European Journal of Economic Studies

60-65

Authors: Nedim Čelebić, Ermin Cero, Amra Kuljančić

This research examines the possible positive relationship between the presence of women in top management teams and the profitability of SMEs in the IT sector in Bosnia and Herzegovina. Data is collected from the TRON Business Intelligent System for the SME’s Profitability data and top management structure, covering three years, 2014 to 2019. The total sample, which aims to shed a light on the composition of top management teams, and the potential positive impact of the women's presence on profitability indicators, consists of 635 companies from Bosnia and Herzegovina. The outcome of this research outlined that even in the male-dominated industry, as the IT is, companies led by a woman are profitable, without significant difference from those led by a man. This research also aims to display the current and real gender disbalance in this industry, with the intention to trigger further research and more interest into this issue. The results of this paper contribute to knowledge about workplace diversity and equality in an under-researched country. The results of this study could be used as a guideline for business practices, and in process of top management composition. The results of this research are neither undeniable nor conclusive. Further academic research on link between females and profitability should be taken in different sectors, and/or different business scales, as SMB or large business. The impact of Women's presence on other performance indicators should also be researched.

89-97

Authors: David Umoru

The study estimated conditional explosiveness or volatility of exchange rate for twelve SSA countries from January 1, 2006 to June 29, 2019 using Maximum Likelihood estimator (MLE). The study motivation is deeply rooted on the fact that volatility in exchange rate exposes importers and exporters to exchanges rate risk. Consequently, we became desirous to econometrically estimate degree of volatility persistence in exchange rate of selected SSA countries in relation to the United States of America and its implications for forex markets in SSA. Our empirics reveal that in South Africa, Burkina Faso and Equatorial Guinea, exchange rate volatility is covariance stationary indicating certainty of convergence after perturbation to exchange rate equilibrium. Also, shocks of volatility in exchange rate are explosive and highly persistent in Nigeria, Ghana, Botswana, Mali, Togo, Cote d’ Ivoire, Rwanda, Cape Verde, and Mauritius.We so remark the necessity for exercise of healthy control in managing and monitoring guiding principles of foreign exchange markets constantly in Nigeria, Ghana, Botswana, Mali, Togo, Cote d’ Ivoire, Rwanda, Cape Verde, and Mauritius in line with global code of forex market conduct to guarantee non-volatile behaviour of local currencies.

11-20

Authors: Yuriy Dreizis, Evgenia Vidishcheva, Andrey Kopyrin

Fostering the sustainable development of a tourism region involves planning and managing the development of areas within it, with a focus on protecting their natural and cultural environments, managing their resort-and-recreation resources, enhancing their environmental condition, improving the quality of life of their population, and ensuring world-class conditions for the comfortable stay of their visitors. The development of resort areas comes with a whole host of implications, both positive and negative. In today's volatile market environment, the need to develop and maintain a competitive tourism product suggests the importance of assessing on a regular basis an area’s current environmental condition and the condition of its natural resources. Environmental assessment is crucial to an area’s sustainable development. A serious damage to a region’s natural-recreational potential is capable of canceling out any of its economic and sectoral achievements, including those associated with the development of the tourism industry in the area. Research on the dynamics of pollution in Krasnodar Krai (Russia) indicates that its resort areas tend to differ in terms of both particular components of pollution and indicators of the current environmental condition. With that said, for particular resort areas in the region, and for the entire region as a whole, this condition is determined, above all, by the degree to which the following two resources, which are most significant to the successful development of tourism in an area, are polluted – water and air. An analysis indicates that at this point an exacerbation of certain environmental problems in resort areas in Krasnodar Krai appears to be inevitable. The findings from the research reported in this paper suggest that, while Krasnodar Krai’s resort areas are on course for environmental sustainability, there remain issues that need to be addressed. The most serious factors hindering the region from achieving sustainable environmental development include air and seawater pollution, growing volumes of solid and liquid waste, and increased recreational strain on its resort areas, especially in the summertime. Accordingly, there is a need to take an ecosystems approach to integrally assessing the environmental situation in the region’s resort areas.

27-35

Authors: Sanel Halilbegovic, Armina Hubana, Nedim Celebic, Adisa Arapovic, Tarik Atovic

This research is examining the effect of Consumer Price Index (CPI) to calculate the change in Annual Net Salary (ANS), across the three Balkan countries: Bosnia, Serbia and Croatia. The study will be using the data with the graphical representations and publications regarding CPI and ANS in the period from 2014 to 2018 from the „Agency of Statistics in BiH“, „Trading Econometrics“ and „CEIC Data“. In order to test the hypothesis regression approach will be used where we define the regression models, find statistical relationship and present calculations reached in Excel and SPSS. Authors confirm the main hypothesis for all three countries using statistical tools such as mean and the median of descriptive statistics, correlation analysis, model summary with R, R-Square(s) and standard error of the estimate, ANOVA significance and coefficients – confidence intervals. Authors show that the relationship of CPI and ANS is rather strong hence the hypothesis stands. Authors conclude that this research could be helpful for the analysis of similar indicators for other transition economies.