|
|
Determination of firm boundaries: Influence of regulations and rule of law on firm size
Dočkal, Ondřej ; Cahlík, Tomáš (advisor) ; Schwarz, Jiří (referee)
Study of determinants of firm size is important for policy making and economic theory, because much of economic growth takes place within firms and firms are prevailing form of organisation of production units in modern economies. Theory o↵ers contradictory views on e↵ect of quality of regulations and rule of law on firm size. Better regulatory quality in the environment of post-soviet countries enables firms to become larger. In the case of rule of law, the relationship seems to be rather fragile and of a more complex nature with ambiguous e↵ects, hence the matter re- mains subject of future research. Regulatory quality and rule of law explain only very little part of variations in growth rates of firms. Keywords: firm size determination, quality of regulations, rule of law, industrial organisation Character count: 73 717 Abstrakt Studium determinantů velikosti firem je důležité pro vytváření politik i ekonomickou teorii, protože velká část ekonomického růstu je způsobena růstem existujících firem a firmy jsou převažující formou organizace produkčních jednotek v moderních eko- nomikách. Teorie přináší protichůdné pohledy na vliv kvality regulace a právního státu na velikost firem. V prostředí postsovětských zemí je růst kvality regulace spojený s růstem velikosti...
|
|
|
Does Money Guarantee Success in Football?
Milenovský, Martin ; Cahlík, Tomáš (advisor) ; Cingl, Lubomír (referee)
E ciency wages theory says that better-paid workers are more productive. However, in sports it is often neglected as success is still attributed to greater talent, or luck than simply to a higher wage bill. Dealing with the issue of wages in sports is one of the most essential topics of sports economics. In the thesis we confirm that wages are statistically significant in explaining variation in performance in English, German, Czech, and Slovak top football leagues as well as in specific Northern American Major League Soccer. We conclude that the more restrictions and player transfer barriers there are, the smaller the role of wages is in determining performance. Apart from wages we deal also with transfer fees and find out that their role is overestimated by media and in reality their e↵ect is more disruptive than helpful. JEL Classification Z20, Z21, Z22, J30, J31, J39, L83 Keywords football, wages, wage budgets, transfers, pay- performance, professor salaries Author's e-mail martin.milenovsky@gmail.com Supervisor's e-mail cahlik@fsv.cuni.cz
|
|
|
Financial Development and Economic Growth in China
Gerile, Naren ; Cahlík, Tomáš (advisor) ; Manchin, Miriam (referee)
OF MASTER THESIS The master thesis called Comparative analysis of George Bush Junior second term and Barack Obama second term foreign policy towards Iranian nuclear program till 2015 submits broader understanding of George W. Bush and Barack Obama presidency in terms of their Middle Eastern policy, concretely the issue of Iranian nuclear policy. The main interest lies in an intention to conclude which particular circumstances led American governments to rethink its position towards Iranian nuclear program, bearing in mind changes which took place in security, economic and foreign policy interests of the United States. Closer analysis of the economic sanctions, wars in Syria and Iraq, changes of the Iranian political elites, menace of Israelian air strikes against key iranian nuclear, industrial targets and main infrastructure capacities will create supporting arguments to answer the examined question: Which aspects in particular, and why led to the significant changes in the American foreign policy towards Iranian nuclear pogram during the last decade. Anotace diplomové práce Diplomová práce Komparativní analýza druhého prezidentského období George Bushe mladšího a druhého prezidentského období Baracka Obamy se zaměřením na problematiku Íránského jaderného programu do roku 2015 se zabývá širším...
|
|
|
Principles of Information Economy and Impact of IT on Company's Value-Added: A Cross-Industry Analysis
Láníček, Adam ; Cahlík, Tomáš (advisor) ; Polyák, Oliver (referee)
The industrial age was bound to end when the microprocessor was invented. Even though the classical economic theory applies for today as well as for the 1960s, the last thirty years were symptomatic by the change of the fundamental characteristics of the economy and information technology plays a key role in this process. The aim of this thesis was to describe the principles and micro- and macroeconomic phenomena present in the New Economy of today, the challenges that the companies face in this environment and, finally, to conduct a cross-industry analysis on the impact of IT on company's performance, namely value-added. The empirical results did not show any clear patterns among the industries and therefore no significant relationship between the share of information technology assets of total assets and company's value-added could be proven. One of the reasons for that could be the technical issues regarding the statistical measurement of IT which also remains the biggest challenge for the researchers in this field.
|
|
|
A Panel Data Analysis of Sub-Saharan Africa's Economic Growth
Hostačný, Jakub ; Cahlík, Tomáš (advisor) ; Bobková, Božena (referee)
This thesis examines the relationship between real GDP per capita growth rate of Sub-Saharan Africa countries and various variables suggested by theoretical literature related to Solow model or endogenous growth theories. The set of most commonly used variables is further extended by additional variables which have not been given an ample attention in the context of analysis of SSA countries' economic growth so far. The econometric analysis uses unbalanced panel data set comprising annual observations on 45 SSA countries between 1980 and 2011 applying a simple pooled OLS and FE estimation. We also touch IV estimation to address endogeneity problem. Moreover, we test the sensitivity of parameter estimates. Along with the analysis of total set of SSA countries, we subgroup countries into 4 groups - oil exporters, middle-income countries, non-fragile low-income countries and fragile countries. We present results for each group. The results support the findings of earlier empirical studies related to most commonly variables associated with economic growth, except the negative effect of population growth rate and conditional convergence hypothesis. The analysis of additional factors reveals the strong relevance of latitude, colonial heritage and landlockedness, while no systematic effect of neither...
|
|
|
Impact of Information Technologies on Unemployment: Spatial Analysis
Záhlava, Josef ; Cahlík, Tomáš (advisor) ; Macek, Petr (referee)
This thesis analyses the impact of information and communication technologies (ICT) on unemployment in international context. The thesis summarizes the knowledge and research outcomes on the impact of ICT on the economy both on micro and macroeconomic level and deducts implications for unemployment. Moreover, the thesis assesses the impact of international economic integration on unemployment and labour market situation. Using ICT is beneficial for eco- nomic growth and labour productivity. This leads to decrease in unemploy- ment rate. The impact of ICT differs both among sectors of the economy and groups of workers by qualification. The unemployment rate is internationally autocorrelated due to international economic integration. In close countries it follows similar development. Based on empirical research of panel data of ele- ven european countries for years 1996 to 2007, international autocorrelation in unemployment rate and beneficial impact of ICT in lowering unemployment rate were confirmed. However, due to violation of necessary assumption of nor- mality, the results of MLE analysis need not be valid. This can be tackled by employing different estimation method, perhaps 2SLS. 1
|
|
|
Six Essays on Meta-Regression Analysis
Havránková, Zuzana ; Dědek, Oldřich (advisor) ; Cahlík, Tomáš (referee) ; Babecký, Jan (referee) ; Fidrmuc, Jarko (referee)
This dissertation thesis consists of six papers on macroeconomics, international economics, and energy economics. All the papers are tied together by the use of meta-regression analysis, which is essential for the derivation of robust policy-relevant conclusions from often conflicting results presented in the empirical literature. I use meta-analysis to quantitatively synthesize the reported research results on a given topic, correct the literature for publication selection bias, and filter out the effect of various misspecifications present in some primary studies. My results can be summarized as follows: 1) The elasticity of intertemporal substitution in consumption, a key input to all dynamic models in finance and macroeconomics, varies significantly across countries. The differences can be explained by the level of stock market participation, when countries with higher participation exhibit larger values of the elasticity; the mean reported elasticity is 0.5. 2) The effect of borders on international trade, which most authors find to be surprisingly large, can be explained away by innovations in methodology introduced in the last decade. When these innovations are taken into account jointly, the border effect disappears for developed countries, and is relatively small for developing countries. 3) When...
|
|
|
The impact of Online Banking on Bank Performance
Halili, Rrezarta ; Cahlík, Tomáš (advisor) ; Fišerová, Tereza (referee)
The performance of commercial banks is changing due to the technology improving day by day. The purpose of this study is to highlight the challenges that are derived from Adoption of online banking. The engage of the five European countries with a period of study from 1999 - 2010 to adoption of online banking is the core idea of this study. The empirical analysis would employ data obtained from 22 commercial banks from the following countries: United Kingdom, Germany, Czech Republic, Latvia, and Poland. We want to show that the adoption of online banking increase the bank performance indicator. With the application of the Instrumental Variable concludes that adoption of Online Banking is negatively related with three bank performance indicators as: Return on Equity (Roe), Return on Asset (Roa) and Margin (Mrg) as a main fault to global financial crisis.
|
|
|
Analysis of the renewable energy support schemes in the EU: Can be an ECOlogical also an ECOnomical?
Andoková, Senta ; Cahlík, Tomáš (advisor) ; Rečka, Lukáš (referee)
The study compares FIT (Feed-in tariff) and RPS (Renewable Portfolio Standard) as the two most commonly used support schemes for renewable energy sources (RES) in the EU. It examines a relationship of an Environmental Kuznets Curve (EKC) and by a practical experiment for public lighting in Prague the study proposes an ecological functioning of electricity grids in the EU with CO2 emissions reduction effect. The main contribution lies in the recency and originality of the econometric analysis and practical experiment. FIT and RPS analysis demonstrates that both schemes affect demand for electricity and increase its price. The econometric model was tested for 28 EU countries for 1990-2013. The results say that the EU is currently located on the downslope of the inverted U-shaped EKC with a turning point, after which the dependence begins to grow. Nevertheless, for the most of observations the turning point is too far to be a source of concern. Practical experiment has shown that installation of energy saving devices for electricity grids in the EU can bring satisfactory results in reducing CO2 emissions independently of state aid. More efficient use of existing energy sources, however, should rather serve as a complement to conventional support, phasing out with the development of RES technologies....
|
|
|
Global Changes in Income Distribution: Causes and Impacts
Jančovič, Pavel ; Cahlík, Tomáš (advisor) ; Břízová, Pavla (referee)
Téma bakalárskej práce: Global Changes in Income Distribution: Causes and Impacts Author: Pavel Jančovič Supervisor: doc. Ing. Tomáš Cahlík CSc. Abstract This thesis examines income inequality in the world. The main subject of investigation is the Gini coefficient, which determines the inequality. To measure the Gini coefficient are used different variables that could be empirically influencing. Econometric analysis consists of 34 countries of the world except Africa. Countries are divided into 5 groups. The measured period is between 1991 and 2011.We use the method of least squares, fixed effects and random effects. After performing regressions, results are commented, the best model is chosen, significant and non-significant variables are stated. We test models for heteroscedasticity, first order autocorrelation of the residuals and normality. Afterwards, we point out possible causes of the results. We refer to the countries in which income inequality is not a problem and reduce or stabilize Gini coefficient on low rate. Also we refer to countries, which has rate of the Gini coefficient, or income inequality increased in measured period.
|
guest ::
