ECONOMICS - INNOVATIVE AND ECONOMICS RESEARCH JOURNAL <p>We are proud to present the magazine <strong>"ECONOMICS”</strong> Innovative and Economic Research Journal Oikos Institute in Bijeljina that comes out, continuously, twice a year. Oikos Institute is dedicated to the constant development of the journal.</p> <p>Based on the decision of the Ministry of Education and Culture of the Republic of Serbian, number 07.030-053-50-11 / 13 of 06.03.2013. year, approved the registration of "Oikos Institute" doo Bijeljina in the register of publishers, numbered 383 rd.</p> <p>Starting from the fact that most of the economic progress is based on innovation, ECONOMICS - Innovative and Economic Research Journal has focused primarily on knowledge economy and innovation. Only unpublished papers, that represent original scientific research, which contribute to the knowledge economy and innovation, are published in the journal.</p> <p>The reason is very simple: nothing happens in the world economy without being fundamentally connected with technological changes. Innovation is a key driving force that accelerates all kinds of social changes. Innovations and changes within the fourth industrial revolution are the most famous in the world of new technologies that shape the global economic and technological structure, international and local markets, as well as the entire socio-cultural system.</p> <p>The editorial board is edited by eminent professors and associates, as well as renowned scientific and research workers from the country and abroad.</p> <p>All published scientific papers subject to mandatory review by two independent reviewers. Accepted papers are published in English.</p> Oikos Institute - Research Centre en-US ECONOMICS - INNOVATIVE AND ECONOMICS RESEARCH JOURNAL 2303-5005 SUSTAINABLE DEVELOPMENT AND COMPETITIVENESS: IS THERE A NEED FOR GCI RECONSTRUCTION? <p><span class="fontstyle0">Starting from competitiveness as the ability of an entity (company, sector, state) to successfully increase sales on the domestic and/or international market, and through a balance surplus to create growing revenues for its company and/or residents, i.e. the entire country, the concept of competitiveness should be transformed according to today’s business conditions. Competitiveness was initially related to cost, and sales grew due to lower product prices, and later due to productivity and better product quality. Today’s consumer is not only interested in price and quality, but also in environmental sustainability and social responsibility, and customers are looking for sustainable products. This paper investigates the relationship between the Global Competitiveness Index (GCI) and the Sustainable Development Goals (SDG) index on a sample of 27 member states of the European Union in the period 2007-2017, with the main goal and purpose of determining the direction and strength of the relationship and creating a platform for the necessity of redesigning the GCI. The impact of climate change on the GCI was examined by the Sustainable Development Index. For this purpose, Difference GMM was used. The results show that SDG12 (waste generation) hurts competitiveness, while SDG14 (maritime, ocean conservation) has a positive impact on competitiveness. This study contributes to the ongoing discourse on the intersection of competitiveness and sustainability, providing a foundation for future discussions and potential reconstructions of indices that reflect the changing global environment.</span> </p> Lorena Škuflić Sandra Šokčević Maja Bašić Copyright (c) 2024 2024-02-02 2024-02-02 12 1 ANALYSIS OF THE PUBLIC TRANSPORT EFFICIENCY, PRODUCTIVITY AND ECONOMIES OF SCALE: THE CASE OF SFAX – TUNISIA <p>This study aimed to determine the efficiency and productivity of the production factors in the case of public transport in Sfax – the sec-ond most important agglomeration in Tunisia–. The analysis of factor productivity enabled identifying the shortcomings in the supply of this service and advocating certain strategies to boost supply. We use an estimation of the trans-logarithmic costs function with different restrictions while relying on the foundations of the microeconomic theory. We relied on annual statistical data from the Regional Trans-port Company in Sfax over the period preceding the COVID 19 crisis spanning from 1985 to 2018. The estimation results showed the pres-ence of scale diseconomies, the gain in productivity over the years is too slow. The technical progress of public transport in Sfax is very low and the technical efficiency is also very limited. The results revealed that there is a decline in productivity growth due to a growing ineffi-ciency throughout the study period. The underutilization of production capacities in the transport sector was judged as a consequence of excess of capacity and lack of effi-ciency attributed mainly to the lack of competition. The study identi-fied some external factors that have an impact on the measured effi-ciency but are outside the company control. Public authorities should act on these factors to help companies improve their performance. A deregulation of the public transport sector by redefining the most important objectives has become urgent.</p> Lassaad Makhlouf Kamel Helali Copyright (c) 2024 ECONOMICS - INNOVATIVE AND ECONOMICS RESEARCH JOURNAL 2024-02-11 2024-02-11 12 1 10.2478/eoik-2024-0004 THE ROLE OF STRESS TESTS IN ENHANCING BANK TRANSPARENCY: A COMPARATIVE STUDY OF ISLAMIC AND CONVENTIONAL BANKS <p>The global financial crisis highlighted the crucial role of stress tests in evaluating a bank’s resilience to severe economic shocks. Accordingly, the purpose of the study was to examine the contribution of stress tests to credit risk in terms of hedging banking opacity and improving finan-cial resistance against negative shocks in MENA countries, observed for the period from 2012 to 2022. Furthermore, , this study explores the impact of stress tests on enhancing bank transparency, particularly within the contexts of Islamic and conventional banking systems us-ing the Panel-VAR and GMM approach. A conceptual framework is established to explain the connection between stress testing and bank transparency, emphasizing on the mechanisms through which stress tests can promote greater disclosure and accountability. A compara-tive analysis of stress testing practices across both banking sectors re-veals similarities and distinctions in scenario selection, modeling tech-niques, and disclosure practices. In-depth case studies of Islamic and conventional banks illustrate the practical application of stress testing in fostering transparency. These results show that stress tests produce information about credit risk exposure and about the real conditions of financial institutions. Therefore, more transparency on bank losses and risks would have also enabled bank regulators to focus more attention on financial institutions and react early to take “corrective measures”. Policy recommendations are drawn to enhance the effectiveness of stress testing in promoting transparency and financial stability within both Islamic and conventional banking sectors. This study contributes to a deeper understanding of stress testing’s role in fostering a more resilient and stable financial system.</p> Ines Khammassi Talel Boufateh Kamel Naoui Mahmaod Alrawad Abdalwali Lutfi Copyright (c) 2024 ECONOMICS - INNOVATIVE AND ECONOMICS RESEARCH JOURNAL 2024-02-17 2024-02-17 12 1 10.2478/eoik-2024-0003 IMPROVING ENVIRONMENTAL PERFORMANCE THROUGH INNOVATIVE ACADEMIC CITIZENSHIP BEHAVIOUR: GREEN TRAINING AND DEVELOPMENT, GREEN RECRUITMENT AND SELECTION AS ANTECEDENTS IN JORDANIAN GOVERNMENT UNIVERSITY <p><span class="fontstyle0">Education institutions are thought to be largely responsible for environmental pollution even though businesses of all shapes and sizes contribute to this issue. This research explores how important factors might help government universities in Jordan develop and implement green innovation. It seeks also to examine whether the academic citizenship behaviour is a mediating variable that explains the connection between green training and development, green recruitment and selection, and organization environmental performance. Accordingly, an email survey was conducted to collect responses from 404 employees in the Jordanian Government universities. The study used contemporary variance-based structural equation modelling (AmosSEM) for data analysis and hypothesis testing. The obtained results indicated a positive association between green training and development and two variables, namely academic citizenship behaviour, and organization environmental performance. They also indicated a positive association between green recruitment and selection and two variables, namely, academic citizenship behaviour and organization environmental performance. As well as between academic citizenship behaviour and organization environmental performance. Furthermore, they showed mediating effects of academic citizenship behaviour in the relationship between green training and development and organization environmental performance and between green recruitment and selection and organization environmental performance. This paper helps to provide insights to HRM practitioners, shedding light on the importance of Green HRM practices and their role in enhancing organization environmental performance.</span> </p> Mohammad Noor Khaled m Alqudah Yusnita Yusof Copyright (c) 2024 2024-02-02 2024-02-02 12 1