Projects / Programmes
The position of firms, financial institution and government in adapting to the common European economic environment
January 1, 2014
- December 31, 2017
| Code |
Science |
Field |
Subfield |
| 5.02.00 |
Social sciences |
Economics |
|
| 5.02.01 |
Social sciences |
Economics |
Economy sciences |
| Code |
Science |
Field |
| S180 |
Social sciences |
Economics, econometrics, economic theory, economic systems, economic policy |
| Code |
Science |
Field |
| 5.02 |
Social Sciences |
Economics and Business |
Researchers (25)
Organisations (1)
Abstract
Economic subjects (non-financial companies, financial institutions, the government and individuals) have been exposed to strong structural breaks on the national, European and global levels due to the changed conditions in the European socio-economic, financial and institutional environment after the crisis and due to the accelerated process of globalization, technological and environmental changes. Analyzing these three levels of structural breaks is the fundamental research objective of the programme group.
On the national level, the EU entry (2004) and the adoption of the Euro (2007) mark significant changes in the external environment of economic subjects, which demand changes in their macroeconomic and microeconomic behavior. The group will analyze fiscal flexibility and long term sustainability of Slovenian public finance, relations between national public finances and the EU budget, changes in the Slovenian banking, nominal rigidities and credit chains in Slovenia.
On the European and global level, the financial and economic crisis (2008-09) and the euro zone debt crisis (2010-) have triggered fundamental economic, financial, institutional and regulatory reforms which are significantly changing the external environment of economic subjects, prompting them to become ever more flexible. The group will analyze fiscal convergence of euro area member states and comparisons with other functioning monetary unions, impact of the structural changes in banking on optimal regulation and bank behavior as well as on interconnectedness between the banking system and the financial markets, impact of changes in recommendations regarding compensation schemes on behavior of managers, credit risk factors (taking into account behavioral bias), pension saving products and their regulation, quality of auditing and quality of financial reporting, especially of small and micro sized enterprises.
On the global level, the accelerated pace of globalization and technological progress and increasing environmental issues are leading to further pressures on international competitiveness of economic subjects. The group will analyze sustainable development as a possible source of competitive advantage and company adjustments in transition to a low carbon society.
The consequences of the above mentioned three levels of structural breaks are being fully felt by the Slovenian economy as it searches for the exit from the crisis, while successfulness of their resolution will significantly determine the competitiveness and position of the Slovenian economy in the EU and the globalized world in the long run. This provides a key incentive for active research efforts of the group in this field.
Significance for science
Based on a combination of methods (see point19 above), the programme will create new knowledge, expose it to critical evaluation and verification at top international scientific conferences in areas covered by the programme (e.g., European Finance Association, American Accounting Association). A favourable critical evaluation leads to publications in high-quality academic journals. The group is committed to developing new knowledge, it has followed this commitment in the past (see pts. 2 and 3 of the form ARRS-RPROG-VP-2013/14) and intends to pursue this goal also in the future.
Significance for the country
Direct importance: the research focuses on key elements of competitiveness and sustainable development of Slovene companies, institutions and the national economy (macro and micro factors, environmental considerations) and thus directly affects the economic position of these economic subjects. Economic activities are by definition social activities and hence any knowledge that helps the economic subjects to understand their and others behaviour in a competitive environment helps improve their socio-economic position. By taking into account the principles of sustainable development the economic subjects contribute to the long-term sustainability of their socio-economic position. Indirect importance: the programme members transfer all the new knowledge on students in academic institutions; by committing to high-quality research they also set the standard for future research projects; by being actively involved in international research and professional associations they signal quality, increase the recognition of Slovenia, Slovenian science and Slovenian economy; by taking into consideration the sustainability they signal the importance of long-term sustainable development.
Most important scientific results
Annual report
2014,
2015,
2016,
final report
Most important socioeconomically and culturally relevant results
Annual report
2014,
2015,
2016,
final report
