European Financial Systems 2015: Proceedings of the 12th International Scientific Conference Cover Image

European Financial Systems 2015: Proceedings of the 12th International Scientific Conference
European Financial Systems 2015: Proceedings of the 12th International Scientific Conference

Author(s): Petr Valouch, Svetlana V. BEKAREVA, Ekaterina N. MELTENISOVA, Daria Prokhorova, Katarína Belanová, Agnieszka Bem, Paweł Prędkiewicz, Paulina Ucieklak-Jeż, Rafal Siedlecki, Karina Benetti, Miloš Bikár, Miroslav KMEŤKO, Hana Bohušová, Alžběta Srnova, Pavlina Brabcová, Zuzana Brokešová, Tomáš Ondruška, Erika Pastoráková, Barbora Chmelíková, Martin Svoboda, Viktória Čejková, Michal Fabuš, Oleg Deev, Martin Hodula, Ján Dobrovič, Anton Korauš, Bohuslava Doláková, Tomáš Dráb, Nadiya Dubrovina, Jana Péliová, Jiří Dvořák, Karel Urbanovský, Martina Jankova, David Ficbauer, Hana Florianová, Ján Gogola, Matúš GREGA, Juraj Nemec, Eva Grmanová, Peter Haiss, Wolfgang Rainer, Gerhard Fink, Taťána Hajdíková, Štěpánka Ondoková, Lenka Komárková, Martina Hedvičáková, Libuše Svobodová, Irena Honková, Jonáš Výbora, Ján Horvát, Eva Horvátová, Juraj Hruška, Jana Hvozdenská, Veronika Kajurová, Věra Jančurová, Anna Jędrzychowska, Ilona Kwiecien, Pavla Jindrová, Kateřina Seinerová, František Kalouda, Özcan Karahan, Mária Klímková, Martin Vovk, Róbert Štefko, Ján Dobrovič, Petra Kozakova, Tomáš Krabec, Percy Venegas, Jan Krajíček, Miroslav Krč, Vladimír Golik, Marian Kršiak, Jiří Dvořák, Michal Kuběnka, Aneta Bolečkova, Oleksandra Lemeshko, Veronika Končikova, Oldřich Rejnuš, Dagmar Linnertová, Silvie Kafková, Nikolay Markov, Svetlana Vladislavovna Maltseva, Andrey Dmitriev, Grzegorz Michalski, Emilia Brożyna, Joanna Soroczynska, Dmitry Mitin, Maria Ginzburg, Nadezhda Yashina, Krystyna Mitręga-Niestrój, Blandyna Puszer, Peter Mokrička, Dennis Nchor, VÁCLAV KLEPÁČ, František Ochrana, Milan Půček, Zuzana Brokešova, Dalibor Pánek, Martina Pokorna, Miroslav Sponer, Ewa Poprawska, Ryszard Pukała, Peter Adamišin, Jaroslav Sedláček, Roman Skalicky, Rafał Siedlecki, Daniel Papla, Barbora Smoradová, Ivan Soukal, Jan Draessler, Jana Steklá, Petr Suchánek, Maria Králová, Irena Szarowská, Łukasz Szewczyk, Jana Šimáková, Michal Šindelář, Ľudomír Šlahor, Peter Stanko, Tomáš Urbanovský, Eva Vávrová, Jana Vodáková, Joanna Wyrobek
Subject(s): National Economy, Supranational / Global Economy, Business Economy / Management, Public Administration, Economic policy, Government/Political systems, Public Finances, Fiscal Politics / Budgeting, Marketing / Advertising, Tourism, ICT Information and Communications Technologies, Transport / Logistics
Published by: Masarykova univerzita
Keywords: Investment activity; Profitability; Debt; Global economy; Transport; Taxes and Fees; Economic performance of Czech Republic; Slovakia; Business cycle; Tax policy; Capital structures; Financial models; Investors;
Summary/Abstract: Dear readers,It is my pleasure to introduce you a collection of papers from the 12th annual international scientific conference The European Financial Systems 2015 organized annually by Department of Finance of the Faculty of Economics and Administration, Masaryk University in Brno, Czech Republic. This year's conference was focused especially on the current issues related to new regulation of financial markets, banks and insurance companies and their products and efficiency, different accounting and tax systems, corporate finance, public finance, financing of non-profit organizations and financial literacy. Because the collection of papers presents the latest scientific knowledge in this area, I believe you will get a number of new insights usable both for your scientific, and educational or practical activities. I would also like to express my conviction that we meet each other in occasion of the 13th year of this conference held in 2016.

  • E-ISBN-13: 978-80-210-8028-7
  • Page Count: 719
  • Publication Year: 2015
  • Language: English
Evaluation of Investment Activity in the SR through the Development of Gross Fixed Capital Formation

Evaluation of Investment Activity in the SR through the Development of Gross Fixed Capital Formation
(Evaluation of Investment Activity in the SR through the Development of Gross Fixed Capital Formation)

Profitability versus Debt in Hospital Industry

Profitability versus Debt in Hospital Industry
(Profitability versus Debt in Hospital Industry)

Natural Disasters and their Impact on Long-term Growth

Natural Disasters and their Impact on Long-term Growth
(Natural Disasters and their Impact on Long-term Growth)

Global Economy, Monetary Policies and their Impact on Financial Markets

Global Economy, Monetary Policies and their Impact on Financial Markets
(Global Economy, Monetary Policies and their Impact on Financial Markets)

The Effect of a New Lease Reporting in Transport Companies

The Effect of a New Lease Reporting in Transport Companies
(The Effect of a New Lease Reporting in Transport Companies)

Fees or Taxes - The Hamlet Question for the Czech Municipality

Fees or Taxes - The Hamlet Question for the Czech Municipality
(Fees or Taxes - The Hamlet Question for the Czech Municipality)

Economic and Demographic Determinants of Life Insurance Industry Development

Economic and Demographic Determinants of Life Insurance Industry Development
(Economic and Demographic Determinants of Life Insurance Industry Development)

Comparative Study: The Financial Literacy of Students of Economics and Finance versus Students of Law

Comparative Study: The Financial Literacy of Students of Economics and Finance versus Students of Law
(Comparative Study: The Financial Literacy of Students of Economics and Finance versus Students of Law)

Management of Insurance Mediation for Small and Medium Enterprises

Management of Insurance Mediation for Small and Medium Enterprises
(Management of Insurance Mediation for Small and Medium Enterprises)

European Evidence on the Long-Run Superneutrality of Money

European Evidence on the Long-Run Superneutrality of Money
(European Evidence on the Long-Run Superneutrality of Money)

Management Trends in Slovakia's Tax Revenue Administration and its Process Model for Slovakia's Economic Performance

Management Trends in Slovakia's Tax Revenue Administration and its Process Model for Slovakia's Economic Performance
(Management Trends in Slovakia's Tax Revenue Administration and its Process Model for Slovakia's Economic Performance)

Capital Structure and Credit Risk in the Czech Republic

Capital Structure and Credit Risk in the Czech Republic
(Capital Structure and Credit Risk in the Czech Republic)

Performance of Actively Managed Funds in Various Stages of Business Cycle

Performance of Actively Managed Funds in Various Stages of Business Cycle
(Performance of Actively Managed Funds in Various Stages of Business Cycle)

Optimal Strategies for Tax Policy and Social Policy Tools Mix

Optimal Strategies for Tax Policy and Social Policy Tools Mix
(Optimal Strategies for Tax Policy and Social Policy Tools Mix)

The Options of Adaptive Modeling Environment in Cyberspace of Secure Electronic Banking

The Options of Adaptive Modeling Environment in Cyberspace of Secure Electronic Banking
(The Options of Adaptive Modeling Environment in Cyberspace of Secure Electronic Banking)

Holding Company, Reasons for Creation, Advantages and Disadvantages

Holding Company, Reasons for Creation, Advantages and Disadvantages
(Holding Company, Reasons for Creation, Advantages and Disadvantages)

Influence of Volatility on Hedging Strategies

Influence of Volatility on Hedging Strategies
(Influence of Volatility on Hedging Strategies)

Premium Calculation for Critical Illness Products

Premium Calculation for Critical Illness Products
(Premium Calculation for Critical Illness Products)

Competitiveness in Slovak and Czech Public Procurement and its Effect on the Final Price

Competitiveness in Slovak and Czech Public Procurement and its Effect on the Final Price
(Competitiveness in Slovak and Czech Public Procurement and its Effect on the Final Price)

Efficiency of National Life Insurance Markets in Europe

Efficiency of National Life Insurance Markets in Europe
(Efficiency of National Life Insurance Markets in Europe)

Efficiency in Two-stage Data Envelopment Analysis: An Application to Insurance Companies

Efficiency in Two-stage Data Envelopment Analysis: An Application to Insurance Companies
(Efficiency in Two-stage Data Envelopment Analysis: An Application to Insurance Companies)

Foreign Currency Loans in Central and Eastern Europe: Did Regional Euro Internationalization Worsen Credit Quality?

Foreign Currency Loans in Central and Eastern Europe: Did Regional Euro Internationalization Worsen Credit Quality?
(Foreign Currency Loans in Central and Eastern Europe: Did Regional Euro Internationalization Worsen Credit Quality?)

Financial Models in the Nonprofit Sector

Financial Models in the Nonprofit Sector
(Financial Models in the Nonprofit Sector)

Analysis of Banking Fees and Clients' Needs

Analysis of Banking Fees and Clients' Needs
(Analysis of Banking Fees and Clients' Needs)

Financial Results of the Company Depending upon Accounting Procedures (Comparison of the Czech Accounting Standards and IAS/IFRS)

Financial Results of the Company Depending upon Accounting Procedures (Comparison of the Czech Accounting Standards and IAS/IFRS)
(Financial Results of the Company Depending upon Accounting Procedures (Comparison of the Czech Accounting Standards and IAS/IFRS))

Development of Oil Prices and Key Determinants Influencing its Development

Development of Oil Prices and Key Determinants Influencing its Development
(Development of Oil Prices and Key Determinants Influencing its Development)

Coverage of Mortgage Bonds as Important Condition of Investor's Confidence

Coverage of Mortgage Bonds as Important Condition of Investor's Confidence
(Coverage of Mortgage Bonds as Important Condition of Investor's Confidence)

Optimal Sampling for the Detection of Market Microstructure Noise

Optimal Sampling for the Detection of Market Microstructure Noise
(Optimal Sampling for the Detection of Market Microstructure Noise)

Sovereign Bond Spreads as a Predictors of Gross Domestic Product Growth in North America

Sovereign Bond Spreads as a Predictors of Gross Domestic Product Growth in North America
(Sovereign Bond Spreads as a Predictors of Gross Domestic Product Growth in North America)

Behavioral Biases: Analyzes of Investment Strategies

Behavioral Biases: Analyzes of Investment Strategies
(Behavioral Biases: Analyzes of Investment Strategies)

Size of Compensation for Personal In juries Offered by the Currant Coverage Plans in Medical Liability Insurance

Size of Compensation for Personal In juries Offered by the Currant Coverage Plans in Medical Liability Insurance
(Size of Compensation for Personal In juries Offered by the Currant Coverage Plans in Medical Liability Insurance)

Classification of Work-related Accidents as the Basis of Analysis of Employer's Liability Risk and Insurance Decisions

Classification of Work-related Accidents as the Basis of Analysis of Employer's Liability Risk and Insurance Decisions
(Classification of Work-related Accidents as the Basis of Analysis of Employer's Liability Risk and Insurance Decisions)

Bayesian Estimates of the Regional Costs in Public Health System of the Czech Republic

Bayesian Estimates of the Regional Costs in Public Health System of the Czech Republic
(Bayesian Estimates of the Regional Costs in Public Health System of the Czech Republic)

The Banking System of the Czech Republic as a Cybernetic System - a Unit Step Response Analysis

The Banking System of the Czech Republic as a Cybernetic System - a Unit Step Response Analysis
(The Banking System of the Czech Republic as a Cybernetic System - a Unit Step Response Analysis)

Exchange Rate Pass-Through in Turkey under Inflation Targeting Regime

Exchange Rate Pass-Through in Turkey under Inflation Targeting Regime
(Exchange Rate Pass-Through in Turkey under Inflation Targeting Regime)

Latest Developments in Banking Regulation in tee European Union

Latest Developments in Banking Regulation in tee European Union
(Latest Developments in Banking Regulation in tee European Union)

Acqusition Activity in Financial Sector

Acqusition Activity in Financial Sector
(Acqusition Activity in Financial Sector)

Net Working Capitol across Sectors in toe Czech Republic

Net Working Capitol across Sectors in toe Czech Republic
(Net Working Capitol across Sectors in toe Czech Republic)

Profit versus Cash Flow in Sectors of toe Czech Republic

Profit versus Cash Flow in Sectors of toe Czech Republic
(Profit versus Cash Flow in Sectors of toe Czech Republic)

Fields: Investigating the Visibility of the Flows in Digital Business

Fields: Investigating the Visibility of the Flows in Digital Business
(Fields: Investigating the Visibility of the Flows in Digital Business)

The Impact of Interbank Interest Rates to Banks' Profit

The Impact of Interbank Interest Rates to Banks' Profit
(The Impact of Interbank Interest Rates to Banks' Profit)

Resource Accounting and Budgeting for Managing Personnel Costs and the Amount of Capital Expenditures in the UK Armed Forces

Resource Accounting and Budgeting for Managing Personnel Costs and the Amount of Capital Expenditures in the UK Armed Forces
(Resource Accounting and Budgeting for Managing Personnel Costs and the Amount of Capital Expenditures in the UK Armed Forces)

Definition of Electronic Banking Crisis Management in Financial Markets Cyberspace

Definition of Electronic Banking Crisis Management in Financial Markets Cyberspace
(Definition of Electronic Banking Crisis Management in Financial Markets Cyberspace)

Determination and Analysis of Actual IN05 Accuracy in Prediction of Creditworthiness

Determination and Analysis of Actual IN05 Accuracy in Prediction of Creditworthiness
(Determination and Analysis of Actual IN05 Accuracy in Prediction of Creditworthiness)

Compulsory Insurance of Liability for Environmental Damage: Arguments and Consequences

Compulsory Insurance of Liability for Environmental Damage: Arguments and Consequences
(Compulsory Insurance of Liability for Environmental Damage: Arguments and Consequences)

Application of Gravity Framework to Bilateral Mutual Fund Flows in the Asia Pacific Region

Application of Gravity Framework to Bilateral Mutual Fund Flows in the Asia Pacific Region
(Application of Gravity Framework to Bilateral Mutual Fund Flows in the Asia Pacific Region)

Timing Abilities of Mutual Funds in Countries of the Central and Eastern Europe

Timing Abilities of Mutual Funds in Countries of the Central and Eastern Europe
(Timing Abilities of Mutual Funds in Countries of the Central and Eastern Europe)

Cross-sectional Analysis of Short Sale Determinants in the U.S. Market Sectors

Cross-sectional Analysis of Short Sale Determinants in the U.S. Market Sectors
(Cross-sectional Analysis of Short Sale Determinants in the U.S. Market Sectors)

Application of the Nonlinear Oscillations Theory to toe Study of Non-equilibrium Financial Market

Application of the Nonlinear Oscillations Theory to toe Study of Non-equilibrium Financial Market
(Application of the Nonlinear Oscillations Theory to toe Study of Non-equilibrium Financial Market)

Cash Levels and its Role in Full Operating Cycle Enterprises: 2005-2013 Czech, Slovak, Hungarian and Polish Enterprises Case

Cash Levels and its Role in Full Operating Cycle Enterprises: 2005-2013 Czech, Slovak, Hungarian and Polish Enterprises Case
(Cash Levels and its Role in Full Operating Cycle Enterprises: 2005-2013 Czech, Slovak, Hungarian and Polish Enterprises Case)

Political Uncertainty as an Economic Risk Factor: the Regional Perspective from Russia

Political Uncertainty as an Economic Risk Factor: the Regional Perspective from Russia
(Political Uncertainty as an Economic Risk Factor: the Regional Perspective from Russia)

The Threats of the Banking Union for foe Polish Banking Sector

The Threats of the Banking Union for foe Polish Banking Sector
(The Threats of the Banking Union for foe Polish Banking Sector)

Systematization of Modem Structured Products according to the Parameters Common to all these Instruments

Systematization of Modem Structured Products according to the Parameters Common to all these Instruments
(Systematization of Modem Structured Products according to the Parameters Common to all these Instruments)

Comparing Stock Market Efficiency with Detrended Fluctuation Analysis

Comparing Stock Market Efficiency with Detrended Fluctuation Analysis
(Comparing Stock Market Efficiency with Detrended Fluctuation Analysis)

Prediction of Oil Depletion in Ghana Based on Hubbert's Model

Prediction of Oil Depletion in Ghana Based on Hubbert's Model
(Prediction of Oil Depletion in Ghana Based on Hubbert's Model)

Evaluation Criteria for Public Procurement

Evaluation Criteria for Public Procurement
(Evaluation Criteria for Public Procurement)

Identification of the Consumer of Insurance Services: Evidence from the Slovak Republic

Identification of the Consumer of Insurance Services: Evidence from the Slovak Republic
(Identification of the Consumer of Insurance Services: Evidence from the Slovak Republic)

Lebanese Loop and Protection Techniques against this Type of Fraud

Lebanese Loop and Protection Techniques against this Type of Fraud
(Lebanese Loop and Protection Techniques against this Type of Fraud)

The Interest Rates of tee Central Bank and tee Banking Sector

The Interest Rates of tee Central Bank and tee Banking Sector
(The Interest Rates of tee Central Bank and tee Banking Sector)

The Costs of Deflation: Are they Really so High?

The Costs of Deflation: Are they Really so High?
(The Costs of Deflation: Are they Really so High?)

Analysis of the Effectiveness of Selected New Types of Bonus-Malus Systems - A Simulation Approach

Analysis of the Effectiveness of Selected New Types of Bonus-Malus Systems - A Simulation Approach
(Analysis of the Effectiveness of Selected New Types of Bonus-Malus Systems - A Simulation Approach)

Vienna Insurance Group's Development on the Slovak Insurance Market between 2005 and 2013

Vienna Insurance Group's Development on the Slovak Insurance Market between 2005 and 2013
(Vienna Insurance Group's Development on the Slovak Insurance Market between 2005 and 2013)

Unit-linked Insurances as an Element that Shapes the Savings Portfolio of Households in Poland after the Accession to the European Union

Unit-linked Insurances as an Element that Shapes the Savings Portfolio of Households in Poland after the Accession to the European Union
(Unit-linked Insurances as an Element that Shapes the Savings Portfolio of Households in Poland after the Accession to the European Union)

Contemporary Development of the European Monetary Union and its Risk Factors

Contemporary Development of the European Monetary Union and its Risk Factors
(Contemporary Development of the European Monetary Union and its Risk Factors)

The Brand in Accounting and Economic Concepts - Comparison of the Czech and the International Approach

The Brand in Accounting and Economic Concepts - Comparison of the Czech and the International Approach
(The Brand in Accounting and Economic Concepts - Comparison of the Czech and the International Approach)

Valuation of Companies in an Early Stage of Development Using S-curve

Valuation of Companies in an Early Stage of Development Using S-curve
(Valuation of Companies in an Early Stage of Development Using S-curve)

Assessment of Institutions of Financial Education and Literacy in the Czech Republic, the Slovak Republic and the United Kingdom of Great Britain and Northern Ireland

Assessment of Institutions of Financial Education and Literacy in the Czech Republic, the Slovak Republic and the United Kingdom of Great Britain and Northern Ireland
(Assessment of Institutions of Financial Education and Literacy in the Czech Republic, the Slovak Republic and the United Kingdom of Great Britain and Northern Ireland)

Could Financial Literacy Overcome Price Information Asymmetry: Empirical Study

Could Financial Literacy Overcome Price Information Asymmetry: Empirical Study
(Could Financial Literacy Overcome Price Information Asymmetry: Empirical Study)

Labour Costs and Capital Employed of Limited Liability Companies in the Czech Republic

Labour Costs and Capital Employed of Limited Liability Companies in the Czech Republic
(Labour Costs and Capital Employed of Limited Liability Companies in the Czech Republic)

Relationship between Estimated Value of Public Contract and its Price

Relationship between Estimated Value of Public Contract and its Price
(Relationship between Estimated Value of Public Contract and its Price)

Impact of Selected Value Drivers on the Performance of Companies in the Manufacturing Industry

Impact of Selected Value Drivers on the Performance of Companies in the Manufacturing Industry
(Impact of Selected Value Drivers on the Performance of Companies in the Manufacturing Industry)

Consumer Satisfaction and Enterprise Performance

Consumer Satisfaction and Enterprise Performance
(Consumer Satisfaction and Enterprise Performance)

Evaluation of Financial Strategy in Agricultural Companies

Evaluation of Financial Strategy in Agricultural Companies
(Evaluation of Financial Strategy in Agricultural Companies)

Is Methodology Based on Rights-of-use Transfer Suitable for SMEs Lease Reporting?

Is Methodology Based on Rights-of-use Transfer Suitable for SMEs Lease Reporting?
(Is Methodology Based on Rights-of-use Transfer Suitable for SMEs Lease Reporting?)

The Payment Cards and their Utilization in the Czech Republic

The Payment Cards and their Utilization in the Czech Republic
(The Payment Cards and their Utilization in the Czech Republic)

Relationship between Government Bond Yield Spread and Fiscal Fundamentals in Selected EU Countries

Relationship between Government Bond Yield Spread and Fiscal Fundamentals in Selected EU Countries
(Relationship between Government Bond Yield Spread and Fiscal Fundamentals in Selected EU Countries)

The Role of ECB as a Supervisory Authority within European Union

The Role of ECB as a Supervisory Authority within European Union
(The Role of ECB as a Supervisory Authority within European Union)

Augmented Gravity Model of International Trade: An Empirical Application to Poland's Trade Flows

Augmented Gravity Model of International Trade: An Empirical Application to Poland's Trade Flows
(Augmented Gravity Model of International Trade: An Empirical Application to Poland's Trade Flows)

The Analysis of Market Concentration of Audit Services in the Czech Republic

The Analysis of Market Concentration of Audit Services in the Czech Republic
(The Analysis of Market Concentration of Audit Services in the Czech Republic)

Monetary Aggregates and Consumer Price Inflation in the Euro Area

Monetary Aggregates and Consumer Price Inflation in the Euro Area
(Monetary Aggregates and Consumer Price Inflation in the Euro Area)

Relationships between Health Care Services and Health System Outcomes - Empirical Study on Health System Efficiency

Relationships between Health Care Services and Health System Outcomes - Empirical Study on Health System Efficiency
(Relationships between Health Care Services and Health System Outcomes - Empirical Study on Health System Efficiency)

Nexus of Ruble Exchange Rate and Other Macroeconomic Factors in the Period of Recent Economic Instability

Nexus of Ruble Exchange Rate and Other Macroeconomic Factors in the Period of Recent Economic Instability
(Nexus of Ruble Exchange Rate and Other Macroeconomic Factors in the Period of Recent Economic Instability)

The Possibilities of Modem Simulation Modeling of Electronic Banking in Cyberspace of Information Society

The Possibilities of Modem Simulation Modeling of Electronic Banking in Cyberspace of Information Society
(The Possibilities of Modem Simulation Modeling of Electronic Banking in Cyberspace of Information Society)

Impact of Mergers of Czech Companies on their Value Added

Impact of Mergers of Czech Companies on their Value Added
(Impact of Mergers of Czech Companies on their Value Added)

Insurance Solutions of Covering Agricultural Risks: The Case of the Czech Republic

Insurance Solutions of Covering Agricultural Risks: The Case of the Czech Republic
(Insurance Solutions of Covering Agricultural Risks: The Case of the Czech Republic)

The Long-term Assets Reporting in the Czech State Administration Organizations

The Long-term Assets Reporting in the Czech State Administration Organizations
(The Long-term Assets Reporting in the Czech State Administration Organizations)

What is the Future of Public Expenditure in the European Countries?

What is the Future of Public Expenditure in the European Countries?
(What is the Future of Public Expenditure in the European Countries?)

The Conflict between the Frequency of the Polish Firms' Liquidity Problems and the Polish Bankruptcy Law Interpretation

The Conflict between the Frequency of the Polish Firms' Liquidity Problems and the Polish Bankruptcy Law Interpretation
(The Conflict between the Frequency of the Polish Firms' Liquidity Problems and the Polish Bankruptcy Law Interpretation)

Socio-economic Situation of the Countries and their Public Debt: Perspective 2015

Socio-economic Situation of the Countries and their Public Debt: Perspective 2015
(Socio-economic Situation of the Countries and their Public Debt: Perspective 2015)

Financial Literacy: An International Comparison between Germany and the Czech Republic

Financial Literacy: An International Comparison between Germany and the Czech Republic
(Financial Literacy: An International Comparison between Germany and the Czech Republic)