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The impact of the coronavirus crisis on zombie companies in Slovakia
Bosáková, Diana ; Geršl, Adam (advisor) ; Teplý, Petr (referee)
The thesis examines the effect of Covid-19-related financial support on companies in Slovakia in 2020 with a special focus on zombie firms. We examine changes in the number of employees, the average wage and the total costs for companies after receiving financial support. The cross-sectional and fixed effects models are used to determine the effect of the subsidy. Our dataset covers 6,771 large firms from which 7.6% are zombies and 2,547 SMEs in the period 2019-2020. The analysis showed that around 56% of large firms in the sample, both zombie and non-zombie firms, received a subsidy. The results suggest that companies which received the financial support had on average poorer job retention, lower average wage and the effect of the total costs of the company was not statistically significant. Nevertheless, currently available data brings a limitation to the construction of the control group. The thesis contributes to a better understanding of how the pandemic affected zombie companies and the efficiency of Covid-19-related measures on them.
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Economic Analysis of the Business Activity of the Selected Banks in Czechoslovakia during the Great Depression (1929-33)
Bosáková, Diana ; Doležalová, Antonie (advisor) ; Moravcová, Hana (referee)
This thesis deals with the analysis of the economic situation of selected five Czechoslovak banks: Živnostenská banka, Tatra banka, Anglo-československá banka, Banka Československých legií and Agrárna banka during the Great Depression. Through the available data from 1922 - 1938, the development of the behavior and efficiency of banks in the pre-crisis and during the period is proven. The aim of this work is to describe the situation of banks before the onset of the economic crisis and to identify the behavior of bank management during the Great Depression using four financial indicators. Financial indicators examine the profitability, liquidity and solvency of banks. The results of the work showed that banks behaved inefficiently already before the crisis, which is indicated by low values of return on equity and assets. The ratio of loans to deposits due to the crisis has fallen in almost all banks, but points to the inefficient behavior of some of the Czechoslovak banks as part of low lending before the crisis. Although none of the Czechoslovak banks collapsed during the crisis, this thesis points to the inefficient behavior of bank management, which relied heavily on state aid.
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