Ekonomická revue. 2016, roč. 19

Permanent URI for this collectionhttp://hdl.handle.net/10084/116900

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Now showing 1 - 12 out of 12 results

Comparison of the factors affecting customers’ satisfaction with online group buying in the Czech Republic and Canada
(Vysoká škola báňská - Technická univerzita Ostrava, 2016) Pawlasová, Pavlína
The topic of this paper is the comparison of the factors that affect customers’ satisfaction with online group-buying purchases in the Czech Republic and Canada. The social exchange theory was adopted to identify these factors, which include reciprocity, reputation, trust and the vendor’s creativity in the purchase. The aim of this paper was to identify the factors affecting customers’ satisfaction with online group-buying websites in Canada and to compare the results with the results of Czech customers. Overall satisfaction was considered as one of the predictors of customers’ repurchase intention in this paper. The proposed model of the relations between determinants was tested using the method of structural equation modelling. The analysed data were collected in primary research, namely an online questionnaire. The results confirm that the vendor’s creativity and trust are the most important factors for Canadian customers, and the same applies to Czech customers, whilst reputation and reciprocity are not important factors of satisfaction for the customers from either country. The discussion of the results and the managerial implications are also included in this paper.
Alternative roles of consumer confidence in forecasting consumption: Evidence from European countries
(Vysoká škola báňská - Technická univerzita Ostrava, 2016) Závacká, Jana
The predictive power of the consumer sentiment indicator to forecast consumption spending has already been accepted, but the theoretical explanation is still vague. Moreover, some studies have shown that, after adding other macroeconomic variables to the forecasting model, the predictive power of the consumer confidence indicator becomes limited. This paper proposes to distinguish between two predictive channels of confidence data for consumption spending. The first, the income channel, should represent the ability of confidence data to predict the expected future income of consumers. The predictive power of confidence through the second channel should serve for the approximation of consumers’ intentions to consume. According to this distinction, I propose to use the data from initial survey questions separately rather than using one composite consumer confidence indicator. In this way the predictive power of confidence data can be better clarified. I use the data from the European Commission Consumer Survey and, using a sample of 27 countries, confirm that higher predictive power of confidence data could be achieved by using separate confidence data rather than a composite indicator.
Impact of investment incentives and European funds on regional development
(Vysoká škola báňská - Technická univerzita Ostrava, 2016) Brzáková, Kristýna; Přidalová, Karolína
This paper analyses the situation of investment incentives and European funds from the regional economics point of view. These two public forms of support are examined with some selected statistical variables that might be considered as indicators of regional development. In particular, the paper offers an evaluation of the amount of investment incentives assigned and the amount of resources drawn from the Regional Operation Programme NUTS 2 with the following explanatory variables: the regional added value, the migration of the population within the region, the wage level in the region and the amount assigned to research and development in the companies of the region. The aim of this paper is to test and verify the influence of investment incentives and subsidies from EU funds on regional development. The research focuses only on regional development in the NUTS 2 Northeast region in the Czech Republic within the previous 2007–2013 framework. The methodology is based on a literature review of this topic, descriptive methods and statistical testing with the assistance of Spearman’s coefficient of correlation and the Pearson correlation coefficient. In particular, it confirms the results from previous research on this topic indicating that European funds are able to affect some regional indicators more than investment incentives.
Immigration to the EU and challenges for demographic modelling
(Vysoká škola báňská - Technická univerzita Ostrava, 2016) Šimpach, Ondřej; Pechrová, Marie
The aim of the paper is twofold: first to discuss the current immigration wave to the European Union and second to foresee the impacts of this wave on demographic modelling tools. Demographic modelling has been developing from the component method through expert estimations and expectations to become the most sophisticated Lee‒ Carter models so far based on principal component analysis and stochastic modelling, modified gravity models or human capital models. However, unlike expert estimations, all the models are based on historical data and thus are not able to take into account unusual situations such as the recent immigration crisis. The paper describes the immigration to four terminal countries for immigrants in the EU ‒ France, Belgium, Germany and Italy ‒ and applies the Lee‒Carter method to project the migration process in those countries. Due to a weak database, the projection of the immigration process is made only for the years 2015 and 2016 (at present still unknown). The results show a multiple increase in the immigration profiles, which will affect the current age- and sex-specific structures of the analysed populations.
Malmquist index approach to efficiency analysis in selected old and new EU Member States
(Vysoká škola báňská - Technická univerzita Ostrava, 2016) Staníčková, Michaela; Melecký, Lukáš
The paper deals with an application of data envelopment analysis (DEA) to the performance evaluation of NUTS 2 regions in the four Visegrad countries in comparison with selected advanced European Union (EU) Member States – Austria and Germany – in the reference period 2000–2014. The main aim of the paper is to measure the efficiency changes over the reference period and to analyse the level of productivity in individual NUTS 2 regions based on the Malmquist Productivity Index (MPI). DEA is applied to assess how efficiently NUTS 2 regions use their inputs for output production. The analysis produces a ranking of the performance development of individual NUTS 2 regions through the MPI to assess the relative importance of productivity’s main components. The main purpose of this approach is to evaluate the numerical grades of efficiency of the economic processes within the evaluated NUTS 2 regions. Therefore, the efficiency of a region can be considered as a ‘mirror’ of regional competitiveness. The theoretical part of the paper is devoted to the fundamental basis of performance theory and the methodology of the MPI. The empirical part is aimed at measuring the degree of productivity and the level of efficiency changes of the evaluated NUTS 2 regions by measuring the change in technical efficiency and the movement of the production possibility frontier using the MPI. The final part of the paper offers a comprehensive comparison of the results obtained by calculating the MPI.
Competence centres as a method of innovation cooperation enhancement in the Czech Republic
(Vysoká škola báňská - Technická univerzita Ostrava, 2016) Klímová, Viktorie; Žítek, Vladimír
Innovation networks and cooperation can contribute significantly to the improvement of companies’ innovation capabilities. Innovation policy supports innovation and research cooperation through a wide range of policy tools. Competence centres are one of them. The main aim of this paper is to evaluate the features of innovation cooperation through the analysis of competence centres in the Czech Republic. The research focuses on competence centre projects supported by the Technology Agency, and the analysis is carried out with respect to the regions and participants. Our analysis is accompanied by the point method and correlation analysis. The results show that the activities of competence centres are strongly concentrated in Prague and the South Moravian Region. This type of innovation cooperation is also well developed in the Central Bohemian, Pilsen and Moravian–Silesian Regions. It is proved that universities can play the role of a facilitator of innovation cooperation.
Macroeconomic environment and insurance industry development: The case of Visegrad group countries
(Vysoká škola báňská - Technická univerzita Ostrava, 2016) Brokešová, Zuzana; Vachálková, Ingrid
The insurance industry accumulates a considerable number of financial assets and represents an essential element of the sustainable economic growth in all developed countries. Theory predicts economic changes as one of the most important determinants of insurance industry development. In transition economies, the insurance industry is in a different situation due to its specific historical context. This paper focuses on an examination of the role of a macroeconomic environment in the development of insurance sectors in selected transition countries. Our sample consists of four central European countries: the Czech Republic, Hungary, the Republic of Poland and the Slovak Republic – the Visegrad Four countries. Based on our findings, we are able to confirm that the macroeconomic environment has a strong impact on the development of the insurance industry in the selected transition countries. In addition, the results suggest that the development in the non-life insurance industry is more sensitive to the macroeconomic environment.
The issue of accessibility from the point of view of tourism service providers
(Vysoká škola báňská - Technická univerzita Ostrava, 2016) Zorková, Dagmar
This article deals with the issue of accessible tourism. The objective of the article is to sum up the evaluation of accessibility criteria from the point of view of tourism service providers. The questionnaire survey was conducted in restaurants, accommodation facilities, information centres, tourist attractions and travel agencies. More than 90% of respondents were interested in clients with special requirements. As far as evaluation of the current state of accessibility is concerned, 81% of respondents regarded the business premises as barrier-free, 70% of them think that they provide services adjusted to the special requirements of clients and 93% of respondents consider the communication of staff to be satisfactory. The respondents also expressed their opinions on the influence of particular criteria of accessibility on service quality. They regarded barrier-free access in buildings as the most important (95%), followed by offer adjustment to special requirements (77%), the level of communication between staff and clients (71%) and the possibility of lending disability equipment (64%).
Staff turnover costs in the Czech Republic
(Vysoká škola báňská - Technická univerzita Ostrava, 2016) Vnoučková, Lucie; Urbancová, Hana
The aim of the paper is to calculate the costs of staff turnover in the Czech Republic and to quantify the loss of production and costs of public budgets and organizations due to employee turnover. The outputs show that the analysed costs of staff turnover in the Czech Republic form a relatively large part of the costs of organizations and public budgets. The costs of employee turnover exert a significant impact on the economy of organizations and the state from the socio-economic point of view. The resulting amount is comparable to the average of European states and the USA. The average total employee turnover cost in the mentioned states is CZK 194,555 per employee. The paper also contains a recommendation to support the retention of critical key workers and ensure their continuity, leading to an increase in production and support of the knowledge-based economy as well as to a reduction of the negative effects of employee turnover.
Profitability and efficiency of Czech dairy farms in LFAs
(Vysoká škola báňská - Technická univerzita Ostrava, 2016) Maxová, Jana
The Czech dairy sector experienced dramatic changes after the accession of the Czech Republic to the European Union. The development after the year 2004 can be characterized by a reduction in the number of cows, growth in the milk yield, capital market imperfections, strong dependency of the local farm price on the world market price development and strong dependency of farm performance on policy measurement, namely quotas and subsidies. The aim of the paper is to evaluate the profitability and efficiency of Czech dairy farms from the point of view of less favoured areas (LFAs) and with respect to the policy measurement changes. The evaluation will be addressed using two main methods, namely stochastic frontier estimation and Spearman correlation coefficient computation. The calculations and estimations are based on unbalanced panel data of Czech dairy farms–local entities drawn from the Registr32 database and the State Agricultural Intervention Fund database. The data set covers the period from 2004 to 2013.
Backtesting AVaR and VaR with a simulated copula
(Vysoká škola báňská - Technická univerzita Ostrava, 2016) Malavasi, Matteo; Previtali, Roberto; Lozza, Sergio Ortobelli; Tichý, Tomáš
The aim of this study is to verify whether the average value at risk (AVaR) can be a good alternative to the value at risk (VaR) for estimating portfolio losses, especially regarding tail events. To achieve this aim, we use a copula framework to estimate the dependence between the stock returns of a portfolio composed of 94 components of the S&P100 index to compute the AVaR and VaR and compare the results with respect to the Gaussian exponentially weighted moving average (EWMA). To compute the simulated returns, we employ the algorithm used by Biglova et al. (2014) in portfolio selection problems and then backtest the model with Kupiec’s and Christoffersen’s tests. The results are coherent with the literature; in particular, the VaR computed both via the copula and via the EWMA seems to fail to provide an accurate risk measurement while the AVaR with the copula and EWMA appears to be more reliable.
The conditional political tax cycle: The role of fiscal credibility and transparency
(Vysoká škola báňská - Technická univerzita Ostrava, 2016) Janků, Jan
Incumbent politicians tend to use fiscal instruments in order to improve their election outcome. Surprisingly, the whole tax structure can be the subject of political manipulations under certain circumstances. The aim of this paper is to evaluate the conditional political tax cycle in the OECD countries. This means evaluating whether there are conditional systematic decreases in the tax revenue before the elections in the OECD countries. We investigate whether such systematic decreases depend on the transparency and credibility of fiscal policy. We use an unbalanced cross-country time series data set, comprising 34 developed countries (the OECD members) over the period 2000– 2013. A dynamic panel linear regression model is tested in this article, while FD GMM is employed. The results are as follows. First, there is a statistically significant political tax cycle in the tax revenues in the countries with a lower level of fiscal credibility and transparency. Second, the political tax cycle is noticeable especially in the consumption taxes.

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