Abstract: The aim of this study is to analyze the role and
effectiveness of internal mechanism (audit committee) of corporate
governance on credit institutions performance in Croatia. Based on
research objective, sample of 78 credit institutions listed on Zagreb
Stock Exchange, from 2007 to 2012, has been collected and
efficiency index of audit committee (EIAC) has been created. Based
on the sample and created EIAC, conclusions are as follows: audit
committees of credit institutions have medium efficiency, based on
EIAC measurement; there is a significant difference in audit
committee effectiveness, in observed period; there is no positive
relationship between audit committee effectiveness and credit
institution performance; there is a significant difference between
level of audit committee effectiveness and audit firm type. Future
research should contain increased number of elements in EIAC
creation and increased sample, for all obligators who need to
establish audit committee.
Abstract: Study investigates the level and extent of voluntary disclosure practice in Croatia. The research was conducted on the sample of 130 medium and large companies. Findings indicate that two thirds of the companies analyzed disclose below-average number of additional information. The explanatory analyses has shown that firm size, listing status and industrial sector significantly and positively affect the level and extent of voluntary disclosure in the annual report of Croatian companies. On the other hand, profitability and ownership structure were found statistically insignificant. Unlike previous studies, this paper deals with level of voluntary disclosure of medium and large companies, as well as companies whose shares are not listed on the organized capital market, which can be found as our contribution. Also, the research makes contribution by providing the insights into voluntary disclosure practices in Croatia, as a case of macro-oriented accounting system economy, i.e. bank oriented economy with an emerging capital market.