In this article the author defines legal entities and classifies them by applying the interest theory and an adapted method of system analysis, also taking into account the legal personality of legal entities. An innovative classification that is applicable not only for ad hoc legal-economic analyses but also for a practical classification of legal entities when establishing their personality, concerning both private and public law, is demonstrated in an original manner. Such classification is practically applicable, universal, and global. In Slovenia it is applicable in its entirety. It can be partly applicable, however, also in cases in which the legal order of a state determines the personality of legal entities differently than is the case in Slovenia. In such an instance, the scheme can be easily and quickly adapted, as the criteria for the classification of legal entities into authoritative, functional, and associative, are, in the opinion of the author, universal. The classification originates in the ancient Raman classification of legal entities into corporations and foundations (universitas personarum, universitas bonorum) and classifies them according to the criteria of authoritativeness, functionality, and voluntary association.
B.04 Guest lecture
COBISS.SI-ID: 2718954This book has been written as a university study book intended to be used as an aid in understanding the main institutions of law and the state. Its purpose can be found in a thought paraphrased from the Roman philosopher and orator Marcus Tullius Cicero: Non enim tam praeclarum est scire leges quam turpe nescire, which freely translates as: It is not so much that it is extraordinary to be familiar with the law, but that it is shameful to be ignorant of it. Therefore, basic legal knowledge is expected of every intellectual, and especially of every future natural or social sciences graduate, even if he or she is not a law school graduate. The book introduces the basic constituent parts of law and the forms of legal order in which these parts are vertically and horizontally incorporated. The terms are sometimes simplified in order to bring law and an understanding of law closer to readers who are not lawyers. The final part of the book deals with the state, its essential elements, and the various types of states, taking into consideration a range of criteria.
F.35 Other
COBISS.SI-ID: 74786561The 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 is no long memory in the Croatian and Hungarian stock market returns is tested by applying the Kwiatkowski-Phillips-Schmidt-Shin (KPSS) (1992) test, Lo's (1991) modified rescaled range (R/S) test, and the wavelet ordinary least squares (WOLS) estimator of Jensen (1999). The research showed that the WOLS estimator may lead to different conclusions regarding long memory presence in the stock returns from the KPSS and unit root tests or Lo's R/S test. Furthermore, it proved that the fractal structure of individual stock returns may be masked in aggregated stock market returns (i.e. in returns of stock index). The main finding of the paper is that both the Croatian stock index Crobex and individual stocks in this index exhibit long memory. Long memory is identified for some stocks in the Hungarian stock market as well, but not for the stock market index BUX. Based on the results of the long memory tests, it can be concluded that while the Hungarian stock market is weakform efficient, the Croatian stock market is not.
B.04 Guest lecture
COBISS.SI-ID: 11279644