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While trust is widely recognized as central to the establishment of an effective market economy, research on transition economies has not examined sufficiently its role in promulgating economic development. This study seeks to ascertain the links between supplier trust, asset specificity, and uncertainty reduction in the context of a transition economy, and to validate a measure of trust developed in a Western developed market economy in the conditions of a transition economy.

A confirmatory factor analysis of trust, asset specificity and uncertainty reduction was performed with a sample of Bulgarian small business owners.

Commensurate with expectations, supplier trust is significantly and positively associated with both asset specificity and uncertainty reduction. The six‐item measure of supplier trust is a valid measure for new and small ventures in the context of a transition economy.

This paper demonstrates that private entrepreneurs in transition economies compensate for the lack of institutional support through embeddedness in their relational exchange network.

Businesses nowadays face unprecedented pressures from stakeholder groups to become more transparent by issuing comprehensive reports describing their environmental, social and governance (ESG)-related activities, strategies and policies. This paper’s primary motivation is to understand which ESG disclosure factors are relevant for large Czech companies.

To achieve the above-stated goal, the total ESG disclosure index, consisting of three subindexes (ESG) was constructed and calculated for the 100 largest Czech companies. Furthermore, the relationships between firm-level factors and ESG disclosure indexes were estimated by using censored regression models.

This study found that revenue, number of employees and profitability positively influenced the total ESG disclosures. On the level of the three ESG components, this study found that revenue positively impacted environmental and governance disclosures while the number of employees positively affected social and governance disclosures. Moreover, profitability affected social and governance disclosures positively for large Czech companies. However, this study did not observe a significant relationship between board attributes and ESG disclosures.

This paper extends academic literature on ESG disclosures by verifying the significance of firm-level factors in the context of Czech business realities before the adoption and transposition of the Corporate Sustainability Reporting Directive. More specifically, this study has investigated the ESG reporting together and separately for ESG factors. This separation is vital as firms vary in reporting processes across these factors.

This paper aims to analyze the influence of international trade of goods of Croatia in the period from 2001 till 2010. The study shows contribution of exports and imports of goods on the real GDP growth, in time which represented the global economic crisis, of Croatia in comparison to other European countries in the region. International trade has developed as a fast solution from the crisis of every affected national economy.

To determine previous comprehension of the problems of this research, the data were collected by documentary analysis of domestics and foreign scientific and academic literature. The data were complemented by statistics provided by Croatian Bureau of Statistics, Croatian National Bank, Eurostat and authors' own calculations of the data collected. The paper aims to clarify the level of international trade of goods, imports dependency, exports propensity, and degree of openness and involvement of Croatia in the international trade of goods.

This study implies that for the Croatian economy, its growth and the development, it is important to raise profit in exports which would result in higher coverage of imports by exports. Main focus in this research is to explore the Croatian industry, its development, competitiveness and international integration; thereby investigate foreign trade of goods. Exports of goods don't have a significant positive contribution to the realised GDP growth rate of Croatia such as other countries in the region.

It is suggested that international market success depends on the competitive ability of all business subjects included in the international trade.