Mic 2019 Management International Conference Managing Geostrategic Issues Proceedings the Joint International Conference Organised by • University of Primorska, Faculty of Management, Slovenia • Lomonosov Moscow State University, Moscow School of Economics, Russian Federation • Juraj Dobrila University of Pula, Faculty of Economics and Tourism ‘Dr. Mijo Mirkovic,’ Croatia Opatija, Croatia • 29 May–1 June 2019 MIC 2019: Managing Geostrategic Issues Proceedings of the Joint International Conference Organised by University of Primorska, Faculty of Management, Slovenia Lomonosov Moscow State University, Moscow School of Economics, Russian Federation Juraj Dobrila University of Pula, Faculty of Economics and Tourism, Croatia Opatija, Croatia | 29 May–1 June 2019 Edited by Suzana Sedmak Suzana Laporšek Matjaž Nahtigal Design and Layout Alen Ježovnik Published by University of Primorska Press Titov trg 4, 6000 Koper, Slovenia Editor in Chief Jonatan Vinkler Managing Editor Alen Ježovnik www.hippocampus.si Koper, Slovenia | December 2019 Management International Conference ISSN 2712-3766 © University of Primorska Press http://www.hippocampus.si/ISBN/978-961-6832-68-7.pdf https://doi.org/10.26493/978-961-6832-68-7 Published under the terms of the Creative Commons CC BY-NC-ND 4.0 License Kataložni zapis o publikaciji (CIP) pripravili v Narodni in univerzitetni knjižnici v Ljubljani COBISS.SI-ID=304119808 ISBN 978-961-6832-68-7 (pdf) Foreword The traditional MIC Conference was organised in Opatija, Croatia, by University of Primorska, Faculty of Management (Slovenia), Lomonosov Moscow State University, Moscow School of Economics (Russian Federation), and Juraj Dobrila University of Pula, Faculty of Economics and Tourism ‘Dr. Mijo Mirković’ (Croatia). The title of the conference was Managing Geostrategic Issues. The rise of the BRICS countries, as well as the rise of many other developing countries, creates new opportunities and challenges for the international community. New opportunities emerge for the new generation of entrepreneurs and innovators from both developed and developing parts of the world. New challenges relate to the issues of energy and climate change, international trade and finance, the future role of international in-stitutions, such as the WTO. New challenges also relate to the rise of populism in many parts of the world as well as to the continuous rise of inequality within many developed and developing countries. We would like to extend sincere appreciation to all the participants and presenters for their contributions and participation. This year we received 117 submissions and selected the best 87 papers, and the total number of participants reached 110. After the conference authors were invited to submit their full papers to the MIC 2019 Conference Proceedings. All the received papers have gone through a double-blind peer review process. We are glad that a substantial number of papers presented at the MIC 2019 conference were published in the MIC supporting journals: • Academica Turistica – Tourism and Innovation Journal • Economic and Social Changes: Facts, Trends, Forecast • Economic Research/Ekonomska istraživanja • Human Systems Management • International Journal of Computational Economics and Econometrics • International Journal of Management, Knowledge and Learning • Journal of the New Economic Association/ Zhournal Novoi Ekonomicheskoi Associacii • Management • Management and Production Review • Managing Global Transitions • Review of Innovation and Competitiveness We sincerely thank all the editors for their cooperation. We would also like to thank the editors of the supporting journals, participating at the Editors’ Panel, and to stu-dents who participated at the Doctoral Students’ Workshop. Our deepest gratitude goes to Keynote Speakers, Dr. Anna Visvizi (Deree College – The American College of Greece, Greece) and Dr. Vladimir Gligorov (The Vienna Institute for International Economic Studies, Austria). Last but not least, we extend our sincere thanks to everybody who participated in the programme boards and organization of the MIC 2019. Dr. Suzana Laporšek and Dr. Matjaž Nahtigal Conference Chairs 3 Programme Boards Conference Chairs Dr. Suzana Laporšek, University of Primorska, Slovenia Dr. Matjaž Nahtigal, University of Primorska, Slovenia Scientific Committee Dr. Lyubov Babich, Vologda Research Center of the Russian Academy of Sciences, Russian Federation Dr. Cene Bavec, University of Primorska, Slovenia Dr. Štefan Bojnec, University of Primorska, Slovenia Dr. Hani El-Chaarani, Beirut Arab University, Lebanon Dr. Ksenija Černe, Juraj Dobrila University of Pula, Croatia DDr. Imre Fert˝ o, Corvinus University of Budapest, Hungary Dr. József Fogarasi, Research Institute of Agricultural Economics, Hungary, and Partium Christian University, Romania Dr. Mikhail Golovnin, Lomonosov Moscow State University, Russian Federation Dr. Doris Gomezelj Omerzel, University of Primorska, Slovenia Dr. Małgorzata Gotowska, University of Science and Technology, Poland Dr. Rune Ellemose Gulev, Kiel University of Applied Sciences, Germany Dr. Florin Ionita, Bucharest University for Economic Studies, Romania Dr. Anna Jakubczak, University of Science and Technology, Poland Dr. Maria Jakubik, Haaga-Helia University of Applied Sciences, Finland Dr. Pekka Kess, University of Oulu, Finland Dr. Massimiliano Kaucic, University of Trieste, Italy Dr. Danijela Križman Pavlović, Juraj Dobrila University of Pula, Croatia Dr. Atanu Kumar Nath, Western Norway University of Applied Sciences, Norway Dr. Maja Meško, University of Primorska, Slovenia Dr. Victor Polterovich, Lomonosov Moscow State University, Russian Federation Dr. Mitja Ruzzier, University of Primorska, Slovenia Dr. Darina Saxunova, Comenius University in Bratislava, Slovakia Dr. Alexandra Shabunova, Vologda Research Center of the Russian Academy of Sciences, Russian Federation Dr. Cezar Scarlat, University Politehnica of Bucharest, Romania Dr. Marcello Signorelli, University of Perugia, Italy Dr. Dean Sinković, Juraj Dobrila University of Pula, Croatia Dr. Brandon Soltwisch, University of Northern Colorado, USA Dr. Marinko Škare, Juraj Dobrila University of Pula, Croatia Dr. Janez Šušteršič, Re-forma, Research and Development, Ltd., Slovenia Dr. Josu Takala, University of Vaasa, Finland Dr. Giorgio Valentinuz, University of Trieste, Italy Dr. Robert Zenzerović, Juraj Dobrila University of Pula, Croatia Organising Committee MSc. Suzana Sedmak, University of Primorska, Slovenia Staša Ferjančič, University of Primorska, Slovenia Amela Panić, University of Primorska, Slovenia Tin Pofuk, University of Primorska, Slovenia 4 Table of Contents Marketing Strategy in Metal Industry: Case Study Armand Faganel and Aleksander Janeš Full Text Governance of Legislative Requirements for the Development of Natural Language Processing Tools Inara Opmane, Juris Balodis, and Rihards Balodis Full Text Taxation Aspects of International E-Commerce Ewelina Badura Full Text Split Payment VAT Collection Mechanisms and Their Impact on the EU Market of Payment Technologies and Services Konrad Stolarski Full Text Anticipated Expansions of Life Expectancy and Their Long-Run Growth Effects Anton O. Belyakov, Alexey N. Kurbatskiy, and Klaus Prettner Full Text 20 Years in Development of Effective Tax Rates in the Czech Republic (2000–2019) Jaroslava Holečková and Vojtěch Menzl Full Text Internet as a Source of Information and Knowledge: Reality and Prospects Lyubov Babich Full Text Value Based Management Systems and Firm Performance: An Analysis of the Literature Giulio Corazza Full Text Competitiveness of Business Environment of the Western Balkan Countries Zoran Najdanović, Marijana Žiravac Mladenović, and Natalia Tutek Full Text 5 Linking Perceived Service Quality, Perceived Customer Value and Customer Loyalty in Retail Sandra Jelčić and Mirela Mabić Full Text Electronic Banking: Presence and Trends Dušan Lesjak Full Text The Power to Choose or Power to Lose? Networked Individualism and the Usage of Social Media Tadej Praprotnik Full Text Customer Value Creation in the Financial Services Industry: A Systematic Review of the Academic Literature Gábor Csepy and Márta Aranyossy Full Text Strategic Options for Managing Sustainable Business Carmen Valentina R˘ adulescu, Florina Bran, and Sorin Burlacu Full Text Tourism Industry in Rural and Urban Areas: Slovakia and United Arab Emirates Examples Darina Saxunova and Corlise Liesl Le Roux Full Text Talent Management in Bosnia and Herzegovina Mirela Kljajić-Dervić, Ema Mustajbasic, and Šemsudin Dervić Full Text 6 Document Outline MIC 2019 Foreword Programme Boards Table of Contents