Schedule

Subscribe to RSS Feed

2019
Saturday, October 26th
8:30 AM

International Conference on Management, Business and Economics

PDF

University for Business and Technology - UBT

Lipjan, Kosovo

8:30 AM - 6:45 PM

11:00 AM

“Bitcoin” The Development of Virtual Money in Kosovo

Ardian Uka, University for Business and Technology - UBT
Misret Beqiri, KosProd

Pristina, Kosovo

11:00 AM - 12:30 PM

The economic development of a country is definitely taking care of the wellbeing of citizens, therefore the development of virtual money such as Bitcoin would speed up the transitions of the banking market in Kosovo to offer extreme cheaper fees, that is actually offers today. When we talk about virtual money, they may pose a danger to society but the benefits of its purpose to save money (lower fees) from the actual banking fees have the upper hand. This project intends to present the importance of virtual money and the activities of the Central Bank of Kosovo that should consider while developing the Bitcoin system in Kosovo market. Hence, as a prior goal of this project is the intertwining of different academic opinions regarding virtual money such as Bitcoin and offering proper recommendation to the Central Bank of Kosovo that should offer the support to the market with information in regards to virtual money. To be crystal clear about the role and importance of virtual money, we have also done primary research in the field. We have interviewed people in urban places with private and official positions, in total the data were collected from 66 surveyors, which have answered 12 semi structural questions after they had an informing conversation with the authors of the project. The research was done during the spring of 2019 and the results collected by the research and the analysis of their presentation are presented by the Excel program and the Statistical Package for the Social Sciences (SPSS). The results by the research show that virtual money “Bitcoin” has enough space to work in Kosovo’s market because the fees for national and international transfers are still high and virtual money could give a solution to that. Thus the immediate commitment of the Central Bank to inform the citizen is more than necessary for a stable development in the financial sector.

Corporate Governance in Insurance Companies – Need or Trend?

PDF

Vesna Paunkoska Dodevska, Triglav Insurance Company JSC
Bashkim Nuredini, University for Business and Technology

Pristina, Kosovo

11:00 AM - 12:30 PM

In recent decades corporate governance is very actual topic, especially in financial institutions, and more and more investors and regulators in the insurance industry have insisted on establishing an adequate corporate governance system. But what exactly is corporate governance? Is it just a trend or a real need for the insurance companies?

Good corporate governance is undoubtedly necessary to maintain a fair, safe and stable insurance sector that will protect the interests of insurers, which in return will contribute to the stability of the financial system as a whole. The insurance industry, like other parts of the financial system, is undergoing a number of changes and that is why insurance companies need to have a stable corporate system in order to face changes easily and respond adequately to rapid sociological, technological changes and economic development.

The benefits of good corporate governance are unquestionable - they provide for greater competitiveness of insurance companies, increased efficiency and corporate results, greater company asset value and higher company reputation, all of which are important factors in the modern business environment.

Finally, it should be noted that corporate governance is not a once-established system, but a continuous process that needs to be constantly upgraded and improved. The market is the one that will evaluate and value the commitment of the insurance companies in the process of building an adequate system of good corporate governance in the long run.

Internet of Things to Help SDGs Implementation: A case of Albania and Kosovo, Opportunities and Challenges

PDF

Aida Bitri, Aleksander Moisiu University of Durres
Galia Marinova, Technical University Sofia
Edmond Hajrizi, University of Business and Technology

Pristina, Kosovo

11:00 AM - 12:30 PM

Internet of Things (IoT) seems to be one of the strongest transforming technological trends. Developed countries are investing a lot of resources in re- search and infrastructure to provide all it is needed for a better future through IoT. The aim of the paper is to highlight the potential use of IoT in developing countries, such as Albania and Kosovo, as a means to achieve their sustainability goals based on Sustainable Development Goals (SDGs). Both countries are mak- ing considerable efforts toward these objectives. This paper analyzes opportuni- ties and challenges of IoT implementation in order to help Albania and Kosovo achieve a sustainable future.

Is Television Changing its Position on the Promotional Goals of Companies?

Nehat Ramadani, University for Business and Technology

Pristina, Kosovo

11:00 AM - 12:30 PM

Television has been one of the key media for many years, being used as an intermediate in the promotional goals of companies. This study deals with the recent television’s position, while the study is conducted in Kosova’s market. The paper deals with citizens' preferences regarding the position of national televisions in the country. The descriptive research approach is used, while comparative analysis takes a key role. Moreover, the study analyzes the behavior of potential consumers regarding the time they spend in front of the television, the specific viewership during the day, the most watched productions, the best television position etc. The study reveals more than half of respondents who are still using television, they use it for the news. This paper concludes that during recent years, the promotional role of television has faded significantly, being replaced mainly with the social media.

Money as a Human Invention: One More Look at Their Evolution

PDF

Vanya Tsonkova, University of VelikoTurnovo, Bulgaria
Valentina Stoyanova, University of VelikoTurnovo, Bulgaria

Pristina, Kosovo

11:00 AM - 12:30 PM

The article deals with the authors’ reading on the genesis of money from commodity money to digital money and crypto currencies. The authors try to define the nature of money despite the diversity and changes of their forms. The determinants imposing expansion of geographical scope in the use of certain currencies are analyzed. The authors think that there are two independent ways for the future (r)evolution of money. One is the development of the classic form of money – gold, but especially as a store of value. The other way is the development of digital forms of certain powerful national currencies. The future of crypto currencies as real currencies, fulfilling all the functions of money, is questionable.

Revisiting the Ties between Brand Personality and Brand Engagement

Jitender Kumar, Birla Institute of Management Technology

Pristina, Kosovo

11:00 AM - 12:30 PM

The authors objectively explore that how brand personality, brand personality appeal, and customer brand identification stimulate brand engagement by employing personality theory, congruity theory, and identity theory. The model was tested through Structural equation modeling with the data collected from 413 brand community members in India. Empirical analysis reveals that brand personality and brand personality appeal, together, creates a stronger brand engagement model. Customer brand identification partially mediates the relationship between brand personality and brand engagement as well as between brand personality appeal and brand engagement. Brand personality is necessary but not sufficient in generating higher levels of brand engagement and brand personality appeal is equally important for generating customer brand engagement. The study adds a new driver of customer brand engagement in the form of brand personality appeal. The mediation analysis highlights the role of customer brand identification to the existing relationship between brand personality and brand engagement. Apart from the focus of brand personalities, brand personality appeal should also be carefully moderated to have engaged customers. A sense of brand identification also needs to be maintained along with the brand personality and brand personality appeal. The study uniquely introduces the role of brand personality appeal in engagement domain. The enhanced predictive power displayed by the combination of brand personality and brand personality appeal remained underexplored to date.

Social media marketing and Business Enterprises in European Union

Gonxhe Beqiri, University for Business and Technology
Rajan Arapi, University for Business and Technology

Pristina, Kosovo

11:00 AM - 12:30 PM

Nowadays various businesses are achieving amazing results being advertised via social media marketing. Social media marketing is fast, simple and represents a different way to socialize the business with it’s stakeholders. Because social media is driven by consumers and in this area is currently experiencing growth, enterprises are more exposed to the market and have their advantages to promote their products. Moreover, enterprises are considered as the main driver for innovation, employment and social and local integration so it is necessary for them to create the best environment possible for their consumers and to have a strategic online presence.

This paper aims to analyse the relation between social media marketing and bussines enteprises in European Union. Hence, it presents the association between conceptual framework and statistical analysis regarding the EU enterprises in relation to social media marketing field and its channels (e-mail, social networks, blogs, etc.). How this type of marketing has affected and improved their business and in what form it is expected to affect in the future.

The methodology used in this paper is based on secondary data analysis and comparative analysis. Although the data available in relation to the subject matter are limited the research of this paper will analyze the use of social media marketing from various enterprises in the European Union between 2013 and 2017, based on EUROSTAT reports.

The results idicate that Business Enterprises in European Union countries (EU-28) between year 2013 and 2017 have increased the use of social media for their marketing activities from 22% to 40%. Compared to other media categories social media such as: social networks, multimedia websites; Blogs or microblogs; dominate the most. In order to connect with their consumers, social networks were used by nearly 50% bussines enterprises of total 28 European Union countries.

The Effect of Accepting External Influence on Emotional Labor: A Study on White-Collar Workers in Turkey

PDF

Buket Akdol, Istanbul University
Gamze Guzin Kazakoglu, Robert College of Istanbul

Pristina, Kosovo

11:00 AM - 12:30 PM

It was many years after Industrial Revolution that the threat child labor and working under inhumanitarian conditions poses as physical burden to laborers and the severity of the fact that they had to work for many hours under such ardous conditions were realized. However, as industry developed and the concept of being a laborer evolved into a task that requires emotional assets of laborers other than physical burden as well, the “emotional labor” of workers was started to be investigated as a concept. First brought up by American sociologist Arlie Hochschild in 1979 in her book “The Managed Heart” that discusses commercialization of human feelings, emotional labor was investigated on many concepts like gender, age, education status, and work sectors as the years passed. Emotional labor was defined as “white collar workers’ control of their emotions and them exhibiting the emotions their business owners demand for consumer satisfaction and positive relationships” between white collar workers and shareholders.

This study empirically investigated the role of accepting external influence, a factor of authenticity, on emotional labor among the white collar workers in Turkey. As service-oriented total quality management applications requires constant communication with colleagues, customers, suppliers, competitors, stakeholders, white collar workers are the ones that are being required to perform emotional labor and being exposed to face their authentic selves via accepting external influence or not. The purpose of this study is to determine the effect of accepting external influence on emotional labor. Data was collected via Hospitality Emotional Labor Scale (HELS) developed by Chu and Murmann (2006), and The Authenticity Scale developed by Wood et. al. (2008). There are 201 participants, 126 were female and 75 were male who work in a variety of industries in Turkey. Analysis was conducted by the SPSS program.

The Impact of Human Capital on Technology-Intensive Exports, with Special Reference to Transition Economies of Central and Eastern Europe

Arta Mulliqi, University for Business and Technology - UBT

Pristina, Kosovo

11:00 AM - 12:30 PM

This paper examines the impact of human capital on technology-intensive exports from 27 European countries, with special reference to transition economies of Central and Eastern Europe. The empirical investigation makes use of various human capital and technology-intensive export measures which allows the drawing of more comprehensive inference. To assess the robustness of the results, a diversified modelling strategy is employed. The empirical assessment provides sufficient evidence to support the hypothesized positive link between the share of population who have attained tertiary education and the share of medium and high-technology exports for the full sample of countries, the effect being relatively stronger for the high-technology category. When transition and non-transition economies are assessed separately, the empirical evidence is mixed. The findings from the export sophistication analysis appear to support the importance of the share of population with tertiary education for the export sophistication of non-transition economies only. Some supporting evidence is also found for the positive role of the quality of education.

What Affects the Market Share in Banking: Evidence from the Old and New EU Members and Candidate Countries?

Bashkim Nurboja, University for Business and Technology - UBT
Marko Kosak, University of Ljubljana

Pristina, Kosovo

11:00 AM - 12:30 PM

In this study we investigate how cost efficiency and risk affects market share in European banking industry. In contrast to other studies, we have included risk as determinant of market share. The results revealed that risk and efficiency are positively correlated with market share of assets, loans and deposits. Moreover, we found that banks in transition countries gains less market share as a result of being more efficient than banks in European developed countries. The model was estimated by using the system GMM model in order to account for dynamics and to avoid the endogeneity problem. We have used annual data for 36 European countries’ banks for the years 2007–2015.

1:30 PM

Clustering - Good or Bad idea!?

PDF

Ermira Shehu, University for Business and Technology - UBT
Osman Sejfijaj, University for Business and Technology - UBT
Fatmir Memaj, University of Tirana

Pristina, Kosovo

1:30 PM - 3:00 PM

Clusters tend to be a key factor for a successful macroeconomic development and microeconomics business environment. Execution of cluster projects is one of the strategic objectives of many counties, as it contributes to the economic development of regions and increases the level of innovative development of enterprises which form a cluster. Cluster mapping efforts create a set of data and insights on economic activity across industries and locations. With this paper we will try to present the advantages and disadvantages of being in cluster. All huge projects have obstacles and benefits, but in this paper we will try to summaries the facts of clusters, analyzing data from states in Balkan region and presenting some useful information for enterprises which are thinking for sector development opportunities.

Cost Driver Based Internal IT Cost Allocation: A Case of a Medium-Sized Austrian Financial Service Provider

PDF

Andrea Schnabl, TU Wien, Institute of Information Systems Engineering,Vienna, Austria

Pristina, Kosovo

1:30 PM - 3:00 PM

IT has a high share of the total costs at information processing companies. Though not only minimal IT costs are relevant, but also effective use of IT from the long term business perspective. Decisions on IT investments are made based on information about costs and benefits commonly provided by controlling in-struments. To identify direct and indirect costs of IT services, an internal IT cost allocation (IT activity allocation or IT chargeback) is being used by the vast ma-jority of companies, especially in IT-related industries. The allocation of shared IT infrastructures and overhead costs to IT services, as well as of IT services to service recipients, is based on simplified allocation keys. Allocation keys are commonly built use-based, per revenue share or per employee. For example allo-cation per CPU or RAM for servers and per Gigabyte of disk space for central storage systems is commonly being used. Nowadays those rarely are relevant cost drivers, except for extreme increases in usage intensity, which raise jump-fixed costs to a higher level. As a consequence service recipients lack the possi-bility and incentive to control the real costs and to optimize the cost/benefit ratio. Furthermore allocated costs, especially for shared services, do not represent cor-rectly the real cost situation and product pricing and business cases based on those costs are not accurate. As a constraint information cost to gain data to build allocation keys have be reasonable. The question is, how to build allocation keys as accurate as possible to apportion ‘real’ IT costs with reasonable effort. The pa-per at hand describes the internal IT cost allocation and its allocation keys based on main actual cost drivers by means of a case study at a typical medium-sized Austrian financial service provider. This approach yields a more accurate alloca-tion of actual IT costs.

Digitalization in Control

Plamen Iliev, New Bulgarian University

Pristina, Kosovo

1:30 PM - 3:00 PM

The development of the economy, business and market globally requires an increasing investment in digitalization, the business of complex processes. Despite the emergence of Eastern European countries, in the future, they need to innovate in digitalization in order to increase the efficiency of business operations, profits, increase productivity and open up new markets. All of this has to do with controlling and auditing the business. The relentless transformational impact of IT redefines the very figure of IT auditing, forcing auditors to rethink established practices, process and calibrate their functions in the digital age. Technological advances are inherent in digitalisation and will undoubtedly change the internal audit, audit of the Court of Auditors, tax control and etc.

E-Recruitment Strategies: A Review

Blerim Dragusha, University of Prishtina
Saso Josimovski, University “Ss.Cyril and Methodius
Dimitar Jovevski, University “Ss.Cyril and Methodius

Pristina, Kosovo

1:30 PM - 3:00 PM

Electronic recruitment as a relatively new phenomenon of the modern recruitment process changed the nature of the recruitment strategies. The digital world has brought a new dimension to recruitment strategies. Internet innovation of Web 2.0 technologies has changed the overall recruitment process. E-Recruitment significantly enhances the recruitment process also known as online recruitment or internet recruiting. Electronic Recruitment has significantly improved the efficiency and effectiveness of recruitment, but the limitation is that it does not allow face-to-face communication. It is good technique for effective use of the internet, improves recruitment skills by enabling postings and job applications. Compare to e-Recruitment, Traditional Recruitment methods focuses on a small group of potential applicants and does not give the organization access to the many passive candidates (talent) required. Electronic Recruitment increase potential for qualitative selection, competitive advantages and other benefits. Electronic Recruitment saves time by quickly processing the redundancy of applicants, easier recruitment of qualified candidates, improves the image of the prospect, provides organizational information between the prospect and the applicant for vacancies, updates job data and there is an expansion of the geographical scope for applicants. The purpose of this literature review is to analyze the issues of defining e-Recruitment strategies. The literature review comprises peer-reviewed journal articles, conference proceedings, white papers and the topic of e-Recruitment strategies.

Entrepreneurial Marketing Paradigm-Why it is Important for Kosovar Entrepreneurs?

PDF

Nora Sadiku Dushi, University for Business and Technology - UBT

Pristina, Kosovo

1:30 PM - 3:00 PM

Entrepreneurial marketing is a relatively new concept that has emerged at the intersection of the two very extensively researched fields such as marketing and entrepreneurship. It is considered as a new marketing paradigm that is suitable especially for small and medium-sized enterprises who due to their limited financial and human resources are unable to perform the traditional marketing principles. Having in mind that this research field has not yet sufficiently penetrated the Balkans, this paper will provide some insight into this relatively new concept that has gained the attention of many researchers from all over the world. This paper will explain what is entrepreneurial marketing as well as when, how and why this research field has emerged? Further, the paper will stress the need for entrepreneurial marketing, its characteristics as well as the main differences between entrepreneurial and traditional marketing. This study will also underline the importance of this new marketing paradigm for the success of small and medium-sized enterprises. At the end of the paper, the recommendations for the use of entrepreneurial marketing by SMEs as well as the proposal for future research directions in this field will be presented.

Factors Affecting Knowledge Management in Organizations

PDF

Dugagjin Sokoli, University for Business and Technology - UBT
Andrej Koren, ISSBS International School for Social and Business Studies, Slovenia
Edmond Hajrizi, University of Business and Technology

Pristina, Kosovo

1:30 PM - 3:00 PM

It is a strategic process that organizations use to boost learning and performance. Mainly, companies use it to attain short and long-term ways to use knowledge to the entity. In this field, knowledge can either be explicit, implicit, or tacit. The framework asserts that knowledge management strategies are affected by whether a company tries to measure its information resources and the

Performance of its knowledge activities. The four dimensions of knowledge management, namely, knowledge acquisition, conversion, application, and protection have a definite link with the two aspects of organizational performance. It is important to use appropriate support systems to generate, code, and transfer the knowledge within the organization’s participants to ensure that it is put to its rightful use.

How Printing Industry Meets Technological and Financial Challenges

PDF

Liudmila Guzikova, Peter the Great Saint-Petersburg Polytechnic University

Pristina, Kosovo

1:30 PM - 3:00 PM

Printing and publishing industry is currently undergoing a period of transformation caused by powerful technological shifts, leading to a change in the business model of the industry. Instead of being a producing industry, printing is becoming a part of the service industry. The economic situation in the printing industry is difficult. The consequences of competition from digital technologies are a decrease in investment, profit and sales and an increase in operating costs. The changes could not but affect the structure of the industry, its financial performance, the activities of individual companies and their financial situation. Sustainability of the industry was in jeopardy, which requires analysis and development of measures to ensure the successful adaptation of printing companies to changing business conditions. The purpose of this research is to identify opportunities and threats for printing and publishing companies based on investigation organizational and technological trends in the industry and the financial performance of companies. Object of study is constituted by the printing and publishing companies of St. Petersburg. Methods of financial and economic analysis and statistical techniques are used. The conclusions and recommendations made as the result of study may be useful for the heads of particular companies and for the governmental bodies responsible for industrial policy.

International Risk Analysis Based on The Portfolio Diversification: The Case of Prague Stock Exchange

PDF

Florin Aliu, University for Business and Technology - UBT
Besnik Krasniqi, University of Prishtina
Emad Attia Mohamed Omran, Tomas Bata University in Zlin
Amir Zylfiu, University of Prishtina

Pristina, Kosovo

1:30 PM - 3:00 PM

Stock exchanges are constantly prone to instability caused by asset bubbles. Risk level within the stock exchanges stands as the main concern for the financial in-vestors. Stock prices are influenced by the choices completed on the domestic and international environment. The study intends to measure the risk level of the Pra-gue Stock Exchange (PSE) from the internal risk perspectives. Portfolio diversi-fication formula has been implemented to obtain the risk level of the PSE from 2000 till 2017. Stock prices and the trade volume of the listed companies in the PSE were collected from the Thomson Reuters Eikon database. PSE has been considered as a portfolio based on the number of listed companies on the respec-tive years. The results confirm that financial investors in the PSE would be com-pensated for the risk exposure. Diversification risk and weighted average returns from 2000 till 2017 were almost moving identically. The results indicate that PSE was influenced from the last financial crises of 2008, confirmed from a decline in the weighted average returns and an increase in the diversification risk. The re-sults of the study stand in line with the theoretical paradigms that increase in the number of stocks that reduces the `diversification.

Organizational Loyalty and Employee Commitment: Case of Kosovo Telecom

Nazmi Zeqiri, University for Business and Technology - UBT

Pristina, Kosovo

1:30 PM - 3:00 PM

Every change is difficult for every organizational type of company. Globally, the telecom industry and Kosovo Telecom is subject to a tremendous change such as deregulation, technological advancement, new legislative requirements as well as organizational structuring. As the industry has witnessed unprecedented changes during the past years, the changing process was even more difficult in Kosovo Telecom, as Publicly Owned Company (POE). These changes often damaged employees’ commitment and loyalty created within the company for many years, hence making the employees not to share the common understanding of changing processes and orientation of internal structures.

This paper analyses the employee’s loyalty and commitment in Kosovo Telecom and seeks to understand the importance of employee’s loyalty and commitment in process of current and future organizational changes. In order to understand the changes of loyalty and commitment of Kosovo Telecom employees, over the years, this paper employs the similar demography, methodology and approach that is used by author in 2013 survey in main telecommunication companies in Kosovo. Derived results might allow Kosovo Telecom to understand whether recent organizational changes were in line with employee sentiment towards the organization, market, privatization and its activities on market and customer orientation. Moreover, conclusions and recommendations might be worthy for Kosovo Telecom in future moves. However, as the paper is seen only from employee’s perspective, further research is suggested from management and/or shareholder perspective too.

Promotion Mix and Beverage Manufacturing Enterprises: Consumer and Buyer Perspective

Rajan Arapi, University for Business and Technology
Gonxhe Beqiri, University for Business and Technology

Pristina, Kosovo

1:30 PM - 3:00 PM

Many manufacturing enterprises often use promotion mix and its components to advance their product-related strategy and objectives. Promotion mix represents one of the most direct and media related marketing component that connects enterprises with its consumers and buyers.

The enterprise – consumer connection from promotion mix is achieved through six main elements: advertising, direct marketing, interactive marketing, public relations and publicity, personal sales, and sales promotion.

The aim of this research paper is to analyse the impact that promotion mix has in consumers decision making of beverage manufacturing enterprises in Kosovo, based on each of its component individually or in combination. The research is based in primary data collection and analysis. The data were collected through questionnaires conducted with 380 consumers and buyers of various beverage manufacturing enterprises in Kosovo.

In order to achieve the purpose of this research, the data were analysed using T-test model and were interpreted with empirical methods applying specific statistical data analysis software.

The main results of this research show a hypothetical link between consumption and promotion. They indicate the importance of each element of promotion mix from consumer and buyer perspective of beverage manufacturing enterprises in Kosovo that were used in the sample. Buyers evaluated 71.9% as satisfactory the promotion mix that enterprises elect for their beverage products.

Remittances Support the Growth of Developing Countries

PDF

Shpresim Vranovci, University for Business and Technology - UBT

Pristina, Kosovo

1:30 PM - 3:00 PM

Emigration plays a fundamental role in shaping the economic, social, and political developments in the Kosovo. In fact, in the last decades, no other phenomenon has influenced the country more than emigration. Even in the case of best social-economic scenarios for the near future, it is reasonable to assume that emigration will persist, as shown in examples of other European countries, where emigration, once started, lasted for decades or even centuries. A new strategic vision for the country's development must be defined, which must imply the shifting from the consumption growth model financed by remittances and building a model based on investments, exports, and innovations. This strategy must maximize the positive impact of remittances, on development, and limit their negative impact.

Social Aspects of Logistics - Social Logistics and Socially Oriented Business Logistics

PDF

Vanya Banabakova, Vasil Levski National Military University
Canko Stefanov, Veliko Tarnovo University

Pristina, Kosovo

1:30 PM - 3:00 PM

Logistics continuously expands its application areas. In modern conditions, there is a need to apply logistics in areas not related to its traditional applications such as military and business spheres, resulting in the identification of a third area with the name social logistics. For the purposes of this paper, a number of scientific approaches and methods have been applied, such as system approach, comparative analysis, critical analysis, synthesis and others. Social logistics aims to introduce a social (human) factor into the systems and to apply logistic principles and methods in solving the problems of society. Social logistics can be defined as a set of actions that ensure the effective functioning of social systems (such as a set of social phenomena, processes and subjects), applying the principles of logistics. Also important for social aspects of logistics is the development of socially oriented business logistics, which is based on the application of corporate social responsibility.

The purpose of this paper is to explore the characteristics and importance of social logistics and socially oriented logistics, to define the concept of social logistics, and to outline its areas of application in the public sphere.

Social Security - Public Expectations and Reality

Venelin Terziev, National Military University

Pristina, Kosovo

1:30 PM - 3:00 PM

Contemporary problems and relations between economic and social sphere have different expressions in community life influenced by national peculiarities and global trends. The specific issue of labor market development is put in the focus of a number of strategic documents because through employment and unemployment it is directly connected to human well-being which in turn is the main target of social policies. Current study analyzes the problems of employment and unemployment, and vulnerable groups on the labor market in particular, considering the development of labor market in Bulgaria and corresponding policies rendering impact on it. Recommendations are provided regarding the instruments of social policies, their economic and social effectiveness, flexibility and security, paying special attention to the project approach application through social programming for sustainable employment.

The Effectiveness of Nudging Techniques to Customers in Kosovo: An Experimental Study

Nehat Dobratiqi, University for Business and Technology

Pristina, Kosovo

1:30 PM - 3:00 PM

Research has shown that customers, and people in general can be nudged, using different techniques. In this research work we are interested in looking at several nudging strategies in Kosovo on both food and non-food products. In this work, I present a framework of designing experiments, implementing and generating the expected results. The results from the field of Behavior Economics in general and nudge theory in particular, have been used in many scientific fields that use consumer theory teachings in their work, and the outcomes of this research should have large benefits to all those areas. Researchers have also pointed out that the results may depend on the diversity of population that is part of the experiment. To my knowledge, this is the first study to be conducted in Kosovo not only for food/non-food products, but in the field of Behavior Economics in general. Hence, the results are of great interest for many parties: the academic community, and private and public sector. I expect to show through experiment that the nudging techniques work in Kosovo, in accordance with the research done so far in this field.

The Fourth Industrial Revolution and International Economics

Iliyan Mateev, St. Cyril and St. Methodius University

Pristina, Kosovo

1:30 PM - 3:00 PM

At the beginning of the second decade of the XXI century, the German government developed a concept called Industrie 4.0 (Industry 4.0), which was first introduced in 2011 at the Hannover Messe. This same fair set up a working group of academic and university officials, managers and practitioners from the practice, headed by Siegfried Dais from "Robert Bosch GmbH " and Henning Kabermann from the German Academy of Science and Engineering - a former senior executive leader in Europe's largest software provider - "SAP AG ". After Germany similar concepts developed and a number of countries from East and Southeast Asia: Japan came up with the Model "Society 5.0", Singapore with the concept "Smart Society", and Thailand with the idea "Thailand 4.0". What is emphasized by many describing the new technological way of manufacturing is that it needs a new type of human factor. A human factor, in which creative and innovative potential, self-management is essential. On 48th annual World Economic Forum in Davos, Switzerland, held in January 2018, the aforementioned post-industrial paradigm officially was named "The Fourth Industrial Revolution". As stated at the Forum in Davos, it will change everything around us and even us. It is clear that this revolution is not only unalterable, but it will undoubtedly change the future prospects of countries and peoples, the balance of power globally and the world map. "The Fourth Industrial Revolution" is distinguished by a fusion of technology, which "clouds the lines between the physical, digital and biological spheres".

The Impact of Effective Management on Economic Growth

PDF

Ylber Limani, University for Business and Technology
Florentina Musliu, University for Business and Technology - UBT
Blerina Hoxha, University for Business and Technology - UBT

Pristina, Kosovo

1:30 PM - 3:00 PM

Effective management implies truthful and satisfactory performance of management activities. A high performing productive management typically perform activities effectively and efficiently. Accordingly, companies and countries can be economically viable when the available human, physical, and financial resources are effectively and efficiently managed to ensure the economic growth and well-being. Growth is most powerful organisational device to compete and to sustain by creating profits and by providing prosperity. Nevertheless, the essential management principles alone, could not provide sufficient support to achieve and sustain the ultimate goal of growth and affluence. Therefore, deep focusing on management effectiveness is needed to achieve higher organisational performance, and thereby better economic growth. Accordingly, this paper analyses the factors triggering the management effectiveness within organisational structure, and outlines the role of effective management on economic growth. The study is focused on several important factors that contribute to building an effective management climate, such as: leadership, motivation, knowledge, and skills.

The impact of globalization on vocational education and its challenge to schools

Ivica Opacak, High School Matija Antun Reljković
Agon Halabaku, University for Business and Technology
Sinisa Bilic, International University of Brcko district

Pristina, Kosovo

1:30 PM - 3:00 PM

The paper presents an analysis of the situation in the field of vocational education, considering the factors that influence its development, with special attention to the necessary adaptation of schools to new changes, especially demographic, but also in the economy, the labor market, public policies, financing and legal regulation. The case study analyzes the challenges of school development opportunities, management's response to change, the use of all available resources, networking schools vertically and horizontally, that is, school collaboration with the labor market, local community, ministry, entrepreneurs and other educational institutions to prepare students for the world work, lifelong education, lifelong learning and retraining. The school's responsive response to opening up the market and adapting the transition economy to the new situation, especially the opening up of the European labor market, is a real opportunity for development opportunities to introduce new projects in response to the needs of the regional labor market, changes in vocational education, active involvement of all employees in the learning process, connecting the necessary fields of education, procurement of equipment and pedagogicalmaterial, introduction of new technologies, adaptation of existing and construction of new premises and other.

The Impact of Organizational Changes on Human Capital Performance and Motivation

PDF

Kaltrina Bunjaku Pasuli, University for Business and Technology
Leonita Braha Vokshi, University for Business and Technology

Pristina, Kosovo

1:30 PM - 3:00 PM

In the recent years telecommunication industry in Kosovo has experienced a great development. To be more competitive organization must have a competitive advantage to be able to serve customers more effectively and efficiently than other competitors. Change is very important in any organization because it helps them compete with other organizations and leads them to realize their goals.The main aim of this paper is to assess the impact of organizational change on employee’s motivation and performance. The research is executed with description research based on quantitative and qualitative methods based on statistical analysis, correlation and OLS regression. The results of this paper shows that numerous organizational changes have a significant impact on motivation and performance of employees, more precisely organizational change has negative impact in employees motivation and frequency of organizational change has negative impact on employees performance.

Types of Organization of Business Organizations and Their Impact on Business Success

Mentor Shaqiri, University for Business and Technology - UBT
Orhan Ceku, Pjeter Budi College

Pristina, Kosovo

1:30 PM - 3:00 PM

Businesses need to register with the Kosovo Business Registration Agency to start their economic activity. This registration must be made in accordance with the legal provisions in the Republic of Kosovo, but also in accordance with the economic requirements and interests of that economic entity. In this paper we will analyze the forms of organization of business organizations according to the applicable law and the impact of the form of organization on business success. Knowing that each form of organization has its own advantages and disadvantages, through the data obtained from the questionnaire, it will be seen which of these reasons have most influenced the chosen form of business registration. In the end, the owners' knowledge about the forms of business organization and the impact of this selection on business decision making and business success will also be analyzed.

Use of the Function Derivative to Minimize the Cost

Faton Kabashi, University for Business and Technology
Azir Jusufi, University for Business and Technology
Hizer Leka, University for Business and Technology - UBT

Pristina, Kosovo

1:30 PM - 3:00 PM

A common problem in mathematics – as well as in many real world context is that as optimization problem (maximization or minimization) some quantity that can be expressed as a function. The aim of this paper is to attempt to determine the mathematical function for the lowest possible cost of a company, which makes the distribution of a cable network for a particular route. The assignment of such mathematical functions will be done by applying the function derivative and interpreted with the assistance of figures.

3:15 PM

Cost analysis on Cost of Consumers in Terms of Small markets. (Case study, Vlora)

PDF

Elmira Kushta, University Ismail Qemali Vlora
Fatmir Memaj, University of Tirana

Pristina, Kosovo

3:15 PM - 3:30 PM

This article deals with the observed changes in consumer spending in a region of Albania following the fall in market sales prices. The paper focuses on the statistical study of a local consumer system. In the meantime, we are striving for greater recognition. Respectively in a more generalized and mathematical perspective, the generalized customer or consumer is the user and consumer as the behavioral agent. The purpose of the paper is to identify the best or most appropriate model for the behavioral profile according to the profile determined by the inductive analysis of the variables themselves. For this reason, part of the purpose of the paper is to construct the behavioral profile ie what are the most characteristic variables and the factor group profile. In the region where the study was conducted, it has been found that the price reductions drive costs, which in turn shows that the consumer behaves as a minimalist buyer, in response to high prices rather than budgetary constraints.

This supports the view that consumers in this region are primarily rational consumersç It was then found that the most pronounced effect relates to average consumer spending suggesting marketing activity referring to this category of consumers.

Optimization of Economic Functions with two Variables

Azir Jusufi, University for Business and Technology
Bukurie Imeri Jusufi, University for Business and Technology
Flamure Sadiku, University for Business and Technology - UBT
Faton Kabashi, University for Business and Technology

Pristina, Kosovo

3:15 PM - 3:30 PM

In addition to the mathematical notions for assigning stationary points with the help of the first partial derivatives of the two-variable function, we will classify these stationary points with the help of the second partial derivatives of the two-variable function, when the function f (x , y) reaches the maximum and when it reaches the minimum. The above notions will be applied to the profit optimization of any enterprise that produces two goods. We will also optimize an enterprise that sells some kind of product in different markets with price discrimination.

Statistical Analysis with Latent Variables. Case Study (University Libraries)

Miftar Ramosaco, University Ismail Qemali
Astrit Denaj, University Ismail Qemali

Pristina, Kosovo

3:15 PM - 3:30 PM

This paper aims to provide a satisfactory basis, both theoretically and methodologically, for a more accurate understanding and measurement of the phenomenon.This basis could serve as the beginning of a more organized and advanced research work of scholars of different disciplines.The study is based on the application of some of the most appropriate statistical methods for cross-sectional data, collected through some questionnaires, to students at Ismail Qemali University of VloraThe results of the study showed that the student community under study had a heterogeneous structure Considering the heterogeneous structure of the students helped to better understand the nature and epidemiology of the phenomenon The inclusion of some variables at the individual level contributed to the improvement and clarification of this heterogeneous latent structure, which did not occur with the inclusion of a variable at the contextual level (community). This study was attended by approximately 200 students including all study cycles. The study was conducted in the period March 2019 at the Ismail Qemali University of Vlora.

3:30 PM

Benefits from Imlementation of ABC Methods in Microbusinesses in Republic of North Macedonia

Bukurie Imeri Jusufi, University for Business and Technology

Pristina, Kosovo

3:30 PM - 5:00 PM

The paper deals with exploring the possibilities of applying ABC method as the most applied method of managerial and cost accounting in contemporary economies, which enables planning of financial inputs, control of expenses and profit for management at all levels. ABC activity-based costing also applies to the financial and service sectors, and is focused on individual activities such as product design, machinery configuration, material allocation, distribution and customer care client, as the basic cost objects.

In this paper through the method of analysis, induction and deduction we will try to explain the benefits that micro businesses will have from applying the ABC method in enhancing their performance. The reasons why such research should be done are the following: managerial and cost accounting is a relatively new learning discipline, strategic management accounting techniques are also not well researched and the implementation of strategic managerial accounting techniques is not relevant to business entities in the Republic of North Macedonia.

Control Activity and Monitoring as COSO Framework Elements And Their Impact on the Performance of Entity: Case Study Republic of Kosovo

PDF

Gresa Mjaku, University for Business and Technology - UBT

Pristina, Kosovo

3:30 PM - 5:00 PM

This paper aims to investigate the impact of two elements of the COSO framework such as Control activity and Monitoring on the performance of Institutions of the Republic of Kosovo. Therefore, public institutions and audit agencies in our country need to work more than ever before to promote law enforcement, fight against corruption, honesty, the efficient use of public funds and the increase of government competencies and responsibilities in order to increase the performance of the entity. We employ primary data due to lack of data by secondary data from other relevant institutions. The data set includes a sample of 400 internal auditors, covering the entire auditory region in the Republic of Kosovo. An IV-GMM model is implemented to measure the impact of two determinants in the public sector together with their metering instruments. Since the reliability of the data is proven, we think that this research has presented the current state of the institutions of the Republic of Kosovo and determining the main factors of the progress of this system. The results show that the control activity, including Comprehensive control activity, Equality in control activities and Duration of control have 56% impact on entity performance. Moreover, the results show that Monitoring as a 5th element of the COSO framework, including the selfassessment questionnaire and verification in the field as measurement instruments of monitoring, in the case of the Republic of Kosovo has an impact 41 % in performance enhancement in public entities.

Economic Effects in Romania within Integration in European Union

Amir Imeri, University for Business and Technology - UBT
Xhevat Bejta, University for Business and Technology - UBT

Pristina, Kosovo

3:30 PM - 5:00 PM

The study is going to analyze the economic development of Romania before and after membership in European Union. We will discuss whether economic cooperation between Romania and European Union members increased or decreased after European Union membership. This article provides a comprehensive and contemporary comparative analysis of the economic performance, the economic structure and the trade relations between Romania and European Union countries, allowing us to detect basic trends and developments. We will compare the economic performance of Romania and other European Union members, looking at aggregate figures from integration in European Union such as foreign trade, Foreign Direct Investment, Gross Domestic Product and its structure, level of structural unemployment and employment, inflation and level of income.

Economy and Diseconomy of Scale in Microeconomy Case study: Procredit Bank

Mirjeta Domniku, University for Business and Technology
Blert Podvorica, University for Business and Technology

Pristina, Kosovo

3:30 PM - 5:00 PM

The purpose of the research is to present the challenges and benefits of alternatives in the banking system in Kosovo. The research aims to show how vital investment selection is for developing a business where this development should address the business in economies of scale rather than increasing costs. The research methods used to conduct the research are secondary methods with quantitative data, because we have considered the high reliability of the data from the banking sector. A total of 574 data were collected from 24 different variables over 24 time periods, descriptive statistical methods, correlation and regression were used to present the results. The research explains the types and sources of economics of scale, then reviews literature from 66 different publications on the topic. The research results are the verification of 7 scientific hypotheses, they are H1- Financial institutions focus on profit regardless of deposit sensitivity. H2- Procredit Bank as a German bank is characterized by the diseconomy of scale. H3- Commercial banks have no positive relationship between credit growth and return on equity. H4- Commercial banks increase the amount of risk-free investments by increasing deposits. H5- Increased equity by commercial banks increases the amount of risk-free investments. H6- Economies of scale are not the only way to reduce the share of fixed costs in profit margins. H7- With increasing time deposits from customers, net income increases, despite the fact that the bank pays more interest to customers.

Effect of Leadership Evaluation by Employees in an Enterprise

PDF

Bardha Mulhaxha

Pristina, Kosovo

3:30 PM - 5:00 PM

CEOs are those who have the task of leading the company, building good relationships with others and achieving the objectives. All of this is achieved through human resources, the most basic resource of the company, which by working in their fields, make it able to meet the company's objectives and why not maximize profit. To date, in various companies, we have often encountered CEOs or managers who evaluate employees' performance from time to time, but rarely or at least we did not encounter employees who in their view evaluated the performance of their chiefs. This is because employees did not have the courage and support to raise any issues for their bosses or even less to evaluate their performance. By this research we did a partial evaluation of the CEOs by employees in an enterprise. It is therefore envisaged to interview about 20 employees of different levels and of different companies regarding the performance of their bosses. The extracted data were analyzed through the software application for statistical analysis SPSS (IBM Analytics).

Through the results, we have understood more about employees' perceptions about the performance of their CEOs and how informed CEOs are about what's happening in the company.

External Audit

Blerina Jashari, University for Business and Technology
Bukurie Imeri Jusufi, University for Business and Technology

Pristina, Kosovo

3:30 PM - 5:00 PM

Principal and agent problems resulting from asymmetric information, the needs of creditors, investors, trusted regulators, managers, financial scandals, frauds, and others have made the demand for audits and auditors with high integrity to increase we keep going over the last few decades. There are many frequently asked questions about why auditing is needed, the simple answer would be because it is required by law. External audit make it possible and reasonable to first understand and clarify the general notion of auditing and the general auditing standards to be adhered to, while not neglecting the concepts and stages through which the audit goes through, where all chapters are interconnected in order to fully understand the role of external audit in the economy. In Kosovo, given that it is a developing country, the importance of external auditing also plays an impoertant role in economic development. The purpose of this paper is to investigate the relevance of audit companies, to show evidence that the audit process is key factor in ensuring clarity and reliability in company financial statements where the first thing needed is that the market should recognize the importance of the value of the audit. The following chapters will provide a clear overview of the level of importance of external audit. There will also be a literature review of the methodology that is planned to be used so that the results in the following chapters are clear and understandable.

Hadamard's Coding Matrix and Some Decoding Methods

PDF

Hizer Leka, University for Business and Technology - UBT
Azir Jusufi, University for Business and Technology
Faton Kabashi, University for Business and Technology

Pristina, Kosovo

3:30 PM - 5:00 PM

In this paper, we will show a way to form Hadamard's code order n=2^p (where p is a positive integer) with the help of Rademacher functions, through which matrix elements are generated whose binary numbers {0,1} , while its columns are Hadamard's encodings and are called Hadamard's coding matrix. Two illustrative examples will be taken to illustrate this way of forming the coding matrix. Then, in a graphical manner and by means of Hadamard's form codes, the message sequence encoding as the order coding matrix will be shown. It will also give Hadamard two methods of decoding messages, which are based on the so-called Haming distance. Haming's distance between two vectors u and v was denoted by d(u,v) and represents the number of places in which they differ. In the end, three conclusions will be given, where a comparison will be made of encoding and decoding messages through Haming's coding matrices and distances.

Impact of Risk Management on the Performance of Kosovo Pension Fund Assets

Shkendije (Demalijaj) Ukaj, Tax Administration of Kosovo

Pristina, Kosovo

3:30 PM - 5:00 PM

This paper aims to provide an overview of risk management and risk measurement of Kosovo Pension Fund financial assets invested in various securities in international companies abroad. The performance measurement of Pension Fund financial assets in this paper, will be achieved by performing a risk analysis and assessment as well as analyzing the rates of return on Pension Fund assets through some known valuation methods. A comparative analysis will also, be conducted to analyze the experience of some developed and developing countries regarding the form of financing system and risk management of pension funds in their respective countries. By doing this paper, however, it aims to make a modest contribution to argue the situation regarding the management and performance of return on invested Pension Assets and to determine where improvements should be make in the future.

Innovation in Transport and Logistics Through the Use

Dashmis Istrefi, University for Business and Technology - UBT

Pristina, Kosovo

3:30 PM - 5:00 PM

This research is concerned with the methodology of reducing shipping costs for the transport and logistics industry with particular emphasis on distribution services. Most operations for these services depend on vehicles, so keeping the cost of transport to a minimum will increase the profit margin. Each company has different requirements from customers for distribution of goods and their vehicles have different capacities available. The problem with this research is that in each of the routes, a vehicle starts at the warehouse with a certain amount of packages for distribution, then visits a subset of customers in order to deliver the packages.

Regardless of the time during a shift, a vehicle must always meet the capacity limitations of the vehicle. The Logistics system in this case study is used as an order collection and optimal vehicle delivery technique that has been further refined to suit customer requirements. The cost of transport is calculated for corresponding distances to compare the effect we get from this system.

Kosovo's Financial Reporting System and Donor Support in its Development

Nazmi Pllana, University for Business and Technology - UBT
Sakip Imeri, University for Business and Technology - UBT
Selman Berisha, University for Business and Technology - UBT

Pristina, Kosovo

3:30 PM - 5:00 PM

In all countries of Eastern and Southeastern Europe, and especially in the Balkans, during the transition from the socialist to the capitalist system, financial and technical assistance and support from foreign donors was crucial. This is especially evident in Kosovo, where many changes have taken place within a relatively short period of 15 years. With the help of donors such as the World Bank, USAID and the EU, the necessary legal and institutional infrastructure for financial reporting was created. This assistance resulted in the creation of the legal infrastructure as the basis for the establishment of the financial reporting system. The purpose of this study is to demonstrate and demonstrate the impact of donor assistance on developing and enhancing the quality of financial reporting in Kosovo

Modeling the Estimated Fundamental Value of the Kosovo Commercial Banks

PDF

Florin Aliu, University for Business and Technology - UBT
Fisnik Aliu, University of Prishtina
Arton Nuhiu, University of Prishtina
Lenka Dokoupilova, Tomas Bata University in Zlin

Pristina, Kosovo

3:30 PM - 5:00 PM

Valuation is an important component of the bank appraisal since it determines the financial position of the common stocks. The work identifies the deviation of the intrinsic value from the shareholders book value, not the market price of the Kosovo commercial banks. The study use accounting items composed from the audited financial statements of the 10 selected banks operating in the Kosovo banking industry. The methodology stands on the discounted cash flow model adjusted for the bank specific characteristics. The absence of the Kosovo Stock Market generated certain limitations during the valuation process where the cost of equity and beta coefficients were obtained from Damodaran Database. Results of the work show huge deviation between book value of the banks and their estimated intrinsic value.

Organizational Culture of Higher Education in Kosovo and North Macedonia

Leonita Braha, University for Business and Technology
Kaltrina Bunjaku Pasuli, University for Business and Technology

Pristina, Kosovo

3:30 PM - 5:00 PM

Organizational culture is one of the key factors determining the success of an Institution. In the context of defining the notion of "organizational culture" different efforts have been made from different scholars. The Anthropologist Edward B. Taylor 148 years ago offered a broad definition, stating that culture is that complex whole which includes knowledge, belief, art, morals, law, custom, and any other capabilities and habits acquired by man as a member of society. For a healthy society we must have a wellbeing knowledge temple. Knowledge temple is University, and the university is a complex social organization with a diversified culture.

The purpose of this paper is to analyze and compare organizational culture of higher education in Kosovo and North Macedonia based on the six dimensions of Geert Hofstede’s and ethnographic research on the impact of organizational culture on effective management. Gert Hofstede’s dimensions or variables indicate the culture of the organization, more precisely measures the effectiveness of the organization, the philosophy of management, focus, integration, control and customer orientation. The results show that six organizational culture variables for higher education in Kosovo and North Macedonia needs improvement since from six dimensions, In Kosovo four dimensions accelerate the strategy of organization while two others dimensions makes difficulty, in North Macedonia three dimensions accelerate and three others dimensions makes difficulty. Expressed as a percentage in Kosovo 67 percent of the outputs from the dimensions simplify the organization's strategy and 33 percent of them make the organization's strategy more difficult while in North Macedonia percentage is fifty percent with fifty percent.

Relationship Between Financial Literacy and Entrepreneurial Success in Kosovo

Bejtush Ademi, University for Business and Technology

Pristina, Kosovo

3:30 PM - 5:00 PM

This paper aims to assess the relationship between financial literacy among entrepreneurs and their entrepreneurial success in Kosovo. Entrepreneurs are continuously involved in decision-making regarding venture financing, allocation and utilization of financial resources, analysis of creditors and debtors, cash management, book-keeping practices and business risk assessment to run their own businesses. Financial literacy contributes to the profile of the entrepreneur. In fact, studies have shown that there is a direct causal link between financial literacy levels and entrepreneurial performance. In this paper, financial literacy is defined in the context of entrepreneurs of small and medium businesses. A financially literate entrepreneur defines one that demonstrates knowledge in assessing financing and financial management options throughout the business development stages; capacity to generate, read, and understand financial statements; knowledge of financial products; knowledge of legal and regulatory framework. On the other hand, entrepreneurial performance is indicated through sales growth, profitability, timely loan repayments, risk management, return on assets, and liquidity. This study focuses in Kosovo and a survey questionnaire will be distributed to entrepreneurs running SMEs in Kosovo.

Relationships between Organizational Change and Employee Stress

Osman Sejfijaj, University for Business and Technology - UBT
Ermira Shehu, University for Business and Technology - UBT
Fatmir Memaj, University of Tirana

Pristina, Kosovo

3:30 PM - 5:00 PM

Changes in the business environment and in the enterprise are one of the most common reasons for stress at work, one of the major risk factors for worker safety and health. Resistance is at a lower level if employees are motivated and prepared for change.

This paper focuses on the stress factors that employees must go through in situations where change management is not done through proper leadership and active employee participation in managing this process. The research suggests reducing the resistance of employees within the organization, provided that the changes are the result of environmental research, advance planning, readjustment, adaptation to technological change and by applying and using certain characteristics of enterprise leadership. Any intervention made to bring about change consists in using the most appropriate instruments which must be consistent with the features of the enterprise. Change in one or more organizational factors such as; structure, culture, leadership, job demands, or physical conditions push employees to resist change and cause stress. Stress causes absenteeism, high worker mobility, conflicts at work, in the family, work overload that results in reduced productivity, low morale and job dissatisfaction. The paper attempts to explain the impact of successful implementation of change, the factors that assist the process, employee feedback and stress factors, and measures of implementation and overcoming of stressors. The summarized results allow us to perform appropriate, specific oriented actions to achieve commitment to work and prevent stress.

Research Management in the Higher Education Sector in Algeria

Zine Barka, University of Tlemcen
Fatima Zohra Kiari, University of Mascara

Pristina, Kosovo

3:30 PM - 5:00 PM

Scientific research is seen as an essential part of the development and growth in all the dimensions, economic, social and technological.

Based on this theoretical assumption and widely documented, soon after gaining Independence in 1962, Algeria has engaged actively in a policy to promote higher education and scientific research and made them one of the priorities of its development policy. And precisely, since the end of the 1970s considerable financial efforts have been made to open the University to its environment by enrolling a growing number of students. The aim behind such a policy was to provide the formation of human resources qualified in different fields in order to implement the development policy. But it seems that after a fifty-seven years of independence, some achievements are showing weaknesses in terms of training and skills capable of mastering the new technologies.

The present work highlights the track followed by analyzing the structure of the research units and centers set up, the planning of the scientific research and its funding. The methodology used to conduct this work is based on the analysis of the budgetary data in the sector as well as working papers and papers produced on the topic. We will also try to document these questions: Are the achievements adequate with the funds allocated into to the sector? What is holding back the potential of the researchers? And finally, what are the difficulties and challenges of scientific research in Algeria?

The work will be structured in three phases as follows:

I- The process of building national research system. Investments and achievements.

II- The organization and programming of the national system of scientific research.

III- The issues of the management of scientific research and the results in terms of research training, and scientific production. The main challenges facing research in Algeria.

Search Engine Optimization Effect on Online Purchase Decision

Jonida Xhemaili, University for Business and Technology

Pristina, Kosovo

3:30 PM - 5:00 PM

Search engines have triggered a change of how consumers search information and make purchases. Consumers constantly use social networks to look for products, compare prices and check other specifics. Internet technology has grown to an extent that it provides the opportunity to get inoformation from anywhere and anytime. Search engines continue to integrate to our daily activities, and their importance stands on the fact that individuals use these engines to search information about a company or product. This paper focuses on understanding the effect that search engine optimization has on online purchase decision and it explains how search engines support the behaviour of customers. This research has been conducted by collecting primary data. Statistical analysis, with the use of SPSS tools, are used to better understand the relationship between SEO and online purchase decision.

The Effect of Digital Revolution, and ERP Software Usage in Banking Sector

Hasan Metin
Aurora Mustafa, University for Business and Technology - UBT

Pristina, Kosovo

3:30 PM - 5:00 PM

This research aims at assessing the effect that the digital revolution has in general, while the main focus is on the banking sector of Kosovo. The research describes the impact of digital technology such as ERP software, on the overall performance, on the quality of services provided, and on achieving enterprise strategic objectives of banking. Extraordinary advances in digital technology have transformed the way that banks function. High opportunities exist for the use of digital era infrastructure, to create local and global opportunities. High competition and various challenges in the banking sector are pushing banks to adopt new digital models, which represent unique resources and added value to them. The research model involves a combination of qualitative and quantitative methods, and is realized by employee survey in banking sector and their clients. The research results provide a good mix between the theoretical part and the practical one in the effect of the digitization, and in particular the ERP software in the banking sector.

The Effectiveness of Active Labour Market Policies in Reducing Unemployment in Kosovo

Albulena Jahja, University for Business and Technology
Nick Addnett, Staffordshire University
Artane Rizvanolli, Staffordshire University

Pristina, Kosovo

3:30 PM - 5:00 PM

This paper investigates the effectiveness of Active Labour Market Policies (ALMP) in Kosovo’s labour market. The main aim of this paper is to evaluate the relative effectiveness of three active measures: On the Job Training (OJT), Internship Scheme (IS) and Institution and Enterprise Training (IET). The estimation techniques used for this empirical investigation are Propensity Score Matching (PSM) and Inverse Probability Weighting – Regression Adjustment (IPWRA). Since there is a range of active programmes in which an individual can participate, the choice of participation should be extended from ‘participation vs. non-participation’ into a multiple choice model (Lechner, 2001). The approach used in this analysis provides information on whether participants of one programme would have performed better if they had participated in another programme. The second estimation technique, IPWRA, allows extending from the ‘participant vs. non-participant’ analysis of PSM to a multivalued treatment assignment model while utilising an appropriate set of covariates which are available for both the treated and control groups. Therefore this paper investigates whether being a participant in one of the three active measures improves the likelihood of gaining employment in general and being engaged in the formal labour market in particular compared to being a non-participant and also compared to the other two programmes.

Understanding Impact of Professional Training on Work Performance

PDF

besnik skenderi, University for Business and Technology
Diamanta Skenderi, Tax Administration of Kosovo

Pristina, Kosovo

3:30 PM - 5:00 PM

Because of fast changes in technology, work processes and legislation there is a need for faster preparation of work labor, however formal education is failing to prepare people within required time and skills that are required by labor market. This paper is analyzing training needs for businesses and available training that are offered by public and private institutions. For this paper, case of TAK, Kosovo Telecom and UBT was analyzed and findings are compared with training's that vendors are offering within UK and USA. In addition also findings from national Accreditation Agency where discussed, regarding professional schools.

Vat Reduction in 8% and Impact on Household Budget

PDF

Mustafe Hasani, University for Business and Technology - UBT
Vahide Hasani, Economic High School – Ferizaj

Pristina, Kosovo

3:30 PM - 5:00 PM

Increased care, implementation, and greater importance in creating fiscal policies that impact in the economy and family consumption began after the declaration of Independence in 2008, when the first tax reforms were made. But the fiscal reforms called the "Fiscal Package 1" which started its enforcement by the end of 2015, especially the VAT reduced rate for household consumption from 16% to 8% had the main effect on the consumer basket and the family budget, which is also the main approach of this paper. Based on the analysis of many indicators, statistical data and questionnaire we have verified how much was impact in the household budget by the decrease of VAT rate. We will give an overview on the influence of this reform on the household consumption basket by focusing mainly on essential products for living. By comparing the experiences of the countries in the region and the survey with the respondents we will be able to see how these changes were expected by the citizens, how do they evaluate the impact on their family budget, as well as possible suggestions for other positive ways that can contribute in saving the family budget. Hypothesis from the comparison of the results of the findings and the answers from the survey was verified that family consumption basket with VAT reduction has lower cost especially for public services and saving the family budget. While the implication on the general budget of the state from reduced VAT rate is very small, compared to the benefits of low-income households.

5:15 PM

Alternative Energy Generation and its Economic Impact on Developing Countries: A Case Study of Albania, Kosovo, Montenegro, and Northern Macedonia

PDF

Ruzhdi Matoshi, University for Business and Technology
Isa Mulaj, Institute for Economic Policy Research and Analyses Prishtine, Kosovo

Pristina, Kosovo

5:15 PM - 6:45 PM

Energy as a comprehensive source of economic development has undergone transformation and is evolving into alternatives. Due to the concerns about pollution, energy generation is constantly seeking an alternative that is friendly to the environment, or at least with substantial lower harmful effects. This effort involves costs of investment, especially in developing countries. Investment in alternative, cost efficient and friendly environment energy is no longer the sole isolated objective of a country, thus it may involve several countries, especially neighboring ones to coordinate their efforts. This paper looks into the state and prospects of alternative energy in four small developing countries in the Balkans: Albania, Kosovo, Montenegro, and Northern Macedonia by analyzing their current producers, shortage and/or surplus of energy, sources, environmental costs, and the impact on their national economies. All this in a relatively small area of over 72 000 km2 and 7.4 million inhabitants of four countries. A particular emphasis will be placed on comparative analysis of hydro-power and solar energy.

Any Effects of Work Life Balance and Employee Benefits on Employee Engagement?

Perwaiz B. Ismaili, Metropolitan State University

Pristina, Kosovo

5:15 PM - 6:45 PM

Several studies have contributed in studying the relationships between the work-life balance, employee benefits and employee-organization engagement using classical analyses. While such studies have contributed to the general understanding of the holistic concepts, however, the detail latent discernment are limited using classical analyses. To further contribute to the advances of business studies, in this paper, using the corporate data of off-shore branches, a cutting-edge Artificial Neural Network (ANN) has been used to discern the latent patterns of relationships between these elements. The overall correlation was weak using the classical analyses however, when provided qualitative data from the off-shore branch were analyzed using an exploratory model of the categorical time series ANN tool, called Knowledge Diagraph Contribution (KDC), the effects of work-life balance were strong. In general, fine-grained KDC analyses indicated that work-life balance and employees benefits does have an effect on corporate engagement. The discerned nuanced patterns of such employee-corporate engagements will be presented at the conference.

Board of Directors' Quality on Earnings Management: Evidence from Insurance Industry in Kosovo

Fidane Spahija Gjikolli, University for Business and Technology

Pristina, Kosovo

5:15 PM - 6:45 PM

The board of directors represents a group of individuals who are elected as, representatives of the stockholders to establish corporate management related policies and make decisions on major companies’ issues. This study examined the board characteristics have any impact on earnings management on the insurance industry in Kosovo. The board of directors can be characterized by quality properties. Quality dimensions of the board identified in prior studies as important contingencies of earnings management include board size, board independence, frequency of meetings, financial expertise, board rotation). Collectively, the evidence in this study signifies that board of directors’ quality are important mechanism for deterring earnings management.

Consumer Protection and Care in Kosovo

PDF

Hamëz Rama, University for Business and Technology

Pristina, Kosovo

5:15 PM - 6:45 PM

Based on the principle, a state is made up of social communities, respectively society in general, while the consumption structure is made up of the individual, the family, the social communities, companies and institutions, but in a word they are all consumers. Kosovo after the war has accepted the market economy system, ie the law of value, competition, the supply and demand.

In economic systems dominated by a market economy, but also in Kosovo, consumer protection refers to infrastructure and legal provisions sponsored by the Government of the Republic of Kosovo and approved by the Assembly of the Republic of Kosovo, designed for consumer protection and harmonized with the highest EU standards, as Kosovo aspires to EU membership, and in the other form consumer protection is product liability. Based on the statistics, Kosovo is known more as a state of consumption than a state of production, while protecting and caring for the consumer we must introduce our culture and mindset, good or not good, we must present as high value in material property, using marketing for encouragement and motivating consumers to consume more than enough.

Consumerism in practice has more definitions, while in business and economy in general even in Kosovo it means, to protect consumer rights and safety, initially, consumer health protection and compliance principles of market competitiveness, offering quality products with acceptable offer, and at all safety products. Consumer protection is based on consumer rights, or, to the idea that consumers have a right to inherently for basic health and safety.

Part of this context are: Institutions of the Republic of Kosovo: MAFRD, MTI, VFA, Kosovo Customs, KTA, and other relevant executive agencies, which have legal and constitutional obligations to protect and care for the consumer.

Effectiveness Increase in Kosovo’s Mines Through the Digitalization Process. Case study – Mine and Industry of Magnesite "Golesh”

Hasan Metin, University for Business and Technology - UBT
Hyrije Aliu Dragaqina, University for Business and Technology - UBT

Pristina, Kosovo

5:15 PM - 6:45 PM

This study aims to investigate the impact of digitalization process for mining sector that would enhance their effectiveness, as well as gives some guidelines on digitization for mining companies in Kosovo which seek to operate steadily as other mining companies around the globe Mines and their industries in Kosovo are in a passive state, with outdated and destroyed technology by War in Kosovo. Data generated presents that the Mines of Kosovo do not function effectively and efficacy, knowing that they are the country's biggest asset. Investment in digitalization process of mines and their industries has the potential to influence positively for their recovery, affecting the growth of production, sales and financial revenues, this will give mines of Kosovo opportunities to have a worldwide competitive advantage. Mines as the essential sector for the economy of the country, with their functionalization, will have a sustainable economic and social development. Specifically, investing in the digitization of mines and their industries can improve performance in the socio-economic arena and open up sustainable jobs for the country's long-term development.

Globalization of Banking Business and Risk Management

PDF

Arbiana Govori, University for Business and Technology
Qemajl Sejdija

Pristina, Kosovo

5:15 PM - 6:45 PM

Risk management is a vital component of internal control and refers to the process of identifying and analyzing risks in achieving the organization's objectives and in defining a suitable risk mitigation response. This means:

✓Identification of the risk

✓Risk Assessment and Classification

✓ Assessing the organization's appetite for risk

✓ Prepare a Risk Response

Also, risk management should be reviewed and reported in order to monitor whether a risk profile is changing or not, to obtain guarantees that risk management is effective and to identify further action that is needed.

Typical problems related to risk management that are encountered are:

➢ Senior managers are not aware of the responsibility they have for implementing it and / or do not seem to want to implement it.

➢ Mid-level managers are afraid to apply risk management as they may not want to accept the risks / weaknesses in their current work arrangements.v

➢ Where risk is managed, it is often implemented at the end of the internal control process, rather than at the beginning.v

As risk management refers to the process of identifying and analyzing risks to the achievement of objectives, this management requires financial institutions to set their business objectives and then carry out a risk analysis to see if these objectives are possible realized. Risk management can be seen as a bridge between the control environment and the control of activities, since it is precisely on the basis of the risk analysis that internal controls need to be set up. If the risk analysis is done after the internal controls have been set up, then it is unlikely that these controls will be the appropriate ones to cope with the risks.

Horse as a Measurement of Economic Situation in the Albanian Tradition in The First Half of XX Century

Nexhat Cocaj, University for Business and Technology - UBT

Pristina, Kosovo

5:15 PM - 6:45 PM

Agricultural and livestock activity in almost 75% of the population throughout the Albanian area has been the main activity of households. But it is very striking the way how the economic status of a family was determined until the first half of the twentieth century, namely how households were ranked by economic status, was measured. Although the real estate of a family has not always been known, because the change of systems has made the wealth of a family not known to the public or to the environment in which the family lived. One of the measures of the economic status of a family, in our tradition, has been the number of horses in a household. But when counting the number of horses, one must keep in mind their classification such as saddle horses, working horses, mules and donkeys.

In this way, by determining the economic situation in many Albanian settings, marital relations have developed. So in many settings according to ethnographic memories, a middle-class family has refused to marry their daughter to a family that has not had a saddle horse, because it is estimated that that family that couldn't afford a saddle horse is not a wealthy family and their daughter cannot live well. While the girl's family was proud to have made a marriage alliance with a wealthy family if that family had more than two saddle horses, more than five working horses and 10 - 20 mortar horses. A poor family, according to ethnographic criteria for determining the economic situation, is considered the family, which had only a mule or a donkey at home.

Therefore, in supporting the data collected in the field through ethnological research methods, in this paper I will attempt, through the horse, in this paper to provide examples of determining the economic situation of Albanian families until the first half of the twentieth century in all Albanian space. Because the family economy, however primitive it was, it has kept Albanian families afloat and has evolved to this stage, where we are today and where we expect to arrive tomorrow.

Logical Framework Approach and Way to Conceptualize Project Proposals

Hasan Metin, University for Business and Technology - UBT
Dea Mustafa, University for Business and Technology - UBT

Pristina, Kosovo

5:15 PM - 6:45 PM

In order to have successful projects, companies are using different project management methodologies. One of the standard and proved logical framework methodologies is PRINCE2 (Project In Controlled Environments) which is de facto standard for project management in UK. Aim of this research is to prove that with implementation of the LFA, projects will have more probability to succeed; failure of the pro-jects will be identified in early stages of the project and products will be delivered with agreed time, quality and cost.

Literature used for this research is PMI, OGC, APM and academic journals. Findings from these research show that there is no evidence of proper risk analyze, decisions during project life cycle are ad hock and that there is not any standard in place for project management. Reasons for project failure are very similar with reasons which are iden-tified by PMI.

Recommendations which are coming from this research are support-ing and justifying implementation of standardized project management methodology and recommended project management methodology.

From this research are identified some questions, which are challeng-ing bodies of knowledge and in a same time are offering base for fur-ther researchers.

In time of globalization and aggressive competition in order to sur-vive many businesses are becoming project oriented businesses. Com-panies are investing a lot in staff which is involved in project manage-ment, despite this fact companies are still facing with big number of failed projects. Most of the projects are failing because their initial pro-ject implementation processes are not clearly defined, risks are not ana-lyzed, project control is missing and because of the lack of validity of the business case. Although there is a set of standards and techniques for project management, in the current era of globalization and estab-lishment of different strategic alliance it seem more appropriate to im-plement standardized logical frameworks.

Simple Interest as a Special Case of Compound Interest

Ramadan Limani, University for Business and Technology

Pristina, Kosovo

5:15 PM - 6:45 PM

In this paper it is shown that the simple interest can be considered as a special case of that compound one, and thus, we are able to calculate the effective interest rate (EIR) for simple interest deposits. Some examples of calculating the balance for simple interest deposits by using the formula for the balance of the compound interest and their corresponding effective interest rates are shown. A mathematical formula for calculation of the effective interest rate for simple interest deposits is given. Instructions of using the financial consultant CASIO FC -100V for accurate calculations, are also shown.

Strategic Management and Entrepreneurship in the Republic of Kosovo

Sejdi Xhemaili, University for Business and Technology - UBT

Pristina, Kosovo

5:15 PM - 6:45 PM

In this paper the area and objectives of strategic management and entrepreneurship will be examined, i.e. what it is concerned with and which goals it aims to achieve. As an example studies involving competitive advantage when applying the strategic management and entrepreneurship will be specified. The area of behaviour in the strategic management and entrepreneurship and its focus will be taken into account as well as what opportunities are given for the further development of small and medium companies. An answer will be given to the question of whether strategic planning is really so important. Further the strategic management and competitive advantage and the process of strategic management and his steps will be also considered. The positive guidelines to application of the strategic management in entrepreneurship will be briefly given.

In terms of strategic management and entrepreneurship in the Republic of Kosovo the access to the entrepreneurship by the Government of RK will be exposed. Reference to the role of the Agency for Support of Entrepreneurship of the Republic of Kosovo (ASERM) will be also given. In that relation, the Program of measures and activities in support of the entrepreneurship and creating competitiveness of small businesses in the Republic of Kosovo will be taken into consideration, as well as other programs adopted by the Government, that relate to the entrepreneurship and the small businesses. Other activities of the Government of the RK for encouragement of the entrepreneurship will be specified. In relation to the strategic framework for support of the development of small businesses the documents in which it is defined will be mentioned. An emphasis of the extent of application of the strategic management in small and medium companies will be given, i.e. whether they do apply the strategic management and to what extent they are doing so.

The Analyses of Management and Manager’s Experience Impact on Success of Kosovo SME’s

Enver Krasniqi, University for Business and Technology
Xhevdet Krasniqi, Arsimi I Shqipërisë, Prishtinë
Dea Krasniqi, Westmister Business School, London

Pristina, Kosovo

5:15 PM - 6:45 PM

This paper deals with a detailed overview of management in general with the SME growth and development in Kosovo. So, it deals with the main factors such as the main components of management and its impact on the success and development, the techniques and the approaches to assess the SME economic system and their development. With the contribution of research to SMEs that take initiatives towards the Strategy implementation of their strategic development. This paper also deals with the growth of micro and small economic firms and the role of Management experiences in firm success. Until today there is no unique model that explains management and firm’s growth in aspect of management theories. We have also mentioned the life cycle phases of firms that are not based on economic theory but have received much attention from organizational theories of enterprises. The economic situation in Kosovo contains the performance indicators based on business registration in Kosovo. So, chronologically were analysed a Kosovo's economic development is generally, given that Kosovo has a liberal trade regime characterized by simplicity and neutrality of business or SME registration. This has slowed down or hindered the development of the private sector in a coordinated and controlled manner, as well as creating conditions for exports or SMEs to be competitive in the region and beyond. This has adversely affected the improvement of the competitiveness of newly established local manufacturing sectors, where Kosovo is facing high trade deficits and a non-favourable ratio of import and export coverage. This kind of created situation will hinder stability and macroeconomic growth. Research findings on SME management problems in Kosovo have to do with diagnosing the current state of micro, small and medium enterprises. The other purpose of this research is to produce important results for the existing situation, structure, difficulties, etc. Data provided in this paper are provided by the Kosovo Agency of Statistics and Kosovo Customs as well as by a questionnaire conducted by BSCK in 2016, with 500 businesses throughout Kosovo except the northern part. In the framework of the empirical analysis, the model of factor analysis and linear regression model was applied, where the dependent variable "The Profit growth and overall turnover of SMEs in Kosovo" was defined.

The Socioeconomic and Human well-being Issues of Coal Mine Workers in Orakzai And Kohat Districts, Pakistan

Muhammad Ashfaq, International Islamic University Islamabad

Pristina, Kosovo

5:15 PM - 6:45 PM

The basic assumption of the study is that National and Provincial mineral policies and mining laws are facilitating coal miners’ health issues as well as have the provision for safety trainings, but due to the lack of implementation of these policies and laws many accidents have been happened on daily bases in coal mines. Most of the miners have been got injured due to lack of concentration and proper monitoring of the state functionaries the coal mine regular and temporary workers have been exploited by the mine owner. On one hand, causes of the worker death and diseases are not only natural but are exacerbated as a result of not being reported by “Inspectors” and “Engineers” who have been appointed for the safety of the workers. The study revealed the relationship between mine’s owner, engineer and inspector which also contributing in the death of miners. These people are getting political economic benefits from that relationship. The study explains the ratio and causes occurring in both private and government coal fields. The study elaborates the affect mining activities on human well-being. The main focus of this study is the coal mine workers death disease causes and as well as sexual harassment of miners children happened due to not proper monitoring from inspectors who appointed for miners safety and their welfare. In-depth interviews are used for this studies and this study conducted in District Kohat and District Orakzai, Pakistan.

2020
Saturday, October 31st
9:00 AM

Digital Marketing and its Impact on Sales

Gonxhe Beqiri, University for Business and Technology

Lipjan, Kosovo

9:00 AM - 10:30 AM

Management models and marketing strategy have transformed with the advent of the Internet and the development of information technology. In addition, the approach of business activities has changed in relation to the consumer behavior, communication process and in particular the effects are observed in the sales of products. The main purpose of this paper is to analyze the changes that are encountered in business sales after the application of digital platform in marketing activities. The leading question of the research is: does digital marketing influence the growth of business sales compared to the applied forms of marketing on earlier stages? Data collection was accomplished by sending questionnaires to several digital-based companies in Kosovo, to analyze the state of sales after the application of some specific categories of marketing by integrating the digital channels. Throughout the research it was ensured that the applied sample represented the population. The data analysis method through dependent sample t-test was used to confirm the hypotheses presented in the paper. Information review and interpretation was achievable through a statistical software for data analysis. The results show that after the application of digital marketing channels there was an impact in enterprises sales, therefore proving the main hypotheses of the research.

Gender and Firm Innovation: Evidence From Transition Economies

Arta Mulliqi, University for Business and Technology - UBT

Lipjan, Kosovo

9:00 AM - 10:30 AM

Innovation represents a key predictor of firm performance, international competitiveness and overall economic growth. While the determinants of innovation have been extensively investigated in the literature, research on the relationship between gender and innovation remains scarce, especially in the context of transition economies. Employing data from the most recent enterprise surveys (2018-2020), conducted by the EBRD, EIB and the World Bank, this study aims to assess the relationship between the participation of women in ownership structures, and top management and firm innovation, while controlling for many other firm characteristics. The results of this investigation suggest a positive association between the presence of at least one woman among owners and both, product and process innovation, the effect being less significant for the latter. The empirical findings also support the hypothesis that having a woman top manager increases a firm’s probability of carrying out product innovation. The effect is statistically insignificant in the case of process innovation.

Pandemic and Economic Crisis in Society

Plamen Iliev, New Bulgarian University

Lipjan, Kosovo

9:00 AM - 10:30 AM

We still don't know how badly the current crisis will hit the economy. But despite or precisely because of the looming severe recession and economic crisis, fragmented and divided societies until yesterday can heal thanks to a hitherto unexpected injection - solidarity. The global scale of the health crisis and its economic epicenter in EU and euro area countries is creating additional external pressure on disrupted global supply chains. Economic uncertainty caused by the uncertainties surrounding the development and duration of the pandemic and rising unemployment are prerequisites for shrinking domestic consumption, mainly to basic necessities, which is reflected in society. The crisis clearly shows that many business models have a serious need to change, shows the great dependence of modern society on information and communication technologies and outlines the emerging processes of digitalization, automation and robotics in the context of Industry 4.0, which require timely adaptation by society.

Project-Based Learning Assessing: Peer Assessment on Travel Business Management

Kanlaya Swangkong

Lipjan, Kosovo

9:00 AM - 10:30 AM

This paper is a case study to study the project-based learning method in the course “Travel Business Management”. This course focuses on the business model and problems in operation. The main objectives of this course were to teach students to understand the principles of operation and to be able to organize trips to the public. The purpose of this study is to evaluate the successfulness of the project-based learning method by peer assessment technique. Students were assigned to set up their own mock-up tour company and arranging the full tour program. The instructor has established assessment form for the assessment in 5 areas: 1) Collaboration 2) Problem Solving 3) Initiative 4) Responsibility and 5) Leadership which are essential skills for 21 st century learning. The results show that the Collaboration, Initiative and Responsibility are satisfied while Problem Solving and Leadership is neutral. Moreover, students show excitement and enthusiastic.

The Importance and Impact of Foreign Direct Investments (FDI) in Transition Economies

Nazmi Zeqiri, University for Business and Technology - UBT

Lipjan, Kosovo

9:00 AM - 10:30 AM

The literature on FDI impacts is enormous, but the results from different studies regarding the impact of FDI on the economy are inconclusive. However, as far as transition countries are concerned, we can witness more agreement on the [positive] effects especially in some advanced transition countries hence considering FDI a lead driver for sustainable development. Because of the [quick and challenging] transition from planned to market economy, in most of the transition countries domestic capital is incapable to meet all investment needs. Therefore, the role and impact of FDI is more than crucial in the transition economies comparing to developed countries. In general, not all economists would agree on positive effects and impact of FDI, but when it comes to undeveloped especially transition economies, according to economic literature, there is more agreement on positive effects of FDI in economic development. In general, the main focus of this paper is to examine the impact of the FDI in transition countries based on literature review and recent empirical FDI studies. The paper will be focused but not limited to impact of FDI on output and growth, employment and wages, productivity, technology transfer and networking. Below we will overview and discuss these impacts separately. A summary of selected FDI studies and its impacts will be presented too.

The Importance of Macroeconomic Factors in the Equity Price Changes: The Case of Balkan Countries and Turkey

Bashkim Nurboja, University for Business and Technology - UBT
Florin Aliu, University for Business and Technology - UBT

Lipjan, Kosovo

9:00 AM - 10:30 AM

Efficient stock prices enable channelizing the unutilized financial recourses from economic entities with excess of funds to those in need of investments. The study explores the impact of macroeconomic indicators on the price changes of the major Balkan equity indexes and Turkey. Monthly data on the following equity indexes were selected to analyze the outcomes of the work, such Istanbul Stock Exchange (BIST100 index), Bucharest Stock Exchange (SE BET index), Ljubljana Stock Exchange (SBI TOP index), Bulgarian Stock Exchange (SOFIX index), Zagreb Stock Exchange (CROBEX index), Belgrade Stock Exchange (BEL EXL index), Macedonian Stock Exchange (MBI 10). The results indicate that macroeconomic factors play a significant role in most of the selected equity exchanges. From a managerial perspective, the work delivers signals for the investors on the possibilities of diversifying their portfolio in the Balkan and Turkish stock exchanges. Governments by recognizing the financial literacy in these countries can provide policies to improve the efficiency of these exchanges.

10:45 AM

A Nation’s Mission Of Housing and Consumption: An Analysis of Household Budget Survey Expenditures in Kosovo

Florin Aliu, University for Business and Technology - UBT
Isa Mulaj, Department of Economic Research, Institute for Economic Policy Research and Analyses, Republic of Kosovo

Lipjan, Kosovo

10:45 AM - 12:15 PM

In digital and artificial intelligence intensification era where up to 2/3 of Gross Domestic Product (GDP) is generated from the service sector, nearly ¾ of household budget is spent by the Kosovo families in food and accomodation. This is a larger and greater share than in the neighboring countries to which Kosovo approximately has the same level of incomes per capita. At the same time, for some years in a row, spending for education until the recent available data has not exceded 1%, showing another difference with the neighbring countries in volume as well as in total share of household budget expenditures. Using the secondary data from the Statistical Office of Kosovo on household survey of family economies, this paper finds that the ongoing high share of income spending in food and accomodation at the expense of other sectors becomes a source of innefficiency in social and state organization, plunges the households into unnafordable debts, and may even give rise to corruptive behvior. In addition, the paper goes beoynd numerical economic indicators by interpreting the mentality of the families and the population in large scale, which consider much of their life mission only through available incomes for food and housing (contruction of houses and buildings) as a wealth. Furthermore, this mentality of perceived wealth is often used as a comparative indicator of pride while ridiculing the others who are not at a similar level with them, regardless that the latter may have a different view of their own life style and mission. Another specific of this paper making it different from the buld of studies in this respect (on household budget surveys) is that, while the rest of the studies usually address economic recommendations to the government, the recommedantions from the findings of this study address recommendations to the population, because the government, state and public institutions are a product of this people whose primary life objective is in buildings and consumption on individual, family and clanish bases.

Big Data Analytics on Cloud: Challenges, Techniques and Technologies

Aleksander Biberaj, University of Tirana
Bledar Kazia, Canadian Institute of Technology (CIT), Tirana, Albania
Renalda Kushe, University of Tirana
Olimpion Shurdi, University of Tirana

Lipjan, Kosovo

10:45 AM - 12:15 PM

These days it is known that Big Data Analytics is taking a huge attention from researchers and also from business. We all are witness of the data growth that every institution, company or even individuals store in order to use them in the future. There is a big potential to extract useful data from this Big Data that is stored usually in Cloud because sometimes there is not enough local space to store big amounts of data. There is a huge number of sectors where Big Data can be helpful including economic and business activities, public administration, national security, scientific researches in many areas, etc. This data in order to be used must get processed, usually by using Big Data Analytics Techniques. It is for sure that the future of business and technology will be relied on Big Data Analytics. This paper aims to show how big data is analyzed especially when it is deployed on cloud as well as the challenges, techniques and technologies that are used and can be used, in order to analyze Big Data on Cloud. We discuss and implement different methodologies of Big Data Analytics on Cloud.

Data Access and Quality Assessment of Selected Macroeconomic Statistics in Kosovo

Mentor Geci, University for Business and Technology
Kaltrina Bunjaku Pasuli, University for Business and Technology

Lipjan, Kosovo

10:45 AM - 12:15 PM

Production of high quality statistics depends on the assessment of data quality. Data access together with data quality are main preconditions for right and timelines decision at all levels, from macro and up to company level. This paper focuses on selected macroeconomic statistics of Kosovo and summarizes reviews of data access and quality assessment including several dimensions such as quantity and quality, timelines, accessibility, data organization, time series, etc. Results shows that there is quite limited progress made since 2016 in terms of selected macroeconomic statistics in Kosovo regarding data access and quality. Some macroeconomic statistics are stopped being compiled and published since then. Relevant international standards and frameworks are referenced to assess data quality, by using two observation periods, namely, 2016 – 2020. First section starts with the description of the selected macroeconomic statistics assessed in terms of access and quality. In second section, international standards are used as reference, to be concluded in third chapter by showing the results of 2020 – 2016 comparison of selected macroeconomic statistics in Kosovo.

Digital Marketing Trends in 2020

Naim Preniqi, University for Business and Technology
Kaltrina Sylaj, University for Business and Technology
Elinda Krasniqi, University for Business and Technology - UBT

Lipjan, Kosovo

10:45 AM - 12:15 PM

Regardless of the industry companies may be operating, the digital marketing trends continues to grow rapidly. Adoption of digital marketing tools has never been easy for the businesses in terms of content, audience target, design aspects and streaming videos, sponsoring etc. Selecting the approriate digital landscape that meet the bussiness needs continues to be a challange as variety of diffrent platforms are evolved and audience switches plateform use, the businesses are forced to adopt new platforms and maintain existing once. Traditional static webpage alone no longer meets the new business needs therefore digital interactive social networks are booming and have become a necessity. The AI (Artificial intellegence) role is expected to further shape digital trends and ease the communcation between clients and business where routine tasks are thought mostly go away and provide cost efficient methods. The study analyses latest trends and challanges in the area of digital marketing by utilizing qualitative analysis to help businesses, professionals and academics with latest trends in digital marketing.

Entrepreneurs and Contemporary Human Resource Management Practices - Correlation with Business Performance

Osman Sejfijaj, University for Business and Technology - UBT
Ermira Shehu, University for Business and Technology - UBT

Lipjan, Kosovo

10:45 AM - 12:15 PM

The study of the relation between entrepreneurship, contemporary HR management practice and firm's performance has occupied a good amount of research during the last decades. The idea underlying this assumption is that contemporary management plays a key role in enhancing two of the main sources of competitive advantage for the businesses: its human resources and its organizational knowledge. Contemporary management plays an important role in developments and moreover must be a valuable supporter to respond to the demands and challenges posed by development, various barriers, crises and the constant changes in the business environment. Developments at the international and national level place demands on entrepreneur’s high expectations for survival, planned and expected results as well as competitive performance of businesses. Human resource capacity building and development, carried out through certification and ongoing mandatory training as part of staff professional development schemes, remains one of the main tasks of these entrepreneurs. Continuing professional training of entrepreneurs in modern management aims to ensure the provision of a service by updating knowledge in the field of entrepreneurship, management and human resources, adapting the skills of process leaders to international standards and the most advanced work practices as high quality as possible, as well as addressing the necessary improvements by communicating the results for each commitment made in their undertaking. Maintaining professional competence, when entrepreneurs have to face major challenges, raises as a necessary requirement that they themselves create and maintain an approach to creating a learning culture. Training and development of entrepreneurs should provide a base of knowledge, skills and professional values, which enables them to develop continuously and raise the level of performance.

Entrepreneurship Challenges as a Consequence of Non- Engagement of Project Managers

Ermira Shehu, University for Business and Technology - UBT
Osman Sejfijaj, University for Business and Technology - UBT

Lipjan, Kosovo

10:45 AM - 12:15 PM

Today, the most controversial topic in society is to establish new ideas by being famous entrepreneur. But during this process, the most challenges thing is to find solution for new era problems that all companies are facing, especially during Covid 19 period. Even that Project Management mostly is functional position in many companies, entrepreneurs need to consider in high level, the engagement of them. Identifying issues and upcoming projects, based on company strategy, is a case that need very high evaluation. The issue today is to be leader in market or to be competitive?!. Both positions have unique responsibilities and issues to determinate before being in market. In many cases this is the main job description of a Project manager. But in other side, the entrepreneurs need to take care for all market changes, competitors, market’s needs, and adjusting their product or service to fulfill all the necessary requests. The main challenge during pandemic time is to find long term solution, which can be established from project management team. The focus of this study is to evaluate the PM contribution in company development, based on their perspective, perception and ability to change in unusual situations.

Evaluation of Students’ Feedbacks on Online Education during COVID-19

Aferina Skeja, University for Business and Technology - UBT
Nora Sadiku Dushi, University for Business and Technology - UBT

Lipjan, Kosovo

10:45 AM - 12:15 PM

Covid-19 started affecting the whole world enormously within a few weeks and is continuing to do so. The primary action taken in order to limit the spread of the virus is social isolation. This process has caused difficulties in all areas, especially in education. Universities were obliged to switch to online education as all institutions closed down without stating an expected opening date. Online education has started to become the new normal in academia, but this new normal may be imposing difficulty to some. Compulsory online education during the pandemic is perceived in different ways by students. In this study students' technology usage, feedbacks about online education were analyzed and evaluated by using descriptive statistics.

Hot Spots or Balanced Score Cards?

Besnik Skenderi, University for Business and Technology
Diamanta Skenderi, University for Business and Technology - UBT

Lipjan, Kosovo

10:45 AM - 12:15 PM

Executives are spending time and effort to create working culture where employees are willing to cooperate and cooperation should be in a line with corporate mission, vision and within corporate strategy. In addition according to Gratton, (2007), “This willingness to cooperate was crucial to the second element, the capacity of people to work with others outside their boundaries” (p. 8). When employees are willing to cooperate and to contribute beyond their administrative boundaries they are triggering problem solving and innovation. Academic literature, offers two approaches for increasing productivity and cooperation within teams and team members. Gratton (2007) discusses Hot Spots that are places and times where cooperation flourishes, while Niven (2002), discusses balanced scorecards as tool “to assists organizations in overcoming two key issues: effective organizational performance measurement and implementing strategy” (p. 3). This paper discusses Grattons and Nivens approaches and author had provided conclusions and recommendations. In addition, for this paper, academic journals from EBSCO database were used.

Impact of Demographic Factors on the usage of Internet Banking in Developing Countries: An Empirical Investigation in Kosovo

Faruk Amet, University of Roehampton
Nazmi Zeqiri, University for Business and Technology - UBT

Lipjan, Kosovo

10:45 AM - 12:15 PM

Although the provision of financial services through the Internet is expanding daily, the use of online banking by clients in Kosovo is considered to be low and slow. This is regardless of the fact that banks in Kosovo are trying to promote this service and to convince its clients, foremost younger generation and business individuals. Regardless of the importance of this issue, there were no previously conducted specific studies in Kosovo regarding online banking. The aim of this study is to examine the impact of demographic factors such as gender, age, education level, occupation, and income level in the use of internet banking in Kosovo. This study is conducted at the end of 2019 and during the first part of the 2020, just before the pandemic has hit the world, including the area of the investigation. Furthermore, it might serve as a sample to be used for regional countries, due to the similarities between the banking sector and the cultural environment. In order to meet this goal, we have approached the discussion of consumer behavior in general, especially towards online banking. Probable stratified sample was used to get answers from 510 respondents from all over Kosovo. A structured questionnaire was used on closed. The results show that majority of bank’s customers in Kosovo are not currently using online banking as their financial services channel

Information and Communication as COSO Framework Elements snd Their Impact on the Performance of Entity: Case Study Republic Of Kosovo

Gresa Mjaku, University for Business and Technology - UBT

Lipjan, Kosovo

10:45 AM - 12:15 PM

This paper aims to examine the influence of two elements of the COSO framework such as Information and Communication on the performance of Institutions of the Republic of Kosovo. Accordingly, public institutions and audit agencies in our country need to work more than ever before to promote law enforcement, fight against corruption, honesty, the efficient use of public funds and the increase of government aptitudes and obligations in order to increase the performance of the entity. We handle primary data due to lack of data by secondary data from other relevant institutions. The data set includes a sample of 400 internal auditors, roofing the entire auditory region in the Republic of Kosovo. An IV-GMM model is implemented to measure the impact of two determinants in the public sector together with their metering instruments. Since the reliability of the data is proven, we think that this research has presented the current state of the institutions of the Republic of Kosovo and determining the main factors of the progress of this system. The results show that the Information and communication, including Quality of information have impact on entity performance for 42% and Form of communication have 35% impact on entity performance. Moreover, the results show that Information and Communications as a 4th element of the COSO framework, including the Quality of information and Form of communication field as measurement instruments of Information and Communications, in the case of the Republic of Kosovo has an impact 30 % in performance enhancement in public entities.

Initial Analysis of COVID -19 Deaths and COVID-Cases with HDI and Socio Economic Indicators

Yurdal Çakal Velagic, School of Economics and Business University of Sarajevo
Sema Kazazi, University for Business and Technology

Lipjan, Kosovo

10:45 AM - 12:15 PM

Developing countries lag behind in building capacities in health and education systems to deliver basic human rights. Number of COVID-19 infection cases as well as deaths rises worldwide. The Human Development Index as a composite index of life expectancy, education and GDP per capita may be more relevant than GDP in explaining development stage of a country. In this analysis, we investigate the relationship between human development index and related socio economic indicators with COVID-19 pandemic indicators. Since fatality rates assaigned to COVID-19 vary widely in different countries, we examine data both from developing and developed countries. We conducted cross sectional study to analyze relationship between HDI, socio economic indicators and COVID -19 fatality rates.

Performance Measurement in The Municipalities of the Republic of Kosovo Case Study-Municipality of Lipjan

Jeton Dragaqina, University for Business and Technology - UBT
Hasan Metin, University for Business and Technology - UBT
Hyrije Aliu Dragaqina, University for Business and Technology - UBT

Lipjan, Kosovo

10:45 AM - 12:15 PM

This study aims to measure performance in the municipalities of Kosovo, where as a case study was taken the municipality of Lipjan. Based on the statistical data which were extracted from the survey with 48 employees of the municipality Lipjan and then processed with the program Statistical Package for Social Sciences - SPSS, in the municipality of Lipjan has a high performance. The paper has two hypotheses that have been proven through correlation and linear regression that show that leadership and technology have a huge impact on performance growth, while the strategy has fallen as a hypothesis due to poor performance correlation and high level of significance.

Qualitative Impact Assessment of a Conditional Cash Transfer Program in a Central Philippine Community

Abgel L. Lalamonan, MasteBayawan National High School-Senior High School Department, Philippines
Sheena Mae T. Comighud, Basic Education Researcher, DepEd-Bayawan City Division, Bayawan City, Philippines

Lipjan, Kosovo

10:45 AM - 12:15 PM

This study utilizes the narratives of beneficiaries in the evaluation of a conditional cash transfer program. Guided by the theory that narratives bridges the objectives of the program and its impact, these narratives contain the themes describing both ends. Moreover, most of the participatory assessments did not utilize beneficiaries’ narratives in the evaluation process. The utilization of narratives was done through the participatory approach. This study demonstrates that assessment of projects through narratives is feasible. It is found out that beneficiaries adopt an eclectic stance in their participation and acceptance of activities implemented by the program.

Reward Management of Employees in the Banking Sector

Enver Daci, University for Business and Technology
Lirim Lani, University for Business and Technology

Lipjan, Kosovo

10:45 AM - 12:15 PM

A reward system is like the biggest management principle in the world. Organizations around the world, the rural banking industry are no exception, use some form of reward system; whether it is open or not, it exists. The belief that: "Reward behavior is repeated" is a statement, which is generally accepted. Rewards are therefore tools of operational control used to link employee goals. To be able to touch employees who use rewards reward must be perceived as meaningful and meaningful. Rewards are described in two different types; it can be in the form of motivational motivation (internal) or personal motivation of growth (external). External rewards can be monetary, usually a variable compensation, divided by salary or non-monetary. Employees may have difficulty seeing how their efforts translate into results and may be demotivated if they see a team member being rewarded for not contributing enough to the end result. She argues for a reward based on equality in a given team and not on a basis based on balance, where everyone gets the same. Therefore designing team-based rewards is vital if you are to avoid negative effects on motivation, which will eventually lead to bigger problems for your organization if allowed to promote. The data of the paper are primary, with a sample of 53 employees of 4 commercial banks in Peja, where the econometric results of the paper show that external, internal bonuses and other factors have an impact on the performance of employees in the banking sector.

Sales and Consumer Behavior

Besmire Aliu, University of Prishtina

Lipjan, Kosovo

10:45 AM - 12:15 PM

Knowing the role and importance of the profession of sales in the field of doing business and seeing that such a profession in our country is not given enough role and importance, we decided to do a study of this issue. The paper will be dealt with in two aspects: theoretical and practical. We were interested to know the seller-consumer reports as well as the seller-employer reports. Regarding the relationships between sellers and buyers, we were interested in how satisfied the customers are with the services of the sellers and how professional the sellers are in providing these services. While in the seller-employer relations we were interested to know how much an employer is aware of the role and importance of the seller's profession in our country.

Strategic Human Resources Management tools and techniques through Social Networks

Blerim Dragusha, University of Prishtina
Saso Josimovski, Ss.Cyril and Methodius University
Ngadhnjim Dragusha, Ss.Cyril and Methodius University

Lipjan, Kosovo

10:45 AM - 12:15 PM

Recruitment is an integral part of the strategic human resource management (SHRM) planning in the organization. Social networks influence the strategic management of human resources in an organization with the information they provide. Social networks have entered the world of strategic recruitment management even though SN are in the advanced stage of formulation and adaptation. SN provide an in-depth discussion to the understanding of the views and opinions of both parties in the recruitment process but still cannot fully replace the traditional recruitment process. The study focuses on the impact of social networks on strategic human resource management and the recruitment process in enterprises of the Republic of Kosovo. Advances in information technology enabled the recruitment process to be developed globally, and this dynamic environment of social networking created sustainable competitive advantages which additionally facilitated strategic human resource planning.

The impact of Education on Entrepreneurial Ecosystem

Ermal Lubishtani, University for Business and Technology - UBT
Iraj Hashi, Staffordshire University
Ian Jackson, University of Wolverhampton

Lipjan, Kosovo

10:45 AM - 12:15 PM

The aim of this paper is to shed more light on the relationship between education and entrpreneurial ecosystem. Innovation and entrepreneurship don’t take place in a vacuum — a whole host of factors determine how easy (or difficult) it is to start up and innovate. Education has been shown to play a significant role on the birth a new startups and innovative entrepreneurial activity. Moreover, it has been argued that there are no innovation and/or entrepreneurial ecosystems at the country level without first class universities, suggesting the crucial role of quality education in creation an entrepreneurship ecosystem that supports startups and the growth of new and innovative businesses. A distinctive feature of this study is the use of multiple estimation techniques aiming to better capture the relationship between education and entrepreneurial ecosystem. Some researchs have argued that education and entrepreneurial ecosystem might not have a uniform relationship, but rather its effect differs with respect to other country specific factors. The results seem to confirm the hypothesis that education and high quality education in particular is positively associated to the creation of a more favourable entrepreneurial ecosystem. The findings contribute to the existing debate on the role of education on entrepreneurship and innovation and can be used to design an informed policy-making agenda.

The Impact of Innovation on Kosovo Commercial Banks Performance

Shpresim Vranovci, University for Business and Technology - UBT

Lipjan, Kosovo

10:45 AM - 12:15 PM

In the recent decade, the banks have seen a powerful transformation due to the financial environment changes. The international banking sector is becoming more competitive, and with consumer behavior changing quickly, banks need to stay up-to-date with customer expectations while trying to defend market share. The significance of innovation and developing new solutions that take advantage of digital technologies, innovative analytics, and new distribution platforms have become very important as never before. We see innovation in targeting, expanding services, applying blockchain technology, delivering practical advice, and integrating payments. These kinds of efforts in the future will only continue to grow, as global banks will advance to transform the financial services industry. As part of these important trends, banks will continue testing new technologies to enhance their services and set the customer at the epicenter. As technologies continue to advance, the banks will continue to increase their investments in digital innovation and improvements. Generally, the banks have been modifying and revising their organizational structure and their business strategies. Adjustments have also impacted less noticeable features of their business, risk management practices, and governance. Given the significant changes in the finance sector over the past decade, this study will attempt to examine Kosovo trends in banking business models, performance, and market structure and assess their implications for the Banking and Financial Stability.

Urban Solid Waste Management in Low-Income Countries

Kostandin Kristo, University of Tirana

Lipjan, Kosovo

10:45 AM - 12:15 PM

The management of household waste is a major environmental problem in all Albanian communities. This is linked to several factors including the significant quantity of waste produced and inadequate infrastructure. These factors create a significant pressure on the environment and led to negative impacts on natural resources and the health and hygiene of the population. The Albania region is characterized by diverse and fragile natural environment resources. Therefore, it is necessary to preserve and protect this heritage against pollution. Based in an integration and treatment of exclusion criteria on average recycling coefficient of waste stream , we determinate to assist decision-makers in choosing an appropriate landfill site, taking into account both geo-environmental parameter, a) the shortest distance during a transport and b) the structure of the material being transported, referring to the average recycling coefficient of waste stream.

Utilizing Knowledge Management for Improving the Operational Performance of an Automotive Service Center

Besim Imeri, University of Wollongong in Dubai
Shpetim Lajci, University „Hasan Prishtina“
Naser Lajci, University „Hasan Prishtina“

Lipjan, Kosovo

10:45 AM - 12:15 PM

In the era of autonomous driving systems, the time has come to introduce systems that can improve the performance and quality of the service process while reducing the need for continual managerial oversight. By continuously collecting and analyzing information, knowledge management based systems can help large service centers avoid bottlenecks and delays but also maintain consistency in the quality of the service process across all service centers. Most of the data is already available in one form or the other and what remains is to integrate the data with the service process by using new knowledge management concepts and ideas. This paper outlines a method for creating a tool that can help service centers improve performance by automating decision making.

1:30 PM

B2B or B2C, this is the question: A case study over implementation of B2B and B2C models in the same sector and a cross-company e-business model evaluation

Besim Abdullahi, University of Vienna
Bashkim Nuredini, University for Business and Technology

Lipjan, Kosovo

1:30 PM - 3:00 PM

E-commerce as an interdisciplinary field was interpreted in literature in two major aspects: technological and managerial. In this paper we are going to closely investigate and analyse both of the mentioned aspects of e-commerce business models. There is no plausible conclusion among scholars toward proclaiming one of the models better than the other, since it depends on many other business environment factors and business functions. In our case study, we face two major players in the industry of fixing solutions and technologies. Based on swot analysis we explain different aspects of the B2B model implemented from the company Fischer Group, on one side, and the B2C model implemented from the Hilti group on the other side. The conclusion of this paper, will show that there is no clear division between the two models, resulting in the birth of new more complicated e-commerce models like B2B2C. Even Though B2B2C models are known in the literature, a closer look inside the actual technical implementation, and management of such kind of e-commerce models is missing or very rare in the scholar databases. With this case study, we tend to provide to this community, and the scholars in the field of e-commerce in general, a deeper insight into B2B2C implementations and a modest contribution to cross model evaluation and analysis methods.

Challenges, Funding Resources and Their Impact on the SMEs Growth in Kosovo

Enver Krasniqi, University for Business and Technology
Dea Krasniqi, University for Business and Technology - UBT

Lipjan, Kosovo

1:30 PM - 3:00 PM

This paper is intended to display the barriers or challenges to doing business in Kosovo, and financial resources of SMEs, and their impact on economic growth. Knowing the fact that in Kosovo more than 99% of enterprises are SMEs their have basic support in economic development, they also contribute to employment growth. In Kosovo through the years especially in the last ones, SMEs have had multiple barriers to doing business. Some of the most serious barriers that have contributed more to SMEs are access to finance, unfair competition, and corruption, to those less problematic barriers such as telecommunication, work regulation, and transport, which are not so worried for business. Most SMEs in Kosovo are forced that their business activity starts with its own funding, because they have encountered barriers that have prevented their access to finance so they forced the businesses to find other ways of funding. The commercial banks have been expensive and conservative with requested conditions for businesses. This has made very difficult the work of SMEs, given that at the time they most needed help and support. Businesses that want to enter in the market didn't find funding sources, or those who are in the market and aim to increase, they have been faced with different barriers and therefore this not suitable for a business environment and this effects in decreasing of employment and also affect negatively in the economic development of the country.

Consumer Behavior in Choosing Products for Children (0-24 Months)

Rajan Arapi, University for Business and Technology
Malsore Gashi Kida, University for Business and Technology - UBT

Lipjan, Kosovo

1:30 PM - 3:00 PM

Consumer behavior, or people buying and using goods and services, is a rich area of psychological research, especially for companies trying to sell as many products as possible to potential customers. Since what people buy and why they buy it affects many different aspects of their lives, research on consumer behavior links together some key psychological issues. These included communication, identity, social status and decision making. The topic under study is a very important issue in understanding the role and importance of consumer behavior in choosing products for children aged 0 to 24 months. This is a delicate issue as the transformation that has taken place in the way that families in developing countries buy their consumer products is now happening in our country as well. The key role in this transformation has been the development of retail chains in developing countries, so-called retail, and the same transformation is taking place in our shopping culture. The data collection method will be conducted through a questionnaire, which will survey a total of 150 participants selected through the intentional method. Thequestionnaire consists of 15questions. At the end of the paper are the conclusions that have been reached as a result of the analysis of facts and various discussions of consumer behavior in the selection of products for children.

Covid-19 and its Impact on Accounting Implications and Financial Reporting: Kosovo Perspective

Enis Abdurrahmani, University for Business and Technology - UBT

Lipjan, Kosovo

1:30 PM - 3:00 PM

The world today is facing the worst economic crisis since the 2008 financial crisis. So far, all efforts and measures on how to manage this crisis have been insufficient. Today, almost every government in the world has a plan for "economic recovery." The government of Kosovo also has such a plan, although today there are many doubts that this is the right plan to save the economy in country. Purpose of this research is to discuss the impact of the pandemic on accounting implications and financial reporting from the perspective of Kosovo. The research was based on a questionnaire structured according to the Likers scale. The questionnaire was distributed to a selected sample of certified accountants and uncertified accountants. The other purpose of this study was to find significant differences between the opinions of certified and uncertified accountants regarding the impact of the pandemic on financial reporting. Research reveals that Covid-19 will have a significant impact on accounting and financial reporting based on the opinions of certified accountants and uncertified accountants in Kosovo. Also research through applied techniques with SPSS reveals that there is no significant difference in the opinions of certified accountants and uncertified accountants.

Covid-19: The Readiness and Adaptation of Travel Agent to Health Tourism A case study of TUI Destination Experience Thailand Co., LTD

Wiroon Boonon, Dhurakij Pundit University
Ranipa Hongmo, Dhurakij Pundit University
Tanakorn Chandramani, Dhurakij Pundit University
Siwat Kongthing, Dhurakij Pundit University
Kanlaya Swangkong, Dhurakij Pundit University

Lipjan, Kosovo

1:30 PM - 3:00 PM

The objectives of this research were 1) to study the readiness of travel agent to health tourism and 2) to summarize the needs of travel agent for development in health tourism. The methodology used in this qualitative research was phenomenology. The data were collected by using the in-depth interviews with 12 managers of TUI Travel Plc. The verbatim and the content analysis were employed for analyzing and concluding the data. The results indicated that the travel agent possesses a great deal of potential in terms of selling and promoting its health tourism-related travel programs. However, the health tourism-related travel programs still lack of variety particularly in the field of medical tourism. The travel agent also expects its sales agents to improve and extend their knowledge and understanding of the health tourism- related travel programs and the details related in order to provide precise and thorough information to the customers.

Determinant Factors of Human Resource Motivation in Non-Governmental Organizations

Mentor Shaqiri, University for Business and Technology - UBT
Ismajl Mehmeti, University of Applied Sciences-Ferizaj

Lipjan, Kosovo

1:30 PM - 3:00 PM

In modern 21st century society the need for civil society activation is increasingly emerging. Non-Governmental Organizations represent one of the most widespread forms of this mobilization. In the most common format, a non-governmental organization is a voluntary group or institution with a social mission, and independent of the policy-making government and their reference may differ by location of origin. Finding and motivating human resources is being seen as one of the most pressing problems for both NGOs and businesses. For this reason, in this paper we will present the determinants of human resource motivation in non-governmental organizations. Motivation is defined as the impetus or incentive to accomplish certain tasks. In this paper we have analyzed the relationship between financial rewards and other types of reward to motivate human resources in NGOs.

Impact of Strategies in the Development and Growth of Businesses

Labeat Mustafa, University for Business and Technology
Mirjeta Domniku, University for Business and Technology

Lipjan, Kosovo

1:30 PM - 3:00 PM

Strategies represent the actions that need to be taken to meet long-term business objectives. There are several types of strategies that can be used, depending on the objectives of the business. The most common strategies that most organizations can implement are the strategy of growth, contraction, sustainability and combined. Selecting one of these strategies sets the scenario for the entire organization. To be successful in the environment in which they operate, businesses must also be defined for any of the overall competitive strategies (Porter Strategies). To have a competitive advantage in the environment in which they operate, depending on their activities, from the circumstances and their current condition, businesses need to decide on the right strategy, which will enable them to be successful in achieving their goals. The purpose of this paper is to be treated the role and importance of strategies and their impact on the development and growth of businesses in Republic of Kosovo. On this study were used results from quantitative research analyses (quantitative) where data collection was done through questionnaire. Were used describing statistics from Statistic Agency of Kosovo – SAK, Agency for Business Registration of Kosovo – ABRK. Was used theoretical literature of strategic management and literature from papers in various international journals.

International Economic Factors and Crises

Mirjeta Domniku, University for Business and Technology
Lorik Elezkurtaj, University for Business and Technology - UBT

Lipjan, Kosovo

1:30 PM - 3:00 PM

Economics is a topic that initially does not arouse curiosity, in appearance it is a profession which seems very routine, in fact with this paper we will try to prove the opposite, so economics is a topic that grips itself with its magic, it is like nature itself because things happen in it even when we do not pay attention. Economic fluctuations also create social fluctuations which lead to potentially dangerous periods of instability, as a result of which we must analyze each crisis with the utmost care in order to prevent it in the future. After reviewing the literature and analyzing each factor we can conclude that crises created as a result of human actions in most cases can be avoided and avoided if the factors leading to these crises are identified in time. There are some cases when crises cannot be prevented, in cases where crises are the result of situations which are beyond our control, cases of natural disasters or other things which are unavoidable. We have focused on the Great Depression in the US, the financial crises of 2007-2008 and the review of the COVID-19 pandemic.

Operational and Statistical Management in Relation to Determination of Aerodinamic Resistance on Mining Lines

Shaqir Elezaj, University for Business and Technology - UBT

Lipjan, Kosovo

1:30 PM - 3:00 PM

When we talk about the mining works, which are in such a function, so that air currents pass through such aerodynamic lines, then we are dealing with the need to calculate the aerodynamic resistances in such aeration networks. Ventilation systems, in the broadest practical and technical sense, are nothing but a reflection of the aeration plans of the mine as a whole or of its individual parts in an appropriate schematic manner, which includes only those specific works through which it circulates. air, while other works are excluded. The ventilation network does not fully comply with the mining plans, because the air circulation system does not take into account blind works, preparatory works as well as works or other parts of the mine, which are insulated with doors or ambushes. For the purpose of analysis of the aeration system, calculation of aerodynamic resistances, aeration quantities and depressions of the aeration networks can be presented in the following schematic forms: spatial schemes, linear or orientation schemes, canonical schemes, quantitative schemes, potential schemes. Spatial schemes facilitate the general orientation of the way of mining. The spatial scheme also shows the short connections as well as the transport routes where the ambushes with doors are located. In these schemes the breathing and exhalation well must be clearly presented. The key points (nodes) of the network should be marked with consecutive numbers, starting from the breathing well, while the direction of air movement is marked by arrows. As far as possible, spatial schemes should be built according to the following principles: horizontal works should be presented horizontally; dishenders and bremzbergers appear on the slope 60 0 to the horizon; vertical works (wells, blind wells) must be presented vertically; traverbanks are presented with a slope of 30 0 ; lavat (wide working fronts) usually appear as dishendeite. Usually for complicated aeration networks, orientation for the aeration method of the mine only on the basis of the spatial aeration scheme can be difficult. In such cases the problem is greatly simplified through orientation schemes in which not all aeration routes are presented, but only wells, levels, areas of use as well as other characteristic aeration sites (for example, car rooms, explosives, etc.). .). The canonical schemes aim at a clear reflection of the ventilation system in order to facilitate the analysis and all possible calculations. In these schemes are marked the locations of the fans, possibly their depression, the direction (current) of the currents, the fields of use (workshops), the regulating ambushes, as well as other ambushes or ventilation doors and eventually the resistance of the branches as well as the quantities of the air passing through each branch.

Portrayal of Current Business Situation in Kosovo

Arta Abdullahu

Lipjan, Kosovo

1:30 PM - 3:00 PM

The development of new businesses clearly seems to be increasing given that the needs of the market are quite large in addition to what it really is. Businesses, regardless of the type or type to which they belong, are businesses that have their functionality and that they nevertheless have importance in our society. The importance of all this is that the developments the country should appear and be maintained for this Kosovo needs a platform which through a map can display values depending on the filtered attributes. Developing a website using the map of Kosovo and through it can show a lot of results where young people (thus including the gender of business leaders) can have a focus on getting a job or growing a business, including the type of business in the absence of which a city may not possess one. This letter is very useful in conveying many results which can be quite easily read and very interesting data and which a very current topic in our society is. Addressing this letter so that the data generated by the developed system has a direct impact on businesses that are still in the beginning of development or even on those businesses that intend to follow in real time the trends of the most requested type of business.

Specifications of Small Business Management in Serbia

Flutra Jahiu, University for Business and Technology - UBT

Lipjan, Kosovo

1:30 PM - 3:00 PM

The struggle to maintain competition in today's business world is increasingly challenging. This is due to the great dynamics of changes in the market. Maintaining competition in small businesses is even more challenging, because they are significantly more in number, while in capacities significantly less compared to medium and large enterprises. But still small businesses with all the problems they face manage to ensure sustainable business. Adequate business management also plays an important role in the success of a business among various factors, respectively implementation of adequate specifics in business management. Small business managers who are also their owners are required to be innovative in identifying and implementing appropriate enterprise management specifics, which help in sustainable business. This paper aims to identify through scientific research the specifics of management in small businesses in Serbia that implement their managers in order to have a sustainable business. Results of the research will serve as a best practice example for small new businesses.

The impact of Covid 19 on North Macedonian Economy and Government Responses

Blerta Kodri, University for Business and Technology - UBT
Bukurie Imeri Jusufi, University for Business and Technology

Lipjan, Kosovo

1:30 PM - 3:00 PM

Republic of North Macedonia has been under lockdown since 18 March due to the Covid-19 outbreak. An initial state of emergency was declared on 18 March for the entire territory of Republic of North Macedonia, and it was later extended. Since the first recorded case of the coronavirus in February, the number of cases in Republic of North Macedonia has raised continually. In view of the current situation a three-phase plan for the reduction of virus prevention measures was adopted by the Macedonian government. Measures to prevent the spread of Covid-19 have slowed economic activity, which in turn has begun to negatively impact the national budget. The aim of this study is to analyze how much this pandemic situation has affected the main economic sectors and main macroeconomic indicators in North Macedonian economy. In order to analyze changes in this indicators are used comparative statistics methods. This methods findings indicate that Covid 19 crisis has negatives impact on the main macroeconomic indicators in Republic of North Macedonia.

The impact of COVID-19 on Consumer Behavior in Kosovo

Leonita Braha Vokshi, University for Business and Technology
Kaltrina Bunjaku Pasuli, University for Business and Technology

Lipjan, Kosovo

1:30 PM - 3:00 PM

The pandemic COVID -19 profoundly altered the world we know. People live differently, spend differently and think differently in other ways. Supply chains were checked retailers shut doors. Consumers worldwide look at goods and brands through a different lens. Within the space of a few weeks, the virus reshapes the market within real time, accelerating long-term patterns. Consumers, in health and economic terms, are increasingly worried about the effects of COVID-19. People respond in a variety of ways and have different attitudes, behavior and buying habits. Our research shows that the new habits that have now been created will last beyond this crisis, permanently changing what we value; how and where we shop; and how we live and work. As the crisis continues to grow, we should understand what consumer goods companies will do today to make plans for the next situation through the review of the changes now taking place. The main aim of this paper is to measure and analyze the impact COVID-19 on consumer behavior in Kosovo. The research is executed with description research based on quantitative and qualitative methods based on statistical analysis, correlation and OLS regression. The results of this paper shows that pandemic COVID-19 crisis have a significant impact on consumer behavior employees. The highest level of fear in Kosovo is the worry about the health families around 85%, with 81% the impact on the economy, while 78% of consumers revealing they are worried, while 65% exceeding the fear for personal health or job security.

The Impact of Digital Technologies on Business Internationalization Process

Ylber Limani, University for Business and Technology
Zana Bashota Broja, University for Business and Technology - UBT

Lipjan, Kosovo

1:30 PM - 3:00 PM

This paper discusses and analyses the impact of digital technology on business internationalization with focus on a case study of a developing country. There is evidence showing digital technology contributed on the development and advancement of the competitive international market. Accordingly, many companies are considering the change adopts the business model. Businesses lean towards believing that the use of digital technology enables them building the better relationship with customers and suppliers, improving their business process, and in some cases even simulating them in restructuring the entire business industry. In well-established businesses, technology has become the basis of every work in the process. Nonetheless, the situation maybe different in an uncertain business’ environment, specifically with businesses in developing countries. Consequently, this research is quantitatively focused in observing and measuring the impact of digital technology on international business within a developing country. The development of digital technology, types of digital technology, application of digital technology, digital transformation of the supply chain are examined through a quantitative research approach. Nonetheless, the globalization of enterprises and their entry into new markets are challenging the businesses as the global scale factors are putting pressure from increasing competition worldwide. This problem maybe more noticeable among the businesses based in the developing countries. In this respect, it may be questioned whether businesses from these countries can keep competing by using the latest technologies and how they succeed to use these technologies in their international operations.

The Relationship Between Government Debt and Economic Growth in North Macedonia

Amir Imeri, University for Business and Technology - UBT
Gresa Mjaku, University for Business and Technology - UBT

Lipjan, Kosovo

1:30 PM - 3:00 PM

This paper empirically investigates the long run relation between domestic and external general government debt and economic growth in North Macedonia. We analyze how the government debt at a certain point in time is correlated with the GDP growth rate. The study employs a regression model as well as ANOVA test in order to investigate the causal relationship between government debt and GDP growth rate using annual data for the time period 2005 – 2019. We find strong evidence for a significantly positive relation between domestic general government debt and growth and negative relation between external general government debt and growth.

The relative and overall effectiveness of different ALMPs in reducing unemployment. An analysis using Inverse Probability Weighting-Regression Adjustment

Albulena Jahja, University for Business and Technology
Nick Adnett, Staffordshire University
Artane Rizvanolli, Staffordshire University

Lipjan, Kosovo

1:30 PM - 3:00 PM

This paper analyses the relative and overall effectiveness of three active labour market measures implemented in Kosovo: On the Job Training (OJT); Internship Scheme (IS) and Institution and Enterprise Training (IET). This analysis will use two different estimation techniques: Multinomial Probit and Inverse Probability Weighting – Regression Adjustment (IPW-RA). The second estimation technique allows us to extend from the ‘participant vs. non- participant’ analysis of Propensity Score Matching to a multivalued treatment assignment model while utilising an appropriate set of covariates which are available for both treated and control groups. When using observational data ideally the data for the control group should be derived from the same data source. Due to the unavailability of data for a control group from the same data source (UNDP) and in order to assess the overall effectiveness of the active policies, i.e. to assess the effectiveness of each active measure in raising the probability of participants gaining employment compared to that of non-participants, the empirical analysis presented in this study will construct a control group from the Labour Force Survey (LFS) in Kosovo for 2012, the same year as the UNDP data. Therefore the aim of this study is to investigate whether being a participant in one of the three active measures improves the likelihood of gaining employment, and if so gaining an employment contract, compared to being a non-participant.

The Role of Human Resource Competencies in Private Businesses in Kosovo

Mersiha Kačamaković

Lipjan, Kosovo

1:30 PM - 3:00 PM

In today’s economy issues around human resource development are fundamental. Each organization made every effort to recruit knowledgeable people into its ranks. To achieve this, organizations must increase the efficiency and, first of all, the efficiency of knowledge governance. But this knowledge people must acquire, develop and use. Competence in every field has become important in all aspects, because the labor market has become a market of competencies. Competence is a characteristic or feature of an individual, which ensures a high level of quality of work offered by him. Aptitude or competence is the ability to accomplish a task. Effective performance and employee training are essential to the success of a company, to support employees in achieving the best possible results. Employee training in Kosovo enterprises is closely linked to improving organizational performance. As a strategic activity, training is considered one of the main instruments for continuous improvement of competence and as a human resource management strategy in business. From this perspective, the most important role that managers should play is to identify the shortcomings of their employees at the level of competencies, as well as to identify the real training needs, to achieve the necessary competence.

The Role of Risk Management Departments in Banking Institutions

Enver Daci, University for Business and Technology

Lipjan, Kosovo

1:30 PM - 3:00 PM

The topic of risk and risk management is a topic where the interest of academics, field professionals but also ordinary people has increased enormously. When this topic is dealt with in the banking system, the dominant element in the overall financial system of a country, then the interest rate is even higher, especially after the global financial crisis. In the case of the banking system, credit risk is one of the main risks to which the system is exposed. Over the last decades, loans have occupied the main weight among the assets of the banking system. Moreover, in recent years, the quality of the loan portfolio has deteriorated significantly, which is evident from the significant increase in bad loans served (otherwise known as non-performing loans as defined in the Albanian regulatory framework). Another objective of the paper is to identify and evaluate various macroeconomic factors and factors related to the structure of bank assets and liabilities affecting the bad credit indicator. Before interpreting the variables, all the necessary statistical tests have been made and their conclusions analyzed. Further, the impact of these factors is also transferred to the probability of default and the risk index as the credit risk metering for the banking system.

The Typology of Consumers in Kosovo and Motivation

Hamëz Rama, University for Business and Technology
Nurtene Rexhepi

Lipjan, Kosovo

1:30 PM - 3:00 PM

Based on the current situation in the Republic of Kosovo, I consider we are a consuming country, which means that, we are one society that is mainly dependent on consumption, which consumption we supplement it mainly by importing products and services. The market as a whole is quite complex and highly heterogeneous, therefore our objective identify consumer diversity. To understand their requirements and needs, we, through research and scientific methods, must define and divide consumers into their structure, typology and homogenization. Consumers are one of the key elements of the market and are part of the factor and the marketing dimensions. Marketing is so essential that an organization cannot imagine their business without them. Marketing is the starting point of any business,this is how consumers see it. Customer service is important since in any organization or company, customer or assisted directly, which is considered as externahl customer or internal customer, therefore applying marketing methods and concepts, their motivation must be understood for the purchase decision, or non-purchase of products and services. Consumer behavior research focuses on the questions: why people spend their time and their money in such activities, and how can we know them better.

3:15 PM

Analysis of Investments in Financial Markets

Blerina Jashari, University for Business and Technology
Bukurie Imeri Jusufi, University for Business and Technology

Lipjan, Kosovo

3:15 PM - 4:45 PM

Making an investment nowadays poses a risk. This research presents the technical analysis of the prices of the two largest US indexes like NASDAQ and Dow Jones, as well as the largest index of Germany DAX and England FTSE100. From these indices will be taken, as a basis by two joint stocks companies each according to market capitalization. According to the research of the indices in total, will be the 4 largest world indices and the 8 most influential and developing companies in history. A market index is a hypothetical portfolio of investment securities that represent a segment of the financial market. Some indices have value based on Capital Ratio and Income Ratio. In order to register shares or securities on the NASDAQ electronic exchange, a company must meet certain requirements based on finance, liquidity, governance and corporate, and have at least three market makers. The basic purpose of the research is based on stock market analysis, to reach a decision on which is the most suitable asset, the most profitable for investment, the best time to invest, and where financial resources should be used for investment. The methodology used this research as quantitative, where numerical data or time series are obtained from Yahoo Finance, as a research literature from scientific publications and journals and books. Arithmetic means a standard deviation where they used to estimate the central tendency and the distribution of the results, while Spearmen correlation and linear regression were used to find the correlation between the treated variables. Based on the information used by the literature we have reached a conclusion with a financial overview of how the investment decision steps should proceed, which depend on the market direction in the short, medium and long term. According to the correlation, the American index has the strongest correlation with the European company. The standard deviation in the research is realized by comparing the prices of the companies with the indices which participate. According to the standard deviation we can say that Apple and Microsoft in the American index and in the European index the companies Volkswagen and Siemens have the highest market volatility. According to the linear regression, we can conclude the forecast of the movements of the indices, where the NASDAQ index is predicted to have the largest increase with 6%, while the Dow Jones index of 4%. From the European indices, it is predicted that the largest increase will be in the company DAX with 3%, while FTSE100 with 2%. The topic under analysis is useful for potential investors to inform how capital markets work, how it is traded through various platforms so that investors can prepare a portfolio of securities with the highest returns and the lowest risk (risk diversification). Also, since Kosovo does not yet have an Exchange established as an organized securities market, we hope that the information we will present in the paper will be useful to all future users.

COVID-19’s Impact and Implications to Financial System

Armira Fetoshi, Banka për Biznes
Bukurie Imeri Jusufi, University for Business and Technology

Lipjan, Kosovo

3:15 PM - 4:45 PM

The COVID-19 pandemic could be one of the most serious challenges faced by the financial services industry in nearly a century. The impact of COVID-19 on banks has exposed several gaps in business and operating models, fall in demand, lower incomes, production shutdowns - and will adversely affect the business of banks. This report tend to define banks’ response to the COVID-19 crisis, the focus must be on drawing up a strategy built on the three pillars of resilience, value leadership and growth to drive fundamental transformation and future-proof to weather such storms, going forward. To address the COVID-19 impact on banking, overcome challenges created by the crisis, and emerge stronger, financial institutions must craft a strategic response for effectively managing the risk by adopting the appropriate digital technology enablers and innovations underpinned by agile delivery models. Given risk management becomes especially important during a crisis to retain customer trust and ensure financial stability, accurately assessing the COVID-19 impact on risk management in banks is key. Banks must define a strategy covering changes to risk management methodologies, processes, and systems while focusing on the following areas: operational resilience, enterprise stress testing and scenario analysis, cost and efficiency optimization, risk and finance alignment and quantifying financial risk.To determine the impact of COVID 19 to the bank performance we will measure different indicators of banking sector development, with main focus on the expected credit losses ratios as banks are increasing loan loss provisions to face a potential surge in bad loans, increased credit risk defaults and lower recoveries, reduced cash inflows from loan repayment, fair value losses due to increased credit spreads and reduced profit levels. Empirical results will show as how COVID 19 affect banking sector development in Kosovo. The time series from 2015 until June 2020 will be used as a comparison period.

Customer Complaints in the Energy Sector

Shpresa Musliu, University for Business and Technology - UBT

Lipjan, Kosovo

3:15 PM - 4:45 PM

The purpose of this paper concerns the Dispute Settlement Procedures and defending the customers rights in Energy Sector. Public and private authorities should pay attention and determine the procedures to be followed in order to encrease the quality of public services and contributing to economic development growth. The article aims to present that some improvements has been done toward protecting the customers rights in administrative level disputes by responsible authorities. The study aims to present the requirement for changing a few legal and sub – legal provisions in force, which are causing concerns in practice for both institucions and customers. The energy sector faces many challenges, among which is the regular supply of electricity and customer protection. In this regard, it is important to continuously address issues that would contribute to improving the performance of the competent institutions and improving the quality of power supply. Furthermore, the right to appeal is a right guaranteed by legal provisions, so public and private institutions should be careful when dealing with customer complaints, acting in accordance with the main principles of justice.

Financial Statement Analysis: Case study of Kamila LLC (2016-2018)

Fidane Spahija Gjikolli, University for Business and Technology
Hana Gjurgji, University for Business and Technology - UBT

Lipjan, Kosovo

3:15 PM - 4:45 PM

The main source of information for financial analysis is the financial statements. Analyzing financial statements helps in making the best decisions possible by maximizing profit and minimizing costs. This paper analyzes the income statement and balance sheet for the manufacturing company Kamila in Kosovo. A wide variety of techniques can be used to assess the financial viability of an organization. In this paper are included the methodologies of horizontal analysis, vertical analysis and report analysis for three years, respectively for the years 2016, 2017 and 2018. Through the above and comparative analysis over the years, we reach a conclusion by clarifying the status of assets, liabilities, capital and business profits, and answering the research questions of the paper why the business during the three years has had the same sales turnover and different profit and why the company realized higher profit in 2017 and lower profit in 2018. Finally, it is recommended that Kamila LLC will focus on increasing its own production and increasing exports to international markets.

Fiscal Decentralization and the Impact of Disbursing Value Added Tax Income to Local Self- Government Units in the Republic of North Macedonia

Farije Aliu, University for Business and Technology - UBT
Driton Mehmeti, University for Business and Technology - UBT

Lipjan, Kosovo

3:15 PM - 4:45 PM

Decentralized systems give priority to the role of citizens in the government decision-making process, which through various forms, provide better services. This phenomenon motivates policies in the social system, in order to promote democracy, transparency and accountability. With the signing and ratification of the European Charter of Local Self-Government, as well as the signing of the Ohrid Framework Agreement in 2001, the Republic of Northern Macedonia is obliged to amend the Constitution and in accordance with the Constitution to form a legal framework for the decentralization system, which will allow different roles and responsibilities at all levels of government. For the distribution of value added tax revenues, there are criteria set out in the Regulation on the methodology for the distribution of value added tax. The model of public revenue decentralization faces large fiscal disparities or “inequalities”. One of the 'inequalities' is the distribution of value added tax in urban, rural and in the municipalities of Skopje and the city of Skopje. This paper will analyze the progress of the fiscal decentralization process in the Republic of Northern Macedonia, the problems encountered and what are expected to be the most important impacts of territorial administrative reform in the process of fiscal decentralization. Based on what we pointed out above, we hope that this scientific paper will make a significant and useful contribution to other countries in the region as an efficient model of the financial system of local self-government units.

Fokusimi i Platformës së E-Prokurimit në Kosovë

Mirgetë Rama, University for Business and Technology - UBT
Hasan Metin, University for Business and Technology - UBT

Lipjan, Kosovo

3:15 PM - 4:45 PM

The purpose of this research is to analyze public e-procurement in the Republic of Kosovo focusing on the advantages and disadvantages that this process offers to economic operators who have contracts or apply for contracts for the sale of products and services. This research presents research questions on e-procurement and tries to give a focused overview of the state of public e-procurement in the Republic of Kosovo and whether the implementation of e-procurement is bringing the advantages and objectives presented in the procurement strategy of the Republic of Kosovo. To measure this, a survey questionnaire was conducted to collect data from operators who have at least once used the e-procurement service to apply or contract a product or service with the Government of the Republic of Kosovo. To achieve the purpose of the research, a measurement and descriptive research has been designed that aims to answer the questions posed during the paper. The research was conducted using quantitative research methodology. The descriptive design of the research was adopted because it described the phenomena under study in its natural environments. Statistical methods of correlation and linerar regression were also used to analyze the correlation and dependence of the performance variable with other independent variables.According to the correlation analysis, the correlation between performance during procurement and procurement transparency does not exist in economic operators while the correlation between the level of corruption and performance is moderate and the correlation between transparency and corruption is relatively weak.

Influencing Factors on the Ethical Decision Making of Accountants in Kosovo

Fidane Spahija Gjikolli, University for Business and Technology

Lipjan, Kosovo

3:15 PM - 4:45 PM

During the last decade there have been many financial scandals and bankruptcies in the world, such as the most heard, scandals of Enron, WorldCom and Parmalat. This situation made curious many researchers from all over the world. One of the main reasons for these events is the deficiency of ethics during practicing the accounting profession. From these studies it was concluded that the process of ethical decision making of accountants is influenced by three groups of factors: individual, organizational and the dimensions of the moral intensity of the ethical issue. Starting from the contribution of the accounting profession in the economic development and financial stability of a country, then from the importance of ethics during the practice of the accounting profession, this paper aims to identify the factors that affect the ethical decision making of accountants in Kosovo. So, as a dependent variable of the paper is ethical decision making while the independent variables are three groups with thirteen variables. The first group of variables consists of individual factors that include: age, gender, level of education, experience, philosophy of morality. The second group of independent variables consists of organizational factors that include: code of ethics, climate of ethics, business size, industry type and the third group of variables consists of factors of moral intensity dimensions that include: magnitude of consequences, social consensus and speed of occurrence of consequences. The methodology used in the paper has a positive approach with the deductive method, descriptive analysis and linear regression. The model applied in the paper is the Rest Model (1986). The data were collected from questionnaires for certified accountants in Kosovo. The findings show that accountants in Kosovo are sufficiently influenced by organizational factors and the characteristics of the ethical issue. Individual factors have almost no influence on the ethical decision-making process.

Integrated Talent Management- What’s in it for Kosovar Businesses?

Genc Loxha, Raiffesien Bank Kosovo, Prishtina, Kosovo
Nora Sadiku Dushi, University for Business and Technology - UBT

Lipjan, Kosovo

3:15 PM - 4:45 PM

The concept of Talent Management is a new emerging topic in the world of business and academics, one that can largely impact on the business results and on the brand perception of every company. The paper covers how Talent Management (TM) is perceived in the world, what, why and how much do large corporates invest in it. As this concept is not yet well established within business and Human Resource processes in Kosovar companies or even further in the region of Balkan, it can become a competitive advantage to the early pioneers. Nevertheless, with good planning and by linking talent management to the company culture and its strategy, every company could ensure sustainable business results and presence in the market. The study depicts the definition of talent, the importance of implementing Talent Management and some of the main steps required, such are talent identification, development, promotion and compensation. How does Talent Management strategy impact the overall results of the company? Is it worth investing resources in such processes? The paper will highlight whether talent is more related to performance, potential, competence, or commitment? Is talent a natural ability or does it relate more to mastery through practice? The ultimate aim of the paper is to show that harmonised talent management processes shall lead toward a positive company culture where every employee wants to give their best because they believe that performance and potential are recognised and appreciated. Finally, this study will emphasize the importance of Talent Management concept and will provide recommendations for Kosovar companies.

INVESTMENT DECISION ANALYSIS Case study: AAA Company

Ardian Uka, University for Business and Technology - UBT

Lipjan, Kosovo

3:15 PM - 4:45 PM

This assignment presents and hypothetical case regarding financial and investment decisions of the firm. Based on the critical analyses this paper work will identify the best possible project available for investment. The financial data presented on this assignment are done according to the information/data that has been provided, therefore analysing them in order to arrive to the best possible decision for investment. In order to facilitate managerial decisions there has been presented necessary calculations. However, the evaluation and the importance of risk factors have been taken to concern. Furthermore, in order to accomplish this assignment, where on use various relevant books and journals. Therefore, this assignment will present academic and critical analysis. By the end of this assignment, one can be able to understand financial analysis that company should take to concern, the activities has to follow by creative planning and forecasting the future plans in order to re-enforce the decisions on the investment that is about to be made. Author (2006) states: ‘Investment gives to the investor always the benefits on gaining experience but not necessary gaining money, therefore investing gives the experience, and experience is something that money can’t buy, however the investors are investing in increase its wealth. - therefore, the investment decision analysis is taking a great concern on return that the project it (may) returns, or gives an option to later return so current operation is to achieve the future benefits.’

Kosovo as a Strategic Awareness of the EU

Ylber Limani, University for Business and Technology
Erza Ostrogllava, University for Business and Technology - UBT

Lipjan, Kosovo

3:15 PM - 4:45 PM

Is Kosovo a strategic interest of the EU in terms of international policy and entrepreneurship? International business represents all cross-border exchanges of goods, services or resources between two or more nations. These exchanges can go beyond the exchange of money for physical goods including international transfers of other resources, such as people, intellectual property (e.g., patents, copyrights, trademarks and data), and assets or contractual obligations (e.g., the right to use a foreign asset, provide a future service to foreign clients, or execute a complex financial instrument). Entities involved in international business range from large multinational firms with thousands of employees doing business in many countries around the world, since they found the interest of doing that. This broader definition of international business also includes transactions across profitable borders, as well as transactions motivated by non-financial profits (e.g., the triple line, corporate social responsibility, and political favoritism) that affect the future of a business. Kosovo is still not recognized by all EU countries, despite of values or mutual benefits the recognition could offer. The main purpose of this research is to reflect or identify the opportunities that Kosovo offers as a country in terms of entrepreneurship. The aim of this research will be based on the knowledge it will receive from various literature, case studies, and from survey research within the country of Kosovo. The research assumes that that Kosovo has abundant potential to be incorporated into international business. To elaborate this question the research methods used in this paper are approachable qualitative and quantitative. Research is limited to international business and does not take into account other areas, research is limited to the next 5 years in terms of time, and survey research is limited to 5 main cities within Kosovo.

Loans and Effective Interest Rate

Nazmi Misini, University for Business and Technology - UBT
Faton Kabashi, University for Business and Technology

Lipjan, Kosovo

3:15 PM - 4:45 PM

Credit is a type of debt. Like all debt instruments, a loan involves the redistribution of financial resources over time, between a lender and a borrower. With a loan, the borrower initially receives or borrows a sum of money, called principal, from the lender, and is obliged to repay or pay the lender an equal amount of money later. Usually the money is returned in regular installments, with partial returns or in annuities where the installments have much the same. Credit is generally given at a cost, which we call interest on the debt, which is presented as an incentive for the lender to lend. According to the law on a loan, all these obligations and restrictions are defined in the contract, where the borrower can be subject to additional restrictions related to the loan, which are called contractual loan commitments. Interest is the cost that the borrower pays to the lender over a period of time, usually calculated on an annual basis. This amount paid is intended to compensate the lender for the sacrifice he is undertaking in losing the immediate use of his money, for the reduction of the value of money due to inflation during the duration of the loan, and last, for the risk posed by the lending process (e.g. non-payment by the borrower of the amount lent).

Logical Framework Approach and the Way to Conceptualize Project Proposals

Dea Mustafa, University for Business and Technology - UBT
Hasan Metin

Lipjan, Kosovo

3:15 PM - 4:45 PM

In order to have successful projects, companies are using different project management methodologies. Aim of this research is to prove that with implementation of the LFA, projects will have more probability to succeed; failure of the projects will be identified in early stages of the project and products will be delivered with agreed time, quality and cost. Literature used for this research is PMI, OGC, APM and academic journals. Findings from these research show that there is no evidence of proper risk analyze, decisions during project life cycle are ad hock and that there is not any standard in place for project management. Reasons for project failure are very similar with reasons which are identified by PMI. Recommendations which are coming from this research are supporting and justifying implementation of standardized project management methodology and recommended project management methodology. From this research are identified some questions, which are challenging bodies of knowledge and in a same time are offering base for further researchers.

Macroeconomic Stability Objectives

Hasan Metin, University for Business and Technology - UBT
Iliriana Berisha, University for Business and Technology - UBT
Lirim Lani, University for Business and Technology

Lipjan, Kosovo

3:15 PM - 4:45 PM

Macroeconomic stability was and is one of the most important pillars of every country that seeks empowerment such as investments, increasing efficiency, utilizing natural resources, honing human capital etc. one of the main points that helps the economy and its stable growth is the people themselves, especially that of the work force also knowns as Human Capital. This research paper conducted by the above mentioned actors, targets the issue of this very first pillar of the MSO, elaborating the Kosovo Human Capital (workforce), along with the workforce of other countries located within the Western Balkans: Albania, Macedonia, Bosnia and Herzegovina, Montenegro and Serbia. With the help of SPSS, a software package used for statistical analysis, method One-Way Anova, post hoc tests states that there is indeed a difference between compared means. The hypothesis concluded by Anova states that the compared means between Macedonia doesn’t differ from BaH but differs from the other group means, Montenegro doesn’t differ from Albania and Serbia but differs from other group means and Albania doesn’t differ from Serbia but differs from other group means. In conclusion to group the researched and compared means, Serbia, Albania and Montenegro can’t be compared in-between they can be compared with Macedonia and Bosnia and Hercegovina. Macedonia and BaH can’t be compared in-between but can be compared with the first group of means (Serbia, Albania and Montenegro) and the third group means Kosovo, which implies that Kosovo is compared with all group means.

Marketing Targets the Consumer

Nazmi Maksutaj, University for Business and Technology - UBT

Lipjan, Kosovo

3:15 PM - 4:45 PM

The constant growth and pressure of a highly competitive marketing environment puts companies in front of a challenge of consumer recognition and above all the way of decision making to maximize their competitiveness. In a competitive economic system, the growth of the company is related to the knowledge that the company has about their customers: how, why and where they buy exactly what they are buying.Therefore, modern marketing thinking emphasizes the need for managers to know who their customers are and why they choose their products, not those of competing companies.Today, the success of management more than ever depends on aligning all aspects of work - products, promotions, after-sales services and so on - to meet customer needs and this is exactly the essence of a customer- oriented approach presents an integrated approach to doing business. Customer orientation comes from the acceptance and implementation of the marketing concept, the philosophy of organizing a business that highlights four conclusions. In short: 'start with customer demand, what consumers buy, how real they are and what their value is - this is the least that marketing can offer.

Measuring the Size of the Informal Economy in the Republic of Kosovo (2008-2018)

Dea E. Krasniqi, University for Business and Technology - UBT
Enver Krasniqi, University for Business and Technology

Lipjan, Kosovo

3:15 PM - 4:45 PM

The informal economy was always present in the society but it was not studied thoroughly until the 70s. The occurrence of various economic events in the US and Europe at that time pushed scholars to investigate more on the informal activities. Various estimations were conducted in order to measure the size of the informal economy in different countries. Direct and indirect methods were used. Studies were conducted on the Balkans region and other Eastern European countries in transition but up to this date there wasn’t any measurement on the size of the informal economy in Kosovo. This study has attempted to estimate the size of the informal sector in the Republic of Kosovo from 2008-2018, using the Currency Demand Approach. The CDA is used in this study because it is well-documented, theoretically sound and can be easily put in a time-series setting. To measure the long-run relationship between the variables, this study has used vector error correction model (VECM). In addition to the standard explanatory variables that are usually used in the currency demand approach (Currency in circulation, Real GDP, Tax Revenues, normal interest rate) this study included remittances as variables because of their relevance in Kosovo’s economy. The results indicate a decreasing trend of the size of the informal economy in the Republic of Kosovo, although it is still big in size as a proportion of GPD. The results show that the size of the Informal Economy in the Republic of Kosovo from 2008-2018 is an average of 31.7% of the official recorded GDP.

The Impact of Marketing Strategies on the Growth of Voluntary Blood Donors in Kosovo

Melania Gjocaj, Marketing manager at Kosovo’s
Gonxhe Beqiri, University for Business and Technology

Lipjan, Kosovo

3:15 PM - 4:15 PM

There are various marketing strategies used by different countries, including Kosovo, to increase blood reserves in a state level. The aim of this paper is to analyze the impact of marketing incentives, internal and external factors, on increasing the number of voluntary blood donors in Kosovo. For the methodology of the paper, primarily, a comparison between the models in Blood Transfusion Centers in Spain, Germany, and Portugal, was taken into consideration. The model of the National Center for Blood Transfusion in Spain was the most adequate and approximate to be compared as a case study in this research. Therefore, the research of this study was based on analyzing the secondary data, using the comparative method between Spain compared to the country of Kosovo. The data are provided by the archives of the National Center for Blood Transfusion in Kosovo, as well as from online verified resources of the Blood Transfusion Centers in Spain. During the application of these methods, the findings demonstrated the advantages and weaknesses of the performance of marketing department at the two models, related to tasks implementation, organizing actions to collect potential blood donors, keeping the actual blood donors, etc. The findings of this research justify the need to create facilities by providing supportive tools for the use of marketing strategies, which in addition to positively affecting the number of voluntary blood donors, will put Kosovo in a very enviable place in terms of blood reserves.

The Impact of the Covid-19 Pandemic on Business Approach to Digital Technology in Kosovo

Aurora Mustafa, University for Business and Technology - UBT

Lipjan, Kosovo

3:15 PM - 4:45 PM

An uninvited guest arrived in the first quarter of 2020, forcing many organizations to undergo a sudden transformation. This pandemic, which unfortunately still continues, has forced businesses to connect with digital technology like never before. Surprisingly, it was predicted that in 2020, 5 billion individuals and businesses, as well as at least 34 billion devices, would connect to the Internet. Predictors thought that for other reasons this would happen but the pandemic would never be one of the main indicators. Digital technology remained the only salvation of all business operations, where movement and activities were limited and for a time totally banned. Purchase and sale of goods, meetings, collaborations, payment of debts and receipt of money from customers, customer relations, concluding contracts and signatures, were some of the activities that businesses managed to accomplish through digital technology during the pandemic. The research model involves a combination of qualitative and quantitative methods, and is realized by managers of some businesses in Kosovo.

The Importance of Data-Driven Decision Making (DDDM) in Business Performance-Profit

Nehat Dobratiqi, University for Business and Technology

Lipjan, Kosovo

3:15 PM - 4:45 PM

The 21st century is all about data, and companies are constantly improving their internal systems and acquiring better tools that allow them to take advantage of data. They do this on the premise that data improves their business performance, but the research that supports the idea that data-based decision-making improves business performance, does not use a standardized system to measure how much data are used in the decision-making process. Some researchers have worked on this area, but their work measures the perception of how much data are used in the decision-making process and its effect on business performance. Collecting the necessary data, which need to further advance and be more specific, should help create a standard variable as a response to how much data are used in the decision-making process. Having said so, the potential results of this study should be of significant contribution to the existing literature. Ideally, the result from this study would determine how much should the return from investing in data-processing resources. Most importantly, this is an effort to offer an alternative approach in measuring the impact of data in decision-making.

The Role of Personalized Marketing in Business- Customer Relationships

Mirjeta Domniku, University for Business and Technology
Lebeat Mustafa, University for Business and Technology
Ejona Bajraktari, University for Business and Technology - UBT

Lipjan, Kosovo

3:15 PM - 4:45 PM

The idea of personalized marketing lies in creating a unique customer experience and delivering products / services / messages that are relevant to it. The need for it came as every day more and more customers are being targeted by a large number of ads and this has already created so much annoyance for people that they are now trying to avoid them. Modern data sources today are considered to be data collected from smartphones and social networks. Seeing this dilemma what we have tried to understand through this research is whether customers want their shopping experience to be more personalized and whether they are willing to share personal information with companies in return. To achieve a deeper understanding of the research topic and question as well as to test the hypotheses it was decided to use both qualitative and quantitative methods.

Use of the Monte Carlo Model in the Corporate Tax Strategy in Kosovo

Lirim Lani, University for Business and Technology - UBT
Enver Daci, University for Business and Technology - UBT

Lipjan, Kosovo

3:15 PM - 4:45 PM

The paper is oriented towards the use of the mathematical-statistical model, in order for the result of this model to show the right way of tax strategy used by corporations in Kosovo. The main purpose of the research is to select a certain sample of financial items from the financial statements to use the Monte Carlo model, with the main purpose of real research of the tax strategy used by corporations in Kosovo. Avoiding corporate taxes has been a significant public concern, especially since the 2008 global financial crisis. The Monte Carlo model has a 5-10% forecast deviation, which has enabled the company to make earlier securities risk forecasts so that the planning for the fiscal year is accurate.