|
|
Issues Of Community Financing In The Czech Republic
Dvořák, Tomáš ; Vozárová, Pavla (advisor) ; Chytilová, Helena (referee)
This thesis is focused on issues of community financing, also known as crowdfunding, that is at present a popular form of obtaining financial resources to different projects. In my thesis, I explore a data set of 150 observations of individual projects from the platform HitHit, which operates in the Czech republic. The empirical part reveales the influence of different factors on the success of a crowdfunding campaign. Some of the significant factors are different ways of spreading informations (web pages, social networks or television broadcast), variability in offered rewards, aspects of the video on the platform, local restrictions, demanded amount of money, but also the length of a project description. The main contribution is the revelation and explanation of some factors and the use of econometric models in Czech crowdfunding scene.
|
|
|
The Impact of EU investments on a stable economic development through government expenditure
Kroc, Patrik ; Vozárová, Pavla (advisor) ; Čermáková, Klára (referee)
The aim of my bachelor thesis is to test the hypothesis claiming that increase in the total allocation of European Structural and Investment Funds will foster economic growth and reduce unemployment in recipient countries. The econometric analysis has been based on a fixed effects method applied on annual panel data stemming from annual observations carried out in 26 EU Member States in a period 2004-2014, or in 21 EU Member States in a period 2000-2014. It has not been possible to verify the above mentioned hypothesis in the framework of a modified New Keynesian´s growth model and Fedeli´s (2014) unemployment model. The problem partly lies in the crowding out of public spending to alternative uses, which the European Commission cannot efficiently prevent.
|
|
|
Vliv holandského syndromu na Venezuelském mezinárodním obchodu
Karimov, Hamid ; Stroukal, Dominik (advisor) ; Vozárová, Pavla (referee)
This thesis proves that Venezuela is going through the so called and shows all the effects of this disease to international trade indicators and finally evaluates which proposal how to help Venezuela to deal with it is most in line with the empirical data from World Bank and FRED. All the empirical evidences for Dutch disease worldwide effects are demonstrated on Oman, Kazakhstan, Azerbaijan, Ghana and Norway. The hypothesis about influences of Dutch disease on international trade of Venezuela was proved and discussed by correlation analysis. Among key focused metrics are included GDP growth, Exports and Imports of goods and services, Unemployment, General government final consumption expenditure and Real effective exchange rate.
|
|
|
The Influence of Monetary Policy on Real Estate Market as a Potential Catalyst for Economic Crisis
Suský, Stanislav ; Vozárová, Pavla (advisor) ; Chytil, Zdeněk (referee)
The thesis focuses on the influence of target interest rates set by central banks to stimulate property markets, in particular on the impact of these rates on real estate pricing and the subsequent bubbles in the housing market. In my work I analyse panel data portraying the quarterly performance of 29 European states from early 2000 till the end of second quarter of 2015. In the first part I investigate the influence of interest rates on property prices and find out that a one percentage point decrease of the target interest rate by the central bank resulted in a rise of 0.897 points in the house price index. In the second part I evaluate the impact of this instrument on the creation of a housing bubble, which is represented by the indicator of housing price sustainability. I estimate that an decrease in interest rates by one percentage point is concomitant with a increase of growth of the price bubble by 0,28 %. I thus validate my hypotheses on the negative correlation between the aforementioned variables.
|
|
|
PATENTOVÁ PŘIHLÁŠKA JAKO NÁSTROJ CENOVÉ A KONKURENČNÍ POLITIKY FIRMY
Mráz, Radim ; Vozárová, Pavla (advisor) ; Kovanda, Lukáš (referee)
Thesis analyses relevance of patent application in competitive and price policy of company. Patents are generally current topic, patents have significant impact on the market structure. Filing a patent application is the first step to granting a patent. Base of the thesis is economic model, which is built to be as much similar as possible with real market of the company. That company provided to me data which are necessary for this thesis. Entire model is built on decision making of that company about development start and filing patent application. In the end of this thesis there are substituted real company data into the model. This substitution proves that filing the patent application has significant impact on competitive situation on the market.
|
|
| |
|
|
Is the development of the number of realized M&A transactions procyclical?
Červinková, Kristýna ; Stroukal, Dominik (advisor) ; Vozárová, Pavla (referee)
The aim of the thesis is to reveal the relation between business cycle and the number of transactions considering mergers and acquisitions. For this purpose the appropriate macroeconomics indicators have been chosen. The base hypothesis, which stands for the procyclical development of transactions, was examined by regression analysis of panel dataset containing quarterly based data from The Visegrad Group countries in the period from 2000 to 2014. The ordinary least square method together with robust estimation of standard deviation provided the confirmation about positive relation of the quarter change of GDP as the main explanatory variable and the number of transactions. Nevertheless, more robust findings appeared in case of significance of stock markets and public debt. The positive relation of the stock price was proven to be in accordance with the behavioral theory. The increase in transaction activity is capitalized through the profit from the sold of overprized stocks. Unexpected result about positive relation of public debt required the specification of assumption about the lower preference of smooth consumption of The Visegrad group households.
|
|
|
Which Factors Drive Growth of Demand for Passenger Air Travelling?
Ondrejová, Zuzana ; Chytilová, Helena (advisor) ; Vozárová, Pavla (referee)
Is GDP per capita one of the main drivers affecting demand for passenger air travelling? Based on the time series analysis conducted for North American and Middle Eastern region, we have not rejected hypothesis about positive impact of GDP per capita on demand for air travelling. The thesis also analyzes whether the effects observed are weaker for more developed and more saturated markets. The second hypothesis was rejected, as we have found that the effect of the GDP per capita was on average 10% stronger for the North American region than for the Middle Eastern region. Moreover, we have found that for both regions oil prices are the important driver of the passenger air travel demand.
|
|
|
Influence of the amount of real expenditures from Structural funds od EU on the number of patent applications filed by Czech applicants
Lehejčková, Lucie ; Stroukal, Dominik (advisor) ; Vozárová, Pavla (referee)
Abstract The importance of investments in R&D was proved in several papers. These investments can influence innovative activity, which in turn, can spurs economic growth. Therefore, it was chosen to analyze the relation between amount of real expenditures of Structural funds of EU intended to R&D acitivities in CR and innovative activities, measured by number of submitted national patent applications by czech applicants in this diploma thesis. There are observed a direction of the impact, its approximate size and signifikance within several variations of models and chosen time lags. There is also compared the influence of real expenditures from EU funds and from czech resources. The results of this thesis shows, that there exists a positive relation between the two major variables, real expenditures from EU resources and number of submitted national patent applications in CR. It was also found out, that the size of the impact is not large, nonetheless, this impact was significant in a few cases. Results also confirm, that the impact of the expenditures is lagged by some time. Finally, the real expenditures of CR have the opposite direction of the impact and they are significant in all estimates.
|
|
|
Testování kvality predikcí: vyhodnocení modelu g3
Tkáčik, Marcel ; Vozárová, Pavla (advisor) ; Janíčko, Martin (referee)
Recent developments of New Keynesian models attracted many central banks to develop their own DSGE models for policy analysis and forecasting. The aim of this study is to evaluate the quality of the predictions made by the Czech National Bank which developed its own DSGE model and use it as the core forecasting model from July 2008. The quality of the predictions has been evaluted by comparing it with the Ministry of Finance of the Czech Republic and two commercial banks (Česká spořitelna and Komerční banka). Using the econometrical tests for the structural break and time series analysis, it has been concluded that the Czech National Bank experienced significant improvement in its prediction quality when employing the DSGE model, and surpassed the other three institutions. This study suggests that a well-specified DSGE model may enhance the prediction quality of key macroeconomic indicators compared to non-structural models and expert judgment.
|
guest ::
RSS feed.