The author highlights the striking difference between the economic transition of the Czech Republic and Hungary. These two countries, roughly of the same size and same level of development, have traveled on markedly diverging paths toward relative prosperity. After the velvet revolution of 1989,...

The aim of the paper is to apply a theory of asymmetric information to managing production risk in agriculture. The second part of the paper is devoted to the tools for reducing the information asymmetry - parametric products (weather derivatives, index insurance). The results are based on...

The paper focuses on how risk management may influence the value of a company. Situation is discussed with models of Modigliani - Miller - Fama and their assumptions in the background. After the basic explications of the afore mentioned models and of the decision- making rule for investments,...