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This paper analyses the role of intellectual capital (IC) as a factor of the financial performance of entrepreneurial firms, which are recognized as the main drivers of economic growth and employment.

The sample consists of 188 business owners from Serbia. The primary data are collected using the questionnaire, while the secondary data come from the annual financial statements of their companies. The elements of IC as independent variables are grouped into three components: human, structural and relational capital; sales revenue and operating profit CAGR (5y) are used as dependent variables, while company size and industry type are used as control variables. Statistical analysis involves factor and regression analyses.

The results reveal that IC components contribute to the long-term financial performance of entrepreneurial firms. Specifically, the following elements have positive effects on financial performance: knowledge of the entrepreneur, process improvement and organisational culture. On the other hand, entrepreneurs’ social skills and tenacity were found to have a negative impact on revenue and operating profit growth, while support from informal networks had a negative effect on the growth of sales revenue.

This study aims to fill a gap in the literature on the impact of IC on the financial performance of entrepreneurial firms.

This paper aims to explore the innovation performance of Serbian family firms, the differences in the innovation performance between family and non-family firms as well as different family firms, and the relationship between business process innovation and customer satisfaction among family firms.

The sample consists of 207 valid responses from young Serbian companies from various industries founded in 2015 that published their financial statements in 2017. The statistical analysis involved descriptive statistics, reliability analysis, independent samples t-test, one-way ANOVA, and correlation analysis.

The study results indicate that family businesses in Serbia are innovation-oriented and that they introduced a number of innovations in business processes related to the production and distribution of goods or services and the development of products and business processes. The results also suggest that family and non-family firms are equally committed to introducing innovations in business processes. In addition, the study did not confirm significant differences in the performance of business process innovations among family firms in the manufacturing, trade, and service sectors. Finally, the results demonstrate that introducing business process innovations is positively associated with customer satisfaction and customer retention rate in Serbian family firms.

This paper presents the first comprehensive analysis of the innovation performance of Serbian family firms and can help policymakers assess the contribution of innovation to economic goals.

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Family firms can better compete with non-family counterparts through a focus on enhancing their innovation capabilities. Exploiting digital technology to consider both product and business process innovations enables swift launch of new product and service offerings and increased process efficiency that ultimately leads to increased satisfaction among customers.

The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

The purpose of this paper is to set out the policy guidelines and recommendations to harmonise the Serbian water legislation with European Union standards in the area of water system management as impacted by climate change.

The EU Water Framework Directive is analysed in the context of implementation of the integrated water management policy presented in the Serbian Water Law (2010), as well as the National Water Management Strategy (2016). It has been found that the water management legislation that deals with the impact of climate change on water resources is incomplete. Although there are numerous challenges related to research of climate change and water systems, water policy and legal aspects cannot be neglected. The so-called soft law instruments represented in a form of strategy documents could be a valuable response in terms of an adaptive and integrated water policy approach.

The research is applied to a case study of the Velika Morava River Basin, at Ljubicevski Most hydrological station. Long-term projections suggest a decrease in annual precipitation levels and annual flows up to the year 2100 for climatic scenarios A1B and A2, accompanied by a rapid increase in air temperatures.

This study proposes a water management policy and provides recommendations for the Velika Morava River Basin as impacted by climate change, according to the European Union legislation.