Využitie zmeniek v obchodných a podnikateľských vzťahoch je veľmi všestranné. Možno ich použiť jednak pri zabezpečovaní finančných záväzkov, jednak ako efektívny platobný prostriedok. Zmenky našli vhodné uplatnenie aj v takej špecifickej oblasti, ako je podpora exportu....

Global corporations and companies with international portfolios increasingly concentrate their activities not only on the international expansion of their products or services and global diversifi cation of their capital portfolios, but also on an effective integration in the global value chain...

This paper examines features of the Czech stock market’s development from 1997 to 2003 and attempts to unveil the macroeconomic consequences of stock-price development. The analysis of the stock market’s behavior supports a cautionary stance on the hypothesis of the efficient-market theory,...

In this paper, we investigate the adequacy of scaling, a method frequently used in estimation of standard deviation of stock returns. Scaling is based on the assumption that standard deviation is proportional to the square root of the length of the time interval of the sample (for example daily,...

Functional Signal plus Noise (FSN) time series models are introduced for the econometric analysis of the dynamics of a large cross-section of prices in which contemporaneous observations are functionally related. A semiparametric FSN model is developed in which a smooth, cubic spline signal...