Abstract

t The various combinations of sources of financing that a business uses in its operations have multiple impacts on the generation of its cash flow. Such influence can be viewed from the aspect of forming the total cost of financing the company, from the aspect of investments where such an indicators represents the minimum level of required profitability of investment projects, as well as from the aspect of investors in an enterprise where different capital structure carries with it a different level of financial risk. It is therefore not surprising that there is considerable scientific interest in this issue and numerous researches conducted on this topic. Moreover, the relevance of the subject is also evidenced by the fact that there are numerous theories on the formation of capital structure and its consequences on the valuation of the company, that is, the influence on the market value of the company's shares. This paper will determine the average values of the formation of the capital and financial structure of Croatian companies listed on the Zagreb Stock Exchange. The analysis of 30 companies over a ten-year period from 2009 to 2018 will seek to show the impact that the formed capital structure has on profitability. By establishing a negative link between the selected debt indicators and the profitability indicators, the validity of contemporary capital structure theories, which have their starting point in behavioral finance and are specific for developed financial markets, has been rejected.

Highlights

  • Research on workplace attitudes is one of the most common topics in organizational psychology

  • The results obtained in this study are in agreement with those of other authors, who noted the short-term positive effect of job loss risk and its destructive longitudinal effect. These results provide a positive answer to the question: longterm exposure to the employee's job insecurity leads to poor emotional attitude towards the job and lowering their work performance, as evidenced by the dynamics of the energy indicator

  • The results indicate that money multipliers are unstable and inappropriate for the short-run policy purpose, we find the validity of the money multiplier model in the long-run

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Summary

Introduction

Research on workplace attitudes is one of the most common topics in organizational psychology. Judge and Kammeyer-Mueller (2012) define attitude toward work as a personal evaluation of work that expresses feelings towards work, beliefs and connection to work These three components determine a person's workplace behavior and productivity. Vukšić (2005) analysed the impact of FDI on Croatian product exports and concluded that FDI has a positive effect on export, but on a relatively small scale He finds that export-oriented greenfield projects would improve exports within the manufacturing industry in Croatia. The results of the analysis confirm the positive impact of FDI on the productivity of Croatian companies and indicate that a large part of the potential positive effects of foreign capital inflows has been utilised, despite a smaller share of greenfield investment and a more inferior sectoral distribution of FDI. VCs are one of the most appealing investors in the PE industry because of their knowledge, personal networks they use to boost young companies (Zeisberger, Prahl, & White, 2017)

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