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Empirical evaluation of the relative economic sovereignty of the EU: implications for anti-coercion policies
Kovalchuk, Olha ; Semerák, Vilém (advisor) ; Schwarz, Jiří (referee)
Zvýšené geopolitické napětí v posledním desetiletí odhalilo řadu hrozeb, které by mohly ohrozit relativní ekonomickou suverenitu Evropské unie. Pokusy velkých mocností, jako jsou USA, Čína a Rusko, ovlivnit politickou integritu EU prostřednictvím ekonomicky donucovacích opatření, ukázaly zásadní význam pro zajištění odolných dodavatelských řetězců. Tato práce poskytuje analýzu možných zranitelností dodavatelských řetězců EU v letech 1995-2020 na základě analýzy vstupů a výstupů a analýzy přímých dovozních závislostí na základě dat BACI. Modifikovaná metoda hypotetické extrakce, metoda globální extrakce, byla použita k měření účinků simulovaných šoků na ekonomiku EU ze zákazů dovozu ze strany hlavních světových mocností a naopak. Klíčové závislosti mezi EU a Ruskem, Čínou a USA byly zjištěny z hlediska přímých dovozních závislostí, meziproduktů a celkových vstupů, konečné poptávky a přidané hodnoty. Klíčová zjištění práce odhalují, že i když existuje vysoká míra vzájemné závislosti mezi EU a dalšími hlavními aktéry, důležitost obrany její ekonomické suverenity zůstává zásadní pro ochranu politické integrity EU před zahraničními donucovacími opatřeními.
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Social Enterprise-Centered Varieties of Capitalism: How does the variant of capitalism impact the social enterprise sector?
Lopinski, Justin James ; Schwarz, Jiří (advisor) ; Baxa, Jaromír (referee)
Sociální podniky představují způsob, jak využít již existující instituce a trhy k řešení sociálních potřeb, které nejsou dostatečně pokryty soukromým sektorem nebo státem. Sociální problémy, které se snaží řešit, jejich institucionální rámec a trhy na kterých operují jsou jedinečné v rámci svého národního nebo dokonce regionálního kontextu. To vytváří problémy s rozšiřováním a implementací úspěšných modelů do nových komunit. Tato diplomová práce definuje tyto institucionální kontexty pomocí teoretického rámce odvozeného z literatury o Modelech kapitalismu na základě srovnání ukazatelů ekonomické koordinace a vládní intervence v různých zemích. Pomocí regresních technik nejmenších čtverců na průřezovém souboru dat ze 49 zemí byly posuzovány následující tři výzkumné otázky. Zaprvé, má model kapitalismu vliv na sektor sociálních podniků? Za druhé, mají cílené snahy zaměřené na podporu podnikání vedlejší účinky, které prospívají sociálnímu podnikání? Za třetí, poskytují společnosti ve kterých převládají postmaterialistické hodnoty příznivější prostředí pro rozvoj sociálních podniků? Výsledky této analýzy ukazují, že zatímco komerční podnikatelská aktivita je pozitivně ovlivněna ekonomickou koordinací a negativně ovlivněna vládní intervencí, neexistuje důkaz, že by podobný vztah existoval i v případě...
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Reaction of retail investors to financial market movements and sentiment changes
Hromčík, Jakub ; Schwarz, Jiří (advisor) ; Petrásek, Lukáš (referee)
This bachelor thesis investigates two areas. First, we study the impact of sociodemographic attributes on retail ivnestors following robo-advice in the choices of ready-made portfolios of passive ETFs with unique risk levels by employing a logistic regression model. Second, we investigate the impact of sociodemographic attributes on retail investors' trading volume adjustments in periods of high expected market volatility as proxied by the VIX index, for which we employ panel data regression methods over 18 consecutive months during a relatively stable period from January 1st 2021 to the end of 2022. We find, in agreement with reasearch on human financial advice, that women are more likely than men to follow risk level recommended by a robo-advisor, while being a man is associated with assuming more risk than recommended. Due to model assumption issues, our results are rather inconclusive in whether men tend to react differently to periods of high expected market volatility. JEL Classification D90, D91, G40, G41, J16 Keywords ETFs, VIX, Robo-advisor, Ready-made portfo- lio Title Reaction of retail investors to financial market movements and sentiment changes Author's e-mail kubahromcik@gmail.com Supervisor's e-mail jiri.schwarz@fsv.cuni.cz
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Spillover effect on crime during the COVID-19 lockdowns in the Czech Republic
Vondrášek, Martin ; Mišák, Vojtěch (advisor) ; Schwarz, Jiří (referee)
This thesis seeks to assess the impact of COVID-19 restrictions on crime spill- overs within the context of the Czech Republic. To examine this effect, daily panel data are utilized, revealing that the implementation of COVID-19 mea- sures, such as restriction of free movement, has a significant negative effect on all crime categories, including Violent crimes, Property crimes, Offenses - BESIP, and Other offenses. The Ordinary least squares regression with fixed effects is used as a baseline model. However, due to the presence of spatially lagged dependent variable, a Spatial lag model with fixed effects is adopted to address this issue. Moreover, the analysis includes a z-test, which surprisingly demonstrates a statistically significant increase in the spillover effect in Offenses - BESIP during the COVID-19 period in the Czech Republic.
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Determinants of the Residential Real Estate Prices in Selected EU Countries
Rákosníková, Andrea ; Hlaváček, Michal (advisor) ; Schwarz, Jiří (referee)
This thesis aims to identify the determinants of real housing prices in the 13 newest EU member states. Determinants were identified using individual time series and aggregate panel analyses to ensure the best results. Cointegrating relationships were confirmed through testing and factored into the choice of estimation methods. The time series regression was done using the VECM, and the same method was used to test the theory that the capitals are the price leaders in housing markets. Results revealed that this effect is limited to only some markets, particularly affecting Czechia and Slovakia. Panel analyses, done using the PDOLS and ECM, were used to examine determinants and the speed of convergence of variables to equilibrium. The results of the aggregate panel regression showed that numerous determinants, namely the construction prices, GDP, number of housing permits, rents, and population, affect housing prices significantly. However, area-specific panels and time series models highlighted significant variations in results across countries. For example, GDP is not a significant determinant in V4 countries, while its effect is vital for the Balkans. The most surprising results were observed for Cyprus and Malta, where the relationships between the prices and determinants seem to be distorted by...
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Transfers and success of football players
Zatloukal, Kryštof ; Polák, Petr (advisor) ; Schwarz, Jiří (referee)
This thesis aims to investigate how successful are players' transfers to the English Premier League given their performance, characteristics and the characteristics of the transfers. The thesis defines the transfer success as the change in estimated market value of player. Collected data includes information about 101 players transferring into the EPL in the 2020 summer transfer window and is then analysed using OLS regression. The result of the regression showed that the better a player is performing before the transfer, the more successful his transfer is going to be. Furthermore, performance of the club, from which a player is transferring, has also shown to be a determinant of transfer success, with higher ranked clubs on the Kickalgor.com club ranking providing more successful transfers. Besides a player's individual performance and the quality of his previous club, his market value and age at the time of the transfer also play a significant role, with younger players with a lower estimated market value having more successful transfers. On the other hand, player's country of origin showed no significant effect, suggesting that nationality of a player isn't a determinant of successful transfer in the English Premier League. Keywords Football, Market value, Transfers, English Premier League, OLS...
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Globalization, Rule of Law and Wealth Inequality
Svěchotová, Anežka ; Horváth, Roman (advisor) ; Schwarz, Jiří (referee)
We examine the determinants of wealth inequality using new dataset consisting of a rich set of explanatory variables including rule of law, as well as different measures of globalization. We use the Bayesian Model Averaging (BMA) approach to account for model uncertainty. The BMA methodology allows to thoroughly compare a large number of potential determinants. Due to large differences in wealth inequality across different countries, the variables included reflect countries' various aspects, namely economic, geographical, regulatory, institutional, finance, globalization, political and demographic factors. Examining 39 potential determinants, we find five robustly related variables. Among them there are three financial development indicators, GDP growth and one geographical dummy for countries in Latin America and the Caribbean. On the other hand, some of the measures of globalization are correlated with wealth inequality; however, they are not its determinants. JEL Classification C33, E21, G51 Keywords wealth inequality, globalization, Bayesian Model Averaging (BMA) Title Globalization, Rule of Law and Wealth Inequality
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Economic Effects of Germans' Expulsion from Czechoslovakia Revisited
Kafková, Kateřina ; Baxa, Jaromír (advisor) ; Schwarz, Jiří (referee)
Economic Effects of Germans' Expulsion from Czechoslovakia Revisited Author: Bc. Kateřina Kafková Abstract This thesis studies long-run effects that expulsion of Germans from Czechoslovakia after World War II had on the Czech borderlands. Specifically, the thesis tests sensitivity of prior literature's findings by investigating previously not addressed potentially confounding factors - presence of military areas and border zone in the data; heavy air pollution in the North-West Bohemia during the communist regime; and impact of Wild expulsion in the Soviet liberation zone right after the end of World War II. Minor to no effects of these factors are revealed. Therefore, the findings of this thesis are in line with the findings of the existing literature - the expulsion of Germans caused higher unemployment, lower population density, lower employment in high- skilled sectors, and a lower share of population with secondary and tertiary education in the borderlands, when compared to the Czech interior, that lasts until today.
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Determinants of the average daily rate of Peer-to-peer accommodation in the Czech Republic
Řežábek, Pavel ; Pavlíček, Jaroslav (advisor) ; Schwarz, Jiří (referee)
This thesis investigates which characteristics of peer-to-peer accommodation affect its average daily rate. The study utilizes a unique dataset created with data on all accommodation offers in the Czech Republic, made directly from data downloaded from airbnb.com, which is the largest platform presenting short-term rentals outside hotels. The information about amenities and reviews of individual properties offering accommodation are firstly categorized. The effects of each such category together with information about size and location on the average daily rate are then investigated using the ordinary least squares method. The following parameters are found to have have the most significant effect on the average daily rate: location in Prague, the maximum number of occupants, hotel-type equipment, and luxury amenities.
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