Ivan Đekić

Proceedings Book from Third International Scientific Conference "Challenges of Digitalization in the Green Economy"

Impact of Digital Transformation on Green Growth in European Union Countries

Đekić, I.; Madžar, L.; Đurić, Z.

https://alfa.edu.rs/izdavacka_delatnost/

A green economy is an economy that results in improved human well-being and social justice, while significantly reducing environmental risks and damage to the environment. The aim of this paper is to empirically assess the impact of digital transformation on green growth in European Union countries. The article conducts correlation and regression analysis of cross-sectional data on a sample of twenty-six European Union countries in 2022. The measure of green growth is the Green Growth Index (GGI), published by the Global Green Growth Institute. The measure of digital transformation is the Digital Competitiveness Ranking score of the International Institute for Management Development (IMD). The research results show that digital transformation in the observed European Union countries has a positive impact on green growth.

green growth; digital transformation; green economy; European Union; regression analysis

M33

Proceedings Book from Third International Scientific Conference "Challenges of Digitalization in the Green Economy"

Application of Green Technological Innovations in the World and Serbia

Madžar, L.; Đekić, I.; Simić, M.

https://alfa.edu.rs/izdavacka_delatnost/

Technological innovation is defined as the process of introducing new or improving existing technologies with the aim of creating a new or significantly improved product, service, or process, implying the application of scientific or technical knowledge in the generation of innovative solutions that increase productivity and efficiency, create added value, encourage economic growth and competitiveness, bring new business opportunities, and enable greater adaptability to market changes. As a kind of mix of creative ideas, research and development (R&D) activities, technological innovations play a key role in the development of modern society, economy, and industries. Their special dimension consists of green technological innovations that rely on the development and application of technologies aimed at minimizing the negative effects of people’s activities on the environment and wider society. Green technological innovations are sustainable by their nature, which is why they are already widely used in the green transition process. In addition to a detailed analysis of the concept and effects of technological innovations and their connection with the UN’s Sustainable Development Goals (SDGs), this article also provides an overview of the most important technological innovations that are widely used in the world and in Serbia. Unlike the countries of the European Union (EU) and the region of Southeast Europe (SEE), which are more focused on digital and green technological innovations, recycling and various circular solutions are applied to a greater extent in Serbia, while smart and digital solutions are used to a much lesser extent. The article concludes that these innovations have enormous importance for the economy of Serbia, especially in the context of its sustainable growth and development, environmental protection, and harmonization with EU standards, but that their ultimate success still depends on the achieved synergy between the state, policy makers, the private sector, the academic community, and the citizens themselves.

technological innovations; sustainable development; green transition; green innovations; energy savings; pollution; renewable energy sources; GHG emissions

M33

Konkurentnost preduzeća i privrede

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Đekić, I.

https://alfa.edu.rs/izdavacka_delatnost/

Udžbenik je nastao sa namerom da se njegovim čitaocima predstave i razjasne ključni pojmovi, aspekti i odnosi u oblasti konkurentnosti, kako na nivou preduzeća, tako i na nivou nacionalne privrede. U knjizi se na jasan, sistematičan i razumljiv način obrađuju koncept konkurentnosti, teorijske osnove konkurentnosti, različite vrste konkurentnosti, metode merenja i ključni faktori koji utiču na njeno oblikovanje i promene. Posebna pažnja posvećena je razumevanju konkurentnosti preduzeća, izgradnji konkurentske prednosti, kao i ulozi znanja, inovacija i kvaliteta u savremenom poslovanju. Takođe, razmatra se konkurentnost nacionalne privrede, uključujući uticaj međunarodne trgovine i stranih direktnih investicija, uz objašnjenje uloge i značaja politike konkurentnosti.

privreda; konkurentnost; preduzeća; konkurencija

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REVIZOR – Journal of Organizational Management, Finance and Auditing

Auditing Risk in Conditions of Economic Instability: New Approaches to Risk Assessment and Management

Joksimović, M.; Đurić, Z.; Đekić, I.

https://casopisrevizor.rs/index.php/revizor/article/view/248/234

Economic instability, characterized by inflationary pressures, market volatility, supply chain disruptions, and increased bankruptcy risks, significantly affects the reliability of financial reporting and elevates auditors’ exposure to various types of audit risk. The aim of this paper is to examine how contemporary auditors assess and manage audit risk under heightened economic uncertainty, as well as to identify new methodological approaches that enhance the quality of audit procedures. Special attention is given to the integration of advanced analytical techniques, data-driven risk assessment models, scenario analysis, and evaluations of organizational resilience to macroeconomic shocks. The paper also explores the role of internal controls, regulatory requirements, and professional skepticism in mitigating inherent, control, and detection risk. The research findings indicate that the application of digital tools, forensic procedures, and dynamic risk assessment models significantly contributes to more effective management of audit risk during periods of economic instability. The conclusion emphasizes the need for continuous development of auditing methodologies, improvement of professional competencies, and strengthening of the institutional framework in order to ensure a higher level of reliability in audit opinions under unstable economic conditions.

audit risk; economic instability; financial reporting reliability; professional skepticism; internal controls; digital auditing tools; forensic procedures; risk assessment models; scenario analysis; macroeconomic shocks

M52

Economics of Agriculture

Panel Data Analysis of the Impact of Agricultural Indicators on Economic Development Aspects: The Experience from the BRICS Countries

Madžar, L.; Đekić, I.; Đurić, Z.

https://www.ea.bg.ac.rs/index.php/EA/article/view/2536/1839

The aim of this paper is to empirically assess the influence of the most significant agricultural measures on basic economic indicators in the original BRICS countries (Brazil, Russia, India, China, and South Africa), as well as to offer reasonable explanations for the nature of the established relations. For this purpose, two models were built: (a) the Period Random Effects Model that traces their influence on GDP growth rate, and (b) the Two-way Random Effects Model that assesses their influence on average income in BRICS nations. The paper determined mostly negative and statistically significant relations between mere agricultural measures and economic indicators, pointing to the conclusion that these countries are burdened by problems of low agricultural productivity, poor technological progress, and low value added in their agriculture, as well as to the need for the implementation of more serious institutional, land, production, education, infrastructural, and other reforms.

BRICS; GDP growth rate; average income; Random Effects Models; agricultural productivity; agricultural indicators

M23

Ekonomika

Assessment of Sustainable Development in Selected Countries of Southeast Europe

Madžar, L.; Peković, D.; Đekić, I.

http://www.ekonomika.org.rs/sr/PDF/ekonomika/2025/Ekonomika-2-2025.pdf

The purpose of this article is to examine the possibilities of sustainable development, as well as to assess the impact of certain environmental predictors on the real GDP increase of eight selected countries of Southeast Europe (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Greece, North Macedonia, Romania, and Serbia) in the period from 2001 to 2020. Using the Least Squares Dummy Variable (LSDV) panel data method, the article shows that, from the aspect of access to safely managed sanitation services, use of renewables, and harmful CO2 emissions, economic development in these countries is not sustainable enough. At the same time, it is sustainable only from the perspective of agricultural methane emissions. Bearing this in mind, economic policy makers from these countries should work more intensively on intra-regional cooperation, as well as on complying with the recommendations from the SEE 2030 Strategy in guiding their countries towards sustainable development pathways.

sustainable development; Least Squares Dummy Variable (LSDV) approach; Southeast Europe (SEE); CO2 emissions; environmental indicators

M51

TEME – Journal of Social Sciences

Economic Activity and Intensity of Competition in Post-socialist Countries: A Panel Analysis

Đekić, I.; Madžar, L.; Krstić, M.

https://teme.junis.ni.ac.rs/index.php/TEME/issue/viewIssue/61/20

The intensity of competition figures as an important factor in increasing economic activity. The intensification of market competition is one of the key goals of economic policy in post-socialist countries. The aim of this paper is to determine the contribution of the intensity of competition to the level of economic activity in these countries. In this article, a panel analysis is carried out on a sample of 22 post-socialist countries for the period between 2006 and 2019. The indicator of the intensity of local competition from the Global Competitiveness Index of the World Economic Forum is taken as a measure of the intensity of competition. The results of the conducted research indicate that the increase in the intensity of competition has a positive effect on economic activity, expressed by the level of gross domestic product (GDP) in the selected post-socialist countries.

gross domestic product (GDP); economic activity; intensity of competition; post-socialist countries; panel data

M23

Proceedings Book from Second International Scientific Conference "Challenges of Digitalization in the Business World"

Digital Transformation and the Economy of Serbia

Đekić, I.; Đurić, Z.; Simić, M.

https://alfa.edu.rs/izdavacka_delatnost/

Digital transformation radically changes the basic assumptions of the functioning of modern society and the economy. The intensive growth of the scope of digital technologies in the last decade has led to structural changes in the economic activities of numerous countries in the world. Digital technologies enable companies to gain a competitive advantage, improve their products and services, and expand their markets. It has become very important for countries around the world to plan and successfully lead digital transformation in order to maintain the competitiveness of their economies and improve the living standards of their populations. The process of digital transformation leads to numerous problems and challenges in the world and in Serbia, which require research and answers. The authors examine the digital transformation of the economy of Serbia. The paper considers and analyzes the challenges of digital transformation faced by the domestic economy. The aim of the paper is to determine the state of the domestic digital economy and identify the problems that stand in the way of a successful digital transformation in Serbia. In particular, the position of the domestic digital economy in relation to Europe is analyzed. The authors suggest the main directions for the digital transformation of the economy of Serbia.

digital transformation; digital economy; digitalization; information and communication technologies; Serbia

M33

Proceedings Book from Second International Scientific Conference "Challenges of Digitalization in the Business World"

Advantages and Challenges of Managing Marketing and Marketing Communication in the Business Practice of Companies in the Era of Digital Transformation

Đurić, Z.; Đekić, I.; Ilić, B.

https://alfa.edu.rs/izdavacka_delatnost/

The extremely rapid development and spread of information and communication technologies (ICT), internet users, online communication worldwide, and global competition have forced companies to put marketing at the center of their business in order to launch more active sales and strengthen their online presence in the market, thereby emerging a new field of marketing: digital marketing. Digital marketing and marketing communication represent a complex business process with numerous aspects and online activities, which requires a holistic and integrated approach to all traditional and digital marketing efforts and other operational functions of the company, as well as efficient management of the entire process. It offers great opportunities for companies in boosting sales, increasing profits, and improving business success. On the other hand, digital transformation has brought numerous challenges to companies in managing business and digital marketing activities, along with the need for the application of technological innovations and permanent adaptation to new business conditions and customer demands. The aim of this research is to analyze the aspects of marketing and marketing communication in companies in the era of digital transformation, i.e. digital marketing, through relevant literature and to provide insight into the advantages and challenges in managing these processes in business practice, emphasizing their importance for any company as a key field in achieving competitive advantage and business success.

digital marketing; marketing communication; company; managing; technology

M33

Glasnik za društvene nauke

Savremeni marketing i marketinška komunikacija u preduzećima i upravljanje u eri digitalizacije

Đurić, Z.; Ilić, B.; Đekić, I.

https://www.gdn.rs/index.php/GDN/article/view/108/66

Today, the business environment is characterized by extremely rapid changes, accompanied by intensive technological development and globalization, which has created very complex conditions for businesses, strong competition, as well as the dominant influence of customers and rapid changes in their preferences. Such conditions forced marketing and marketing communication to take a primary place in a company’s operations. The importance of marketing is reflected in the fact that companies can respond properly to increasing challenges and market demands, improve their competitiveness on the market, and achieve better sales and more successful business performance. On the other hand, the intensive development of information technologies, accompanied by a huge growth in internet users, as well as digitalization processes in companies, has influenced the development and growth of the importance of digital marketing and more complex requirements in business management. Therefore, the permanent application of innovations, digitalization, and digital marketing, as well as the necessity of efficient management of these processes, has become an indispensable part of company operations. The aim of this research is to analyze the aspects of contemporary business in the era of digitalization in the field of marketing and marketing communication, as well as digital marketing in companies, through the analysis of relevant literature, and to provide insight into their importance and the role of effective management, since they represent a key determinant for achieving better competitiveness on the market and successful business operations in today’s turbulent business environment.

marketing; marketing communication; digital marketing; management

M53