The Impact of EU Funds on Income Convergence: Case of Central European Countries
Kim, Joo Hyun; Slaný, Martin; Chytilová, Helena
2017 - English
Cílem práce je přezkoumat konvergenční hypotézu a také, zda prostředky EU pozitivně ovlivňují konvergenci příjmů. V letech 1993 až 2015 jsou zvoleny čtyři země středoevropských zemí: Česká republika, Maďarsko, Polsko a Slovensko. V původním případě se uvádí, že Polsko by mělo vykazovat nejrychlejší rychlost konvergence příjmů; Česká republika by měla vykazovat nejnižší rychlost podle konvergenční hypotézy. Navíc se předpokládá, že fondy EU mají pozitivní vliv na konvergenci příjmů. Za účelem testování hypotézy jsou beta konvergence a konvergence sigma využívány spuštěním regresních modelů v STATA. Hypotéza konvergence je správně potvrzena daty z regresních modelů. Dále se ukázalo, že finanční prostředky EU přinesly kladný dopad na konvergenci příjmů na základě změn v rozdílu příjmů v letech 1993 až 2015. Finanční prostředky EU tak přispěly k procesu sbližování příjmů mezi čtyřmi zeměmi směřujícími k EU15. The aim of the paper is to examine the convergence hypothesis as well as whether EU funds positively influence income convergence. Four countries of Central European countries are chosen: Czech Republic, Hungary, Poland, and Slovakia, to be compared to EU15 over the period of 1993 to 2015. The original hypothesis states that Poland should show the fastest speed of income convergence; Czech Republic should exhibit the lowest speed according to the convergence hypothesis. Moreover, it is assumed that EU funds have positive influences on income convergence. In order to test the hypothesis, beta convergence and sigma convergence are utilized by running regression models in STATA. The convergence hypothesis is correctly confirmed with the data from the regression models. Furthermore, it is proved that the EU funds brought positive impacts on income convergence based on changes in the income gap in the period of 1993 to 2015. So, EU funds have contributed to the process of income convergence between the four countries towards EU15.
Keywords:
Sigma konvergence; Beta konvergence; Neoklasický model růstu; Fondy EU; Sbližování příjmů; Neoclassical growth model; Beta convergence; Sigma convergence; EU funds; Income convergence
Available in digital repository of the Library of University of Economics.
The Impact of EU Funds on Income Convergence: Case of Central European Countries
Cílem práce je přezkoumat konvergenční hypotézu a také, zda prostředky EU pozitivně ovlivňují konvergenci příjmů. V letech 1993 až 2015 jsou zvoleny čtyři země středoevropských zemí: Česká republika, ...
Natural resource curse: The case of Russia
Belyakova, Elena; Frömmel, Tomáš; Máslo, Lukáš
2017 - English
Cílem této práce je poskytnout pohled na problematiku prokletí přírodních zdrojů, zejména v Ruské federaci, s ohledem na historii, změny cen ropy a situaci na světové scéně. S hypotézou, že změny cen ropy ovlivňují ruský HDP a vývoj dalších průmyslových odvětví, která nejsou založená na ropě, probíhají dvě různé regrese po dobu dvou časových období. Výsledky regresí a následný test potvrzují hypotézu, že ruský HDP závisí na cenách ropy a na změnách na světovém trhu s prostředky. Bylo zjištěno, že v sovětském období nebyla závislost sovětské ekonomiky na vývozu ropy a cenách. Výsledky jsou na podporu předchozího článku, napsaného Benedictowem et al. (2010), že ruská ekonomika skutečně trpí prokletím přírodních zdrojů. The purpose of this paper is to provide insight into the problem of the natural resource curse, particularly in the Russian Federation, with respect to history, changes in oil prices and the situation in the world arena. With the hypothesis that the changes in oil prices affect the Russian GDP and the development of other non-oil based industries, two different regressions for two time periods are run. The results of the regressions and subsequent test confirm the hypothesis that Russian GDP depends on the oil prices and on changes on the world resource market. It is found, that in the Soviet period there was no dependence of Soviet economy on oil export and prices. The results are in support of the previous paper, written by Benedictow et al. (2010), that indeed Russian economy suffers from the natural resource curse.
Keywords:
Hospodářský růst; Prokletí přírodních zdrojů; Ropný trh; Economic Growth; Natural Resource Curse; Oil Market
Available in digital repository of the Library of University of Economics.
Natural resource curse: The case of Russia
Cílem této práce je poskytnout pohled na problematiku prokletí přírodních zdrojů, zejména v Ruské federaci, s ohledem na historii, změny cen ropy a situaci na světové scéně. S hypotézou, že změny cen ...
Would Ronald Coase love Bitcoin? How Blockchain Lowers Transaction Costs and Changes the Coasian Firm
Kaid, Amira; Stroukal, Dominik; Prokop, Jaromír
2017 - English
Zvyšující se popularita blokové technologie, která je jinak známá jako technologie, která je základem protokolu Bitcoin, byla předmětem velkého průzkumu a nadšení mezi finančními organizacemi za potenciálně revoluční vlastnosti, které pravděpodobně změní fungování ekonomiky v budoucnu. Blokový řetězec je decentralizovaná kniha o otevřeném zdroji, která zaznamenává transakce bitcoin a je spravována distribuovanou sítí horníků. Blokovková technologie však má mnoho aplikací mimo měnu a může být použita v různých oblastech, včetně organizační struktury firmy a práva. Tato práce zkoumá, jak blokovací technologie sníží transakční náklady spojené s organizací firmy a jakým způsobem by to změnilo roli firmy. Coase (1937) ve svém článku (The Nature of the Firm) vysvětlil, že firmy existují a nadále působí hierarchně kvůli transakčním nákladům, které se podílejí na využití tržního mechanismu. Tento článek také zkoumá, jak by bloková klauzule snížila transakční náklady na řešení sporů uskutečněním tržních transakcí, které zmínil Coase (1960) v (Problém sociálních nákladů). K dosažení tohoto cíle se rámec Coases používá teoreticky k modelování budoucího pevného a právního systému, který je založen na blokových řetězcích a používá v transakcích bitcoin. Výsledky naznačují, že bloková technologie by snížila náklady na transakce, které společnost Coase uvedla tak, že by způsobila, že by se firma stala méně hierarchickou povahou a umožnila by jí přijmout integrující a distribuovaný systém řízení. Stejně tak v případě práva by transakční náklady mohly klesat, což by účastníkům usnadnilo vyřešit své spory pomocí tržního mechanismu, místo aby musely spoléhat na ústřední orgán. The rising popularity of blockchain technology otherwise known as the technology that underlies the Bitcoin protocol has been the subject of a lot of investigation and enthusiasm among financial organizations for its potentially revolutionary properties that will likely change how the economy works in the future. The blockchain is a decentralized open source ledger that records bitcoin transactions and is maintained by a distributed network of miners. Blockchain technology however has many applications beyond currency and can be applied in various areas including the firm organizational structure and law. This thesis examines how blockchain technology would lower the transaction costs involved in organizing the firm and how it would thus change the role of the firm. Coase (1937) in his article (The Nature of the Firm) explained that firms exist and continue to operate in a hierarchal manner because of the transaction costs that are involved in using the market mechanism. This paper also examines how the blockchain would lower the transaction costs of resolving disputes through carrying out market transactions that were mentioned by Coase (1960) in (The Problem of Social Cost). In order to achieve this aim Coases framework is used to theoretically model a future firm and legal system which are blockchain-based and that use bitcoin in their transactions. The results indicate that blockchain technology would reduce the transaction costs pointed out by Coase in such a way that it would cause the firm to become less hierarchal in nature and would allow it to adopt a more inclusive and distributed management system. Similarly in the case of law the transaction costs would fall making it easier for parties to resolve their disputes using the market mechanism instead of having to rely on a central authority.
Keywords:
decentralized; bitcoin; firm; law; Blockchain; smart contracts; transaction costs; law; Firm; Blockchain; decentralized; Bitcoin; smart contracts; transaction costs
Available in digital repository of the Library of University of Economics.
Would Ronald Coase love Bitcoin? How Blockchain Lowers Transaction Costs and Changes the Coasian Firm
Zvyšující se popularita blokové technologie, která je jinak známá jako technologie, která je základem protokolu Bitcoin, byla předmětem velkého průzkumu a nadšení mezi finančními organizacemi za ...
Investor as Homo Oeconomicus or Human; What Deviates Financial Market Decisions from Rationality?
Vacha, Robert; Chytilová, Helena; Prokop, Jaromír
2017 - English
Tato práce se zabývá rozdíly mezi fenomény Homo Oeconomicus a Human a jejich přítomnost na finančních trzích. Dále se zaměřuje na odhalení rozdílů v chování v souladu s těmito fenomény mezi skupinami lidí zapojených do finančních trhů a těmi, kteří se do finančních trhů nezapojují. K tomu používáme experiment s hodnocením založeným na anchoring indexu. Pro účely výzkumu chování v souladu s prospektovou teorií, práce definuje nový index hodnocení lidského chování Human Index, na kterém vyvozuje závěry o těchto dvou skupinách. Výsledky neukazují na významný rozdíl ve sklonu k biasům a marginálnímu rozdílu v chování v souladu s prospektovou teorií, kde skupina, která se podílí na finančních trzích, odhaluje méně chování v souladu s touto teorií. Celkově nejsou zjištěny žádné pozoruhodné rozdíly v chování mezi oběma skupinami, tj. jak skupina lidí, kteří se podílejí na finančních trzích, tak i skupina, která se nepodílí, jsou na velmi podobných úrovních. The thesis deals with the differences among phenomena of Homo Oeconomicus and Human and their presence in the financial markets. Furthermore, it aims at revealing differences of behavior in alignment with the phenomena among groups of people involved and not involved in the financial markets. To do so we use an experiment with its assessment based on the Anchoring Index. For the purpose of the research of behavior in alignment with the Prospect theory, the thesis defines new index of assessment of human behavior the Human Index upon which it draws conclusions about the two groups. The results show no significant difference in propensity to bias and marginal difference in behavior in alignment with the prospect theory where the group involved in the financial markets reveals less Human behavior. Altogether, the findings are no remarkable difference in behavior among the two groups, i.e. both the group of people involved in the financial markets as well as those not involved are Human at very similar levels.
Keywords:
Očekávání; Finanční trhy; Kognitivní zkreslení; Behaviorální ekonomie; Rozhodování za risku; Decision under risk; Behavioral Economics; Expectations; Perception Bias; Financial Markets
Available in digital repository of the Library of University of Economics.
Investor as Homo Oeconomicus or Human; What Deviates Financial Market Decisions from Rationality?
Tato práce se zabývá rozdíly mezi fenomény Homo Oeconomicus a Human a jejich přítomnost na finančních trzích. Dále se zaměřuje na odhalení rozdílů v chování v souladu s těmito fenomény mezi skupinami ...
Designing Performance Measurement System for Strategic Optimize-Sourcing Function in the Professional Services Firm
Mysin, Roman; Wagner, Jaroslav; Matyáš, Ondřej
2017 - English
The development and application of performance measurement systems for a purchasing function within a professional service company possesses a great challenge for both practitioners and academics. Despite the increasing popularity of this topic, the systems that are currently developed are rarely adequate to be applicable at the business-unit level. Furthermore, the existing productivity measures are predominantly designed to measure performance in industries where the inputs and outputs are both tangible and standardized items. Intangible and non-quantifiable factors of production cannot be reliably measured by manufacturing performance methodologies. Consequently, purchasing professionals seek tools to accurately track purchasing performances and connect it to given business strategies and objectives. This paper aims to develop a design of the performance measurement system that can be applicable onto the optimize-sourcing department of the selected firm of this study. The first section of the paper outlines key performance measurement concepts and establishes a theoretical framework that supports the following research. Subsequent questionnaires and interviews that were conducted with vital stakeholders reveal the flaws of the current performance measurement system. Conclusions derived from the interviews and questionnaires support the findings of extensive literature reviews. In the following chapters, the paper focuses on the development of the new model that overcomes limitations of the model in use. The thesis also lists additional recommendations on the implementation phase of the new model. In the final section, this paper emphasizes the limitations of the proposed model and describes potential challenges related to the implementation phase. The development and application of performance measurement systems for a purchasing function within a professional service company possesses a great challenge for both practitioners and academics. Despite the increasing popularity of this topic, the systems that are currently developed are rarely adequate to be applicable at the business-unit level. Furthermore, the existing productivity measures are predominantly designed to measure performance in industries where the inputs and outputs are both tangible and standardized items. Intangible and non-quantifiable factors of production cannot be reliably measured by manufacturing performance methodologies. Consequently, purchasing professionals seek tools to accurately track purchasing performances and connect it to given business strategies and objectives. This paper aims to develop a design of the performance measurement system that can be applicable onto the optimize-sourcing department of the selected firm of this study. The first section of the paper outlines key performance measurement concepts and establishes a theoretical framework that supports the following research. Subsequent questionnaires and interviews that were conducted with vital stakeholders reveal the flaws of the current performance measurement system. Conclusions derived from the interviews and questionnaires support the findings of extensive literature reviews. In the following chapters, the paper focuses on the development of the new model that overcomes limitations of the model in use. The thesis also lists additional recommendations on the implementation phase of the new model. In the final section, this paper emphasizes the limitations of the proposed model and describes potential challenges related to the implementation phase.
Keywords:
Management Accounting; Performance Measurement; Performance Management; Performance Measurement; Management Accounting; Performance Management
Available in digital repository of the Library of University of Economics.
Designing Performance Measurement System for Strategic Optimize-Sourcing Function in the Professional Services Firm
The development and application of performance measurement systems for a purchasing function within a professional service company possesses a great challenge for both practitioners and academics. ...
Comparison of Management Accounting and Controlling Practice in the People’s Republic of China and Germany
Häuser, Florian; Wagner, Jaroslav; Král, Bohumil
2017 - English
This master thesis compares management accounting (MA) in China and Germany. It starts by analyzing the conceptual development over time. Afterwards, it categorizes the spread of the methods and explains conceptual differences in more detail. Subsequently, macroeconomic factors that have influenced the development of MA are described, evaluated, and future implications for the further development of MA are derived. For this purpose a traditional literature review is used. The MA practice in Germany is further disseminated than in China. Moreover, German management accountants are characterized as business partners while Chinese management accountants are perceived as analysts and inspectors. Other conceptual differences in terms of MA are the data source, the overall orientation, country-specific techniques, and the organizational structure. Most of the differences between German and Chinese MA can be allocated to political, economic, foreign, educational, academic, and cultural influences. The future implications for the further development depend on each factor individually. This master thesis compares management accounting (MA) in China and Germany. It starts by analyzing the conceptual development over time. Afterwards, it categorizes the spread of the methods and explains conceptual differences in more detail. Subsequently, macroeconomic factors that have influenced the development of MA are described, evaluated, and future implications for the further development of MA are derived. For this purpose a traditional literature review is used. The MA practice in Germany is further disseminated than in China. Moreover, German management accountants are characterized as business partners while Chinese management accountants are perceived as analysts and inspectors. Other conceptual differences in terms of MA are the data source, the overall orientation, country-specific techniques, and the organizational structure. Most of the differences between German and Chinese MA can be allocated to political, economic, foreign, educational, academic, and cultural influences. The future implications for the further development depend on each factor individually.
Keywords:
Germany; China; Comparative management accounting; Economical influence; Cultural influence; Educational influence; Conceptual comparison; Educational influence; Economical influence; Conceptual comparison; Germany; China; Comparative management accounting; Cultural influence
Available in digital repository of the Library of University of Economics.
Comparison of Management Accounting and Controlling Practice in the People’s Republic of China and Germany
This master thesis compares management accounting (MA) in China and Germany. It starts by analyzing the conceptual development over time. Afterwards, it categorizes the spread of the methods and ...
IFRS implementation: A case of real company
Balík, Pavel; Procházka, David; Peprníčková, Mariana
2017 - English
The aim of the Master thesis is to depict the first application of International Financial Reporting Standard in the company that reports under Czech Accounting System. The aim is to describe each accounting systems on theoretical basis and deduct differences between them. Subsequently, the application of IFRSs is carried out on the practical level with the cooperation of the company IPB Invest, a.s. The primary goal is the conversion of financial statements based on the IFRS requirements. The attention is given to the technical implementation of financial statement conversion. The main business of the company is rendering of financial lease services. Therefore, the conversion in particular relates to accounting treatment of financial leases under IAS 17. The outcome are financial statements prepared in accordance with International Financial Reporting Standards. The aim of the Master thesis is to depict the first application of International Financial Reporting Standard in the company that reports under Czech Accounting System. The aim is to describe each accounting systems on theoretical basis and deduct differences between them. Subsequently, the application of IFRSs is carried out on the practical level with the cooperation of the company IPB Invest, a.s. The primary goal is the conversion of financial statements based on the IFRS requirements. The attention is given to the technical implementation of financial statement conversion. The main business of the company is rendering of financial lease services. Therefore, the conversion in particular relates to accounting treatment of financial leases under IAS 17. The outcome are financial statements prepared in accordance with International Financial Reporting Standards.
Keywords:
IFRS; IFRS transformation; Trial balance conversion; Financial leases; CAS; Trial balance conversion; IFRS; Financial leases; IFRS first application; CAS
Available in digital repository of the Library of University of Economics.
IFRS implementation: A case of real company
The aim of the Master thesis is to depict the first application of International Financial Reporting Standard in the company that reports under Czech Accounting System. The aim is to describe each ...
The Role of Human Resources during Acquisition in an International Company
Andriianova, Anastasiia; Brunet-Thornton, Richard; Čech, Pavel
2017 - English
Tato diplomová práce se zabývá hodnocením roli HR oddělení během akvizice dvou společnosti. Autorka má tříletou zkušenost v oblasti řízení lidských zdrojů v mezinárodní společnosti. Tato zkušenost ji pomohla lépe pochopit zkoumanou problematiku a popsat ji v této práci. Většina firem na současném trhu práce nevěnuje náležitou pozornost otázkám lidských zdrojů v době akvizice, což může způsobit pokles morálky a pracovní kultury v dané společnosti. Taková situace může vést ke ztrátě lidských talentů, a navíc stát společnost za její pověst a dokonce i zisk. Firma může získat nejlepší technologie na trhu, ale nikdy nebude úspěšná bez spokojených zaměstnanců. Diplomová práce se skládá z teoretické a praktické části. V první části autorka shromažďuje nejdůležitější znalosti z akademických zdrojů a ekonomických časopisů souvisejících s daným tématem. Ve druhé části autorka zkoumá role HR během turbulentního období akvizice na příkladě jedné mezinárodní společnosti. Autorka popisuje kulturu této společnosti, a jak se změnila vnitřní struktura HR, aby mohla sloužit podnikovým cílům po akvizici. V rámci tohoto výzkumu se uskutečňují dva průzkumy mezi HR a zaměstnanci pražské pobočky této společnosti. Na základě analýzy průzkumů, vlastních zkušenosti autorky a neformálních rozhovorů s HR odborníky, autorka navrhuje praktické doporučení v nejdulezitejších oblastech akvizice, za které jsou zodpovědné HR. The topic of this thesis is dedicated to Human Resources role during a corporate acquisition in the company. The author has 3 years of HR experience from an international company that contributes to better understanding and clearer insight. Recently, acquisitions occur frequently, and companies do not always pay the appropriate attention to Human Resource issues that in turn, cause the decline of morale and culture. This results in the loss of key talent. In addition, this costs the company its reputation and possible decrease in profit. One can obtain the best technologies, but will not be able to succeed without employees who are satisfied with their employer and are dedicated to their job. The thesis is divided in two sections. In the first section, the author collects the most relevant knowledge from academic and business sources related to the topic. In the second section, the role of Human Resources during the turbulent time of acquisition is explored based on the example of one international company. The author describes the culture in this company, and also how the HR structure changed to be able to serve corporate objectives after the acquisition. Two surveys are conducted in this company among HR leaders and employees from Prague office. Based on the analysis of the surveys, author own observations and informal interviews with senior HR professionals, the author proposes valuable recommendations and suggestions for the most critical areas in which HR responsibilities are fundamental.
Keywords:
řízení lidských zdrojů; akvizice; kultura; Human Resources; Acquisition; Culture
Available in digital repository of the Library of University of Economics.
The Role of Human Resources during Acquisition in an International Company
Tato diplomová práce se zabývá hodnocením roli HR oddělení během akvizice dvou společnosti. Autorka má tříletou zkušenost v oblasti řízení lidských zdrojů v mezinárodní společnosti. Tato zkušenost ji ...
Statistical models for an MTPL portfolio
Pirozhkova, Daria; Zimmermann, Pavel; Malá, Ivana
2017 - English
In this thesis, we consider several statistical techniques applicable to claim frequency models of an MTPL portfolio with a focus on overdispersion. The practical part of the work is focused on the application and comparison of the models on real data represented by an MTPL portfolio. The comparison is presented by the results of goodness-of-fit measures. Furthermore, the predictive power of selected models is tested for the given dataset, using the simulation method. Hence, this thesis provides a combination of the analysis of goodness-of-fit results and the predictive power of the models. In this thesis, we consider several statistical techniques applicable to claim frequency models of an MTPL portfolio with a focus on overdispersion. The practical part of the work is focused on the application and comparison of the models on real data represented by an MTPL portfolio. The comparison is presented by the results of goodness-of-fit measures. Furthermore, the predictive power of selected models is tested for the given dataset, using the simulation method. Hence, this thesis provides a combination of the analysis of goodness-of-fit results and the predictive power of the models.
Keywords:
pricing model; claim frequency; Negative Binomial model; Overdispersed Poisson model; Poisson model; count data model; overdispersion; cross-validation; predictive power; goodness-of-fit; Poisson model; overdispersion; cross-validation; predictive power; Overdispersed Poisson model; claim frequency; pricing model; goodness-of-fit; Negative Binomial model; count data model
Available in digital repository of the Library of University of Economics.
Statistical models for an MTPL portfolio
In this thesis, we consider several statistical techniques applicable to claim frequency models of an MTPL portfolio with a focus on overdispersion. The practical part of the work is focused on the ...
M.I.C.E. Tourism as a Human Resources Management Tool (Aplication Study AIESEC)
Pacáková, Kateřina; Abrhám, Josef; Havlíčková, Blanka
2017 - English
Bakalářská práce popisuje specifika kongresového cestovního ruchu v obecné rovině i situaci v ČR. Následně pozoruje použití produktů a proces přípravy a organizace akcí kongresového cestovního ruchu ve studentských organizacích, konkrétně v AIESEC Česká republika a ve Studentské unii ČVUT, a představuje souhrnnou metodiku obsahující osm okruhů přípravy těchto akcí za účelem podpory řízení lidských zdrojů. The thesis describes characteristics of MICE tourism in general and in the Czech Republic. It also observes usage and process of preparation of MICE products in student organizations, namely in AIESEC Czech Republic and Student Union CTU, and presents a general eight aspect scheme for organizing such events to ensure their contribution to human resources management.
Keywords:
MICE; kongresový cestovní ruch; řízení lidských zdrojů; MICE; human resources management; event management
Available in digital repository of the Library of University of Economics.
M.I.C.E. Tourism as a Human Resources Management Tool (Aplication Study AIESEC)
Bakalářská práce popisuje specifika kongresového cestovního ruchu v obecné rovině i situaci v ČR. Následně pozoruje použití produktů a proces přípravy a organizace akcí kongresového cestovního ruchu ...
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