Suchergebnisse

Nedavna financijska kriza je istakla potrebu razmatranja zašto su neke firme i ekonomije ugroženije, dok su druge otpornije na krizu i kako različite financijske karakteristike poduzeća mogu utjecati na rast poduzeća. S ciljem empirijskog istraživanja ovih pitanja, analizirali smo odrednice korporativnog rasta tijekom kriznog i post-kriznog perioda (2008. – 2013.) na uzorku od 10 zemalja srednje i istočne Europe koje pripadaju dvjema različitim regionalnim grupama – "Višegradska četvorka" i grupi zemalja bivše Jugoslavije. Naša analiza obuhvaća uzorak od 3,660 opažanja. Rast poduzeća razmatran je kao funkcija dvije makro varijable (inflacija i likvidnost tržišta kapitala) i četiri varijable povezane s karakteristikama poduzeća (financijska poluga, obrt imovine, profitna marža i odnos između novčanog toka i imovine). Istraživanje ukazuje na značaj infrastrukturnih preduvjeta i makroekonomske politike za rast poduzeća u kriznim uvjetima poslovanja. Naši rezultati također ističu specifičan odnos između financijske poluge i rasta tijekom kriznog perioda, pri čemu se utjecaj financijske poluge analizira kao sveobuhvatan rezultat stupnja zaduženosti poduzeća, razine razvoja tržišta kapitala, položaja bankarskog sektora i cijene duga. Konačno, naši rezultati ukazuju na intrigantnu prirodu veze između profitabilnosti i rasta, kao i između učinkovitosti upravljanja imovinom i rasta poduzeća u kriznim periodima. ; The recent financial crisis has underlined the necessity to recognize why some firms and economies are more severely affected while others are more resilient to crisis and how different financial characteristics affect firms' growth path. In order to explore these issues empirically, we reexamine the determinants of corporate growth during the crisis and post-crisis period (2008-2013) on the sample of 10 Central and East European countries belonging to two different regional groups – "Visegrad four" and the group of former Yugoslavian countries. Our analysis covers the sample of 3,660 firm-year observations. We model firm growth as a function of two country-specific variables (inflation and capital market liquidity) and four company-specific variables (financial leverage, asset turnover, profit margin and ratio between cash flow and assets). Our study indicates the importance of infrastructure prerequisites and macroeconomic policies for the companies' growth in the conditions of crisis. Our results reveal a specific relation between leverage and firm growth during the crisis period, whereby the impact of leverage is perceived by a comprehensive result of the degree of firm indebtedness, the level of capital market development, the position of banking sector and the cost of debt. Finally, our results show some intriguing patterns in firm profitability – growth as well as asset efficiency – growth relation.

Naš plan istraživanja će se usredotočiti na tri ključna elemen- ta. Prvi element je sam pojam krize; drugi je nit istraživanja, a to je socijalni nauk Katoličke crkve o krizi; treći je istraživanje konkret- nog slučaja, naime Katoličke Crkve u Portugalu te praktične primjene crkvenog nauka u vremenu krize. Kako bismo bolje razumjeli o čemu je riječ, ponajprije ćemo progovoriti o specifičnom kontekstu (suvreme- no post-industrijsko društvo) te o specifičnom povijesnom razdoblju (od kraja 19. st. do danas).Drugo, naš će govor biti u svezi s nekim neovisnim čimbenicima, poput financijskog, ekonomskog, političkog, kulturnog i antropološkog okvira u kojemu se nalazi moderno društvo. Treće, dijakronička i sinkronijska analizu mnogostrukih i neistraže- nih crkvenih prvotnih izvora omogućit će nam dublju spoznaju razvo- ja fenomena krize, razumijevanje njezinih posljedica, kao i tumačenje onoga što Crkva predlaže kao pomoć u nadvladavanju krize. Napo- kon, kako bismo dali dodatnu važnost našem istraživanju, fokusirat ćemo se na Portugal kako bismo vidjeli kako je, u kontekstu duboke društveno-ekonomske krize, Crkva djelovala u promicanju i praktici- ranju nove humanističke sinteze koja smješta čovjeka kao cilj i sredi- šte cjelokupnog društveno-ekonomskog života. ; Our research plan will focus on three key elements: one con- cept- the crisis; one research thread- the social doctrine of the Cat- holic Church on the crisis; one case study- the Portuguese Catholic Church and practical application of theology in the face of crisis. First, we will try to comprehend our dependent variable by inserting it in a specific context (contemporary post-industrial societies) and in a specific period of time (since the late XIX century until today). Secondly, we will make it interact with some independent variables such as the financial, economic, political, cultural and anthropologi- cal framework of modern societies. Thirdly, throughout a diachronic and synchronic analysis of the Church's multiple and unexplored primary sources we will be able to observe the evolution of the phe- nomenon, understand its modern consequences, and interpret the Church's proposition to overcome the crisis. Finally, in order to give greater substance to our research, we will focus on Portugal to see how, in a context of profound socio-economic crisis, the Chur- ch has been acting with a view to promoting and practicing a new humanistic synthesis that places man as the aim and centre of all socio-economic life.

Čovjek je neodvojiv od ostaloga stvorenja bez kojega se ne može misliti. Na ovu goruću problematiku upućuju brojni pokreti, građanske inicijative kao i političke stranke koje u svoje statute ugrađuju brigu za okoliš i odgovorno ponašanje. Rad polazi od suvremene antropologije koja predstavlja temelj krivoga razumijevanja stvorenoga svijeta, odnosno opasnost od izrabljivanja njegovih potencijala. Naime, sve je pogubnija novovjekovna koncepcija koja je izrodila dogmatičnu ideju antropocentrizma. Ugrozu predstavlja i ideja biocentrizma koja krči put do praktična ostvarenja ravnopravnosti svih oblika života. Toliko potrebno ekološko obraćenje treba uključiti opću solidarnost kao i integralnu ekologiju u kojoj Franjo Asiški može poslužiti kao zaštitnik i svjedok. Obnovljeni bioetički edukacijski sustav pak ne smije isključiti duhovno umijeće vladanja. Valja graditi globalnu ekološku pismenost koja će osobito naglasiti djelovanje čovjeka na životnu sredinu u različitim fazama i dimenzijama. ; A man is inseparable from the other creature without which it is impossible to think. This burning issue is pointed out by many movements, civil initiatives as well as political parties which incorporate care for the environment and responsible behavior into their statutes. The paper starts with the contemporary anthropology which represents the foundation of the wrong understanding of the created world or danger from exploitation of its potentials. Namely, modern conception that created a dogmatic idea of anthropocentrism is becoming more ruinous. The idea of biocentrism, which clears the way to practical realization of all forms of life equalities, also represents a danger. That much-needed ecological conversion should include general solidarity as well as integral ecology in which Francis of Assisi can serve as a protector and witness. Renewed bioethical educational system cannot exclude spiritual art of behavior. Global ecological literacy should be built in order to emphasize the effect of a man on the environment in different phases and dimensions.

Pandemijska kriza uzrokovala je mnoge izazove na globalnoj razini. Europska unija pokušala je pravovremeno i optimalno odgovoriti na neke od izazova koji su zahvatili njezino područje, a autorica je uočila sljedeće: ekonomski pad; kriza zdravstvenog sektora; nepostojanje cjepiva; smanjenje mobilnosti građana unutar i izvan državnih granica; širenje dezinformacija te pitanje očuvanja europskih vrijednosti i propadanja demokracije. Uz to što će prikazati reakciju EU na pojedine izazove u 2020. godini, analizirat će i strategije triju država članica koje su primijenile različite pristupe borbi protiv virusa – strategiju Njemačke, Švedske i Mađarske. Autorica će doći do zaključka da je EU uspješno odgovorila na jedan dio navedenih izazova, dok je na drugi dio ipak mogla čvršće reagirati. U borbi s izazovima nije pomogla niti različitost strategija država članica, a neke od njih pronašle su i nove saveznike izvan EU. ; The pandemic crisis has caused many challenges on a global level. The European Union tried to respond in a timely and optimal manner to some of the challenges that affected its area, and the author detected the following: economic decline; health sector crisis; lack of vaccine; reducing the mobility of citizens inside and outside national borders; spreading misinformation and the issue of preserving European values and the decline of democracy. In addition to showing the EU's response to certain challenges in 2020, the strategies of the three member states that have applied different approaches to fighting the virus - strategies of Germany, Sweden and Hungary - will be analyzed. The author will come to the conclusion that the EU has successfully responded to one part of these challenges, while it could have reacted more strongly to the other part. The various strategies of the member states did not help in the fight against the challenges, and some of them even found new allies outside the EU.

The paper is analysing the influence of international institutions on social policy creation in Bosnia and Herzegovina since the beginning of the economic crisis in 2008. The first section gives an overview of the relevant literature, followed by a presentation of socio – economic factors that led to international credit agreement, reform agenda and actual implementation of social protection reforms. Through the analysis of proclaimed social protection objectives and their implementation by local institutions in the Federation of Bosnia and Herzegovina, an assessment of the achieved results is done in the light of realised savings and better targeting of social transfers. The paper sheds some light on inconsistent policy of both international institutions and government actors in Bosnia and Herzegovina. Hence, despite the proclaimed reform objectives, the system of social protection based on status rights which is fiscally unsustainable, and poorly targeted towards the poor still remains largely unchanged. ; Rad se bavi analizom utjecaja međunarodnih institucija na socijalnu politiku u Bosni i Hercegovini od početka ekonomske krize 2008. godine. U prvom se dijelu rada daje pregled relevantne literature, zatim se prezentiraju socio-ekonomski čimbenici koji su doveli do sklapanja međunarodnog kreditnog aranžmana, reformski ciljevi i način implementacije reformi sustava socijalne zaštite. Kroz analizu proklamiranih ciljeva reforme socijalne zaštite te njihovu implementaciju od strane lokalnih institucija u Federaciji Bosne i Hercegovine analiziraju se stvarni učinci s aspekta ostvarenih ušteda i bolje ciljanosti socijalnih transfera. Rad ukazuje na nedosljednost politike kako međunarodnih institucija u Bosni i Hercegovini tako i vladinih aktera. Unatoč proklamiranim ciljevima reforme, sustav socijalne zaštite temeljen na statusnim pravima fiskalno je neodrživ te loše ciljan prema siromašnima, ali i dalje ostaje nepromijenjen.

The paper examines the role of social protection and social expenditure in the financial and economic crises. Accordingly, the objective of the paper was to analyse the trends in social expenditure developments in EU countries since the beginning of the last economic crisis (2008), examine changes in the composition of social protection spending during and following the crisis, and analyse the effectiveness of social protection schemes during and following the crisis in terms of poverty rate reduction. The paper confirmed that social protection expenditure has increased in almost all EU countries since the beginning of the crisis and that in the crisis most countries rely on redistributive effects of the so-called automatic stabilizers. Social expenditure developments during and following the crisis and the effectiveness of social protection in alleviating consequences of the crisis are related to the features of social protection models (regimes). Countries with larger social sectors are coping with the crisis more successfully. Economic, financial and social crises may induce changes in the social protection system. The crisis is an opportunity for countries with low social expenditure to widen the coverage of social schemes, set up new schemes or increase the level of benefits. As inappropriate crises management models fuel poverty and unemployment, and decrease economic growth, it is important to define the role of social protection/welfare state in a crisis management strategy. Among other things, a solution is to strengthen an approach where social expenditure is seen as social investments which may revitalize the role of social protection in the economic development. ; U radu se propituje uloga socijalne zaštite i socijalnih troškova u financijskim i ekonomskim krizama. Stoga je cilj rada bio istražiti trendove vezane za izdatke socijalne zaštite od početka posljednje ekonomske krize (2008.) u zemljama EU-a, istražiti promjene u strukturi troškova socijalne zaštite u kriznom i postkriznom razdoblju te analizirati učinkovitost programa socijalne zaštite u kriznom i postkriznom razdoblju s aspekta zaštite od siromaštva. Rad potvrđuje da su gotovo sve zemlje EU-a povećale troškove socijalne zaštite od početka krize te da se većina zemalja u krizi oslanja na redistributivne učinke tzv. automatskih stabilizatora. Obrasci kretanja izdataka socijalne zaštite u krizi i postkriznom razdoblju te učinkovitost socijalne zaštite u ublažavanju negativnih učinaka krize povezani su s obilježjima pojedinih modela (režima) socijalne zaštite. Zemlje s većim socijalnim sektorom uspješnije se nose s krizom. Ekonomske, financijske i socijalne krize mogu potaći promjene u socijalnoj zaštiti. Kriza je prigoda da zemlje s nižim troškovima socijalne zaštite prošire obuhvat programa, uvedu nove programe ili povećaju visinu naknada. S obzirom da loše upravljanje krizama samo povećava siromaštvo, nezaposlenost i smanjuje ekonomski rast, važno je definirati ulogu socijalne zaštite/države u okviru strategija upravljanja krizom. Među ostalim, rješenje je u pristupu koji u socijalnim izdacima vidi socijalne investicije koje mogu revitalizirati ulogu socijalne politike u ekonomskom razvoju.

This article will explain why Russia annexed Crimea and is destabilizing eastern Ukraine. To do this, three different theoretical approaches on various levels of analysis will be used. It will be examined how far the expansion of NATO, as well as that of the European Union (Theory of Neorealism), was a motive for Russia's action. NATO's enlargement is analysed predominantly. In addition, politicalpsychological motivations of the Russian leadership are considered. But it is also analysed whether Russia's pure power interests have played a role (Theory of Realism). The focus here is on the Russian naval base in Crimea. It is necessary to examine whether preserving its fleet in the Black Sea was a motive for Moscow to annex the Crimean peninsula. ; This article will explain why Russia annexed Crimea and is destabilizing eastern Ukraine. To do this, three different theoretical approaches on various levels of analysis will be used. It will be examined how far the expansion of NATO, as well as that of the European Union (Theory of Neorealism), was a motive for Russia's action. NATO's enlargement is analysed predominantly. In addition, politicalpsychological motivations of the Russian leadership are considered. But it is also analysed whether Russia's pure power interests have played a role (Theory of Realism). The focus here is on the Russian naval base in Crimea. It is necessary to examine whether preserving its fleet in the Black Sea was a motive for Moscow to annex the Crimean peninsula.

One of the central notions of the post-Yugoslav literature is the status of democracy in national states formed after the breakup of Yugoslavia. From the perspective of the exile, not only as banishment, but also as a liberating outside view into the once common social, cultural and political space, the post-Yugoslav writers question the social democracy praxis in their former home states comparing it to the social practices in the states of their current residence. In her books of essays, Dubravka Ugrešić ironizes different forms of social ideology in Croatia from the beginning of nineteen-nineties. Her writing recognizes the standards of European democracy accompanied with the ideological view into the questions of social rights, religion and language as the stumbling block of modern society. Ugrešić describes democracy as a notion hiding different things: the praxis of ruthless capitalist exploitation, loss of media freedom, media manipulation, the censorship of corporate capitalism, production of lies, modern slavery. (Don't take it personal, 2014), validating in her essays the importance of literature in disclosure of autocracy masked as democracy. ; One of the central notions of the post-Yugoslav literature is the status of democracy in national states formed after the breakup of Yugoslavia. From the perspective of the exile, not only as banishment, but also as a liberating outside view into the once common social, cultural and political space, the post-Yugoslav writers question the social democracy praxis in their former home states comparing it to the social practices in the states of their current residence. In her books of essays, Dubravka Ugrešić ironizes different forms of social ideology in Croatia from the beginning of nineteen-nineties. Her writing recognizes the standards of European democracy accompanied with the ideological view into the questions of social rights, religion and language as the stumbling block of modern society. Ugrešić describes democracy as a notion hiding different things: the praxis of ruthless capitalist exploitation, loss of media freedom, media manipulation, the censorship of corporate capitalism, production of lies, modern slavery. (Don't take it personal, 2014), validating in her essays the importance of literature in disclosure of autocracy masked as democracy.

Na temelju teza Hannah Arendt i posebno Judith Butler, u tekstu se promišlja o "krizi" u suvremenoj umjetnosti u uvjetima ideološke prekarizacije. Postoje li savezništva u razmišljanju i djelovanju? Metodom slobodne navigacije kroz recentnu umjetničku praksu nailazi se na geste koje je moguće dovesti u vezu s oblicima savezništva, zajedništva i prijateljstva. ; Based on Hannah Arendt's thesis, and especially Judith Butler's body of work, the paper examines "the crisis" in contemporary art under the conditions of precarization. Are there any alliances in thought or action? By using the method of free navigation through recent art practices, it is possible to find gestures which can be associated with forms of alliances, community and friendship.

Autor analizira simptome krize demokracije u Europi koncentrirajući se na tri skupine simptoma: u prvom redu na simptome krize u tranzicijskim zemljama koje su ušle u članstvo Europske unije u okviru petog proširenja; jedan je od glavnih indikatora te krize slab odaziv glasača iz tranzicijskih zemalja na izbore za Europski parlament godinu dana nakon ulaska u članstvo EU-a. Razlog tog podbačaja autor vidi u razočaranosti demokracijom i tranzicijom te u formalnom udovoljenju kopenhaškim kriterijima, uslijed čega su odmah nakon ulaska u EU nove zemlje članice svoju zadaću demokratizacije smatrale dovršenom.Drugi je simptom krize negativan ishod referenduma za ratifi kaciju ugovora kojim se uspostavlja Ustav za Europu u Francuskoj i Nizozemskoj, što je pokrenulo lančanu reakciju odbacivanja osnovnih instrumenata demokratizacije EU-a koje su zemlje članice prethodno prihvatile i s kojima su se u potpunosti suglasile. Treći element krize demokracije jest demokratski defi cit u EU-u i različito viđenje načina kako da se on prevlada, jačanjem federalističkih elemenata EU-a ili interguvernmentalnih procedura. Na kraju se konstatira da u suvremenoj Europi postoje tri modela demokracije, po uzoru na Siedentopovu klasifi kaciju modela privlačnosti demokracije, i da je kriza demokracije u Europi potencijalno opasna za daljnji razvoj europskih društava jer se pobjedom nad komunizmom nije ostvario očekivani trijumf demokracije, nego je demokracija u Europi izložena nasrtajima raznih oblika političke patologije, uz deziluziju i neispunjena očekivanja. ; In this article the symptoms of the crises of democracy are analyzed. The author concentrates on three sets of symptoms: fi rst, on the symptoms emerged in transition, post-communist countries that joined the EU within the Fifth enlargement. One of the main indicators of such crises is the low turnout in the European Parliament elections in 2004, only one month after their joining the EU. The reasons for such a bad turnout are the disappointment in democracy and in transition, ...

Ministarstvo kulture 2013. godine provodi istraživanje o stanju u medijima, a 2015. godine započinje raspravu o medijskoj politici te donosi deset dokumenata koji služe kao temelj za medijske politike u RH od 2015. do 2020. godine. Nemoguće je tvrditi da je samo ekonomska kriza uzrok krize u medijima, iako postoji sveza jer je pad broja oglasa u medijima za sobom donio i pad broja zaposlenih. Manji broj novinara u redakcijama utjecao je na pad kvalitete novinskih uradaka, a ekspanzija društvenih medija te jačanje portala na internetu, usmjerili su novinarstvo u drugom smjeru. Erozija demokratske funkcije medija termin je s kojim se danas susrećemo kada govorimo u "krizi" ili stanju u medijima. Iako je prethodno održano nekoliko tematskih prosvjeda Hrvatskoga novinarskog društva, u ožujku 2019. godine organiziran je opći prosvjed nazvan Oteli ste medije, novinarstvo ne damo. Prosvjed je imao za cilj uručiti Vladi osam zahtjeva koji se odnose na sudske tuže, pritiske politike i oglašivača, prijetnje novinarima, ugrožavanje profesionalnih standarda, nepoštivanje medijskih zakona kao te izostanak ozbiljne medijske politike. Iako rasprava o medijskoj politici završava u 2020. godine, sami novinari navode izostanak adekvatne strategije. S obzirom na završetak petogodišnjega razdoblja rasprave o medijskoj politici, u radu će se prikazati rekapitulacija protekloga razdoblja. Je li sve navedeno uzrok daljnje krize u medijima te erozije funkcije medija, autori će nastojati utvrditi u radu. Za potrebe rada provedena je anketa među novinarima dostupnim na društvenoj mreži LinkedIn. Također će se napraviti komparacija s početnim stanjem rasprave o medijskoj politici i dobivenih rezultate. Slijedom slogana prosvjeda, pokušat će se dati odgovor tko je oteo medije te kakva je ocjena novinarstva u Hrvatskoj. ; The Ministry of Culture in 2013 conducts research on the media situation, and in 2015 begins discussions on media policy and adopts ten documents that serve as the basis for media policies in the Republic of Croatia in the period 2015 to 2020. It is impossible to argue that only economic crisis is the cause of the crisis in the media, although there is a link because the decrease in the number of advertisements in the media has also led to a decrease in the number of employees. Fewer journalists in newsrooms have affected the decline in the quality of news articles, and the expansion of social media and the strengthening of online portals have directed journalism in another direction. Erosion of the democratic function of the media is a term that we come across today when we speak in a "crisis" or situation in the media. Although several thematic protests have been held by the Croatian Journalist Society, a general protest called "You kidnapped the media, we don't give journalism" was organized in March 2019. The protest was intended to deliver to the Government of eight claims relating to the largest number of lawsuits, political PR and prints and advertisers' pressures, threats against journalists, jeopardizing the professional rights and standards, failure to comply with media laws and the lack of serious media policy. Although the debate on media policy, in the framework of the start, ending in 2020. Godin e journalists themselves referred to the lack of adequate strategies. Given the end of the five-year media policy debate period, a recapitulation of the past period will be made through the paper. Is all of the above a cause of further media crisis and erosion of media function, the authors will endeavour to determine through the work. For the paper, a survey was conducted among journalists available through the LinkedIn social network. Equally, a comparison will be made with the initial state of the media policy debate and the results obtained will be compared. Following the slogan of the protest, an attempt will be made to answer who abducted the media and what is the rating of journalism in Croatia.

Rad se bavi propitivanjem implikacija izbjegličke krize koja je zahvatila Europsku uniju na demokraciju u Europi i funkcioniranje Europske unije na osnovi usporedbe s teorijom Hannah Arendt o izbjeglicama i ljudskim pravima. Rad se kritički odnosi prema djelovanju Europske unije, posebice Europske komisije, naspram njezinih članica po pitanju rješavanja izbjegličke krize čime se dovodi u pitanje održanje same Europske unije i demokracije na razini Europe. Teorija Hannah Arendt pomaže u sagledavanju sadašnje situacije u povijesnom kontekstu i pruža mogući odgovor kako sačuvati nacionalne države i demokraciju u njima propitivanjem načela ljudskih prava koja je iznjedrila Francuska revolucija, a koja su dovedena u pitanje pojavom izbjegličkog vala s Bliskog istoka u Europu. ; The paper explains the implications of the European refugee crisis for the functioning of the EU and democracy within Europe, with reference to Hannah Arendt's theory on refugees and human rights. The paper examines critically the handling of the refugee crisis by the European Commission and its attitude towards EU Member States, which compromises the actual functioning of theEU and democracy in Europe. Arendt's theory helps us understand better the present situation, taking into account the historical context. Her theory on human rights, born of the French Revolution provides a possible answer regarding how to preserve European nation states and democracy in Europe, notions that have been challenged seriously by the waves of refugees from the Middle East, and ultimately by the European Union itself.