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Economic Analysis of Law in the Field of Liability for Damage
Przeczek, Michal ; Bažantová, Ilona (advisor) ; Borkovec, Aleš (referee)
Economic Analysis of Law in the Field of Liability for Damages This thesis focuses on the application of economic analysis of law, which is an approach enabling an alternative view of legal institutions because of its specific methodology. Although this theoretical school originated in the common law system, which is still its realm, the thesis shows potential overlaps to the system of civil law. Questions concerning civil liability for damages are examined as an example of a possible application. The initial chapter of the thesis is concerned with introducing the economic analysis of law. At first, it briefly describes its historical development including links to some related schools. Foundations, areas of resesarch, basic concepts and methodology are also examined in this chapter. The specific application of economic approach in relation to civil liability for damages is discussed in the second part. It describes the choice between negligence and strict liability, problem of causation and procedural aspects of claims for compensation for damage. Special attention is drawn to the Learned Hand test established by case-law as a method to assess the conditions of liability. This method is based on considering economic criteria using a cost analysis. The part dealing with behavioral findings extending...
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The status and the role of central banks in the EU
Malíčková, Jana ; Bažantová, Ilona (advisor) ; Borkovec, Aleš (referee)
RESUMÉ - THE STATUS AND THE ROLE OF CENTRAL BANKS IN THE EU This diploma thesis compares the Czech National Bank, the Slovak National Bank, the Bundesbank and the European Central bank. Central banks play a significant role in every state and they have big influence on economy of each state. Therefore, their legal regulation as well as precise definition of their competencies are essential. The thesis focuses on their establishment, legal base and legal form, organisation and independence (institutional, financial, personal and functional). Its aim is also to compare tasks, monetary policy, issuance of banknotes and coins, banking and financial regulation and supervision. Establishment of a central bank depends significantly on the historical background of the given state (or union). All of the described banks are settled in regulations of the highest legal importance on the particular state (or union), which is not usual, and also in many other legal acts. Members of the highest body are selected after the agreement of the legislative and executive powers. The Czech National Bank is an exception, since the members of its Bank Board are appointed by the president without a counter signature. The budgets of the central banks are separated from the states' budgets and they are approved by the central banks....
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The issue of money laundering from the perspective of Czech law and legal practice
Foukalová, Zuzana ; Hraba, Zdeněk (advisor) ; Borkovec, Aleš (referee)
A B S T R A C T This diploma thesis deals with the issue of money laundering. This is a worldwide phenomenon, whose main aim is to disguise the true origin of the funds derived from criminal activity. It has strong potential to disrupt the functioning of the national economies of individual states, and at the same time undermine confidence in the financial and banking system as a whole. Therefore the efforts of the states and international organizations in preventing money laundering are not surprising. The first chapter is explaining the concept of money laundering with the most common semantic connotations including its legal definition. Then the thesis moves to the analysis of different stages and methods of money laundering with the focus on current trends as a virtual currency Bitcoin or trust funds. The third chapter is devoted to analysis of current legislation, both in the Czech Republic and also in the European Union and in the international arena in general. Chapter Four provides a comprehensive overview of the authorities responsible for combating money laundering as a Financial Analytical Unit, Czech National Bank or the Police of the Czech Republic. Following practical part is devoted to detail individual bank measures against money laundering. In this chapter I will try to capture how the...
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Dispersed Ownership of Shares
Borkovec, Aleš ; Dědič, Jan (advisor) ; Štenglová, Ivanka (referee) ; Dvořák, Tomáš (referee)
Two different systems of corporate governance globally coexist - the concentrated ownership system and the dispersed ownership system. The dissertation focuses on the history of companies and large economic entities. Attention is also paid to the relationship between the state and corporations. The importance of the first regulation of joint stock companies is discussed as well. Governance of large corporations is described and analyzed. The presented non-legal reasons for the existence of two systems of corporate governance are also summarized. Particular attention is paid to the legal preconditions for the dispersed ownership. Common law and civil law are compared. The differences in law of corporations (company law) are extensively analyzed - co-determination, fiduciary duties, piercing of corporate veil, board and independent directors. Detailed attention is focused on executive pay (remuneration / compensation).
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D&O (Directors and Officers Liability) insurance of members of a joint stock company bodies
Hřeben, Tomáš ; Borkovec, Aleš (advisor) ; Hraba, Zdeněk (referee)
The topic of the submitted diploma thesis is the directors and officers liability insurance of members of a joint stock company bodies and its aim is to analyze this insurance product and to evaluate possibilities of its use in domestic conditions. This theme is topical because of the recent financial crisis as well as with regard to the recodification of the Czech private law which resulted in demanding more requirements on members of a joint stock company bodies during performance of their office and most importantly the danger of guaranty for obligations of company in accordance with the provision § 68 of the law on commercial corporations constitutes a really big threat for members of a joint stock company bodies. In order to understand the dangers from which the insurance should protect, first of all the first chapter is dedicated to basic characteristics of joint stock company and mainly to duties of members of a joint stock company bodies which are divided into two groups in this thesis - fiduciary duties (duty of due care, duty of loyalty, duty of secrecy, prohibition of competition, duty of personal performance of office) and so called "technical" duties. In the next chapter there is briefly examined the legislation of liability and compensation for damage where these issues are consulted...
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Regulatory rules issued by the Basel Committee on Banking Supervision
Beneš, Ondřej ; Dupáková, Lenka (advisor) ; Borkovec, Aleš (referee)
This thesis deals with the regulatory rules issued by the so-called. Basel Committee on Banking Supervision. It is an informal organization without legal personality, which operates at the Bank for International Settlements, and her published documents lack legally binding. This work has focused on two areas of activity of the Basel Committee - capital adequacy and corporate governance in the banking sector. Basel Committee on Banking Supervision is a leading authority in the field of banking regulation, which dates back to the mid-70s of the 20th century. The Basel Committee is composed of the governors of the central banks of the member states and organizations and currently represents a major authority in the banking, because the content of the documents of the Basel Committee incorporated into their legal systems for more than 100 countries worldwide. Basel Committee began issuing complex documents capital adequacy in July 1988, when the first document was posted under the abbreviated name of Basel I. Although it was a very imperfect adjustment and largely based on compromises rather than deeper analysis, Basel I meant the first major step towards supranational control of the capital adequacy of banks in order to eliminate the risks arising from their activities. Although, as with other...
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The regulation of the rating agencies
Búry, Tomáš ; Borkovec, Aleš (advisor) ; Hraba, Zdeněk (referee)
The Regulation of Credit Rating Agencies The thesis is concentrated on the regulation of credit rating agencies and aims to contribute to a current discussion regarding the future of credit rating agencies. A primary focus of the work was to explore whether a negative role of credit rating agencies in current crisis was caused by their insufficient, unnecessary or unsuitable regulation. An evaluation of sufficiency of newly adopted regulation with respect to the effective functioning of the rating market was chosen as an additional purpose of research. For the fulfillment of the stated aim analytical and comparative methods and synthesis were used. The style of the thesis falls within the Law and Economics approach. The research is based on EU and US legal norms, legislative documents of the European Commission and legal jurisprudence. Part I describes the emergence, development and the functioning of credit rating agencies, structure of rating market and legal meaning of the rating. Part II analyzes the ratio for regulation of credit rating agencies from the perspective of economic analysis of law. Mainly, whether agencies fulfill their function, what could potentially restrain them and how can be regulation helpful in this field. Part III compares and examines current regulatory reform of credit...
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Comparison of monetary policies of selected central banks
Zlatý, Petr ; Borkovec, Aleš (advisor) ; Hraba, Zdeněk (referee)
This thesis compares monetary policies, institutional status and different approaches to the selection of monetary policy and setting goals of central banks in the case of Czech National Bank, the European Central Bank and the Federal Reserve System. The first chapter deals with the characteristics of the central bank, legislative regulation of the Czech National Bank is analysed there and it mentions the Czech peculiarities in the adjustment of the central bank. In addition, this chapter deals with the possibilities for the name of the central bank and there are examples of different solutions from the world. The second chapter focuses on the analysis of the central bank's position in the state. It emphasise independence as it is the core value for the central bank. This chapter also describes the regulatory and supervisory powers of the central bank and briefly discuss the composition of assets and financing of the central bank and its basic financial statements. The third chapter deals with the theory of monetary policy. Particular attention is paid to the monetary policy of inflation targeting. Furthermore, this chapter provides an overview of transmission mechanisms and describes various monetary policy instruments which central banks have. At the end of this part of the thesis there is a...
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Bankruptcy: The role of business valuation"
Kumsta, Zdeněk ; Borkovec, Aleš (advisor) ; Hraba, Zdeněk (referee)
v anglickém jazyce (summary overview) Diploma thesis Bankruptcy: the role of business valuation focuses on intersection of two disciplines - Business valuation and Bankruptcy law - the field still not widely discovered and depicted. The main aim is to reveal and organize main themes of business valuation connected to bankrupcy based on property overbudren with debt. As the case may be, solution propsal. Thesis describes, both in economical and legal point of view institute of insolvency , type of bankruptcy - overbudren with debt, methods of business and property valuation, reveal and organization of main themes of business valuation connected to bankrupcy based on property overbudren with debt - themes connected to the stage before the bankruptcy is declared and themes connected to the stage after bankruptcy declaration. Main themes are analyzed and solved. Part of the thesis is synthesis still. Analysed intersection is characterised by group of mainly heterogeneous problems, in common, described as problems solvable with similar instruments of solution. Both groups - insolvency law and business valuation are relatively young disciplines with wider, significant areas still unsettled and alive. Main themes of business valuation associated to bankruptcy based on property overbudren with debt -...
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Monistic structure of a joint-stock company
Vrána, Lukáš ; Borkovec, Aleš (advisor) ; Hraba, Zdeněk (referee)
IN ENGLISH: This thesis is focused on the monistic structure of joint-stock companies. The aim of the thesis is to analyse board structures in selected countries, subsequently to identify the features which are typical for a monistic governance structure and, finally, to compare these findings with statutory provisions in the Act on Commercial Corporations. The thesis is divided into seven separate chapters. Chapter One is subdivided into two parts. Part One is an introduction to the topic and attempts to define the term corporate governance. Part Two explains the importance of internal company structure for corporate governance. Chapter Two analyses board structures in Great Britain, the United States, France, Italy, Switzerland, the Netherlands, in the Czech version of Societas Europaea and also, for the purpose of comparison, the typical dualistic internal corporate structure known from Germany. The subjects of the analysis are the relevant statutory provisions on the one hand, and the functioning of governance structures in practice on the other hand. Chapter Three identifies features which are typical for monistic company structure, particularly the existence of a single board of directors which performs a strategy-setting function as well as supervision of management. Chapter Four discusses...
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