1. Lean manufacturing and return on equity : evidence from Slovenian manufacturing firms using the DuPont modelSandi Povše, Mirko Markič, 2026, izvirni znanstveni članek Opis: Lean manufacturing is widely recognized as an operational philosophy of process improvement; however, its relationship with financial performance remains relatively underexplored empirically. The purpose of this study is to examine the relationship between lean manufacturing and return on equity (ROE), and to link operational improvements with financial outcomes through the DuPont model. The research comprises a comparative financial analysis of a selected manufacturing company for the period 2019–2023, as well as a quantitative analysis of a sample of 240 Slovenian manufacturing enterprises. Descriptive statistical methods, correlation analysis, and linear regression with a composite lean maturity index were employed. The results indicate that ROE in the analyzed company increased from 4.74% to 11.99%, with growth primarily driven by improvements in net profit margin and process efficiency rather than by increased financial leverage. The empirical analysis demonstrates a statistically significant positive association between the level of lean maturity and ROE (β = 0.255; R² = 0.065; p < 0.001; N = 240). Although the explained variance is moderate, the findings indicate that lean maturity represents a statistically significant and managerially relevant determinant of financial performance within a multifactor business environment. The contribution of the study lies in the integration of the Lean approach with the DuPont model as an analytical bridge between production and financial functions, as well as in the empirical validation of this relationship within the Slovenian industrial context. Ključne besede: return on equit, DuPont analysis, operational efficiency, productivity, lean manufacturing, Toyota Way Objavljeno v RUP: 07.07.2026; Ogledov: 233; Prenosov: 9
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2. CAP subsidies, technical efficiency, and its persistence : evidence from Slovenian animal farmsAndrzej Pisulewski, Jerzy Marzec, Štefan Bojnec, Imre Fertő, 2026, izvirni znanstveni članek Opis: Improving farm efficiency is central to enhancing productivity, income, and structural transformation in European agriculture. However, inefficiency is often persistent and rooted in structural constraints. This paper examines how the Common Agricultural Policy (CAP) affects technical efficiency and its persistence in animal farming, using Slovenia as a case study. Slovenia provides a relevant empirical setting due to the dominance of small-scale farms, strong reliance on subsidies, and limited economies of scale – characteristics shared by many structurally constrained EU Member States. We apply a Bayesian dynamic stochastic frontier model that jointly accounts for efficiency persistence and technological heterogeneity. Using disaggregated CAP subsidy data, we assess how different policy instruments influence short-run and long-run technical efficiency across heterogeneous farm types. The results reveal four main findings. First, there is strong evidence against a common production frontier, indicating substantial technological heterogeneity among animal farms. Second, the effect of CAP subsidies on short-run technical efficiency depends both on the direction of their impact on efficiency persistence and on the level of technical efficiency in the previous period. Similarly, their impact on long-run technical efficiency is shaped by their effect on persistence and by the level of long-run efficiency. Third, the effects of CAP subsidies are heterogeneous across instruments: investment and other subsidies enhance both short-run and long-run technical efficiency, whereas decoupled payments and agri-environmental subsidies reduce efficiency at both horizons. Fourth, payments for less-favored areas consistently lead to a deterioration in technical efficiency in both the short and the long run. Ključne besede: subsidies, technical efficiency, animal farms, Slovenia Objavljeno v RUP: 02.07.2026; Ogledov: 167; Prenosov: 7
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3. Application of artificial intelligence in e-commerce : master's thesisMarko Pejić, 2025, magistrsko delo Ključne besede: artificial intelligence, E-commerce, customer experience, personalization, operational efficiency, recommender systems, chatbots, AI integration, business challenges Objavljeno v RUP: 15.04.2026; Ogledov: 517; Prenosov: 58
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4. Exploring Resilience through Blockchain and Circular Economy : A Review from a Cross-Sectoral PerspectiveTatiana Tolusso, 2025, objavljeni znanstveni prispevek na konferenci Opis: Resilience has become a strategic capability for organisations facing global challenges such as climate change, resource scarcity, and socio-economic instability. The Circular Economy (CE) offers regenerative models to reduce waste and optimise resources, while Blockchain (BC) provides digital infrastructures that enhance transparency, traceability, and trust across supply chains. Despite their growing relevance, research on CE, BC, and resilience remains fragmented and under-integrated. This study presents a systematic literature review (SLR) of 37 peer-reviewed articles published between 2020 and 2025, mapping how CE and BC intersect to strengthen resilience. The review identified several recurring themes, highlighting how the convergence of CE principles and BC technology can bolster resilience across three crucial dimensions: 1) adaptive; 2) organisational; and 3) systemic. Among the most relevant contributions, several central aspects also emerge, including the following: a) the enhancement of eco-efficiency; b) the role of BC in reducing information asymmetries and enabling greater transparency; c) the critical importance of cooperation and shared value co-creation, fostering a glocal approach to resilience that emphasises collaboration among stakeholders. These findings offer valuable observations for facilitating the transition to CE through BC, while also highlighting important avenues for future research such as the dynamics of glocal cooperation and the latent resilience within organisations. Ključne besede: circular economy, resilience, eco-efficiency, blockchain Objavljeno v RUP: 04.03.2026; Ogledov: 683; Prenosov: 20
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5. Analysis of the Effect of Eco-Efficiency on Asset Return in Food and Beverage Manufacturing Companies Listed at the Johannesburg Stock ExchangeDimakatso Hellen Malapa, Collins C. Ngwakwe, 2025, izvirni znanstveni članek Opis: This article examines the effect of eco-efficiency on corporate return on assets (ROA). The paper aimed to analyse whether corporate eco-efficiency performance (represented by energy consumption, water consumption, carbon emission and waste generation) affects the performance of ROA. Data on the eco-efficiency and ROA was collected from fourteen food and beverage companies listed in the Johannesburg Stock Exchange for a period of ten years (2012 to 2021). Using the STATA Software, the data was analysed by applying the Generalised Method of Moment (GMM) statistical technique, which enhanced the statistical analysis robustness. Findings from the GMM analysis showed different results. On the one hand, the results indicate that energy and water consumption in the food and beverage companies have a positive (but insignificant) effect on ROA. On the other hand, the results show that waste generation has a negative (but insignificant) effect on ROA; and that carbon emission has a negative and significant effect on ROA.
Ključne besede: environmental accounting, return on assets, financial performance, eco-efficiency, energy consumption, water consumption, carbon
emission, waste generation, sales revenue Objavljeno v RUP: 18.12.2025; Ogledov: 669; Prenosov: 5
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6. Revolutionizing Hotel Operations with AI : A Case Study on the Power of ChatGPT and Gemini IntegrationPongsakorn Limna, Tanpat Kraiwanit, Tanatorn Tanantong, Todsanai Chumwatana, 2025, izvirni znanstveni članek Opis: This study investigates the implementation and impact of ChatGPT and Gemini in a four-star hotel in Ao Nang, Krabi, Thailand, during January–February 2024. Through a mixed-methods approach combining quantitative analysis and qualita-tive insights, the research assessed operational metrics across multiple service areas and gathered detailed feedback from the hotel owner. The study revealed significant improvements in operational efficiency, with check-in processing times decreasing from 3.3 to 2.7 minutes and AI system adoption increasing from 82% to 93%. Gu-est satisfaction scores showed notable enhancement, with overall satisfaction rising from 4.6 to 4.8 out of 5. The AI systems demonstrated impressive multilingual ca-pabilities, handling 28 languages with 98.7% accuracy, while document processing achieved 99.2% accuracy across various types. Internal communications benefited from 32% time savings, with efficiency rates exceeding 96% across all categories. Staff adaptation, though initially challenging, was successfully managed through comprehensive training and gradual implementation, resulting in improved job satisfaction and team collaboration. The findings provide empirical evidence that strategic AI integration can enhance both operational efficiency and guest satisfa-ction while complementing human service elements. This research contributes va-luable insights for hospitality managers considering AI implementation and offers a practical blueprint for successful technology integration in the hospitality sector, while also highlighting areas for future research in different hotel categories and geographical contexts. Ključne besede: AI integration, ChatGPT, Gemini, hospitality, operational efficiency Objavljeno v RUP: 16.12.2025; Ogledov: 662; Prenosov: 4
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9. Energy retrofitting opportunities using renewable materials-comparative analysis of the current frameworks in Bosnia-Herzegovina and SloveniaDarija Gajić, Slobodan Peulić, Tim Mavrič, Anna Malgorzata Sandak, Črtomir Tavzes, Milica Malešević, Mladen Slijepčević, 2021, izvirni znanstveni članek Ključne besede: legal framework, developing countries, existing building stock, energy efficiency, energy consumption, timber, renewable materials Objavljeno v RUP: 04.02.2021; Ogledov: 4487; Prenosov: 75
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10. Subsidies, enterprise innovativeness and sustainable growthSabina Žampa, Štefan Bojnec, 2015, objavljeni znanstveni prispevek na konferenci Ključne besede: podjetništvo, financiranje, subvenije, inovativnost, ekonomska učinkovitost, finančna učinkovitost, trajnostni razvoj, subsidies, enterprise innovativeness, economic-financial efficiency of enterprises, sustainable development Objavljeno v RUP: 03.04.2017; Ogledov: 4332; Prenosov: 78
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