Search results

Accidents occur in all transport modes and can cause significant material damage and loss of life. To efficiently allocate resources that enable the reduction of accidents, it is necessary to estimate the value of a statistical life (VSL). This study aims to show how the statistical value of human life in air and road traffic is determined.

This study examines and applies recent empirical evidence aimed at clarifying the basic concept of the VSL and defining the reasons for its importance in evaluating public policies in aviation safety and road traffic safety. The research focuses on the principal equity indicators, both theoretical and empirical, that must be confronted to provide a credible estimate of the VSL.

Previous research shows that the VSL could have a considerable range of possible values. This study emphasizes that risk reduction funds need to be distributed in a consistent and equitable manner to achieve the best outcomes for society as a whole.

This research will guide future research efforts towards understanding the impact of the estimated statistical life value on air and road safety implications.

This study strengthens awareness of the importance of the VSL in evaluating public policies in the field of aviation and road safety.

To the best of the authors’ knowledge, this study is one of the first to compare air and road traffic from the perspective of the VSL evaluation.

The aim of this paper is to show how a bank's brand value is quantitatively assessed using the Interbrand methodology, taking into account the specifics of the banking market. Therefore, the objective of this paper is to review the ways in which brands contribute to the higher market value of banks by strengthening intellectual capital (IC), as reflected in increased levels of competitiveness and the reputation that the bank maintains in the minds of customers.

This paper applies the Interbrand methodology, which indicates that the assessment of brand value implies the determination of economic profit as the difference between the net operating profit after tax and the cost of capital. The brand profit is then calculated as the product of the economic profit and the index of the brand role. Brand value is obtained as the product of the brand's profit and the discount rate of the brand. In order to further test the results obtained through the application of the Interbrand methodology, linear regression was applied to the panel data in order to provide more efficient econometric estimates of the model parameters.

This research has shown that the Interbrand methodology's empirical foundations lie in the Montenegrin banking market, but also that, out of all of the analyzed parameters, the greatest significance is obtained from the profit of the brand, which influences the value of bank brands.

This research is related to the service sector–in this case, financial services – meaning that it is necessary to adjust the calculation of the weighted average cost of capital. Although the banking sector is a very competitive market, a limitation exists in the fact that the research was conducted only in Montenegro. In other words, in order to achieve a more detailed analysis, this methodology should be applied to more countries, such as those within the Western Balkans, as they have a relatively similar level of development.

A main contribution of this paper is that the assessment of the banks' brand value could be useful to future investors. Therefore, the improvement of the financial sector–in this case, banks–as institutions that hold a dominant position in the financial market in Montenegro, is a particularly important issue. It is important to point out that the research conducted could serve as a means by which to bridge the gap between theory and practice, since the methodology of the consulting company Interbrand has been optimized and adjusted to the Montenegrin banking market.

On considering the fact that most countries of the Western Balkans are at a similar level of development, the authors can conclude that, with the help of this adapted form of methodology, this research can be applied to assess banks' brand value in neighboring countries.

This paper serves as the basis for further research as the analysis of banking institutions that comprise both marketing and financial aspects, i.e. the application of the Interbrand methodology, was not conducted in Montenegro. Also, this paper overcomes the literal gap between theory and practice as there is little research thus far involving the application of the Interbrand methodology to the field of finance; especially in the field of banking. The authors point out the specifics of the banking sector as a key explanation for this. This is why it is necessary to make certain adjustments to the methodology. The research has positive implications for banks' internal and external stakeholders. The originality of this research is reflected in the fact that the Interbrand methodology has been optimized in order to assess the brand of banks, taking into account the specificity of the analyzed market. Brand is analyzed as a component of IC: another factor that exemplifies the value of this research.

This paper aims to define and theoretically analyse the performance of modern methods investigated to speed up the recultivation process of degraded areas, and apply it into the mining basin, open pit mines, tailings and all other areas, which need environmental quality improvement.

This paper presents methods of conservation and substitution of natural resources for the purpose of faster land recultivation (reclamation) in degraded coal mine areas. Two types of methods have been developed: forest slope recultivation and agricultural recultivation of flat landfills. Indicators of positive changes include: changes in chemical properties of tailings, increase in biogenic properties and changes in biodiversity.

The research results show that the application of these methods, along with the holistic approach and adequate investment, can significantly contribute to the length of recovery process and accelerate it.

Mining basin Kostolac is used as a model test. The results can be applied on all mining basin, open pits and any degraded area.

All results and conclusions were drawn, based on the original measurements and experiments. Stake holders, wanting to manage environmental quality after exploitation in mining basin, applying those methods, can find the value of this paper.