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Growing power of developing countries and its influence on decision-making in the World Bank
Halamka, Radek ; Parízek, Michal (advisor) ; Kučerová, Irah (referee)
World Bank had worked under nearly the same structure and the same distribution of voting weights since its establishment. The settings reflecting the post-war situation has been criticized more and more lately as not corresponding with the present circumstances. Ineffectiveness, irrelevance and illegitimacy were enumerated as main deficiencies. Voice Reform, which was conducted in 2008 and 2010, should have brought a solution to the problems by more involvement of developing countries in decision-making in the World Bank. This thesis studies the approved changes in voting weights using power indices and analysis of financial flows. The results of both the approaches show that the revolutionary ethos remained in the Reform text and no large changes would likely happen. The only exception may be an increase of China, however, the United States would maintain its dominant position. Keywords World Bank, voting power, voting weights, Voice Reform, power index, Banzhaf, Coleman, financial flows Number of Characters: 72 329
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Ethics as a Way to Sustainability in Banking?
Halamka, Radek ; Teplý, Petr (advisor) ; Polyák, Oliver (referee)
v Abstract This thesis proposes a theoretical framework for application of ethics in banking and analyses effects of such application on financial performance of banks. A sentiments-adjusted economic motivation enables employment of ethical concepts, such as universality and humanity, in economics as well as banking. Then, using Bankscope data of more than 80,000 bank-year observations for the years 2003-2013, it is shown that banks applying ethics have higher exposure to real economy and less volatile Return on Equity. A consequent analysis revealed that in comparison with their closest peers those banks have lower profitability caused by higher relative costs that conversely result in lower loan losses. JEL Classification A13, B12, B16, G21, Q56 Keywords banking, ethics, economic motivation, Smith, self-interest, sentiments, Kant, sustainability, Bankscope, banking business models, within- between model, profitability, volatility, ethical, sustainable, values-based, social Length 115 862 characters Author's e-mail radek.halamka@gmail.com Supervisor's e-mail teply@fsv.cuni.cz
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Growing power of developing countries and its influence on decision-making in the World Bank
Halamka, Radek ; Parízek, Michal (advisor) ; Kučerová, Irah (referee)
World Bank had worked under nearly the same structure and the same distribution of voting weights since its establishment. The settings reflecting the post-war situation has been criticized more and more lately as not corresponding with the present circumstances. Ineffectiveness, irrelevance and illegitimacy were enumerated as main deficiencies. Voice Reform, which was conducted in 2008 and 2010, should have brought a solution to the problems by more involvement of developing countries in decision-making in the World Bank. This thesis studies the approved changes in voting weights using power indices and analysis of financial flows. The results of both the approaches show that the revolutionary ethos remained in the Reform text and no large changes would likely happen. The only exception may be an increase of China, however, the United States would maintain its dominant position. Keywords World Bank, voting power, voting weights, Voice Reform, power index, Banzhaf, Coleman, financial flows Number of Characters: 72 329
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Determinants of Subjective Wellbeing: Comparison of Developed and Developing Countries
Halamka, Radek ; Bajgar, Matej (advisor) ; Jašová, Martina (referee)
Recent studies concerning subjective wellbeing have not taken different conditions in developed and developing countries into consideration. Also, different types of factors affecting subjective wellbeing have rarely been researched together. This bachelor thesis seeks to fill the gap. Its main aim is to compare individual, economic, political and institutional determinants of life satisfaction within groups of states divided according to their level of economic development. Data from last three waves of World Values Survey are used here. I analyse dependence of life satisfaction on various determinants by ordered probit model. Results show substantial differences between the groups of states. Main results of the thesis show diminishing effect of both national and individual income with rising national income; a large difference between high and low income countries in perception of quality of government and of a concept of personal unemployment; highly appreciated democracy among high income countries; insignificance of attained education in the lower income groups; a positive effect of quality of education and health care among countries with lower national income; and a high effect of freedom of choice across all groups. The thesis points out high importance of taking levels of development into...
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