In this paper the authors examine the determinants of NPL ratio using a cross-county analysis from the sample of 25 emerging countries. Using the panel data approach, determinants of NPL are analysed for the period from 2000 to 2011. The main aim of this paper is to draw a relevant econometric model, to demonstrate the impact of independent variables on the dependent variable by using static and dynamic model estimation techniques. The results show that NPLs rate can be mainly explained by crucial macroeconomic factors, such as the GDP and inflation rate, and bank-specific factors, such as ROA, CAP and lagged NPLs rate.

h i g h l i g h t s • To point out the theoretical advantages of GMM in relation to other (often used) panel data estimators. • To demonstrate its advantages in the case of the emerging markets in the countries of Latin America. • To identify a relevant econometric model. • To demonstrate the impact of crucial macro and microeconomic variables on the NPLs.

The research within this paper is motivated by the opinion that different organizational factors in primary education can have a stronger or weaker impact on the quality of the learning outcome. Organizational factors, criteria analyzed in this paper, are school management, school infrastructure, students’ foreknowledge, teacher competencies, curriculum content, student motivation, and the quality of the teaching process. Using SWARA (Step-wise Weight Assessment Ratio Analysis) method of multi-criteria decision-making, the answers of elementary school principals, members of the panel of experts, were processed. The calculation within this method was performed using fuzzy numbers to ensure the reliability of expert evaluations. The results of the applied method, in the form of weighting coefficients of the criteria, indicate that school management has an influence on the selection and building of teachers’ competencies while the given competence can indirectly affect the overall success of students through the establishment of an adequate school infrastructure, which affects the knowledge quality. Knowing the factor that has the highest impact enables principals to manage this factor and contribute to enhancing the knowledge quality. This research contributes to raising awareness of the importance of particular organizational factors in elementary education and the need to improve them.

In the flexo printing process, flexible food packaging materials are exposed to various effects (solvents, temperature, transport devices, etc.), that impact the quality of food packaging materials. Although, literature is available on the impact of these factors on the quality of food packaging, there are very few papers examining the impact of the flexo printing process on food packaging materials. Therefore, the aim of this paper is to examine if there are any changes occurring in tensile strength, elongation before tearing and gas permeability after the flexographic printing process regarding the selected flexible packaging materials -oriented polypropylene (OPP) and coated paper/polyethylene (PAP/PE). The measurement of tensile strength and elongation before tearing was carried out according to SRPS G.S2.734, and the measurement of gas permeability according to Lussy Method -DIN 53380. The results presented in this paper show that the tensile strength and elongation in both foil samples increased after the printing process (a higher increase of strength is determined in the PAP/PE foil). The exception is the PAP/PE sample, where increased permeability of N2 was observed. The reason for such results could be due to different surface characteristics of the tested materials since the process of ink absorption is different. Surface tension tests were conducted by applying measurements of the contact angle. The results show that the process of flexo printing did not change the functional properties of the packaging.

The aim of the paper is to determine the direction and significance of the relationship between the key micro and macroeconomic factors and the impractical agricultural loans in these countries, but also to point out the importance of applying dynamic data panel evaluators when it comes to the study of this problem.