The CROBEX in the EU. The CROBEX under the influence of Croatia's EU-accession

Thèse de Bachelor , 2014 , 57 Pages

Gestion d'entreprise - Banque, Bourse, Assurance

The EU integration process is a complex process which introduces many economical and social changes. The new introduced member state is willing to integrate and adapt to the EU's "blueprint". On one side this process brings a lot of benefits; such as abolishment of borders, new job possibilities and in general a chance for a better economy and social wealth. But on the other side it also means that individuality and identity need to play secondary role.

The capital market is a very important fundament in a national economy. The influence of an EU accession on the capital market and its main index, is the essence of this thesis. The CROBEX, Croatia's main index, will be the investigation instrument, the youngest since Croatia is the youngest member in the EU.
The thesis is divided into two main parts. The first part will introduce the fundamentals of the financial market and the complexity of the EU accession progress. Further the complexity of investors reaction and interpretation is made, by presenting different types of events which can influence the stock market. The two main integration categories, which is partly the effect of the EU accession, are presented at the end of this part.
The second part presents the main content of this thesis, Croatia. The process of its EU accession and current economical situation is presented firstly. Followed by an insight of its financial market, the thesis finishes with the analysis of how the EU accession of Croatia did influence its index CROBEX.

Table of Content

Abstract

Abbreviation

List of Figures

1. Introduction
1.1 Problem Statement
1.2 Research Question

2. Financial markets and the European Union
2.1 The Fundamentals of financial markets
2.1.1 Classifying different types of financial markets
2.1.2 Basic Definitions for stock market analysis
2.1.3 Factors influencing the value of a stock
2.1.3.1 Political andmacroeconomic events
2.2 Economic Integration in the European Union
2.2.1 History and integration process
2.2.2 Effects ofEuropean Integration on the economies and financial markets of. member states

Part II: Empirical Case Study for Croatia

3. Overview of Croatia's EU accession and current economic situation
3.1 Characteristics
3.2 Croatia's EU accession
3.2.1 History
3.2.2 Accession problems
3.2.3 Croatia the 28'th member state
3.3 Main economic indicators
3.3.1. Unemployment
3.3.2 Growth
3.3.3 Inflation
3.3.4 Indebtedness in foreign countries
3.3.5 Trade industry

4. Croatia's Financial Market
4.1 Financial system and stock market
4.2 ZSE - Zagreb Stock Exchange
4.2.1 CROBEX
4.2.1.1 Development of the CROBEX

5. The stock market effect of the EU accession: Analysis of CROBEX
5.1 Analytical part I: fluctuations during accession negotiations
5.2 Analytical part II: economic effect
5.2.1 The economic effect of the EU accession
5.2.2 CROBEX chart 2007 - 2014
5.3 Main findings

6. Conclusion

7. References

8. Appendix

• Université: University of Southern Denmark
• Auteur: Henrik Fürst (Auteur)
• Année de publication: 2014
• Pages: 57
• N° de catalogue: V353527
• ISBN (ebook): 9783668396371
• ISBN (Livre): 9783668396388
• Langue: anglais
• mots-clé: crobex, croatia, eu-accession