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Economical efficiency of selected crops growing in conventional and organic farming system - case study
POKORNÁ, Kamila
The diploma thesis focused the economic efficiency of growing oat and spring barley in a conventional and organic farming system during 2018 to 2022. The thesis is divided into two parts, the literary part and the practical part. The literary part describes economic efficiency, agriculture, agricultural subsidies and selected crops. The practical part includes calculating the profitability of crops in both systems. The basic rate of profitability was determined based on the revenues, purchase prices and costs of each business. In the end, financial support in the form of subsidies to which the selected companies are entitled are added to the calculation of profitability. In addition to the calculation itself, the thesis includes the causes of the resulting difference in efficiency between the two systems.
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Analysis and design of the use of the existing building in Brno
Jeřábek, Ladislav ; Sadílek, Augustin (referee) ; Čech, Josef (advisor)
The thesis deals with the analysis and design of a new use of an existing building using the highest and best use method, also known as HABU. The first part focuses on the current state of knowledge and describes the issue in theoretical terms, mainly explaining concepts from the field of construction and real estate valuation. This chapter is supplemented by a research describing the use of the HABU method in the Czech Republic and abroad. In the following sections, the problem is formulated, the objectives of the solution are set and the procedures used to achieve them are also defined. In the design part, individual variants of possible use are presented, which are subjected to tests of the mentioned method. The option achieving the highest evaluation represents the highest and best use of the building.
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Forced migration from Chechnya in a time of Chechen wars
Paramonova, Svetlana ; Drbohlav, Dušan (advisor) ; Jelen, Libor (referee)
This master thesis deals with a study of forced migration from the Chechen republic during Chechen wars in 1996-2002. The aim of the paper is to contribute to the study of migration strategies of refugees from Chechnya. This qualitative study attempts to grasp the complexity of forced migration process and to depict it from the perspective of refugees. It explores motives and strategies of mobility of the Chechen refugees now living in Russia and Austria and of those refugees, who have returned to Chechnya after the war was over. The impact of this armed conflict on population mobility was examined with a qualitative research of sixteen refugees, who had left Chechnya because of the war. The results of the research show the link between refugee's age and likelihood of return, differences in decision-making of Chechen and Russian refugees, and the strong influence of the social networks on the decision-making and after arrival at destination. Key words Chechnya, forced migration, reasons for migration, destinations, returns, qualitative approach
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Financial Crime and Punishment: A Meta-Analysis
de Batz, L. ; Kočenda, Evžen
We examine how the publication of intentional financial crimes committed by listed firms is interpreted by financial markets, using a systematic and quantitative review of existing empirical studies. Specifically, we conduct a meta-regression analysis and investigate the extent and nature of the impact that the publication of financial misconducts exerts on stock returns. We survey 111 studies, published between 1978 and 2020, with a total of 439 estimates from event studies. Our key finding is that the average abnormal returns calculated from this empirical literature are affected by a negative publication selection bias. Still, after controlling for this bias, our meta-analysis indicates that publications of financial crimes are followed by statistically significant negative abnormal returns, which suggests the existence of an informational effect. Finally, the MRA results demonstrate that crimes committed in common law countries, alleged crimes, and accounting crimes carry particularly weighty information for market participants. The results call for more transparency on side of enforcers along enforcement procedures, to foster timely and proportionate market reactions and support efficient markets.
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Influence of German Bundestag Elections on the Stock Market Performance in Visegrad Group Countries
Skála, Jakub ; Horváth, Roman (advisor) ; Chytilová, Julie (referee)
This thesis deals with the behaviour of stock markets during the period of election process. We focus on the influence of elections to the German Bundestag on stock market performance of the countries allied in Visegrad Group during the reference period 1994-2013 covering six Bundestag elections. Germany is a major export partner for all members of Visegrad Group - the Czech Republic, Hungary, Poland and Slovakia. We examine whether there are abnormal returns on stock markets in Visegrad Group countries around the date of German Bundestag elections. We thus examine if the fact that performance of German economy is important for performance of economies of countries allied in Visegrad Group means that Bundestag elections influences their stock markets. We also analyze the influence of elections to German Bundestag on domestic stock market during the reference period 1961-2013. To measure the effect of elections we employ event study methodology using the mean-adjusted return model to measure normal returns. Our event window consists of 65 trading days around the election day (-15,50). We use the estimation window of 100 days (-150,-51). We assess our main hypothesis for each country around every Bundestag elections in our reference period separately over three event windows and also over eight event...
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Situation of Serbian Refugees from Croatia and Bosnia in Serbia (2002 - 2012): Case Study Grupa 484
Mádlová, Tereza ; Králová, Kateřina (advisor) ; Šístek, František (referee)
This work deals with Serbian refugees from Bosnia and Herzegovina and Croatia, who had gone to Serbia under the pressure of events taking place in the Balkans in the first half of the 90th years. Their number reached over 500,000. Initially, the state was paralyzed by internal social, political and economic problems. After 2000, the fall of Slobodan Milosevic's regime, the new government began to actively address the issue of refugees. They were looking for a concept that would best solve their situation. Finally in 2002, they found the way and defined the specific objectives of the government's in National Strategy for dealing with refugees and internally displaced persons. The returns to the country of origin that was expected to be the main solution did not accomplish according to plan, therefore, the government decided to focus on the integration of refugees into Serbian society. During the period 2002-2012 Serbia has managed to stabilize the situation and to drastically reduce the number of refugees. High influence should be admitted also to nonprofit sector. The paper pointed out this fact. Case study analyzes the activity of Grupa 484, which dealt with the issue of the refugees from the very beginning and its work has had an impact on the solution of the refugee situation in Serbia.
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Business Plan - Development Project of the Construction of Homes for the Elderly
Staňa, Marek ; Mládek, Josef (referee) ; Heralecký, Tomáš (advisor)
This bachelor thesis focuses on the development project, the construction of low-energy, passive houses for the elderly. The work compares and assesses the effectiveness of the investments from the investor's perspective, but also from the perspective of macroeconomics. The saving impact on the environment is also considered. The attention is also given to the used construction materials in terms of health and comfort of future customers of these buildings.
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Range-based volatility estimation and forecasting
Benčík, Daniel ; Baruník, Jozef (advisor) ; Krištoufek, Ladislav (referee)
In this thesis, we analyze new possibilities in predicting daily ranges, i.e. the differences between daily high and low prices. The main focus of our work lies in investigating how models commonly used for daily ranges modeling can be enhanced to provide better forecasts. In this respect, we explore the added benefit of using more efficient volatility measures as predictors of daily ranges. Volatility measures considered in this work include realized measures of variance (realized range, realized variance) and range-based volatility measures (Parkinson, Garman & Klass, Rogers & Satchell, etc). As a subtask, we empirically assess efficiency gains in volatility estimation when using range-based estimators as opposed to simple daily ranges. As another venue of research in this work, we analyze the added benefit of slicing the trading day into different sessions based on trading activity (e.g. Asian, European and American session). In this setting we analyze whether whole-day volatility measures reliably aggregate information coming from all trading sessions. We are led by intuition that different sessions exhibit significantly different characteristics due to different order book thicknesses and trading activity in general. Thus these sessions are expected to provide valuable information concealed in...
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Parliamentary Elections and the Stock Markets: Evidence from CEE countries
Bláhovec, Tomáš ; Štiková, Radka (advisor) ; Turnovec, František (referee)
The thesis deals with electoral and partisan cycles in stock returns of nine CEE countries and checks consistency of observed cycles with efficient market hypothesis. The evidence mostly supports possibility of political influence on stock markets, but the effects often have opposite sign than hypothesized. Electoral cycle has been found in Estonia and Hungary, while returns in four other countries are significantly lower before elections. Markets more often exhibit left-wing premium, it is significant in the Czech Republic, Lithuania and Romania. The results are similar between nominal and real returns. Both cycles are also considered significant for the panel of countries. Moreover, cycles are hardly explainable by macroeconomic conditions, which indicates market inefficiency. This is confirmed by analysis of volatility, which reveals that risk does not correspond to changes in returns induced by the cycles.
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