- citati u SCIndeksu: 0
- citati u CrossRef-u:0
- citati u Google Scholaru:[
 ]
- posete u poslednjih 30 dana:3
- preuzimanja u poslednjih 30 dana:2
|
|
|
2016, vol. 64, br. 5-6, str. 347-360
|
|
Validnost modela odobrenja investicionog kredita malim i srednjim preduzećima u Srbiji
Validity of investment loan approval model for SMEs in Serbia
aUniverzitet Singidunum, FEFA - Fakultet za ekonomiju, finansije i administraciju - FEFA, Beograd, Srbija
bUniverzitet Singidunum, FEFA - Fakultet za ekonomiju, finansije i administraciju - FEFA, Beograd, Srbija + Ministry of Trade, Tourism and Telecommunications
cUniverzitet Singidunum, Fakultet za turistički i hotelijerski menadžment, Beograd, Srbija
Projekat: Unapređenje konkurentnosti Srbije u procesu pristupanja Evropskoj uniji (MPNTR - 47028)
Sažetak
Mala i srednja preduzeća (MSP) su glavni nosioci ekonomskog razvoja. MSP investiraju sredstva u nove proizvode, nove tehnologije i osvajanje novih tržišta. Njihov krajnji cilj je da povećaju vrednost kompanije, odnosno, da obezbede profit za vlasnika. Predmet ovog istraživanja jeste objektivna analiza validnosti modela za odobrenje investicionog kredita malim i srednjim preduzećima (ILASME) koji najčešće koriste poslovne banke kada razmatraju da li će finansijski da podrže investicionu potrebu MSP klijenta. Cilj ovog rada je da ukaže na mogućnosti za unapređenje ILASME u domenu objektivnog donošenja odluke. Osnovna hipoteza istraživanja je da postoji sumnja u validnost/pouzdanost ILASME koji koriste poslovne banke u Srbiji. Primenom Pirsonovog koeficijenta korelacije će biti kvantifikovan stepen međusobne povezanosti ILASME i poslovnih performansi banke, odnosno indikatora kvaliteta aktive, poslovnog rezultata i kapitala. To će dalje uputiti na zaključak da uspešnost primene ILASME zavisi od usvojenih i primenjenih risk menadžment procedura, koje su predmet stalnog praćenja i unapređenja, uvažavajući kvalitativne karakteristike kreditora i korisnika kredita. I na kraju, proaktivno praćenje tržišnih trendova i fleksibilno unapređenje kreditnih procedura za upravljanje rizikom od presudnog je značaja.
Abstract
Small and medium enterprises (SMEs) are the main drivers of economic development. The SMEs invest funds in new products, new technologies, as well as in new markets. Finally, their aim is to increase the overall value of the company, i.e. to obtain profit for the shareholder. The subject of this research paper is an objective analysis of the validity of the investment loan approval model for the SMEs (ILASME) used by the commercial banks when considering whether to support financially an investment need of an SME client. The aim of this paper is to indicate the possibilities of improving the validity of the ILASME from the standpoint of validity for decision-making in this domain. The basic hypothesis of the research is that there is an objective doubt regarding the validity of the ILASME applied by the commercial banks in Serbia. By applying the Pearson correlation coefficient, the effect of the applied ILASME on the commercial banks' performance shall be quantified, i.e. the impact of nonperforming loans (NPLs) on the financial result and the equity of the bank shall be determined. Furthermore, it can be concluded that final success of the implemented ILASME depends on the adopted and accepted risk management procedures, which are the subject of permanent monitoring and improvement, as well as on the qualitative factors on the borrower and lender side. Moreover, permanent monitoring of market trends and improvement of credit risk management procedures are relevant.
|
|
|
|
Reference
|
|
|
*** (2006-2011) Law on accounting and auditing. Official Gazette of the Republic of Serbia, No. 46/2006, 111/2009, 99/2011
|
|
|
*** (2008) Group real estate policy: Investment. Vienna: Erste Group Bank AG, Erste Group
|
|
3
|
ACFE (2014) Report to the nations on occupational fraud and abuse. Retrieved from http://www.acfe.com/rttn/docs/2014-report-to-nations.pdf
|
|
|
Avlijaš, G., Avlijaš, R., Heleta, M. (2014) Financial literacy as a factor in reducing entrepreneurial risk. u: Stanišić M. [ur.] Financial reporting function of the corporate governance, Symposium conducted at the Singidunum University, December, Belgrade
|
|
2
|
Barać, S., Ivaniš, M., Jeremić, Lj. (2004) Upravljanje finansijama. Beograd: Univerzitet Singidunum, Fakultet za finansijski menadžment i osiguranje
|
|
|
Barjaktarović, L., Milojević, M., Terzić, I. (2014) Results of appliance of Benfords law on Serbian companies. u: Barjaktarović-Rakočević S. [ur.] SymOrg. Symposium conducted at the Faculty of Organizational Sciences, Zlatibor, June
|
|
6
|
Barjaktarović, L. (2013) Upravljanje rizikom. Beograd: Univerzitet Singidunum
|
|
 
|
Barjaktarović, L., Ječmenica, D. (2011) Osvrt na implementaciju standarda Bazela II u poslovanje bankarskog sektora Srbije. Management - časopis za teoriju i praksu menadžmenta, vol. 16, br. 59, str. 71-77
|
|
1
|
Barjaktarović, L. (2009) Transformacija domaće banke u savremenu evropsku banku. Beograd: Univerzitet Singidunum
|
|
1 
|
Barjaktarović, L., Pindžo, R., Hanić, A. (2016) Critical analysis of realibility of the model of investment credit approval in agriculture and food processing industry. Ekonomika poljoprivrede, vol. 63, br. 3, str. 751-765
|
|
|
Barjaktarović, L., Pindžo, R., Vjetrov, A. (2015) Project financingin the case of residential construction in Belgrade. Ekonomika preduzeća, vol. 63, br. 5-6, str. 323-336
|
|
1
|
Belak, V. (2011) Poslovna forenzika i forenzičko računovodstvo: Borba protiv prijevare. Zagreb: Belake Excellens
|
|
7
|
Bodie, Z., Kane, A., Marcus, A.J. (2008) Investments. New York, itd: McGraw Hill
|
|
|
Brealey, M. (2007) Principles of corporate finance. McGraw Hill, Seventh Edition
|
|
1
|
Bugarčić, U. (2015) Fraud detection in companies. u: Stanišić M. [ur.] Contemporary financial management, Symposium conducted at the Singidunum University, December, Belgrade
|
|
|
Čerović, S., Barjaktarović, L., Milojević, M. (2015) Increased country risk had impact on regulatory of financial reports of companies: Serbian case. u: Dinu V. [ur.] New trends in sustainable business and consumption: Symposium conducted at the Bucharest University of Economic Studies, Romania, Bucharest, June
|
|
8
|
Đuričin, D., Lončar, D. (2007) Menadžment pomoću projekata. Beograd: Ekonomski fakultet
|
|
|
Erste bank Novi Sad (2007-2015) Annual reports and disclosure of data and information (3rd Pillar of Basel II) of Erste Bank a.d. Novi Sad for the period from 2007 to 2015. Retrieved from http://www.erstebank.rs/rs/Downloads/76fcd63a. /Pillar_3_NBS_20151231_eng.pdf
|
|
3
|
European Commission (2010) Europe 2020: A strategy for smart, sustainable and inclusive growth. Retrieved from http://ec.europa.eu/eu2020/pdf/COMPLET%20EN%20BARR0S0%20%20%20007%20-%20Europe%202020%20-%20EN%20version.pdf
|
|
|
European Commission (2003) Commission recommendation 2003/361/EC of 6 May 2003. Official Journal, L124 of05/20/2003. Retrieved from http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=URISERV:n26026
|
|
8
|
Graham, J.R., Harvey, C.R. (2001) The theory and practice of corporate finance: evidence from the field. Journal of Financial Economics, 60(2-3): 187-243
|
|
1
|
Hopwood, W., Leiner, J., Young, G. (2012) Forensic accounting and fraud examination. New York: McGraw Hill Irwin, 2nd edition
|
|
13
|
Jovanović, P. (2000) Upravljanje investicijama. Beograd: Grafoslog
|
|
|
Jovin, S. (2016) Mogućnosti unapređenja finansiranja malih preduzeća u Srbiji. , doktorska disertacija
|
|
4
|
Knežević, S., Barjaktarović-Rakočević, S., Đurić, D. (2011) Primena i ograničenja racio analize finansijskih izveštaja u poslovnom odlučivanju. Management - časopis za teoriju i praksu menadžmenta, vol. 16, br. 61, str. 25-31
|
|
2
|
Lončar, D., Barjaktarović, L., Pindžo, R. (2015) Analiza isplativosti investicionih projekata. Beograd: Ekonomski institut
|
|
|
Ministarstvo privrede Republike Srbije (2016) Info privreda - Mala i srednja preduzeća. Retrived from http://www.privreda.gov.rs/mala-i-srednja-preduzeca-2
|
|
1
|
Mirdala, R., Mizdraković, V., Arežina, N., Stefanović, D. (2014) Creative accounting: from creativity to misuse. u: Stanišić M. [ur.] Financial reporting function of the corporate governance, Symposium conducted at the Singidunum University, December, Belgrade
|
|
6
|
Palepu, K.G., Healy, P.M., Bernard, V.L. (2003) Business analysis and valuation: Using financial statements, text and cases. New York: McGraw Hill
|
|
|
Sikimić, U. (2016) Analiza faktora migracije regularnih kreditnih plasmana u poslovnim bankama Republike Srbije. Beograd: Beogradska bankarska akademija, doktorska disertacija
|
|
1
|
Stanišić, M., Petrović, Z., Vićentijević, K. (2015) Research irregularities in the calculation of depreciation of fixed assets in the Republic of Serbia. u: Stanišić M. [ur.] Contemporary financial management, Symposium conducted at the Singidunum University, December, Belgrade
|
|
|
Vasilski, A. (2014) Osnov za sastavljanje izveštaja o novčanim tokovima. Mokra Gora: Mokrogorska škola menadžmenta
|
|
|
Vasilski, A. (2016) Naplata potraživanja iz perspektive poverioca u vremenu krize. Retrieved from http://www.fefa.edu.rs/files/pdf/Studije_Istrazivanja/Naplata_potrazivanja_iz_perspektive_poverioca_u_vremenu_ekonomske_krize.pdf
|
|
|
Vesković, N. (2014) Aspects of entrepreneurial risk. u: Stanišić M. [ur.] Financial reporting function of the corporate governance, Symposium conducted at the Singidunum University, December, Belgrade
|
|
1
|
Vićentijević, K., Jović, Z., Petrović, Z. (2015) The impact of impairment of receivables on the reality of financial reporting in the Republic of Serbia. u: Stanišić M. [ur.] Contemporary financial management, Symposium conducted at the Singidunum University, December, Belgrade
|
|
2
|
Vukadinović, P., Jović, Z. (2012) Investicije. Beograd: Univerzitet Singidunum
|
|
|
|
|