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    Does concentration of ownership and family control affect specialisation/diversification business strategies?
    (Technická Univerzita v Liberci, ) Hernández-Trasobares, Alejandro; Galve-Górriz, Carmen; Ekonomická fakulta
    The impact of family ownership on strategic decision-making and diversification in public corporations is an important but not clearly understood aspect of modern corporate governance. In many cases, large-block family owners of public corporations may have a great deal of input in strategic decision-making in large corporations. Previous literature investigates how ownership structure and diversification are connected, but conclusions are not homogeneous. Agency theory suggests that professional managers are fundamentally self-interested, and the public corporation diversifies because managers pursue their own interests, rather than the interest of shareholders. However in family firms, ownership and control use to coincide and family diversification decisions which causes a lower diversification. In this paper authors analyzes the impact of ownership concentration and the influence of ultimate owner’s nature of business group (family or non-family) in diversification's decision: specialization, related diversification, unrelated diversification and mixed diversification (when a company uses both related and unrelated diversification) Based on a sample of ninety-nine Spanish listed companies during the years 2000–2005, and using the listed company an their subsidiaries (pyramidal group) as unit of analysis, this research finds: firstly, the highest ownership concentration increases the adoption of specialization strategies and reduce the mixed diversification; Secondly, attending to ultimate owner’s nature, family firms adopt more strategies of specialization and related diversification, and less diversification strategies than non-family firms; Finally, results also show behaviour differences in family firms according to ownership concentration’s degree: an increasing ownership concentration’s degree in family firms rises the probability of diversification.
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    Theory of international economic relations
    (Technická Univerzita v Liberci, ) Tvrdoň, Michal; Ekonomická fakulta
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    Virtual organization: specifics of creation of personnel management system
    (Technická Univerzita v Liberci, ) Merkevičius, Juozas; Davidavičienė, Vida; Raudeliūnienė, Jurgita; Buleca, Jan; Ekonomická fakulta
    Development of new types of organizations such as a Virtual organization brought for society certain possibilities and opportunities which usually are named as advantages, but also they can be observed as challenges or even named as a problems within organization. Models and methods applied in personnel management should be adequate and meet requirements of markets and present newest scientific mind in order not to cause decrease of competitiveness, loss of potential markets, not to cause social problems, such as unemployment, migration, disproportion between regions, etc. Due to the following reasons, the perception of personnel improvement problems and their solutions stand not only for business development factor. These circumstances formed the topicality of the article subject. Virtual organizations formation priorities contains personnel selection of virtual organization, determination of work nature principles, determination of personnel motivational factors, determination of size for the most productive intellectual activity team, problems of education and experience coordination, others. In organizing business activities under current globalization trends and adapting personnel management by network model, implementation of these priorities should be foreseen by formed virtual organizations’ goals and strategies, as well as personnel management process. Management by network has to be developed using systematic approach, emphasizing priorities in personnel management activity, taking into consideration defined organizational tasks and possibilities to coordinate them with personnel goals, together organizational activity has to be distinguished by flexibility and adaptability, according to market requirements. Goal of the research–to construct model of personnel management of virtual organization that create possibilities to manage geographically dispersed personnel using information technologies. Methods of the research–there was applied systematic analysis that allowed disclosing personnel management specifics under the conditions of virtual organizations’ development. In performing the research there were used methods of comparison, summarization and documentary analysis.
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    The effect of the exchange rate on industry-level trade flows in Czechia
    (Technická Univerzita v Liberci, ) Šimáková, Jana; Stavárek, Daniel; Ekonomická fakulta
    This paper is the first study to use the disaggregated data of the Czech foreign trade to examine the effect of exchange rate levels and volatility on trade flows. Czechia is the appropriate economy to study this phenomenon because it is heavily involved in foreign trade predominantly owned by international investors and has been applying a floating exchange rate arrangement for many years. We analyze the period from 1993 to 2013 and disaggregate the data according to trading partner and product category. While the effect of exchange rate level is examined by a modified vector error correction model the effect of exchange rate volatility is analyzed through an extended gravity model. The detailed results obtained from empirical estimations clearly show that the relationship between exchange rates and foreign trade in Czechia does not completely correspond with the theoretical assumptions. We revealed that domestic currency depreciation worsens in the long-term trade balance in substantial parts of the Czech foreign trade, such as in the trade of machinery and transport equipment with Germany, Austria and France. The classical J-curve effect was confirmed only for the trading of beverages and tobacco with Italy and for the trading of manufactured goods with Slovakia. We also found that an increased exchange rate volatility does not necessarily reduce foreign trade turnover, as the results for crude materials, fuels, chemical and manufactured products indicate. By contrast, the theoretical expectation of negative impact of volatility was validated for machinery, transport equipment, food and animals. Therefore, although Czechia is a small, open economy, the exchange rate effects on foreign trade significantly differ in magnitude and direction across the trading partners and product groups.
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    The intensity of the expression of mobbing in employees’ relations at lithuanian organizations
    (Technická Univerzita v Liberci, ) Vveinhardt, Jolita; Štreimikienė, Dalia; Ekonomická fakulta
    The authors presents general review of the literature, presents the results of the empirical research on the expression intensity of mobbing in employees’ relations in organizations. The expression of mobbing in employees’ relations has been identified in the organizations of different activity type. The expression of mobbing in employees’ relations has been identified in the organizations of different activity type. When comparing organizations of private and public sectors, the tendency that the expression of mobbing is more intensive in the private sector, especially in economical activities of agriculture and mining as well as querying, manifests. The hypothesis that mobbing is not only psychological but also managerial problem has been confirmed; it is more relevant for organizations of the private sector in Lithuania. This is influenced by poorly developed management culture and the lack of managerial knowledge, which is characteristic for management personnel. Lithuania as well as other post-Soviet countries has not performed the researches on mobbing phenomenon broadly and deeply by emphasizing managerial reasons of the phenomenon. The researches on mobbing disclose the ‘sensitive’ areas, which influence the internal climate of national capital’s organizations, the development of their competitiveness and the improvement of the corporate country investment climate. The originality of this research is presupposed not only by the fact that the situation in private and public sectors has been surveyed but also that it has been tried to identify the spread of mobbing among different fields of professional activity. In the case of this research 21 fields of professional activity have been included. During the research higher than medium expression of mobbing has been identified in the field of people health care and social work, which consist of the organizations of both public and private capital (in which more significant mobbing intensity has been identified) in Lithuanian context. It would be relevant to elaborate the research in striving to disclose differences in the culture of organizations’ management.