Acta academica karviniensia, 2015 (vol. 15), issue 1
WHAT IMPACT DO SINGLE TAXES HAVE ON THE CONVERGENCE OF TAXATION IN THE EU?
Monika Bušovská
Acta academica karviniensia 2015, 15(1):5-18 | DOI: 10.25142/aak.2015.001 
Increasing globalization and the European Union enlargement have an influence not only on human culture or politics but mainly on the economies of the countries in which integration is at different levels of their development. This paper deals with the convergence of taxation in the European Union. The paper proposes to evaluate and quantify the impact of the single shares of the taxes and tax competition on the effective tax burden convergence in the EU 28 countries between the years 1965 - 2011. The panel regression model reports a statistically significant positive impact of all residuum on tax convergence in the European Union. The most important...
COMPARISON OF BANKING SYSTEMS AND CENTRAL BANKS IN THE CZECH REPUBLIC AND THE UNITED KINGDOM
Liběna Černohorská
Acta academica karviniensia 2015, 15(1):19-31 | DOI: 10.25142/aak.2015.002
The aim of this paper is to make a comparison of the banking sector in the Czech Republic and United Kingdom. Selected banking sectors are compared according to independence of their central bank, the regulation and supervision of financial markets in these countries, the type of banking, financial institutions, inflation targeting, interest rates and capital adequacy. The banking sector in the Czech Republic and the United Kingdom are part of the European financial market. Yet they show differences that are caused by the historical development and the different position of central banks and their policy during financial crises. Comparison of banking...
LIQUIDITY RISK MANAGEMENT OF BANKS BELONGING TO ERSTE GROUP AND SOCIETE GENERALE GROUP
Tomáš Gongol, Pavla Klepková Vodová
Acta academica karviniensia 2015, 15(1):32-43 | DOI: 10.25142/aak.2015.003
The aim of this paper was to compare the strategy of liquidity risk management of banks belonging to Erste Group and Societe Generale Group in the region of Central and Eastern Europe. We have used three liquidity ratios and compared values of these ratios of subsidiary banks, parent banks and corresponding banking sectors. The results confirmed that each bank has own strategy which combines defensive and offensive approaches to liquidity. In terms of sources of funding, subsidiaries are much safer than both parents bank. Concerning the buffer of liquid assets, Societe Generale as a parent bank is much more liquid than its subsidiaries and also than...
PUBLIC CONTRACTS AND FAIR TRADE
Martina Hrůzová
Acta academica karviniensia 2015, 15(1):44-58 | DOI: 10.25142/aak.2015.004
This article analyzes the opportunities to include the principles of fair trade to announce public procurement. To announce public procurement can be also incorporated social (socially responsible) criteria. The first part of the paper is devoted to the characteristics and principles of fair trade and the second part is devoted to the analysis of socially responsible procurement and practical demonstration of how to add the Fair Trade criteria into public procurement.
THE APPLICATION OF SOVEREIGN BOND SPREADS: THE CASE OF SELECTED EU COUNTRIES AND THE USA
Jana Hvozdenská
Acta academica karviniensia 2015, 15(1):59-69 | DOI: 10.25142/aak.2015.005
The yield curve - specifically the spread between long term and short term interest rates is a valuable forecasting tool. It is simple to use and significantly outperform other financial and macroeconomic indicators in predicting recessions two to six quarters ahead. The steepness of the yield curve should be an excellent indicator of a possible future economic activity. A rise in the short rate tends to flatten the yield curve as well as to slow down real growth the near term. This paper aims to analyze the dependence between slope of the yield curve and an economic activity of selected EU countries and the USA between the years 2000 and 2014. The...
MANAGEMENT OF A PROJECT MANAGER'S COMPETENCES IN PUBLIC ORGANIZATIONS
Monika Chobotová, Žaneta Rylková
Acta academica karviniensia 2015, 15(1):70-81 | DOI: 10.25142/aak.2015.006
Nowadays, there is an increasing number of projects that are created and managed in public organizations. For this reason there is a need to develop managerial competencies (knowledge, skills, and attitudes) for project managers. This issue has been paid little attention so far, especially in terms of competencies necessary for team leadership and management of stakeholders. Competency models are created based on selected competencies and also depending on which aspect of the model is determined. The paper provides a theoretical perspective on the issue of managerial competencies. The article provides a theoretical perspective on the issue of managerial...
CDS SPREADS DETERMINANTS OF CONTRACTS INCLUDED IN MARKIT ITRAXX EUROPE SENIOR FINANCIALS INDEX
Veronika Kajurová
Acta academica karviniensia 2015, 15(1):82-93 | DOI: 10.25142/aak.2015.007
Credit default swap spreads can be used as an indicator of the potential situation in a firm or economy. The instruments for credit risk management become popular among investors and together with a boom of financial innovation, a credit default swap index contract was introduced in June 2004. Since credit default swap spreads represent an indicator of credit risk, the investors and other market participants are interested in factors that can affect credit default swap spread. The aim of this paper is to examine the influence of selected determinants of contracts included in iTraxx Europe Senior Financials index on credit default swap spreads using...
THE METHODICAL CUBE AND THE PROJECT TOOLS AS AN INNOVATIVE APPROACH TO BUSINESS PROCESS MODELLING
Marcela Kovaľová, Lukáš Turčok
Acta academica karviniensia 2015, 15(1):94-104 | DOI: 10.25142/aak.2015.008
The article deals with the problem of business processes modelling. It presents the basic theoretical concepts and proposals how to use various methods of business processes modelling for various levels and attributes of these processes through the created methodical cube. The methodical cube is the methodology of the process model (or map) creation as well as the innovative tool in process management. The objective of this article is to create the basis for business processes optimization and for improving their performance through "the three aspects methodology" required for the business processes modelling and design. The authors mention the project...
THE PROGRESS OF E-GOVERNMENT BENCHMARKING FRAMEWORKS' STRUCTURE IN THE WORLD
Renáta Máchová, Martin Lněnička
Acta academica karviniensia 2015, 15(1):105-118 | DOI: 10.25142/aak.2015.009
E-government benchmarking frameworks are important as they guide countries' focus of their efforts to develop information and communication policies and allocating resources to implement these strategies. With the decrease of importance of basic information society indicators in the past and use of new technologies and trends, new criteria and approaches needed to be introduced in measuring e-government development. Therefore, the existing frameworks should be updated and reframed. The main aim of this paper is to examine a progress in the structure of these benchmarking frameworks and propose a new benchmarking framework, which uses modern technologies...
MARKETING PERCEPTION OF SELECTED CUSTOMERS' SEGMENT IN THE FINANCIAL SERVICES MARKET
Kateřina Matušínská
Acta academica karviniensia 2015, 15(1):119-129 | DOI: 10.25142/aak.2015.010
The paper deals with behaviour of the segment 50+ in the financial market in the Czech Republic (Moravian-Silesian Region). This segment could be said as the strong market power and it can be a crucial business potential for financial business units. The main defined objective of this paper is description of the customers' behaviour of the segment 50-60 years in the financial market in the Czech Republic (Moravian-Silesian Region) in the area of product, price, distribution and marketing communication policy. This paper is based on secondary data and data from primary marketing research. Paper determinates the basic problem areas as well as definition...
ESTIMATION OF THE EFFICIENCY OF SLOVAK COMMERCIAL BANKS BY THE DATA ENVELOPMENT ANALYSIS
Iveta Palečková
Acta academica karviniensia 2015, 15(1):130-140 | DOI: 10.25142/aak.2015.011
This paper estimates the efficiency of the Slovak commercial banks during the period 2004-2013. We applied the non-parametric Data Envelopment Analysis on the data of the Slovak banks. We simultaneously use two alternative specifications of DEA approach, specifically CCR model and BCC model that differ in returns to scale assumption. The results of DEA models show that the average efficiency computed under the assumption of constant returns to scale ranges from 75 to 92% and the average efficiency estimated under the assumption of variable returns to scale ranges from 91 to 98%. The average efficiency was increasing during the period 2004-2007, but...
THE CHANGING COMMODITY MARKETS - WORK ON EU REGULATIONS
Jan Żelazny
Acta academica karviniensia 2015, 15(1):141-153 | DOI: 10.25142/aak.2015.012
Commodity markets are substantial for the shape of the world economy and experienced numerous structural changes over the span of last decades. The financial sector of the economy started to play the commanding role. The prices became more volatile as more and more financial investors began to speculate on commodity markets. Such process combined with other crucial factors leads to market abuses, decreasing transparency of trade and excessive speculation. These issues surged and were mostly observed during the subprime mortgage crisis and in the period straight after it. The policymakers around the globe made an effort in order to diminish those effects...
List of Reviewers
Acta academica karviniensia 2015, 15(1):154