We analyze the extent of the integrated state control over the privatized companies in the Czech Republic during the decade of 1995-2005. During this period, the integrated potential of the state to control companies had a pyramid-like form. Even though the pyramid control was not fully...

This paper presents the basics of the Transaction cost theory (TCT) and shows it's contribution to the Theory of the firm by the view of the new institutional economics. In the first part, author presents resources and presumptions of the TCT mainly by O. E. Williamson. The theory is based on...

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...

The core aim of this paper is to suggest comprehensive definition of the information economy and delineate the range of economic problems it deals with, paying particular attention to its connections to the economics of information. The text, in the extent provided, can not investigate...

The article is based on the thesis that institutional quality influences the economic performance. From this point of view under certain circumstance the government policy is able to increase efficiency and performance of economies through creation, maintenance and cultivation of appropriate...

Dne 9. prosince 2004 přijala Slovenská republika zákony o konkurze a reštrukturalizácii a o správcoch, které byly vyhlášeny pod čísly 7/2005 Z.z. a 8/2005 Z.z. Stalo se tak necelých osmnáct měsíců poté, co vláda Slovenské republiky schválila v červenci 2003 legislativní...

Volatility of the financial time series belongs to the crucial estimated parameters in finance (e.g. in risk management, derivative pricing). It is well known, that volatility varies in time, so that new approaches of volatility modeling have appeared. In this paper two models of the conditional...

This study explores bank´s transformation in the Czech Republic from the point of view of their profit. It considers factors that influenced domestic banks and income structure of peer groups. Under conditions of equal competition, the peer groups showed different characteristics in terms of...

Estimation of volatility of financial time series plays a crucial role in pricing derivatives. Volatility is often estimated from historical data; however, it is well known that volatility varies in time. We propose a method to choose a suitable length of historical data to estimate contemporary...

Efficient Market Hypothesis has dominated the field of research on capital market theory. It postulates that asset prices are rationally connected to economic realities and always incorporate all the information available to the market. A huge quantity of theoretical works around the world have...