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FBIM Transactions
DOI 10.12709/issn.2334-704X
ISSN 2334-704X (Online)
ISSN 2334-718X (Print)


In the next issues of the MEST Journal, among others, we will publish:
  1. Tamila Arnania-Kepuladze, Dali Sologashvili, and Giorgi Kepuladze

    LABOR MARKET: COVID-19 PANDEMIC AND WORKING POVERTY
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    Abstract: Socio-economic inequality has always accompanied the development of human society. However, the problem of inequality could intensify in certain periods. Given study aims to understand why do people who get income, salary or wage remain to be poor? Why does working poverty exist? How various extraordinal phenomenon like COVID-19 pandemic influence employed population and heir material situation. The article determines four groups of poverty reasons: Society level objective reasons, Society level subjective reasons, Individual-level subjective reasons, and Individual-level objective reasons. Discussing the issues of the reasons for working poverty, the paper mentions such as Changes in labor market policies, Long-term structural changes in the economy of developed countries; Strengthening the globalization ...     Socio-economic inequality has always accompanied the development of human society. However, the problem of inequality could intensify in certain periods. Given study aims to understand why do people who get income, salary or wage remain to be poor? Why does working poverty exist? How various extraordinal phenomenon like COVID-19 pandemic influence employed population and heir material situation. The article determines four groups of poverty reasons: Society level objective reasons, Society level subjective reasons, Individual-level subjective reasons, and Individual-level objective reasons. Discussing the issues of the reasons for working poverty, the paper mentions such as Changes in labor market policies, Long-term structural changes in the economy of developed countries; Strengthening the globalization process and structural changes in the national economies; Low wage of working people caused by personal specifics of an employed person like his/her human capital i.e. education or qualification, ability to appropriated use own skills and knowledge and manage own life; Unequal socioeconomic position of different demographic groups of population; Household characteristics. Out-of-the-ordinary phenomena such as COVID-19 further complicate the situation with the working poor. The labor market also has reacted to the changes caused by the spread of COVID-19 by adaption of specific programs aimed to keep employment unchangeable, by protection against unemployment, changes of work regimes, changes in labor legislation, etc. Increasing employment is a necessary but not sufficient condition for overcoming working poverty. Therefore, overcoming in-work poverty is necessary along with the increase of the number of jobs to improve the quality of these jobs. Good public policies can limit and truly reverse the rise in working poverty.

    Keywords: Labor Market, Working Poverty, In-Work Poverty, Employment, Unemployment, Wage, COVID-19, coronavirus crisis.

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  2. Draško Bosanac

    THEORETICAL AND LEGAL CONCEPT OF A SUPPLEMENTARY WORK IN SERBIA
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    Abstract: A suplementary work has existed in theory and legal solutions for a long time. This paper deals with the review of attitudes about the legal nature of the bywork, which can be in the form of employment or work without employment, depending on the determination of the legislator. Serbia's positive legal solution regulates it as a work outside the employment relationship. The methodological approach to the topic determines its structure and content, where, in the first part, we deal with the concept of additional work, its theoretical and earlier legal concepts, and in the second, positive legal solution, to conclude its application in practice and possible practical significance in the future. The institute of additional work has yet to experience real affirmation. The role of additional work, as well as other forms of work outside the employment relationship, is important in returning to the legal flows of many illegal forms of work, especially "undeclared work". The commitment to ...     A suplementary work has existed in theory and legal solutions for a long time. This paper deals with the review of attitudes about the legal nature of the bywork, which can be in the form of employment or work without employment, depending on the determination of the legislator. Serbia's positive legal solution regulates it as a work outside the employment relationship. The methodological approach to the topic determines its structure and content, where, in the first part, we deal with the concept of additional work, its theoretical and earlier legal concepts, and in the second, positive legal solution, to conclude its application in practice and possible practical significance in the future. The institute of additional work has yet to experience real affirmation. The role of additional work, as well as other forms of work outside the employment relationship, is important in returning to the legal flows of many illegal forms of work, especially "undeclared work". The commitment to analyze the legal nature of the subject of this paper, which allows optimal practical use and importance in the labor market, is determined by previous experiences and knowledge about the importance of this institute in our country, which, unfortunately, are not based on clear, exact, data and indicators, because there is no relevant research on this, but they are based on well-founded, but rebuttable, assumptions ("praesumptio iuris tantum"). In the function of that goal, it is logical to ask questions about this institute and its impact on employment, in the context of sufficient or insufficient use by employers and potential executors of work in this form. For the author, the importance of each, regulated by law, a form of work engagement is indisputable, even in the conditions of theoretical and legal vagueness and imperfection.

    Keywords: additional work, work outside employment, law, Serbia.

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  3. Pavle Dakic and Vladimir Todorovic

    COST-EFFECTIVENESS AND ENERGY EFFICIENCY OF AUTONOMOUS VEHICLES IN THE EU
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    Abstract: One of the more important priorities of the European Union's environmental policy is to create greater transport efficiency. The mutual communication of the members of the European Union must be focused on the strategy of sustainable growth, supporting rapid scientific and technological changes in the economy and low carbon emissions. Aiming to reduce CO2 emissions, it is necessary to follow the rules in the construction of infrastructure with the use of alternative fuels and forms of energy in the transport sector. In this regard, today's autonomous vehicles use combined energy sources. Their use requires the stability of the infrastructure in the form of electric chargers with different charging characteristics. This paper presents the current availability of necessary resources within the European Union. The need for sustainable development is reflected in the application of ...     One of the more important priorities of the European Union's environmental policy is to create greater transport efficiency. The mutual communication of the members of the European Union must be focused on the strategy of sustainable growth, supporting rapid scientific and technological changes in the economy and low carbon emissions. Aiming to reduce CO2 emissions, it is necessary to follow the rules in the construction of infrastructure with the use of alternative fuels and forms of energy in the transport sector. In this regard, today's autonomous vehicles use combined energy sources. Their use requires the stability of the infrastructure in the form of electric chargers with different charging characteristics. This paper presents the current availability of necessary resources within the European Union. The need for sustainable development is reflected in the application of technology to reduce the consumption of fossil fuels, lower vehicle maintenance costs, tax relief when buying them, less noise on the roads, and energy efficiency. Technological innovations must be in line with more efficient solutions in the application of autonomous software based on which software companies measure the efficiency of electricity consumption. Observing the global economic crisis, the tendency of economic efficiency versus political reality is gradually emerging. The challenges imposed on the European Union give rise to new ideas in creating inclusive growth in research and innovation.

    Keywords: European Union, sustainable development, autonomous vehicles, electric chargers, technological innovations, software, statistical analysis.

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  4. Nargiza Karkashadze and Shura Ukleba

    UNEMPLOYMENT AND MIGRATION IN GEORGIA AT THE MODERN STAGE
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    Abstract: The article "Unemployment and Migration in Georgia at the Modern Stage" outlines the importance of migration, its problems and causes. Both the pros and cons of migration are analyzed. The article provides statistics on internal and international migration. There is also a list that affects the country from which he/she travels and the country from where he/she leaves. The article also mentions the main driving force of migration, which is remuneration. A comparative analysis has been made between the increase in the average salary level of the EU and other countries in the world and the increase in the level of salaries in Georgia, from which the situation is clearly ... The article "Unemployment and Migration in Georgia at the Modern Stage" outlines the importance of migration, its problems and causes. Both the pros and cons of migration are analyzed. The article provides statistics on internal and international migration. There is also a list that affects the country from which he/she travels and the country from where he/she leaves. The article also mentions the main driving force of migration, which is remuneration. A comparative analysis has been made between the increase in the average salary level of the EU and other countries in the world and the increase in the level of salaries in Georgia, from which the situation is clearly deplorable in terms of remuneration. The article also mentions one of the reasons for migration, which is the desire to get an education. Statistical analysis in this regard gives a natural idea that the highest rate is 25-29 years, as well as 20-24 years. The paper also discusses the benefits that migration brings, namely remittances. The article also talks about unemployment and its causes. However, it is said that the pandemic caused the greatest damage to the population of the country and therefore even more people became eager to go abroad for work. The article provides a statistical analysis of migration and unemployment and outlines ways to solve unemployment problems.

    Keywords: migration, unemployment, internal migration, international migration.

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  5. Branka Markovic, Maja Radic, and Sanel Cemer

    STATISTICAL ASSESSMENT OF THE VITICULTURE AND WINE SECTOR OF BOSNIA AND HERZEGOVINA ON THE MARKET OF THE CEFTA COUNTRIES
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    Abstract: To attract foreign investors, it is necessary to do analysis and research of certain segments of the economy, which can be claimed to be able to bring new jobs. The Sector of Viticulture and Enology in Herzegovina is of special importance. That it has its own special significance can be supported by research and data obtained by FAO (2012) where approximately 11,000 people are directly or indirectly involved in this sector. Statistical analysis can provide a picture of the real situation in the sector. For each new investment that will be the foundation of the country's economic growth and development, more detailed statistical analyzes are needed. When foreign investors can have a complete and real insight, the inflow of foreign investments becomes a reality. Foreign investments are of great importance and great and serious attention is paid to their study. The subject of ...     To attract foreign investors, it is necessary to do analysis and research of certain segments of the economy, which can be claimed to be able to bring new jobs. The Sector of Viticulture and Enology in Herzegovina is of special importance. That it has its own special significance can be supported by research and data obtained by FAO (2012) where approximately 11,000 people are directly or indirectly involved in this sector. Statistical analysis can provide a picture of the real situation in the sector. For each new investment that will be the foundation of the country's economic growth and development, more detailed statistical analyzes are needed. When foreign investors can have a complete and real insight, the inflow of foreign investments becomes a reality. Foreign investments are of great importance and great and serious attention is paid to their study. The subject of research within this paper is the analysis of the state of the viticulture and winemaking sector in Bosnia and Herzegovina as a basis for all foreign investments and one of the most important elements of technical and technological development of the country. With the increase in foreign investment, most investors complain about the existence of the so-called "hidden data" that were not presented to them when entering the investment. In addition, there are also remarks on the slowness of the administration and the like. When it comes to foreign direct investment (FDI), it must be said that they are a form of investment in which investors secure the right of ownership, control, and management over the company in which certain funds are invested to achieve some long-term economic interest. The main goal of this paper is a statistical analysis of the complete economic and social role of viticulture and winemaking in BiH within certain macroeconomic and institutional frameworks of BiH and their comparison with development in other similar transition countries. The analysis of the situation and the indicated comparisons should provide a basis for faster development of the sector in the light of BiH's approach to EU integration and its announced candidate status.

    Keywords: statistical analysis, time series, estimation, EU market, CEFTA.

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  6. Dragan Nikolic, Veljko Radicevic, and Zoran G. Pavlovic

    MODELING OF ARCHITECTURE AND INFRASTRUCTURE OF INNOVATIVE MODEL OF E-BUSINESS
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    Abstract: The concept of e-business implies the realization of business activities through hardware and software components and the Internet between stakeholders. It is usually a digitized process between the user and the service provider. For companies, in addition to the above, the modeling of architecture and infrastructure in an innovative model of electronic business is of great importance. By applying innovative models of electronic business, the company realizes new communication channels with the user, where there is also a reduction in costs (computer equipment for issuing services, business premises, employee salaries, insurance…) that directly affect the business. As a result, revenues increase, and more investment funds remain to gain a competitive advantage in the transport market. This paper presents the following components . . .     The concept of e-business implies the realization of business activities through hardware and software components and the Internet between stakeholders. It is usually a digitized process between the user and the service provider. For companies, in addition to the above, the modeling of architecture and infrastructure in an innovative model of electronic business is of great importance. By applying innovative models of electronic business, the company realizes new communication channels with the user, where there is also a reduction in costs (computer equipment for issuing services, business premises, employee salaries, insurance…) that directly affect the business. As a result, revenues increase, and more investment funds remain to gain a competitive advantage in the transport market. This paper presents the following components: physical IT infrastructure architecture, e-business infrastructure architecture, e-business infrastructure management, e-business services, and quantitative components infrastructure. Based on the above, a model of electronic business was developed with the integration of the services of the railway and road service provider with the services of the bank for the realization of money transactions. E-business services in the innovative model include the creation of content that is tailored to users, the management of processes for procurement, selection and payment of services, the implementation of money transactions and analysis of collected data. The paper represents the initial guidelines and the basis for application in other companies to improve business, improve the quality of service with the help of digitalization of business processes.

    Keywords: digitization, electronic services, service provider, user, business process management.

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  7. Zoran G. Pavlovic, Veljko Radicevic, and Dragan Nikolic

    DATA PROTECTION TECHNOLOGIES IN DIGITAL BUSINESS PROCESSES
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    Abstract: With the development of the Internet, new technologies are being applied in the business of both companies and individuals. Companies that trade or provide services already use Internet opportunities for their needs, and that means the realization of financial transactions. One important parameter can be singled out, which can be a problem for companies and users. This parameter refers to the security of sending and receiving money via the internet network. In addition to algorithms for secure online business, blokčejn technology is currently the most common technology used in cryptocurrency mining. Blokčejn technology can be seen as a new feature, a tool for embedding in information systems and technologies with application in digital banking. The application of ...     With the development of the Internet, new technologies are being applied in the business of both companies and individuals. Companies that trade or provide services already use Internet opportunities for their needs, and that means the realization of financial transactions. One important parameter can be singled out, which can be a problem for companies and users. This parameter refers to the security of sending and receiving money via the internet network. In addition to algorithms for secure online business, blokčejn technology is currently the most common technology used in cryptocurrency mining. Blokčejn technology can be seen as a new feature, a tool for embedding in information systems and technologies with application in digital banking. The application of new possibilities of Blokčejn technology brings rapid development in the environment. The world's powerful are already investing a lot of money in Blokčejn technology because they hope to make a lot of money. In Serbia, in the last 10 years, the use of electronic payment is on the rise, but still at a low level. The greatest influence on the use has the suspicion of the user (participant) in the security of the entire process that takes place in the network. The paper will explain the potential of Blokčejn technologies, the use of cryptography as a protection mechanism as well as the application of algorithms. Cryptographic techniques allow the sender to mask the data, so that if someone tries to intercept, they do not get any information that they can misuse. This means that the recipient can retrieve the sent original data that is masked by the sender.

    Keywords: Blockchain technology, cryptography, network security, digital business processes, security algorithms.

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  8. Aleksandar Pesic, Bojan Labovic, and Dragan Vujovic

    ASSESSING THE ECOLOGICAL DIMENSION OF URBAN SUSTAINABILITY
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    Abstract: Since the assessment of the urban ecological sustainability should not reflect only objectively measurable conditions of the natural environment but also the subjectively understood sense of sustainability from a local community’s own point of view, understanding how residents perceive urban ecological sustainability is equally important as using existing objective environmental sustainability quantifications. Therefore, our empirical research, presented in this paper, is based on the assessment method that accurately measure subjective attitudes of residents and enables the comparison of ecological sustainability of different urban settlements. A sample of ...     Since the assessment of the urban ecological sustainability should not reflect only objectively measurable conditions of the natural environment but also the subjectively understood sense of sustainability from a local community’s own point of view, understanding how residents perceive urban ecological sustainability is equally important as using existing objective environmental sustainability quantifications. Therefore, our empirical research, presented in this paper, is based on the assessment method that accurately measure subjective attitudes of residents and enables the comparison of ecological sustainability of different urban settlements. A sample of 890 urban residents (453 females and 435 males) from seven cities in Central Serbia were surveyed using self-administered questionnaire that measure all the items on a five-point Likert scale. Data was collected through a combination of randomized street and online polling during January and February 2020, as well as during June and July 2020. The Kruskal-Wallis H test as a rank-based nonparametric test is used for data analysis. The results of the study showed that there was no significant difference in answers regarding to gender, however, there was a statistically significant difference when observing the level of education. Additionally, there were statistically significant differences in answers among the citizens of diferent urban communities sampled.

    Keywords: Ecological sustainability, Local community, Quantification, Subjective attitudes, Empirical research

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  9. Kiril Postolov and Boris Postolov

    THROUGH MOTIVATION TO JOB SATISFACTION OF THE EMPLOYEES IN THE IT SECTOR
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    Abstract: IT organizations use different strategies to achieve prosperity, to compete with their rivals and to increase their efficiency and effectiveness. When the employees of every IT organization are satisfied and motivated in achieving their tasks and goals, they can make progress and achieve success. The main theoretical goal of this paper is to find out how and to what extent, motivation affects the employees IT job satisfaction, especially in terms of financial motivation, good working conditions, career development opportunities, supervisors feedback and the employees involvement. In this paper we will conduct empirical research with a total of 8 questions to get a clearer image of how well and to what extent, motivation affects the IT employees job satisfaction. As the most acceptable choice, ...     IT organizations use different strategies to achieve prosperity, to compete with their rivals and to increase their efficiency and effectiveness. When the employees of every IT organization are satisfied and motivated in achieving their tasks and goals, they can make progress and achieve success. The main theoretical goal of this paper is to find out how and to what extent, motivation affects the employees IT job satisfaction, especially in terms of financial motivation, good working conditions, career development opportunities, supervisors feedback and the employees involvement. In this paper we will conduct empirical research with a total of 8 questions to get a clearer image of how well and to what extent, motivation affects the IT employees job satisfaction. As the most acceptable choice, we are going to use The Likert scale, with the respondents expressing their agreement or disagreement through a five-point scale (1= Strongly disagree…5 = Strongly agree). Based on the conclusions obtained, the hypotheses (types of job satisfaction motivation) will be tested, with regard to their acceptance or rejection, and one specific conclusion will be obtained. In addition to their own research, other research techniques will be used within the paper to support the issue with relevant arguments and data. The results of this research can be used a basis for further research, but also as a useful recommendation for the managers who would like to examine the level of motivation, the job satisfaction, and the interpersonal relationships within their organization.

    Keywords: motivation, job satisfaction, IT company, feedback, safety.

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  10. Veljko Radicevic, Zoran G. Pavlovic, and Dragan Nikolic

    ANALYSIS OF MOBILE TECHNOLOGIES AND APPLICATIONS
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    Abstract: Technologies represent a means or an opportunity for the realization of an activity or process. Internet technologies enable communication between service users and servers via a computer network. It includes software and hardware components of the client and server that exchange messages within communication with Internet standards and protocols. The development of the Internet and digital business in recent years has led to changes in the amount and types of information available. Applications can communicate with databases, application servers, content management systems, data warehouses, workflow systems, browsers, message queues, research and analytics web packages, and other applications to integrate services and business processes within a single enterprise. It is obvious that the boundaries that have traditionally ...     Technologies represent a means or an opportunity for the realization of an activity or process. Internet technologies enable communication between service users and servers via a computer network. It includes software and hardware components of the client and server that exchange messages within communication with Internet standards and protocols. The development of the Internet and digital business in recent years has led to changes in the amount and types of information available. Applications can communicate with databases, application servers, content management systems, data warehouses, workflow systems, browsers, message queues, research and analytics web packages, and other applications to integrate services and business processes within a single enterprise. It is obvious that the boundaries that have traditionally existed between database management systems, content management systems, data warehouses, and other data management systems are becoming less important and there is a great need for a platform that provides a single overview of all services. Mobile applications enable the connection and realization of digital activities via internet technologies. The user interface should be primarily tailored to users where usability parameters are important: efficiency, learning, and satisfaction. Based on the above, the authors created a starting point for the implementation of new applications. This paper presents mobile technologies and applications that are increasingly represented every day and provide users with various digital capabilities in wireless connection and exchange of requested data and services.

    Keywords: wireless technologies, digitalization of business processes, innovative business models, service user, service provider.

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  11. Maja Radic, Sanel Cemer, Mehmed Avdagic, and Branka Markovic

    PROTECTION OF SOCIAL AND ECONOMIC STANDARDS AND PROMOTION OF FAIR INTERNATIONAL TRADE IN THE GLOBAL WORLD
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    Abstract: Modern economic development of developing countries is largely influenced by the current uneven development of productive forces, in which most of the previous colonies were agrarian raw material pendants to developed industrial countries. The rapid growth of industrial production that has been observed so far in underdeveloped economies, and the need for rapid further development based on modern technology in developed countries, increasingly require a change in development and the importance of international trade for these underdeveloped countries. However, there is virtually no "fair" international trade in the global world, and the protection of social and economic standards is almost impossible in the global world. In many countries, especially in the underdeveloped, this results in a lack of fair international trade. Due to ...     Modern economic development of developing countries is largely influenced by the current uneven development of productive forces, in which most of the previous colonies were agrarian raw material pendants to developed industrial countries. The rapid growth of industrial production that has been observed so far in underdeveloped economies, and the need for rapid further development based on modern technology in developed countries, increasingly require a change in development and the importance of international trade for these underdeveloped countries. However, there is virtually no "fair" international trade in the global world, and the protection of social and economic standards is almost impossible in the global world. In many countries, especially in the underdeveloped, this results in a lack of fair international trade. Due to all this, the profit rate as a determinant of exports of goods and capital is declining. This can be seen as some specifics of modern capital. The role of capital exports today is changing quantitatively, qualitatively, as well as in its manifestations. Various phenomena give birth to opposite phenomena, influencing each other. In this sense, today we can say that the whole world is in a state of some mixed order: in which there is both the classical private capitalist competitive system, and the corporate capitalist (group collectivist) market system and the state collectivist system. It is evident that in the emergence of a new world order, among the main ones is the market through which the flows and destinies of nations and states will be managed.

    Keywords: communalism, values, chauvinism, social consequences, profit rates, exports, transnational enterprises.

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  12. Snezana R. Stojanovic and Danijela Milic

    THE EFFECTS OF INCORPORATING THE EU REGULATION IN THE SERBIAN LEGISLATION ON INVESTORS' PROTECTION
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    Abstract: The paper deals with the securities market in the Republic of Serbia and the protection of investors participating in this market, in accordance with EU standards. The development of the capital market and its transformation by incorporating the provisions of EU legislation into Serbian law is observed. Prior to the adoption of the new Capital Market Law, the existing legislation did not specifically regulate the protection of property investment intermediaries’ clients: in case of property fraud, clients of investment companies and investors could get the right to restitution only in court, dealing with the burden of additional costs. The result was ... The paper deals with the securities market in the Republic of Serbia and the protection of investors participating in this market, in accordance with EU standards. The development of the capital market and its transformation by incorporating the provisions of EU legislation into Serbian law is observed. Prior to the adoption of the new Capital Market Law, the existing legislation did not specifically regulate the protection of property investment intermediaries’ clients: in case of property fraud, clients of investment companies and investors could get the right to restitution only in court, dealing with the burden of additional costs. The result was that investors gave up investing, which negatively affected development of the capital market in the Republic of Serbia. To prevent such a praxis, the Republic of Serbia incorporate the EU regulation aiming to establish the sistem of investors' protection in case of negligent business of investment companies and without additional costs for the clients themselves. This also fulfills the obligation that Serbia has undertaken by signing the Stabilization and Association Agreement with the EU: to harmonize domestic legislation with EU legislation and standards, to improve the business environment in Serbia. The paper deals with the question of whether the new provisions really achieve investor protection and make recommendations for improving the current system.

    Keywords: Republic of Serbia; EU; capital market; investors; investment intermediaries; investors' protection

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