Open-end investment funds in Croatia

This work discusses investment funds in Croatia, with a particular emphasis on openend investment funds. After a short review of the development of the funds, the perception of the funds is analysed, as are the trends in total assets and in average yields. The degree of concentration of open-end investment funds is shown with statistical measures of concentration (the Gini Coefficient, the Lorenz Curve and concentration ratios). All these indicators show that the concentration is moderate to strong. The greatest yields are given by the equity funds, but these are also the most risky.investment funds, open-end investment funds, bond fund, equity fund, mixed fund, money fund, Gini coefficient, Lorenz curve, Croatia

Theory review: critical success factors for internationalization of small and medium-sized enterprises

Internationalization of small and medium-sized enterprises is getting more attention from researchers who study different paths, strategies, entry modes and their behavior on international market, while also identifying their limitations, potential risks, and threats. Globalization, especially the growth of online sales channels and fast (and affordable) communication have simplified the complexity of internationalization, which has made it easier for small and medium-sized enterprises to participate in the international market. Gradual step-by-step internationalization process and long-term planning have been replaced with new, fast market entrance strategies. Lately, many companies are being founded that put their focus and operational activities on internationalization from the beginning (born global). This paper gives an overview of the main internationalization theories (traditional internationalization theory, the network theory, and international entrepreneurship theory) and discusses their importance. Additionally, it examines the motives for the internationalization, main barriers, main risks, and explores the critical success factors that are important in the process of internationalization. Information provided can be useful to the companies that consider expanding their business operations abroad

Digital due diligence: a complementary perspective to the traditional approach

Mergers and acquisitions (M&A) represent one of the most common ways for firms to achieve non-organic growth, and one of the main stages in the typical M&A transaction is due diligence of the target company. The aim of this paper is to provide a guideline for conducting due diligence process in the digital environment. After a brief introduction on the nature, purpose and elements of the due diligence, the paper elaborates various risks, and psychological and contextual hazards often occurred during due diligence process. Special attention has been paid to the elaboration of the role and importance of the digital due diligence as a new concept in today’s contemporary ‘digital’ economy. The outcome of this paper is to provide a comparison between ‘traditional’ and ‘digital’ due diligence, digital due diligence methodology, and easy understandable check list for conducting the process of digital due diligence

Analysis of tobacco industry attractiveness: Case of Croatia

Tobacco industry is one of the most profitable global industries with the steady increase in global demand for tobacco and tobacco related products. Tobacco industry in Croatia has a centuries-old tradition and tobacco is one of the most important non-food agricultural crops produced in Croatia. Moreover, tobacco industry in Croatia is one of the major revenue sources of the government’s budget. The aim of this paper is to determine whether tobacco industry in Croatia is attractive enough for a new player willing to enter the market. Paper provides brief overview of the tobacco industry and the impact it has on Croatian economy. Furthermore, paper explains how excise duties and product prices changed over time, shows market consolidation and concentration before and after the EU accession, and in detail depicts forces which determine industry’s profitability, i.e. its attractiveness

Analysis of antecedents and consequences of workplace-related burnout among Croatian employees in the post-COVID-19 era

Employee burnout is considered a serious problem in today’s organizations, having severe repercussions both on individual and operational levels. A large number of studies have been conducted to identify antecedents and consequences of burnout but were mostly carried out in medical and other helping professions. This research aims to explore the burnout of employees working in Croatian companies by developing a multidimensional model that explores the influence of three elements that are considered typical features of today’s modern, post-pandemic workplace: information overload, demands at work, and multitasking. In addition, it observes the influence of burnout on employee decision-making style and the moderating effects of information accuracy and time pressure on the burnout-decision-making relationship. A total of 567 employees working in various industries and carrying out different professions completed an online survey, and linear regression analysis was applied to analyze the data. The results confirmed the direct positive effect of information overload and demands at work on burnout and the direct positive effect of burnout on poor decision-making style. This study is one of the first studies conducted in Croatia on employees in the business sector, so it contributes to the field with important theoretical implications and practical and managerial recommendations

Financial Health and Self-Sustainability of a Small European Football League: The Realities of Top-Flight Croatian Football

This study aims to evaluate the financial health of Croatian top division clubs, locate their primary source of funding, and assess their capacity for self-sustainability. To conclude the current financial condition and long-term (un)sustainability of Croatian club football, selected financial categories and ratios for HNL clubs from 2018 to 2021 were compared with UEFA benchmarks. The horizontal financial analysis results were presented in aggregate league- and individual club-level form and compared to other leagues, averages, and UEFA recommendations. The research revealed significant operating losses covered by net transfer income, unacceptable high wage-to-revenue ratios, and inferior operating margins. Financial stability should not be upheld only as a means to an end for UEFA licensing but for the long-term viability of every football club and the community in which it is embedded. A focus on long-term internal, organic development (i.e., investing in academies, infrastructure, technology, and human capital, as well as actively supporting young players in the first eleven) can yield an edge against more prosperous competition. Without it, top Croatian clubs will eventually realize that the stream of talented players will thin out and, with it, the golden vein that keeps them financially alive

Employee Readiness for Organizational Change in the SME Internalization Process: The Case of a Medium-Sized Construction Company

A growing body of research, especially in the domain of psychology and business, is aimed at identifying the link between work-related factors and employee readiness to accept change. Moreover, change management is a topic that rapidly attracts the attention of the academic and business communities as well. Therefore, this study is conducted in order to identify the antecedents of the effective implementation of change(s) within a context of a medium-sized construction company that went through numerous changes during its lifetime. A total of 12 different hypotheses and sub-hypotheses was tested to better understand what factors affect employee readiness for change. A multiple regression analysis was used on a sample of 54 employees indicating that organizational commitment, career commitment, and job satisfaction positively affect employee readiness for organizational change. The research contributes to the fields of human resources, organizational psychology, management of small and medium-sized enterprises, and change management

Financial Health and Self-Sustainability of a Small European Football League: The Realities of Top-Flight Croatian Football

This study aims to evaluate the financial health of Croatian top division clubs, locate their primary source of funding, and assess their capacity for self-sustainability. To conclude the current financial condition and long-term (un)sustainability of Croatian club football, selected financial categories and ratios for HNL clubs from 2018 to 2021 were compared with UEFA benchmarks. The horizontal financial analysis results were presented in aggregate league- and individual club-level form and compared to other leagues, averages, and UEFA recommendations. The research revealed significant operating losses covered by net transfer income, unacceptable high wage-to-revenue ratios, and inferior operating margins. Financial stability should not be upheld only as a means to an end for UEFA licensing but for the long-term viability of every football club and the community in which it is embedded. A focus on long-term internal, organic development (i.e., investing in academies, infrastructure, technology, and human capital, as well as actively supporting young players in the first eleven) can yield an edge against more prosperous competition. Without it, top Croatian clubs will eventually realize that the stream of talented players will thin out and, with it, the golden vein that keeps them financially alive