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New Economic Challenges: 2nd International PhD Students Conference. 20. 1. – 21. 1. 2010 Cover Image

New Economic Challenges: 2nd International PhD Students Conference. 20. 1. – 21. 1. 2010
New Economic Challenges: 2nd International PhD Students Conference. 20. 1. – 21. 1. 2010

Contributor(s): Petr Červinek (Editor), Petr Musil (Editor)
Subject(s): Politics / Political Sciences, Politics, Economy, Essay|Book Review |Scientific Life, National Economy, Business Economy / Management, Micro-Economics, Economic policy, Government/Political systems, Conference Report, Financial Markets, Public Finances, Fiscal Politics / Budgeting, Accounting - Business Administration, Socio-Economic Research
Published by: Masarykova univerzita nakladatelství
Keywords: Financial markets; Capital and pension system; active investing; Czech Republic; Slovak Republic; Capital market; International banking; Czech insurance policy; Accounting and Taxation; Fiscal policy;
Summary/Abstract: The aim of the conference is to provide the PhD students and postdocs with a forum for presentations of their research papers, obtaining feedback from conference participants and moderators, and building-up useful contacts for scientific research and sharing experience.

  • E-ISBN-13: 978-80-210-8698-2
  • Page Count: 429
  • Publication Year: 2010
  • Language: English
SPECIAL PURPOSE ENTITIES AS A FORM OF OFFBALANCE SHEET FINANCING

SPECIAL PURPOSE ENTITIES AS A FORM OF OFFBALANCE SHEET FINANCING
(SPECIAL PURPOSE ENTITIES AS A FORM OF OFFBALANCE SHEET FINANCING)

  • Author(s):Veronika Bučková
  • Language:English
  • Subject(s):Business Economy / Management, Financial Markets
  • Page Range:8-15
  • No. of Pages:8
  • Keywords:Off-balance sheet financing; special purpose entity; risk transfer; securitization; consolidation of SPE;
  • Summary/Abstract:The paper is focused on special purpose entities as a form of off-balance sheet financing. It examines special purpose entities as a form of off-balance sheet financing, their characteristics and reasons for their creation. Furthermore, it is engaged in the possibilities of consolidation of SPE.
KERNEL BASED ASSET PRICING

KERNEL BASED ASSET PRICING
(KERNEL BASED ASSET PRICING)

  • Author(s):Péter Erdősi, Mihály Ormos, Dávid Zibriczky
  • Language:English
  • Subject(s):Evaluation research, Financial Markets
  • Page Range:16-23
  • No. of Pages:8
  • Keywords:asset pricing; kernel regression; risk measures; semiparametric models;
  • Summary/Abstract:We test the nullhypothesis of linearity of the Capital Asset Pricing Model (CAPM), we aim to test whether or not there is a linear relationship between risk and return (security market line) and between the return of a given stock and the return of the market portfolio (characteristic line). On the other hand, we question the validity of linearity when we derive the market risk measure. If we can reject the linearity of the characteristic line, new risk measures are required to derive.
EMERGING MARKETS IN EAST AND CENTRAL EUROPE

EMERGING MARKETS IN EAST AND CENTRAL EUROPE
(EMERGING MARKETS IN EAST AND CENTRAL EUROPE)

  • Author(s):Stanislaw Kaszuba
  • Language:English
  • Subject(s):Economic history, Financial Markets, Globalization
  • Page Range:24-29
  • No. of Pages:6
  • Keywords:Emerging markets; Warsaw Stock Exchange (WSE); Wiener Börse AG;
  • Summary/Abstract:Key characteristics of East and Central Europe Stock Exchange Markets can be seen as similar. The aim of this article is to try place Stock Exchange Markets in Poland, Czech Republic, Austria and Hungary as one multinational East and Central European Emerging Markets.
VENTURE CAPITAL AND PENSION SYSTEM

VENTURE CAPITAL AND PENSION SYSTEM
(VENTURE CAPITAL AND PENSION SYSTEM)

  • Author(s):Gábor Dávid Kiss
  • Language:English
  • Subject(s):National Economy, Government/Political systems, Welfare systems, Political economy
  • Page Range:30-34
  • No. of Pages:5
  • Keywords:second pillar; pension portfolio; innovation; FDI; venture capital;
  • Summary/Abstract:This study deals with the possible link between pension funds, venture capital and innovation to manage the challenge of aging. Institutional capacities of Hungarian second pillar is engrossed by the reallocation of it's bond and stock portfolio - therefore "exotic" investments as selected investment into the real economy by means of venture funds is uninterested. Innovative SME-s have low share on venture capital market of Visegrad countries. This is inconnection with the neofordist or knowledge user profile of the subnational regions of these countries.
THE COMPARISON OF THE INDEX INVESTING WITH THE ACTIVE INVESTING

THE COMPARISON OF THE INDEX INVESTING WITH THE ACTIVE INVESTING
(THE COMPARISON OF THE INDEX INVESTING WITH THE ACTIVE INVESTING)

  • Author(s):Petr Málek, Dagmar Linnertová
  • Language:English
  • Subject(s):Business Economy / Management, Financial Markets
  • Page Range:35-40
  • No. of Pages:6
  • Keywords:Collective investment; investment funds; passive and active investment; ETFs; investment certificates;
  • Summary/Abstract:The aim of this proceeding is comparison of the active managed funds performance with index managed instruments (their performance is reflected by a market index) that can be represented by index certificates (very popular in the Europe) or ETFs funds with an index underlying (popular in the United States). The comparison will be implemented in a particular time period and in particular markets.
PENSION REFORM IN THE CZECH REPUBLIC

PENSION REFORM IN THE CZECH REPUBLIC
(PENSION REFORM IN THE CZECH REPUBLIC)

  • Author(s):Taťána Lyčková
  • Language:English
  • Subject(s):Government/Political systems, Welfare systems, Socio-Economic Research
  • Page Range:41-46
  • No. of Pages:6
  • Keywords:Pension schemes; reform; insurance; PAYG (pay-as-you-go) financing;
  • Summary/Abstract:Currently, the situation of the state pension schemes is being reformed in many European countries due to the demographic changes (increasing number of the people drawing pensions and decreasing number of the people contributing to the social insurance scheme). Even the Czech Republic could have insolvency problem if no changes of the current pension scheme based on the PAYG (pay-as-you-go) financing are implemented.
THE IMPORTANT ISSUES OF THE CONVERSION TO THE EURO IN THE SLOVAK REPUBLIC

THE IMPORTANT ISSUES OF THE CONVERSION TO THE EURO IN THE SLOVAK REPUBLIC
(THE IMPORTANT ISSUES OF THE CONVERSION TO THE EURO IN THE SLOVAK REPUBLIC)

  • Author(s):Daniela Maťovčíková
  • Language:English
  • Subject(s):EU-Accession / EU-DEvelopment, Financial Markets
  • Page Range:47-53
  • No. of Pages:7
  • Keywords:The euro; the European Union; the Eurozone; the currency changeover; the euro illusion;
  • Summary/Abstract:While the debut of the euro and the foundation of the Eurozone at the beginning of 1999 amounted to a very important point in the international monetary system, Slovakia was not directly affected. At that time the country only kept hoping to enter the European Union, never imagining that a membership in the Eurozone could possibly take the place almost promptly afterwards.
COMPULSORY RELEASE OF INFORMATION PUBLISHED ON THE CAPITAL MARKET

COMPULSORY RELEASE OF INFORMATION PUBLISHED ON THE CAPITAL MARKET
(COMPULSORY RELEASE OF INFORMATION PUBLISHED ON THE CAPITAL MARKET)

  • Author(s):Kristyna Chalupecka, Damian Czudek, Michaela Moždiáková
  • Language:English
  • Subject(s):Evaluation research, Financial Markets
  • Page Range:54-62
  • No. of Pages:9
  • Keywords:disclose information; quoted securities;
  • Summary/Abstract:In this paper, we will focus in the first place on the analysis of primary legislation, which concerns the protection of the capital market and the investors on the capital market. This is avery current topic, particularly in relation to changes brought about by the recent implementation of the EU regulation.
CORPORATE SOCIAL RESPONSIBILITY IN THE INTERNATIONAL BANKING

CORPORATE SOCIAL RESPONSIBILITY IN THE INTERNATIONAL BANKING
(CORPORATE SOCIAL RESPONSIBILITY IN THE INTERNATIONAL BANKING)

  • Author(s):Tomasz Piotr Murawski
  • Language:English
  • Subject(s):Business Economy / Management, Financial Markets
  • Page Range:63-69
  • No. of Pages:7
  • Keywords:Corporate Social Responsibility; bank;
  • Summary/Abstract:The conception of Corporate Social Responsibility takes a specially position in today’s economy. It has a reflection on many planes of operating activity of enterprises, financial institutions as well as the consumers. CEO of many banks introduces to their activity many aims from this conception. It’s came many activities, that promote responsible working. It’s have a reflection in three dimensions: ecological, economic and social-cultural.
THE ANALYSIS OF TECHNICAL RESERVES IN THE FRAME OF CZECH INSURANCE MARKET

THE ANALYSIS OF TECHNICAL RESERVES IN THE FRAME OF CZECH INSURANCE MARKET
(THE ANALYSIS OF TECHNICAL RESERVES IN THE FRAME OF CZECH INSURANCE MARKET)

  • Author(s):Karina Mužáková
  • Language:English
  • Subject(s):Evaluation research, Transformation Period (1990 - 2010), Financial Markets
  • Page Range:70-77
  • No. of Pages:8
  • Keywords:Insurance market; technical reserves; time series;
  • Summary/Abstract:This paper deals with the time series analysis of technical reserves in the frame of the Czech insurance market and their development prediction by years 2009 and 2010. However, this analysis doesn’t include economic factors (for example: inflation, economic progress, economic recession, economic shocks). Technical reserves, financial health, insurance companies, insurance market.
AN ECONOMETRIC ANALYSIS OF STOCK MARKET REACTION TO ABRUPT POLITICAL EVENTS: EMERGING MARKET EVIDENCE FROM INDIA

AN ECONOMETRIC ANALYSIS OF STOCK MARKET REACTION TO ABRUPT POLITICAL EVENTS: EMERGING MARKET EVIDENCE FROM INDIA
(AN ECONOMETRIC ANALYSIS OF STOCK MARKET REACTION TO ABRUPT POLITICAL EVENTS: EMERGING MARKET EVIDENCE FROM INDIA)

  • Author(s):Chandrapala Pathirawasam
  • Language:English
  • Subject(s):Political economy, Evaluation research, Financial Markets
  • Page Range:78-84
  • No. of Pages:7
  • Keywords:Abrupt political events; Bombay stock exchange; Political risk;
  • Summary/Abstract:There is extensive argument that political risk is an imperative and increasing influence on international portfolio allocation decisions. The purpose of this paper is to investigate the relation between abrupt political events and stock returns of Bombay Stock Exchange in India. The issue is examined using a dummy variable regression model controlled for the effect of lag market returns.
DISTRIBUTION OF SHARE AND BOND PRICES – AN ANALYSIS WITH THE KOLMOGOROV-SMIRNOV AND JARQUE BERA TEST VIA MS EXCEL AT THE EXAMPLE OF THE GERMAN REXP AND DAX

DISTRIBUTION OF SHARE AND BOND PRICES – AN ANALYSIS WITH THE KOLMOGOROV-SMIRNOV AND JARQUE BERA TEST VIA MS EXCEL AT THE EXAMPLE OF THE GERMAN REXP AND DAX
(DISTRIBUTION OF SHARE AND BOND PRICES – AN ANALYSIS WITH THE KOLMOGOROV-SMIRNOV AND JARQUE BERA TEST VIA MS EXCEL AT THE EXAMPLE OF THE GERMAN REXP AND DAX)

  • Author(s):Svend Reuse
  • Language:English
  • Subject(s):Methodology and research technology, Financial Markets
  • Page Range:85-91
  • No. of Pages:7
  • Keywords:Normal distribution; Kolmogorov-Smirnov; Jarque Bera; DAX; RexP;
  • Summary/Abstract:Yields of market price assets as shares or bonds are often treated as normal distributed. But do these yields really follow the normal distribution? This article answers this question by applying the Kolmogorov-Smirnov and Jarque Bera test onto DAX and RexP yields since 1967.
PRICING OF STRUCTURED PRODUCTS USING VISUAL BASIC IN EXCEL

PRICING OF STRUCTURED PRODUCTS USING VISUAL BASIC IN EXCEL
(PRICING OF STRUCTURED PRODUCTS USING VISUAL BASIC IN EXCEL)

  • Author(s):Peter Mokrička, Miroslava Šikulová
  • Language:English
  • Subject(s):Business Economy / Management, Accounting - Business Administration, ICT Information and Communications Technologies
  • Page Range:92-95
  • No. of Pages:4
  • Keywords:Structured products; guarantee certificates; options; pricing; Visual Basic; Black-Scholes Model;
  • Summary/Abstract:This paper deals with usage of Visual Basic in Excel in pricing of structured products. The pricing is implied on the example of guarantee certificates which can be constructed from a bond and an option, so it is shown how to price these components, and then also a guarantee certificate in Excel using Black-Scholes Model.
RISK MANAGEMENT – BASEL II AND SOLVENCY II

RISK MANAGEMENT – BASEL II AND SOLVENCY II
(RISK MANAGEMENT – BASEL II AND SOLVENCY II)

  • Author(s):Ivana Valová
  • Language:English
  • Subject(s):Business Economy / Management, Evaluation research
  • Page Range:96-100
  • No. of Pages:5
  • Keywords:Basel II; financial institutions; risk management; Solvency II;
  • Summary/Abstract:Risk management is important to efficient business operations. We can say risk managementis more important in the financial sector than in other parts of the economy because financial activities are increasingly being affected by the global economy. Importance of financial risk management proves the fact that the main procedures of risk measurement and managementare included in many legal documents.
LOCAL TAXES AND FEES IN EUROPEAN COUNTRIES: EXPERIENCE THAT COULD BE USED IN UKRAINE

LOCAL TAXES AND FEES IN EUROPEAN COUNTRIES: EXPERIENCE THAT COULD BE USED IN UKRAINE
(LOCAL TAXES AND FEES IN EUROPEAN COUNTRIES: EXPERIENCE THAT COULD BE USED IN UKRAINE)

  • Author(s):Yu. V Petrenko
  • Language:English
  • Subject(s):Government/Political systems, Evaluation research, Fiscal Politics / Budgeting
  • Page Range:112-118
  • No. of Pages:7
  • Keywords:Fiscal relations; financial resources; own revenues; local taxes and fees;
  • Summary/Abstract:The article is dedicated to local taxes and fees. The current system of local taxes and fees in Ukraine is not effective. The detailed scientifically grounded revision of fiscal policy at local level is necessary. Taking into account the European integration ambitions of Ukraine, the thorough study of the positive experience of European countries in this case is needed.
COMPANY COMBINATIONS IN THE VIEW OF IAS/IFRS

COMPANY COMBINATIONS IN THE VIEW OF IAS/IFRS
(COMPANY COMBINATIONS IN THE VIEW OF IAS/IFRS)

  • Author(s):Alois Konečný
  • Language:English
  • Subject(s):Business Economy / Management, Evaluation research, Accounting - Business Administration
  • Page Range:102-106
  • No. of Pages:5
  • Keywords:Company combinations; business combination; International accounting standards; International financial reporting standards; development; goodwill; bargain purchase;
  • Summary/Abstract:In the paper “Company combination in the view of IAS/IFRS” I will view company combinations from the position of accounting. Firstly the accounting attitude will be shown in the view of historic genesis. Secondly this article will describe for better understanding what exactly should be imagined under the conception of business combinations according to selected international standards and than I will deal with some accounting problem arising by accounting of mergers and acquisitions.
TAX BURDEN IN THE SLOVAK REPUBLIC AND ITS COMPARISON WITH OTHER STATES OF THE EUROPEAN UNION

TAX BURDEN IN THE SLOVAK REPUBLIC AND ITS COMPARISON WITH OTHER STATES OF THE EUROPEAN UNION
(TAX BURDEN IN THE SLOVAK REPUBLIC AND ITS COMPARISON WITH OTHER STATES OF THE EUROPEAN UNION)

  • Author(s):Norbert Gyurian, Angelika Kútna
  • Language:English
  • Subject(s):Economic policy, Comparative politics, EU-Accession / EU-DEvelopment, Fiscal Politics / Budgeting
  • Page Range:107-111
  • No. of Pages:5
  • Keywords:taxation; tax burden; tax ratio; tax reform; the European Union; the Slovak Republic;
  • Summary/Abstract:The paper concerns about the development in total tax burden in the European Union countries and the Slovak republic during the period 1995-2006. The paper compares the tax burden in the Slovak republic with the tax burden of the other members of the European Union as a whole during the period 1995-2006.
ANALYSIS OF POTENTIAL IMPACTS OF LOCALLY SUPPLIED SERVICES INCLUSION INTO REDUCED VAT RATE ON THESE SERVICES SUPPLIERS

ANALYSIS OF POTENTIAL IMPACTS OF LOCALLY SUPPLIED SERVICES INCLUSION INTO REDUCED VAT RATE ON THESE SERVICES SUPPLIERS
(ANALYSIS OF POTENTIAL IMPACTS OF LOCALLY SUPPLIED SERVICES INCLUSION INTO REDUCED VAT RATE ON THESE SERVICES SUPPLIERS)

  • Author(s):Kateřina Randová
  • Language:English
  • Subject(s):Economic policy, EU-Accession / EU-DEvelopment, Fiscal Politics / Budgeting
  • Page Range:119-124
  • No. of Pages:6
  • Keywords:Value Added Tax; Harmonization; Directive; VAT Act; Tax Rates; Supply of Services; European Union; Legislation; Amendment; Taxable Person;
  • Summary/Abstract:The Value Added Tax Act, No. 235/2004 Coll. (hereinafter referred to as the „VAT Act“), came into the force on the day of the Czech Republic entrance to the European Union. The provisions of this VAT Act were based on the relevant Directive, concretely Six Council Directive 77/388/EEC of 17 May 1977 on the harmonization of the laws of the Member States relating to turnover taxes - Common system of value added tax: uniform basis of assessment.
RELATION BETWEEN MANAGEMENT ACCOUNTING AND CONTROLLING

RELATION BETWEEN MANAGEMENT ACCOUNTING AND CONTROLLING
(RELATION BETWEEN MANAGEMENT ACCOUNTING AND CONTROLLING)

  • Author(s):Věra Rubáková
  • Language:English
  • Subject(s):Business Economy / Management, Evaluation research, Accounting - Business Administration
  • Page Range:125-132
  • No. of Pages:8
  • Keywords:Management Accounting; Financial Accounting; Cost Accounting; Controlling;
  • Summary/Abstract:This contribution deals with the relation between management accounting and controlling. The main aim is to define the problems of the categories of controlling and management accounting, based on the sources available, and their fundamental system relations to other accounting subsystems. In this article I would like to focus primarily on the objectives of management accounting, its inner structure and relation to superordinate systems of management, or controlling, and its modern trends.
MEASURING OF DIRECT AND INDIRECT ECONOMIC CONTRIBUTIONS OF TOURISM IN AUSTRALIA

MEASURING OF DIRECT AND INDIRECT ECONOMIC CONTRIBUTIONS OF TOURISM IN AUSTRALIA
(MEASURING OF DIRECT AND INDIRECT ECONOMIC CONTRIBUTIONS OF TOURISM IN AUSTRALIA)

  • Author(s):Dominika Bojová
  • Language:English
  • Subject(s):National Economy, Tourism, Socio-Economic Research
  • Page Range:134-140
  • No. of Pages:7
  • Keywords:Tourism; Australia; statistics; direct effects of tourism; indirect effects of tourism; economic contribution of tourism; tourism satellite account;
  • Summary/Abstract:The aim of the article is to explain how the direct and indirect economic contribution of tourism is measured. This contribution is explained on Australian tourism. The direct economic effects of tourism are well measured by national systems of tourism statistics and tourism satellite account. But there is a big lack of models for measuring the indirect effectsof tourism.
ECONOMIC IMPACTS OF TOURISM SECTOR ON THE ECONOMY OF SWITZERLAND

ECONOMIC IMPACTS OF TOURISM SECTOR ON THE ECONOMY OF SWITZERLAND
(ECONOMIC IMPACTS OF TOURISM SECTOR ON THE ECONOMY OF SWITZERLAND)

  • Author(s):Adriána Čechovičová
  • Language:English
  • Subject(s):National Economy, Tourism, Socio-Economic Research
  • Page Range:141-146
  • No. of Pages:6
  • Keywords:tourism sector; economic impacts of tourism; tourism statistics; Tourism satellite account; multiplicative effects of tourism;
  • Summary/Abstract:Tourism represents an economic sector with a positive impact on the economy of the countryand its in habitants. Tourism satellite account is a detailed statistical system representing the performance in the tourism sector and its multiplicative effects. This statistical tool provides detailed information, which are essentials for the tourism management and for the further development of the tourism sector in the country.
BUSINESS ANGELS AND LOVE MONEY INVESTORS: CHARACTERISTICS, AIMS AND MOTIVATION

BUSINESS ANGELS AND LOVE MONEY INVESTORS: CHARACTERISTICS, AIMS AND MOTIVATION
(BUSINESS ANGELS AND LOVE MONEY INVESTORS: CHARACTERISTICS, AIMS AND MOTIVATION)

  • Author(s):Márta Horváth
  • Language:English
  • Subject(s):Business Economy / Management, Evaluation research
  • Page Range:147-152
  • No. of Pages:6
  • Keywords:informal venture capital; business angels; love money; small and medium sized enterprises;
  • Summary/Abstract:In new venture development the largest single source of private equity capital is informal venture capital – i.e. angel investing. Empirical studies report that returns on informal investments made by friends or family members – i.e. love money investors of business founders may be higher than it was thought. Researchers focused on angel investors who mainly assumed male, middle-aged, high net-worth individuals with prior entrepreneurial experience investing in high-tech companies with which they have no family connections.
EVALUATION OF THE INTERNAL LINKS IN THE PROGRAMME DOCUMENTS

EVALUATION OF THE INTERNAL LINKS IN THE PROGRAMME DOCUMENTS
(EVALUATION OF THE INTERNAL LINKS IN THE PROGRAMME DOCUMENTS)

  • Author(s):Marie Slaba, Jan Kysela, Martin Luštický
  • Language:English
  • Subject(s):Evaluation research, Tourism
  • Page Range:153-159
  • No. of Pages:7
  • Keywords:programme documents; tourism; region; internal links; evaluation;
  • Summary/Abstract:Support of tourism is important for the development of each region. That’s why it has become the object of strategic planning of the regional authorities. It is very important to ensure strong mutual link between conclusions of the Analytical Part and suggested development arrangements during the process of creation of the programme documents.
METHODS AND TECHNIQUES OF MEASURING HUMAN LIFE VALUE

METHODS AND TECHNIQUES OF MEASURING HUMAN LIFE VALUE
(METHODS AND TECHNIQUES OF MEASURING HUMAN LIFE VALUE)

  • Author(s):Vilém Pařil
  • Language:English
  • Subject(s):Education, Labor relations, Socio-Economic Research
  • Page Range:160-167
  • No. of Pages:8
  • Keywords:Value of human life; measuring methods and techniques; environmental entities;
  • Summary/Abstract:Following article is aimed on methods and techniques that have been used in the past for measuring of human life value. The subject of submitted article „Methods and Techniques of Measuring Human Life Value” is comparative analyses of different approaches used to measuring human life value with emphasis on several instruments, evaluation of measuring complexity, determining of opportunities and potentials in improving these methods and also relation of these approaches to measuring value of different environmental entities. Thisarticle is divided to several parts.
ASSUMPTIONS AND OPPORTUNITIES FOR TOURISM DEVELOPMENT

ASSUMPTIONS AND OPPORTUNITIES FOR TOURISM DEVELOPMENT
(ASSUMPTIONS AND OPPORTUNITIES FOR TOURISM DEVELOPMENT)

  • Author(s):Jan Zvara, Markéta Uhnavá
  • Language:English
  • Subject(s):Evaluation research, Economic development, Tourism
  • Page Range:168-172
  • No. of Pages:5
  • Keywords:Tourism; Urban Cultural Tourism; City of Brno; Cooperation; Development; Trends;
  • Summary/Abstract:Tourism as one of the most important sectors of the world economy significantly affects the view on the strategic development of cities and regions. The increasing attention is paid to this sector. This article briefly indicates the necessary conditions and opportunities for tourism development in the city of Brno and describes forms of managing of this important field ofthe local economy. The need for true cooperation among subjects interested in tourism is even more important than in other areas.
EDUCATION OF THE EMPLOYEES – A PATH TOWARDS LEARNING ORGANIZATION

EDUCATION OF THE EMPLOYEES – A PATH TOWARDS LEARNING ORGANIZATION
(EDUCATION OF THE EMPLOYEES – A PATH TOWARDS LEARNING ORGANIZATION)

  • Author(s):Daniela Čverhová, Viktoria Ali Taha
  • Language:English
  • Subject(s):Labor relations, Human Resources in Economy, Socio-Economic Research
  • Page Range:174-182
  • No. of Pages:9
  • Keywords:Education; training; human resources; learning organization; knowledge;
  • Summary/Abstract:The contribution discusses the importance of education in the context of learning organization. It presents a picture of different approaches to learning and gives instructions and recommendations necessary for transforming organizations into learning organizations. In today's hyper-competitive environment have human resources the real value in organizations. People are one of the most important assets whose value, unlike plant and equipment, increases over time.
INTERGENERATIONAL REDISTRIBUTION AND SOLIDARITY AS AN INTEGRAL PART OF A PENSION SYSTEM

INTERGENERATIONAL REDISTRIBUTION AND SOLIDARITY AS AN INTEGRAL PART OF A PENSION SYSTEM
(INTERGENERATIONAL REDISTRIBUTION AND SOLIDARITY AS AN INTEGRAL PART OF A PENSION SYSTEM)

  • Author(s):Dana Hálová
  • Language:English
  • Subject(s):Welfare systems, Evaluation research, Demography and human biology
  • Page Range:183-188
  • No. of Pages:6
  • Keywords:intergenerational redistribution; intergenerational solidarity; social solidarity; pension system; pension reform; demographical ageing;
  • Summary/Abstract:Demographical ageing is one of the challenges for the 21st century. Increasing longevity and decreasing fertility are main drivers to population ageing. All around the world new debates on new significant changes to many of our institutions and pension reforms have arisen.
TIME REQUIREMENTS OF DOCTORAL STUDY PROGRAMS

TIME REQUIREMENTS OF DOCTORAL STUDY PROGRAMS
(TIME REQUIREMENTS OF DOCTORAL STUDY PROGRAMS)

  • Author(s):Jitka Pokorná, Tereza Kadeřábková
  • Language:English
  • Subject(s):Higher Education , Evaluation research
  • Page Range:189-193
  • No. of Pages:5
  • Keywords:doctoral study; retention; drop out; time requirements;
  • Summary/Abstract:The efficiency of the doctoral study program at the Faculty of Economy and Management at the Czech University of Life Sciences Prague (CULS) is about 9 %. In the research we analyzed possible reasons for the doctoral study programme dropouts at CULS and identified the most frequented ones. Our key findings, presented in this paper, reveal a significant difference in time requirements within doctoral study depending on affiliation to a specific faculty/department.
THE IMPACT OF OUT-OF-POCKET PAYMENTS IN HEALTH CARE ON FAMILY BUDGETS

THE IMPACT OF OUT-OF-POCKET PAYMENTS IN HEALTH CARE ON FAMILY BUDGETS
(THE IMPACT OF OUT-OF-POCKET PAYMENTS IN HEALTH CARE ON FAMILY BUDGETS)

  • Author(s):Veronika Krůtilová
  • Language:English
  • Subject(s):Welfare systems, Health and medicine and law
  • Page Range:194-199
  • No. of Pages:6
  • Keywords:health care financing; out-of-pocket payment; user fee; household of pensioners;
  • Summary/Abstract:This paper focuses on the impact of out-of-pocket payments in health care on family budgets. The objective of the paper is to prove the thesis whether the out-of-pocket financing of health care is regressive in the Czech Republic and how it changed after the user fees implementation in 2008.
IS THE STATE INTERNATIONAL SECURITY CONTRIBUTION A MATTER OF NATIONAL INTEREST OR A MATTER OF FINANCIAL AFFORDABILITY?

IS THE STATE INTERNATIONAL SECURITY CONTRIBUTION A MATTER OF NATIONAL INTEREST OR A MATTER OF FINANCIAL AFFORDABILITY?
(IS THE STATE INTERNATIONAL SECURITY CONTRIBUTION A MATTER OF NATIONAL INTEREST OR A MATTER OF FINANCIAL AFFORDABILITY?)

  • Author(s):Mariana Martišková
  • Language:English
  • Subject(s):Military history, Economic policy, Military policy, Transformation Period (1990 - 2010), EU-Accession / EU-DEvelopment
  • Page Range:200-207
  • No. of Pages:8
  • Keywords:V4 countries; military operations; crisis management; NATO; EU; UN; OSCE; GDP;
  • Summary/Abstract:V4 states in their respective security strategies set up slightly different security priorities in terms of their attitude towards NATO, EU and UN security arrangements as well as indefining key security areas world wide. Transformation of national interests into real military commitments is the focal point to be studied.
PARTICIPATION AND ELECTRONIZATION IN PUBLIC ADMINISTRATION

PARTICIPATION AND ELECTRONIZATION IN PUBLIC ADMINISTRATION
(PARTICIPATION AND ELECTRONIZATION IN PUBLIC ADMINISTRATION)

  • Author(s):Jitka Pěkná
  • Language:English
  • Subject(s):Governance, Public Administration, Government/Political systems, ICT Information and Communications Technologies
  • Page Range:208-211
  • No. of Pages:4
  • Keywords:Participation; electronization; e-government; e-governance; elektronization;
  • Summary/Abstract:Participation in public decision with using of computer technology is expressed with the term“e-participation”. It is clear, that e-participation will have its significance and will have the important influence on making of the politician decisions in future. The author also solves the possibilities and impediments of new computer and communication technologies. The conception of e-participation, that is using of computer technology for larger participation of the inhabitants into public decision-making, is described in more detail.
THE GENERALIZED DOUBLE DIAMOND MODEL – APPLICATION FOR CZECH REPUBLIC AND SLOVAKIA

THE GENERALIZED DOUBLE DIAMOND MODEL – APPLICATION FOR CZECH REPUBLIC AND SLOVAKIA
(THE GENERALIZED DOUBLE DIAMOND MODEL – APPLICATION FOR CZECH REPUBLIC AND SLOVAKIA)

  • Author(s):Pavlina Balcarová
  • Language:English
  • Subject(s):National Economy, Economic policy, Government/Political systems, International relations/trade, Comparative politics
  • Page Range:213-219
  • No. of Pages:7
  • Keywords:international competitiveness; Porter´s diamond; generalized double diamond; small open economy; Czech Republic; Slovakia;
  • Summary/Abstract:Porter´s competitiveness diamond was a significant contribution to the theory of competitiveness on the national level. After incorporating the multinational activities into this originally home based model a new generalized double diamond model was born. This paper compares the two models first. Consecutively a few proxy variables for each part of the diamond model on domestic and international level are chosen.
HOMO SOCIOLOGICUS VS. HOMO ECONOMICUS – A COMPARISON

HOMO SOCIOLOGICUS VS. HOMO ECONOMICUS – A COMPARISON
(HOMO SOCIOLOGICUS VS. HOMO ECONOMICUS – A COMPARISON)

  • Author(s):Artur Borcuch
  • Language:English
  • Subject(s):Social Theory, Socio-Economic Research
  • Page Range:220-224
  • No. of Pages:5
  • Keywords:Economic sociology; homo economicus; homo sociologicus;
  • Summary/Abstract:This article presents the model of economic human and sociological human and is an attempt to create a model of socio-economic human. The argumentation will be undertaken on the basis of widely discussed issues related to economic sociology.
AGENTS' BEHAVIOR AND EFFICIENT MARKET THEORY

AGENTS' BEHAVIOR AND EFFICIENT MARKET THEORY
(AGENTS' BEHAVIOR AND EFFICIENT MARKET THEORY)

  • Author(s):Rudolf Bryša
  • Language:English
  • Subject(s):Methodology and research technology, Financial Markets
  • Page Range:225-230
  • No. of Pages:6
  • Keywords:Efficient market theory; EMT; information; efficient market; knowledge of particular circumstances of time and place; scientific knowledge;
  • Summary/Abstract:The efficient market theory examines which groups of information are included in the market price. It also provides a hypothesis of efficient market where prices fully reflect all available information. However, the theory does not describe the behaviour of economic agents which leads to the state where the market is efficient. Robert Lucas, with his model based on rational expectations, offers a possible solution.
PRICE CONVERGENCE ON THE EUROPEAN UNION MARKET, BASED ON ECONOMIC THEORY OF THE LAW OF ONE PRICE

PRICE CONVERGENCE ON THE EUROPEAN UNION MARKET, BASED ON ECONOMIC THEORY OF THE LAW OF ONE PRICE
(PRICE CONVERGENCE ON THE EUROPEAN UNION MARKET, BASED ON ECONOMIC THEORY OF THE LAW OF ONE PRICE)

  • Author(s):Aneta Dzik-Walczak
  • Language:English
  • Subject(s):Economic history, Transformation Period (1990 - 2010), EU-Accession / EU-DEvelopment, Financial Markets
  • Page Range:231-237
  • No. of Pages:7
  • Keywords:price convergence; law of one price; European Union; integration;
  • Summary/Abstract:In this work, the price convergence on the European Union market was studied based on a panel data for the years 1995-2008. The aim of this paper was to investigate the hypothesis that integration has positive effects on convergence to the law of one price. The decreasing in time price dispersion and negative relation between the rate of growth of prices and the initial level were found. The analysis have shown rather slow speed of price convergence with halflife from 11 to 17 years for different groups of countries.
COMPARISON OF THE TRADE-OFF BETWEEN UNEMPLOYMENT AND INFLATION RATE IN A BROADER AS WELL AS NARROWER CONCEPTION AS APPLIED IN THE SITUATION IN THE CZECH REPUBLIC

COMPARISON OF THE TRADE-OFF BETWEEN UNEMPLOYMENT AND INFLATION RATE IN A BROADER AS WELL AS NARROWER CONCEPTION AS APPLIED IN THE SITUATION IN THE CZECH REPUBLIC
(COMPARISON OF THE TRADE-OFF BETWEEN UNEMPLOYMENT AND INFLATION RATE IN A BROADER AS WELL AS NARROWER CONCEPTION AS APPLIED IN THE SITUATION IN THE CZECH REPUBLIC)

  • Author(s):Emilie Jašová
  • Language:English
  • Subject(s):National Economy, Economic policy, Socio-Economic Research
  • Page Range:238-245
  • No. of Pages:8
  • Keywords:Phillips curve; NAIRU; break model; Gordon’s Triangle model; Hodrick-Prescott filter; Kalman filter;
  • Summary/Abstract:The objective of this article is to map out the development of NAIRU in the environment of transitive economy. Further, to point out to the topicality of the Phillips curve concept and NAIRU in the environment of the current economic recession in the Czech Republic.
CZECH OUTWARD FOREIGN DIRECT INVESTMENTS

CZECH OUTWARD FOREIGN DIRECT INVESTMENTS
(CZECH OUTWARD FOREIGN DIRECT INVESTMENTS)

  • Author(s):Martina Kotková
  • Language:English
  • Subject(s):Business Economy / Management, International relations/trade, Globalization
  • Page Range:246-249
  • No. of Pages:4
  • Keywords:Foreign direct investments; Outward FDI; Inward FDI; Globalisation;
  • Summary/Abstract:This paper focuses on outward foreign direct investments (FDI) of Czech companies. However FDI are often discussed, majority of discussions and analyses of international financial flows concern inward FDI to host economies. FDI inward analyses are aimed namely on analysing of FDI effects on host economy, spillovers or causes of FDI presence in certain country.
A PROSPECT THEORETICAL MODEL OF COMPETITION AND INNOVATION

A PROSPECT THEORETICAL MODEL OF COMPETITION AND INNOVATION
(A PROSPECT THEORETICAL MODEL OF COMPETITION AND INNOVATION)

  • Author(s):Ondřej Krčál
  • Language:English
  • Subject(s):Business Economy / Management, Evaluation research
  • Page Range:250-257
  • No. of Pages:8
  • Keywords:Innovation; Competition; Prospect Theory; Inverted-U Relationship;
  • Summary/Abstract:In this paper, we show that different profit expectations due to different intensity of competition influence innovation decisions of otherwise identical firms. Using prospect theoretical model of decision under uncertainty, we predict an inverted-U relationship between competition and innovation frequently observed in empirical studies.
COMPETITION AND PROFITABILITY

COMPETITION AND PROFITABILITY
(COMPETITION AND PROFITABILITY)

  • Author(s):Ondřej Krčál
  • Language:English
  • Subject(s):Business Economy / Management, Evaluation research
  • Page Range:258-264
  • No. of Pages:7
  • Keywords:Competition; Profitability; Price-Cost Margin; Relative Profits; Relative Profit Differences;
  • Summary/Abstract:In this paper, we investigate relationship between competition and profitability. We define dynamic and static competition and review economic literature about persistence and sources of profits. Moreover, we compare measures of competition based on profitability and relative profits. We argue that profitability measures are more suitable for firms with similar efficiency and for the long–run studies and inter–industry comparisons.
DOUBLE COINCIDENCE OF WANTS AND THE ESSENTIALITY OF MONEY

DOUBLE COINCIDENCE OF WANTS AND THE ESSENTIALITY OF MONEY
(DOUBLE COINCIDENCE OF WANTS AND THE ESSENTIALITY OF MONEY)

  • Author(s):Rostislav Staněk
  • Language:English
  • Subject(s):Micro-Economics, Evaluation research
  • Page Range:265-272
  • No. of Pages:8
  • Keywords:Money; Double Coincidence of Wants; Search models; Infinite games;
  • Summary/Abstract:This paper is focused on the microeconomic foundation of the theory of money. I argue that the absence of double coincidence of wants per se is not able to explain the existence of money. The argument has two parts. First, I argue that existing models without double coincidence of wants include also other frictions. Second, I show that double coincidence of wants is neither sufficient nor necessary condition for the essentiality of money.
CREATING AND MANAGING GLOBAL BRAND ARCHITECTURE

CREATING AND MANAGING GLOBAL BRAND ARCHITECTURE
(CREATING AND MANAGING GLOBAL BRAND ARCHITECTURE)

  • Author(s):Emmanuel Selase Asamoah
  • Language:English
  • Subject(s):Business Economy / Management, Financial Markets
  • Page Range:274-278
  • No. of Pages:5
  • Keywords:brand architecture; global brands; brand; brand strategy; brand portfolio; global market;
  • Summary/Abstract:The global market place has become more and more dynamic and multinational companies are constantly faced with the challenge of managing the various brands in their portfolio. Depending on the nature of a company and the size of its product range, appropriate structures can be put in place to gain a favorable position in the target market. The aim of this paper is to find ways of creating and managing brand architecture across international markets. The paper suggests ways on how firms can develop a workable brand architecture that will facilitate its operations in the global market place.
AIRPORT CHARGES AND GOVERNMENT TAXES BENCHMARKING METHODOLOGY

AIRPORT CHARGES AND GOVERNMENT TAXES BENCHMARKING METHODOLOGY
(AIRPORT CHARGES AND GOVERNMENT TAXES BENCHMARKING METHODOLOGY)

  • Author(s):Miroslav Belorid
  • Language:English
  • Subject(s):Government/Political systems, Fiscal Politics / Budgeting, Tourism
  • Page Range:279-283
  • No. of Pages:5
  • Keywords:Airport charges; airport industry; benchmarking methodology; comparative analysis; government taxes; quantitative analysis;
  • Summary/Abstract:This paper illustrates the most principal considerations in determination of approach and optimization of basic assumptions in airport charges and government taxes benchmarking methodology. Evaluation of the competitiveness of an airport is comprehensive task involving multiple factors and airport charges being one of them.
EXPANDING THE POOL OF KNOWLEDGE: TOWARDS MUTUAL COMPETITIVE ADVANTAGE

EXPANDING THE POOL OF KNOWLEDGE: TOWARDS MUTUAL COMPETITIVE ADVANTAGE
(EXPANDING THE POOL OF KNOWLEDGE: TOWARDS MUTUAL COMPETITIVE ADVANTAGE)

  • Author(s):Dan-Eugen Birtu
  • Language:English
  • Subject(s):Business Economy / Management, Evaluation research
  • Page Range:284-290
  • No. of Pages:7
  • Keywords:dat; information; knowledge; wisdom; knowledge creation; networks, supplier integration; supplier associations;
  • Summary/Abstract:The rapid development and the accelerated fluctuations of the business environment, engendered by the new economy, have compelled organizations to shift their attention towards knowledge as a reliable source of sustainable competitive advantage. Additionally, as all companies are part of networks, and any network can only be as strong as its elements, it is insufficient to endeavor solely on the internal resources.
AN EXAMPLE OF PROJECT MANAGEMENT IN ELECTRONICS

AN EXAMPLE OF PROJECT MANAGEMENT IN ELECTRONICS
(AN EXAMPLE OF PROJECT MANAGEMENT IN ELECTRONICS)

  • Author(s):Olaf Flak
  • Language:English
  • Subject(s):Evaluation research
  • Page Range:291-297
  • No. of Pages:7
  • Keywords:multinational team; project management; goals of a project;
  • Summary/Abstract:The paper will present an example of a project in electronics within multinational team. Therewill be described resources, procedures, environment, tasks and effects. The project was managed in Poland from 2006 to 2008. The participants came from several European countries. The main goal of the project was to create an electronic unit by a multinational team, but members did not work together in one place.
ON-COMING NEW OPPORTUNITIES AND APPLICATIONS OF WEB-BASED SOCIAL NETWORKS IN KNOWLEDGE MANAGEMENT

ON-COMING NEW OPPORTUNITIES AND APPLICATIONS OF WEB-BASED SOCIAL NETWORKS IN KNOWLEDGE MANAGEMENT
(ON-COMING NEW OPPORTUNITIES AND APPLICATIONS OF WEB-BASED SOCIAL NETWORKS IN KNOWLEDGE MANAGEMENT)

  • Author(s):Jiří Franěk
  • Language:English
  • Subject(s):ICT Information and Communications Technologies
  • Page Range:298-304
  • No. of Pages:7
  • Keywords:Communication; internet; knowledge economy; knowledge management; knowledge management systems;
  • Summary/Abstract:We live and work in web2.0 environment. Last decade showed that internet based social networks are crucial to today’s life and business and it has great impact on knowledge management as well. Knowledge sharing is critical to organizations that wish to use their knowledge as an asset to achieve competitive advantage.
CHANGES IN THE MACRO MARKETING ENVIRONMENT AND IMPLEMENTATION OF THE MARKETING MIX IN THE CLOTHING INDUSTRY

CHANGES IN THE MACRO MARKETING ENVIRONMENT AND IMPLEMENTATION OF THE MARKETING MIX IN THE CLOTHING INDUSTRY
(CHANGES IN THE MACRO MARKETING ENVIRONMENT AND IMPLEMENTATION OF THE MARKETING MIX IN THE CLOTHING INDUSTRY)

  • Author(s):Katarina Gubiniova
  • Language:English
  • Subject(s):Business Economy / Management, Marketing / Advertising
  • Page Range:305-310
  • No. of Pages:6
  • Keywords:clothing industry; fashion industry; macro marketing environment; PEST; marketing strategy;
  • Summary/Abstract:The paper is written as a part of a solution of a project called “Strategic analysis of textile and clothing industry in Slovak Republic and trends in these industries” / “Strategická analýza situácie textilného a odevného priemyslu v Slovenskej republike a trendy vo vývoji” (Comenius University Grant No. UK /91/2009), and it focuses on very important industries, the clothing and fashion sector.
KNOWLEDGE MANAGEMENT ENABLERS IN DEVELOPING COUNTRIES BUSINESS MANAGEMENT: TOWARD THE INSTITUTION-BASED VIEW

KNOWLEDGE MANAGEMENT ENABLERS IN DEVELOPING COUNTRIES BUSINESS MANAGEMENT: TOWARD THE INSTITUTION-BASED VIEW
(KNOWLEDGE MANAGEMENT ENABLERS IN DEVELOPING COUNTRIES BUSINESS MANAGEMENT: TOWARD THE INSTITUTION-BASED VIEW)

  • Author(s):Nguyen Thi Thuy Hang
  • Language:English
  • Subject(s):Business Economy / Management, Economic policy, Evaluation research
  • Page Range:311-318
  • No. of Pages:8
  • Keywords:Knowledge management; Knowledge management enabler; developing country;
  • Summary/Abstract:There have been many studies about knowledge management (KM), but most of them focused on developed economies (such as American, European, Japan) or big/strong emerging economies (such as China, India, Korea) while medium and small developing economies are integrated parts of the world’s economy, but are not much focused.
SPECIFIC INTERNAL SUCCESS FACTORS FOR GERMAN DIRECT INVESTMENT IN CHINA

SPECIFIC INTERNAL SUCCESS FACTORS FOR GERMAN DIRECT INVESTMENT IN CHINA
(SPECIFIC INTERNAL SUCCESS FACTORS FOR GERMAN DIRECT INVESTMENT IN CHINA)

  • Author(s):Sebastian Hecker
  • Language:English
  • Subject(s):Business Economy / Management, Economic policy, International relations/trade
  • Page Range:319-328
  • No. of Pages:10
  • Keywords:German investment in China; Consumer market;
  • Summary/Abstract:China and its economical boost and modernization process are unique and countries all over the world are curious how this development continues. With more than 1.3 billion citizens China is a consumer market with great potential but at the same time an ideal location for cheap production due to cheap labor and an advantageous economical framework.
THE ROI METHODOLOGY AS AN UNIVERSAL PROCEDURE OF MEASURING THE EFFECTIVENESS OF HUMAN RESOURCES’ INVESTMENTS

THE ROI METHODOLOGY AS AN UNIVERSAL PROCEDURE OF MEASURING THE EFFECTIVENESS OF HUMAN RESOURCES’ INVESTMENTS
(THE ROI METHODOLOGY AS AN UNIVERSAL PROCEDURE OF MEASURING THE EFFECTIVENESS OF HUMAN RESOURCES’ INVESTMENTS)

  • Author(s):Kinga Hoffmann
  • Language:English
  • Subject(s):Business Economy / Management, Methodology and research technology, Human Resources in Economy
  • Page Range:329-335
  • No. of Pages:7
  • Keywords:ROI Methodology; effectiveness; investment; human resources; human capital;
  • Summary/Abstract:An article presents an analysis of selected methods used to measure an effectiveness of human capital. The method elaborated by J.J. Phillips deserves for the particular attention among available ways to measure the return on investment in human capital in organizations. The author prepared a procedure, which can be conducted in relation to every HRM scheme. Bydint of ROI methodology managers are more rarely to perceive HRM departments as costcenters. Phillips’ method allows to understand better that people are the most valuable asset for the company.
CRISIS MANAGEMENT WITHIN THE CONFINES OF PROJECT

CRISIS MANAGEMENT WITHIN THE CONFINES OF PROJECT
(CRISIS MANAGEMENT WITHIN THE CONFINES OF PROJECT)

  • Author(s):Tomasz Janicki
  • Language:English
  • Subject(s):Business Economy / Management, Evaluation research
  • Page Range:336-340
  • No. of Pages:5
  • Keywords:Crisis management; market value; large costs;
  • Summary/Abstract:Many enterprises functioning in present times are afraid crisis, mainly in view of negative influence on reputation of firm and huge financial losses (calculated often in millions dollars). Researches in USA and some European countries show that firms which experienced crisis of reputation have lost on their market value (average about 8%) [6, p. 9]. In addition, crisis (jointed with loss of reputation) exposes firms on large costs.
INNOVATION CLASSIFICATION AND CORPORATE INOVATION RECORDING SYSTEM

INNOVATION CLASSIFICATION AND CORPORATE INOVATION RECORDING SYSTEM
(INNOVATION CLASSIFICATION AND CORPORATE INOVATION RECORDING SYSTEM)

  • Author(s):Cyril Kotulič
  • Language:English
  • Subject(s):Business Economy / Management
  • Page Range:341-347
  • No. of Pages:7
  • Keywords:innovation; innovation classification; innovation recording system;
  • Summary/Abstract:In the paper, the author analyzes different currently used innovation classification systems and proposes a design of an enterprise innovation recording system. The proposed corporate system for recording of innovations takes into account the type and degree of innovation. Corporations need to record innovations to assess economic benefits of innovations. At the same time there is a need to communicate some of this information to customers and employees.
FINANCIAL MANAGEMENT IN THE TIME OF DOWNTURN

FINANCIAL MANAGEMENT IN THE TIME OF DOWNTURN
(FINANCIAL MANAGEMENT IN THE TIME OF DOWNTURN)

  • Author(s):Dana Lesňáková
  • Language:English
  • Subject(s):Business Economy / Management
  • Page Range:348-353
  • No. of Pages:6
  • Keywords:downturn; recession; global crises; recovery scenarios;
  • Summary/Abstract:My paper is designed to give proposals and suggestion to managers of businesses how they can manage through difficult times. Difficulties can be caused by external factors such as a fall in consumer sentiment, rising fuel prices, customers moving to competitors, difficulty accessing finance or increasing interest rates; or they could be caused by internal factors suchas poor risk management, failure to manage cash flow properly or because of a margin squeeze.
HUNGARIAN CORPORATIONS IN GLOBAL PERSPECTIVES – AN ANALYSIS OF STRATEGIC OPPORTUNITIES AND THREATS

HUNGARIAN CORPORATIONS IN GLOBAL PERSPECTIVES – AN ANALYSIS OF STRATEGIC OPPORTUNITIES AND THREATS
(HUNGARIAN CORPORATIONS IN GLOBAL PERSPECTIVES – AN ANALYSIS OF STRATEGIC OPPORTUNITIES AND THREATS)

  • Author(s):Zoltán Lovas
  • Language:English
  • Subject(s):Business Economy / Management, Globalization
  • Page Range:354-360
  • No. of Pages:7
  • Keywords:Strategic challenges; Globalization; E-business; The scarcity of resources;
  • Summary/Abstract:Publications on globalisation in Hungary have paid so far only little attention to what kind of influence it has on the corporate sphere. In this study I examine the nature of strategic threats and opportunities globalisation poses to Hungarian based corporations. By means of an empirical research I determine these corporations’ competitive situation, the main types of strategies they follow and the new elements of global competition. I analyse the organizational networks of the corporations, and where possible, I compare the findings with the corresponding facts and figures of previous researches.
CHARACTERISTICS OF SMALL AND MEDIUM-SIZED INNOVATIVE ENTERPRISES AND PROBLEMS AFFECTING THEIR ACTIVITIES

CHARACTERISTICS OF SMALL AND MEDIUM-SIZED INNOVATIVE ENTERPRISES AND PROBLEMS AFFECTING THEIR ACTIVITIES
(CHARACTERISTICS OF SMALL AND MEDIUM-SIZED INNOVATIVE ENTERPRISES AND PROBLEMS AFFECTING THEIR ACTIVITIES)

  • Author(s):Petra Matějovská
  • Language:English
  • Subject(s):Business Economy / Management, Financial Markets
  • Page Range:361-367
  • No. of Pages:7
  • Keywords:Small and middle enterprises; innovation management; research and development; market;
  • Summary/Abstract:Innovation is generally considered as a motive power of economic growth nowadays. Especially new products, services and new methods of their production and providing are increasing the economic value and enable to improve the standard of living. SMEs are responsible for the most of the innovations that lead to new more valuable goods and services. SMEs include all types of companies from the single proprietorship to the cooperatives. Whereas some SMEs offer very traditional goods and services or craft products, many others are fast-growing companies in the field of top-technologies.
COMPETITIVENESS OF CZECH COOPERATIVE

COMPETITIVENESS OF CZECH COOPERATIVE
(COMPETITIVENESS OF CZECH COOPERATIVE)

  • Author(s):Petr Mikus
  • Language:English
  • Subject(s):Business Economy / Management, Evaluation research
  • Page Range:368-373
  • No. of Pages:6
  • Keywords:cooperative; competitiveness; trends;
  • Summary/Abstract:The paper describes the current trends in cooperatives, particularly focusing on added value incooperatives and its coherence and impact on the competitiveness of cooperative organizations in the modern economy.
DUALITY AND COEXISTENCE IN BUSINESS ENVIRONMENT

DUALITY AND COEXISTENCE IN BUSINESS ENVIRONMENT
(DUALITY AND COEXISTENCE IN BUSINESS ENVIRONMENT)

  • Author(s):Boris Molochny
  • Language:English
  • Subject(s):Business Economy / Management, Accounting - Business Administration, Marketing / Advertising
  • Page Range:374-379
  • No. of Pages:6
  • Keywords:Business Coexistence ; Duality; Customer Orientation; Service; Marketing concept; Market Orientation;
  • Summary/Abstract:Without doubts our physical surround is subject to dualities and coexistences. Modern physical models support the dual nature of light and transforming potential energy into kinetic energy and vice-versa. Nobody asks explanations why the Earth has the north and the south magnetic poles, why a battery has two “plus” and “minus” electrodes. It is obviously that there are natural coexistences that already proved by famous scientists at least during past two hundreds years.
POST - MODERN MARKETING AND MARKETING COMMUNICATIONS

POST - MODERN MARKETING AND MARKETING COMMUNICATIONS
(POST - MODERN MARKETING AND MARKETING COMMUNICATIONS)

  • Author(s):Jan Pospišil
  • Language:English
  • Subject(s):Business Economy / Management, Behaviorism, Marketing / Advertising
  • Page Range:380-385
  • No. of Pages:6
  • Keywords:Post - modern marketing; marketing communications; behavioural economic; advertising; symbolism;
  • Summary/Abstract:The paper deals with the problem of marketing communications at the time – so called “post –modern” marketing. Conventional marketing models and techniques are built on modernistic paradigm, which presents unique and structured view of the world. Today's marketing communications are controlled by rational rules and they are concentrated above all on measurement, objectivity and verification possibilities.
THE NECESSITY OF INFORMATION AND COMMUNICATION TECHNOLOGY TO INCREASE THE COMPETITION OF ALBANIAN SMES

THE NECESSITY OF INFORMATION AND COMMUNICATION TECHNOLOGY TO INCREASE THE COMPETITION OF ALBANIAN SMES
(THE NECESSITY OF INFORMATION AND COMMUNICATION TECHNOLOGY TO INCREASE THE COMPETITION OF ALBANIAN SMES)

  • Author(s):Amali Çipi, Enida Pulaj
  • Language:English
  • Subject(s):Business Economy / Management, Evaluation research, ICT Information and Communications Technologies
  • Page Range:386-391
  • No. of Pages:6
  • Keywords:E commerce; ICT; SME; development; management;
  • Summary/Abstract:SME sector has an inalienable contribution in the process of economic development of our country. The development of small and medium enterprises is considered as an effective tool in transition economies and generates sustainable economic growth and poverty alleviation. The increasing competition in the domestic and global market through the development of information technology brings a reduction of administrative barriers and convenience in doing business.
OUTPLACEMENT AS A MANAGEMENT TOOL IN THE AREA OF LAYOFFS

OUTPLACEMENT AS A MANAGEMENT TOOL IN THE AREA OF LAYOFFS
(OUTPLACEMENT AS A MANAGEMENT TOOL IN THE AREA OF LAYOFFS)

  • Author(s):Adrian Pyszka
  • Language:English
  • Subject(s):Labor relations, Human Resources in Economy, Socio-Economic Research
  • Page Range:392-398
  • No. of Pages:7
  • Keywords:Outplacement; layoffs; workforce reductions; case study; cross-case analysis;
  • Summary/Abstract:The paper presents an example of layoffs management using outplacement services. The aim of this research study is to identify the main categories that facilitate using outplacement while doing organizational worforce reductions and layoffs.
THE ROLE OF M&A IN CHINESE EXPANSION TO THE CZECH REPUBLIC

THE ROLE OF M&A IN CHINESE EXPANSION TO THE CZECH REPUBLIC
(THE ROLE OF M&A IN CHINESE EXPANSION TO THE CZECH REPUBLIC)

  • Author(s):Martin Stuchlík
  • Language:English
  • Subject(s):Business Economy / Management, Financial Markets
  • Page Range:399-403
  • No. of Pages:5
  • Keywords:China; mergers & acquisitions; foreign direct investments; cross-border acquisitions;
  • Summary/Abstract:The subject of this paper is to determine the role of mergers and acquisitions in Chinese expansion to the Czech Republic, notably to review the popularity of mergers and acquisitionsin comparison to the green field investment. Zero roles of mergers and acquisitions were determined in realised Chinese investments to the Czech Republic.
THE PRODUCT IS BETTER WHEN IT IS BRANDED

THE PRODUCT IS BETTER WHEN IT IS BRANDED
(THE PRODUCT IS BETTER WHEN IT IS BRANDED)

  • Author(s):Zsolt Csapó, Róbert Sándor Szűcs
  • Language:English
  • Subject(s):Business Economy / Management, Marketing / Advertising
  • Page Range:404-410
  • No. of Pages:7
  • Keywords:Young generation; aroma and flavour test; brand; marketing; experiment;
  • Summary/Abstract:The young generation is the most influenced and vulnerable segment of the market. Secondary surveys confirm that a large percentage (20%) of children less than 3 years of ageinsists on brands. Children aged between 4-5 years insist on 20-30 brands already. We prove with the help of an aroma and flavour test that young people make their decision on brand equity.
THE MAIN PILLARS OF THE CRM

THE MAIN PILLARS OF THE CRM
(THE MAIN PILLARS OF THE CRM)

  • Author(s):Kamila Tišlerová
  • Language:English
  • Subject(s):Business Economy / Management, Socio-Economic Research
  • Page Range:411-415
  • No. of Pages:5
  • Keywords:CRM; pillars; customer; strategy; competitive advantage;
  • Summary/Abstract:This paper aims to analyse differential approaches to the Customer Relationship Management theory. The main pillars of the CRM concern the customers as the core value to the company. From establishing, developing, finishing and evaluation customer relations, with the help of technology, obtain, analyse and valuably use of the customer information and exchange at the aim of establishing a long-term relationship for profitability and competitive advantage.
KNOWLEDGE CONTINUITY AND KNOWLEDGE MANAGEMENT

KNOWLEDGE CONTINUITY AND KNOWLEDGE MANAGEMENT
(KNOWLEDGE CONTINUITY AND KNOWLEDGE MANAGEMENT)

  • Author(s):Hana Urbancová
  • Language:English
  • Subject(s):Business Economy / Management, Evaluation research
  • Page Range:416-420
  • No. of Pages:5
  • Keywords:knowledge; tacit knowledge; explicit knowledge; knowledge management; knowledge continuity;
  • Summary/Abstract:“Particular” people are those who have knowledge and when they leave an organization the knowledge leaves with them and this means loss of critical knowledge. It is very important toknow very early on which employees and which knowledge leave. The management of organization must ensure knowledge continuity by knowledge sharing, so that this knowledge can be transferred to others.
THE INFLUENCE OF DIGITAL TECHNOLOGY ON CREATIVE INDUSTRIES: AN ANALYSIS BASED ON VALUE CHAIN

THE INFLUENCE OF DIGITAL TECHNOLOGY ON CREATIVE INDUSTRIES: AN ANALYSIS BASED ON VALUE CHAIN
(THE INFLUENCE OF DIGITAL TECHNOLOGY ON CREATIVE INDUSTRIES: AN ANALYSIS BASED ON VALUE CHAIN)

  • Author(s):Jianpeng Zhang
  • Language:English
  • Subject(s):Business Economy / Management, ICT Information and Communications Technologies
  • Page Range:421-426
  • No. of Pages:6
  • Keywords:Creative economy; creative industries; digital technology; value chain;
  • Summary/Abstract:The great influence of technology on economy development has been manifested by the three times technological revolutions from 18 century to 20 century. They transformed the agriculture society into industrial society. In the past decades, the digital technology and ICTs brought the people into the creative age. The combination of creativity and economy formed into a new economy model, that is, creative economy.
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