Research background: Public procurement is designed to efficiently spend public sector financial resources. This should lead to savings in public funds. Domestic and foreign studies point to the fact that sufficient competition on the supply side is the condition for achieving those savings. Slovakia currently belongs to a group of countries with low competition on the supply side of the tender. Every year, about 10,000 tenders will be made in Slovakia for 5 billion Eur. However, contracting authorities have difficulty with establishing the estimated contract value and defining non-discriminatory criteria. On the other hand, contractors lack the expertise to prepare tenders, specifications are often tailored to specific bidders or products, and the price criterion has a negative impact on the quality of the goods and services purchased. Purpose of the article: The aim of the study was to investigate the impact of selected efficiency determinants on savings in public procurement in Slovakia in 2010–2016. The number of bids, the subcontractor's participation, the narrower competition and the impact of the narrower competition and the expected price on the number of bids have been examined. Methods: The survey sample consisted of 800 randomly selected public procurement con-tracts from different sectors in 2010–2016. The contracts were split on the basis of the median estimate of the above-limit (409 contracts) and below-limit (391 contracts) contracts; the divestment value was the estimated price of 400,000 Euro (without the tax). Findings & Value added: The number of offers positively influences the creation of savings in public procurement, an average of 5-6%. The impact of a narrow competition was significant, which led to a decrease in savings of 3-4% compared to the open competition if the sample was 800 contracts and over 400,000 Euro (without the tax). For below-limit orders, this determinant was shown to be statistically insignificant. The size of the contract did not affect the number of successful candidates. Also, the negative impact of narrower competition on the number of tenders was demonstrated. These findings are in line with the presented research studies. In the future, we plan to perform sectoral analyses to verify the validity of the hypotheses under review based on the results of our research.

Purpose This study aims to analyze the impact of newly created brand awareness on customer’s buying behavior in online environment. Design/methodology/approach The authors analyzed more than 280,000 online customer journeys from four e-commerce stores based in Slovakia. Within the results of the interaction analysis of individual customer journeys, the authors determined three criteria based on the level of theoretical brand awareness. The purpose was to determine their occurrence in real-world data. Findings It was found that each of the specified criteria accounts for the significant share of the company’s revenues. Based on these criteria and the level of their occurrence, the authors introduced the term direct traffic effect. Research limitations/implications Because of the available Web analytics tools, the data might be imprecise because of data collection issues. There is also ambiguity in the interpretation of the customer journey. Practical implications The company can build awareness among prospective customers by offering them a positive customer experience during the first interactions online. Data proved that customer will not only repeatedly visit the website from the direct traffic source but also his customer journey will end with the purchase of the company’s products. Originality/value This paper fulfills the need for further research on the impact of multi-channel marketing on brand awareness and consumer behavior, respectively.

In 2009, when the effects of the economic crisis were fully felt, countries around the world experienced negative impacts, starting from the USA, where the crisis began, through Europe to Asia. Economic cycles, fluctuations, and crises are a common part of the financial market, for example, the crisis in 1929 and the crisis in 2000. The recovery of the economy is a key factor in this process. Due to the increasingly powerful process of globalization and the growth of the interconnectedness of individual economies to each other, not to mention an increasing pressure on the formation of integration clusters, the creation and emergence of new financial crises with supranational and transnational character are highly likely in the future. It is possible that a one-day crisis reaches and expands with global reach, but it is important for us to be prepared through effective tools. In this article, we will be dealing with financial indicators within the European Union that define and create the capital market. Based on cluster analysis, we create groups of countries that are similar to each other. We determine which countries are the leaders and which, on the contrary, lag behind the rest of Europe.

The aim of this work is by combination of the graph theory and Markowitz portfolio theory to illustrate how some graph characteristics are related to the diversification potential of individual portfolio-forming stocks. Using the graph characteristic, the vertex eccentricity, individual stocks are divided into two groups: a group of large and group of small eccentricity. Eccentricity in this context is considered to be a very suitable metric of the centrality of individual vertices. Different price histories (5 to 30 years) of the Standard and Poor’s index are analyzed. Using the simulation analysis, samples of mentioned groups are generated and then tested by means of comparison to show that larger eccentricity samples, representing stocks on the periphery of the minimum spanning tree of the graph, have a higher potential for diversification than those found in the center of the graph. The results published in the article can be a practical guide for an individual investor during the portfolio creation process and help him/her with decision-making about stock selection.

Humanitarian workers operate in complex environments with various challenges and demanding working conditions. These challenges put aid workers in a range of risks and under the pressure. However, human resources are crucial for success of humanitarian operations in general. At the same time, each humanitarian operation is reliant on logistics and logistics activities are always connected with logistic staff. Understanding what motivates logisticians to join the humanitarian sector is essential information for humanitarian organizations and for recruiters within. Also, knowing which factors influence motivation and job satisfaction of humanitarian logisticians could help the organizations to struggle with the extremely turnover they have to face. Up to this moment, needed skills and the performance of humanitarian logisticians were examined. Also, the motivators of humanitarian workers are covered in previous research. Therefore, the additional aim of this research is to extend the knowledge about the human resources in humanitarian sector as well.