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Solution to financial crisis in the management of construction company
Lemberk, Jan ; Polák, Martin (referee) ; Puchýř, Bohumil (advisor)
In this work we will deal with financial analysis of construction company and design possible solutions for stabilization. In the theoretical part of this work we will first focus briefly on the basic issues of macroeconomics, microeconomics, economic situation, especially in construction and perceive financial analysis of company. Based on this knowledge we will analyze a specific company and will draw possible solutions enabling us to achieve a profit or at least overcome the crisis period. For financial analysis will be the part of this work used primarily horizontal and vertical analysis ratios and analysis of financial statements.
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Political Cycles and Their Impact on Macroeconomic Indicators in the Central Europe
Botka, Jan ; Hlaváček, Michal (advisor) ; Buliskeria, Nino (referee)
This study examines the impact of the political cycle on macroeconomic indica- tors in Central Europe, with a special focus on the Czech Republic. Thirty-nine Vector Autoregressive (VAR) models were constructed using data from 1998 to 2022 aiming to apply the Political Business Cycle (PBC) theory. It is the frst time the VAR model has been used in this context for most of the selected countries. As the main variables in the model, subject to potential infuence by political cycles, were chosen real GDP, infation and unemployment. The results showed that no consistent signifcant relationship exists across all coun- tries, with each nation displaying varying connections and occasional contra- dictions to the presupposed theory. Nevertheless, certain associations between the political cycle and macroeconomic indicators were observed in individual countries, supporting the presence of the PBC to some extent in the Czech Re- public, Hungary, and Austria. Conversely, no evidence or even contradictory results were found for the PBC in Slovakia, Poland, and Germany. Addition- ally, the presence of the "partisan" political cycle was identifed in Hungary but not in the Czech Republic, Germany, or Austria. Poland's signifcant results exhibited signs opposite to those expected. This research opens new...
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A Profit-to-provisioning approach to setting the countercyclical capital buffer: the Czech example
Hodula, Martin ; Pfeifer, Lukáě
Over the last few years, national macroprudential authorities have developed different strategies for setting the countercyclical capital buffer (CCyB) rate in the banking sector. The existing approaches are based on various indicators used to identify the current phase of the financial cycle. However, to our knowledge, there is no approach that directly takes into consideration banks’ prudential behavior over the financial cycle as well as cyclical risks in the banking sector. In this paper, we propose a new profit-to-provisioning approach that can be used in the macroprudential decision-making process. We construct a new set of indicators that largely capture the risk of cyclicality of profit and loan loss provisions. We argue that banks should conserve a portion of the cyclically overestimated profit (non-materialized expected loss) in their capital during a financial boom. We evaluate the performance of our newly proposed indicators using two econometric exercises. Overall, they exhibit good statistical properties, are relevant to the CCyB decision-making process, and may contribute to a more precise assessment of both systemic risk accumulation and risk materialization. We believe that the relevance of the profit-to-provisioning approach and the related set of newly proposed indicators increases under IFRS 9.
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House Prices and Household Consumption: the case of the Czech Republic
Brůha, Jan ; Hlaváček, Michal ; Komárek, Luboš
In this paper, we investigate whether movements in property prices have detectable effects on Czech households’ consumption and saving decisions. We concentrate on three episodes of movements in house and apartment prices and ask whether property owners have significantly different consumption and saving choices from households living in rented properties. We found that, on average, property owners tend to have a lower propensity to consume and a higher saving rate independently of whether property prices move up or down. This casts doubts on the strength of the collateral channel linking the housing market to the macroeconomy in the Czech Republic.
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Czech republic in international comparison (selected indicators) - 2018
Odbor informačních služeb
Mezinárodní srovnání České republiky s ostatními zeměmi, zejména pak se státy Evropské unie. Nabízí široké spektrum údajů z mnoha oblastí statistiky, zahrnuje např. informace o obyvatelstvu, trhu práce, životní úrovni, národních účtech, financích, cenách, průmyslu, zahraničním obchodě, službách a životním prostředí.
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