June 24 – 25, 2019 BRNO, Hotel Santon CONFERENCE PROGRAM 1 Monday, June 24, 2019 9:00 – 10:00 Registration 10:00 – 10:15 Opening ceremony (Conference Room) 10:15 – 11:45 Plenary session (Conference Room) 11:45 – 12:45 Lunch 12:45 – 13:00 Group photo 13:00 – 15:00 Parallel sessions 15:00 – 15:15 Coffee break 15:15 – 17:30 Parallel sessions 18:30 – 00:00 Reception Tuesday, June 25, 2019 8:30 – 10:00 Parallel sessions 10:00 – 10:15 Coffee break 10:15 – 12:00 Parallel sessions 12:00 – 13:00 Lunch 13:00 – 16:00 Brno - Steamboat Keynote speakers Peter Haiss Institutional Inequality and Regulatory Arbitrage – Financial Sector Competition Revisited Eugenia Schmitt Risk taking and Corporate Governance in the new Bank Regulatory Requirements 2 Monday, June 24, 2019 13:00 – 15:00 Session 1 – Accounting Chair – Karwowski Mariusz Room – Dyje Veronika Popelková, Jaroslav Sedláček Implementation of the European Directive on non-financial information in EU Member States Jozef Lukáč International financial reporting standards and their impact on selected financial performance indicators Mariusz Karwowski IFRS 15 and evaluation of business model innovation František Sejkora, Petra Hromuľáková Methods of recording economic transactions of entrepreneurs - individuals in the Czech Republic Milan Gedeon IFRS 16 Leases: impact on company's financial reporting with a focus on consistency of application Hana Bohušová, Patrik Svoboda The impact of the ways of agricultural activity reporting on financial statements under IFRS and Czech Accounting Legislation 13:00 – 15:00 Session 2 – Corporate Finance Chair – Machek Ondřej Room – Svratka Petr Valouch, Josef Nešleha Relationship between the Company Performance and Merger Martin Svítil Leasing companies in Czech Republic from the perspective of Basel III regulation Sylvia Jenčová, Petra Vašaničová, Igor Petruška Financial Position of Slovak Spa Companies Veronika Svatošová Strategic Approaches of SMEs in Economic Performance of E-commerce Mária Kmety Barteková, Helena Majdúchová Evaluation of the Policies Supporting Cultural and Creative Industries in the Slovak Republic Gabriela Kukalová, Lukáš Moravec, Dana Bína Filipová, Viktor Janáček Lowered VAT Rate Transfer to the Consumer Prices: Selected Medicament Case Study Daniela Kolouchová, Ondřej Machek, Aleš Kubíček Does Gender Matter in the Performance of Family Firms? Evidence from the Czech Republic Jana Hvozdenská Profitability of agricultural entities in countries of Visegrad Group 3 13:00 – 15:00 Session 3 – Finance and Financial Literacy Chair – Robert Zajkowski Room - Svitava Ilja Schaab, Eric Frère, Alexander Zureck Experimental Design: Testing the Zero Yield Bias Josef Nešleha, Lenka Janošová The Financial Education among Pupils in the South Moravian Region Ivan Soukal, Eva Hamplová Professional qualification tests by the Act on consumer credit results of non-bank consumer credit providers employees Mai A. Ibrahim, Mohammed El-Beltagy, Motaz Khorshid Investing in Emerging Markets: Contrasted Mean and Median Models in Egyptian Stock Markets Robert Zajkowski, Ada Domańska, Beata Żukowska Generational shadow in Polish family firms - may second generation change anything? Martin Svoboda, Annika Rüder, Noel Opala, Gennadij Seel Structural breaks in consumer’s behavior according to their demand for credits and deposits Alexander Zurec, Eric Frère, Gennadij Seel, Lars Klingenberger Teaching and learning with audiovisual media: Empirical analysis of the effectiveness of podcasts in financial literacy 13:00 – 15:00 Session 4 – Public Finance Chair – Janošová Lenka Room – Sázava Oksana Kashina, Nataliya PronchatovaRubtsova, Sergey Petrov, Nadezhda Yashina Methodological Aspects of Evaluating the Efficiency of Public Procurement in order to Improve the Effectiveness of Financial Control in the Regions of Russia László Vértesy Local Debt Burden at LAU2 level in the EU countries Raita Viorel Gabriel, Mihut Marius-Ioan, Ienciu Ionel-Alin, Ienciu Nicoleta Maria Fiscal evasion in Romania, a theoretical and practical approach Aleksandra Nocoń Evolution of the Financial Stability Reports – theoretical approach Irina Kolupaieva, Olena Shevchenko, Alina Borysova, Analysis of migration processes and assessment of their impact on the development of international money transfers of Ukraine 4 Loredana Andreea CRISTEA, Alina Daniela VODĂ, Dragoș Mihai UNGUREANU Determinant Factors Of Fiscal Revenues Under Current Economic Conditions András Bethlendi, Csaba Lentner, András Póra The divergence between the EU and non-EU Fiscal Councils Juraj Nemec, Matúš Grega, Marta Orviská, Markéta Šumpíková Title Transaction Costs in the Czech and Slovak Eprocurement: Selected Issues 15:15 – 17:30 Session 5 – Financial markets and Accounting Chair – Zuzana Kubaščíková Room – Dyje Zuzana Kubaščíková, Miloš Tumpach, Zuzana Juhászová, Bazhan Turebekova, Saparbayeva Contextual Non-financial Information Analysis of Annual Reports Oksana Kashina, Nataliya PronchatovaRubtsova, Sergey Petrov, Nadezhda Yashina Identifying of the expectations of stock trading participants for the diagnosis of Financial market environment using the online analysis of an order book Jana Hvozdenská The yield curve as a predictor of economic activity – the case of Germany, Great Britain and France Filip Hampl, Elena Láncošová, Zuzana Rakovská Searchability and Machine-Readability of the Financial Statements of the Czech Business Corporations and Their Influence on the Financial Performance Gábor Bóta, László Nagy and Mihály Ormos Capital asset prices in the V4 countries Irena Honková The CBA Analysis of IFRS Implementation in the Czech Republic Bálint Botos, László Nagy, Mihály Ormos Statistical Arbitrage Portfolio Selection in the Old and New EU Member States 15:15 – 17:30 Session 6 – Financial Markets I Chair – Jasiniak Magdalena Room – Svratka Tereza Huňorová The performance of socially responsible funds according to their approaches Pavla Říhová, Milan Svoboda Reliability of Investment Recommendations 5 Dennis Schmidt, Alexander Zureck, Stefanie Gradetzki, Gennadij Seel Critical investigation of the effects of series extensions on the stock price of the provider Ján Gogola, Petr Šild Robotic process automation for investment modelling Josef Novotný, Renáta Myšková Investment in land – strategic decision Lukáš Marek Impact of Brexit on volatility connectedness across ASX’s subindices Magdalena Jasiniak Stock price and investment decisions – case of Warsaw Stock Exchange 15:15 – 17:30 Session 7 – Insurance Chair – Soliwoda Michał Room – Svitava Silvie Zlatošová A Non-asymptotic automobile bonus-malus system with varying transition rules Michaela Florianová Information asymmetry in Insurance Market Michał Soliwoda, Agnieszka Kurdyś- Kujawska Does the linkage between crop insurance and use of debt exist? An empirical evidence from Polish farm businesses Svatopluk Nečas, Eva Vávrová Milestones in the development of the modern insurance market in the Czech Republic Lenka Přečková, Eva Vávrová The Expense Ratio Development of Insurance Portfolios in Selected Insurance Companies in the Czech Republic in 2010-2017 15:15 – 17:30 Session 8 – Macroeconomics and International Finance Chair – Ivan Soukal Room – Sázava Jaroslav Kovárník, Eva Hamplová Foreign Trade in Central Europe: Selected Issues Darya Dancakova, Jozef Glova The effectiveness of secondary education in European countries 6 Özcan Karahan Financial Depth and Current Account Deficit in Turkey Lenka Komárková Regional Differences in the Relation of Flat Prices to Net Disposable Income of Households Sergey Yashin, Nadezhda Yashina, Nataliya Pronchatova-Rubtsova, Oksana Kashina, Sergey Bogomolov Methodological Aspects of Assessing the Fiscal Sustainability of the Russian Federations’ Regions in the Context of Internal and External Financial Constraints Özcan Karahan Foreign Capital Inflows and Domestic Savings in Turkey Pavla Srbová, Mária Režňáková Prediction of the economic growth to determine the growth rate of business value 7 Tuesday, June 25, 2019 8:30 – 10:00 Session 9 – Taxes and Accounting Chair – Dobranschi Marian Room – Dyje Taťána Hajdíková, Karel Janák, Olga Oberreiterová Excise tax harmonization in the EU Eva, Kolářová, Vendula Kolářová Analysis of consumption tax dependence on beer consumption in the Czech Republic. Břetislav Andrlík, Lucie Zborovská Road tax model with environmental element: The case of the Czech Republic Radosław Witczak, Tomasz Florczak The changes in the Polish tax system and their influence on the tax evasion Zdeněk Strmiska, Jana Vodáková Importance of VAT in government budgets Alexandra Bagiová, Jitka Meluchová, Martina Mateášová Financial Bilingualism as a Success Factor for Effective Business Combination Project: The Case of US Investors 8:30 – 10:00 Session 10 – Public Finance and Corporate Finance Chair – Michalski Grzegorz Room – Svratka Michaela Kavčáková Evaluation of financial health of companies in Slovak republic based on selected mathematical-statistical methods Mykolenko Olena, Strapchuk S., Kozyrіeva O. An Empirical Analysis of the Impact of R&D on Productivity in EU Countries Nikola Janíčková, Ondřej Žižlavský Key Performance Indicators System for Small and Medium-sized Enterprises in Non-productive Automotive in the Czech Republic: A Research Design Ľudomír Šlahor, Mária Barteková, Janka Gasperová, Dagmar Palátová Long-Term Social Care – The Problem of Sustainable Financing in Slovakia Danuše Nerudová, Veronika Solilová, Marian Dobranschi and Marek Litzman Tax haven ties and the profitability of foreign owned companies Dennis Schmidt, Alexander Zureck, Martin Svoboda, Stephan Burmeister A critical analysis of too prominent to fail in times of Neymar 8 8:30 – 10:00 Session 11 – Financial Markets II Chair – Komarkova Lenka Room – Sázava Jitka Veselá, Juraj Čurpek Hurst Exponent and the Efficiency of the Czech Electricity Market Zuzana Janková, Petr Dostál Analysis of Financial Market Using Soft Computing Techniques Maroš Bobulský, Mária Bohdalová Robust Optimization Methods in Modern Portfolio Theory Agata Kliber, Katarzyna Świerczyńska Bitcoin as a panacea for the Venezuelan crisis? Blanka Łęt Do European investors react to extreme oil prices? Evidence from Granger causality in tails test Pavel Sedláček, Elena Láncošová Prediction of electricity prices, comparison of Germany and Czech Republic 10:15 – 12:00 Session 12 – Banking Chair – Martina Sponerová Room - Svratka Lenka Čuperová Šebková, Mirko Dohnal The impact of quantitative easing on the bank liquidity and trend development on U.S. banks´ asset composition Martina Sponerová, Miroslav Svoboda, Miroslav Sponer Prediction of Bankruptcy in a Different Period of Economic Development Łukasz Szewczyk Countercyclical capital buffer as a macroprudential instrument and its implementation in selected EU countries Ewa Gubernat Excessive debt of households and financial exclusion Libuše Svobodová, Martina Hedvičáková Mortgage loans and impact of the monetary policy in the Czech Republic Monika Klimontowicz, Krystyna Mitręga- Niestrój FinTechs as alternative financial market players 9 10:15 – 11:15 Session 13 – Finance Chair – Oldřich Rejnuš Room – Dyje František Kalouda Inevitability of the Economic Crises Cybernetic Reflection Oldřich Rejnuš Extreme Tools of World Economy Management and Their Risks Jaroslav Sedláček Economic Effects of IFRS 16 Implementation