The article presents initial empirical findings about corporate reorganizations ordered in 2010 (with cut-off date as of March 2011), the third year after the coming into force of the new Czech Insolvency Act. These findings are compared to similar findings made in relation to the period...

The description of contemporary application of Corporate Governance principles in Czech companies. The prezentation of Corporate Governance decision steps. The definition of Corporate Governance individual practices in Czech companies. Presentation of future system development of Corporate...

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...

During the last few years the Czech Republic has witnessed a great boom in the area of a problematic and irrecoverable credit settlement. Late and substandard payments have become rather a tradition in the Czech way of doing business. Consequently the solution by selling receivables to the third...

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...

The paper deals with yield curve construction methods using coupon bonds in Czech bond market. Generally, there are more possibilities how to approach this problem: bootstraping, splines, parametric functions. Due to the lack of tradable public bonds and due to the fact that existing bonds do...

The paper deals with equilibrium real price of a fixed asset in a growing economy. The supply of this kind of assets is by assumption fixed. Land or unique works of art are probably their closest empirical counterparts. Economic growth is manifested by a systematic increase in the real price of...

The paper analyzes the relationship between interest rate transmission mechanism and bank's management of interest rate risk during the disinflation monetary policy in the Czech Republic in 1999-2006. In theoretical part, main determinants of short-run and long-run equilibrium of client interest...

On the background of current global mortgage crisis the article discusses the housing market theory and particularly the methods and indicators used for the evaluation of long-term sustainability of house price trends. The authors provide the time series of such indicators for selected OECD...