Rudolf SIVÁK – Peter GOLHA - REGULÁCIA A RIADENIE RIZÍK V BANKÁCH V OBDOBÍ RASTÚCEJ KONKURENCIE Z MIMO BANKOVÉHO SEKTORA (Bank Regulation and Risk Management in the Period of Growing Competition from Outside of the Banking ector)
Abstract: The aim of this paper is to define main development trends in terms of the volume and structure of assets in the banking sector and in the sector of non-bank financial institutions (NBFI) in the last two decades. The first part of the article provides a definition of individual subsectors of the financial sector and their position in the financial system. The next section presents current trends in the volume and structure of assets in individual subsectors. The available data shows that over the last decade the volume of financial assets of NBFIs has grown dynamically worldwide. On the contrary, the growth dynamics of the banking sector's assets varied among individual economic entities. In the euro area and some other economies, the NBFI's market share has expanded significantly at the expense of the banking sector. One of the reasons for the dynamic expansion of the NBFI sector is the much lower degree of regulation compared to the banking sector. The last part of the paper is devoted to current innovations in the NBFI sector.
Keywords: financial system; financial monetary institutions; non-bank financial institutions; financial market regulation; financial intermediation.
JEL Classification: G10, G21, G23
Marián ČVIRIK - AKÉ JE POSTAVENIE IMIDŽU KRAJINY V KONCEPTE KRAJINY PÔVODU? SKÚMANIE V AUTOMOBILOVOM PRIEMYSLE (What is the Position of the Country's Image in the Concept of the Country of Origin? A Case of Automotive Industry)
Abstract: When respondent's decisions, the country of origin represent significant informative source. However, just a few experts devote with country of origin. Several sources agree that an important position in the concept of country of origin has an image. The main aim of this work is to clarify the importance of country image in the effect of the country of origin in the automotive industry. The study is based on a primary survey. A non-probability (convenience) sample of 277 respondents was used in the research to collect the empirical data. The one-way ANOVA (to confirm the hypotheses), correlation and linear regression analysis were used to explore the impact of image of country on country of origin concept in automotive. The results indicate a very strong connection of the country image which were found on basis of the Country Iimage Scale (CIS) and evaluation of the attractiveness of cars from selected countries. In future research, it would be advisable to examine the image of several countries and to assess the attractiveness in different regions, thereby shifting both theoretical and practical cognitive bases.
Keywords: Country of Origin, image, automotive, Country Image Scale.
JEL Classification: M31.
Silvia KOMARA - GARCH TYPE MODELS TO FIND LINKAGES BETWEEN STOCK RETURNS AND INTEREST RATE IN THE CZECH REPUBLIC (Modely typu Garch na vyhľadanie prepojení medzi návratnosťou akcií a úrokovou sadzbou v Českej republike)
Abstract: The accurate estimation and forecasting of volatility in financial market is a crucial issue and has been a popular subject of research. The aim of the paper is to analyze relationship between the Prague Stock Exchange Price Index of the Czech Republic (PX Index) and interest rate. For this purpose, we employ ordinary as well as asymmetric generalized autoregressive conditionally heteroskedastic (GARCH) methodology with explanatory variable. We assume positive relationship between these variables in terms of volatility. In other words, if the interest rate increases, volatility of PX Index returns should increase as well and vice versa. Our paper provides demonstration that there is a linkage between interest rate and PX Index and thus, that interest rate has explanatory power for PX Index and can help to improve the forecasts of this index.
Keywords: PX Index, interest rate, volatility, GARCH, asymmetry.
JEL Classification: C58
Jakub KINTLER – Katarína REMEŇOVÁ - EFFECTIVE USE OF THE PRICE DIFFERENTIATION STRATEGY IN PRICE MANAGEMENT (Efektívne použitie stratégie cenovej diferenciácie v manažmente cien)
Abstract: Price differentiation relates to a pricing tactic that gives a company an opportunity to charge different prices for the same product based on the customer segmentation. This statement is based on the following several assumptions: different customer value systems, information and other conditions imbalance, free trade, free movement of people and capital, etc. In this research article, we work with the assumption that in the inside environment of the company there has to be created the process that ensures reliable price management decisions by the proper set-up of price differentiation strategy and its tactics. This research paper aims to identify the relationship between effective implementation of price differentiation strategy and other organizational parameters concerning price management. The Chi-Square Test of the Independence, and the coefficients for determining the association among nominal variables were Cramer’s V and the Phi coefficient. Eta coefficient was applied to measure the strength of relationship between the nominal and the interval variables. Results of non-parametric testing indicate that there is statistically significant dependence between the effective use of price differentiation strategy and price management techniques.
Keywords: Price differentiation, price strategy, value, pricing metrics, levels of price differentiation
JEL Classification: L1, M21, M31
Peter JANČOVIČ - ROZVOJOVÁ SPOLUPRÁCA EURÓPSKEJ ÚNIE S LATINSKOU AMERIKOU A KARIBIKOM (Development Assistance of the European Union to Latin America and the Caribbean)
Abstract: The aim of this article is to identify main directions of the European Union’s development policy implemented towards Latin America and the Caribbean and to delimit trends of development assistance provided by the EU. The EU represents the most important partner for development in Latin America and the Caribbean. With regard to relatively high levels of income in most of Latin American and Caribbean countries, the official development assistance does not play a role of crucial source of external funding in the region. Nowadays, development assistance acts as a mediator or an instrument of mobilization of domestic as well as other external sources of financing for economic development. In conclusion, the EU’s development assistance still has its relevance to Latin America and the Caribbean. It helps to overcome the specific regional problems, achieve sustainable development goals and ensure inclusive socioeconomic growth. Development aid is more and more promoted by alternative ways such as policy dialogue, trilateral assistance, blending, trade liberalization or increasing investment activity in the region, rather than providing official development assistance.
Keywords: EU, Latin America and the Caribbean, development aid.
JEL Classification: F35, F63
Tatiana HRIVÍKOVÁ - CONSEQUENCES OF GENDER CONCEPTUALISATIONS IN CULTURAL CONTEXT (Dôsledky rodových konceptualizácií v kontexte kultúry)
Abstract: The paper deals with the issue of gender in/equality and its causes from a cultural perspective. It describes the cultural background of gender differentiation (gender ideology) and defines the key terms based on the relevant documents of global and European institutions. The author identifies and characterises the most important areas of gender inequality that may have detrimental consequences for the economic prosperity of people. The examination of data extracted from the Global Gender Inequality Index Report 2020 provides information about the overall situation in each EU member state concerning gender in/equality and in four sub-areas: Economic Participation and Opportunities, Educational Attainment, Health and Survival, and Political Empowerment. The scores and rankings of the member states are compared and crosschecked with Hofstede’s cultural dimension of Masculinity/Femininity and eventually, based on the collected information, the conclusions are drawn.
Keywords: gender, culture, gender stratification, gender in/equality, gender inequality index.
JEL Classification: A12, A13, A19
Jozef LUKÁČ – Jana SIMONIDESOVÁ - TAX ASPECTS OF INTERNATIONAL TRANSACTIONS AND INTERNATIONAL TAX EVASION (Daňové aspekty medzinárodných transakcií a medzinárodných daňových únikov)
Abstract: In the current period, most EU countries are trying to significantly consolidate public finances. Increasing attention is focused on public revenue dedicated to efficient tax collection and tax evasion. In these times of high capital mobility, states have to face the possibility of outflows of capital abroad and act as competitors to each other in terms of attracting investment from abroad. Some countries try to attract foreign investors by offering them little or no tax burden. These situations are the subject of tax evasion investigations and the possibilities of reducing such tax evasion in direct and indirect taxes are also being investigated to a large extent. If they are reduced, higher tax revenues can be achieved without the need to raise tax rates. Tax administration includes the institutions directly responsible for collecting taxes in the state, and it is clear that the proper functioning of these authorities can have a significant impact on the extent of tax evasion. It is this issue that is addressed in this paper.
Keywords: international transactions, tax, tax evasion, VAT gap, Slovakia.
JEL Classification: H21, H25, H26
Husna Leila YUSRAN - Asep HERMAWAN - Iwan EKAWANTO - Consumer Intention and Behaviour Towards the Use of Non-Plastic Shopping Bags in Jakarta: Preliminary Study (Spotrebiteľský zámer a správanie vo vzťahu k používaniu ekologických nákupných tašiek v Jakarte: vstupná štúdia)
Abstract: Purpose – The objective of this study is to investigate the antecedents and consequences of attitude towards the use of non-plastic bags. Design/methodology/approach – We proposed hypotheses to examine relationships of environmental concern, green attitude, green perceived value, social pressure and support of banning the plastic bags on the intention and behaviour to use non-plastic shopping bags. Survey data was collected from 120 consumers of supermarkets in Jakarta. Structural equation modelling was used to test hypotheses. Findings – The attitude followed by social pressure and environmental concern revealed the strongest effect on intention of using non-plastic bags. Consequently, intention to use non-plastic shopping bags had also a strong effect on behaviour of using non-plastic shopping bags. Practical implications – This study will provide information on factors that influence and affect consumer’s behavioural intentions and behaviour to use non-plastic shopping bags. Limitations – Since consumers may have the different characteristics, it is likely that consumers’ attitude and behaviour will be different based on the characteristics. Originality/value – Little research has been done on understanding consumer attitudes and behaviour towards the use of non-plastic bags in Indonesia.
Keywords: Environmental concern, environmental, green attitude, green value, behavioral intentions,using non-plastic shopping bags.
JEL Classification: M31
str./pp. 5 - 18
Ladislav ANDRÁŠIK - On Virtual Complex Network of Economy Created in Stella Critical Discussion of Parallels with Neoclassical Theory of economic growth (O virtuálnej komplexnej sieti ekonomiky vytvorenej softvérom Stella: kritická diskusia v paralelách s neoklasickou teóriou hospodárskeho rastu
Abstract: The orthodox economic science is evolving into contemporary form of mainstream economics based on imaginations that economies are similar entities as mechanical ones (in today’s terms called – systems). However, in objective reality the economy is a complexly evolving social organism building oneself as complex network. Unfortunately, by contrast to mechanical system, the economy as a whole is not directly observable and susceptible to manipulation. Certain intervention into the economy in objective reality frequently is bringing unexpected results, because it is complexly answering social organism not mechanical mathematically processing able entity. There exist thanks to ICT and computational intelligence devices and tools possibilities to directly observe the result of evolution in virtual economy, more or less affected by interventions of its constructor. In this essay we are trying to imitate an economy in objective reality by virtual economy built in software STELLA as not very complex network. However, network approach is a relatively novel subject in economic theorizing, and there are several ─ different ways of understanding them. The main stress in this essay is laid on specific properties of holistic economic network in computer reality, which needs to be understood as common mathematical theory of complex networks, theories of neural networks, percolation theories and it is differing from applied economics of real networks in economies existing in the form of traffic, pipelines, etc.
Keywords: computational economy, complex network/systems, computational experimentations, mainstream economics, ontological/ methodological mistakes.
JEL Classification: B4, C6, C53, C62, C69, C7, C90, D4, D5, D58, D6, D8, G12, L1.
str./pp. 19 - 41
Adriana KRUPOVÁ - Zabezpečovanie kvality vysokoškolského vzdelávania v SR – ako ju dosiahnuť? (Quality Assurance of Higher Education in the Slovak Republic - How to Achieve It?)
Abstract: By adopting the new legislation of Act no. 269/2018 Coll. on Quality Assurance in Higher Education, the reform of higher education in Slovakia has taken on a new, real form. While the previous changes in the transformation of higher education were mainly focused on the economic area, the new legislation extends the competences of higher education institutions in the area of organization and management and establishes the principle of primary responsibility of the university for quality. The constant discussions on “what is the quality of higher edu- cation institutions in its essence“ and what are the possibilities of ensu- ring it raise the question of how to apply a quality management system within the scope of the above-mentioned legal norms. Following the definition of quality in higher education, and building on the basis of a systematic study of the implementation of the Bologna Declaration ele- ments, this contribution provides an insight into the essence of quality assurance in higher education. At the same time, it pays attention to the fact that, when applying a quality management system, it is necessary to focus the activities of higher education management consciously on two equal areas, namely content and process. The aim of this paper is to emphasize the quality of education as one of the three functions of a higher education institution, pointing out the need to manage the quality of all university functions, and in particular to inform about the need to implement an internal quality assurance and verification system in terms of two equal areas – content and process (procedural).
Keywords: quality, self-assessment, quality assurance, internal system of quality.
JEL Classification: I20, I28, D78
str./pp. 42 - 55
Erika MAJZLÍKOVÁ - Structural Decomposition Analysis of Changes in Manufacturing Employment in Slovakia (Štruktúrna dekompozícia zmien v zamestnanosti v spracovateľskom priemysle na Slovensku)
Abstract: The paper deals with the structural decomposition of changes in the overall manufacturing employment in Slovakia. In recent years, we have observed a trend of deindustrialisation that is visible considering the direct but also the indirect employment or value added in manufacturing in many economies. Therefore, the aim is to recognize which factors and to what extent contributed to the changes in manufacturing employment growth index between different time periods. Attention will be focused mainly on the development in manufacturing employment in Slovakia from 1995 to 2014. In contrast to some recent studies, we provide a decomposition which truly accounts for the total employment in manufacturing, i.e. direct and indirect. Moreover, we provide our analysis using both current and constant prices.
Keywords: manufacturing, employment, input-output analysis, structural decomposition analysis, industrial policy.
JEL Classification: C67, L60, O14
str./pp. 56 - 69
Martina FEHÉROVÁ - Donating to Others Under Different Limits of Donation (Darovanie iným za rozličných podmienok týkajúcich sa darcovstva)
Abstract: Altruism is a moral principle that results in selfless helping to other people in order to give up resources which will benefit others. But what are the limits of human altruism? Is human altruism affected by the costs of donation? We use laboratory experiment to examine how increasing costs of giving affect willingness to help others. Furthermore,we test whether relations and cooperation in the group affect subject’s altruistic behaviour. The paper demonstrates, that as the cooperation in the group rises, so does the subjects’ willingness to donate. Moreover, the increasing costs of donation have almost no effect on the generosity of the subjects.
Keywords: altruism; experimental economics; costs of donation; limitations of donation; cooperation; in-group relations
JEL Classification: D91, C91, C92
str./pp. 70 - 82
Monika KOCHAJDOVÁ - Geopolitické postavenie Ruska po udalostiach na Ukrajine v roku 2014 (Geopolitical Position of Russia after the Events in Ukraine in 2014)
Abstract: Events in Ukraine in year 2014 significantly contributed to changes in several countries of the world. The subject of the research is to assess the impact of these events on the change of Russia's geopolitical position as their initiator. By comparative analyzing the situation through selected regions and countries, we will get partial conclusions about the regional position of Russia. The result of this research should be a combination of partial conclusions, which lately combined, provide us with a comprehensive picture of the researched problem. The geopolitical position of countries is changing, and that is why this article's task is to record current changes to contribute to hypotheses about their future direction.
Keywords: geopolitical position, Russia, Ukraine, events in year 2014
JEL Classification: N40, F51, F53
str./pp. 83 - 101
František KRIŽAN – Katarína ČULÁKOVÁ – Pavol KITA – Kristína BILKOVÁ – Peter BARLÍK – Petra HENCELOVÁ - Consumers Perceptions on SMS Marketing: Case Study from a Gift Shop in Hlohovec (PERCEPCIE SPOTREBITEĽOV NA SMS MARKETING: PRÍPADOVÁ ŠTÚDIA Z DARČEKOVEJ PREDAJNE V HLOHOVCI)
Abstract: The paper is focused on SMS marketing and consumer perceptions towards SMS advertising. This is a case study of a gift shop in the shopping center Viktoria in Hlohovec city. A promotional SMS was sent to potential consumers (n = 5,229) with a sleeping location in Hlohovec city. Based on this, consumers had an opportunity to get a discount when buying. The questionnaire survey (n = 42) was conducted in aforementioned gift shop and was focused on consumer perceptions. Research shows positive consumers perceptions for received SMS. When evaluating consumers perceptions to received SMS, classified according to their income, it seems that perceptions for lower-income consumers (up to 750 €) are not identical to higher-income consumers (750 € or more). SMS marketing has a positive impact on sales growth and prospective advertising influence on the company marketing development.
Keywords: SMS marketing, consumer perception, shopping center, Hlohovec
JEL Classification: M31, O31
Anita ROMANOVÁ ─ Natália ŠVEJDOVÁ - Use of Information-communication Technologies in Healthcare with a Focus on Information Security (VYUŽITIE INFORMAČNO-KOMUNIKAČNÝCH TECHNOLÓGIÍ V ZDRAVOTNEJ STAROSTLIVOSTI SO ZAMERANÍM NA OBLASŤ INFORMAČNEJ BEZPEČNOSTI)
Abstract: Information and communication technologies play an irreplaceable role in the economies of the 21st century and have also had a significant impact on the health sector. As part of the informatisation of society, e-health is not only able to achieve a significantly higher level of healthcare, but also speeds up processes and, last but not least, cuts costs that are particularly important in healthcare organizations. The aim of the paper is to use the analysis to evaluate the state and level of ICT security in Slovak hospitals as the largest providers of health care in the Slovak Republic. The article analyzes the potential and infrastructure of ICT in health conditions as well as security in this area. The second part of the paper deals with the analysis of research in the field of ICT security in Slovak hospitals and evaluates the conclusions of this questionnaire survey.
Keywords: informatization of health care, ehealth, ICT security, hospital, questionnaire survey
JEL Classification: L86, D83, I19
Michaela ČIEFOVÁ - Interkultúrne vzdelávanie ako prostriedok integrácie migrantov (INTERCULTURAL EDUCATION AS A TOOL FOR MIGRANTS´ INTEGRATION)
Abstract: The paper aims to point out the significance of intercultural communication and competence in the time of perceived migration and asylum crisis. We argue, familiarization with the principles of intercultural communication may be viewed as a crucial step towards successful migrants´ integration. In the first part of the paper we illuminate the concept of intercultural communication and competence. Next, we discuss the experience of the European Union Member States with intercultural education, frequently understood as certain principles or a cross-cutting theme embedded in the general education process. In some countries, inconsistency between the objectives of education policies and the praxis has been reported. Our research indicates certain deficiency of concrete learning units focusing on intercultural communication and competence development in the European Union countries.
Keywords: migration, integration, intercultural education, intercultural competence, intercultural communication
JEL Classification: F22, I21, Z18
Martin KUCHTA ─ Monika STANKOVÁ - Vnímanie digitálneho marketingu: Umenie alebo veda? (PERCEPTION OF DIGITAL MARKETING: ART OR SCIENCE?)
Abstract: Marketing as a discipline has evolved to a current stage through five eras which cover more than one hundred years. During the years ICT and technologies have rapidly improved and marketing as a very dynamic discipline has successfully adapted most of them at least in some form. While marketing without modern ICT could have been perceived as an art, advanced technologies might shift the perception more to a science. The internet as already a well- established environment for modern marketing strategies offers data collection and procession, which in almost every case triggers marketing strategy decision-making process. The main aim of this article is to identify, whether digital marketers, who are the most affected subject by the rise of advanced technologies, perceive the marketing discipline more as an art or as a science. Quantitative research in form of online interviewing was used as the main research method. The results of the research offers digital marketers’ point of view of the researched issue and suggests, whether modern marketing is more art or science.
Keywords: digital marketing, data collection, creativity
JEL Classification: M15, M31, M37
Martin KARAS - Najnovšie trendy v uzatváraní medzinárodných investičných zmlúv: Čína a Spojené Štáty Americké (LATEST DEVELOPMENTS IN INVESTMENT TREATY-MAKING: CASES OF CHINA AND THE UNITED STATES)
Abstract: Are the nation states losing their position as the main actors in the global arena? Are they being supplanted by international institutions, regimes and transnational corporations? This article focuses on these questions within the specific framework of international investment regimes. The goal of this article is to identify the most recent trends in investment treaty-making of China and the US in relation to the conflict between investment protection and state sovereignty. The article compares a sample of treaties from both countries from two different eras and identifies the main changes that have a bearing on the influence of states, investors and international tribunals in the area of foreign investment. The conclusion of the analyses consists of demonstrating conflicting tendencies, where since 1990s, the US has moved slightly towards protection of state sovereignty, while China has moved away from its position of strict sovereignty protection towards a more standard investment protection based on the international consensus.
Keywords: sovereignty, investment protection, state, investment regimes, investment arbitration, USA, China
JEL Classification: K33, F21
Michal BEČKA - The Impact of the Current Global Pandemic of SARS-CoV-2 on Employment in the Slovak Economy (VPLYV SÚČASNEJ GLOBÁLNEJ PANDÉMIE SARS-CoV-2 NA ZAMESTNANOSŤ V EKONOMIKE SLOVENSKEJ REPUBLIKY)
Abstract: In this article, we present a view of the current global pandemic of SARS-CoV-2 and its impact on employment in the economy of the Slovak Republic. The primary goal is to present the development of employment and unemployment in the economy in Slovakia for the analysed period of 2018 – April 2020 with emphasis on the current global pandemic. The partial objectives of the paper are: to present the outputs of the elementary characteristics of the time series – employment, to present the outputs – the unemployment rate.
Keywords: Macroeconomic Indicator, Employment, Unemployment, Unemployment Rate, Time Series Analysis, Global Pandemic – SARS-CoV-2
JEL Classification: E24, C22, J21, J64
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