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Institutionelle und methodische Grundlagen, materielles Recht, Kollisionsrecht

Abstract

Asian foreign direct investments are significant in the Visegrad countries (Czech Republic, Hungary, Poland and Slovakia). Statistics compiled by the OECD’s new balance of payments manual (BPM6) show that the FDI stock of Asian investors is significantly higher than the data on direct investors suggest, meaning that companies go through intermediary countries before the investment reaches its final destination. The purpose of the article is to analyse why Asian FDI invest through intermediaries rather than directly. The paper analyses the main reasons for this “indirectedness” based on statistical data, other sources and semi-structured interviews with automotive and electronics companies. Our results show that the motivations for using an intermediary country can be manifold. Tax optimisation is often the reason why a company goes through a country with a more favourable regulatory environment. In addition, the geographical distance and global production chain considerations can be important, as well as the aim of companies from emerging countries to conceal the investor’s real origin. The increasing number of acquisitions further enhances the share of indirect investments, as with the acquisition of a foreign parent company the new owner also inherits its subsidiaries.

Abstract

In this article, the authors deal with the issue of the women’s status in labor relations both in the Czech Republic and Slovakia. The authors examined the regulation of the position of women in labor law regulations and compared their results, trying to answer the main question – In which state is it better to work for women after the break-up of Czechoslovakia? Methods of analysis, comparison and synthesis were used. By examining scientific texts and legislation, were the authors able to articulate comprehensive conclusions, not only from the labor law perspective, but also taking into consideration antidiscrimination regulations. The authors reached a conclusion that labor regulations in the Czech Republic are slightly more favorable for women than in the Slovak Republic.

Abstract

The pursuit of global competitiveness requires a complex system of measures that enable the promotion of business. Yet this goal is strongly hindered by interdisciplinary (legal, economic, managerial, IT) red tape programs in both national and supranational frameworks. The aim of the paper is to enhance the understanding of red tape by identifying key sector-specific problems in administrative areas that are crucial for SMEs and offer suggestions for improvement. The paper explores measures related to red tape in the Slovenian and European contexts based on the understanding that transparent regulation with efficient procedures is a precondition for a business-friendly environment that attracts investments. The research is based on a combination of empirical methods applied to a base of over 900 surveys collected from Slovenian SMEs in 2016 and 2017. The results show that entrepreneurs see the greatest administrative burdens in the area of accounting and financial reports, especially the number of the documents needed, the time needed to perform a procedure, and the need for outsourcing.

Abstract

Many empiric analyses on the topic of the progression exist and despite their often contradictory results governments still include their conclusions in to their tax policies. Many questions arise in relation to the issue: What is the theoretical justification of progressive taxation? What are the effects of the progression from the microeconomic and macroeconomic perspectives? Which conditions should be met in the real-world for progressive taxation to be effective?

The purpose of the article is to find the answers to these questions. We aim to identify a set of requirements that shall be observed if the efficiency of progressive taxation in real conditions is the goal. We conclude that the taxation as a built-in stabilizer have an impact on economic stability under certain conditions. We described the mechanism of how the taxation act in the counter-cyclic and pro-social way and we defined the factors which influence the efficiency of progressive taxation in the real economy.

Abstract

Since Bitcoin introduction in 2008, the cryptocurrency market has grown into hundreds-of-billion-dollar market. The cryptocurrency market is well known as very volatile, mainly for the fact that the cryptocurrencies have not the price to fall back upon and that anybody can join the trading (no license or approval is required). Since empirical literature suggests that GARCH-type models dominate as VaR estimators the overall objective of this paper is to perform comprehensive volatility and VaR estimation for three major digital assets and conclude which method gives the best results in terms of risk management. The methods we used are parametric (GARCH and EWMA model), non-parametric (historical VaR) and Monte Carlo simulation (given by Geometric Brownian Motion). We conclude that the best method for value-at-risk estimation for cryptocurrencies is the Monte Carlo simulation due to the heavy diffusion (stochastic) process and robustness of the results.

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