Journal of Economics - Obsahy ročníkov

The aim of the article is to find out the location factors of non-public higher education institutions in Poland after 1989. The logistic regression was used to meet this goal. Five sets of variables were selected for the initial stage of analysis. These were: population of the town and its hinterland, distance to the nearest academic centre, education level of inhabitants, local authority revenue and the existence nearby of other, potentially competing colleges. The analysis proved that the most important location factor of non-public higher education institutions was the existence of other, potentially competing colleges in the vicinity. This means that in the development of the network of non-public higher education institutions in Poland a key role was played by the „filling” of spatial niches on the education market. Keywords: location factors, non-public higher education, Poland, regression analysis, spatial market niches JEL Classification: I21, R39

The paper presents a possible approach to the modelling of waste incinerators deployment in Slovakia within the purview of Green and Reverse logistics. Uneven distribution of certain waste incinerators types in the SR may lead to the efficiency reduction in waste collection and disposal. Building up the effective network of waste collection sites and waste incinerators depending on a type of waste and a number of separated components, this presumes to satisfy the requirements of acceptable availability. In this process, there can be as effective tools applied the location models, based on the theories and methods of Mathematical programming. In this paper is applied the group of location models so as to optimise the deployment of waste incinerators. Keywords: Green Logistics, Reverse Logistics, optimisation, location models, mathematical programming, deployment of waste incinerators JEL Classification: C02, M11, O13, Q57

The current financial crisis has again highlighted the relationship between value and price of financial instruments. This article is therefore devoted to the problems of modern methods of assessing one of the leading securities-shares. A method in a number of current theory and practice developed markets and expert practice in Slovakia, the yield method. The most commonly used models are variants of free cash flow models. The authors of the recommended use of free cash flow models in the categories of the key value driver formula. At the same time proposing a new method to yield a model that would use newly created value to the company as a form of income. Keywords: shares, value, price, intrinsic value, method of valuation JEL Classification: C52, E44, G12

The article deals with the Balanced Scorecard (BSC), the system that reacted to the criticized explanatory ability of the value criteria for measuring the performance of an enterprise. The change, which was brought by this concept, was the extension and linking of performance measurements of purely financial indicators to indicators from other perspectives of enterprise's activity. Besides theoretical review of BSC, its characteristics, evolution, reasons for and benefits of the application, we present the results of the first exhaustive survey in Slovak firms implementing BSC and their clients – companies with deployed BSC systems. We conclude with the comparison of our findings and the research results of renowned American Balanced Scorecard Institute. Keywords: Balanced Scorecard, BSC, Strategic business management, KPI, CPI JEL Classification: M19

Intensification of competition at the market requires paying more attention to marketing communication issues. Marketing communication based on effective communication strategy including the using of optimal communication mix can be considered just as a source of competitive advantage for service-base enterprises in tourism, too. That is why we focused our research on this issue. The article presents partly results and conclusions of theoretical research and also empirical survey of marketing communication of service-base enterprises in tourism from region Liptov. In the last part of the article we present one of the options or ways how to optimize decision-making process of the marketing communication tools choosing or the optimal communication mix compilation. We give the example of the application of multi-criterion valuation of more variants/alternatives. Decision making process is supported by programme Expert Choice. Keywords: marketing communication, communication mix, creation, optimization, tourism JEL Classification: M31

The aim of the paper is to assess advantages and disadvantages of the policy of railway separation (unbundling) of infrastructure and services. The policy of vertical unbundling is an attempt to introduce competition into the provision of railway services. The vertical unbundling strategy in railways has been strongly advocated by the European Commission as a possibility to increase competition and efficiency in this sector. The strategy has been applied since the beginning of 1990’s in many European countries with varied energy, depth and timing. An evaluation of vertical unbundling strategy reveals both positive and negative aspects. On the positive side there are clear indications that introduction of reforms has improved efficiency. But it is evident that power of competition has significant limits in railways due to numerous specifics of this unique industry. If the unbundling policy has more advantages than disadvantages is subject to debate but there are strong indications that there are also other possible ways of combating inefficiencies in the railway sector. Keywords: railways, natural monopoly, unbundling, infrastructure JEL Classification: D23, D24, L92, R41