European Financial Systems 2014 Cover Image

European Financial Systems 2014
European Financial Systems 2014

Proceedings of the 11th International Scientific Conference

Contributor(s): Veronika Kajurová (Editor), Oleg Deev (Editor), Jan Krajíček (Editor)
Subject(s): National Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, Economic policy, Health and medicine and law, EU-Accession / EU-DEvelopment, Financial Markets, Fiscal Politics / Budgeting, ICT Information and Communications Technologies, Socio-Economic Research, EU-Legislation
Published by: Masarykova univerzita
Keywords: Credit rating; Agricultural Enterprises; Financial market; Financial liquidity; European Oil and Gas Companies; Stock exchange; Czech Republic; Slovak Republic; E-banking; Cyberspace management; Money market;
Summary/Abstract: It is my pleasure to introduce you a collection of papers from the 11th annual international scientific conference The European Financial Systems 2014 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 the impacts of the financial crisis on financial and non-financial institutions, new regulation rules and procedures on financial markets, new accounting and tax challenges and trends and tendencies in banking and insurance industry.

  • E-ISBN-13: 978-80-210-8704-0
  • Page Count: 701
  • Publication Year: 2014
  • Language: English
Sovereign Credit Rating in Ordered Response Model Framework – Case of Visegrad Four Countries

Sovereign Credit Rating in Ordered Response Model Framework – Case of Visegrad Four Countries
(Sovereign Credit Rating in Ordered Response Model Framework – Case of Visegrad Four Countries)

Prediction of Agricultural Enterprises Distress Using Data Envelopment Analysis

Prediction of Agricultural Enterprises Distress Using Data Envelopment Analysis
(Prediction of Agricultural Enterprises Distress Using Data Envelopment Analysis)

Applications of Grey Models in the Analysis of Financial Time Series. The Forex Market Example.

Applications of Grey Models in the Analysis of Financial Time Series. The Forex Market Example.
(Applications of Grey Models in the Analysis of Financial Time Series. The Forex Market Example.)

Health System's Financing Inequalities in Selected European Countries

Health System's Financing Inequalities in Selected European Countries
(Health System's Financing Inequalities in Selected European Countries)

Hospital’s Size as the Determinant of Financial Liquidity

Hospital’s Size as the Determinant of Financial Liquidity
(Hospital’s Size as the Determinant of Financial Liquidity)

The Classical and Stochastic Approach to Option Pricing

The Classical and Stochastic Approach to Option Pricing
(The Classical and Stochastic Approach to Option Pricing)

Combination of Multifactor APT Model and CAPM: An Empirical Analysis of the Prague Stock Exchange

Combination of Multifactor APT Model and CAPM: An Empirical Analysis of the Prague Stock Exchange
(Combination of Multifactor APT Model and CAPM: An Empirical Analysis of the Prague Stock Exchange)

Change in Technical Efficiency of Slovak Banks over Time under the Intermediation Approach

Change in Technical Efficiency of Slovak Banks over Time under the Intermediation Approach
(Change in Technical Efficiency of Slovak Banks over Time under the Intermediation Approach)

Factors behind the Pricing of Eastern and Western European Oil and Gas Companies

Factors behind the Pricing of Eastern and Western European Oil and Gas Companies
(Factors behind the Pricing of Eastern and Western European Oil and Gas Companies)

Cointegration-Based Active Portfolio Selection in the European Stock Markets

Cointegration-Based Active Portfolio Selection in the European Stock Markets
(Cointegration-Based Active Portfolio Selection in the European Stock Markets)

The Importance of Financial Literacy in Consumer's Optimal Choice of Insurance

The Importance of Financial Literacy in Consumer's Optimal Choice of Insurance
(The Importance of Financial Literacy in Consumer's Optimal Choice of Insurance)

Market Structure and Performance of the Life Insurance Industry in the Slovak Republic

Market Structure and Performance of the Life Insurance Industry in the Slovak Republic
(Market Structure and Performance of the Life Insurance Industry in the Slovak Republic)

Management and Criteria for Selecting Commercial Insurance Company for Small and Medium-Sized Enterprises

Management and Criteria for Selecting Commercial Insurance Company for Small and Medium-Sized Enterprises
(Management and Criteria for Selecting Commercial Insurance Company for Small and Medium-Sized Enterprises)

The Single Supervisory Mechanism and the Czech Republic

The Single Supervisory Mechanism and the Czech Republic
(The Single Supervisory Mechanism and the Czech Republic)

Comparison of Assessment of Capital Adequacy for Czech Commercial Bank

Comparison of Assessment of Capital Adequacy for Czech Commercial Bank
(Comparison of Assessment of Capital Adequacy for Czech Commercial Bank)

Inflation versus Deflation and their Impact on Stock Markets

Inflation versus Deflation and their Impact on Stock Markets
(Inflation versus Deflation and their Impact on Stock Markets)

Modeling Financial Surplus of the Housing Projects Developer

Modeling Financial Surplus of the Housing Projects Developer
(Modeling Financial Surplus of the Housing Projects Developer)

The Nexus between Sovereign Default Risk and Bank Fragility: Evidence from China

The Nexus between Sovereign Default Risk and Bank Fragility: Evidence from China
(The Nexus between Sovereign Default Risk and Bank Fragility: Evidence from China)

Financial Literacy of Masaryk University Students in "Financial Literacy" Course

Financial Literacy of Masaryk University Students in "Financial Literacy" Course
(Financial Literacy of Masaryk University Students in "Financial Literacy" Course)

Options of Modern Tools in Cyberspace's Management of E-banking

Options of Modern Tools in Cyberspace's Management of E-banking
(Options of Modern Tools in Cyberspace's Management of E-banking)

Yield Curve Fitting and Forecasting with Parametric Models – Empirical Evaluation Based on Polish Money Market

Yield Curve Fitting and Forecasting with Parametric Models – Empirical Evaluation Based on Polish Money Market
(Yield Curve Fitting and Forecasting with Parametric Models – Empirical Evaluation Based on Polish Money Market)

Firm Default Prediction Model for Slovak Companies

Firm Default Prediction Model for Slovak Companies
(Firm Default Prediction Model for Slovak Companies)

Rationality and Emotion in European Football: How Share Prices React to a New Coach’s Appointment

Rationality and Emotion in European Football: How Share Prices React to a New Coach’s Appointment
(Rationality and Emotion in European Football: How Share Prices React to a New Coach’s Appointment)

Satisfaction of the Czech Bank Customers

Satisfaction of the Czech Bank Customers
(Satisfaction of the Czech Bank Customers)

Applying P-splines for Mortality Rates in the Czech Republic

Applying P-splines for Mortality Rates in the Czech Republic
(Applying P-splines for Mortality Rates in the Czech Republic)

Design Principles of Modified Discount Certificates

Design Principles of Modified Discount Certificates
(Design Principles of Modified Discount Certificates)

Efficiency of Insurance Lines in the Slovak Republic

Efficiency of Insurance Lines in the Slovak Republic
(Efficiency of Insurance Lines in the Slovak Republic)

Cartel Formation in the Financial Sector during Different Stages of Business Cycle

Cartel Formation in the Financial Sector during Different Stages of Business Cycle
(Cartel Formation in the Financial Sector during Different Stages of Business Cycle)

The Assessment of Impact of Value Added Tax on the Cash Flow of Chosen Business Entities

The Assessment of Impact of Value Added Tax on the Cash Flow of Chosen Business Entities
(The Assessment of Impact of Value Added Tax on the Cash Flow of Chosen Business Entities)

The Issue of Indebtedness of Czech Hospitals

The Issue of Indebtedness of Czech Hospitals
(The Issue of Indebtedness of Czech Hospitals)

Longitudinal Design as an Extension to Standard Banking Approaches to Companies' Financial Performance Assessment and Prediction

Longitudinal Design as an Extension to Standard Banking Approaches to Companies' Financial Performance Assessment and Prediction
(Longitudinal Design as an Extension to Standard Banking Approaches to Companies' Financial Performance Assessment and Prediction)

Impact of Interest Rates and Credit Structure on Liquidity and Stability of Banking Sector of the Euro Area

Impact of Interest Rates and Credit Structure on Liquidity and Stability of Banking Sector of the Euro Area
(Impact of Interest Rates and Credit Structure on Liquidity and Stability of Banking Sector of the Euro Area)

Impact of High Frequency Trading on Volatilities of Securities on German Market

Impact of High Frequency Trading on Volatilities of Securities on German Market
(Impact of High Frequency Trading on Volatilities of Securities on German Market)

Selected Determinants of Lifelong Learning of Population in the Slovak Republic

Selected Determinants of Lifelong Learning of Population in the Slovak Republic
(Selected Determinants of Lifelong Learning of Population in the Slovak Republic)

The Utilization of Sovereign Bond Spreads: The Case of V4 Countries

The Utilization of Sovereign Bond Spreads: The Case of V4 Countries
(The Utilization of Sovereign Bond Spreads: The Case of V4 Countries)

The Issue of Dividend Policies of Companies Listed on Warsaw Stock Exchange - Results of the Research

The Issue of Dividend Policies of Companies Listed on Warsaw Stock Exchange - Results of the Research
(The Issue of Dividend Policies of Companies Listed on Warsaw Stock Exchange - Results of the Research)

Disability Benefits for Victims of Traffic Accidents – Size of Compensations Offered by the Current Amount of Coverage in MTPL Insurance

Disability Benefits for Victims of Traffic Accidents – Size of Compensations Offered by the Current Amount of Coverage in MTPL Insurance
(Disability Benefits for Victims of Traffic Accidents – Size of Compensations Offered by the Current Amount of Coverage in MTPL Insurance)

Statistical Tools for Modeling Claim Severity

Statistical Tools for Modeling Claim Severity
(Statistical Tools for Modeling Claim Severity)

Relative Premium in Vehicle Insurance

Relative Premium in Vehicle Insurance
(Relative Premium in Vehicle Insurance)

The Impact of Discount Rate on Commercial Rates in the Czech Republic: The Cybernetic Approach

The Impact of Discount Rate on Commercial Rates in the Czech Republic: The Cybernetic Approach
(The Impact of Discount Rate on Commercial Rates in the Czech Republic: The Cybernetic Approach)

Influence of Political System on Merger Legislation

Influence of Political System on Merger Legislation
(Influence of Political System on Merger Legislation)

Changes in the Holding of Liquidity during the Present Financial Crisis

Changes in the Holding of Liquidity during the Present Financial Crisis
(Changes in the Holding of Liquidity during the Present Financial Crisis)

Analysis of Differences of Current Liquidity Indicators across Sectors

Analysis of Differences of Current Liquidity Indicators across Sectors
(Analysis of Differences of Current Liquidity Indicators across Sectors)

Modern Products in Corporate Banking

Modern Products in Corporate Banking
(Modern Products in Corporate Banking)

Notes to the Methods of the Medieval Numismatics

Notes to the Methods of the Medieval Numismatics
(Notes to the Methods of the Medieval Numismatics)

Mergers and Acquisitions in the Selected Countries of Central and Eastern Europe

Mergers and Acquisitions in the Selected Countries of Central and Eastern Europe
(Mergers and Acquisitions in the Selected Countries of Central and Eastern Europe)

Applying Benford's Law

Applying Benford's Law
(Applying Benford's Law)

The Factors Affecting the Accuracy of Business Failure Prediction Models

The Factors Affecting the Accuracy of Business Failure Prediction Models
(The Factors Affecting the Accuracy of Business Failure Prediction Models)

Determinants of Mutual Fund Industry Development in Countries of Central and Eastern Europe

Determinants of Mutual Fund Industry Development in Countries of Central and Eastern Europe
(Determinants of Mutual Fund Industry Development in Countries of Central and Eastern Europe)

Using Correlation Structure to Analyse Relation between ETFs with Particular Index as an Underlying and These Indices

Using Correlation Structure to Analyse Relation between ETFs with Particular Index as an Underlying and These Indices
(Using Correlation Structure to Analyse Relation between ETFs with Particular Index as an Underlying and These Indices)

Optimal Decision for Convertible Debt Financing - Some Observations from the American Mark

Optimal Decision for Convertible Debt Financing - Some Observations from the American Mark
(Optimal Decision for Convertible Debt Financing - Some Observations from the American Mark)

Investments Allocation Tax Factors in Pre-crisis Time

Investments Allocation Tax Factors in Pre-crisis Time
(Investments Allocation Tax Factors in Pre-crisis Time)

Cross-Sectional Examination of Classic Asset Pricing Models on the Russian Stock Market

Cross-Sectional Examination of Classic Asset Pricing Models on the Russian Stock Market
(Cross-Sectional Examination of Classic Asset Pricing Models on the Russian Stock Market)

The Impact of Indicators of Capital Structure on Profit of Viticulture and Viniculture Enterprises

The Impact of Indicators of Capital Structure on Profit of Viticulture and Viniculture Enterprises
(The Impact of Indicators of Capital Structure on Profit of Viticulture and Viniculture Enterprises)

Non-life Insurance Market in the Czech Republic and Slovakia

Non-life Insurance Market in the Czech Republic and Slovakia
(Non-life Insurance Market in the Czech Republic and Slovakia)

Fiscal Imbalances: How Should Public Finance React?

Fiscal Imbalances: How Should Public Finance React?
(Fiscal Imbalances: How Should Public Finance React?)

Influence of International Trade on Economic Growth

Influence of International Trade on Economic Growth
(Influence of International Trade on Economic Growth)

Hedging against a Price Rice Using Vertical Ratio Call Back Spread Strategy Formed by Barrier Options

Hedging against a Price Rice Using Vertical Ratio Call Back Spread Strategy Formed by Barrier Options
(Hedging against a Price Rice Using Vertical Ratio Call Back Spread Strategy Formed by Barrier Options)

Overconfidence as a Cognitive Bias and its Implications for Insurance Industry

Overconfidence as a Cognitive Bias and its Implications for Insurance Industry
(Overconfidence as a Cognitive Bias and its Implications for Insurance Industry)

Pharming in the E-banking Field and Protection Techniques against this Type of Fraud

Pharming in the E-banking Field and Protection Techniques against this Type of Fraud
(Pharming in the E-banking Field and Protection Techniques against this Type of Fraud)

Bayesian Estimation of Event Probability in Accident Insurance

Bayesian Estimation of Event Probability in Accident Insurance
(Bayesian Estimation of Event Probability in Accident Insurance)

How Do Risk Free Investment Options Change our Decisions under Risk?

How Do Risk Free Investment Options Change our Decisions under Risk?
(How Do Risk Free Investment Options Change our Decisions under Risk?)

The Establishment of VIG Group as a Marketing Strategy on the Insurance Market in the Czech Republic

The Establishment of VIG Group as a Marketing Strategy on the Insurance Market in the Czech Republic
(The Establishment of VIG Group as a Marketing Strategy on the Insurance Market in the Czech Republic)

IFRS as a Tax Base in a Small Open Economy

IFRS as a Tax Base in a Small Open Economy
(IFRS as a Tax Base in a Small Open Economy)

Funding Social Services in the Czech Republic in the Light of EU Legislation

Funding Social Services in the Czech Republic in the Light of EU Legislation
(Funding Social Services in the Czech Republic in the Light of EU Legislation)

Malaysia and Taiwan Acquiring Firms’ Short-run Performance in Cross Border Mergers and Acquisitions

Malaysia and Taiwan Acquiring Firms’ Short-run Performance in Cross Border Mergers and Acquisitions
(Malaysia and Taiwan Acquiring Firms’ Short-run Performance in Cross Border Mergers and Acquisitions)

Price vs. Performance Index – Comparison of the Czech PX with the DAX 30 and the EuroStoxx 50

Price vs. Performance Index – Comparison of the Czech PX with the DAX 30 and the EuroStoxx 50
(Price vs. Performance Index – Comparison of the Czech PX with the DAX 30 and the EuroStoxx 50)

Mergers of Business Corporations at the Czech Acquisition and Merger Market

Mergers of Business Corporations at the Czech Acquisition and Merger Market
(Mergers of Business Corporations at the Czech Acquisition and Merger Market)

Evaluation of the Use of Mediation to Resolve Disputes in Financial Services in the Czech Republic

Evaluation of the Use of Mediation to Resolve Disputes in Financial Services in the Czech Republic
(Evaluation of the Use of Mediation to Resolve Disputes in Financial Services in the Czech Republic)

Topological Properties of European Banking Network in Light of the Single Supervisory Mechanism

Topological Properties of European Banking Network in Light of the Single Supervisory Mechanism
(Topological Properties of European Banking Network in Light of the Single Supervisory Mechanism)

Relation of CSR and Market Measures of Financial Performance: International Evidence

Relation of CSR and Market Measures of Financial Performance: International Evidence
(Relation of CSR and Market Measures of Financial Performance: International Evidence)

Macroeconomic Factors and Commodity Price Volatility

Macroeconomic Factors and Commodity Price Volatility
(Macroeconomic Factors and Commodity Price Volatility)

Lease Type B and Possible Duplicate Recognition of Assets

Lease Type B and Possible Duplicate Recognition of Assets
(Lease Type B and Possible Duplicate Recognition of Assets)

The Analysis of the Threshold of Obligatory Offer Based on the Theory of Games for Companies from Index WIG30 in Poland

The Analysis of the Threshold of Obligatory Offer Based on the Theory of Games for Companies from Index WIG30 in Poland
(The Analysis of the Threshold of Obligatory Offer Based on the Theory of Games for Companies from Index WIG30 in Poland)

External Imbalances in the European Union Before and After the Financial Crisis

External Imbalances in the European Union Before and After the Financial Crisis
(External Imbalances in the European Union Before and After the Financial Crisis)

Capital Structure and Capital Disparity across the Economic Subjects in the Agricultural Sector in the Czech Republic Before and After the Financial Crisis

Capital Structure and Capital Disparity across the Economic Subjects in the Agricultural Sector in the Czech Republic Before and After the Financial Crisis
(Capital Structure and Capital Disparity across the Economic Subjects in the Agricultural Sector in the Czech Republic Before and After the Financial Crisis)

The Effect of Ownership Structure on the Performance of Manufacturing Companies

The Effect of Ownership Structure on the Performance of Manufacturing Companies
(The Effect of Ownership Structure on the Performance of Manufacturing Companies)

Corporate Non-life Insurance Claims: Empirical Evidence from the Polish Market

Corporate Non-life Insurance Claims: Empirical Evidence from the Polish Market
(Corporate Non-life Insurance Claims: Empirical Evidence from the Polish Market)

Product Quality and Performance of the Enterprise

Product Quality and Performance of the Enterprise
(Product Quality and Performance of the Enterprise)

Financial Literacy of Masaryk University Students with Focus on Socially Disadvantages Citizens

Financial Literacy of Masaryk University Students with Focus on Socially Disadvantages Citizens
(Financial Literacy of Masaryk University Students with Focus on Socially Disadvantages Citizens)

The Uncertainty Associated with the Estimated Lease Term and its Impact on the Financial Analysis Ratios

The Uncertainty Associated with the Estimated Lease Term and its Impact on the Financial Analysis Ratios
(The Uncertainty Associated with the Estimated Lease Term and its Impact on the Financial Analysis Ratios)

Do Fiscal Drivers Matter for Sovereign Risk Spread in EU15?

Do Fiscal Drivers Matter for Sovereign Risk Spread in EU15?
(Do Fiscal Drivers Matter for Sovereign Risk Spread in EU15?)

World Financial Frictions and the Czech Economy

World Financial Frictions and the Czech Economy
(World Financial Frictions and the Czech Economy)

Using Modern Quality Management Tools to Improve Finance and Business University Courses

Using Modern Quality Management Tools to Improve Finance and Business University Courses
(Using Modern Quality Management Tools to Improve Finance and Business University Courses)

Cost and Benefit of Accounting Information in Slovakia: Do We Need to Redefine Relevance?

Cost and Benefit of Accounting Information in Slovakia: Do We Need to Redefine Relevance?
(Cost and Benefit of Accounting Information in Slovakia: Do We Need to Redefine Relevance?)

Tax Considerations and Merger Activity in National and International Context: Empirical Evidence from the Czech Republic

Tax Considerations and Merger Activity in National and International Context: Empirical Evidence from the Czech Republic
(Tax Considerations and Merger Activity in National and International Context: Empirical Evidence from the Czech Republic)

The Development of Profitability of Merged Czech Companies

The Development of Profitability of Merged Czech Companies
(The Development of Profitability of Merged Czech Companies)

Assessing the Consequences of Global Financial Crisis in the System of Credit Risks Insurance

Assessing the Consequences of Global Financial Crisis in the System of Credit Risks Insurance
(Assessing the Consequences of Global Financial Crisis in the System of Credit Risks Insurance)

Performance Measurement in the Public Sector

Performance Measurement in the Public Sector
(Performance Measurement in the Public Sector)

Profitability Ratios in the Stock Selection Process on the Warsaw Stock Exchange. Analysis between 2001 and 2011.

Profitability Ratios in the Stock Selection Process on the Warsaw Stock Exchange. Analysis between 2001 and 2011.
(Profitability Ratios in the Stock Selection Process on the Warsaw Stock Exchange. Analysis between 2001 and 2011.)