INTEGRACIJA INFORMACIJSKIH SUSTAVA ZA PROVOĐENJE ANKETE

U prvom dijelu ovog rada navedene su osnovne faze u provođenju ankete: prikupljanje podataka, njihova organizacija i upravljanje, te konačno analitička obrada. Ukazano je i na trenutno stanje u korištenju suvremene informatičke tehnologije u provođenju svih navedenih faza ankete. Ono je, s jedne strane, karakterizirano postojanjem razvijenih kvalitetnih programskih rješenja za svaku fazu zasebno, a s druge strane, tek započetim koracima k izradi jedinstvenog informacijskog sustava koji bi pokrivao cijeli tok provođenja ankete. U daljnjem tekstu ukazano je na neka moguća rješenja tog problema. Izbor po jednog već postojećeg, nezavisnog, informacijskog rješenja za svaku fazu, te izgradnja potrebnih veza najbrže je i najjednostavnije rješenje. Izgradnja Jedinstvenog informacijskog sustava za sve faze provođenja ankete koji se bazira na zajedničkoj metabazi podataka dat će dugoročno i najkvalitetnije rješenje, ali je put do njega najskuplji.Na kraju rada navedena je literatura koja pokriva i najnovije radove s tog područja

Testing Impact of Commitment to Business Ethics Influences Corporation Performance: Preliminary Research

Growing recognition of significance and the impact that commitment to business ethics has on corporate performance has attracted the interest of scientific and business researchers alike. At the same time, various stakeholders including boards, senior and corporate managers, employees, customers, suppliers, investors, governments and communities have been interested in the correlation between corporate performance in non-financial terms and its commitment to business ethics which has significantly increased its importance as well as its dominant impact in business. Research of the correlation of business ethics and business performance is widely conducted in the developed countries, yet it is still rare in Western Balkans countries, including Croatia, which gave rise to the need to conduct a survey on this topic. The paper comprises preliminary research which examines critical factors that present commitment to business ethics and their influence to non-financial performance indicators of the corporations. The paper also explores why and how the commitment to business ethics can contribute to the creation of corporate values that are eventually reflected in non-financial terms. The paper intends to give executives practical hands-on advice about the benefits of commitment to business ethics in a highly dynamic business environment today. This work is licensed under a&nbsp;Creative Commons Attribution-NonCommercial 4.0 International License.</p

INTEGRACIJA INFORMACIJSKIH SUSTAVA ZA PROVOĐENJE ANKETE

U prvom dijelu ovog rada navedene su osnovne faze u provođenju ankete: prikupljanje podataka, njihova organizacija i upravljanje, te konačno analitička obrada. Ukazano je i na trenutno stanje u korištenju suvremene informatičke tehnologije u provođenju svih navedenih faza ankete. Ono je, s jedne strane, karakterizirano postojanjem razvijenih kvalitetnih programskih rješenja za svaku fazu zasebno, a s druge strane, tek započetim koracima k izradi jedinstvenog informacijskog sustava koji bi pokrivao cijeli tok provođenja ankete. U daljnjem tekstu ukazano je na neka moguća rješenja tog problema. Izbor po jednog već postojećeg, nezavisnog, informacijskog rješenja za svaku fazu, te izgradnja potrebnih veza najbrže je i najjednostavnije rješenje. Izgradnja Jedinstvenog informacijskog sustava za sve faze provođenja ankete koji se bazira na zajedničkoj metabazi podataka dat će dugoročno i najkvalitetnije rješenje, ali je put do njega najskuplji.Na kraju rada navedena je literatura koja pokriva i najnovije radove s tog područja

UPOTREBA ANALIZE SNAGE TESTA U PRONALAŽENJU ODGOVARAJUĆE VELIČINE UZORKA ZA POTREBE KONTROLE KVALITETE

Selection of an appropriate sample size is one of the most important aspects of any quality inspection. The right sample size enables making valid conclusions about the quality of the product with minimum necessary resources. The choice of sample size and the probability of Type II error (ß) are closely connected. The purpose of this paper is to examine how usage of a statistical power analysis can improve researcher’s decision about choosing an appropriate sample size for experimental purposes and quality inspection. Apart from sample size, the power of a study (1- ß) or the probability that the study will yield signifi cant results is determined by the magnitude of the treatment effect and by the level of statistical signifi cance required (α). The goal of power analysis is to balance values of these three factors to get an appropriate power. Impact of individual changes of each factor on the power was observed through a hypothetical statistical example based on a signifi cance test in which the diff erence between proportions of two independent samples was estimated. Power and Precision soft ware was used for calculations. Results of the power analysis have shown that increase in eff ect size, sample size and/or level of statistical signifi cance lead to an increase in power. This means if power increased and/or eff ect size and/or level of statistical significance decreased, a larger sample size would be required. This paper demonstrates the usefulness of using statistical power analysis in determining appropriate sample size and warns about possible consequences of erroneously selected sample size.Izbor odgovarajuće veličine uzorka jedan je od najvažnijih problema prilikom provođenja kontrole kvalitete. Odgovarajuća veličina uzorka omogućava donošenje valjanih zaključaka o kvaliteti proizvoda korištenjem minimalne razine potrebnih resursa. Izbor veličine uzorka i vjerojatnost pogreške tipa II (ß) usko su povezani. Cilj ovog rada je istražiti kako analiza snage testa može pomoći istraživaču u odabiru odgovarajuće veličine uzorka za potrebe provođenja određenog eksperimenta i kontrole kvalitete. Osim veličine uzorka, snaga testa (1- ß) odnosno vjerojatnost da će istraživanje pokazati signifikantne rezultate određena je veličinom efekta tretmana i razinom tražene razine signifi kantnosti (alfa). Cilj analize snage testa je da pronađe ravnotežu između tih tri faktora kako bi se postigla zadovoljavajuća razina snaga testa. Utjecaj pojedinačnih promjena svakog od faktora na vrijednost snage testa promatrano je primjenom hipotetičkog statističkog testa u kojem se testirala vrijednost razlike proporcija na dva nezavisna uzorka. Za potrebe izračuna korišten je program Power and Precision. Rezultati analize snage testa pokazali su da povećanje veličine efekta, veličine uzorka i/ili povećanje razine značajnosti utječe na povećanje snage testa. Iz navedenog proizlazi da se povećanjem snage testa, veličinom efekta i/ili povećanjem razine značajnosti smanjuje potrebna veličina uzorka. Ovim radom ukazuje se na korisnost primjene statističke analize snage testa u određivanju optimalne veličine uzorka te se upućuje na posljedice pogrešno izabrane veličine uzorka

Testing Impact of Commitment to Business Ethics Influences Corporation Performance: Preliminary Research

Growing recognition of significance and the impact that commitment to business ethics has on corporate performance has attracted the interest of scientific and business researchers alike. At the same time, various stakeholders including boards, senior and corporate managers, employees, customers, suppliers, investors, governments and communities have been interested in the correlation between corporate performance in non-financial terms and its commitment to business ethics which has significantly increased its importance as well as its dominant impact in business. Research of the correlation of business ethics and business performance is widely conducted in the developed countries, yet it is still rare in Western Balkans countries, including Croatia, which gave rise to the need to conduct a survey on this topic. The paper comprises preliminary research which examines critical factors that present commitment to business ethics and their influence to non-financial performance indicators of the corporations. The paper also explores why and how the commitment to business ethics can contribute to the creation of corporate values that are eventually reflected in non-financial terms. The paper intends to give executives practical hands-on advice about the benefits of commitment to business ethics in a highly dynamic business environment today. This work is licensed under a&nbsp;Creative Commons Attribution-NonCommercial 4.0 International License.</p

Impact of Commitment to Business Ethics to Nonfinancial Business Performance

The article investigates the relationship between commitment to business ethics and nonfinancial business performance. Data of commitment to business ethics and nonfinancial business performance were collected from 100 participants through a questionnaire survey. The survey was conducted in 2015 in Croatian large and medium sized companies. The questionnaire for assessing commitment to business ethics contained nine different dimensions while the nonfinancial business performance contained three dimensions: client satisfaction, human resource management plus innovativeness and efficiency of business processes. Multiple regression methods were applied in the analysis. The empirical results of three multiple linear regression models show that certain dimension of commitment to business ethics had a positive influence on the nonfinancial performance of the companies. Motivation and rewarding policy for ethical behavior and responding to unethical behavior, as a dimension of commitment to business ethics, has distinctive effects on all three nonfinancial performance dimensions. It was also found that selecting suppliers based on the standards of ethics and compliance has a positive and strong influence on client satisfaction while using ethical criteria in the performance and efficiency evaluation of employees has a positive and significant influence on innovativeness and efficiency of business processes. This research leads to the conclusion that some dimensions of commitment to business ethics can be important predictors of nonfinancial business performance. Therefore, results of the research could be considered as valid motivation for further improvement of commitment to ethics in the business environment

Statistical Control Charts: Performances of Short Term Stock Trading in Croatia

Background: The stock exchange, as a regulated financial market, in modern economies reflects their economic development level. The stock market indicates the mood of investors in the development of a country and is an important ingredient for growth. Objectives: This paper aims to introduce an additional statistical tool used to support the decision-making process in stock trading, and it investigate the usage of statistical process control (SPC) methods into the stock trading process. Methods/Approach: The individual (I), exponentially weighted moving average (EWMA) and cumulative sum (CUSUM) control charts were used for gaining trade signals. The open and the average prices of CROBEX10 index stocks on the Zagreb Stock Exchange were used in the analysis. The statistical control charts capabilities for stock trading in the short-run were analysed. Results: The statistical control chart analysis pointed out too many signals to buy or sell stocks. Most of them are considered as false alarms. So, the statistical control charts showed to be not so much useful in stock trading or in a portfolio analysis. Conclusions: The presence of non-normality and autocorellation has great impact on statistical control charts performances. It is assumed that if these two problems are solved, the use of statistical control charts in a portfolio analysis could be greatly improved

Izučavanje alfa i beta rizika u dokaznim testovima revizora

U radu su prikazani istraživački nalazi do kojih je autorica došla uporabom metode uzoraka i metode statističke kontrole kvalitete u analizi revizijskih rizika nastalih zbog uzorka. Primjenom modela testiranja revizijskih hipoteza, uz hipotetične primjere pri dokaznom testu revizora, otkriveni su sljedeći odnosi: uočena je obrnuta proporcionalnost između α rizika i β rizika; obrnuta proporcionalnost β rizika s inherentnim, kontrolnim i rizikom analitičkih postupaka; veličina uzorka je obrnuto proporcionalna vrijednostima: rizika α, prihvatljive preciznosti (A), kao i dopuštene pogreške (TM). Preciznost A poprima veću vrijednost kada je veća vrijednost β rizika. Analizom krivulja operativne karakteristike (OC) pri odabranom planu uzorkovanja za prihvaćanje zaključuje se da između rizika pogrešnog prihvaćanja revizijske populacije β (rizika korisnika revizijskih nalaza), uz fiksirane vrijednosti ostalih relevantnih faktora (α, AQL i LTPD) i veličine potrebnog uzorka, postoji obrnuta proporcionalnost. Variranjem razine rizika pogrešnog odbacivanja revizijske populacije α (rizika menadžmenta) na niskim razinama, uz nepromijenjene druge relevantne faktore (β, AQL i LTPD), veličina uzorka se nije vidljivo promijenila

Ispitivanje povezanosti značajki poduzeća i korištenja bankovnih savjetodavnih usluga - anketa na uzorku hrvatskih poduzeća

Moderna poduzeća izložena su brojnim izazovima, koji variraju od strateških pitanja pa sve do upravljanja financijskim rizicima. Kako bi se poduzeća mogla efikasnije boriti s navedenim problemima, potrebne su im usluge financijskog savjetovanja, koje u posljednje vrijeme pružaju hrvatske banke. Cilj rada je, primjenom odgovarajućih statističkih metoda, istražiti u kojoj mjeri se hrvatska poduzeća koriste uslugama financijskog savjetovanja u bankama, te ima li korištenje usluga financijskog savjetovanja utjecaja na uspješnost poduzeća. Kako bi se dobio odgovor na istraživačka pitanja provedeno je originalno anketno istraživanje na uzorku hrvatskih poduzeća. Otkrivene su nove spoznaje koje ukazuju da korištenje usluge financijskog savjetovanja pridonosi uspješnosti poduzeća, mjerenoj u terminima veličine ukupnog prihoda, financijske situacije u poduzeću (likvidnosti) i veličine tržišta koju poduzeće pokriva. Ovim istraživanjem je utvrđeno da jedino sustavno informiranje i proaktivno praćenje novosti na financijskom tržištu može osigurati napredak poduzeća u turbulentnim vremenima domaćih promjena i globalizacije tržišta

Istraživanje primjene metoda upravljanja financijskim rizicima u hrvatskim poduzećima - anketa na uzorku poduzeća

The aim of the research was to get information on usage of financial risk protection instruments in Croatian large and medium-sized companies, as well as to recognize existence of possible differences among characteristics of the companies that use and that do not use them. Survey research based on a telephone interview with financial or accounting managers from a stratified random sample of 101 Croatian companies in October and November 2004 was carried out. The stratification criterion was «number of employees». One stratum contained medium-sized companies that were defined as those with 51-250 employees, and the other one included companies with more than 250 employees. Approximately equal allocation with 50 large and 51 medium-sized enterprises from each of respective strata was applied. Methods of estimation used took into account the procedure of random sampling of units, so that margin of errors could be calculated. Considering normal approximation, in each strata the research result for the proportion, with 95% confidence level and coefficient of confidence z = 1.96, is within margin of error of maximum +/- 14,2%. The results of the survey research based on random sample of 101 Croatian companies shown that there is no statistically significant dependence between the firms’ size and usage of risk protection, so planned stratification was not stressed in further analysis. The research results were compared to the results of similar surveys from Europe and America. The common conclusions in all these studies were that financial managers are aware of the danger arisen from financial and other risks, but the financial policy in most cases is not precisely defined. Even if this policy is defined, it is formal and reactive, and very seldom proactive. Control functions and risk management seem to be quite centralized business functions in most of surveyed companies. There is a lack of systematic standardized «financial risk manager» function, and a well organized financial department seems to be an exception. According to the survey, financial risk protection instruments were used by two fifth of companies from the sample, and the same proportion of them wants to have additional education a about these instruments. Only one fifth of companies covered by the survey have got a kind of developed protection policy. The most often enterprises use financial risk protection services from banks, and in most cases they are satisfied or vary satisfied with these services. The surveyed enterprises worry the most about liquidity risks and currency risks, and interest rate risk is not the subject of such great concerns. This paper deals in details about various haracteristics (such as company size, activity, region, and size of market) of enterprises that are threatened to quite serious extent with various types of financial risks. Interviewees from 41 companies that use financial risk protection methods mentioned that the most often used protection instruments against liquidity risk were: cash flow investment analysis (70% out of 41), and analysis of assets, liabilities and sources (also 70%). Against currency risk surveyed companies most often use: currency futures (34%), selling prices policy (29%) and currency forward (27%). Against interest rate risk the most often applied protection instruments were: interest rate futures (12%) and interest rate management at the money market (10%). The reasons for not using the protection instruments are insufficient knowledge about them, prevailed perception that they are not efficient and that are too expensive. Contribution of this study comes out of the testing of hypothesis about dependence between characteristics of Croatian companies and the usage of financial risk protection instruments. The survey results show that the companies that are using these instruments are more often registered as share holding companies than as limited, they have significantly greater average yearly revenue, and their revenue is increasing more often according to previous year than in companies that are not using protection instruments. Also, companies using controlling approach tend to apply protection instruments in their business. Further, these companies very often use bank services to help them in protection. Last, but not the least, financial managers in companies with active financial protection policy have got higher education than in those companies that are not actively protecting themselves. Usage of financial risk protection instruments contributes the business success of a company. Only continuous and proactive informing about financial position of a company concerning its exposure to total risk may insure survival, keeping market position, and progress of a Croatian company in recognized turbulent environment of domestic transformations, market globalization, and the pressure for accepting rules of a game of international competitiveness. Finally, in the future the researchers and authors of the study paper plan to make a sample survey research based on deeper stratification of population of Croatian businesses, so to include three sizes of companies, concerning number of employees, and to include a kind of financial measure of company’s size, e.g. the factor of yearly revenue, as well, and than it would be possible to make more detailed analysis concerning different companies' features and usage of financial risk management instruments in Croatia.instrumenti upravljanja financijskim rizicima, anketno istraživanje, hi kvadrat-test neovisnosti; Levenov test jednakosti varijanci populacija, t-test razlike aritmetičkih sredina