Impacts of selected NACE industries´ foreign ownership on the czech economy

DSpace Repository

Show simple item record

dc.contributor.author Roubíčková, Michaela
dc.contributor.author Heryán, Tomáš
dc.contributor.other Ekonomická fakulta cs
dc.date.accessioned 2014-12-03
dc.date.available 2014-12-03
dc.identifier.issn 12123609
dc.identifier.uri https://dspace.tul.cz/handle/15240/7134
dc.description.abstract 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. en
dc.format text
dc.format.extent 58-69 s. cs
dc.language.iso en
dc.publisher Technická Univerzita v Liberci cs
dc.publisher Technical university of Liberec, Czech Republic en
dc.relation.ispartof Ekonomie a Management cs
dc.relation.ispartof Economics and Management en
dc.relation.isbasedon ARNDT, C. and MATTES, A. The Impact of Inward FDI and Foreign Ownership on the. Performance of German Multinational Firms [online]. Graz: Karl Franzens Universität, 2008 [cit. 2013-01-02]. Available from: http://www.uni-graz.at/socialpolitik/papers/Mattes.pdf.
dc.relation.isbasedon DEMEL, J. and POTUŽÁKOVÁ, Z. FDI and the Liberec Region: The case of the labour market. E+M Ekonomie a Management. 2012, Vol. 15, Iss. 4, pp. 4-18. ISSN 1212-3609.
dc.relation.isbasedon DESAI, M.A., FOLEY, C.F. and HINES, J.R. Foreign Direct Investment and the Domestic Economic Activity. NBER Working paper [online]. Cambridge (MA), 2007. No. 11717. [cit. 2013-02-02]. Available from: http://www.nber.org/papers/w11717.pdf?new_window=1.
dc.relation.isbasedon DOMS, M.E. and JENSEN, J.B. Comparing Wages, Skills, and Productivity between Domestically and Foreign Owned Manufacturing Establishments in the United States. In: BALDWIN, R., LIPSEY, R. and RICHARDSON, J.D. (Eds.). Geography and Ownership as Bases for Economic Accounting. Chicago: Chicago Press, 1998. ISBN 9-780-2260-365-40.
dc.relation.isbasedon DWORIN, L. Transfer pricing issues. National Tax Journal. 1990, Vol. 43, Iss. 3, pp. 285-291. ISSN 0028-0283.
dc.relation.isbasedon GALLOVÁ, Z. Foreign Direct Investment in Selected Countries of Balkan and in the Visegrad Group Countries: Does it Crowd out or Crowd in Domestic Investment? In: STAVÁREK, D., VODOVÁ, P. (Eds.) Proceedings of 13th International Conference on Finance and Banking. Karviná: Silesian University, School of Business Administration, 2012. s. 90-97. ISBN 978-80-7248-753-0.
dc.relation.isbasedon GELÜBCKE, J. and ANNEX, W. Foreign Ownership and Firm Performance in German Services: First Evidence based on Official Statistics [online]. Lueneburg: Leuphana University Lueneburg, 2011. [cit. 2013-01-02]. Available from: http://204.3.197.155/ETSG2011/Papers/Geluebcke.pdf.
dc.relation.isbasedon GRUBERT, H., GOODSPEED, T. and SWENSON, D. Explaining the low taxable income of foreign-controlled companies in the United States. Studies in international taxation. Chicago: University of Chicago Press, 1993. pp. 237-275. ISBN 0-226-29701-2.
dc.relation.isbasedon HANOUSEK, J., KOČENDA, E. and MAŠIKA, M. Firm efficiency: Domestic owners, coalitions, and FDI. Economic Systems. 2012, Vol. 36, Iss. 4, pp. 471-486. ISSN 0939-3625.
dc.relation.isbasedon HANOUSEK, J., KOČENDA, E. and ŠVEJNAR, J. Origin and Concentration: Corporate Ownership, Control and Performance. CERGE WP [online]. Prague: CERGE-EI, 2005 [cit. 2013-03-15]. Available from: http://www.cerge-ei.cz/pdf/wp/Wp259.pdf. ISSN 1211-3298.
dc.relation.isbasedon HE, W., LI, D., SHEN, J., and ZHANG, B. Large foreign ownership and stock price informativeness around the world. Journal of International Money and Finance. 2013, Vol. 36, pp. 211-230. ISSN 0261-5606.
dc.relation.isbasedon JAROLÍM, M. Foreign Direct Investment and Productivity of Firms. Czech Journal of Economics and Finance. 2000, Vol. 50, Iss. 9, pp. 478-487. ISSN 0015-1920.
dc.relation.isbasedon JURAJDA, Š. and STANČÍK, J. Foreign Ownership and Corporate Performance: The Czech Republic at EU Entry. CERGE WP [online]. Prague: CERGE-EI, 2009 [cit. 2013-03-15]. Available from: http://www.cerge-ei.cz/pdf/wp/Wp389.pdf. ISSN 1211-3298.
dc.relation.isbasedon MIN, B.S. and SMYTH, R. Corporate governance, globalization and firm productivity. Journal of World Business. 2014, Vol. 49, Iss. 3, pp. 372-385. ISSN 1090-9516.
dc.relation.isbasedon Přímé zahraniční investice za rok 2009 [online]. Praha: Czech national bank, c2010 [cit. 2012-02-22]. Available from: http://www.cnb.cz/miranda2/export/sites/ www.cnb.cz/cs/statistika/platebni_bilanc/stat/publikace_pb/pzi/PZI_2009_CZ.pdf.
dc.relation.isbasedon ROUBÍČKOVÁ, M. Vliv corporate governance na dividendovou politiku akciových společností v České republice [Chap. 3]. In: RŮČKOVÁ, P. Corporate governance v České republice. 1st ed. Praha: Professional Publishing, 2008. pp. 73-100. ISBN 978-80-86946-0.
dc.relation.isbasedon ROUBÍČKOVÁ, M. Vliv institucionálního sektoru na vývoj vybraných ukazatelů. Scientific Papers of the University of Pardubice. 2012, Vol. 25, Iss. 2, pp. 147-156. ISSN 1211-555X.
dc.relation.isbasedon SAKAKIBARA, M. and YAMAWAKI, H. What Determines the Profitability of Foreign Direct Investment? A Subsidiary-Level Analysis of Japanese Multinationals [online]. Claremont: Claremont Graduate University, 2005 [cit. 2013-01-02]. Available from: http://www.cgu.edu/PDFFiles/Faculty/Yamawaki/Profit%2012-14-05.pdf.
dc.relation.isbasedon SPĚVÁČEK, V. Sektorová analýza vývoje české ekonomiky. WORKING PAPER č. 16/2010 [online]. Praha: Centrum výzkumu konkurenční schopnosti české ekonomiky, 2010 [cit. 2012-03-23]. Available from: https://is.muni.cz/do/econ/soubory/oddeleni/centrum/papers/16Spevacek.pdf?fakulta=1456. ISSN 1801-4496.
dc.relation.isbasedon SZANYI, M. Foreign Direct Investments in Small Business in Transition Economies [online]. Warsaw: Central European University, 1998 [cit. 2013-03-15]. Available from: http://www.isn.ethz.ch/isn/Digital-Library/Publications/Detail/?ots591=0c54e3b3-1e9c-be1e-2c24-a6a8c7060233&lng=en&id=128892. ISBN 83-7178-087-7.
dc.relation.isbasedon SZAROWSKÁ, I. Jak vysoké je daňové zatížení? Acta academica karviniensia. 2011, No. 2, pp. 196-207. ISSN 1212-415X.
dc.relation.isbasedon VARUM, C.A. and ROCHA, V.C.B. Do foreign and domestic firms behave any different during economic slowdowns? International Business Review. 2011, Vol. 20, Iss. 1, pp. 48-59. ISSN 0969-5931.
dc.rights CC BY-NC
dc.subject profit en
dc.subject spruce en
dc.subject beech en
dc.subject profitability en
dc.subject cost en
dc.subject revenues en
dc.subject.classification G34
dc.subject.classification M12
dc.title Impacts of selected NACE industries´ foreign ownership on the czech economy en
dc.type Article en
dc.date.defense 2014-12-02
dc.publisher.abbreviation TUL
dc.relation.isrefereed true
dc.identifier.doi 10.15240/tul/001/2014-4-005
dc.identifier.eissn 2336-5604
local.relation.volume 17
local.relation.issue 4
local.relation.abbreviation E&M en
local.relation.abbreviation E+M cs
local.faculty Faculty of Economics
local.citation.spage 58
local.citation.epage 69
local.access open
local.fulltext yes


Files in this item

This item appears in the following Collection(s)

Show simple item record

Search DSpace

Advanced Search

Browse

My Account