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FOOD PRICES, TAXES, AND OBESITY IN CANADA AND ITS IMPLICATIONS FOR FOOD TAXATION

Stephen J. Clark, Ludwig O. Dittrich, Stephen M. Law, Dana Stará, Miroslav Barták

An important health financing issue facing Canada and other OECD countries (OECD, 2017) are the health consequences of obesity. Statistics Canada (2014) reports that 51.6% of adult Canadians were overweight or obese in 2009 compared to 53.6% in 2013. The proportion of Canadians who are overweight differs by sex, with 59.2% of Canadian males overweight in 2009 compared to 62% in 2013 and 43.9% of females overweight in 2009 compared to 45.1% in 2013. These increases have led to calls for policies to control obesity (see Clark et al., 2014). These rates of obesity are based on the body mass index (BMI) which is the ratio of weight (in kilograms) to the square of height (in meters). Cranfield (2007) uses the Canadian Community Heath Survey (CCHS) to examine the determinants of the body mass index (BMI) of Canadians.
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MEASURING FINANCIAL INTERMEDIATION: A MODEL AND APPLICATION TO THE SLOVAK BANKING SECTOR

Martin Boďa, Emília Zimková

Several factors may be earmarked as vital to smooth and successful working of a developed economy; and one of these factors is the financial system, which provides valuable services to the economy and its stability is always deemed imperative to the stability of the entire economy (e.g. Beck et al., 2014, p. 1-2). This laudatory statement is by no manner diminished by the fact that there is – at it happens – a scattered mosaic of opposing opinions to what extent a sound financial system is actually important to economic growth (Levine, 1997; Thiel, 2001). The key function of the financial system in an economy is “to channel savings to investment” (Thiel, 2001, p. 7), or – putting it differently – to connect agents with surplus funds to those who are in deficit, which are merely two different ways to describe the essence of financial intermediation. The definition is suggestive that financial intermediation should be assessed by comparing how surplus funds are matched against deficit needs.
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DEFAULT RATE IN THE CZECH REPUBLIC DEPENDING ON SELECTED MACROECONOMIC INDICATORS

Radmila Stoklasová

Since the late 1980s, the Czech Republic has undergone the transformation process from a centrally planned economy to a market economy. The modernization of the country’s financial sector is a fundamental condition for economic growth. The beginning of the transformation was associated with a rapid increase in credit activity. There was a decrease in the growth rate in the second half of the 1990s, followed by a decrease in the volume of lending. The volume of lending has increased again and the number of ‘bad’ credits has increased also since 2000.
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DOES THE TAX RELIEF FOR HOMEOWNERSHIP HAVE EFFECT ON HOUSEHOLD MORTGAGE LEVERAGE?

Barbora Slintáková, Stanislav Klazar

Tax systems of developed countries contain provisions that give a preferred status to housing and homeownership. A significant relief is provided especially by the combination of non-taxation of imputed rental income and mortgage interest payment deductibility. Real user costs of owner-occupied housing are reduced (see Poterba & Sinai, 2008) and thus a bias in favour of the homeownership is created when households are encouraged to buy rather than to rent their dwellings.
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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.
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FACTORS AFFECTING SENSITIVITY OF COMMERCIAL BANKS TO BANK RUN IN THE VISEGRAD COUNTRIES

Pavla Klepková Vodová, Daniel Stavárek

The recent financial crisis has shown that liquidity risk plays an important role in the contemporary financial system. This is especially true for economies that are traditionally based on banks and credit markets. A liquidity shock may propagate through a real channel or an information channel and then affect the entire financial system (Frait & Komárková, 2011). As a systemic banking crisis can have costly consequences such as declines in gross domestic product growth, real house prices and real equity prices and increases in unemployment rate, real public debt, among other effects (Reinhart and Rogoff, 2009), it is not surprising that most regulators, policymakers and academics devote significant attention to various aspects of liquidity risk measurement and management.
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DIMENSIONS OF LIQUIDITY AND THEIR FACTORS IN THE SLOVENIAN BANKING SECTOR

Jana Laštůvková

The interest in bank liquidity has grown significantly in recent times not only among regulators, but in authors’ studies as well. The trigger mechanism was mainly the recent global financial crisis, where a number of systems faced liquidity problems. On the basis of the crisis, the regulation on the part of the Basel Committee (Bank for International Settlements, 2010) in the area of liquidity has increased. The Basel Committee proposed the introduction of two liquidity indicators: the LCR (Liquidity Coverage Ratio) and the NSFR (Net Stable Funding Ratio), which the member states must obligatorily fulfil based on European law.
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THE RELATIONSHIP AMONG CUSTOMER SATISFACTION, LOYALTY AND FINANCIAL PERFORMANCE OF COMMERCIAL BANKS

Jaroslav Belás, Lenka Gabčová

Customer satisfaction is an important factor in the performance and competitiveness of banks (Keisidou et al., 2013; Chavan & Ahmad, 2013; Belás, Chochoľáková, & Gabčová, 2015). Compliance with the consumers’ needs and requirements (Bilan, 2013), comprehensive customer care and the bank customers satisfaction is currently in the centre of attention of researchers and bankers (as it represents an important marketing variable for most of the companies (Munari et al., 2013).
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DETERMINANTS OF BANK SOCIAL RESPONSIBILITY: CASE OF CROATIA

Ana Ivanisevic Hernaus, Alen Stojanovic

Recent financial turmoil, uncertain and unstable world and increasing public pressure have put financial sector and its responsibilities under great scrutiny. This has led to putting more emphasis on social responsibility of financial institutions, primarily banks, due to a powerful and influential position they have. Indeed, bank managers are becoming more concerned with social responsibility, resulting in a widespread adoption of social responsibility by the global banking community.
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THE BUSINESS ENVIRONMENT OF SMALL AND MEDIUM-SIZED ENTERPRISES IN SELECTED REGIONS OF THE CZECH REPUBLIC AND SLOVAKIA

Jaroslav Belás, Valér Demjan, Jozef Habánik, Mária Hudáková, Juraj Sipko

The business environment of small and mediumsized enterprises (SMEs) is a current area of theoretical research and practical applications in the European Union. The fi nancial crisis and the gradual recovery of the economies in the European Economic Area brought about a deterioration of the business environment.
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