High quality annual reports can contribute significantly to a company's success. The main aim of this article is to analyse and compare the level of annual report disclosure quality for listed companies in selected European transition countries (Croatia, Montenegro, Romania, Serbia and Slovenia) using a constructed disclosure quality index (DQI). Obtained results suggest that Slovenian companies have the greatest level of disclosure quality and that there are significant differences in disclosure quality of annual reports between the observed countries. These findings could be of interest to potential investors, management and other users of corporate disclosure, namely regulators in the process of financial reporting quality improvement.

Background: In today’s dynamic environment, electronic banking and electronic commerce have become an inevitable aspect of financial services, so the question of acceptance and use of this kind of technology arises.Objectives: The aim of this research is to determine whether the motivation for using the Internet banking in the city of Split, Croatia, can be explained by perceived ease of use and perceived usefulness as the main elements of the technology acceptance model.Methods/Approach: For the purposes of the research, a survey analysis was applied to the sample of 282 working residents of Split. The gender and age structure of the sample was harmonized with the population to make the results more credible. In order to test the research hypothesis, logistic regression models were used.Results: The results confirmed that both elements of the technology acceptance model significantly influence the acceptance of the Internet banking in the city of Split.Conclusions: It is concluded that demographic and economic characteristics and perception of individuals affect the acceptance and use of the Internet banking in the city of Split. The results showed that both elements of the technology acceptance model influence the acceptance of the Internet banking.

The problem of selecting an optimal set of investment stocks is of a huge interest for both individual and institutional investors. This paper compares the hybrid multiple criteria decision making (MCDM) approach to selecting the best stock to invest in, with the stock selection using modern portfolio theory (MPT). When selecting stocks, it is very important to thoroughly analyse stocks, according to multiple criteria, including their equity market indicators, as well as financial indicators. The objective of the research is to compare the stock selection using a hybrid MCDM approach and MPT, which includes only the equity market indicators. The analysed sample includes 18 stocks, which are CROBEX components on the Croatian capital market from January 2017 to January 2019. The rankings of stocks were calculated using five MCDM methods. These were then used to obtain the final hybrid stock ranking, which was compared to the MPT stock selection. The results show that there is a significant difference in the stock rankings. However, the stocks which have not entered any portfolio in MPT selection were ranked as lowest according to the hybrid MCDM approach, which confirms that those stocks are the worst to invest in. The research can serve as a guidance for investors to use all available stock information in their decision making process of investment.

Abstract. The aim of this paper is to explore the dynamics between human capital investments and company profitability measured by return on equity and profit margin ratios using panel data analysis over a five-year period. The research hypothesis assumes that more profitable companies have higher employee costs (human capital investment) and the opposite is also true. This specially refers to companies in human-capital-intensive industries, such as the information technology industry, where a company's most valuable asset is employee knowledge. Thus, the assumption is that such entities will have a greater part of intellectual capital capitalized through trademarks. Furthermore, this paper analyses whether the level of human capital investments significantly differ with regard to company size and listing status. Verification of empirical evidence is provided using a sample of approx. 5,000 companies in the European Union from the information technology industry for the period 2011-2015, i.e. approx. 25,000 company-year observations using an adequate panel data analysis technique.

Abstract. Performing business according to contemporary requirements influences companies for continuous usage of modern managerial tools, such as a human resource information system (HRIS) and electronic recruitment (ER). Human resources have been recognised as curtail resources and the main source of a competitive advantage in creation of successful business performance. In order to attract and select the top employees, companies use quality information software for attracting internal ones, and electronic recruitment for attracting the best possible external candidates.The main aim of this paper is to research the level of the usage of HRIS and ER within medium-size and large Croatian companies. Moreover, the additional aim of this paper is to evaluate the relationship among the usage of these modern managerial tools and the overall success of human resource management within these companies.For the purpose of this paper, primary and secondary research has been conducted in order to reveal the level of the usage of HRIS and ER as well as the overall success of human resource management in Croatian companies. The companies' classification (HRIS and ER) is done by using the non-hierarchical k-means cluster method as well as the nonparametric Kruskal Wallis test. Further, the companies are ranked by the multicriteria PROMETHEE method. Relevant nonparametric tests are used for testing the overall companies' HRM. Finally, binary logistic regression is estimated, relating binary variable HRM and HRIS development. After detailed research, it can be concluded that large Croatian companies apply HRIS in majority (with a positive relation to HRM performance), but still require certain degrees of its development.