Branimir Kalaš

Branimir Kalaš
University of Novi Sad, Faculty of Economics in Subotica · Financial and Banking Management

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77
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504
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Publications

Publications (77)
Article
Full-text available
Banks are one of the essential institutions in the financial systems worldwide, whereby profitability is the ultimate goal for banks’ business. To provide success, bank management should create an attractive market portfolio that will continuosly generate profit. However, banks have to support eco-friendly initiatives and projects and try to implem...
Article
Recommendations to consider service quality as a hierarchical construct formed by its dimensions (and not reflected through them) have existed in academic literature for more than two decades, and arose simultaneously with the conclusion that even in the most valued marketing journals, the problem of model misspecification was present to a large ex...
Article
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The issue of non-performing loans (NPLs) in a bank’s portfolio is important for a bank’s stability and sustainability. Their increased presence indicates a potential worsening of the economy and a lower quality of the bank’s assets. We estimated determinants of non-performing loans in the Eurozone for quarterly data 2015–2020. The results confirmed...
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Although corporate social responsibility (CSR) can be examined from the point of view of the fundamental philosophy of business and society, many companies focus solely on profit. The main goal of this research is the investigation of the relationship between CSR and organizational financial performance, and the role of customer satisfaction in the...
Article
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The topic of environmental taxation is becoming increasingly significant, particularly in its role in promoting sustainable development. Environmental tax policy can be used as an active tool for improving environmental quality and economic development. The primary aim of the study is to detect which environmental tax revenues influence the economi...
Article
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The study aims to identify which main macroeconomic determinants affect investment in a circular economy. The main purpose of the investment determinants in a circular economy is to determine how macroeconomic determinants such as real GDP per capita, government expenditure, unemployment, inflation, tax revenue, and interest rate affect an investme...
Article
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This article provides panel data estimations of the tax revenue determinants in VG (Visegrad Group) countries (the Czech Republic, Hungary, Poland, and Slovakia) for the period 1994–2023. The aim of this research was to determine how the macroeconomic determinants affect the tax revenues in the selected countries. Within the static models, the Haus...
Conference Paper
Shocks that cause uncertainty also inevitably have an impact on financial markets, in addition to the typical range of economic and financial considerations. Previous research shows that recent events like the COVID-19 pandemic, changes in oil prices, and the Russian-Ukrainian conflict have had an impact on the world financial market. The aim of th...
Article
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The analysis of students’ attitudes and perceptions represents a basis for enhancing different types of activities, including teaching, learning, assessment, etc. Emphasis might be placed on the implementation of modern procedures and technologies, which play an important role in the process of digital transformation. Among them is artificial intel...
Article
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The aim of this study is to analyze which factors affect the profitability of banks in the eurozone and to make recommendations for supporting them to achieve higher levels of profitability in particular eurozone countries. The banks operating in the eurozone are specific that they are under one monetary policy. The main purpose of the banks’ profi...
Article
The aim of the research paper is to highlight the importance of macroeconomic framework to banking sector stability, as well as determine how selected macro determinants influence bank liquidity. The paper analyzes the influence of macroeconomic determinants on bank liquidity in Serbia from 2008 to 2022. Employing OLS model, the research discovered...
Chapter
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Tourism represents one of the most rapidly growing sectors in the world. This study aims to identify the effect of tourism indicators on the unem­ployment rate. The subject of the study implies evaluating the effect of inter­national tourism revenues and international tourism arrivals on unemploy­ment in selected Balkan countries (Albania, Bosnia a...
Article
Renewable energy plays a vital role in achieving sustainable growth that entails economic development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs. The study analyzes the relationship between renewable energy consumption and economic growth in Serbia for the period of...
Conference Paper
U poslednjih par godina, finansijska tržišta širom sveta bila su izložena egzogenim šokovima poputpandemije Covid-19 i ratnog sukoba u Ukrajini. Pove?ana volatilnost na svetskim finansijskim tržištima uticala je nave?u svest u?esnika na tržištu sa aspekta merenja, predvi?anja i zaštite od posledica tržišne nestabilnosti. Cilj rada jeutvr?ivanje zna...
Article
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Indebtedness and its level are one of the most important indicators of the healthy operation of every company. In this study, the authors deal with the analysis of the influence of certain selected internal factors on the level of indebtedness of agricultural enterprises in Serbia. Only large agricultural enterprises were taken as a sample, and the...
Article
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Citation: Radovanov, B.; Milenković, N.; Kalaš, B.; Horvat, A.M. Do the Same Determinants Affect Banks' Profitability and Liquidity? Evidence from West Balkan Countries Using a Panel Data Regression Analysis. Mathematics 2023, 11, 4072. https:// Abstract: This study aims to determine whether the same bank-specific and macroeconomic determinants aff...
Article
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Tax revenue performance represents one of the most essential issues to every government when creating and profiling fiscal policy according to the macroeconomic framework of each country. In particular, this issue comes to the fore in extraordinary circumstances and unstable trends when governments are exposed to greater costs of financing budget d...
Article
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Policymakers should create a favourable macroeconomic framework to provide positive implications on public revenue collection. It implies designing a fiscal policy in the direction of generating the necessary revenues in order to achieve budget stability. Accordingly, identifying determinants that are crucial to generating higher revenues is an imp...
Article
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Value added tax represents one of the main tax forms, because it generates the most revenue and greatly contributes to the budgets of many countries. The purpose of this paper is to determine the VAT efficiency level in Visegrad Group countries (Czechia, Hungary, Poland and Slovakia) for the period between 1995 and 2020. The average VAT efficiency...
Article
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Banks represent important subjects in business, with dominant positions in the financial system in the world. Banks developed various financial products and services that can cover most market needs. As a result of adequate portfolio diversifications, banks recorded positive profitability rates. In addition to being adjusted to competition, banks s...
Article
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The positive effects of e-bikes on physical activity, health, and the environment have been confirmed in many studies. Their choice, as well as of cycling in general, was previously considered from, among others, the socio-psychological aspect (often by use of the theory of planned behavior (TPB)) or the financial aspect (in the context of financia...
Article
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The relevance of value added tax is reflected in the generation of a significant amount of revenue and the suppression of tax evasion. The purpose of the research is aimed at assessing collected revenues and measuring the efficiency of VAT revenue collection in the Benelux countries (Belgium, the Netherlands and Luxembourg) for the period 2011-2020...
Article
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Government expenditures represent one of the most important issues for policymakers both in ordinary and extraordinary conditions. The aim of this paper is to estimate and identify the effects of selected macroeconomic determinants on government expenditures in Serbia from 2002 to 2020. Using the ARDL technique, the empirical findings confirmed tha...
Article
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Air pollution is a challenge faced by a large number of both developed and developing countries. Its consequences are particularly visible in urban areas, where the concentration of cars is the highest. In order to reduce the level of air pollution, one of the steps that should be taken, relates to the greater use of environmentally-friendly modes...
Article
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Within the increased concern for environmental protection, an important aspect is related to renewable energy not only because of the potential for carbon emission reductions but also because of energy security. Relying on renewable energy sources can be a basis for less dependence of the economy on limited energy sources, especially when consideri...
Article
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The financial systems of the West Balkan countries are mainly based on banks. For an efficient financial system, it is of immense importance that the banks operating in it do so with high levels of efficiency. Furthermore, efficiency is needed when it comes to involving banking institutions in the financial flows in order to maintain sustainability...
Article
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The paper analyzes tax elasticity in the Republic of Serbia in terms of tax revenues, personal income tax, corporate income tax, value added tax, social security contributions and excises for the period 2005-2019. Tax elasticity manifest sensitivity of tax forms to a change in the gross domestic product, where results have shown that indirect taxes...
Article
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The article researches the direct tax effect on investment share in thirty-five OECD countries for the period from 1996 to 2016 year. The goal of this research is to determine how direct taxes influence on investment level measured by the share in the gross domestic product. The empirical analysis enables the implementation of fundamental econometr...
Article
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Since the beginning of the application of the Data Envelopment Analysis (DEA) model in various areas of the economy, it has found its wide application in the field of finance, more specifically banks, in the last few years. The focus of this research was to determine the sustainability of the intermediate function of banks, especially in recent yea...
Article
Tourism plays an increasingly important role in the economic flows of each country. Recognizing the tourist potential of AP Vojvodina is an important task for the creators of the economic policy of our country. In order to make a favourable tourism environment with quality tourist content and products, it is necessary for tourist entities to operat...
Article
Background: The paper examines banking service quality perceived by students as a basis for determining implications for green services. The focus was on this market segment bearing in mind its potential effects on banks' long-term profitability and students' acquaintance with environmental issues. The attention was dedicated to the green banking c...
Article
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Wine tourism has a great potential in the agro-industrial sector of Serbia and must be intensively developed in order to provide positive local and regional effects on the economy. The proper development of wine sector will have positive effects on economic flows. The positive implications will be manifested in generating of income from the sale ma...
Article
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The paper investigates the relationship between tax wedge and employment rate in thirty-six OECD countries for the period 2000-2020. The aim of this paper is to identify how tax wedge indicators affect the employment level in these economies. The empirical research includes correlation analysis and panel regression to determine character and intens...
Chapter
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The importance of the tourism sector is manifested in the fact that this sector is one of the fastest-growing sectors worldwide. This re- search aims to determine the impact of tourism indicators on the macro- economic and fiscal framework. The subject of the paper includes estimating the effect of international tourism arrivals and international t...
Article
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The issue of security and safety i s a fundamental condition for stable economic trends. Military expenditure can be a very powerful tool for a rapid economic growth. The paper examines the long-run relationship between military expenditure and economic growth in the selected Balkan countries, such as Albania, Bosnia and Herzegovina, Croatia, Monte...
Article
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This paper examines the relationship between total environmental taxes and economic growth for twenty-eight EU countries from 1994 to 2018. The aim of this research is to evaluate the long-run relationship between these variables based on panel data analysis. The analysis includes panel unit root test, panel cointegration test, panel ordinary least...
Article
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The purpose of this paper is to investigate the impact of macroeconomic variables on bank profitability indicators in Central and Southeastern European countries (CESE). The research sample includes 13 countries of CESE countries: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Macedonia, Montenegro, Poland, Romania...
Article
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Excises are one of the most generous taxes in the Republic of Serbia and this tax form should be determined at adequately level in order to provide positive effect on the economy. The aim of this paper is to investigate the relationship between excises and fiscal balance in the Republic of Serbia for the period 2008-2019. Empirical research include...
Article
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The issue of achieved tax revenues in important for every country, especially today in the conditions of the current COVID-19 pandemic. The negative effects of coronavirus are reflected in increased health and economic risk which is manifested in the deterioration of the macroeconomic framework in the world. The aim of this paper is to point out th...
Chapter
The tourism sector represents one of the most essential segments of the world economy. This paper aims to identify the effects of tourism indicators on economic growth in terms of tourism share, international tourism arrivals and tourism employment. The subject of the paper is evaluating the impact of the tourism sector on economic growth in select...
Chapter
Tourism is one of the most important sectors in the world and it has multiplier effects due to indirect implications to a wide variety of small, service-oriented businesses. This paper aims to determine the effects of the tourism sector on economic growth in terms of tourism share, international tourism receipts and international tourism arrivals....
Article
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Based on a theoretical review of investment models through full and partial ownership, the aim of the paper is to provide an examination of factors that influence to the choice of investment model in six transition countries from region provide recommendations that which investment models would be appropriate between observed countries. Using a mul...
Article
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The global economic crisis destabilised the public debt of many countries. The purpose of this paper is to investigate the predictors of public debt in European Union countries divided into non-member countries and members of the European Monetary Union in the period from 2001 to 2018. The aim is to discover their relationship with public debt and...
Article
The degree of tax burden in the economy is a significant issue for every country. The state and fiscal authorities should provide a stimulating but sustainable tax environment that will cause positive implications for economic growth and development. The aim of this paper is to determine the degree of tax burden from the aspect of direct taxes and...
Article
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The level of tax revenue represents one of the most important issues for every country, especially in extraordinary circumstances. The aim of this paper is to identify which macroeconomic determinants are important to total tax revenue in order to determine which variables are the key generators of tax revenue collection. The subject of this resear...
Article
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This research examines the relationship between indirect taxes and gross domestic product per capita in the Republic of Serbia from 2005 to 2019. The aim of this paper is to evaluate the long-run relationship between value added tax, excises and gross domestic product per capita based on Johansen cointegration test. The empirical analysis includes...
Article
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The study provides an empirical analysis of tax impact on selected macroeconomic aggregates in Spain from 1996 to 2016. The objective of this research is to determine how tax forms effect on macroeconomic framework of Spanish economy. The analysis includes the impact of direct taxes such as personal income tax, corporate income tax and tax on prope...
Article
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Our goal is to reflect how the gross domestic product, unemployment, real interest rate, savings, government expenditures and value-added tax effect on inflation in selected Balkan countries for period 2008-2016. Research examines the impact of macroeconomic determinants on price movements in the general level, measured by the annual rate of inflat...
Article
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The purpose of this article is to determine the level of competitiveness of agri-food products in South East European (SEE) countries within the processes of European Union (EU) and regional integration as well as to find the factors that determine agri-food competitiveness. This article uses the revealed comparative advantages (RCAs) index to find...
Article
The measurement of agricultural companies in terms of profitability and indebtedness enables a real determination of role and position of these companies in the agricultural sector in AP Vojvodina. The aim of the paper is to show the presence or absence of significant difference in the performance level of agricultural companies from the aspect of...
Article
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The aim of the paper is to identify a potential linear correlation between direct taxes and economic growth. The subject of the paper includes estimating the level and intensity of correlation between direct taxes and economic growth in OECD countries for the period 1996-2016. The study analyses tax forms such as personal income tax, corporate inco...
Article
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The aim of the paper is testing the difference between the market share of three leading acquired chains and the three leading domestic trading chains in Serbia, as well as the analysis of performance between these two groups of trading chains in the period 2011-2015. Performance of trading chains is measured by profitability, liquidity and leverag...
Article
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The research paper provides an empirical evaluation of the tax effects on economic growth in 35 OECD countries from 1996 to 2016. The objective of this paper is to find how taxes effect on the economy, where analysis involves gross domestic product as a proxy for economic growth. Ensuring fundamental econometric procedures, the research paper refle...
Article
The aim of paper is to investigate the impact of factors on the profitability of medium and large agricultural sector. The analysis includes three models of multiple regression where return on assets as the main performance determinant is defined as a dependent variable. Models examines the impact of company size, liquidity, debt, market share, sal...
Article
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Modern business conditions are characterized by corporate governance that imposes the need for constant growth and development of the company. In such circumstances, it is necessary to measure the achievements of the company in the realization of the set of goals, among which is highlighted the effective financial performance and maximization of re...
Article
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This study presents an empirical analysis of taxes and economic growth in Serbia and Croatia in the period 2007-2016. In order to identify the impact of tax forms on economic growth and their relationship, the authors decided to set up a panel regression where gross domestic product is the dependent variable, while corporate income tax, value added...
Article
The aim of the paper is to look at the impact of takeover processes on the profitability of banks by analyzing periods prior to and after the takeover, as well as the factors that influenced the movement of banks’ profitability. In 2001 there were 86 banks operating in the Serbian market, in 2003 that number was 49, whereas today there are 30 banks...
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In a research paper, the authors provide an empirical approach to taxes and economic growth in the United States in the period 1996-2016. The basic goal is to explore how taxes affect economic growth. The subject of the research is measuring the effects of tax revenue growth and tax form as a personal income tax, corporate income tax and social sec...
Article
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Monetary policy is an important segment of the economic policy of each country where inflation and monetary aggregates represent its significant components. Their movement reflects the trends in the volume of money and the price level which is of great relevance for the economic situation in the country. The aim of the paper is to manifest the impa...
Article
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The aim of the paper is to show the relevance of nexus between tax forms and economic growth and how they affect on gross domestic product in Serbia for the period 2006-2015. The impact is manifested through the analysis of three main tax forms: personal income tax (PIT), corporate income tax (CIT) and value-added tax (VAT) and their effect on the...
Article
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Takeover processes imply integration of different organizational cultures, especially in case of crossborder takeovers. Using a survey questionnaire, authors conducted a research to examine the changes and satisfaction with all interest groups in taken over companies operating in fields of food industry, retail sector and financial activity in the...
Article
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In modern public finance, public expenditure is becoming one of the crucial issues. Public expenditures represent funds which are necessary to finance public needs. The process of determining their optimal level presents a permanent problem for all countries in the global economy. On the one hand, they have to be sufficient to cover all the public...
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The aim of this paper is to identify determinants of liquidity of commercial banks in the Republic of Serbia, observing the macroeconomic and banking-specific indicators, or micro-economic indicators which were analyzed by descriptive statistics, correlation and regression analysis from 2008 to 2014. The correlation for the observed variables is ca...