402/05/2123 (2005-2007) Efficiency of Financial Markets and New Basel Capital Accord (NBCA)
| Principal investigator: | † prof. Ing. Michal Mejstřík CSc. |
|---|---|
| Collaborators: |
doc. PhDr. Ing. Ing. Petr Jakubík Ph.D. Ph.D. prof. Ing. Karel Janda M.A., Dr., Ph.D. PhDr. Pavel Körner Ph.D. Mgr. Magda Pečená Ph.D. doc. JUDr. Tomáš Richter LL.M., Ph.D. prof. PhDr. Petr Teplý Ph.D. |
| Description: | The main objective of the project was the analysis of the efficiency of broadly defined financial markets within their institutional framework. It was focused on a complex of three mutually overlapping areas – financial markets in a narrow sense, banking, and relevant corporate governance. Our unifying methodological approach was the theory of information in the risky environment of contractual transactions (“economics and law approach”). In the area of financial markets we concentrated primarily on information efficiency and risk management. In the area of banking we emphasized the measurement of risk and efficiency, in particular the impact of New Basel Capital Accord (NBCA/Basel II). The corporate governance part of the project dealt with optimal mechanisms of enforcement, supervision, and regulation of financial markets in a broader European perspective. It was also concerned with optimal bankruptcy procedures as related to financial markets and banking. The results of the project were presented at research workshops and conferences and published in refereed journals and publications specially dedicated to this project. Ph.D. students at IES FSV UK were significantly involved in this project. The grant has been selected by GACR subcomittee for economic studies (POK 402) as best project of 2007. Academic forum of international organization INSOL Europe, representing European theoreticians in insolvency law, awarded its second prize to the book of Tomáše Richtera "Insolvency law", issued in Prague 2008 by ASPI Publishing house. INSOL Eurpoe Edwin Coe Prizes for Outstanding Legal Scholarship were awarded for exceptional results in insolvency law. (The first prize received the secpnd printing of book of Philipa Wooda "Principles of International Insolvency", publisjed in London 2008 Sweet & Maxwell Publ.house). One of grant researchrs and economist of Czech antional bank Petr Jakubík was winning in 2008 international competition of prestige award of Institutu of financial stability that is part of Bank for international settlement in Basel. This prize is awarded each second year (since 2002) to the authors for the best contribution in the field of financial regulation and supervision. The prize is awarded by governors and other important bankers worldwide. |
| Participation: | Aleš Čapek (konzultant grantu z ČNB) v prvnim roce grantu, prof. Oldřich Dědek ve druhém a třetím roce grantu. V roce 2007 v souladu se schválením GAČR namísto mgr.Soni Benecké působí v grantu PhDr. Ing. Petr Jakubík, Ph.D. |
| Work in grant: | Viz seminar http://ies.fsv.cuni.cz/index.php?module=sylab&action=sylab&id_sylab=133&lng=cs_CZ |
| Web link: | http://ies.fsv.cuni.cz/index.php?module=sylab&action=sylab&id_sylab=133&lng=c... |
| Finance: | GAČR - Czech Science Foundation Grant byl vyhodnocen jako nejlepší produkt subkomise GAČR pro ekonomické vědy POK 402 za rok 2007 |
| End date: | 31.12.2007 |
| Publications: | A Comparison of Market Effectivness of Stock Markets in Central Europe and USA An Alternative Approach to an Analysis of the Czech Banks' Financial Statements Analysis of the Budgetary Costs of the Supporting and Guarantee Agricultural and Forestry Fund Credit Risk in the Czech Economy Česká úvěrová podpora zemědělství: analýza prvních deseti let Determinants of corporate financing decisions: a survey evidence from Czech firms Implications of the New Basel Capital Accord for European Banks Information Efficiency in Central European Equity Markets Information Efficiency in Central European Equity Markets Information Efficiency of Central Europe Stock Exchanges Information Efficiency of Central Europe Stock Exchanges Macroeconomic Environment and Credit Risk Market Efficiency of Capital Market in Central Europe New Capital Adequacy Standards NEW METHODS OF CAPITAL ADEQUACY AND ITS VALIDATION Reorganization under the Insolvency Act - Part I. and II. The banking stability in the Czech Republic based on discriminant and cluster analyses The Comparison of Credit Subsidies and Guarantees in Transition and Post-Transition Economies |
| Conferences: | 22nd European Conference on Operational Research EURO XXII 22nd European Conference on Operational Research EURO XXII 4th Biannual Conferrence of the Czech Economic Society 93rd Seminar of the European Association of Agricultural Economists Adopting new insolvency coat: the end of one way and the beginning of the other ELBF workshop (Operational risk - economic capital), Czech Republic European Corporate Finance Summit Future of Banking after the Year 2000 in the World and in the Czech Republic Managing Economic Transition (MET) – 17th international Workshop of MET academic network PricewaterhouseCoopers Insurance workshop Science, Research, Innovations Science, Research, Innovations (M. Hrdy) Science, Research, Innovations, Slovak Republic The Annual Conference of the Czech Economic Society The International Banking Workshop, New Zealand Theoretical Aspects of Emerging Economies III, Slovak Republic |
| Downloadable: | 104_040401gacr-castc2004cze.pdf Final report for 2005-2007 foto10_round_table foto1_round_table foto2_round_table foto3_round_table foto4_round_table foto5_round_table foto6_round_table foto7_round_table foto8_round_table foto9_round_table Insolvency law roundtable and references 24-1-2005 Partial report 2005 in Czech Slovak insolvency law Yearly grant report for 2006 |
