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The Effects Of The Corporate Governance System On Innovation Activities In Croatia

Domagoj Račić   ORCID icon orcid.org/0000-0001-8380-9996 ; Centre for Strategy and Development, Zagreb, Hrvatska
Vladimir Cvijanović   ORCID icon orcid.org/0000-0003-4600-3103 ; Faculty of Economics and Business, Zagreb, Croatia
Zoran Aralica   ORCID icon orcid.org/0000-0001-6290-5866 ; Institute of Economics, Zagreb, Croatia

Puni tekst: engleski, pdf (160 KB) str. 101-114 preuzimanja: 3.123* citiraj
APA 6th Edition
Račić, D., Cvijanović, V. i Aralica, Z. (2008). The Effects Of The Corporate Governance System On Innovation Activities In Croatia. Revija za sociologiju, 39 (1-2), 101-114. Preuzeto s https://hrcak.srce.hr/26528
MLA 8th Edition
Račić, Domagoj, et al. "The Effects Of The Corporate Governance System On Innovation Activities In Croatia." Revija za sociologiju, vol. 39, br. 1-2, 2008, str. 101-114. https://hrcak.srce.hr/26528. Citirano 16.10.2021.
Chicago 17th Edition
Račić, Domagoj, Vladimir Cvijanović i Zoran Aralica. "The Effects Of The Corporate Governance System On Innovation Activities In Croatia." Revija za sociologiju 39, br. 1-2 (2008): 101-114. https://hrcak.srce.hr/26528
Harvard
Račić, D., Cvijanović, V., i Aralica, Z. (2008). 'The Effects Of The Corporate Governance System On Innovation Activities In Croatia', Revija za sociologiju, 39(1-2), str. 101-114. Preuzeto s: https://hrcak.srce.hr/26528 (Datum pristupa: 16.10.2021.)
Vancouver
Račić D, Cvijanović V, Aralica Z. The Effects Of The Corporate Governance System On Innovation Activities In Croatia. Revija za sociologiju [Internet]. 2008 [pristupljeno 16.10.2021.];39(1-2):101-114. Dostupno na: https://hrcak.srce.hr/26528
IEEE
D. Račić, V. Cvijanović i Z. Aralica, "The Effects Of The Corporate Governance System On Innovation Activities In Croatia", Revija za sociologiju, vol.39, br. 1-2, str. 101-114, 2008. [Online]. Dostupno na: https://hrcak.srce.hr/26528. [Citirano: 16.10.2021.]

Sažetak
The paper tackles the implications of the system of corporate governance on the level and prevalent modes of innovation activities and ways in which innovations are developed, financed and implemented within enterprises. The paper aims to contribute to the discussions on corporate governance and innovation by explaining the interrelationship between institutional conditions, corporate strategies related to innovation, and innovation activities, and by applying the framework to Croatia, as a (post-)transition country with a specific developmental pattern. However, the current debate about the effects of basic systems of corporate governance (Anglo-American and continental European) in relation to innovative activities cannot be adequately applied to (post-)transition countries. In Croatia, despite regulatory and capital market-related improvements in the last decade, the system of corporate governance is still relatively underdeveloped; as such, it is insufficiently conducive to innovation. The effectiveness of a national innovation system is reflected in the complexity of innovative activities within firms and their effects on competitiveness of firms and sectors. The corporate governance system currently seems inadequate for development of a knowledge-based economy, because it primarily supports non-complex innovation activities. This is reflected in the marginalization of innovation within corporate strategies, which lead to their low economic effects. The lack of cooperative stakeholder relationships precludes risk sharing that could facilitate innovation projects with higher value added. This can partly be addressed by external investments (accompanied by technological and managerial improvements) into greenfield projects and established companies - especially innovative small and medium-sized enterprises with a high growth potential.

Ključne riječi
CORPORATE GOVERNANCE; INSTITUTIONS; NATIONAL INNOVATION SYSTEM; INNOVATION ACTIVITIES; CROATIA

Hrčak ID: 26528

URI
https://hrcak.srce.hr/26528

[hrvatski]

Posjeta: 4.578 *