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    Impacts of selected NACE industries´ foreign ownership on the czech economy
    (Technická Univerzita v Liberci, ) Roubíčková, Michaela; Heryán, Tomáš; Ekonomická fakulta
    The aim of the current paper was to estimate whether the Czech companies’ equity increasing and returns on equity’s development have an impact on GDP’s development in selected Czech business sectors. Contribution of our study to foreign direct investment and firm performance the matters is using quarterly frequency data to examine relationship between foreign ownership and quarterly economic growth in selected NACE business sectors. Hanoušek et al. [9] argue that Foreign Direct Investments (FDI) have some several impacts at the Czech microeconomic level. We argue then, it could be interesting to compare domestic and foreign ownership with weighted GDP growth rate in the Czech Republic. If foreign equity in the country and rentability of foreign owned companies affect GDP more than rentability of domestic companies, foreign ownership is more efficient for the Czech economy. From our point of view, microeconomic data in pooled sample could influence macroeconomy of the country. It motivates recent study. We are estimating panel regression models with cross section weights. Our endogenous variable is weighted GDP growth rate in pooled data of all our selected business industries. Our exogenous variables are average equity growth rate and growth rate of return on equity (ROE), both in pooled sample of selected Czech industries. This study proved positive impacts of foreign ownership on GDP in the Czech Republic. Foreign-owned companies have a positive impact on GDP growth rate through both increase in equity and increase of ROE of Czech firms. In the case of domestic-owned firms the positive impact of ROE change was not demonstrated.
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    Market orientation and strategic behaviour at high-tech companies
    (Technická Univerzita v Liberci, ) Kaňovská, Lucie; Tomášková, Eva; Ekonomická fakulta
    The paper is focused on market orientation with a special emphasis on strategic behaviour at high–tech companies in the Czech Republic. Market orientation is based on marketing conception and is described by many researchers as a method that helps to contribute to the better management of a company. The perception of the implementation of market orientation is evolving. However, the main principle is still the same – market orientation has a positive impact on business performance. Nowadays, a lot of authors deal with the implementation of market orientation. From this reason, we have undertaken research entitled: “Research on implementation on market orientation in Hi-Tech Firms” (GA 402/07/1493). The paper deals with market orientation and strategic behavior at hi-tech firms. The objective of the paper is to assess relationships between market orientation and strategic behaviour at high-tech companies. The data was acquired via a New Method questionnaire, which measured market orientation in a company. The New Method questionnaire, containing a 7-point Likert scale created by Tomaskova [54] was used for the research. The complete database was analyzed by using standard statistical methods (correlation analysis, Spearman correlation coefficient, chi-square) as well as other sophisticated techniques (Cronbach alpha). The main results of the research show that the level of market orientation at hi-tech firms in the Czech Republic is high and confirms the importance of obtaining information and using this information inside the company for market orientation. The main results of the research findings show that market orientation has a significant influence on strategic behaviour. It is possible to say that strategic behaviour is a part of market orientation. This strategic behaviour can be divided into two parts: Firstly gaining information for strategic company decision-making and, secondly, ways of using the information obtained in a company. Both these parts have a significant influence on business performance.
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    Integrative model for evaluation of development potentials of regions and its application on an example of the Czech Republic
    (Technická Univerzita v Liberci, ) Viturka, Milan; Ekonomická fakulta
    The aim of this paper is to introduce a new model for the evaluation of development potentials of regions, including methodology, application and conceptualization of the obtained information. The main components of this model are the business environment quality, innovation potential of companies and use of human resources, interpreted using relevant factors or indicators. The model has been applied to the evaluation of Czech regions – 205 administrative districts (microregional level) and 14 NUTS 3 regions (mesoregional level). Information capacity of the model has been proved by the confirmation of the hypotheses assuming strong relationships among business environment quality and regional GDP and population size of regions. A synthesis allowed us to define the main regularities, evaluate the competitive positions of regions and create the spatial model of the economic development of the Czech Republic. Special attention has been given to the unique method for the identification of territorial systems of poles and axes of development and further to the hierarchy of integration processes (using the profile interaction method). Subsequently, we conceptualized the results from the perspective of regional policy creation using the method of development scenarios. This allows for a flexible optimization of the main priorities and tools of a regional policy (regions are defined and territorially specified by means of flexible sets of relevant measures). From a theoretical perspective, we extend the knowledge about the processes of polarization and integration as key anifestations of the principles of developmental and hierarchical differentiation of society in the conditions of increasing globalisation.
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    Identification and prioritization of key stakeholder groups in marketing communication of colleges
    (Technická Univerzita v Liberci, ) Slabá, Marie; Štarchoň, Peter; Jáč, Ivan; Ekonomická fakulta
    This paper shows the possibility of using the Stakeholder Circle Methodology for the identification and prioritization of key stakeholder groups for the purpose of marketing communication in colleges. At the beginning, we emphasize the necessity of the use of marketing communications in the context of the changing market situation of tertiary education in the Czech and Slovak Republics, then we present basic steps of the Stakeholder Circle Methodology and methodology of the research. The selected research results are compared and subjective priorities are assigned based on professional judgment and, at the end, objective priorities are identified by Stakeholder index and subsequently key stakeholder groups are identified. Particular individual departments, faculty and staff, the media, potential and present students, and marketing and public relations departments belong among the most important target groups of stakeholders in marketing communication of universities. Based on the research results, the importance of internal communication has to be supported by universities’ marketing communication, followed by media relations forward to increasing a positive image and goodwill.
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    Hypotéza permanentního příjmu v zemích visegrádské skupiny
    (Technická Univerzita v Liberci, ) Pánková, Václava; Ekonomická fakulta
    Consumption following a permanent income hypothesis (PIH) is a theoretical concept the validity of which in a given economy during a given period can be confirmed or non-confirmed by the help of an econometric approach. Mathematical formulation of PIH following adaptive expectation technique given by Friedman and the ways of testing the validity of permanency are recapitulated. Two alternative approaches are established: (a) Model published by Campbell and Mankiw [4] looking for an appropriate econometric technique starting by permanent income hypothesis; based on the results of Hall and Flavin, the model allows to reflect an existence of both PIH and non – PIH consumers and to quantify their proportion. (b) Model of error correction mechanism as a theoretical concept bringing a solution of problems arising by dealing with non – stationary time - series (e.g. [15]) which happened to suite PIH as an application. Possible influence of financial and economic crises is proposed to be measured by introducing relevant dummies in the models. Using the actual data of the Visegrád group (Czech Republic, Hungary, Poland, Slovakia) and comprising Austrian economy to provide a comparison, both models are estimated. Small discrepancies according to model in question are evident by following individual economies. Treating Visegrád as a panel, both models provide an identical result. PIH cannot be applied to whole economies, nevertheless, as it is shown about 50% of households in the four Visegrád economies consume according to PIH. Critical years 2008–2012 (end of the data sample) do not change this result significantly.