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Entrepreneurial Project of Garden Company
Vozdecký, Lukáš ; Kapounek, Svatopluk (referee) ; Kocmanová, Alena (advisor)
My graduation thesis deals with the question of creating a new company. The objective of the work is to formulate out the mentioned establishment of the company in light of theory and practice. Special attention is devoted to detailed analysis of surroundings and market, where the company would operate. A view of the company's function is presented by working up of business plan which is the basic document for any new company.
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Financial Impact of Trust and Institutional Quality around the World
Kapounek, S. ; Kočenda, Evžen ; Kouba, L.
We investigate the financial impact of social trust, institutional quality, and regulations. As a testing ground we employ a unique, large, and hand-crafted dataset of more than 850 000 lending-based crowdfunding projects from 155 platforms across 55 countries during 2005–2018. We show that the impact of social trust is positive but economically less pronounced than that of institutional trust proxied by legal and property rights protection and regulation. Moreover, the financial impact of social trust is greater at the national level, while impact of institutional quality dominates at the international level. Nevertheless, the financial impact of trust and institutional quality around the world is positive, which is an encouraging implication under increasing anonymity and internationalization of financial environment.
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Selective Attention in Exchange Rate Forecasting
Kapounek, S. ; Kučerová, Z. ; Kočenda, Evžen
We analyze the exchange rate forecasting performance under the assumption of selective attention. Although currency markets react to a variety of different information, we hypothesize that market participants process only a limited amount of information. Our analysis includes more than 100,000 news articles relevant to the six most-traded foreign exchange currency pairs for the period of 1979–2016. We employ a dynamic model averaging approach to reduce model selection uncertainty and to identify time-varying probability to include regressors in our models. Our results show that smaller sizes models accounting for the presence of selective attention offer improved fitting and forecasting results. Specifically, we document a growing impact of foreign trade and monetary policy news on the euro/dollar exchange rate following the global financial crisis. Overall, our results point to the existence of selective attention in the case of most currency pairs.
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Entrepreneurial Project of Garden Company
Vozdecký, Lukáš ; Kapounek, Svatopluk (referee) ; Kocmanová, Alena (advisor)
My graduation thesis deals with the question of creating a new company. The objective of the work is to formulate out the mentioned establishment of the company in light of theory and practice. Special attention is devoted to detailed analysis of surroundings and market, where the company would operate. A view of the company's function is presented by working up of business plan which is the basic document for any new company.
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