20 Years of the Croatian Capital Market (CROSBI ID 240190)
Prilog u časopisu | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Grubišić Šeba, Mihaela
engleski
20 Years of the Croatian Capital Market
From 1990s to the end of 2006 there have been two stock exchanges in Croatia – an official stock exchange in Zagreb and a so-called alternative capital market in Varaždin. The Zagreb stock exchange had a dominant role in the Western Balkan region until 2008, when its market capitalisation significantly decreased because of the influence of the global financial crisis and the economic downturn of the country. This paper analyses gradual regulatory and institutional development of the Croatian capital market, emergence and strengthening of institutional investors and assets under their management, key market development indicators related to market supply and demand and investor protection mechanisms. The research presented in this paper has shown the crucial role of regulation in attracting investors and sustaining their presence in the market. It also recommends more active role of regulation and stock exchange towards the issuers and small investors to encourage constant supply of corporate securities.
capital market ; regulation ; corporate governance ; investor protection ; Croatia
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Podaci o izdanju
20 (1)
2017.
41-58
objavljeno
1331-5609
1849-1162
10.1515/zireb-2017-0004
Povezanost rada
Ekonomija