Tax could be defined as mandatory, irreversible, non-purpose, non-equivalent payment into the public budget. There are two important types of taxes in every tax system, namely direct and indirect taxes. This article is focused on important part of current tax theory and tax&...

Since its publication in 1973, the Black-Scholes model has become synonymous with scientific method in finance, it has paved the ground for model-based trading and investing, and gained a Nobel Prize. Based on extensive research, this paper demonstrates that 1973 cannot&#x...

In determining premiums in non-life insurance there is no universal method. In this paper is applied Bühlmann-Straub model for determining credible premium in third-party vehicle insurance. Loss ratio is the ratio of total losses incurred in claims divided by the total premiums&#...

This paper introduces the topic of microfranchising as a new tool of development aid. Microferanchising should be more effective and impactful on lives of individuals than traditional and official development aid of international and governmental institutions which is often critised&...

Economies and state budgets of many countries in the European Union have been calling for a change over the last decade. Expenditures of state and regional budgets should be reduced to improve their final bilance. Individual sectors of the economy should review each&#x...

The main aim of this research focused on a set of concerns regarding the role of SME senior manager in planning/development of initiatives directed towards quality continuous improvement. These concerns ended up in the research’s main focus and got materialized throug...

The development of a portfolio of investment projects is a relatively underestimated economic practice, which often leads to wrong investment decisions with a negative impact on the corporate performance. This development is often done under certainty, which means with the ...

The impacts of economic crisis on the Czech housing market were, at least till now, relatively moderate. In comparison to other developed countries (e.g. Ireland, Spain, Greece, USA, Denmark, Hungary, Estonia, Latvia or Bulgaria) was the decrease in residential property prices on...

L-moments are based on the linear combinations of order statistics. The question of L-moments presents a general theory covering the summarization and description of sample data sets, the summarization and description of theoretical distributions, but also the estimation of parameters ...

Regional policy is one of the most important EU policies. Large amounts of resources used for support programmes automatically put forward the question of their effectiveness and efficiency. These aspects can be examined both from macro and micro perspectives. In this article...

The paper presents basic, empirically-grounded, overview of the current state of creative industries in the Czech Republic with particular emphasis on the principles of spatial differentiation. Creative industries are associated with their positive role in creating innovations and jobs as&...

We describe and compare the current status of mental health financing in Bulgaria, the Czech Republic, the Republic of Moldova, Poland, Romania, and Slovakia. In all six Eastern European countries, the state financed and state organized health system was transformed into a&...