The English version of this paper can be found at http://ssrn.com/abstract=2518446. Croatian Abstract: Protiv odluka regulatornih agencija u Hrvatskoj nije dopuštena žalba već se može pokrenuti upravni spor. U tom slučaju, prema provedenom istraživanju, tužitelj ima 13% šanse uspjeha,...

For proper valuation of risk to which the portfolio of financial assets is exposed, it is necessary to forecast the second moments of financial time series, that is variabilities. The empirical investigations show that financia time series are heteroskedastic, i.e. their volatility is not...