Sveučilište u Rijeci, Ekonomski fakultet eBooks, Nov 8, 2012
Približavanjem datumu ulaska Republike Hrvatske u Europsku uniju, katedre za financije ekonomskih... more Približavanjem datumu ulaska Republike Hrvatske u Europsku uniju, katedre za financije ekonomskih fakulteta u Hrvatskoj i regiji održale su meñukatedarski skup na Ekonomskom fakultetu Sveučilišta u Rijeci 17. lipnja 2011. godine. Na temelju provedene rasprave o aktualnoj gospodarskoj situaciji i ekonomskoj politici u Republici Hrvatskoj, regiji i Europskoj uniji te daljnjih istraživanja, objavljeni su radovi u predmetnoj znanstvenoj monografiji naslova "Financijska tržišta i institucije Republike Hrvatske u procesu uključivanja u Europsku uniju". Prezentirani radovi uglavnom se odnose na dijelove financijskog sustava kao što su depozitne i nedepozitne financijske institucije, tržišta kapitala, porezni sustav, monetarne integracije, ali se obrañuju i računovodstvene implikacije, rizici, nelikvidnost poduzeća i pitanje financiranja visokog obrazovanja u Republici Hrvatskoj i Europskoj uniji. Radovi u monografiji su namijenjeni kako studentima ekonomskih i drugih fakulteta u Republici Hrvatskoj i regiji, tako i široj znanstvenoj i stručnoj javnosti, gospodarstvu, javnom sektoru, te nositeljima ekonomske politike u Hrvatskoj. Urednici: prof. dr. sc. Zdenko Prohaska prof. dr. sc. Mira Dimitrić prof. dr. sc. Helena Blažić U Rijeci, studeni 2012.
Zbornik Radova Ekonomskog Fakulteta U Rijeci Casopis Za Ekonomsku Teoriju I Praksu, Dec 19, 2012
The doctoral dissertation successfully defended by Jurica Vukas consists of 7 chapters (225 pages... more The doctoral dissertation successfully defended by Jurica Vukas consists of 7 chapters (225 pages), a list of references used (18 pages), a list of tables and figures (4 pages) and appendix (20 pages).
Proceedings of Rijeka Faculty of Economics Journal of Economics and Business, Jun 21, 2013
The empirical research of prudential measures effectiveness is still scarce, especially for centr... more The empirical research of prudential measures effectiveness is still scarce, especially for central and southeast European countries. The aim of this paper is to analyze the effects of prudential policy on fi nancial stability of post-transition bank-oriented countries using panel data analysis approach. Using the sample of central and southeast European countries for the period 1998-2010, we found that these measures generally reduce the level of non-performing loans, increase the level of profi tability, partially affect banking system liquidity, but do not improve credit to deposit ratio. We point out two main conclusions: (1) prudential measures positively affect banking system stability expressed through fi nancial stability indicators; (2) prudential measures represent important instrument of a central bank orchestra.
Cilj ovog rada je istražiti međusobnu povezanost pojedinih performansi kao determinanti uspjesnos... more Cilj ovog rada je istražiti međusobnu povezanost pojedinih performansi kao determinanti uspjesnosti poslovanja banaka. Pod determinantama koje određuju profitabilnost banaka podrazumijevaju se: kapital banke, velicina banke, neto kamatni prihod, neto prihod od provizija i naknada, operativni troskovi te rizik banke. U prvom dijelu rada se prikazuje deskriptivna statistika svih determinanti koje određuju profitabilnost banke, dok je u drugom dijelu provedena panel analiza profitabilnosti banaka na odabranom uzorku od 18 najvecih banaka u Republici Hrvatskoj. Rezultati istraživanja pokazuju da velicina banke nužno ne utjece na profitabilnost banke, da su profitabilnije bolje kapitalizirane banke s vecim tržisnim udjelom koje efikasno upravljaju operativnim troskovima te da neto kamatna marža jos uvijek najvise utjece na neto prihode banke.
The main aim of this paper is to investigate the characteristics of Central and East European (CE... more The main aim of this paper is to investigate the characteristics of Central and East European (CEE) countries considering their choice of an intermediate target of the monetary policy strategy. A theoretical choice of the intermediate target of the monetary policy strategy refers to inflation targeting, exchange rate targeting and monetary targeting, with the latter not being a practical choice in these countries. This research tends to find out whether this choice means different economic characteristics considering macroeconomic and financial variables, and whether the choice of an individual intermediate target implies better overall economic performance. Eleven characteristics are classified for 14 chosen CEE countries, using the multivariate and multicriteria approaches. The research was conducted in four years (2005, 2007, 2009 and 2011) in order to see whether performance and ranking of countries change when taking into account the financial crisis. The results show that, when considering all 11 indicators, countries cannot be classified into two equal clusters considering the choice of the intermediate target. However, when clustering is done using foreign currency denominated loans and three forms of central bank independence, results show that countries are clustered according to our expectations, i.e., foreign currency denominated loans and two forms of central bank independence contribute to a difference between countries. Furthermore, countries were ranked considering overall economic performance, but no significant difference considering the choice of the intermediate target was found.
Sveučilište u Rijeci, Ekonomski fakultet eBooks, Nov 8, 2012
Približavanjem datumu ulaska Republike Hrvatske u Europsku uniju, katedre za financije ekonomskih... more Približavanjem datumu ulaska Republike Hrvatske u Europsku uniju, katedre za financije ekonomskih fakulteta u Hrvatskoj i regiji održale su meñukatedarski skup na Ekonomskom fakultetu Sveučilišta u Rijeci 17. lipnja 2011. godine. Na temelju provedene rasprave o aktualnoj gospodarskoj situaciji i ekonomskoj politici u Republici Hrvatskoj, regiji i Europskoj uniji te daljnjih istraživanja, objavljeni su radovi u predmetnoj znanstvenoj monografiji naslova "Financijska tržišta i institucije Republike Hrvatske u procesu uključivanja u Europsku uniju". Prezentirani radovi uglavnom se odnose na dijelove financijskog sustava kao što su depozitne i nedepozitne financijske institucije, tržišta kapitala, porezni sustav, monetarne integracije, ali se obrañuju i računovodstvene implikacije, rizici, nelikvidnost poduzeća i pitanje financiranja visokog obrazovanja u Republici Hrvatskoj i Europskoj uniji. Radovi u monografiji su namijenjeni kako studentima ekonomskih i drugih fakulteta u Republici Hrvatskoj i regiji, tako i široj znanstvenoj i stručnoj javnosti, gospodarstvu, javnom sektoru, te nositeljima ekonomske politike u Hrvatskoj. Urednici: prof. dr. sc. Zdenko Prohaska prof. dr. sc. Mira Dimitrić prof. dr. sc. Helena Blažić U Rijeci, studeni 2012.
Zbornik Radova Ekonomskog Fakulteta U Rijeci Casopis Za Ekonomsku Teoriju I Praksu, Dec 19, 2012
The doctoral dissertation successfully defended by Jurica Vukas consists of 7 chapters (225 pages... more The doctoral dissertation successfully defended by Jurica Vukas consists of 7 chapters (225 pages), a list of references used (18 pages), a list of tables and figures (4 pages) and appendix (20 pages).
Proceedings of Rijeka Faculty of Economics Journal of Economics and Business, Jun 21, 2013
The empirical research of prudential measures effectiveness is still scarce, especially for centr... more The empirical research of prudential measures effectiveness is still scarce, especially for central and southeast European countries. The aim of this paper is to analyze the effects of prudential policy on fi nancial stability of post-transition bank-oriented countries using panel data analysis approach. Using the sample of central and southeast European countries for the period 1998-2010, we found that these measures generally reduce the level of non-performing loans, increase the level of profi tability, partially affect banking system liquidity, but do not improve credit to deposit ratio. We point out two main conclusions: (1) prudential measures positively affect banking system stability expressed through fi nancial stability indicators; (2) prudential measures represent important instrument of a central bank orchestra.
Cilj ovog rada je istražiti međusobnu povezanost pojedinih performansi kao determinanti uspjesnos... more Cilj ovog rada je istražiti međusobnu povezanost pojedinih performansi kao determinanti uspjesnosti poslovanja banaka. Pod determinantama koje određuju profitabilnost banaka podrazumijevaju se: kapital banke, velicina banke, neto kamatni prihod, neto prihod od provizija i naknada, operativni troskovi te rizik banke. U prvom dijelu rada se prikazuje deskriptivna statistika svih determinanti koje određuju profitabilnost banke, dok je u drugom dijelu provedena panel analiza profitabilnosti banaka na odabranom uzorku od 18 najvecih banaka u Republici Hrvatskoj. Rezultati istraživanja pokazuju da velicina banke nužno ne utjece na profitabilnost banke, da su profitabilnije bolje kapitalizirane banke s vecim tržisnim udjelom koje efikasno upravljaju operativnim troskovima te da neto kamatna marža jos uvijek najvise utjece na neto prihode banke.
The main aim of this paper is to investigate the characteristics of Central and East European (CE... more The main aim of this paper is to investigate the characteristics of Central and East European (CEE) countries considering their choice of an intermediate target of the monetary policy strategy. A theoretical choice of the intermediate target of the monetary policy strategy refers to inflation targeting, exchange rate targeting and monetary targeting, with the latter not being a practical choice in these countries. This research tends to find out whether this choice means different economic characteristics considering macroeconomic and financial variables, and whether the choice of an individual intermediate target implies better overall economic performance. Eleven characteristics are classified for 14 chosen CEE countries, using the multivariate and multicriteria approaches. The research was conducted in four years (2005, 2007, 2009 and 2011) in order to see whether performance and ranking of countries change when taking into account the financial crisis. The results show that, when considering all 11 indicators, countries cannot be classified into two equal clusters considering the choice of the intermediate target. However, when clustering is done using foreign currency denominated loans and three forms of central bank independence, results show that countries are clustered according to our expectations, i.e., foreign currency denominated loans and two forms of central bank independence contribute to a difference between countries. Furthermore, countries were ranked considering overall economic performance, but no significant difference considering the choice of the intermediate target was found.
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