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Wage Discrimination in US Sports: Comparative Analysis
Ivantsev, Dmitrii ; Janhuba, Radek (advisor) ; Matoušek, Jindřich (referee)
The issue of salary discrimination in the US sport has been a controversional topic, largely dscussed in the context of racial discrimination in American society. Numerous papers written in this field in the previous years investigated each of the US Major Leagues separately. This thesis provides a comparative analysis of wage discrimination in the Nationall Basketball Association, Major League Baseball and National Football League. The data on players' contracts for all leagues were collected based on 2015-2018 unrestricted free agents' signings with a different sample of players for each specific year. We created five unique datasets for the comparative analysis, including one NBA, two NFL and two MLB related samples, where the MLB datasets represent batting and pitching players, while the NFL samples refer to the players on the offensive and defensive positions. For the estimation of players' productivity, we considered the average performance statistics in three years prior to the first contract year. By adding dummy variables reflecting players' race into the regressions and applying the Ordinary Least Squares method we could compare the size of the wage premium paid to the representatives of the specific race. The results of our regressions do not provide sufficient evidence of salary...
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Essays on Sports Economics
Janhuba, Radek ; Hanousek, Jan (advisor) ; Humphreys, Brad (referee) ; Rees, Daniel (referee)
In the first chapter, I examine the effects of emotional shocks on subjective wellbeing and the role social context plays in how shocks are experienced. Using data from the Behavioral Risk Factor Surveillance System (BRFSS), the study uses an ordered logit model to estimate the effects of the local college football team's wins and losses on the life satisfaction of local citizens. The analysis suggests that unexpected wins have positive effects on life satisfaction. The results are driven entirely by games played at the home stadium, indicating that the impacts of emotional shocks are larger if the experience is shared with other fans. Moreover, the effects increase with the size of the stadium relative to the local population, suggesting that social context is likely to be the underlying factor. Surprisingly, no effects are found for cases of unexpected losses. The second chapter examines the relationship between the number of on-field officials and committed fouls, a phenomenon connected to the economics of crime. Economists have found mixed evidence on what happens when the number of police increases. On one hand, more law enforcers means a higher probability of detecting a crime, which is known as the monitoring effect. On the other hand, criminals incorporate the increase into their decision-making...
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US Collegiate Football Analysis: Team's Success as an Indicator of Academic Performance
Linhart, Jakub ; Janhuba, Radek (advisor) ; Godar, Sarah (referee)
American football as the most popular sport in the US higher education attracts millions of students to compete in various leagues under the supervision of the National Collegi- ate Athletic Association. Matches between the top university teams that are part of the Division I Football Bowl Subdivision belong to the most attractive and historical rival- ries bring high fan support and media attention. However, this also comes with greater stress for competing student-athletes and thus the impact of losing on their psychological state outside the pitch should not be understated. Following previous studies about the impact of collegiate football, this analysis used data about 114 Division I-FBS teams across 13 years to examine the effect of football performance on the academic results of student-athletes. The results showed positive and significant effects of relatively success- ful season on the academic performance of players, whose mentality towards studying and socialization outside football improve in case of a successful season. This supports a phenomenon called "football chicken soup", which states that success in extracurricular activities improve the students' ability to adjust for college life and thus improve their academic results. Additionally, I found that a team's financial situation has no...
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Cross-Country Analysis of Life Satisfaction
Stehlíková, Zuzana ; Janhuba, Radek (advisor) ; Paulus, Michal (referee)
This thesis examines the relations between subjective well-being and economic, politic and social characteristics of individual countries. We study the link between three components of subjective well-being - life satisfaction, positive affect and negative affect and other country characteristics. First, we use the dataset containing countries from almost all countries of the whole world and then with a more detailed European dataset. For the analysis of life satisfaction, panel data models are used. The results indicate that we are able to explain better variation in life satisfaction by our set of explanatory variables in comparison with positive affect and negative affect. In the former dataset, we discovered that the most important determinants of life satisfaction are GDP per capita, health, freedom to make life choices, political conditions and social support. In the latter, European dataset revealed a strong negative correlation between tertiary education attainment and happiness. The results also indicate that female representation in national parliament is an important predictor of life satisfaction in European countries. This supports the idea that equality between men and women plays an important role in developed societies. Keywords Subjective well-being, Happiness, Life satisfaction,...
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Criminals on the field: a study of college football
Janhuba, Radek ; Čechová, K.
Economists have found mixed evidence on what happens when the number of police increases. On the one hand, more law enforcers means a higher probability of detecting a crime, which is known as the monitoring effect. On the other hand, criminals incorporate the increase into their decision-making process and thus may commit fewer crimes, constituting the deterrence effect. This study analyzes the effects of an increase in the number of on-field college football officials, taking players\nas potential criminals and officials as law enforcers. Analyzing a novel play by play dataset from two seasons of college football, we report evidence of a monitoring effect being present in the overall dataset. This effect is mainly driven by offensive penalties which are called in the area of jurisdiction of the added official. Decomposition of the effect provides evidence of the presence of the deterrence effect in cases of penalties with severe punishment or those committed by teams with moderate to high ability, suggesting that teams are able to strategically adapt their behavior following the addition of an official.
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Volatility Spillovers in New Member States: A Bayesian Model
Janhuba, Radek ; Horváth, Roman (advisor) ; Červinka, Michal (referee)
Volatility spillovers in stock markets have become an important phenomenon, especially in times of crises. Mechanisms of shock transmission from one market to another are important for the international portfolio diversification. Our thesis examines impulse responses and variance decomposition of main stock indices in emerging Central European markets (Czech Republic, Poland, Slovakia and Hungary) in the period of January 2007 to August 2009. Two models are used: A vector autoregression (VAR) model with constant variance of residuals and a time varying parameter vector autoregression (TVP-VAR) model with a stochastic volatility. Opposingly of other comparable studies, Bayesian methods are used in both models. Our results confirm the presence of volatility spillovers among all markets. Interestingly, we find significant opposite transmission of shocks from Czech Republic to Poland and Hungary, suggesting that investors see the Central European exchanges as separate markets. Powered by TCPDF (www.tcpdf.org)
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Volatility Spillovers in New Member States: A Bayesian Model
Janhuba, Radek ; Horváth, Roman (advisor) ; Červinka, Michal (referee)
Volatility spillovers in stock markets have become an important phenomenon, especially in times of crises. Mechanisms of shock transmission from one mar- ket to another are important for the international portfolio diversification. Our thesis examines impulse responses and variance decomposition of main stock in- dices in emerging Central European markets (Czech Republic, Poland, Slovakia and Hungary) in the period of January 2007 to August 2009. Two models are used: A vector autoregression (VAR) model with constant variance of resid- uals and a time varying parameter vector autoregression (TVP-VAR) model with a stochastic volatility. Opposingly of other comparable studies, Bayesian methods are used in both models. Our results confirm the presence of volatility spillovers among all markets. Interestingly, we find significant opposite trans- mission of shocks from Czech Republic to Poland and Hungary, suggesting that investors see the Central European exchanges as separate markets. Bibliographic Record Janhuba, R. (2012): Volatility Spillovers in New Member States: A Bayesian Model. Master thesis, Charles University in Prague, Faculty of Social Sciences, Institute of Economic Studies. Supervisor: doc. Roman Horváth Ph.D. JEL Classification C11, C32, C58, G01, G11, G14 Keywords Volatility spillovers,...
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The effect of exchange rate changes on stock market volatility in new member states
Janhuba, Radek ; Horváth, Roman (advisor) ; Seidler, Jakub (referee)
This thesis examines whether currency exchange rate changes play any role in determination of stock market volatility in the EU's New Member states. Using the daily data of six Central and Eastern European countries, we run a GARCH model including the exchange rate variable into the volatility equation. Using a TARCH model we also examine whether the magnitude of stock market volatility depends on the direction of last innovation. The results suggest that an exchange rate depreciation will boost stock market volatility in Czech Republic, Hungary and Poland, whereas the same applies for currency appreciation in Romania. The various results for various countries are in line with the previous research.
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