Complexity of competitive repertoire is the ability of a firm to undertake a wider range of diverse competitive moves than its competitors. Firm undertaking diverse competitive moves can enhance capabilities and potentially achieve competitive advantage and superior performance, especially in environment with uncertainty and volatility characteristics. Besides, complexity of competitive repertoire gives stakeholders a series of information on the firm characteristics, its resources and/or specific know-how for intense rivalry. The goal of this paper is to provide theoretical and practical overview on the construct of complexity of competitive repertoire and the method of its computing. In addition, relationship between complexity of the competitive repertoire and the firm performance on a sample of seventeen Croatian firm dyads are analyzed. Results show that the higher level of complexity in a competitive repertoire has a positive effect on firm performance.

In the current economic environment characterized by globalization, technological innovation, financial crisis, firms are facing a sharp drop in sales, production and number of employees. These changes require firms to formulate viable business responses to prevent market exit. One of the ways to strengthen the production system is represented by network agreement, according to which firms work together to achieve a common goal to be more competitive and to achieve what they themselves could not do because of the limitations inherent in the lack flexibility, expertise and lack of financial resources. The purpose of this paper is to evaluate the effectiveness of the network agreements implemented by firms operating in the industrial sector. The analysis is conducted on the Italian firms that, from 2009, have started collaborative relationships through the network contract introduced by the Italian law n. 33 of 9th April 2009. The paper is structured as follows. The first part examines the main contributions in the literature concerning the topics related to networks and the firms' competitiveness and also the reasons influencing the formation and development of alliances between firms. The second part, instead, is focused on the evaluation of the effectiveness of the network contracts by observing the performance of firms before and after their join the network. In terms of competitiveness has been observed sales while, with regard to profitability was observed the return on investment (ROI). The findings show significant results in relation to both the turnover and profitability.

The purpose of this paper is to provide a new theoretical insight regarding top managers' personal values in developing countries based on the Schwartz Values Theory (Schwartz, 1992, 1996, 2006; Schwartz and Bilsky, 1990) and to explore the influence of top managers' personal values on sustainability performances of successful businesses.

The research describes personal values differences between top managers and their commitment to pro-social and pro-environmental responsibility who were approached through the validated and reliable questionnaire on identifying top managers' personal values (PVQ40) and questionnaire on sustainability indicators observed through the „triple bottom line“ concept which includes three measuring elements: financial, social and environmental performances (Fauzi, Svensson and Rahman, 2010).

Given that top managers are very often the owners in SMEs, their values are largely reflected in the organizational values, which means that in small pro-environmentaly oriented firms, the personal values of owners-managers seem to play a much stronger part in motivating pro-environmental behaviors than in other SMEs (Lawrence at al., 2006). With regard to business sustainability, it is still insufficiently known, developed and understood in Southeast Europe and in developing countries. Therefore, this research may be used to encourage companies and local governments to include a sustainability issues in their business activities as a pre-condition for business success and competitiveness. The managers in SMEs can use this research as a guideline on introduction of contemporary principles of sustainability into their companies and to improve and direct their personal values towards sustainability.

Can whistleblowing reinforce corporate governance? This will be the subject of this legal study which aims at first identifying legal instruments that exist under French law, and comparing them with those that exist abroad in order to map these mechanisms and identify the structural characteristics. Then, the vocation of whistleblowing as a lever of corporate governance will be discussed, including questioning the effectiveness of this mechanism.

This paper focuses on the determining the product and process innovation in three different countries: Croatia, Poland and the UK. The purpose of this study is to investigate significant differences among companies that report product and process innovation relative to different market contexts that they operate in and their reported R&D intensity. Using the survey data of 380 entrepreneurs and business executives from three countries: Croatia, Poland and the UK three regression models have been tested as well as significant differences among groups. The empirical results indicate conditional similarities in Croatian, Polish and British firms and respective investment into R&D. Related to product innovation, this study confirmed that UK is significantly better than Croatia, and for process innovation results revealed that UK has significantly better score than both Croatia and Poland. Regarding R&D intensity results indicate that Croatia reports higher levels than Poland.

The concept of good governance constitutes a wide perspective for academic discussion because it provides a substantial theoretical background for settling many practical problems faced contemporarily by the EU. The basic assumptions of good governance have basically remained unchanged since the 90’s, when the concept was introduced by the World Bank. Notably, the scholarly discussions these days reveal new facets of the said concept, when related to specific domains. The paper discusses the application of the specific elements of the concept of good governance in the field of the international investment law. Specifically, it seeks to demonstrate that the concept of good governance regulates the issue of international investments in that, among others, it requires the application of the alternative dispute resolution in order to make the investment law enforceable in the best possible way.

Paper examines the impact of a going-concern audit opinion on the corporate governance, measured by the changes in board of directors’ composition. External auditor’s opinion is used as a measure to address agency problems in companies. We examine this impact on sample of 55 companies listed on the Banja Luka Stock Exchange which have received going-concern audit opinion for 2013 financial reports. In this paper, the relationship between going-concern audit opinion and the corporate governance is investigated observing changes in board of director composition and additional requests for rigorous board performance evaluation after the shareholder’s assembly have received external auditor’s report. Results show that board of directors of companies that received going-concern audit opinions have not suffered serious consequences such as rigorous board performance evaluation, reduction of board size or changes of board members. This highlights the importance of measures that need to be put in place in order to increase of external auditor’s role in corporate governance.

Internationalization has become an inevitable fact in the business world since the 1970s, when a strong liberalization of the market started to take place and the technology came to a level which enabled companies to expand their businesses outside the boundaries of their countries. Businesses use range of different modalities entering foreign markets but this research is focused on exporting companies as one of the most commonly used strategy in foreign market exploitation. Research conducted on the basis of 113 exporting companies examines the role of managerial capabilities regarding their international performance. Managerial capabilities are associated with key organizational requirements necessary for entering these foreign markets, along with the methodical building of a competitive product portfolio and achieving sustainable competitive advantage. Managerial capabilities are measured by the level of their general education, skills and experience, as well as knowledge about international markets.

Croatian agriculture stagnates over the last quarter of the century. Although it is heavily subsidized and the investment in mechanization was high, Croatian agriculture did not improve its production level, not even after the accession to the European Union. The project of green and blue Croatia, which aim is to connect agricultural production and tourism, did not show significant results import substitution. In this paper non-perennial crops agriculture is analyzed since it forms more than 40% of total agricultural production in Croatia. In order to distinguish the contribution of capital, labour and total factor productivity, a Cobb-Douglas production function is estimated on a panel data set for Croatian non-perennial agriculture in the period of 2008 – 2014. It was discovered that production elasticities do not correspond to the shares of expenditures on labour and capital which is a common production function assumption. Also, it is shown that total factor productivity declines over time, a disinvestment and labour decline caused stagnation of this sector of Croatian economy. A further analysis is made to determine the impact of subsidies and export orientation on TFP and it is found that Croatian agricultural production is affected by export orientation and subsidies, but their impact is almost irrelevant.

League Central America (LCA) is presented as an example of leaders, managers, guides and entrepreneurs who are starting a new era in the management of companies, where values and spirituality mark the path to excellence and define administrative roles, behaviors and attitudes of all members of the organization. Corporate Social Responsibility is the Management Model. Leaders in the business world are judged by hard-number figures, short term actions; added value and wealth creation long term vision & purpose. But, surely, leadership is in itself a risky business role and a visionary leader does not shy away from taking risks because following his/her vision is inherently hazardous. Visionary leaders understand that spirituality, in the work place context, is about finding, meanings and purpose beyond one’s self. It means that need the others. The working life of engagement is about understanding and using our family social values and strengths in the day today. When we experience this deep engagement and absorption we are a state of flow (Csikszentmihaily, 1975 – Gardner 2002). A meaningful life comes from serving others, volunteer activities or visionary work. The visionary leader role may be instrumental by opening opportunities to motivational and positive work.

The D.N.A. of Maquila League culture is oriented to task results and processes, it means short term. The professors we are trying to work with its managers, around 20-25, and supervisors, around 60, to develop crucial leadership skills based at medium- long term objectives like:

 Showing respect for others, Demonstrating fair treatment in conflict situations, Demonstrating fair treatment in conflict situations, Expressing caring and concern, Listening responsively, Recognizing the contributions. Engaging in reflective practice every morning after to know the results of the day before.

 Mission: Corporate Social Responsibility

In this paper authors have analysed development of legal and technical framework of interconnection of registries of company data at the level of the European Union. Analysis of sources of the European Union Law and case law of the Court of Justice of the European Union has led to the conclusion on importance of integration of registries of Member States of the European Union for affirmation of principle of transparency and development of freedom of establishment. Efforts made so far in this area of law have resulted in adoption of Directive (EU) 2012/17 on interconnection of central, commercial and companies’ registries. The aim of the Directive is to create a framework for easier access to companies’ data and to increase transparency. Amended provisions of Act on Court Register have been analysed, by which provisions of Directive (EU) 2012/17 have been implemented. Legal solutions which would contribute to overall integration of central register of financial data of Croatian Financial Agency into the system of interconnection of companies’ registries are taken into consideration.

Lately, the role of internal audit is viewed with great importance in the context of the supervisory mechanisms of corporate governance, which is a direct result of requests for more effective corporate governance and the need for control. Corporate governance foundation may be considered through the four cornerstones: Audit Committee, Executive Management, Internal Auditors and External Auditors. Internal audit contributes to corporate governance effectiveness through relations and communication with other cornerstones. It is believed that by providing assurance on the effectiveness of risk management, control and governance processes, internal audit is becoming a "key cornerstone" underlying the effective management. This paper analyzes how internal audit contributes to strengthening the governance processes through its relation with the primary beneficiaries, managers and the Audit Committee. The Audit Committee, focused on oversight of financial reporting, controls and risk management, relies on internal audit to assist in carrying out its responsibilities. Also, internal audit provides advice to managers at all levels and information related to the effectiveness of the internal control and risk management processes as well as other important services. It may be concluded that internal audit activities, through its impact on other participants in governance, affect the quality of corporate governance. Internal audit is an important factor in achieving effective governance and is considered as an "integral part of corporate governance mosaic".

The main objective of this research paper is to examine the relationship between corporate social responsibility (CSR) and financial performance (FP) of the companies included in the official share index of the Zagreb Stock Exchange. CROBEX10® includes shares of 10 companies traded at the regulated market in Croatia. Corporate social responsibility is a factor having an important role in the consumer selection of products and services. Thus, CSR is increasingly gaining in importance because it creates organizational value for a company by giving the ability to differentiate the company from its competitors. All successful companies in the world have recognized the importance of CSR, but not all are equally successful in its implementation. Although many empirical studies found a link between the quality of CSR and the company performance measured by financial indicators, there is still a lot of inconsistency in the results of previous research, mainly due to the factors influencing this relation. The paper starts from the general premise that there is no relationship between CSR and FP, for companies included in CROBEX10®. In this paper common indicators such as the measure of the financial performance (such as ROA and ROE) are determined by using document analysis method. Levels of CSR indicators are evaluated by using content analysis. The relationship between CSR and financial performance is interpreted using descriptive statistics, method of simple regression analysis and factor analysis.