Domagoj Sajter

• Professor
• Professor (Full) at University of Osijek

The purpose of this paper is to analyse the production of publications in the field of economics in Croatia on a sample of almost 34,000 papers published from 2000 to July 2023, and to identify the most common terms and their connections. A refined database in the field of economics from the Croatian Scientific Bibliography (CROSBI) was downloaded,...

The entire world was significantly impacted by the COVID-19 pandemic,leading to confusion and turbulence in healthcare systems, as well as toextreme uncertainty in the financial realm. There was a profound distressin stock markets due to the enormously elevated levels of risk instigated bythe pandemic, which additionally inflated investors’ losses....

An important feature of every financial system throughout history is its capability to facilitate transfer of money in a secure and cost efficient manner. Cryptocurrencies as sources of innovative solutions – especially Bitcoin as their most prominent representative – have offered a completely new transmission system for a piece of information that...

The purpose of this paper is to obtain and analyse data on the higher education lecturers at the 16 largest, state-owned faculties of economics in seven central and eastern European countries (Bosnia and Herzegovina, Croatia, Kosovo, Montenegro, North Macedonia, Serbia, and Slovenia), about their scientific impact and reach. An analysis of their re...

The idea behind this paper is to reflect on the prevailing economic system as we know it in the context of global pandemics lockdown, and to consider alternatives. As such, it is envisioned as a concise discussion/review article. The key conclusion states that the novel corona virus has brought us an unwarranted, but much needed inflection point, w...

This paper aims to answer the following research question: what is the common debtors’ assets size within the insolvency proceedings in Croatia, and what is the relation of the size of the assets to the appointment system? The goals and purpose are to deliver a dynamic, analytical overview of the of appointment system of insolvency practitioners in...

The goal of this paper is to research and present the current developments and future prospects of the blockchain technology throughout economy. Since it was introduced within the Bitcoin, blockchain became a buzzword repeated everywhere, often a proposition of panacea for the global problems. However, in the meantime the world of cryptocurrencies...

Blockchain is a technological concept which evolves from the first cryptocurrency, Bitcoin, and disrupts constantly enlarging areas of economy. The concept of blockchain is developing, and while the future of Bitcoin remains unclear (as it is for the most elements of the economy) it is evident that the blockchain holds enormous potential for large-...

The main purpose of this paper is to provide an overview of the financial ‘health’ of the Croatian publishing market in the five-year period (2010-2015) considering the continental (EU) as well as the global context (USA) in regard to phenomenon called ‘cannibalization’. The statistical analysis of losses in revenue incurred on printed books, perio...

This paper aims to gain and improve understanding of the three most common cryptocurrencies (Bitcoin, Ethereum and Ripple) by applying standard econometric tools upon their time-series data. Cryptocurrencies' returns are compared to six major stock indices: two American (S&P500 and Russell 2000), one European (Stoxx 600), one Japanese (Nikkei 225),...

The main purpose of this paper is to provide an overview of the financial ‘health’ of the Croatian publishing market in the five-year period (2010-2015) considering the continental (EU) as well as the global context (USA) in regard to phenomenon called ‘cannibalization’. The statistical analysis of losses in revenue incurred on printed books, perio...

Immediately after Swiss Central Bank withdrew from controlling CHF/EUR exchange rate in January 2015. CHF/HRK rate rose 15%, thereby substantially propagating Croatian credit default rates, non-performing loans and inciting broad socio-political consequences. The purpose of this paper is to examine (ab)normality of currency exchange rate distributi...

Cashless society, in which paper money and coins are replaced with virtual money, embodied in RFID, NFC and other electronic chips, or located in the ‘cloud’, is fiction no more ; it is nearby, and in some countries on the verge of full manifestation. Cashless society is marketed and promoted intensely by the parties interested in its emergence, mo...

Are investments in energy efficiency profitable? The answer largely depends on the applied methodology within investment analysis, but because of their wide impact energy efficiency investments should not be evaluated only by “normal” investment criteria. After a comprehensive literature review, we establish a new conceptual framework for the analy...

It is generally considered that bankruptcy procedures in Croatia are long-lasting, and that Commercial courts are sluggish in processing them. Having in mind that efficient bankruptcy system prevents dissipating of collective wealth created by many generations, it is important to obtain a reliable insight into its operation. The aim of this researc...

The aim of this paper is to draw attention to practical problems in bankruptcy procedures in Croatia by displaying results of the field research of closed bankruptcy cases, to eliminate deep-rooted shortcomings of the bankruptcy system, and to improve fulfillment of bankruptcy purposes. The research was performed on a sample of 30 bankruptcy cases...

The aim of this article is to detect Monday and January effects on stock markets in Croatia, Serbia, and Slovenia. Average daily stock market returns are examined using standard statistical tests. There are no stable and constant signs of January effect in these countries, while there is an indication of the Monday effect in Croatia, and a Tuesday...

The research object of this paper is to scrutinize the risk-adjusted returns of the five largest Croatian open-end equity mutual funds (ZB Aktiv, PBZ Equity, Raiffeisen Central Europe, Erste Adriatic Equity, and ZB Trend), and to compare each of them individually with a selection of the risk-adjusted returns of 10 relevant stock market indices (Cro...

Being a post‐communist, central‐eastern economy, Croatia and its insolvency system resembles many transitional countries in the region. In order to achieve a better perspective of the current situation, problems, and their possible solutions, a broad research of the Croatian insolvency system was carried out. Questionnaires were sent out to bankrup...

American stock markets are by far the most influential markets in the world, and the abundance of information coming from them is closely monitored all over the planet. However, it seems difficult to rationally explain the immense scope of impact of the US stock indices on a rather small market such as Croatian. Zagreb Stock Exchange quotes Croatia...

This study aims to detect and explain co-movements and spill over effects between American and Croatian stock markets. Following the methodology and findings of Erjavec and Cota (2007), the dependency of the Crobex index to the main US indices (DJIA, S&P500, NASDAQ) is further examined. The econometric study is widened, and the persistent relations...

Eurostat (Statistical Office of the European Communities) regularly publishes death rates of enterprises as one of the business demography reports. Building upon this terminology and perceiving that bankruptcy most often indicates near death of a distressed company, we could say that bankruptcy administrators' work is often reduced to playing the r...

Bankruptcy is an interesting object of research, being habitually perceived as a shocking and scandalous event, tarnishing management reputation, stigmatizing its owners, and regularly leading to a dishonourable death of the company, leaving outstanding debts in legacy. Its interdisciplinary character makes it even more challenging and extends the...

This is a Master of Science thesis, written in Croatian language. Only an abstract is available in English. Total fiscal expenditure of bank failures in the Republic of Croatia in 1996 and 1998 were no less than 27% of Croatia's GDP. This is one of the most expensive bank crises in the history of bank failures in the world, when compared to the siz...