{"id":"https://openalex.org/W2575267586","doi":"https://doi.org/10.5937/ekopre1606371k","title":"Determining the discount rate: The case of oil industry in Serbia","display_name":"Determining the discount rate: The case of oil industry in Serbia","publication_year":2016,"publication_date":"2016-01-01","ids":{"openalex":"https://openalex.org/W2575267586","doi":"https://doi.org/10.5937/ekopre1606371k","mag":"2575267586"},"language":"en","primary_location":{"id":"doi:10.5937/ekopre1606371k","doi":"https://doi.org/10.5937/ekopre1606371k","is_oa":true,"landing_page_url":"https://doi.org/10.5937/ekopre1606371k","pdf_url":"https://scindeks-clanci.ceon.rs/data/pdf/0353-443X/2016/0353-443X1606371K.pdf","source":{"id":"https://openalex.org/S4210235806","display_name":"Ekonomika preduzeca","issn_l":"0353-443X","issn":["0353-443X","2406-1239"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["ddh","doaj","erih-plus"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Ekonomika preduzeca","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://scindeks-clanci.ceon.rs/data/pdf/0353-443X/2016/0353-443X1606371K.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5050120155","display_name":"Jelena Ko\u010dovi\u0107","orcid":"https://orcid.org/0000-0003-3219-4746","observed_orcids":["https://orcid.org/0000-0003-3219-4746"]},"institutions":[{"id":"https://openalex.org/I4068193","display_name":"University of Belgrade","ror":"https://ror.org/02qsmb048","country_code":"RS","type":"education","lineage":["https://openalex.org/I4068193"]}],"countries":["RS"],"is_corresponding":false,"raw_author_name":"Jelena Kocovic","raw_affiliation_strings":["Mihailo Paunovi\u0107 institut Belko d.o.o., Belgrade","university of Belgrade faculty of economics department of Statistics and Mathematics","ukupni tro\u0161ak kapitala, WACC, je 12,505%"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Mihailo Paunovi\u0107 institut Belko d.o.o., Belgrade","institution_ids":[]},{"raw_affiliation_string":"university of Belgrade faculty of economics department of Statistics and Mathematics","institution_ids":["https://openalex.org/I4068193"]},{"raw_affiliation_string":"ukupni tro\u0161ak kapitala, WACC, je 12,505%","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5053293279","display_name":"Mihailo Paunovi\u0107","orcid":"https://orcid.org/0000-0002-3183-9971","observed_orcids":["https://orcid.org/0000-0002-3183-9971"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Mihailo Paunovic","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5006226161","display_name":"Marija Koprivica","orcid":"https://orcid.org/0000-0003-4239-2252","observed_orcids":["https://orcid.org/0000-0003-4239-2252"]},"institutions":[{"id":"https://openalex.org/I4068193","display_name":"University of Belgrade","ror":"https://ror.org/02qsmb048","country_code":"RS","type":"education","lineage":["https://openalex.org/I4068193"]}],"countries":["RS"],"is_corresponding":false,"raw_author_name":"Marija Jovovic","raw_affiliation_strings":["university of Belgrade faculty of economics department of Statistics and Mathematics","ukupni tro\u0161ak kapitala, WACC, je 12,505%","Mihailo Paunovi\u0107 institut Belko d.o.o., Belgrade"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"university of Belgrade faculty of economics department of Statistics and Mathematics","institution_ids":["https://openalex.org/I4068193"]},{"raw_affiliation_string":"ukupni tro\u0161ak kapitala, WACC, je 12,505%","institution_ids":[]},{"raw_affiliation_string":"Mihailo Paunovi\u0107 institut Belko d.o.o., Belgrade","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":true,"cited_by_count":8,"citation_normalized_percentile":{"value":0.29394506,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":87,"max":97},"biblio":{"volume":"64","issue":"5-6","first_page":"371","last_page":"381"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.9970999956130981,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.9970999956130981,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.0024999999441206455,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/discount-rate","display_name":"discount rate","score":0.9760000109672546},{"id":"https://openalex.org/keywords/cost-of-capital","display_name":"cost of capital","score":0.9369999766349792},{"id":"https://openalex.org/keywords/weighted-average-cost-of-capital","display_name":"weighted average cost of capital","score":0.9879999756813049},{"id":"https://openalex.org/keywords/cost-of-equity","display_name":"cost of equity","score":0.8090000152587891},{"id":"https://openalex.org/keywords/cost-of-debt","display_name":"cost of debt","score":0.9380000233650208},{"id":"https://openalex.org/keywords/capital-asset-pricing-model","display_name":"capital asset pricing model","score":0.8309999704360962},{"id":"https://openalex.org/keywords/risk-premium","display_name":"risk premium","score":0.7129999995231628},{"id":"https://openalex.org/keywords/macroeconomic-stability","display_name":"macroeconomic stability","score":0.8619999885559082},{"id":"https://openalex.org/keywords/serbia","display_name":"Serbia","score":0.5049999952316284}],"concepts":[{"id":"https://openalex.org/C25188504","wikidata":"https://www.wikidata.org/wiki/Q178749","display_name":"Weighted average cost of capital","level":5,"score":0.8993409872055054},{"id":"https://openalex.org/C74734477","wikidata":"https://www.wikidata.org/wiki/Q1479274","display_name":"Cost of capital","level":3,"score":0.8292776942253113},{"id":"https://openalex.org/C2781032883","wikidata":"https://www.wikidata.org/wiki/Q3695774","display_name":"Cost of equity","level":4,"score":0.8120021820068359},{"id":"https://openalex.org/C40113805","wikidata":"https://www.wikidata.org/wiki/Q245930","display_name":"Return on capital","level":5,"score":0.6199938058853149},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6034451723098755},{"id":"https://openalex.org/C143801662","wikidata":"https://www.wikidata.org/wiki/Q5384683","display_name":"Equity capital markets","level":3,"score":0.5088944435119629},{"id":"https://openalex.org/C16969640","wikidata":"https://www.wikidata.org/wiki/Q1070805","display_name":"Capital adequacy ratio","level":3,"score":0.41202986240386963},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.40322810411453247},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.38999930024147034},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3441894054412842},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3210607171058655},{"id":"https://openalex.org/C58202505","wikidata":"https://www.wikidata.org/wiki/Q5035700","display_name":"Capital formation","level":4,"score":0.240504652261734},{"id":"https://openalex.org/C44750222","wikidata":"https://www.wikidata.org/wiki/Q1897397","display_name":"Financial capital","level":3,"score":0.2252451479434967},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.18364235758781433},{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.17564037442207336},{"id":"https://openalex.org/C181622380","wikidata":"https://www.wikidata.org/wiki/Q26911","display_name":"Profit (economics)","level":2,"score":0.0986286997795105}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.5937/ekopre1606371k","doi":"https://doi.org/10.5937/ekopre1606371k","is_oa":true,"landing_page_url":"https://doi.org/10.5937/ekopre1606371k","pdf_url":"https://scindeks-clanci.ceon.rs/data/pdf/0353-443X/2016/0353-443X1606371K.pdf","source":{"id":"https://openalex.org/S4210235806","display_name":"Ekonomika preduzeca","issn_l":"0353-443X","issn":["0353-443X","2406-1239"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["ddh","doaj","erih-plus"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Ekonomika preduzeca","raw_type":"journal-article"},{"id":"pmh:oai:scindeks:0353-443X1606371K","doi":null,"is_oa":true,"landing_page_url":"http://scindeks.ceon.rs/article.aspx?artid=0353-443X1606371K","pdf_url":null,"source":{"id":"https://openalex.org/S4377196112","display_name":"SCIndeks","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Ekonomika preduze\u0107a (2016) 64(5-6):371-381","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:ebooks.ien.bg.ac.rs:1644","doi":null,"is_oa":false,"landing_page_url":"http://ebooks.ien.bg.ac.rs/1644/1/kocovic%2C%20paunovic%2C%20jovovic.pdf","pdf_url":"http://ebooks.ien.bg.ac.rs/1644/1/kocovic%2C%20paunovic%2C%20jovovic.pdf","source":{"id":"https://openalex.org/S4306402229","display_name":"IRIES institutional repository of scientific publications of Institute of Economic Sciences (Institute of Economic Sciences, Belgrade)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4210101313","host_organization_name":"University Hospital Center Dr Dragi\u0161a Mi\u0161ovi\u0107","host_organization_lineage":["https://openalex.org/I4210101313"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":"","raw_type":"Article"}],"best_oa_location":{"id":"doi:10.5937/ekopre1606371k","doi":"https://doi.org/10.5937/ekopre1606371k","is_oa":true,"landing_page_url":"https://doi.org/10.5937/ekopre1606371k","pdf_url":"https://scindeks-clanci.ceon.rs/data/pdf/0353-443X/2016/0353-443X1606371K.pdf","source":{"id":"https://openalex.org/S4210235806","display_name":"Ekonomika preduzeca","issn_l":"0353-443X","issn":["0353-443X","2406-1239"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["ddh","doaj","erih-plus"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Ekonomika preduzeca","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G5385547516","display_name":null,"funder_award_id":"179005","funder_id":"https://openalex.org/F4320322729","funder_display_name":"Ministarstvo Prosvete, Nauke i Tehnolo\u0161kog Razvoja"}],"funders":[{"id":"https://openalex.org/F4320322349","display_name":"Ministry of Education, Science and Technology","ror":"https://ror.org/01p262204"},{"id":"https://openalex.org/F4320322729","display_name":"Ministarstvo Prosvete, Nauke i Tehnolo\u0161kog Razvoja","ror":"https://ror.org/01znas443"}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2575267586.pdf","grobid_xml":"https://content.openalex.org/works/W2575267586.grobid-xml"},"referenced_works_count":20,"referenced_works":["https://openalex.org/W642427528","https://openalex.org/W1490022447","https://openalex.org/W1569607891","https://openalex.org/W1604237317","https://openalex.org/W2006808353","https://openalex.org/W2010681793","https://openalex.org/W2038621549","https://openalex.org/W2091218307","https://openalex.org/W2101720440","https://openalex.org/W2166215547","https://openalex.org/W2169091249","https://openalex.org/W2547965387","https://openalex.org/W2796088329","https://openalex.org/W2972089791","https://openalex.org/W3122391633","https://openalex.org/W3133819517","https://openalex.org/W3195491664","https://openalex.org/W4252188029","https://openalex.org/W4300978086","https://openalex.org/W4384916301"],"related_works":["https://openalex.org/W3097980519","https://openalex.org/W4376137584","https://openalex.org/W1512549620","https://openalex.org/W7124178489","https://openalex.org/W2212396914","https://openalex.org/W6987451355","https://openalex.org/W2518504841","https://openalex.org/W2761756629","https://openalex.org/W2058527878","https://openalex.org/W2527161125"],"abstract_inverted_index":{"The":[0,32,53,80,111,128],"paper":[1],"presents":[2],"theoretical":[3],"and":[4,24,44,74,102,135],"methodological":[5],"aspects":[6],"of":[7,15,26,35,42,55,83,97,106,114,117,124,138,145,149],"determining":[8],"the":[9,13,18,27,39,61,71,88,95,103,115,121,146,152],"discount":[10,51],"rate":[11],"on":[12],"example":[14],"NIS,":[16],"as":[17,50],"largest":[19,28],"energy":[20],"company":[21,89],"in":[22,29,78,126,151],"Serbia":[23],"one":[25],"Southeast":[30],"Europe.":[31],"total":[33,104,147],"cost":[34,54,82,96,105,116,148],"capital":[36,57,86,99,119,150],"which":[37],"represents":[38],"weighted":[40],"average":[41,81],"equity":[43,56,98,118],"long-term":[45,84],"debt":[46,85],"costs":[47],"is":[48,58,68,91,100,109,120],"used":[49,76],"rate.":[52],"calculated":[59],"using":[60],"CAPM":[62],"which,":[63],"despite":[64],"all":[65],"its":[66],"limitations,":[67],"still":[69],"theoretically":[70],"most":[72],"correct":[73],"frequently":[75],"model":[77],"practice.":[79],"to":[87,93,143],"NIS":[90],"equal":[92],"14.773%,":[94],"12.453%":[101],"capital,":[107],"WACC,":[108],"12.505%.":[110],"main":[112],"component":[113],"risk":[122],"premium":[123],"investing":[125],"Serbia.":[127],"results":[129],"show":[130],"that":[131],"macroeconomic":[132],"stability":[133],"strengthening":[134],"adequate":[136],"management":[137],"borrowed":[139],"funds":[140],"can":[141],"contribute":[142],"reduction":[144],"Serbian":[153],"oil":[154],"industry.":[155]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":3},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":1}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2017-01-26T00:00:00"}
