Uzimajući u obzir specifičnosti srpskog tržišta osiguranja, sektor osiguranja u Srbiji je i dalje nerazvijen i po stepenu razvijenosti nalazi se znatno ispod proseka zemalja članica Evropske unije. Tržište osiguranja u Srbiji je u razvoju i ima ogromne potencijalne mogućnosti. Profitabilnost je jedan od najvažnijih ciljeva finansijskog upravljanja. Cilj ovog istraživanja je ispitivanje uticaja unutrašnjih faktora poslovanja neživotnih osiguravajućih kompanija kao što su: veličina aktive (kompanije), rast aktive, rast premije, racio likvidnosti, racio zadužeosti, poslovni rizik (underwriting risk), operativni troškovi, finansijski leveridž, učešće dobiti u ukupnim prihodima na profitabilnost neživotnih osiguravajućih kompanija u Srbiji. Rezultati istraživanja su dobijeni primenom modela višestruke linearne regresije gde će se reprezentativnost modela ispitati proračunom koeficijenta korelacije, koeficijenta determinacije i korigovanog koeficijenta determinacije. Takođe, biće sprovedena i analiza varijanse (ANOVA), kako bi se testirala značajnost posmatranih varijabli u modelu i sagledao uticaj navedenih nezavisnih varijabli na profitabilnost ROA kao zavisne varijable. Temeljni rezultati sastoje se u davanju empirijske podloge za donošenje zaključka da najveći uticaj na profitabilnost neživotnih osiguravajućih kompanija imaju rast premije, racio zaduženosti, operativni troškovi i učešće dobiti u ukupnim prihodima.

The aim of this study was to determine the economic viability of the use of warehouse receipts for the storage of wheat and corn, based on the analysis of trends in product prices, storage costs in public warehouses and interest rate of loans against warehouse receipts. Agricultural producers are urged to sell grain at the harvest time when the price of agricultural products is usually lowest, mostly because of their needs for financial sources. Instead of selling products, farmers can store them in the public warehouses and use shorttime financing by lending against warehouse receipt with usually lowest interest rate. In following months, farmers can sell products at higher price and repay short-term loan. This study showed that strategy of using public warehouses and postponing the sale of grains after harvest is profitable strategy for agricultural producers.

The main purpose of this paper is to research the factors that have an impact on the company profitability in the logistics industry during a five-year period (2013-2017). The sample includes 748 active companies operating in the logistics industry in the Balkan countries. Bearing in mind that logistics is an essential instrument of competitiveness and profitability of the company operations and that logistics is one of the most profitable industries, this paper used the panel data model with fixed effect in order to analyse profitability. The obtained results showed that four out of the six studied variables (company size, tangibility of assets, liquidity, and asset turnover ratio) have a statistically significant impact on profitability. The results provide guidelines for increasing profitability and improving the performance of logistics companies, given that an efficient planning system, managing and controlling the logistics system are key determinants of profitable business operations.

Abstract: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 security contributions on gross domestic product as a proxy for economic growth. Methodology framework includes several tests to clear the potential problem of heteroscedasticity, autocorrelation, multicollinearity and specification of the model. Based on diagnostic tests, a regression model is adequately created where fundamental econometric procedures are applied. Correlation matrix reflects a strong and positive relationship between tax revenue growth and corporate income tax on the one side and gross domestic product growth, on the another side. Also, personal income tax and social security contributions are weakly related to gross domestic product growth. The model shows a significant effect of tax revenue growth and social security contributions, while personal income tax and corporate income tax do not have a significant impact on gross domestic product growth. Interestingly, personal income tax as the main tax form in the tax structure of the United States has no significant impact on economic growth compared to social security contributions which percentage share is lesser.

In economic theory the price movement at a general level is one of the essential issues that can significantly affect on economic flows.

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 tax, social security contributions and excises are independent variables. The results of random effect model have shown that corporate income tax, value added tax and social security contributions have a positive impact on the gross domestic product, while excises affect the gross domestic product negatively. However, only value added tax has a statistically significant impact on economic growth in these countries, with each increase in revenue from this tax contributing to the growth of gross domestic product in the observed period.

Inflation can be simply defined as a price rise in the general level in one country. Friedman (1976) points out that inflation is always and everywhere a monetary phenomenon and low inflation has an important place in the economic policy of each country because in the case of the pronounced volatility of this indicator may lead to adverse implications for economic growth (Klomp & Haan, 2009). Haderi et al. (1999) point out that when a country moves from a planned economy to a market economy, inflation could be a direct problem for the government. In the past, countries of the former Yugoslavia had negative experiences with inflation and Žižmond

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