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Financial performance of credit unions in the Czech Republic
Kuc, Matěj ; Teplý, Petr (advisor) ; Džmuráňová, Hana (referee)
This thesis is interested in relative performance of highly criticized Czech credit unions. Theoretical part comments on their historical development, makes international comparison and shows possible development of legislation. We created two unique datasets to assess financial performance of Czech credit unions in subsequent empirical part. The first one contains Czech credit unions' and commercial banks' data. The second one is established to make a comparison of Czech credit unions with cooperative banks operating elsewhere in the EU. Both are based on annual data between 2007 and 2012 period. System GMM method is employed as main instrument of our empirical analysis and alternative panel data methods are used as supplementary techniques. We focused our analysis on comparison of relative profitability and stability measures of Czech credit unions. The results revealed their poor performance in the given time period. According to our estimates, they resembled rather small commercial banks than cooperative ones. The negative relationship between Czech credit unions' stability measure (Z-score) and their asset size is especially striking. Moreover, Z- score of Czech credit unions decreased sharply in 2012. Such development was observed neither in case of Czech commercial banks nor in other...
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Financial performance of credit unions in the Czech Republic
Kuc, Matěj ; Teplý, Petr (advisor) ; Džmuráňová, Hana (referee)
This thesis is interested in relative performance of highly criticized Czech credit unions. Theoretical part comments on their historical development, makes international comparison and shows possible development of legislation. We created two unique datasets to assess financial performance of Czech credit unions in subsequent empirical part. The first one contains Czech credit unions' and commercial banks' data. The second one is established to make a comparison of Czech credit unions with cooperative banks operating elsewhere in the EU. Both are based on annual data between 2007 and 2012 period. System GMM method is employed as main instrument of our empirical analysis and alternative panel data methods are used as supplementary techniques. We focused our analysis on comparison of relative profitability and stability measures of Czech credit unions. The results revealed their poor performance in the given time period. According to our estimates, they resembled rather small commercial banks than cooperative ones. The negative relationship between Czech credit unions' stability measure (Z-score) and their asset size is especially striking. Moreover, Z- score of Czech credit unions decreased sharply in 2012. Such development was observed neither in case of Czech commercial banks nor in other...
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Cooperative banking in the Czech Republic and Austria
Král, Michal ; Schlossberger, Otakar (advisor) ; Radová, Jarmila (referee)
The subject of this dissertation is a cooperative banking in the Czech Republic and Austria. This sector is in the Czech banking system made by credit unions and in Austria made by cooperative banks. Working with the theoretical part deals with the origin and historical development of these institutions, examines the legal environment in both countries, which does not neglect the influence of The European Union directives, and briefly describes the Austrian banking market with the accent on the functioning of the local supervisors. The practical part analyzes the current status and role of the cooperative banking institutions in the Czech and Austrian territory and compares the cooperative sector and banks sector. Finally, it made a brief summary and evaluation of the most important conclusions, where emphasis is placed on a comparison between the Czech and Austrian cooperative banking and their mutual differences.
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