IRMO scientist Nevenka Čučković, PhD, and Prof. Valentina Vučković, PhD, from the University of Economics and Business, Zagreb, published an original scientific article titled “Greening of SMEs in Western Balkan Countries – Evidence from Firm-Level Analysis” in the journal Economic Annals (Vol. 69, No. 243). The journal is indexed in Scopus and EconLit.
The article analyses the determining factors and challenges that SMEs face in implementing green transition measures. A key focus is on identifying which SMEs could potentially play a dynamic role in the green transition in Western Balkan countries. To achieve this, a multinomial logit analysis was conducted on a sample of 1,160 firms from Montenegro, Serbia, North Macedonia, Bosnia and Herzegovina, and Albania. The results obtained reveal that internal factors (such as innovation and strategic orientation) and external factors (such as regulatory pressures and competition) significantly influence the adoption of green measures, particularly those that are more capital-intensive. The article contributes to the literature by highlighting the complex interplay among firm characteristics, external factors, and the adoption of green practices.
The article is available in open access here.
