We contributed to the empirical evidence of the impact of macroeconomic environment on the non-performing loans (NPL) ratio dynamics by analyzing the panel model with fixed effects, the model with random effects and instrumental variable regressions to control for a potential endogeneity...

In this paper, we examine the stock exchange index returns for the panel of 27 EU countries in the last ten years. Our method of choice is a special kind of tree models, namely model baþed recursive partitioning (MOB). The MOB algorithm uses the generalized M-fluctuation test to examine the...

The objective of this paper is to analyze and compare the fractal structure of the Croatian and Hungarian stock market returns. The presence of long memory components in asset returns provides evidence against the weak-form of stock market efficiency. The starting working hypothesis that there...

The objective of this paper is to analyze dependence structure between the returns of Croatian and five European stock markets (Austrian, French, German, Italian, and the U.K.’s). We propose a copula GARCH approach, where the return series are modeled as univariate GARCH processes and the...

This paper examines the symmetry of correlation of sovereign bond yield dynamics between eight Eurozone countries (Austria, Belgium, France, Germany, Ireland, Italy, Portugal, and Spain) in the period from January 3,2000 to August 31, 2011. Asymmetry of correlation is investigated pair-wise by...

The paper examines the comovement and spillover dynamics between the returns of the Czech and some major European stock markets (namely, the Austrian, French, German, and UK markets, as well as the Central and Eastern European stock markets of Poland, Hungary, and Slovenia). By applying the...

The abstract should summarize the content and conclusions of the paper in less 200 words (Typically around 10 sentences). It should not contain any references or displayed equations. Typeset the abstract in 10 points, italic. Labour market in the NMS is extensive and expanding. Sound...

In the paper we present a BOT (Build, Operate, Transfer) model of financing railway infrastructure development in the Republic of Slovenia. It is characteristic of this form of project financing that the host country or a local community grants a private project company or consortium a...