ODNOS KRETANJA TRŽIŠNIH CIJENA DIONICA I INTENZITETA KORPORATIVNE KONTROLE U HRVATSKIM PODUZEĆIMA

master's thesis

• Title (english): RELATION BETWEEN THE DEVELOPMENT OF MARKET PRICES OF SHARES AND THE INTENSITY OF CORPORATE CONTROL IN CROATIAN COMPANIES
• Author: Marin Jurjević
• Mentor: Domagoj Hruška (mentor); MBZ: 262253
• Committee member: Darko Tipurić (predsjednik povjerenstva); MBZ: 206214
• Committee member: Lana Cindrić (član povjerenstva); MBZ: 367162
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Organization and Management); Zagreb
• Defense date and country: 2021-04-08, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Organization and Management

Abstract

Tema ovog rada bavi se korporativnim upravljanjem, preciznije odnosom kretanja tržišnih
cijena dionica i intenziteta korporativne kontrole u hrvatskim poduzećima. Prvo je definirano
korporativno upravljanje kao pojam te elementi korporativne kontrole. Razrađeni su i otvoreni
i zatvoreni sustav korporativne kontrole. Mehanizmi korporativnog upravljanja objašnjeni su i
podijeljeni na interne i eksterne mehanizme korporativnog upravljanja. U trećem poglavlju
detaljnije je razrađeno tržište za korporativnu kontrolu kao mehanizam korporativnog
upravljanja. Daljnji dio trećeg poglavlja bavi se tržištem kapitala, objašnjava pojmove
vrijednosnih papira te metode određivanja cijene dionica kao vlasničkih vrijednosnih papira.
Zadnje poglavlje rada bavi se analizom odnosa kretanja tržišnih cijena dionica i intenziteta
korporativne kontrole u hrvatskim poduzećima sastavnicama CROBEX10 indeksa Zagrebačke
burze. Istražio se odnos kretanja vlasničke koncentracije najvećeg dioničara i kretanja cijene u
razdoblju od 5 godina. Istraživanjem je utvrđeno kako je odnos kretanja vlasničke
koncentracije i cijene dionice u sustavu zatvorenog korporativnog upravljanja slab, a tržište za
korporativnu kontrolu djeluje jako malo ili uopće ne djeluje.

Abstract (english)

The topic of this paper deals with corporate governance, more precisely the relationship
between the movement of market share prices and the intensity of corporate control in Croatian
companies. First, corporate governance is defined as a concept and elements of corporate
control. Both open and closed corporate control systems have been elaborated. Corporate
governance mechanisms are explained and divided into internal and external corporate
governance mechanisms. The third chapter elaborates on the market for corporate control as a
mechanism of corporate governance. The further part of the third chapter deals with the capital
market, explains the concepts of securities and methods of determining the price of shares as
equity securities. The last chapter deals with the analysis of the relationship between the
movement of market share prices and the intensity of corporate control in Croatian companies
that are components of the CROBEX10 index of the Zagreb Stock Exchange. The relationship
between the movement of ownership concentration of the largest shareholder and the
movement of price over a period of 5 years was investigated. The research found that the
relationship between the movement of ownership concentration and the share price, in a closed
corporate governance system, is weak, and the market for corporate control has very little or
no effect at all.

• Keywords: korporativna kontrola; vlasnička koncentracija; tržište za korporativnu kontrolu
• Keywords (english): corporate control; ownership concentration; market for corporate control
• Language: croatian
• URN:NBN: urn:nbn:hr:148:338403
• Study programme: Title: Economics; Study programme type: university; Study level: integrated undergraduate and graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2021-04-08 12:37:15