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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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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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State balanced budget rule under conditions of the Czech republic
Doležal, Ondřej ; Ryvolová, Ivana (advisor) ; Štěpánek, Pavel (referee)
The purpose of this bachelor thesis is to analyze if the Czech Republic offers sufficient institutional environment to fight state budget deficit, or if it should adopt a "balanced budget rule" which would create such an environment. The thesis presents both a theoretical concept of a balanced budget rule and legislative proposals for its adoption in the Czech Republic. The thesis also deals with existing balanced budget rule in different states of the United States of America and in Switzerland. The institutional environment is then compared to two groups of EU member states running different budget policies between 1998 and 2007. The first group consists of countries keeping a balanced state budget such as Denmark, Ireland and Finland while the second group contains countries running irresponsible budgetary policies such as the Czech Republic, Italy and Hungary.
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