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Composite indicators: the construction, usage and interpretation
Hudrlíková, Lenka ; Fischer, Jakub (advisor) ; Čadil, Jan (referee) ; Hužvár, Miroslav (referee)
This thesis brings a comprehensive view on the construction, usage and interpretation of composite indicators. Methods and techniques, which can be used for constructing composite indicators, are introduced. The focus is on their contribution to the transparent solution of the problem of correlation and compensability among underlying indicators. Transparency in construction of composite indicators is a crucial requirement for obtaining reliable results and their correct interpretation. The thesis consists of two main parts. The first part is theoretically oriented. First, the problem of adequacy and subsequently a measurement of the phenomenon by means of statistical indicators are discussed. Different methods for data normalization, setting a weighting scheme and aggregation are introduced and compared. These three steps are considered to be crucial in a process of constructing a composite indicator and thus, they are the core of the thesis. The aim is to investigate an interaction of normalization methods, weight-setting and aggregation methods, since these steps are not separate. The second part of the thesis consists of two comprehensive cases. Theoretical findings are applied and empirically verified in these cases. I investigated a robustness of the composite indicator depending on a combination of selected methods of normalization, setting weights and aggregation on a set of Europe 2020 indicators. Whereas this first case dealt with the comparative analysis of methods, the second case is focused purely on one issue -- university ranking. The proposed method reacts to criticism of currently published university rankings and takes into account specifics of the particular university as well as the exogenous background characteristics. The main added value rests in a contribution to a discussion about the improvement of construction and overall quality of composite indicators including their interpretation. I pointed out the main concerns and difficulties of composite indicators that often remain unnoticed by users and even constructors. The conclusion brings several beneficial findings, which can be used for the construction of a composite indicator and an interpretation of final scores and ranking. This work can also serve as a scientific ground for further research and development of the methodology of constructing composite indicators.
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CONSTRUCTION OF EXCHANGE INDICES IN THE CZECH REPUBLIC AND COMPARISON OF THEIR DEVELOPMENT
Hřebejk, Jan ; Hudrlíková, Lenka (advisor) ; Petkovová, Ludmila (referee)
The goal of this thesis is to describe different mathematical methods of construction stock market indices, to evaluate the strengths and weaknesses of particular approaches and to give the recommendation which of these methods is suitable to use at last. The special emphasis is placed on the methods of construction stock market indices in the Czech Republic and its close neighbouring countries. Further in order I give an account of distribution revenues probability (coefficients of growth, relative increments) and compare it with convenient theoretical distribution (normal, log-normal). My thesis is divided into three main chapters. In the first one I put a theoretic interpretation on all possible stock market indices calculation, their various transformation and relationship between them. The theoretic interpretation is completed with demonstrative examples. The second chapter is focused on calculation of Prague Stock Exchange PX index particularities. In the last chapter I perform the comparison of attitude appropriately chosen Czech and foreign index makers.
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Composite indicators of quality of life
Pelikánová, Radka ; Hudrlíková, Lenka (advisor) ; Petkovová, Ludmila (referee)
Composite indicators have been extended and applied even more in recent years. But what are the reasons for their usage popularity? Can their results be trusted? Can they really measure the correct quality of life? What are the methods of measuring the quality of life? This thesis analyses these and other issues associated with composite indicators. The first part is focused on the theoretical description of indicators and their construction. The next part describes selected indicators, which quantify the discussed quality of life. The third and last part of the thesis focuses on the analysis of selected indicators and their possible correlation with the most popular and up to now the most widely used indicator of living standards, thus with GDP.
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Estimate of Capital Services in the Czech Republic
Hudrlíková, Lenka ; Fischer, Jakub (advisor) ; Ondruš, Vítězslav (referee)
This diploma paper discusses the importance of implementation of capital into the system national accounts. The purpose of this work is an estimation of capital services for real data of the Czech Republic. Conducted its own calculation is first such comprehensive estimate of the capital services, which was made. The diploma paper is divided into three parts. In the first part there is a explaination of concept of capital services and the methods of estimation and possible ways of calculating the necessary data. In the second part there is already done my own calculations of estimate of capital services used the methodology recommended by the OECD, but subject to certain adjustments, which are better suited to national conditions. Due to the volume of data all the calculations are listed in the Annex. In the text work is illustrative example of one sector of economic activity and the economy as a whole. The last section deals with experimental estimates of impact of capital services on macroeconomic aggregates, particularly gross domestic product. Other possibilities obtained an estimate of capital services, it is possible to estimate multi-factor productivity. Capital services can be used to express the input of capital.
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Mzdy v České republice v souvislosti s dosaženým vzděláním
Hudrlíková, Lenka ; Fischer, Jakub (advisor) ; Mazouch, Petr (referee)
Cílem práce je analyzovat mzdy v České republice v souvislosti s nejvyšším dosaženým vzděláním. Práce zahrnuje různé analytické pohledy na mzdy a dosažené vzdělání podle různých charakteristik. Vzdělání považuji za možný faktor zvýšení mezd. Podstatný vliv na rozhodování jedince o tom, zda bude investovat do získání dalšího, vyššího stupně vzdělání, mohou mít mzdové rozdíly související s dosaženým vzděláním.
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