The concept of corporate social responsibility implies that the company has far more responsibilities that overcome its basic economic responsibility. Corporate social responsibility is the imperative of modern business and one of the prerequisites for achieving competitive advantage. Thus, in order to be socially responsible, it is important for a company to demonstrate a certain level of responsibility towards its stakeholders. Historically, the concept of social responsibility has been the subject of numerous discussions, but also different theoretical models. Some of these will be presented in the paper. The aim of the paper is to explore the notion of corporate social responsibility, with the presentation of social responsibility in Bosnia and Herzegovina, and the analysis of the perception of social responsibility of representatives in local companies. Paper shows results of the research of 100 companies in Bosnia and Herzegovina, about their most important stakeholders and various types of social responsibility. The paper will also examine the impact of sociodemographic factors and job characteristics on the attitudes about corporate social responsibility. The paper, in addition to the conclusion, offers concrete recommendations for improving the state of corporate social responsibility in Bosnia and Herzegovina.

Abstract: With the development of technology, especially information and communication systems, new ways of providing services emerged, based on the model of "collective consumption" or "sharing economy". This represents a trending economic phenomenon when it comes to consumption. Within sharing economy, consumers are organized by using specific technological platforms that enable them to innovatively consume or produce a particular product/service. These models provide maximum use of scarce resources on the basis of technological support and social capital of the community. Consequently, efficiency and confidence are essential for the functioning of sharing economy, whose size is estimated at 225 billion dollars by 2025. However, these trends are not evenly distributed and the development of the sharing economy depends on a series of conditions, which will be discussed in the paper. Thus, sharing economy makes tremendous challenges for all relevant stakeholders, especially the governments, in the context of adjusting the regulatory framework to meet its demands. Compared to developed countries, Western Balkan countries are significantly lagging when it comes to sharing economy. This is reflected in the lack of foreign and domestic investment in this area. The aim of this paper is to present the conceptual framework for this new economic trend, with the emphasis on the current state of sharing economy in Western Balkans. Paper will focus on the discussion of development potentials of sharing economy in the function of rural business development. Based on this, a set of recommendations will be made for improving the state of sharing economy in the Western Balkans. Keywords: sharing economy, Internet, rural development, Western Balkans JEL Classification: O18, O33, M13

Credit risk is the most important risk among all other risks in the banking business, because almost over 80% of bank balance sheets relate to this segment of banking risk management. One of the biggest problems of commercial banks in Bosnia and Herzegovina are non-performing loans whose share in total loans has increased significantly since the onset of the global financial crisis. The main objective of the research is to determine which of the macroeconomic variables have the strongest impact on the increase of return on average equity and whether it is possible to reduce the credit risk of banks with adequate legislation as the main factor in the slowdown in credit expansion. The main goal will be to divide the impact of an independent variable, i.e. the share of liquid assets in total assets and whether its increase indirectly affects the return on equity and indirectly, the credit risk. The quantitative model used in this study will be the Merton model. Testing will be conducted through multiple regression analysis for the period 2008-2016 with the help of the software package STATA.

Tržišta akcija su efikasna ako cene u bilo kojem momentu reflektuju sve javno dostupne informacije. Cene akcija bi trebalo da se prilagode u momentima kada investitori pokušavaju da iskoriste nove informacije koje nisu bile predmetom računovodstvenog evidentiranja. Osnovni cilj ovog rada je da se utvrdi da li zaista finansijski izveštaji odabrane skupine preduzeća koja kotiraju na Sarajevskoj i Banjalučkoj berzi predstavljaju dobru baznu osnovu i odraz tržišnih cena ili naprosto služe kao zakonska obaveza i zahtev regulatornih agencija. U radu će biti sprovedena regresiona analiza zavisne i nezavisnih varijabli za period od 2011. do 2015. godine. Kao zavisna varijabla će biti tretirana zatvarajuća cena trgovanja na berzama, dok će se kao nezavisne varijable koristiti sledeće: odnos tržišne cene i zarade (PE racio), zarada po akciji (EPS), neto dobit nakon oporezivanja (ND), ostvareni profit na akcijski kapital (ROE), odnos tržišne i knjigovodstvene vrednosti (PB), i ukupan promet na berzama (PR).

Introduction/Objective Activation of insulin-like growth factor receptor (IGF-1R) results in cell transition from growth phase to synthesis phase of cell cycle. Breast cancer is categorized into prognostic and therapeutic subtypes based upon hormone receptor, estrogen receptor (ER), and progesterone receptor (PR) expression and human epidermal growth factor receptor 2 (HER-2) expression. The objective of this study was to examine the expression of IGF-1R in а specific subtype invasive breast cancer and its correlation with basic histopathological and immunohistochemical prognostic parameters. Methods Formalin-fixed paraffin-embedded tumor samples were obtained from 129 female patients with invasive breast cancer (I–III disease stage) with the follow-up ranging 36–108 months (average 48 months). For immunohistochemical staining, we used monoclonal antibodies for ER, PR, IGF-1R, and polyclonal antibody for HER-2. Results IGF-1R inversely correlated with tumor stage (p = 0.017), tumor grade (p = 0.001), HER-2 (p = 0.003), whereas significant positive correlation was found with multifocality/multicentricity of breast cancer (p = 0.036), ER (p = 0.001) and PR (p = 0.0001) expression. Cox-regression analysis for relapse-free survival (RFS) showed that disease stage (p = 0.039) and HER-2 (p = 0.033) were independent prognostic factors. IGF-1R did not predict clinical outcome in patients with breast cancer (p = 0.488, Kaplan–Meier test for RFS). Conclusion Patients with low stage and grade hormone-dependent breast cancer had a significantly higher IGF-1R expression than patients with triple negative or HER-2 overexpressed cancer. The present findings also highlight that IGF-1R expression in multicentric/multifocal breast cancer supports the key roles in tumor initiation.