Jelena Zvezdanović Lobanova

Year of obtaining the highest degree

The year of receiving the highest degree of professional qualification Ph.D. 2017.

Fields of research

International capital flows; foreign direct investment; cross-border mergers and acquistion; institutional environment in transition countries

Current research projects

Green transition; climate change; sustainable development; foreign direct investment; quality of the instituional setting


The year of receiving the highest degree of professional qualification Ph.D. 2017.

In 2008 she graduated from the Faculty of Economics of University of Niš with average grade 9,94. Jelena was declared as the best student of the first, second, third and fourth year of study. After finishing her studies she has got diploma with honours as the best graduate economist at the University of Niš in 2007/2008. She holds a University Silver decoration as a best graduate in socio-humanistic sciences. She entered master’s degree program at the Faculty of Economics of Belgrade University in 2009 and passed all examinations in 2009/2010 with average grade 9,67. In December 2010 she defended master thesis “The Global Financial Crisis and Lessons for Serbia”.

In 2017 she defended PhD thesis entitled „Institutional Setting as a Determinant of Economic Effects of Cross-border Mergers and Acquisitions in European Transition Countries” at the Faculty of Economics and Business of University of Maribor. Her average grade during doctoral studies made up 9,75. During her education, she has received numerous international and domestic scholarships and scientific awards. She speaks English and Russian fluently. She is the author of more than 50 publications in domestic and international scientific periodicals and monographs.

Scholarships, fellowships, grants

– Scholarship of Foundation for Young Talents – Dositeja

Scholarship of Ministry of Education of Republic of Serbia

– Scholarship of Ministry of Science and Technological Development of Republic of Serbia

– Scholarship of City of Niš for talented students

– Scholarship of the City Municipality of Medijana,

– Scholarship of Managers’ Association of Slovenia

– Philip Morris Scholarship – The Partnership for Education and Community Development

– The Eurobank EFG Scholarship – program “We are investing in European values”

Major publications

Лобанов, M., Звездановић Лобанова, J., & Звездановић, M. (2022). Типологизация промышленных систем стран Центрально-Восточной и Юго-Восточной Европы. Журнал Новой экономической ассоциации, 4(56), 92–122.

Zvezdanović Lobanova, J. Lobanov, M. & Zvezdanović, M. (2021). Governance and civil and political rights as FDI determinants in transition countries. Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu, 39(1), 59–86.

Zvezdanović Lobanova, J., Kračun, D., & Kavkler, A. (2018). Effects of cross-border mergers and acquisitions on GDP per capita and domestic investment in transition countries. Journal of Business Economics and Management, 19(1), 124–137.

Zvezdanović Lobanova, J., Kračun, D. & Kavkler, A. (2018). Institutions as a Mediator of the Effect of Crossborder Mergers & Acquisitions on Domestic Investment. Prague Economic Papers, 27(4), 479–493.

Zvezdanović Lobanova, J., Kračun, D Kavkler, A. & Lobanov, M. (2016). The Institutional Quality as a Determinant of Growth Effects of Cross-border Mergers and Acquistions in the European Transition Countries. Ekonomický časopis / Journal of Economics, 64(8), 780–794,

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