IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Early warning systems - empirical evidence

Listed author(s):
  • Nidžara Osmanagić Bedenik


    (Faculty of Economics and Business, University of Zagreb)

  • Alexandra Rausch

    (Department of Controlling and Strategic Management,Alpen-Adria-Universität Klagenfurt)

  • Davor Labaš

    (Faculty of Economics and Business, University of Zagreb)

Despite the importance of early warning systems (EWS) in revealing weak signals on environmental changes and in constructing a solid base for timely and appropriate business response, particularly against the backdrop of business crises, empirical evidence - especially at the country level - still lags behind. The aim of this paper is to contribute to the practical and theoretical knowledge about EWS by providing empirical evidence from companies located in three different European countries, i.e. Croatia, Austria and Greece. We propose that companies in richer countries, as measured in terms of GDP, have a higher implementation level of EWS and are more likely to meet current state-of-the-art EWS standards while companies in the countries with a lower GDP show a lesser level of development. Moreover, we explore the reasons for not implementing EWS. For our survey we used a structured questionnaire. Contrary to our hypotheses, there are no significant differences among the countries concerning the level of EWS implementation. However, there are some differences as to the kind of EWS. Overall, EWS are predominately short-term oriented and operating in all three countries. The main reasons for not implementing EWS are the shortage of employees and the lack of management initiatives.

If 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.

File URL:
Download Restriction: None

Article provided by Faculty of Economics and Business, University of Zagreb in its journal Tržište.

Volume (Year): 24 (2012)
Issue (Month): 2 ()
Pages: 201-218

in new window

Handle: RePEc:zag:market:v:24:y:2012:i:2:p:201-218
Contact details of provider: Postal:
Trg J.F.Kennedya 6, 10000 Zagreb

Phone: +385 1 233-5633
Fax: +385 1 238-3333
Web page:

More information through EDIRC

Order Information: Postal: Tržište/Market, Faculty of Economics and Business, Trg J. F. Kennedy 6, 10000 Zagreb, Croatia.
Web: Email:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

in new window

  1. Felton, Andrew & Reinhart, Carmen M. (ed.), 2009. "The First Global Financial Crisis of the 21st Century Part II: June–December, 2008," Vox eBooks, Centre for Economic Policy Research, number p199, December.
  2. Salvatore, Dominick, 1999. "Could the Financial Crisis in East Asia Have Been Predicted?," Journal of Policy Modeling, Elsevier, vol. 21(3), pages 341-347, May.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:zag:market:v:24:y:2012:i:2:p:201-218. See general 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: (Tanja Komarac)

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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.