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.
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.
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).
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.
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).
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.
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.
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.
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).
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.