Suchergebnisse

Due to the COVID-19 pandemic, the world has changed completely in less than two years' time. The pandemic has threatened human lives, society, and global economy. As the largest pandemic of modern times, second only to the Spanish flu, it has had a significant negative impact on the economy, especially the service sector. The goal of this paper is to analyse the impact of COVID-19 on the economy. The analysis includes short-term economic effects in the first months of the outbreak, cost-and sector-specific impact, and economic expectations. The overall conclusion is that the pandemic has had severe negative impacts on the global economy, causing a significant GDP loss, increased unemployment, and the greatest decline in retail trade, compared to other recessions in the past 40 years. However, the pandemic has also accelerated the development of the digital economy.

Marketing allows entrepreneurs to position themselves successfully in consumer awareness, to be successful competitors, and to satisfy consumer demands profitably. Entrepreneurs can use several marketing strategies, such as relationship marketing, expedition marketing, one-toone marketing, real-time marketing, and digital marketing. The aim of the paper is to discuss the advantages of digital marketing and certain forms of digital marketing in achieving entrepreneurial goals in the light of limited financial resources. In this paper, we will analyze the developmental stages of marketing. Then we will point to three critical forms of digital marketing: online marketing, social networking on the Internet, and mobile marketing. The main conclusion is that entrepreneurial marketing has a number of specific features arising from financial limitations of financial. Digital marketing does not require significant financial resources allocation and therefore represents an indispensable component of the entrepreneurs' market orientation.

Abstract
According to the impact, infectious diseases are a critical risk for 2020 and the following years in the Global Risk Report. The realization of the Covid-19 virus set the pandemic as a crucial global risk for humans, the economy, and society. The main idea of this paper is to give insight into the global socio-economic consequences of the actual Covid-19 pandemic, with a specific view of the business of insurance and reinsurance companies, who are responding to the widening of the COVID-19 pandemic on multiple fronts—as claims payers, employers, and investment managers. Considering that both individuals and businesses face high costs and losses regarding disruption of travel, business interruption, and supply chains, many expect insurers to reimburse some of these costs and losses. Insurance companies are also significant investors in financial markets and will face losses due to equity and fixed income market losses regarding decreasing interest rates as an attempt of central banks worldwide to support their economies. The current crisis can also be considered the possibility of improving the insurance coverage related to pandemics by establishing (re)insurance schemes and pooling arrangements for other catastrophic risks and developing public-private partnerships to support the insurability of pandemic risk.

Abstract
The characteristics of the developing market to which the Serbian market belongs are: illiquidity, low turnover and nontransparency. The aim of this paper is to examine the possibility of application of the Markowitz's model for forming the set of efficient portfolios on the capital market in Serbia. The research is based on previous theoretical and empirical research in the world. Statistical methods of determining return and risk, matrix of variances and covariances for liquid shares have been applied. Portfolio optimization has been conducted by add-in programme Solver included in the Microsoft Excel package, respecting the limitations according to Markowitz's model. The results of the analysis have shown that the set of efficient portfolios, which meets the criterion that they give minimal risk for the given return, can be formed on the capital market in Serbia. The results show that Markowitz's model allows the investors to select the efficient portfolio, but only for liquid shares, depending on the risk they are ready to accept. The findings of this paper indicate that expressive illiquidity on the Serbian market and insufficient number of shares for diversification by sectors make the practical application of the research results difficult.