o:28659 What is the Real State of Financial Management in Companies in the Republic of Serbia? en Abstract: Research Question: This paper focuses on the basic financial decision making practices of domestic companies and their knowledge of the operational risk management concept. Motivation: Chief Financial Officers (CFOs) play a significant role in the company’s development and achieving the company’s objectives (Van Horne & Wachowicz, 2007). Different authors carry out research based on one of the fields of finances-related decision making, such as Graham & Harvey, 2001. The goal of this research is to show that the difference in the decision making process concerning companies’ finances and risk management depends on the company’s ownership structure. Idea: The paper is aimed at the recognition of differences found in corporate decision making, relating both to capital budgeting and capital structure, dividend payout policy and risk management concept, depending on the ownership structure. Data: During the first half of 2016, a research consisting of 392-companies sample operating in the Republic of Serbia was conducted, including all four listed fields concerning their economic operations. Nevertheless, only a total of 54 CFOs completed and handed back the distributed questionnaires. Tools: Some basic descriptive statistics techniques, one-way analysis of variance (ANOVA) and Kruskal-Wallis test were ap- plied throughout the entire data analysis, while data processing involved the use of standard statistical package IBM SPSS 20.0. Findings: As shown by research findings, there is a notable difference in decision making, both as regards dividend payout and as regards risk management concept, depending on the types of ownership, with companies operating in our domestic market. The future research will concentrate on practice of companies merging both domestic and foreign enti- ties, in order to determine whether a similar pattern might be found. Contribution: Furthermore, the research is intended to be complemented by the data contained in the official financial reports of those companies, with a view to ascertaining whether the statements made by their CFOs are actually applied in the corporate practice. Keywords: CFO, capital budgeting, capital structure, dividend payout policy, risk management 1552099 10.7595/management.fon.2018.0002 1552101 1820-0222 2023-04-07T08:17:06.661Z 44 no 46 Goran Petković Univerzitet u Beogradu Ekonomski fakultet 12635751 0000-0001-7304-9751 Snežana Konjikušić person Lidija Barjaktarović person Renata Pindžo person application/pdf 360606 https://phaidrabg.bg.ac.rs/o:28659 no yes 18 70 92000001 11A03 Management: Journal of Sustainable Business and Management Solutions in Emerging Economies 24 2 23 34 2019