This article titled “The effect of the COVID-19 pandemic on the Croatian economy” deals with exceedingly current events triggered by the pandemic, which have reflected on the national and global economy. Based on the currently...

The results of empirical analyses confirm that analysed unsystematic factors, the Stock-to-Flow index (S2F), and information on the Bitcoin (BTC) are directly correlated with BTC values. These results are expected and in line with the economic theory; however, this research paper aimed to investigate the impact of unsystematic factors on the value of decentralised virtual cryptocurrency BTC. Its aim was also to analyse the reasons for significant oscillations of market values in relation to the S2F and S2FX model and thus confirm the reliability of these models in the estimation of BTC value. The research further confirms the strong influence of non-technical information directly linked with the BTC. The limitations of this paper are the lack of possibilities for examining the impact of non-technical information affecting the Bitcoin price deviation regarding the S2F model. In addition to all mentioned limitations, the research results indicate the relevance of the S2F and S2FX models and show a strong impact of (half) the information on the value of cryptocurrencies.

CENTRAL EUROPEAN BUSINESS REVIEW the need for strategic orientation of companies through the application of strategic controlling instruments in the practice of Croatian companies to increase the efficiency and effectiveness of their operations.

Controlling represent company's bloodstream and in time degrees crisis, it comes to the fore since management strives for quality information's to make the right decisions under uncertain conditions. Those quality decisions come from joint cooperation between well-educated controllers who can develop the right solutions and managers who are goal-oriented and need those solutions promptly. This need is more emphasized in times of corona crisis since nothing similar has ever happened before. The authors of the paper examine the respondents' perception about the contribution of controlling in enabling companies' survival in time of corona crisis through the increase of business process efficiency, as well as through business operations reorientation and strategy adjustment which enabled maintenance and stabilization in the first days of the corona crisis and during partial lockdown in Croatia. In order to test the set hypotheses after the usual descriptive statistics the Kruskal- Wallis H test was used on a sample of 180 companies in Croatia. A statistically significant correlation was confirmed between the role of controlling i) in increasing the efficiency of business processes; ii) in adjusting the business reorientation; iii) in adjustment of business strategy. All employees from different hierarchical levels are aware the contribution and effectiveness of controlling in the corona crisis. This research is the basis for further research on role of controlling in times of crises.

Turizam je od velikog značaja za gospodarstvo Hrvatske. Svake godine, za vrijeme ljetneturističke sezone, željno se očekuju statistike o broju dolazaka, noćenja i ostvarenih prihoda. Sve djelatnosti vezane za turističku sezonu imaju posrednu ili neposrednu korist od turističke sezone. Ulazak Hrvatske u Europsku uniju 2013. značajno je utjecao na hrvatski turizam te je pridonio većoj konkurentnosti ponude i kvaliteti usluge. Stranim investitorima tako je omogućen lakši ulazak u Hrvatsku, a turizmu novi kapital i investicije. Cilj je rada istražiti u kojoj mjeri prihodi od turizam utječu na bruto društveni proizvod (BDP) Republike Hrvatske. S obzirom na to da su prihodi od turizma oko 20 % BDP-a, može se zaključiti da je hrvatsko gospodarstvo ovisno o turizmu i turističkoj sezoni. Turizam je u Hrvatskoj značajan pokretač gospodarstva, ali izrazito sezonalan i osjetljiv na vanjske čimbenike.

Social media significantly impacts the dynamics and move-ment of stock and cryptocurrency markets. The perfect market hypothesis assumes that all available information is already embed-ded in stock prices, meaning that only some announcements will affect the market price of a company’s stock. The efficient market hypothesis and anomalies that cause certain deviations apply to both stock and cryptocurrency markets. Social networks like Twitter, Facebook, and Reddit are significant tools for promoting cryptocurrencies. This paper aims to explore the influence of social media on market price move-ments, using Tesla stock and Bitcoin as examples. The conclusion is that Musk’s Tweet Effect demonstrates an anomaly of market over-reaction and impacts the price movements of Bitcoin and Tesla stocks.