Acta Oeconomica Pragensia, 2019 (vol. 27), issue 3-4

Original contributions, Original article, Research article

Experimental Use Of a Market-Based Approach to the Efficient Allocation of Resources within the Government Budget

Vladimír Štípek

Acta Oeconomica Pragensia 2019, 27(3-4):3-16 | DOI: 10.18267/j.aop.624  

The aim of this article is to test the possibility of a more efficient allocation of resources using market tools when proposing the government budget. The tool is the distribution of ownership rights when designing individual chapters of the budget at the specific stage of the government budget finalisation. The assumption is that the exchange of ownership rights between the individual chapters would lead to a more efficient allocation of resources than mere negotiation. The precondition is the correct setting for such negotiation. For this reason, the article uses an economic experiment in which three budget chapters of expenditure (industry, education,...

Insolvency Forecasting through Trend Analysis with Full Ignorance of Probabilities

Tomáš Poláček, Markéta Kruntorádová

Acta Oeconomica Pragensia 2019, 27(3-4):17-30 | DOI: 10.18267/j.aop.625  

The complex views of insolvency proceedings are unique, poorly known, interdisciplinary and multidimensional, even though there is a broad spectrum of different BM (Bankruptcy Models). Therefore, it is often prohibitively difficult to make forecasts using numerical quantifiers and traditional statistical methods. The least information-intensive trend values are used: positive, increasing, zero, constant, negative, decreasing. The solution of a trend model is a set of scenarios where X is the set of variables quantified by the trends. All possible transitions among the scenarios are generated. An oriented transitional graph has a set of scenarios as...

Value Preferences and Frustration in the Workplace

Martina Glaserová

Acta Oeconomica Pragensia 2019, 27(3-4):31-44 | DOI: 10.18267/j.aop.626  

A long-term personnel crisis, especially among nursing staff, has been tormenting the Czech healthcare sector despite the fact that average salaries are continuously increasing. Therefore, the financial remuneration factor is not decisive for employee retention. There are a number of other factors influencing the turnover rate, such as job satisfaction and the role of clarity although this paper deals with the influence of value preferences. The aim of the study was to map the value preferences of employees in two departments of a selected healthcare facility. Technical staff members work for the first department while the other department involved...

Family Business – Sustainability Model

Petr Svoboda

Acta Oeconomica Pragensia 2019, 27(3-4):45-60 | DOI: 10.18267/j.aop.627  

Family firms form a considerable global economic pillar and have a long tradition. Due to their restricted ownership structure and extended value structure, they deal with specific managerial challenges. In comparison with their generally owned competitors, family firms tend to be more stable, accountable and trustable. On the other hand, they have to combine private and business life, deal with succession issues and the relative closeness of the top management while resolving nonstandard governance mechanisms. The main objective of this paper is to propose how to create a dynamic model that can further propose viable strategies for the long-term sustainability...

Crisis Management Process – A Literature Review and a Conceptual Integration

Veronika Vašíčková

Acta Oeconomica Pragensia 2019, 27(3-4):61-77 | DOI: 10.18267/j.aop.628  

The 21st-century business environment requires permanent crisis management. Nowadays, managers seek to deal with a potential crisis effectively, with minimum losses or to avert the potential crisis in the best case. It can be noted that crisis managers must react proactively. Crisis management (CM) can be generally characterised as sets of approaches, measures and methods used in situations where managerial skills are no longer sufficient. The goal is obvious: minimise the impact of the crisis or avoid a potential crisis. The purpose of this paper is a literature review of crisis management approaches and, based on its summarisation, to propose a conceptual...

Public Transport – Effectivity of Costs and a Specific Case Description

Ondřej Prchal

Acta Oeconomica Pragensia 2019, 27(3-4):78-84 | DOI: 10.18267/j.aop.629  

Public transport is one of the driving forces of economic development; therefore, development and sustainability are required. In most cases, public transport operation is only possible with the help of public budgets, which in turn results in pressure from customers regarding efficiency. This article deals with the issue of public transport, especially in the Czech Republic, its sustainability and overall development. After an evaluation of the current situation for one specific case and possible future development, the author describes the basic survey conducted among passengers and outlines the possibilities for further development. The author made...

Bernard Bolzano – Utopian Visionary

Pavel Sirůček, Jaroslav Šetek

Acta Oeconomica Pragensia 2019, 27(3-4):95-104 | DOI: 10.18267/j.aop.631  

Bernard Bolzano was not merely a mathematician of the European format. He was also a critical social thinker whose work has distinct economic dimensions. This is why he rightly appears in the overviews of the beginnings of Czech economic thought. He began writing his work “About the Best State” 210 years ago, which made him the most famous Czech utopian. The half-forgotten Bolzano legacy, which is still alive and ahead of its time in many respects, recalls this text.

Point of view, Perspective, opinion and commentary

A Discussion Paper on Accounts Payable Ratio

Cenap Ilter

Acta Oeconomica Pragensia 2019, 27(3-4):85-94 | DOI: 10.18267/j.aop.630  

Generally speaking, financial accounting textbooks are in harmony on the explanation of accounts payable and accrued liabilities/expenses. However, the same thing cannot be said for accounts payable turnover and days in accounts payable ratios. Different financial accounting textbooks and academic papers have different explanations for the accounts payable turnover ratio. The extant literature on the ratio is mainly comprised of two groups of authors. The first group relates the ratio to purchases and the second group relates the ratio to cost of goods sold (COGS). Purchases, in a purely theoretical sense, relate to periodic inventory method, whereas...