Purpose – With the expansion of dining out, visiting ethnic restaurants is becoming one of dominant trends worldwide. Given the fact that ethnic restaurants involve a number of peculiar elements that are not present when visiting regular “local” restaurants, the purpose of this paper is to identify the key determinants of choosing a particular ethnic-themed restaurant, as well as factors that have an impact on an ethnic restaurant’s perceived image. Design/methodology/approach – Research was done by conducting two separate studies. The first study identified factors that were generally the most significant to respondents when making a choice of an ethnic restaurant in which to dine. For the second study, a new sample of respondents – consisting of those who had just visited such an establishment – was used in order to determine which factors have the most significant impact on creating an image of ethnic restaurants. The research was therefore directed toward those restaurants where the customers can experience a unique atmosphere and ambiance that are synonymous within a given culture. Findings – The results obtained from the first study show that quality of food and price are the two most significant factors that determine which restaurant will be visited. On the other hand, the interior and exterior ranked as the two least important factors. In addition, the second study revealed that following the visit, the strongest impact on the restaurant’s image was its interior. Following interior, service quality surfaced as the most important antecedent of perceived image, while the impacts of price and exterior were weaker, but still statistically significant. Research limitations/implications – The study itself was done in two stages. In the first stage the analytical hierarchical process (AHP) model was used for ranking factors significant for choosing an ethnic restaurant, while in the second stage, structural equation modeling (SEM) model was used to identify triggers of perceived image after a visit to an ethnic restaurant. Future research should utilize both models to determine antecedents of the variables used. Apart from this, it is recommended to employ new variables that further explore the uniqueness of the ethnic restaurants. Originality/value – One of the main contributions of this work is related to combining of the AHP and SEM models, with the objective of completing a comparative results analysis, identifying in the process the positive aspects of both models and building a foundation for their coordination in terms of future use. This is significant, given that only a few prior studies have used such synergy.

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In situations where it is necessary to perform a large number of experiments in order to collect adequate statistical data which require expert analysis and assessment, there is a need to define a model that will include and coordinate statistical data and experts' opinions. This article points out the new integrated application of the Analytic Hierarchy Process (AHP) and Bayesian analysis, in the sense that the Bayes' formula can improve the accuracy of input data for the Analytical Hierarchy Process, and vice versa, AHP can provide objectified inputs for the Bayesian formula in situations where the statistical estimates of probability are not possible. In this sense, the AHP can be considered as the Bayesian process that allows decision-makers to objectify their decisions and formalise the decision process through pairwise comparison of elements.

This paper describes the application of Analytic Network Process (ANP) in the modeling and analysis of various factors and the impact on the forecasting processes in situations when there is a need for the integration of contextual information, which is the result of sudden and unpredictable changes in the environment in which the company operates. The model is applied on a sample in forecasting the sale of a new model automobile Fiat 500 L, and is based on the professional knowledge of experts in automobile market trends, the actual current and projected trends in automobile sale and subjective evaluations of the authors, and in the context of the global economic crisis which signifi cantly aff ects automobile sale in the world market.

PurposeThe purpose of this paper is to explore the effects of cross-border acquisitions on the efficiency and productivity of acquired companies in the cement industry in the context of a transitional economy.Design/methodology/approachThe Data Envelopment Analysis (DEA) and Malmquist Productivity Index were used to assess the efficiency and productivity of the acquired companies over the period 2000–2018. DEA and Malmquist index are combined with bootstrapping to perform succinct statistical inferences for determining the accuracy of results. The study assesses partial efficiency and productivity of three inputs: material, capital and labour, as well as the total factor efficiency and productivity of the acquired companies in the short and long term after the acquisitions.FindingsThe research results suggest that efficiency of material, efficiency of labour and the total factor efficiency of the acquired companies are higher after the acquisitions than before, while efficiency of capital is lower. In addition, the results show that the acquisitions had a positive impact on total factor productivity of the acquired companies.Practical implicationsThe results of this study have practical implications for managers, especially for policy-makers and industry analysts in deciding whether to encourage or discourage cross-border acquisitions in transitional economies.Originality/valueThe study contributes to a better understanding of the impact of cross-border acquisitions on efficiency and productivity of acquired companies in the manufacturing industry. Research in transitional economies related to subject matter is limited, and this study is the first empirical investigation of the effect of cross-border acquisitions on the efficiency and productivity in the cement industry in Serbia by applying the Data Envelopment Analysis.