34,718 research outputs found
Equity Home Bias in the Czech Republic
No full textInvestors reveal a tendency to prefer domestic over foreign equities despite the financial losses. From institutional perspective the factors that cause home biasness are the barriers to entry the foreign markets, transaction costs, illiquidity, asymmetric information and information costs, corporate governance and inflation and exchange rate risks. Behavioral finance argues that irrationality of investors cause the home biasness. Investors tend to be under the influence of psychological biases: optimism, overconfidence, social identity, narrow framing and loss aversion. In this paper we introduce a model of optimal portfolio of Czech investors with three utility functions: Markowitz, exponential and CRRA. The prediction of the model without short selling suggests that Czech investors should have more than 60 % (between 72 - 83 % for feasible levels of risk aversion) in domestic equities. The OECD data claims that they hold around 87 % in domestic equities.Equity home bias, optimal investment portfolio, behavioral finance
Maria Bersani
No full textLa voce illustra la biografia e l'apporto letterario dato da Maria Bersani alla letteratura per l'infanziaThe headword explains the biography and the contribution of the author Maria Bersani to the children's literatur
Evaluation of data box introduction process in the Czech Republic
No full textOne of base building stones of eGovernment development in the Czech Republic is so called Data boxes which were introduced to unify communication and to increase efficiency in public administration. The aim of a study carried out by the Department of Information Technologies was to analyze the implementation procedure and to use data boxes. The questioning took place in December 2009, i.e. c.6 weeks after introduction of duty to use a data box. Obtained results are important above all because the development process of eGovernment still does not end. The suggestion from data box implementation can significantly facilitate introduction of basic registers and other applications.eGovernment, Data box, 300/2008 Col., 111/2009 Col., Basic registeres, Research and Development/Tech Change/Emerging Technologies, GA, IN,
Pedagogy and school of Maria Montessori in the Czech republic
No full textThis thesis "Pedagogy and Maria Montessori School in the Czech Republic" in the theoretical part describes the life of Maria Montessori, Montessori principles of education and development of Montessori schools with a focus on their development in the Czech Republic. The practical part deals with a case study of a Prague school with Montessori principles and a questionnaire survey with the headmaster of Montessori schools
Pedagogy and school of Maria Montessori in the Czech republic
No full textThis thesis "Pedagogy and Maria Montessori School in the Czech Republic" in the theoretical part describes the life of Maria Montessori, Montessori principles of education and development of Montessori schools with a focus on their development in the Czech Republic. The practical part deals with a case study of a Prague school with Montessori principles and a questionnaire survey with the headmaster of Montessori schools
Exchange rate regimes in the transition economies: Case study of the Czech Republic: 1990-1997
No full textIn this paper we re-examine the experience of the Czech Republic with the exchange rate regime during the period 1990-97. We review arguments for and against choosing a peg as they appeared in the early 1990s. Then, we evaluate the success of the peg in curbing inflationary pressures stemming from price liberalization. We also show some of its unpleasant consequences. In the second part of the paper we discuss the macroecononomic precedents which most likely led to the abandoning of the peg in May 1997. Finally, we present some thoughts on possible exchange rate developments, especially with respect to a potential future membership in the European Monetary Union. --
Variations on the Author
No full text“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Heterogeneity in Bank Pricing Policies: The Czech Evidence
No full textIn this paper, we estimate the interest rate pass-through from money market to bank interest rates using various heterogeneous panel cointegration techniques to address bank heterogeneity. Based on our micro-level data from the Czech Republic, the results indicate that the nature of interest rate pass-through differs across banks in the short term (rendering estimators that constrain coefficients across groups to be identical inconsistent) and becomes homogeneous across banks only in the long term, supporting the notion of the law of one price. Mortgage rates and firm rates typically adjust to money market changes, but often less than fully in the long run. Large corporate loans have a smaller mark-up than small loans. Consumer rates have a high mark-up and are not found to exhibit a cointegration relationship with money market rates. Next, we examine how bank characteristics determine the nature of interest rate pass-through in a cross-section of Czech banks. We find evidence for relationship lending, as banks with a stable pool of deposits smooth interest rates and require a higher spread as compensation. Large banks are not found to price their products less competitively. Greater credit risk increases vulnerability to money market shocks.Bank pricing policies, financial structure, monetary transmission.
Bank deposits of households during Covid-19 in the Visegrad countries
No full textThe purpose of the article/hypothesis: The main objective of the article is to examine the impact of the Covid-19 pandemic on the value of bank deposits of monetary financial institutions (MFIs) in the V4 countries, i.e. the Czech Republic, Poland, Slovakia and Hungary. The specific objective of this study is to investigate the situation in the market of bank deposits in the Visegrad Group countries during the Covid-19 pandemic. In relation to the adopted goals, the hypothesis was formulated that the Covid-19 pandemic determines the amount of money invested by households from bank deposits in the V4 group, but the determinants of this saving and the direction and strength of their impact are varied.Methodology: The achievement of the set objectives was based on theoretical studies and empirical research. In the theoretical studies a critical analysis of source literature was applied. Empirical research involved time series analysis and multiple linear regression analysis.Results of the research: The results of the study allowed for positive verification of the hypothesis, and the study objectives were achieved. It has been shown that changes in the number of Covid-19 cases, as well as changes in the number of deaths and the number of vaccinations performed for Covid-19 in individual V4 countries translate into the propensity or aversion to deposit money in bank financial institutions. This is confirmed primarily by regression analysis, but also by time series analysis
Angelo Maria Ripellino and Czech Culture. Letters and other exchanges
No full textThe aim of the paper is to reconstruct Angelo Maria Ripellino’s path as a scholar in the field of Czech literary historiography and criticism, focusing on the formation of his methodological approach as it is shown in the shaping and contents of his first book, the Storia della poesia ceca contemporanea (‘The history of contemporary Czech poetry’; 1950). While writing this monograph, Ripellino could rely not only on his own remarkable knowledge of Czech culture, but also on the mentorship of prominent Czech scholars (among them Karel Teige and Jindřich Chalupecký), as is documented in the recently edited private correspondence between the Italian scholar and Czech writers and artists. Moreover, thanks to further materials from Ripellino’s archive, it is possible to better grasp the scholar’s ‘avant-garde’ understanding of literature and the arts, and thus his approach to their study and description
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