Grant detail

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

Basic Principles of Banking

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

Insolvency Law

Macroeconomic Environment and Credit Risk

Market Efficiency of Capital Market in Central Europe

Mejstrik M.,K.:Corporate Governance, Ownership Concentration and FDI in CR. In:Corporate Restructuring and Governance in transition Countries (ed.B.Dallago,I.Iwasaki),Palgrave

New Capital Adequacy Standards

NEW METHODS OF CAPITAL ADEQUACY AND ITS VALIDATION

Regulation of Bank Capital and Behavior of Banks: Assessing the US and the EU-15 Region Banks in the 2000-2005 Period

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

The Slovak Insolvency Law Reform 2005

The theory and practice of government credit support

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

5th International Conference on Accounting & Finance in Transition European & Asian Experience and Public Policy Considerations

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
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Insolvency law roundtable and references 24-1-2005
Partial report 2005 in Czech
Slovak insolvency law
Yearly grant report for 2006

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