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In an earlier paper titled “European Union Enlargement to the Western Balkans applied to the Acapulco typology of agenda-setting: Focus on Montenegro, Serbia and FYROM revisited” (Ciderova, Fejesova & Kovacevic, 2015) interactive matrix of the Acapulco typology of agenda-setting was stretched to the context of the European Union external relations (namely, macro-regional strategies of the European Union and regional cooperation initiatives) and enlargement (particularly the Western Balkans). Fulfillment of thi...

Good governance and the quality of public administration is a key aspect in ensuring a country's long-term competi¬tiveness and well-being. In 2001, the European Commission underlined in its “White paper on Governance” that five principles combine to form the basis of good governance: openness, participation, accountability, effectiveness and coherence. Europe 2020 strategy emphasizes that to achieve transformational change towards a smart, sustainable and inclusive growth it is required a strong governance f...

The goal of this paper is to describe and analyze the transatlantic relationship, why it is important to strengthen it not only within the common security and defense policy, but also within the international political and economic system, and to point out the future scenarios of transatlantic relations. Even with the rise of other economic powers, including the emerging growth markets, the United States and the European Union remain the fulcrum of the world economy, each other's most important and profitable mark...

Unrecognized states represent an interesting anomaly in the current international system which is based exclusively on the project of sovereign states. Although not internationally recognized, or only recognized by a few states, they are able to conduct a certain degree of administration over their territories for a relatively long time and according to the Freedom House Index, some of them have become more democratic in last few years. This is an important signal that international recognition is not necessary fo...

Election management is concerned solely with administrative infrastructure required to support the democratic process of elections. Successful elections do not happen without preparation and planning. They are big and costly events, resulting in the completion of a large number of big and small jobs, including a large number of people, where everyone should be aware of their responsibilities in the electoral process and to give account for their actions on the basis of the law. Election management has to do with s...

While some scholars see compatibility between Islam with the concept of democracy, many of them disagree by manifesting great concern for the problem of how to assure that democracy could be developed in a way compatible with liberty. Best illustration is a number of Muslim societies possessing the outward forms of democracy but yet operating as authoritarian regimes. Democracy cannot exist without a functioning civil society that lies outside from the political sphere. Historically religion (Islam) for majority o...

As much as guns and warships, maps have been used as tools of imperialism. Nations and empires are not natural features within the landscape. They are social constructs, created in order to convert the Earth into a huge real-estate market. The Russian-Ukrainian conflict is not fought only in Ukraine, but also on every map, that shows Crimea. Cartography was coined as a science of princes, as it was these elites who used maps to take land and natural resources from those without power – local people. In the last ...

Modern public administration in the implementation of public administration intends to serve citizens' and this is a starting point of any administrative reform, even from the experience of the European countries. Public administration in Republic of Macedonia is mainly understood as centralized administration and disconnected in relation with citizens and the requirements for modern administration and service. The state is the largest employer within the society and in this context the public administration is a ...

Abkhazia and South Ossetia represent specific cases of disintegration of the Soviet empire. Owing to an extensive support of Russia, they managed to effectively separate from Georgia and to get formal recognition of their independence from Russia. However, in fact, Russia conducts full control over both of these republics, which is significantly different from other republics in the post-Soviet space existing de jure. Both of these separatist republics are under direct economic, political and military control of R...

Political aspects in general can be considered as one of the key determinants not only the structure but also the philosophy of public administration of every modern and democratic state. It should be noted, however, that the degree of their influence on the final result (structure and operation) vary from state to state. In the case of modern democratic political systems it is usual that the impact of the political aspects on the system of public administration is displaced by existing civil society. Where civil ...

In October, the Responsibility to Protect will be celebrating 10-year anniversary. This doctrine was developed from a report reflecting the incapability of international community to prevent and effectively react on terrible events of the 90s, such as Rwanda or Srebrenica. However, even after the 10 years of its official existence within the UN institutional system, the operationalisation of the doctrine falls short on several fronts. Why are states reluctant to rely on Responsibility to Protect? What prevents it ...

An underlying thesis of the issue is defined in the causes of the historical failure of direct democracy and on the causes of the factors responsible for the victory of the principle of representative governance in modern political system. Presented paper is based on authorВґs attempt to generalize the views of various authors of modern political science and practical political and historical experience. Organizational difficulty, numerousness of political community, economic or financial questions, the need for p...

Interest of the contribution is nationalist populism in terms of local government of Slovak Republic. The concept is closely related or is identical to the national populism, nationalism, in many cases to extremism. The nationalist populism in the Slovak Republic is studied at two levels. It occurs not only at national level but also at the local level. Profiling actors at the national level establish their ideological orientation also in regional level, and vice versa. Pluralism of interests, which is typical for...

The article reviews the historic experience in forming the regional Executive Authority during the 1990-ies of the XXth century in the Kemerovo, Novosibirsk and Tomsk regions. The 1990пЂ­2000 period, which is marked with establishing and developing the new Russian statehood on the basis of the concept of separation of powers, can be divided into two main periods of establishing the regional Executive Power in Russia, i.e. 1990пЂ­1993 and 1994пЂ­2000. Each period has had a decisive influence on formation of governa...

The conflict resolution and prevention is still developing challenge for the Diplomacy. The Concept of The Multi Track Diplomacy concentrates attention to the role of media. The main role of the media is through the press, television and electronic media to inform and involve the public in discussions on peace and conflict resolution. This Track of the Multi Track Diplomacy Concept is based on the assumption that the engagement in national conflicts, it is necessary to inform the public about the state and develop...

The study provides an outline comparison of the political culture of the countries of Central Europe, on the example of the Visegrad countries - the Czech Republic, Poland, Hungary and Slovakia. The regionalization and possibly interregionalization of those countries have for strengthening their international position undoubtedly great importance, both inside and outside the EU. Countries of Central and Eastern Europe we can still rank among countries in political transition. Those countries have much in common an...

The European Union is perceived as a great promoter of human rights not only within its borders, but also in its external action. Have they, however, been integrated into the structures of CDSP yet? The paper will focus on the development of the ECDP which will be demonstrated on the EU missions in crisis situations defined as threats to international peace and security by the UN Security Council. On this terms, the EU is a solid partner to the UN, however, the pattern on the mission choice is rather based on real...

The study deals with the current trends of radicalization and support for extremism among young people in Slovakia. The results from previous research projects indicate that the political behavior of current young generation tends to be more related with new trends especially to promote alternative political agenda and solutions. We aim to discuss the findings from qualitative in-depth interviews from two different field work locations in Slovakia and compare these with the nation-wide statistical data from the pe...

The article bears the name of problems contribution of older people in Slovakia after 1989. It is divided into two parts. The first part is addressing to issue at the theoretical level and in the second part we examine them empirically.

In this paper, the authors present a legal-historical analysis of conflicts and their solutions in Bohemia during the reign of the Přemyslid dynasty. It takes into account the methodological incentives which were introduced to the legal medieval studies by a so-called “performative turn” that helped to direct the interest of social science to the typical forms, symbolic contents and social functions of human behaviour. As opposed to the existing research tradition which aims at the political and power-related...

The article focuses on one of the basic questions when concluding a contract on the discount website – what is the nature of the legal relationship, i.e. which party actually enters into a binding agreement with the consumer and thus accepts the obligations specified therein. The consumer buys vouchers at the discount website run by operators who are in a legal relationship with the merchant. The discount website operator receives the money from the consumer, keeps a certain amount as a provision and the outstan...

This contribution is devoted to the issue of CAPM with a more detailed elaboration of its input parameters. It analysis and elaborates beta coefficient, individual ways of its calculation and summarizes findings obtained. It is dedicated to the development of Country Risk Premium and Equity Risk Premium of the Slovak Republic. The analysed input parameters are applied when calculating the Cost of Equity of selected Slovak industry. The most problematic point of solution was the calculation and acceptable predictio...

The support mechanism for electricity generation from renewable energy sources was set up for the development of its consumption. Producers got an opportunity to get rights to sell the electricity generated from renewable energy sources within the frame of compulsory purchase. Public sellers were obliged to buy the fixed amount of generated electricity and to determine the higher purchase price for cogeneration stations. The support mechanism for electricity generation by using renewable energy sources was created...

Reforming of public relations, occurring in Latvian requires the improvement of all laws, including criminal procedure law. Since the 1st of October 2005 in Latvia is in force the criminal procedure law (hereinafter criminal procedure law – CPL) which reformed the previously existing criminal procedure laws and introduced the new ones. The Article 1 of CPL defines the goal of CPL which consists in the establishment of such an order of the criminal procedure which ensures the effective use of rules of criminal la...

The aim of this article is to assess the impact of economic conditions on the level of bank loans to enterprises in Poland in the years 2000 – 2014. To achieve this objective were used the following research methods: a review of the scientific literature, statistical research methods and methods of graphical presentation of economic phenomena. The results of the analysis show that in the analyzed period, was noticeable a significant dependence between the level of bank loans to enterprises and economic condition...

Financial analysis is one of diagnostic tools which can be used to discover and evaluate different causes of financial situation of companies. Graphical methods represent epilogue of numerical evaluation of financial metrics. The purpose of this paper is a graphic representation of financial indicator ratios as immediate comprehensive presentation of the analysis performed. In the framework of special methods of financial analysis, it is to demonstrate the use of graphical methods. In the framework of graphical me...

Deliberate accounting changes are referred to as creative accounting, where management can be carried out at the same time as initiating changes, as well as a victim of their results. Creative errors and fraud in accounting have serious implications for the management of a company. It is shown that some managers and especially shareholders mistakenly and frequently cause unrealistic expectations of positive economic outcomes. It is necessary to investigate issues in terms of both accounting itself, as well as in t...

The end of the twentieth century was a period of radical changes in the rules of activity of stock exchanges. Stock exchanges in Central and Eastern Europe have been integrated into the general trend of transformation, but due to conditions of operating – as stock markets of post-communist countries – adaptation processes to the new rules proceeded differently in relation to the stock exchanges in developed countries. Each of stock exchanges in Central and Eastern Europe have chosen different forms of developm...

The purpose of costing is to provide information on costs of products, works or services realized and used by an enterprise to establish itself in the market. An important tool in solving problems related to cost savings is the full costing approach, a costing method based on the calculation classification of costs, traditionally used in modern enterprises. In the constantly changing conditions of market environment, the importance of new requirements of managers for more detailed classification of cost items in t...

Capital spending is the most productive part of public spending. Investment in electricity, water supply, roads and telecommunications have played a significant role in economic growth in developed countries, and also in developing countries. The lag in infrastructure development, especially road infrastructure can not be explained only by the lack of capital to support the development and financing of infrastructure, but the reason is the lack of government strategy in the insufficient care for the lost opportuni...

Currently, companies are trying to implement and use support tools for decision-making. Common information systems are no longer sufficient for precise data analyzing and creating relevant documents for decision-making. The reason is the amount of information and therefore choosing the right information is the problem for many managers. Business Intelligence is a tool that can work effectively with information and can create reports and other documents that are helpful in the decision making process. Paper describ...

The subject of this cycle consisting of three articles is the analysis of credit risks that Russian telecommunication companies faced before the global economic crisis of 2008-2009. The first article proves the importance of this kind of analysis for the understanding of concentration and centralization processes that has been taking place in this industry within the last 10-15 years. Therein we formulated the goal of the research and the methodology of analysis, as well as chose the models for the express-evaluat...

As a result of intensified fluctuation in the business environment, the role and responsibilities of the top management and the board were significantly increased over the last 5 years. Traditional forms of risks are being readjusted or reevaluated, taking into consideration the markets †volatility and the decrease in the assets value. Added to that, regulations implemented across Europe in financial sector with the aim of customer protection require a new set of principles to be applied in the process of long-t...

In this article for the credit risk estimation according to the chosen ratios, we used the model, created upon the theory of fuzzy sets, or in other words – a linguistic model. Under certain conditions, it can have several advantages over the statistic model. In the case of the credit risk estimation for the Russian telecommunication companies, it provided the results that are, in our opinion, more reliable. On the final stage of the research, we carried out the comparison of the results obtained by using both m...

Initial Public Offering (IPO) decision support models are based on complex and vague network of knowledge items. However, IPO related processes based on exogenous variables are highly non-linear, vague, partially inconsistent and multidimensional systems. It is prohibitively difficult to study them on quantitative levels e.g. using numerical values, especially under conditions of capital markets with a lack of appropriate data sets. The resulting oversimplified models and therefore inapplicable results are often o...

This study focuses on the specific features of business financing in the Czech Republic, thereby contributing to an ongoing discussion on the corporate capital structure and its optimal form. The paper aims to provide up-to-date empirical evidence on the debt and equity financing of selected companies from the Czech Republic within 4 business sectors. Findings of this article are based on the questionnaire survey and subsequent data analysis. The statistical methods and procedures were used for the research evalua...

The aim of this paper is to make a comparison of selected indicators of profitability of selected Czech banks and their foreign owners in the years 2001 until 2013. The key methods of scientific research are methods of classification analysis, comparison and abstraction in the formation theoretical-methodological framework in addressing the issue. Ceska sporitelna and its German owner Erste Bank has been selected, CSOB and the Belgian owner KBC Bank NV and Komercni banka with the French owner of the Societe Genera...

Management of business risks - this is one of the cornerstones of any business. Without competent, qualified management of business risks cannot talk about any development or progress. What is extremely difficult without understanding the level of expected future sales. This study opens the possibility of using the dynamics of dependence (forecast) GDP and the volume of sales in the estimation of future regional sales in Latvia, Lithuania, Estonia and Bulgaria on the example of retail MAXIMA GRUPE. The study used ...

Process of implementation of information systems is a demanding process. Implementation of new systems and technologies is the first step towards their effective use. For that reason, this process is very important. Properly implement Business Intelligence must be systematic. The paper discusses issue of the implementation of Business Intelligence. The paper describes starting model how to implement Business Intelligence. The main objective is to carry out an analysis of the implementation of Business Intelligence...

The initial public offering (IPO) belongs to the major breakpoints in the life of a company. The transition from private into public trading represents a complex process and involves not only the existing shareholders but also other stakeholders. The study deals with agency costs that a company suffers during its IPO. I contend that these costs come from two major sources. Firstly, the agency costs resulting from relationship between shareholders and management are rising. Moreover, new subjects and new partnershi...

In the context of a continuous development of performance criteria, of a continuous transformation of information systems technology (IT) by improving existing communications infrastructure and services, necessary continuous monitoring of financial performance. Monitoring the performance, by the entity management, using Cloud Computing enables to easily monitor, form anywhere, permanently, the activitie's performance, within the entity. Article highlights the benefits of intelligent continuous monitoring by presen...

The issue of how to manage bankroll efficiently always was and stays one of most important. The author was undertaken an attempt to consider this problem from other standpoint. This has allowed to formulate a financial and economic activity model and train to perfection a method of efficient cash flow management.

The main goal of the paper is to analyze the influence of the tangible assets retirement/disposal on business performance of an enterprise pursuant to the Czech accounting legislation. Firstly the "tangible assets" term is defined in accordance with the currently effective legislation (accounting and tax). Then options of retirement/disposal due to various reasons are explained and last but not least the impacts of these individual methods of retirement/disposal are analyzed in relation to economic (business) perf...

The purpose of the present research is to analyse the existing relationship between foreign direct investments and economic growth in the group of developed countries throughout a rather long period of time, in which most countries of the world, and particularly developed countries have been rather highly integrated in the global financial network. In order to meet this objective, we use the econometric analysis of the data provided by the UNCTAD database, for the period 1970-2013, focusing on the two relevant ind...

The quality of human relationships, the willingness of managers and subordinates to mutually cooperate and communicate is directly affected by the economic results of the company. This paper focuses on a current gradually increasing trend in the Czech Republic, namely the Enterprise Social Networks and its ability to be used as a communication tool. The effectiveness of personnel processes as part of a personnel strategy is directly proportional to the creation of harmony among job performance, motivating people a...

Return on Assets (ROA) may be encountered as an indicator of the supply in the research studies on supply issues. The indicator is rather an indicator of the performance of the entire enterprise, as evidenced by the very low correlation with the purchasing operating efficiency metrics as purchased quantity per dollar, purchased quantity per purchasing employee, or turnover ratio. Another way to evaluate the purchasing performance is based on Management by Objectives (MBO). The metrics of purchasing operational eff...

The aim of this paper is to evaluate the significance of central bank independence, based on the hypothesis that the rate of inflation decreases as the independence of the central bank increases. The paper is based on current scientific research in the field of measuring and evaluating central bank independence. Subsequently, the CBI index (Central Bank Independence Index) was designed. It is based on the most important criteria for central bank independence and the determination of their values. Then, using the p...

According to the existing literature, non-financial performance measures provide managers with incentives to improve long-term financial performance and, on the other hand, financial performance measures provide managers with incentives to improve short-term financial performance. The main reason is, that they are calculated ex-post and mostly cannot predict future performance. In this paper we test this statement and examine whether the use of financial or non-financial performance measures for incentive purposes...

In the face of the dynamic development of the financial market, the problems relating to the operations of investment funds have gained in importance. The goal of the paper is the analysis of the role of investment funds in the financial markets. The paper starts with the brief outline of the history of money and financial markets. Further, the determinants of the stability in the financial markets are analysed. The author of the paper argues that investment funds are of great importance in terms of the allocation...

A product costing, if properly formed, belongs to the important cost management tools as its outputs play important role within management control and decision making processes. Changes in the market, that are a daily reality for today businesses, cause the changes in procedures and tools that management uses to manage its business operations. Also, as published many times, the management accounting systems together with procedures of the product costing doesn't remain unaffected. But what are the changes within m...