Předmět Financial Sector Transformation (FIU / PFST)
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Top 10 materiálů tohoto předmětu
Materiály tohoto předmětu
1. Financial systemFinancial system as a complex of financial instruments, financial markets and financial intermediaries. Lenders and borrowers. Transition of savings into investments. The financial system and the real economy.2. Development of financial system during transformationComparison of financial system in centrally planned economy and market economy. Main development trends and reforming steps at early stage of transformation. Cross-country comparison of transformation path.3. Money and financial systemDefinition of money. Controlling the money supply. Demand for money. Money market equilibrium. The transmission mechanism of monetary policy. Governments, inflationary incentives and central bank's independence.4. Monetary policy during transformationDevelopment and changes in monetary policy strategy and implementation. Role and impact of monetary policy during transformation. Comparison of monetary policy of transition countries in Central and Eastern Europe.5. Financial and banking sector structureFinancial and banking sector structure: theory and practise. Comparison of market-based and bank-based financial sectors. Growing number of banks during transition process. Small and large banks. Competition in banking sector.6. Development of banking sector during transformationMain features of the banking sector development in transition countries. Banking crises, credit crunches, bailing out non-performing assets, state assistance in capital increases. Changes of banking practices and banking management.7. Privatisation of banksThe initial economic environment for privatisation. The restructuring of property rights. Forms of privatisation. Large privatisation: theory and practise. Benefits and drawback of privatisation of banks.8. Development and effects of privatisation in transition countriesThe role of banks and non-banking financial institutions in privatisation. Banks privatisation in transition countries. Cross-country comparison of privatisation strategies. Case studies of bank privatisations. Analysis of impacts and effects of privatisation of banks.9. Foreign banks in transition countriesHistorical overview of activities of foreign banks in transition countries. Analysis of mail effects of foreign ownership in banking sector. Current position and market share of foreign banks in Central and Eastern Europe. Overview of the largest and most important foreign banks in the region.10. Mergers and acquisitions in financial sectorDescription of a merger and acquisition. Theoretical concepts, differences, impulses, expected outcomes. Historical overview of the acquisition development in the financial sector. Intra-industry and cross-industry mergers and acquisitions. Comparison of mergers in financial sector and other sector of the economy.11. Mergers and acquisition of banksBanks, branches, and offices. Mergers and creation of value. Bank mergers and acquisition strategies. Reasons/hypotheses for bank mergers. The nature of the acquisition premium. Regulatory concerns: safety, stability, and structure. Case studies of bank mergers in transition countries.12. Foreign direct investment in financial sectorTheoretical framework of foreign direct investment in financial sector. Forms of investment, main reasons and risks. Regulatory and supervision aspects of foreign direct investment. Government attitude to foreign investment in financial sector. Development of foreign investment in financial sectors of transition countries.13. Efficiency of banks and financial institutionsTheoretical concept of efficiency and its application on banks and other financial institutions. Methods of efficiency measurement. Specifications of efficiency analysis in the environment of transition economy. Case studies of efficiency analysis in the region of Central and Eastern Europe.
Knowledge of basic features of financial sector transformation in Central European countries. Understanding of mergers and acquisitions in financial sector, privatization of banks. Ability to analyze efficiency of financial institutions and banks.
POLOUČEK, S. (ed.). Reforming the Financial Sector in Central European Countries. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan Publishers, 2004. ISBN 1-4039-1546-6.STAVÁREK, D., POLOUČEK, S. The Financial Sector in the Enlarging European Union. (1st ed.). Newcastle: Cambridge Scholars Press, 2006. ISBN 1-84718-020-5.BONIN, JP., MIZSEI, K., SZÉKELY, IP., WACHTEL, P. Banking in Transition Economies. Developing Market Oriented Banking Sectors in Eastern Europe. Cheltenham, UK, Northampton, MA, USA: Edward Elgar, 1998. ISBN 1 85898 604 4.SINKEY, JF. Commercial Bank Financial Management. Prentice Hall, 1998. ISBN 0-13-521048-8.MULLINEUX, AW., GREEN, CHJ. (ed.). Economic Performance and Financial Sector Reform in Central and Eastern Europe. Capital Flows, Bank and Enterprise Restructuring. Cheltenham, UK, Northampton, MA, USA: Edward Elgar, 1998. ISBN 1 85898 806 3.Madura, J. Financial Markets and Institutions. Saint Paul etc., West Publishing Company, 1992. ISBN 0-314-87735-5.SAUNDERS, A., CORNETT, MM. Financial Markets and Institutions. A Modern Perspective. Boston etc.: McGraw-Hill Irwin, 2001. ISBN 0-07-234892-5.FABOZZI, FJ., MODIGLIANI, F., FERRI, MG. Foundations of Financial Markets and Institutions.London etc.: Prentice-Hall, 1994. ISBN 0-13-328980-X.DECUETO, C., HÁJEK, L., et, al. Politics and Economics in the Czech Transition. Hradec Králové: Gaudeamus, 2000. ISBN 80-7041-232-1.HOWELLS, P.,BAIN, K. The Economics of Money, Banking and Finance. A European Text. Addison Wesley Longman, 1998. ISBN 0582-27800-7.MEJSTŘÍK, M. (ed.). The Privatization Process in East-Central Europe. International Studies in Economics and Econometrics. Dordrecht-Boston-London: Kluwer Academic Publishers, 1997. ISBN 0-7923-4096-5.
Compulsory attendance at seminars 25 %, seminar paper, seminar discussion (other activities), ongoing test, final exam (written)