National Repository of Grey Literature 109 records found  1 - 10nextend  jump to record: Search took 0.00 seconds. 
Corporate taxes within European Union
Bechner, Tomáš ; Kemény, Irena (advisor) ; Schneider, Ondřej (referee)
At the moment the European Commission tries to harmonize common consolidated tax base. This action should replace 27 different tax bases across European single market and improve enterprise environment on the European single market. The problem is with political support for this harmonized legislative step from member states. Due political difficulties for member states each member state accept recommendation from OECD in area of direct taxes and in the case of corporate taxation are mainly used treaties again double taxation. The goal of this thesis is to give an overview about present situation in corporate taxes in the European union and outline possible future development. For corporate is common state useful, because can use potential tax optimization. The fact is, that scope for tax optimization will exist after potential tax harmonization within European Union in form of off-shore companies in tax heavens. Powered by TCPDF (www.tcpdf.org)
Pension system in Czech Republic compared with Slovak system
Argayová, Šárka ; Schneider, Ondřej (advisor) ; Hedbávný, Petr (referee)
Czech and Slovak pension systems, after divorce of the federal state in 1993, were based on the same content. Slovak system has come through systematic reform, Czech Republic, on the other hand, for such a complex one still waits. This paper describes in detail both systems and their evolution since separation, with special emphasis on their mandatory parts. First part of the paper gives a theoretical background; contains basic types of pension systems and their characteristics. The next part describes Czech pension system, its development since 1989 and highlights its shortcomings. The fourth chapter comes with possible reforms of this system suggested by experts as well as by Czech political parties. Then I describe in the same way Slovak pension system and its reform. The last chapter is the core part of whole paper, that compares development in both systems, describes their current basis and shows, how demographic and macroeconomic trends influence pension systems. Powered by TCPDF (www.tcpdf.org)
Impacts of European Bailout Programs on SMEs Distress rate
Tóthová, Simona ; Parrák, Radovan (advisor) ; Schneider, Ondřej (referee)
Master Thesis - Simona Tothova Abstract This thesis empirically investigates impact of countries' bailouts on probability of SME segment distress. The impact is examined by multi-period logit model where dependent variable is distress rate and explanatory variables includes self-constructed bailout variable, several binary predictors and firm-specific and macroeconomic control variables. The hypotheses are tested on dataset for period from 2005 to 2013 including observations from seven European countries which received financial assistance program (bailout) from Troika. Every bailout from Troika comes with the requirement for austerity measures and our results suggest that impact of bailouts on SMEs probability of distress are depended on the success of application in individual countries and the impacts are more positive in non euro-zone countries. Keywords Bailout, Financial crisis, Credit risk, SME segment, Distress rate Author's e-mail tothova.simona@gmail.com Supervisor's e-mail rado.parrak@gmail.com
Fiscal Rules in the European Union
Výprachtická, Terezie ; Šmídková, Kateřina (advisor) ; Schneider, Ondřej (referee)
ABSTRACTS PART I - The EMU and its Fiscal Rules This paper treats the fiscal rules of the European Economic and Monetary Union. It begins by introducing this union's inception and by discussing its set of fiscal rules - the Stability and Growth Pact, including its reform. The rationale for policy coordination and the need for fiscal rules in a monetary union are then investigated. The Stability and Growth Pact is then assessed from this point of view. The most important part of the paper is devoted to the analysis of whether the Stability and Growth Pact could be substituted by the disciplining effect of the financial markets. Our findings suggest that there is certain interaction between the financial markets and the governments' decisions on the fiscal policies and that this reaction has become stronger after the beginning of the latest financial and economic crisis. However, the institutional setup and market conditions in the European Union are such that this interaction is biased and thus we conclude that the Union needs to have fiscal rules. JEL Classification: C23, E44, E61, E62, H62, H87 Keywords: European Economic and Monetary Union, Stability and Growth Pact, Financial markets, Fiscal rules, Policy coordination PART II - The Golden Rule of Public Finance and Productivity of Public Capital This...
Globalization and tax competition
Dvořák, Jindřich ; Schneider, Ondřej (advisor) ; Kučerová, Marie (referee)
This thesis describes the globalization process in the industrialized world and the economic issues of globalization. Especially, the tax questions which are connected to the globalization - tax competition within corporate taxation mainly. This thesis deals with historical development of globalization and describes the changing view of society to the role of the state in the economy. Further, it aims its attention not only to the tax situation in the European Union, but also to domestic saving and domestic investment. Separately deals with the new member states. Moreover it examines the international taxation and also describes the corporate tax burden in the selected OECD countries. This thesis brings the latest results of the empirical studies of the tax competition within the European Union and outlines the tax harmonization issues. Powered by TCPDF (www.tcpdf.org)
Evaluation of effectiveness of the EU's regional policy
Luhan, Jiří ; Schneider, Ondřej (advisor) ; Dědek, Oldřich (referee)
Regional Policy of the European Union should lead to decrease deepening of regional disparities, which is present due to ongoing integration and enlargement of the EU. A lot of regional disparities is caused by so called agglomeration forces, which lead to concentration of economic activity in strong centers (agglomeration poles), and which are described by New Economic Geography. This thesis deals with the question if today's Regional Policy of the EU leads to reduce regional disparities. By analyzing regional data and existing empirical studies I point out some failures of this policy and recommend practical steps for the future. Powered by TCPDF (www.tcpdf.org)
The performance of the Czech Private Pension scheme: Current Design and its position within CEE countries
Hlaváč, Jan ; Schneider, Ondřej (advisor) ; Benáček, Vladimír (referee)
This thesis focuses on the comparison of financial performance of the Czech voluntary private pension scheme with five other reformed private pension schemes in the region of Central Eastern Europe (Bulgaria, Croatia, Hungary, Poland and Slovak Republic). The current state and the recent development of the Czech private pension scheme are analyzed in the first part of the thesis. In the main part of this work we construct the dataset of periodic scheme returns covering the last decade, and estimate the schemes Sharpe ratios (SR) for four reference benchmarks. To complement the analysis we also employ the Sharpe style analysis to evaluate the impact of managerial decisions of market selection/timing on the scheme returns. The findings suggest that except for Poland none of the schemes managed to beat its long-term domestic benchmark (10-year government bonds) as the SRs estimates turn out to be negative. The highest underperformance was found in the case of Czech Republic. The results of style analysis suggest a modest positive influence of the active managerial decisions on the scheme returns with respect to the passive investment strategies.

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