Prague Economic Papers, 2026 (roč. 35), číslo 2
Original contributions, Original article, Research article
What Drives the Global Waste Trade? Pollution Haven or Resource Hunting
Dan Liu, Bowen Li, Zijing Zhang, Xinyu Zhang
Prague Economic Papers 2026, 35(2):166-195 | DOI: 10.18267/j.pep.910 
In recent decades, the cross-border flow of waste has become increasingly active globally, with existing research primarily attributing this trend to the pollution haven hypothesis. This study re-examines the drivers of global waste trade and explores their implications for sustainability. Using panel data from 117 countries between 1996 and 2020, we find that both developed and developing economies import waste products as resources. However, the resource hunting motive declines and shifts toward higher-value waste when importers adopt recycling policies. When developed exporters implement such policies, importers increase trade value due to lower...
How the Terra-LUNA Collapse Reshaped Tether's Role in Crypto Market Volatility
Ekin Tokat, Hakki Arda Tokat
Prague Economic Papers 2026, 35(2):196-220 | DOI: 10.18267/j.pep.909
This study examines the evolving role of Tether in cryptocurrency market volatility, particularly in the context of the Terra-LUNA collapse. Using a multivariate asymmetric BEKK-GARCH model, we analyze volatility transmission between Tether's trading volume and the return volatilities of Bitcoin and Ethereum. Unlike prior studies that rely on issuance based measures, we employ trading volume volatility as a proxy for real time stablecoin related liquidity dynamics. The results indicate that, in the pre-collapse period, Tether exhibited a stabilizing association with Bitcoin volatility, consistent with its role as a liquidity buffer. Following the Terra-LUNA...
Minority Compensation and Discount Rate Practice: Evidence from 223 Czech Squeeze-Outs (2005-2024)
Tomáš Podškubka, Jakub Novák, Petr Jablonský
Prague Economic Papers 2026, 35(2):221-248 | DOI: 10.18267/j.pep.912
Analyzing 223 Czech squeeze-out valuation reports from 2005-2024, this study examines discount rate construction as a governance mechanism influencing minority compensation. We document the persistent dominance of the CAPM model, a shift toward domestic risk-free anchors, and evolving practices in WACC iteration and parameter transparency. Central to this study is the introduction of a novel 12-parameter 'Transparency Index' used to statistically test the verifiability of valuation reports over time, while also analyzing the applied company-independent equity market risk premium. Our findings reveal a statistically significant rise in report transparency,...
Methods for assessing quality of life: an application to Czech municipalities with extended jurisdiction
Jakub Hanousek
Prague Economic Papers 2026, 35(2):249-284 | DOI: 10.18267/j.pep.907
The goal of this article is to measure the objective dimension of quality of life in municipalities with extended jurisdiction in the Czech Republic. Quality of life is measured by four composite indicators. Composite indicators were calculated using two methods based on several socio-economic factors. The methods for calculating composite indicators are the weighted sum approach and the benefit-of-the-doubt method, which is based on linear programming. In the weighted sum method, the target population groups were distinguished by determining different weights for individual socio-economic factors. The article also analyzes the effect of living on...
The Impact of Artificial Intelligence on accounting in hotels: employees' perceptions in North Macedonia and Serbia
Aleksandra Mitrović, Marija Magdincheva Shopova, Snežana Knežević, Marko Milašinović, Jasmina Ognjanović, Malči Grivec, Zorana Agić
Prague Economic Papers 2026, 35(2):285-313
The information technology development has led to its application in numerous areas of business. Therefore, due to the perceived advantages, the use of different software solutions and applications is becoming more and more frequent. Artificial intelligence (AI) also finds its application in accounting. The aim of this paper is to consider and define the answer to the following question: Does the AI use affect accounting implications in hotels in North Macedonia (NM) and the Republic of Serbia (RS)? The research results point to the existence of significant differences between the use of AI software in accounting in NM and RS. A significant difference...