Template-Type: ReDIF-Article 1.0
Author-Name: Jana Marková
Author-Name: Božena Hrvoľová
Title: Share Valuation Using the Comparative Method
Abstract: The comparative method is one of the methods of assessment of equity securities in theory and practice. The practical application of the comparative method is arranged in MS Decree No. 492/2004 Coll. on the establishment of the universal value of property and in Act No. 431/2002 Coll. on accounting, as amended by later regulations. According to this method, internal (general, real) value is derived from information on specific prices or values of shares of similar companies. The comparative method can be applied without serious problems only provided that the differences between the companies are small; otherwise, its use has been problematic. To find a comparable public limited company on a mature capital market, where the number of traded comparable companies is high, is not a problem. It is very difficult for a small market such as Slovakia’s stock market. This paper discusses the application of comparative methods to the non-standard Slovak capital market.
Keywords: valuation, intrinsic value, methods of valuation, comparative method
Classification-JEL: C52, E44, G12
Pages: 16-37
Volume: 2016
Issue: 6
Year: 2016
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=544.pdf
File-URL: http://www.vse.cz/aop/544
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2016:y:2016:i:6:id:544:p:16-37
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Template-Type: ReDIF-Article 1.0
Author-Name: Pierre Brouland
Author-Name: Janka Priesolová
Title: Complementary Health Insurance in France, the “Mutuelle” Institute and Its Terminology
Abstract: The aim of the paper is to characterise the system of social insurance in France and to show the role of combined social and health care insurance companies called “mutuelles” in the framework of compulsory complementary health insurance in France. Historical roots of this non-profit organisation based on a system of solidarity, participation in expenses and management are mentioned, a wide range of coverage of health care as well as the way of reimbursement of expenses for care provided for their members are described, and its future prospects are outlined. The paper tries to point out the differences in terminology and content as there are analogical institutions with a different role or only partial content equivalence besides specific legal institutions. This relates to different social traditions in the given communities during their development. The goal is to bring operation of French institutions closer to the Czech legal system.
Keywords: professional French, mutuelles, social insurance, health insurance, complementary insurance, legal terminology
Classification-JEL: B15, I13, K32, Z19
Pages: 69-77
Volume: 2016
Issue: 6
Year: 2016
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=546.pdf
File-URL: http://www.vse.cz/aop/546
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2016:y:2016:i:6:id:546:p:69-77
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Template-Type: ReDIF-Article 1.0
Author-Name: Iva Pecáková
Title: Pitfalls of Quantitative Surveys Online
Abstract: With the development of the Internet in the last two decades, its use in all phases of field survey is growing very quickly. Indeed, it reduces costs while allowing exploration of relatively large files and enables effective use of a variety of research tools. The academic research is more reserved towards developing online surveys. Demands on the quality of data are the main cause; Internet surveys do not meet them and thus do not allow drawing objective conclusion about the populations surveyed. Unqualified use of the Internet may significantly influence data and information obtained from their analysis. The problematic definition of the population that is under investigation may result in a fault of its coverage. Its existence can be shown, for example, on a confrontation of the total and Internet population of the Czech Republic, the total and Internet population of the Czech households, etc. Representation of the population through an online panel may cause bias, depending on how the panel is created. A relatively new source of error in an online survey is the existence of “professional” respondents. The sampling method from a population or an online panel can lead to the emergence of such a sample that is not representative and does not allow inference to the population at all, or only in a very limited way. Even probability sampling, however, can be problematic if it is affected by a higher rate of non-responses. The aim of this paper is to summarise the possible sources of bias associated with any sample survey, but also to draw attention to those that are relatively new and are associated with the implementation of just quantitative surveys online.
Keywords: quantitative survey, survey online, sample survey
Classification-JEL: C10, C18, C83
Pages: 3-15
Volume: 2016
Issue: 6
Year: 2016
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=560.pdf
File-URL: http://www.vse.cz/aop/560
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2016:y:2016:i:6:id:560:p:3-15
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/560

Template-Type: ReDIF-Article 1.0
Author-Name: Hana Vimrová
Title: The Significance of Reporting Employee Benefits in Accordance with IFRS in the Czech Business Practice
Abstract: The aim of the research the results of which are presented in this paper, based on an empirical survey of forty financial statements using IFRS by non-financial companies active in the Czech business environment, is to map the process and scope of reporting of employee benefits by Czech companies applying IFRS in the preparation of their consolidated and individual financial statements and to find out the differences in the extent, detail and relevancy of reporting employee benefits in accordance with IFRS among companies whose securities are publicly traded and other companies as well as to measure the differences in the scope, detail and relevancy of reporting employee benefits in accordance with IFRS among companies which are considered the best employers in the Czech Republic and other companies, including the interpretation of results.
Keywords: international financial reporting standards, IAS 19, employee benefits
Classification-JEL: M41
Pages: 38-55
Volume: 2016
Issue: 6
Year: 2016
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=561.pdf
File-URL: http://www.vse.cz/aop/561
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2016:y:2016:i:6:id:561:p:38-55
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/561

Template-Type: ReDIF-Article 1.0
Author-Name: Dagmar Brožová
Title: Forming the Modern Labour Market Economics: On the Role of Institutionalist Theories
Abstract: The growing role of institutions and their influence on the labour market outcomes, i.e., wage rates and labour allocation, has been among the most significant characteristic features of labour markets in recent decades. The labour market economics built its paradigm on the principles of marginalism, which brought suitable instruments for the analysis of market agents’ individual decisions capable of achieving effective solutions. Smith’s “invisible hand” has gradually been limited by institutional interventions - by governments, corporations and trade unions with government legislation, corporate personnel policies and collective bargaining. The expanding regulatory interventions in the labour market and the effort to explain the reality leads inevitably to the fact that the modern labour market economics incorporates more and more institutional theories. The contribution outlines the gradual invasion of neoinstitutional topics and theories into the neoclassical labour market paradigm and it analyses the differences between the neoclassical and institutional interpretation of labour market functioning. It presents the recent discussion on the consequences for the labour market economic theory and formulates a conclusion about the modified labour market economic paradigm.
Keywords: modern labour economics, neoclassical theory, neoinstitutional theory, dual market theory, theory of efficiency wages, labour market institutions
Classification-JEL: B10, J31, J41
Pages: 56-68
Volume: 2016
Issue: 6
Year: 2016
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=562.pdf
File-URL: http://www.vse.cz/aop/562
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2016:y:2016:i:6:id:562:p:56-68
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/562

Template-Type: ReDIF-Article 1.0
Author-Name: Pavel Sirůček
Title: Half-Forgotten Personalities of Economic Thought - M. Kalecki
Abstract: Michał Kalecki was an original Polish economist, who is ranked among unorthodox Marxists. He focused mainly on issues of macroeconomic dynamics. He created the dynamic theory of effective demand, in which he overtook the more familiar concept of J. M. Keynes. Kalecki influenced many diverse economists, including, e.g., the first generation of post-Keynesian economics.
Keywords: cycle theory, M. Kalecki, macroeconomic dynamics, theory of effective demand
Classification-JEL: D30, D43, E11, E20, E32, P21
Pages: 78-85
Volume: 2016
Issue: 6
Year: 2016
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=563.pdf
File-URL: http://www.vse.cz/aop/563
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2016:y:2016:i:6:id:563:p:78-85
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/563

Template-Type: ReDIF-Article 1.0
Author-Name: Jaroslav Daňhel
Title: Odborná a nezaujatá analýza významných aspektů nejradikálnější změny národního hospodářství od roku 1918
Pages: 86-90
Volume: 2016
Issue: 6
Year: 2016
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=564.pdf
File-URL: http://www.vse.cz/aop/564
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2016:y:2016:i:6:id:564:p:86-90