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Standing Tall Pays Off: A Meta-Analysis of Height Premium
Juračková, Martina ; Havránková, Zuzana (advisor) ; Polák, Petr (referee)
As has been demonstrated by empirical research, height is an important physical feature impacting various aspects of the life of an individual. This thesis deals with the relationship between height and income, also referred to as height premium. With the help of modern meta-analytic methods, we aim to quantitatively summarize the empirical evidence on the impact of height on income. After introducing the topic of height premium, data collection and methodological framework, we test for publication bias. The analysis is conducted on 1084 height premium estimates collected from 67 studies. The results of publication bias testing indicate that height premium literature contains positive publication bias which persists even after we control for additional variables capturing study characteristics or, in other words, the heterogeneity of collected estimates. Based on Bayesian Model Averaging results, we conclude that geographical factors, the longitudinal nature of the dataset, restriction of the dataset with respect to gender, or adding a gender control variable into the regression are the most important factors explaining the variability of height premium effects.
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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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Comparison analysis of selected Sustainable and Conventional Exchange-traded funds
Lapčáková, Kateřina ; Polák, Petr (advisor) ; Baruník, Jozef (referee)
In this thesis, we conduct a comparison analysis of sustainable and conventional exchange-traded funds in terms of their monthly returns in the global market during the sample period from 2018 to 2022. This thesis employs a multi-factor model approach using the CAPM, Fama-French 3-factor and Carhart 4-factor models that are used in the empirical analysis. In addition, risk-adjusted mea- sures such as Sharpe and Treynor ratio and Jensen's alpha are employed. The results imply that there is no significant di erence between the financial per- formance of the conventional and sustainable and socially responsible ETFs. JEL Classification F12, F21, F23, H25, H71, H87 Keywords exchange-traded funds, ETF, sustainability, ESG criteria, sustainable and responsible invest- ing, SRI, passive investing, performance mea- surement, comparison analysis Title Comparison Analysis Between Selected Sustain- able and Conventional Exchange Traded funds
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Willingness to pay for houseplants in the Czech Republic
Halouzková, Eliška ; Polák, Petr (advisor) ; Šťastná, Lenka (referee)
This thesis examines consumers' willingness to pay for houseplants in the Czech Republic. The data for the thesis were collected via self-developed question- naire. From the data, two regressions were created. First one measured the willingness to pay for houseplants, the second measured factors influencing the exact prices respondents are willing to pay. The study found that several factors, such as gender, previous houseplant purchase, the perception of house- plants as a home decor item, preference for artificial plants, view of houseplants as a hobby and whether houseplants improve their mental health have signif- icant influence on the willingness to pay. The significant factors for the price the respondents pay was university education, preference for low maintenance houseplants, place of purchase, size of the houseplant and recent houseplant purchases.
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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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Second-hand Board Game Price Analysis
Novotný, Lukáš ; Polák, Petr (advisor) ; Pertold-Gebicka, Barbara (referee)
This thesis investigates the determinants of price and value retention of pre- owned board games in the United States market. It is most likely the first thesis applying the hedonic pricing method to the board game industry. Two depen- dent variables, price and the portion of the original manufacturer's suggested retail price that remains, were modelled using various game characteristics. The analysis is performed on data obtained primarily from BoardGameGeek. Applying multiple linear regression and Ordinary Least Squares method on the cross-sectional sample of over 2000 observations, several factors were estimated to be significant. Condition, rating, age, complexity, duration and weight of the box turned out to be the most crucial board game value drivers. Moreover, in the case of regression on residual price share, the most significant predictors appeared to be condition, age and rating. Keywords second-hand market, board game, hedonic pric- ing model, OLS regression Title Second-hand Board Game Price Analysis
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PPI and CPI: What is the relationship?
Červený, David ; Polák, Petr (advisor) ; Havránek, Tomáš (referee)
This bachelor thesis examines the relationship between the PPI and the CPI in the Czech Republic and the euro area. The primary method used in this thesis is the Granger causality test. Granger causality between the price indices is tested for in a bivariate model and also conditional on other variables describing the development of real GDP, a given monetary aggregate and wages. The most apparent conclusion that can be drawn from the empirical results indicates that the PPI Granger-causes the CPI in the Czech Republic and that there is no Granger causality going from the CPI to the PPI in the euro area. These results are consistent with conventional economic theory, which suggests a pass-through effect in the production chain going from producer prices to consumer prices.
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High Frequency Price Index of Construction Materials
Štefl, Josef ; Polák, Petr (advisor) ; Čech, František (referee)
The paper explores the possibilities of using big data in economics in an effort to shift research from a study of statistical samples towards basic populations. To this end, the Construction Materials Price Index was created to capture price level movements in this market segment on weekly basis. This specific field was chosen because, despite its signi- ficance, it has not yet been examined in much detail by the Czech Statistical Office. The underlying index data represent the complete offer of the three most significant Czech eshops with building materials, which is periodically obtained through web scraping. The research took place between October 2021 and June 2022. The nine-month evolu- tion of the index reflects the economic recovery after the covid-19 pandemic, but also the sharp market response after the Russian invasion of Ukraine. This bachelor thesis contains a detailed description of the methods used as well as a thorough analysis of the results. JEL classification Keywords Title C43, C55, C80, E31, E37 inflation, high frequency price index, big data, web scraping, construction materials price level High Frequency Price Index of Construction Materials High Frequency Price Index of Construction Materials Josef Štefl
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