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Assessment of Return on Investment in a Low-energy or Passive House
Ryba, Radim ; Šmahel, Milan (referee) ; Hlavinková, Vítězslava (advisor)
The subjects of this thesis are low-energy and passive houses. The main objective is to compare the acquisition costs and operating cost of the low energy and passive houses with conventional construction of houses offering the real estate market, respectively evaluating of investments in energy-efficient buildings. Furthermore, the work focuses on the history, properties and basic problems of designing energy efficient buildings with subsequent by an assessment of the advantages and disadvantages of their implementation. Klíčová slova
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Bank regulatory standards and supervision: The impact on the of banks' efficiency
Kufnerová, Andrea ; Fišerová, Tereza (advisor) ; Havránková, Zuzana (referee)
This thesis examines the bank efficiency and the impact of the regulatory and supervisory instruments on the efficiency of banks actively performing on the financial markets in the countries of European Union. Our analysis concerns 8-year time period, covering also the period of global financial crisis with the aim to determine possible changes in the relationship regulation versus efficiency. We apply SFA Fourier-flexible model for estimation of profit and cost efficiency scores. Consequently we use GLS panel data estimation in order to test for the regulatory determinants of efficiency, we have specified 6 various models with the focus on different regulatory instruments. Results firstly suggest that high cost efficiency does not necessarily imply high bank profit efficiency. Secondly, we uncovered the negative relation between market concentration, the level of development of financial market and the cost efficiency of foreign banks. Thirdly, we also found evidence supporting the assumption of positive impact of private monitoring and the independence of supervisory authority implying the increasing of transparency in the market. Additionally, we uncovered support for negative effect of activity and diversification restrictions. However, the results concerning the financial crisis period are...
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Bank Efficiency, Risk, and Capital in the Visegrad Group Countries
Fraňo, Filip ; Teplý, Petr (advisor) ; Lešanovská, Jitka (referee)
The aim of the thesis is to estimate the cost efficiency of the banks from the Czech Republic, Hungary, Poland, and Slovakia during 2008-2013 using stochastic frontier analysis. In addition to this, mutual relationships between the changes in banks' cost efficiency, risk- taking, and capital position are examined. First, the literature that is concerned with these relationships is reviewed and the stochastic frontier approach towards the efficiency estimation is outlined. In the empirical analysis, the cost efficiency of the banks from the aforementioned countries is estimated. The results suggest that the Czech and the Polish banks from the sample have the highest average cost efficiency while the Hungarian banks rank the lowest. The estimated efficiency is decreasing during the sample period. No conclusive results are found to support the hypothesis that the larger banks exhibit higher cost efficiency. Subsequently, the system of simultaneous equations is applied to test the mutual relationships between the changes in the banks' cost efficiency, risk-taking, and capital position. The results suggest a negative relationship between the changes in risk-taking and cost efficiency and between the changes in capital position and risk-taking of the banks. Moreover, the results do not indicate simultaneous...
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Bank regulatory standards and supervision: The impact on the of banks' efficiency
Kufnerová, Andrea ; Fišerová, Tereza (advisor) ; Havránková, Zuzana (referee)
This thesis examines the bank efficiency and the impact of the regulatory and supervisory instruments on the efficiency of banks actively performing on the financial markets in the countries of European Union. Our analysis concerns 8-year time period, covering also the period of global financial crisis with the aim to determine possible changes in the relationship regulation versus efficiency. We apply SFA Fourier-flexible model for estimation of profit and cost efficiency scores. Consequently we use GLS panel data estimation in order to test for the regulatory determinants of efficiency, we have specified 6 various models with the focus on different regulatory instruments. Results firstly suggest that high cost efficiency does not necessarily imply high bank profit efficiency. Secondly, we uncovered the negative relation between market concentration, the level of development of financial market and the cost efficiency of foreign banks. Thirdly, we also found evidence supporting the assumption of positive impact of private monitoring and the independence of supervisory authority implying the increasing of transparency in the market. Additionally, we uncovered support for negative effect of activity and diversification restrictions. However, the results concerning the financial crisis period are...
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Bank Efficiency, Risk, and Capital in the Visegrad Group Countries
Fraňo, Filip ; Teplý, Petr (advisor) ; Lešanovská, Jitka (referee)
The aim of the thesis is to estimate the cost efficiency of the banks from the Czech Republic, Hungary, Poland, and Slovakia during 2008-2013 using stochastic frontier analysis. In addition to this, mutual relationships between the changes in banks' cost efficiency, risk- taking, and capital position are examined. First, the literature that is concerned with these relationships is reviewed and the stochastic frontier approach towards the efficiency estimation is outlined. In the empirical analysis, the cost efficiency of the banks from the aforementioned countries is estimated. The results suggest that the Czech and the Polish banks from the sample have the highest average cost efficiency while the Hungarian banks rank the lowest. The estimated efficiency is decreasing during the sample period. No conclusive results are found to support the hypothesis that the larger banks exhibit higher cost efficiency. Subsequently, the system of simultaneous equations is applied to test the mutual relationships between the changes in the banks' cost efficiency, risk-taking, and capital position. The results suggest a negative relationship between the changes in risk-taking and cost efficiency and between the changes in capital position and risk-taking of the banks. Moreover, the results do not indicate simultaneous...
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Competition, efficiency and soundness in banking
Jankovská, Alžběta ; Geršl, Adam (advisor) ; Havránková, Zuzana (referee)
There is an ongoing debate whether the impact of competition on bank soundness is positive or negative. Traditionally, it was assumed that there is a trade-off between competition and bank soundness. On the other hand, some recent studies suggest that competition has a positive effect on bank soundness. In this thesis, we will focus on the concept of efficiency as a possible link between competition and bank soundness. Firstly, we will summarize different approaches to measure competition, efficiency and soundness in banking sector. Subsequently, we will focus on hypotheses formulated to describe the link between competition in financial sector and bank soundness, between efficiency and bank soundness and between bank competition and efficiency. The empirical part, we will examine whether there is a link between competition and soundness via efficiency channel. Our analysis is based on dataset contains commercial banks from Visegrad group during period 2008 - 2012. We will exploit the Boone indicator as a measure of competition, the SFA approach to obtain efficiency score and soundness will be derived from z-score. The empirical evidence confirmed the positive link between competition and bank soundness via efficiency channel.
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Assessment of Return on Investment in a Low-energy or Passive House
Ryba, Radim ; Šmahel, Milan (referee) ; Hlavinková, Vítězslava (advisor)
The subjects of this thesis are low-energy and passive houses. The main objective is to compare the acquisition costs and operating cost of the low energy and passive houses with conventional construction of houses offering the real estate market, respectively evaluating of investments in energy-efficient buildings. Furthermore, the work focuses on the history, properties and basic problems of designing energy efficient buildings with subsequent by an assessment of the advantages and disadvantages of their implementation. Klíčová slova
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Comparison of the health system in the Czech Republic and Slovakia in the period of time 2004-2014
Hirňáková, Sára Victoria ; Lukášová, Tereza (advisor) ; Zeman, Martin (referee)
The aim of the bachelor thesis is an analysis and comparison of health systems in the Czech and Slovak Republic in the period of time 2004-2014. The first part describes the models of health systems, the bodies of the health system and basic overview of both countries compared. The emphasis is on financing systems based on the total, public and private expenditure in relation to a share of GDP, absolute expression etc. Furthermore, the countries are also compared with particular selected demographic indicators. This thesis used the method of cost efficiency and the Euro Health Consumer Index 2014, which together contribute to a perspective on the health system's ffectiveness and they are used as an answer of the question whether the Czech health care system is more efficient or not. Work summarizes how the country manages funds on health care and how it is subsequently reflected in health systems.
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Ex-post evaluace neinvestičních projektů z oblasti propagace v cestovním ruchu financovaných z ROP Jihovýchod
Burdíková, Hana
BURDÍKOVÁ, H. Ex-post evaluation of non-investment projects in the field of tourism promotion financed from ROP South-East. Thesis. Brno, 2015. This thesis is concerned with evaluation in conditions of EU Cohesion Policy. The subjects of evaluation are non-investment projects financed from the Regional Operational Programme South-East, whose implementation falls within the programming period 2007-2013. It was selected a sample of five projects, which are focused on the development and promotion of tourism in the South Moravian Region and the Region Vysočina. The theoretical part is devoted to literature review, which focuses firstly on the general definition of regional policy, its specific application in the European Union and the Czech Republic. After putting in this necessary context, it is proceeded to explain the concept of evaluation, especially the difference between program and project evaluation and detailed description of subsequent (ex-post) evaluation. The conclusion of this part is determination of procedure of ex-post evaluation, which the author observes in practical part of the thesis. This part is devoted to a brief description of selected projects and the establishment of evaluation questions, together with its own indicator system. Quantitative analysis of the data is done in consideration of the goals of the thesis, which is assessment of cost-effectiveness of projects through cost-utility method CEA. Its conclusions are complemented and explained using information from qualitative analysis - individual interviews with representatives of the grant recipients. The results of this analysis are used to answer a set of evaluation questions and also to perform comparisons using the benchmarking method. In the last part of the thesis are formulated suggestions and recommendations for improving cost-effectiveness and quality of the examined projects for the grant recipients and the managing authority of the operational program.
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Analýza jednotlivých druhů veřejných služeb poskytovaných na úrovni municipality a způsob jejich financování
Polák, Petr ; Ochrana, František (advisor)
Tato práce analyzuje veřejné služby poskytované na úrovni nižších územně správních celků v České republice. V úvodní části se zaměřuje na jejich klasifikaci, na subjekty, které jsou s veřejnými službami spojené, a na formy jejich financování. Stranou nezůstává ani otázka kvality a dostupnosti. V praktické části jsou rozebírány údaje z městského úřadu v Tanvaldě, a to s akcentem na sociální služby. Poslední kapitola se zabývá organizační formou zabezpečování veřejných služeb - konkrétně v komunální oblasti - a jejím vlivem na nákladovou efektivnost.
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