European Financial Systems

[Faculty of Economics and Administration]

European Financial Systems 2013

10th International Scientific Conference European Financial Systems was held in Telč, Czech Republic on June 10–11, 2013.

Conference Photos

Conference Proceedings are included in the Thomson Reuters Conference Proceedings Citation Index. You can cite conference papers directly from Web of Science.

Keynote speaker: doc. Ing. Zdeněk Tůma, CSc.
former Governor of the Czech National Bank, currently Head of Banking consulting at KPMG Czech Republic

Parallel sessions were held in seven sections:

Asset Pricing and Financial Modeling
Session Chair: Dr. Gábor Bóta (Budapest University of Technology and Economics)

  • Mihály Ormos, Dusán Timotity „Asset Pricing with Conditional Value at Risk“ (Budapest University of Technology and Economics)
  • Mihály Ormos, Dávid Zibriczky „Asset Pricing and Entropy“ (Budapest University of Technology and Economics)
  • Anna Sroczynska-Baron „The Choice of Portfolio Based on the Theory of Cooperative Games“ (University of Economics in Katowice)
  • Tomasz Wegrzyn „Stock Selection Based on Financial Ratios on the Warsaw Stock Exchange. Analysis between 2001 and 2010“ (University of Economics in Katowice)
  • Silvie Kafková „Credibility Theory“ (Masaryk University)
  • Ján Gogola „Value at Risk Estimation using a Monte Carlo Simulation“ (University of Pardubice)

Financial Crises and Crisis Management
Session Chair: doc. Ing. Mária Klimiková, PhD. (University of Economics in Bratislava)

  • Irena Szarowská „Can Tax Policy Co-cause the Crisis?“ (Silesian University in Opava)
  • Zuzana Torokova, Boris Šturc „Stress Testing in Relation to the Financial Crisis“ (University of Economics in Bratislava, Masaryk University)
  • Peter Árendáš, Božena Chovancová „Country Risk as a Phenomenon of the Current European Debt Crisis“ (University of Economics in Bratislava)
  • Vladimir Novotny „Financial Crises“ (University of Economics in Prague)
  • Mária Klimiková, Martin Vovk „Crisis Management of Banks in the Context of Financial Crisis“ (University of Economics in Bratislava)
  • Natalia Mokhova „Sovereign Debt and Corporate Capital Structure“ (Brno University of Technology)
  • Táňa Hajdíková, Lenka Komárková, Petr Pirožek „Financial and Operational Performance of Hospitals in the Czech Republic“ (University of Economics in Prague, Masaryk University)
  • Daniel Stavárek „Lessons Learned from the Recent Crisis in Cyprus“ (Silesian University in Opava)

Session Chair: Prof. Ing. Viktória Čejková, Ph.D. (School of Economics and Management in Public Administration in Bratislava)

  • Hana Bártová, Karel Hanzlík „System Solution of Uninsurable Risks with Focus on Floods in the Czech Republic“ (University of Economics, Prague)
  • Viktória Čejková, Svatopluk Nečas „Insurance of Risks of Small and Medium-sized Enterprises“ (School of Economics and Management in Public Administration in Bratislava, Masaryk University)
  • Eva Ducháčková „Resolving the Consequences of Work-related Injuries in the Conditions of the Czech Republic“ (University of Economics, Prague)
  • Lenka Přečková „Availability of Information about the Company Insurance against Natural Hazards on the Czech Insurance Market“ (Silesian University in Opava)
  • František Řezáč, Martin Řezáč „Outsourcing in Insurance“ (Masaryk University)
  • Eva Vávrová „Assessing the Progress of the Implementation of the Solvency II Regulation“ (Mendel University in Brno)
  • Pavla Kubová, Karina Mužáková „Polluter Pays Principle: National Savings in Environmental Damage“ (Technical University of Liberec)

Empirical Research in Financial Markets
Session Chair: Dr. Mihály Ormos (Budapest University of Technology and Economics)

  • Gábor Bóta, Mihály Ormos „Performance of Hungarian Mutual Funds and the Financial Crisis“ (Budapest University of Technology and Economics)
  • Veronika Kajurová, Jana Hvozdenská „Linkages between bonds and credit default swaps of financial institutions“ (Masaryk University)
  • Dagmar Linnertová, Martin Cupal, Oleg Deev „Investigation of factors affecting short interest in the Australian Stock Exchange“ (Masaryk University)
  • Oldřich Rejnuš, Kamil Smolík „Commodity Markets Financialization and its Impact on the World Economy“ (Masaryk University, Brno University of Technology)
  • Natália Žoldáková, Boris Šturc „Microeconomic Factors and Impaired Loans“ (University of Economics in Bratislava)
  • Luděk Benada, Juraj Hruška „Verification of a Linear Dependence between the Risk Premium and the Systematic Risk: Empirical Testing based on Data from PSE“ (Masaryk University)
  • Mokrička Peter „Influence of Volatility on Value of Modern Structured Products“ (Masaryk University)
  • Oleg Deev „Co-movements of Bank Stocks’ Prices as Signs of Interdependence and Contagion“ (Masaryk University)

Corporate Finance
Session Chair: Ing. Petr Valouch, Ph.D. (Masaryk University)

  • Grzegorz Michalski „Financial Consequences Linked with Investments in Current Assets: Polish Firms Case“ (Wroclaw University of Economics)
  • Martin Geško „Factors Influencing the Microeconomic and Fiscal Effects of the Reduced VAT on Books“ (University of Economics in Bratislava)
  • Hana Bohušová, Patrik Svoboda „Is the Asset-liability Approach a Significant Change to Revenue Recognition?“ (Mendel University in Brno)
  • Eva Hýblová, Zuzana Křížová, Jaroslav Sedláček „Mergers in Agricultural Companies“ (Masaryk University)
  • Tomáš Krabec, Romana Čižinská „Rate of Investments as a Parameter of the VIM Model for Appraising Trademarks of Unlisted Companies“ (Škoda Auto University)
  • Oleksandra Lemeshko „The fundamentals of Accounting for Business Combinations“ (Masaryk University)
  • Petr Valouch, Alois Konečný, Maria Králová „Influence of a Merger on the EBIT of Merged companies in the Czech Republic“ (Masaryk University)
  • Jarmil Vlach „Financial Cost and its Sorts
  • František Kalouda, Roman Vaníček „Alternative Bankruptcy Models – First Results“ (Masaryk University)

Economic Activity and Monetary Policy
Session Chair: Dr. Ewa Dziwok (University of Economics in Katowice)

  • Ewa Dziwok „Implied Forward Rates as a Source of Market Expectations – Implications for Monetary Policy in Poland“ (University of Economics in Katowice)
  • Jana Hvozdenská, Veronika Kajurová „The Yield Curve as a Predictor of Economic Activity – the Case of the Visegrad Group“ (Masaryk University)
  • Michal Plaček „Utilization of Benford´s Law by Testing Government Macroeconomics Data“ (SVŠE, Znojmo)
  • Elena Stavrova, Gancho Ganchev, Vladimir Tsenkov „Exploring the Relationship between Credit and GDP“ (South-West University „Neofit Rilski“)
  • Andrius Guzavicius, Vytas Barkauskas, Vidas Tamulis „Nowcasting Business Cycles using Transportation Index“ (Kaunas University of Technology)
  • Igor Hudák, Eva Kafková „The Calculation of the Output Gap in the Machinery Sector of the Slovak Republic“ (University of Economics in Bratislava)
  • Joanna Wyrobek, Zbigniew Stańczyk „Decoupling Hypothesis and the Financial Crisis“ (Cracow University of Economics)
  • Miroslav Sponer „Perspectives of the Monetary Development of EU“ (Masaryk University)
  • Stanislav Klazar, Alena Maaytová „Public Contracts in Czech Teaching Hospitals – Efficiency Issues“ (University of Economics, Prague)

Session Chair: prof. Ing. Eva Horvátová, CSc. (University of Economics in Bratislava)

  • Eva Horvátová „Analysis of the Problem of Pro-cyclicality in the Eurozone and Solutions of Pro-cyclicality in Basel III“ (University of Economics in Bratislava)
  • Jitka Veselá „Some Specifics in Valuing Bank Stocks“ (University of Economics, Prague)
  • Martin Boďa, Emília Zimková „Efficiency in the Slovak Banking Industry: a DEA Application of the Profit Approach“ (Matej Bel University in Banská Bystrica)
  • Jiří Dvořák, Martina Janková „Trends in Integration of the Electronic Banking“ (Masaryk University, Brno University of Technology)
  • Jan Krajíček „Cash Management and its Application in Practice“ (Masaryk University)
  • Miroslav Mareš, Jan Matoušek „Contemporary Crisis and Strategic Management of the Private Banking Sector in the Czech Republic“ (Masaryk University, Czech Banking Association)
  • Gabriela Oškrdalová „Analysis of Phishing in the E-banking Field and Protection Techniques against this Type of Fraud“ (Masaryk University)
  • Dalibor Pánek „A Single Supervisory Mechanism as a First Step to the Banking Union“ (Masaryk University)
  • Jaroslav Sedláček, Petr Valouch, Zuzana Křížová, Eva Hýblová, Alois Konečný „Restructuring of the Czech Banking Sector – Influence of Mergers on Selected Financial Indicators“ (Masaryk University)
  • Svoboda Martin, Sved Reuse „The Impacts of Basel III onto the European Baking Sector“ (Masaryk University, FOM University of Applied Science, Essen)
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