Three approaches toward the determination of fixed swap rates are presented in this article: a swap as a portfolio of bonds with a fixed and floating coupon, a swap as a portfolio of forwards, and a swap as the difference between the cap and the floor (zero-collar). Later in the paper, credit...

There is need for stakeholders to assess business in terms of its financial situation at each stage of an enterprise. There are plentiful options. You can use the analysis of financial ratios and different Benchmarking methods. It seems advantageous to use methods of comprehensive evaluation of...

The English version of this paper can be found at http://ssrn.com/abstract=2053674 Czech Abstract: Cílem tohoto článku je vložení problému zastoupení do širšího kontextu Nové institucionální ekonomie s důrazem na historické souvislosti. V první části vysvětluji historický...

The aim of the paper is to set the agency problem into a broad context of New Institutional Economics with an emphasis on historical connections. In the first section, I explain the historical evolution of basic theoretical concepts like the theory of firm, the theory of market process and the...

The article deals with definition of approach of managerial audit and its importance for development of SME. Managerial audit is not understood here like a personal audit but way of the evaluation of management of the firms. The interviews with managers of SME are the essence of the managerial...

This paper uses new firm-level data to examine the effects of breakups of the Czech firms and their subsequent privatization on corporate performance. Unlike the existing literature, which analyzes breakups almost exclusively in advanced economies, we control for accompanying ownership changes...