Acta academica karviniensia, 2012 (vol. 12), issue 4

NASTAVENÍ MĚNOVĚ-POLITICKÝCH SAZEB VE VZTAHU K ÚVĚROVÉ A EKONOMICKÉ AKTIVITĚ

Bohuslav Čížek

Acta academica karviniensia 2012, 12(4):5-14 | DOI: 10.25142/aak.2012.053  

This article deals with interest rates set up by the CNB and their relation to loan and economic activity. It shows complexity of economic systems where simple comparisons may give various numbers but principles stay the same. We have to take into account factors like economic stability, overall economic performance, sentiment and expectations. The monetary policy interest rates are not the only factor but definitely they have some power in the direction which is in line with basic economic laws and there are no data, logics, or nexuses denying this fact. The article comes to the conclusion that the Czech monetary policy is quite systematic and we...

ŠTÁTNE INTERVENCIE A TRH PRIVATE EQUITY V STREDNEJ A VÝCHODNEJ EURÓPE

Elena Fetisovová, Eduard Hyránek, Ladislav Nagy

Acta academica karviniensia 2012, 12(4):15-28 | DOI: 10.25142/aak.2012.054  

Primal comprehension of risk capital has been enlarged gradually in the course of time. It is approved by significant amount of funds in Europe and in the USA, which was explicitly specialized for investing in initial development. They diversified their investments and enlarged the subject of their activity to all sphere of risk investments, or focused in development financing only. Change of concept of a meaning risk capital symbolized diversification market of risk capital into two parts: market of classic risk capital and market of development capital. Risk capital is investment in equity of enterprise, which is without history. Objective of capital...

ZMĚNY V ZACHYCENÍ OPRAVNÝCH POLOŽEK BANK A MOŽNÉ SOUVISLOSTI SE ZISKOVOSTÍ A KAPITÁLOVÝMI POŽADAVKY

Jana Gláserová, Vlasta Kašparovská

Acta academica karviniensia 2012, 12(4):29-39 | DOI: 10.25142/aak.2012.055  

Article extends the discussion to the problem of adjustments to loan receivables of banks. In recent years the discussion focuses on the objectivity of the bookkeeping of there and on the negative macroeconomic effects of the currently used model.One of the works objectives of the International Accounting Standards Board (IASB) in 2012 is to decide on the model of bookkeeping of adjustments. The subjects of the solution are three models, that allow to keep accounts of the reduce value of financial instruments - on incurred loss model, a model of expected losses and a model of dynamic provisioning. The aim of the paper is on the based of the description...

ZKUŠENOSTI S PILOTNÍ VÝUKOU AKADEMICKÉHO PSANÍ NA OPF SU

Krystyna Heinz, Emil Horký, Irena Orszulik

Acta academica karviniensia 2012, 12(4):40-47 | DOI: 10.25142/aak.2012.056  

The article focuses on integration of a new subject Academic writing into the curriculum of School of Business Administration in Karviná. The aim of the paper is to analyse the present status of diploma project supervision, point at the main imperfections in academic writing on BA level, and to suggest improvements. Based on the inquiries, recorded during the seminars the difficulties affecting final projects writing are presented. The paper also presents our evaluation questionnaire research results carried out after the Academic Writing pilot course. The research, except the pilot course evaluation, has brought numerous stimuli for further improvement...

THE RESEARCH OF CHANGES IN ENVIRONMENTAL AND ECONOMIC BEHAVIOUR OF HOUSEHOLDS IN THE CZECH REPUBLIC

Zdeněk Hruška, Lilia Dvořáková

Acta academica karviniensia 2012, 12(4):48-59 | DOI: 10.25142/aak.2012.057  

The article contains actual scientific knowledge in environmental taxing in the Czech Republic. It is focused on the influence of environmental taxing impact analysis on households in the Czech Republic and on detection of Czech households' awareness in the environmental taxing area. In the article important discoveries arising from the research by 102 households are analysed. Recommendation for the state authorities is stated for the future stages of the ongoing ecological tax reform.

THE IMPACT OF THE CORPORATE CULTURE ON THE SUCCESS OR THE FAILURE OF MERGERS AND ACQUISITIONS

Robin Kazík

Acta academica karviniensia 2012, 12(4):60-70 | DOI: 10.25142/aak.2012.058  

This work is devoted to the issue of mergers and acquisitions, as well as contribution to the discussion about the corporate culture impact on post-merger integration and success of these transactions. The studies have shown relatively high percentage of failure of these transactions caused by underestimating cultural impact in post-merger integration. Foreign surveys are compared with my research realized among companies after M&A transaction and among transaction advisers from the Czech Republic. The results of this comparison indicate that the clash of the corporate cultures represents the one of the threats to the transaction success. Management...

KAPITÁLOVÁ PRIMERANOSŤ A EFEKTÍVNOSŤ VYBRANÝCH BANKOVÝCH SEKTOROV EURÓPSKEJ ÚNIE

Kristína Kočišová

Acta academica karviniensia 2012, 12(4):71-84 | DOI: 10.25142/aak.2012.059  

Financial crisis mentioned on importance of monitoring and observance of condition for regulation of banking activities. One of the regulation areas is the area of regulatory capital determination. By reason of regulation, the efficiency of banks and banking sectors are influenced too. Therefore the aim of this paper is to monitor, if there exist the relation between capital adequacy and efficiency measured by input oriented DEA models in banking sector of EU countries. The analysis was realised by testing of hypothesis. The result was the rejection of null hypothesis points to the fact, that none of used indicators of capital adequacy is able to record...

APPLICATION OF THE LAPLACE TRANSFORM FOR THE EVALUATION OF CONSOLS' PRESENT VALUE

Jiří Mazurek

Acta academica karviniensia 2012, 12(4):85-90 | DOI: 10.25142/aak.2012.060  

The aim of the article is to demonstrate the use of the Laplace transform to the evaluation of consols' present value under different streams of returns (dividends). Consols (or perpetual bonds, perpetuities) are bonds with no maturity, which means that interest is paid to a bondholder perpetually (usually annually) forever. The present value of a consol, when constant interest is paid, is simply a ratio of this interest and interest rate. However, when interest payments (stream of returns to a bondholder) change in time the evaluation of consol's present value is more complicated. In the first part of this article it is shown that the Laplace transform...

MARKETING PODNIKU V DOBĚ KRIZE

Miroslav Merenda

Acta academica karviniensia 2012, 12(4):91-97 | DOI: 10.25142/aak.2012.061  

Article deal with marketing company at the time crisis. Competitive advantage ave restraint. Intent on consumer is yet major than in time favourable. Maintainance strong brands stays one of the best way how limit hazard company and zefektivnit his achievement.The aim marketing is to sell with permanent profit, which is an expression of social recognition of productive and business activities of each entrepreneur. Business can be successful only if customers are satisfied and thein purchases are repeated.

THE BANKING SECTOR IN CHINA IN THE LIGHT OF THE CONTEMPORARY FINANCIAL CRISIS

Paweł Mrowiec

Acta academica karviniensia 2012, 12(4):98-105 | DOI: 10.25142/aak.2012.062  

The scale of the impact of the contemporary "American crisis" is undoubtedly global. Many experts believe that the crisis began with the bankruptcy of the 158-year-old investment bank "Lehman Brothers", which was announced on 15 September 2008, although the problems of American investment banks began a few months earlier when "Bear Stearns" was acquired by "JPMorgan Chase", and "Merrill Lynch" was taken over by "Bank of America". The crisis in the U.S. subprime mortgage market has brought into the most serious collapse of global economic activity since so-called "Great Depression" of the 30s of the last century. Today's "American crisis" is described...

SPOLEČENSKÁ ODPOVĚDNOST FIREM A SOCIÁLNÍ PILÍŘ

Renáta Nárožná

Acta academica karviniensia 2012, 12(4):106-115 | DOI: 10.25142/aak.2012.063  

Social integration can be understood as a package of measures aimed to reintegrate marginalized groups of people into the social mainstream. In the Czech Republic, this comprehensive effort is associated solely with liabilities of state and municipalities and activities of non-governmental non-profit organizations. The role of private sector has been rather marginal in this area. However, it is obvious that the state, strictly separating beneficent-like efforts from profitable activities, hinders successful process of social integration in many aspects, particularly in the area of employment and housing that are crucial for this process. This article...

SPOKOJENOST ZÁKAZNÍKA V KONTEXTU PODNIKŮ CESTOVNÍHO RUCHU

Lenka Půlpánová

Acta academica karviniensia 2012, 12(4):116-124 | DOI: 10.25142/aak.2012.064  

Tourism industry is characterised by high level of competition. Particularly in the Czech Republic, the number of travel agencies has been constantly growing since 2004. The companies should focus on the analysis of customer satisfaction in order to succeed in this market. It is not sufficient to know with which attributes the customers are more or less satisfied. It is essential to take the importance into consideration, i.e. whether the attribute with which customers are not satisfied, is also important for them or not, and in accordance with this to allocate the resources in order to improve the performance. Therefore, this article introduces the...

AN EFFECTIVE WAY TO MANAGE OVERHEAD COSTS IN THE CONDITIONS OF SERVICE UNITS

Petr Teichmann

Acta academica karviniensia 2012, 12(4):125-138 | DOI: 10.25142/aak.2012.065  

This paper is focused on cost management in terms of service units with dominating overheads. It contents aspects of both classical budgeting and cost analysis methods and cost management based on Activity- Based Costing methods. Its aim is to give a practical instruction how to manage overheads in service units.

MORAVSKOSLEZSKÝ KRAJ - REGION S KLESAJÍCÍM POČTEM OBYVATEL

Pavel Tuleja, Karin Gajdová

Acta academica karviniensia 2012, 12(4):139-150 | DOI: 10.25142/aak.2012.066  

In the Czech Republic, finding regions whose demographics were quite negatively affected by the intense socio-economic change, which went through the whole Czech Republic during the 90th the last century. These administrative units include the Moravian-Silesian region, the demographic development is characterized by long-term population decline. Although the causes of population decline was found in both natural increase and net migration in the area, as more serious problem appears to us a negative migration balance, as in this case, the long-term development in the region, contrary to developments in other regions of the Czech Republic.

ZPŮSOBY ZDAŇOVÁNÍ DIVIDEND JAKO DŮLEŽITÁ INFORMACE PRO ROZHODOVÁNÍ INVESTORŮ

Ivana Valentová, Jan Široký

Acta academica karviniensia 2012, 12(4):151-162 | DOI: 10.25142/aak.2012.067  

The nominal (statutory) rate of the corporate tax rate reflects the tax burden of companies insufficiently, it is necessary to analyze other aspects of the tax structure. The interconnection of corporate and personal income tax belongs among these aspects. The aim of the paper is to map the internal (economic) double taxation in the EU countries using methods of analysis, comparison and synthesis. Since the dividend policy is also the important information for investors for companies setting up and development.

GLOBAL ECONOMIC CRISIS AND MARKETING DEFENCE OF THE TERTIARY SECTOR

Miroslava Vaštíková

Acta academica karviniensia 2012, 12(4):163-172 | DOI: 10.25142/aak.2012.068  

This article reflects the basic summary of observations achieved in the primary marketing research realized within lessons of Marketing of services carried on Silesian University in Opava, OPF in Karvina in 2010. The main task of the research was to find whether and in which ways the economic crises affects marketing strategies of companies providing services. Marketing strategies shall be represented by elements of marketing mix. For needs of this article we have chosen companies whose activities help the tourist trade development, i.e. companies providing services in hotel industry, accommodation and tourism. Data achieved from this research are...

REGULATORNÍ OPATŘENÍ SOLVENCY II V KONTEXTU SOUČASNÉ FINANČNÍ KRIZE

Eva Vávrová

Acta academica karviniensia 2012, 12(4):173-182 | DOI: 10.25142/aak.2012.069  

The main objective of the new regulation of the insurance industry is the protection of policyholders, insured persons and beneficiaries, connected with the financial stability of the insurers supervised. The stabilizing role of the insurance industry will be supported by higher demands on high-quality and functional risk management system and on the robust system of internal control in commercial insurance companies. These demands follow from the implementation of a new regulation Solvency II. This paper focuses on the analysis of specific goals of the realization and structure of the Solvency II regulation within its second pillar. A partial aim...

INTERACTION OF EU ETS ALLOWANCES AND ENERGY PRICES: EVIDENCE FROM THE CZECH REPUBLIC

Barbora Vondrušková, Ingeborg Němcová, Jiří Horák

Acta academica karviniensia 2012, 12(4):183-192 | DOI: 10.25142/aak.2012.070  

This article follows closely one of the principal challenges of the European Union - global, economic and environmentally sustainable development. This development is currently endangered by climate change which is being caused by increasing concentration of greenhouse gases in the atmosphere. At this moment, market instruments (emissions allowances trading, carbon taxation, etc.) represent such a green house gases reduction policy, attributed with the lowest cost level and high transparency. First attempt on coordinated international effort within this domain was the Kyoto protocol valid until 2012 - currently there are intensive negotiations being...

PROBLEMATIKA DAŇOVÉ SOUSTAVY Z POHLEDU ZKOUMÁNÍ NÁZORŮ VYBRANÝCH POSLUCHAČŮ VYSOKÝCH ŠKOL EKONOMICKÉHO ZAMĚŘENÍ

Monika Wiesner, Eva Mauritzová

Acta academica karviniensia 2012, 12(4):193-205 | DOI: 10.25142/aak.2012.071  

Overall this article is focused on the tax system of the Czech Republic and its subsequent development to the present time. It is also targeted at the issues and results related to the research reports and in particular the evaluation and findings by examination the individual views of economic university students, also their extensive economic perceptions of the tax system and tax policy of this state. In essence, there were chosen some students of University Business in Ostrava and the School of Business Administration in Karviná (SU in Opava), who are citizens of the Czech Republic and have practical experience in the use of tax return. Published...

FUNTA, R., NEBESKÝ, Š., JURIŠ, F. Európske právo

Alena Pauličková

Acta academica karviniensia 2012, 12(4):206-207 | DOI: 10.25142/aak.2012.072  

NERUDOVÁ, D. Harmonizace daňových systémů zemí Evropské unie

Irena Szarowská

Acta academica karviniensia 2012, 12(4):208-209 | DOI: 10.25142/aak.2012.073  

List of Reviewers

Acta academica karviniensia 2012, 12(4):210-212