International Conference on Finance and Banking

	Title page
	Contents	iv
	Preface	1
Alin Marius Andries Bogdan Capraru	How Does EU Banking Competition Impact Financial Stability?	3
Jauhary Arifin Normansyah Syahruddin	Volatility Spillovers between Equity and Currency Markets in ASEAN-5 Countries during Crises	12
Uzma Ashraf Douglas W. Arner	The Need for Consolidating International Financial Regulatory Architecture	24
Vlastimil Beran Ji�ina Kraj�ov� Viola �ebest�kov�	Economic Causes of Unemployment	37
Corina Berica	The Absorption of the Structural Funds in Romania in the Context of the International Financial Crisis	49
Beata Blechov�	The Influence of Tax Policy on the Emergence of Financial Crisis	59
Petre Caraiani Cristina Visan	Do Monetary and Financial Variables Cause Real Economic Activity? Empirical Evidence from Multiscale Decomposed Series from Romanian Economy	71
Jan �ernohorsk� Petra �obotn�kov� Petr Tepl�	The Challenges of Basel III for the Czech Banking Sector	84
Dimitrios Dapontas	The Euro�s Next Day Scenarios. Break Up or an OCA Scheme?	100
Oleg Deev Veronika Kajurov�	The Relationship between Czech Republic�s Stock Market and Stock Markets of its Major Trading Partners: the Impact of the Global Financial Crisis	109
Magdal�na Drastichov�	The Assessment of Convergence in the EU Using the Optimum Currency Area Index	121
Kate�ina Dvorokov� Jana Kov��ov� Monika �ulganov�	Impact of the Financial Crisis on the Convergence of the Czech Economy with the Euro Area Economy	136
Kamil Dybczak Martin Meleck�	Macroeconomic Shocks and the Fiscal Stance within the EU: A Panel Regression Analysis	150
Mihaela G�nd�r Vasile Paul Bresfelean	Study on the Impact of Fiscal Policy on Capital Markets in EU Countries During Actual Financial Crisis	160
Tom� Gongol	The Position of Financial Arbitrator among Other Alternative Dispute Resolutions	172
Peter Haiss Bernd Schicklgruber	An Application of the Adapted Fink Country Scoring Model on Portugal, Italy, Greece and Spain � Country Risk of the Weaker Euro Zone Members and Implications	179
Pavl�na Haltofov�	Which Factors Influence to the Financial Resources of NGOs in the Czech Republic in Last Years?	212
Tom� Hery�n	Relationship between Loans Granted and Interest Spreads in the UK: Empirical Research on Panel Data from 2001-2011	219
Karel Hlav��ek	Development of World Coal Market during the Financial Crisis of 2008 � 2010	229
Alexandra Horobet Alina Draghici Laura Gabriela Constantin	Currency Risk Hedging in Times of Crisis: An Analysis of European Portfolios	237
Dennis Chung Karel Hrazdil	Speed of Convergence to Market Efficiency: The role of ECNs	249
Filip Chybalski	The Resilience of Pension Systems in the CEE Countries to Financial and Economic Crisis: The Need for Higher Diversification	258
Bogdan Ilut Dan Chirlesan	Measuring the New EU Member States Banking Integration Process in a Crisis Environment	268
�zcan Karahan Olcay Colak	Financial Capital Inflows and Exchange Rate Instability: The Case of Turkey	280
G�bor D�vid Kiss Attila �cs	Time Value of the Money and Contagions on the Bond Markets	291
Lud�k Kouba Ladislava Grochov�	Financial Crisis, Political Instability and Economic Growth	305
Veronika K�elinov� Pavla Vanduchov� Viola �ebest�kov�	Reducing the Unemployment Rate in the Czech Republic with the Support of an Increased Interest in the Doing Business of the Unemployed Inhabitants	318
Jan Libich Dat Thanh Nguyen Petr Stehl�k	Monetary Exit Strategy and Fiscal Spillovers	325
Ale� Lokaj	Global Imbalances as the Cause of the Crisis?	355
Iulia Lupu	Emerging European Stock Markets Integration by Means of Volatility	362
Radu Lupu	Stock Market Comovements of the Emerging European Stock Market Returns	372
Ingrid Majerov�	Global Financial Crisis and its Impact on the Least Developed Countries	383
Ji�� Mazurek	Comparison of Impacts of the Financial Crisis on the Czech Republic Regions by Cluster Analysis	396
Ale� Meleck� Martin Meleck�	Analyzing the Impact of Macroeconomic Shocks on Public Debt Dynamics: An Application to the Czech Republic	405
Elena Mielcov�	Impact of Financial Crisis on European Households	416
Laura Raisa Milos Marius Cristian Milos	Impact of the Financial Crisis on the Pension System Reform. Lessons from Central and Eastern European Countries	427
Peter Mokri�ka Petr �ervinek	The Financial Crisis and Trading in Structured Products	438
Rosario Monter	Some Lessons Learned from the Spanish Financial Crisis	446
Simona Mutu Vasile Paul Bresfelean Mihaela G�nd�r	The Impact of the Financial Crisis on the Interbank Money Markets Behavior. Evidence from Several CEE Transition Economies	453
Danu�e Nerudov�	Common Consolidated Corporate Tax Base: Sharing the Tax Base under Formulary Apportionment	463
Harold Ngalawa Fulbert Tchana Tchana Nicola Viegi	Banking Instability and Deposit Insurance: The Role of Moral Hazard	473
Figen �z�lke	The Effect of Consumer Loans on the Current Account Balance in Turkey (2005 � 2011)	489
Daniel Traian Pele	Uncertainty and Heavy Tails in EU Stock Markets before and during the Financial Crisis	501
Zenovia Cristiana Pop Vasile Paul Bresfelean	Impact of the Financial Crisis on the Romanian Microfinance Sector � Results from a Case Study	513
Kate�ina Randov� Michal Kraj��k	Hypotheses Testing of Impacts of Reduced VAT Rates Application on Locally Supplied Services on their Providers in Accordance with the European Union Law	520
Petra R��kov�	Profitability as Basic Criterion of Efficient Management in Context of Crisis Development	531
Michal R��i�ka Monika Hromasov�	Analysis of Causes of Economic Crisis	540
Alina Camelia Sargu Angela Roman	Financial Innovation and the Romanian Banking Sector Efficiency in the Context of the Financial Crisis: Foreign versus Domestic Banks	548
Jaroslav Sedl��ek Eva H�blov� Zuzana K��ov�	Analysis of the Development of Ownership Structure in the Czech Merger Market	566
Ahmet Sengonul Suleyman Degirmen	Does the Recent Global Financial Crisis Affect Efficiency of Capital Markets of EU Countries and Turkey?	575
George-Laurentiu Serban-Oprescu Grigore Pirosca Teodora Serban-Oprescu	The Trade-off between Austerity and Growth during the Post-crisis Economic Recovery	590
Mitchell Stan	Learning Lessons from the Crisis: Relative Risk of Canadian Compared to American Banks	599
Daniel Stav�rek	Exchange Rate Volatility of US Dollar and British Pound during Different Phases of Financial Crisis	609
Ovidiu Stoica Delia-Elena Diaconasu	Analysis of Interdependencies between Austrian and CEE Stock Markets	616
Ovidiu Stoica Delia-Elena Diaconasu Roxana Scantee (Enescu)	Financial Supervision in Central and Eastern Europe	628
Franti�ek Sudzina	Motives for Barter: A Literature Review	636
Irena Szarowsk�	Government Expenditure Connection to Economic Performance in the Czech Republic	642
Jana �im�kov�	Analysis of the Relationship between Oil and Gold Prices	651
Petra �obotn�kov� Petr Tepl�	Procyclicality in Basel III in the Visegr�d Countries	663
Behrouz Tabrizi Zeina Al-ahmad	The Role of the US Fed in Shaping the Great Recession 2007-09	686
Petr Tepl� David Tripe	The Impact of the Global Crisis in Central European Countries and Lessons for and from New Zealand	694
Ana-Maria Tepus Elena-Adriana Andrei	The Impact of Financial Crisis on the Relation between the Stock Market and the Real Economy	709
Tom� Tich� Michal Hol�apek	Option Pricing with Imprecisely Stated Volatility: A Fuzzy-random Approach	723
Ivo Vesel�	Comparison of Social-demographic and Economic Indicators in the Shrinking Process of Cities	733
Pavla Vodov�	Determinants of Commercial Bank�s Liquidity in Slovakia	740
M�ria Vojtkov�	Implication of Carry Trade on Monetary Policy during the Financial Crisis	748
Ilkay Noyan Yalman Ferhan Demirkoparan Ozan Aras	Financial Crisis Impact on SMEs and SMEs Strategies during Economic Crises: A Case of Sivas Province	759
Robert J. Balik	Evaluating Quantitative Easing using Event Studies	769
Michaela Roub��kov�	Does the Existence of the Majority Owner Have Impact on Dividend Policy of the Czech Companies?	776

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