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  • Extent and characteristic of diversification among Hungarian agricultural holdings
    37-44
    Views:
    111

    Through the connection to rural resources agriculture has an impact on the three functions of countryside: ecology, society and economy. Resources of economy and production environment are continuously changing thus farmers have to adapt to these changing circumstances. One of the adaptation methods is the diversification of activities to promote effective capacity utilization and additional profit. However there is no standard definition of diversification from the point of agricultural economics aspect both traditional approaches and the influence of European Union should also be considered to define it. Diversification and alternative income opportunities could be subsistence possibilities for several farmers. This could be defined not only at private holdings’ but at enterprises’ level. According to a traditional approach Hungarian statistical databases collect on-farm and off-farm agricultural activities depending on the connection to resources of a farm business. Analysing this database an overall picture could be defined considering the position and characteristic of diversified farmers and the popularity of each activity among agricultural producers. Based on a study, published in 2011 (Hamza, 2011) this paper also involves the latest statistical data (2010, 2013). Analysing dataset of period 2000-2013 this paper gives an overall overview about national and regional position and characteristics of diversified holdings and activities.

    JEL code: Q19

  • Environmental management activities of NHL teams
    Views:
    173

    Over the past two decades, the sports sector has paid increasing and growing attention to understanding sustainability, including the environment, and in particular what can be done in practice. The purpose of this study is to examine the environmental CSR measures adopted by professional hockey teams in North America.

    To answer my research question, I used a comparative analysis based on secondary data sources. For all 32 teams, I examined the available reports and their information on CSR activities, the information published on the teams' websites, and the research results related to the teams. I have selected 3 teams (Minnesota Wild, Pittsburgh Penguins, Seattle Kraken) that are at the forefront of the issue under study, using an evaluation system based on international literature, and case studies to showcase good practices that can serve as examples for the sports sector.

    JEL Code: Q56

  • Willingness to pay for locally produced organic foods by urban consumers in Sri Lanka
    15-22
    Views:
    399

    Organic food consumption is gradually increasing among Sri Lankan consumers due to an increased awareness on healthy food. Some consumers ready to pay more for organic food, but it varies according to many factors. Therefore, the main objective of this study was to evaluate the urban consumers’ willingness to pay (WTP) for organically produced food in Sri Lanka. The specific objectives of the research were to investigate the socio-economic factors, the level of awareness on organic food, the present situation of buying, and the level of additional price ready to pay and analyze the impact of socio-economic factors on consumers’ willingness to pay. The research was conducted in urban Sri Lanka, covering capital cities of six urban districts of the country; Colombo, Galle, Gampaha, Kandy, Kurunegala, and Rathnapura. Data were collected from November 2016 to May 2018, from 600 consumers, by selecting 100 consumers per city. Data analyses employed were a descriptive analysis and binary logistic regression. Results revealed that, the most of the consumers were females, married, and with a comparatively higher level of education and monthly income. Most consumers had a significant level of awareness about organic food. A lesser proportion of consumers (24%) buys organic food at present, while the majority (52.4%) was willing to pay an extra price. Out of these consumers, the highest percentage (29.3%) prefers to pay 26% to 50% premium prices. As per the results of logistic regression, age, gender, monthly income, and education were the deciding factors for consumers’ willingness to pay a premium price for organic food. Results of this research are helpful for the development of production and marketing strategies and awareness programs for urban consumers on local organic food products.

    JEL CODE: Q1, Q13

     

  • Sheep production in Hungary – is it a sustainable sector?
    95-100
    Views:
    139

    The question of sustainability of agricultural production especially animal production and events leading to its development can be dated back to the second part of the last century. Sustainability is a priority subject matter as it is a core element in our existence and in the survival of the forthcoming generations. The notion of sustainability comprises three aspects: ecological, social and political and economic target systems, which by now have been supplemented with cultural and regional elements including the protection of environment, local traditions, scale of values, cultural and historical heritage. The principles of sustainable development also include the improvement of human and animal health and the maintenance of vital rural communities. The priority notion of sustainability of agricultural production refers also to animal husbandry and especially sheep production. Sheep have contributed substantially to the grassland-based agricultural production in Hungary for centuries. Sheep sector is important in rural areas as the tool of sustainability of animal production. It should also be highlighted that contrary to numerous efforts, the globally difficult process of sustainable development poses almost unsolvable problems for implementers even on local and regional levels. This paper will review briefly the levels of sustainability in the Hungarian animal production with a special regard to sheep production and their content and then points out the most significant economic issues by the application of “SWOT” – analysis, “problem tree’and “structure of objectives” methods, on the grounds of the received findings.

  • Performance indicators in CSR and sustainability reports in Hungary
    137-142
    Views:
    310

    Corporate Social Responsibility (CSR) or Corporate Sustainability reporting is a relatively new phenomenon in Hungary. As the external pressure from the civil society, public authorities and the media has so far been fairly low, this important corporate activity emerged only at the beginning of the last decade. In spite of this, several pioneering companies have started to publish information on its environmental and social performance in recent years. CSR and sustainability reports are seen increasingly as strategic documents that offer a balanced, objective, and comprehensive assessment of a firm’s non-financial performance. In 2008 and 2009, more than a third of the 100 largest companies reported on their non-financial results (most of them were GRI based reports). In 2010, sixty-one organisations published a report about their non- financial performance, and 22 of these for only the first time. The aim of this paper is to present recent attempts to use indicators in CSR and sustainability reports. On the basis of a detailed review of 70 CSR/sustainability reports published during the last 9 years in Hungary, an analysis was made on the performance indicators appearing in the reports. The motivations of indicator selection processes was analysed and the intended roles of indicator set in communication and strategy design was presented. The significance of and limits to the proposed indicators was discussed.

  • Enhancing the effectiveness of thermal water consumption via heat pumping
    53-58
    Views:
    134

    Renewable technologies and the extension of their scope of usage basically has to face the general obstacles like any other novelties newly introduced to the market. In the case of environmentally friendly and clean technologies we must consider another critical aspect: the knowledge and the trust of the potential future users. To influence these people first we must extend their knowledge regarding renewable energies so they will be able to change their own approach about them. Usually the most crucial factor is the economic efficiency which determines the attitude of the majority of the users. Even the ones whose decision making process is highly based on the environmental patterns. In the case of any technology, the economic aspect is significantly influenced by its operational effectiveness. So this analysis – besides the direct economic matters – aims to examine how the performance of thermal water heating in greenhouses can be improved by using heat pumping.

    JEL classification: Q42

  • Comparing parametric and semiparametric error correction models for estimation of long run equilibrium between exports and imports
    19-23
    Views:
    137

    This paper introduces the semiparametric error correction model for estimation of export-import relationship as an alternative to the least squares approach. The intent is to demonstrate how semiparametric error correction model can be used to estimate the relationship between Ghana’s export and import within the context of a generalized additive modelling (GAM) framework. The semiparametric results are compared to common parametric specification using the ordinary least squares regression. The results from the semiparametric and parametric error correction models (ECM) indicate that the error correction term and import variable are significant determinants of Ghana’s exports. On the basis of Akaike Information Criteria and Generalized Cross-Validation (GCV) scores, it is found that the semiparametric error correction model provides a better fit than the widely used parametric error correction model for modeling Ghana’s export-import relationship. The results of the analysis of variance provide further evidence of nonlinearity in Ghana’s export and import relationship. In effect, this paper demonstrates the usefulness of semiparametric error correction model in the estimation of export – import relationship.

    JEL code: C14, C18, C22, F10, F14

  • Factors associated with sustainability of agripreneurship interest among graduate youth in Southwestern Nigeria
    Views:
    218

    The paper examined factors associated with sustainability of agripreneurship interest of graduate youth in Southwestern Nigeria. It specifically described the socio-economic characteristics of the respondents; identified their agripreneurship activities of interest and identified factors associated with their interest. A multi-stage sampling procedure was used to select 185 respondents from the selected the Local Government Areas in Southwestern States, quantitative and qualitative data were collected using semi structured questionnaire and Focus Group Discussion (FGD) respectively. Data were analyzed using descriptive statistical tool such as frequency counts, percentages, means and standard deviation while factor analysis was used to isolate crucial factors associated with sustainability of agripreneurship interest of serving graduate youth in the study areas. Results showed that respondents had a mean age of 26.18 ± 2.74 years and majority (75.7%) were not graduates of agriculture. The agricultural enterprises of interest to the respondents were poultry farming (67.6%)’ fish farming (56.5%) and snail farming (50.9%). Crucial factors found to influence sustainability of graduate youth’s interest in agripreneurship were motivational, parental influence, community asset and institutional factors among other. The study concluded that these identified factors were germane to the sustainability of graduate youth’s interest in agripreneurship in Southwestern Nigeria.

  • Agribusiness higher education development – training needs analysis
    107-120
    Views:
    126

    With the tremendous changes in political and economic systems of the Republic of Croatia after independence, new challenges have been put to the higher education system as well. The system used to be structured to serve a centrally planed economy with predominantly state ownership. Universities were producing graduates to be employed on statefarms,inagri-foodsystems(socalled„kombinats“),the state owned processing industry or cooperatives. The graduates were specialised in particular branches, such as crop production, vegetable production or livestock husbandry. Therefore, they were not educated to understand the whole system of a company or the agri-food system. In one word, they were not prepared to run firms as managers, although they were highly educated. Small and medium size entrepreneurs in agri-food business have been rather an exception than a rule, and prior to the transition there was not to much experience in managing, financing or marketing for such a firms. 

  • Agricultural cooperatives and their membership in cooperative unions in Serbia
    25-32
    Views:
    132

    Goal of this paper is to analyse business of agricultural cooperatives in Serbia and their territorial distribution. Paper also comprehends analyses of premises of directors of agricultural cooperatives towards cooperative associations, based on result of survey conducted on chosen sample. Analysis is based on the hypothesis that reform processes present in the Serbian economy, and completely absent from cooperative sector, have weaken the work of cooperative unions and undermined regular relations between cooperatives and their associations. Paper also analyse premises of directors of agricultural cooperatives on relevant questions on membership and work of 12 regional, provincial and Cooperative union of Serbia, based on result of survey conducted in 148 or 7.2% of 2.055 agricultural cooperatives in Serbia. For cooperatives that are not members of any union, paper gives systematization of reasons why cooperative is not member and motives that could inspire cooperative to become a member. For cooperatives that are members of some union, we give analyses of answers if cooperative is satisfied with work and activities of union conducted for cooperative welfare; and suggestions for activities that cooperative unions should practice in the interests and needs of their members.

  • Analysis of the cavebath of Miskolctapolca’s brand elements and guests satisfaction
    155-160
    Views:
    244

    In the region of Northern Hungary the unique Cavebath of Miskolcatapolca is one of the leading health tourism service positioning itself on national and international market with its developing supply items and 4 star qualifications. It has a unique natural background all over in Europe; this uniqueness gives an opportunity to develop brand, which is a determinative item of competitiveness. Because of the competition between destinations and the ever-changing nature of tourists’ expectations and behavior tourism destinations need to be managed as other commercial brands. The aim of our research was to analyze the role and possibilities of product development which is based on the unique natural factors, and to help to expand the domestic health tourism supply. We examined how the possibility of branding and brand equity change based on brand elements; how satisfied are guests with the services; how often guests visit the bath; what kind of period guests arrive in the bath; what kind of services do guests try; how do guests arrive in the bath with. In summer of 2014 we asked 210 Hungarian customers to fill the questionnaire in the Cavebath. The choosing of guests happened randomly. 199 questionnaires were correctly filled.

    JEL CODE: Z32

  • Subsidies are Potential Sources of Profitable Management – Their Payment Between 2010 and 2016
    97-120
    Views:
    167

    Based on the allocations and distributions of subsidies in the sheep sector in the previous years (2004-2009), the authors examined the sum of aids claimed and paid from 2010 to 2016 and their farm-size related changes. The following data were collected from the Agricultural and Rural Development Institute on payments under specific subsidy titles, classified by sheep and goat farm sizes: 0-50; 51-100, 101-200, 201-300 and also 0-100, 101-300, 301-500, 501-1000, 1001-5000 and above 5000. Data procession was carried out by the SPSS for Windows 22 program. The size and population of the examined sheep sector underwent visible changes during the studied years leading to a reduction rather than growth. Their analysis highlights that size distribution of sheep farms has changed significantly in recent years, combined with simultaneous modifications of their sheep stock sizes in production. Their conclusions suggest that effects of years and farm sizes in the sheep and goat sector have considerably modified the aid sums paid under different titles.

    JEL Classification: H5, Q14

  • A Matrix Model for Integrated Pest Management as a Combined Function of Extension Education and Economic Concepts
    Views:
    177

    The Farmer Field Schools (FFS) help to establish the significance of the Integrated Pest Management (IPM) concept, i.e., the FFS contributed to demonstrating the importance of the IPM idea. In this paradigm, the integrated pest management specialist's decision is based on the application of agricultural extension and economic principles. This requires an analysis and understanding of the ecosystem and plant physiology, followed by monitoring the population dynamics of the pest to determine the pest’s economic injury level, and finally, determining the appropriate action to suppress it. The transition point from organically integrated pest control measures to chemical pest control is when pest density exceeds economic injury. In other words, when pest density surpasses economic damage, an organically integrated pest control approach gives way to the chemical pest control method. This study advises conducting research experiments and studies to ascertain the economic impacts of pandemic pests on the targeted crop, such as powdery mildew and aphid pests in the protected tomato plant culture.

    JEL CODE: Q16

  • Analyzing the organizational questions of the elite youth academies by the case study of football academy of Debrecen
    79-85
    Views:
    316

    Thanks to the effect of the resources flown in to the youth football, the previous, and more simpler structural scheme of the clubs went under a transformation. I will analyse the operation of the youth sport enterprises as economic companies, and the organizational scheme with the most important managerial questions faced in the firm. This will be based on the case study of the Football Academy of Debrecen. In the first part of my publication, I will investigate the evolution and the importance of the sport enterprises, with the relevant scientific literature. In the second part I will discuss the structural scheme of the Football Academy of Debrecen with the analysis of the separate departments. I will search for the differences between the youth sport enterprises and the organisations who are operating as a professional football club.

    JEL code: Z2

  • The use of models in optimizing the field crop production in agricultural enterprise
    105-108
    Views:
    99

    The full use of resource capacities of agricultural enterprises favorably affects the general increase in economic efficiency and rational production making them more competitive in the market. This creates the need for constant improvement of business strategies that uses all available resources to create the most profitable production. The main objective of this study was to find the ideal structure of production in agricultural enterprise and to enable the realization of maximum profit using the available production resources (land, mechanization, labor forces). As the basic method of planning, this study used the simplex method of linear programming which gives the most profitable sowing structure after detailed analysis of resources and achieved results, based on the limitations and gross margin. This work showed that the use of modern methods in production planning is one of the cheapest and safest methods for development of agricultural enterprises.

  • Analysis of the leisure sport activities in University of Debrecen
    75-80
    Views:
    124

    The sports program of the professional higher education focusing on the leisure sports opportunities. New needs, change in taste and new leisure habits of the young generation should be taken into account to design the University’s leisure sports program. In my study I was dealing with a questionnaire survey investigating the attitude of the students of the University of Debrecen to leisure sports, and the students’ opinions about their own physical status. Data collection was completed on a paper based questionnaire, 42 closed-type questions were included and a total of 213 students completed it. In conclusion I found that the students are satisfied with their physical states although not many of them do sport on a regular basis. I revealed the primary excuses for neglecting sports: lack of time, laziness and timetable discrepancies. These findings make it imperative that by avoiding the existing discrepancies the students be provided the widest range of time in their time tables available for physical activities.

    JEL code: Z20

  • Assessing the financial viability of the floricultural industry in Ghana
    119-126
    Views:
    164

    This study determines the financial viability of the floricultural industry in Ghana using both discounting and non-discounting investment appraisal methods. The feasibility analysis suggests that large-scale floricultural firms are more profitable particularly with the production of cut flowers. However, investors with limited capital can venture into small-scale production specifically cut flowers. The conclusion is that the floriculture industry is financially viable therefore investors are encouraged to expend their resources in the industry. We recommend that the government and stakeholders need to create institutional support to enable the already established firms to further develop and attract new investors in the sector.

    JEL. Code: Q13

  • The use of models in optimizing the field crop production in agricultural enterprise - MBA thesis
    93-96
    Views:
    173

    The full use of resource capacities of agricultural enterprises favorably affects the general increase in economic efficiency and rational production making them more competitive in the market. This creates the need for constant improvement of business strategies that uses all available resources to create the most profitable production. The main objective of this study was to find the ideal structure of production in agricultural enterprise and to enable the realization of maximum profit using the available production resources (land, mechanization, labor forces). As the basic method of planning, this study used the simplex method of linear programming which gives the most profitable sowing structure after detailed analysis of resources and achieved results, based on the limitations and gross margin. This work showed that the use of modern methods in production planning is one of the cheapest and safest methods for development of agricultural enterprises.

  • Comparing the levels of expectation and satisfaction of Indian and foreign adventure tourists visiting India
    5-13
    Views:
    370

    Purpose – The present study is undertaken to explore the difference between expectation and satisfaction level of Indian and foreign adventure tourists and the relationship between the levels of expectation and satisfaction of Indian and foreign adventure tourists.
    Methodology – The data has been gathered from a sample of 300 adventure tourists comprising of 150 Indians and 150 foreigners. A principal component analysis with varimax rotation has identified 28 relevant items, which are broadly clustered into 6 significant factors. They are labeled as Aesthetic Appeal, Facilities, Accommodation, Information, Food and Safety and Security.
    Findings – The findings of this study revealed significant differences between the levels of expectation and satisfaction of adventure tourists of Indian and foreign origin. The level of expectation among the Indian and foreign adventure tourist is higher and, comparatively, the level of satisfaction is lower. The level of expectation and the level of satisfaction of Indian adventure tourists are positively and significantly correlated with respect to variables such as Aesthetic Appeal, Facilities, Safety and Security and Accommodation. For the foreign adventure tourist, the level of expectation and level of satisfaction are positively and significantly correlated with respect to variables such as Information, Aesthetic Appeal, Facilities and Food.
    Practical Implications – The research findings will help in the promotion of adventure tourism in India.
    Originality/ Value – The identified factors can be used for similar kinds of studies at different destinations. The results of the study would be instrumental in developing strategies for ensuring more satisfied tourists.

  • THE PROFIT EFFICIENCY OF MORINGA OLEIFERA PRODUCTION IN OSUN STATE, NIGERIA
    Views:
    71

    This study examined the profit efficiency of Moringa oleifera production by farmers in Osun State, Nigeria. Primary data were obtained from 150 respondents. Multistage sampling procedure was used for selecting respondents. The data were analyzed with the aid of descriptive statistics, budgetary analysis and stochastic frontier production function. The findings revealed that male predominate moringa enterprise with about 55.3% male, most producers fall between the age bracket 41-50years with a mean age of 44.92 (± 13.168) years and the average farm size is 0.3 hectares whilst indicating that most producers had less than 0.1 hectares of land. Moringa production had a benefit cost ratio of ₦5.852, profit margin of ₦0.182, expense structure ratio of ₦0.107, net return on investment ₦4.857, rate of return of ₦5.482 and profitability ratio of ₦0.981. The average profit efficiency of moringa producers was 18.73% on the profit frontier.  Family labour, hired labour and transport cost were significant and had positive coefficient while the seed cost, pesticide cost, level of education and farm size are also significant but bears negative coefficient. The level of education and farm size are amongst the inefficiency variables considered. This study concludes that Moringa oleifera production is highly profitable but producers have not been able to maximize profit efficiency. It therefore recommends that producers improve on adding value to moringa products and extend their channels of distribution considering the cost incurred on transportation.

  • Towards innovative environmental management in the Agro-food Industry
    7-14
    Views:
    127

    This article focuses on the problem: what external (stakeholder) and (internal structural/organizational) factors drive companies in the food- and agribusiness towards innovative environmental management? Innovative companies are those considered to have adopted a supply chain perspective, instead of a focus on the single business unit. We propose that innovativeness is associated with stakeholder wishes (the government, the public environmental policy being a major influential factor), in combination with structural characteristics of the firm (like R&D-efforts, culture and managerial competences). We surveyed 492 companies in 2002, to get insight into the causes of innovativeness in the Dutch agri-food sector, and supplemented this data by means of a similar questionnaire in 2005. Structural equation modeling and correlation analysis were applied. The research provided evidence that companies are restricted by, and therefore not comfortable with, public environmental policies, which seem to obstruct innovativeness rather than stimulate it. Firms that(1) have enough internal (physical, financial, social)resourcestoinnovate, and (2) are more embedded in a web of (commercial) stakeholder wishes, prove to be more innovative. Suggestions are made to shift the corporate and public policies towards a supply chain-oriented approach by granting benefits for vertical cooperation in supply-chains.

  • Sustainable initiatives in marginal rural areas of Serbia: A case study of dimitrovgrad municipality
    7-13
    Views:
    84

    This paper is based on a 2009 case study research on the role and impacts of rural initiatives in Dimitrovgrad, South-eastern Serbia region. This area is of interest, because of local efforts to conserve autochthonous livestock breeds, and the work of small holders and independent professionals involved farming and rural tourism activities. The research used participant visits to initiative places, drawing on farm visits, meetings with stakeholders and analysis of secondary information. The study highlights that local organizations are running without link to initiatives.Although, Serbia country has well structured rural developments programs, those still are harmonising.Thus, throughActor-Network approach is suggested which turn around a farm manager. This may represent to all stakeholders within itiatives (on-farm and non-farm). Besides, local food products issues from initiatives may reconnect providers and consumers, revaluing local food products. However, is necessary the institutional and organizational involvement to encourage the initiatives. Furthermore, to promote touristic places, by an integrated rural tourism approach it may involve all stakeholders to promote local products and issues from initiatives. Indirectly it may create local employs.

  • Responsible behaviour or business? Social responsibility (CSR) in sport management
    83-90
    Views:
    495

    CSR has become increasingly important in today’s business world and managers must consider not only the economic results of their decisions but also the legal, ethical, moral, and social impact and repercussions of each of their decisions. Some multinational companies’ CSR activities even clearly represent applicability of CSR in sport management. The aim of this study was to do a critical comparative analysis, present the changes, alterations in the traditional company philosophy, objectsystem; then to define the concept of CSR, its importance in sport, finally to analyze some of the top 20 World Food & Beverage Companies’ (Coca-Cola, Danone, Nestle) CSR activities in sport management. Similarly to the whole economics – beside traditional theoretical tendencies, parallel to them and not developing them – a new kind of company theory concerning the long-term balance problems of the natural environment and society is being formed. Although the notion of corporate social responsibility (CSR) is prominent in some of the current discussions and investigations about the role of business in society, the concept – integrate social and environmental aspects in their business activity – is not new. According to the websites and sustainability reports of the international parent companies and domestic subsidiaries, we can say, that the companies show similarity at several points with regard to social responsibility within the field of sport management. However we must emphasize that we can find in the domestic practice fewer examples. In this case probably the media plays important role, which prefer the news of scandals such as CSR-related initiatives. In the public the companies’ CSR activities are even less known. Finally we can establish, that about the sport sponsorship the parent companies we have more information, their reports and websites are more transparency. In contracts, in the case of subsidiaries we can meet deficiencies.

  • Economical aspects of thermal and medical tourism
    77-84
    Views:
    148

    Thermal and medical tourism in Hungary are characterised by a continuous development. The management, efficiency, operational effectiveness and offer of enterprises in the field of tourism influence the competitiveness of Hungary’s tourism. In the present day economic life the thorough analysis of the enterprises’ economy is indispensable. The result of the analytical methods applied by the report provide information for different stakeholders (owners, transporters, customers, employees, habilitators). The aim is to have data which inform us about the functioning, financial situation and profitability of the economic entities parallel with the factors and conditions determining these elements. In our paper we present the financial situation of the Demjén Thermal Spa Ltd., being one of the newest thermal spas of Hungary.

  • Perspectives for development social entrepreneurship in republic of Moldova
    21-29
    Views:
    139

    Social entrepreneurship, as a field for research and scientific disputes between scholars and practitioners, it still remains a novel investigation area, as far as new opportunities, challenges, business approaches and concepts appear into the modern world and competitive market. This paper puts emphasis on social framework behind the development of social businesses in Moldova. Moreover, it presents the grass-root state of readiness of existing small and medium – sized enterprises from Moldova to undertake the leap towards the new kind of economy and different organizational approaches. The paper provides a content analysis of specific literature on social entrepreneurship, with particular emphasis on general perception of the small holders and small and medium – sized enterprises on social business. A total number of 593 small and medium – sized enterprises and individuals participated to organized interviews. The survey results show that 66% of the respondents are not acknowledged with social entrepreneurship concept and functionality. From those (34%) who are informed about the topic, most of them are actual young entrepreneurs. Additionally, young entrepreneurs, respondents, wouldn’t reinvest their profit for social mission (73%). Unlike young entrepreneurs, individuals would reinvest their profit in social missions, in case they have a business. These findings suggest that, in the society there is a lack of general understanding on social entrepreneurship. The author also found out that, the general perception regarding social problems is mostly assigned to public authorities instead of enterprises. Moreover, the research results show that the absence of a clear mechanism which would raise public awareness regarding social problems and social capital, affects the active implication of community stakeholders into the societal problems.

    JEL code: M140

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