Zarko Popovic

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Generalized Directable Automata

ABSTRACT In [16] the last three authors introduced the notion of generalized directable automata ... more ABSTRACT In [16] the last three authors introduced the notion of generalized directable automata as a generalization of many already known types of automata. The algorithms for testing whether a finite automaton belongs to some of important subclasses of the class of generalized directable automata are studied by the authors in [18]. In this paper structural properties of finite and infinite generalized directable automata are considered, tests for membership of a finite automaton in the pseudovarieties of generalized directable and locally directable automata are given, and the least generalized directing and locally directing congruences on a finite automaton are described.

Positive fuzzy quasi-orders on semigroups

Filomat

In this paper we study certain types of positive fuzzy quasi-orders on semigroups and their links... more In this paper we study certain types of positive fuzzy quasi-orders on semigroups and their links with completely semiprime fuzzy ideals, completely prime fuzzy ideals, and fuzzy filters. We characterize various properties of a positive fuzzy quasi-order Q in terms of the properties of its left and right eigen spaces IQ and CQ, the solution sets of eigen fuzzy set equations corresponding to Q. We also demonstrate certain applications of the obtained results to semilattice decompositions of semigroups. The results of this paper shed new light on the known links between positive (crisp) quasi-orders, completely semiprime ideals, completely prime ideals, and filters of semigroups, and make these links much clearer.

Profitability Determinants of Insurance Companies in the Republic of Serbia

Springer proceedings in business and economics, 2020

The performance of insurance companies should be profoundly analysed in order to determine the gr... more The performance of insurance companies should be profoundly analysed in order to determine the growth possibilities of the insurance sector and its contribution to the development of the national economy. The aim of this paper is to investigate the influence of the firm-specific factors and external factors on profitability of insurance companies in the Republic of Serbia. In order to achieve this objective, multiple regression analysis is applied on the panel data covering the period from 2006 to 2016. The analysed sample consists of fourteen insurance companies that operate in the Republic of Serbia. As a measure of profitability, the Return on Asset (ROA) indicator is used. The results of the regression analysis indicate that a number of years operating on the market, capital adequacy, investment performance, market share and GDP growth rate are determinants that have statistically a significant impact on the profitability. These results should provide important information on what should insurance companies that operate in the Republic of Serbia and relevant policymakers focus in order to improve profitability, bearing in mind the fact that insurance sector can be an important determinant of financial and overall economic development of a country.

MCDM Approach for Assessment of Financial Performance of Serbian Banks

Springer eBooks, 2020

The significance and role of the banking sector for the development of national economy define th... more The significance and role of the banking sector for the development of national economy define the need for continuous monitoring of the performance of banks. The banking sector in the Republic of Serbia has undergone considerable changes in recent decades. The contemporaneous trend of liberalization enabled the entry of foreign capital which led to an increase in competition, and the issue of the financial performance of banks got significant attention. Adequate evaluation of banks’ financial performance may provide useful guidelines to bank managers during decision-making. The problem of banks’ financial performance assessment can be defined as a multi-criteria decision-making (MCDM) problem since the bank needs to check and oversee an extensive set of performance indicators. Therefore, MCDM techniques can be a useful tool for the evaluation of the financial performance of banks. In this paper, the financial performance of all banks that operated in the Republic of Serbia during the period from 2012 until 2017 was assessed using an integrated model combining the CRITIC method and the TOPSIS method. The analysis consists of two steps: in the first step, criteria weights are obtained by the CRITIC method while in the second step the ranking is performed using the TOPSIS method.

Determinants of the Female Labour Force Participation: Panel Data Analysis

Central European Business review, Oct 20, 2023

The growing participation of women in the labour market has been undoubtedly one of the main feat... more The growing participation of women in the labour market has been undoubtedly one of the main features of the evolution of the economies of the European Union (EU) during the last few decades. Nevertheless, maintaining this increase remains an important policy goal due to the existing population ageing and gender employment gap. This paper aims to analyse the main determinants of female labour force participation (FLFP) in the EU countries using panel data regression analysis covering the period from 2000 to 2021. By employing the fixed-effects regression analysis, an influence of dependent variables such as GDP per capita, presence of anti-discrimination laws, equal opportunities laws and affirmative action, women's participation in parliament work, total fertility rate, paid parental leave, retirement age with full pension benefits, women's education and annual net earnings are assessed on the female labour participation rate in the European Union. Moreover, the robust standard error procedure is performed for model estimation. The empirical results indicate that GDP per capita, total fertility rate, equal age of retirement for men and women, annual net earnings, female upper secondary and post-secondary non-tertiary education and tertiary education enrolment represent significant determinants of FLFP, where all the stated variables have a positive influence on the FLFP rates. Therefore, improvement in education levels, annual net earnings and gender equality policies influence women to participate more in labour markets. These findings demonstrate the significance of improving education and earnings levels and the necessity of the development of adequate policies that will provide that. Implications for Central European audience: The results of this study provide insightful findings concerning the main drivers of female labour force participation in the European Union by taking into account the COVID-19 pandemic period labour market indicators.

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Primena višekriterijumske analize u proceni investicionih projekata

Pareto optimality and externalities

The goals and limitations of multicriteria models of environmental protection

Currency quasi-forward formulae with costless and costly arbitrage

Facta Universitatis. Series: Economics and Organization, 2011

Assessing Smartness and Urban Development of the European Cities:An Integrated Approach of Entropy and VIKOR

Contributions to Management Science, 2021

Impact of Expenditures for Education on the Competitiveness of the Economy

ЗБОРНИК РАДОВА ЕКОНОМСКОГ ФАКУЛТЕТА У ИСТОЧНОМ САРАЈЕВУ, 2017

Modern trends in society lead to the conclusion that the development of a country can not be base... more Modern trends in society lead to the conclusion that the development of a country can not be based on a numerical increase in human resources, but only on raise of the creative and production quality of these resources, which is the exclusive task of the educational system. According to the indicators of investment in the development of the educational system, the Republic of Serbia is below the EU average. For this reason, one of the conditions that the Republic of Serbia needs to meet on its path towards the European Union is to achieve the European average spending on higher education.The subject of the research presented in this paper are the expenditures on education and competitivness of the economy in the Republic of Serbia and neighboring countries. Since the quality of education is one of the elements of economy competitiveness, it will be also analyzed in the paper. The aim of the paper is to examine the relation between expenditures on education, quality of education and ...

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Power semigroups that are 0-Archimedean

Mathematica Moravica, 2009

In this paper we give a structural characterization for semigroups whose power semigroups are 0-A... more

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Influence Of Subjective Preferences On The Decision-Making Process In A Multi-Criteria Model Of Public Procurement

Improvement of business is one of the primary goals of any business entity. One of the basic prer... more Improvement of business is one of the primary goals of any business entity. One of the basic prerequisites for a successful business is the proper allocation of public resources. In this sense, the public procurement system is an important component in improving the efficiency of public finances, which are of special interest to modern society. This paper discusses the role and importance of the method of multi-criteria analysis for the evaluation of public procurement. The idea for this kind of analysis is the result of research into the possibility of applying different methods of decision making in the modern approach to decision making in the sector of public procurement. The emphasis is placed on those methods that use the alternative ranking. In addition to the theoretical dimension, the paper also presents one method of multi-criteria analysis, the AHP method, applied to empirical data obtained from the Gerontology center “Jelenac” in Aleksinac.

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The Digital Competitiveness of European Countries: A Multiple-Criteria Approach

Journal of Competitiveness, 2021

High-quality digital infrastructure is the basis of almost every sector of a modern and innovativ... more High-quality digital infrastructure is the basis of almost every sector of a modern and innovative economy and society. As a part of the overall competitiveness concept, digital competitiveness is a multidimensional structure that encompasses various factors of the process of digital transformation through the ability of learning and application of new technologies, technology factors that enable digital transformation, and digital readiness factors that assess the preparedness of an economy and citizens to assume digital transformation. The paper aims to propose a methodology for measuring digital competitiveness using a composite index approach including a variety of various indicators. To assess the digital competitiveness of European countries, a multi-criteria analysis was applied in a two-stage procedure integrating CRITIC and TOPSIS as weighting and aggregation methods. The sample includes thirty European countries and the research is based on thirteen indicators provided in ...

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Analysis of Bank Efficiency in the Republic of Serbia: Dea Approach

The structure of Serbian banking system has substantially changed over the past decade as a resul... more The structure of Serbian banking system has substantially changed over the past decade as a result of a comprehensive reform which has regulated the banking system and reduced the number of banks. With the arrival of foreign banks banking environment has become more competitive. Therefore, bank management should focus on improving efficiency which will consequently lead to the improvement of the competitive position. This paper uses Data Envelopment Analysis (DEA) to examine and evaluate the efficiency of Serbian banks during the period 2014–2016. The analysis will show which of the banks operate efficiently and which of the banks have efficiency that is not at a satisfactory level, as well as the potential reasons of inefficiency.

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Chain decompositions of k-Archimedean ordered semigroups

Filomat, 2015

In this paper, we rst dene various types of k-regularity of ordered semigroups and various types ... more In this paper, we rst dene various types of k-regularity of ordered semigroups and various types of k-Archimedness of ordered semigroups. Also, we dene the relations T(k); T(k)l ; T(k)r ; T(k)t and T(k)b (k in Z+) of on an ordered semigroup. Using these notions, lter, and the radical subsets of ideal, left ideal and bi-ideal of ordered semigroups we describe chains of k-archimedean (left k-archimedean, t-k-archimedean) ordered subsemigroups. .

Efficiency Estimation of Commercial Banks Based on Financial Performance: Input Oriented DEA CRS/VRS Models

Economic Themes, 2018

Measurement and evaluation of the bank’s operations efficiency requires analytical techniques tha... more Measurement and evaluation of the bank’s operations efficiency requires analytical techniques that provide data beyond those available from the standard analysis of financial statements. The Data Envelopment Analysis (DEA) is a mathematical programming technique that offers valuable insights in finding inefficient banks taking into account the scope of the services and resources used to provide these banking services. The results of the DEA analysis can provide significant information to the bank’s management that can supplement the information obtained using traditional techniques for assessing efficiency. The assessment of banks’ efficiency in the Republic of Serbia is of particular importance due to intense competition and implemented banking reforms. Therefore, in this paper DEA analysis will be applied for the examination and assessment of the efficiency of the operations of Serbian banks during the period 2014-2016. The analysis will show which of the banks operates efficientl...

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Decompositions of ordered semigroups into a chain of k-Archimedean ordered semigroups

Filomat, 2016

In this paper, we first define various types of k-regularity of ordered semigroups and various ty... more In this paper, we first define various types of k-regularity of ordered semigroups and various types of k-Archimedness of ordered semigroups. Also, we define the relations ?(k), ?(k)l, ?(k)r, ?(k)t and ?(k)b (k ? Z+) on an ordered semigroup. Using these notions, filter, and radical subsets of an ideal, left ideal and biideal of ordered semigroups we describe chains of k-Archimedean (left k-Archimedean, t-k-Archimedean) ordered subsemigroups.

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Determination of Expert Group Preferences in the Multi-Criteria Model for the Analysis of Local Economic Environment

Economic Themes, 2016

Local economic environment is characterised by a range of economic, social, political and demogra... more Local economic environment is characterised by a range of economic, social, political and demographic parameters, based on which we can perform its analysis. Heterogeneity of relevant characteristics of the local economic environment imposes multiple criteria analysis as one of the suitable tools for the evaluation. Assessment of local economic environment often falls within the scope of group decision-making, as it is usually performed on the basis of an analysis of preferences of economic subjects or relevant experts on the issue of the economic environment at the local level. Regardless of whether it is based on economic subjects or expert group, in order to form a multi-criteria model, it is necessary to generate preferences of individuals into a single weight coefficient, which shows groups’ preference on the importance of each criterion. The subject of this paper is determination of weight coefficients in the multi-criteria model for the analysis of local economic development ...

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Semilattices of Archimedean Semigroups

Proceedings of the International Conference on Algebra 2010 - Advances in Algebraic Structures, 2011

ABSTRACT M. S. Putcha, in 1973, gave the first complete description of semilattices of Archimedea... more ABSTRACT M. S. Putcha, in 1973, gave the first complete description of semilattices of Archimedean semigroups. Other characterizations of this class of semigroups have been given by T. Tamura in 1972, by S. Bogdanović and M. Ćirić in 1992 and by M. Ćirić and S. Bogdanović in 1993. In this paper, for m,n∈N, we define a relation ρ (m,n) and prove that it is a congruence relation on an arbitrary semigroup. Using the congruence relation ρ (m,n) we give some new characterizations of semilattices of Archimedean semigroups. At the end we describe hereditary properties of semilattices of k-Archimedean semigroups.

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