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ECONOMIC ANNALS
Number 171
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ECONOMIC ANNALS No. 171 ABSTRACTS
Br. Naslov

SCIENTIFIC PAPERS
1.

Nebojša Janićijević

Organisational learning in the theory of organisational change
DOI:

ABSTRACT: In the paper the concept of organisational learning has been presented and placed within the referential frame of the organisational change theory. It seems that organisational change shows to be a wider concept than organisational learning, since every learning includes change, but every change does not necessarily include learning. Organisational learning presents a particular type of organisational change, one which comprises creation and utilisation of knowledge, includes changes of both cognitive structures and behaviours of organisational members, and necessarily is normative by its nature. The referential frame of the theory of organisational change is based on the classification of organisational changes and put together all theories into four perspectives: organisational development, organisational transformation, organisational adaptation and process perspective. It can be concluded that the concept of organisational learning is eclectic one, since it includes all types of organisational changes and encompasses all mentioned perspectives of organisational changes.

KEY WORDS: organisational learning, knowledge management, organisational changes, theory of organisational change

2.

Zorica Mladenović, Pavle Mladenović

Estimation of the value-at-risk parameter: econometric analysis and the extreme value theory approach
DOI:

ABSTRACT: In this paper different aspects of value-at-risk estimation are considered. Daily returns of CISCO, INTEL and NASDAQ stock indices are analyzed for period: September, 1996 – September 2006. Methods that incorporate features of time varying variability and heavy tails of the returns empirical distributions are implemented. The main finding of the paper is that standard econometric methods underestimate the value-at-risk parameter if heavy tails of the empirical distribution are not explicitely taken into account.

KEY WORDS: value-at-risk, conditional variability, GARCH models, extreme values, heavy tailed distributions, the Frechet distribution.

COMMUNICATIONS
3.
Ružica Cvetković

Economic development and direct foreign investment in the transition economies
DOI:

ABSTRACT: The paper deals with the problems related to economic development in Serbia and Southeast-European countries. Comparative analysis has been used for distinguishing typical changes of gross domestic product, foreign direct investment and gross domestic product per capita in Serbia, the countries of Southeast Europe and the Commonwealth of Independent States. The analysis indicates that the levels of both the gross domestic product (GDP) and production in Serbia and other countries are currently lower than in 1989, the year generally taken as the beginning of the process of transition from centrally planned to market economies.

KEY WORDS: foreign direct investment, economic development, gross domestic product, gross national product per capita, investment.

4.

Slađana Starčević

Possibilities for application of comparative advertising and its effects
DOI:

ABSTRACT: In recent years, it has been evident that one form of competitive advertising gained in its importance – comparative advertising. Although its extensive use has probably been inspired by the belief that the perception of relative superiority of a brand compared to competition could be encouraged in that way, research evidence suggested mixed conclusions about its effectiveness. The paper summarizes the results of previous studies in this area,and in particular those which point out the factors that can influence effectiveness of comparative advertising. Additionally,, the paper summarizes the opinions of some authors about the long-term influence of this form of advertising on brand, and gives the recommendations for its more effective use.

KEY WORDS: comparative advertising, competition, consumer, influential factors, attitudes

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