This paper examines the influence of the size and participation of women in the board of directors on the dividend policy of banks in Western Balkans. The research covered 104 banks, observing their dividend policy from 2017 to 2019. The dividend payout ratio was measured by the dividend policy. A relatively small number of banks paid dividends during the observation period. By applying the Fixed-Effect model, it was determined that the size of the board of directors has a statistically significant positive impact on the dividend policy of observed banks. Concerning the participation of women on the board of directors, a statistically significant impact on the dividend policy of banks was not identified. In addition to contributing to the existing literature on corporate finances, the research results can be crucial to investors when deciding to invest funds in bank stocks.
Auditing firms are very important for business decision-makers and they have a large impact on business development, due to issued reports and competent opinions contained in such reports. The purpose of this paper is to present, to professional public, the current condition and changes of business results achieved by active auditing firms in the Republic to Serbia over the period of eleven years. The goal of the paper is an objective assessment of the state of play and operations of active auditing firms, as well as a determination of business trends and monitoring of the results achieved in the audit services market. The paper analyzes the changes in individual balance sheet items and profitability indicators, that is their average growth during the eleven years. The results indicate that the members of the "Big Four” had not acquired a leadership position in the market, observed according to the productivity indicators. Actually, the results indicate that the auditing firms with the largest growth of net results, in the observed period, are not the leaders according to the criterion of assets growth. At the same time, the firms with the greatest growth of business income in the observed period are not at the same time the most productive firms, measured by net result per employee. The results obtained in this paper contribute to the formation of a realistic view of the situation in the audit services market, as well as the perspectives and tendencies in the development of audit firms.
The subject of the research in the paper is profitability assessment of audit companies operating in the Republic of Serbia. The objective of the research is to provide the answer to professional and scientific public whether the profitability of audit companies is conditioned by the impact of the size of audit company, origin of its equity or the existing market participation? The research included the entire population of active audit companies in the Republic of Serbia in the period from 2010 to 2019. Data analysis was performed in the statistical program SPSS, and non-parameter tests Kruskal-Wallis H test and Mann-Whitney U test were used. The research will give the answer to the question whether the profitability of an audit company depends on the source of its equity, the size or market participation it has in provision of audit services. The results of the research have shown that there is an impact of the size of the company, the origin of its equity and market participation on the profitability of audit companies measured by net income and return on total assets.
The subject of research in this paper is control activities and monitoring as components of the internal control system in manufacturing companies in the Republic of Serbia. The aim of this paper is to determine not only interdependence of control activities and monitoring, but also the interdependence of these components of the internal control system with indicators of ROA and ROE of a company. An additional goal of this paper is to examine the existence of differences in the assessment of the importance of control activities and monitoring applicable in manufacturing companies of different sizes. The research included a sample of manufacturing companies operating in the Republic of Serbia. The analysis was performed in the SPSS statistical program, where a correlation analysis was performed using the Pearson Coefficient, as well as the Kruskal-Wallis H test and the Mann-Whitney U test. The obtained results showed the existence of a strong positive link between control activities and monitoring, as well as weak links between control activities and monitoring, on one hand, and ROA and ROE indicators of the company, on the other hand. In addition, the results confirmed that there is no difference in the importance of the application of internal control systems, i.e. control activities and monitoring, in manufacturing companies of different sizes.
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