2012/24 Scientific papers, Series D
Permanentní URI k tomuto záznamuhttps://hdl.handle.net/10195/49508
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Článek Otevřený přístup peer-reviewedpublished Information and communication technologies and their benefits for medium and large-sized enterprises(Univerzita Pardubice, 2012) Tichý, OndřejThe primary research, which is brought by this paper, focuses on medium and large-sized enterprises in sectors of information and communication technologies(ICT). It investigates their attitude to the ICT that they use. Based on these ICT, the article is looking for trends set by the companies. Then, these trends could be considered as an inspiration for companies from other sectors of business. The research results have shown that the specially developed software belongs between the most often implemented ICT tools in the last seven years by the questionnaire companies. The research also showed that this ICT tool of all, which they have implemented, is the most beneficial at a tactical level. Another part of analysis, where the companies should chose benefits that arose from the implementation, pointed out that they are focused on two basic clusters of benefits. The first contains: improved teamwork and increased efficiency and effectiveness. The other cluster contains: reduced costs, improved service quality and improved integration of business functions. The research also showed thatthe surveyed companies consider the ICT only as a tool, which simplifies work.Článek Otevřený přístup peer-reviewedpublished The cyclicality of government expenditure and wagner's law - case of Czech Republic, Slovakia, Hungary, Bulgaria and Romania(Univerzita Pardubice, 2012) Szarowská, IrenaThe importance of government expenditure management has increased during the last years. This paper provides empirical evidence on the cyclicality and the relationship between government expenditure and output in five European Union members in a period 1995–2009. We use Johansen cointegration test and the error correction model and analyze annual data on government expenditure in compliance with the COFOG international standard. The results confirm that the government expenditure functions are procyclical in most countries (91% cases in the sample). Output and government expenditure are cointegrated at least for four from ten expenditure functions in every country (four in the Czech Republic and Hungary, five in Bulgaria, seven in Slovakia and eight in Romania) and it implies a long-term relationship between government expenditure and output. Average value of long-run elasticity coefficients is 1.72 for all expenditure functions, 1.16 for total government expenditure. Conclusions about the short-run relationship between expenditure and output are not unambiguous due to a relatively low statistical significance. However, the coefficient values (average is 3.14) confirm the voracity hypothesis, as they suggest that in response to a given shock to real GDP, government expenditure will rise by even more in percentage points.Článek Otevřený přístup peer-reviewedpublished The potential of enlargement of the European Union(Univerzita Pardubice, 2012) Sobotka, Martin; Sobotková, Lucie; Řízek, ZdeněkThe article deals with the possibilities of expansion of the European Union, not only by the membership, but also by the other integration methods. In the basic documents of the European Union, which form the legal basis of the arrangement of the European Union is not the geographical jurisdiction strictly mentioned to the old continent. This enables further enlargement of the European Union outside the geographic territory of the European continent. In addition, the European Union has the possibility to use different degrees of integration, without the condition the potential states must be forced to be members of the European Union. Outside the European Union is mentioned the African continent and its selected regions, region of North African countries and the region of South African countries in this article. All countries (European and African) have been submitted by indicatory the Failed States Index, and with the help of indicators of World Bank Data Set has been processed in the time series, which are ten-years development in selected indicators.Článek Otevřený přístup peer-reviewedpublished Selected problems associated with modeling the biggest compensations in non-life insurance(Univerzita Pardubice, 2012) Poprawska, Ewa; Jędrzychowska, AnnaModelling the highest compensations are very important for insurance companies, as more and more policies now can generate high claims (for example third party liability insurance, property, especially connected to catastrophic events). In modelling extreme values of compensations paid by insurance company it is possible to use different models (exponential, gamma, Pareto distribution are most common) for typical values and different ones for the highest compensations (for example Generalised Pareto distribution). In this case however a problem of choice of the point, in which the change of the way of modelling is taking place appears. The paper is devoted to methods useful in choosing this point, that can be found in literature. Using simple example of the data, these methods can be analysed to find their advantages and disadvantages. All of the presented methods are mainly based on the analysis of graphs of selected parameters, which makes the results obtained are not strict guidelines, however, provide indicative results.Článek Otevřený přístup peer-reviewedpublished Creating a context as the base for entrepreneurial support policy(Univerzita Pardubice, 2012) Mandysová, IvanaThis study advances knowledge in the field of entrepreneurship policy and lays out a path for policymakers to follow. It highlights some of the major challenges faced by governments in evaluating the impact of policies and measures geared towards producing higher levels of entrepreneurial activity and discuss the potentially conflicting perspectives of entrepreneurs, policymakers and service providers. In this study we present the findings of entrepreneurship support policy stated in author´s monograph including theoretical background of entrepreneurship support policy and its policy foundations and entrepreneurship policy framework. We discuss conceptual issues related to steps identifying entrepreneurship policy measures; the appropriate choice of entrepreneurship support policy options and several issues concerning the improvements of entrepreneurship policies and programs. We introduce the Context model for Entrepreneurial Support that may be useful to government in taking stock of its current policy orientation and to better enable the assessment of entrepreneurship policy across country. We conclude with a discussion of how to approach the development of an integrated entrepreneurship policy approach and the future implications of this for policymakers, researchers, and economic development agents.Článek Otevřený přístup peer-reviewedpublished Financial health and the cost of capital of travel agencies before and after the crisis(Univerzita Pardubice, 2012) Honková, IrenaThis Article deals with the evaluation of the economic crisis in the area of travel agencies. The evaluation was based on the Altman Z-score of financial health and the weighted average cost of capital (WACC). Data presented in 2007-2010 financial reports compiled by selected companies were also employed. Using the signed-rank test the hypothesis the impact of the financial crisis on the financial health of selected companies was examined. The same test was applied to the weighted average cost of capital. Furthermore, dependencies between financial health and the weighted average cost of capital during individual years in concern were investigated. This dependency was tested by means of Spearman coefficient, determination index a correlation coefficient. According to the tests of statistical hypotheses the companies were not affected by a lower Altman Z-score during the crisis; i.e. Their performance was not worse than before the crisis. The impact of the crisis on the weighted average cost of capital was not proven either. Dependency between both indicators (the Altman Z-score and the weighted average cost of capital) was not established. The aim of this Article was to evaluate the impact of the financial crisis and to find possible dependency between stability (represented by the Altman Z-score) and the weighted average cost of capital. It was ascertained that the financial crisis did not have any significant influence on the financial performance of the selected companies. Dependency between the two indicators discussed above was not proven either.Článek Otevřený přístup peer-reviewedpublished An institutional analysis of bank regulation(Univerzita Pardubice, 2012) Gleta, Jakub; Teplý, PetrThis article focuses on the institutional content and impact of the new Basel Capital Accord, commonly known as Basel III. These rules were enacted in response to the recent developments in global financial markets and to introduce some substantial changes into established regulatory approaches. We use the method of “process tracing” of the neo-proceduralist school to assess whether Basel III is a victim of regulatory capture or not. We find that Basel III met a number of procedural requirements and is not a victim of regulatory capture. On the other hand, we point to the fact that there remain numerous open issues that could undermine the as yet unfinished outcome and cause Basel III to join its predecessors in their fate.Článek Otevřený přístup peer-reviewedpublished Bank stress tests, financial stability and simulation of "feedback" effect(Univerzita Pardubice, 2012) Garguláková, Monika; Belás, JaroslavStress testing is one of the main key quantitative tools for assessment of financial stability. In this process, the assets of banks are exposed to the stress of adverse effects of defined shocks derived from historical and hypothetical scenarios. The aim of stress testing is to verify the hypothetical whether the banking sector is sufficiently resistant to the potential effects of adverse shocks and whether it would not be a threat to financial stability in case of their realization. This article aims to present the current system of stress testing in the Czech Republic and to define the possible impact of selected scenarios for stress testing on the business of banks and capital adequacy. Banks stress testing may result in pro-cyclical behaviour of the banking sector, which under certain conditions may exhibit the reverse negative impact effect on the economy. In the article we use the basic methodology for calculating capital requirements for stress testing, adjusted by own scenarios of adverse shocks. Results of our research point to existing pro-cyclical relationship between regulatory rules and trading activities in the banking sector. Tightening of banking regulation creates conditions for a gradual reduction of the economy performance.Článek Otevřený přístup peer-reviewedpublished Evaluation of transit lines plan(Univerzita Pardubice, 2012) Cenek, JurajThe plan of mass transport or transit lines is a vital part of an organisation of public transportation services. An optimisation of the plan can improve the service either by reducing the operational costs or by improving of service quality. Three subjects interact in the problem namely state or local administration, transport companies and citizens. The plan optimisation should find the best compromise to satisfy interests of all actors. A relevant criterion must be defined to find the best solution. Calculating passenger criterion values must include model of passenger’s decision.Článek Otevřený přístup peer-reviewedpublished A new proceuure to deal with the macroeconomic imbalance in the European Union(Univerzita Pardubice, 2012) Applová, PetraThe objective of the presented paper is, in the first place, to look into the solution of current serious macroeconomic problems of member states of the European Union by laying down a new enforcement mechanism described in the Alert Mechanism Report (AMR). In recent years distinctive and persistent macroeconomic imbalances have accumulated that are reflected in high and persistent external deficits and surpluses, in the persistent loss of competitiveness, in the dramatic increase in indebtedness and in the increase in real estate bubbles, which were one of the causes of the current financial crisis. Macroeconomic problems of the European Union’s economies are dealt with in the very AMR, which defines a new procedure for the prevention and reformation of macroeconomic dysfunctions. Based on compliance with ten selected indicators according to determined threshold values those economies are identified that are liable to undergoing various macroeconomic imbalances in years to come. In the end the paper uses selected statistic methods, namely cluster analysis, to look into the mentioned indicators of external imbalances and competitiveness and imbalances inside an economy in question. The article focuses on the analysis of the created clusters according to their similarity in the development of the mentioned macroeconomic indicators and on the assessment of the conclusions of the EU commission.