The thesis provides a quantitative analysis of the Czech export with a further focus on the electrical engineering and on the electric motors and generators. The tool used for the analysis is the gravity model of the international trade, and the estimation method employed is the PPML estimator. The novelty of the research lies in a one country export analysis, and in a comparison of the export functions on three different aggregations and for two states (the Czech Republic and France). The panel data analysis of the period between 1995 and 2013 reveals that the Czech Republic was more export-driven than France, an unanticipated fact about a dissimilarity of the total and the machinery and transport equipment export functions of the Czech Republic, and a statistically nonsignificant influence of the euro on the Czech export. The one year analyses of 1995 and 2013 reveal an increasing importance of the distance and the partner's GDP on both countries' exports, and a nonimportance of the partner's EU membership and of the geographic location in the CEE on the Czech export. JEL Classification C13, C23, F10, F12, F14 Keywords determining factors of export, gravity models of trade, Czech Republic, electrical engineering Author's e-mail t.tachovska@seznam.cz Supervisor's e-mail benacekv@fsv.cuni.cz

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.

Submitted by Silvana Teresinha Dornelles Studzinski (sstudzinski) on 2016-06-10T17:05:47Z No. of bitstreams: 1 Juciléia Giacomin_.pdf: 816829 bytes, checksum: 8701b49509878a0033d027e1a6c99133 (MD5) / Made available in DSpace on 2016-06-10T17:05:47Z (GMT). No. of bitstreams: 1 Juciléia Giacomin_.pdf: 816829 bytes, checksum: 8701b49509878a0033d027e1a6c99133 (MD5) Previous issue date: 2016-03-02 / Nenhuma / Esta pesquisa teve como objetivo analisar as variáveis determinantes da divulgação voluntária de informações de caráter ambiental, de uma amostra de quarenta e sete companhias abertas listadas na BM&FBovespa e classificadas como de alto impacto ambiental, evidenciadas nos Relatórios de Sustentabilidade e Relatório da Administração, correspondentes ao exercício social de 2013. A pesquisa é aplicada quanto à sua natureza; quantitativa quanto à abordagem do problema; descritiva e explicativa quanto ao seu objetivo e documental quanto ao procedimento técnico utilizado. Na primeira parte da análise apresenta-se uma análise descritiva dos dados evidenciados pelas companhias, e na segunda parte, considerando os resultados de estudos precedentes e contribuições de especialistas, foram testadas onze variáveis consideradas como possíveis fatores determinantes desta divulgação, mediante a utilização de análise de regressão linear múltipla. O nível de divulgação voluntária ambiental foi mensurado por meio de uma métrica contendo oito categorias e trinta e oito subcategorias, sugerida em estudo realizado por Rover (2009). Os principais resultados obtidos no estudo indicam que a maioria das evidenciações foi de tipo declarativa e as categorias mais evidenciadas pelas companhias se referiam aos impactos dos produtos e processos e às políticas ambientais. Tamanho da companhia, certificação ambiental e controle acionário foram confirmados como variáveis determinantes do nível de divulgação voluntária ambiental das companhias da amostra. / This study aimed to analyse the determinants of voluntary disclosure of environmental character information, a sample of forty-seven public companies listed on the BM & FBovespa and classified as high environmental impact, evidenced in Sustainability Reports and Management Report corresponding to fiscal year 2013. The research is applied as to its nature; quantitatively and the approach to the problem; descriptive and explanatory as to their purpose and documentary about the technical procedure used. In the first part of the analysis it is presented a descriptive analysis of data disclosed by companies, and in the second part, considering the results of previous studies and contributions from experts, eleven variables were tested and considered as possible determinants of this disclosure, through the use of multiple linear regression analysis. The level of environmental voluntary disclosure was measured by a metric containing eight categories and thirty-eight subcategories, suggested in a study conducted by Rover (2009). The main results of the study indicate that most disclosures were of the declarative type and categories more evidenced by the companies referred to the impact of products and processes and environmental policies. Size of the company, environmental certification and controlling interest were confirmed as determinants of the environmental voluntary disclosure level of the sample companies.

農地價格反應市場供需平衡的結果，亦可透過眾多影響農地價格的因素以觀察市場情形。歸納國內過去關於研究臺灣農地價格的文獻，較少探討法拍市場農地價格，而研究時間點大多位在民國89年農地市場開放前，且鮮少使用政策面的變數。因此本研究探討影響農地法拍價格的因素，並納入農業用地興建農舍最小基地面積限制作為研究變數，以觀察政策管制對於農地法拍價格的影響。進而將樣本分為都市型與農業型鄉鎮，比較影響農地價格各因素在不同型態鄉鎮間之差異。 本研究以法拍市場中民國89至99年間全臺灣已拍定之非都市農地作為研究樣本，透過線性迴歸模型，探討各因素對拍定價格的影響，以及檢視最小基地面積的政策因素對拍定價格影響。由迴歸結果可觀察到在法拍市場中，拍賣底價為迴歸式中較重要因素，而農地產值與農地經營環境對農地拍定價格並無影響，面積限制的政策變數產生了邊際價值，且都市型鄉鎮的邊際價值高於農業型鄉鎮，顯示購買農地欲興建農舍者可能對都市型鄉鎮農地有較高的需求，且都市型鄉鎮中的農地價格受非農用的影響較大。 基於上述，本研究研究結論有下列三點：一、農業生產條件並非農地價格主要影響因素。二、興建農舍最小基地面積限制對農地價格產生正向影響。三、都市型鄉鎮之農地價格受非農用的影響較大 / Farmland price in the market reflects the interaction of supply and demand. We can also observe the market situation through many factors which affect the farmland price. Review of past literature about farmland price in Taiwan suggests that there are few literature addressing the price of foreclosed farmland. Most of the researches were published before the farmland market opened in year 2000 and rarely took account of the policy variables. So this study will discuss the determining factors of farmland price in the foreclosed market, with special attention paid to farmland policy-related variables. The sample is further divided into two groups of urban and agricultural towns in order to compare the differences of the factors affecting farmland price between two groups of towns. In this study, we use the foreclosed farmland of non-urban area from 2000 to 2009 as research sample. Effects of potential price-affecting variables are examined using a linear regression model. The regression results indicate that the auction reserve price is the more important factor, and farming production value and management environment do not affect the price. Minimum lot size for farmhouse construction has a marginal value effect, and its magnitude is larger in urban towns. Additionally, the farmland prices in urban towns are greatly influenced by non-agricultural use. Three research findings are thus arrived based upon our empirical evidence: 1. Agricultural-related variables do not significantly affect farmland price. 2. The minimum lot size of farmhouse has raised the farmland price. 3. The farmland prices in urban towns are greatly influenced by non-agricultural use.

Naujoji švietimo vadyba grįsta keturiomis vadybos funkcijomis ir orientuota į sistemingą švietimo sistemos bei atskiros švietimo organizacijos tikslų siekimą. Tyrimo objektas - mokinių adaptacija pagrindinėje mokykloje bei sėkmingą mokymąsi sąlygojantys veiksniai. Darbo tikslas - ištirti mokinių adaptaciją pagrindinėje mokykloje bei nustatyti sėkmingą mokymąsi sąlygojančius veiksnius. Taikomi tyrimo metodai: literatūros analizė ir sintezė; interpretavimas; apibendrinimas; interviu; anketinė apklausa; statistiniai skaičiavimai. Tyrimo imtis. Kokybinis tyrimas (interviu) buvo vykdomas su penkiais iš aštuonių auklėtojų. Darbą sudaro: Darbą sudaro trys pagrindinės dalys: teorinė, metodologinė, analitinė. Teorinėje dalyje pateikiama adaptacijos proceso koncepcija, analizuojama mokinių adaptacijos mokykloje problema, pristatomi sėkmingą mokymąsi sąlygojantys veiksniai ir mokyklos kaip organizacijos specifiškumas ir valdymo ypatumai, atsižvelgiant į švietimo vadybos standartus. Metodologinėje darbo dalyje pristatoma tyrimo programa. Analitinėje darbo dalyje analizuojami kokybinio bei kiekybinio tyrimo duomenys, interpretuojami. / New education management is founded on four management functions and is orientated to the systematic education system‘s and separate organization‘s goals. Study object – the determining factors of the students‘ adaptation and successful learning in the secondary school. Aim of the work - to analyse students‘ adaptation in the secondary school and to identify the causing factors of successful learning. Study methods applied: the analysis and synthesis of the literature; interpretation, generalisation; interview, questionary, statistical calculations.The sample of the survey. The work contains three basic parts: academic, methodological, analytical. Academic part introduces a concept of adaptation process, the problem of students‘ adaptation is analysed, the factors causing successful learning are presented, as well as the specifics of the school as an organization and peculiarity of management in the context of education management standarts. In the methodological part the program of the survey is introduced. Data of a qualitative and quantitative survey is analysed and interpretated.

Sportinės veiklos motyvacijos tyrimų problema yra visuomet aktuali, kaip ir aktuali pati kūno kultūra visuomenės sveikatos politikos kontekste. Žmogaus evoliucijos pagrindas — mokymasis stebint kitų individų patirtį, papildant ją savąja. Todėl tėvų pavyzdys yra bendroji auklėjimo veiksmingumo sąlyga. Tai, jog moters požiūris į kūno kultūrą ir gebėjimai gali daryti įtaką ne tik vaiko vertybėms, bet ir būsimų kartų sveikatai, paskatino analizuoti moterų motyvaciją fiziniam aktyvumui lemiančius veiksnius ir jų raišką. Tyrimo objektas – moterų motyvaciją fiziniam aktyvumui lemiantys veiksniai. Tyrimo tikslas – ištirti moterų motyvaciją fiziniam aktyvumui lemiančių veiksnių raišką. Tyrimo metodologija. Holistinio sveikatos ugdymo, bei humanistinės psichologijos ir pedagogikos nuostatos, motyvacijos teorija, fenomenologijos teorija. Tyrimo metodai: literatūros analizė, interviu, anketinė apklausa, matematinė statistika. Tyrimo imtis ir organizavimas. Interviu - Dianos sporto klube sportuojančios moterys (N=10). Anketinė apklausa, naudojant sportavimo/fizinio aktyvumo motyvų aprašą (Markland, Ingledew, 1997) - sportuojančios, nebesportuojančios ir nesportuojančios Lietuvos moterys (N=340). Tyrimo metu iškelta hipotezė visiškai pasitvirtino. Nustatyta jausmo patiriamo sportuojant esminė reikšmė moterų motyvacijai fiziniam aktyvumui. 1. Kokybinio tyrimo išvados: 1.1 Pradedant sportuoti pagrindinis motyvas yra svorio kontrolė. 40 proc. respondenčių nenorėjo sportuoti, bet... [toliau žr. visą tekstą] / The sports activities motivation research topic is always urgent as is the body culture in the context of public health policy. Human evolution is based upon learning while observing other individuals’ experience and sharing with one’s own. So, parental example is the general nurturing efficiency precondition. The fact that woman’s attitude towards body culture and skills can influence both valuables of a child and health of entire future generations, stimulated to analyse the factors predetermining women’s motivation factors towards physical activity and their expression. Subject of research: the factors predetermining women’s motivation towards physical activity. Aim of the study: to analyse expression of the factors predetermining women’s motivation towards physical activity. Methodology of the study. Holistic health education and humanist psychology and pedagogy provisions, motivation theory, phenomenology theory. Methods of research: literature analysis, interview, questioning survey, mathematical statistics. Survey sample and organization. Interview: women fond of sports in Diana Sports Club (N=10). Questioning survey, using sports/physical activities motives description (Markland, Ingledew, 1997): Lithuanian women, engaged, no longer engaged and not engaged in sports (N=340). The hypothesis set was fully confirmed. Significance of the feeling experienced while sporting for women’s motivation for physical activities was established. 1. Qualitative research findings:... [to full text]

There are different ways in how to assess a value to a property and which assessment technique that is used differs due to circumstances in each country, leading to different views of what is the best and most effective way. At the moment Botswana is suffering from obsolete valuation rolls and is in the position where the system could benefit of a reform. The overall purpose with this study is to gain knowledge about how Botswana and Sweden differ in terms of property tax assessment. By clarifying the similarities and differences between how values are allocated and by determining the most value-influencing factors in Botswana, improvements of the system could be suggested. The research methods that were used to fulfil the study consisted of a review of relevant literature together with a case study performed in Gaborone. The case study contained semi-structured interviews with applicable staff and questionnaires responded by twelve valuers. The findings of this study show that there are similarities between the countries way of assessing properties since they both base their values on market value, use comparable sales method and assess both land and buildings. However, there are also differences in terms of the approach of assessment. The main difference is that Botswana applies an individual assessment method and Sweden mass appraisal. Other differences are the ones responsible for performing the assessment, and the structure of the assessment in terms of collecting data and the periods of assessment. Furthermore, the results from the questionnaires demonstrated that the most value-influencing factors for residential properties in Botswana are water, electricity and site amenities. The main conclusions drawn from this study is that Botswana could benefit from a movement towards mass appraisal and apply parts of the Swedish system. To make this possible to implement our recommendations are; to change the mindset of the stakeholders, increase awareness among property owners, base the valuation on a few important factors and computerize the cadastral register. A future research topic could be to investigate how a mass appraisal could be implemented as a step-by-step process. / Det finns olika sätt att bedöma ett värde på en fastighet och de bedömningstekniker som används varierar beroende på varje lands förutsättningar, vilket leder till olika uppfattningar om vad som är det bästa och mest effektiva sättet att värdera på. Botswana lider för närvarande av föråldrade taxeringsvärden och systemet skulle gynnas av en reform. Det huvudsakliga syftet med denna studie är att utveckla kunskap om hur fastighetstaxeringen i Botswana och Sverige skiljer sig åt. Genom att tydliggöra likheter och skillnader i hur fastigheterna i länderna tilldelas ett taxeringsvärde och genom att klarlägga de mest värdepåverkande faktorerna för fastigheterna i Botswana, kunde förbättringar av det botswanska systemet föreslås. För att genomföra studien utfördes en litteraturstudie baserad på relevant litteratur samt en fallstudie i Gaborone, som är huvudstaden i Botswana. Fallstudien innehöll dels semistrukturerade intervjuer med affärsmän inom området samt enkäter som besvarades av tolv värderingsmän. Resultaten av denna studie visar att den främsta likheten mellan länderna är att fastighetstaxeringsvärdet baseras på marknadsvärdet, detta är i sin tur baserat på ortsprismetoden och både mark och byggnader värderas. De skillnader som visade sig rörde tillvägagångssättet för bedömningen. Den största skillnaden är att Botswana tillämpar en individuell värdering och Sverige massvärdering. Andra skillnader som visade sig var bland annat vem det är som utför värderingen, hanteringen av insamlad data samt när värderingarna äger rum. Vidare visar resultaten från enkäterna att de mest värdepåverkande faktorerna för småhus i Botswana är vatten, el och tillgång till service. Slutsatsen av denna studie blev att Botswana skulle kunna gynnas av att implementera delar av det svenska fastighetstaxeringssystemet och i och med det gå mer mot massvärdering. För att kunna göra detta genomförbart är våra rekommendationer; att ändra tänkesätten hos de berörda parterna, öka medvetenheten bland fastighetsägare, basera värderingen på färre faktorer och datorisera fastighetsregistret. Ett framtida område för forskning skulle kunna vara att undersöka hur en massvärdering skulle kunna implementeras steg för steg.

The real estate market in Sweden has been subject to substantial increases in prices over a significantly long period of time. This paper means to to delve deeper in light of this, and further examine the price development for single family houses during the period between 2006-2020 in Staffanstorp municipality. The purpose of this study is to determine whether the independent variables population density, real mortgage interest rate, real disposable income, unemployment rate, level of education and rate of construction have any significant price-determining effects on single family houses in the chosen area.  The goal of this study will be answered by applying a quantitative method with a deductive perspective. The paper consists of data from 21 different Swedish municipalities over a period spanning 14 years with a number of observations totalling to 315. The data material is balanced and complete with no statistical losses during the entirety of the examined period. The study also relies on support from a variety of different previous studies throughout the majority of the paper. The authors review the empirical results by applying a econometric multiple regression analysis with one-way-fixed effect panel data and thereafter come to the conclusion that real mortgage interest rates, real disposable income and unemployment rates are the most statistically significant variables thus making them the primary price-determining factors for single family houses in Staffanstorp municipality.  In addition, this paper seeks to contribute to an increased understanding between a select few econometric factors and their price-determining effects on the real estate market in Sweden and more particularly, the real estate market in Staffanstorp municipality during the period of 2006-2020.

Made available in DSpace on 2015-03-05T19:13:44Z (GMT). No. of bitstreams: 0 Previous issue date: 18 / Nenhuma / O objetivo deste estudo foi identificar possíveis determinantes do custo de capital implícito nas empresas brasileiras de capital aberto, no período de 2001 a 2005. Primeiramente foi calculado o custo de capital implícito para cada empresa da amostra, procedendo-se após esta etapa, à escolha e à verificação dos possíveis determinantes (características de empresas) com poder de explicar esse custo de capital implícito. Define-se por custo de capital implícito, a taxa de retorno que faz os fluxos de caixas projetados igual ao valor corrente da ação. Para este cálculo foi utilizado o modelo de avaliação pelo lucro residual, também conhecido como modelo de Edwards-Bell-Ohlson (EBO) e a previsão dos lucros fornecida pelos analistas de mercado (I/B/E/S) como forma de estimar os fluxos de caixa projetados. Os determinantes constituem-se nas variáveis indicadas pela literatura financeira e que demonstraram relação explicativa com o custo de capital ou o retorno das ações. Foram selecionadas 15 variáveis, dividas em c / The purpose of this study was to identify the possible determining factors of the implied cost of capital in Brazilian listed companies from 2001-2005. First, the implied cost of capital for each company within the sample was calculated, after which the possible determining factors (company characteristics) with the predicting power to explain this implied cost of capital were selected. The implied cost of capital is defined as a return rate that makes discounted cash flow equal to the stock current value. For this calculation, the residual income model was used, also known as Edwards-Bell-Ohlson (EBO) model along with the earnings forecast given by market analysts (I/B/E/S) as a way to estimate the discounted cash flow. The determining factors are variables indicated by financial literature and demonstrate the explainable relationship with capital cost or the stocks return. Fifteen (15) variables were selected and then divided into five groups: volatility, leverage, information environment, earnings variabil

Sverige har under Covid-19 pandemin upplevt stora prisökning på bostadsrätter. Detta har skett till följd av förändring i vårt boende, då många har arbetat hemifrån och haft sina sociala liv förändrat av restriktionerna. därmed har folk spenderat mer tid hemma och samtidigt haft mer av sin budget att spendera på boende. Samt så har under denna period amorteringskravet slopats medans reporäntan varit vid noll.  Under dessa omständigheter har de faktorer som bestämmer värdet på våra bostäder förändrats. Denna studie menar att besvara dessa frågan om hur faktorerna för bostadspris har förändrats under pandemin, och vad det kan leda till i framtiden. Detta ska ske genom att intervjua mäklare om vad det har observerat och tror kommer hända framöver. I studien har intervjuerna analyserats och jämförts. Det kommer fram mixade åsikter och anmärkningar från mäklare. Efter att filtrerat bort det som kan vara lokala fenomen kan den troliga slutsatsen och prognosen för framtiden presenteras.  Arbetet kommer fram till att vi troligen kommer bevitta en avsäljning av bostadsrätter köpta under pandemin, då det var köpta med skenet av stora budgetar och låga avbetalningar. Dock kommer antagligen efterfrågan av större bostäder utanför Stockholms innerstad fortsätta att vara aktuellt för barnfamiljer. Då detta har varit mycket positivt i koppling till arbete på distans, som antagligen kommer fortsätta i större utsträckning i mixad form. Detta kan leda till bredare nyproduktion av större bostadsrätter i småstäder runt om Stockholms län. Samt kan även designen på lägenheterna komma att förändras då det blivit mer attraktivt med arbetsrum. / Sweden have during the Covid-19 pandemic experienced large increases in condominium prices. This has happened as a result of the change in our housing, as many have worked from home and had their social lives changed by the restrictions. Thus people have spent more time at home and at the same time had more of their budget to spend on living arrangements. During this period, the amortization requirement has been temporarily abolished while the repo rate has been around zero. During these circumstances, the factors that determine the value of our properties have changed. This study aims to answer the questions about how the factors of housing prices have changed during the pandemic, and what it may lead to in the future. This will be done by interviewing brokers about what they have observed and believe will happen in the future. In the study, the interviews were analyzed and compared. There are mixed opinions and remarks. After filtering out what may be local phenomena, a probable conclusion and forecast for the future can be presented. The work comes to the conclusion that we will probably witness a sale of condominiums bought during the pandemic, as it was bought with the temporarily larger budgets and low installments. However, the demand for larger homes outside Stockholm's inner city will probably continue to be relevant for families with children. As this has been very positive in connection with distance work, which will probably continue to a greater extent in mixed form. This can lead to broader new production of larger condominiums in small towns around Stockholm County. And the design of the apartments may also change as it becomes more attractive for workrooms.