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- ItemPrávo európskej únie(Technická Univerzita v Liberci, 2014-06-11) Pauličková, Alena; Ekonomická fakultaPrávo európskej únie
- ItemVyužití balanced scorecard a vliv jeho využívání na finanční výkonnost podniků v ČR(Technická Univerzita v Liberci, 2014-06-11) Knápková, Adriana; Homolka, Lubor; Pavelková, Drahomíra; Ekonomická fakultaThe article aims to analyze the use of the balanced scorecard (BSC) concept in Czech enterprises and the effect of its use on the financial performance of companies. The article defines the BSC concept and its important shift from the basic system for measuring the performance of the BSC as a strategic tool for measuring and managing business and management performance. There are also analyzed the results of the empirical findings of foreign studies that examined the relationship between the use of BSC and financial performance of companies. An extensive questionnaire survey carried out by the Faculty of Management and Economics of TBU in Zlín (a total of 350 enterprises in the Czech Republic) revealed that the BSC is used by approximately 13% of enterprises. A company’s size affects the use of BSC, which was confirmed by chi-square, and therefore we can state that the use of BSC grows with a company’s size. Although the use of BSC in manufacturing and service-based businesses is higher than in trading companies, the use of the chi-square did not confirm the impact of company specialization on the use of BSC. The BSC concept is also more frequently used in companies established before 1990 than in those founded later, but not even in this case did the use of the chi-square verified the impact of company age on the use of BSC. It was also tested whether the use of BSC in corporate practice improves the financial performance of companies. As financial performance indicators were selected return on equity and return on assets. The testing was carried out by using Wilcoxon test. Although enterprises using the BSC are reaching higher mean profitability, the differences in the achieved performance can not be due to the results considered significant. The results are consistent with the results achieved by Ittner et al. [22], and Griffith and Neely [15]. Different conclusions were then drawn by studies done by the following authors (Hoque and James, [16], Davis, Albright [8], Braam, Nijsen [6], Crabtree, DeBusk [7], DeGeuser, Mooraj, Oyon [9], which show that the concept of BSC use in the system for performance measurement and management is associated with higher performance. Using the Wilcoxon test, it was found that neither the level of satisfaction with the use of BSC has any effect on the financial performance of companies. There are specified benefits and limitations of this study in conclusion.
- ItemThe economics of being stupid: a note on (ir)rationality in economics(Technická Univerzita v Liberci, 2014-06-11) Šťastný, Dan; Ekonomická fakultaEconomists’ habit of imputing rational motives to all human behavior gives rise to ‘rational riddles’: rational explanations for seemingly irrational behavior. In the article I argue that economists’ solutions to these riddles are, despite their sophistication, of limited scientific value as they describe mechanisms that are never both new and correct: they may be empirically correct but not new as these mechanisms have been practiced (hence known) by some people before; or they are genuinely new (previously unknown to anybody), but empirically wrong as they fail to account for the real reasons of observed behavior. I further show that the hypothesized solutions to the riddles could be easily tested by consulting the people whose behavior is examined, and point to the strange lack of economistsefforts to do so. Finally I present results of a micro survey relating to one such rational riddle: ticket underpricing (why prices of tickets for various events do not adjust to eliminate the excess demand). By interviewing managers of theatres known to sell tickets at prices that create lines, I present some evidence showing that it is much easier to explain the observed behavior in terms of plain ignorance of some elementary economic principles or facts rather than in terms of some economic sophistication on the part of the managers. No interviewees, for example, explicitly related the existence of lines to ticket underpricing, and some actually denied any link there even if prompted. I conclude by pointing to the real cost to the economic profession stemming from its decision to ignore the possibility of irrationality in economistsresearch program.
- ItemMultidimensional credibility model and its application(Technická Univerzita v Liberci, 2014-06-11) Pacáková, Viera; Šoltés, Erik; Linda, Bohdan; Ekonomická fakultaSolvency II project places emphasis on the modelling and management of risks of the insurance companies. This requires further improvement in actuarial methods and their application in insurance practice. Improving the quality of premium calculation methods is an effective factor in reducing the insurance technical risk of an insurer. Presentation the methods of premium calculation and its permanent updating is the aim of this article. Credibility theory is an experience rating technique to determine premiums, claim frequencies or claim sizes. Credibility models are based on the realistic concept of a heterogeneous insurance portfolio. Therefore, two sources of information are used in the calculation of the credibility estimators for the individual risk: typically little knowledge about the individual risk and quite extensive statistical information about entire portfolio. The most important model in the credibility theory is Bühlmann-Straub model. This model has a wide range of possibilities to be used in praxis mainly in general insurance. Besides that this model is a basis for other more specific models such as hierarchical, multidimensional or regression credibility models. In this article we deal with generalisation of one-dimensional Bühlmann-Straub credibility model to the multidimensional credibility model. We mainly focus on estimation of so-called structural parameters and usage of SAS Enterprise Guide application when estimating. The multidimensional Bühlmann-Straub credibility model is applied based the real data in motor vehicle third party liability insurance.
- ItemRedevelopment potential of brownfields: A-B-C classification and its practical application(Technická Univerzita v Liberci, 2014-06-11) Doleželová, Lucie; Hadlač, Michal; Kadlecová, Milada; Polednik, Stanislav; Ekonomická fakultaBrownfields significantly influence the contemporary character of the majority of cities, towns and villages not only in the Czech Republic, but Europe wide. It is obvious that potential of individual brownfields to be redeveloped differs according to various factors. As a consequence of existence of thousands of brownfields classification of such sites has to be developed to enable their sorting and selecting for redevelopment. The majority of experts concerned with brownfields are familiar with the theoretical model of brownfield types A-B-C introduced by the Cabernet Project, funded by the European Union. This classification of brownfields according to their redevelopment potential could be applied in decision making on necessity of public funding for individual brownfields redevelopment projects. This proposal, however, has two caveats: The first one lies in the classification method used to sort brownfields into the individual categories. The second lies in applying the classification within the system of subvention programmes where regeneration has often different goals. This paper follows the theoretical debate on brownfields classification in its first part; the second part is devoted to analysis of the A-B-C model and its practical application on set of brownfields on the example of the South Moravian and Ústí Region (the Czech Republic). More than 20 various indicators were employed to evaluate redevelopment potential of studied brownfields
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