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Breaking-up activity of firm and the transaction cost
Kosturák, Matej ; Koubek, Ivo (advisor) ; Kocourek, David (referee)
In my work I focus on the essential components of the bankruptcy and insolvency problem. The basis for understanding of mentioned problem was study of capital structure and it's connection with world of insolvency. Secondly I focus on different aspects of qualitative analysis of bankruptcy, starting with definition of different terms, many times unprofessionally misused, followed by description of four main processes of bankruptcy. These processes connect fundamental causes of bankruptcy with financial and nonfinancial consequences. For an economic paper, it is quiet extensively concerned with insolvency law, concretely with new Czech norm, which is in force since 2008. From legal definition of default, through initiation of insolvency proceeding to the individual options of solution, the reader can clearly understand the core of this paper. As particular contribution I regard part of the paper, where I examine 160 cases of Czech companies and persons under liquidation process. Among the most significant conclusion I consider finding of quite significant differences in the court proceedings of Czech courts, the length of the insolvency proceedings and each of its phases and the ratio of satisfied claims of secured as well as unsecured creditors.
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Extreme value theory: Empirical analysis of tail behaviour of GARCH models
Šiml, Jan ; Šopov, Boril (advisor) ; Kocourek, David (referee)
This thesis investigates the capability of GARCH-family models to capture the tail properties using Monte Carlo simulation in framework of Conditional Extreme Value Theory. Analysis is carried out for three different GARCH-type models: GARCH, EGARCH, GJR-GARCH using Normal and Student's t-distributed innovations on four well-known stock market indices: S&P 500, FTSE 100, DAX and Nikkei 225. After conducting 3000 simulations of every estimated model, the Hill estimate of shape parameter implied by the GARCH-type models will be calculated and the models' performance will be assessed based on histograms, descriptive statistics and Root Mean Squared Error of simulated Hill estimates. Interesting results and im- plications for further research have been identified. Firstly, we highlight the Normal distribution's inappropriate nature in this case and its inability to capture the tail properties. Furthermore, GJR-GARCHT with t-distributed innovations is identified to be the best model, closely followed by other t-distributed GARCH-type models. Finally, a pattern in all Q-Q plots forecasting the simulation study results is appar- ent, with the exception of the DAX. This anomalous behaviour therefore necessitated further analysis and a significant right tail influence was recorded. Even though Hill estimates...
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Parental regulation of screen use in primary school children
Kocourek, David
The diploma thesis in the theoretical part deals with the concept of parental education regarding the media - media parenting. It provides a comprehensive view into this issue; describes its individual types, deals with various variables (on the part of parent and child) that affect the degree and the preferred strategy of media education. In the theoretical part I also mention the negative and positive influence of modern media on the education of children. The thesis also includes recommendations of world organizations for the prevention of problem and risky media use and the presentation of selected tools that measure the degree of media parenting. The main goal of the practical part of the work was to create a new questionnaire that would comprehensively determine the degree and style of media parenting, applied to parents of children 1-3. elementary school class. In this work I describe the process of its creation and subsequent verification in a pilot study. The diploma thesis also presents the psychometric properties of the questionnaire (e. g. the degree of internal consistency of the scales, or the results of confirmatory factor analysis). Based on the collected data, I further analyzed relationships between the scales of media parenting and other variables of socio-economic and...
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Parental regulation of screen use in primary school children
Kocourek, David ; Lukavská, Kateřina (advisor) ; Kučerová, Olga (referee)
The diploma thesis in the theoretical part deals with the concept of parental education regarding the media - media parenting. It provides a comprehensive view into this issue; describes its individual types, deals with various variables (on the part of parent and child) that affect the degree and the preferred strategy of media education. In the theoretical part I also mention the negative and positive influence of modern media on the education of children. The thesis also includes recommendations of world organizations for the prevention of problem and risky media use and the presentation of selected tools that measure the degree of media parenting. The main goal of the practical part of the work was to create a new questionnaire that would comprehensively determine the degree and style of media parenting, applied to parents of children 1-3. elementary school class. In this work I describe the process of its creation and subsequent verification in a pilot study. The diploma thesis also presents the psychometric properties of the questionnaire (e. g. the degree of internal consistency of the scales, or the results of confirmatory factor analysis). Based on the collected data, I further analyzed relationships between the scales of media parenting and other variables of socio-economic and...
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Negative Time Perspective in Adolescents and its relationship with the attachement
Kocourek, David ; Lukavská, Kateřina (advisor) ; High, Radka (referee)
This thesis deals with the phenomenon of negative time perspective in adolescent age in connection with attachment style. In the theoretical introduction, both concepts are presented: (1) Zimbard's concept of time perspective, (2) Bowlby's and Ainsworth's attachment theory. The empirical part deals with the statistical analysis of the possible connection between the negative time perspective and the anxiety / evasive type of attachment bond. On the data found in the S-ZTPI and ECR questionnaires on two sets of respondents: (1) graduate students and (2) university students, I conducted a descriptive statistical analysis, the t-tests to compare two files and calculated the Pearson correlation coefficient. The results showed a strong relationship between the anxiety attachment style and the overall negative time perspective. Another finding was that women score more prominently on the scale of anxiety than men. Given that collections of graduates and undergraduates were not gender balanced, I could not make any conclusions about the differences in the negative time perspective between groups of undergraduates and graduates. Keywords: Time Perspective, Negative Time Perspective, ZTPI, adolescence, attachment, ECR
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Predicting Czech Economic Activity Using Toll Data
Učňová, Jana ; Kocourek, David (advisor) ; Šestořád, Tomáš (referee)
Many analysts coincide that transportation is closely linked to economic activity. How- ever, data containing information about transportation have not been part of their re- search for a long time. Introduction of electronic toll collection systems in recent years led to a new source of data containing information about truck transport. This thesis aims to examine the ability of seasonally adjusted toll data to predict Czech economic activity. Economic activity is represented by four variables - real GDP, nominal GDP, in- dustrial production index and the volume of foreign trade. Seven models - five dynamic models, ARIMA model, and regression with ARIMA error - are constructed for each dependent variable. These models are then compared using both Akaike and Bayesian information criterion and the most appropriate model for each dependent variable is selected. It was concluded that both real GDP and industrial production index can be predicted using toll data. Both the number of kilometers travelled, and the amount of toll collected seems to be good predictors of economic activity. Particularly, data con- taining information about toll collected might be more beneficial because the amount of toll collected in given quarter can even predict economic activity in the next quarter. 1
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An Empirical Investigation of Wage Discrimination in Professional Football
Blaha, Jakub ; Kocourek, David (advisor) ; Jonášová, Júlia (referee)
Salary discrimination is a phenomenon that arises from ineffective behaviour of economic subjects. Even though its presence is incompatible with the the- ory of profit maximization, salary inequality still persists in the human society. Nevertheless, the investigation of this topic has been largely unheeded in the environment of professional football. In our empirical research, we use the most recent data to investigate the salary gap between white, African American and Hispanic players in the American Major League Soccer. Besides ordinary least squares method that focuses on the impact of ethnicity for the average player, we adopted the method of quantile regression to reveal wage gap between play- ers with below-average pays. Observing each player's performance for 3 seasons, we uncovered salary discrimination against African Americans and Hispanics in the lowest decile of the salary distribution that amounts to 18.9% and 15.3%, respectively. Furthermore, we utilized the difference-in-differences (DID) esti- mator to find no effect of the increasing level of invested money on the wage gap. JEL Classification J30, Z20, Z21, J71 J31 J15 Keywords discrimination, race inequality, football, quan- tile regression, OLS, wages, racism Author's e-mail kubablaha@seznam.cz Supervisor's e-mail kocourek.david@email.cz
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Light pollution in the vicinity of the Ondřejov Observatory
Kocourek, David ; Matějček, Tomáš (advisor) ; Treml, Václav (referee)
Light pollution is currently one of the environmental problems of human society. With the technological development and the increase of the human population on the planet, the landscape is constantly increasing the emission of disturbing light into the surrounding area during the night. The largest producer of light pollution is the urban and suburban regions where light spreads to several decades away, increasing the brightness of the sky, as well as rural or nature-close landscapes. Exposure to disturbing light has a demonstrably unfavorable effect on human, animal and plant health as well as on the balance of whole ecosystems. In this work I focus on finding and assessing the state of sky brightness in the interest zone of the observatory of Astronomical Institute AV at Ondřejov. Based on my own data measured in the field during nine night excursions, I created an interpolated map of ArcMap 10.2 and, according to directional measurements, interpreted the main polluters in this area. The results clearly show a clear trend to reduce the sky's brightness from the northwest to the east. The measurements also show that the local sources of obstrusive light near Ondřejov have a slight influence on the overall zenith brightness of the sky compared to the presence of Prague, several miles away....
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Price of Location: The Private versus Commercial Accommodation in Selected European Cities
Houfková, Barbora ; Kocourek, David (advisor) ; Matoušek, Jindřich (referee)
This thesis investigates the relationship between the location and the price of short-term accommodation in context of European metropolitan cities. We em- ploy the econometric OLS regression with log-level functional form to estimate the influence of main determinants on the price of the accommodation. We compare hotels and apartments in determined cities. We find out that there is a negative relationship between the distance from the city centre and the price of the accommodation. Our model determines the exact rate of drop in prices due to increasing proximity from the city centre. Furthermore, we find distance from the metro station and presence of Wi-Fi in the rooms as insignificant fac- tors for our sample. Finally, we explore that people's perception of the metro station is stable with changing proximity from the city centre. In conclusion, we provide suggestions for further research based on our analyses. Keywords short-term accommodation, tourism economics, hedonic pricing model, OLS regression, location, European cities Author's e-mail houfkova.bara@gmail.com Supervisor's e-mail kocourek.david@email.cz
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