Vieroslava Holková, Alexandra Veselková - Teoreticko-praktické aspekty formovania kvality života z pohľadu spotreby (Theoretical and Practical Aspects of Forming Quality of Life in terms of Consumption)
Abstract: The significance and definition of quality of life have undergone some development, the content has changed according to how society and the living conditions in it have evolved. The aim of the paper is to point out how not only the way of looking at quality of life has changed but also its content. The paper offers an overview of the development of this concept and its application in practice from the second half of the 20th century to the present, it also discusses the role and importance of consumption for shaping the quality of life. The basis for examining the impact of consumption on the quality of life we chose the net money expenditures of our households, which are divided into three spheres. By analyzing the sphere of non-working time, free time and cross-sectional areas, we evaluate the existential aspect of life and offer a certain picture of the formation of quality of life in terms of changes in the consumption of Slovak households in 2016 and 2017.
Keywords: quality of life, domains of quality of life, definition of quality of life, satisfaction, needs, consumption
JEL Classification: D 10, D 12, D 19, I 31
str./pp. 237 - 254
Patrik Jankovič, Richard Kališ, Erika Stracová - Vyhodnotili sme priebežné výsledky testov našich študentov (We have just Analysed the Midterm Scores of our Students)
Abstract: In this paper, we examined midterm scores of our students. Results suggest that we were able to provide equal conditions in teaching, examining and assessing despite the fact that the seminar was taught by multiple teachers. While there is a significant difference in the scores of some groups, controlling their previous grades can explain some of the differences. Therefore, one can conclude that these can be explained by the different level of individual students, rather than by the level of teaching, examining or assessing. Based on our experience, we also propose a way to ensure equal conditions for all students.
Keywords: student score, education, test, regression
JEL Classification: I 21, C 13
str./pp. 255 - 263
Miroslava Knapková, Eva Hudecová - Zrušenie a zánik obchodnej spoločnosti v konkurze – vybrané súvislosti (Winding-up and Dissolution of Company in Bankruptcy – Selected Aspects)
Abstract: The aim of the paper is to clarify the basic terminology related to the termination of the business companies within the bankruptcy procedure. To understand particular terms, a brief definition from the legal acts is often not sufficient. We used legal literature, legal texts, including commentaries, explanations of laws, interpretative dictionaries, and available court decisions to elaborate complex overview of the basic terms of the bankruptcy of business companies. Our ambition was to capture only the present state, so we did not analyse historical context of the bankruptcy in Slovakia. Bankruptcy is a broad issue, and we only provide a basic overview of the terminology related to the termination of business companies as legal entities, with an emphasis on the possibility of their termination within the bankruptcy procedure.
Keywords: business companies, bankruptcy, termination of existence, insolvency, liquidation
JEL Classification: M 10, M 21, G 33
str./pp. 264 - 279
Mária Dzurová - Spotrebiteľ na finančnom trhu (Financial Market Consumption)
Abstract: The importance of financial literacy in the European environment is increasing. Financial markets are evolving and changing. The financial products offered are complex and consumers do not understand them. Often they can not choose the most advantageous offer from the structure of the products of the banking institutions. If problems arise, the cause is insufficient knowledge and financial literacy. It is very important for a person to be able to orient himself in a wide range of financial products.
Keywords: financial literacy, financial markets, financial products
JEL Classification: I 22, I 20
str./pp. 280 - 306
Lidiia Karpenko - Inovatívne dominanty v procese modelovania medzinárodných stratégií: matica konkurencie schopnosti podnikateľského subjektu (Innovative Dominants in the Process of Modelling International Strategies: Business Strength Matrix)
Abstract: This paper investigates the innovative dominants in the process modelling of international strategies in the coordinates of globalization changes and European integration. The conceptual bases for the development of strategic planning programmes in international business are examined in the paper. A number of economic and mathematical models for evaluating investment processes and justifying the development of international strategies, their variability and optimality are proposed. The application of new mechanisms of innovative development of the economy and its investment support is justified. Paper represents and analyzes the business strength matrixes in today’s business environment, such as: competitive strength matrix, Industry Attractiveness-Business Strength Matrix, and the Life Cycle- Competitive Strength Matrix. In the article there are the main research vectors in the process of modelling international strategies, innovative forms of investment, which are widely used: crowdfunding, crowdinvesting, and сrowdsourcing. Also in the article crypto currency is researched by the author, it is the subject form of strategy and innovative dominant of monetary policy. Theoretical and methodological bases of the research consist of the research of modern economic concepts of management, informatisation, and system theory. The objective of research consists in defining programmatic and methodological basic concepts for the analysis of innovation activity, systematization of analytic indicators of industrial enterprises.
Keywords: factor models, business strength matrix, competitive strength matrix, crowdfunding, crowdsourcing, crowdinvesting, investment, multi- business companies, crypto currency
JEL Classification: M 21, M 29, O 16
str./pp. 307 - 326
Meruert Serіk, Jaroslav Kultan, Nursaule Karelkhan - Vytvorenie digitálneho zdroja pomocou paralelného výpočtu (The Creation of the Digital Resource with the Aid of Parallel Computing)
Abstract: Nowadays, the development of cross-platform applications which work on the different digital platform is a highly attractive topic, which is rising in importance. Another main focus is with the help of parallel computing on the creation of digital resource, which work on the operating system of Windows, Android, IOS, Mac OS X, for the reduction of its loading time. Parallel computing systems are ubiquitous today. From laptops and mobile phones to global-scale compute infrastructures, parallel computing systems drive the world we live in. Although motivated by advances in hardware design, the many-core revolution has a profound impact on engineering software: Only software explicitly dedicated to parallel architectures can fully exploit today’s hardware potential and benefit from future gains in hardware performance. Only software engineers who are true experts in parallel computing systems can make an impact on future software (Clemens Grelck, 2018) [1]. In our case it is possible to reduce the initialisation time of the digital resource by using the parallel options of all cores of processors, which iscreatedinRadStudioXE7. Inthisarticle,themethodsandefficiencyofthe digital resource creation are demonstrated by using the parallel computing.
Keywords: education, parallel computing, digital resource, cross-platform
JEL Classification: C 8, I 23
str./pp. 327 - 337
Peter Leško - Exponenciálna ekonomika podporujúca udržateľný ekonomický rozvoj krajiny (The Exponential Economy Supporting Sustainable Economic Development of the Country)
Abstract: The quality and availability of technologies is multiplying every year, which means that they are changing very quickly from the interesting ideas to usable products or services. The aim of this paper is to clarify a relatively young concept of the Exponential Economy supporting the sustainable economic development of the country. Particularly, the technology-intensive sectors characterized by exponential technological growth are more responsible for an increasing share of productivity and overall economic growth. Empirical findings confirm that this is principally the case for the digital economy, the industry 4.0 concept, the strengthening of the space sector, as well as the increase in total consumption as a result of global population growth. These areas of the economy play a major role in the implementation of effective and inclusive digital transformation.
Keywords: Exponential Economy, Technological progress, Sustainable Development
JEL Classification: F 63, O 11, O 33
str./pp. 338 - 354
Daneš Brzica, Mária Kačírková - Mobilita talentovaných pracovníkov v podmienkach SR: analytický pohľad (Mobility of Talented Workers under Conditions of the Slovak Republic: Ananalytical Aspect)
Abstract: The paper deals with the issue of mobility of talented workers (talents) in the Slovak Republic. We look not only at qualitative aspects of mobility, but we also analyse the quantitative aspects of this phenomenon. Contrary to the past, it appears that two-way mobility can be of great importance for all participating countries. This is mainly due to the fact that the nature of work and knowledge, as well as the form of the current global economy, require some degree of mobility, and this process helps the learning process of individual actors. In the case of inflow of talents, effects for countries, cities, universities, research centres and businesses are higher, but in the case of outflow, long-term losses are much higher than for regular workers or students. Based on an analysis of our own surveys as well as statistical data, we conclude that the position of the Slovak Republic is unsatisfactory in this respect, and the concept of access needs to be changed to improve the situation.
Keywords: talents, mobility, knowledge society, knowledge transfer
JEL Classification: J 24, J 81, O 15
str./pp. 5 - 23
Ján Šebo, Daniela Danková, Ivan Králik - Redistribučné dôsledky zavedenia nefi nančne príspevkovo definovanej schémy a korekčného faktora v PAYG schéme v SR (Redistributional Impacts of Notional Defined Contribution Scheme and Correction Factor Implementation into the Pay-as-you-go Scheme in the Slovak Republic)
Abstract: Ongoing debates on the capping the retirement age in Slovakia have led to the analysis of alternative policies that would on one hand allow to limit the expected increase in the retirement age and at the same time would be able to tackle the rising retirement expenditures beyond the sustainable level. Experience with the notional defi ned contribution (NDC) schemes across various countries and recent trends in the implementation of automatic correction and balancing mechanisms into the public pay-as-you-go (PAYG) schemes has motivated us to examine the redistributional impacts under the conditions of Slovak PAYG scheme. Applying microsimulation model using stochastic moving block bootstraping techniques, we estimate the redistributional impacts of two selected polies. We have shown, that both policies will have direct negative impact on replacement ratios for all income cohorts. However, introduction of NDC scheme would lower the income solidarity and thus the income redistribution within the postproductive part of the population.
Keywords: Redistribution, Notional defi ned contribution scheme, Correction factor, Pay-as-you-go scheme, Microsimulation, Replacement ratio, Equivalence
JEL Classification: E 24, G 18, H 55, J 14
str./pp. 24 - 40
Ladislav Andrášik - Virtual Experimenting as a Tool for Trouble-Free Economic Analysis (Benefits of CI Assisted Simulations for Understanding Complexities in Economics) (Virtuálne experimentovanie ako nástroj bezproblémovej ekonomickej analýzy (Prínosy CI podporovaných simulácií na pochopenie zložitých problémov v ekonómii)
Abstract: Computational Intelligence (CI) assisted simulations in socio-economic reasoning bring several useful benefits in understanding complexities for scholars and students, too. Virtual experimenting in digital laboratories allows a wider approach to economic knowledge for students and everybody who should understand complex economic phenomena. For the purpose of illustrating economic contents, the author used an excellent paper by Italian scholars Chiarella, Dieci, Gardini on asset price dynamics. However, the author’s main goal is to show how ITC devices and theoretical informatics, computational intelligence, software engineering, and advanced cognitive sciences as new tools and approaches may help understand complex economic phenomena to wider economic community. He is convinced that such devices, methods and tools have promising future in terms of familiarising a wider community with economic knowledge.
Keywords: complex dynamics, genotype-map, global dynamics, heterogeneous agents, phenotype entity, qualitative theory, non-invertible maps, speculation, trouble freeing
JEL Classification: C 61, D 84, G 12
str./pp. 41 - 64
Helena Strážovská, Ľubomíra Strážovská, Anna Veszprémi Sirotková - Evaluation of Selected Issues of Business Environment by Family Business Entrepreneurs (Hodnotenie vybraných oblastí podnikateľského prostredia z pohľadu rodinných podnikov)
Abstract: Family business has a short history in Slovakia. Research is absent in its definition, which has not yet been found in the legislation of Slovakia. In the analyses, we focus on the primary research of family business entrepreneurs, because their opinions and comments give impetus to improve economic processes. In the text, we evaluate the original attitudes based on the results of our research in 2000 and the current views of family businesses obtained from the basis of our research conducted in 2018. The family business is characteristic of certain specific features and features that make them exceptional – that is, it includes some specific decision-making procedures, specific business management. The aim of the research was also to find out some of these specific features of family businesses.
Keywords: family business, economic processes, analysis of opinions
JEL Classification: O 5, L 26, L 53
str./pp. 65 - 79
Alena Bašová - Uplatnenie cenovej diskriminácie a vplyv liberalizácie v odvetví plynárenstva na Slovensku (Application of Price Discrimination and Influence of Gas Industries Liberalisation in Slovakia)
Abstract: The aim of the paper is to point out to the effects of the liberalization of the gas market in Slovakia between 2009 and 2015. In this article we analysed the time sequence of the creation of the European energy market. The aim ist to highlight market concentration declined as a result of the liberalization measures, and then positively put pressure on decline of the price. Despite the positive changes, the dominant gas supplier applied price discrimination. Price discrimination is applied in end prices for all customers, including households. The most widely used form is price discrimination of the second degree. According to the new methodology of pricing from 1. 1. 2017 households are divided into 8 tariff groups, which is more advantageous for consumers as regards the application of price discrimination than their division to the original 4 tariff groups.
Keywords: liberalization, Herfi ndahl-Hirschman Index, industry concentration, market share, price discrimination, monopoly
JEL Classification: L 0, O 12, P 3
str./pp. 80 - 101
Anna Schultzová, Jaroslava Šepeľová - Daňová povinnosť ako faktor finančného rizika podnikateľských subjektov (Tax Obligation as a Factor of Financial Risk of Corporate Entities)
Abstract: Nowadays, a lot of researches are focused on understanding the reasons why taxpayers do not pay taxes. Our article analyses the tax risk as part of the credit risk through using credit scoring models. The decision to manage the company’s financial situation also includes the entity’s ability to pay taxes. The paper answers the question whether tax debts are the result of a weak financial situation in enterprises or that of deliberate actions. On the basis of our results, it can be stated that the financial results of companies with tax debts and those without tax debts vary considerably.
Keywords: tax evasion, tax liability, tax compliance, credit risk, tax risk
JEL Classification: G 30, H 2, H 26
str./pp. 109 - 124
Alena Zubaľová, Matej Boór, Jana Kočkovičová - THE SIZE OF THE SHADOW ECONOMY AS AN INDICATOR OF TAX COLLECTION EFFICIENCY (Veľkosť tieňovej ekonomiky ako ukazovateľ efektívnosti výberu daní)
Abstract: The aim of the paper is to point out the relationship between the efficiency of tax collection (on the basis of the results obtained in the DEA analysis and other economic indicators) and the volume of the shadow economy, through regression analysis. The attention is paid to the effectiveness of tax collection from both sides – taxpayers and tax administrators. One of the requirements for an effective tax collection system is to minimise the associated costs, as well as to eliminate the tax evasion. Measuring the effectiveness of tax collection is relatively demanding. A wide range of opinions and attitudes to this issue published in recent years has shown that the issues of effective tax collection are more than just current.
Keywords: shadow economy, tax administration, collection of taxes, efficiency, DEA, panel regression analysis
JEL Classification: H 20, H 26, O 17, C 21
str./pp. 125 - 140
Božena Hrvoľová, Anna Polednáková, Lukáš Haruštiak - APPROACHES TO THE VALUATION OF MONEY MARKET PAPERS (Prístupy k oceňovaniu cenných papierov na peňažnom trhu)
Abstract: Money market securities are short-term debt securities, therefore they can only be valued using methods based on the present value of future cashflow and using simple discounting. Specific approaches to the valuation of these securities will depend on the form of their return-interest at maturity for deposit instruments such as certificates of deposit, or discount for treasury bills, commercial paper and promissory notes. To properly evaluate discount securities, such as treasury bills, one must also take into account the way these instruments are quoted on various markets – their rates (discount rate or rate of return) and day count convention used.
Keywords: certificates of deposit, treasury bills, intrinsic value, current market rate of return, holding period return, discount rate, rate of return, investment return
JEL Classification: C 52, E 44, G 12
str./pp. 141 - 157
Juraj Bronček - IDENTIFIKÁCIA EXPORTNÉHO POTENCIÁLU SLOVENSKEJ REPUBLIKY PRI OBCHODOVANÍ S ČÍNSKOU ĽUDOVOU REPUBLIKOU – RICARDOVSKÝ PRÍSTUP (Identification of the Export Potential of the Slovak Republic in Trade with the People’s Republic of China – A Ricardian Approach)
Abstract: What are the export niches of the Slovak Republic in the vast market of the People’s Republic of China? And how can we even measure it? This contribution attempted to design an index to identify products that represent untapped export potential in bilateral trade flows and apply it to the bilateral trade flows between these two markets. Most of the products that have been identified are parts of the mechanical engineering, chemistry, agriculture, woodworking, and metallurgical industries. Their cumulated export potential is $ 468,874,200 for the year 2017. As the biggest obstacle to the realization of this gap, the author regards the degree of sophistication of Slovak products as compared with West European competitors, the complicated transit links with China, and the preferential tariff agreements China has concluded with other, especially Asian countries, and which divert trade from European countries.
Keywords: export gap, export potential, Balassa index, bilateral trade
JEL Classification: E 10, F 10, F 14
str./pp. 158 - 178
Renata Śliwa - TOWARDS THE MATURITY OF ICT REGULATION – INTEGRATED REGULATION (K úrovni regulácie sektora ICT – integrovaná regulácia)
Abstract: The paper deals with the concept of integrated regulation of ICT sector, encompassing the evolution towards regulation led by economic and social policy goals. The integrated regulation or fully integrated policy approach has been recognized as the key to unlock the value of digital society. The correlations are portrayed on four identified within ICT Regulatory Tracker regulation areas and two subsectors of ICT treated as the most important for the development of ICT, that is, mobile-cellular and fixed broadband. The most visible strong positive correlation is between regulatory regime and fixed broadband subscriptions for all analyzed countries.
Keywords: regulation, integrated regulation, ICT Regulatory Tracker by ITU
JEL Classification: L 5, L 43
str./pp. 179 - 194
Martina Fehérová - HOW MENTAL ACCOUNTING, LOSS AVERSION AND COGNITIVE BIASES EXPLAIN HUMAN BEHAVIOR (Ako mentálne účtovníctvo, averzia k strate a kognitívna zaujatosť vysvetľujú ľudské správanie)
Abstract: Behavioral economics, which incorporates insights from other social sciences as psychology into standard economics, has been facing significant achievements and has generated interest beyond academia, among policy makers and the public. This article is dedicated to the contributions of Richard H. Thaler, to behavioral economics. By exploring the consequences of human limited rationality and self-control, Thaler defined numerous biases such as status quo bias, endowment effect, myopic loss aversion and established new models based on more psychologically realistic assumptions which have affected the development of behavioral economics in general.
Keywords: behavioral economics, biases, mental accounting, myopic loss aversion, R. H. Thaler
JEL Classification: B 2, D 9, G 4
str./pp. 195 - 205
Ján Lisý - K TEORETICKÉMU ODKAZU F. A. HAYEKA (Towards Theoretical Legacy of F. A. Hayek)
Abstract: F.A. Hayek belongs to the most distinguished representatives of the Austrian School of Economics, who was awarded the Nobel Prize for Economics in the year 1974. He is wellknown as a great supporter of liberalism and critic of the state regulation. Hayek worked out the most comprehensive monetary theory of economic cycle. He critised the government monopoly for issuing money and proposed to introduce the model of competing private money. He also critised the introduction of the common European currency and claimed that that kind of currency would be inferior to individual national currencies. These opinions have become the topic for discussion by both theoretical and practice–oriented economists.
Keywords: liberalizmus, peňažná teória ekonomického cyklu, centrálna banka, súkromné peniaze
JEL Classification: E 12, E 14
str./pp. 206 - 218
Jaroslav Husár - PODSTATA TEORETICKÉHO RIEŠENIA PROBLÉMOV EKONOMIKY SLOVENSKA DO ROKU 1968 (The Essence of Theoretical Problem Solving to Slovakia’s Economy up to the Year 1968)
Abstract: In this paper I describe the contribution of Slovak economists to the economic theory of socialism. In the period from 1960 up to 1970, several economic institutions in Czechoslovakia worked on the basic concepts of economic system operation, particularly as far as the regions are concerned. The classical system developed in the Soviet Union was in the phase of regression. Slovakia was considered to be a less developed part of Czechoslovakia. To get the right picture of economic performance, several original methods was developed. To solve the principal problem of our economy, a further breakdown of industries in I/O table by geographical region was necessary. A two-region I/O model was constructed that is analysed by the author of this paper. To measure the level of economic development by regions, we have modified the I-distance that provides a unique measure for a particular region. Both methods should be used in the EU.
Keywords: economic theory of socialism, attitude of Slovak economists, measuring of economic performance, two-regional model, I–distance
JEL Classification: B 30, B 41, C 02, C 21
str./pp. 219 - 232
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