Liberalistic globalization in transition countries leads to anti-globalization

Author(s): Dragomir Sundać / Language(s): English Publication Year: 0

The process of globalization is a lawful and objective process which no national economy can avoid, no matter how much it wants that or not. Thus, it is not necessary to avoid it. The main question that transition countries were trying to find an answer to at the beginning of the 20th century was, how to successfully enter the processes of globalization, that is, how to manage transition from non-market system to a market system.

Impérialisme, idéologies et opinions publiques dans les origines de la Grande Guerre (années 1890-1914)

Author(s): Julien Papp / Language(s): French Publication Year: 0

This study presents the role of the export of capital in the creation of the systems of alliance at the end of the 19th century. The author examines the case of Marocco, Russia and the Ottoman Empire. Then the study deals with the French diplomatical relations in Belgium, with the Balkan wars and the role of the press before the First World War.

The Banks of the Mafia State

Author(s): Éva Várhegyi / Language(s): English Publication Year: 0

In its first administration, the Orbán government had already recognized the potential opportunities in the banking sector. Out of the possible ways that the government could have managed the near-bankruptcy of Postabank,one was chosen that promised to provide a financial payout as well as a political one: it dismissed the bank’s managers in the summer of 1998 and made a move for its revenue.

Rok nových problémov

Author(s): Martin Vlachynský / Language(s): Slovak Publication Year: 0

Rok 2015 mal byť znova o Grécku, ale nakoniec ekonomika pripravila aj iné prekvapenia. Od prvého januára 2015 získala eurozóna 19. člena – Litva sa napriek čoraz vlažnejšej podpore eura medzi obyvateľmi akýmsi samospádom do eurozóny dostala. Oveľa väčšie napätie však bolo cítiť v súvislosti so zmenou počtu členov smerom dole.

Nepríjemné precitnutie

Author(s): Martin Vlachynský / Language(s): Slovak Publication Year: 0

Udalosti v Kyjeve, na Kryme, v Donbase a prepad cien ropy v roku 2014 spôsobili globálne problémy, ktorých následky si možno len domýšľať. Finančný kolaps Ukrajiny sa zdá byť nevyhnutný. Pár mesiacov po bombastickej zimnej olympiáde v Soči (ktorá stála toľko čo všetky zimné olympiády dokopy) sme svedkami rovnako bombastické- ho spľasnutia „uhľovodíkovej“ bubliny, ktorá má potenciál stiahnuť nielen Rusko, ale aj Venezuelu, Nigériu či ťažobné sektory vo vyspelých krajinách. Problémy Európy s jej percentami HDP hore-dolu okolo národných deficitov sa aspoň načas zdali byť detskou hrou. Napriek tomu všetkému však na záver roka 2014 vývoj v Grécku a Európe pripomenul rok 2010 a jej vlastné vnútorné starosti. Už bezmála zabudnuté témy sa vrátili ako bumerang. Pritom rok 2014 už vyzeral takmer ako rok zmeny k lepšiemu, aspoň čo sa (nielen) dlhovej krízy týka.

Budúcnosť hospodárskej a menovej únie – udržia štyri piliere strechu nad hlavou?

Author(s): Andrea Elscheková-Matisová,Roman Lajčiak / Language(s): Slovak Publication Year: 0

Rok 2012 sa do dejín zapíše ako prelomový v oblasti integrácie hospodárskej a menovej únie (HMÚ). V kríze sa Európska únia zmieta od roku 2008, ale doteraz na akútny vývoj reagovala skôr prostredníctvom ad hoc opatrení, ktoré boli v prvotnej reakcii síce nevyhnutné, no často nesystémové. V polovici roka 2012 sa situácia zmenila zverejnením správy predsedu Európskej rady Hermana Van Rompuya „Smerom k skutočnej hospodárskej a menovej únii“, na základe ktorej Európska rada na júnovom zasadnutí predsedu poverila vypracovaním podrobnejšieho plánu do decembra 2012. Správa predstavila náčrt integrovaného plánu na riešenie fundamentálnych problémov eurozóny rozčlenený do štyroch pilierov: bankovej únie, rozpočtovej únie, hospodárskej únie a posilňovania demokratickej legitimity a zodpovednosti.

Záchranca a zachraňovaný

Author(s): Martin Vlachynský / Language(s): Slovak Publication Year: 0

V septembri 2012 sa v médiách pripomínalo výročie krízy aj na politickej úrovni. Štyri roky predtým skrachovala štvrtá najväčšia investičná banka v USA Lehman Brothers, nasledoval prudký prepad ekonomiky v západnom svete, záchrany viacerých bánk a v roku 2010 dopadla kríza naplno aj na verejný sektor. Grécko muselo požiadať o pomoc po tom, ako vyšli najavo jeho zahmlievané deficity. Pol roka nato nasledovalo Portugalsko a Írsko.

Lidé jsou klíč. Co jsou to evropské sociální fondy?

Author(s): Lenka Zemanová / Language(s): Czech Publication Year: 0

Jak na fundraising

Author(s): Leona Hozová / Language(s): Czech Publication Year: 0

Polska wobec planów integracji budżetu strefy euro

Author(s): Kamilla Marchewka-Bartkowiak / Language(s): Polish Publication Year: 0

Wybór wariantu integracji budżetowej pozostaje jeszcze niewiadomy, lecz uznać należy, iż utworzenie docelowej wersji budżetu państw członkowskich Unii Gospodarczej i Walutowej powinno już teraz stać się przesłanką do dyskusji na temat przyszłości rozwiązań finansowych, które mogą łączyć kraje obecnie niewchodzące w struktury strefy euro, jak Polska. Dyskusja ta powinna także być przesłanką do modyfikacji dotychczasowego ujęcia korzyści i kosztów wejścia Polski do strefy euro.

2018: Doing well, but no plan B

Author(s): Martin Vlachynský / Language(s): English Publication Year: 0

The year 2018 started with a dip and ended with a dip. While the first encouraged investors to buy, the second sowed fear. With fiscal difficulties in France and Italy, Brexit plans going round in circles and a headstrong president in the US, recession became a popular topic of discussion in late 2018. Meanwhile, Slovakia’s economic policy suggested there was little to worry about in the future.

THE INFLUENCE OF MACROECONOMIC INDICATORS ON THE DEVELOPMENT OF SENIOR ENTREPRENEURSHIP

Author(s): Mihaela Mikić,Tin Horvatinović,Ivana Kovač / Language(s): English Publication Year: 0

Senior entrepreneurship, either as a partial employment option used to make additional income for a pension or as a full career option, is a tool for improving senior citizens’ economic position, quality of life, and self-actualization. The goal of this chapter is to identify macroeconomic indicators that can influence the development of senior entrepreneurship. The macroeconomic indicators investigated include GDP, unemployment, inflation, average salary, retirement age, and poverty risk. Research results showed two significant variables that influence the development of senior entrepreneurship: GDP and inflation. GDP was found to have a positive relationship, while inflation had a negative one. The limitations of this research include a lack of data, which limited research to only 11 countries in the European Union instead of all of them. Moreover, because the theory basis is very limited, it is hard to identify variables of interest. It is possible that because of this, none of the social security system variables showed as significant. Recommendations for future research would include further investigation of the influence of the economic environment on senior entrepreneurship to create a base for quality policy measures for its development and to broaden the investigation to include other types of environments. Furthermore, the motivation for starting a business in senior years should be investigated more, including economic and social perspectives.

Правна същност и особености на консорциалните дългове при неправосубектния консорциум

Author(s): Dimitar Atanasov / Language(s): Bulgarian Publication Year: 0

The following paper explores some of the legal aspects of consortial debts and obligations in the unincorporated consortium. The article proposes a definition of the term, outlines the main forms of consortial debt and obligations and examines their defining characteristics. Based on the typical interests and reasonable expectations of consortia creditors and the usual contractual practice a conclusion is made that in absence of agreement with the creditors to the contrary a joint and several obligation arises as a default rule and all consortia members are jointly and severally liable for damages in case of nonperformance that constitutes a breach of contract regardless of their personal fault. The paper furthermore outlines some of the defining characteristics of the consortial duty and standard of care which is reasonably expected from consortial members when fulfilling their obligations. In the concluding remarks the paper proposes a de lege ferenda default rule of joint and several liability of consortial members.

АНАЛИЗ И ОЦЕНКА НА ЮТИЛИТИ КОМПАНИИ В САЩ

Author(s): Ivan Dinkov Hristov / Language(s): English Publication Year: 0

In this paper some of the utility companies in the USA have been examined in terms of dividend payouts, current financial evaluation and potential for future growth. They provide services that are necessities and that is why, these companies are being regulated by the local governments. Dividend payouts, current financial evaluation and potential for future growth will be used to draw some conclusions about investing in that sector.

Judaika v Archivu České národní banky

Author(s): Lenka Vrchotová / Language(s): Czech Publication Year: 0

The research community tends to associate the Archive of the Czech National Bank (“the Archive”) primarily with archival documents that are of importance for research on economic history, especially the history of banking, because the archival materials housed there are mostly the institutional fonds of Czechoslovak monetary institutions. This paper shows, however, that research in the Archive’s holdings can provide answers to questions relating to the clients (both corporate and individual), rank-and-file employees, and Jewish managers of these institutions. It acquaints us with the documents of Judaica in the Archive with focus primarily on the source base for three specific areas: bank clientele, the staff policies of monetary institutions, and Jewish financial elites. Particular emphasis is placed on sources that have either not been used by the research community at all or that have been studied only marginally. The paper also provides a survey of research interest in the study of Judaica in the Archive of the Czech National Bank between 2010 and 2020. This shows that research interest in this topic has been relatively constant over the last ten years, but also that researchers on Jewish history have not yet made full use of the diverse archival holdings in the Archive. Three reasons are provided as to why this is the case: there is limited awareness of the sources in the Archive; fewer archival documents now need to be traced by the Czech Republic’s Joint Working Commission dealing with the mitigation of property injustices inflicted on Holocaust victims; and the focus of research on banking history in the Czech Republic is not oriented toward Jewish-related topics.

THE LEGAL REGIME FOR THE TAXATION OF BUSINESS PROFITS IN THE LIGHT OF THE OECD1 MODEL CONVENTION ON INCOME AND CAPITAL TAXES

Author(s): Alexandru Armeanic,Anatolie Cananău / Language(s): English Publication Year: 0

The OECD Model Convention on Income and on Capital Taxes deals in Article 7 with the tax treatment of profits of enterprises from economic activities, with the exception of those from shipping and aviation (set out in Article 8). The research also carried out a correlative analysis of other articles of the Convention, given the importance, as an interpretative component, of the application of the provisions of Article 5 (on permanent establishment) with those of Article 7 (profits of enterprises). The correct application of Article 7 is conditional on a proper understanding of the concept of permanent establishment, and numerous arguments are put forward in support of this assertion. This is apparent from the very structure of the first paragraph of Article 7, which lays down the rule for taxation of profits from business activities by the State of residence. There is an exception in this case: where the taxable person carries on business activities using a permanent establishment situated in the source State, the right of taxation accrues to the source State, but only in respect of those profits which arise from activities carried on in the permanent establishment. In other words - the source State will not be able to tax profits arising from business carried on in the territory or to the extent that they do not arise from activities carried on at the permanent establishment.

The management effectiveness of the company – the determinant of economic growth

Author(s): Tsvetelina Nenkova / Language(s): English Publication Year: 0

In modern conditions, against the backdrop of dynamically developing socio-economic relations on an international scale, the issues related to the management effectiveness and the possibilities for its improvement are becoming increasingly widespread and relevant. Its role as a key factor for the "viability of any business organization" defines it as a critical determinant in the discussion of alternative solutions and the identification of strategic directions affecting the functioning and the economic development of the company. This fact makes its determination and analysis into an objective necessity.

How artificial intelligence is changing investment management

Author(s): Radostin Boyadzhiev / Language(s): English Publication Year: 0

Artificial Intelligence (AI) is a key technology that is changing our lives right now. But the predictions are that it will lead to even greater changes in our lives. It is currently used in: marketing and advertising, online shopping, automobiles, personal digital assistants, smart homes, pattern recognition, manufacturing, logistics and many other fields. Despite its use in our everyday life, it should be noted the fears of some people, mostly related to the loss of jobs. But how is AI changing the world of investing? The introduction of this technology in the field of investment and portfolio management is associated with activities such as: fundamental and technical analysis; Risk Management; portfolio optimization and reduction of management costs. The report will look at how AI is being used in each of these areas of investment management.

Opportunities to Develop Digital Financial Services

Author(s): Ioannis Dalamagkas / Language(s): English Publication Year: 0

Creating new financial services is a complex and responsible task. Its good implementation can only be achieved with a very good knowledge of the stages in the implementation of new services. For these reasons, in the present study, efforts are concentrated in the direction of clarifying the individual phases and stages in the process of creating new financial services. In conclusion, the main achieved results are formulated.

Стил на маркетингово управление на търговските банки в България

Author(s): Tzvetelina Borisova / Language(s): Bulgarian Publication Year: 0

The banking sector today faces a highly competitive environment with an oversupply of services. In this context, enhancing the management of commercial banks becomes a critical aspect of their operations. Key areas for improvement include: aligning organizational and managerial structures with the market dynamics, optimizing management strategies and practices, expanding the information technology framework for management, and refining management styles and the social atmosphere within the institution. This research aims to examine the primary factors influencing marketing management within commercial banks, specifically in relation to the „Loans and leasing for agribusiness“ market segment in Bulgaria. The goal is to pinpoint the key factors that marketing managers integrate into their management approach and to understand how these factors impact the banks‘ presence in the targeted market segment. The study encompasses all 23 commercial banks operating in the country.