Journal of Economics - Obsahy ročníkov

The fading financial and economic crisis in American and European territories has stressed the need to look at our current economic growth model through a new lens and to exploit new possibilities that are based on environmental and social sustainability. The crisis has created concrete opportunities for promoting a transition to green jobs and industries within the framework of Green Growth Strategy.This paper focuses on issues related to the impact of environmental policy on the labour market. The first part deals with the common understanding of the Green Growth Strategy, its objectives and priorities. The second part summarizes the main methodological problems connected with the impact of environmental policy on employment, and the third part analyzes data about the interaction mentioned above in the Czech Republic. The paper concludes by characterizing the possible trends associated with the Green Growth Strategy, namely the impact of environmental policy on the labour market. Keywords: green growth strategy, environmental policy, employment, eco-industry JEL Classification: Q52, Q56, J21, O44

The paper focuses on the EU budget reform and defines structure and principles of the reformed expenditure side of the EU budget which supports political goals and priorities of the EU. It compares past reform proposals and up-to-date proposal of the multiannual financial framework published in June 2011. Based on the theory of fiscal federalism and Strategy Europe 2020 it is outlined what should be done in the future to meet the challenges of the new economic situation. Keywords: EU budget, EU budget expenditures, multiannual financial frame-work, redistribution, finance JEL Classification: G38, H61, H72

The goal of the paper is the analysis of value ratio of intangibles on businesses income value. The hypothesis is verified on the stratified sample geographically limited to NUTS 0 Czech Republic. At the first stage the material and methods are discussed on the bases of theoretical research. In addition values of the sample of businesses are estimated via Costs Approach and Excess Earnings Method. In fine, econometrics research findings results to articulation of significant increase in ratio of intangibles on income value of businesses in the Czech Re-public since 1995 to 2005 and the implications for future research are discussed. Keywords: value, business valuation, intangibles, excess earnings method, direct capitalization method JEL Classification: G12, D46, M20

The segment of small and medium-size enterprises makes 50% of added value and 70% of employment in Slovakia. This was the reason why we decided to make a research about the problems of small and medium-size enterprises with obtaining financial resources. The achievement of research is writing factors which influence companies when they obtain resources. The most important factors are information, interest about new information, needed capital, experiences with doing business plan, and another. The conclusion of research is application of solving system, which should small and medium-size enterprises to make easier with obtaining financial resources. Keywords: financial resources, small and medium-size enterprises, debt financing, alternative financial resources JEL Classification: G11, G32

The polycentricism concept as the instrument and concept of territorial governance is broadly discussed as the development in the EU brought high concentration of economic activities and population in the central space of pentagon and this concentration seems to be supported by the integration processes and EU enlargement. Existing disparities between metropolitan areas and peripheral regions are multiplied by the differentiated benefits of multifunctional land-use. The concept of spatio-structural polycentricism in the combination with the concept of territorial capital and polycentric governance has ambitious to contribute to the development of new spatial quality in the EU. Keywords: polycentricity, governance, spatial planning, multifunctionality JEL Classification: R50, R58

The paper discusses factors influencing firm's ability to manage innovation. Authors investigate functional relationship between new product introductions and organizational learning, innovation processes, innovation strategies and external and internal innovation sources. After surveying 102 firms knowledge on success factors that drive new product development and commercialization were identified. The findings demonstrate that significant differences exist be-tween innovators and non-innovators in use of innovation processes, specific external knowledge sources, property rights protection, and product innovation focus. The study shows the need of different approach to manage radical and incremental innovations and leads to developing a model to implement radical innovation strategy and subsequent processes inside a firm. Keywords: product innovation, innovation process, innovation strategy, success factors JEL Classification: O30, M10