česká verze

Human capital and investment in education 2024

27th International Scientific Conference

Human Capital and Investment in Education: How does the future affect the present?

Date: 22nd November 2024 at 9.00 a.m.

Venue: The University of Finance and Administration, a.s., Estonská 500, entrance from Kodaňská street

Hybrid format: in-person or online via Microsoft Teams

Prerequisite: registration latest by 15th November 2024, no participation fee

 Human Capital_invitation, 679 kB

Conference Scientific Committee

Assoc. Prof., Ing., CSc.	Březinová Hana	Dean of the Faculty of Economic Studies, The University of Finance and Administration, Prague
PhDr., Ph.D., MBA	Knihová Ladislava	Section of Management and Marketing, Department of Economics and Management, The University of Finance and Administration, Prague
JUDr., Ph.D.	Kostrec Matej	Police Academy, Bratislava
Prof., Ing., CSc., MBA	Krpálek Pavel	Vice-Rector Emeritus, The University of International and Public Relations, Prague
Assoc. Prof., RNDr., Ph.D.	Lánský Jan	Department of Computer Science and Mathematics, The University of Finance and Administration, Prague
Ing., Ph.D.	Mach Petr	Department of Economics and Management, The University of Finance and Administration, Prague
Assoc. Prof., Ph.D.	Maiello Giuseppe	Department of Social Sciences, The University of Finance and Administration, Prague
Assoc. Prof., Ing., Ph.D.	Mertl Jan	Department of Finance, The University of Finance and Administration, Prague
Assoc. Prof., Ing., CSc.	Němec Otakar	Department of Human Resources, Prague University of Economics and Business, Prague
Assoc. Prof., Ing., Ph.D.	Naďová Krošláková Monika	Department of Tourism, The University of Economics in Bratislava
Assoc. Prof., Ing., Ph.D.	Petrů Naděžda	Vice-Dean for Research and Publications, Faculty of Economic Studies, The University of Finance and Administration, Prague
Assoc. Prof., Mgr., Ph.D.	Roubal Ondřej	Vice-Rector for Research and Development, University of Finance and Administration, Prague
Mgr., Ph.D.	Štědroň Jakub	Director of The House of National Minorities, Department of Management, Faculty of Physical Education and Sport, Charles University, Prague
Ing., Ph.D.	Zmatlík Jiří	The Masaryk Institute of Advanced Studies, Czech Technical University, Prague

 

Organizing Committee

Assoc. Prof. Ing. Naděžda Petrů, Ph.D. 
Assoc. Prof. Ing. Radim Valenčík, CSc.
BA Kateřina Konupková

Conference Organizer

Assoc. Prof. Ing. Radim Valenčík, CSc.
radim.valencik@vsfs.cz

The content and focus of the conference in more detail

Every person bases their current decision-making on the fact that they project an idea of future development into the specific situation in which they find themself. He does so more or less intuitively or adequately to the situation, his knowledge, etc. Education plays a key role in this respect. How can we make our decision-making more effective by using an informed idea of the future, what mistakes in decision-making can be avoided, and what does this imply for the role and content of education? What is the role of education: is it to foster creativity, teamwork, purpose, etc.? What is the role of the various disciplines in anticipating future developments and translating this into current decision-making? Is it possible to increase psychological resilience to changes in the external environment on the basis of professional training? What is the current state of education policy, and how does it affect the future? How rapidly is the significance of educational capital growing? Is the main trend equality of opportunity or individualization and freedom of choice versus the need for standardization?

Sub-themes and suggestions for discussion

1. Every decision we make is based on an idea of the future, which we then project into the present. This leads to the first sub-topic of the conference: what theoretical tools allow us to describe the optimal decision based on two assumptions:

- The most accurate idea of the future.
- The most accurate projection of this idea into the present.

This area of the above-mentioned problem is directly related to the tools of game theory, among others the distinction between myopic and non-myopic equilibria, allowing to clarify some apparent paradoxes in the field of so-called "ultimate games".

2. The second subtopic is related to what we could call with some exaggeration (or even without exaggeration) "the overpopulation of black swans". The term "black swan" was introduced by N. S. Taleb in his book of the same name. It denotes an improbable but highly significant event with mostly very negative consequences. Which "black swans" have we encountered recently, and which are we likely to encounter? Is their occurrence so unexpected, or are they, in the words of Sir Humprey Appleby, "expected unexpected events"? Can we predict some of the 'black swans', or can a methodology be devised to help us cope with the 'black swan' phenomenon in our current decision-making?

3. The third sub-theme relates to the severe impact of the future on our present in financial markets, products, derivatives and instruments used in these markets. These are cases where we need to know the present value of future assets as accurately as possible or what the actual value of present assets will be in the future. In this case, large sums of money are usually involved, both in terms of potential gains and losses that we may suffer if we make an incorrect estimate. How do we make decisions during considerable turbulence in the financial markets? What theoretical tools are available to us, and how can we improve them?

4. Whether we realize it or not, each of us lives in the future and experiences our present existence under the direct influence of the expected future, which is the fourth sub-theme. Our experiences, including the existential dimension of our living, are saturated by the transference of experiences from anticipated and imagined future situations to present situations, to the activities we perform and the means we use for those activities. Our feelings associated with looking forward to something or fearing something originate in the anticipated and imagined future, which considerably influences our current life.

5. As seen from the preceding points, how we imagine future developments plays a huge role in our lives across the whole range of what is important to us, from intimate experiences to money, which can be used to buy almost anything. It is no coincidence, therefore, that long ago, a field was born that seeks to grasp future developments not through techniques associated with inhaling fumes from a rock crevice or using a crystal ball, etc., but through the tools that science has at its disposal, in the particular case prognostics. What are these tools? What are our options in this area? Which predictive tools have been most successful? Which are the most promising directions for the development of forecasting at the moment? The answer to these questions is the fifth subtopic.

6. The sixth subtopic concerns one of the most common mistakes we make in learning about the future: inertial vision of reality and inertial reasoning in non-inertial (tipping point) situations. Where do we most often encounter this "mind trap" that reason can get caught in? And how can we avoid this "mind trap"? What is the current breakthrough change? Do we have a sufficient idea of it, or are we unaware of it?

7. Undoubtedly, we would live much better and cope with problems much more effectively if we agreed at least in part on a vision that is forward-looking (seeing beyond the horizon of solutions and resolution of current problems), realistic (of sufficient social forces of cooperation, including its institutionalized form), and appealing (fulfilling the meaning of our lives). Can such a vision be created? How and on what basis? This is an important sub-theme, the seventh in the sequence and, in a sense, summarizing the previous one.

These are topical themes that should be given sufficient attention in their respective contexts.
Expected areas of change 
Society and its members are subject to dynamic changes in many areas. Perhaps each of us is asking questions such as:
What is our future in a world where technological advances, innovations, and the growing influence of artificial intelligence demand that we adapt and evolve to significantly impact our lives?

Can we make good choices for a sustainable future? How does the new European ESG (Environmental, Social and Governance) legal regulation that came into force on 1st January 2024 directly affect human capital? 
How to operate in times of climate (energy, financial, raw materials...) crises and remember the future? What is the present state of crisis management, and how does it affect our future? How can we meet our own needs, demands, and expectations, resist marketing pressures, and enable a good quality of life for those who will live on this planet after us?

Is the system of earmarked support for science and research grants or projects (fairness and transparency of evaluation, allocation of financial support, rules for project handling and control, assessment and its professionalism, administrative and legal aspects, etc.) applicable in the future? 
Are family businesses challenged by activities in relation to the transfer of management and assets from one generation to the next for their future success?
How are the values and expectations of society changing - for example, is the increasing emphasis on diversity, inclusion and work-life balance changing management decision-making in terms of corporate culture and work environment?
According to the Prosperity and Financial Health Index, the Czech economy is stagnating. The high level of complexity of the Czech economy is positive, as is the high share of hi-tech exports linked to creativity. How will these facts affect the economy of the future? In the context of the economic transformation, we are talking about several areas, e.g.:

• a weak sector of domestic firms with high added value,
• less cooperation between firms and science and research institutions,
• the transition to a knowledge-based economy, which will enable high product quality, efficient processes and profitability to compete through innovation, digitalisation and the use of artificial intelligence tools,
• whether the rapid ageing of the population, the lack of a thorough pension reform, health, education, labour market and social services reforms will affect and increase the future debt of public finances,
• whether simplifying the regulatory environment, strategic investment planning, promoting high value-added sectors, improving the innovation ecosystem, or investing in the education and skills of the workforce can be a starting point for improving the economic performance of firms and, by extension, the economy, 
• etc.

How does the future affect the current education system and skills requirements? Are current education systems adapting to changing realities? What skills will be relevant in a few decades? For example, are they digital literacy, critical thinking, design thinking, the ability to continuously learn and adopt new practices, the ability to work in a team, etc.?
Significant changes are also taking place in other areas. Which ones are they, and how do we deal with them? We will seek answers to these questions before, during and after the conference.

Important dates and guidelines:

Starting from 20th June 2024: registration and the opportunity to join the pre-conference discussion. An abstract, thesis, working version of the paper can be submitted; these materials will be made available to members of the Scientific Committee and other registered participants, and the discussion will be held on the blog https://radimvalencik.pise.cz/ 

Latest by 15th November 2024

Please send information regarding your preferred form of participation in the conference (presenting a paper in person, presenting a paper online, or another form of active participation such as discussing a topic, providing feedback on selected papers, participating in post-conference discussions, etc.) to radim.valencik@vsfs.cz , who is the Conference Organizer.

Name, surname with titles
Department or institution
Contact e-mail 
Mobile phone (in case of direct contact)

Working paper title and abstract with the structure:
Background of the topic:
Objective of the paper:
Research Methods:
Findings:
Recommendations:
Practical relevance/social implications:
Originality/value:

Keywords (6-8 words)

The conference outputs will be published around February 2025.

Participants will have the opportunity to publish their contributions in a peer-reviewed journal, ACTA See: https://acta.vsfs.eu/, or in a collaborative scientific monograph. The monograph will include peer-reviewed contributions arranged according to the discussed themes, as well as a non-peer-reviewed appendix.

Conditions for publishing in the peer-reviewed section: Same guidelines as for submissions to ACTA VŠFS, see: https://acta.vsfs.eu/guidelines-for-authors.

The conference languages are Czech, Slovak, and English. Contributions to ACTA should be in English, while the language of contributions to the monograph is at the author's discretion.

We look forward to your participation and interesting contributions.