Saddam Hossain, Beáta Gavurová, Xianghui Yuan, Morshadul Hasan, Judit Oláh
According to data from the World Health Organization (WHO, 2020), the Coronavirus (COVID-19) outbreak in late December has spread to 216 countries, territories or regions, causing more than 21.5 (214,435,732) million confirmed casualties and 4,471,650 deaths worldwide on August 26, 2021. Due to the large and continuous spread of the novel coronavirus worldwide, on March 11, 2020, the WHO officially declared it a pandemic (Mahmud et al., 2021). In most economies, the COVID-19 pandemic has caused uncertainty and a temporary closure with positive cases coronavirus. Therefore, the purpose of this article is to assess the significant impact of the COVID-19 pandemic on intraday stock returns. Many investors close their holdings, including the stock market’s assets, thereby influencing the stock market. According to Jegadeesh and Titman (1993), the stock purchase method is appropriate when stock sales have performer poorly during the holding period of past 3-months to the 12-months. Besides, these forms of momentum gain are inappropriate to justify risk-based momentum. In exchange for 1 to 12 months (Moskowitz et al., 2012), the persistence in partially changed in a longer horizon.
Michal Kuběnka, Jan Čapek, František Sejkora
Managers need to know the situation of companies they manage and what their prospects are in the market. That is why the financial analysis has become a necessary part of the managerial decision-making of any company that intends to succeed in today’s competitive environment. It represents an assessment of the past, the present and the future of the company’s financial health. One of the tools of financial analysis is the bankruptcy prediction model. The great advantage of such models is that their primary source of input data is based on internal information from the company, internal accounting statements, included in the final accounts, that is, their balance, profit and loss statement, cash flow. Accounting units are obliged to prepare their final accounts according to legal requirements. For example, in the Czech Republic, under Act No. 563/1991 Coll., on Accounting, there is an exemption for micro and small accounting units that do not need to prepare cash flow statement if their turnover is up to CZK 200 mill. and their assets are not greater than CZK 100 mill.
Małgorzata Solarz, Magdalena Swacha-Lech
According to the study by Ernst & Young entitled: “Global FinTech Adoption Index 2019”, the level of users taking advantage of FinTech services, expressed as a percentage of the digitally active population for 27 selected countries in 2019 presented the level of 64%. It is worth pointing out that for China this figure amounted to 87%, Great Britain 71%, Switzerland 64% and the USA 46% (Ernst & Young, 2019). As highlighted by Anderson (2015), people of different generations and demographic backgrounds incorporate new technology into their lives at different rates. This paper is focused on Millennials alone, also referred to as Generation Y. This generation includes people born in the period from 1980 to 1995. Millennials, along with Generation Z (also known as iGen and referring to people born in the years 1996–2010), belong to the generations which currently generate highly significant changes in the environment of modern financial institutions (Swacha-Lech, 2019).
Michal Mešťan, Ivan Králik, Leoš Šafár, Ján Šebo
Individuals in mandatory pension saving (MPS) scheme in Slovakia have their savings allocated mostly in one of the pension funds – equity or bond funds. Saving in only one of these funds will be considered as benchmark strategies. In our article, our goal is to compare the profitability that can be achieved with benchmark strategies compared to life-cycle savings strategies. In their case, the ratio of savings between equity and bond components changes dynamically, depending on the age and remaining savings period of 40 years (480 months). We deal with 3 types of individuals with different education level. In addition to comparing the potentially achievable returns at the end of the saving horizon, we will also be interested in the volatility of achievable returns and their spread from the average with the selected savings strategies. Savers are trying to get the best value for money, but they should also take into account the fact that higher potential appreciation also entails higher risk.
Nikola Šubová, Ladislav Mura, Ján Buleca
The financial crisis of 2007/2008, known as the global financial crisis, caused by a combination of an asset price bubble in the real estate sector and a credit bubble leading to excessive leverage, highlighted the importance of the household sector for financial stability of the whole economy. Easy to get a loan and the belief that the house prices would appreciate encouraged more borrowers to get into debt. American households and financial institutions became deeply indebted. At the end of 2007, American households’ total loans and debt securities relative to the GDP was 98.55% (International Monetary Fund, 2020). Mortgage defaults caused by the financial crisis affected financial stability also in European countries. The household sector can influence the economy mainly due to its size and position on the financial markets, but on the other hand, the economic situation of households is also affected by various social, economic, and political changes.