Template-Type: ReDIF-Article 1.0 Author-Name: Adéla Stollinová Title: Price of Non-proportional Reinsurance based on Experience Rating Abstract: Submitted article is aimed at topic of reinsurance. Currently, reinsurance is an essential part of insurance products business. Regarding to the fact that reinsurance could have different forms and each form has specific features, it is needed to concentrate on individual forms. The article has a goal to get closer and outline non-proportional type of reinsurance and analyze the pricing process in non-proportional reinsurance. Particular subject of analysis is determination of price of excess of loss reinsurance based on Experience Rating method using Burning Cost and Probabilistic Rating models. Thereafter, different calculation approaches are compared between each other and the article is analyzing difficulties arising out of mathematical methods, which are based on historical data and then statistically induced into the prediction of future development of the reinsurance cover Keywords: Non-proportional reinsurance, Burning cost, Experience rating, Neproporcionální zajištění, Burning cost, Experience rating Classification-JEL: G22 Pages: 5-22 Volume: 2017 Issue: 2 Year: 2017 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=494.pdf File-URL: http://www.vse.cz/cfuc/494 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2017:y:2017:i:2:id:494:p:5-22 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/494 Template-Type: ReDIF-Article 1.0 Author-Name: Jitka Veselá Author-Name: Martin Chalupa Title: Is it an investment in hedge funds actually linked to a higher rate of return and risk compared to alternative investments? Abstract: This article focuses on the hedge fund industry, its specifics and impact on the financial system and, in particular on the rate of return, risk and performance produced by the sector. The rate of return, risk and performance of the hedge funds and other asset classes were derived from monthly returns, standard deviation and Sharpe ratios. The time periods 1997-2016 and 2000-2016 were considered. The hedge fund industry, compared to the stock market, the gold market, and the overall commodity market, brought a significantly higher return at a lower risk in the considered period. In the past years, as the two-dimensionally most powerful hedge funds in the short and long term appeared to be smaller funds managing assets up to 100 million USD, and in the medium term the largest funds managing assets over 1 billion USD. From the point of view of geographic asset allocation, the highest two-dimensional performance was shown by funds allocating their assets to North American markets. Keywords: Výnosnost, Risk, Riziko, Hedge fund, Rate of return, Sharpe ratio, Eurekahedge index, Hedgeový fond, Sharpe ratio, Eurakahedge index Classification-JEL: G10, G11 Pages: 23-45 Volume: 2017 Issue: 2 Year: 2017 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=495.pdf File-URL: http://www.vse.cz/cfuc/495 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2017:y:2017:i:2:id:495:p:23-45 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/495 Template-Type: ReDIF-Article 1.0 Author-Name: Jakub Cibulka Title: An analysis of the development of credit unions in modern Czech history with an emphasis on regulatory changes Abstract: This paper deals with developments in the sector of credit unions in the Czech Republic. The first part of the paper describes the history of the sector and the factors that influence it. The second part deals with the development of credit unions in recent years. The indicators of financial analysis describe the development of the sector and show the influence of individual events, e.g. withdrawal of authorization to operate as a credit union or transformation to the bank. Major emphasis is devoted to the amendment to Act No. 87/1995 Coll., which regulated the obligations of members of credit unions and imposed their greater participation in the credit union itself. In the paper, there is also described an effect of low interest rates on the development of profitability and return on equity. At the end of the paper there is prediction of future development regarding the changes of the regulation and market environment. Keywords: Regulation, Regulace, Credit unions, Banking sector, Financial sector development, Regulation impact, Družstevní záložny, Bankovní sektor, Vývoj finančního sektoru, Studie dopadů regulace Classification-JEL: G210, G280, K220 Pages: 47-69 Volume: 2017 Issue: 2 Year: 2017 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=496.pdf File-URL: http://www.vse.cz/cfuc/496 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2017:y:2017:i:2:id:496:p:47-69 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/496 Template-Type: ReDIF-Article 1.0 Author-Name: Jana Singerová Title: Potential risks during ERP implementation: view from the perspective of accounting Abstract: The article outlines the risks associated with the implementation of the new information system in the company. The core of the article is the analysis of risk factors in the various phases of ERP system life from the point of view of accounting and its basic functions, ensuring a fair and true view of accounting in the financial statements. Analysis has been made based on secondary date and its application to the accounting needs. Many implementations end with exceeded budget, time schedule or both. Main risks are identified in the chapter 3. From the perspective of accounting, the riskiest phases are system selection, implementation and production system, and the bottlenecks are migration of transaction and master data, decision on setting the correct date for transition to the new system, and ensuring the balance sheet continuity of accounting books in both systems. Accounting risks are also relating to non-compliance with the tax obligations and penalties and fines resulting therefrom. Minimizing these risks helps identify key success factors for each phase. Keywords: IFRS, Accounting, Účetnictví, IFRS, ERP system, Implementation, Risk factor during implementation, ERP systém, Implementace, Rizikové faktory při implementaci Classification-JEL: M15, M41 Pages: 71-88 Volume: 2017 Issue: 2 Year: 2017 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=497.pdf File-URL: http://www.vse.cz/cfuc/497 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2017:y:2017:i:2:id:497:p:71-88 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/497