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Pre and Post Crisis Performance Measurement of Croatian Stock Market

Tihana Škrinjarić ()

Zagreb International Review of Economics and Business, 2014, vol. 17, issue 2, 97-116

Abstract: Performance evaluation of the stock market has been in investors’ focus for many decades. There exist a lot of models, methods and theories that try to provide answers to investors’ questions about securities, portfolio and risk management, etc. When making decisions on these topics, investors take into account different micro and macro aspects, which contribute to the stock market movements. Croatian capital market has undergone different phases of its development in the past decade. The fi nancial crisis affected the Zagreb Stock Exchange as well as it did other markets. Since then, investors are even more careful when handling and employing their resources. There has been a lack of domestic papers that deal with different aspects of performance measurement on the Croatian stock market. Thus, the aim of this paper is to perform measures of stock market development, liquidity, MPT (Modern Portfolio Theory) performance measurements and volatility in order to quantify the stock market performance in the period before and after the fi nancial crisis. In this way conclusions can be made based on the results in order to identify opportunities and threats on the Zagreb Stock Exchange. JEL Classification: C61, G11, G12

Keywords: performance measurement; Zagreb Stock Exchange; stock market development; risk-adjusted performance (search for similar items in EconPapers)
Date: 2014
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Handle: RePEc:zag:zirebs:v:17:y:2014:i:2:p:97-116