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Croatian companies lag behind EU companies in on-line business reporting

ZAGREB, March 19 (Hina) - Most Croatian companies have a web site butless than a half publish on the Internet their annual businessreports, information about their supervisory and management boards andinformation for investors, and Croatia still lags behind the EuropeanUnion in this area, shows a survey conducted by the Zagreb School ofEconomics and Management and the East West Management Institute.
ZAGREB, March 19 (Hina) - Most Croatian companies have a web site but less than a half publish on the Internet their annual business reports, information about their supervisory and management boards and information for investors, and Croatia still lags behind the European Union in this area, shows a survey conducted by the Zagreb School of Economics and Management and the East West Management Institute.

The survey, which was conducted in late 2005 and covered 48 companies with the highest turnover at the Zagreb and Varazdin stock markets and other leading companies and banks, shows that 92 percent of companies have a web site and 83 percent a web site in English.

However, only 42 percent of companies publish their annual business reports on the Internet and provide information about their ownership structure. A mere 18.8 percent provide information for investors.

Compared to the 2004 survey, there is a mild improvement - the number of companies with on-line annual business reports grew from 40 percent to 42 percent, and the number of those with additional information on their management rose from 9 percent to 21 percent.

Socially responsible reporting is still rare, with only 13 percent of companies reporting about water and gas consumption. Thirty-eight percent of companies report about their sponsorships and donations.

Companies that are considered to set an example in this area are Pliva, Podravka, Ericsson Nikola Tesla, Privredna Banka Zagreb, INA, HEP and HT.

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