engleski

Financial Risk Management Instruments Usage in Large and Medium-Sized Enterprises- Business Survey in a Transition Country

From this survey research came out the conclusion that companies in Croatian transition economy are not enough aware of possibilities to protect themselves from financial risks. It is shown that less than a half of medium-sized and large Croatian enterprises (41%) included in the sample do use instruments to protect themselves from financial risks. Even users of these means are not sufficiently acquainted with particular instruments and those who are, do not actually use them. It was shown that enterprises that use financial risk protection methods have got, firstly, larger total yearly revenue, and, secondly, this revenue has got a tendency to grow. These two mentioned business success variables are statistically significantly dependant on usage (non-usage) of financial risks protection instruments. After the research, it should be recommended to banks, insurance companies and financial consultants to develop the corporate advisory service in the direction of better informing their corporate clients, actual and potential, about financial risks protection means and give them advice what is appropriate to use, why, when and how. This activity should be a kind of banks’ and consultants’ marketing activity, and help not only corporate clients in their financial management, but also help them to create better position on financial market. In the future it would be interesting to investigate small enterprises’ attitudes towards financial risk management concerning risk protection, and not only for medium-sized and large companies, as well, and this is the next task for the authors of the paper. A larger sample size should be recommended, as well.

Financial Risk Management; Sample Survey

Rad predstavlja proširenje rada prezentiranog na skupu 55th International Statistical Institute (ISI) održanog u Sydneyu, Australija, u travnju 2005. Suautori Dumičić Mirna i Cukrov Roko su studenti poslijediplomskog studija "Financije poduzeća" na Ekonomskom fakultetu Zagreb.