|
|
Daňová zátěž a její vliv na ekonomiky EU
Němečková, Kateřina
This diploma thesis deals with tax differences, which occur among states of the European Union. It focuses on the influence of taxes to at-tract foreign direct investment and further impact on the increase of eco-nomic development. Using correlation analysis it quantifies these relationships and proves that generally there are in EU weak links be-tween variables. To sum up, low corporate taxation is a factor which attracts foreign direct investment and foreign direct investment can be under certain circumstances the factor increasing the economic level of the country. Weaker and less obvious results are found for region of Central and East Europe and so called tax havens probably due the po-sition of alternative factors including qualitative characteristics. In addition, these results are discussed in context of recent European effort to coordinate and harmonize corporate taxation.
|
|
|
Offshoring to CEE
Sobotková, Magda ; Pernica, Petr (advisor) ; Jirsák, Petr (referee)
The Master Thesis deals with offshoring and its logistic requirements. The first part of thesis characterizes terms as outsourcing, offshoring and offshore outsourcing. The main reasons for foreign production are seeking of resources (typically low cost labour) and expansion into new markets. Benefits and risks of offshoring are analyzed in the thesis, as well as criteria for selection of suitable host destination. Often overlooked impacts of globalization on integrated supply chain are also considered in this thesis. Central and Eastern Europe is one of important offshoring regions. CEE offers relatively cheap and qualified labour. However, its main benefit is its small geographical distance from Western Europe. The costs of servicing markets at Western Europe from CEE are much lower compared to servicing these markets from Asia.
|
|
|
Opportunities For Turkish Companies in CEE
Okumuş, Andaç ; Štěrbová, Ludmila (advisor) ; Zamykalová, Miroslava (referee)
This thesis focuses on the opportunities for Turkish companies in the Central and Eastern European countries namely Hungary, Czech Republic, Poland, Slovak Republic and Austria. The thesis aims to provide a sound grasp of the economic situation of each country with an insight to the macroeconomic indicators, foreign direct investment and foreign trade figures for the country in question. Each country section included a separate focus on the strengths, weaknesses, threats and opportunities that a Turkish investor who may wish to invest in the country in question may benefit from or confront with. In order to be able to do so, a detailed literature review has been conducted using mainly the update primary data available. The findings derived are summarized in the conclusion section of the thesis.
|
|
|
Integrace kapitálových trhů ve střední a východní Evropě
Krutišová, Alena ; Klosová, Anna (advisor) ; Jegers, Marc (referee)
There are several advantages of capital markets integration, such as increasing overall market liquidity, improving the scope for diversification and risk sharing. Therefore, the European institutions try to boost capital markets integration among the member states. The aim of this empirical paper is to analyse the level of integration of the main equity markets in the Central and Eastern Europe (CEE): the Czech Republic, Poland, Hungary, Slovakia, Romania and Bulgaria from 2001 until 2010 using an integration score analysis. This methodology was proposed by Akdogan (1996; 1997) and later extended by Barari (2004) and by Birg & Lucey (2006). The paper focuses on the developments of regional and global integration of these countries. Findings from this research can be of interest to investors as well as policy makers because the degree of capital markets integration has important implications for cross-border capital flows, financial management, and for the conduct of monetary policy. The results from this paper suggest that the opportunities for portfolio diversification are diminishing in the CEE countries. The diversification benefits were mainly reduced by the accession to the EU, but they did not completely disappear. The findings showed that the global financial crisis in 2008 brought about a rapid change in integration. Global integration increased during the crises, whereas the regional started to decline after years of rising.
|
|
|
Porovnání výnosnosti generických větrných projektů ve střední a východní Evropě
Dvořák, Petr ; Neumaierová, Inka (advisor) ; Vrbský, Petr (referee)
The aim of this diploma thesis is to suggest the best locality in the CEE region for a prospective investment in wind farms for an undisclosed Czech company. This goal is to be achieved by comparison of generic projects that have the same technical specification, capital expenditures and operating expenses. These projects are investigated from different perspectives including wind conditions, financing terms, technology constraints and mainly the legal aspects of each respective country -- namely the regulatory environment for wind power-offtake either feed-in tariff or green certificate support schemes. The NPV of FCF and IRR (MIRR) are to be used for evaluation of these projects. Sensitivity analysis for key drivers will complement prior assumptions.
|
|
|
Eastern Enlargement of the EU and its Impacts on the European Union and Selected Member States
Hokešová, Kateřina ; Hnát, Pavel (advisor) ; Jelínek, Tomáš (referee)
This bachelor thesis deals with the process of the so called eastern enlargement of the European Union which took place in two waves in years 2004 and 2007. It evaluates the starting-points which led to the enlargement from the both-sides point of view. Since the fall of communism, the central and eastern European countries wanted to return back to Europe and become a part of a democratic complex. On the other hand, the EU saw the enlargement mainly as an opportunity to unite the whole continent and gain back its decreasing economic potential. In the second part, the thesis focuses on the results of the enlargement for both sides. The enlargement has affected not only the economic but also the political situation in all the member countries and has also dramatically changed the decision-making process within the EU.
|
|
|
Bankovní krize ve střední a východní Evropě: Nová kreditní perspektiva
Pospíšil, Martin ; Hnilica, Jiří (advisor) ; Špička, Jindřich (referee)
In the recession times of the last two years, it is of a good interest to test the behaviour of commercial banks. In this thesis, I link the Stiglitz-Greenwald theory of credit rationing with microeconomic Central and Eastern Europe banking group data over years 2007 and 2009. For the deeper understanding of the credit side of the banking system it is however necessary to analyse banks from a more detailed perspective. Therefore, a significant part of the thesis is focused on the financial analysis of commercial banks' balance sheets. This analysis then allows finding the reasons why and when did the banks change their behaviour, their approach to clients, businesses when supplying credits. I also analyse various steps that the banks took to deal with the financial crisis. While the crisis started as primarily financial, it was due to the information asymmetry/uncertainty (when banks could not screen and understand their clients properly) that this crisis turned into an economic one. The thesis is divided into two subparts. The first one describes the Greenwald-Stliglitz monetary paradigm and analyses it with respect to Czech microeconomic data. The second part extends this analysis and focuses on the balance sheet development and credit behaviour of five biggest banking groups in the CEE. The result of this thesis can help to understand banks' approach to their clients, the monetary transmission mechanism, and the behaviour of the banking system in general.
|
|
|
Bulharsko a Rumunsko: ekonomický vývoj a integrace do EU
Kačmařík, Lukáš ; Abrhám, Josef (advisor) ; Kučerová, Irah (referee)
Bulharsko a Rumunsko jsou prozatím poslední země, které přistoupily k Evropské unii, a to 1. ledna 2007. Stejně jako u většiny zemí, které přistoupily v roce 2004, prošly tyto dvě navzájem sousedící země ekonomickou transformací, která začala po pádu komunistických režimů počátkem 90. let a v případě Bulharska a Rumunska trvá prakticky dodnes. Práce je rozdělena do tří hlavních částí. První část je věnována zejména domácí ekonomice, zahraničním ekonomickým vztahům a domácí politické situaci včetně aktuálních problémů. Druhá část se věnuje procesu vstupu Bulharska a Rumunska do EU, resp. jeho přípravě a předvstupnímu vyjednávání. V této kapitole postupujeme od obecných ustanovení týkajících se rozšiřování, přes specifika rozšíření v roce 2007, až po detailní hodnocení průběhu příprav na vstup těchto dvou zemí ze strany Evropské komise v pravidelných hodnotících zprávách.Třetí část je úvahou nad budoucností Bulharska a Rumunska v Evropské unii. Vzhledem k tomu, že vstupem celkem dvanácti nových členských států v letech 2004 a 2007 se poměrně výrazně směnily strukturální podmínky a komparativní výhody mezi jednotlivými zeměmi, podíváme se v této kapitole na některé trendy, které je možné v následujících letech očekávat.
|
|
| |
|
| |
guest ::
