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"The Bestseller Effect": Stávají se z úspěšných knih kasovní trháky kin?
Smyčková, Renée ; Stroukal, Dominik (advisor) ; Špecián, Petr (referee)
The thesis investigates a connection between the publishing industry and the film industry. It analyses whether films based on best-selling books have higher revenues and return on investment compared to films based on unsuccessful books or original scripts. Data for years 2009 -- 2015, focusing on the U.S. entertainment industry, show that film adaptations of best-selling books reach higher revenues during their opening weekend of the theatrical release. The Bestseller Effect weakens once the information about film's quality becomes available to the audience. The success of a book plays negligible role in film's returns on investment. The results of analysis also show great positive significant impact of the production budget, the star cast, films quality and sequels on the films'financial performance.
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Být na správném místě ve správný (i nesprávný) čas: Analýza platů CEO za štěstí před a po finanční krizi
Hadincová, Ludmila ; Navrátil, David (advisor) ; Špecián, Petr (referee)
Diploma thesis tests the existence of luck premium on U.S. CEOs' compensations. Luck premium means that in case of high principal-agent costs, CEOs are rewarded for random luck and not only for their productivity. Thesis uses financial crisis in 2008 as a breaking event after which attention and control of CEOs' remuneration by owners, public, and media intensified. Using regression with fixed effects on panel data between years 2004 and 2012 thesis proved impact of luck premium before 2008 while the influence was not significant after 2008. Results were not robust for other model specifications, which might be caused by selectivity of the dataset. Thesis then presents overview of theoretical approaches to CEOs' compensation analysis and recommendations for optimal compensation set-up.
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Phenomenology and Economics
Špecián, Petr ; Pavlík, Ján (advisor) ; Loužek, Marek (referee) ; Muller, Karel (referee)
The thesis Phenomenology and Economics is an account of methodological possibilities brought by the phenomenological method into the realm of economic thought. From the starting point of Misesian praxeology the thesis advances to the key contributions of Alfred Schütz whose concept of telescopic ideal type enables us to cross the gap between theory and history. Telescopic ideal type allows us to grasp the specific nature of economics that is, on the one hand, proud of its rigor and precision connected with the formal modelling and on the other hand deals with an interpretation of individual agents in their life-world. Methodological insights developed through this analysis are then applied to the problem of coordination and spontaneous order and to the question of the relationship between behavioral economics and rational choice theory.
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Economic analysis of profitability of restructuring of Czech sugar factories
Vajdík, Jiří ; Chytil, Zdeněk (advisor) ; Špecián, Petr (referee)
The first part of the study describes European sugar policy as a basis of analysis. Than it analyses costs and earnings of Czech sugar factories in the years 2006 -- 2009. For the following years 2 alternative predictions of profit development have been made; one supposes sugar price stagnation and the other its decrease. In the seventh year after the supposed start of restructuring the company is acknowledged on the basis of the "Free Cash -- Flow to the Equity" model. The study, taking the company Eastern Sugar Czech Rep. as an example, also calculates the profit that restructuring of the sugar factory would bring. The second part of the study analyses the convenience of restructuring Czech sugar factories in the years 2006 and 2007. The author assumes on the basis of the fact, that only one company closed its sugar factories, inexpedience of the restructuring process. The empirical part of this thesis tries to verify this hypothesis. The analysis is done by calculating net value of future financial flows. The profit loss due to restructuring that the study discounts by a risk free interest rate represents the costs. The sugar house profits in the monitored years and the company value in the seventh year after restructuring start represent the earnings. The earnings are discounted by an alternative cost of own capital, published by the Ministry of Industry and Trade every year. In the end of empirical part the thesis confirmed its assumption about inexpedience of restructuring process in all assumed scenarios excepting beginning of restructuring process in 2006 even as sugar price falling to average level of the first two months of the year 2010.
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Generic vs. original drugs or how compete each other on the Czech market
Jandejsková, Klára ; Janíčko, Martin (advisor) ; Špecián, Petr (referee)
The main aim of this bachelor thesis is to clarify mutual competition between original and generics drugs on drugs markets. It is necessary to identify all aspects which we can meet on drug market and which play a significant role in the competition. The description of these aspects is described in the theoretical part of this assignment which is (together with graphic model of original and generics competition) the main theoretical basis for the practical part. In the practical part the analysis of competition process is carried out by descriptive analysis. The analysis is especially aimed at changes in quantity and prices of the original drug and gives answers to why these changes happened. The conclusion is devoted to spending on research and development of new drug. By means of practical example and also of all information which are mentioned in this work, this part answers the question which measurements of drug and state policy are suitable or unsuitable for research and development of new drugs.
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How many people is killed by the Czech Government policy annually?
Kratochvílová, Lucie ; Bartoň, Petr (advisor) ; Špecián, Petr (referee)
This thesis analyzes the impact of changes in gas prices on road fatal accidents in the Czech Republic between 1999 - 2009. The use of heavier cars is connected with higher gas consumption that we can expect from the increasing fuel prices that will lead to a substitution of heavier cars by smaller cars. This substitution offers lower level of safety to its user. The first part of the analyze is focused on the link between changes in the size structure of cars in the Czech Republic and the fatalities. Regression analyze shows a significant link between this variables and it leads to a fact that number of people killed in an accident decreases by increase of heavier and decrease of lighter cars. The second part of the analyze is focused on the price of gas - are sales influenced by the price or not? The analyze does not prove this influence is statistically significant. The period observed is not a proof that the government is influencing the fatalities by fuel taxes.
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Group buying servers
Kopřiva, Michal ; Svoboda, Miroslav (advisor) ; Špecián, Petr (referee)
This paper analyses distribution of discounts by servers of group buying. Group buying is defined as form of distribution of coupons, which is one of forms of discounts. Analysis of data about past sales and data from questionnaire show that limits, which are characterizing element of group buying, aren't often set by sellers. Next this analysis show, that social aspect is major difference from other forms of couponing. Analysis of range shows, that the range of group buying coupons is different from range of classical coupons. Group buying servers sell mostly brand new products and services with social aspect.
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Below Zero: Economics of Negative Interest Rate
Stroukal, Dominik ; Šťastný, Daniel (advisor) ; Špecián, Petr (referee)
This paper discusses the issue of negative nominal interest rate. Consistent following of Taylor's rule may lead to recommendations to adjust the interest rate below its zero bound. Although the negative nominal interest rate is considered to be impossible, proposals that can make it possible are presented. Their common impact is raising the cost of holding money. It is proven that without a statutory anchor and enforcement this policy of raising the cost of holding money cannot work. Since the originary rate of interest cannot be negative, the whole concept of negative nominal interest rates is only an unconventional form of taxation.
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Kurzová politika ČNB v období ekonomické tranformace
Špecián, Petr ; Taušer, Josef (advisor) ; Cibulková, Iveta (referee)
Práce je centrována na kurzový vývoj české koruny v letech 1993 až 1997, zejména pak na související politiku ČNB. Ústřední téma je uvedeno stručným teoretickým rozborem problematiky měnového kurzu a zasazeno do širších historických souvislostí. Samostatná kapitola je věnována i počátkům transformace před rozdělením Československa. Závěr je věnován shrnutí tématu a zhodnocení zkoumaného období i úspěšnosti zásahů centrální banky.
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