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    Factors affecting sensitivity of commercial banks to bank run in the Visegrad Countries
    (Technical university of Liberec, Czech Republic, 2017-10-02) Klepková Vodová, Pavla; Stavárek, Daniel; Ekonomická fakulta
    While managing liquidity, each bank should be prepared also for unexpected and exceptional events, such as bank runs. The aim of this paper is therefore to determine the maximum volume of deposits that can be withdrawn from individual banks operating in the Visegrad countries and to identify the determinants of their sensitivity to a bank run. The data cover the period from 2000 to 2014. Although bank liquidity, measured by the liquid asset ratio, decreased in all countries during the analyzed period, the level of liquidity differs among countries. We have simulated a bank run as a sudden withdrawal of 20% of client deposits. The ability of individual banks to survive this crisis scenario significantly differs. Nevertheless, as Czech and Hungarian banks were more liquid, they are better prepared for a potential bank run than Polish and Slovak banks. After that, using the panel data regression analysis, we tested seven bank-specific factors and seven macroeconomic factors. The sensitivity of commercial banks from the Visegrad countries to a possible bank run is determined mainly by different aspects of bank liquidity (not only the level of bank liquidity, but also connection to bank lending activity, the way of its financing and also activity on the interbank market). Among the other bank specific factors, profitability, capital adequacy and size of the banks are relevant in some countries. When it comes to macroeconomic factors, interest rate and unemployment rate are important. However, we can conclude that the most important factor is the level of bank liquidity: banks with a sufficient buffer of liquid assets are safer than other banks, particular during periods of financial distress.
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    Effect of integration of green constructs and traditional constructs of brand on green purchase intention of customers
    (Technical university of Liberec, Czech Republic, 2017-10-02) Esmaeili, Ahmad; Sepahvand, Akbar; Rostamzadeh, Reza; Joksiene, Izolda; Antucheviciene, Jurgita; Ekonomická fakulta
    The urgent concerns for environmental issues and growing demand for green products have made companies pay much more attention to green marketing. Although, many companies invest in green marketing, but not all of them gain as much as they invest. Most of failures of investments in green marketing are rooted in the fact that customers doubt both the real green performance of these products and the real intention of companies regarding green products. This research, being quantitative in nature, attempts to investigate the impact of traditional branding constructs (perceived quality of the brand, credibility of the brand) and green branding constructs (perceived value of a green brand, the green brand image, and brand equity) on the green purchase intention of customers. The hypotheses have been developed in the form of a conceptual model to investigate the relationship of these constructs. The research focuses on consumers of certain liquid washing detergent products. All the data were collected using questionnaires and the analysis of the data was conducted utilizing LISREL 8 and SPSS 16. The results indicate that perceived brand quality has a positive impact on the perceived value of a green brand, brand credibility, and brand image. In addition, green brand value and green brand image have a positive impact on brand equity. This research can serve as validation of the constructs to fill the gap in the investigation of green brand dimensions. Further analysis shows that green brand equity has a meaningful impact on the green purchase intention of the customers, however the impact of brand credibility on brand equity has not been proved.
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    Healthcare systems and performance evaluation: comparison of performance indicators in v4 countries using models of composite indicators
    (Technical university of Liberec, Czech Republic, 2017-10-02) Hejduková, Pavlína; Kureková, Lucie; Ekonomická fakulta
    Healthcare systems play a very important role in society and their role is becoming increasingly important in regard to the phenomenon of population ageing. The issue of the performance of healthcare systems should be at the forefront in terms of the interest of academic research studies and discussions among the scientific community. The proper functioning of the healthcare system should also be a priority in regard to public policy. These facts should encourage governments to regularly evaluate the performance of their healthcare systems and create international comparisons. Many indicators are used to measure and evaluate performance of healthcare systems – e.g. those created by the WHO, Eurostat, or OECD Health Statistics and OECD Health Policy Studies. For our paper, data from the OECD Health Policy Studies was used as a primary source. V4 states were chosen for the evaluation of the performance of healthcare systems. The reasons for this are as follows: V4 countries are transitive economies of the CEE with a poorer state of health of their populations than in more developed countries of the OECD or EU; the given systems have long been underfinanced; and reforms are focused exclusively on economic goals and lack a broader concept in terms of long-term sustainability. For the purposes of this paper, a composite indicator of the performance of healthcare systems was designed and includes ten variables for the studied ten-year period. In order to establish a comparison of the performance of healthcare systems, three methods were used to model them: (i) using the area of a radar chart, (ii) determining performance based on order, and (iii) determining performance based on distance from the reference unit. These three methods for determining the performance of healthcare systems allow us to compare the performance of healthcare systems in V4 countries specifically. The goals of this paper are as follows: compare and evaluate the performance of healthcare systems among V4 countries using selected indicators from the field of healthcare and establish what position the Czech Republic’s healthcare system holds in comparison with other V4 countries.
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    Innovations among people. How positive relationships at work can trigger innovation creation
    (Technical university of Liberec, Czech Republic, 2017-10-02) Glińska-Neweś, Aldona; Sudolska, Agata; Karwacki, Arkadiusz; Górka, Joanna; Ekonomická fakulta
    Innovations are the essence of the successful organization. The process of their creation is strongly based on individual and team commitment to create improvements in every organizational area. This commitment is triggered by innovation climate including employee positive relationships (PRW) and supporting internal communication facets. The aim of the paper is to define causal relations among the aforementioned variables. We hypothesize that positive relationships at work are a prerequisite of the innovation creation process, i.e. they stimulate employee commitment to innovation creation regardless of the employee position in an organization as well as influence internal communication facets that support innovativeness. Notably, among internal communication elements we analyze open communication of both good and bad information and employee informal meetings. The analyses are based on the quantitative survey conducted on the sample of 200 Polish companies representing various sectors and selected from rankings of the most dynamically developing organizations in Central Europe. In each company we obtained information from a person involved in leading a team creating innovations, i.e. representing different functional departments. In the course of data analyses we used the hierarchical regression and the linear regression analysis. The results support the hypotheses of PRW key role in the innovativeness process, and the effect appeared to be linear. Specifically, positive relationships at work stimulate both employee individual commitment to innovations and internal communication supporting innovativeness. These findings contribute to the research stream connected with the Positive Organizational Scholarship umbrella concept. Practical implications of the survey point to the need of positive relationships at work stimulation in organizations.
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    The marketing-entrepreneurship paradox: A frequency-domain analysis
    (Technical university of Liberec, Czech Republic, 2017-10-02) Nikolić, Slavka T.; Gradojević, Nikola; Đaković, Vladimir; Mladenović, Valentina; Stanković, Jelena; Ekonomická fakulta
    The areas of overlap between the disciplines of marketing and entrepreneurship are substantial and they provide a wide variety of opportunities for multidisciplinary research. This paper lays out multidisciplinary foundations for the formal theoretical and practical treatment of the interaction between marketing, entrepreneurship and profitability in an organization. The focus of this research is on a company’s success as a function of organizational changes and the level of acceptable risk, measured by its profitability. The contribution to the literature on the relationship between entrepreneurship and marketing is reflected in a new approach that relies on the multi-scale (i.e., frequency-dependent) approach or the so-called “spiral of success”. In addition, this paper highlights the necessity for dynamic abilities and innovative character in an organization. More broadly, it explains an important theoretical paradox that organizations always face high risk, but, in order to survive in business, they need to enter new cycles of entrepreneurial activities (innovation and diversification) that involve even more risk. The novelty of this study lies in its application of the causality tests in the frequency domain for the bivariate system in order to demonstrate the marketing-entrepreneurship paradox. This is, to the authors’ best knowledge, the first paper that uses such a methodology in marketing and entrepreneurship. The paper’s principal hypothesis is tested on a well-diversified company (Amazon.com) where it is shown that marketing drives changes in net income at both medium and long horizons, but not vice-versa. The findings and related discussions can be useful to academics and practitioners, as well as to public policy-makers.