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Decision Making of Business Angels on Exits in Context of the Czech Venture Capital Market
Vejmělková, Lada ; Doskočil, Radek (referee) ; Horvátová, Eva (referee) ; Łapińska, Justyna (referee) ; Zinecker, Marek (advisor)
This dissertation presents research results on the identification of internal and external factors affecting angel investors’ decision to exit the venture capital market in the Czech Republic. The research is based on semi-structured interviews and questionnaire surveys with 25 angel investors. Content analysis of qualitative and quantitative data serves as the main tool of data processing. The data contained in the resulting data matrix is subjected to statistical analysis using the IBM SPSS Statistics software. The results indicate that the main form of exit of angel investors includes business sales, which, given the evolution of internal and external factors, is timed to maximize the return on investment. Moreover, exit is usually the result of an opportunistic approach to exit planning. The research results further suggest that the most important internal factors affecting angel investors’ exit include confidence, qualitative criteria for the evaluation of the investment by the angel investor, level of technological innovation, and contractual arrangements for the exit. In the case of external factors, the most important for an angel investor are the change and level of future demand for the the target company, geopolitical developments, or the tax system. The research results are used to formulate a multi-criteria decision model that serves as a decision support tool for angel investors exit decision.
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ODA as an actor in the formation of the right and Czech conservatism
Brožová, Karolina ; Perottino, Michel (advisor) ; Franěk, Jakub (referee)
The thesis deals with the formation of the Czech conservative right with the Civic Democratic Alliance in the leading role. It describes how the party participated in the transformation of the political system and describes its most significant moments. Since the germs of right-wing thinking can be found in the communist environment, the thesis also captures the risks that this entailed at the time. The aim is also to capture the party's profiling on the political ground, so its basic political themes and electoral programmes, which were often difficult to grasp in political practice, will be portrayed. It therefore focuses not only on the party's achievements in a relatively short time interval, but also on the affairs that have had an impact on the party. From the first to the second section, the thesis discusses party theory, party families, and the two core ideologies that initially inspired the founders of the Civic Democratic Alliance in detail. The theoretical framework thus helps to understand the principles on which the party operated and the programmatic values it drew upon. From the third section onwards, the thesis analyses the Civic DemocraticAlliance in detail. It concludes by answering the main goals of conservatism and how this ideology took shape. It also assesses the role of the Civic...
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Individualist or Communitarian? A study of the Presidential Campaign of Petr Pavel
Tichý, František ; Halamka, Tomáš (advisor) ; Franěk, Jakub (referee)
The diploma thesis deals with the analysis of Peter Pavel's inclination towards individualism or communitarianism during his presidential campaign in the period from 6 September 2022 to 27 January 2023. In the theoretical part, the thesis deals with the bases of individualism and communitarianism, their terminology, conceptualisation and use. On the basis of the studied literature, it then links these terms in, to a certain extent, innovative way to the political spectrum, instead of using other terms with which they are more usually associated. Since it does not find a coherent conceptualization of individualism and communitarianism in the literature, it creates its own conceptualization at the boundary between the theoretical and the practical part of the thesis. This conceptualization and knowledge acquired in the theoretical part is subsequently operationalized and a methodology is created, with the help of which it is possible to determine the inclination of politicians or public figures towards individualism or communitarianism. In the practical part, it then carries out a content analysis of statements made by Petr Pavel in his election program and in debates on the three largest Czech TV stations, i.e. Czech Television, TV Nova and Prima, which he participated in before the first and second...
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Specifics of challenger party voters in the Czech environment
Poplštein, Martin ; Dvořák, Tomáš (advisor) ; Stauber, Jakub (referee)
The rise of new challenger parties is already quite noticeable, especially in the Czech environment. However, this paper qualitatively focuses on research into the deeper thinking of the electorates of these parties. It looks at the actual reasons leading voters to choose these parties, but also examines how well such parties match the demand and ideological position of individual voters. Because the state of knowledge to date reveals certain specificities of these voters, the literature on these parties has taken a primarily quantitative approach to examining challenger party voters. However, the largely combined design of this paper explores deeper contexts in a single state setting. Overall, the thesis finds that respondents make their decision to vote for a challenger party based on several themes and visions of change, particularly the renewal of the composition of the House and the government, stemming from the face and overall PR of the parties. At the same time, respondents found it attractive to vote for candidates "untainted" by politics, as they hold views on corrupt and clientelistic politics. However, the challenger voters tend to be younger people with different views to those of the dominant parties, who are predominantly made up of the older 60+ population. Therefore, it can be...
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Environmental education and climate crisis from the point of view of grammar school students
Taušl, Pavel ; Turčová, Ivana (advisor) ; Dlouhá, Jana (referee)
Title: Environmental education and climate crisis from the viewpoint of high school students. Objectives: The main objective was to explore Czech high school students' perceptions of the climate crisis and environmental education. Other objective was to ask them about their relationship with nature. Methods: Based on the literature review, a non-standardized semi-structured anonymous questionnaire was developed. The questionnaire consisted of 9 questions referring to climate crisis and 10 questions referring to environmental education. It was first pilot-tested with 10 respondents and then adjusted. Subsequently, the questionnaire was electronically administered to Czech high schools in 6 regions. A total of 460 students and graduates aged 18-25 participated in the questionnaire survey. High schools were chosen purposefully based on the interest of their school management. Results: Based on questions referring to climate crisis we found out that 98 % out of 460 respondents have heard about the climate crisis, 57 % of respondents agree that human activity is causing the climate crisis, 61 % of respondents are interested in the impacts and causes of the climate crisis, and 60 % of respondents believe that humanity will slow it down or stop it. Based on questions referring to environmental education...
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Role of Fiscal Policy in the Recent Inflation Shock in the Czech Republic
Řepa, David ; Baxa, Jaromír (advisor) ; Pavlova, Alena (referee)
Following a massive fiscal expansion worldwide during the COVID-19 pan- demic, global inflation suddenly started to upsurge at a long-unseen pace. In- spired by the case of the Czech Republic, a country that experienced one of the sharpest hikes in the price level in the European Union between 2021 and 2023 and whose public finances have been considerably disrupted by expansive fiscal policy, the thesis aims to reveal to which extent both phenomena are related. Using panel data spanning from 1996 to 2022, the Fixed Effects and Common Correlated Effects estimators are applied to several dynamic models in which four alternative measures of fiscal stance are considered and that allow for heterogeneity in the magnitude of the coefficients as well as the presence of common effects in some cases. However, no robust evidence that the relation- ship would be economically relevant in the standard times has been revealed. Consequently, the analysis hence does not reveal a clear fiscal source of the recent inflation shock. Different drivers are likely to have affected it. Addition- ally, evidence of generally strong inflation persistence and a role of openness to international trade are observed. JEL Classification E31, E37, E62, E65, H62, H63 Keywords inflation, fiscal policy, Czech Republic, COVID- 19,...
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Permanentní opakování komunálních voleb: zablokované obce?
Krpálková, Soňa ; Jüptner, Petr (advisor) ; Čmejrek, Jaroslav (referee) ; Bubeníček, Václav (referee)
The submitted dissertation includes the issue of repeated holding of new elections to municipal councils leading to the blocking of a municipality. Although the topic is not new, it has so far been given minimal space in the examination of Czech municipal politics. The dissertation can thus be understood as the first comprehensive study devoted to the given issue. In its theoretical part, the thesis contains a large amount of data revealing the extent of the problem and its legislative background. Part of the theoretical and contextual anchoring is also an extensive European comparison of the legislation affecting the holding of elections after the decrease in the number of council members. The empirical part is then focused on the specific reasons for the repeated holding of new elections in selected municipalities of the research sample, along with their subsequent categorization and the creation of a typology of blocked municipalities, including a thorough description of individual types of municipalities with examples. The dissertation presents a possible legislative solution to the whole situation and critically evaluates the recommendations of the Ministry of the Interior applied.
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