Business Management

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  CORPORATE TRANSPARENCY AND DISCLOSURE: METRICS OF MACEDONIAN JOINT STOCK COMPANIES

  The disclosure and transparency of joint stock companies is fostering safe and sound governing of joint stock companies and reduces the risks of corporate crises and scandals. The purpose of the research is to identify the transparency level of the Macedonian listed companies that are obligated to comply with the Corporate Governance Code of the ... The disclosure and transparency of joint stock companies is fostering safe and sound governing of joint stock companies and reduces the risks of corporate crises and scandals. The purpose of the research is to identify the transparency level of the Macedonian listed companies that are obligated to comply with the Corporate Governance Code of the Macedonian Stock Exchange, according to 20 indicators related to the publication of information on the company's website and in their annual reports. The study adopts a mixed methods approach, combining qualitative and quantitative techniques. Qualitative component involved collecting and examination of data for 20 corporate governance indicators obtained from reliable sources. Quantitative analysis entailed assessing and scoring each indicator based on predefined criteria, followed by statistical processing and graphical representation of the results using Microsoft Excel. The research has shown that the average transparency level of analysed joint stock companies belongs to the “good” level. Considering the findings, the study provides recommendations aimed to enhance the transparency practices of Macedonian joint stock companies.

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  MANAGERIAL COMPETENCES IN REGULATED INDUSTRIES

  Background: Managerial competencies are vital in regulated industries, where organizations must balance strict legal compliance with competitiveness. Methods: This study applies Quinn’s managerial competency model to a Latvian pharmaceutical company, focusing on three factors: Processes and Results (F1), Human Relations and Innovation (F2), and ... Background: Managerial competencies are vital in regulated industries, where organizations must balance strict legal compliance with competitiveness. Methods: This study applies Quinn’s managerial competency model to a Latvian pharmaceutical company, focusing on three factors: Processes and Results (F1), Human Relations and Innovation (F2), and Public Interest (F3). Data from 55 employees were collected using a validated Likert-scale questionnaire. Reliability was confirmed with Cronbach’s Alpha (α > 0.7). Data analysis included descriptive statistics, correlation, and regression testing. Results: Correlation analysis revealed strong positive links between F1 (.821**) and F2 (.819**) with company performance, while F3 (.808**) showed weaker significance. Regression results confirmed that F1 (t = 3.759, p < 0.001) and F2 (t = 3.632, p = 0.001) significantly predicted performance (R² = 0.742), while F3 was excluded. Conclusions: Findings emphasize that process management and human relations are the most critical managerial competencies in regulated pharmaceutical contexts. Regulated industries demonstrate stronger alignment with public-sector management logic, where compliance, innovation, and stakeholder engagement drive performance.

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  CLUSTER ANALYSIS OF E-COMMERCE IN THE EUROPEAN UNION COUNTRIES

  E-commerce is the fastest growing segment in the trade sector and is of ever-increasing importance to the economy of the European Union. However, huge imbalances occur between individual countries when measuring the intensity of this type of trade. In the context of the new realities, the aim of the present study is, based on cluster analysis, to ... E-commerce is the fastest growing segment in the trade sector and is of ever-increasing importance to the economy of the European Union. However, huge imbalances occur between individual countries when measuring the intensity of this type of trade. In the context of the new realities, the aim of the present study is, based on cluster analysis, to segment and identify the differences between the EU Member States in the field of e-commerce, and on this basis to formulate corresponding conclusions. Cluster analysis is applied to selected indicators (I) for measuring e-commerce in the European countries—I1. “E-commerce sales of enterprises”; I2. “Value of e-commerce sales”; I3. “Internet purchases by individuals”. The clustering of the studied data refer to 2024. Technical processing and calculations are made using IBM SPSS Statistics. As a result of the study conducted, the 27 Member States are differentiated into four homogeneous clusters, which allows them to be interpreted as: leading countries in the e-commerce segment; countries catching up with the leaders; countries moderately advancing in e-commerce; countries in an unenviably lagging position.