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Book of Abstracts

8th INTERNATIONAL SCIENTIFIC CONFERENCE OF BUSINESS FACULTY

“ECONOMIC POLICY AND EU INTEGRATION”

Durrës, Albania, 4 - 5 May, 2018

ECONOMIC POLICY AND EU INTEGRATION

2

8th International Conference

“ECONOMIC POLICY AND EU

INTEGRATION”

Organized by Faculty of Business

University “Aleksandër Moisiu” Durrës

May 4 - 5, 2018

Durrës, ALBANIA


3

EDITORS: Dr. Ela Golemi, Dr. Mirela Tase, Dr. Arjeta Hallunovi, Dr. Alma

Zisi

Conference Proceedings include papers that reflect results of theoretical and

practical research of university, faculty, staff of academic organizations and

institutions.

The proceedings have not been amended or proofread and editors are not

responsible for the language used in paper.

SCIENTIFFIC COMMITTEE

SOTIROFSKI Kseanela, Rector of University “Aleksandër Moisiu” Durrës,

Albania

TARTARAJ Azeta, Dean of Business Faculty, University “Aleksandër Moisiu”

Durrës, Albania

GOLEMI Ela,Vice Dean of Business Faculty, University “Aleksandër Moisiu”

Durrës, Albania

PRENDI Llambi, Vice Dean of Business Faculty, University “Aleksandër

Moisiu” Durrës, Albania

ALBAGLI Claude, President of CEDIMES Institute, France

BEZHANI Eda, Senate member, University “Aleksandër Moisiu” Durrës,

Albania

CEROVIĆ Bozidar, President of ASECU University of Belgrade, Serbia

CUCLLARI Frederik, Dean of Economic Faculty, University “Fan S.Noli”

Korcë, Albania

DRAGUSHA Blerta, Dean of Economic Faculty, University “Luigj Gurakuqi”

Shkodër, Albania

DEDAJ But, Dean of Economic Faculty, University of Prishtina, Kosovo

FORTUZI Shkëlqim, University “Aleksandër Moisiu” Durrës, Albania

HOTI Afrim, University “Aleksandër Moisiu” Durrës, Albania

HORSKA Elena, Slovak University of Agriculture, Nitra, Slovakia


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KOÇI Ervin, Executive General Director, Financial Supervisory Authority,

Albania

KUME Kristaq, University “Aleksandër Moisiu” Durrës, Albania

KULE Dhori, Dean of Economic Faculty, University of Tirana, Albania

LATIFI Juliana, Chair of The competition Commission, Competition Authority,

Albania

MEMA Mit’hat, University “Aleksandër Moisiu” Durrës, Albania

NOTI Elton, University “Aleksandër Moisiu” Durrës, Albania

OSMANI Elez, Institute for Research and Development, Montenegro

QARRI Albert, Dean of Economic Faculty, University “Ismail Qemali” Vlorë,

Albania

RUSPI Ermonela, Dean of Economic Faculty, University “Eqrem Çabej”

Gjirokastër, Albania

SEJDINI Imelda, Dean of Economic Faculty, University “Aleksandër Xhuvani”

Elbasan, Albania

SCALERA Francesco, University of Bari “Aldo Moro”, Italy

SOKOLI Lekë, University “Aleksandër Moisiu” Durrës, Albania

TSEKOURAS Yannis, Honorary President of ASECU University of Macedonia,

Greece

TOMA Ernesto, University of Bari “Aldo Moro”, Italy

ZAROTIADIS Grigorios, Aristotle University of Thessaloniki, Greece

ORGANIZATIONAL COMMITTEE

Executive Committee

TARTARAJ Azeta, Dean Faculty of Business, University “Aleksandër

Moisiu”, Albania

GOLEMI Ela, Vice Dean for Scientific Research, Faculty of Business

PRENDI Llambi, Vice Dean for Education, Faculty of Business


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ALIAJ Ada, Head of Department of Finance

CINAJ Nevila, Head of Department of Tourism

MERKO Flora, Head of Department of Economics

MYFTARAJ Ervin, Head of Department of Marketing

NEXHIPI Olta, Head of Department of Management

Programme Committee

TASE Mirela

HALLUNOVI Arjeta

ZISI Alma

HASRAMA Erjonilda

MAMO Jonada

SHAHINI Ermir

SULA Oliana

Local Arrangements

KASA Arlind

LIÇAJ Denada

XHERAJ Dorina

KULLOLLI Taulant

Conference Secretariat

CANIA Luftim

NEZA Violeta

Press and Communication

KOLA Blerim

MEHMETI Valbona


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TABLE OF CONTENTS

The impact of reward policies on motivation: The case of Albania

Azeta TARTARAJ, Besart NUSHI ................................................................................15

Consumption shocks and GDP responses in Albania

Agim NDREGJONI, Jonida GASHI...............................................................................16

Fiscal cadastre

Alba RAMALLARI , Gentjan RAMALLARI.................................................................17

CPI analysis in Albania compared to Balkan countries

Alisa KOPRENCKA.......................................................................................................18

Testing the wagner’s hypothesis for the case of Albanian economy

Altin GJINI, Mentor BEQA............................................................................................19

The economic opportunity to recover waste in source and the challenges of Albanian

government with public raising awareness

Ana KEKEZI....................................................................................................................20

Trade of insurance in Albania, geographical distribution and types of them

Ariola HARIZI, Myfarete MALASI................................................................................21

Cultural heritage and sustainable tourism in Durres

Arlind KASA, Nevila ÇINAJ..........................................................................................22

Leasing – A new standard for old contracts

Armela ANAMALI, Alma ZISI, Bitila SHOSHA...........................................................23

Urgent measures to be taken for enabling financial inclusion in Albania

Artur RIBAJ....................................................................................................................24

The reimbursement scheme and its performance

Artur STAFA...................................................................................................................25

Quality of Albanian institutions within European integration framework

Besa SHAHINI, Majlinda KETA....................................................................................26


7

Financing constrains of SME

Besa XHAFERRI, Gjilnaipe BEXHETI, Blerina ISENI.................................................27

Entrepreneurship obstacles: Comparative approach

Besa XHAFERRI, Elvira FETAHU, Arlinda ZEQIRI....................................................28

The impact of community law on the reformation of the legislation in the field of tourism

in Albania

Bledar ABDURRAHMANI.............................................................................................29

The juridical mechanisms of Security Council of the United Nations

Blendi ÇALI, Laurena KALAJA.....................................................................................30

Understanding entrepreneurial intentions of Albanian business students based on the

theory of planned behavior

Blendi SHIMA, Babu GEORGE.....................................................................................31

The role of employees in providing services. The case of Albanian businesses

Blerim KOLA, Taulant KULLOLLI..............................................................................32

Development of public-private partnership in the tourism sector and its impact on

Albania's economic growth. Let's learn from neighbors! A Comparative case with

Montenegro

Blerina DERMISHAJ......................................................................................................33

Flash mob marketing as a promotional strategy

Brunilda LIÇAJ, Leida MATJA......................................................................................34

Gender diversity and firm performance

Caterina AURA, Francesca AURA, Franco RUBINO....................................................35

Les politiques économiques des pays européens à la lumière des chocs mondialisés

Claude ALBAGLI................................................................................................. ..........36

Renewable and non-renewable electricity consumption, carbone emission and GDP:

Case of Tunisia

Claude ALBAGLI, Rahma Ben NAYA, Francesco SCALERA....................................37

https://www.google.com/search?q=entrepreneurship&spell=1&sa=X&ved=0ahUKEwjF3PflxsHaAhXBJ5oKHdGiD5EQkeECCCMoAA


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Potentials and perspectives for development of short tourist offers in countries of

Adriatic Coast and Hinterland

Darko PETKOVIC, Nebojša VASIC, Alaudin BRKIC..................................................38

Coordination of public investments in the function of their efficient management

Dorjan TELITI.................................................................................................................39

Moral tax determinants

Elton KARAPICI, Gentiana FILIPI.................................................................................40

The impact of packaging and its elements in the consumer behavior

Eda BEZHANI.................................................................................................................41

E-Government and its impact to the public

Edona ZENELI................................................................................................................42

Estimating the drivers of De-Euroization in Albania

Ela GOLEMI....................................................................................................... .............43

Social return on investments: Economic, financial and sustainable aspects

Elisabetta VENEZIA, Fabio PIZZUTILO.......................................................................44

Banking sector in Albania and some key performance indicators of second tier banks

Enida ISTREFI, Juliana IMERAJ, Jonida LAMÇJA......................................................45

The influence of e-management of maritime shipping companies for business successful

Erald BERBERI, Denada LIÇA BERBERI....................................................................46

Assets and liability management in Albanian banks

Eridana GJONI...................................................................................................... .........47

Macro determinants of real exchange rates: Albanian case

Ermira KALAJ, Ela GOLEMI.......................................................................................48

Reintegration of migrants returned to their country of origin (Empirical analysis,

Albanian case)

Esmeraldo XHAKOLLI, Daniela LIKA.......................................................................49


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The generational transition of the family enterprise

Eusebio De MARCO, Patrizia Di BARI, Francesco SCALERA....................................50

The impact of fiscal and monetary policies on macroeconomic stability in Albania

Evis KUMI, Eralda SHORE. ..........................................................................................51

Role of correlation and weight on risk and return of a portfolio: An experimental

analysis

Fitim DEARI, Izet ZEQIRI.............................................................................................52

The correlation between institutional efficiency and Albanian mass emigration

Flora MERKO, Ermir SHAHINI....................................................................................53

Short-term forecasting technique of financial assets by using classification analysis

Francesco D. d’OVIDIO, Najada FIRZA.......................................................................54

A study on security and attacks on social networks at “Aleksander Moisiu” University

Gaqo TANKU, Piro TANKU.........................................................................................55

IFRS 9 implementation in the Albanian banking sector

Gentiana FILIPI, Vjollca KARAPICI............................................................................56

The differences between the accounting and tax reporting. Case of Albania

Halit XHAFA, Amarilda KULLI..................................................................................57

Market entry strategies: Understanding customers risk avoidance; Long vs. Short-term

orientation and the definition of time

Hans O. SCHUMANN..................................................................................................58

Growth, inequality and poverty: Case of Balkan Countries

Houcine BOUHAJEB...................................................................................................59

The current problems of labor market in Albania: The need to apply intervention

measures

Ina BALUKJA....................................................................................................... ......60

Management innovation as a source of sustainable competitive advantage

Ina KEÇI......................................................................................................................61


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Development of accounting regulation in Montenegro - Financial reporting standards

and the reporting needs of SMEs

Ivana TOMASEVIC, Sandra DJUROVIC.......................................................................62

Business strategies: A key to being successful in the Republic of Macedonia

Izet ZEQIRI, Brikend AZIRI, Jeton MAZLLAMI..........................................................63

Conventions and stereotypes as key perception factors influencing the choice of selected

farm-to-table products

Jana RYBANSKA, Ľudmila NAGYOVA, Elena HORSKA..........................................64

The challenges of insurance companies market in Albania

Jonada MAMO, Ada ALIAJ, Ina SHEHU......................................................................65

An analysis for socio-economic inequalities

Jonida GASHI, Agim NDREGJONI..............................................................................66

Unequal geographic distribution of industrial firms in the central of Tunisia: A

comparison of two adaptive models

Kais BEN-AHMED, Faysal MANSOURI.....................................................................67

Constructing the spatial weights matrix using a variogram: An application to firm

location in the center of Tunisia

Kais BEN-AHMED, Faysal MANSOURI.....................................................................68

A Bayesian-based approach for statistical local modeling of visceral leishmaniasis

incidence in Tunisia

Kais BEN-AHMED.......................................................................................................69

E-Commercein Albania

Kiti SHABANAJ...........................................................................................................70

Marketing management challenges

Kozeta LIGEJA.............................................................................................................71

Determinants of export in transition economies: Evidence from the South East Europe

(SEE-6) and Commonwealth of Independent States (CIS)

Kushtrim BRAHA, Artan QINETI, Ema LAZORČAKOVA, Luboš SMUTKA........72


11

Regional development as an equalization of opportunity: Empirical evidence from

Tunisia

Lamia MOKADDEM, Imtinen BEN SAIED..................................................................73

The impact of VAT on the development of Albanian tourism industry

Leida MATJA, Brunilda LIÇAJ......................................................................................74

Labor market in the tailoring industry (Fason) in the city of Durres

Llambi PRENDI, Entela VELAJ, Antoneta DHIMA......................................................75

The importance of intellectual capital management in an economy

Ludo PYIS, Ornela KULLOLLI, Ela GOLEMI..............................................................76

Career management – an empirical study of Albania

Luftim CANIA, Bajram KORSITA, Erisa MUSABELLIU............................................77

Ecotourism, an opportunity for sustainable development in the Lalez Bay - Cape Rodoni

area

Majlinda MUKA, Dorina XHERAJ (SUBASHI)............................................................78

Predictive diversity and inclusion analytics. Some useful modern Bayesian statistical

tools

Marcello De GIOSA........................................................................................................79

Evaluation of the public expenditures effectiveness in the market economy based on the

economic value concept

Marián KOČNER, Anton ČIERNIK, Igor TURUK.......................................................80

Creation of agricultural cooperative as an instrument for development sustainable

policy case: Albania

Mariglen URUÇI, Emiraldo PRIFTI..............................................................................81

The proportionality principle in the EU

Marsida FESHTI (MUÇA), Jurgen GOLEMI...............................................................82

Right to property in Bulgaria in the period 1990 - 2018 year: Regulatory and

administrative issues

Milena KARADJOVA..................................................................................................83


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The potentials and challenges of developing sustainable and safe tourism: Albania case

Mirela TASE, Manjola XHAFERRI, Arjeta HALLUNOVI...........................................84

Influence of macroeconomic factors in failure of return of bank loans in Kosovo

Nagip SKËNDERI, Flora MERKO.................................................................................85

Cash and financial flows. Policies and implication from the Albanian perspective

Natasha AHMETAJ.........................................................................................................86

Challenges and opportunities for Albania in the path towards the European Union

Integration

Noemi Maria ROCCA.....................................................................................................87

Can the public recognize the quality of the banks?

Novo PLAKALOVIC, Boško MEKINJIC......................................................................88

Perspectives of digital integration in Western Balkans

Oliana SULA, Zamir HOXHA, Olta NEXHIPI..............................................................89

Smart villages: a solid approach to revive Albanian agriculture

Petraq PAPAJORGJI.......................................................................................................90

The “Hype cycle” model challenge

Raffaella GIRONE..........................................................................................................91

Direct marketing among companies in the Pollog region

Raman ISMAILI, Brikend AZIRI..................................................................................92

Italian "Borghi": Tourist valorization of environmental and cultural heritage

Rosalina GRUMO, Simona GIORDANO.....................................................................93

The network contract as an instrument of growth in SME

Sabrina SPALLINI, Domenico VIOLA........................................................................94

Insuring hurricanes: Perspectives, gaps, and economic impact on the alternative capital

market after 2017

Sara KEÇI, Teuta THANASI.......................................................................................95


13

The management of work behavior as a function of job satisfaction

Sanie DODA, Soniela DODA.....................................................................................96

New economies, new geographies. A framework for European territorial policies

Sergio CONTI..................................................................................................................97

Photography as a key element in conveying the message to the targeted consumer

groups

Shaip BYTYÇI, Xhulja KURTI.......................................................................................98

Fullfillment of political criteria of Kopenhagen as a condition for negotiations of the

Republic of Macedonia on European Union Integrations

Sheherzada MURATI, Antigona ALILI, Isak AJRULI...................................................99

The control of interest rates, in the Bank's desicions

Stela AJDINAJ, Mauro BISCEGLIA, Matilda SHINI..................................................100

Albanian characteristics of fiscal policy and their impact on fiscal evasion

Tatjana ELEZI................................................................................................................101

Management practices as new working methods or innovationsintroduced to give

companies the competitive edge

Valbona MEHMETI, Erisa MUSABELLIU.................................................................102

Development of games of chance in Albania under conditions of economic crisis and the

need for intervention of the player's defense legislation

Valbona SOTIRI, Ardit KORBI, Valentin LOKA.......................................................103

Importance of creative in tourism growth

Violeta ALIAJ..............................................................................................................104

E-money and tourism

Vito CALIANNO, Iris CEKANI, Francesco FAVIA..................................................105

The role of the private sector in the development of Albania, Public-Private Partnership

approach

Voltiza PRENDI...........................................................................................................106


14

Market concentrations and their influence in the market structure and competition their

trend in Albania

Zoica KOKAVESHI (ZHARKALLI), Servete GRUDA, Albana DIBRA..................107

Cycle economique des pays de la cedeao: Identification et caracteristiques

Zoundji Déo-Gratias ORPHEE....................................................................................108


15

The impact of reward policies on motivation: The case of Albania

Azeta TARTARAJ1

Besart NUSHI2

Abstract

Maximising employee performance and is one of the main concerns of Human Resource

Managers who seek to implement the most effective policies that will drive employee

motivation. The purpose of this research paper is to discuss the reward policies and

theories of motivation that have been identified as sources of motivation in the context

of Albania. The paper includes the use of primary research in order to come at a

conclusion on which reward policies are the most effective in the Albanian environment

and explores the reasons of such outcomes. Furthermore, suggestions are given for

managers in the country who would be interested in motivating their employees in an

Albanian organization.

Key words: Motivation, Human Resources, Reward, Efficiency, Policy

JEL classification: J24, O15, M14

1 Prof. Asoc. Dr., Dean, Faculty of Business, University Aleksandër Moisiu Durrës, Email: [email protected] 2 MSc., Sales Enamblement and Effectiveness, Vodafone Albania, Email: [email protected]

mailto:[email protected]


16

Consumption shocks and GDP responses in Albania

Agim NDREGJONI1

Jonida GASHI2

Abstract

In the economy, the decline or increase of GDP is related to the increase or decrease of

Consumption, Investments, Government Expenditures, Exports and Imports. This

article, through estimates of variation coefficients, explains whether the economic

volatility of GDP and consumption have moved together over the period 2002-2016.

This article explores that the economic volatility of consumption for this period has

grown more than the volatility of the GDP. Moreover, it examines the impulse response

functions that GDP and its components react to each other, indicating that consumption

is more volatile than other components of GDP and GDP itself.

Key words: Consumtion Shocks, Economic Growth, Economic Volatility, Impulse

Response Functions

JEL classification: O47, E21, C50

1 Dr, University “Aleksandër Moisiu”, Faculty of Business, Economics Department, Durrës, Albania E-mail: [email protected] 2 PhD Candidate, University “Aleksandër Moisiu”, Faculty of Business, Economics Department, Durrës, Albania E-mail: [email protected]

mailto:[email protected]:[email protected]


17

Fiscal cadastre

Alba RAMALLARI1

Gentjan RAMALLARI2

Abstract

In many years of transition our country has gone through hardships to increase the

development pace. In particular increase in investments excluding costs of the public

finances. Fiscal parameters have changed several times striving to keep the fiscal

stability to an adequate level. For most developed countries, in the function of the fiscal

consolidation precautions are taken like, new policies and regulations such as: new

restrictions in the fiscal institutions, reviewing the budget regulators, etc. However, in

countries like Albania in which public debt and deficit are high, adequate and effective

solutions to finance the payments are needed. For many years now the only alternative

used has been generating revenues via privatizations and restructuring debt. Often the

tax policies were scrutinized to benefit as methods for financing. Recently a new tax is

introduced on property (the tax property) which will be a considerable sum to the

budget. This will be the main discussion on the topic, in particular; the amount of tax,

selection and payment.

Key words: Property Tax, Fiscal Policy, Land Property

JEL classification: H24, H71, K34

1 Dr, University “Aleksandër Moisiu”, Faculty of Business, Economics Department, Durrës, Albania, E-mail: [email protected] 2 National Authorizing Officer Support Directorate (NAOSD), Ministry of Finance and Economy, Albania, Email: [email protected]



18

CPI analysis in Albania compared to Balkan countries

Alisa KOPRENCKA1

Abstract

Price indices serve as a single and aggregate measure of all individual relative price

changes in a basket of goods, the consumer price index is widely used as a general

indicator of inflation and as a tool by the authority to track the price performance. In this

study, the CPI of Albania was analyzed against two other countries, analyzed by Panel

method. Using panel analysis and using the Eviews 7 program is generating a CPI

model depending on GDP and Employment. The study addresses the CPI data for

Albania, Macedonia and Bulgaria for a period of 14 years. The time data presentation

contains 42 observations (14 * 3 places). So, for three states we have information for 14

years and the frequency of surveys is one year. CPI data for 3 countries are balanced

panel data since the same number of observations for same periods has been conducted.

In the effects by country it is clear that Albania has the greatest effect of GDP and

employment followed by Macedonia. Bulgaria has a negative effect on the impact of

these variables on the CPI. However, the effects appear at low levels. With regard to

timely effects, the highest effect seems to have been in 2014. Prior to 2008, these effects

have been negative and from 2008 to 2017 have increased.

Key words: Price Index, GDP, Employment, Quality Variables, Multicolinearity

JEL classification: E2, E

1 Msc., Specialiste e Parë, Sektori i Zhvillimit të DPN1, Bashkia Tiranë, Email: [email protected]



19

Testing the Wagner’s hypothesis for the case of Albanian economy

Altin GJINI1

Mentor BEQA2

Abstract

This paper investigates the validity of Wagner’s Low, positive effect of economic

growth on public expenditures, for the case of Albania. The empirical work is based on balanced time series data, spanning from 1984 to 2016, downloaded from World Bank

data indicators and from the central bank of Albania. ADF, PP, and KPSS test on levels

and first differences are used for testing the presence of the unit root in each variable of

interest. Than after I use Johansen test, with the presence of constant term but without a linear time trend, for testing the co-integration between public spending and economic

growth. From the result of co-integration test we point out if the economy of Albania is

the case of Wagner’ Low. Also, by using Granger’s casualty test, I will try to investigate the flow of direction between government expenditures and economic growth. In the last

part I elaborate an augmented version of Wagner’s Low by adding in the model some

other explanatory factors such as government’s deficit, population, and inflation rate.

Key words: Granger Causality, Economic Growth, Government Expenditure, Wagner

Causality, Developing Countries

JEL classification: B23, C1, O40

1 Dr., University “Aleksandër Moisiu” Durrës, Albania, Fakulteti i Biznesit, E-mail: [email protected] 2 Fakulteti i Shkencave Politike Juridike, University “Aleksandër Moisiu” Durrës, Albania, E-mail: [email protected]



20

The economic opportunity to recover waste in source and the challenges of

Albanian government with public raising awareness

Ana KEKEZI3

Abstract

The paper discusses how waste management is yet one of the biggest challenges in

country for Albanian government at central and local level and how country and citizens

can have opportunity to benefit economically from waste following the EU Directives

and concerns. On this research, misperception and lack of information and knowledge

Albanian citizens on Waste to Energy , recovery phase of hierarchy of waste

management will be on focus, and what challenges the Albanian governments faces

ahead on this issue. This research is based on interviews with representatives of central

and local government; donors; foreign agencies that operate in country;

environmentalist; the two private companies that operate in these two PPP’s; combined

with questionnaires to media staff and the findings of mapping the citizens’ public

opinion in TV and new online media. This research will aim to witness the key findings

and recommendations that might offer a roadmap to stakeholders, especially to Albanian

Government, on how to raise awareness, spread the proper knowhow, firstly to citizens

as the crucial beneficiary impacted on government policies and secondly to media as

main and crucial actor.

Key words: Waste Management, Waste-To-Energy, Government, Citizens, Media,

Misperception, Awareness

JEL classification: D74, H1, Q01

3 Doctoral student in Management, Faculty of Economy, European University of Tirana, Tirana Albania, E-mail: [email protected]



21

Trade of insurance in Albania, geographical distribution and types of them

Ariola HARIZI1

Myfarete MALASI2

Abstract

Albania has around twenty years experience in Private General Insurance, and along this

years, trade experience is growing. The aim of this study is to analyse the trend of the

market, as well as coavarge of non-life lines available in the insurance market. Insurance

classes and their distribution are analyzed in proportion to their geographical spread in

different regions. In addition, it has been noted that the capital, the majority of insurance

policies are sold and other cities less in proportion to the type of contracts sold. The

Albanian insurance market has many opportunities for growth, development and better

service. Even payments for claims are increased, there is still much to be done to

improve customer service and general public. More claims are under cumulsory

insurance contracts and special motor insurance. On the other hand, Albanians are not

willing to buy many insurance contracts. This is mainly from low informations that they

have, and low incomes, and especially the lack of culture to provide voluntarly

insurances. Growth and development of marketing plans will improve the image of

insurance companies, offering a wide range of services at home and abroad, and a better

service to the costumers. Dispite the absolute increase in gross claims paid, a low ration

indicates that the market still has a lot to do in terms of improving costumer service and

public in general.

Educational and promotional campaigns for the public to raise awareness of good,

financial products and services, in line with enhancement of the quality of consumer

protection instruments, have been and will continue to be the strategic objective of the

Albanian Financial Supervisory Authority.

Key words: Insurance, Albania, Growth, Costumers, Market

JEL classification: E64, G23, H24

1 Msc, Financial Consultant and Tax Economist, Double S-Tax and Accounting Studio, Email: [email protected] 2 Msc, Specialist on Statistics of Tax and Fees, Municipality of Durrës-Department of Tax and Fees, Email: [email protected]



22

Cultural heritage and sustainable tourism in Durrës

Arlind KASA1

Nevila ÇINAJ2

Abstract

Today, tourism is an important economic development asset. In the past tourism had not

a relevant influence in the economy but in present day more and more it have an

important impact in economic development. This is a significant reason why the local

and central govern constantly pay attention on sustainable tourism. So, in this paper we

will analyze a case of sustainable tourism in Durres, an Albanian city. The study will be

focused in cultural heritage in Durres. In this study, I will give some data that I believe

that they are interesting to understand the impact of tourism in Durres. Also, I will

analyze and discuss some factors that have transform Durres in one of the most

important sustainable tourism destination in Albania and the role of city cultural

heritage. To study this, we will show and analyze the number of tourist that had visit the

roman amphitheater, Venetian Tower, Byzantine Wall, Byzantine Macellum/Forum,

Roman Public Bath and the Archaeological Museum of Durres.

Key words: Sustainable Tourism, Number of Tourist, Archaeological Site, Museum,

Income

JEL classification: Z32, J32, M

1 Doctor of Science, University “Aleksandër Moisiu” Durrës, Faculty of Business, Marketing Department E-mail: [email protected] 2 Doctor of Science, University “Aleksandër Moisiu” Durrës, Faculty of Business, Head of Tourism Department E-mail: [email protected]


23

Leasing – A new standard for old contracts

Armela ANAMALI1

Alma ZISI2

Bitila SHOSHA3

Abstract

The old lease accounting standard (IAS 17), despite several improvements over the

years, has always left open for discussion regarding the classification and accounting of

long-term lease contracts. The lease agreement has in essence the transfer of the right to

use an asset for a certain period of time versus one or several payments. But what

happens when contracts are longer than a year? Who from the parties of the contract

effectively controls the asset and disclose the information? The old standard solves this

situation by making a classification in operating and financial leasing, under certain

conditions. Again this arrangement does not provide a solution for long-run operating

leases. The two main shortcomings in the accounting of operating leases are the lack of

information regarding the nature of the transaction and the right to use the asset over the

years. An entity is using for some periods an asset whose currency value saved at the

time of the lease option against its acquisition. In addition, there is a lack of information

regarding the right to use an asset, which may be a significant burden on the entity's

rights. This leads to the need of developing a new standard for lease financial reporting,

IFRS 16. In this article, the authors make a comparative approach between the

standards, realizing the necessity of a new standard came, as well as the challenges that

will bring its implementation.

Key words: Lesase, Accounting Standard, Comparative Approach

JEL classification: M40, M41

1 Dr., Aleksandër Moisiu University, Department of Financë - Accounting, Durrës, Email: [email protected] 2 Dr., Aleksandër Moisiu University, Department of Economics, Durrës, Email: [email protected] 3 Dr., Aleksandër Moisiu University, Department of Finance - Accounting, Durrës, Email: [email protected]


24

Urgent measures to be taken for enabling financial inclusion in Albania

Artur RIBAJ1

Abstract

This paper presents the issues of Albania related to financial inclusion and the

recommendations to be taken in consideration based on results of qualitative and

quantitative research over public reports, surveys and interviews. Albania needs a

national financial inclusion strategy for fighting against poverty and enhancing

sustainable economic development of the country. This will contribute to achieve the

enabling of the easy access and reasonable cost to a whole range of financial services -

not just credit but also savings and payments - for individuals (regardless: the low level

of income, gender, age, very young or very old, location, rural or urban, etc.) and

businesses (regardless if they are: natural or legal person, small or large, with activities

in agriculture or commerce, in the village or town, etc.). The financial education is key

to understand what you sign when you invest. In Albania the level of financial education

is very low which affects the financial decisions of adults, their life and sustainability of

Albanian financial markets. Implementing obligatory financial education programs for

each target group reduce social effects and intermediaries’ financial risks, increase

healthy consumption and develop stable financial markets. Recommendations of this

paper demand the involvement of the Albanian Government, regulatory authorities and

other stakeholders for setting up a dedicated public structure as responsible for

implementing asap measures for each targeted segment. According to World Bank,

access to financial services made possible thanks to reforms. Albanian authorities

(MoFE, MoESY, BoA, AFSA, ACA) must amend the legal and regulatory framework

approaching EU Directives, OECD principles and best practices to enable competition

not concentration, transparency, access to finance for vulnerable segments and quality

financial services. By the other side, these authorities should supervise and take care

without allowing "shadow banking" and other financial intermediaries not subject to any

regulatory oversight, which is becoming a growing concern for supervisory authorities

worldwide and mainly for developing countries.

Key words: Financial Inclusion, Financial Education, Consumers, Regulatory

Authorities, Financial Intermediaries

JEL classification: E2; G21; H52; K23

1 Prof. Asoc. Dr., Faculty of Economics, University of Tirana, Email: [email protected]


25

The reimbursement scheme and its performance

Artur STAFA1

Abstract

The decision-making mechanism for health care, in terms of increasing reimbursement

costs and limited budgetary possibilities in Albania. The reimbursement cost dynamics

in 5 years (2012-2016), analyzed by: Beneficiaries, Districts, Drugs, Pharmacists and

Physicians. Developing a national health insurance policy towards wider coverage leads

to higher costs for health care and requires a good reimbursement system for healthcare

services. The decision to reimbursement drugs in Albania is in it’s transition period.

Decision-making on drug reimbursement requires the design of an effective

reimbursement list including budget impact and pharmacoeconomic assessment.

Pharmacoeconomic assessment plays an important role in decision-making efficiency

for reimbursement of medicines, although there are some barriers to overcome.

Key words: Refunds, Decision Making, Health Care, Medical Lists, Expense

JEL classification: G22, G23, I11

1 MSc., Fondi i Detyrueshëm i Sigurimeve Shendetësore, Email: [email protected], Email: [email protected]



26

Quality of Albanian institutions within European integration framework

Besa SHAHINI1

Majlinda KETA2

Abstract

This paper offers a critical review of Albanian efforts toward European Union, through

the modernizations of its institutions. It investigates as well in returns, the speed of

institutional development induced by European integration process. The main purpose

of this paper is to determine the role of institutional quality in the process of European

Union enlargement, analyze the progress of Albanian institutional development, and

assess its deficiencies in the framework of European integration. To achieve the

objectives we estimate a model through application of an ARDL bounds testing

approach to co integration proposed by Pesaran et al. (2001), in order to analyze the

relationships between institutional and various other key economic variables and

economic growth over the period 1995-2016. The empirical results obtained suggest

that, for the Albanian case, the quality of the institutional performance is one of the most

important factors in defining economic prosperity toward European integration process.

Data sets used are referred to the World Bank source and it covers the World

Governance Index parameters such as: voice and accountability, political instability

and violence, government effectiveness, regulatory quality, rule of law, and control of

corruption. Comparing such indexes with other countries in different stages of EU.

Key words: Quantitative Methods, European Union, Institutions and Growth,

Integration, Quality of Institutions

JEL classification: C33, O52, O43, F630

1 Full Professor Department of Statistics and Applied Informatics, Faculty of Economy, University of Tirana, Albania E-mail: [email protected] 2 PhD, Department of Philosophy, Faculty of Social Sciences, University of Tirana, Albania E-mail: [email protected]



27

Financing constraints of SME

Besa XHAFERI1

Gjilnaipe BEXHETI2

Blerina ISEINI3

Abstract

The role and importance of small and medium sized companies is highlighted since the

‘50s and still remains a field of high interest both theoretically and empirically among

researchers and policymakers. A considerable number of researches provide evidence of

potential benefit of SME on growth and employability both for developed and

developing countries. The aim of this paper is to identify obstacles that companies face

as well as provide evidence of factors that possibly may influence these obstacles. A

probit model for data extracted from BEEPS dataset is estimated to identify possible

factors influencing the probability of a bank credit. We conclude that small and medium

companies in Macedonia identify as an obstacle the access to financing and that their

investments rely mainly on financing by bank credit.

Key words: SME, Financing, Business Obstacles

JEL classification: L2, O3, C1, D2

1 Prof.Ass., University of Tetova, Busines and Economics, Email: [email protected] 2 PhD, University of Tetova, Finance and Accounting, Email: [email protected] 3 BA, University of Tetova, Finance and Accounting, Email: [email protected]


28

Entrepreneurship obstacles: Comparative approach

Besa XHAFERI1

Elvira FETAHU2

Arlinda ZEQIRI3

Abstract

The main focus of the paper is to address the obstacles that entrepreneurs face in the

business environment specifically refereeing to the case of Macedonia. The data are

extracted from BEEPS dataset. Quantitative and comparative analysis provide evidence

of the magnitude of the different obstacles that companies in Macedonia face compared

to the European average as well as evidence on differences of respective obstacles when

controlled for size of the enterprise. The main focus of the paper is to identify potential

obstacle that enterprises face to small country sample data. The evaluation and the

analysis provide evidence that size of the company matters for the probability to have a

business environment obstacle. Entrepreneurs differ in their likelihood to succeed and

the evidence we provide is that size influences the likelihood that companies face an

obstacle.

Key words: Enterprise, Business Environment

JEL classification: L2, O3, C1, D2

1 Prof.Ass, University of Tetova, Busines and Economics, Email: [email protected] 2 Prof. Ass., University “ Aleksander Xhuvani”, Department of Marketing, Email: [email protected] 3 BA, University of Tetova, Finance and Accounting, Email: [email protected]

https://www.google.com/search?q=entrepreneurship&spell=1&sa=X&ved=0ahUKEwjF3PflxsHaAhXBJ5oKHdGiD5EQkeECCCMoAA


29

The impact of community law on the reformation of the legislation in the

field of tourism in Albania

Bledar ABDURRAHMANI1

Abstract

This paper aims to carry out a thorough analysis of the impact that the European Law

has on the reformation of the Albanian legislation in the field of tourism. The paper

undertakes to provide an answer to some crucial questions such as: Which is the role of

the European Union in improving the legislation in the field of tourism in member states

of the EU or in states aspiring for the candidate status, what are the legal instruments to

be employed in terms of the legislative reforms of the tourism sector in the EU and

Albania. The paper supports the main hypothesis that the slow pace of implementation

of the legal reform in the field of tourism on behalf of the touristic enterprises is not

contributing accordingly to the expected success of this sector. To prove this hypothesis,

the desk research method has been employed, namely theoretical consultation with

important legal documents in the field of tourism, as well as the historical interpretation

of the legal reforms that have been undertaken in this field, besides the adoption of the

comparative research method, which examines the impact of the criteria and standards

set out in European Union law in the field of tourism and how these standards have been

transposed into the domestic law in the context of Albania's EU integration. The main

finding of this paper is that even though there is a legal basis already aligned with

community law which regulates and protects the interests of the tourist consumers

foreseen in the tourism law in Albania and specifically in the travel package contract,

these measures have not yet provided the appropriate effects due to the lack of

willingnessbytourist entrepreneurs to enforce legal requirements, and due to clients

failing to recognize and guarantee their rights and thereby mainly state institutions held

accountable such as the State Tourism Inspectorate failing to be more rigorous in

monitoring law enforcement.

Key words: EU Law, SAA, State Tourism Inspectorate, Tourist Entrepreneurs, Travel

Package Agreement

JEL classification: K23, K33, Z38

1 Dr., Department of Law, Faculty of Political Sciences and Law, “Aleksandër Moisiu” University, Durrës, Email: [email protected]


30

The juridical mechanisms of Security Council of the United Nations

Blendi ÇALI1

Laurena KALAJA2

Abstract

Through this work, the authors aim to answer the question, which was the role of

juridical mechanisms of the Security Council of the United Nations on guaranteeing

peace after the Second World War. The states decided to trust the insurance of peace

and restoration of cooperation to the organization of the United Nations considering this

organization as the one whom would erase the bitter experience of the League of

Nations and healed the wounds of two World Wars. This work is channeled into two

main subtopics like the juridical nature of the Security Council resolutions and the Veto

mechanism, as two juridical mechanisms under the guide of which the organization

realized its mission. This work is interesting because it takes into analysis an

organization which continues to serve the international order and has a voice in the

resolution of conflicts and issues concerning the member states and world peace. The

historical and juridical point of view taken into analysis will make possible the

presentation of facts and their interpretation to reach in a conclusion regarding the role

of mechanisms of the Security Council in the realization of the mission of the United

Nations.

Key words: United Nations, Security Council, Veto mechanism, World Peace

JEL classification: N00, N4, N40

1 PhD Candidate, Department of Political and Administrative Sciences, Albanian University, Email: [email protected] 2 Lawyer, Polis University, Email: [email protected]

mailto:itmailto:it


31

Understanding entrepreneurial intentions of Albanian business students

based on the theory of planned behavior

Blendi SHIMA1

Babu GEORGE2

Abstract

This research aims to contribute to the understanding of the effect of entrepreneurship

education on entrepreneurial intentions among university business students in Albania.

A model interlinking entrepreneurship education and entrepreneurial intention is

proposed based on the theory of planned behavior. Factors related to education that

affect the entrepreneurial intentions among business students in Albania are identified

and measured. Analysis of the data revealed significant relationships between personal

attitudes and entrepreneurial intentions. Subjective norms and perceived control over the

entrepreneurial abilities were both not significantly related to entrepreneurial intentions.

Discussion of results is presented and future research possibilities are suggested.

Key words: Entrepreneurship Education, Theory of Planned Behavior, Entrepreneurial

Intention, Perceived Desirability, Perceived Entrepreneurial Control

JEL classification: M13, O31, EED125

1 PhD Candidate, Canadian Institute of Technology Tirana, Albania, Email: [email protected] 2 PhD Candidate, Fort Hays State University, Hays, KS-67601, USA, Email: [email protected]


32

The role of employees in providing services. The case of Albanian

businesses

Blerim KOLA1

Taulant KULLOLLI2

Abstract

This article consists of a study of the role of employees in the process of providing

services. The employees are considered to be very important in the provision of services

and in this context the aim is to carry out an observation on certain types of businesses

in Albania in order to understand if the employees are really the representatives of the

organization they work and serve.

Businesses that are involved in the provision of services have the specificity that for

them, the employees and their way of working, has a great impact on its overall

performance. Are the employees serving in the Albanian businesses as promoters and

marketers? Are they trained by businesses to be the core of business marketing

strategies? Are there mechanisms to evaluate this aspect?

All of these research questions arise when considering the quality of the services offered

and when it is considered important for the business to grow and achieve their

objectives. Service businesses in our country, whether private or public, account for a

considerable share of the gross domestic product, about 53.7% according to the data of

2017. So because of this fact this study tends to assess the state of this sector and to

concretely stop in one of the important elements of its performance that are the

employees. This research project aims to combine service marketing theories with the

concrete role of one of the basic actors in this business, such as the employees.

Key words: Services, Employees, Albania

JEL classification: M0, M3, M31

1 Prof.Asoc.Dr. Department of Marketing, Faculty of Business, University “A. Moisiu”, Durres, Email: [email protected] 2 Msc., Department of Marketing, Faculty of Business, University “A. Moisiu”, Durres, Email: [email protected]



33

Development of public-private partnership in the tourism sector and its

impact on Albania's economic growth. Let's learn from neighbors! A

Comparative case with Montenegro

Blerina DERMISHAJ1

Abstract

The recent years more and more discussions have been made about the importance that

tourism has in our country in economic growth.This awareness was first made by

private operators in this sector where the revenues generated by this activity motivated

them to seriously be involved with investments initially. The further growth of the flow

has led to the improvement of the already existing standards, which are at the same level

as the tourist standards of the countries that have been developed mostly in the industry.

Revenue growth and the impact on GDP has made the public sector, the government and

the relevant ministries turn the attention from tourism as the best way for the domestic

economic growth of the country.

Thus public and private actors are in ongoing discussions and debates for further

improvements and the undertaking of immediate actions to be done in the field.

The resources and tourism potentials of Albania compared to the neighboring countries,

directly competitive in this field, provide a certainty to create high expectations for

significant economic growth of the country. This paper intends to show, through a

comparative model with Montenegro, that by using the tourism resources each

countries, the change in income and the tourism impact on the economy, comes from the

degree of engagement of public operators. Public operators play a decisive role in

multiple direct and indirect results in the field. There are many touristic resources in the

possession, and their efficiently and efficiently use is made possible by the commitment

of public operators in the field, till on the creation of a functional tourist infrastructure.

We can learn from public-private partnerships models now available from neighboring

countries.

Key words: Public Operator, Private Operator, Comparison, Partnership, Tourist

Resources

JEL classification: Z3, Z30, Z2

1 MSc., Lecturer, “Aleksandër Moisiu” University, Faculty of Business, Durrës. E-mail: [email protected]



34

Flash mob marketing as a promotional strategy

Brunilda LIÇAJ1

Leida MATJA2

Abstract

Flash mob marketing is a non-traditional approach which points to the convergence of

advertising, marketing, and public relations in consumer communication practices.

Marketing communication has become more important than ever before because of the

building strong relationships with customers.

This paper categorizes flash mobs as a subsection of guerilla marketing, and provides a

historical and cultural analysis of the phenomenon. The paper provides an overview of

current trends of using flash mob as a guerrilla marketing communication. After an

examination of visual examples and discourses on the issue in the literature, the study

continuo with a discussion of flash mob and related advertising techniques. The

objective of this research is to identify possible trend of flash mob as a promotional

strategy and to verify that Marketing flash mobs using musical performance elements

are successful for the promotion.

Key words: Flash Mob, Communication Strategy, Guerrilla Marketing, Non Traditional

JEL classification: M31, M37, M39

1 Doctor of Science, Department of Tourism, University Aleksandër Moisiu, Durrës, Email: [email protected] 2 Competition Authority, Tirane, Email: [email protected]



35

Gender diversity and firm performance

Caterina AURA1

Francesca AURA2

Franco RUBINO3

Abstract

At the beginning of the 90’s, the increasing development of studies on “Corporate

Governance” in the United States led Italy to revise its governance model. In this

setting, one of the most relevant aspects is board composition, and in particular Gender

Diversity, to be understood as female participation on boards. The aim of this paper is to

investigate the effects of board Gender Diversity of Italian listed companies on the

company performance.

In order to assess the existence of a relationship between board gender diversity and

firm performance, we used the panel data analysis “fixed effect panel model” over data

concerning 197 Italian listed companies from 2009 to 2015. Our results suggest a

positive impact of female presence on firm performances.

Key words: Corporate Governance, Board Diversity, Gender Diversity, Firm

Performance, Panel

JEL classification: C33, G30, G34

1 PhD, University of Calabria, DISCAG, Rende (CS) Italy, , Via P. Bucci 87036 Rende (CS) Italy, Email:

[email protected] 2 PhD, University of Calabria, DISCAG, Rende (CS) Italy, Via P. Bucci 87036 Rende (CS) Italy, Email: [email protected] 3 Professor, University of Calabria, DISCAG, Rende (CS) Italy, Via P. Bucci 87036 Rende (CS) Italy, Email: [email protected]


36

Les politiques économiques des pays européens à la lumière des chocs

mondialisés

Claude ALBAGLI1

Abstract

A l’âge de la maturité industrielle, la logique smithienne, tayloriste et fordiste d’une

efficience fondée sur la division des tâches et du travail, s’était imposée. Elle s’inscrivait

toutefois dans un cadre national abrité par des frontières douanières qui protégeait de la

concurrence internationale à laquelle on ne voulait se mesurer qu’avec précaution. Lors

de la dernière vague de mondialisation émergent à la fin des années quatre-vingt, un

nouveau contexte bouscule cette architecture séculaire. Ces données ont transformé les

entreprises et les stratégies économiques des Etats. On abandonne le principe d’une

chaîne globale de production au profit d’une segmentation dont chaque élément est

disposé sur le site le mieux disant en prenant l’ensemble de la planète comme champ des

possibles. Cela intensifie le commerce international, développe les stratégies du juste à

temps et de coordination, accélèrent les délocalisations et les externalisations. Mais que

peuvent faire les pays européens si la logique communautaire d’un échange libéralisé en

son sein rejoint soudainement celui de la gouvernance planétaire ? Comment

contrecarrer les effets délétères sur l’emploi quand les paradigmes keynésiens ou

néoclassiques ne sont plus remplis et émousse sérieusement l’efficacité des politiques

publiques ? Mais, alors que les effets non digérés de cette mutation perdurent, voici

qu’un troisième type de Progrès s’amorce et bouscule la structure productive.

L’intelligence artificielle tend à éliminer tout ce qui peut être répétitif par l’automation

et la robotisation. L’automation fait perdre la compétitivité des pays à main d’œuvre bon

marché sans recréer au Nord des gisements d’emplois. Finalement, les logiques

managériales qui s’étaient imposées à la faveur de l’unicité planétaire en faveur du

libéralisme, risquent de devenir obsolètes en trois décennies pour affronter ces nouvelles

configurations et ces nouveaux enjeux au sein desquels la question européenne reste

suspendue.

Key words: Economie Internationale, Economie Publique, Développement Economique,

Avancées Technologiques et Croissance, Organisation Industrielle

JEL classification: F02, H11, H2

1 Président de l’Institut CEDIMES, Membre de l’Académie Nationale des Sciences de Roumanie, email:[email protected]


37

Renewable and non-renewable electricity consumption, carbone emission

and GDP: Case of Tunisia

Claude ALBAGLI1

Rahma Ben NAYA2

Francesco SCALERA3

Abstract

According to many studies, renewable energy (electricity) has one of the most

significant cost-effective potentials for reducing energy-related green house gas

emissions. Increasing the supply of renewable energy would allow for the replacement

of carbon-intensive energy source and significantly reduce polluant emission. The major

focus of this article is to investigate empirically the causal relationship between

renewable and non renewable electricity consumption, GDP and CO2 emission in the

case of Tunisia. Tunisian small and medium-sized entreprises use renewable energy to

reduce pollution and their costs, in particular chemical sector.

The difficulties that SMEs may encounter in adapting to environmental protection

imperatives are linked to the lack of funding, since the fixed costs of environmental

technologies remain high for it. The data used in this study are covering the period 1980

to 2015, we used the model time series for Tunisia country, the result provide empirical

evidence that there is a short-run bidirectional causality between GDP, renewable

electricity consumption and CO2 emission, and between non renewable electricity

consumption, GDP and renewable electricity consumption. As for the long-run causal

relationship, the result indicate that there is bidirectional causality between non

renewable electricity consumption and CO2 emission.

This paper is organized as follow: The introductory section; Reviews the related

literature; Provides the renewable energy in Tunisia; Describe the data and the

econometric model and we report our empirical finding.

Key words: Renewable Energy Consumption, Non-Renewable Energy Consumption,

Electricity, CO2 Emission, SMEs, Tunisia

JEL classification: Q4, Q43, Q53, Q57, M15

1 President CEDIMES Institute, France, Email: [email protected] 2 ResearchPhDStudent, University of Tunis El Manar (UTM), Faculty of Economics and Management of Tunis, Department of Economics Sciences, ResearchLaboratory of Prospectives Strategies and SustainableDevelopment (PS2D), Email: [email protected] 3 Researcher in Business Economics, University of Bari “Aldo Moro”, Department Economics and Finance, Email: [email protected]



38

Potentials and perspectives for development of short tourist offers in

countries of Adriatic coast and hinterland

Darko PETKOVIC1

Nebojša VASIC2

Alaudin BRKIC3

Abstract

Airports play an important role in the development of a country's tourism. Tourism can

generate significant income and employment. Although it is not possible to attribute

employment and income directly or indirectly to the existence of the airport, it certainly

gives a strong contribution to the catalytic influence. The most important role of the

airport relates to the connections they provide, through raising the mobility of education,

the standard of living and quality of life, which allows the flourishing of the European

economy and society as a whole. Potential airports and MMA networks (elaborated in

the paper) in the hinterland of the Adriatic coast or on the shore can take over part of the

flight operations from the existing commercial airports. This is particularly important in

the summer months when large airports are burdened with a large number of operations

in the peak tourist season. The target group would be EU aeroclubs, business people,

elite tourism users (yacht owners and golf players), congress tourism participants and

many others.

Furthermore, users of small aircrafts would combine flight with the use of tourist offers,

servicing, maintenance and guarding of the aircraftswhich will be a whole-year offer.

What's particularly important is the proposed location of the airport for more than 300

sunny days with small temperature variations and virtually no snowflakes. Poland is the

best example - funds for research and development for only a few years from EU funds

for these purposes is more than 250 million EURO. The significance of avioturism and

all its catalytic influences requires broader research in this area which will certainly

highlight a new course of action.

Key words: Small Airport, Economy, The Standard of Living, Elite Tourism, Research

JEL classification: Z30, Z3

1 R.Prof.dr.sc., Center for Innovation and Entrepreneurship of the University of Zenica, Email: [email protected] 2 V.prof.dr sc., Faculty of Economics of the University of Zenica, Email: [email protected] 3 V.prof.dr sc., Faculty of Economics of the University of Zenica, Email: [email protected]



39

Coordination of public investments in the function of their efficient

management

Dorjan TELITI1

Abstract

In a market economy, investment represents the engine of economic development.

Despite the level of development and growth of the private sector, the state remains the

largest investor with most important impact on the economy. Public investment in

central and local government not only creates and improves public services but also at

the same time generates employment, consumption and encourages private investment.

These are precisely those indicators that are often used to measure their efficiency.

However, while separate investment efficiency is important, there is no separate

territory between the central and local government. In the same territory, central and

local government investments can be developed. Often, these investments are

complementary to each other, but there are few cases of conflicts between them. Not

only international but also Albanian history recognizes cases when a local government

investment has been undone by the implementation of a central government investment

and vice versa. There are also a few cases where the need for coordination is necessary

because of a certain line that needs to be pursued between investments in order to

increase their management efficiency.

Efficient management of these investments requires precisely a co-ordination between

investors: the central government and local government. An integrated and appropriate

strategy should identify and evaluate the requirements of the particular areas of the

country's territory. These strategies are exactly the focus of this study. In order to

measure the efficiency of public investment management in Albania, the co-ordination

of sectorial and regional public investment strategies will be analyzed. Through a

questionnaire, the facts and assessments of specialists, managers and political leaders of

central and local government institutions have collected to measure the impact of

regional and sectorial development strategies on public investment efficiency and the

minimization of possible conflicts between them.

Key words: Management, Co-ordination, Public Investment, Efficiency

JEL classification: H40, H53, H5

1 Msc, Parliament of Albania, Adviser, Email: [email protected]


40

Moral tax determinants

Elton KARAPICI1

Gentiana FILIPI2

Abstract

Studying the moral tax is very important to understand what affects the decision-making

of individuals to pay taxes so that the governing bodies and tax administration of the

country can work to improve those elements and promote voluntary tax compliance. All

this serve the common good of the public good and help in designing appropriate fiscal

policies that achieve higher tax compliance.

The Moral Tax really is a very important component of compliance decisions and shows

that tax morality operates through different basic channels. There is little evidence that

shows that we know how to manage these channels to improve compliance and revenue

collection in a consistent and successful manner.

One of the problems faced by economies of all countries around the world is fiscal

evasion. Since the birth of tax systems, as a compulsion of citizens, the ways to avoid

this obligation have begun. But to combat these non-fulfillment of tax obligations, such

as tax evasion, it is important to understand what affects the decision-making of

individuals to pay or not the taxes.

But recently the literature has recognized some new theories on the explanation of tax

compliance, which are summarized in a single concept, constitute the moral tax. Thus,

the moral tax and its determinants do not remain merely at the theoretical level of

literature on the moral tax, but they will also be analyzed by identifying the determining

factors that influence citizens' decision-making on tax compliance.

Key words: Moral Tax, Fiscal Policy, Tax Administration, Tax Evasion

JEL classification: H40, H53, H5

1 MSc., Inspector at the General Taxation Directory of Tirana, Albania, Email: [email protected] 2 PhD. Accounting Department, Faculty of Economy, Tirana University, Email: [email protected]



41

The impact of packaging and its elements in the consumer behavior

Eda BEZHANI1

Abstract

Packaging is considered a key point of marketing communication and can be considered

as one of the most important factors influencing the decision to buy. It is an important

part of the marking process, plays a vital role in communicating the image and identity

of an organization. The main objective of this paper is to highlight the role of packaging

and its elements in consumer behavior, brand communication and consumer value.

The study discusses three types of connections: the "consumer behavior - color of

packaging", "consumer behavior - packaging text" and consumer behavior - packaging

design. The data is collected through a questionnaire with a sample of 206 people, in

order to identify different perceptions and views of consumers towards the packaging

elements of a product. The results showed that the focus is on design - consumers tend

to read the information on the packaging on average and think that font size has a

sufficient impact on their reading. The resulting element that encourages more to buy, is

the image or figure, interviewees have often made purchases based on product

packaging and the color influences the determination of various spontaneous purchases.

Key words: Packaging, Marketing, Consumer Behavior, Decision-Making Process

JEL classification: M30, M31, M

1Prof.Asoc.Dr, Department of Marketing, University “Aleksandër Moisiu”, Durrës, Email: [email protected]


42

E-Government and its impact to the public

Edona ZENELI1

Abstract

In this paper will be addressed the topic: "E-Government and its impact to the public".

As in many countries around the world, we are working hard in the field of Information

Technology in Albania to provide services of Public Administration at any time and

from any geographical location. The digitalization process of services provided by the

Public Administration is one of the areas in which it is being invested more both from

the financial point of view and from the human resources point of view. The hypothesis

raised in this paper is: "E-Government has significantly improved the quality of services

provided by Public Administration". The research questions that accompany this

hypothesis are:

1. What does E-Government mean to citizens of the Republic of Albania?

2. What was their approach to this important innovation for improving government

service?

3. How are different categories and ages matched with this development?

4. Have they received enough information about these developments in the field of

information technology?

5. What are the age groups using most online government services?

The object of this study will be citizens of the Republic of Albania with different

geographical locations and different age groups. The analysis of the survey conducted

will be detailed in the full paper. The development of e-government plays a very

important role in improving everyone's life and studies in this area should be more

quality and frequent in helping to improve this service.E-government’s impact to the

public is very important for the government and its departments.

Key words: E-government, Service, Public Administration, Development, Information

Technology

JEL classification: H11, Q55

1 MSc., Head of ICT Sector and Project Implementation, National Agency of Information Society (NAIS) Email: [email protected]



43

Estimating the drivers of De-Euroization in Albania

Ela GOLEMI1

Abstract

Albania is actually experiencing a high level of financial euroization, public's preference

to keep a considerable part of its assets and liabilities in foreign currency. The presence

of financial euroization in the economy has potentially adverse effects on

macroeconomic policies and the stability of the financial system. The study seeks to

explore the drivers for de-euroization in Albania, based on developments in banking

sector's balance sheet and the experiences of other countries. The realistic objective of

this phenomenon reflects its complexity and the approach to it must be comprehensive.

The study made a documentation of trends in credit and deposits in the Albanian

banking sector, using data from the Bank of Albania between 2000 and 2015. An

econometric approach is used to model de-euroization dynamics and to identify the

factors that have boosted the de-euroization process. The analysis suggests possible

measures to be implemented in order to reduce the phenomena, (i) on the liability side of

banking system, the increase of the reserve requirements of deposits in foreign currency;

and (ii) and on assets side, measures aimed at providing some general awareness of

economic agents about foreign currency risks and the imposition of a higher regulatory

requirements for liquid assets in the foreing currency.

Key words: Financial Euroization, Currency Substitution, De-Euroization Measures

JEL classification: E58 (Central Banks and their Policies)

1 PhD, Lecturer at Economics Department, University “Aleksandër Moisiu” Durrës, Email: [email protected]


44

Social return on investments: Economic, financial and sustainable aspects

Elisabetta VENEZIA1

Fabio PIZZUTILO2

Abstract

Building on the principles of "social accounting" and “cost-benefit analysis”, we analyse

the Social Return On Investment (SROI) of some infrastructural interventions by using

Pay for Success (PFS) and Social Impact Bonds (SIBs). SROI is a powerful method for

measuring possible non-financial value of investment projects. It contributes to a wider

analysis of investments and offers an overview of how change has been generated and

experienced by beneficiaries and stakeholders. PFS is a promising approach to

contracting that ties payment for service to the achievement of measurable outcomes. It

tries to ensure that high-quality, effective social services are delivered to individuals and

communities. SIBs are a type of bond that does not offer a fixed rate of return and

whose repayment to investors is contingent upon specified social outcomes being

achieved by the financed project. Using tools such as PFS and SIBs, we argue that SROI

turns into a cutting edge model for non-financial evaluation of investment project and

that it is a powerful guide for funders seeking at combining environmental and societal

returns along with financial ones. Although it makes use of monetary values to represent

the social and economic results of infrastructural investments, the model is designed to

measure the effective sustainable social and environmental value that is expected to be

created by the project and to stimulate funding by private, public entities and

supranational large infrastructural investment programs, remediating or preventing the

absence of proper sustainable social and environmental evaluations.

Key words: Social Return on Investment, Pay for Success, Social Impact Bond,

Sustainable Finance, Infrastructure Investments Evaluation

JEL classification: H54, M14, G11

1 University of Bari Aldo Moro, Email: [email protected] 2 University of Bari Aldo Moro, Email: [email protected]



45

Banking sector in Albania and some key performance indicators of second

tier banks

Enida ISTREFI1

Juliana IMERAJ2

Jonida LAMÇJA3

Abstract

In this paper I have the main purpose to evaluate the underlying conditions of the

Albanian banking system. In addition to the theoretical approach, I focus on presenting

some specific indicators that show the performance and efficiency of our banking

system (ROA, ROE, Profitability Reports). Indicators that will serve us to see which of

the banks in Albania occupy the largest share in the financial market. The literature

browsed in this paper is very wide, starting from albanian and foreign authors, field

researchers and financial experts who have expressed their views on the level of

development of second tier banks in Albania. To date, there are some theories on

competition and overriding factors that determine it. One of the earliest theories initiated

by Mason (1939) is the Tripartite Theory Structure-Conduct -Performance . The main

idea of this theory is that the market structure has a direct impact on the behavior of

companies (in our case study of banks), and as a consequence affects the performance of

banks. As for the equally usable second hypothesis proposed by Demsetz (1973),

Efficiency Structure Theory, it is noted that the efficiency of the companies is positively

linked to the market share occupied by the company. The primary sources of

information are obtained from the annual reports of second tier banks and from the

annual reports of the Bank of Albania.

Key words: Banking System, Structure-Behavior -Efficiency Theory, Effective Structure

Theory

JEL classification: G2, G20, G21

1 MSc. Department of Finance-Accounting, University Aleksandër Moisiu, Durrës Email:

[email protected] 2 PhD. Department of Finance-Accounting, University Aleksandër Moisiu, Durrës Email: [email protected] 3 MSc. Department of Finance-Accounting, University Aleksandër Moisiu, Durrës Email: [email protected]


46

The influence of e-management of maritime shipping companies for

business successful

Erald BERBERI1

Denada LIÇA BERBERI2

Abstract

The main objective of this paper is to analyze the role of e-management on maritime

shipping companies performance in order to gain competitive

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