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Mass Privatisation and Privatised Firms' Performance in the Post-Privatisation Era: Empirical Evidence from the Czech Republic, Poland, and the Slovak Republic
Wang, Yanyi ; Szobi, Pavel (advisor) ; Akdogan, Idil (referee) ; Čech, František (referee)
This study used panel data on 25 privatised firms from the Czech Republic, Poland, and Slovakia from 2000 to 2019 to explore the impact of different MPS on firm performance in the post-privatisation era. This paper then explored two main research questions: 1) The 2008 financial crisis presented problems for corporations with different governance models. How did firms built utilising various MPS models perform differently across the three countries in this context? 2) What factors would affect the performance of privatised firms in the post-privatisation era? Additionally, this study first used the Wilcoxon signed rank test to analyse six performance variables for the sample firms for eight years before and after 2008. The researcher then chose the corporate governance index (GOV) and shareholder return (ROSF) as the main explanatory variables and did a random effects regression analysis of privatised firm performance. Finally, the paper had two main findings: 1) The financial crisis had a more significant impact on the Czech Republic and Slovakia but had a more negligible influence on Poland. 2) During the post-privatisation era, GOV did not distinctly affect privatised company performance, while ROSF had a more substantial explanatory power for performance based on market development and policy...
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Prepared for the Worst: Counter-terrorism in the Visegrad
Stehlík, Jan ; Hokovský, Radko (advisor) ; Bureš, Oldřich (referee)
The study investigates the development of counter-terrorism in the Czech Republic, Hungary, Poland and Slovakia between 1989 and 2017, with a focus on developments of the Criminal Code and changes in the institutional framework. A description of counter-terrorism developments is constructed for each country. Subsequently, general hypotheses about counter-terrorism development derived from existing literature are tested using causal-process tracing tools, resulting in preliminary conclusions about the causes of the identified developments. The results indicate that changes in the Criminal Code were primarily driven by external pressure from international organisations, whereas institutional changes tended to result from country-specific processes, threat perception and inspiration from abroad. Keywords: Counter-terrorism, terrorism, Visegrad, Central Eastern Europe, Czech Republic, Hungary, Poland, Slovakia
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"Eastern Europe" in the Mental Map of an English Traveller from the 16th to the 18th Century
Radiměřská, Božena ; Klusáková, Luďa (advisor) ; Kubeš, Jiří (referee) ; Křížová, Markéta (referee)
"Eastern Europe" in the Mental Map of an English Traveller from the 16th to the 18th Century Abstract The thesis aims to interpret the early modern English/British travel writings about (Central) Eastern Europe. It results in the reconstruction of mental maps of the selected travellers with regard to a typology (merchants, professionals, intellectuals, clergymen, and women). The special attention is paid to the images of marginality, such as inconvenience and danger, ignorance and backwardness, exaggeration and pomp, former splendour and present lamentation, pleasant and unpleasant landscape. The primary sources comprise a selection of fifteen travel writings which are read and interpreted with respect to the development of the genre and to the broader cultural and historical context. The covering concept is a mental map conceived as an imaginary representation of space and as a tool for cultural orientation and self-identification. The reconstruction of the mental maps is performed in four steps. Firstly, by defining the subject (a traveller) within the typology. Secondly, the landmarks (centres) in the mental maps are reconstructed. Thirdly, the images of marginality are presented. Finally, the mental maps are concluded. Methodologically, the thesis is based on the interpretation and language analysis of...
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CEE stock market comovements: An asymmetric DCC analysis
Gjika, Dritan ; Horváth, Roman (advisor) ; Svoboda, Svatopluk (referee)
We investigate the interdependence among three CEE stock markets and be- tween CEEs vis-à-vis euro area, using daily data from 2001-2011. Initially, we estimate bivariate ADCC models. Then, OLS regressions are employed to understand the evolution of correlations in time and during the recent financial crises. Finally, we examine the relationship between correlations and volatilities using the simple OLS model and the rolling stepwise regression methodology. Our results indicate that 3 out of 4 series exhibit asymmetries in conditional variances, while only 1 pair out of 6 exhibit asymmetries in correlations. We found that correlations are increased over time and during the recent financial crises for both pairs (CEEs-CEEs and CEEs-eurozone). However, the highest increase is observed for CEEs-eurozone. Mainly, we found a positive rela- tionship between correlations and volatilities, even though this relationship is niether constant in time nor strictly positive or negative during all the sample period, but rather time-varying with periods of being higher or lower than zero.
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