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EN
This case study presents the route taken by natural mineral waters from producer to consumer. Along with the description of the situation customary in market research, the transformation and history of the market for the product since the change of system is examined. The discussion begins with a presentation of the product and the range of substitutes for it, followed by differences over time in mineral-water production and sales and a description of the size changes in the market. Then come the sales path, the market agents - mineral-water production and sales firms - and finally, the institutions of state and voluntary market regulation.
EN
The aim of the article is to discuss selected aspects of organization and regulation of the financial advice market in Poland in 2011. The article focuses on the identification of basic problems connected with the development of the financial advice market, with particular reference to the controversies concerning forms of potential supervision as well as organization of this market. The considerations of this paper are mainly of theoretical nature but many issues mentioned in the article take on a practical dimension as well.
Zarządzanie i Finanse
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2012
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vol. 1
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issue 3
95-103
EN
This article aims to analyze the obstacles to competition between companies in Central and Eastern Europe. Research method used is logistic regression analysis on a sample of 12,000 companies. The analysis confirms that the main obstacles for competition are excessive regulations and inefficient courts.
EN
The article deals with problems of an inception and existence of sovereign wealth funds in a present world, with their size, types and goals. These funds do not present an economic problem, but they invoke fears concerning a national security and a state sovereignty in case of their entrance into the sensitive industries as a defence industry, energy, an infrastructure etc. in host countries. So there is an effort to establish an international regime of this fund performance which would increase especially their transparency and accountability. Except from it there is discussed the existence of these fund as one form of an external imbalance manifestation and also the manifestation of a changing hegemony in today’s world from developed countries in favour of Asiatic states.
EN
The article presents the concept of predatory pricing and price squeezing and the economic background to it, before examining what judicial practice has developed and what regulatory intervention there has been. The question of investigating predatory pricing and price squeezes has come to the fore recently because it has become clear since the liberalization of the network public services that liberalization and an end to exclusivity of rights are insufficient to produce the desired measure of competition. After liberalization, it was recognized legally in the EU that a new, more co-reliant and cooperative relation would have to develop in branch and competition regulation. Regulatory changes are taking two directions. On the one hand, greater emphasis is being given in branch regulation to the principles of competition regulation. On the other, the role of branch experts is likely to increase in some areas, such as takeovers, mergers and restriction of competition. A common feature of the regulatory reforms is that well-founded regulatory decisions call for increasingly subtle analysis, in which economic analyses are playing an ever more important role.
Kontrola Państwowa
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2011
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vol. 56
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issue 5(340)
109-125
EN
The article presents detailed regulations related to opportunities for limiting the accumulation of the function of a supervisory board member of a joint-stock company in other entities. They are mainly related to persons who perform public functions and to companies with the share of the State Treasury. The author emphasises that the binding regulations lack a general principle that would ban a joint-stock company supervisory board member from being appointed to the board of another company within the same capital group. He also indicates consequences that such practices have for their performance.
EN
On 2 June 2012, the final part of the regulations set forth in the Act of 22 January 2010 on amendments to the Act on the Supreme Audit Office (NIK) entered into force, related to the audit procedure. The authors of the article present these regulations, focusing on selected practical problems that will definitely be faced by auditors in their daily practice. The analysis of the regulations presented in the article will also make it easier for auditees to judge the nature of the amendments. The authors depict, among others, issues related to audit preparations – the development of audit programmes or topics, proceeding related to audit evidence, including access to legally protected secrets; elaboration of audit documentation and post-audit statements; examination of reservations; verification of audit findings; elaboration of pronouncements on audit results; implementation of audit recommendations.
EN
The mechanism of state regulation and functioning of the financial market, their basic elements and directions of influence on development of the financially-credit mechanism of joint-stock companies in Ukraine is investigated.
EN
The authors deal with the issue of comparative advertising in Slovak law, putting stress on the specific implications of the inclusion of regulation of this institute in the legal norm of public law that implemented the European directive. The authors also deal with the definition of comparative advertising and analyse the individual requirements for admissibility of comparative advertising. For the integration of the institute of comparative advertising in Slovak law, the law-maker has opted for its incorporation in the public advertising law, which naturally raises the question of the relationship between the regulation of comparative advertising and rules on fair commercial practices or between other regulations applicable to advertising. Moreover, the fact that the incorporation of the regulation of comparative advertising in the advertising law resulted in the fulfilment of the commitment to transposition of the European directive in Slovak law, will have certain implications for the method of interpretation and application of the Slovak regulation of comparative advertising. We can already state that the case-law of the European Court of Justice had an important influence on the interpretation of the definition of comparative advertising and of the individual positive and negative conditions of admissibility of comparative advertising.
EN
In this analysis the author emphasizes the limitations of financial system risk management, with special focus on the inconstancies between achieving relative satisfactory outcomes for individual and systematic risks regulation. He analyses growth of the financial system unbalances resulting from originate-and-distribute risk strategy and market-to-market or fair-value accounting practices. Along with these and other risks arising from different investment revenue opportunities between more and less regulated financial markets, he seeks for systemic risk management solutions and economic vulnerabilities of existing and projecting financial risks regulatory frameworks. From European point of view and in the light of deepening globalization the author analyses proposed framework design for common policy and structural response to financial crisis.
EN
Market economy is a system that consists of inter-related individual elements such as private economic agents, private-public partnerships, state corporations and state institutions. Such a system possesses individual features of each element as well as systemic features. This is what is called economic dualism in this paper. This interpretation of economic dualism is compared to its traditional interpretation. Basic characteristics of the systems view on market economy are discussed. Some illustrations of a system organization of economy, specifically network organization, are presented. Major conclusion that comes out of this approach is: Systems view on market economy requires its regulation on the basis of a systems approach to correct for market failures and systemic risk. The paper explains what it means from an economic standpoint.
EN
The article summarises the results of undertaken studies of evolution of theoretical looks at regulation of agrarian sector development. It is ascertained, the only state that has enough supplies of products to come to the foreign markets develops successfully. Therefore agrarian sector can be both the reason of the state economic crisis and sphere of crisis overcoming. It is proved, that the process of enterprises and governmental regulation convergence will grow, while holding the requirements of sustainable development (human, ecology, economics) and agrarian sector development within the bounce of innovative and investment model.
EN
In this paper we construct a new market liquidity index for Slovakia (called the VT index) based on the calculation of using traditional indicators of market depth, resiliency, tightness, volatility and liquidity for four markets (money, foreign exchange, bond and stock market) and back-tested the index for the years 2001 – 2008. The VT index began decreasing in the first half of the year 2008 and continued to fall after Lehman Brothers’ collapse in September 2008. Although market liquidity deteriorated globally, major liquidity problems were avoided by individual financial institutions in Slovakia, due to relatively strong macroeconomic fundamentals of the Slovak economy in the pre-crisis period.
EN
The self-organized complexity of the financial sector by the system approach application is researched. It is proposed to consider the financial sector as an integral entity within the financial system, which has key features of the “system”. It is shown that the financial sector continuously self-organizes in the process of its evolution and tends to achieve the most effective structure to the objectives of the participants of financial relations. It manifests in the adaptation of the financial sector to new economic conditions through the evolution of financial instruments and financial institutions. Moreover, in the process of financial sector evolution, there is a need to develop the flexible mechanism of its regulation for achieving and maintaining the financial stability in the economy.
EN
Despite the general conviction, which was during the Great Depression of the 1930s, the relation between the State and the economy was fundamentally transformed. Key steps towards the shift within this relation can already be traced many decades earlier. “Wildcat banking” from the period of the 1830s to the 1860s is an example of a specific form of regulation imposed on the banking industry. In their work the authors are attempting to refute the myth that wildcat banking is an example of unsuccessful operation of so-called free banking. It is failure of the regulation which is identified as the reason for instability of this form of banking operation. As far as effects of regulatory measures are concerned in general, this historical period (or experience) can offer valuable parallels with the cause of the current global economic crisis at the beginning of the third millennium. These similarities are discussed in the last chapter of their work.
EN
Connection of the law of the Slovak Republic to the law of the European Union is related to a large number of new conceptual issues of legislative and procedural character, that are often connected with their significant law enforcement connotations. In case of a regulation it is necessary to bear in mind specific character of this legal act. The Regulation is directly applicable in all Member States of the European Union. It is forbidden to transpose it into the national law. According to Court of Justice of the European Union transposition of content of regulation into the domestic law of a Member State is permitted only exceptionally in the interests of clarity, homogeneity, and effective applicability of legislation, provided, that in this way there is no blurring of the Union origin, nature and legal effects of regulation. It is also permissible to provide implementation of regulation by setting of sanctions or establishing the competence of national authorities.
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2020
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vol. 68
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issue 6
977 – 990
EN
The principles of modern urban planning began to be applied in the Kingdom of Hungary in the second half of the 19th century. In most cases, the first regulation plans appeared around 1900, when these cities were experiencing dynamic growth. The ideas generated in the first plans for regulation and long-term development pre-determined the development of these cities and has determined their form until today. The study considers the principles and approaches applied in modern planning at the turn of the century. Using the example of two cities – Bratislava and Nový Sad – it analyses the key terms applied in expert discussion at the time, their use in territorial planning practice and the contribution of the notable Hungarian city planning expert Antal Palóczi to this discussion.
EN
The aim of this study is to contribute to the clarification of the relationship of law and economics from the aspect of law. Based on the above and taking into account the recodification of Slovak civil law and historical development, author of the study explores the possibilities of increasing the efficiency of private law. The relation of law and economics is determined by the historical development of the human society. There was a wide range of social relations in the sphere of interest of the earlier legislation. This relationship gets new quality under the conditions of the transformation of Slovak economy. At present functioning of the free market raises the question of the state's role in the economy, in particular the legality and the limits of state intervention in economic relations.
EN
Trends within Western capitalist societies toward the individualizing of social problems, the responsibility of individuals for such problems, the treating of social problems as problems of control, on-going attempts to shift the burden for safety and security from the state to the market, and changing conceptions of citizenship, have produced a context within which economic insecurity appears as a governable problem for higher education. Canada’s most populous province, Ontario, experienced radical education reforms during the “common sense revolution” of the Progressive Conservative government from 1995 to 2003. The paper examines government documents, committee and task force reports, and legislative debates and hearings pertaining to these restructuring efforts and draws on the work of Michel Foucault and political sociology to explore the ‘security effects’ of higher education and the latter’s conceptual relationship to employability. Higher education policy and restructuring, shaped as it is by human capital theory, takes employability to be an outcome of restructuring. However, as the paper shows, in an attempt to produce ‘security effects’, employability operated as a central and constitutive category of governance around which education policies as regulatory strategies were crafted. In the recent emergence of a ‘next step’ in the production of the security effects of education employability is displaced by innovation.
EN
This article is about modern problems of operation of fish industry of Ukraine. Breaking point in fish industry of technological and economic recession are described. Offer list of directions of development fishing enterprises in Ukraine to resort to the help of State.
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