FORMIRANJE OPTIMALNOG PORTFELJA OBVEZNICA NA HRVATSKOM I POLJSKOM TRŽIŠTU KAPITALA POMOĆU MARKOWITZEVOG MODELA : Diplomski rad

Cilj ovog istraživanja je formiranje i usporedba efikasnih portfelja s hrvatskog i poljskog tržišta kapitala. Portfelji su formirani od obveznica kojima se trgovalo na oba tržišta. Prilikom izrade, u praktičnom dijelu rada, izvršena je analiza obveznica korištenjem Markowitzeve moderne teorije portfelja kako bi se donio zaključak o prihvaćanju ili odbacivanju postavljenih hipoteza. Nakon analize za svako tržište kapitala donosi se zaključak kako se na hrvatskom tržištu kapitala mogu ostvariti veći prinosi ali uz veći rizik, za razliku od poljskog tržišta kapitala, gdje investitori ostvaruju manji prinos uz manji rizik. Cilj je bio dokazati da će formirani efikasni portfelj na poljskom tržištu kapitala imati bolji odnos prinosa i rizika od obvezničkog portfelja s hrvatskog tržišta kapitala. Međutim, istraživanjem se ustvrdilo da obveznički portfelj formiran na hrvatskom tržištu kapitala ima bolji odnos prinosa i rizika kada se rezultati uspoređuju pri manjim razinama rizika, nego portfelj formiran na poljskom tržištu kapitala. Stoga se hipoteza koja je postavljena na način da poljsko tržište kapitala ima bolje performanse s obzirom na prinos i rizik odbacuje jer ne odgovara dobivenim rezultatima.The aim of this research was to form and compare efficient portfolios from the Croatian and Polish capital markets. Portfolios were formed from bonds traded on both markets. Markowitz's modern portfolio theory was used during the making accept or reject hypotheses. During compiling, in the practical part of the paper, a bond analysis was performed according to the Markowitz’s modern portfolio theory in order to conclude on the acceptance or rejection of the set hypothesis. After analyzing each capital market, it is concluded that on the Croatian capital market can be achieved higher yields, but with higher risk, compared to the Polish capital market, where investors yield lower returns but with a lower level of risk. The aim was to prove that an efficient portfolio of the Polish capital market would have a better relationship between the yield and the risk than the bond portfolio from the Croatian capital market. However, the research has shown that the bond portfolio formed on the Croatian capital market has a better relationship of yield and risk when the results are compared at the lower levels of risk than the portfolio formed on the Polish capital market. For that reason, the hypothesis that is set in such a way that the Polish capital market has better performance with respect to yield and the risk is discarded because it does not match the obtained results

FORMIRANJE OPTIMALNOG PORTFELJA OBVEZNICA NA HRVATSKOM I POLJSKOM TRŽIŠTU KAPITALA POMOĆU MARKOWITZEVOG MODELA : Diplomski rad

Cilj ovog istraživanja je formiranje i usporedba efikasnih portfelja s hrvatskog i poljskog tržišta kapitala. Portfelji su formirani od obveznica kojima se trgovalo na oba tržišta. Prilikom izrade, u praktičnom dijelu rada, izvršena je analiza obveznica korištenjem Markowitzeve moderne teorije portfelja kako bi se donio zaključak o prihvaćanju ili odbacivanju postavljenih hipoteza. Nakon analize za svako tržište kapitala donosi se zaključak kako se na hrvatskom tržištu kapitala mogu ostvariti veći prinosi ali uz veći rizik, za razliku od poljskog tržišta kapitala, gdje investitori ostvaruju manji prinos uz manji rizik. Cilj je bio dokazati da će formirani efikasni portfelj na poljskom tržištu kapitala imati bolji odnos prinosa i rizika od obvezničkog portfelja s hrvatskog tržišta kapitala. Međutim, istraživanjem se ustvrdilo da obveznički portfelj formiran na hrvatskom tržištu kapitala ima bolji odnos prinosa i rizika kada se rezultati uspoređuju pri manjim razinama rizika, nego portfelj formiran na poljskom tržištu kapitala. Stoga se hipoteza koja je postavljena na način da poljsko tržište kapitala ima bolje performanse s obzirom na prinos i rizik odbacuje jer ne odgovara dobivenim rezultatima.The aim of this research was to form and compare efficient portfolios from the Croatian and Polish capital markets. Portfolios were formed from bonds traded on both markets. Markowitz's modern portfolio theory was used during the making accept or reject hypotheses. During compiling, in the practical part of the paper, a bond analysis was performed according to the Markowitz’s modern portfolio theory in order to conclude on the acceptance or rejection of the set hypothesis. After analyzing each capital market, it is concluded that on the Croatian capital market can be achieved higher yields, but with higher risk, compared to the Polish capital market, where investors yield lower returns but with a lower level of risk. The aim was to prove that an efficient portfolio of the Polish capital market would have a better relationship between the yield and the risk than the bond portfolio from the Croatian capital market. However, the research has shown that the bond portfolio formed on the Croatian capital market has a better relationship of yield and risk when the results are compared at the lower levels of risk than the portfolio formed on the Polish capital market. For that reason, the hypothesis that is set in such a way that the Polish capital market has better performance with respect to yield and the risk is discarded because it does not match the obtained results

FORMIRANJE OPTIMALNOG PORTFELJA OBVEZNICA NA HRVATSKOM I POLJSKOM TRŽIŠTU KAPITALA POMOĆU MARKOWITZEVOG MODELA : Diplomski rad

Cilj ovog istraživanja je formiranje i usporedba efikasnih portfelja s hrvatskog i poljskog tržišta kapitala. Portfelji su formirani od obveznica kojima se trgovalo na oba tržišta. Prilikom izrade, u praktičnom dijelu rada, izvršena je analiza obveznica korištenjem Markowitzeve moderne teorije portfelja kako bi se donio zaključak o prihvaćanju ili odbacivanju postavljenih hipoteza. Nakon analize za svako tržište kapitala donosi se zaključak kako se na hrvatskom tržištu kapitala mogu ostvariti veći prinosi ali uz veći rizik, za razliku od poljskog tržišta kapitala, gdje investitori ostvaruju manji prinos uz manji rizik. Cilj je bio dokazati da će formirani efikasni portfelj na poljskom tržištu kapitala imati bolji odnos prinosa i rizika od obvezničkog portfelja s hrvatskog tržišta kapitala. Međutim, istraživanjem se ustvrdilo da obveznički portfelj formiran na hrvatskom tržištu kapitala ima bolji odnos prinosa i rizika kada se rezultati uspoređuju pri manjim razinama rizika, nego portfelj formiran na poljskom tržištu kapitala. Stoga se hipoteza koja je postavljena na način da poljsko tržište kapitala ima bolje performanse s obzirom na prinos i rizik odbacuje jer ne odgovara dobivenim rezultatima.The aim of this research was to form and compare efficient portfolios from the Croatian and Polish capital markets. Portfolios were formed from bonds traded on both markets. Markowitz's modern portfolio theory was used during the making accept or reject hypotheses. During compiling, in the practical part of the paper, a bond analysis was performed according to the Markowitz’s modern portfolio theory in order to conclude on the acceptance or rejection of the set hypothesis. After analyzing each capital market, it is concluded that on the Croatian capital market can be achieved higher yields, but with higher risk, compared to the Polish capital market, where investors yield lower returns but with a lower level of risk. The aim was to prove that an efficient portfolio of the Polish capital market would have a better relationship between the yield and the risk than the bond portfolio from the Croatian capital market. However, the research has shown that the bond portfolio formed on the Croatian capital market has a better relationship of yield and risk when the results are compared at the lower levels of risk than the portfolio formed on the Polish capital market. For that reason, the hypothesis that is set in such a way that the Polish capital market has better performance with respect to yield and the risk is discarded because it does not match the obtained results

Unveiling Anticancer Potential of COX-2 and 5-LOX Inhibitors: Cytotoxicity, Radiosensitization Potential and Antimigratory Activity against Colorectal and Pancreatic Carcinoma

Apart from cytotoxicity, inhibitors of the COX-2 enzyme have demonstrated additional effects important for cancer treatment (such as radiosensitization of tumor cells and cell antimigratory effects); however, the relationship between the inhibition of other inflammation-related enzyme 5-LOX inhibitors and anticancer activity is still not well understood. In our study, the cytotoxicity of thirteen COX-2 and 5-LOX inhibitors previously presented by our group (1–13) was tested on three cancer cell lines (HCT 116, HT-29 and BxPC-3) and one healthy cell line (MRC-5). Compounds 3, 5, 6 and 7 showed moderate cytotoxicity, but good selectivity towards cancer cell lines. IC50 values were in the range of 22.99–51.66 µM (HCT 116 cell line), 8.63–41.20 µM (BxPC-3 cell line) and 24.78–81.60 µM (HT-29 cell line; compound 7 > 100 µM). In comparison to tested, commercially available COX-2 and 5-LOX inhibitors, both cytotoxicity and selectivity were increased. The addition of compounds 6 and 7 to irradiation treatment showed the most significant decrease in cell proliferation of the HT-29 cell line (p < 0.001). The antimigratory potential of the best dual COX-2 and 5-LOX inhibitors (compounds 1, 2, 3 and 5) was tested by a wound-healing assay using the SW620 cell line. Compounds 1 and 3 were singled out as compounds with the most potent effect (relative wound closure was 3.20% (24 h), 5,08% (48 h) for compound 1 and 3.86% (24 h), 7.68% (48 h) for compound 3). Considering all these results, compound 3 stood out as the compound with the most optimal biological activity, with the best dual COX-2 and 5-LOX inhibitory activity, good selectivity towards tested cancer cell lines, significant cell antimigratory potential and a lack of toxic effects at therapeutic doses

Frequency of tuberculosis at autopsies in a large hospital in Zagreb, Croatia: a 10-year retrospective study

Aim To assess the frequency and forms of pulmonary tuberculosis at autopsy in a high-traffic hospital in the capital city of a country with a low tuberculosis incidence. Methods We performed a retrospective search of autopsy data from the period 2000 to 2009 at Sestre Milosrdnice University Hospital Center, Zagreb, Croatia. We also examined patients’ records and histological slides. Results Of 3479 autopsies, we identified 61 tuberculosis cases, corresponding to a frequency of 1.8%. Active tuberculosis was found in 33 cases (54%), 23 of which (70%) were male. Of the 33 active cases, 25 (76%) were clinically unrecognized and 19 (76%) of these were male. Conclusion Clinically undiagnosed tuberculosis accounted for a substantial proportion of active tuberculosis cases diagnosed at autopsy. Autopsy data may be an important complement to epidemiological data on tuberculosis frequency

Wild edible onions - Allium flavum and Allium carinatum - successfully prevent adverse effects of chemotherapeutic drug doxorubicin

The objective of this study was to evaluate potential of two chemically characterized edible wild onion species, Allium flavum and Allium carinatum, to reduce side effects of cytostatic doxorubicin (Dox). Since Dox application is mainly limited due to its high cardiotoxicity, while there are no approved cardioprotective agents for the prevention of Dox adverse effects, new co-treatments are urgently needed. Here, we showed that methanol extracts expressed high antioxidant activity and synergistically increased Dox anticancer activity against human hepatoma (HepG2) and lung carcinoma (A549) cells, while protected normal human fibroblasts (MRC-5) from Dox cytotoxicity. Analysis of the antioxidative enzymes level (catalase and superoxide dismutases) showed that the catalase level was differently altered in cancer cells compared to normal cells upon applied treatments. In vivo toxicity evaluation in the zebrafish model revealed significantly lower toxicity of extracts compared to Dox, and no teratogenic effects at applied doses. We found that extracts successfully rescued the Dox-treated embryos of life-threating cardiomyopathy, while at the same time reduced developmental toxicity and neutropenia. Further analysis demonstrated that extracts had higher anti-angiogenic activity than sunitinib or auranofin, clinically used anti-angiogenic drugs. In addition, angiogenesis was markedly more suppressed in Dox-extract cotreatments than upon single treatments

Prolificacy of kupreska pramenka ewe and daily gains of lambs in the island of Brac conditions

Cilj istraživanja bio je utvrditi neke proizvodne odlike ovaca kupreške pramenke, nastale u planinskim uvjetima s oštrom i hladnom zimom te obilnom pašom tijekom vegetacije, u ekološkim uvjetima otoka Brača. Istraživanje u trajanju od 2 godine (2001. i 2002.) provedeno je na jednom obiteljskom poljoprivrednom gospodarstvu na otoku Braču koje se tradicionalno bavi uzgojem ovaca za meso i mlijeko. U istraživanje je bila uključena 161 ovca (78 u 2001., 83 u 2002. godini) i njihova janjad (93 u 2001. i 99 u 2002. godini, ukupno 192). Prosječna plodnost ovaca iznosila je 119% i nije utvrđen signifikantan utjecaj godine na plodnost (P>0,05). Prosječna porodna masa muške janjadi iznosila je 4,51 kg, a ženske 4,36 kg, dok je prosječna tjelesna masa muške janjadi u dobi od 35 dana iznosila 12,25 kg, a ženske 11,7 kg. Janjad je na kraju tova (58 dana) težila prosječno 18,50 kg. Prosječni dnevni prirast muške i ženske janjadi bio je gotovo identičan, a iznosio je 248,7 g u muške i 240,6 g u ženske janjadi.The aim of the research was to determine some production characteristics of kupreska pramenka on the island of Brac, kept in highland environmental conditions with sharp and cold winter and plenty of pasture during the vegetation. The research was conducted on the family farm Salamunovic on the island of Brac, during 2001 and 2002 year. The Salamunovic family traditionally breeds sheep for lamb meat and milk production. 161 ewes (78 in 2001, 83 in 2002) and lambs (93 in 2001 and 99 in 2002, 192 in all) were included in this research. The average prolificacy of ewes was 119% and the influence of year was not found significant for prolificacy (P>0,05). The average birth weight of male lambs was 4.51 kg, and female lambs 4.36 kg. At the age of 35 days the average body weight of male lambs was 12.12 kg and females 11,7 kg. At the end of the fattening period (58 days) the final weight of lambs was 18.50 kg. Average daily gains of lambs were almost the same; male lambs weiched 248.7 g and females 240.6 g

EMPOWERING ANTIFUNGAL DRUGS DISCOVERY THROUGH THE ZEBRAFISH-INFECTIOUS DISEASES MODELLING

Fungal infections, once considered a rare disease, have become an everyday problem in modern societies, posing major challenges to global health. It is estimated that more than one billion people are affected by fungal infections and 1.6 million people succumb to these diseases every year. Of the 600 species of fungi capable of causing infections in humans, species of the genus Candida cause more than 85% of infections, especially C. albicans, which has become a serious threat to human health in immunocompromised and immunosuppressed individuals. Unfortunately, the current arsenal of clinical drugs relies on only four classes of approved drugs (polyenes, azoles, echinocandins and allylamines), which are only partially effective, resulting in incomplete eradication of the fungal infection. In addition, the serious side effects, ranging from systemic or organ-specific toxicity to poor bioavailability and low activity, significantly hamper the clinical use of antifungals. These problems call for new effective and safe antifungal agents,but also for appropriate preclinical models to accurately study potential adverse effects on the human population and test their efficacy against fungal infections. In this sense, zebrafish (Danio rerio) embryos have become one of the most powerful preclinical animal models in infection biology and drug discovery, offering the unique opportunity to simultaneously monitor the safety and efficacy of the applied molecule in real time. With the aim of providing a preclinical platform for the identification of new safe antifungal drugs to effectively control C. albicans infection, we comprehensively tested the toxicity of 13 clinical antifungal drugs in the zebrafish embryo model. The 21 toxicity endpoints, including survival, teratogenicity, cardiotoxicity and hepatotoxicity, were evaluated and compared with adverse effects described in rats and humans. Of the clinical drugs, the efficacy of fluconazole and voriconazole was evaluated in the zebrafish - C. albicans model of systemic and wound biofilm infection.Book of abstract: From biotechnology to human and planetary health XIII congress of microbiologists of Serbia with international participation Mikromed regio 5, ums series 24: 4th – 6th april 2024, Mona Plaza hotel, Belgrade, Serbi

Unveiling Anticancer Potential of COX-2 and 5-LOX Inhibitors: Cytotoxicity, Radiosensitization Potential and Antimigratory Activity against Colorectal and Pancreatic Carcinoma

Apart from cytotoxicity, inhibitors of the COX-2 enzyme have demonstrated additional effects important for cancer treatment (such as radiosensitization of tumor cells and cell antimigratory effects); however, the relationship between the inhibition of other inflammation-related enzyme 5-LOX inhibitors and anticancer activity is still not well understood. In our study, the cytotoxicity of thirteen COX-2 and 5-LOX inhibitors previously presented by our group (1-13) was tested on three cancer cell lines (HCT 116, HT-29 and BxPC-3) and one healthy cell line (MRC-5). Compounds 3, 5, 6 and 7 showed moderate cytotoxicity, but good selectivity towards cancer cell lines. IC50 values were in the range of 22.99-51.66 µM (HCT 116 cell line), 8.63-41.20 µM (BxPC-3 cell line) and 24.78-81.60 µM (HT-29 cell line; compound 7 > 100 µM). In comparison to tested, commercially available COX-2 and 5-LOX inhibitors, both cytotoxicity and selectivity were increased. The addition of compounds 6 and 7 to irradiation treatment showed the most significant decrease in cell proliferation of the HT-29 cell line (p < 0.001). The antimigratory potential of the best dual COX-2 and 5-LOX inhibitors (compounds 1, 2, 3 and 5) was tested by a wound-healing assay using the SW620 cell line. Compounds 1 and 3 were singled out as compounds with the most potent effect (relative wound closure was 3.20% (24 h), 5,08% (48 h) for compound 1 and 3.86% (24 h), 7.68% (48 h) for compound 3). Considering all these results, compound 3 stood out as the compound with the most optimal biological activity, with the best dual COX-2 and 5-LOX inhibitory activity, good selectivity towards tested cancer cell lines, significant cell antimigratory potential and a lack of toxic effects at therapeutic doses