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    LEGAL CONSEQUENCES OF NON-PUBLISHING A TAKEOVER BID WITH A SPECIAL REFERENCE ON INDIVIDUAL MEANS OF PROTECTION IN CASE LAW

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    U radu se analiziraju posljedice neobjavljivanja ponude za preuzimanje pri čemu autor poseban naglasak stavlja na analizu odredbe članka 49. Zakona o preuzimanju dioničkih društava prema kojoj svaki dioničar ciljnog društva može, ako ponuditelj ne objavi ponudu za preuzimanje, pod uvjetima i na način propisan Zakonom o preuzimanju dioničkih društava, podnijeti tužbu pred mjesno nadležnim trgovačkim sudom zahtijevajući obvezno sklapanje ugovora o prodaji dionica pod onim uvjetima pod kojima je ponuda za preuzimanje morala biti objavljena. Prikazom sudske prakse nacionalnih sudova proizlazi kako postoje različita tumačenja citirane odredbe u pogledu dopuštenosti takve tužbe, aktivne legitimacije, roka unutar kojeg se tužba radi obveznog sklapanja ugovora može podnijeti, kao i oblika ugovora o kupoprodaji dionica. Autor se zasebno osvrće na svako od istaknutih otvorenih pitanja zauzimanjem vlastitog stajališta te davanjem prijedloga de lege ferenda.This paper analyses the legal consequences of the non-publication of a takeover bid, referring in particular to Article 49 of the Croatian Takeover Act, according to which, in case of non-publication of a takeover bid, any shareholder of the target company may, in the manner prescribed by the Croatian Takeover Act, bring an action before the territorially competent commercial court for the mandatory conclusion of a share sale agreement under the conditions under which the takeover bid should have been published. The case law of national courts has interpreted the cited provision differently with respect to the admissibility of such an action, the plaintiff's standing to bring an action, the time limit for bringing an action for mandatory conclusion of the agreement and the form of the share sale agreement. The author will address each of the highlighted open issues separately by stating his own position and making a proposal de lege ferenda

    LEGAL CONSEQUENCES OF NON-PUBLISHING A TAKEOVER BID WITH A SPECIAL REFERENCE ON INDIVIDUAL MEANS OF PROTECTION IN CASE LAW

    No full text
    U radu se analiziraju posljedice neobjavljivanja ponude za preuzimanje pri čemu autor poseban naglasak stavlja na analizu odredbe članka 49. Zakona o preuzimanju dioničkih društava prema kojoj svaki dioničar ciljnog društva može, ako ponuditelj ne objavi ponudu za preuzimanje, pod uvjetima i na način propisan Zakonom o preuzimanju dioničkih društava, podnijeti tužbu pred mjesno nadležnim trgovačkim sudom zahtijevajući obvezno sklapanje ugovora o prodaji dionica pod onim uvjetima pod kojima je ponuda za preuzimanje morala biti objavljena. Prikazom sudske prakse nacionalnih sudova proizlazi kako postoje različita tumačenja citirane odredbe u pogledu dopuštenosti takve tužbe, aktivne legitimacije, roka unutar kojeg se tužba radi obveznog sklapanja ugovora može podnijeti, kao i oblika ugovora o kupoprodaji dionica. Autor se zasebno osvrće na svako od istaknutih otvorenih pitanja zauzimanjem vlastitog stajališta te davanjem prijedloga de lege ferenda.This paper analyses the legal consequences of the non-publication of a takeover bid, referring in particular to Article 49 of the Croatian Takeover Act, according to which, in case of non-publication of a takeover bid, any shareholder of the target company may, in the manner prescribed by the Croatian Takeover Act, bring an action before the territorially competent commercial court for the mandatory conclusion of a share sale agreement under the conditions under which the takeover bid should have been published. The case law of national courts has interpreted the cited provision differently with respect to the admissibility of such an action, the plaintiff's standing to bring an action, the time limit for bringing an action for mandatory conclusion of the agreement and the form of the share sale agreement. The author will address each of the highlighted open issues separately by stating his own position and making a proposal de lege ferenda

    COMPETING BIDS IN COMPANIES' TAKEOVERS

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    U radu se analizira postupak preuzimanja dioničkih društava prilikom kojeg dolazi do objavljivanja konkurentske ponude ili kod kojeg se, u slučaju suprotstavljanja uprave ciljnog društva naspram konkretnog ponuditelja, konkurentska ponuda koristi kao protupreuzimateljska mjera. Prvi dio rada teorijske je prirode u kojem se definiraju glavni instituti u postupku preuzimanja s osvrtom na rješenja drugih europskih država. Drugi, istraživački dio rada pruža prikaz provedenih postupaka preuzimanja u Republici Hrvatskoj u razdoblju od 2005. do 2019. godine s posebnim naglaskom na dva postupka preuzimanja dioničkih društava u kojima se koristila konkurentska ponuda te se isti analiziraju.This thesis analyzes the takeover process during which the competitive bid is published or in which, in case of opposition of the management of the target company against a hostile bidder, the competitive bid is used as a defensive measure (white knight). The first part of the thesis deals with definitions of the main institutes in the takeover procedure with reference to the solutions of other European Member States. The second, research part of the paper provides an overview of the takeover procedures carried out in the Republic of Croatia in the period from 2005 to 2019, with special emphasis on two takeover procedures of joint stock companies in which a competitive offer was used

    Going Beyond Counting First Authors in Author Co-citation Analysis

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    The present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed

    Variations on the Author

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    “Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship

    Appropriate Similarity Measures for Author Cocitation Analysis

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    We provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis

    Pravo dioničara zahtijevati obvezno sklapanje ugovora o prodaji dionica – posebnost hrvatskog prava preuzimanja

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    U radu se analizira odredba članka 49. Zakona o preuzimanju dioničkih društava prema kojoj svaki dioničar ciljnog društva može, ako ponuditelj ne objavi ponudu za preuzimanje, pod uvjetima i na način propisan Zakonom, podnijeti tužbu pred mjesno nadležnim trgovačkim sudom zahtijevajući obvezno sklapanje ugovora o prodaji dionica pod onim uvjetima pod kojima je ponuda za preuzimanje morala biti objavljena. Autori se u radu zasebno osvrću na pitanja nadležnosti za utvrđivanje obveze objavljivanja ponude za preuzimanje, aktivne i pasivne legitimacije, trenutka nastanka tužbenog zahtjeva, roka unutar kojeg se tužba radi obveznog sklapanja ugovora može podnijeti, oblika ugovora o prodaji dionica kao i visine tužbenog zahtjeva. Prikazom sudske prakse nacionalnih sudova proizlazi kako postoje različita tumačenja citirane odredbe koja dovode do neujednačene sudske prakse te, u konačnici, rezultiraju pravnom nesigurnošću. Međutim, unatoč uočenoj neujednačenosti sudske prakse autori se protive stajalištu da se odredba članka 49. Zakona o preuzimanju dioničkih društava briše jer bi to dovelo do oduzimanja prava manjinskim dioničarima koje im je Zakonom dano još 2002. godine, a isto tako bilo protivno svrsi i cilju Zakona o preuzimanju dioničkih društava, a to je zaštita manjinskih dioničara. Ujedno, zagovaraju određenost i preciznost pravne norme koja će osigurati jasnoću i predvidljivost u njenoj primjeni.The paper analyses the provision of Article 49 of the Croatian Takeover Act ac­cording to which any shareholder of the target company may, if the offeror does not publish a takeover bid, under the conditions and in the manner provided by the Act, file a lawsuit before the commercial court with territorial jurisdiction demanding the mandatory conclusion of a share sale agreement under the conditions under which the takeover bid should have been published. The authors separately address the issues of jurisdiction for determining the obligation to publish a takeover bid, active and passive standing, the moment when a claim can be filed, the time limit for bringing an action for mandatory conclusion of the agreement, the form of the share sale agreement, and the amount oj the claim. A review of the case law of national courts shows that there are different interpretations of the cited provision, which lead to inconsistent case law and, ultimately, result in legal uncertainty. However, despite the perceived inconsistency of court practice, the authors oppose the proposal to delete the provision of Article 49 of the Takeover Act, as this would lead to the deprivation of the rights of minority shareholders that were given to them by the Takeover Act in 2002, and would also be against the purpose and goal of the Takeover Act, which is the protection of minority shareholders. Also, they advocate the certainty and precision of the legal norm, which will ensure clarity and predictability in its application

    Dispelling the Myths Behind First-author Citation Counts

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    We conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more sophisticated methods

    Author Index

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