Browsing by Author "Matoušková, Michaela"
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- ItemDevelopment of the Office Space Prices on the Czech Market(Technická Univerzita v Liberci, ) Matoušková, Michaela; Ekonomická fakultaThe price developments in the commercial real estate market can affect the financial stability of countries, particularly through the level of lending by companies operating in this area. In the literature, research can be found dealing mainly with residential real estate, while commercial real estate stands rather in the background. The aim of this paper is to analyse the price development of the office space (CRECVI index) in the Czech market between years 2005 to 2022. As part of the cointegration analysis, an ADL model is constructed to describe how commercial real estate prices respond to changes in selected macroeconomic indicators. The results of the analysis show that office space prices are mainly influenced by the evolution of gross domestic product, unemployment and the level of inflation and interest rates.
- ItemRelationship between Environmental, Social, and Governance Factors and Financial Performance in Central European Countries(Technická Univerzita v Liberci, ) Strýčková, Lenka; Brabec, Zdeněk; Matoušková, Michaela; Ekonomická fakultaMeasuring financial business performance is a key assumption for the responsible management of a company. Traditionally, financial measures were mainly used, but in recent years the importance of non-financial measures has increased pronouncedly. Currently, companies are encouraged to reflect on their business’s sustainability aspect. One way of measuring sustainability performance can be a company’s ESG score. This article aims to analyse the relationship between a traditional financial performance measure (return on sales) and a modern measure (ESG score) in Central European countries. The research sample consists of two groups. The first contains 74 companies from the Visegrad Group countries (V4), and the second consists of 214 companies from Germany and Austria. The relationship between those two measures was studied using the Spearman rank order correlation coefficient. Subsequently, the amount of the ESG score was analysed in both of the groups. The research findings indicate no or weak relationship between the ROS and ESG score. However, based on the Levene’s F-test, a statistically significant difference was also identified between the two country groups considering the amount of the ESG score.