Profiling nascent entrepreneurs in Croatia - neural network approach

A significant body of research has been conducted to identify the most important characteristics of nascent entrepreneurs. The aim of this paper is to create a model for recognizing nascent entrepreneurs in Croatia, using the Global Entrepreneurship Monitor (GEM) data for 2014. In this research, the artificial neural networks were used as a machine learning method which enabled the recognition of nascent entrepreneurs, as well as the selection of most important variables and profiling. The suggested model includes variables that describe examinees’ attitudes, skills and demographic characteristics, while the binary output variable identifies a nascent entrepreneur. In addition to testing the accuracy of the suggested model, the contribution of this paper lies in the profiling of nascent entrepreneurs in Croatia. This model could be a valuable tool for the government and entrepreneurship support institutions in creating policies and programmes based on recognizing the most important features of nascent entrepreneurs in order to improve entrepreneurial ecosystems

Pathophysiological Mechanisms of Takotsubo Cardiomyopathy - a Systematic Review

Takotsubo cardiomyopathy, also referred to as stress-induced cardiomyopathy, is an acute condition associated with transient left ventricular dysfunction. Since it can be induced by increased emotional stress (such as losing a loved oneor constant anxiety) it is also called the broken heart syndrome. This type of cardiomyopathy occurs in all age groups and both sexes, but it is most common in postmenopausal women. There are several clinical manifestations such as chest pain, sometimes with heart failure, and often with ST-segment changes that may present as acute coronary syndrome. It is characterized by absence of coronary artery obstruction, with transient regional wall motion abnormalities and minimal elevation of cardiac enzyme levels. Although wall motion abnormalities are reversible in almost all cases, and long-term prognosis is excellent, this condition is important because in the acute phase it may cause sudden cardiac death. Mechanisms and cause of this disease still remain unclear. Some possible causes of the disorder include: 1) coronary artery vasospasm, 2) microcirculatory dysfunction, 3) transient obstruction of the left ventricular outflow tract, and 4) excessive release of catecholamine, which seems to have the most important role. The aim of this review is to summarize the most important pathophysiological mechanisms that may be responsible for the development of this type of cardiomyopathy

DE-PASS Best Evidence Statement (BESt): modifiable determinants of physical activity and sedentary behaviour in children and adolescents aged 5–19 years–a protocol for systematic review and meta-analysis

Introduction Physical activity among children and adolescents remains insufficient, despite the substantial efforts made by researchers and policymakers. Identifying and furthering our understanding of potential modifiable determinants of physical activity behaviour (PAB) and sedentary behaviour (SB) is crucial for the development of interventions that promote a shift from SB to PAB. The current protocol details the process through which a series of systematic literature reviews and meta-analyses (MAs) will be conducted to produce a best-evidence statement (BESt) and inform policymakers. The overall aim is to identify modifiable determinants that are associated with changes in PAB and SB in children and adolescents (aged 5–19 years) and to quantify their effect on, or association with, PAB/SB. Methods and analysis A search will be performed in MEDLINE, SportDiscus, Web of Science, PsychINFO and Cochrane Central Register of Controlled Trials. Randomised controlled trials (RCTs) and controlled trials (CTs) that investigate the effect of interventions on PAB/SB and longitudinal studies that investigate the associations between modifiable determinants and PAB/SB at multiple time points will be sought. Risk of bias assessments will be performed using adapted versions of Cochrane’s RoB V.2.0 and ROBINS-I tools for RCTs and CTs, respectively, and an adapted version of the National Institute of Health’s tool for longitudinal studies. Data will be synthesised narratively and, where possible, MAs will be performed using frequentist and Bayesian statistics. Modifiable determinants will be discussed considering the settings in which they were investigated and the PAB/SB measurement methods used. Ethics and dissemination No ethical approval is needed as no primary data will be collected. The findings will be disseminated in peer-reviewed publications and academic conferences where possible. The BESt will also be shared with policy makers within the DE-PASS consortium in the first instance

DE-PASS Best Evidence Statement (BESt):modifiable determinants of physical activity and sedentary behaviour in children and adolescents aged 5–19 years–a protocol for systematic review and meta-analysis

Introduction: Physical activity among children and adolescents remains insufficient, despite the substantial efforts made by researchers and policymakers. Identifying and furthering our understanding of potential modifiable determinants of physical activity behaviour (PAB) and sedentary behaviour (SB) is crucial for the development of interventions that promote a shift from SB to PAB. The current protocol details the process through which a series of systematic literature reviews (SLRs) and meta-analyses (MAs) will be conducted to produce a best-evidence statement (BESt) and inform policy makers. The overall aim is to identify modifiable determinants that are associated with changes in PAB and SB in children and adolescents (aged 5-19 years) and to quantify their effect on, or association with, PAB/SB. Methods and analysis: A search will be performed in MEDLINE, SportDiscus, Web of Science, PsychINFO and Cochrane Central Register of Controlled Trials. Randomized controlled trials (RCTs) and controlled trials (CTs) that investigate the effect of interventions on PAB/SB and longitudinal studies that investigate the associations between modifiable determinants and PAB/SB at multiple time points will be sought. Risk of bias assessments will be performed using adapted versions of Cochrane’s RoB 2.0 and ROBINS-I tools for RCTs and CTs, respectively, and an adapted version of the National Institute of Health’s tool for longitudinal studies. Data will be synthesised narratively and, where possible, MAs will be performed using frequentist and Bayesian statistics. Modifiable determinants will be discussed considering the settings in which they were investigated and the PAB/SB measurement methods used. Ethics and dissemination: No ethical approval is needed as no primary data will be collected. The findings will be disseminated in peer-reviewed publications and academic conferences where possible. The BESt will also be shared with policy makers within the DE-PASS consortium in the first instance. Systematic review registration: CRD4202128287

DE-PASS Best Evidence Statement (BESt): modifiable determinants of physical activity and sedentary behaviour in children and adolescents aged 5-19 years-a protocol for systematic review and meta-analysis

Introduction Physical activity among children and adolescents remains insufficient, despite the substantial efforts made by researchers and policymakers. Identifying and furthering our understanding of potential modifiable determinants of physical activity behaviour (PAB) and sedentary behaviour (SB) is crucial for the development of interventions that promote a shift from SB to PAB. The current protocol details the process through which a series of systematic literature reviews and meta-analyses (MAs) will be conducted to produce a best-evidence statement (BESt) and inform policymakers. The overall aim is to identify modifiable determinants that are associated with changes in PAB and SB in children and adolescents (aged 5-19 years) and to quantify their effect on, or association with, PAB/SB. Methods and analysis A search will be performed in MEDLINE, SportDiscus, Web of Science, PsychINFO and Cochrane Central Register of Controlled Trials. Randomised controlled trials (RCTs) and controlled trials (CTs) that investigate the effect of interventions on PAB/SB and longitudinal studies that investigate the associations between modifiable determinants and PAB/SB at multiple time points will be sought. Risk of bias assessments will be performed using adapted versions of Cochrane's RoB V.2.0 and ROBINS-I tools for RCTs and CTs, respectively, and an adapted version of the National Institute of Health's tool for longitudinal studies. Data will be synthesised narratively and, where possible, MAs will be performed using frequentist and Bayesian statistics. Modifiable determinants will be discussed considering the settings in which they were investigated and the PAB/SB measurement methods used. Ethics and dissemination No ethical approval is needed as no primary data will be collected. The findings will be disseminated in peer-reviewed publications and academic conferences where possible. The BESt will also be shared with policy makers within the DE-PASS consortium in the first instance. Systematic review registration CRD42021282874

Challenges of business transfer in small and medium enterprises

Odluka o izlasku iz poduzetničkog pothvata predstavlja sastavni dio poduzetničkog procesa. Izlazak iz poduzetničkog pothvata jedne osobe ostavlja mogućnost drugima za ulazak u poduzetnički pothvat kroz kupovinu (entrepreneurial takeover) ili kroz nasljeđivanje poduzeća (family business succession). Odluka o izlasku iz poduzetničkog pothvata ima utjecaj na velik broj dionika. Prvenstveno utječe na vlasnika poduzeća, zaposlene u poduzeću, te gospodarstvo u cjelini. Prema provedenim istraživanjima unutar Europske Unije kroz proces prijenosa poslovanja svake godine prolazi oko 450.000 poduzeća s oko 2 milijuna zaposlenih. Procjenjuje se kako oko 150.000 poduzeća ne pristupa na adekvatan način prijenosu poslovanja čime se u pitanje dovodi oko 600.000 radnih mjesta. Izlazak iz poduzetničkog pothvata i prijenos poslovanja emocionalan je i stresan događaj tijekom kojeg su vlasnici suočeni s brojnim izazovima. Cilj ovog rada je ukazati na važnost prijenosa poslovanja i izazove s kojima se vlasnici malih i srednjih poduzeća susreću tijekom tog procesa. Na osnovi identificiranih izazova, u radu su dane preporuke za unaprjeđenje nacionalnog business transfer ekosustava u Hrvatskoj.Entrepreneurial exit is an important part of entrepreneurial process. Exit from the entrepreneurial venture of one person leaves the possibility for other to enter the venture trough entrepreneurial takeover or family business succession. Entrepreneur’s decision to exit the venture has an impact on number of stakeholders. It is estimated that each year in the European Union around 450,000 firms with around 2 million employees go through the business transfer process. The issue of business transfer is not adequately approached in approximately 150,000 firms, which jeopardizes around 600,000 jobs (European Commission, 2011). Exiting and transferring the business is emotional and stressful event in entrepreneur’s life during which entrepreneurs face number of challenges. Objective of this paper is to point out the importance of business transfer and challenges faced by business owners during this process. Based on the identified challenges policy recommendations for further improvement of the national business transfer support system in Croatia are provided

ACQUISITIVE GROWTH OF SMALL AND MEDIUM ENTERPRISES : DOCTORAL THESIS

Rast malih i srednjih poduzeća uglavnom je promatran kroz prizmu organskog rasta, unatoč činjenici kako mala i srednja poduzeća mogu ostvariti rast na različite načine, a jedan od mogućih načina je korištenjem akvizicija. Većina provedenih istraživanja i razvijenih teorija povezana je s praćenjem akvizicija velikih poduzeća, dok akvizicije koje provode mala i srednja poduzeća predstavljaju zanemareno područje istraživanja. Ova doktorska disertacija nastoji kroz kvalitativno empirijsko istraživanje pridonijeti dubljem razumijevanju akvizicijskih procesa kroz koje prolaze mala i srednja poduzeća, te dati odgovor na pitanje zašto se vlasnici malih i srednjih poduzeća odlučuju za akviziciju kao metodu rasta. U teorijskom dijelu disertacije dan je pregled prethodnih istraživanja o rastu malih i srednjih poduzeća, te pregled istraživanja o akvizicijama, posebno malih i srednjih poduzeća. Također, u teorijskom dijelu disertacije prikazano je i analizirano vanjsko okruženje kao i specifičnosti okruženja Republike Hrvatske. Empirijski dio disertacije korištenjem kvalitativne istraživačke metodologije, prvenstveno studije slučaja daje prikaz i usporedbu osam slučajeva akvizicija koje su u Hrvatskoj proveli vlasnici malih i srednjih poduzeća. Analiza slučajeva omogućila je identifikaciju moriva poduzetnika za provođenje akvizicije, ostvarenih efekata, te specifičnih izazova s kojima su se susretali. Rezultati empirijskog istraživanja ukazuju kako je kod poduzetnika u odabranom uzorku izrazito naglašena potreba za povjerenjem i prethodnim poznavanjem prodavatelja upravo zbog nerazvijenosti ekosustava, te kako su poduzetnici uglavnom preuzimali poduzeća unutar industrije. Jednako tako istraživanje je otkrilo kako su poduzetnici pokazali visoku razinu samouvjerenosti, samostalno ulazili u proces, bili kreativni u načinu financiranja i provođenja akvizicija, te kroz proces učili. U konačnici istraživanje je ukazalo i kako su poduzetnici u promatranim slučajevima uspjeli ostvariti veće sinergijske efekte u odnosu na očekivane, što je pozitivno utjecalo na reputaciju poduzeća, daljnji organski rast, te otvorenost prema novim akvizicijama.Entrepreneurial growth has traditionally been observed through the lens of organic growth even though SMEs can achieve growth in different ways (e.g. by using acquisition). Acquisitions as a phenomenon have predominantly been studied on samples of large companies, therefore published research and theories have been developed almost exclusively from the studies of large acquisition deals. This doctoral thesis uses a qualitative research design based on in-depth case studies to explore the acquisition process of SMEs in the specific context of the undeveloped market such as the Croatian. Also, this thesis seeks to contribute to a deeper understanding of the acquisition processes that SMEs go through, and entrepreneurs’ motivation to undertake the acquisition. The theoretical part of the thesis gives an overview of previous research on SME growth, as well as an overview of research on the acquisitive growth of SMEs. Further, this part also explores the external environment and analyses specifics of the Croatian entrepreneurial ecosystem in the context of acquisitive growth. The empirical part of the thesis provides a comparison of eight in-depth case studies of acquisitions conducted by entrepreneurs in Croatia. A comparative analysis of the cases was made to identify entrepreneurs' motives for acquisition, challenges they faced during the process and the effects. The results of the empirical research point out due to the undeveloped ecosystem the importance of trust and the prior relationship between buyer and seller. Also due to undeveloped ecosystem, entrepreneurs mostly acquire companies within the industry. Further, entrepreneurs have shown a high level of self-confidence and have entered the process on their own without the advisors support. Entrepreneurs have been creative in the financing of acquisitions. They learned through the process and gained new important experience and acquisition knowledge. Finally, the research also indicated that entrepreneurs were able to achieve greater synergies than expected, which had a positive effect on the company's reputation as well as further organic growth

Challenges of business transfer in small and medium enterprises

Odluka o izlasku iz poduzetničkog pothvata predstavlja sastavni dio poduzetničkog procesa. Izlazak iz poduzetničkog pothvata jedne osobe ostavlja mogućnost drugima za ulazak u poduzetnički pothvat kroz kupovinu (entrepreneurial takeover) ili kroz nasljeđivanje poduzeća (family business succession). Odluka o izlasku iz poduzetničkog pothvata ima utjecaj na velik broj dionika. Prvenstveno utječe na vlasnika poduzeća, zaposlene u poduzeću, te gospodarstvo u cjelini. Prema provedenim istraživanjima unutar Europske Unije kroz proces prijenosa poslovanja svake godine prolazi oko 450.000 poduzeća s oko 2 milijuna zaposlenih. Procjenjuje se kako oko 150.000 poduzeća ne pristupa na adekvatan način prijenosu poslovanja čime se u pitanje dovodi oko 600.000 radnih mjesta. Izlazak iz poduzetničkog pothvata i prijenos poslovanja emocionalan je i stresan događaj tijekom kojeg su vlasnici suočeni s brojnim izazovima. Cilj ovog rada je ukazati na važnost prijenosa poslovanja i izazove s kojima se vlasnici malih i srednjih poduzeća susreću tijekom tog procesa. Na osnovi identificiranih izazova, u radu su dane preporuke za unaprjeđenje nacionalnog business transfer ekosustava u Hrvatskoj.Entrepreneurial exit is an important part of entrepreneurial process. Exit from the entrepreneurial venture of one person leaves the possibility for other to enter the venture trough entrepreneurial takeover or family business succession. Entrepreneur’s decision to exit the venture has an impact on number of stakeholders. It is estimated that each year in the European Union around 450,000 firms with around 2 million employees go through the business transfer process. The issue of business transfer is not adequately approached in approximately 150,000 firms, which jeopardizes around 600,000 jobs (European Commission, 2011). Exiting and transferring the business is emotional and stressful event in entrepreneur’s life during which entrepreneurs face number of challenges. Objective of this paper is to point out the importance of business transfer and challenges faced by business owners during this process. Based on the identified challenges policy recommendations for further improvement of the national business transfer support system in Croatia are provided