The thesis "Over-Indebtedness in the Czech Republic: Problem Analysis and Policy Alternatives" deals with the issue of over-indebtedness of households with regards to consumer loans, specifically in the Czech Republic. Over-indebtedness is currently a very real and serious issue. The author attempts to tackle what is a relatively complex issue. The objective of the thesis is to demonstrate that over-indebtedness is a significant problem and analyse the myriad factors that contribute to it. Finally, possible solutions to the problem are explored. The author exhibits a variety of data to measure over-indebtedness in addition to determining the various causes, namely individual economic factors, such as sudden unemployment, and financial imprudence, which can be attributed to individual psychology or low financial literacy. Additionally, the unfair and even loan-sharking practices adopted by some loan providers and brokers along with the problematic process of debt enforcement, which contribute to over-indebtedness are described in detail. Based on the identified drivers, the thesis proposes specific tools to address the problem, with particular emphasis on regulating providers, and analyses their advantages and disadvantages. Further to the regulatory instruments, the thesis also stresses the need to...

The 2007-2008 US subprime mortgage crisis evolved into a financial crisis that negatively affected many economies in the world and therefore it was widely referred to as the global financial crisis. Since the beginning of this financial crisis of 2008-2009, South Africa experienced a significant increase in its household debt to income ratio. In the main, the aim of this dissertation is to investigate the prominent factors contributing to the rise in the level of household debt in South Africa. Also, we study the response of household debt to various shocks originating from the aforementioned crisis. Additionally, in the context of our timeline (1985 Q1-2012 Q1) we will extrapolate possible graphical trends in the rise and fall of household indebtedness in South Africa associated with various crises. Working from past research papers and a theoretical framework developed by Franco Modigliani and Milton Friedman, seven macroeconomic variables will be considered to examine the rise of household borrowing to income namely; the real house price index, consumer price index. real income, real prime rate, real household consumption expenditure, real gross domestic product and real household savings. Both a long-run cointegration analysis and a short-run error correction model will be used to evaluate the relationship between household debt and the chosen variables by estimating a Vector Error Correction Model. Furthermore, the Variance Decomposition and the Generalized Impulse Response Function will be utilized to assess the impact of household debt to various shocks emanating from the 2008-2009 financial crisis. The different models and tests conducted in this research will be executed using the statistical software package EVIEWS 7. Based on the results, household debt was seen to have been fairly affected by the 2008-2009 financial crisis. The cointegration analysis maintains that in the long run, household borrowing is positively and significantly determined by consumer price index and real household consumption. In addition, it confirms that household borrowing is negatively affected by real household income and real GOP. The rest of the variables were found insignificant. Nevertheless, the short run error correction model reveals that about 3.6% of the disequilibrium will be corrected each quarter for the equilibrium state to be restored. Also, the Variance Decomposition results confirmed that the South African household debt is mostly affected by shocks from real house price index, real household income, real household consumption and real household savings, respectively. Furthermore, the Generalized Impulse Response Function results established the significant positive response of household debt to a shock from real house price index and real household consumption. The response of debt to shocks from consumer price index, real household savings and real income is negative and this outcome is confirmed by the theory. However, the response of debt shows fluctuating behaviours to shocks from LRIN, LRPR and LRGDP over the estimated period. In conclusion, our econometric investigation highlighted the main causes of the high levels of household debt in South Africa both in the short and long run. The Generalized Impulse Response Functions confirm that shocks like the occurrence of the 2007-2008 financial crisis will have a significant impact on real house price index, consumer price index, real household consumption and real household savings. The Engle granger results show that there exist no significant relationship between household debt and unemployment in South Africa over the period 1980 to 2010. However, we propose that this result may have been significant if quarterly unemployment data was available and included in the main data set. Finally, based on the stability, validity and reliability of our model, we recommend its use to facilitate policy analysis and decision making regarding household debt levels in South Africa. / Thesis (M.Com.( Economics) North-West University, Mafikeng Campus, 2012

Gratitude and indebtedness are construed as separate constructs in recent research.It is hypothesized by this thesis that self-focused attention affects feelings of gratitude and indebtedness. Focusing less attention on the self, thus turning attention resources outward, may allow for the experience of gratitude, whereas focusing inward may create feelings of indebtedness. Two studies examined how focusing one's attention inward may be related to indebtedness, whereas being focused outward may be related to gratitude. A correlational study showed that people who self-focus tend to feel more indebtedness and less gratitude. An experiment was designed to show that manipulating social anxiety, a specific type of self-focused attention, would increase feelings of indebtedness and decrease feelings of gratitude. However, no significant differences of indebtedness or gratitude were found between the experimental condition and control condition.

The final thesis will tackle the issue of poverty inside the current czech society and how it is perceived by the students of several chosen high schools with an economic focus. The theoretical part of the thesis will describe the basic definitions and types of poverty, its causes, consequences and other indicators which are internationally comparable. It will focus on the Czech Republic and its current situation. Analyze the basic indicators that show how to describe poverty in the Czech Republic and what are the amounts set. How it defines help programmes for families and individuals paralized by poverty. The theoretical part will concern also non-profit organizations and their help in difficult life situations, international organizations and documents about poverty including the EU aswel as the iternational sphere. The practical part of the thesis will focus on students from economic schools (one is public, one is private; one in Prague one based in South Bohemia) where one can assume students have basic knowledge about financials and are able to evaluate the economical situation of the family. The aim of the thesis will be to determine the attitude of the students towards the points stated above and the output will be a understanding of the situation from the students' perspective, thei...

The subject of the thesis, the course of the budgetary process and economic analysis of Pelhřimov indebtedness of the town and the effect of this moment of crisis to profit center. On the basis of theoretical facts and practical findings was analyzed past financial management of the city in 2006 - 2009. The thesis concentrates especially on the most significant budget item, which means they come from and derive income. In the end was analysed financing of municipal budget, debt and built the financial outlook.

[pt] A pesquisa procura identificar influências temporais nas tomadas de decisão de consumidores de baixa renda, relacionadas ao endividamento. Inseridos em uma sociedade cuja cultura exalta o consumo como forma de ser e pertencer, os indivíduos dessas classes vivem hoje a oportunidade de possuir bens antes inacessíveis. O incentivo dado pelo crédito facilitado e por um ambiente macroeconômico favorável, onde juros e taxa de desemprego corroboram para a sensação de estabilidade, pode se mostrar uma armadilha para esse grupo de indivíduos, que querem consumir, mas dependem do crédito como forma de ampliar seu poder de compra. A pesquisa é de natureza qualitativa, baseando-se em entrevistas em profundidade. Baseada em narrativas individuais, revelam-se sonhos e aspirações de um grupo de 16 indivíduos e a necessidade de decidir pelo consumo imediato ou poupar para atingir seus objetivos. Apesar de, racionalmente, concordarem com a importância de se pensar e planejar o futuro, a experiência de vida própria, ou de familiares e amigos, testemunha contra qualquer previsibilidade e reforça o pensamento de que o futuro, a Deus pertence. / [en] The research seeks to identify temporal influences in decision making of low-income consumers, relating to indebtedness. Living in a society whose culture glorifies consumption as a way of being and belonging, those individuals have today the opportunity to buy goods previously inaccessible. The encouragement given by easy credit and a favorable macroeconomic environment, where interest and unemployment rates corroborate the sense of stability, may prove a trap for this group of individuals who want to consume, but depend on the credit as a way to expand your purchasing power. The research is qualitative in nature, based on in-depth interviews. Based on individual narratives that reveal the dreams and aspirations of a group of 16 individuals and their need to decide between immediate consumption or saving for achieving your goals. Although rationally agree on the importance of thinking and planning for the future, the experience of life itself, or from family and friends, witness against any predictability and reinforces the thought that the future belongs to God.

Nos últimos anos, houve um incremento no número de denúncias e constatações de trabalho escravo na zona rural brasileira, apesar da vigência de normas jurídicas destinadas a proteger o trabalhador contra esta forma de exploração. O endividamento e o uso da violência são os principais instrumentos utilizados para obstar a liberdade do trabalhador. A compreensão jurídica do tema, a partir das normas nacionais e internacionais, possibilita o desenvolvimento de ações institucionais mais eficientes destinadas à erradicação do trabalho escravo. A observância do paradigma do trabalho decente é que permitirá que o trabalhador rural desenvolva a sua atividade em condições dignas. / During the past few years, there has been an increase in the number of denunciations and evidence of slavery work in the Brazilian rural zone, despite the presence of juridical norms aiming to protect the worker against this form of exploration. Indebtedness and the use of violence are the main instruments used to hinder the workers liberty. The juridical understanding on the subject, based on national and international norms, makes it possible the development of more institutional and efficient actions aiming the eradication of slave labor. The observance of the paradigm of decent work will permit the rural worker to develop his/her activity under dignified conditions.

Made available in DSpace on 2015-03-05T19:14:42Z (GMT). No. of bitstreams: 0 Previous issue date: 31 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / Esta dissertação analisou a composição da variabilidade do endividamento das empresas. O objetivo foi identificar grupos de fatores que influenciam nessa dispersão e a importância relativa desta influência. Para tanto, o grau de endividamento foi mensurado utilizando-se 10 indicadores diferentes. Com base no banco de dados da empresa Economática®, o estudo foi feito sobre uma amostra internacional de 1.005 empresas localizadas em 7 países da América Latina e Estados Unidos, pertencentes a 21 setores de manufatura diferentes em um período de 1986 a 2006. O método de componentes de variância, normalmente utilizado em pesquisas na área agronômica, agropecuária e de genética, foi adotado para entender a composição dos graus de endividamento das empresas e para analisar a contribuição dos efeitos do País, do Setor, do Ano e da Empresa sobre esses indicadores de estrutura de capital. Adicionalmente, foram empregados procedimentos de comparações múltiplas através do uso do teste da diferença honestamente significa / This dissertation has analyzed the indebtedness variability composition of companies. The purpose was to identify factors affecting this dispersion and the relative importance of this influence. For such, the indebtedness degree was measured using ten different indicators. Based on the data base of the Economática® company, a study was conducted on a worldwide sample of 1,005 companies located in seven countries in Latin America and the United States, belonging to 21 different manufacturing sectors in a period from 1986 to 2006. The variance component method, normally used in researches in the agronomy, cattle-raising and genetic fields, was adopted to understand the composition of the companies’ indebtedness degrees and to analyze the contribution of the effects in the Country, Sector, Year and Firm on these capital structure indicators. Additionally, multiple comparison procedures were employed through the use of Tukey's honestly significant difference test for factors with fixed Country and Sector effe

Submitted by Maicon Juliano Schmidt (maicons) on 2015-06-16T17:27:39Z No. of bitstreams: 1 Roberto Tavares de Laforet Padilha.pdf: 601583 bytes, checksum: cc2dd58ff1eb4143113dfc818ed9c270 (MD5) / Made available in DSpace on 2015-06-16T17:27:39Z (GMT). No. of bitstreams: 1 Roberto Tavares de Laforet Padilha.pdf: 601583 bytes, checksum: cc2dd58ff1eb4143113dfc818ed9c270 (MD5) Previous issue date: 2015-02-27 / Nenhuma / Diversos estudos têm pesquisado sobre estrutura de capital e os fatores determinantes que influenciam no nível de endividamento das empresas. Variáveis internas das empresas como tamanho, rentabilidade, tangibilidade, risco, crescimento, liquidez e market to book value, assim como fatores externos como PIB, taxa de juros, taxa de câmbio, renda per capita, inflação e carga fiscal, foram estudadas por diversos autores como possíveis fatores determinantes da estrutura de capital. Todavia, pouco esses estudos conseguiram resultar em consenso pelos autores. Durand (1952) e Modigliani e Miller (1958, 1963) foram os pioneiros nas pesquisas sobre estrutura de capital das empresas. Assim, o objetivo deste estudo é investigar sobre a estrutura de capital e seus determinantes de empresas de cinco países latino-americanos, sendo eles Argentina, Brasil, Chile, Colômbia e México, assim como os analisar os impactos da crise Subprime de 2008 na forma como estas empresas captaram recursos, através de dívidas ou de capital próprio. Para isto, utiliza-se o modelo de regressão com dados em painel, onde foi incluído na equação dados de 231 empresas entre os anos de 2003 e 2013. No modelo estimou-se a equação utilizando estimativas com técnicas específicas de efeitos fixos e aleatórios para decisão do modelo de regressão, realizando testes de Hausman, Wald e do log verossimilhança para avaliar a consistência das variáveis incluídas no modelo. Os resultados encontrados neste estudo confirmam as relevâncias das variáveis tamanho, rentabilidade, tangibilidade, risco, liquidez, market to book value e impostos na determinação do grau de endividamento das empresas. / Several studies have investigated the capital structure and the determinants that influence the level of indebtedness of companies. Internal variables of companies such as size, profitability, leverage, risk, growth, liquidity and market to book, as well as external factors such as GDP, interest rate, exchange rate, per capita income, inflation and tax burden, have been studied by several authors as potential determinants of capital structure. These studies, however, have not resulted in consensus by the authors. Durand (1952) as well as Modigliani and Miller (1958, 1963) were pioneers doing research on companies' capital structure. The objective of this study is to investigate the capital structure and its determinants in companies located in five Latin American countries, namely Argentina, Brazil, Chile, Colombia and Mexico, as well as analyze the impact of the 2008 Subprime crisis in the way these companies raised funds, through debt or equity. For this purpose, it is used the regression model with panel data, which included in the equation data of 231 companies between the years 2003 and 2013. In the model estimated the equation using the estimates with specific techniques of fixed and random effects regression model decision, performing Hausman, Wald and log likelihood tests to evaluate the consistency of the variables included in the model. The results of this study confirm the relevance of variable size, profitability, leverage, risk, liquidity, market to book value and taxes in determining the degree of indebtedness of companies.

O avanço da globalização e o surgimento de novas tecnologias romperam as fronteiras do tempo e do espaço, abrindo novos horizontes para a sociedade da informação e do consumo. Esta sociedade propaga a necessidade do consumo como forma de garantir ao indivíduo inclusão, status ou posição social. Desde o Plano Real o consumo tem sido estimulado, fazendo parte da política econômica, e a ampliação da oferta de crédito vem sendo utilizada como medida para incentivar a aquisição de bens e serviços e, assim, elevar a produção, aquecendo a economia. Desta forma, tem-se, por um lado, o crédito representando um fator de inclusão dos indivíduos no mercado, e por outro, o endividamento, causado pelo consumo desenfreado, que acaba por excluir o indivíduo e sua família da sociedade de consumo. Diante deste cenário, foi observado o crescente índice de endividamento financeiro dos servidores da Universidade Federal do Rio Grande do Sul (UFRGS) nos últimos anos, e o objetivo deste trabalho foi analisar tal situação e avaliar a necessidade de implantação de um programa de educação financeira no âmbito da Universidade. Para tanto, apresentam-se conceitos básicos e definições relacionadas ao tema do endividamento; identificam-se e apresentam-se dados que caracterizem situações de endividamento financeiro dos servidores técnico-administrativos da UFRGS, analisando e levantando suas possíveis causas; e apresentam-se medidas de prevenção e tratamento para as situações de endividamento. / The headway of globalization and outbreak of new technologies burst the frontiers of time and space, opening new horizons for the society of information and consumption. This society spreads the necessity of consumption as a form of guaranteeing inclusion, status or social position to the indivudual. Since the Plano Real, consumption has been stimulated, being a part of economical politics, and the ampliation of credit offer has been used as a way of incentivating the acquisition of assets and services and, therefore, elevating the production, heating the economy. That way, there is, on one side, credit representing a factor of inclusion of individuals in the market, and, on the other, indebtedness, caused by unrestrained consumption, that ends up excluding the individual and their family from the society of consumption. Before this scenario, it was observed the crescent financial indebtedness rat of the servers from the Universidade Federal do Rio Grande do Sul (UFRGS) in the past years, and the objective of this paper was to analize such situation and evaluate the necessity of implanting a financial education program at the range of the University. For so, basic concepts and definitions related to the theme of indebtedness are presented; data that characterize situations of financial indebtedness of the technical-administrative servers are identified and presented, analizing and bringing up their possible causes; prevention and treatment procedures for indebtedness situations are presented.