Veronika Mitková - the CGE Models Parameters Estimations Techniques (Techniky odhadov parametrov CGE modelov)
Abstract: The paper presents four different techniques of the computable general equilibrium model parameters estimations: calibration, an econometric approach, a maximum entropy approach, and the Bayesian cross-entropy approach. Each method is shortly introduced, and the advantages and disadvantages of each of them are discussed. It is shown that it is possible to work on with the CGE models in situations with scarce or noisy data, which is the case of developing countries.
Keywords: computable general equilibrium model, calibration, econometric estimation
JEL: C 68, C 82
str./pp. 9-18
Katarína Podmajerská - The impact of the global financial crisis on the selected stock markets (Vplyv globálnej finančnej krízy na vybrané trhy cenných papierov)
Abstract: This paper deals with the global financial crisis and stock markets, in particular with the impact of the global financial crisis on the selected stock markets and relation between the global financial crisis and the stock markets. It briefly examines what transformed a significant, but a relatively mild financial disruption into a full-fledged global financial crisis. The global financial crisis was triggered not in stock markets but by bonds, debt not equity securities. The paper investigates how this influence was reflected in the stock markets. This paper works with the selected stock markets (with American, European and Asian stock markets) and selected indices Dow Jones Industrial Average (American stock market), Financial Times Stock Exchange 100 (European stock market) and Nikkei Stock Average (Japan stock market). To determine the extent of the global financial crisis and its impact on the stock markets is used its comparison in time. The paper investigates the development of selected indices over years 2000 – 2015.
Keywords: financial crisis, stock market, DJIA
JEL: E 44, G 01, G19
str./pp. 19-30
Anita Gaile – Erika Šumilo - THE GLOBAL PERSPECTIVE OF EMPLOYMENT RELATIONS DEVELOPMENT: ORGANISATIONAL STRUCTURE AND ENVIRONMENT, INDIVIDUAL BEHAVIOUR, ORGANISATION-INDIVIDUAL RELATIONSHIP AND CAREER ATTITUDES (Globálny pohľad na rozvoj pracovno-právnych vzťahov, organizačná štruktúra a prostredie, správanie jednotlivca, vzťah medzi organizáciou a jednotlivcom a prístupy ku kariére)
Abstract: The organisation of work within organisations and employment relationships are triggered by the changes in the external environment: information technology development, demographics and socio-cultural factors. Organisations are becoming flatter substituting or adding to hierarchical structures matrix, network and virtual work organisation solutions. Each of them requires different competences and attitudes from individuals working for the organisation. Macroeconomic factors demonstrate the economic development as a rather stable process where as unemployment significantly fluctuates along the course, indicating a necessity for individuals to adapt more self-centred, pro-active attitudes when pursuing their professional careers. The conceptual frame for the further research is developed, identifying various individual competences and attitudes required by organisations adopting different work organisational structures.
Keywords: employment, individual – organisational relationship, behaviour, career attitude, organisational environment and structure
JEL: J 00
str./pp. 31-44
František Korček – Vladimír Bolek – Monika Beňová - SECURITY OF INFORMATION ASSETS IN SMALL AND MEDIUM-SIZED ENTERPRISES (Bezpečnosť informačných aktív v malých a stredne veľkých podnikoch)
Abstract: The period of information and communication technology development is associated with increased information security risks. The risks affect information assets of small and medium-sized enterprises, which are vulnerable due to rapid development and the lack of available financial resources. The priority of SME is to improve the security level in ICT, as the price for the loss of confidential data and business secrets is too high, in some cases even existential. Therefore, it is essential to examine and assess the security of information assets as the part of information security risk management in SME. The paper contains results of the research that evaluates the importance of individual information assets in Slovak enterprises and presents the usage of technical and organisational measures protecting the assets.
Keywords: information security, information assets, small and medium-sized enterprises, risk management, security measures
JEL: M 15
str./pp. 45-55
Miroslava Čukanová – Terézia Fúrová - SLOVAK GAZELLES IN TOURISM AS A DRIVER OF INNOVATION (Slovenské gazely v cestovnom ruchu ako hnací faktor inovácie)
Abstract: The aim of this paper is to investigate the occurrence of the high-growth enterprises – gazelles in Slovakia. The main part of the paper is oriented to the gazelles in tourism (based on the statistical classification of economic activities NACE Revision 2), which were selected from the list of gazelles compiled by the Statistical Office of the Slovak Republic. Innovation plays an important role in services, and tourism is no exception. As gazelles belong to the most innovative businesses, part of the research covers also the innovation in these enterprises.
Keywords: gazelles, tourism, innovation, high-growth enterprises, growth trigger points
JEL: L 83, M 13
str./pp. 56-65
Elena Šúbertová - DIFERENCIÁCIA SLOVENSKÉHO DRUŽSTEVNÍCTVA (Differentiation of Slovak Cooperatives)
Abstract: Slovak cooperatives have currently over 250,000 members. The fastest developing are those that provide business services. There is a big difference in growth dynamics: a significant increase is in administrative services, in services supporting research and technology; on the other hand, there is a decrease in numbers in construction and agriculture. All forms of cooperatives in Slovakia have one common problem: “bad name” originating in the past, especially in the years 1948 – 1989. Even though there were numerous transformations, there is still mistrust in starting and/or developing so-called “new cooperative types”. Differences in economic results of cooperatives depend upon their lines of business and activities, as well as their goals and, of course, upon conditions they work in. Because of the lack of financial resources, most young and potentially prospective members and/or employees are leaving cooperatives for jobs with better financial outlook. Employment of young graduates and young people in general is a major problem in Slovakia as a whole, and it is not specific to the cooperative sector.
Keywords: cooperatives, activities, members, employees, business services, differences, economic results
JEL: M 21, J 54
str./pp. 66-77
Slavoj Czesaný - ANALÝZA TRENDŮ, KONTEXTŮ A PERSPEKTIV VÝVOJE ENERGETIKY VE SVĚTĚ A V ČESKÉ REPUBLICE (Analysis of Trends, Contexts and Prospects of the Power Industry Development in the World and in the Czech Republic)
Abstract: This article is a contribution to the deepening of analytical knowledge about the development of the world energy trends and the strengths and weaknesses of development of the energy sector in the Czech Republic. Attention is focused on the following questions: What long-term trends are prevailing in the structure of production, consumption and efficient utilization of energy resources in the world and in the Czech Republic? What are the opportunities for growth versus the risks of development of the power industry in the long term? By analyzing the positions of the Czech Republic in an international comparison, the following weaknesses in the Czech Republic were identified: high energy intensity of the economy, high prices of energy resources, excessive subsidies for renewable energy, and the obsolescence of the production and distribution system. Among the strengths of the power industry, there is: a relatively low import demand, high export of electricity, interconnection of energy networks, and availability of electricity in remote areas. Based on the principle of the necessary diversification of energy sources, the article concludes that the preferable structure of the power industry is such based on a balanced ratio of gas, liquid, solid and renewable sources. The arguments for this priority rest on strengthening the security in energy supply.
Keywords: world energy, analysis of resources, energy outlook, energy policies, production costs
JEL: Q 41, Q 42, Q 43, Q 48
str./pp. 78-97
Anna Tomová – Ivan Haluška - VERNOSTNÉ PROGRAMY NOVEJ GENERÁCIE A ROZVOJ LETECKEJ DOPRAVY (Frequent Flyer Programmes of New Generation and Development of Air Transport)
Abstract: In the paper we analyze frequent flyer programmes of a new generation as an important structural change in the air transportation industry. Using the results of Multiplus and Aimia companies case studies we identify here two types of new generation frequent flyer programmes according to the stages of their maturity and distinguishing attributes. We inform so about the status of the programmes in world air transportation in 2015. Finally, we discuss potential impacts of these programmes on stakeholders in the air transport industry, namely disintegration of air services value creation, generation of demand for air services, psychological moment of captured customer, models of mutual relationship among frequent flyer programmes of new generation and competition of airlines. We also identify the new directions in economic research with regard to frequent flyer programmes in air transport.
Keywords: frequent flyer programmes, air transport, customer relationships, marketing, airline
JEL: L 93, M 30
str./pp. 98-111
Tetiana Gorokhova – Mykhailo Lukash - DETERMINATION OF AN OPTIMAL MARKET SUPPLY CHANNEL BASED ON THE COMPARISON OF MARKET SUPPLY CHANNEL AND CONSUMPTION DYNAMICS (Určovanie optimálnej distribučnej cesty ponuky na trhu založené na porovnaní distribučnej cesty ponuky na trhu a dynamiky spotreby)
Abstract: Globalization affects a company’s access to international markets since it is accompanied with the removal of trade barriers and booming information and communication with the emerging markets such as the Eastern Europe or China in the 20th century. While creating an internationalization strategy, the corporation faces a challenge to select the markets that could best comply with its goals, resources and have sufficiently large market potential. The article focuses on the market supply channels dynamics, which has to be considered when assessing the market capacity, and on the selection of market entry strategy. For that purpose, steel industry has been taken under scrutiny. The paper analyzes consumption, production, export and import data registered in the period spanning from 2004 to 2013 in 101 countries around the world. We group up the countries according to production volumes, export and import growth and make statistical inferences with the domestic dynamics of consumption. The results suggest the link between the market supply channel growth and its share in consumption volume to be present and significant. The paper provides recommendations for sustainability strategies of both individual companies and global steel industry.
Keywords: market gap, steel market, market supply channels, capacity, dynamics, international markets; corporate responsibility
JEL: M 210, F 170, L 110
str./pp. 112-122
Marcel Čas - THE CLASSICAL DICHOTOMY (Klasická dichotómia)
Abstract: The classical dichotomy is the thesis that the real economy can be effectively studied independently of the monetary economy. It says that the knowledge of technical details of the monetary economy as e.g. of the money markets, the stock market, and the interbank payment system is not needed if one wants to build a theory of the real economy. The aim of this paper is to critically asses the arguments that try to prove that the classical dichotomy holds. The paper summarizes models that show that money is neutral towards the real economy and therefore implies that money can be excluded from the analysis. Ultimately, the paper asks if it is really the case that monetary phenomena can be reduced to real phenomena.
Keywords: classical dichotomy, monetary neutrality, economic theory, real and monetary phenomena, reductionism
JEL: E 40, B 41
str./pp. 123-131
