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Business Development of Brewery
Mičková, Lucie ; Teplý, Petr (referee) ; Koleňák, Jiří (advisor)
Presented Master’s thesis characterizes, analyzes and assesses the current situation of Holba’s brewery, Ltd. The thesis includes theoretical resources, company analyses, mainly internal and external analyses. As a result of outside and inside analyses there are formulated opportunities and Threats, Strengths and Weaknesses. On the basis of findings, the thesis includes comprehensive proposal of strategy, development and improvement of company position, which should help to fix it’s position on market and take a step forward in today’s mobile world.
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The Business Plan
Teplá, Petra ; Teplý, Petr (referee) ; Doubravský, Karel (advisor)
The main subject of this thesis is a creating of workable business plan of wellness centre on the club 's principles. Theoretical part is focused on all important planning details, economics and legal aspects of petting up a company .The main goal of the practical part is application of theoretic findings into real business plan. The output is a compilation of pricing strategy and financial plan that can help determine the effectiveness of the chosen tactics.
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Management development project
Zukalová, Kateřina ; Teplý, Petr (referee) ; Kosová, Jaroslava (advisor)
Master’s thesis aims at understanding the process of planning and implementation of development project. It focuses in particular on the description and analysis of various stages of the project, especially in terms of their management and elimination of potential risks. The first part of the thesis deals mainly with theoretical introduction of the topic and definition of basic concepts and methods. The second part of the work is already trying to map a specific development project and to analyze its real progress. This section also proposed other possible approaches to addressing certain specific tasks within the individual phases and the elimination of potential risks that the project actually occurred, including the proposal of optimal process for managing development project.
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Foreign-owned banks and host economies
Fišerová, Tereza ; Teplý, Petr (advisor) ; Mejstřík, Michal (referee)
In the past two decades, significant changes have been shaping and transforming the banking sectors worldwide. Among these trends we find an intensive surge in foreign bank ownership which is especially remarkable in the countries of the Central, Eastern and South-Eastern European region. Using the sample of 17 countries and filtering out more than 140 domestically-operating foreign-owned banks, we examine the determinants of their performance in relation to host country conditions and home country banking sector performance over the period of seven years between 2005 and 2011. Due to the topic's currency, we additionally provide an insight into the link between sovereign debt and bank ownership. By means of system GMM model, or fixed effects model, we reveal that macroeconomic fundamentals of the host country affect the foreign-owned banks' performance but do not suffice in explaining it fully. Moreover, the depth of the current crisis as demonstrated in the home country impacts negatively on the host-country-operating foreign-owned banks. We did not find any convincing evidence of the host sovereign debt and bank ownership nature of relationship.
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Binning numerical variables in credit risk models
Mattanelli, Matyáš ; Baruník, Jozef (advisor) ; Teplý, Petr (referee)
This thesis investigates the effect of binning numerical variables on the per- formance of credit risk models. The differences are evaluated utilizing five publicly available data sets, six evaluation metrics, and a rigorous statistical test. The results suggest that the binning transformation has a positive and significant effect on the performance of logistic regression, feedforward artifi- cial neural network, and the Naïve Bayes classifier. The most affected aspect of model performance appears to be its ability to differentiate between eligible and ineligible customers. The obtained evidence is particularly pronounced for moderately-sized data sets. In addition, the findings are robust to the inclusion of missing values, the elimination of outliers, and the exclusion of categorical features. No significant positive effect of the binning transformation was found for the decision tree algorithm and the Random Forest model.
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Terminal Asset Value of the Prague Stock Exchange
Neumann, Pavel ; Janda, Karel (advisor) ; Teplý, Petr (referee)
Neumann Pavel Abstract This thesis draws parallel between depositors facing a bank run and investors facing a stock price crash in order to determine a formula for debt ratio that would trigger mass sale of stocks for particular company. To reach terminal debt ratio formula, this thesis firstly discusses a topic of financial crises from stock market and banking perspective. Next, it compares regulation for both institutions on Czech national and EU level. Then, this thesis derives a formula for calculation of terminal debt ratio based on game theory and pricing of the options approach. Lastly, it tests limits of terminal debt ratio framework on companies listed on Prague Stock Exchange and concludes that terminal debt ratio framework is best applicable on non-financial companies that experienced moderate growth in stock price over the examined period.
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End of capitalism: Debt and trust economy
Buryš, Kristián ; Polák, Petr (advisor) ; Teplý, Petr (referee)
This paper examines the relationship between debt and trust in the finan- cial system and their potential impact on the capitalist system using a panel dataset of 400 Czech firms from 2018 to 2021. Specifically, the relationship between inflation, capital structure, firm age, and the debt-to-equity (D/E) ratio of firms in different sectors and size categories was investigated. To this end, we employed a fixed effect regression on each sector and size category in our data. Capital structure was found to have a positive relationship with D/E ratio in certain firm sizes and sectors and older firms were found to have lower D/E ratios than younger firms in some cases. Additionally, we used the logistic regression model to investigate the relationship between the occurrence of economic crises and three predictor variables, including the debt-to-GDP ratio, interest rate, and GDP. Our results from the logit model suggested that an increase in the Debt-to-GDP ratio and Interest Rates may increase the risk of an economic crisis or recession. JEL Classification B21, C33, D25, E44, E51, G01, G21, G32, P1 Keywords debt-to-equity ratio, capital structure, debt fi- nancing, Czech firms, capitalism Title End of capitalism: Debt and trust economy
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Financial Performance of European Cooperative Banks
Kuc, Matěj ; Teplý, Petr (advisor) ; Tůma, Zdeněk (referee) ; Tripe, David (referee) ; Witzany, Jiří (referee)
This dissertation consists of four essays dealing with the financial performance of European cooperative banks. We focus on a comparison between the performance of cooperative banks and that of shareholder-owned commercial banks. Furthermore, we compare different cooperative banking models in Europe, paying special attention to the Czech credit union sector. In the individual essays, we examine different performance measures depicting profitability, stability and cost efficiency. The topic of the financial performance of cooperative banks is highly relevant, as cooperative banks are structurally different from the standard commercial banking model and they have a significant market share in several European countries, while most of the empirical literature focused on banking financial performance is devoted solely to commercial banks. The first essay of this dissertation thesis empirically assesses the financial performance of Czech credit unions compared to that of cooperative banks from 15 European countries in terms of their profitability and stability. Employing dynamic panel data methods, we reveal that the performance of Czech credit unions in terms of both profitability and stability is worse than that of their European peers. In the second essay, we compare the financial performance of cooperative...
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The impact of the coronavirus crisis on zombie companies in Slovakia
Bosáková, Diana ; Geršl, Adam (advisor) ; Teplý, Petr (referee)
The thesis examines the effect of Covid-19-related financial support on companies in Slovakia in 2020 with a special focus on zombie firms. We examine changes in the number of employees, the average wage and the total costs for companies after receiving financial support. The cross-sectional and fixed effects models are used to determine the effect of the subsidy. Our dataset covers 6,771 large firms from which 7.6% are zombies and 2,547 SMEs in the period 2019-2020. The analysis showed that around 56% of large firms in the sample, both zombie and non-zombie firms, received a subsidy. The results suggest that companies which received the financial support had on average poorer job retention, lower average wage and the effect of the total costs of the company was not statistically significant. Nevertheless, currently available data brings a limitation to the construction of the control group. The thesis contributes to a better understanding of how the pandemic affected zombie companies and the efficiency of Covid-19-related measures on them.
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Bank's performance in low and negative interest rate environment
Hanzlík, Petr ; Teplý, Petr (advisor) ; Tripe, David (referee) ; Witzany, Jiří (referee) ; Tůma, Zdeněk (referee)
Dissertation thesis Banks' performance in low and negative interest rate environment Author: Mgr. Petr Hanzl'ık Abstract This dissertation consists of four empirical papers that focus on the performance of banks in the low or even negative interest rate environment characteristic for the decade after the global financial crisis of 2007-2009. The first paper focuses on the analysis of a re- lationship between the net interest margin (NIM) of EU banks and market interest rates in a low-interest rate environment while controlling for the impact of market concent- ration by examining a large sample of annual data on 629 banks from EU countries for the 2011-2016 period. The results show a positive concave relationship between NIM and short-term interest rates, deterioration of NIM for all types of banks and a higher market concentration leading to higher NIM. In the second paper, we examine the determinants of NIM of European and US banks in a zero lower bound (ZLB) situation while control- ling for institutional design factors, i.e. difference between capital-based and bank-based financial markets. We analyse a large sample of annual data on 629 European banks and 526 US during the 2011-2016 period confirming that NIM is significantly influenced by the different institutional designs. The third paper deals with...
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