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Ziskovost pojišťoven v závislosti na kvalitě institucionálního prostředí
Dvořáček, Jan
Dvořáček, J. Profitability of insurance companies depending on the quality of the institutional environment. Thesis. Brno: Mendel University in Brno, 2023. This diploma thesis is devoted to the influence of the institutional environ-ment on the profitability of insurance companies in the entire European Union and the United States of America in the period 2009–2018. The aim of the first part of the literary research of this diploma thesis is to clarify the issue of finan-cial analysis of insurance companies and highlight important milestones in the history of the insurance industry in the world and on territory of the Czech Re-public. In the second part of the literary research, a characterization of the area of the institutional environment and institutional economics as such is carried out. Among other things, the method of classification, measuring the quality of institu-tions, and the influence of the institutional environment on the profitability of in-surance companies are described. In the last part of the literature search, the var-iables that will be used in the empirical part of this work are selected, including the justification of their choice. Empirical analysis is carried out using microeconomic specifications of insur-ance companies and indices specifying the institutional environment. Data from the period 2009–2018 are used for the analysis, these data have an annual fre-quency and relate to 13,865 insurance companies. Due to the specific behavior of insurance companies, a model using panel data with fixed effects was chosen. The results of the empirical analysis confirm the positive influence of some microeco-nomic specifications of insurance companies and the quality of the institutional environment in the area of the judiciary. Conclusions were also made in the case of the division of insurance companies into larger and smaller insurance institu-tions, and based on these findings, recommendations were made towards the management of insurance institutions. Keywords
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Kvalita výkaznictví IAS/IFRS v rozvinutých a rozvíjejících se ekonomikách
Endelová, Anna
The work deals with the quality of reporting in Austria and Colombia, as representatives of developed and developing economies. The quality of the commentary on the financial statements was ensured using the disclosure index indicator for the standards IAS 17, IFRS 16 and IFRS 7. Based on the index values, it was found that Colombia has a lower level of compliance with international accounting standards in all monitored periods and for all standards. As a developed economy, Austria shows an above-average index value in all monitored areas. The different institutional environment is therefore also reflected in the quality of reporting. Disclosures for individual index items increase slightly over time for both developed and emerging economies
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Vliv makroekonomického prostředí na existenci zombie firem
Sedlák, Pavel
The paper focuses on the identification of the influence of selected determinants on the probability of creation of zombie firms in European countries. The theoret-ical part characterizes zombie firms, describes their identification and their con-sequences on economies. It then describes the structure of firms' liabilities and explains the impact of the institutional environment and firm behaviour on their financing. The empirical part of the paper analyses panel data using fixed effects logistic regression to test the impact of microeconomic, macroeconomic and insti-tutional environments on the emergence of zombie firms. The results are statistically significant and robust.
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Foreign Bank and Financial Development: Factors Affecting Foreign Bank Effects in CEE Countries
Hou, Jiale ; Vokoun, Marek (advisor) ; Chondrogiannis, Ilias (referee) ; Jeřábek, Petr (referee)
This dissertation analyses country-level data for 12 CEE countries from 2000 to 2021 using the Dynamic GMM methodology. The aim of this article is to investigate the effect of foreign bank entry on four dimensions of financial development, which are financial stability, efficiency, depth and access. Furthermore, the article will examine the factors affecting foreign bank effect, including the economic and institutional level of domestic banks and the extent and stage of foreign bank entry. The result shows that foreign bank penetration has a positive influence on financial stability and efficiency, while it has a negative effect on financial depth and access. In general, a high level of economic development and a stringent and well-developed institutional environment is favourable for foreign banks to exhibit a positive influence on financial development. And the bad influence of foreign banks on financial depth and access is diminishing over time. Results regarding the relative importance of foreign banks indicate a mixed conclusion. Overall, this dissertation supplements empirical evidence on the link between foreign banks and financial development in CEE regions and could provide more insights to policymakers.
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Vliv korupce na ekonomický růst v zemích EU
Horvatová, Martina
Horvatová, M., The influence of corruption on economic growth of member states of the European Union. Bachelor thesis. Brno: Mendel University, 2016. This bachelor thesis deals with the influence of corruption over the economic growth of member states of the European Union. The thesis describes the evolution of economic growth and the climate of corruption, the institutional environment, and a fight against the corruption in the European Union. The analysis of the influence of corruption over the economic growth with help of multiple regression in the panel data set is used in order to reach the goal of the thesis. The conclusion of the thesis summarizes all findings, and the possible recommendation of limiting the corruption within the European Union is proposed.
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Vliv (neformálních) institucí na hospodářský růst
Ptáčková, Miroslava
The aim of this diploma thesis is to demonstrate influence of informal institutions on economic growth. Informal institutions are described by amount of tax evasion and amount of corruption because these factors reflect culture, moral values of society and settings of formal institutional environment. Relation is empirically verified by correlation analysis and panel data analysis. This analysis is executed on a sample of 23 countries of OECD and it is linked with a period from 1999 until 2010. Basic model of panel data analysis is built on the neoclassical growth theory. Then institutional variables are included and sorted into this model. Results of empirical analysis are discussed in conclusion.
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Institucionální prostředí a otevřenost ekonomik
Bříza, Kristián
The aim of this diploma thesis is to evaluate the intensity of international trade of the European Union in relation to the institutional (legal) environment of individu-al countries. The Heritage Foundation's Economic Freedom Index describes the quality of the country's institutional environment. The intensity of international trade is expressed as the degree of openness that represents the share of export and import in gross domestic product. Correlation and regression analysis are used to quantify the relationships between variables. The final model is based on panel data from 1996 to 2017 for the 27 countries of the European Union, with only Malta being excluded. The influence of the institutional environment is com-pared with other determinants of the degree of openness. In my thesis I used the following variables: gross domestic product per capita, share of the productive population aged 15-64, investments as a percentage of GDP, exchange rates and human development index (HDI). The result of this work is the finding that the institutional environment positively influences trade exchange, but the relation-ship with the degree of openness has not been proven.
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Institucionální prostředí a otevřenost ekonomik
Tomcová, Petra
The aim of the thesis is to evaluate the intensity of international trade in relation to the quality of the legal environment. The reference period is defined for 2000-2017. The basic indicator of the institutional environment is the concept of Governance matters, which is published by the World Bank, in which the individual indicators of the institutional environment are evaluated, and on the basis of which a comprehensive indicator of institutional quality in individual EU countries is compiled. The empirical analysis uses the results of the institutional environment together with economic indicators and individual models are created through panel data. For institutional variables, government performance and the level of democracy has been confirmed by the relationship with the openness of the economy.
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Vliv institucionálního prostředí na vývoj ekonomik postsocialistických zemí
Mádr, Michal
The dissertation thesis deals with economic consequences of established institutional environment in the post-socialist economies. The institutional environment is associated with political arrangement. The main aim was to investigate whether level of political environment affects economic performance in the post-socialist economies. The level of political arrangement is expressed by two groups of indicators. Firstly, a standard expression using the three indicators is employed (Freedom in World, Polity2, Liberal Democracy Index of the V-Dem Project). Secondly, the level is associated with the individual political regimes (democratic and authoritarian regimes; liberal democracies and non-liberal regimes). Based on received results of linear regression analysis, it can be argued that the higher level of political institution supports economic performance. Simultaneously the individual analyses indicate liberal democracies achieve the highest economic performance within the individual political regimes whereas democracies have similar economic outcomes to authoritarian regimes. The first partial aim was to verify opposite relation, it means whether factors of economic performance representing the Modernization theory have affected formation of political regimes in the post-socialist area. Probit regression analysis was used for attainment of the partial aim. The analysis identified the individual factors of the Modernization theory (level of economic development and schooling) have had impact on establishment of liberal democracies. According to the results of probit analysis the other two theories explaining establishment of political institutions were discussed, namely the Early Developed Institutions and the Natural Resources Curse. In the last part, the second partial aim was achieved by testing reciprocal causal link between level of political system and economic performance with using the test of Granger causality. The results indicate there is not reciprocal causal link in Granger approach between the observed variables. Simultaneously the reciprocal causal relation occurs only within liberal democracies.
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Economic change in Russia: Oil dependency
Krupa, Mikuláš ; Kučerová, Irah (advisor) ; Parízek, Michal (referee)
This thesis concentrates on the case of Russian economy and assessment of its dependence on oil. Russia is often cited as an example of country suffering from resource curse as its natural wealth forms significant share of country's exports and revenues. Thesis will first concentrate on factors determining current state of Russian economy. Presence of the symptoms of Dutch disease in the Russian economy will be studied using the Vector error correction model (VECM) applied on the real effective exchange rate of country (REER). Thesis will also contain an assessment of Russian institutional environment to check for other symptoms of resource curse theory. Analysis of latest federal budget will be used to evaluate the sustainability of Russian federal finances. The thesis is concluded by discussion of results and possible paths of future development of Russian economy.
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