Potential Movement Determinants of the Zagreb Stock Exchange Debt Index - CROBIS

CROBIS is the official Zagreb Stock Exchange debt index, and includes both government and state agency bonds listed on the Zagreb Stock Exchange under the criteria of at least 18 months’ time to maturity and bullet bonds at fixed interest rates. The aim of the work is to determine the statistical effect, the direction and intensity of potential determinants of CROBIS movement by a multiple linear regression model. Potential determinants whose impact of the movement of CROBIS is being examined, as the independent variable regression model, is the total regular daily turnover of ZSE, regular daily turnover of the stock composition CROBEX, daily turnover achieved outside the electronic order book of the Zagreb Stock Exchange or OTC daily turnover on the ZSE and daily CROBEX points. Conducted research will provide a model that, with some exceptions, can predict the movement of CROBIS bond index in the future on the basis of data regarding the independent variables.