Measuring Industry Concentration of Equity Investment Funds in the Republic of Croatia
AbstractThe overall objective of this work is to investigate further development of the capital markets in the Republic of Croatia with a focus on industry concentration of equity investment funds with a public offering, and the changes that they have experienced since 2004 to date. Visage the Croatian capital market has changed in this period and therefore the aim is to measure investment capital concentration in the industry of equity investment funds. It is required to determine if in industry is perfect equality present or if the investment capital is directed only to a small number of large funds. Uncertainty, distrust, and a great level of risk are characteristics of the capital markets in development, such as Croatia. The aim is to determine whether the size of net assets of investment fund puts safety at the investor, and thus encourages investors to future investment in the fund, which generally speaking, increase the concentration of capital only in funds with a high value of net assets.Process of transition in the Republic of Croatia affected the development of capital markets and the emergence of new participants, namely an open investment fund. The foundations for longterm sustainable growth of the Croatian capital markets are currently still extremely unstable, and development of the market itself is tied to a sense of distrust and insecurity of its participants. It is necessary to investigate, in poorly developed capital market, if investors perceived greater safety of investments in large funds, which are the symptoms of a large concentration of capital in a small number of funds. We will also investigate whether the development of capital markets leads to a reduction of industrial concentration. Research and hypotheses are focused on the industry of equity investment funds with a public offering in the Republic of Croatia.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Faculty of Economics in Osijek, Croatia in its journal Interdisciplinary Management Research.
Volume (Year): 5 (2009)
Issue (Month): ()
Industry concentration; Equity funds; Open investment funds; Herfindahl-Hirschman index; Gini index;
Find related papers by JEL classification:
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Branko Matic, PhD).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.