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The housing estates’ regeneration in accordance with the interests of the heritage care
Řepková, Hana
This methodical guide is based on a synthesis of three approaches to the revitalization of panel housing – urbanist, heritage and architectural. The guide aims to contribute to increasing the lifespan of panel housing while maintaining the estates‘ key values for their residents. It provides suggestions on how best to cultivate the housing estates‘ environment and to positively influence their status within the commonly held image of inhabited landscapes as an effective part of sustainable development of the structure of settlements in the Czech Republic. The guide strives to effectuate change in societal opinion by showcasing panel housing’s domestic history, embodied values and potential for development within the international context. Aside from foreign experiences, it focuses on an original and proven domestic method of facade appearance regulation. Adherence to basic regulations for the foundation and continuous upkeep of traditional urban structures helps panel housing to become a regular part of said structures. The guide encourages searching, appreciation and protection of outstanding and original solutions. The recognition of the specifics of Czech housing estates, which the guide identifies, is to serve as a starting point for their universal acceptance and eventual heritage care.
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Democratic erosion and media in Central Europe
Nováčková, Michaela ; Guasti, Petra (advisor) ; Mlejnek, Josef (referee)
The bachelor thesis analyses the declining media freedom in relation to the transformation of the ownership structure in Hungary and Poland. In the theoretical part, it introduces the reader to key concepts and definitions of democratic backsliding, which places in the context of the basic historical development of media freedom in the two selected countries. In the analytical part, the thesis focuses on three variables: state advertising, ownership structure and delegitimization of journalists, according to which it compares the situation in Hungary and Poland on the basis of a paired comparison. The aim is to find out what effect the changing ownership structure has on media freedom and how this is reflected in the quality of democracy of political regimes.
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Capital Regulation, Bank Ownership and Bank Risks: Evidence from Central and Eastern Europe, and Asia
Gwee, Tian Jie ; Gregor, Martin (advisor) ; Dědek, Oldřich (referee) ; Bruno, Randolph Luca (referee)
The aim of this thesis is to investigate the association of ownership structure and bank risk-taking as well as the effects of capital regulation. This study employs simultaneous equations, panel data and instrumental variables (IV) models on a sample of 192 banks from Eastern Central Europe and Asia Regions from 2005-2014. An assessment was made on how banks adjust their capital level as well as portfolio risks when there is a minimum capital regulatory ratio. The results indicate that firstly, banks react to the capital regulatory pressure by increasing capital and changes in capital and bank risk changes are positively related. Secondly, it is found that Foreign-owned banks have higher default risks than Domestic-owned banks; however, Government-owned banks are more stable in terms of asset risks measure during the year when there is election. When taking the market forces into account, in listed banks, insider owners and institutional owners have positive impacts on asset risks while positive asset risks on listed Government-owned banks only during the election. Finally, the findings also show that when capital regulation is taken as a moderating variable, it has influenced the impacts of ownership structure and bank risk, however, the increasing effects can only be proven for insider owners...
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State ownership and ownership concentration as determinants of dividend policy
Picálek, Jan ; Čornanič, Aleš (advisor) ; Malinská, Barbora (referee)
This bachelor thesis complements the existing research on implications of various ownership structures on dividend policy. It extends the literature focused on state ownership and its impact on dividend amount paid out to shareholders for testing such relationship in the environment of EU listed stock market and EU government agencies, scope so far lacking in the scientific literature. Moreover, it provides new way of testing agency theory of dividends by adopting Herfindahl's index as proxy of ownership concentration. Therefore, interaction between shareholders is accounted for as opposed to the commonly used proxy largest shareholder. As a result, this thesis helps to explain relations between various ownership structure characteristics and dividend policies. Primary econometric methods, panel data estimation methods, of this thesis found significantly positive relationship between state owned enterprises and the amount of profit distributed among shareholders. Compared to existing research on emerging economy of China, less evidence is found. Therefore, I argue that tunnelling tendencies in EU are substantially lower due to level of market development and minority investor protection in EU. The results also back up the agency theory, however, its influence is found to be lower than proposed by...
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Analysis of concentration, ownership structure and integration tendencies of breweries in Czechia
Forman, Martin ; Květoň, Viktor (advisor) ; Slach, Ondřej (referee)
Over the last ten years the phenomenon of opening new microbreweries has reached Czechia. Since 2008 more than 350 new microbreweries have been opened and the map of breweries has recorded significant changes. Regarding these facts the main goals of this thesis were to analyze the brewing industry in Czechia in the context of ownership structure, concentration tendencies and mergers and acquisitions activity. First part focuses on the characteristics of the breweries' geographical layout related to the ownership structure and size based on annual beer production and in context of selected socioeconomic indicators. Following this part is an analysis of decomposition with use of concentration and cluster ratios. This part aims on cluster forming tendencies of brewing companies. The analytical part is completed with mergers and acquisitions characteristics in this industry sector. The basic figures and signs of the geographical decompositions were identified based on selected analytical methods and complex maps. Several concentration zones where breweries tend to cluster were labeled using the cluster analysis. Mergers and acquisitions reveal the difference in integration activity according to the brewery size. Key words: brewing industry, breweries, ownership structure, concentration, cluster, Czechia
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Firm efficiency, foreign ownership and CEO gender in corrupt environments
Hanousek, Jan ; Shamshur, Anastasiya ; Trešl, Jiří
We study the effects of corruption on firm efficiency using a unique dataset of private firms from 14 Central and Eastern European countries from 2000 to 2013. We find that an environment characterized by a high level of corruption has an adverse effect on firm efficiency. This effect is stronger for firms with a lower propensity to behave corruptly, such as foreign-controlled firms and firms managed by female CEOs, while local firms and firms with male CEOs are not disadvantaged. We also find that an environment characterized by considerable heterogeneity in the perception of corruption is associated with an increase in firm efficiency. This effect is particularly strong for foreign-controlled firms from low corruption countries, while no effect is observed for firms managed by a female CEO.
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Capital Regulation, Bank Ownership and Bank Risks: Evidence from Central and Eastern Europe, and Asia
Gwee, Tian Jie ; Gregor, Martin (advisor) ; Dědek, Oldřich (referee) ; Bruno, Randolph Luca (referee)
The aim of this thesis is to investigate the association of ownership structure and bank risk-taking as well as the effects of capital regulation. This study employs simultaneous equations, panel data and instrumental variables (IV) models on a sample of 192 banks from Eastern Central Europe and Asia Regions from 2005-2014. An assessment was made on how banks adjust their capital level as well as portfolio risks when there is a minimum capital regulatory ratio. The results indicate that firstly, banks react to the capital regulatory pressure by increasing capital and changes in capital and bank risk changes are positively related. Secondly, it is found that Foreign-owned banks have higher default risks than Domestic-owned banks; however, Government-owned banks are more stable in terms of asset risks measure during the year when there is election. When taking the market forces into account, in listed banks, insider owners and institutional owners have positive impacts on asset risks while positive asset risks on listed Government-owned banks only during the election. Finally, the findings also show that when capital regulation is taken as a moderating variable, it has influenced the impacts of ownership structure and bank risk, however, the increasing effects can only be proven for insider owners...
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Profitability of Foreign Owned Banks in Central and Eastern European Countries
Kufnerová, Andrea ; Lešanovská, Jitka (advisor) ; Lypko, Vyacheslav (referee)
Since foreign owned banks create important market shares in the banking sectors in the Central and Eastern European (CEE) countries, the aim of this study is to detect the determinants of the profitability of foreign banks operating in this region. In our study, we focus on the sample of foreign owned banks in 10 CEE countries during the period 2003-2011. We investigate, using the econometric analysis, the impact of bank-specific, macroeconomic and market structure characteristics as well as the euro area development on the profitability of foreign owned banks. We also examine whether the impact of these determinants differs in the period before the global financial crisis and during the crisis. Our results suggest significant influence of the bank-specific factors on the profitability of foreign owned banks and that the sensitivity of profitability to bank-specific characteristics has even risen during the crisis period. Surprisingly, we do not find the relation between the market structure in the host country, where the banks operate, and the profitability similarly to the participation of the host country in the European Union and the euro area. However, some of the macroeconomic variables capturing both the host country and the euro area developments affect bank profitability but in some cases...
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Transition economy and privatization in Mongolia: case study: analysis of voucher privatization in Mongolia
Khurelbaatar, Baigali ; Mlčoch, Lubomír (advisor) ; Glazar, Ondřej (referee)
Title: Transition economy and Privatization in Mongolia Subtitle: Analysis of voucher privatization in Mongolia Author: Khurelbaatar Baigali Supervisor: Prof. Ing. Lubomír Mlčoch.CSc Abstract: The voucher privatization was one of the biggest economic action during transition economy. However, the main consequences of such action were unexpected, very rapid and it was a political action rather than economical. Also Mongolian citizens' disapproval of the voucher privatization is still great after 20 years. But in year 2011, Mongolian government approved using very similar method for the privatization on mining sector, named a "Tavan Tolgoi" privatization. This thesis focuses on a particular process of the Mongolian by comparing between Russian and Czech voucher privatization. Comparative study with both qualitative and quantitative research methods is carried based on the data of three countries; economic indices and questionnaire were collected by author. In this study, the whole process is described and the main part of the thesis focuses on analysis of the free voucher allocating method and its advantages as well as disadvantages. The aim of the thesis is to reveal the true impacts of the voucher privatization and ultimately try to answer whether it is social confusion or it is a non-recommended method.
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Ownership Structure of the Company
MARKOVÁ, Pavlína
The aim of this thesis is to classify assets and its structure in relation to the financing of these assets and apply selected methods on a particular company. The main part consists of financial analysis - vertical and horizontal analysis of assets and ratio analysis, especially indicators of activity, liquidity, profitability and debt. An integral part is the actual characteristics of the enterprise in terms of the property construction. The results of analysis are evaluated and serve as a basis for recommending the company to increase efficiency and productivity.
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