2011/22 Scientific papers, Series D
Permanentní URI k tomuto záznamuhttps://hdl.handle.net/10195/42676
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Článek Otevřený přístup peer-reviewedpublished Vliv zavedení Eura na transakční náklady MSP(Univerzita Pardubice, 2011) Šudřichová, MartinaThe European Monetary Union deals now days with a series of problems concerning with the indebtedness of some member states. From the EU side corrective arrangements are accepted such as The European semester, The Euro Plus Pact or the Euro area rescue mechanisms. Just the current situation in the euro area and the nonreformed public finance of the Czech Republic force significantly the uncertainty in case of setting a new date of the euro introduction. If the EMU copes with the current debt problems, Czech Republic will execute the planned public finance consolidation and if there is a euro-optimistic party in the government we can suppose that the Czech join the euro area project will lead into a successful ending. The article concerns with benefits of the euro introduction for the SME by removing the transaction costs. It offers a basic overview of the bank fees connected with the foreign exchange account administration and with the euro non-cash foreign payments at different banks. There are presented model situations and discussed the benefits and costs of the euro introduction and postponing of the euro introduction in the Czech Republic for the SME from the transaction costs point of view.Článek Otevřený přístup peer-reviewedpublished Podnikanie na slovensku a hodnotenie podmienok podnikania vo vybraných regiónoch(Univerzita Pardubice, 2011) Šúbertová, ElenaThe maximum number of business entities – individuals was recorded in the Slovak Republic in the year 2008, up 418 219 enterprises. Entrepreneurs for their business are surrounded by a number of internal and external factors. These factors create a business environment. Enterprises are linked each other with mutual connections which are changing in time. Some of factors operating on business environment are sensitive on other conditions, e.g. local taxes. To 31.12.2010 were tax and non-tax revenues the state budget in the Slovak Republic with 7 962 684 737 Euros including value added tax amounted to 4 431 539 377 Euros. It is good, that all our 522 respondents feel competent to evaluate conditions for entrepreneurship in tax and insurance area and in financial support. Their evaluation in all matters was not clearly positive.Článek Otevřený přístup peer-reviewedpublished Hodnocení konkurenceschopnosti visegrádské čtyřky prostřednictvím aplikace CCR vstupově orientovaného modelu analýzy obalu dat(Univerzita Pardubice, 2011) Staníčková, Michaela; Melecký, LukášThe paper deals with an application of Data Envelopment Analysis (DEA) to Visegrad Four (V4) countries and their NUTS 2 regions. The aim of the paper is to analyze a competitive potential of V4 countries and their regions by quantitative efficiency analysis. DEA method becomes a suitable tool for setting a competitive/uncompetitive position of each V4 country and NUTS 2 region within the Visegrad Group. The DEA method used for this evaluation is directly applied to the group of V4 countries and NUTS 2 regions based on a particular set of input and output indicators. The inputs and outputs form the key elements of the system evaluated for every country and region in the sense of their effective/ineffective economic position. In the first step, the economic efficiency of the countries and regions will be considered, in the second one, comparison of the competitive potentials of the countries and regions will be provided. National and regional efficiency is thus the mirror of competitiveness.Článek Otevřený přístup peer-reviewedpublished Multi-agent simulation of financial market with transaction costs influence(Univerzita Pardubice, 2011) Spišák, Marek; Šperka, RomanWe implement a multi-agent financial market model simulation in which agents follow technical and fundamental trading rules to determine their speculative investment positions. We consider direct interactions between speculators due to which they may decide to change their trading behaviour. For instance, if a technical trader meets a fundamental trader and they realize that fundamental trading has been more profitable than technical trading in the recent past, the probability that the technical trader switches to fundamental trading rules is relatively high. In particular the influence of transaction costs is studied, which can be increased by the off-market regulation (for example in the form of taxes) on market stability, the overall volume of trade and other market characteristics.Článek Otevřený přístup peer-reviewedpublished Pobídkový systém odměňování a informační neurčitost(Univerzita Pardubice, 2011) Šnapka, Petr; Janečková, ViktorieThis paper aims to initiate an analytical account of the issues of economy condition applications incentive pay system employees. Economy and its fulfillment will be considered one of the conditions for effectiveness of the incentive application. The second condition for effectiveness will be achievement of the desired level of efficiency of application given incentive pay system. A sample can be considered a bonus pay system. Cost-effectiveness condition analysis is associated with an assessment of the impact of information uncertainty rules in structuring and quantifying the level of input factors (indicators) Determining the amount of potential incentives and performance of the condition of incentive pay.Článek Otevřený přístup peer-reviewedpublished Zhodnocení rizikovosti IPO indexů(Univerzita Pardubice, 2011) Škapa, Stanislav; Meluzín, TomášThe objective of the paper is to critically evaluate and determine risk-return profile of IPO (Initial Public Offering) indexes (investments instruments) and whether IPO indexes should be taken in as an independent asset class of investments portfolio for its risk-return improvement. There were used IPO STOXX indices (STOXX IPO 3, STOXX IPO 12 and STOXX IPO 60) as a representative of IPO´s companies for scientific research in the field of IPO´s risk investment. For comparation the relative investment risk of IPO´s companies were used selected stock indices, as well as other asset classes (commodity index and bond index). There were used methods of classical statistics and nonparametric methods, especially computer simulation (the bootstrap method) for risk exploration of individual indices. As a risk measurement were taken into account the standard deviation, interquartile ranges and the percentile. Obtaining calculations show that short-term investors can achieve above-average capital gains via IPO investment. From the perspective of an investor who wants to invest into IPO´s companies coming into consideration the investment instruments which replicating indexes STOXX IPO3 and STOXX IPO12 but not STOXX IPO60. The investor must be aware of higher risks, specifically by about 65-75% higher compared to large-cap European companies (e.g. blue-chip STOXX 50 index). The STOXX IPO 3 index reaches extreme losses by about 20% higher than STOXX IPO 12, and at almost the same rate of return for the observed period.Článek Otevřený přístup peer-reviewedpublished Oil prices and its dependence on oil reserves(Univerzita Pardubice, 2011) Polách, Jiří; Virglerová, ZuzanaOil is a strategic raw material with many uses, mainly as a source of energy. As such energy source nowadays it cannot be replaced efficiently. More often oil is a reason for wars and disputes. It is exhaustible source of energy, with reduction in time. Lower supply and growing price are thus interconnected. Article is trying to find dependence of oil price on its reserves and predict the possible price development in the future, based on historical data about reserves and average oil prices. First, an oil production sector is analyzed, using SWOT analysis and analysis of offer and demand. On the side of offers there are countries named with biggest oil fields and than world supply as a whole. On the side of demand biggest oil users are defined and development of world needs for this raw material. Next, using Pearson correlation and Spearman ranks correlation coefficient a research was performed on dependence of two values (average oil price and oil supply during each year since 1980). Using polynomials a chart is build regarding future oil pricing, calculated from past development of quantities mentioned.Článek Otevřený přístup peer-reviewedpublished Komparace vnímání krize českými a holandskými firmami(Univerzita Pardubice, 2011) Pellešová, Pavlína; Fajová, RenátaThe paper is focused on analyzing the perception of crisis by selected businesses in the Czech Republic and Holland. As the analysis method was used a questionnaire survey, which helped the comparison of impacts on the business sector in these economies. Article compares the problems of companies doing business in times of crisis, awareness about the aid business, their involvement in business support and using active employment policy tools. It analyzes the internal and external environment of firms, they identified their strengths, weaknesses and opportunities and threats. The comparison showed that the companies have agreed in area such as the need for assistance in that area, the impact of the crisis to firms, involvement in business support programs, non using of active employment policy. The crisis manifested itself in every economy. The analysis shows that the business sector hit in some areas equally. On the other hand, cause the loss of customers is perceived differently. The differences are also shown in the awareness of the aid business.Článek Otevřený přístup peer-reviewedpublished Znaky regionálních inovačních systémů(Univerzita Pardubice, 2011) Maťátková, Kateřina; Stejskal, JanRegional innovation systems (RIS) are become very important instrument of regional policy. This instrument is based on linkages among the institutions in region which are from public and private sector. These linkages are very important because they provide the environment for innovation process which is the main point of RIS. There are defined the main characteristic of the RIS and its specification for Czech Republic in this paper. The core of paper is in the analysis of successfully working RIS existence. This analysis is based on definition of the components of RIS in the Czech Republic. Then is explored the existence of these components in the conditions of Czech Republic and the existence of the linkages among them. At the end of the paper there are summarized the conclusions and recommendations based on the results of analysis.Článek Otevřený přístup peer-reviewedpublished Organisational perception of employee turnover(Univerzita Pardubice, 2011) Linhartová, LucieEmployee turnover is considered as one of the persisting problems of human resource management. This paper explores perception of employee turnover and related issues by managers. The data for this study were collected by three successive surveys. Two of surveys were focused on employees and causes of their disaffection and turnover and following third research was focused on managers. The aim is to identify causes of employee turnover, compare the results of surveys focused on employees and managers and suggest intervention into parts which were identified as controversial. Data were tested by statistical tests and analyses. Results show low usage of information regarding employee turnover among Czech managers. Based on the outputs of analyses it is possible to conclude that turnover is not usually managed in referred organisations and effort to objectively solve negative employee turnover have minimum of referred managers. Intervention to the system of turnover management is suggested with greater emphasis of top management to existing practices, which are very often ignored by the line managers. The findings stimulate changes inside organisations to lower turnover, because even a minimum positive change of conditions bring greater effect than invested effort and costs.