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Globalization is a heavily debated phenomenon and can be studied from many perspectives. In the present paper the perspective of the discourse of management is presented. Management as an idea and as practice is also a critically contested phenomenon in today's fast changing world. In this paper managerial discourse as an aspect of globalization is studied. The concepts of globalization, managerialism and managerial discourse are introduced and their interdependence is described. Special attention is given to the process of the so-called transition in Slovenia and its connection to the concepts of managerialism and managerial discourse. During the process of transition from one economic and political system to another, managerial discourse became adopted in Slovenia and soon constituted itself as a standard or even dominant discourse in business and economics. Some examples are drawn from Slovene newspapers and other publications to demonstrate first the difference between the socialist (self-management) discourse and managerial discourse, and second, to demonstrate the diffusion of managerial discourse to other spheres of social and political life.

The paper discusses reasons of the failure of the Slovenian government's pension reform proposal in general referendum based on statistical analysis of public opinion polls and content analysis of referendum campaign. In the time of economic crisis and in the context of general anti-reform mood, the pension reform bringing reduction of existing rights didn't have much chances to succeed from the very beginning. Opinion polls show that low public support to the government was crucial for the reform proposal failure. Support to the reform proposal was denied by voters gravitating towards the political centre, by those who don't support the government coalition, by non-partisan voters and by those with secondary and lower education. Since they represent the largest part of the electoral body, no referendum can succeed without their support. The most important arguments used in the referendum campaign were those related to (in)justness of the proposed reform and to (un)founded macroeconomic arguments for the reform. Thus, if a structural reform is put on the referendum, a high public support to the government proposing the reformand the perception that, in spite of its urgency and unpleasantness, thereform is essentially fair, are crucial conditions for its adoption. Članek s statistično analizo javnomnenjskih anket in z vsebinsko analizo referendumske kampanje ugotavlja dejavnike neuspeha vladnega predloga pokojninske reforme. Pokojninska reforma, ki po vsebini nujno pomeni krčenje nekaterih zdajšnjih pravic, je bila v obdobju gospodarske krize in v kontekstu splošne vrednotne naravnanosti proti reformam že v izhodišču težko uresničljiva. Podatki javnomnenjskega anketiranja kažejo, da je bila za neuspeh ključna nizka podpora vladi. Podporo referendumu so odrekli politično sredinsko usmerjeni volivci, tisti ki ne podpirajo vladne koalicije, strankarsko neopredeljeni in ljudje s srednješolsko in poklicno izobrazbo. Ti so največji del volilnega telesa, zato noben referendum brez njihove podpore ne more uspeti. V referendumski kampanji so bili najpomembnejši argumenti glede (ne)pravičnosti predlagane reforme in (ne)utemeljenosti makroekonomskih razlogov za reformo. Če se torej o strukturnih reformah odloča na referendumu,sta višja podpora vladi, ki reformo predlaga, in percepcija, da je reforma kljub nujnosti in neprijetnosti v osnovi pravična, ključna pogoja zanjen sprejem.

International Financial Reporting Standards (IFRS), used by more than 27,000 listed companies in about 100 countries around the world, are considered “investor-oriented” accounting standards. Instead, most national accounting standards in Europe could be defined as “creditor-oriented” standards, primarily focused on the financial information needs of creditors and, to a certain extent, tax authorities. In this sense, national accounting standards can be seen as typical of “weak equity” accounting systems, while IFRS exhibit all the characteristics of "strong equity" accounting systems. Even if EU Regulation No. 1606/2002 allows Member States to extend the use of IFRS beyond the scope of the Regulation itself, in most EU countries the close link between financial reporting and taxation has often represented an obstacle to full IFRS adoption by private companies, or even for the preparation of the individual financial statements of listed companies. Previous studies have investigated the accounting choices of private companies, explaining how they are mostly related to company size, auditor reputation, opportunities for growth, and the presence of a parent company reporting under IFRS. One of the factors often cited in several studies is the correlation between financial leverage and voluntary adoption of IFRS. Our aim is to determine whether the choice of adopting IFRS has an impact on private companies’ credit scoring. We compare a sample of about 1,000 Italian private companies that adopted IFRS voluntarily, representing almost the entirety of voluntary adopters in Italy, with a control sample of non-adopters to correlate their credit scoring, provided by a rating agency, with their choice to adopt IFRS and with other financial and governance variables. We believe that our research investigates the voluntary adoption of IFRS by private companies from a new perspective, allowing us to shed some light on the connections between financial reporting practices in creditor-oriented financial systems and access to credit financing.

During the last two years we have witnessed substantial changes on the labour markets across the world, whereas the Covid-19 pandemic has directly accelerated some processes that, primarily due to globalization and technological advances, have been present on the labour market for quite some time. Remote work, but also greater emphasis on the balance between the private and working life, are just some examples. There are also a number of new forms of work, such as platform work or job sharing, that were not present on the labour market just a few years ago. At the same time, countries of the Western world are facing significant labour shortages, primarily due to demographic processes. However, the regulatory setting is lagging behind the changes already present in the world of work. Hence, the discussion on both the labour legislation changes, as well as the changes in the tax system, that should bring more flexibility, but also higher wages and worker satisfaction, is currently highly on the agenda in the public discourse in most of the EU countries.

Financial statements are beneficial to users when the underlying economic relationships are presented clearly and concisely, thereby improving the comparability and understandability of financial information. In order to improve these qualitative characteristics, the International Accounting Standards Board (IASB) has published in December 2019, as part of its Primary Financial Statements project, an Exposure Draft “General Presentation and Disclosures” (ED /2019/7) to replace IAS 1 “Presentation of Financial Statements”. The aim of this paper is to analyse the main changes proposed by the IASB to the structure of the financial statements, highlight their advantages and disadvantages, and engage with the relevant literature.

Mindful consumption is an evolving and still debated phenomenon, often referred to sustainability. It is pursued by consumers who believe they can contribute to improving the environment and society also through their purchasing and consumption decisions. Numerous articles, with even divergent results, underline the importance of studies on the intrinsic motivations behind conscious purchasing attitudes and choices and their relationships. Among the various motivations, the literature has also considered religious values, which can represent a crucial antecedent for understanding the phenomenon of purchasing and consumption. In marketing literature, however, there are still few studies that examine religious values from a purchasing and consumption behaviour point of view, whereas other disciplines, such as sociology and psychology, have long recognized the relevance of these values. This paper, based on suggestions from previous studies, tries to fill this gap, and presents the first results of a larger study that has its theoretical basis on a specific model of conscious consumption.

Managed Simulation Games (MSIM) have great potential in education. They represent a step forward from the current way of working with students, as they allow interactive work relations, promoting independent work, creative thinking, decision making, independence from others, and creating a positive attitude towards learning. MSIM is becoming an increasingly powerful educational tool that perfectly complements traditional learning methods by stimulating learning through experience, motivating students to work and introducing into the business world through simulation. MSIM also plays an important role in the business where it is used for talent detection, training and scenario analysis, whereby by adjusting simulation games MSIM allows a particular company to investigate the consequences of specific decisions about the business of the company. The aim of our research is to perform bibliometric analysis of the literature on simulation games. For the purpose of our study, the Scopus database was used to search scientific publications published before March 2020, with the help of the following keyword combinations TITLE-ABS-KEY ("simulation games" OR "simulation game"). We found 2038 scientific papers in various subject areas, among which 11.8% are in the field of Business, Management and Accounting. Among 439 scientific papers, 13 were excluded, i. e. notes, erratum, editorials, and retracted, which resulted in 426 papers. Those were included in the preliminary bibliometric analysis. The following information was extracted from the articles: year of publication, number of publications for specific journals, institutions and organizations that published most articles, as well as country of origin of the article. The next step was to perform a average-link hierarchical cluster analysis. The Unweighted Pair Group Mean Averaging method and Jaccard's coefficient similarity measure to determine relationships of phrases that occur in proximity. This is represented by a dendrogram, which allows for analysis of meaningful and strong connections between phrases. The bibliometric analysis showed most results done on simulation games are from computer science, engineering and social sciences. Most of the authors of scientific publications are from United States of America. We also looked at the top 10 most important phrases in regards to simulation games and preformed the cluster analysis. The results of this study bring value for both business and academy, as it shows research trends in the field of simulation games.

According to the recent perspective of inbound marketing (Halligan e Shah 2014), the aim of marketing should be to gain the interest of potential customers and draw them to the company website, rather than to send out communication to customers and wait for their reaction. However, competing on the web to appear early in search results can prove to be difficult. Moreover, depending on the industry and country, different players and typologies of websites might influence the competitive online environment (Peterson & Merino 2003; Huang, Lurie & Mitra 2009; Lemon & Verhoef 2016). This research aims at mapping the role of different players in the wine industry in different countries when it comes to organic search results. In particular, through online research and with a cross-country perspective, it has the aim of answering the following questions: What are the categories of players defining the online competitive arena in organic search marketing results for wines in different countries? Do these categories of players vary depending on the wine type and country?

Organizational values play an increasingly important role in contemporary organizations—they intertwine all segments of business and greatly affect the direction of the organization's business strategy. The purpose of this paper is to point out that organizational values that permeate all business segments in modern business conditions make the foundation for business excellence of organizations. In this regard, we first introduce Kanji's Business Excellence Model (KBEM) as a starting point for understanding business excellence, according to which business excellence is determined by measuring satisfaction level of customers, employees and other stakeholders in order to get a comprehensive assessment of the organizational performance. The specificity of KBEM is that this model consists of two main aspects—leadership and organizational values. In the central part of the paper, we present the case study of "Yum! Brands", as one of the world's largest fast food companies. Particular emphasis is placed on the detailed presentation and explanation of the basic organizational values of "Yum! Brands" Company based on two sources of information—espoused values listed on the official web site of the company, as well as various external sources of information in which external stakeholders are assessing the company's value orientation. Finally, we analyzed organizational values of "Yum! Brands" Company from the perspective of KBEM, and this case study showed that organizational values are the real foundation for business excellence in "Yum! Brands" Company. In this context, we considered the relationship between organizational values and key components of KBEM. This study can therefore serve as an example of putting organizational values into the function of increasing organizational performance, with the ultimate goal of creating organizational excellence.

Since its accession to the European Union, Croatia has witnessed a strong increase in economic migration. The outflow of the working- active population is primarily caused by high unemployment rate compared to the European Union average, but low wages are also significant factor. Wages in Croatia are lower when compared both to the European Union average and to the average of Central and Eastern European countries. Although in all social research, including the economic ones as well, Central and Eastern European countries are often viewed as one, homogeneous whole, there are many differences between them in various areas of human activity. Wage disparities are just one of them. The labor market is a very complex issue and there is a lot of discussion concerning economic policies that should respond to the challenges in this market. As one of the very important factors in the labor market, labor market institutions are recently mentioned. Their influence on labor market is the subject of many scientific research in developed economies. They are usually referred to as collective organizations such as trade unions, legislative frameworks of public policies, and more delicate factors such as employer-employee relations that all together affect wage and employment determination. Given that all these factors exist and act in today's labor markets, it is obvious that most of the population supports them and considers them as a positive and influential factor. Motivated by the above- mentioned Croatian economic situation, we decided to investigate this claim. In this paper we use panel regressions to determine whether labor market institutions, such as mentioned syndical power, rigidity of legislations and employer- employee relations play important role for wage determination and wage disparities in Central and Eastern European countries. We also use a set of control variables such as inflation, productivity differentials, tax burden, stage of economic cycle and labor market activity. Key contribution of this paper is that it represents the first analysis of the effects of institutional labor market factors on wage disparities in this region.

This research identifies the current practice in managing organizational values in the largest companies at the global level and compares these results with a sample of Croatian companies. In doing so, the key question examined is whether contemporary companies are developing balanced organizational values, meaning that they evenly promote different categories of values aimed at satisfying the interests of different stakeholders at the same time. To answer that question, we considered Schwartz's values model and the Competing Values Framework – two of the most influential approaches that consider balanced values in modern business literature – as well as one of the newest approaches, the Mission-based model of organizational values. Using a sample of Fortune 100 companies, the most relevant list of world's largest companies, the espoused organizational values of these companies were identified using the content analysis method, the most commonly used method for mapping espoused values. The espoused values of Fortune 100 companies were identified, and each specific identified value was then classified into a specific category of values according to the three aforementioned value models. Our findings indicate current trends in the field of managing organizational values from the perspective of different value categories, thus questioning the importance of developing balanced values in contemporary global business environment. At the same time, we conducted a study of 24 large Croatian companies to identify actual (attributed) organizational values of these companies. A total of 813 employees filled out the questionnaire. After identifying specific attributed organizational values in observed Croatian companies, these values were also classified according to the three aforementioned value models. Finally, the paper presents a comparison of the espoused organizational values of world's largest companies with the attributed organizational values of large Croatian companies, all based on three different value models. The results suggest that regardless of the approach used for comparison of the two observed samples, there is a significant difference in the structure of organizational values among them. This distinction suggests that the world's largest companies declaratively promote essentially different business principles than those dominantly present in the largest Croatian companies. Considering the relatively high uncompetitiveness of the Croatian economy in the global environment, perhaps it is finally time to pay more attention to the management of values in Croatian companies. In doing so, the world's largest (and in general most successful) companies could serve as an excellent example.

It is already widely known, from existing academic literature, that CRM can be observed throughout four dimensions - customer identification, customer attraction, customer retention and customer development. Although, diverse sources commonly provide a bright, extensive and clear description of data mining approaches applied to the particular CRM dimension there is no systematic synthesis related to the correlation between the DM, CRM dimensions and business fields (e.g. banking, telecommunication, e-commerce, computer industry, etc.). Moreover, it is very interesting to ask the question: In the era of Big data and irrefutable wide usage of DM in the CRM can we detect and prove discrepancies between business sectors and application of the effective DM techniques in the single CRM dimension? This paper gives an answer to the posed question by reviewing relevant primary and secondary sources of the application of DM techniques to the listed four CRM dimensions related to different business sectors in the period 2006 - 2016. Proposed research model has been comprised of three dimensions - 2D base consists of the DM techniques and CRM dimensions and it is a well-known model that can be found in several sources, while the third dimension is represented with business fields. The most important finding of this paper indicates the high impact of DM on CRM dimensions in all business fields with high interaction with customers, or in other words business sectors that provide different services to customers. Conducted study has been limited only toward detection of relationships between DM and business fields in the four-dimensional CRM model and as such can be seen as a preliminary study that gives pointers for further research efforts on finding effective DM approaches that can be applied to CRM development in different business fields. Besides that, our analysis and synthesis provide interesting insight into customers’ privacy issues that explicitly or implicitly arises in most recent studies on the application of DM techniques in the frame of the contemporary CRM systems. In that sense, we suggest an extension of the four-dimensional CRM model with root dimension which refers to a customer privacy. This root dimension permeates all four dimensions in the classical 4D CRM model. Extended four-dimensional CRM model with the root customer privacy dimension has been given as a possible direction of future investigations that will show or refute justification of its use.

One of the key elements in every economy is the pension system. It is well known that the Croatian pension system is somewhat “stretched” with the ratio between the number of employed people and that of retired ones being unfavourable in long term. However, this paper is not focused on the demographic indicators but on the way that pension funds operate, which were established in 2002 within the pension reform that was supposed to solve this problem. To be exact, this paper is focused on the significant operating segment of the current pension funds – the fees that are charged to its contributors, as well as the operating costs they encounter in their operations. The forms of fees, that the pension funds charge, are very diverse. There are fixed commission, fees on contributions, fees on assets, fees on return, switching fee, and exit fee among others. The question is whether the stronger competition among the funds influence the level and number of these fees. Furthermore, this paper explores the validity of these fees considering the level of operating costs obtained by the pension funds. The pension fund management companies have expenses for running the fund such as transaction expenses, agent sales and marketing expenses as well as expenses made by company itself such as material expenses, personnel expenses, amortisation, and reservations. By putting the charged fees and the operating costs of the pension funds, expressed as a percentage of the overall assets under management, in a ratio, one can get an interesting indicator for analysis. Since the goal of this paper is to analyse the mentioned segment of pension funds operations in the international context, it was very important to select the pension funds of those countries that are similar to Croatia from the geographical, economic, and socioeconomic point of view. Therefore, the main data source for this paper are the databases on pension funds made by the Organisation for Economic Co- operation and Development (OECD), as well as the databases and annual reports of the Croatian Financial Services Supervisory Agency (HANFA). Beside these, other useful sources were the European Insurance and Occupational Pensions Authority (EIOPA), Eurostat and Croatian National Bank (HNB). Therefore, one of the methods applied will be a thorough statistical analysis, while the detailed analysis of current situation in different European countries will be carried out by using comparative and descriptive methods. When the results of the analysis covering the period between 2010 and 2014 are observed, it is obvious that the Croatian pension funds management companies are spending relatively small amounts (0, 56% of the assets value) for fund management compared to other countries. When put into the context of relatively high returns that Croatian funds achieved, it could be concluded that they operate successfully and bring value to its contributors with charging relatively small fees.

Implementation of Directive on disclosure of non- financial and diversity information in EU member states represents the first step in making this segment of reporting mandatory. Although, only some companies (mostly the largest undertakings and public interest entities) will be obligated to issue non- financial reports, the number of disclosed reports on corporate social responsibility and sustainability issues is expected to increase significantly. The Croatian Accounting Act has been adjusted to the requirements of this Directive, thus the non- financial reporting has become mandatory in Croatia, at least for some companies. However, compared to some other EU member states the number of companies obligated to prepare the non- financial report is higher due to wider definition of public interest companies. Currently, only a small proportion of Croatian companies disclose non-financial reports on voluntary basis. These are mostly large companies operating in manufacturing sector. However, the number of issued non- financial reports will increase in year 2017 as a result of mentioned Directive implementation.