Predicting Bankruptcy of Shipbuilding Companies on the Basic of Financial Statement Data

Companies in their operation often face problems in meeting their financial obligations and are unable to settle their trade liabilities owed to creditors. As their liabilities exceed their assets, the bankruptcy is initiated. The relevance of bankruptcy prediction is a frequent topic of research by many authors. Shipbuilding in the Republic of Croatia was one of key industry sectors in light of a large number of workers, a high share in exports, and numerous sub-contractors who were directly or indirectly participating in production. Business operations of major Croatian shipbuilding companies have deteriorated in recent years. The objective of this paper is to examine if it is possible to predict company bankruptcy on the basis of data presented in shipbuilding companies’ financial statements by using mathematical methods and bankruptcy prediction models

Predicting Bankruptcy of Shipbuilding Companies on the Basic of Financial Statement Data

Companies in their operation often face problems in meeting their financial obligations and are unable to settle their trade liabilities owed to creditors. As their liabilities exceed their assets, the bankruptcy is initiated. The relevance of bankruptcy prediction is a frequent topic of research by many authors. Shipbuilding in the Republic of Croatia was one of key industry sectors in light of a large number of workers, a high share in exports, and numerous sub-contractors who were directly or indirectly participating in production. Business operations of major Croatian shipbuilding companies have deteriorated in recent years. The objective of this paper is to examine if it is possible to predict company bankruptcy on the basis of data presented in shipbuilding companies’ financial statements by using mathematical methods and bankruptcy prediction models

Liquidity management in small and medium-sized construction enterprises during crisis - the case of Croatia

Purpose: The aim of this study is to investigate the effects of liquidity management on the profitability of small and medium-sized Croatian enterprises during the economic crisis of 2008 and the crisis caused by COVID-19 and provide empirical evidence of the effects of liquidity management on profitability. Methodology: The collected data were analyzed using the methods of descriptive statistics, chain and base indices as well as Spearman’s correlation coefficient, while the normality of the distribution of the selected sample of small and medium-sized enterprises was examined with the Shapiro-Wilk W test. Results: According to the research results, the economic crisis in the period from 2008 to 2014 had more pronounced negative effects on liquidity management of the observed companies than the economic crisis in the conditions of the COVID-19 pandemic. Conclusion: The research results showed that liquidity management and achieving adequate profitability in times of crisis are very important for small and medium-sized construction companies because their total assets are dominated by short-term assets, while short-term liabilities are their dominant source of funding so better education in the field of finance is recommended in order to understand the use of their own and others sources of funding

The thyroid diseases

Štitnjača je endokrina žlijezda tj. žlijezda s unutrašnjim lučenjem hormona. Hormoni štitnjače su tiroksin (T4) i trijodtironin (T3). Utječu na sva tkiva u organizmu i o njima ovisi pravilna funkcija svih organa u tijelu. Bolesna štitnjača može lučiti previše hormona T4 i T3, tada nastupa hipertireoza, tj. ubrzan rad štitnjače. Kad štitnjača luči premalo hormona T4 i T3 dolazi do hipotireoze, usporenog rada štitnjače. Najteža komplikacija hipotireoze je miksedemska koma. Tkiva mogu biti i rezistentna na hormone štitnjače, što uzrokuje hipotireozu. Hipertireoza se najčešće manifestira kao Gravesova bolest, toksična čvorasta guša ili sekundarna hipertireoza. Tireotoksična kriza je najteža, po život opasna, komplikacija hipertireoze koja se pojavljuje naglo. Guša (netoksična guša ili struma) podrazumijeva sve oblike povećanja štitnjače, bez obzira na uzrok i terapijske postupke koji su različiti u raznim oblicima strume. Guša nastaje kada jedan ili više čimbenika smanji sposobnost štitnjače da stvara i luči dovoljnu količinu hormona za zadovoljavanje potreba perifernih tkiva. Endemska gušavost je generalizirano ili lokalizirano povećanje štitnjače u više od 10% populacije, a uzrokuje je jedan ili više čimbenika karakterističnih za određeno zemljopisno područje. Nedostatak joda je najčešći uzrok ali ima i drugih čimbenika. Sporadična gušavost označava povećanje štitnjače u neendemskom području. Toksična multinodozna guša može biti posljedica dugotrajne jednostavne gušavosti u endemskim krajevima dok se u neendemskim može teško ustanoviti. Toksični adenom je sličan multinodularnoj toksičnoj strumi ali se radi samo o jednom čvoru koji je uzročnik hipertireoze. Akutna upala, subakutni i kronični Hashimotov tireoditis su najčešće upale štitnjače. Tumori štitnjače mogu biti dobroćudni i zloćudni.Thyroid is an endocrine gland with internal excretion of its hormones. Thyroid hormones are thyroxine (T4) i triiodothyronine (T3). They affect all body tissues and they have an important role in regular function of all organs in the body. Disfunctional thyroid can excrete too much hormones T4 i T3, so the hyperthyreoidism occurs (that is a state in which thyroid metabolism is enhanced). When the thyroid excretes less T4 i T3 hormones than normally, the hypothyreoidism occurs. The worst complication of hypothyreoidism is a myxedema coma. Body tissues can also be resistant to thyroid hormones and that causes the hypothyreoidism. The hyperthyreoidism is generally manifested as Graves' disease, toxic nodule goiter or secondary hyperthyreoidism. Thyreotoxic crisis is the hardest complication of hyperthyreoidism which occurs suddenly. Goiter (nontoxic one) includes all types of thyroid's growth, regardless of the cause of the growth or therapy procedures which are different for different types of goiter. Goiter occurs when one or more factors decrease the thyroid's ability to produce and excrete enough hormones. Endemic goiter is generalized or localized growth of the thyroid in more of the 10% of the population. It is caused by one or more factors typical for a certain geographic area. The common reason is iodine deficiency but there are also other factors. Sporadic goiter is the thyroid growth in non-endemic area. Toxic multinodular goiter can be a consequence of a long-term simple goiter in endemic areas, while in non-endemic areas it is hardly detected. Toxic adenoma is similar to multinodular toxic goiter, but in this case there is a single node that causes hyperthyreoidism. Acute abscess, subacute and chronic Hashimoto's thyreoiditis are the most common thyroid abscesses. Thyroid tumors can be malignant or benign tumors

„Unutrašnji emigrant”: političke ideje Milovana Đilasa 1954–1989

The aim of this article is to examine the political ideas of Milovan Djilas (1911–1995) developed in his dissident period (1954–1989). Once a highly ranked communist and revolutionary of Tito’s antifascist partisan army in the Second World War Yugoslavia, Milovan Djilas (1911–1995) became widely known as one of the most important dissident figures in Eastern Europe. A noted reformist since Tito-Stalin split in 1948 and political prisoner (1956–1961, 1962–1966), Djilas was deprived from all public activity in his country until the end of communist rule. Author of more than twenty books translated and published abroad, ranging from political analysis and memoirs to novels and shorts stories, Djilas never truly gave up the ideals of the young talented writer he was in the early 1930s when he joined the communists. Declaring himself a democratic socialist, it was in his dissident period that he formulated a specific form of political philosophy which included his criticism of communist ideology and Titoist authoritarian rule in Yugoslavia, but also wider thoughts on human condition, literature and philosophy in the 20th century.The aim of this article is to examine the political ideas of Milovan Djilas (1911–1995) developed in his dissident period (1954–1989). Once a highly ranked communist and revolutionary of Tito’s antifascist partisan army in the Second World War Yugoslavia, Milovan Djilas (1911–1995) became widely known as one of the most important dissident figures in Eastern Europe. A noted reformist since Tito-Stalin split in 1948 and political prisoner (1956–1961, 1962–1966), Djilas was deprived from all public activity in his country until the end of communist rule. Author of more than twenty books translated and published abroad, ranging from political analysis and memoirs to novels and shorts stories, Djilas never truly gave up the ideals of the young talented writer he was in the early 1930s when he joined the communists. Declaring himself a democratic socialist, it was in his dissident period that he formulated a specific form of political philosophy which included his criticism of communist ideology and Titoist authoritarian rule in Yugoslavia, but also wider thoughts on human condition, literature and philosophy in the 20th century

Prilog poznavanju kolonizacije pograničja Karlovačkog generalata 1790-ih

U ovom radu je, na temelju neiskorištenih izvora pohranjenih u raznim fondovima Hrvatskoga državnog arhiva u Zagrebu pobliže istražen proces kolonizacije teritorija koji je Habsburška Monarhija stekla nakon Turskog rata 1788-1791. na području današnjega Korduna i Ličkog Pounja. S obzirom na karakter dostupnog gradiva, istraživački je fokus primarno usmjeren na okolnosti prelaska prebjega s osmanskog na habsburški teritorij, na kolonizaciju krajišnika na novu stečevinu te na karakter novopodignutih sela na isturenom pograničju

Fossils of Medvednica mountain

Najvažnija zagrebačka planina i oaza mira za brojne zagrepčane te simbol bijega u prirodu iz užurbanog glavnog grada, u sebi skriva dugu povijest. Na današnji položaj izdignula se prije oko 12 milijuna godina burnim tektonskim procesima. Na njoj pronalazimo sve osnovne vrste stijena i fosile iz gotovo svakog razdoblja u povijesti. Jezgra Medvednice izgrađena je od metamorfnog zelenog škriljavca koji krasi pročelja mnogih objekata na Medvednici kao što su Tomislavov dom i kapelica Majke Božje Sljemenske Kraljice Hrvata. Drugu najučestaliju stijenu Medvednice, litotamnijski vapnenac ili litavac, možemo vidjeti na mirogojskim arkadama i Zagrebačkoj katedrali. Važan dio tih stijena su i ostaci organizama, poput algi i ljuštura školjkaša, koji su živjeli u tadašnjim plićacima Panonskog mora koje je okruživalo, a dijelom i prekrivalo Medvednicu. Nažalost, litavac je podložan kemijskom i mehaničkom trošenju zbog svog vapnenačkog sastava i porozne građe te ne predstavlja izdrživ materijal zbog čega se na katedrali zamijenjuje talijanskim travertinom. Kameno blago Medvednice iskorištavano je od davnina, a mnogi napušteni kamenolomi danas predstavljaju mjesto okupljanja za brojne znanstvenike i zaljubljenike u prirodu jer se u njima mogu naći brojni fosili i minerali. Ostaci različitih organizama pokazatelj su promjena paleookolišta tijekom povijesti i složenoj geološkoj prošlosti Medvednice koju sam pobliže objasnila i prikazala u ovom seminarskom radu.The most important mountain of Zagreb and the oasis of peace for many citizens of Zagreb symbolizing escape from the busy capital, hides a long history. About 12 million years ago, today's form of Medvednica mountain emerged in tectonic processes. It contains all the main types of rocks and fossils from almost all periods in history. The Medvednica mountain is made of a metamorphic green slate that adorns the facades of many buildings in Medvednica such as Tomislav's home and chapel of the Mother of God of the Sljeme Queen of Croats. The second most common rock of Medvednica mountain, characteristic limestone or „litavac“, can be seen at the arcades of Mirogoj and the Zagreb cathedral. An important part of these rocks is the remains of organisms, such as algae and shellfish, who lived in the beaches of the Pannonian Sea that surrounded, and partly covered Medvednica. Unfortunately, limestone from Medvednica mountain is subject to chemical and mechanical wear due to its composition and porous material and is not a viable material, which is why the cathedral is replaced by Italian travertine. Stones of20 Medvednica mountain have been exploited since ancient times, and many abandoned quarries represent a gathering place for many scientists and nature lovers, as numerous fossils and minerals can be found. The remains of different organisms are the indicator of the change of paleoenvironment during the history and complex geological past of Medvednica, which I explained and presented in this work

Ekstraterestička voda

NASA (National Aeronautics and Space Administration) američka je svemirska agencija. Svoja istraživanja NASA provodi instrumentima s planeta Zemlje ili pomoću letjelica koje šalje u svemir. Veliki dio svojih istraživanja usmjerava na pronalazak vode u svemiru i naseljivih objekata koji bi mogli podržavati život kakav je poznat na našem planetu. Objekti koji sadrže vodu najčešće su asteroidi Glavnog asteroidnog pojasa te mjeseci planeta Sunčevog sustava. Također, voda je pronađena i izvan Sunčeva sustava. Kroz dugogodišnji rad, NASA je osnovala nekoliko misija koje proučavaju različite planetarne sustave u potrazi za vodom. Misija Dawn svoju je svemirsku letjelicu poslala prema objektima Glavnog asteroidnog pojasa, prema asteroidu Vesta i „patuljastom” planetu Ceresu. Asteroid Vesta drugi je najveći objekt Glavnog asteroidnog pojasa koji se uglavnom sastoji od bazalne stijene. Površina mu je hladna i prekrivena smrznutom lavom. Na ovom objektu nije pronađena voda. S druge strane, Ceres skriva ledeni ocean ispod svoje površine. On je najveći objekt Glavnog asteroidnog pojasa i ulazi u kategoriju „patuljastih” planeta. Ima nekoliko svijetlih područja (kratere i planinu Ahuna Mons) na svojoj površini koja su bogata mineralima. Oko Ceresa primjećen je oblak vodene pare koja se pojavljuje u mlazovima što ukazuje da duboko ispod površine Ceresa postoji ocean. Jupiter i Saturn su planeti na kojima zasigurno nije otkrivena voda, no proučavanjem njihovih planetarnih sustava, otkriveni su bogati vodeni svjetovi; njihovi mjeseci. Jupiterovi najpoznatiji mjeseci su Io, Europa, Ganimed i Kalisto od kojih su najzanimljiviji Europa i Ganimed. Pomoću podataka skupljenih magnetometrom, kojeg je nosila letjelica koja ih je proučavala, pretpostavljeno je da oba mjeseca skrivaju oceane slane vode ispod svoje površine. Uz to, Europa je najsvijetliji mjesec, dok je Ganimed jedini koji ima magnetosferu. Saturnovi najviše proučavani mjeseci su Encelad i Titan. Saturn je jedini planet koji ima prstene oko sebe. Ima ih čak sedam od kojih jedan nastaje izbacivanjem ledenih čestica iz unutrašnjosti mjeseca Encelada. Dio čestica ukrašava površinu mjeseca kako se vraća na nju te je čini bijelom kao da je prekrivena snijegom. Erupcije takvog materijala događaju se iz pukotina na površini nazvanim „tigrovim prugama”. Smjesa ledenih čestica koja dolazi s površine Encelada sastoji se od vodene pare, plinova, organskih tvari, minerala i soli. Titan je drugi najveći mjesec Sunčeva sustava, a Saturnov najveći. On je prekriven jezerima, rijekama i morima od tekućih § Sažetak vii Petra Stanić Završni rad ugljikovodika i metana. Titan je vulkanski aktivan mjesec, no iz njegovih vulkana istječe voda. To nam daje sigurnost u postojanje oceana ispod površine. Mars je planet koji je znanstvenicima dostupan, a najsličniji je Zemlji te je zbog toga dobra meta istraživanja. On ima atmosferu, klimu i geološku promjenjivost što ga čini pogodnim mjestom za život. Znanstvenici pretpostavljaju da je Mars nekada imao gušću atmosferu te površinu prekrivenu oceanom slane vode. Atmosfera se razrijedila, a voda je nestala pod utjecajem struje nabijenih čestica koja dolazi iz gornje atmosfere Sunca. Teleskopi sa Zemlje te meteoriti za koje se smatra da su na Zemlju došli s Marsa, omogućili su procjenu količine izgubljene vode. Danas je Mars suh planet, no zadržao je dio vode koju čuva u polarnim kapama. Potraga za vodom proširila se i izvan Sunčeva sustava. U protekla dva desetljeća otkriveni su mnogi egzoplaneti koji imaju uvjete za razvoj života od kojih se kao prvi uzima voda. Vodena para pronađena je na planetu HAT-Pb. Kepler-22b planet je koji se nalazi u naseljivoj zoni, no nije dovoljno istražen da bi se mogao potvrditi njegov sastav. Kepler-62f i Kepler-62g također su planeti koji se nalaze u naseljivoj zoni. Oblake vode i vodeni led sadrži „smeđi patuljak” WISE 0855. Iako je na mnogim svemirskim objektima pronađena voda, životu kakvog poznajemo nema traga. Istraživanja se nastavljaju u tom smjeru u nadi da će neki planeti tek razviti život dok će se na nekim drugima možda pronaći dokazi već ugašenog života