This paper attempts to analyze corporate tax evasion in a principal-agent framework. We assume that the firm's profit is positively related to managerial effort and that the executive compensation is profit-based. In addition, we consider the situation where the manager might underreport the...

Stárnutí obyvatelstva se stalo v poslední době jedním z důležitých témat v mnoha rozvinutých zemích. Důchodové systémy a systémy financování zdravotnictví založené na solidaritě jsou výrazně citlivé na demografické změny související s klesající porodností a...

Hedging strategies represent basic instrument used toward eliminating financial risk. Increasing volatility of financial markets and their globalization also lead to higher financial risks. These aspects are especially important for transitional and small open economies. The basic goal of the...

The paper considers modern frameworks of public debt management from a credibility perspective. It focuses on the institutional and operational arrangements of effective debt management. In particular, the author seeks to shed light upon the contemporary problems of Czech debt manager compared...

The Stability and Growth Pact has become a primary fiscal policy framework in all European countries since 1997. Together with Maastricht fiscal criteria it determines the fiscal discipline of integration process. The aim of this study is to evaluate ex-post effectiveness of the fiscal rules...

The Czech Republic has introduced new energy taxation in connection with implementation of the directive 2003/96/EC, restructuring the Community framework for the taxation of energy products and electricity. New energy taxes are imposed on electricity, solid fuels and natural gas, with term of...

The purpose of this model is to measure the impact of localization of new (mostly industrial) enterprises in strategic industrial zone in regional economy. Model deals with multiplication effect of regional consumption expenditures, which is (among others) strongly affecting development of...

Daniel Bernoulli's explanation of Petersburg paradox is a special case of general Weber-Fechner's law for area of economy. Till now, this law used to be used outside the area of physics only very rarely. From social point of view, more attention should be payed to subjective perception of...

The paper focuses on selective investment incentives, which are aimed primarily to attract foreign direct investment, in the context of the new EU Member States, namely the Czech Republic, Hungary, Poland and Slovakia. We discuss the issue within three closely related dimensions. We point to a...

This paper attempts to contribute to the analysis of links between state aid and competitiveness of manufacturing industries during 1998-2002. Statistical source on subsidies include all subsidies to capital gathered on enterprise level by Czech Statistical Office. The enterprise data have been...