Institute of Economics

Permanent URI for this communityhttps://repository.ukim.mk/handle/20.500.12188/27

Browse

Filters

2014 - 201935

Settings

End date: 2019Has files: Yes

Search Results

Now showing 1 - 10 of 35
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    TRADE-OFF BETWEEN LIQUIDITY AND PROFITABILITY: AN EMPIRICAL STUDY OF PHARMACAUTICAL SECTOR IN THE REPUBLIC OF NORTH MACEDONIA
    (Timisoara Journal of Economics and Business, 2019)
    Snezhana Hristova, Dushica Stevchevska-Srbinoska, Ivona Mileva and Angela Zafirova
    The relationship between liquidity and profitability is one of the most interesting topics in the corporate finance re- search. Having in mind that the pharmaceutical industry is one of the most competitive sectors globally and that its substantial investments in research and development make this industry a key asset for a country’s economic well-being, this paper examines the liquidity-profitability trade off in pharmaceutical sector of RNM. The empirical research en- gages the secondary annual financial report data of the two pharmaceutical companies listed on Macedonian Stock Exchange (MSE) over the period from 2006-2016. Current ratio (CR), quick ratio (QR) and cash ratio (CAR) were used as measures of liquidity while return on assets (ROA) and return on equity (ROE) were used to measure profitability as a dependent variable. The statistical tests used to evaluate the effects of liquidity on profitability involved descriptive statistics, correlation and regression analysis. The findings suggest that there is no significant relationship between profitability and liquidity determinants of the listed North Macedonian pharmaceutical firms. Regarding practical implications, these findings can help managers overcome dilemmas with respect to the liquidity and profitability trade- off. Furthermore, this study contributes to the existing re- search base in this field and represents one of the pioneer attempts in the case of RNM. The results gained from the research are very important for companies themselves, but they can also serve as a starting point for future research to eliminate financial and other corporate issues related to the relationship between profitability and liquidity determinants.
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    Government institutional support for fostering SME’s innovation in Western Balkan countries
    (Economic Development, Journal of Institute of Economics - Skopje, 2019-12)
    ;
    ;
    Boskovska, Diana
    ;
    Petkovska Mirchevska, Tatjana
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    Fiscal implications from the political crisis in the Republic of North Macedonia
    (Economic Development, Journal of Institute of Economics - Skopje, 2019-06)
    ;
    Kostadinoska Miloseska, Snezana
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    The Macedonian General Administrative Procedure Act: Between Tradition and Modernisation
    (Institute of Public Administration, Zagreb and Faculty of Law, University of Zagreb, 2017)
    Pavlovska Daneva, Ana
    ;
    The paper outlines the process of the modernisation and improvement of the general administrative procedure in FYR Macedonia. Besides a review of the key novelties and accompanying critical remarks, the paper presents the standards and guidelines for the functioning of the administration which served as a basis for the preparation of the Macedonian Administrative Procedure Act (GAPA), along with various theoretical perspectives on their sources, applicability, and value in use. The purpose of this research is to point out the positive aspects and the shortcomings of the new legislation, which can in turn be used for the further development of the legal doctrine in the field of administrative law, as well as to strengthen the concept of good governance for being implemented by competent public authorities, where the GAPA features as the primary tool for legal and efficient operation
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    The impact of socio-economic factors on the youth unemployment-the case of republic of north Macedonia
    (Institute of Economic Sciences Belgrade, 2019)
    ;
    Petkovska Mirchevska, Tatjana
    ;
    ;
    The main objective of the paper is to determine the socio-economic factors that influence youth unemployment in the Republic of North Macedonia. The findings are based on the Principal Component Analysis (PCA) of vital socio-economic indicators that influence the problem of youth unemployment. In particular, the goal of the research is to identify the connections of several socio-economic indicators that reflect the situation of youth unemployment in the Republic of North Macedonia.
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    Gender inequality on the Macedonian labour market
    (2019)
    ;
    Djambaska, Elizabeta
    ;
    The labour market is facing different forms of inequality and discrimination against workers on the basis of gender, age and health. Gender gaps are one of the most pressing challenges. Globally, women are substantially less likely than men to participate on the labour market and to find jobs. Their access to quality employment opportunities is limited. Many researches have shown that there is a significant difference between the genders, in terms of the wage levels, occupation, working hours, economic status, duration of the unemployment etc. The research hypothesis of the paper is that Republic of Macedonia has gender inequality on its labour market, seen through different position of men and women regarding their economic activity, employment and unemployment. The aim of the paper is to identify the level of gender inequality and the differences between men and women on the Macedonian labour market. The paper consists of two segments. The first is focused on the theoretical aspects of the gender inequality, as well as on the measures and indicators which can determine the scale of gender inequality. In the second part, the situation on the Macedonian labour market regarding the position and differences between men and women is observed. For that purpose, the economic activity, employment and unemployment of men and women (by age, educational attainment, economic status, working hours, sectors of activity, occupations, wages and other) is analyzed. The results of the analysis show that the position of women was and remains worse than of the men. It is seen in their lower participation in the economic activity and employment in the country, in the higher unemployment rates, longer unemployment, lower wages, in an increase of the average time to find work, in the proportion of women in traditionally female occupations etc. The gender inequality demands more attention in order to improve existing legislation and to implement labour market policies which will ensure higher participation of women on the labour market. Therefore, the paper, also, notes some recommendations to overcome the unfavorable situation of women on the Macedonian labour market. The study of the gender inequality on the Macedonian labour market is made for the last decade, using the available data from the State Statistical office of the Republic of Macedonia. For the purpose of the research, reports, data and statistical analyses on gender inequality from different international institutions (Eurostat, World Bank, World Economic Forum and International Labour Organization) are also used. Concerning the methodology, the study is based on the qualitative methods such as: analysis of literature and documents and deductive reasoning, as well as on the quantitative method of descriptive statistics
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    Market capitalization and factors of its determination – the case of Republic of Macedonia
    (Annals of the University of Petroşani, Economics, AUPE Romania, 2016)
    ;
    Djambaska, Elizabeta
    ;
    ;
    Georgieva Svrtinov, Vesna
    The development of the capital market considered thru the market capitalization coefficient (in total amount and in percentage changes) in relation with the GDP of the Republic of Macedonia is the subject of research of this paper. The analysis identifies and explains the factor of capital market development. The focus of the paper is to determine the effects of different factors on the capital market development in the Republic of Macedonia. For these purpose a multivariate linear regression is conducted using the data from 1997-2013. The analysis indicates that the capital market in the Republic of Macedonia is small and underdeveloped. Therefore the economic growth factors taken into consideration for the research have not shown considerable impact on the capital market due to its underdevelopment
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    Barriers of implementing open innovations in Macedonian SME’s
    (Economic Development, Journal of the Institute of Economics – Skopje, 2015-12)
    ;
    ;
    Open innovation is a concept of growing acceptance in the field of innovation management. It is based on the idea that companies can leverage the knowledge generated externally to improve their innovation performance. Shorter innovation cycles, the rising costs of industrial research and development, and a lack of resources have motivated many organizations to change their innovation strategies towards implementing open innovations. However managing open innovation process in SMEs is more difficult and complex than it is the case with large enterprises. The reasons behind the low integration of the open innovations in SMEs generally can be found in their limited organizational, financial and human resources. By conducting a survey among 63 SMEs in Republic of Macedonia, current open innovation practices and barriers are searched. Findings revealed that the low capacity of the SMEs to deal with the open innovation process, low awareness of the benefits of the open innovation process, and lack of knowledge on protection of intellectual property rights are concluded as the main constraints in adapting open innovation practices.
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    Social transfer expenditures in Republic of Macedonia, South East European countries and EU countries
    (Economic Development, Journal of the Institute of Economics – Skopje, 2016-06)
    ;
    ;
    Petkovska Mirchevska, Tatjana
    Social transfers and expenditures as a form of social protection are essential for each economy and society to function properly. Social transfers as a form of social protection can vary in dependence of the economic system and development of the country, but initially their purpose is relatively the same. Tackling poverty and enabling efficient social redistribution of the income among the households are one of the main results of the existence of an efficient social protection system. The economies of today are confronted with a serious challenge of tackling the rising poverty and income inequality in the world and one of the means of achieving that is through the social transfer system. In this article a comparison analysis is made between the social transfer expenditures of Republic of Macedonia, South East European countries and EU countries in order to determine the trends and amount of social transfer expenditures in the countries. From the research in this paper it can be seen that Republic of Macedonia has considerably smaller social transfers per capita compared to other countries taken into consideration for the research. More so Republic of Macedonia is the only country form the countries that are part of the comparison analysis that accomplishes negative growth of the social transfer expenditures as a percentage of GDP in the period of year 2001 till year 2014. Knowing the fact that the more equal distribution of assets in a current country can lead to increased consumption, sustainable growth and increases social welfare, Republic of Macedonia can do better if the expenditures for social transfers as a percentage of the GDP are to increase, even on expense on some other public or budget expenditures.
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    Capital market and the determinants of development in the Republic of Macedonia
    (Economic Development, Journal of the Institute of Economics – Skopje, 2017-02)
    Djambaska, Elizabeta
    ;
    ;
    This paper considers the capital market in the Republic of Macedonia. The analysis identifies and explains whether capital market development is influenced by economic growth. The focus of the paper is to determine the effects of different factors on the capital market development in the Republic of Macedonia. For these purpose a multivariate linear regression is conducted using the data from 1997-2013. The analysis indicates that the capital market in the Republic of Macedonia is small and underdeveloped. Therefore the economic growth factors taken into consideration for the research have not shown considerable impact on the capital market due to its underdevelopment.