Detailed Information on Publication Record

DOLÁKOVÁ, Bohuslava. Models of Financial Crisis and Early Warning System. In New Economic Challenges – 5th International PhD Student Conference Conference Proceedings. Brno: Masaryk University in Brno, Faculty of Economics and Administration, Department of Finance, 2014. p. 6-12. ISBN 978-80-210-7140-7.
Other formats: BibTeX LaTeX RIS @inproceedings{1205502, author = {Doláková, Bohuslava}, address = {Brno}, booktitle = {New Economic Challenges – 5th International PhD Student Conference Conference Proceedings}, keywords = {Financial Crisis; Indicator; Run on the Bank; Social Capital; Warning}, howpublished = {paměťový nosič}, language = {eng}, location = {Brno}, isbn = {978-80-210-7140-7}, pages = {6-12}, publisher = {Masaryk University in Brno, Faculty of Economics and Administration, Department of Finance}, title = {Models of Financial Crisis and Early Warning System}, year = {2014} } TY - JOUR ID - 1205502 AU - Doláková, Bohuslava PY - 2014 TI - Models of Financial Crisis and Early Warning System PB - Masaryk University in Brno, Faculty of Economics and Administration, Department of Finance CY - Brno SN - 9788021071407 KW - Financial Crisis KW - Indicator KW - Run on the Bank KW - Social Capital KW - Warning N2 - The issue of financial crisis will not only be considered from the economic perspective, but also from the sociological perspective, which brings new insight and attention to phenomena that purely economic perspective can hide. It was very visible during the last financial crisis where the media was focused too much on the economic effects and not enough awareness of the social nature of the crisis. There are three main sociological perspectives: functionalist, conflict theory, and symbolic interactionism. Functionalists believe that economic recessions are functional for society because economic downturn eliminates the poorly operating businesses, while the more useful businesses survive. Conflict theory is based on Karl Marx’s work. A Capitalist system can become so complex, abstract, and alienating, that even those who seem to be controlling the system of loans, secondary loans, and hedge funds, have no idea how it is working. The system’s collapse results from this central conflict within capitalism. According to symbolic interactionism, just because people believe there will be a downturn they act in such a way that ensures the economic downturn will happen, i.e. it acts like a self fulfilling prophecy. Based on the identification of financial crisis indicators will be analysed early warning system for crises and designed innovation system that would adequately reflect the current trends of Czech and the world economy. ER - DOLÁKOVÁ, Bohuslava. Models of Financial Crisis and Early Warning System. In \textit{New Economic Challenges – 5th International PhD Student Conference Conference Proceedings}. Brno: Masaryk University in Brno, Faculty of Economics and Administration, Department of Finance, 2014. p.~6-12. ISBN~978-80-210-7140-7.

DOLÁKOVÁ, Bohuslava. Models of Financial Crisis and Early Warning System. In New Economic Challenges – 5th International PhD Student Conference Conference Proceedings. Brno: Masaryk University in Brno, Faculty of Economics and Administration, Department of Finance, 2014. p. 6-12. ISBN 978-80-210-7140-7.

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Basic information
Original name	Models of Financial Crisis and Early Warning System
Name in Czech	Modely finančních krizí a systém včasného varování
Authors	DOLÁKOVÁ, Bohuslava (203 Czech Republic, guarantor, belonging to the institution).
Edition	Brno, New Economic Challenges – 5th International PhD Student Conference Conference Proceedings, p. 6-12, 7 pp. 2014.
Publisher	Masaryk University in Brno, Faculty of Economics and Administration, Department of Finance

Other information
Original language	English
Type of outcome	Proceedings paper
Field of Study	50200 5.2 Economics and Business
Country of publisher	Czech Republic
Confidentiality degree	is not subject to a state or trade secret
Publication form	storage medium (CD, DVD, flash disk)
RIV identification code	RIV/00216224:14560/14:00077227
Organization unit	Faculty of Economics and Administration
ISBN	978-80-210-7140-7
Keywords (in Czech)	finanční krize; indikátor; run na banku; socilní kapitál; varování
Keywords in English	Financial Crisis; Indicator; Run on the Bank; Social Capital; Warning
Tags	Reviewed
Changed by	Changed by: Mgr. Bc. Bohuslava Ellis Doláková, učo 175975. Changed: 17. 4. 2015 17:21.

Abstract
The issue of financial crisis will not only be considered from the economic perspective, but also from the sociological perspective, which brings new insight and attention to phenomena that purely economic perspective can hide. It was very visible during the last financial crisis where the media was focused too much on the economic effects and not enough awareness of the social nature of the crisis. There are three main sociological perspectives: functionalist, conflict theory, and symbolic interactionism. Functionalists believe that economic recessions are functional for society because economic downturn eliminates the poorly operating businesses, while the more useful businesses survive. Conflict theory is based on Karl Marx’s work. A Capitalist system can become so complex, abstract, and alienating, that even those who seem to be controlling the system of loans, secondary loans, and hedge funds, have no idea how it is working. The system’s collapse results from this central conflict within capitalism. According to symbolic interactionism, just because people believe there will be a downturn they act in such a way that ensures the economic downturn will happen, i.e. it acts like a self fulfilling prophecy. Based on the identification of financial crisis indicators will be analysed early warning system for crises and designed innovation system that would adequately reflect the current trends of Czech and the world economy.

Abstract

The issue of financial crisis will not only be considered from the economic perspective, but also from the sociological perspective, which brings new insight and attention to phenomena that purely economic perspective can hide. It was very visible during the last financial crisis where the media was focused too much on the economic effects and not enough awareness of the social nature of the crisis. There are three main sociological perspectives: functionalist, conflict theory, and symbolic interactionism. Functionalists believe that economic recessions are functional for society because economic downturn eliminates the poorly operating businesses, while the more useful businesses survive. Conflict theory is based on Karl Marx’s work. A Capitalist system can become so complex, abstract, and alienating, that even those who seem to be controlling the system of loans, secondary loans, and hedge funds, have no idea how it is working. The system’s collapse results from this central conflict within capitalism. According to symbolic interactionism, just because people believe there will be a downturn they act in such a way that ensures the economic downturn will happen, i.e. it acts like a self fulfilling prophecy. Based on the identification of financial crisis indicators will be analysed early warning system for crises and designed innovation system that would adequately reflect the current trends of Czech and the world economy.

Abstract (in Czech)
Problematika finanční krize nebude jen uvážená z ekonomického hlediska, ale z hlediska sociologického, které přináší nový pohled a pozornost jevům, které může čistě ekonomický pohled může přehlédnout. Bylo to velmi viditelné v průběhu finanční krize, kdy sdělovací prostředky, které se zaměřily příliš na hospodářské důsledky, a ne na povědomí o sociální povaze krize. Existují tři hlavní sociologické perspektivy: funkcionalistická, teorie konfliktu, a symbolický interactionismus. Funkcionalisté se domnívají, že ekonomické recese jsou funkční pro společnost: protože hospodářský pokles eliminuje špatně fungující podniky, zatímco další užitečné podniky přežijí. Teorie konfliktu je založena na práci Karla Marxe. Kapitalistický systém se může stát tak složitý, abstraktní, a odcizený, že i ti, kteří řídí systém půjček, sekundární úvěry, a hedge fondy, nemají ponětí, jak to celé funguje. Pád systému vyplývá z tohoto centrálního konfliktu v kapitalismu. Podle Symbolického interakcionismu pokud lidé věří, že bude pokles, jednají způsobem, který zapřičiňuje hospodářský pokles, tj. působí jako sebenaplňující se proroctví. Pp identifikaci ukazatelů finanční krize základě budou analyzovány systémy včasného varování pro krizové situace a navrhnuty innovace, aby systém řádně odrážel současné trendy české a světové ekonomiky.

Abstract (in Czech)

Problematika finanční krize nebude jen uvážená z ekonomického hlediska, ale z hlediska sociologického, které přináší nový pohled a pozornost jevům, které může čistě ekonomický pohled může přehlédnout. Bylo to velmi viditelné v průběhu finanční krize, kdy sdělovací prostředky, které se zaměřily příliš na hospodářské důsledky, a ne na povědomí o sociální povaze krize. Existují tři hlavní sociologické perspektivy: funkcionalistická, teorie konfliktu, a symbolický interactionismus. Funkcionalisté se domnívají, že ekonomické recese jsou funkční pro společnost: protože hospodářský pokles eliminuje špatně fungující podniky, zatímco další užitečné podniky přežijí. Teorie konfliktu je založena na práci Karla Marxe. Kapitalistický systém se může stát tak složitý, abstraktní, a odcizený, že i ti, kteří řídí systém půjček, sekundární úvěry, a hedge fondy, nemají ponětí, jak to celé funguje. Pád systému vyplývá z tohoto centrálního konfliktu v kapitalismu. Podle Symbolického interakcionismu pokud lidé věří, že bude pokles, jednají způsobem, který zapřičiňuje hospodářský pokles, tj. působí jako sebenaplňující se proroctví. Pp identifikaci ukazatelů finanční krize základě budou analyzovány systémy včasného varování pro krizové situace a navrhnuty innovace, aby systém řádně odrážel současné trendy české a světové ekonomiky.