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Funding districts of selected cities
Lišková, Jiřina ; Čermák, Jiří (advisor) ; Marcela, Marcela (referee)
This dissertation is focused on description, explanation and creation of financial relationships which are created based on criteria and weights between district and Capital of Prague and between districts and city of Brno. The reference period covers years between 2013 and 2015. In budget of Prague capital these transfers are labelled as subsidy relationship, in the city of Brno these transfers are labelled as non-purposed subsidy. This work identifies criteria which are determinative for amount of assigned income. The next section is an analysis of the management of the Brno-Chrlice and the district of Prague-Reporyje for the years 2007-2015. Part of this work is switching criteria and their weights for the district of Prague and the City of Brno and the conversion of financial relationships to one inhabitant of urban areas and evaluation of this change for the district.
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Statistical Yearbook of Prague - 2015
Český statistický úřad
Basic data on demographic, social and economic development in the capital of Prague in the years 2012 - 2014; selected indicators cover a longer time period. It contents data on administrative districts and city sections. Statistical data on big Czech cities is included. Brief characteristics of the region, graphs and cartograms.
Fulltext:  PDF
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Car Sharing as a Potential for Development of Individual Transport in Czech Republic
Husnajová, Nicol ; Král, Petr (advisor) ; Zlatić, Marija (referee)
This master thesis deals with the unique idea of sharing vehicles called car sharing. Thesis is divided into two parts, theoretical and practical. Theoretical part describes the basic concept of car sharing as a concept of a new development of a lifestyle spread around the world. Car sharing is described as a source of new ecological and convenient way of transport. This paper looks at the history behind the carsharing, car sharing organizations model as part of different forms of carsharing, as well as benefits and environmental effects that are associated with this revelation. It describes a view of this concept in different countries in Europe and in the US. Focus is then made on the situation in Czech republic, more specifically on the first carsharing company Autonapul on the czech market. Practical part emphasizes carsharing situation in Czech republic, providing list of different car companies on the market. It looks at situation in the capital city, Prague, and suggests the new marketing strategy for the oldest company.
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The Examination of the Capital Market´s Efficiency and the Selection of Suitable Capital Strategy
SLÁDKOVÁ, Petra
In my diploma I analyzed the USA capital market. I concentrated on 5 representative branches of this market - the biotechnology, the food industry, the car industry, the mining and the finances. 12 companies, which quote their share of stocks in the american capital market, were choosed. I tested the efficiency of this capital market and tried to establish the rate of this market´s efficiency. Later the best strategy was added to the rate of capital market´s efficiency. I counted the average decree, the standard deviation, the variation coefficient, the {$\alpha$} coefficient and {$\beta$} coefficient at the choosed share of stocks. I accomplished the correlative and the runs testing, which were supposed to certify the efficiency of market. The certain anomalies as The Day of the Week Effect, The January Effect and The Size Effect were investigated in more detail. Further I was considering if either the active or the passive strategy should have been used. I concluded that the active strategy is better for investors in times of the financial crisis. I also analyzed P/E ratio at choosed companies. The performated testing shows that the american market of shares is effective, it has the form of low efficiency peak-form efficient markets hypothesis.
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Total Factor Productivity Estimates
Vltavská, Kristýna ; Fischer, Jakub (advisor) ; Macek, Jan (referee) ; Čadil, Jan (referee)
The aims of the dissertation thesis are to provide the comprehensive economic-statistical viewpoint on the issue of estimating labour productivity and total factor productivity; to evaluate the quality of the available data sources and to test the usage of new inputs to the production function in the Czech Republic. The first chapter provides a theoretical basis for subsequent estimates of labour productivity and total factor productivity. The second and third chapters concentrate on a detailed definition of data sources and definitions of input and output indicators in the production function. Moreover, the second chapter introduces new approaches to the estimation of the input indicators to the production function (labour services, capital services). The fourth chapter deals with estimates of labour productivity. Specifically, the relationship of labour productivity and educational structures are examined as well as estimates for regions of the Czech Republic and estimates for non-market industry that do not allow the use of the traditional approach. The fifth chapter focuses on possible particularization and improvement of the estimation of total factor productivity using new input variables. The same chapter further compares the index number approach and econometric approach including the test of constant returns to scale. The estimation of total factor productivity in individual Czech regions is also part of the chapter.
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Aggressive earnings management in publicly traded companies and its impact on share prices
Sysel, Vladimír ; Veselá, Jitka (advisor) ; Musílek, Petr (referee)
The goal of this diploma thesis "Aggressive earnings management in publicly traded companies and its impact on share prices" is to connect an interesting topic of earnings management, which is part of a wider group -- financial fraud, with specific impact on the capital market. This thesis includes identification and quantification of the impact on a well known case of corporate fraud -- Enron. First part of the thesis describes and discusses the topic earnings management including its definition, motivation, tests, connected risk and legislation. Second part discusses share valuation techniques -- relative and absolute methods, which will be used in the last part. Last part of the thesis, using the well known case of earnings management -- Enron, quantifies the extent of earnings management, its impact on share prices and total damages caused to investors.
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Testing the efficiency of capital markets in European economies
Burianec, Dominik ; Pošta, Vít (advisor) ; Gawthorpe, Kateřina (referee)
This master´s thesis deals with testing the efficiency of capital markets. The subject to verification of the stock markets of Austria, Hungary, Germany, Great Britain, Czech Republic and Poland during the 2006-2016Q1. The aim of this work is to test the weak formo f efficiency in these markets. The hypothesis was tested using the ACF test ADF and KPSS tests, variance ratio test, run test and test of January effect.
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Comparison of basic characteristics (income, risks, degrees of effectiveness) in selected sectors and industries Stock Exchange
SAIKO, Michaela
The aim of this diploma work was to analyze a selected segment of the stock exchange market using the theory of market efficiency and the methods of technical and fundamental analysis, to form an optimal investment strategy on the basis of the findings. The American stock exchange market was analyzed. Six different segments of the capital market were selected ? gold, oil and gas pipelines, steel and iron, car parts, food and telecommunication services. Each segment was represented by eight companies. The general characteristics of the companies were compared according to their profits, degree of risk, alpha and beta coefficients. Fundamental analysis was used to monitor the correlation between future profits for 2012 and alpha coefficients for the period 2007 ? 2011. The theory was proven ? at low levels of future profits, high levels of alpha coefficients were measured and vice versa - at high levels of future profits, low levels of alpha coefficients were measured. During efficiency tests, runs tests and correlation tests were monitored. During runs tests, the number of turns of a real file was compared with the number of runs of a simulated file; no distinctive variances were identified in the monitored stock titles. Forms of market efficiency were proven during the correlation tests and runs tests. The methods of technical analysis used were sliding averages, RSI indicators and Momentum. Trading on the basis of technical analysis is not completely possible because we did not succeed in finding an existing optimal strategy. If an optimal strategy works out it is regardless of the segment?s characteristics. I recommend a passive strategy with regards to the fundamental analysis.
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Influence of economical crises on weak efficiency of capital markets
Minařík, Štěpán ; Teplý, Petr (advisor) ; Vošvrda, Miloslav (referee)
In first part of my research a describe different ways of measuring weak efficiency of capital markets. In second part I explore economical crises in five various countries (Argentina, Malaysia, Mexico and Czech Republic) and I enounce hypothesis of effect of economical crises on weak capital market efficiency. In the end by using some tests (variance ratio test, run test, break event test) and discussion of results according to hypothesis I verify an availability of statement if crises has any influence on capital market weak efficiency. Powered by TCPDF (www.tcpdf.org)
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The impact of the EU Financial Support on Economic Growth of the Czech and Slovak Regions
Kolaříková, Jana ; Wokoun, René (advisor) ; Piecha, Marian (referee) ; Buček, Milan (referee)
One of the goals of the economic, social and territorial cohesion is to reduce regional disparities between member states of the European Union. For this purpose the structural funds and the Cohesion Fund were established(among other things). The theoretical part of this thesis presents the issue of regional disparities and ways how to measure them. In view of the lack of consistent definition of this concept, there are number of measurement and evaluation methods. Furthermore, the work focuses on the implementation of cohesion policy and ways of measurement of their impact on development and growth of regions. The practical part of this thesis presents, evaluates and compares the regional disparities between the regions of the Czech Republic and the Slovak Republic via selected methods and assesses the impact of the financial support provided from the Structural Funds and the Cohesion Fund in the programming period 2007 - 2013 on economic growth of regions in the Czech and Slovak Republics. Following indicators are included: gross domestic product, unemployment rate, gross fixed capital formation and the rate of economic activity. The influence of the subsidy on the economic growth of regions is validated through the panel data analysis, namely a panel model with fixed effects, and Granger causality test. First, we investigated the impact of this support on the economic performance of regions where it is verified whether there is a relationship between economic performance of NUTS III regions in the Czech and Slovak Republics, characterized by gross domestic product and the unemployment rate, and the amount of the subsidy. Furthermore, it is verified whether the amount of subsidy depends on the level of regional gross domestic product. Dissertation contributes to the discussion about the impact of support from EU funds in the Czech and Slovak Republics, focusing on the regional level, and answers the question of reducing regional disparities using the Structural Funds and the Cohesion Fund.
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