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Investment activity of municipalities
HULANOVÁ, Natálie
This thesis deals with investment activities of municipalities in the Czech Republic, and it focuses on the capital expenditures and the factors that influence these expenditures. The theoretical part defines to the detail budgets, incomes and expenditures of municipalities. All this knowledge is used in the practical part of this thesis. In the first phase for the analysis is used aggregated publicly available data of expenditures of municipalities in the Czech Republic in the long-time period from 2010 to 2020 in terms of amount and dynamics. As follows the analysis of a selected sample of municipalities is also carried out using a panel regression analysis, which is used to test the statistical significance of factors that influence capital expenditures of municipalities. In the results of this thesis are identified the factors that significantly influence the capital expenditures of municipalities. It succeeded to show that the capital expenditures of municipalities in the South Bohemia Region influence tax incomes of the previous year, non-tax incomes, received investment transfers, indebtedness and debt service of the previous year, finances in bank accounts of the previous year, budget balance last year, interest rate and also the pre-election period.
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