Karanovic, Goran; Bogdan, Sinisa; Baresa, Suzana - In: UTMS journal of economics / University of Tourism and … 1 (2010) 1, pp. 73-84
Lack of capital market development cause that calculating the value of companies in the small markets, such as the Croatian market, is carried out primarily from the analysis of financial statements. Lack of market development is evident from the unrealistic and unobjective corporate values, as...