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Factoring Perspective: Croatia Vs European Union

Author

Listed:
  • Baresa, Suzana

    () (Faculty of Tourism and Hospitality Management in Opatija, University of Rijeka, Croatia)

  • Bogdan, Sinisa

    () (Faculty of Tourism and Hospitality Management in Opatija, University of Rijeka, Croatia)

  • Ivanovic, Zoran

    () (Faculty of Tourism and Hospitality Management in Opatija, University of Rijeka, Croatia)

Abstract

This paper points out the problems of liquidity, disposal and obtaining funds, inability to collect receivables, delayed payments in times of economic and financial instability and dynamic business upheavals and uncertainty. As a contribution to resolve these issues new alternative methods of financing for business are imposing, one of them is factoring. Although most countries don’t have adequate legal framework, factoring has emerged as the dominant form of financing, whose current status and development points to the prospects of development in the future. In terms of measures and actions which are taken to combat these issues, as well as legislation, many efforts are made at international level in European Union and in Croatia. Overview and description of the factoring development, and indications for further development are presented in relation to the world, the European Union and the Republic of Croatia. This paper also describes factoring comparison among European countries.

Suggested Citation

  • Baresa, Suzana & Bogdan, Sinisa & Ivanovic, Zoran, 2012. "Factoring Perspective: Croatia Vs European Union," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 3(2), pages 141-166.
  • Handle: RePEc:ris:utmsje:0057
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    File URL: http://utmsjoe.mk/files/Vol.%203%20No.%202/1-4-Baresa-Bogdan-Ivanovic.pdf
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    More about this item

    Keywords

    factoring; liquidity; delayed payments; Republic Croatia; European Union; receivables;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • G35 - Financial Economics - - Corporate Finance and Governance - - - Payout Policy
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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