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Risk Management of Selected Business Entity
Zemanová, Kateřina ; Pavlíček, Jaroslav (referee) ; Škapa, Stanislav (advisor)
Theses "Risk Management of the selected business entity" is focused on risk management, analysis and optimization in the consumer cooperative COOP. Consumer cooperative covers 121 sales units in the district Zdar nad Sazavou and devoted mainly selling food and non-food goods, which are facing high competition from hypermarkets and supermarkets. The first part contains the definition of consumer cooperatives deals with general characteristics of the risks division and possible measures for its reduction, which is nowadays a very important part of risk analysis. The second part deals with the analysis in five categories of risk and risk assessment. These suggestions are based on analysis of solutions found to eliminate the risks, which will help to create a stronger team position in the market.
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Determinants of the average daily rate of Peer-to-peer accommodation in the Czech Republic
Řežábek, Pavel ; Pavlíček, Jaroslav (advisor) ; Schwarz, Jiří (referee)
This thesis investigates which characteristics of peer-to-peer accommodation affect its average daily rate. The study utilizes a unique dataset created with data on all accommodation offers in the Czech Republic, made directly from data downloaded from airbnb.com, which is the largest platform presenting short-term rentals outside hotels. The information about amenities and reviews of individual properties offering accommodation are firstly categorized. The effects of each such category together with information about size and location on the average daily rate are then investigated using the ordinary least squares method. The following parameters are found to have have the most significant effect on the average daily rate: location in Prague, the maximum number of occupants, hotel-type equipment, and luxury amenities.
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The Impact of a Firm's Profitability and Other Factors on Capital Structure: Evidence from the Czech Republic
Holušová, Lucie ; Pavlíček, Jaroslav (advisor) ; Novák, Jiří (referee)
1 Abstract The aim of this thesis is to provide empirical evidence on determinants of the capital structure of Czech SMEs. Dataset used is different from previous ones in the studied period, characteristics and number of observations. The financials of 2693 companies over 14 years are addressed using panel data estimation methods. This thesis tests the hypotheses addressing the effect of the determinants based on the main theories in the field (pecking order and trade-off theory) and whether the crisis had an impact on the capital structure. Three measures of debt ratios (total, short-term and long-term debt ratio) are included to capture how either of the ten independent variables affects the maturity structure. Regression results of several estimation approaches (FE, RE, Pooled OLS, Difference GMM, System GMM) are provided and after several validity tests inferences based on System GMM estimation are presented. Results report significant differences in estimates of long-term and short-term or total debt ratio models. The most surprising result is that size and crisis are not statistically significant in any model, contrary age, profitability, liquidity, tangibility and growth are significant at least concerning total and short-term debt ratios. Finally, the pecking order theory prevails in the dataset....
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Exploring the Relationship between Customer Experience and Bank Profitability
Veselá, Tereza ; Teplý, Petr (advisor) ; Pavlíček, Jaroslav (referee)
The thesis empirically examines the relationship between customer experience and bank profitability in Central Europe. It combines customer experience and financial data on 50 banks in the Czech Republic, Austria, Germany, Slovakia, and Poland for the 2017-2020 time period. Panel data estimation methods (first differencing, fixed effects, and random effects) combined with pooled OLS estimation and other robustness checks were employed. Followingly, it was possible to identify a positive significant effect of customer experience in the form of the Six Pillars metrics on net interest margin. This finding is in contradiction with the ones of rather scarce literature on this topic, and thus offers a new understanding of the relationship. No evidence was found for associations between customer experience and return on equity or return on assets, a result supported by some researchers but negated by others. The conclusions of this study may be of interest to bank managers by guiding customer experience related investment optimalisation or prospective investors who consider using customer experience to evaluate a firm's profitability potential. JEL Classification C12, C33, G21, L25, M31 Keywords banks, profitability, customer experience, financial analysis, net interest margin, return on equity, return on...
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Board Diversity and Firm Performance: Evidence from the Czech Republic
Parlásková, Eva ; Pavlíček, Jaroslav (advisor) ; Palanská, Tereza (referee)
This master thesis is focused on an analysis of the impact of corporate board diversity on firm performance using evidence from the Czech Republic. Return on assets, EBIT margin, EBITDA margin, and net profit margin were used as the performance measures. Three types of board diversity were examined in this thesis - gender, nationality, and age. Gender and nationality diversity were both represented by the percentage of women or foreigners on board, and by a dummy variable indicating the presence of women or a foreigner on board. The age diversity was measured by the average age of all board members. Some additional control variables were included in the models such as firm age, firm size, liquidity, etc. Our research is using data from 114 Czech enterprises between the years 2010 and 2018. The fixed-effects or the random-effects method was used to determine the relationship between board diversity and firm performance. The results show that there is a significant and positive relationship between the presence of women on board and firm performance. The average age of board members has a significant negative effect on all dependent variables. Nationality diversity has a mixed effect on firm performance. JEL Classification D22, G32, G34, J15, J16 Keywords Board diversity, firm performance,...
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Analysis of Short-term Rental Market in Prague
Štollová, Karolína ; Pertold-Gebicka, Barbara (advisor) ; Pavlíček, Jaroslav (referee)
This paper investigates determinants of daily rate of Airbnb listings in Prague, Czech Republic. Sample of 13 500 properties was examined to identify a relationship between property attributes and rental price using the ordinary least squares estimation method. The study provides an empirical evidence that twenty-five independent variables describing space, reputational, location, commerciality attributes or management policies significantly impact the average daily rate. According to the analysis the most relevant rental price determinants are property location, its size in terms of number of bedrooms, bathrooms and capacity. Author demonstrated in two robustness checks that the results are stable. The study is conducive to better understanding of the Prague Airbnb market. Insights from the analysis could help hosts in developing a suitable pricing strategy as well as Airbnb or similar platforms in designing a pricing tool to increase hosts efficiency.
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Crowdfunding: What makes a project desirable?
Navarová, Tereza ; Chytilová, Julie (advisor) ; Pavlíček, Jaroslav (referee)
Crowdfunding has become a popular option for financing new projects and businesses. The study explores the factors that influence the project's success from the creator's point of view. The analysis of a cross-sectional dataset from one of the most famous czech reward-based crowdfunding platforms HitHit is used to confirm or reject the hypotheses of existing studies from the global scale for the case of the Czech Republic. First, a logistic regression is applied to estimate the effects of the individual factors on the probability of a project being successfully funded. Secondly, the OLS regression is introduced to estimate the effects on the overall percentage of funding of a project in place of the binary variable in the logit model. We find a significant positive relationship between the success and the following factors: a video presence, a creator's location within a large city, a shorter campaign duration, a number of rewards and updates during the campaign, and projects falling into the category education. Several suggestions on future research are presented. 1
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Google Econometrics: Unemployment in Visegrad Countries
Pavlíček, Jaroslav ; Krištoufek, Ladislav (advisor) ; Zeynalov, Ayaz (referee)
This thesis examines the relationship between job-related Google search query indices and unemployment rate in Visegrad countries. We found that the unemployment rate generally moves in the same direction as the search volume index for the job-related term. The series of Google search query indices also proved useful for prediction-making. Models with Google series showed lower MAE and RMSE of static forecast compared to base models in all four countries. However, only models for Poland and Slovakia showed potential for nowcasting. Powered by TCPDF (www.tcpdf.org)
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Risk Management of Selected Business Entity
Zemanová, Kateřina ; Pavlíček, Jaroslav (referee) ; Škapa, Stanislav (advisor)
Theses "Risk Management of the selected business entity" is focused on risk management, analysis and optimization in the consumer cooperative COOP. Consumer cooperative covers 121 sales units in the district Zdar nad Sazavou and devoted mainly selling food and non-food goods, which are facing high competition from hypermarkets and supermarkets. The first part contains the definition of consumer cooperatives deals with general characteristics of the risks division and possible measures for its reduction, which is nowadays a very important part of risk analysis. The second part deals with the analysis in five categories of risk and risk assessment. These suggestions are based on analysis of solutions found to eliminate the risks, which will help to create a stronger team position in the market.
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Open Source tools for managing SW projects, their selection and deployment options
Seidel, Martin ; Chocholatý, Drahomír (advisor) ; Pavlíček, Jaroslav (referee)
The thesis handles with issue of open source project management software selection in small company. Goal of this thesis is to choose the right software tool, which be able to fulfil requirements from management of the company. The thesis is divided in two parts. First part deals with evaluating of theoretical conclusions of accessible literature. From these conclusions are selected specific project areas and also critical factors of project are selected. From these specific project areas and critical factors are subsequently created evaluating criteria and comparing criteria for available systems of software project management support. Second part deals with practical evaluations available opensource software tools. Evaluating runs on the basis of company requirements, evaluating criteria tools and consequent point scales. For reaching the goal of the thesis author is using analysis of project management and analysis of software projects. Afterwards the best software tool will be selected via method of comparison. The best tool will meet the requirements of company's requirements and basic evaluating criteria. The thesis brings mapping and evaluating of current accessible opensource project tools and detection, if is possible to use such tool without bigger restriction in commercial environment. Next essential merit of this thesis is to generate most suitable tool for concrete company use. The company will not have to make its own research, because this thesis will choose it instead of it.
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