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School bullying and its effect on children's academic performance in the Czech Republic
Kalendová, Tereza ; Chytilová, Julie (advisor) ; Polák, Petr (referee)
A safe school environment is a crucial aspect for sustainable educational quality as well as for promoting students' academic performance. One of the factors damagingly affecting school environments is school bullying. Researchers investigating bullying problematic have revealed many negative consequences of bullying on students' general well-being, including its adverse effect on school performance. The thesis aims to investigate the impact of school bullying on student's academic achievement in the Czech Republic, using mathematics test score results of fourth grade students from TIMSS 2015. In the first stage, we use ordinary least squares (OLS) regression controlling for a number of student's background variables. As the estimates obtained from this method might be biased due to endogeneity issues, we apply non-parametric technique propensity score matching (PSM) in the second stage. Our findings suggest that school bullying has a significant negative effect on students' mathematics test scores. However, the effect loses its significance as the frequency of bullying decreases. The PSM technique yield similar estimates as the OLS. The results indicate that Czech educators and policymakers should take into account bullying as an important determinant of pupils performance and enhance...
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Fine Watches as an Investment: Index Creation and Portfolio Selection
Harant, Evžen ; Chytilová, Julie (advisor) ; Malířová, Tereza (referee)
This thesis performs a risk-return analysis and examines portfolio diversi- fication opportunities of fine watches. To provide the reader with a basic understanding of the watch market and its functioning, main incentives, price determinants, and risks are studied. To effectively analyse price dy- namics on fine-watch market, the dataset including data from major auction houses and encompassing the period between 2006 and 2017 is created. Due to the unique nature of fine-watch market scene, the price index is then estimated with repeat sales method using original, three-stage, and three- stage flexible methods. Beyond the creation of price index, the portfolio analysis is performed and the thesis further focuses on potential benefits of watch index's inclusion in optimal portfolio. We find evidence that fine watches are potentially a good diversification tool due to its close-to-zero correlation with other chosen asset classes. However, computed risk-return characteristics shows a suboptimality of watch index relative to all selected assets except for two equity indices, NIKKEI 225 and EURO STOXX 50. As a result, we find no evidence of beneficial effect of fine watches' inclusion in portfolio. Keywords Watches, Financial Markets, Fine Watches, Investment, Portfolio Theory, Repeat Sales Method, Auction
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Determinants of Life Satisfaction in the Czech Republic and their Development over Time
Pavlovová, Anna ; Chytilová, Julie (advisor) ; Khymych, Olha (referee)
This work examines the reported life satisfaction in the Czech Republic over the period between 1991 and 2016. The relationships between various individual characteristics and reported life satisfaction are analysed using the ordinary least squares and the results are compared across time. This work extends the existing literature not only by providing a more up-to-date analysis of the correlates of life satisfaction in the Czech Republic but also by analysing them in a wider time horizon. Some relationships were found rather stable over the considered period (for example, those associated with health, satisfaction with institutions or with political beliefs). Even though higher education and higher income were not strictly associated with higher satisfaction, the differences in satisfaction of individuals belonging to the lower and upper deciles of income are significant throughout the whole period. On the other hand, some associations have changed substantially over time (e.g. those related to being a student). Contrary to the existing literature on the period of transition, life satisfaction in the Czech Republic appears to be U-shaped in age during the whole considered period including the 90s. However, the turning points and the exact shape of the relationship changed over time. Keywords life...
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Effects of sanctions on Russian Federation: analysis of effects on Russian companies
Karymshakov, Esenbek ; Semerák, Vilém (advisor) ; Chytilová, Julie (referee)
My thesis analysis studies the effects of sanctions on the Russian Federation and Russian companies which represent energy and banking sectors of the economy: Rosneft, Gazpromneft, Transneft, Sberbank, Gazprombank, VTB group. After the invasion and annexation of Crimea by the Russian Federation, most western countries reacted immediately, expressed condemnation of Russia's activity in Ukraine. Therefore, the main task of thesis is to analyze implications of sanctions against the Russian Federation onto financial position of the Russian companies resulting the year 2014. Each company will be analyzed individually before and after sanctions in order to observe the scale of sanctions on them and their countermeasures. I will include all major factors, which are affecting onto the Russian Federation's decision. Finally, the main aim of my thesis is to prove and try to show the importance and relevance of my hypothesis, which is mentioned below.
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Art as a Financial Investment: Estimation of Art Returns and Portfolio Diversification
Konstantinova, Elizaveta ; Chytilová, Julie (advisor) ; Korbel, Václav (referee)
The thesis at hand examines risk, return and portfolio diversification oppor- tunities of the art market. In order to analyse price dynamics at the peculiar and unique art market scene and provide a reader with a basic understanding of the requirements for undertaking investment in this field several trends dominating in the art market abreast with the main art price determinants and risks are investigated. Based on the repeat sales data encompassing the period from 2000 to 2015, the art price indices have been estimated using both standard and three-stage weighted methods. Beyond a standard risk and return analysis of various art sectors compared with traditional invest- ment vehicles, this thesis also focuses on the performance of art with respect to the investment horizon. We conclude that longer holding period may be more beneficial than shorter one in terms of both return per unit of risk and costs per unit of time. However, in common with the literature in this area, the results suggest that the risk and return characteristics of art are inferior to the risk and return characteristics of financial assets and despite the low levels of correlation we have found no support for the inclusion of art in the mixed-asset portfolio. JEL Classification C13, C41, C61, D43, D44, G11, G14, Z11 Keywords art;...
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The economic development and international trade of North Korea using the factor analysis method
Kim, Ha Eun ; Chytilová, Julie (advisor) ; Cahlík, Tomáš (referee)
In this paper, after reviewing the characteristics of North Korean statistics, I examined how North Korea's trade affects its growth using empirical analyses. There have been many studies that have shown trade has affected economic growth, but there have been few empirical studies on North Korea's case. Cointegration test, regression analysis, and factor analysis were used. The empirical results suggest that even considering economic fluctuations, North Korea's trade has not shown a significant impact on growth. Keywords North Korea, Growth, Trade, Cointegration test, Factor analysis
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Maternal Education and its Impact on Child Health Outcomes
Tóthová, Miriama ; Chytilová, Julie (advisor) ; Korbel, Václav (referee)
The aim of the presented thesis is to examine the relationship between mater- nal educational attainment and child health outcomes. The study attempts to distinguish between child's nutritional status and mother's health-seeking behaviour which is measured by child's immunization status. Hypotheses are tested using a probit regression model based on the Demographic and Health Surveys data from two Sub-Saharan countries, namely Ethiopia and Kenya. The empirical results suggest that there is a strong significant relationship between maternal education and child's chronic malnutrition, while the ma- ternal education effect attenuates after inclusion of possible channels in the regressions explaining child's acute malnutrition and child's immunization status. The education effect on the probability of having diarrhea has shown to be insignificant. Furthermore, the effect does not differ either by the sex of the child nor by the place of residence. Lastly, we observe that secondary education represents the most important influence on the child health quality.
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Lobbying: Microeconomic Evidence
Rott, Robert ; Gregor, Martin (advisor) ; Chytilová, Julie (referee)
The present thesis is an empirical analysis of lobbying in the United States. First, it analyses an added value of lobbyists' specialisation and connections to congressmen using a method of matching. Second, it extends the analysis by studying the impact of competition for access to congressmen on the added value of lobbyists. Third, it analyses lobbying from the point of view of congressmen by studying the impact of their specialisation on committee assignments on the amount of campaign financing they obtain from lobbyists. The analysis is done using data about lobbying reports as well as committee assignments of congressmen and campaign contributions they obtain from lobbyists in the 106th to 110th congress, corresponding to years 1999-2008. The present thesis also provides a brief summary of related literature analysing different aspects of lobbying.
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