Journal articles on the topic 'Financial institutions – Czech Republic'
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1
Janovec, Michal. "Public Administration on the Financial Market in the Czech Republic." Public Governance, Administration and Finances Law Review 2, no. 2 (December 31, 2017): 30–41. http://dx.doi.org/10.53116/pgaflr.2017.2.2.
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This article is dealing with licencing of the financial institutions on the financial market. Licence procedure is a special administrative procedure dealing with systemic important institutions – banks. Good public administration in this area is a basic prerequisite for stabile financial market, because only those institutions proven to be good and stable enough might pass through the difficult administrative procedure, which is licencing procedure. This article aims to confirm or refute the hypothesis that a proper and consistent procedure of taking away licences supports the general objective of regulation and supervision, namely the maintenance of financial market stability.
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Bayar, Yilmaz, Marius Dan Gavriletea, and Dragoş Păun. "IMPACT OF MOBILE PHONES AND INTERNET USE ON FINANCIAL INCLUSION: EMPIRICAL EVIDENCE FROM THE EU POST-COMMUNIST COUNTRIES." Technological and Economic Development of Economy 27, no. 3 (April 13, 2021): 722–41. http://dx.doi.org/10.3846/tede.2021.14508.
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Poverty alleviation has become one of the biggest challenges for many countries and access to financial services is considered to be a key driver of development and economic growth. Finding solutions that can break down barriers that poor people are facing to access formal financial services has become a major concern for researchers, governments, financial institutions. Financial services must reinvent themselves and the adoption of new technology is a crucial key to overhaul their operations and to find innovative solutions to manage customer expectations. The escalation in access and penetration level of mobile phones and the Internet can improve financial inclusion by facilitating easy access to financial services, by providing secure transaction platforms, by reducing transaction costs, by providing a competitive business framework. There has been relatively limited research on the impact of Internet and mobile phones use on financial inclusion, therefore our main purpose was to investigate this linkage in a sample of 11 post-communist countries of the European Union from 1996–2017 using panel cointegration and causality analyses. Firstly, we investigated whether mobile cellular phone subscriptions and the rate of Internet usage affect financial institutions’ access; secondly, we analysed the impact of these variables on financial market access. Results indicate that mobile cellular phone subscriptions positively affect both financial institution access in countries like Hungary, Latvia, Lithuania, Poland, and Slovenia and financial market access in Bulgaria, Croatia, and Hungary. Also, a negative relationship between mobile cellular phone subscriptions and financial institution access was noticed in the Czech Republic and regarding financial market access in the Czech Republic and Poland. Our findings also indicate both positive and negative relationships between Internet usage rates and financial institutions and financial markets access. By increasing Internet usage we can improve access to financial institutions in Bulgaria, Croatia, Czech Republic, Hungary, and Poland and we can increase financial markets access in Latvia and Slovenia.
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Vincenc, Jakub. "Fisim Methodology and Options of Its Estimation: the Case of the Czech Republic." Statistika: Statistics and Economy Journal 102, no. 3 (September 2022): 347–59. http://dx.doi.org/10.54694/stat.2021.26.
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Financial intermediation services indirectly measured, or simply FISIM, is an adjustment made in national accounts which constitutes significant element in output of the financial institutions. Therefore, the methodological aspects of this adjustment are still broadly discussed issue. In case of the Czech Republic, the institution responsible for the estimation is the Czech Statistical Office. The paper deeply analyses the approach of this institution and compare it with opinions of many authors. Based on this literature research, the aim of this paper is to propose improvements in the current estimation and find out other options how to estimate the most accurate value of FISIM.
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Van Ophem, JAC, V. Kohout, and W. J. M. Heijman. "Transition economy and happiness the Czech Republic compared with the Netherlands in the 1990- 2004 period." Applied Studies in Agribusiness and Commerce 10, no. 2-3 (August 1, 2016): 119–26. http://dx.doi.org/10.19041/apstract/2016/2-3/13.
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The paper deals with the subject Transition economy and happiness – a case study of the Czech Republic in a comparison with The Netherlands in the 1990- 2004 period. The paper addresses the following two questions: 1. How has the level of happiness changed since 1990 in the Czech Republic and in The Netherlands? 2. Are there differences with respect to variables that explain differences in happiness between both countries. It appears that. at the beginning of the 1990s of the last century, the Czechs were less happy than the Dutch and, that, people in the Czech Republic were less happy in 1999 than they were in 2004. Furthermore, Happiness in the Czech Republic is approaching the level of happiness in The Netherlands. In both countries happiness is positively affected by subjective health status, perceived freedom of choice over life, being married or living together and satisfaction with one’s financial situation and having trust in social institutions. But there are differences with respect to the impact of age, education and religion .
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Nikitin, Jana, Maria Clara P. Paula de Couto, Sylvie Graf, and Klaus Rothermund. "Country Differences in Financial Preparation: What Do People Expect From the State?" Innovation in Aging 5, Supplement_1 (December 1, 2021): 191. http://dx.doi.org/10.1093/geroni/igab046.728.
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Abstract A considerable gap between one’s pension and living expenses in old age exists in almost all developed countries, making savings and financial preparation for old age inevitable. Nevertheless, financial preparation for old age substantially differs across countries. Using the data from the AAF project, we investigated what motivates people in different countries (USA, Germany, Czech Republic, Hong Kong, and Taiwan) to financially prepare for old age. Financial preparation was the highest in the USA, followed by Germany and the Czech Republic. The lowest levels of financial preparation were found in Hong Kong and Taiwan. These differences were explained by age-related expectations on a “paternalistic” role of the state: Greater endorsement of the idea that the state should provide financial support to older citizens led to less preparation. These findings are in line with the idea that individuals’ beliefs and expectations regarding the role of institutions shape personal actions.
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Andrlík, Břetislav. "Administrative costs of property tax in the Czech Republic." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 58, no. 6 (2010): 13–20. http://dx.doi.org/10.11118/actaun201058060013.
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The paper deals with the efficiency of property taxes in the tax system of the Czech Republic, focusing on the administrative costs of taxation on the timeline 2005 to 2008. It contains a theoretical definition of tax efficiency, and describes the types of costs connected with taxes. From this perspective it focuses on quantifying the direct administrative costs of inheritance tax, gift tax, property transfer tax and property tax. Direct measurement of administrative costs is done by using the method called WTE staff which classifies employees of regional financial institutions in separate groups and assigns each group a specific number of employees for each reference property taxes using the conversion factors. Then it defines the total expenditure of regional financial institutions using the coefficients for a particular monitored tax and it provides administrative costs as a percentage of property tax receipts. Finally, the results of measurements indicating the proposed amendment are discussed.
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Romaniuk, Joanna, and Anna Sznajderska. "Institutional Changes in Financial Systems of Poland and the Czech Republic." Comparative Economic Research. Central and Eastern Europe 16, no. 1 (April 30, 2013): 123–42. http://dx.doi.org/10.2478/cer-2013-0008.
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Over the past 23 years the financial sectors in both Poland and the Czech Republic have changed beyond recognition. The process of transformation was a tough and challenging task in both countries. There were significant differences in the initial conditions, as well as approaches to the transformation process, in Poland and the Czech Republic. It seems that according to the classification of Knell and Srholec (2005), the two countries represent different types of capitalism. In this article we try to demonstrate that the organization and development level of the financial systems in these seemingly similar countries are different as well. The primary objective of the study is to compare the path of development and today’s performance of the financial systems in Poland and in the Czech Republic.
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Horňáková, Lucia, and Marek Prokůpek. "Acquisition Fund: An unrecognised treasure within the cultural policy of the Czech Republic." Muzeológia a kultúrne dedičstvo 9, no. 2 (2021): 45–59. http://dx.doi.org/10.46284/mkd.2021.9.2.3.
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The paper elaborates on the Acquisition Fund for Contemporary Art established in 2017 in the Czech Republic by the Ministry of Culture. Paradoxically, this fund is perceived both positively and negatively by various institutions. On the positive side, from the year 2017 to 2019, the fund has allocated 41,257,888 CZK (1,517,753 EUR) for the purchase of 287 artworks by 29 institutions. On the negative side, only 29 out of 218 eligible institutions have applied for support from the fund during the three years of the fund’s existence. This low application rate is attributed partly to the time consuming and complicated administration of the application for support, and partly to apprehension from some institutions regarding the likelihood of the actual realisation of the receipt of financial support. In turn, due to this low application rate, the institutions that have applied have had a high probability of receiving funding. The paper sheds new light on the lack of financing for acquisition in art institutions and opens the question of the effectiveness of the Acquisition Fund in the Czech Republic.
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Fichtnerová, Eva, and Jitka Vacková. "Integration services for foreign scientific and academic staff in the Czech Republic." Problems and Perspectives in Management 20, no. 4 (November 16, 2022): 166–80. http://dx.doi.org/10.21511/ppm.20(4).2022.13.
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This study analyzes the status of integration services for foreign highly skilled staff at higher education and scientific institutions in the Czech Republic. This paper is relevant as it is essential to obtain data and information about services and possible barriers affecting the quality of life and professional experience with work migration to another country. The study conducted a survey and obtained feedback from 221 respondents. Quantitative data were analyzed in SASD 1.4.10. and SPSS. Moreover, the paper employed qualitative research in the form of open-ended questions processed by open coding in Atlas.ti 7.The analysis described the quality of the employer’s services, their offer, and frequency, as well as satisfaction with the work and social environment in the Czech Republic. Barriers to integration were identified; they include complicated administration, the need to learn the Czech language, and cultural and mental differences. Deficiencies in services for common life necessities were highlighted, e.g., provision of suitable accommodation, adequate school facilities for children, dual-career jobs, or medical treatment. The study resulted in the idea of the introduction of a service system, based on coordinated social services, for the reception of experts from abroad and better conditions for their integration. This system will increase the attractiveness of Czech institutions to the influx of brains from abroad. AcknowledgmentThe authors received no financial support for the research, authorship, and/or publication of this paper.
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Gláserová, Jana. "Accounting methodical approaches of business entities in comparisson to bank accounting and to insurance company accounting in the Czech Republic." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 58, no. 6 (2010): 133–42. http://dx.doi.org/10.11118/actaun201058060133.
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Bank and insurance must follow the ACT on Accounting No.563/1991 in their financial statement preparation. Banks must use the special decree of Ministry of Finance for Banks and other financial institution due to their special operations and requirements Czech National Bank. The methodical approach to the valuation and recording of basic items balance sheet in banks and other financial institutions are compatible with IAS/IFRS. As well insurances must use special decree of Ministry of Finance for Insurances due to their special operations – cession of insurance. The paper is concerned with the basic items of balance sheet banks and insurances and its comparations with balance sheets of other business entities.
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Flégl, Martin, Igor Krejčí, and Helena Brožová. "Impact of Score Recalculation of Publication Evaluation on the Czech Higher Education Institutions." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 64, no. 1 (2016): 245–54. http://dx.doi.org/10.11118/actaun201664010245.
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The evaluation of the publication outputs in the Czech Republic is based on the methodology from the Research, Development and Innovation Council. This methodology assigns a score to each output according to a various categories. The evaluation is carried out for 5 year-long sliding period. However, the assigned score for an output is published with more than a year delay. Moreover, the assigned score, in most of the cases, does not correspond with the scientists’ first calculation, which was made according to the generally known rules. The impact of this issue on the chosen scientific organisations, Higher Education Institutions (HEIs), is the topic of this paper. The evaluation and analysis of the financial impact of this gap on the Czech higher education institutions’ budgets is provided with data from the years 2007 to 2012.
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Janský, Bohumír. "Changing Water Quality in the Czech Part of the Elbe Catchment Area in the 1990s." Geografie 107, no. 2 (2002): 98–110. http://dx.doi.org/10.37040/geografie2002107020098.
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The Elbe is the largest river of the Czech Republic. On the state boundary it has an average long-term flow rate of 315 m3/s and it drains 2/3 of Czech territory into the North Sea. The alluvial plain of the Elbe was from the very beginning of our history an important migration corridor and later it gained a substantial economic significance. The impulse for the cooperation of Czechs and Germans on the Elbe was the unification of Germany. In 1990 an "Agreement about the International Commission for the Protection of the Elbe" was signed, and in 1992 regular Czech-German expert seminars started to take place. Geographers from the Faculty of Sciences of Charles University in Prague participated in the cooperation with German academic institutions. They introduced some new methodical approaches into the research of surface water quality and they achieved a number of valuable results. In twelve years of intensive scientific activities and substantial financial investments into the sanitation of sewage water from the largest pollution sources, water quality in the Elbe has improved markedly.
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Svobodová, Libuše, and Martina Hedvičáková. "Mortgage Loans and Impacts of the Global Pandemic COVID-19 in the Globalized Society." SHS Web of Conferences 92 (2021): 01047. http://dx.doi.org/10.1051/shsconf/20219201047.
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Research background: The paper is focused on the financial product, esp. on mortgage loans that are often used products in the field of long-term financing in the Czech Republic. These products provide commercial banks and other financial institutions on the Czech globalized financial market. Purpose of the article: The aim of the paper is to analyze the situation on the globalized financial market focused on the mortgage loans and loans from building societies in view of the global Covid-19 pandemic. Methods: Firstly a theoretical background with a review of the literature is provided, then research methodology is described, the key part brings results of development of mortgage loans, development of interest rates and the analysis of the current situation on the mortgage loan market with estimation of future development. The last part is focused on the comparison of selected mortgage loans provided by five financial institution. The article is based on primary and secondary sources. A detailed research together with the analysis and critical assessment of accessible materials will enable to identify the main objectives in the field of study. Findings & Value added: Interest rates on mortgage loans have on the Czech market downward trend in the last years. The best conditions scored in 2019 loan from building society Modrá pyramida. The overall situation in 2020 cause lower interest rates in the mortgage loans. Lower annual percentage rate of charge and smaller monthly mortgage loan repayment and the total overpayment also correspond.
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Srnec, K., J. Svitaková, M. Výborná, and P. Burian. "Microfinance as a suitable instrument of European and Czech development cooperation." Agricultural Economics (Zemědělská ekonomika) 57, No. 11 (December 2, 2011): 529–33. http://dx.doi.org/10.17221/52/2011-agricecon.
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European countries use microfinance as an instrument of development cooperation in three separate forms, which differ in the financial flow. In the first type, the government transfers grant money to their non-government organizations (NGOs), which then distribute the funds directly to the local microfinance institutions (MFIs) (eg. Finland). In the second form, the funds are sent through to the branch-offices of the NGOs located in the developed country to developing countries (eg. Norway, Sweden). The third type allows for a direct relationship between a donor country development co-operation agency and a local microfinance institution in a developing country without intermediation of the developed country NGOs (eg. Great Britain, Germany). The Czech Republic currently does not support microfinance by the direct/indirect transfer of funds, but it promotes the awareness of the Czech NGOs and the public of microfinance as a tool for the economic development.
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Foltýnek, Tomáš, and František Čech. "Attitude to plagiarism in different European countries." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 60, no. 7 (2012): 71–80. http://dx.doi.org/10.11118/actaun201260070071.
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Plagiarism is an important and frequently discussed issue, which may have severe financial impacts for higher education institutions across Europe. However, there are different attitudes to this topic in different countries. Whereas ECTS aims to provide an objective measurement of student effort allowing students to spend part of their studies at different institutions and even different countries, the penalties for plagiarism and other types of cheating may be different. Even the definition of plagiarism may be understood differently in particular European countries. One of the aims of the project IPPHEAE is to identify these differences and try to find common solutions for related problems.The aim of the paper is to present results of research focused on attitudes to plagiarism in Great Britain, Czech Republic, Poland, Lithuania, Cyprus and Bulgaria. A questionnaire survey was conducted in these countries among students and teachers. The results are interesting and inspiring and show huge differences in attitude to plagiarism between western and post-communist countries, surprisingly including the Czech Republic in the group of western countries.
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Musílek, Petr. "Institutional Arrangement of Financial Markets Supervision: The Case of the Czech Republic." European Financial and Accounting Journal 3, no. 4 (December 1, 2008): 6–21. http://dx.doi.org/10.18267/j.efaj.87.
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Otavová, Milena. "Harmonisation efforts in the field of accounting of public sector." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 59, no. 4 (2011): 195–202. http://dx.doi.org/10.11118/actaun201159040195.
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Increasing requirements for financial reporting of public sector led to a need to create a system that would provide relevant and reliable information for management of accounting entities of public sector and also to increase the quality of accounting and financial statements of public institutions. The International Public Sector Accounting Standards Board (IPSASB) is therefore creating high-quality financial reporting standards for public sector (IPSAS). Paper points out the ongoing reform of accounting in the field of public finances in the Czech Republic, where there are substantial changes in accounting rules and it also introduces new accounting methods. Regarding the fact that accounting of public sector is nowadays accounting system perhaps with the greatest potential of development, paper highlights the differences in financial reporting in accordance with Czech legislation and IPSAS system. It tries to catch the essential differences that arise from the financial legislation, the accounting basis and also from the content of financial statements. The paper also indicates the difference between Czech Accounting Standards for selected accounting entities that maintain accounts in accordance with Decree No. 410/2009 Coll. and International Public Sector Accounting Standards (IPSAS). There is also recommended approach to the creation of national standards with regard to international harmonization.
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Chmelíková, Gabriela, Annette Krauss, and Francois Lategan. "Microfinance as a Mechanism against Financial Exclusion in the European Rural Areas – an Inspiration for the Czech Republic." Agris on-line Papers in Economics and Informatics 13, no. 4 (December 30, 2021): 61–69. http://dx.doi.org/10.7160/aol.2021.130406.
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One of the factors influencing the emergence of disparities between rural and urban regions is the varying level of financial inclusion of the population. The system of microfinancing is becoming an important mechanism against poverty and social exclusion in Europe. However, there is available very limited legal, regulatory and historical information on the microfinance system in the Czech Republic. As a result, microfinance institutions are absent and small entrepreneurs tend to use expensive consumer credit products, thereby increasing the risk of over-indebtedness. The aim of this research is to examine the repayment performance of the European microfinance institutions with increased share of clients from rural areas. Based on an empirical statistical analysis of an unique European microfinance institutions´ database, we are presenting evidence that suggests that microfinance systems perform better in rural than in urban areas. This finding is strongly recommended for consideration in the development of policies to guide legal frameworks regarding microfinancing.
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Hudáková Stašová, Lenka. "Assessment of Audit Activities in the Public Administration with a Focus on the Types of Audits : Practice in the Public Sector of the V4 Countries." Pénzügyi Szemle = Public Finance Quarterly 67, no. 3 (2022): 448–62. http://dx.doi.org/10.35551/pfq_2022_3_8.
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This paper focuses on audits of public administrations performed by Supreme Audit Offices (SAO). The aim of the paper is to assess the performance of audit activities by the highest audit institutions in the Visegrad Four (V4) countries with a focus on the types of audits performed (compliance audits, performance audits, financial audits) in the period of 2005-2020. Pearson’s correlation coefficient and Spearman’s correlation coefficient were used to test the set hypotheses. The study focuses on the relationships between the number of audits performed (especially compliance audits and performance audits) and the volume of audit findings, recommendations and actions. Compliance audits predominate in the Slovak Republic and Hungary. However, the current trend is to gradually increase the share of performance audits. Most performance audits were carried out in the Czech Republic. The analysis found a statistically significant relationship between the number of performance audits performed and the number of auditors’ recommendations in Poland and Hungary. In addition there is a statistically significant relationship between the number of performance audits performed and the number of audit findings in Poland and the Czech Republic.
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Šedová, Jindřiška. "Changes in New Private Law of the Czech Republic and Implementation of Basel III." International Journal of Applied Mathematics and Informatics 15 (November 16, 2021): 37–42. http://dx.doi.org/10.46300/91014.2021.15.6.
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Competition in the financial market puts currently new requirements for cost reduction on financial institutions. Available sources of cost reduction are seen i.a. in minimizing legal risks, which can reduce the uncertainty associated with enforcement and interpretation of legal acts, treaties and regulations in the field of contractual obligations. In this regard, banks in the Czech Republic are looking for new ways to reduce costs in the ongoing implementation of Basel II and preparation for implementation of Basel III. The central problem to which attention is focused is to ensure the required level of capital adequacy. This is conditioned i.a. by their risk management system. Capital adequacy may affect credit risk substantially. Besides others, the level of credit risk may be affected to a considerable extent by application of hedging instruments. This paper presents conclusions of the executed comparison of the existing and new private law provisions in the Czech Republic and, based on that, draws new opportunities and difficulties for banks in managing their credit risk and capital adequacy. The focus is only on the hedging instruments that may affect the activities of banks in a significant way.
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Siuda, Vojtěch, and Milan Szabo. "Measuring Sovereign Credit Risk of the EU countries." Journal of Central Banking Theory and Practice 10, no. 3 (September 1, 2021): 169–92. http://dx.doi.org/10.2478/jcbtp-2021-0030.
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Abstract European countries have increased significantly their public debt since the Global Financial Crisis. The increasing trend and the high concentration of public debt in portfolios of financial institutions can lead to a financial turmoil we witnessed during the European Sovereign Debt Crisis. Financial stability authorities therefore look for models to measure the sovereign credit risk and develop“what-if”scenarios to assess a potential repercussion of a financial institution rescue or of an economic contraction on sovereign credit risk. The presented article introduces adjustments to the sovereign contingent claims analysis that is based on the Merton´s Credit Risk Model and the Black-Scholes option pricing techniques. The article proposes adjustments by introducing a new view on a stylised liability side of a central government balance sheet, seniority of its items, and a new proxy for risk measure of junior claims. We show reliable results using derived risk sensitivities for 20 EU countries with decent forward looking ability and propose potential stress-testing framework with an application for the Czech Republic.
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Bethlendi, András, and Katalin Mérő. "Changes in the Structure of Financial Intermediation – Eastern-Central European Developments in the Light of Global and European Trends." DANUBE 11, no. 4 (December 1, 2020): 283–99. http://dx.doi.org/10.2478/danb-2020-0017.
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Abstract The article analyses the structural changes of the financial intermediary system of Eastern-Central European (ECE) countries, that joined the EU in 2004, namely the Czech Republic, Hungary, Poland, Slovakia and Slovenia (ECE5) in the light of global and European trends from 2004 to 2016. Its two main focuses are the characteristics of the structural shifts and interconnectedness between banks and financial markets, on the one hand, and the size and specificities of shadow banking systems, on the other. Despite the limited catching up of the region the ECE5 countries has a much less deep and more bank-based financial system than their European counterparts without the emergence of significant market-based banking and shadow banking. However, while in the developed countries the most important shadow banking institutions are the non-money market mutual funds, in ECE5 countries other non-bank financial institutions are those that potentially exposed to shadow banking risk.
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Kučera, Zdeněk, Tomáš Vondrák, and Odřej Pecha. "Research and development in the field of Artificial Intelligence in EU framework programmes." ERGO 14, no. 2 (October 1, 2019): 1–14. http://dx.doi.org/10.2478/ergo-2019-0005.
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Abstract The aim of this contribution is to evaluate the cooperation of the European countries in projects related to the AI in the 7th Framework Programme (FP7) and in the current Horizon 2020 Programme. The analysis is based on the information obtained from European Commission database eCORDA (External COmmon Research DAtawarehouse). Dynamic scientometric maps were constructed to describe in more detail the collaboration of European subjects in the EC funded AI research. Within the FP7, 1223 projects in the AI field received roughly 2,8 billion €. In the current H2020 programme the EC has already provided 2,1 billion € for 1081 projects in AI. In the FP7, higher education institutions dominated in both the number of awarded project and the received financial support. In the H2020 programme, a profound shift favouring business enterprise sector occurred. Approximately one third of AI projects in the FP7 was in the thematic area Information and Communication Technologies. In the H2020 programme the EC extended the support further to other thematic areas including global societal challenges especially in the field of transport and security. The extent of the involvement of the member countries varies extensively. The countries above average participating in the AI projects are Germany, Italy, Austria, Spain, Portugal, and Slovenia. The Czech Republic falls in the group of less participating countries. The Czech Republic also exhibits a smaller increase of the participation between RP7 and H2020. Universities involved in approximately two thirds of AI project have dominated in the Czech participation in the FP7. In the H2020 program their share in the AI project decreased by approximately 10 percent points. On the other side, their share of financial support was conserved. The most participating universities were the Czech Technical University Prague (24 projects, and 30% share of the EC contribution for the Czech AI projects) and the Brno University of Technology (14 projects, and 12,4% financial share). In the business enterprise sector Honeywell International s. r. o. attained the highest participation. The Czech subjects collaborate most frequently with German, British, Italian and French research teams.
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Otavová, Milena, Pavel Semerád, Matěj Maják, and Jana Gláserová. "Taxation of non-profit organizations and tax assignments in the Visegrad countries." Trendy v podnikání 11, no. 3 (2021): 3–15. http://dx.doi.org/10.24132/jbt.2021.11.3.3_15.
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The tax regime and the subsequent funding of non-governmental non-profit organizations through the institution of tax assignations in the Visegrad countries is the main topic of this paper.The issue of taxation is discussed with the aim of proposing changes and recommendations and reducing administrative costs of non-profit organizations in the Czech Republic. In the area of financing, the issue of tax assignations as one of the options of state financial support for the non-profit sector is explored.They are not introduced in the Czech Republic, however, in the other countries of the Visegrad countries this institution is already incorporated into their tax systems. The aim of the paper is to confirm or possibly refute the benefits of the concept of tax assignations for the current Czech tax system. The impacts of the introduction of tax assignations are identified on the basis of comparison of tax models. Analysis of statistical data was used to explore whether tax assignations affected the amount of transfers to non-governmental organizations and whether tax assignations could be an additional source of funding for non-profit organizations in the Czech Republic.
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Bečica, Jiří. "Income Self-Sufficiency and Profitability of Professional Theatres in the Czech Republic." Review of Economic Perspectives 18, no. 3 (September 1, 2018): 285–99. http://dx.doi.org/10.2478/revecp-2018-0014.
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Abstract The paper assesses the professional theatres operating under the Association of Professional Theatres in the Czech Republic in the period 2011-2015 using the financial analysis, particularly the profitability indicator ratio (ROA, ROCE, ROE, ROS) and the rate of income self-sufficiency. The reason for this economic exploration of theatres is in the fact that the service they provide fall under collectively provided public goods (a common feature of most cultural institutions), and that the market is not able to effectively secure these goods on the profit principle. The J. K. Tyl Theatre in Pilsen, the Drak Theatre in Hradec Králové and the Moravian Slovakia Theatre in Uherské Hradiště have reported the best results of profitability indicators. Whereas the worst results in profitability have been reported for the North Bohemian Theatre of Opera and Ballet in Ústí nad Labem, the Antonín Dvořák Theatre in Příbram and the South Bohemian Theatre in České Budějovice. The rate of income self-sufficiency within 2011-2015 ranges from 12-55% of the total budget volume, and volume and shows a strong dependency of professional theatres on foreign resources, particularly from public resources of the local levels of the government being the most common funder of these cultural institutions. It turns out that, from the economic point of view, it is illogical to transform non-profit contributory organizations in culture with a public funder into a different legal form when the purpose of the establishment and the funder remain preserved. Better results are generally obtained from single-genre theatres and, in terms of the auditorium size, smaller theatres focusing on drama or children's production.
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Bilenko, Yuriy. "ECONOMIC AND INSTITUTIONAL FUNDAMENTALS OF THE DIVERGENCE OF DEVELOPMENT PATHS IN CENTRAL AND EASTERN EUROPE." Ekonomika 92, no. 3 (January 1, 2013): 24–40. http://dx.doi.org/10.15388/ekon.2013.0.1625.
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Abstract. An analysis of the divergence of economic development paths of Eastern European countries (Poland, Hungary, Latvia, Lithuania, Czech Republic, Slovakia, Slovenia) that joined the EU in 2004 and of the European post-Soviet states (Ukraine, Russia, Belarus, Moldova) for the past twenty years with an emphasis on trade and financial openness is carried out in the article. A detailed description of institutional mechanisms and institutional changes in the economies of these two groups of countries is presented. In my opinion, in order to ensure a sustainable economic development and sustainable economic growth, the macroeconomic equilibrium has to be supplemented by the institutional equilibrium. The equilibrium criteria have to match the actual functions of the institutions, assigned to them by society, and contribute to the development of the whole society along with formation of the middle class.Key words: economic development, economic growth, institutional change, transition economy, Central and Eastern Europe
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Witkowska, Janina. "Foreign Direct Investment In The Banking Sector In New EU Member States: Social Responsibility Of Banks." Comparative Economic Research. Central and Eastern Europe 16, no. 4 (February 13, 2014): 7–21. http://dx.doi.org/10.2478/cer-2013-0025.
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This paper discusses the performance and strategies of banks with foreign participation in the new EU Member States and their attitudes towards socalled ‘socially responsible finance’. The banking sector in the analyzed countries (Czech Republic, Poland and Slovakia) is dominated by foreign capital. The global financial crisis caused a decrease in new annual FDI inflows into the financial intermediation and banking sector of these countries. Some disinvestment occurred in Slovakia and Poland. The foreign-owned banks already operating in the analyzed countries undertook some organizational and financial adjustments to the global economic crisis that allowed them to secure their own position in recipient countries. They are involved in socially responsible activities in the field of culture, sport, environmental protection etc. As trust-based financial institutions. they also showed a kind of responsibility in the field of finance when the crisis occurred.
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Vojtěch, Jakub. "Islamic Banking: Regulatory Background from the Czech Perspective." International and Comparative Law Review 15, no. 2 (December 1, 2015): 123–34. http://dx.doi.org/10.1515/iclr-2016-0039.
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Abstract The term “Islamic banking” denotes the banking services in compliance with Islamic law and is nowadays a rapidly expanding, global industry based on a traditional fourteen centuries old legal system. The European market is witnessing growing Shari’acompliant assets especially in the last few years and even non-Muslim countries have been trying to find legal solutions to accomodate Islamic financial institutions. This new academic and business field is raising important issues that merit discussion and this text serves as a contribution to the debate. In the paper I am trying to depict the key and distinguishing features of the Islamic banking model and reflect its law regulation from the point of view of the Czech legislation in the light of the continuing growth and expansion of Islamic banking and finance. The main objective of this article is to find out whether the legal framework of the Czech Republic covers the practice of Islamic finance and also to consider and identify potential legal obstacles.
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Civelek, Mehmet, Aleksandr Ključnikov, Peter Krištofík, and Zoltán Rozsa. "BARRIERS IN FINANCING MICROENTERPRISES FROM THE PERSPECTIVE OF CZECH AND SLOVAK MICROENTREPRENEURS." Journal of Business Economics and Management 20, no. 2 (March 7, 2019): 244–67. http://dx.doi.org/10.3846/jbem.2019.8114.
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This paper compares how Czech and Slovak microentrepreneurs perceive the volume and ease of access to finance that they face. Having an adequate number of sources of finance and easier access to them can help improve both enterprise and country performance. Chi-square and Z score tests for population proportions were used to test hypotheses. 740 microenterprises from Czech Republic and 287 microenterprises from Slovakia were included for the analyses that were performed by this study. The results show that Czech microentrepreneurs feel they have more sources of finance and have easier access to them than their Slovak counterparts. These differences may in part be linked to other factors such as the experience and age of microentrepreneurs and micro-firms, amount of business loans and microfinancing organizations, credit interest rates and credit rejection rates, the relative degree of economic freedom, the volume of government guarantees, relative GDP levels, the quality of business environment and ease of doing business. Additionally, The Moran’s I spatial autocorrelation index was performed to evaluate influence of location on the perception of Czech and Slovak microenterprises that were located in different regions of both countries. The paper also discusses the results’ policy implications for governments and financial institutions.
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Mazurchenko, Anastasiia, Martin Zelenka, and Kateřina Maršíková. "DEMAND FOR EMPLOYEES’ DIGITAL SKILLS IN THE CONTEXT OF BANKING 4.0." E+M Ekonomie a Management 25, no. 2 (June 2022): 41–58. http://dx.doi.org/10.15240/tul/001/2022-2-003.
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Digitalisation and technical development in the financial service sector have aimed to secure, increase the quality, and satisfy the interests of both customers and financial institutions in the current turbulent era. Together with this situation, there is a need to develop digital employees’ competencies in the financial sector. This paper aims to analyse the topical issue of digitalisation and demand for employees’ digital skills in connection with the COVID-19 pandemic situation based on global secondary data and primary data collected by the authors in the Czech Republic. The main research objective of the paper is to provide a theoretical framework for digitalisation and its drivers in the financial sector, introduce the phenomenon of Banking 4.0 concerning the required competencies, and identify gaps and barriers for faster and more effective development based on the literature review and selected primary and secondary and data analysis. Descriptive statistics and Spearman’s rank correlation coefficient have been used to fulfil this goal. A semi-structured in-depth interview with three human resources (HR) specialists of a selected Czech bank also has been conducted. The paper brings an overview of the latest research studies in the field of digital competencies in general and specifically in the financial sector. Although the primary data is limited in scope (i.e. ten middle-sized and large financial and insurance companies), it provides a unique view of the situation with digitalisation in financial institutions. It shows current developments, trends and barriers within the example of a bank case study. The paper is motivated by the current situation in the banking sector in connection with digitalisation. It aims to emphasise the growing influence of digital technologies on employees, managers and companies, and the importance of systematically implementing digital skills development approaches on the companies’ strategic level.
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Virglerova, Zuzana, Jan Dvorsky, Ludmila Kozubikova, and Martin Cepel. "Perception of non-financial risk determinants in SMEs in Visegrad countries." Oeconomia Copernicana 11, no. 3 (September 17, 2020): 509–29. http://dx.doi.org/10.24136/oc.2020.021.
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Research background: The identification of risks and their management is a key task of strategic management. The right and early identification of risk sources can help companies to survive not only during a crisis period. However, small and medium enterprises (SMEs) underestimate the necessity to analyze risks and implement the enterprise risk management (ERM).
Purpose of the article: The primary aim of the contribution is to identify the most important non-financial risks and their causes in the V4 countries and to analyze the perception of these risks by SME owners.
Methods: The results are based on the survey conducted in 2018. The valid questionnaire of 1781 owners of SMEs from four countries was evaluated and analyzed to fulfil the main objective. The statistical hypotheses were con-firmed through statistical methods such as Z-score and Chi-square test. The SPSS Statistics was used for data evaluation.
Findings & Value added: The results can be interesting not only for research organizations investigating the development of SMEs, but also for state institutions or private agencies seeking to adapt national support for SMEs. It was discovered that the entrepreneur’s country is the most important factor for the perception of the sources of safety risk, legal risk, and other business risks. There are differences in managers’ perception in case of other risk sources (corruption and clientelism) between entrepreneurs from the Czech Republic and other countries of the Visegrad Group. The SMEs’ country of origin is an important factor for the evaluation of the source of non-financial risks (safety risk, legal risk and other business risks). Differences in the perception of safe-ty risk sources between entrepreneurs from the Czech Republic and Poland were confirmed. More than 25% of SMEs in the Visegrad Group perceive frequent changes of the legal regulation as a legal risk.
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Přečková, Lenka, and Eva Vávrová. "The Level of Integration of Bancassurance Products of Financial Groups Erste Group Bank, UniCredit Group and KBC Group in Selected Countries." Financial Assets and Investing 8, no. 2 (November 30, 2017): 49–60. http://dx.doi.org/10.5817/fai2017-2-4.
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This paper will evaluate the current state of cooperation between banks and insurance companies as well as internal integration of bancassurance products in financial groups Erste Group Bank, UniCredit Group and KBC Group. The evaluation is performed as of September, 2016. There shall be selected ten countries which are located in Central and Eastern Europe: Czech Republic, Slovak Republic, Poland, Hungary, Romania, Bulgaria, Croatia, Bosnia and Hercegovina, Slovenia and Serbia. The aim of this paper is to determine whether or not there is a similarity in integrated financial products belonging to different financial groups in individual countries. This paper will apply a qualitative research approach. A theoretical base for evaluating the level of cooperation between banks and insurance companies and for evaluation of an internal integration of bancassurance products will be set in the paper. The theoretical base is to be compared with the current bancassurance practice within financial groups and countries. To evaluate bancassurance practice, this paper shall use data available on web sites, financial and annual reports of financial institutions. The qualitative research is to contain a detailed analysis, sorting and comparison of set theoretical bases. The financial groups show differentness as far as integration is concerned. The research led to the conclusion that there is a similarity in bancassurance products which are offered in evaluated countries. A dissimilarity was found in the level of integration of bancassurance products.
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Rajchlová, Jaroslava, Michaela Baranyková, Michal Polák, and Zdeněk Brož. "Proposing changes in legislative and institutional conditions for private equity and venture capital financing in the Czech Republic – a comparative study with Poland." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 59, no. 7 (2011): 317–24. http://dx.doi.org/10.11118/actaun201159070317.
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This paper discusses the conditions of private equity and venture capital financing in the Czech Republic and Poland. Especially the related legislation, taxes and support of this type of financing are discussed in detail. The purpose of this research is to evaluate the conditions, to find factors that have positive influence and to formulate recommendations that would improve the conditions for both PE/VC investors and firms with new business ideas. Improving the conditions for PE/VC financing helps small businesses get the needed capital that cannot be obtained from banks and other institutions. This form of financing has a proven positive effect on whole economy. Identifying and removing obstacles is therefore important and helps the government to promote economic growth. This form of financing is used frequently in other European countries. In the central and eastern Europe it is not used as frequently but the situation is improving according to (Zinecker & Rajchlová, 2010). According to the study made by EVCA an array of legislative shortcoming were identified in the Czech Republic. Poland and Hungary have better conditions for PE/VC financing. According to EVCA studies made in 2004 and 2006 Poland shows that the conditions improve each year. Therefore Poland was chosen in this research for a comparative study with the Czech Republic.
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Otavová, Milena, and Jana Gláserová. "Applying the prudence principle in non-profit organizations and financial institutions." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 59, no. 4 (2011): 187–94. http://dx.doi.org/10.11118/actaun201159040187.
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The paper describes in detail the accounting principle of prudence in non-profit organizations and financial institutions. It defines its application in such organizations and based on comparison it evaluates the practical use of the prudence principle and its reflection in the accounting books. The main focus is on differences in applying the prudence principle that result from differences in the purpose activities and methods of asset management in these organizations. The practical application of the prudence principle in accounting consists mainly in the creation and use of provisions and impairments. These methods are defined by the Implementing Regulation to the Accounting Act No. 563/1991. The paper also provides tables where the creation and use of impairments and provisions in the above-mentioned organizations is compared with how business companies proceed in creating impairments and provisions. The key legislation standardizing accounting in the Czech Republic is the Accounting Act No. 563/1991, as amended, which stipulates the general accounting principles, the so-called accounting philosophy. The accounting is built around the general accounting principles, which are perceived as the pillars of accounting. Even though they are not stipulated in any particular law, they are legally enforceable and their ignorance can be sanctioned. The general accounting principles represent a set of rules to be observed in keeping the accounting books, preparing the accounting reports and submitting the accounting reports to users. The keystone accounting principle is the principle of true and fair refl ection of facts the essential goal of which is to report in the fi nancial statement actual assets and the fi nancial position of the accounting unit with an essential focus on reporting events that occurred during the accounting period with respect to their content.
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Dvorský, Ján, Martin Čepel, Anna Kotásková, and Katarína Bugánová. "DIFFERENCES IN BUSINESS RISK EFFECTS ON THE FUTURE OF SMEs DUE TO THE COVID-19 PANDEMIC." International Journal of Entrepreneurial Knowledge 9, no. 2 (December 22, 2021): 14–31. http://dx.doi.org/10.37335/ijek.v9i2.144.
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The article aims to identify, analyze, and quantify disparities in the impact of entrepreneurial risks on the future of small and medium-sized enterprises in the business environment of the Czech Republic in light of the COVID-19 pandemic. The research was carried out on 814 SMEs in two phases. 454 SMEs participated in the first phase of the research, which took part before the COVID-19 pandemic. 360 SMEs took part in the second research phase during the pandemic. Statistical methods such as correlation analysis and linear regression modeling were applied to evaluate statistical hypotheses. The results yielded interesting findings. According to respondents, the three most significant business risks in the SME segment include market, financial, and personnel risk in the period before the COVID-19 pandemic and during the COVID-19 pandemic. Prior to the COVID-19 pandemic, entrepreneurs saw the adequacy of sales and financial performance of the business as key determinants that impact the future of SMEs over a 5-year horizon. Conversely, during the COVID-19 pandemic, entrepreneurs perceived the management of the company's personnel performance, financial performance, and ability to manage financial risk as determinants that affect the future of SMEs over five years. According to owners and top managers during the COVID-19 pandemic, the most significant factor is the adequacy of personnel risk in SMEs.On the one hand, the findings benefit the owners themselves and the top managers of SMEs. On the other hand, government institutions and organizations that decide on government measures promote a penetrating environment. Also, the non-profit sector (e.g. Association of Small and Medium-Sized Enterprises and Crafts of the Czech Republic) assists SMEs in their edible activities and activities.
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Přečková, Lenka. "Evaluation of Bancassurance Functioning in Selected Countries of the Financial Groups Erste Group Bank and UniCredit Group." Financial Assets and Investing 7, no. 2 (July 31, 2016): 19–33. http://dx.doi.org/10.5817/fai2016-2-2.
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This paper will evaluate the current state of cooperation between banks and insurance companies as well as internal integration of bancassurance products in financial groups Erste Group Bank and UniCredit Group. The evaluation is performed as of May 1, 2016. There shall be selected six countries which are part of the region Central and Eastern Europe, namely the Czech Republic, the Slovak Republic, Hungary, Romania, Croatia and Serbia. This paper aims at ascertaining whether or not there are similarities in how bancassurance functions in selected financial groups and countries. This paper shall apply a qualitative research approach. Bancassurance shall be analyzed, compared and evaluated from the viewpoint of integration of financial groups as well as of bancassurance products. A critical analysis of literature available will frame the field of bancassurance models of cooperation and bancassurance functioning. This review will provide a theoretical base for evaluating the level of cooperation between banks and insurance companies and for evaluation an internal integration of bancassurance products. The theoretical base shall be compared with the current bancassurance practice within financial groups and countries. To evaluate bancassurance practice, this paper shall use data available on web sites, financial and annual reports of financial institutions. The qualitative research shall contain a detailed analysis, sorting and comparing of set theoretical bases. Finally, this paper shall ascertain which characteristics are similar and which are different in integration of financial groups and bancassurance products.
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Kubálek, Jan, Dagmar Čámská, and Jiří Strouhal. "Personal Bankruptcies from Macroeconomic Perspective." International Journal of Entrepreneurial Knowledge 5, no. 2 (December 1, 2017): 78–88. http://dx.doi.org/10.1515/ijek-2017-0013.
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Abstract Personal bankruptcies are traditionally discussed from legal, microeconomic or social point of view. This paper focuses on the development of personal bankruptcies in the Czech Republic during the time period 2008-2016 and aims to connect performance of economy and the development of personal bankruptcies. As statistical tools there are used descriptive statistics and regression and correlation analysis. For the economy performance are used the measures of GDP, unemployment rate, household indebtedness and share of debts in default. Based on the results of the analysis there shall be said that lower economic performance influences increasing number of personal bankruptcies. This conclusion has significant consequences for the government and its politics, banks and other financial institutions.
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Petrochko, Zhanna, and Olena Denysiuk. "EDUCATION AND SUPPORT FOR BIOLOGICAL FAMILIES WITH CHILDREN: MODERN EXPERIENCE OF THE CZECH REPUBLIC AND UKRAINE." Scientific Journal of Khortytsia National Academy, no. 2022-6 (June 29, 2022): 131–41. http://dx.doi.org/10.51706/2707-3076-2022-6-16.
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The scientific article emphasizes the importance of teaching and supporting biological families with children to ensure the well-being of the child and the family. A description of the best experiences and innovations of learning and parental capacity building in the Czech Republic and Ukraine is provided. Various special training programs in the Czech Republic aimed at supporting vulnerable families with children are described, and the project activities of the family and community center in Ostrava are highlighted. It was found that the education of families with children, their support is aimed at strengthening family values and intergenerational relationships, strengthening parental role in society, promoting legal protection of the family, motherhood and equal opportunities for all, promoting a healthy lifestyle of each family member in a healthy environment, ensuring harmony between work and family life, supporting modern multicultural environment, encouraging participation in public events for families in the region and the whole the country. The essence and peculiarities of the introduction of the social service "School of Parental Competence" in Ukraine have been revealed. Emphasis is placed on the importance of using an interdisciplinary approach for this. The authors describe the purpose, tasks and features of the implementation of the social service "School of Parental Competence" as well as the main directions of its provision (training sessions for parents and creating a self-help group; therapeutic and developmental classes for children; individual consultations for parents). The stages of preparation of specialists for the implementation of such a service (educational, practical) are determined. The article uses materials developed within the project commissioned by the Ministry of Social Policy of Ukraine and financial support of the World Bank "Reforming Institutions of Institutional Care and Upbringing of Children in Ternopil Region", 2020-2021, as well as materials collected during the scientific and pedagogical internship in the Czech Republic in 2022 under the Erasmus + academic mobility program.
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Soldak, M. O. "Financial Support of Old Industrial Territories` Revitalization: the Experience of the UK, the Czech Republic and Turkey." Management of Economy: Theory and Practice. Chumachenko’s Annals, no. 2021 (December 23, 2021): 250–63. http://dx.doi.org/10.37405/2221-1187.2021.250-263.
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Old industrial territories face economic, social and environmental problems emerging from the loss of traditional industries` markets, unprofitability and discontinuation of production activities, the occurrence of abandoned territories of former industrial use as a result of de-industrialization and reform of property rights. The governments of countries respond differently to these challenges depending on the institutions created at the supranational, state and regional levels, the amount of funds they have to overcome the economic, social and environmental insecurity of the inhabitants of such territories. In the article the world experience of financial support for the sustainable development of old industrial territories is generalized and recommendations regarding the possibilities of their use for the revitalization of such regions in Ukraine are substantiated. Three countries were chosen as objects of study: the UK, the Czech Republic and Turkey. The recommendations substantiated for Ukraine relate to the definition of project priority criteria based on the assessment of the level of development of territories according to a weighted index of several indicators, the set of which can be adapted to specific national conditions, but should reflect all components of sustainable development; using the possibilities of European integration in the field of innovation, science and education to form a modern policy for the revitalization of old industrial regions; using the State Regional Development Fund for the implementation of projects for the revitalization of old industrial territories; active involvement of regional development agencies in solving problematic issues of revitalization of abandoned territories of former industrial use. Keywords old industrial territories, industry, regions, revitalization, European integration.
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Kučera, Zdeněk, and Tomáš Vondrák. "The patent activity of the Czech R&D organizations and its international comparison." ERGO 11, no. 2 (December 1, 2016): 3–13. http://dx.doi.org/10.1515/ergo-2016-0003.
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Abstract An effective knowledge transfer between research institutions and industry is a significant bottleneck in the national innovation system. CR adopted in recent years a series of systemic measures aimed to stimulate the orientation of the R&D organizations towards the generation of knowledge directly applicable in the innovation process and more generally to improve the collaboration of the R&D establishment with the industry. In the majority of programs supporting the applied research patents and industrial designs and utility models are among the anticipated results. The Methodology of the evaluation of R&D organizations implemented in the second half of the last decade brought financial bonuses for the creation of the results in the category of industrial property. Despite of this stimulus CR lags behind the technologically advanced EU countries in the patent activities. The topic of this article is a comparison of the protection of the industrial property rights in the Czech higher education institutions and governmental R&D institutions with selected EU countries. We make use of a couple of quantitative indicators to assess the quality and the technological and the commercial potential of the produced industrial property. Despite a dynamic growth of the patent applications in the CR the number of patent applications relative to the country size is far below the EU-15 average. The Czech research organizations contribute to a higher extent to the number of patent applications then do the analogous institutions in EU-15 countries where the majority of patent applications come from the industrial sphere. The Czech research organizations mainly limit the patent rights to the Czech Republic whereas in the EU-15 countries the opposite is preponderant and only a small fraction of patent applications remains limited to the national environment. Thus the majority of the Czech patents created by research organizations cannot be commercialized on the international scene nor can contribute to the international competitiveness of the Czech industry. The patent applications submitted by the Czech research organizations are significantly less cited. This indicates that the protected intellectual property is of lesser importance. The Methodology of the evaluation of research organizations which was implemented in the second half of the last decade has visibly stimulated the patent activities of the research organizations but simultaneously an absence of any assessment of a future commercialization promoted a production of intellectual property of a limited commercial usability.
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Malinowska, A. P. "The state of the state – Economic property rights and firm profitability versus corruption. New evidence from the Czech Republic." Acta Oeconomica 71, no. 1 (March 30, 2021): 117–36. http://dx.doi.org/10.1556/032.2021.00006.
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AbstractDespite significant advances in economic literature on the relationship between graft and economic growth, the consensus in nowhere in sight. The current paper enriches the extant literature on the subject by: 1) extending econometric techniques in an attempt to quantify and model institutional development; and 2) providing novel results on the dynamics between non-standardised and standardised institutional metrics. Utilising a new dataset compiled for 423 publicly quoted Czech, non-financial companies with macroeconomic and institutional metrics, we fashion a dynamic model approximating the interactions between the country's institutional development and firm profits as well as examining the relationship between the Czech corruption and the national institutional framework in the years of 2007–2016. The economic property rights appear to contribute to firm accounting profits- and cash flow-based profitability metrics. As regards the anti-corruption policies, the study's outcomes indicate that improvement in economic property rights could have propelled the positive impact of lax anti-corruption government action and inefficient judiciary on firm profits.
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Palát, Milan. "Analysis of labour market in the Czech Republic with respect to unemployment considering other countries of EU." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 57, no. 6 (2009): 189–200. http://dx.doi.org/10.11118/actaun200957060189.
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The paper deals with the analysis of labour market in the Czech Republic with respect to unemployment considering other countries of EU and existing economic development. Evaluation has been carried out of the specific development of labour market, employment and unemployment in the Czech Republic in the period 1993–2008, incl. possible causes and trends of the development and international comparison of selected characteristics of labour market using adequate quantitative methods. Analysis of the Czech labour market during the period of its existence includes the evaluation of supply and demand in the labour market. The most important causes were monitored of changes in the supply in the labour market affected by the demographic development and social environment and substantial causes of changes in the demand in the labour market, which were affected by the performance of the given economics, by the growth of labour productivity and the number of available jobs. This is followed by assessing the development of unemployment in the Czech Republic and European Union. Substantial aspects were identified of the development of labour market and unemployment in the Czech Republic and EU as a whole and trends of the future development were indicated in the studied area. The international comparison of selected characteristics of labour market in the member countries of EU carried out by means of quantitative methods allowed to assess high differences among unemployment rates in this community and created another information source regarding the position of the Czech Republic in the European Union during the selected reference period. Significant differences in unemployment between all member countries point out to marked structural or institutional differences in labour markets in particular countries. Only a negligible percentage out of the total economically active population in the European Union migrates over the border of its member countries. This situation only augments a durable long-term unemployment growth in particular countries. Beside the insufficient labour force movement throughout Europe a next important problem in structural unemployment presents e.g., the incongruity in qualifications between supply and demand on the labour market. The current financial and economic crisis has cut at all previous positive unemployment development during a few months.
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Wysocki, Maciej. "Institutional Complementarity of Poland in Terms of Diversity of Capitalism." Ekonomia Międzynarodowa, no. 14 (June 30, 2016): 133–57. http://dx.doi.org/10.18778/2082-4440.14.03.
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Poland is one of the most significant examples of a transition country in Central and Eastern Europe. After 45 years of being a centrally planned economy Poland emerged at the end of the 1980’s a free-market economy. In 2004 Poland became a member of the European Union, which was another milestone in the transition process. Undoubtedly, institutions were a very important factor in Poland’s economic transition. It seems that the horizon of 25 years since the fall of communism has created a decent prospect to evaluate the balance of economic transition in terms of the quality of institutions. However, comparative studies do not analyse institutions separately, but consider them together in an institutional framework.The purpose of this essay is to examine the scope of the institutional complementarity of Poland in terms of Diversity of Capitalism. The main thesis of the article is that after more than two decades since the first stage of the economic transition, and one decade after joining the European Union, Poland’s institutional complementarity is, in general, at a satisfactory level. However, there is a very low level of institutional complementarity in the case of interaction between the labour market and the financial system. Furthermore, the Polish model of capitalism seems to be quite different from other countries from the peer group of transition economies (for example the Czech Republic or Hungary). The research method which was used in this essay includes statistical methods (in particular the K-Nearest Neighbours Method, K-Mean Method and Principal Component Analysis).
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Čejková, Tereza. "Financial Transaction Tax." Financial Law Review, no. 24 (4) (October 28, 2021): 55–68. http://dx.doi.org/10.4467/22996834flr.21.032.15399.
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This paper deals with the financial transaction tax in the European Union. While it is currently a matter of enhanced cooperation between several Member States regulated only at the national level, it is considered to be a potentially good source of the EU’s own resources. The negotiations about its implementation on the EU recently begun again as there is need to search for funds for the economic recovery after the coronavirus pandemic. The author works with the hypothesis that if the taxation of financial transactions and the financial sector as such is beneficial, harmonization within the free market of the European Union is necessary. From scientific methods, it will mainly use the analysis of proposals for a new system of taxation of financial transactions to confirm or refute it. In order to be able to put the issue into a suitable context, the method of interpretation will also be used, especially in the first chapter dealing with the issue of sectoral taxation. With regard to the problematic nature of the examined type of tax, a comparison will be made in several parts - while examining the current state and possible developments in the future. The professional literature does not yet deal with this topic, so it will be used rather in support of other sources, such as legislative documents of national and community institutions, and press releases. In addition to processing the above hypothesis by the proposed methods, the aim of this work is also to provide an overview of the current state of affairs both at the level of the European Union and within the Czech Republic. Sectoral taxation is by its nature a political issue, so there is room for controversy about its suitability, effectiveness, and impact on society.
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Bužgová, Radka, and Kateřina Ivanová. "Elder Abuse and Mistreatment in Residential Settings." Nursing Ethics 16, no. 1 (January 2009): 110–26. http://dx.doi.org/10.1177/0969733008097996.
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Older people living in a residential setting have the right to respectful care based on professional ethics. The aim of this study was to describe employees' and clients' lived experiences of elder abuse. A qualitative phenomenological method was used with 26 employees and 20 residents from four homes for elderly people in the town of Ostrava, Czech Republic, and two managers from outside these institutions. All complaints about elder abuse ( n 5 11) received by Ostrava Municipal Authority during the period 2003 to 2007 were examined. Two main dimensions of the examined phenomenon were identified: forms of elder abuse and causes of elder abuse. Established forms of elder abuse were summarized as rights violation, financial abuse, psychological abuse, physical abuse and neglect. Causes of elder abuse included institution, employee and client characteristics. It is necessary in residential settings to create preventive policies that will focus on supervision regarding elderly people's rights violation and psychological and physical abuse, as well as on building organizational cultures that will respect ethical principles.
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Okhabska, Iryna, Vira Budzyn, Ivan Rybchych, Ivan Zyma, and Yurii Kalichak. "Management of medical institutions on context of provision medical and preventive care in COVID-19 condition." International journal of health sciences 6, no. 1 (February 20, 2022): 347–56. http://dx.doi.org/10.53730/ijhs.v6n1.4381.
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The aim of the study management of medical institutions in the context of providing medical and preventive care in conditions of COVID-19 is an urgent research problem because it provides detection of management’s effective mechanism in times of crisis. It was to identify the management’s peculiarities of medical institutions in the context of providing medical and preventive care in conditions of COVID-19. The article uses a qualitative content analysis method, a method of comparison, and a method of analysis of countries’ cases in the context of rendering medical and preventive care in Ukraine, Spain, Italy, Germany, and the Czech Republic. The article identifies the main elements of the health system management mechanism during the pandemic, which includes coordinated work by stakeholders to ensure a coordinated response to the emergency. The mechanism includes the organizational, legal, and financial components of cooperation between agencies and ministries of national, regional level, involvement international organizations in the process of development of policy and tactics, management crisis’ strategies. Strategic documents of the national level are one of the main elements of the management’s system.
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Radocha, Jakub, Ludek Pour, Ivan Spicka, Vlastimil Scudla, Evzen Gregora, Hana Frankova, Roman Hajek, et al. "Registry of Monoclonal Gammopathies (RMG) in the Czech Republic." Blood 126, no. 23 (December 3, 2015): 4514. http://dx.doi.org/10.1182/blood.v126.23.4514.4514.
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Abstract Introduction: Collection of valid data in patients with hematologic malignancies remains a challenge. Especially low grade malignancies require long term follow-up and valid high quality data. The RMG registry was established in 2007 and has become one of the flagship projects of the Czech Myeloma group. To date, four parts of the registry are active - module for multiple myeloma (MM), monoclonal gammopathies of undetermined significance (MGUS), AL amyloidosis (ALA) and Waldeströms macroglobulinemia. The later two has been started in 2014. Aim: To analyze current status of the registry in terms of amount of contained data. Methods: All patients must sign a written consent before entering their data into the registry. Data concerning diagnosis, demography, treatment and survival are regularly collected and updated into the registry via online system at https://trials.cba.muni.cz/trialdb2/interface_forms/login_rmg.asp. The data from MGUS patients are retrospective and prospective, data from MM patients are only prospective (since 2007). Registry is regularly monitored and data are validated by an external monitor. Results: There are 22 participating centers as of July 2015 (18 from the Czech Republic and 4 from Slovakia). Data from 4549 patients with MM, 2168 with MGUS, 121 patients with WM and 22 with ALA have been collected. Together 6860 patients have been included in the registry as of July 2015. Median follow-up of MGUS patients is 4 years (0-35 years) and median follow-up for MM patients is 2 years (0-32 years). The huge amount of data allowed publication of treatment results of MM patients treated with bortezomid and thalidomide in the Czech Republic and regular analysis of patients treated with lenalidomide. Novel prognostic models for MGUS progression and asymptomatic myeloma have been created based on registry data (manuscripts submitted). Conclusion: The RMG is one of the largest registries in Europe. Its biggest advantage is collection of validated updated data which can be used to create rapid analyses in order to react to changing myeloma field. It helps us to create new guidelines and serves as a potent research tool. It can be also used to negotiate reimbursement with healthcare insurance companies and government regulatory authorities for novel drugs implementation into treatment standards. Supported by The Ministry of Education, Youth and Sports (Specific university research of the Faculty of Medicine, University of Ostrava) project no. SGS01/LF/2014-2015, by the Moravian-Silesian Region - grant no. MSK 02692/2014/RRC, by the Institutional Development Plan of University of Ostrava in 2015, financial resources are allocated by The Ministry of Education, Youth and Sports. Supported by grant NT14575. Disclosures Hajek: Amgen: Honoraria; Celgene: Consultancy; Janssen: Consultancy.
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Lament, Marzanna, and Blanka Jarolímová. "Foreign capital as a determinant of the non-financial reporting development in insurance companies of the Visegrad Group countries." Investment Management and Financial Innovations 18, no. 1 (February 18, 2021): 203–14. http://dx.doi.org/10.21511/imfi.18(1).2021.17.
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Insurance companies are institutions of public trust, and this affects their corporate culture, strategies and management systems. One of the image concerns is reporting on socially responsible actions in non-financial reports. The prime objective of the research presented in this paper is to analyze the dependence between the level of non-financial reporting in the insurance market and the share of foreign capital, measured based on the market size of foreign insurance companies compared to all insurance companies, and the share of foreign insurance companies in non-financial reporting. The study concerned insurance markets in the Czech Republic, Hungary, Poland and Slovakia, and the overall market of the Visegrad Group countries. The theoretical section provides a review of the literature and applicable legislation to indicate the causes of non-financial reporting by insurance companies. Next, the correlation was used to determine the relationship between the variables studied, the regression method was applied to determine the impact of the variables studied, in particular foreign capital, on the level of non-financial reporting. A model was constructed, and the results of its estimation were analyzed. Analysis of the data demonstrated that the greater the share of foreign capital, the higher the level of non-financial reporting. The study results indicate that the share of foreign insurance companies can become a determinant in the development of non-financial reporting.
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Civelek, Mehmet, Aleksandr Ključnikov, Gentjan Çera, Jiří Mezuláník, and Radim Maňák. "Differences in Entrepreneurial Orientation (EO) of SMEs in the International Context: Evidence from the Czech Republic and Turkey." Engineering Economics 31, no. 3 (June 29, 2020): 345–57. http://dx.doi.org/10.5755/j01.ee.31.3.23933.
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Although SMEs make significant contributions to socio-economic conditions of countries, they face many financial, organizational and mercantile obstacles in their operations. In this regard, having more innovative, risk-taking and proactive activities (EO) increases SMEs’ performance, financial conditions and help them to survive in the long term. Therefore, finding regional, national and international differences in EO of SMEs can enable policymakers, financing institutions, SMEs, and entrepreneurs to create more opportunities for SMEs to overcome those problems. In this regard, this research seeks to explore the differences between entrepreneurial orientation (EO) of SMEs that operate in different regions of countries with various cultural values, income levels, economic, political and legal risks. Moreover, age and size of firms are also considered to find differences among SMEs in national and international contexts. In line with these objectives, the current study examines two different countries that have cultural differences and have different economic, legal and political risks. To achieve the objectives, 1620 Czech and Turkish SMEs were analyzed by performing the Mann-Whitney U and Moran’s I spatial autocorrelation tests. According to the results of Moran’s I autocorrelation test, this research does not find any differences between the low and high-income regions of the selected countries regarding EO of SMEs. Experience and age of the respondents might be the reason for these results. Significant results in the national context are that EO of SMEs does not differ across the age categories, while there are differences between firm size and their EO. In the international context, the main findings are that Czech SMEs are more proactive than Turkish ones in all age and size categories, while Turkish SMEs are more innovative in all age categories and only in small size segment. However, this research has not revealed any differences within the risk-taking behaviour of SMEs from different countries considering their size and age. The significant differences and similarities in EO of SMEs from different countries might stem from the educational status of the respondents, a considerable number of operating firms in a market, agility, flexibility, R&D activities and sector of firms. Financial, educational, administrative and legislative support needs to be given by policymakers to close the gap between EO of SMEs of different age, size, regions and countries.
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Plíhal, Tomáš, Martina Sponerová, and Miroslav Sponer. "Comparative Analysis of Credit Risk Models in Relation to SME Segment." Financial Assets and Investing 9, no. 1 (May 31, 2018): 35–50. http://dx.doi.org/10.5817/fai2018-1-3.
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The importance of credit risk management is well known and was deeply investigated by the banking industry. There is a pressure on financial institutions to still improve their credit risk management systems, so the credit risk of a bank is an unflagging object of discussion. The aim of this article to compare the predicting abilities of several bankruptcy models to the SME segment in the Czech Republic and its subsegments - medium sized, small and micro enterprises. We have focused on small and medium sized enterprises (SMEs) considering their fundamental role played in the Czech economy and the considerable attention placed on SMEs. We have chosen popular bankruptcy models that are often applied, namely the Altman Z-score, Altman model developed especially for SMEs in 2007, the Ohlson O-score, the Zmijewski’s model, the Taffler’s model, and the IN05 model. The basic form of the models was used as proposed by their authors. The results were compared using the contingency table and ROC curve. We have found that the best prediction models are Zmijewski´s and Ohlson´s models which use probit and logit methodologies and according to our analysis, their prediction ability is better than that of models based on discriminant analysis. Surprisingly, model IN05 designed for Czech companies provides average results only. One of the worst performing models is Altman 2007, which was created specifically for SMEs, but according to our analysis it only provides subordinates results.