New Trends in Finance and Accounting Proceedings of the 17th Annual

This book presents the most current trends in the field of finance and accounting from an international perspective. Featuring contributions presented at the 17th Annual Conference on Finance and Accounting at the University of Economics in Prague, this t

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David Procházka Editor

New Trends in Finance and Accounting Proceedings of the 17th Annual Conference on Finance and Accounting

Springer Proceedings in Business and Economics

More information about this series at http://www.springer.com/series/11960

David Procházka Editor

New Trends in Finance and Accounting Proceedings of the 17th Annual Conference on Finance and Accounting

123

Editor David Procházka Faculty of Finance and Accounting University of Economics Prague Czech Republic

ISSN 2198-7246 ISSN 2198-7254 (electronic) Springer Proceedings in Business and Economics ISBN 978-3-319-49558-3 ISBN 978-3-319-49559-0 (eBook) DOI 10.1007/978-3-319-49559-0 Library of Congress Control Number: 2016958716 © Springer International Publishing AG 2017 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper This Springer imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland

Contents

1

The Euro Marriage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Aleš Michl

2

Does Euro Introduction Ensure Lower Vulnerability of the New Euro Area Members to the External Shocks? The Case of the Central and Eastern European Countries . . . . . . . Vilma Deltuvaitė

3

4

5

6

7

8

9

1

17

Does Strong Employment Support Strong National Currency? An Empirical Analysis for the US Economy . . . . . . . . . . . . . . . . . . . Elvan Akturk Hayat and Ismet Gocer

29

The Theory of Debt-Deflation: A Possibility of Incompatibility of Goals of Monetary Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Samy Metrah

41

Gold Versus Stocks as an Inflationary Hedge: The Case of Spain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Nesrin Ozatac, Mohamad Kaakeh and Bezhan Rustamov

49

Is There a Relation Between HDI and Economic Performances? . . . . . . . . . . . . . . . . .