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Strategic development of esports industry: analysis of trends, business models and future growth
No full textOvaj rad istražuje strategijski razvoj esports industrije kroz analizu njezine strukture, tržišnih mehanizama, poslovnih modela i odnosa s tradicionalnim sportskim i medijskim sektorom. Cilj rada je identificirati ključne čimbenike koji omogućuju širenje i profesionalizaciju esportsa, kako na globalnoj razini tako i u specifičnim regijama poput Jugoistočne Azije, Latinske Amerike, Bliskog Istoka i Afrike. Analizom vodećih esports organizacija poput G2 Esports, SK Gaming i Team Liquid prikazano je kako se strateški pristupi, brendiranje i poslovna suradnja koriste za dugoročni rast i međunarodni utjecaj. Poseban naglasak stavljen je na ulogu digitalnih platformi za prijenos sadržaja (Twitch i Youtube Gaming), te suradnju esports industrije s tradiconalnim sportom, ali i njezine izazove i ograničenja među kojima su etička pitanja. Korištenjem komparativne analize, pregledom sekundarnih izvora iz industrijskih i akademskih izvještaja, rad pokazuje da esports više nije hobi, već strukturirani globalni fenomen. Kroz povezivanje tehnologije, zabave i poslovanja, esports se pozicionira kao značajan dio suvremene digitalne ekonomije, kulture mladih i globalne sportske scene.This thesis explores the strategic development of the esports industry through an analysis of its structure, market mechanisms, business models, and relationships with the traditional sports and media sectors. The aim of the study is to identify the key factors that enable the expansion and professionalization of esports, both on a global scale and within specific regions such as Southeast Asia, Latin America, the Middle East, and Africa. By analyzing leading esports organizations such as G2 Esports, SK Gaming, and Team Liquid, this thesis demonstrates how strategic approaches, branding, and business partnerships are leveraged for long-term growth and international impact. Special attention is given to the role of digital broadcasting platforms (Twitch and YouTube Gaming), the collaboration between the esports industry and traditional sports, as well as the challenges and limitations the industry faces, including ethical concerns. Using comparative analysis and a review of secondary sources from industry and academic reports, the study argues that esports is no longer merely a hobby but a structured global phenomenon. By bridging technology, entertainment, and business, esports is increasingly positioned as a key component of the modern digital economy, youth culture, and the global sports landscape
Assessment of the reliability of fair value of assets and liabilities determined during business combinations in the Republic of Croatia
No full textDoktorski rad istražuje utvrđivanje i pouzdanost iskazane fer vrijednosti imovine i obveza u financijskim izvještajima poduzeća prilikom provedbe poslovnih kombinacija u Republici Hrvatskoj. Poslovne kombinacije obuhvaćaju pripajanja, spajanja i akvizicije, a prema MSFI-u 3 Poslovne kombinacije, sve poslovne kombinacije se provode metodom stjecanja koja podrazumijeva alokaciju prodajne cijene na fer vrijednosti stečene imovine i obveza, što može rezultirati iskazivanjem goodwilla ili dobiti od povoljne kupnje. Upravo zato ključni faktor predstavlja utvrđivanje fer vrijednosti, koja prema MSFI-u 13 Mjerenje fer vrijednosti označava cijenu koju bi tržišni sudionici platili u urednoj transakciji. Sveobuhvatnim pregledom sekundarnih izvora literature ukazano je na važnost utvrđene fer vrijednosti za kvalitetu financijskih izvještaja. Istraživanja pokazuju da menadžeri često alociraju većinu prodajne cijene na goodwill jer on ne podliježe amortizaciji, što može dovesti do precjenjivanja goodwilla. Pouzdanost fer vrijednosti imovine i obveza mjerena je regresijskim modelom, a ključni faktori uključuju veličinu poduzeća, vrstu revizora i pokazatelje profitabilnosti i zaduženosti. Istraživanja vezana uz zahtjeve za objavu informacija koje se odnose na poslovne kombinacije i kasniji prikaz goodwilla i umanjenja istog, pokazala su da poduzeća često ne objavljuju sve informacije koje zahtijevaju MSFI. Cilj rada je istražiti načine utvrđivanja fer vrijednosti iskazane imovine i obveza u financijskim izvještajima nakon provedbe poslovnih kombinacija u Republici Hrvatskoj u razdoblju od 2007. do 2020. godine. Znanstveni ciljevi uključuju analiziranje utjecaja unutarnjih čimbenika, utvrđivanje razlike između fer i knjigovodstvene vrijednosti te porezne učinke alokacije prodajne cijene. Aplikativni ciljevi uključuju davanje smjernica za računovođe, menadžere i revizore. U radu su navedene četiri hipoteze kojima se analizira razlika između iskazane fer vrijednosti i knjigovodstvene vrijednosti, mogući utjecaj internih čimbenika na pouzdanost fer vrijednosti, te objavljivanje informacija prema MSFI-u. Empirijsko istraživanje temelji se na analizama podataka iz Moody's Orbis baze i financijskih izvještaja 125 poduzeća koja su provela poslovnu kombinaciju u promatranom razdoblju. Korištene su statističke metode regresijske analize i t-testova kako bi se testirale postavljene hipoteze. Istraživanjem je utvrđen smanjeni opseg objavljenih informacija u financijskim izvještajima u odnosu na zahtjeve standarda te je potvrđena pouzdanost fer vrijednosti imovine i obveza iskazane nakon provedbe poslovne kombinacije. Rad doprinosi razumijevanju pouzdanosti fer vrijednosti u poslovnim kombinacijama te pruža preporuke za poboljšanje transparentnosti i kvalitete financijskih izvještaja u Republici Hrvatskoj.The doctoral dissertation investigates the determination and reliability of the reported fair value of assets and liabilities in companies financial statements during business combinations in the Republic of Croatia. Business combinations include mergers, acquisitions, and amalgamations, and according to IFRS 3 Business Combinations, all business combinations are conducted using the acquisition method, which involves the allocation of the purchase price to the fair value of acquired assets and liabilities. This may result in the recognition of goodwill or a gain from a bargain purchase. For this reason, the determination of fair value is a key factor. According to IFRS 13 Fair Value Measurement, fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A comprehensive review of secondary literature sources highlights the importance of the determined fair value for the quality of financial reporting. Research shows that managers often allocate the majority of the purchase price to goodwill, since goodwill is not subject to amortization, which can lead to its overstatement. Research related to disclosure requirements concerning business combinations, as well as the subsequent presentation of goodwill and its impairment, has shown that companies often fail to disclose all the information required by IFRS. The aim of the dissertation is to explore the methods of determining the fair value of recognized assets and liabilities in financial statements following business combinations in the Republic of Croatia in the period from 2007 to 2020. The scientific objectives include analyzing the impact of internal factors, identifying the differences between fair value and book value, and assessing the tax effects of purchase price allocation. The practical goals involve providing guidance for accountants, managers, and auditors. The dissertation sets out four hypotheses analyzing the difference between reported fair value and book value, the possible influence of internal factors on the reliability of fair value, and the disclosure of information in accordance with IFRS. The empirical research is based on data analysis from Moody’s Orbis database and financial statements of 125 companies that undertook business combinations during the observed period. Statistical methods such as regression analysis and t-tests were used to test the proposed hypotheses. The research identified a lower volume of disclosed information in financial statements compared to the requirements of the standards and confirmed the reliability of the fair value of assets and liabilities reported after the implementation of business combinations. The dissertation contributes to a better understanding of the reliability of fair value in business combinations and offers recommendations for improving transparency and the quality of financial reporting in the Republic of Croatia
Integrated risk management and the application of the risk-adjusted cash flow method on the example of Valamar d.d.
No full textS obzirom na složenost i dinamičnost suvremenog poslovnog okruženja, poduzeća su dužna sustavno pratiti, procjenjivati i prilagođavati se rizicima koji mogu imati značajan utjecaj na njihovo cjelokupno poslovanje. U tom kontekstu, cilj ovog rada je, primjenom detaljne dijagnostičke i prognostičke analize pomoću Top-down pristupa, identificirati, kvantificirati i analizirati ključne strateške, financijske i operativne rizike s kojima se suočava Valamar d.d. Analiza se temelji na primjeni metode integriranog upravljanja rizicima (ERM), koja omogućuje cjelovit i strukturiran pristup upravljanju svim vrstama rizika. U završnom dijelu rada analizira se utjecaj identificiranih rizika na procijenjenu vrijednost poduzeća korištenjem metode rizičnih novčanih tokova. Na temelju provedenih analiza izrađena je mapa rizika, pri čemu je kao jedan od najkritičnijih rizika prepoznat Rizik nedostatka radne snage. U konačnici, rad potvrđuje da Valamar d.d. učinkovito implementira integrirani sustav upravljanja rizicima, čime osigurava svoju otpornost, konkurentnost i dugoročnu održivost poslovanja.Given the complexity and frequent changes in the modern business environment, companies must systematically monitor, assess, and adapt to risks that may significantly impact their overall operations. In this context, the objective of this paper is to identify, quantify, and analyze the key strategic, financial, and operational risks faced by Valamar d.d., using a detailed diagnostic and prognostic analysis through a top-down approach. The analysis is based on the application of the Enterprise Risk Management (ERM) methodology, which enables a comprehensive and structured approach to managing all types of risks. In the final part of the paper, the impact of the identified risks on the fundamental value of the company is examined using the risk-adjusted cash flow method. A risk map was developed, with the Risk of labor shortage identified as one of the most critical threats. Ultimately, the paper confirms that Valamar d.d. effectively implements an integrated risk management system, thereby ensuring its resilience, competitiveness, and long-term business sustainability
The impact of media activity during election campaigns on election results
No full textOvaj diplomski rad analizira utjecaj medijske aktivnosti tijekom predizbornih kampanja na izborne rezultate, s posebnim naglaskom na hrvatske parlamentarne izbore 2024. godine. Cilj istraživanja bio je utvrditi kako tradicionalni i digitalni mediji oblikuju percepciju birača, potiču političku participaciju i doprinose konačnim izbornim ishodima. U radu su korištene metode analize sadržaja, komparativna analiza i studija slučaja, uz oslanjanje na znanstvenu literaturu, izvještaje Državnog izbornog povjerenstva te analizu vizualnih i komunikacijskih elemenata kampanja. Rezultati pokazuju da su integracija tradicionalnih i digitalnih kanala, personalizacija poruka te pažljivo birani slogani i vizualni identiteti ključni za uspješnu političku komunikaciju i mobilizaciju birača. Zaključno, političke stranke koje kontinuirano prate medijske trendove i prilagođavaju strategije, ostvaruju veću vidljivost i angažman birača, što se odražava i na izborne rezultate.This thesis analyzes the impact of media activity during pre-election campaigns on election outcomes, with special emphasis on the 2024 Croatian parliamentary elections. The research aimed to determine how traditional and digital media shape voter perception, encourage political participation, and contribute to final election results. The study employed content analysis, comparative analysis, and a case study approach, relying on scientific literature, official reports from the State Election Commission, and an analysis of visual and communication elements of campaigns. The results show that integrating traditional and digital channels, personalizing messages, and carefully chosen slogans and visual identities are crucial for successful political communication and voter mobilization. In conclusion, political parties that continuously monitor media trends and adapt their strategies achieve greater visibility and voter engagement, which is reflected in the election results
Impact of Environmental Taxes on Greenhouse Gas Emmissions Intensity : European Trends and Policy Perspectives for Croatia
No full textThis thesis examines the impact of environmental taxation on greenhouse gas (GHG) emissions intensity in the EU, with a focus on Croatia. By analyzing the evolution of EU environmental taxation frameworks, including the EU ETS and national carbon taxes, it explores how pricing mechanisms influence emissions relative to economic output. Using cross-sectional data from 22 OECD countries in the EU, it finds a significant negative correlation between carbon pricing coverage and GHG emissions intensity, although the presence of a carbon tax alone does not show a distinct effect. This thesis concludes with policy recommendations for Croatia to strengthen its decarbonisation strategy by implementing more direct carbon pricing and improving the allocation of ETS revenues toward energy efficiency and long-term climate goals
Consequences and effects of the pension reform in the Republic of Croatia from 2002 to the present : transitional cost, reform price and possible solutions
No full textDemografske promjene, starenje stanovništva i duži životni vijek uz ograničene mogućnosti fiskalnih izdataka postaju sve su značajniji problemi s kojima se mirovinski sustavi diljem svijeta suočavaju. Mnoge države, kako bi doskočile svim spomenutim problemima, pred kraj su prošlog stoljeća započele s programima mirovinskih reformi koji su vodili postupnom uvođenju sustava individualne kapitalizirane štednje uz tradicionalni sustav mirovinskog osiguranja temeljenog na međugeneracijskoj solidarnosti. Navedene reforme posljedično su dovele do suočavanja s drugim izazovima poput nedostatka uplaćenih doprinosa za isplatu mirovina iz sustava međugeneracijske solidarnosti jer se od trenutka uvođenja reforme, dio doprinosa počinje uplaćivati u sustav individualne kapitalizirane štednje, 2. stup. U kontekstu navedenih promjena, rad obrađuje inicijalnu ideju mirovinske reforme, njenu strukturu, te se bavi posljedicama i mogućim unapređenjima. Poseban naglasak stavlja na pitanje tranzicijskog troška koji nastaje zbog preraspodjele uplaćenih doprinosa ukoliko nije došlo do povećanja ukupnog iznosa doprinosa koji se uplaćuje. Uz opisano, rad u glavnom dijelu obrađuje i analizira mogućnosti promjene stope doprinosa za mirovinsko osiguranje, u vidu povećanja ili smanjenja izdvajanja doprinosa u prvi, odnosno u drugi mirovinski stup. Zaključci provedene analize, prijedlozi i poboljšanja, prezentirani su u zadnjem poglavlju rada koje naglasak stavlja na dugoročnu održivost suočenu s demografskim izazovima i fiskalnim ograničenjima.Demographic changes, population ageing, and increased life expectancy combined with limited fiscal capacity are becoming increasingly significant challenges faced by pension systems worldwide. In response to these developments, many countries began implementing pension reform programmes toward the end of the 20th century. These reforms gradually introduced systems of individual capitalised savings alongside the traditional pay-as-you-go pension schemes based on intergenerational solidarity. Because of these reforms, new challenges emerged particularly the shortfall in contributions necessary for the payment of pensions from the pay-as-you-go system. This arose because, from the moment the reform was introduced, a portion of pension contributions began to be redirected to the second pillar. In this context, the thesis examines the original concept and structure of the pension reform and addresses its consequences and potential improvements. Special emphasis is placed on the issue of transitional costs, which result from the reallocation of contributions unless the total contribution rate has been increased. In addition, the main part of the thesis analyses the potential for adjusting contribution rates either increasing or decreasing allocations to the first and second pension pillars. The concluding chapter presents the results of the conducted analysis, along with proposals and recommendations, with a particular focus on the long-term sustainability of the system considering demographic challenges and fiscal constraints
The role of digitalization in the capital budgeting process – the example of Microsoft
No full textMijenjajući tradicionalne financijske procese, digitalizacija ima značajnu ulogu u modernom poslovnom odlučivanju, posebice u procesu budžetiranja kapitala. Rad istražuje ulogu digitalizacije u procesu budžetiranja kapitala na primjeru Microsofta, jednog od vodećih tehnoloških poduzeća na svijetu. Cilj rada je analizirati kako digitalni alati, analitika velikih podataka i umjetna inteligencija omogućuju preciznije, brže i točnije donošenje investicijskih odluka smanjujući investicijske rizike i povećavajući efikasnost raspodjele resursa. Automatizirani sustavi analize pomažu u prepoznavanju profitabilnijih investicija, a napredni algoritmi doprinose optimizaciji troškova i boljim financijskim rezultatima. Microsoftova digitalna transformacija u području budžetiranja kapitala pokazuje kako inovativni pristupi mogu poboljšati poslovne performanse i osigurati dugoročnu konkurentnost i održivost.By changing traditional financial processes, digitalization plays a significant role in modern business decision-making, especially in the capital budgeting process. The paper explores the role of digitalization in the capital budgeting process using the example of Microsoft, one of the leading technology companies in the world. The aim of the paper is to analyze how digital tools, big data analytics and artificial intelligence enable more precise, faster and more accurate investment decision-making, reducing investment risks and increasing the efficiency of resource allocation. Automated analysis systems help identify more profitable investments, and advanced algorithms contribute to cost optimization and better financial results. Microsoft's digital transformation in the area of capital budgeting shows how innovative approaches can improve business performance and ensure long-term competitiveness and sustainability
The impact of digital innovations on investment banks
No full textU diplomskom radu istražuje se utjecaj digitalnih inovacija na poslovanje investicijskih banaka, s posebnim naglaskom na primjenu umjetne inteligencije. Analizira se kako integracija tehnologija poput umjetne inteligencije, velikih podataka, računarstva u oblaku, strojnog učenja i sličnih inovacija može redefinirati tradicionalne procese i aktivnosti investicijskog bankarstva. Ciljevi rada su: identificirati prednosti i nedostatke korištenja digitalnih inovacija u financijskom sektoru, istražiti implementaciju digitalnih inovacija u izabranim investicijskim bankama te ocijeniti važnost implementacije digitalnih inovacija u investicijskim bankama. U radu se razmatra potencijal digitalnih inovacija u aspektu povećanja profitabilnosti i produktivnosti, uz istodobno sagledavanje novonastalih izazova poput kibernetičkih rizika te tehničke složenosti samih digitalnih inovacija. Rezultati istraživanja ukazuju na značajne prednosti koje digitalne inovacije i digitalna transformacija mogu pružiti investicijskim bankama, uključujući smanjenje transakcijskih troškova i poboljšanje korisničkog iskustva, ali i na rastuću potrebu za holističkim i strateškim pristupom u rješavanju izazova vezanih uz njihovu implementaciju.This thesis investigates the impact of digital innovations on the operations of investment banks, with a strong focus on the application of artificial intelligence. It analyzes how the integration of technologies such as artificial intelligence, Big Data, cloud computing, machine learning, and similar innovations can redefine traditional processes and activities in investment banking. The aims of this thesis are: to identify the advantages and disadvantages of using digital innovations in the financial sector, to analyze the implementation of digital innovations in selected investment banks, and to evaluate the importance of implementing digital innovations in investment banks. The thesis specifically examines the potential of digital innovations on profitability and productivity, while also addressing emerging challenges such as cyber risks and the technical complexity of implementing these innovations. The research findings indicate significant advantages that digital innovations and digital transformation can provide to investment banks, including reduced transaction costs and improved customer experience. The findings also highlight the growing need for a holistic and strategic approach in addressing the challenges associated with the implementation of digital innovations in investment banking
The relationship of emotional intelligence and the managers' conflict management style
No full textEmocionalna inteligencija, sve važnija kompetencija u poslovnom svijetu, danas neminovno utječe na način donošenja odluka, komunikacije i upravljanja međuljudskim odnosima. Uz to, usko je vezana i uz upravljanje sukobima menadžera, a što predstavlja središnji cilj ovoga istraživanja. Drugim riječima, cilj je ovoga istraživanja bio utvrditi postoji li povezanost između emocionalne inteligencije vrhovnih menadžera te stila upravljanja sukobima. Slijedom navedenoga, korišten je uzorak od 96 ispitanika koje su činili srednji menadžeri iz hrvatskih organizacija. Rezultati istraživanja pokazali su kako postoji povezanost između razine emocionalne inteligencije i odabranog stila upravljanja sukobima, a koja je visokog intenziteta. Dakle, dokazano je da visoka razina emocionalne inteligencije srednjih menadžera prati konstruktivne stilove u rješavanju sukoba, što rezultira boljim međuljudskim odnosima, manjim stresom i efikasnijim učinkom. Nasuprot, menadžeri s nižim razinama emocionalne inteligencije skloni su koristiti destruktivne stilove upravljanja sukobima, što rezultira negativnim rezultatima.Emotional intelligence, an increasingly important competency in the business world, today inevitably affects communication and the way decisions are made and manages interpersonal relationships. In addition, it is closely related to the conflict resolution style of managers, which represents the central aim of this research. In other words, the aim of this research was to determine whether there is a connection between the emotional intelligence of middle managers and the conflict management style. Accordingly, a sample of 96 respondents consisting of middle managers from Croatian organizations was used. The results of the research showed that there is a connection between the level of emotional intelligence and the chosen conflict management style, which is of high intensity. Therefore, it has been proven that a high level of emotional intelligence of middle managers accompanies constructive conflict resolution styles, which results in better interpersonal relationships, less stress and more efficient performance. In contrast, managers with lower levels of emotional intelligence tend to use destructive conflict management styles, which results in negative results for the company
Financial and non-financial reporting analysis of selected companies from the oil industry
No full textTema ovog diplomskog rada je analiza financijskog izvještavanja odabranih poduzeća iz naftne
industrije – INA Grupe i Petrol Grupe primjenom odgovarajućih analitičkih postupaka te analiza
njihova nefinancijskog izvještavanja s okolišnog, društvenog i upravljačkog aspekta. Prvo su
predstavljeni teorijski koncepti, osnovne značajke i regulatorni okvir oba oblika izvještavanja, a
zatim za svako poduzeće zasebno analizirani pripadajući financijski i nefinancijski izvještaji.
Nalazi analiza su uspoređeni između poduzeća kako bi se dobila sveobuhvatna slika o njihovom
poslovanju i uspješnosti. Analizom financijskog izvještavanja ovih poduzeća za razdoblje od 2021.
do 2023. godine ustanovljeno je da su se imovina te ukupni prihodi i rashodi kretali u skladu s
promjenama cijena energenata. INA Grupa je tijekom cijelog promatranog razdoblja imala veći
neto rezultat od Petrol Grupe, no generalno obje Grupe posluju sigurno i uspješno. Analizom
nefinancijskog izvještavanja utvrđeno je da je izravna usporedba brojčanih podataka među
poduzećima otežana zbog različitih metodologija mjerenja, mjernih jedinica, vremenskog
obuhvata, kao i različitog obuhvata poduzeća unutar same Grupe. Međutim, objema Grupama je
zajedničko što grade poslovnu strategiju usmjerenu na održivi razvoj te postavljaju jasne ciljeve
održivog razvoja, što dovodi do postepenog napretka u poslovanju. Iz dobivenih rezultata može se
zaključiti da je potrebno osigurati veću standardizaciju sadržaja i strukture nefinancijskih
izvještaja, čime bi se povećala njihova relevantnost i analitička vrijednost.The topic of the thesis is the analysis of financial reporting of the selected companies in the oil
industry – INA Group and Petrol Group by applying appropriate analytical procedures and the
analysis of their non-financial reporting from environmental, social and governance aspects. The
theoretical concepts, key features and regulatory framework of both types of reporting are first
presented. Then, for each company, the corresponding financial and non-financial statements are
analyzed separately. The findings of the analyses are compared between companies to obtain a
comprehensive picture of their business and performance. An analysis of the financial reporting of
these companies for the period from 2021 to 2023 disclosed that their assets, as well as total
revenues and expenses, varied in accordance with changes in energy prices. Throughout the
observed period, INA Group has had a higher net result than Petrol Group, but in general both
Groups operate safely and successfully. An analysis of non-financial reporting revealed that direct
comparison of numerical data between companies is difficult due to different measurement
methodologies, measurement units, period coverage, as well as different coverage of companies
within the Group itself. However, both Groups have in common that they build a business strategy
focused on sustainable development and set clear sustainable development goals, which leads to
gradual progress in business. From the results obtained, it can be concluded that it is necessary to
ensure greater standardization of the content and structure of non-financial statements, which
would increase their relevance and analytical value