Access restricted to higher education institution's students and staff
master's thesis
THE FUNCTIONING OF THE CAPITAL MARKET IN THE REPUBLIC OF CROATIA

Ana Majdenić (2016)
Metadata
TitleFunkcioniranje tržišta kapitala u Republici Hrvatskoj
AuthorAna Majdenić
Mentor(s)Dubravka Pekanov Starčević (thesis advisor)
Abstract
Tema ovog diplomskog rada je funkcioniranje tržišta kapitala u Republici Hrvatskoj. Karić (2010) ističe da tržište kapitala obuhvaća sve ustanove (investicijske fondove, burze, banke, osiguravatelje i dr.) koje sudjeluju u izdavanju i plasiranju dugoročnih vrijednosnica (dionica i obveznica) i zajmova investitorima ili na drugi način utječu na njihovu ponudu i potražnju. Putem tržišta kapitala financijske ustanove prenose (transferiraju) kumuliranu štednju investitorima, a trgovačka društva pribavljaju trajni kapital za financiranje ulaganja (investicija) u objekte, opremu i druge trajne resurse. Tržište kapitala u Republici Hrvatskoj posljednjih godina doživjelo je brojne promjene. Veliki pomaci u razvoju tržišta kapitala su: spajanje Zagrebačke i Varaždinske burze, uvođenje novog sustava trgovanja odnosno tehnološke promjene, povećana uloga i opseg djelovanja nadzorne agencije. Visoka nelikvidnost tržišta je prepreka daljnjem razvoju tržišta kapitala iako ima pozitivnih pomaka. Nedostatak stabilnih i visokih dnevnih prometa, postajanje brojnih izrazito nelikvidnih dionica, mogućnost utjecaja na cijenu pri velikim transakcijama i visoka volatilnost cijena dionica karakteristika su nelikvidnosti tržišta. Visoka likvidnost obilježje je razvijenih tržišta kapitala. Ona omogućuje izvršavanje transakcija značajnih količina uz vrlo mali utjecaj na cijenu. Na razvoj hrvatskog tržišta kapitala te ubrzanog razvoja investicijskih fondova u velikoj mjeri utjecale su europske odluke, a na oživljavanje tržišta vrijednosnih papira i razvoja burzovnog poslovanja pozitivno je djelovao odljev kapitala iz banaka s područja relativno niskih prinosa u aktivu investicijskih fondova. Zakonom o tržištu kapitala i Zakonom o preuzimanju dioničkih društava u Republici Hrvatskoj uređeno je tržište kapitala kao i djelokrug i nadležnost Hanfe.
Keywordscapital market market illiquidity Capital Market Act
Parallel title (English)THE FUNCTIONING OF THE CAPITAL MARKET IN THE REPUBLIC OF CROATIA
Committee MembersDubravka Pekanov Starčević (committee chairperson)
Martina Briš Alić (committee member)
Đula Borozan (committee member)
GranterSveučilište Josipa Jurja Strossmayera u Osijeku
Ekonomski fakultet u Osijeku
Lower level organizational unitsKatedra za financije i računovodstvo
PlaceOsijek
StateCroatia
Scientific field, discipline, subdisciplineSOCIAL SCIENCES
Economics
Finance
Study programme typeuniversity
Study levelgraduate
Study programmeFinancial Management
Academic title abbreviationmag.oec.
Genremaster's thesis
Language Croatian
Defense date2016-09-22
Parallel abstract (English)
Topic of this thesis is the functioning of the capital market in Croatia. Karic (2010) highlights that capital market includes all institutes (investment funds, Stock Excange, banks, insurers and others) participating in the issuance and placement of long-term securities (stocks and bonds) and loans to investors or otherwise affect their supply and demand. Through the capital market financial institution transfers (transferred) the cumulative savings to investors and companies obtain permanent capital to finance investments (investment) in facilities, equipment and other permanent resources. The capital market in Croatia has undergone a number of changes. Great progress in the development of the capital market are: connecting Zagreb and Varazdin Stock Exchange, the introduction of a new trading system and technological change, the increasing role of the scope of the supervisory agencies. High insolvency of the market is an obstacle to the further development of the capital market, although there are positive developments. The lack of stable and high daily traffic, becoming numerous highly illiquid shares, the power to determine prices for large transactions and high volatility in share prices characteristic of the illiquidity of the market. High liquidity is a feature of developed capital markets. It allows the execution of transactions of significant amounts with very little impact on prices. The development of the Croatian capital market and the rapid development of investment funds largely influenced European decisions, and the revival of the securities markets and the development of the stock market business had a positive impact outflow of capital from banks in the field of relatively low yields in the assets of investment funds. Capital Market Act and The law on the adoption of joint stock companies in Croatia is regulated by the Capital Market as well as the scope and jurisdiction of HANFA.
Parallel keywords (Croatian)tržište kapitala nelikvidnost tržišta Zakon o tržištu kapitala
Resource typetext
Access conditionAccess restricted to higher education institution's students and staff
Terms of usehttp://rightsstatements.org/vocab/InC/1.0/
URN:NBNhttps://urn.nsk.hr/urn:nbn:hr:145:167125
CommitterGordana Kradijan