The Czech tax system is undergoing radical transformation. Among the many forthcoming changes, several features can be identified, which alter the structure of tax asymmetries. This paper uses an option-based model of direct taxation to examine a controversial new thin-capitalization rule,...

This paper investigates the process of evaluating and negotiating commercial contracts using value-based models. First, contractual assets are defined and related to a comprehensive firm-theoretical background. Several simple valuation models for contracts are then derived and applied, using an...

Building upon exhaustive research of extant and often fragmentary contemporary resources, this paper provides a thorough analysis of financial options trading and sales in interwar Czechoslovakia. Whilst focusing primarily on a remarkable bucketshop episode occuring in the late twenties and...

This paper strives to address the issue of distribution costs budgeting, encountered by commercial banks whose business plans presume the sale of saving accounts using third-party distribution networks. A rather intricate problem arises, jointly requiring the design of a commercially viable...

This paper provides a review of pre-World War II financial derivatives trading in Prague. Its structure, development and various contexts are being addressed, based on a comprehensive research of contemporary resources. Empirical data, which have not been used so far for similar purpose, allow a...