We approached the issue of blockholding effectiveness and behaviour by studying some exemplary organisational transformations in the Republic of Srpska. We found two distinct clusters of blockholdings. The first cluster is workerentrenched blockholdings, where most workers are unionised. The second cluster constitutes worker-liberal blockholdings, where most workers are not unionised. There are two distinct subgroups in this cluster. The vast majority of blockholdings in the first subgroup developed a prevailing role of the capital owner, heavyweight management and a less trained workforce. The second subgroup nurtures reciprocity of management and core workers' cognitive assets, and is also the most productive. Wir haben die Wirksamkeit und das Verhalten von Großaktionären anhand von organisationalen Transformationen in der Republik Srpska erforscht. Wir entdeckten zwei verschiedene Gruppen von Großaktionären. Die erste Gruppe besteht aus fest verwurzelten Arbeiternehmer-Großaktionären, wobei die meisten Arbeitnehmer gewerkschaftlich organisiert sind. Die zweite Gruppe umfasst liberale Arbeitnehmer-Großaktionäre, wobei die meisten Arbeiter nicht gewerkschaftlich organisiert sind. Es gibt zwei verschiedene Untergruppen in dieser Gruppierung. Die große Mehrheit der Großaktionäre in der ersten Untergruppe entwickelte eine dominante Rolle der Kapitaleigner, ein starkes Management und weniger gut ausgebildete Arbeitskräfte. Die zweite Untergruppe fördert die Wechselwirkung zwischen dem kognitiven Vermögen von Management und Kernarbeitern und stellt zudem die produktivste Gruppe dar.

PurposeThe purpose of this research is to show the impact of the pandemic on the budget of Bosnia and Herzegovina (BiH) as a developing country. It also aims to give an answer as to how BiH politicians used budgetary measures to respond to the pandemic and what key economic factors influenced the design of those measures.Design/methodology/approachThe study conducted detailed analyses of budgets at level of central government, as well as other publicly available documents of relevant governments bodies, international statistics and media reports up to the end of June 2020.FindingsDecline of economic activity and a number of budgetary measures adopted by central BiH authorities under the influence of characteristics of BiH economy, characteristics of public finance and available source of funding, resulted in less government revenues and sizable government expenditures to assist the economy and public health system. The fiscal stability achieved over the past years and low level of debt allowed BiH authorities to build a deficit into the rebalanced budget. Most of the deficit was covered with the International Monetary Fund (IMF) assistance and in part also through internal borrowing and with surpluses/ deferral revenues from the previous year.Research limitations/implicationsAt this point, it is impossible to predict what kind of impact the pandemic-related crisis will have on BiH public finances and whether further economic interventions will be needed.Originality/valueThis paper shows the measures that developing country governments dependent on external funding sources can take in times of crisis and what their impact is on the budget.

Rad obuhvata analizu prinosnog, imovinskog i finansijskog položaja privrede u Bosni i Hercegovini (Republici Srpskoj i Federaciji BiH)u periodu od 2013. do 2015. godine, što znači da nije obuhvatio i poslovanje privrede u Brčko Distriktu BiH. Analiza se zasniva nametodologiji koja se primjenjuje i za finansijsku analizu poslovnih entiteta.Rezultati analize pokazuju da se 2015. u odnosu na 2014. godinu prinosni, imovinski i finansijski položaj privreda Republike Srpske i FBiHpoboljšava.

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