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Theory of the Firm from the view of New Institutional Economics and some Aspects of Institutional Framework Quality in the Czech Republic
Vitík, Robert ; Sirůček, Pavel (advisor) ; Soukup, Jindřich (referee) ; Žák, Milan (referee) ; Mlčoch, Lubomír (referee)
This doctoral thesis presents the basic and the main developments of the theories of the firm rooted in Transaction Cost Theory (TCT). Since the article of Coase on the nature of the firm, this question has been elaborated by number of economists. In my point of view, I would like to introduce the last theory developed by the representative of the school called New Institutional Economics. The theory concentrates on the role of institutions. We distinguish institutions formal and informal. The formal are laws, constitution, regulations, contracts and other written rules. The informal don't require a written form and they represent informal restrictions such as rules of behaviour, conventions, traditions and habits. The main purpose of the institutions in their various forms is mainly to protect property rights, enforce voluntary contracts and establish the physical and regulatory infrastructure to facilitate economic activity. Generally, we can call them the rules of the game. They inform us about possible economic behaviour and give us basic restrictions in this sense. First -- the theoretical part of this thesis, we can find a simple model with human asset specificity based on TCT. The main proposition is that transactions with a high level of asset specificity are more probably internalised because the firm handles better such transactions compared to the market, even if asset specificity increases the cost of coordination in the firm. If the hierarchy, for example through the formation of routines, may enhance the efficiency compared to the market, we can modify the previous model. The model developed according to a Knowledge-based view assumes that asset specificity reduces transaction costs inside the firm and increases transaction costs on the market. In the conclusion of the theoretical part is discussed the reply on first formulate hypothesis if the TCT is still compatible with a newer Capability and Knowledge based view. In my opinion based on the presented arguments and views, both theories are compatible, they can answer more questions and explain more issues. The last step links the aforementioned theories into one Theory of firm boundaries. In the practical part of the thesis, I bring basic arguments about the institutional framework quality in the Czech Republic. These arguments rely on the latest studies of the international institutions such The Transparency International, The Heritage Foundation, The Kurtzman Group and mainly The World Bank. Studies reveal certain weak arrangements concerning for example the number of procedures when starting a business, complicated construction permits, rigidity of working hours, time-consuming and administrative demanding tax system, duration of judicial process which results in ineffective contract enforcement and mainly poor protection of property rights. Taking these disclosures into account we have to say that emergent transaction costs are enormous. These transaction costs influence negatively the competitiveness of the firms and the whole Czech economy. Therefore a negative response to the second hypothesis relating to the quality of the institutional framework in the Czech Republic.
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Czechoslovak political and economic transformation in view of institutional economics theories
Kuchař, Pavel ; Lehmannová, Zuzana (advisor) ; Lipka, David (referee)
The diploma thesis looks into the matter of political and economic transformation of Czechoslovakia and Czech Republic through lenses of institutional economics theories. It claims that the transformation measures did not consider the social embeddedness within cultural and historical limitations. The first part of the paper defines the methodology of institutional economics based mainly on Ronald Coase's and Oliver Williamson's work. The following part aims to draw an image of historical and political context of Czechoslovak transformation. The compatibility of conditions, goals and means of the transformation is being considered in the third part. Finally, the work structures and evaluates World Bank's data set that forms an important part of endogenous influences of institutionalisation. The conclusion judges the outcome of political and economical transformation rather critically.
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Analysis of macroeconomic and institutional evolution in New Zealand and the Kingdom of Sweden
Gallo, Peter ; Mládek, Josef (advisor) ; Štěpánek, Pavel (referee)
The main objective of this thesis is macroeconomic and institutional comparison of New Zealand and the Kingdom of Sweden. These countries were forced to undergo radical institutional changes in the 80's and at the beginning of the 90's because of critical economic situation and because of unsustainable condition of their public finances. In the first chapter of my thesis I deal with the public finance theory, with acting of bureaucracy in public sector and with the institutional economy. In the second chapter I compare conditions before the reform, the reform steps in these countries, the evolution after the reform was done and their economic situation today.
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Czech Privatization, An Institutional Approach
Rázek, Michal ; Montag, Josef (advisor) ; Chalupníček, Pavel (referee)
Bakalářská práce se zabývá českou privatizací z pohledu institucionální ekonomie. Soustředí se na popis kuponové privatizace. Na konkrétních příkladech Tatry, a.s., ČSAD Kutné Hory, a.s. a Sázavanu, a.s. popisuje hledání soukromého vlastníka, ukazuje dobývání renty, zvýšené náklady na výkon vlastnických práv a problém corporate governance.
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Institutional Economics in Environmental Protection: Osypane Brehy Case
Buřinská, Markéta ; Čamrová, Lenka (advisor) ; Moravec, Jiří (referee)
Práce se zabývá problematikou znehodnocování přírodní památky Osypané břehy. Vysvětluje podstatu institucionální ekonomie a zkoumá instituce a jejich možný vliv na životní prostředí. Popisuje evropskou instituci Natura 2000, její vytváření, přínosy a dopady. Uvádí základní charakteristiku oblasti Osypaných břehů a nebezpečí, která jí hrozí. Pomocí ekonomické analýzy institucí se pak snaží dopátrat toho, jak instituce ovlivňují chování organizací a jednotlivců vůči životnímu prostředí a přírodní památce Osypané břehy.
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