No abstract

Banks are the most important …nancial intermediaries and major providers of institutionalized loan …nancing in the economic systems worldwide. Externalities of their activities a¤ ect the economy deeply. Therefore, regulation of their behavior is of utmost importance for the general public. In addition, national and supranational prudential authorities request various forms and extents of mandatory disclosure. Nevertheless, voluntary disclosure is being recognized by the banks as a mechanism of asymmetric expectations'reduction and con…dence enhancement of current and potential both shareholders and stakeholders. Upgrading information availability and updating its quality might be a useful way of reducing the probability of systemic banking crisis as well as a useful tool for improving market discipline. However, the causes and consequences of banks' disclosure of accounting and other information are still challengeable issues in …nan-cial literature. In that regard, the purpose of the paper is to explore the determinants of Croatian banks' online disclosure of …nancial information. Bank speci…c and industry speci…c factors of disclosure are being empirically examined using univariate and multivariate statistical methods. Further research objective is to compare the volume and the structure of mandatory disclosed information using content analysis. It is expected that banks with higher transparency achieve signi…cantly better …nancial performance. However, the paper does not empirically investigate bene…ts or drawbacks of both mandatory and voluntary disclosure. For all the aforementioned reasons the paper might be provide useful insights for academics, students of economics and, most of all, for the general public, especially depositors as major providers of bank funds.

This study seeks to explain management control systems (MCS) design as a package of controls within a Croatian context. MCS was conceptualized in terms of four dimensions: cybernetic, reward and compensation, administrative and cultural controls to form a composite measure of MCS. The strength of the typology lies in the broad scope of the controls in MCS as a package rather than the depth of its discussion of individual systems. This is one of few research studies conducted in the field of MCS in Croatia. Empirical research is based on the data collected from 124 companies in Croatia using a post questionnaire. The final results indicate that companies in Croatia most frequently use more formalized MCS tested using confirmatory factor analysis. This research confirms the multidimensional nature of MCS.

The author wants to thank the two anonymous reviewers for insightful comments and suggestions.