EUROPEAN FINANCIAL SYSTEMS
June 27-28, 2016
BRNO, Hotel Santon
CONFERENCE PROGRAM
Monday, June 27, 2016
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 28, 2016
8:30 – 10:00 Parallel sessions
10:00 – 10:15 Coffee break
10:15 – 12:00 Parallel sessions
12:00 – 12:45 Lunch
13:00 – 16:00 Trip (Castle Veveří)
Keynote speakers
Danuše Nerudová Implementation of the CCCTB and its impacts on the budget
of the Slovak Republic
Zdeněk Husták Financial Market Regulations and Financial Innovations
Peter Haiss Foreign Trade Finance: What is the Impact of the Global
Financial Crisis of 2007-2009?
Monday, June 27, 2016
13:00 – 15:00
Session 1 – Accounting
Chair – Jana Vodáková
Room – Dyje
Irena Honková
The Process of Harmonization of Accounting
in the Czech Republic
Michaela Krejčová
Milena Otavová
Jana Gláserová
The Impacts of the Directive No. 2013/34 / EU Transposition
into National Accounting Modifications
in the Czech and Slovak Republic
Zuzana Křížová
Current Issues of Accounting for Intangibles in Various
Reporting Systems
Roman Skalický
The Relation between the Company Financial Brand Value
and the Company Market Value
Magdalena Kludacz-Alessandri The Role of Accounting Policy in Polish Hospitals
Jaroslav Sedláček Financial Statements in the Financial Decision Making
Monika Raulinajtys-Grzybek
Katarzyna Frankowska
Wojciech Matusewicz
The Impact of the Features of Healthcare Providers
in Poland on their Costs in the Accounting System
Miroslav Krč
Vladimír Golik
Jana Vodáková
Accrual Accounting in the Army of Great Britain - Clarity,
Transparency, and Accounting Data Analysis Options
13:00 – 15:00
Session 2 – Corporate Finance I
Chair – Jaroslav Kovárník
Room – Svratka
Zuzana Juhászová
Zuzana Kubaščíková
Analysis of Financial Statements Focusing on Detection
of a Ponzi Scheme Using XBRL
Karina Benetti
Bankruptcies of Companies in the Czech Republic after
New Financial Crisis
Ladislav Šiška Budgetary Gaming Behavior and its Determinants
Petr Suchánek
Maria Králová
Reflection of Customer Satisfaction in Selected
Performance Indicators of Food Enterprises
Veronika Svatošová
Zuzana Svobodová
The Importance of Financial Strategy of the Selected
Company in the Business Development
Jan Pěta
Mária Režňáková
Economies of Scale in M&A in the Manufacturing Industry
in the Czech Republic
Tomáš Štofa
Martin Zoričak
Selected Success Factors of Crowdfunding Projects
Eva Hamplová
Jaroslav Kovárník
Pavel Jedlička
Analysis of Various Entrepreneurial Activities and Their
Development in the Czech Republic from 2008 to 2015
13:00 – 15:00
Session 3 – Financial Literacy
Chair – Martin Svoboda
Room - Svitava
Barbora Chmelikova
Martin Svoboda
Difference in Financial Knowledge of Finance Students
in the Czech Republic
Kateřina Seinerová
Financial Literacy of Elementary School Pupils
in Pardubice
Bohuslava Doláková
Jan Krajíček
Influences on Consumer Rationality
Tetyana Nestorenko
Nadiya Dubrovina
Jana Péliová
Local Economic Impact of Domestic and International
Students
Marlena Piekut
Personal Finance in Terms of Income/Expenditure
Aspects
Zuzana Rakovská
Martin Svoboda
Practical Application of Sentiment Indicators in Financial
Analysis: Behavioral Finance Approach
Josef Nešleha
Study of Financial Literacy in the Field of Insurance
Products
Thi Anh Nhu Nguyen
The Impact of Demographic Characteristics on Financial
Literacy: An Empirical Study in Commercial Banks’
Customers
Věra Jančurová
The Use of Financial Advisory in Czech Republic: Self-
confidence
13:00 – 15:00
Session 4 – Public Finance
Chair – Michal Plaček
Room – Sázava
Michal Plaček
Milan Půček
František Ochrana
Milan Křápek
Application of DEA Methods for Evaluating Efficiency
in Museums, Galleries, and Monuments in the Czech
Republic
Taťána Hajdíková
The Influence of the Size of the Region on the Financial
Situation of Hospitals
Viera Pacáková
Pavla Jindrová
David Zapletal
Comparisons of Public Health Systems of Selected
Countries
Beáta Gavurová
Tatiana Vagašová
Viliam Kováč
Competitiveness Assessment of Slovak Republic
Regions
Jana Vodáková
Nela Sglundová
Expenses and Revenue Classifications for Managerial
Purposes in the Czech State Administration Units
Magdalena Osak
Private Health Insurance and Medical Subscriptions –
Two Faces of the Private Pre-paid Funding of Health
Care in Poland
Jakub Danko
Slavomíra Martinková
Corporate Tax Revenues of Selected EU Countries Using
Dynamic Conditional Correlation Approach
Michal Plaček
František Ochrana
Martin Schmidt
Milan Půček
The Impact of Using an External Authority on the Quality
of Public Procurement
15:15 – 17:30
Session 5 – Banking I
Chair – Liběna Černohorská
Room – Dyje
Łukasz Szewczyk Co-operative Banks in Poland. Current Issues
Mária Barteková
Ľudomír Šlahor
Daniela Majerčáková
Implications of Low/negative Interest Rates for Banks’
Asset and Liability Management – an Example
Libuše Svobodová
Martina Hedvičáková
Comparison of Building Savings Banks on the Czech
Market
Martina Hedvičáková
Libuše Svobodová
Development and the Current Situation of the Mortgages
for the Czech Households
Kristína Kočišová Revenue Efficiency in European banking
Irina Frunza
Comparative Study of Banking Sector in Republic
of Moldova and Czech Republic
Oleg Deev
Vlad Morosan
The Impact of Contingent Convertible Bond Issuance
on Bank Credit Risk
Mária Klimiková
Martina Muchova
Preventing Crises in the Banking Sector and the Role
of Internal Audit in Corporate Governance
Liběna Černohorská
The Efficiency of Czech Banks and a Comparison
with the Banks of the other European Countries
15:15 – 17:30
Session 6 – Financial Markets I
Chair – Mihály Ormos
Room – Svratka
Roman Brauner
Specific Factors of the Contemporary Development of the
Czech Real Estate Market
Alexander Zureck
Julius Reiter
Martin Svoboda
Cross-generational Investment Behavior and the Impact
on Personal Finance
Mihály Ormos
László Nagy
Friendship of Stock Indices
Luděk Benada
Dagmar Linnertová
Hedging of Natural Gas on Selected Markets
Peter Mokrička
Change of the Investment Characteristics by Using
a Chosen Certificate with the Partial Guarantee
of Invested Capital
Juraj Hruška
Oleg Deev
High-Frequency Trading and Price Volatility in the Paris
Euronext Stock Market
Oleksandra Lemeshko
The Dynamic Relationship between Aggregate Fund
Flows and Share Market Returns: Empirical Evidence
from BRIC
Martin Širůček
The Optimized Indicators of the Technical Analysis
by Anticyclic Assets
Gábor Bóta
Mihály Ormos
Oil Price and European Stock Markets
15:15 – 17:30
Session 7 – Insurance I
Chair – Eva Vávrová
Room – Svitava
Ewa Poprawska
Anna Jędrzychowska
Compensation for Lost Revenue - the Effect for the
Height of Pension Benefits of Affected Person
Elena Širá
Katarína Radvanská
Zuzana Grančaiová
Factors Influencing Clients in Selection of Insurance
Company
Ján Gogola
Ondřej Slavíček
Pension-related Application of the Cohort Life Table
Lenka Přečková
Functioning of Bancassurance in Selected Countries
in which the Financial Group Erste Group Bank Operates
Monika Kaczała
Crop Insurance as the Instrument for Risk Financing
in Polish Farms
Silvie Kafková
Dagmar Linnertová
The Influence of a Low Interest Rate on Life Insurance
Companies
Svatopluk Nečas
Eva Vávrová
The Evaluation of Financial Health of the Insurance
Sector during the Lingering Financial Crisis
15:15 – 17:30
Session 8 – Macroeconomics and International Finance I
Chair – Jana Hvozdenská
Room – Sázava
Martin Hodula
Oleg Deev
Systemic Risk Indicators in the Eurozone: an Empirical
Evaluation
Tomasz Rólczyński
Tomasz Kopyściański
Economic Condition of the Country and Level of Rating
Tomáš Urbanovský
Connection between Exchange Rate and Balance
of Payments Accounts: The Case of the Czech Republic
Ana-Maria Sandica
The Analysis of the Asymmetric Expectation Effects of
Regime Shifts in Monetary Policy - Romania Case
Ľubica Štiblárová
Marianna Siničáková
Veronika Šuliková
Slavomíra Šuliková
Evaluation of the Business cycle Synchronisation
in Europe
Miroslav Sponer
Foreign Exchange Intervention by the Czech National
Bank
Jana Hvozdenská
The Prediction of Economic Activity Growth by Sovereign
Bond Spread in France, Germany and Great Britain
Tuesday, June 28, 2016
8:30 – 10:00
Session 9 – Taxes
Chair – Juraj Nemec
Room – Dyje
Nadiya Dubrovina
Analysis of the Relationship between Taxes and Social
Benefits and Transfers in the EU
Nadezhda Yashina
Maria Ginzburg
Louisa Chesnokova
Fiscal Federalism and Redistributive Politics for Income
Tax: Case of Russia’s Regions
Jaroslav Kovárník
Pavel Jedlička
Eva Hamplová
The Comparison of the Selected Aspects of Taxation
in Visegrad Four Countries
Eva Kolářová
The Electronic Record of Sales and Impact on the
Reduction of Tax Evasion
Marina Malkina
Rodion Balakin
Risks and Efficiency of Tax System at Different Budget
System Levels: Revenue Formation and Sharing in the
Russian Federation Regions
Radoslaw Witczak
The Incorrectness of Estimating of Tax Base in Income
Taxes in the Verdicts of Supreme Administrative Court
in 2014 in Poland
Veronika Solilova
Danuše Nerudová
Hana Bohušová
Patrik Svoboda
Safe Haven Interest Rates in the BEPS Context
Juraj Nemec
Emil Burak
Optimising the Slovak Tax Policy and Tax System
Performance
8:30 – 10:00
Session 10 – Insurance II
Chair – Eva Ducháčková
Room – Svratka
Erika Pastorakova
Zuzana Brokešová
Tomáš Ondruška
Eleonóra Zsapková
Contribution to the Research for Adequate and
Sustainable Pensions – the Study of the Slovak Republic
and the Czech Republic
Zuzana Brokesova
Erika Pastorakova
Tomas Ondruska
Information Asymmetry in Insurance Market
Mário Papík
Composition of Pension Funds' Investment Portfolio and
its Impact on Profit
Peter Hošták
Eva Grmanová
Influence of Selected Environmental Factors
on the Efficiency of Commercial Insurers
Patrycja Kowalczyk-Rólczyńska
Tomasz Rólczyński
Alternative Investments in Voluntary Pension Security
Eva Ducháčková
The Role of Life Insurance in the Context of Cover the
Needs of the People in the Czech Republic
8:30 – 10:00
Session 11 – Corporate Finance II
Chair – Karolina Daszynska-Zygadlo
Room – Svitava
Monika Roštárová
Katarína Rentková
Using of Venture and Equity Capital in Financing of
SMEs in the Slovak Republic
Karolina Daszynska-Zygadlo Sustainable Value Creation in Companies
Michal Kuběnka
The Success of Business Failure Prediction Using
Financial Creditworthy Models
Lukáš Vartiak
Comparing Financial Performance of Slovak Excellent
Companies
Anton Marci
Zuzana Juhászová
Possibilities of Using XBRL by Small and Medium Sized
Enterprises and Analysis of the Problems to Overcome in
the process of Creating and Implementing XBRL by
Small and Medium Sized Enterprises in the Future
Karolina Daszynska-Zygadlo
Tomasz Słoński
Magdalena Ligus
Renewable Energy Sector Investments from the
Perspective of Private Equity Funds
8:30 – 10:00
Session 12 – Macroeconomics and International Finance II
Chair – Milos Bikar
Room – Sázava
Tomáš Plíhal
Forecasting Exchange Rate Volatility: Suggestions for
Further Research
Sylwia Pieńkowska-Kamieniecka
Damian Walczak
Willingness of Polish Households to Save for Retirement
Dusan Litva
Perspective of Sustainability of Fiscal Policy in Czech
Republic
Agnieszka Wojtasiak-Terech
Typology of the Municipal Bonds Risk - Application for
Polish Organized Bonds Market
Milos Bikar
Mariana Sedliačiková
Katarína Vavrová
Would the Russian Economy Turn into a Lost Decade?
10:15 – 12:00
Session 13 – Financial Markets II
Chair – Radosław Pastusiak
Room – Dyje
Jaroslava Dittrichová
Hedging Case Study in the Exchange Rate Commitment
Regime Environment
Dariusz Urban
Sovereign Wealth Fund Ownership and Financial
Performance of Companies Listed on the Warsaw Stock
Exchange
Hana Florianová
Tomáš Dráb
Hedging of Portfolios and Transaction Costs
Petr Seďa
Juan Antonio Jimber del Río
Testing the Weak Form of Efficiency on Chinese Stock
Market
Magdalena Jasiniak
Face Nominal Effect on Capital Market Transactions. The
Case of Poland.
Sergey Petrov
Oksana Kashina
Roman Murashkin
Examination of Stock Market “Temperature” Using PriceDividend
Dependence for European Shares
Milan Svoboda
Pavla Říhová
Algorithmic Trading Using Markov Chains: Comparing
Empirical and Theoretical Yields
Radosław Pastusiak Excessive Optimism in the Capital Market
10:15 – 12:00
Session 14 – Banking II
Chair – Luboš Fleischmann
Room - Svratka
Monika Klimontowicz
Karolina Derwisz
Mobile Technology on the Retail Banking Market
Martina Sponerová Nexus of Bank Risk-taking and Interest Rates
Vladimír Gvozdják
Božena Chovancová
Holdings of Government Bonds by Commercial Banks
during the Financial and Debt Crisis in Europe
Marina Malkina
Influence of Concentration and Unevenness in Banking
Sector on Banking System Main Indicators: Case of
Russia
Gabriela Oškrdalová
Payment Card Frauds with a Hidden Camera, touch
Sensors and a Counterfeit Payment Card and Protection
Techniques against these Types of Frauds
Vlastimil Farkašovský
Ľubomír Pinter
Quality and Efficiency of Bank Branch Services
Eugenia Schmitt Stress-testing Model for Structural Liquidity Risk
Luboš Fleischmannn
The Access to Instrument of Countercyclical Capital
Reserves in the European Union and the USA
10:15 – 12:00
Session 15 – Corporate Finance III
Chair – Tomáš Krabec
Room – Svitava
Michal Kolář
Impact of Transfer Pricing Regulation on MNEs'
behaviour
Aleksandra Szpulak
Tomasz Michael
Joint Deterministic and Stochastic Approach to Cash
Balance Modelling: a Cash Model Specification and
Verification
Maria Ginzburg
Elena Ivanova
Nadezhda Yashina
Keynesian Model in Small and Medium Enterprises
Development: Puzzling Case of Russian Regions
Özcan Karahan
The Interaction between Venture Capital and Innovation
in Europe
David Procházka
Financial Performance of Czech Subsidiaries under
Control of the EU Listed Companies
Inka Neumaierová
Ivan Neumaier
The Performance Ranking of Chosen Manufacturing
Division
Tomas Krabec
Percy Venegas
Romana Čižinská
Factoring Attention Price into Investment Decisions
10:15 – 12:00
Session 16 – Finance
Chair – Jan Krajíček
Room – Sázava
František Kalouda
Impact of the REPO Rate on Commercial Rates in the
Czech Republic
Jan Krajíček
Bohuslava Doláková
Impact of the Interest Rates in the Economy the Banking
and Financial System
Oldřich Rejnuš
Prediction of Future Development of the World Economy
under Conditions of Negative Interest Rates
Lumír Kulhánek
Stock Market Volatility in the European Emerging and
Frontier Markets
Dalibor Pánek The Policy of Monetary Easing of Central Banks