Aktuální číslo


BOOTSTRAP TESTING OF TRADING STRATEGIES IN EMERGING BALKAN STOCK MARKETS

Boris Radovanov, Aleksandra Marcikić

Technical analysis is an approach to predicting future prices based on detecting regularity patterns in prices, volume and other market indicators. It ordinarily proceeds by noting market activity in some graphical form and then deducing possible future trends from the observed historical data. This paper stands on the postulate that stock prices manifest various regularities; once these regularities are identified, technical analysts and/or market participants should be consulted about what is likely to happen next.
více

BUSINESS SYSTEM AS AN EQUILIBRIUM OF INTENTION AND CAUSALITY

Václav Řepa

More than 20 years after the idea of business process-driven management was born there still exist essential insufficiencies in the understanding of how business processes should be modeled in order to respect this idea. These insufficiencies are manifesting themselves even in the existing modeling standards. As the modeling of business process is a necessary first step in the process of implementing the process-driven management idea, this situation seems to be a main barrier of the needed putting this idea into the real life.
více

THE EFFECTS OF PERCEIVED SATISFACTION WITH SERVICE RECOVERY EFFORTS: A STUDY IN A HOTEL SETTING

Estrella Díaz, Mar Gómez, David Martín-Consuegra, Arturo Molina

Innovation and the adoption of new business practices related to customer satisfaction are essential to improve social performance and sustainability, specifically in the tourism sector. While some tourism companies have developed new work strategies, it is difficult to consider issues such as quality certification, environmental policies, human resource training, or customer service norms, among other aspects. For example, in the case of hotels and restaurants, improved sustainability policies have been promoted through regulations and special actions (such as the ITQ 2000 ® RS norm), which generate more effective approaches to planning, innovation and customers and stakeholder relations (Buckley, 2012).
více

MEASURMENET OF INFLATION FORECAST TARGETING. A PROPOSAL OF METHODOLOGICAL SOLUTION

Magdalena Szyszko

Modern monetary policy focuses on inflation expectations. It is consistent with modern monetary theory: new neoclassical synthesis (NNS). NNS gives the background of monetary transmission mechanism. New Keynesian Phillips Curve, IS curve (production equation) as well as central bank’s reaction function include economic agents’ expectations.
více

ANALYSIS OF HIGH COST OUTLIERS IN A POLISH REFERENCE HOSPITAL

Malgorzata Cyganska

A concern over the raising resources consumed by health care costs has become widespread in many countries in recent years (Popesko, Papadaki, & Novak, 2015). Health spending in Poland was 6.4% of GDP in 2013, well below the OECD average of 8.9%. In 2013, per capita health spending in Poland has increased by a strong 3.8% in real terms, far above the average growth (1.0%) across OECD countries (OECD Health Statistics 2015).
více

THE KNOWLEDGE AND USE OF THE BALANCED SCORECARD METHOD IN BUSINESSES IN THE SLOVAK REPUBLIC

Ľubica Lesáková, Katarína Dubcová, Petra Gundová

One of the management tools that is gaining popularity in business practice is the Balanced Scorecard (BSC). The BSC was developed by Robert Kaplan and David Norton in 1992 as an alternative to traditional performance measurement approaches that focus solely on financial indicators and are based purely on a business´s past performance. During the years the Balanced Scorecard has evolved from its early use as a simple performance measurement framework to a full strategic planning and management system.
více

INFLUENCE OF SECURITY AND TRUST ON ELECTRONIC BANKING ADOPTION IN SLOVAKIA

Martin Vejačka, Tomáš Štofa

The rapid development of information and communication technologies (ICT) in recent years has brought major changes in many areas of the economy and even created its new sectors. Rising complexity of technological and heterogeneity of technological infrastructure and their applications contributed to changes in every business area (Voříšek et al., 2015). New opportunities to sell products and provide services arose in the electronic environment. Customers routinely buy in e-shops and electronic banking became a very important form of banking services usage in last two decades.
více

THE METHODOLOGY OF DIGITAL SHADOW ECONOMY ESTIMATION

Ligita Gasparėnienė, Yuriy Bilan, Rita Remeikienė, Romualdas Ginevičius, Martin Čepel

Although following the Regulation No. 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union (EU Commission, 2013), EU Member States are not obliged to measure the scopes of non-observed economy in the European system of national accounts, the economists and statisticians stress the need to estimate the scopes of this phenomenon to have reliable and comparable data on the structure and trends of both national and regional economies.
více

PROPERTY TAX IN THE REGIONS OF THE CZECH REPUBLIC

Jana Janoušková, Šárka Sobotovičová

The issue of fiscal decentralization in the context of the fiscal autonomy of local selfgovernments is still current. The Czech Republic is among the countries with lower tax autonomy (Blöchliger & Pinero Campos, 2011; OECD, 2016; Sedmihradská, 2015). The revenue from assigned taxes and from subsidy programs makes up decisive share in municipal budgets. The state specifies the percentage of revenue for this type of tax that belongs to a specific part of the budget system (in the case of the Czech Republic i.e. regions and municipalities).
více

TYPES OF BANK LOANS AND THEIR IMPACT ON ECONOMIC DEVELOPMENT: A CASE STUDY OF THE CZECH REPUBLIC

Jan Černohorský

In this article, we discuss the relationship of banks, or loans provided by them, and economic development. We decided to investigate this relationship as banks in today’s economies play a significant role as a vital institution in the financial markets, where there is a distribution of monetary funds from surplus entities to deficit entities. A necessary precondition of a functioning economy, in its present mostly mixed form, is a functioning and stable banking system. Currently, uncovered money is to a great extent the money generated by private banks, mainly in the form of loans.
více

EVALUATION AND COMPARISON OF B2C E-COMMERCE INTENSITY IN EU MEMBER STATES

Hana Kunešová, Ludvík Eger

Electronic commerce (e-commerce), as part of e-business, is still undergoing dynamic development and significantly affects the economic reality in EU member states. E-commerce relates to the development of information and communications technologies (ICT). It has gone through development stages (detailed below), and since 2010 (Schneider, 2015) has been in its current maturity stage in developed countries and the European Union (EU) (Qin et al., 2014, according to whom the maturity stage of e-commerce dates back to 2004).
více

RISK-BASED CONTROL OF THE NEGATIVE EFFECT OF DISCONTINUED AUTOMATED PROCESSES – A CASE FROM THE AGRICULTURAL DOMAIN

Athanasios Podaras

The emergence of ICT technologies in the modern era has facilitated and ameliorated the execution of critical business processes. Agriculture is a domain where automation is present in various forms, important and enables farmers increase productivity and improve environmental policies. However, the “industries are faced with numerous types of natural and man-made threats and disruptions” (Maboudian & Rezaie, 2017). As a consequence, effective policies against such threats should be developed.
více

ACCESSIBLE TOURISM FOR ALL – CURRENT STATE IN THE CZECH BUSINESS AND NON-BUSINESS ENVIRONMENT

Ivica Linderová, Petr Janeček

Tourism is a sector of remarkable economic importance. It is currently one of the most dynamically developing sectors of the economy. It provides huge opportunities for socio-economic development (Maráková, Dyr, & Wolak-Tuzimek, 2016). According to the World Tourism Organisation (UNWTO), the European tourism economy contributes about 5% (depending on its definition up to 11%) to the GDP of the European Union and provides between 8 and 24 million jobs (depending on the definition of the sector). Tourism development has numerous economic and socio-cultural impacts on the regional economy, entrepreneurship and local businesses.
více

DIGITAL TRANSPARENCY IN THE PUBLIC SECTOR – CASE STUDY CZECH REPUBLIC

Hana Mohelská, Marcela Sokolová

Transparency in the public sector is still a topical issue in contemporary society. The concept of transparency has been one of the most discussed topics within good governance over the last 20 years, and therefore it at-tracts interest for academic study. The consequences of transparency and also the circumstances that trigger transparency, are studied intensively. The attention given to the concept of transparency appears to have in-creased, mainly due to the spread of the Internet; hence, this paper particularly focuses on transparency enabled by the Internet (Sičáková-Beblavá, Kollárik, & Sloboda, 2016).
více

HOW DOES CORPORATE SOCIAL RESPONSIBILITY IMPACT BANKING EFFICIENCY: A CASE IN CHINA

Ning Zhu, Jelena Stjepcevic, Tomas Baležentis, Zhiqian Yu, Bing Wang

The concept of corporate social responsibility (CSR) drew much attention globally as economic growth was followed by such social problems as an increasing gap between the rich and the poor, cultural conflicts, and environmental degradation. Having acknowledged the importance of the latter challenges, the United Nations officially launched the “Global Compact” project in 2000, thereby calling the enterprises for commitments towards social responsibility in the areas of human rights, labor standards, and environmental protection, among other issues. As an important actor in the global economic development, the banking sector also became aware of huge social costs associated with unsustainable economic growth, and recognized its responsibilities in such areas as an active reduction of social inequality and environmental degradation. Thus it is important to analyze the impact of commitments towards CSR upon banking performance.
více

ESTIMATING CONSUMERS’ BEHAVIOUR IN MOTOR INSURANCE USING DISCRETE CHOICE MODELS

Cristian Mihai Dragos, Simona Laura Dragos

As an effective tool for mitigating financial risk, insurance has nowadays become a key sector of a functioning modern society. Motor insurance constitutes the largest line of business of the non-life insurance sector in Europe, considering its fleet of around 334 million vehicles registered in 2013 (Insurance Europe, 2015). The total motor insurance premiums in Europe amounted to €123.5 billion in 2013, with a 28% share of the total Gross Written Premiums.
více

THE MODERATING INFLUENCE OF CONSUMER DEMOGRAPHICS ON THE RELATIONSHIP BETWEEN PERCEIVED CSR AND BRAND LOYALTY IN THE ROMANIAN RETAIL BANKING SECTOR

Ovidiu-Ioan Moisescu, Oana-Adriana Gică

The relationship between brand loyalty and the extent to which companies are perceived by their customers as being socially responsible represents a relevant research topic, especially in the service industry, and particularly in the banking sector. Currently, even though the banking sector can be generally considered an oligopoly in most countries, competition among banks is intense, due to the decreasing level of their customers’ inertia, as well as to the ease and velocity of switching banking services providers.
více

?
NAPOVEDA
povinné
Jazyk