Meri Boshkoska, is a Full Professor at the Faculty of Economics in Prilep, “St. Kliment Ohridski”, University in Bitola. In addition to her work at the Faculty of Economics, she has been engaged in several domestic and international projects. Her main areas of research and teaching are: international finance, international business and financial markets and institutions.
Proceedings of the 27th International Scientific Conference Strategic Management and Decision Support Systems in Strategic Management
Small and medium-sized enterprises (SMEs) are crucial for any national economy through their vita... more Small and medium-sized enterprises (SMEs) are crucial for any national economy through their vital contribution to sustainable growth, economic development and employment. The digital revolution, globalization, and the latest impact and pressure caused by the Covid-19 pandemic have posed even greater barriers and challenges for these enterprises. In order for small and medium-sized enterprises to respond to the new challenges, to participate in the market and gain a competitive position, they need to be different, and this can only be accomplished through an innovative way of working. To foster innovation, strategic changes are needed in the operation of the SMEs, with a focus on the people involved, the ways and methods used in the organizational environment, and the desired innovation results. Connecting to the external environment (networking) and/or using an open innovation system are also fundamental to the success of the enterprise innovation process. Innovative capacity of th...
In this paper we analyzed the liquidity of the companies, the plans for the future cash flows and... more In this paper we analyzed the liquidity of the companies, the plans for the future cash flows and questions related to the new law regarding the financial discipline. Main questions addressed here are the number of difficulties related to the sources of financing the current and the developing activities of the companies in Macedonia. The analysis is undertaken by using statistical techniques and models. The results suggest that in the post-crisis period the companies are facing with number of difficulties of providing financial resources for the current and the developing activities where the most significant source of finance are the bank credits. Also, the results suggest that delayed payment of claims, the legislative and the high level of interest rate are the most common factors that restrict the access to finance of the Macedonian companies.
The possibility to predict bankruptcy of a company before it actually occurs has resulted in a de... more The possibility to predict bankruptcy of a company before it actually occurs has resulted in a development of a great number of research works on business failure. In theory, there are several models that could predict the financial instability of the companies. A few of these models have been expanded and applied in the developed countries the market environment of which differs from those in the developing and transition countries. When evaluating and predicting the excellence of a company it is important to consider the economic environment in which the company has been dealing. This is we have decided to use the BEX model as it has been designed for the Croatian business environment which is similar to the Macedonian one. The objective of this paper has been reached by developing a software analysis based on BEX model which enables calculation, determination and visual presentation of a company’s excellence, as well as a business success and failure prediction.
Croatian Review of Economic, Business and Social Statistics, 2018
Recent developments in the field of information and communication technologies (ICTs) have create... more Recent developments in the field of information and communication technologies (ICTs) have created new opportunities for enhancing both the operations and competitiveness within the banking sector. The application of contemporary ICT-based solutions has resulted in significant changes in the traditional banking business, through the involvement of brand new approaches in the process of distribution of banking products and services to customers. As a part of the services offered by any modern bank, e-banking has become a synonym for an efficient system aimed at delivering traditional banking services through electronic communications channels, available to anybody, anywhere and anytime. The goal of the paper is to perform an empirical analysis of the current situation regarding the level of customer usage and satisfaction with e-banking services in the Republic of Macedonia. The study will enable us to determine which variables affect the level of adoption and satisfaction with е-ban...
The effective managing with a company, to a large extent, depends on the sources of financing of ... more The effective managing with a company, to a large extent, depends on the sources of financing of its business activities. The decisions that the entrepreneurs make for financing of the business activities are rather complex and are related to the planning, providing and using of the finances. The establishment and the continuity of the work of the small and/or medium sized enterprises, mainly depends on approachability to the finances that can be obtained from different sources and under different financing conditions. The main goal of this paper is to point out the alternative sources of financing that can help the Macedonian small and medium sized enterprises to provide enough capital for improving and enlarging the scale of their productivity, competence, as well as the development of new products and innovations. In this paper, a theoretical research is presented concerned with the financing of the small and/or medium sized enterprises through analytic description and a synthesis method that will be applied after the content analysis. The expected results of the research are actually the answers to the following questions:
The global economic scene towards the end of the 20th and the beginning of the 21st century has s... more The global economic scene towards the end of the 20th and the beginning of the 21st century has suffered a series of financial crises that had serious consequences in the developed economies in which they initially emerged, but their impact also caused serious problems in many other countries, hence, had a strong negative impact on the global economic development overall. The global financial crisis originally started as an US financial crisis of 2007/08, transmitting globally after the fall of Lehman Brothers impacting the rest of the developed and developing countries. The subsequent European debt crisis, is proof that financial crises are still present and pose a serious threat in the future onto the development of the world economy in general. Therefore, in this paper we conducted an analysis of the leading factors that caused the global financial crisis. According to the literature and the empirical work conducted, we can classify these factors in two major groups: macroeconomi...
The main aim of this paper is to find the relationship between agriculture investment and the gro... more The main aim of this paper is to find the relationship between agriculture investment and the growth of the gross domestic product in North Macedonia. We collected the yearly secondary time series data between the periods 1991 to 2020. We run the ARDL co-integration test to check the long-run as well as the short-run relationship between dependent and independent variables. We found a positive and significant relationship between agriculture valueadded and the growth of the GDP in the long run. The agricultural land has a positive relationship with the growth of the GDP in the long run but negatively correlated in the short run. Last, both variables agricultural methane emissions and inflation are negatively correlated with the growth of the gross domestic product in both the long and the short run.
Financing through the capital market has many advantages over other types of external financing c... more Financing through the capital market has many advantages over other types of external financing companies such as avoiding dependence on bank credits, access to a wider base of investors, collecting a relatively large amount of asset as well as longer maturity dates. The companies need to secure additional financial assets so they can maintain the current liquidity, as well as for their development and growth. These assets can be taken from internal as well as external financial sources. The purpose of this paper is to analyze the most common source which Macedonian companies use for financing for their current and developmental activities. Special emphasis is placed on how familiar Macedonian companies are with the process of bonds issuance for financing their working processes and how much they use it. The basic instrument for data collection was a questionnaire that was designed in three categories with 25 questions in order to be able to collect information about which is the mo...
Proceedings of the 27th International Scientific Conference Strategic Management and Decision Support Systems in Strategic Management
Small and medium-sized enterprises (SMEs) are crucial for any national economy through their vita... more Small and medium-sized enterprises (SMEs) are crucial for any national economy through their vital contribution to sustainable growth, economic development and employment. The digital revolution, globalization, and the latest impact and pressure caused by the Covid-19 pandemic have posed even greater barriers and challenges for these enterprises. In order for small and medium-sized enterprises to respond to the new challenges, to participate in the market and gain a competitive position, they need to be different, and this can only be accomplished through an innovative way of working. To foster innovation, strategic changes are needed in the operation of the SMEs, with a focus on the people involved, the ways and methods used in the organizational environment, and the desired innovation results. Connecting to the external environment (networking) and/or using an open innovation system are also fundamental to the success of the enterprise innovation process. Innovative capacity of th...
In this paper we analyzed the liquidity of the companies, the plans for the future cash flows and... more In this paper we analyzed the liquidity of the companies, the plans for the future cash flows and questions related to the new law regarding the financial discipline. Main questions addressed here are the number of difficulties related to the sources of financing the current and the developing activities of the companies in Macedonia. The analysis is undertaken by using statistical techniques and models. The results suggest that in the post-crisis period the companies are facing with number of difficulties of providing financial resources for the current and the developing activities where the most significant source of finance are the bank credits. Also, the results suggest that delayed payment of claims, the legislative and the high level of interest rate are the most common factors that restrict the access to finance of the Macedonian companies.
The possibility to predict bankruptcy of a company before it actually occurs has resulted in a de... more The possibility to predict bankruptcy of a company before it actually occurs has resulted in a development of a great number of research works on business failure. In theory, there are several models that could predict the financial instability of the companies. A few of these models have been expanded and applied in the developed countries the market environment of which differs from those in the developing and transition countries. When evaluating and predicting the excellence of a company it is important to consider the economic environment in which the company has been dealing. This is we have decided to use the BEX model as it has been designed for the Croatian business environment which is similar to the Macedonian one. The objective of this paper has been reached by developing a software analysis based on BEX model which enables calculation, determination and visual presentation of a company’s excellence, as well as a business success and failure prediction.
Croatian Review of Economic, Business and Social Statistics, 2018
Recent developments in the field of information and communication technologies (ICTs) have create... more Recent developments in the field of information and communication technologies (ICTs) have created new opportunities for enhancing both the operations and competitiveness within the banking sector. The application of contemporary ICT-based solutions has resulted in significant changes in the traditional banking business, through the involvement of brand new approaches in the process of distribution of banking products and services to customers. As a part of the services offered by any modern bank, e-banking has become a synonym for an efficient system aimed at delivering traditional banking services through electronic communications channels, available to anybody, anywhere and anytime. The goal of the paper is to perform an empirical analysis of the current situation regarding the level of customer usage and satisfaction with e-banking services in the Republic of Macedonia. The study will enable us to determine which variables affect the level of adoption and satisfaction with е-ban...
The effective managing with a company, to a large extent, depends on the sources of financing of ... more The effective managing with a company, to a large extent, depends on the sources of financing of its business activities. The decisions that the entrepreneurs make for financing of the business activities are rather complex and are related to the planning, providing and using of the finances. The establishment and the continuity of the work of the small and/or medium sized enterprises, mainly depends on approachability to the finances that can be obtained from different sources and under different financing conditions. The main goal of this paper is to point out the alternative sources of financing that can help the Macedonian small and medium sized enterprises to provide enough capital for improving and enlarging the scale of their productivity, competence, as well as the development of new products and innovations. In this paper, a theoretical research is presented concerned with the financing of the small and/or medium sized enterprises through analytic description and a synthesis method that will be applied after the content analysis. The expected results of the research are actually the answers to the following questions:
The global economic scene towards the end of the 20th and the beginning of the 21st century has s... more The global economic scene towards the end of the 20th and the beginning of the 21st century has suffered a series of financial crises that had serious consequences in the developed economies in which they initially emerged, but their impact also caused serious problems in many other countries, hence, had a strong negative impact on the global economic development overall. The global financial crisis originally started as an US financial crisis of 2007/08, transmitting globally after the fall of Lehman Brothers impacting the rest of the developed and developing countries. The subsequent European debt crisis, is proof that financial crises are still present and pose a serious threat in the future onto the development of the world economy in general. Therefore, in this paper we conducted an analysis of the leading factors that caused the global financial crisis. According to the literature and the empirical work conducted, we can classify these factors in two major groups: macroeconomi...
The main aim of this paper is to find the relationship between agriculture investment and the gro... more The main aim of this paper is to find the relationship between agriculture investment and the growth of the gross domestic product in North Macedonia. We collected the yearly secondary time series data between the periods 1991 to 2020. We run the ARDL co-integration test to check the long-run as well as the short-run relationship between dependent and independent variables. We found a positive and significant relationship between agriculture valueadded and the growth of the GDP in the long run. The agricultural land has a positive relationship with the growth of the GDP in the long run but negatively correlated in the short run. Last, both variables agricultural methane emissions and inflation are negatively correlated with the growth of the gross domestic product in both the long and the short run.
Financing through the capital market has many advantages over other types of external financing c... more Financing through the capital market has many advantages over other types of external financing companies such as avoiding dependence on bank credits, access to a wider base of investors, collecting a relatively large amount of asset as well as longer maturity dates. The companies need to secure additional financial assets so they can maintain the current liquidity, as well as for their development and growth. These assets can be taken from internal as well as external financial sources. The purpose of this paper is to analyze the most common source which Macedonian companies use for financing for their current and developmental activities. Special emphasis is placed on how familiar Macedonian companies are with the process of bonds issuance for financing their working processes and how much they use it. The basic instrument for data collection was a questionnaire that was designed in three categories with 25 questions in order to be able to collect information about which is the mo...
In both developing and developed countries, small and medium-sized enterprises are facilitators o... more In both developing and developed countries, small and medium-sized enterprises are facilitators of their growth and development. These enterprises also play a key role in reducing the unemployment of any economy as well as in improving the living standard of the citizens. Small and medium-sized enterprises account for 98-99% of the Macedonian private sector companies. Existence and development of small and medium-sized enterprises is mainly determined by funding opportunities and terms for their usage. Adequate financing is crucial in ensuring the growth and development of the SMEs. The main objective of this research is to determine the financing sources for SME's in the Republic of Macedonia in order to maximize the value of their business. In this paper we point out some of the most commonly used financial sources by the Macedonian SMEs and we offer recommendations for improving the financing of small and medium-sized enterprises.
11th International Conference: Digital Transformation of the Economy and Society: Shaping the Future, 2019
The global information and communication infrastructure is the basis for the current integration ... more The global information and communication infrastructure is the basis for the current integration of economies, cultures and societies around the world. Electronic technology involves the combined use of information technology and telecommunications. This technology enables companies sending large amounts of information over a long distance in a short time period. E-invoice exchange system enables businesses to reduce costs and errors, increase the security and money flow in the company and to become more environmentally friendly. Тhe implementation process of this type of invoice exchange system can be a long-term process because not all businesses can move to e-invoicing at the same time. The process of exchanging electronic invoices is fully automated and is economical as opposed to the traditional way of exchanging invoices. The main goal of this paper is to research what are the key benefits of implementation of the electronic invoice exchange system for the businesses. It has already been established that the e-invoicing is an ideal timesaving solution and it improves the productivity and service quality compared to the traditional paper invoicing. This paper will compare the disadvantages of the traditional and the benefits of the e-invoice exchange system. In addition, will include a comparative analysis of these two types of invoice exchange systems.
The effective managing with a company, to a large extent, depends on the sources of financing of ... more The effective managing with a company, to a large extent, depends on the sources of financing of its business activities. The decisions that the entrepreneurs make for financing of the business activities are rather complex and are related to the planning, providing and using of the finances. The establishment and the continuity of the work of the small and/or medium sized enterprises, mainly depends on approachability to the finances that can be obtained from different sources and under different financing conditions. The main goal of this paper is to point out the alternative sources of financing that can help the Macedonian small and medium sized enterprises to provide enough capital for improving and enlarging the scale of their productivity, competence, as well as the development of new products and innovations. In this paper, a theoretical research is presented concerned with the financing of the small and/or medium sized enterprises through analytic description and a synthesis method that will be applied after the content analysis. The expected results of the research are actually the answers to the following questions:
Uploads