Template-Type: ReDIF-Article 1.0
Author-Name: Marek Jošt
Title: The Development of Legislation of Political Parties and Political Movements in the Czech Republic since 1991 until now with a Focus on Transparency
Abstract: The article analyzes the development of the political parties and political movement´s legislation, which operating in the Czech Republic since 1991 until now with a focus on selected transparency criteria. The act on association in political parties and political movements of the year 1991 is analyzed, which was more than twenty times changed during its existence. Transparency is significantly affected by some changes in law. The article compares the legislation of political parties and political movements with the legislation of other non-profit organizations in the area, which is concerned with the transparency criteria. From a comparison differences result on a level of transparency - the legislation of political parties and political movements is probably the strictest and the most sophisticated in comparison with legislation of other non-profit organizations. This is due to the function of these organizations they have in today´s society.
Keywords: Transparency, Transparentnost, Political party, Political movement, Politická strana, Politické hnutí
Classification-JEL: K15, M41, M42
Pages: 5-26
Volume: 2018
Issue: 3
Year: 2018
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=514.pdf
File-URL: http://www.vse.cz/cfuc/514
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2018:y:2018:i:3:id:514:p:5-26
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/514

Template-Type: ReDIF-Article 1.0
Author-Name: Miloslav Janhuba
Author-Name: Jaroslava Janhubová
Title: Theoretical approaches to the presentation of expenses in the income statement
Abstract: This paper highlights the essence of ensuring revenue and expenses comparability in the income statement, with an emphasis on their factual dimension. The problem relates mainly to the presentation of costs type composition when they are necessarily adjusted for changes in the inventory of own production. The image of the cost type composition in the existence of an aggregate item “change in inventory” is somewhat deviating from the actual range of cost types that are related to the outputs sold. Correction would be possible using input-output structural model approaches centered on the valuation problem. Appropriate application requires close synergy between financial and managerial accounting, and the detection of some of the non-accounting variables.
Keywords: Revenue, Income, Výnosy, Expenses, Costs, Cost type, Structural cost model, Výsledek hospodaření; ; ; ;, Náklady výkonů, Výsledkové náklady, Nákladový druh, Strukturní nákladový model
Classification-JEL: M41
Pages: 27-40
Volume: 2018
Issue: 3
Year: 2018
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=515.pdf
File-URL: http://www.vse.cz/cfuc/515
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2018:y:2018:i:3:id:515:p:27-40
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/515

Template-Type: ReDIF-Article 1.0
Author-Name: Michal Kováč
Title: Comparison of stress testing models for regulatory purposes by institutions using the IRBA method
Abstract: This paper deals with the comparison of stress tests of institutions using the IRBA method for determining the capital requirement. Different approaches have been used to determine the values of risk parameters PD, EAD and LGD for stres test purpose. Besides the VEC model, which link risk parameters to selected macroeconomic variables, stress tests were constructed using the absolute values model, the relative change model and the VaR model, CVaR respectively. Individual approaches have been tested and compared in two levels. In the first level was stressed only the risk parameter PD, in the second level, all risk parameters were stressed. Empirical analysis on the retail portfolio of retail clients in the Czech Republic during 2005 - 2017 showed some significant differences in the value of capital among some approaches. It has also been demonstrated that by using the appropriate method for stressing only the PD parameter, the same value of capital can be achieved as in the case of stressing all risk parameters simulating the conditions required by the Basel Committee.
Keywords: Retail clients, Retail klientela, Stress test, VECM, Stres test, VECM, VaR, Historical simulation, VaR, Historické simulace
Classification-JEL: C53, G28, G32
Pages: 41-56
Volume: 2018
Issue: 3
Year: 2018
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=516.pdf
File-URL: http://www.vse.cz/cfuc/516
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2018:y:2018:i:3:id:516:p:41-56
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/516

Template-Type: ReDIF-Article 1.0
Author-Name: Anton Vaskovskyi
Title: Genesis of behavioral economics and its applicability in public finance
Abstract: The article is focused on genesis of behavioral economics and its applicability within public finance. Behavioral economics is being recently very popular and recognised by academic community as Nobel Prize was awarded to its promoters twice in current millennium. The document is divided in three parts, where one is devoted to overview of the theory, second contains recent trends in described theory and the last one presents case studies from United Kingdom and Poland. The theoretical part describes the basic concepts and theories in relation within historical context. The second part analyses applicability of such theory in public finance and current trends and finally, third chapter contains case studies, where the presented theory is applied in practice with remarkable results.
Keywords: Behavioral finance, Behaviorální finance, Prospect Theory, Behavioral economics, Nudge, Public finance, Behaviorální ekonomie, Prospektová teorie, Nudge, Veřejné finance
Classification-JEL: D91, G41, H26
Pages: 57-77
Volume: 2018
Issue: 3
Year: 2018
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=517.pdf
File-URL: http://www.vse.cz/cfuc/517
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2018:y:2018:i:3:id:517:p:57-77
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/517

Template-Type: ReDIF-Article 1.0
Author-Name: Petr Musílek
Title: Regulation and supervision of distribution of financial products
Abstract: This paper discusses the issue of regulation and supervision of the distribution of financial products, launched by the article by Sindelar and Erben (2017). The introductory part of the article focuses on the essential conclusions from the above article. In addition, attention is paid to deepening the analysis of regulatory objectives, especially in the area of information asymmetry. The so-called complex concept of regulation is questioned in the following part of the paper. The final part of the paper analyzes the detailed context of pension reform in form II. pillar and its impact on III. pillar of the pension system in the Czech Republic.
Keywords: Pension funds, Penzijní fondy, Financial market, Finanční trh, Regulation and supervision, Regulace a dohled, Pension reform, Financial products, Důchodová reforma, Finanční produkty
Classification-JEL: G20
Pages: 79-88
Volume: 2018
Issue: 3
Year: 2018
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=518.pdf
File-URL: http://www.vse.cz/cfuc/518
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2018:y:2018:i:3:id:518:p:79-88
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/518