EXAMINING ENTREPRENEURIAL ORIENTATION – PERFORMANCE RELATIONSHIP AMONG CROATIAN SERVICE SMES

The relationship between entrepreneurial orientation and business performance has been widely researched. However, in scientific literature there is still a need for further clarification when observing the before mentioned concepts, especially within the service SME context. Likewise, when observing this relationship it is necessary to look into the impact of entrepreneurial orientation on individual segments of business performance, i.e. on financial and non-financial constructs. Therefore, the aim of this paper is to explore the association of entrepreneurial orientation and small and medium business performance, while observing performance both as unidimensional and multidimensional concept. Furthermore, the paper tests whether moderation effect of external environment exists between entrepreneurial orientation and business performance among Croatian service SMEs.

2020. – GODINA ŠOKOVA – PROCJENA UČINAKA NA CIJENE STANOVA U HRVATSKOJ

Protekla je godina (2020.) obilježena šokovima koji su u različitim sferama uzdrmali hrvatsko gospodarstvo. U prvom redu, covid-19 pandemija i mjere potpunog/parcijalnog zaključavanja gospodarstva prvotno su usporile ekonomsku aktivnost, a potom i rezultirale rekordno negativnim stopama rasta BDP-a. Neposredno nakon proglašenja svjetske pandemije, glavni grad Hrvatske pogođen je još jednim nepredviđenim šokom u obliku snažnog potresa. U ovom radu procjenjuju se učinci navedenih događaja na cijene stanova na razini Hrvatske, ali i pojedinih regija (Zagreb, Jadran i ostalo). Usporedno se procjenjuje i učinak subvencioniranja stambenih kredita koji nije vezan isključivo za 2020. Hedoničkim modelom procjene traženih i postignutih cijena stanova utvrđeno je kako pandemija nije značajno povezana s kretanjima cijena stanova, dok se subvencije na stambene kredite mogu dovesti u vezu s rastom cijena na pojedinim segmentima tržišta. Dodatno, potres u Zagrebu je, prema rezultatima procjene, moguće povezati s rastom cijena na segmentu novije izgrađenih stanova.

THE DRIVERS OF VOLUNTARY PRIVATE HEALTH INSURANCE DEMAND IN EUROPEAN COUNTRIES

During the pandemic, health care services have gained in importance. One of the ways used to finance these services is through voluntary private health insurance. Existing studies on the demand for voluntary private health insurance are based predominantly on the micro-economic level. Therefore, the aim of this paper is to analyse the factors of demand at the macro-economic level. The analysis covers economic and demographic factors, the quality of the public health care system, risk aversion and the status of the population’s health. The empirical research is based on the databases of 29 European countries in the period from 2013 to 2017 and on the dynamic panel model. The results of the empirical analysis revealed that income, price, urbanization, health care system quality, risk aversion/education and self-perceived health are important determinants of demand for voluntary private health insurance in European countries.

ODREDNICE I ZNAČAJ STILOVA HUMORA: PERSPEKTIVA TEORIJE KONTROLE IDENTITETA

Glavna je svrha rada kroz prizmu teorije kontrole identiteta istražiti pozitivne (afilijativni i samopomažući) i negativne (agresivni i samoporažavajući) stilove humora te odrednice identiteta (demografske karakteristike, konformizam, inovativnost, jedinstvenost) kao prediktore i namjeru kupovine kao ishod stilova humora. Istraživanje je provedeno na prigodnom uzorku od 253 ispitanika, pri čemu se podaci analiziraju s pomoću regresijske analize. Rezultati pokazuju da je spol povezan s agresivnim stilom humora, a dob uglavnom s agresivnim i samoporažavajućim stilovima humora. Nadalje, konformizam potrošača negativno je povezan s afilijativnim, a pozitivno s agresivnim i samoporažavajućim stilovima humora. Inovativnost potrošača pozitivno utječe samo na agresivni stil, dok je jedinstvenost potrošača pozitivno povezana sa samopomažućim i samoporažavajućim stilovima humora. Za namjeru kupovine od pozitivnog su značenja i pozitivni i negativni stilovi humora, i to jedino samopomažući i agresivni stil humora. Razmatrani konstrukti i veze predstavljaju nove spoznaje općenito te posebice u okviru teorije kontrole identiteta, i kao takvi imaju vrijedne znanstvene i praktične implikacije.

SOCIAL MEDIA MARKETING AND PURCHASE INTENTION: EVIDENCE FROM KOSOVO

The main objective of this study was to explore the relationship of social media marketing and purchase intention among consumers in Kosovo as a transition economy. The study used a structured questionnaire to collect the primary data and collected a sample of 334 responses from participants in Kosovo, using google forms as an online survey tool. In order to test the proposed research model, structural equation modelling was used. The hypotheses and the mediating effects of brand awareness and brand engagement were tested using the bootstrapping method. The findings revealed a positive indirect impact of social media marketing on purchase intention. They also showed that brand engagement fully mediates the relationship between social media marketing and purchase intention, whereas brand awareness does not mediate the relationship between social media marketing and purchase intention. This study contributes to the literature by providing insights of the impact of social media marketing on brand awareness, brand engagement, and purchase intention in transition economy such as Kosovo. On a practical level, research results provide companies with customer insights relevant to designing effective social media marketing strategies for their potential prospects in transition economies.

PREDICTING NPLs FOR CROATIA WITH MACROECONOMIC VARIABLES

This paper aims to examine some of the macroeconomic drivers of nonperforming loans (NPL) in Croatia. Unemployment rate, industrial production index, construction works volume and the number of tourist arrivals were evaluated as the drivers on a quarterly data sample from 2008q4 to 2020q4. Following quantile regression approach, unemployment rates and construction works volume appeared as significant drivers of NPL in Croatia. Furthermore, empirical findings from this paper suggest asymmetric effects on NPL from its drivers. While decrease in construction works volume and increase in unemployment rates were found to correspond with increase in NPL, an increase in construction works volume and decrease in unemployment rates were not correlated with decrease in NPL. Consequently, the paper brings implications for credit institutions in Croatia within the context of COVID-19 pandemic crises.

UTJECAJ PRODUKTIVNOSTI NA IZVOZNU I DOMAĆU USPJEŠNOST 300 NAJVEĆIH HRVATSKIH IZVOZNIKA

Ovim radom uspoređuju se različite mjere produktivnosti i istražuje se njihov utjecaj na prihod od izvoza i prihod na domaćem tržištu 300 najvećih hrvatskih izvoznih poduzeća. Regresijska dinamička dvorazinska robusna GMM panel analiza provedena je na uzorku 300 najvećih hrvatskih izvoznih poduzeća prema prihodu od izvoza u periodu od 2006. do 2015. na temelju financijskih godišnjih podataka poduzeća. Pokazatelji produktivnosti poduzeća uključuju: ukupnu produktivnost faktora proizvodnje, produktivnost rada, produktivnost kapitala, povrat na uloženi kapital te povrat na imovinu. Rezultati rada pokazali su kako ukupna faktorska produktivnost, produktivnost kapitala i povrat na imovinu imaju pozitivan utjecaj na prihode od izvoza. Produktivnost rada nema značajan utjecaj na prihod od izvoza. S druge strane, svih pet pokazatelja produktivnosti imaju značajan utjecaj na prihode na domaćem tržištu. Važnost je ovog rada dvojaka. Njime se potvrđuje važnost produktivnosti za izvoznu uspješnost najvećih hrvatskih izvoznih poduzeća, prvenstveno produktivnosti kapitala. Posljedično, analizom se potvrđuje nužnost povećanja produktivnosti rada zbog povezanosti produktivnosti rada i kapitala. Iako je analiza ograničena na razdoblje 2006. – 2015, ona jasno ukazuje na prelijevanje inozemne financijske krize 2008. na poslovanje hrvatskih poduzeća 2009.

DOES SOCIAL NETWORK QUALITY DIFFER BETWEEN FACEBOOK AND INSTAGRAM? APPLICATION OF SNSQUAL MODEL

Although numerous studies investigated service quality in online environment, the social network quality has been inadequately captured by previous empirical research. Thus, the present study focuses on measuring social network quality. Specifically, it aims to examine potential differences in perceived social network quality between two popular social networks, namely Facebook and Instagram. The empirical data are based on gathering primary data using questionnaire based on SNSQUAL model, developed by Phillips et al. (2016). Descriptive and bivariate statistical analysis were conducted using data collected from undergraduate and graduate students who use social networks on regular bases. The study results show significant differences in 16 out of 27 social network quality items, revealing that Instagram’s social network quality was rated significantly higher than Facebook’s. These findings may contribute to the development of service excellence approach that aims to enhance social networks’ performance.

POZNAVANJE KONCEPTA KRUŽNE EKONOMIJE U GRAĐEVINSKOM SEKTORU

Građevinska industrija dugi niz godina posluje prema principu linearne ekonomije koja na svojem kraju ostavlja otpad kao zadnji proizvod. Značajan porast cijena, povećana nestabilnost globalnih robnih tržišta i štetni nusproizvodi doveli su do preispitivanja takve ekonomije u pogledu potrošnje sirovina i energije. Kružna ekonomija (engl. Circular Economy) predstavlja novi ekonomski model koji nastoji odvojiti ekonomski rast i razvoj od potrošnje ograničenih resursa. U građevinskom sektoru prijelaz s linearne na kružnu ekonomiju zahtijeva usredotočenost na složeno i sistematično razmišljanje održivosti i korištenja obnovljivim materijalima, uzimajući u obzir cjelokupan životni vijek građevine i građevinski lanac vrijednosti. Kružna ekonomija temelji se na principu kruženja materijala u procesu korištenja i nestvaranju novog, nepotrebnog otpada na osnovi aktivnosti kojima se korištenim materijalima „vraćaju“ njihova svojstva te oni i dalje ostaju u uporabi. Cilj je ovog rada ispitati poznavanje i primjenu koncepta kružne ekonomije u građevinskom sektoru Republike Hrvatske na temelju postojećih okvira na europskoj i nacionalnoj razini te identificirati pokazatelje cirkularnosti. U tu svrhu provedeno je istraživanje s pomoću anketnog upitnika koje je pokazalo kako su zaposleni u građevinskim poduzećima, primarno u sektoru visokogradnje, još uvijek nedovoljno upoznati s pojmom kružne ekonomije, ali je istaknulo koji pokazatelji cirkularnosti u građevinarstvu mogu biti važni za definiranje budućih okvira i smjernica te poslovnih strategija građevinskih poduzeća u kontekstu kružnoga gospodarstva.

ORGANIZATIONAL AND PROFESSIONAL COMMITMENT: EVIDENCE FROM CROATIA

The aim of this study was to explore organizational and professional commitment among Croatian employees, as well as to find out whether there were any differences in those commitments regarding employees’ demographic characteristics. The empirical research was conducted online in January 2021. The questionnaire was distributed online using convenience sampling method, which is a non-probability sampling method that involves participants from population who are available to participate in the study. The number of participants was 153. Research results indicated that respondents were slightly more professionally than organizationally committed. By observing each organizational and professional commitment dimension, research results showed that the level of professional affective commitment stood out, while the level of normative commitment, both organizational and professional, was the lowest. Additionally, research results showed that there were no statistically significant differences in the mean value of organizational commitment as well as of professional commitment regarding any of the respondents’ demographic characteristics (gender, age, tenure in the organization, education and marital status).