of market-related variables, we show that during the period from 1998 to 2014, financial contagion occurred, that is, unexpected negative events in the US market are followed by higher co-exceedance between US and Central and Eastern European stock markets. Even though contagion is stronger during the financial crisis, it also occurs in tranquil times.     

Study of Effective Corporate Tax Rate and Its Influential Factors: Empirical Evidence from Emerging European Markets

This article examines the driving factors of the effective corporate tax rate (ECTR) for a sample of companies listed on five Eastern European stock exchanges (Romania, Hungary, Poland, Bulgaria, and Slovenia), covering the period 2000–2016. The empirical research covers variables regarding firm characteristics (e.g., profitability, efficiency of assets, indebtedness, liquidity, and solvency), firm-level controls, auditing fees, and the statutory rate. The estimated panel data models provide support for a positive link between the ECTR and profitability, debt, capital and inventory intensity, firm size, and statutory rate, strengthening the validity of political cost theory. Further, the negative link between market capitalization and assets growth supports the idea of political power theory.     

A study on the competitive strategy of the universal postal service provider

We analysed how the universal postal service providers could employ their specificities to achieve an advantage over the growing competition. The basic input for the model is expert opinions. We interviewed 18 experts in five stages. As a multiple criteria decision support method, we used an analytic hierarchy process. Further, we proposed a geometric method for determining the business area where a company should focus its biggest attention to achieve the best result. By implementing the proposed model, a company should obtain two types of business directions, the first related to the proposed activities and the second to the business areas. To demonstrate the applicability of the proposed methodology, we tested and verified it in the case of the Serbian universal postal service provider which is a state-owned company called the Post of Serbia.