This paper explores possibilities of using rolling regression CAPM on the Zagreb Stock Exchange in portfolio and risk management. Since original model has many flaws, one of them including the assumption of constant parameters in the model, extending the model with the assumption of changing parameters over time could lead to better results regarding portfolio risk and return. Furthermore, the rolling regression approach to CAPM estimation has not yet been observed on the Croatian and similar CEE markets, to the knowledge of the author. Weekly data on five sector indices from Zagreb Stock Exchange and the market index CROBEX with 91 day T-bill rates have been used for the period January 2012 – April 2018 in order to evaluate rolling regression CAPM on the Croatian market. Results from the analysis are used in simulating portfolio strategies in order to evaluate their performance regarding risk and return. Results indicate that such trading strategies could lead to better portfolio risk and return characteristics compared to the CROBEX benchmark, with the inclusion of transaction costs as well.

Small and medium-sized enterprises (SME) represent an extremely important aspect for an economy of a country, especially for the economies of developing countries such as Bosnia and Herzegovina (BiH). Increasingly demanding market, process of globalization, advancement of information and telecommunication technology, and an increase in the negotiating power of certain stakeholders such as customers/clients, have caused the need for a better, faster and more efficient system of making day-to-day decisions, both on operational and strategic level. SMEs are not an exception, as confirmed by the research results, which imply that SMEs in BiH, in most cases, do not have the Business Intelligence (BI) system. The research results also suggest that a significant number of SMEs have one or more information systems, such as Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Data Management Systems (DMS), Warehouse Management System (WMS), which generate the required data into one or more databases, which are the main source of data for BI. The research also confirms that SME companies in BiH recognize the role and importance of BI, but there is a significant number of barriers and obstacles that hinder the implementation of BI system. These key obstacles and barriers relate to the lack of financial resources, insufficient knowledge and management experience, lack of vision and clearly defined strategic goals, insufficiently defined Key Performance Indicators (KPIs) and their requirements.

Worldwide, e-government is becoming very important in providing public services. Successful implementation of e-government depends on two sides. One side represents government with their view of e-government implementation, and at another side are citizens’, NGO’s and private sector as users of e-government services with their needs and views of e-government services. So, to make the successful implementation of e-government services, the government needs to take into account wishes (needs for digital services) of their citizens’. In that way, the government will prevent low-level of adoption and usage of e-government services, which is connected especially with developing countries. To address this issue, this study will try to identify key determinants affecting citizens’ adoption and usage of e-government services in Bosnia and Herzegovina. For that purpose, study adopted UTAUT model to identify and explore determinants of citizens’ adoption of e-government services. Regarding all previously mentioned, the main goal of this study can be defined as the way to identify key determinants affecting e-government adoption by citizens’ in the state of Bosnia and Herzegovina. The survey results, conducted on a sample of 553 citizens’ of Bosnia and Herzegovina, found that determinants social influence, effort expectancy and performance expectancy are statistically most influential determinants of citizens’ adoption of e-government services. Also, citizens’ adoption and usage of e-government services depend on citizens’ age, level of education and internet experience. The conclusion can be that successful e-government services implementation greatly depend on citizens’ adoption and usage of e-government services.

The research in human resource management (HRM) field has evolved in past couple decades. By observing human resources (HR) as one of the most important assets in the business, it is obvious that it represents a key to business success or failure. By reviewing the literature, one cannot neglect that there is one serious gap in HRM research which relates to micro companies. This study aims to reduce that gap by examining 107 micro companies in relation to strategic HR practices and organizational performance. Results show that there is no enough evidence to support positive and significant relationship between strategic HR practices and organizational performance in micro companies.

This primary research was conducted in order to find out what was the level of managers’ and employees’ openness to experience. In addition to this, this research will try to answer the question as to; are there any differences between the managers and non-managers or employees of a certain industry, in terms of openness to experience. It additionally covers the enduring characteristics, in other words, the big five personality traits, where Openness to Experience is to be one of those traits and the main emphasis is placed particularly on it. This research project is based on extensive literature review and previous works related to the openness to experience. Quantitative research design was applied with cross-sectional time frame at the end of Summer and beginning of Fall, 2015. The original-primary research has been conducted at the meat industry OVAKO, one part of AKOVA Impex. Quantitative survey instrument originally developed by Oregon Research Institute was adopted as a basis and was modified to meet statistical criteria for this research. Selection process was simple random sampling, which means that every single individual had the equal opportunity to be selected. Survey questions were distributed to 200 participants. From the sampling frame, 130 participants formed sample and the rest of 70 questionnaires were not completely filled out. The study found out that there was no statistically significant difference between the managers and non-managers in terms of openness to experience at meat industry OVAKO, Visoko.

In analysis of specialisation in tourism it is important to reflect on several related terms which have become apparent with the emergence of modern times. This concerns competitiveness, positioning in the tourism market, education and innovativeness. Specifically, it is believed that all the listed terms are closely linked to the process of specialisation in tourism and, more accurately, that the said process affects them or, within a specific context, that it becomes determined by them. At the international level, the most important and most active market is the European market; more precisely, the European Union market, that is to say, its emissive and receptive character. For some time, the leading destinations have stressed the importance of specialisation in tourism, especially the green ones. Wishing to retain their market position, tour operators can help destination sustainable development by specialisation. Due to a large stakeholder network in destinations, former “big players” know them well and propose new tourist attractions. By the research, specialisation in tourism is analysed, as well as the levels and roles of specialisation in the removal of externalities. At the same time, the paper represents a contribution to the analysis of internal and external risks, as it points to the importance of their removal on the example of specialisation in Croatian tourism.While the majority of stakeholders in tourism are oriented towards the profit and creation of additional income in tourism, realistic circumstances and possibilities for development of destination tourism can be realised also through benefits of the forms of selective tourism.