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As a main input for economic growth and competitiveness, foreign direct investments (FDI) remain one of the most important sources in both emerging and developing countries. This study emphasizes t...

Banknotes and coins are some of the most frequently traded items in the world. Their current use, however, is unsustainable, and many countries are trying to digitalize their payment systems. The recent pandemic has accelerated this transition. Building on the Theory of Unintended Consequences, the aim of this article is to examine the influence of some pandemic-specific factors (in specific, hand sanitization, conspiracy theory mentality, and financial acumen) on the current and prospective use of e-payment. A particular aim of the study is to analyze these relationships in Serbia (as an example of a cash-centric society). The study is based on primary data gathered via a questionnaire. The questionnaire was designed for the purpose of this study. In total, the study examined N = 474 examinees. The results of this study confirm that the pandemic-induced variables are statistically significant predictors of e-payment use. In particular, hand sanitization, conspiracy mentality (reversely), and financial acumen positively affect current and prospective e-payment use.

This paper responds to a recent call for re­search on public administration innovations as a necessity for the development of modern gov­ernance. In particular, this paper aims to exam­ine the role of high-performing human resource practices in fostering the innovation of public administration. In addition, the study explores the mediating effect of failure management practices on innovativeness. A sample of 618 political appointees and civil servants from Ser­bian central administration was used to test the aforementioned hypotheses. The results indicate that high performing human resource practices have a positive effect on innovativeness. How­ever, the magnitude of specific practices varies significantly.

In the past few decades, IC has been viewed as a crucial factor for improved financial performance of IT companies. Globally, the IT industry has shown positive trendlines and the tremendous importance of intangible resources as part of intellectual capital. Intellectual capital per se may not be a novel topic in the IT industry. Nonetheless, this paper focuses on determining which type of intellectual capital is paramount for financial success, which has remained an open puzzle. The aim of this paper is to analyse the human, relational, structural and innovation capital of IT companies and to measure their impact on financial performance. Moreover, the authors have analysed the impact of the intellectual capital elements on several key performance indicators as the most frequently used in these kinds of studies. In order to address this aim, the study collected primary data from 101 respondents – business owners, managers and experts from a rapidly growing IT ecosystem in South-East Europe. Most research has focused on developed countries for addressing similar topics. Therefore, the authors call out for additional research of this topic in other emerging and developing environments. The findings of this study indicate a positive effect of intellectual capital on business performance. This study raises awareness among business experts in the field of intellectual capital, and supports decision-making through the concept of identifying, managing and analysing intellectual capital and its effect on overall business results. Even though the IT industry has become global, this study draws exceptional attention to the interplay between IC and financial performance in a developing IT ecosystem setting.

Process and leadership principles are the most important principles in every organization. Implementing or modifying new principles is mostly considered as a strategic change. However, there are some processes that have not been changed. Due to bureaucracy, conservative management and leadership principles, financial processes have been treated as universal without any needs for changing. Budgets have always played a big role in controlling the business performance of organizations. This paper emphasises the importance of making strategic changes in budgeting processes. Recently, budgets as the result of the budgeting process have become a subject of criticism. Budgeting as a concept of controlling has made businesses less flexible, even though nowadays flexibility is one of the most important factors which could determine the success of an organization. In a highly turbulent environment, traditional budgeting started being treated as a non-efficient way of controlling and running a business. This paper will summarize the reasons why companies all over the world start abandoning the concept of traditional budgeting and start implementing a new, more flexible concept, called Beyond Budgeting. Originally, the concept of Beyond Budgeting was implemented by Svenska Handelsbanken - a Swedish bank. This company has made an increase in almost every business process considering the relevant performance indicators. Beyond Budgeting modifies business processes and the need for a certain level of radical changes followed through the imple­mentation of Beyond Budgeting principles. The author will point out which factors are possible limitations in using Beyond Budgeting. On the other hand, the author will show the necessary conditions which need to be fulfilled in order to implement Beyond Budgeting concept and get the benefits of using the business methodology.

As part of a safety-first principle during the COVID-19 pandemics, the vast majority of companies have enabled flexible working environments, reducing the number of employees in the premises. The global best practices have firstly been recorded among the ICT companies which offered teleworking to their employees, empowering safety and flexibility through remote work policies and flexible working hours. Although hybrid working models might become a standard in many industries, only a paucity of papers has examined the relationship between novel working environments and various classes of intangible assets. The aim of this paper is to present the effects of hybrid working models (telework and flexible working hours) on intangible assets (human, relational, structural and intellectual capital). While the existing hybrid work principles have already shown mixed effects on corporate outcomes, its impact on intangible assets remains unrevealed. To address this research gap, we conducted an empirical study. Primary data were collected in the Serbian ICT sector (N=122) using a structured questionnaire developed for this purpose. Data was analyzed with the OLS regression. The results confirm the positive effects of the hybrid working model on intangible assets of ICT companies, which could further propel the financial success of these companies. In general, these results imply that hybrid working models, which are becoming a standard for many industries, would not jeopardize the creation of intangible assets – the ultimate resource of modern companies © 2021, Amfiteatru Economic. All Rights Reserved.