1 Název, abstrakt a klíčová slova v anglickém jazyce Classes of Shares in Limited Liability Companies Abstract The Business Corporations Act has brought a number of innovations to Czech company law and has also opened up questions that almost no-one raised while the previous legal regulation was effective. Although many institutes already existed under the Civil Code of 1964 and the Commercial Code, the practice did not use the possibilities provided by the old regulation. Indeed, even the legal doctrine did not address many issues. One of these institutes is the institute of classes of shares. The dissertation is devoted to the creation of different classes of shares. The main research methods used when drafting this dissertation were selective literature research and analytical method, including comparative analysis. The method of abstraction and synthesis of acquired pieces of knowledge was used for generalizing the conclusions of the research goal. As regards the interpretation methods, a grammatical, logical, systematic, historical, teleological and comparative interpretation was used. Especially German, but also Austrian and Swiss laws were taken into account in the comparison and Anglo-American law in the passage concerning preference shares. The main research goal of the thesis was to analyse the...

This diploma thesis deals with the influence of physical (in) activity on the health of an aging population using the data of the SHARE study. The first aim of the work was to find out which sociodemographic factors and health and lifestyle factors are related to the level of physical activity. Age and subjective health were found to be the most important factors related to the level of physical activity in the aging population. Another goal was to determine whether there is a relationship between the incidence of selected diseases (myocardial infarction, stroke, diabetes mellitus) and the level of physical activity. It has been shown that regular physical activity at least once a week reduces the risk of incidence of these diseases in an aging population. In the case of diabetes mellitus, even any physical activity reduces the risk of incidence of this disease. Key words: physical activity, health, ageing, SHARE data

Bankbranschen börjar bli mer dynamisk och digitaliserad, vilket har bidragit till att konsumenter lättare kan bli kund hos flera banker. Med 124 banker på marknaden börjar hårdare konkurrens bildas, och tidigare forskning visar på att en kreativ marknadsföring är ett bra sätt att differentiera sig, skapa förtroende och öka kundintentioner. Syftet med studien är att undersöka om en kreativ marknadsföring ökar konsumenters förtroende och kundintentioner i bankbranschen. För att besvara syftet skapades två banklogotyper av en fiktiv bank, en mer kreativ logotyp och en mer traditionell logotyp. Logotyperna lades sedan in i två enkäter, vilka skickades ut till två olika grupper av respondenter.  Studien har en abduktiv ansats och en kvantitativ metod. För att besvara syftet användes förtroende som mediator mellan marknadsföringssätt och kundintentioner (word of mouth, share of wallet och villighet att bli kund), och kön användes som en moderator mellan marknadsföringssätt och förtroende. Studien resulterade i att den mer traditionella logotypen, jämfört med den mer kreativa logotypen, ökade förtroendet till den fiktiva banken vilket i sin tur ledde till ökad kundintention. Modereringen med kön visade att det fanns signifikanta skillnader i män och kvinnors attityd till kreativiteten i logotypen. Män visade sig reagera mer negativt på den kreativa logotypen än kvinnor. Medieringsanalysen resulterade i en full mediering till word of mouth samt share of wallet, och i en partiell mediering till villighet att bli kund. Slutsatsen är att en mindre kreativ marknadsföring är att föredra i bankbranschen samt att förtroende är en viktig del i bankers framgång. / The banking industry is beginning to become more dynamic and digital, which has contributed to  consumers being able to become customers of several banks more easily. With 124 banks in the market, tougher competition is beginning to form, and previous research shows that creative marketing is a good way to differentiate, create trust, and increase customer intentions. The purpose of the study is to investigate whether creative marketing increases consumer confidence and customer intentions in the banking industry. To answer the purpose, two bank logos were created of a fictitious bank, a more creative logotype, and a more traditional logotype. The two logotypes were used in two different surveys, which were sent out to two different groups of respondents.  The study has an abductive approach and a quantitative method. To answer the purpose, trust was used as a mediator between the marketing method and consumer intentions (word of mouth, share of wallet, and willingness to become a customer), and gender was used as a moderator between the marketing method and trust. The study resulted in the more traditional logotype, compared to the more creative one, increased confidence in the fictitious bank, which led to increased consumer intention. The moderating analysis showed significant differences in men ́s and women ́s attitudes towards the level of creativity in the logotype. Men were found to react more negatively to the more creative logotype than women. The mediation analysis resulted in full mediation to word of mouth and share of wallet, and in a partial mediation to the willingness to become a customer. The conclusion is that less creative marketing is preferable in the banking industry and that trust is an important part of banks' success.

No / We develop a non-linear Markov error correction approach to examine the general co-integration relation between the H- and A-prices of cross-listed Chinese stock issuers across the period January 1999 to March 2009. We unravel three important dimensions of this relation. These pertain to (i) the long-run expectation of the H- (to A-price) discount; (ii) the level of short-run co-movement in prices; and (iii) the magnitude of error corrections. Findings point to significant improvements in all three areas. Policy and corporate governance change appears to be the principal force driving the efficiency gains. Weakening informational asymmetries underlie much of the change in the markets’ relative pricing. In contrast, sentiment effects strongly underpin the contemporaneous response and error correction adjustments. Finally, the escalating Global Financial Crisis of 2008 appears to have not only bolstered the A- and H-markets’ short-term pricing dynamic but also temporarily increased the long-term H-share discount.

The Master's thesis aims to describe regulation of transfer and passage of a business share under Czech law. Special attention is hereby paid to the relevant case law, especially to judicial decisions of the Supreme Court of the Czech Republic.

Over the last two decades, share repurchases have emerged as the dominant payout channel, offering a more flexible means of returning excess cash to investors. However, little is known about the costs associated with payout-related financial flexibility. Using a unique identification strategy, we document a significant cost. We find that actual repurchase investments underperform hypothetical investments that mechanically smooth repurchase dollars through time by approximately two percentage points per year on average. This cost of financial flexibility is correlated with earnings management, managerial entrenchment, and less institutional monitoring. (C) 2016 Elsevier B.V. All rights reserved.

Rising inequalities between and within income categories (especially labour and capital) haveemerged as an increasing concern particularly in the last two decades. One of the main reasons for this has been a sharp decline in the wage share in many countries. A declining wage share refers to a decrease in the size of the total wage bill relative to either national income or net value addition (NVA). India is an important example of this situation. Trends at the level of aggregate statistics show that the wage bill has not kept up with productivity increases. This has led to a sharp decline in the wage share, leaving researchers the task of explaining the causes (and consequences) of this decline. The research contributes towards this task by critically examining one of the main avenues ofresearch that has been used in order to explain the causes of a declining wage share in India. This refers to the hypothesis according to which this trend is the outcome of increased capital intensity of employment, or more generally labour-saving investments. The study examines the relevance of this hypothesis for dynamics taking place at a disaggregated level of analysis in Indian industrial manufacturing. In order to do this, three main questions are addressed. The first is whether a declining wage share is a necessary outcome of labour-saving investments in production, or whether other factors are also important in mediating this relationship. The second is the conditions affecting the degree to which a declining wage share also involves increased income inequalities within the labour income category, and in some cases, declining real incomes for workers. The third is the relevance of drawing upon a demand and supply framework for the treatment of the question of causality in the analysis. The study answers the questions by drawing on two very different case studies. The first is thePimpri Chinchwad Industrial Township (PCIT), located in the outskirts of Pune (State ofMaharashtra, western India). The production processes characterising many of the factoriesoperating in this area are capital intensive. The second is the art metalware industry in Moradabad (State of Uttar Pradesh, northern India). The production processes taking place in the majority of units in this area are labour-intensive. The findings suggest that the factors contributing to a declining wage share cannot be analysed without at the same time examining the distributional set-ups within which technological changes take place, and how these arrangements are changing. Firstly, many of the factors contributing towards a declining wage share are not directly caused by changes in technology, and hence skill requirements, in production. This includes the weakness (and further weakening) of the mechanisms linking wages to productivity at the firm and sectoral level. Secondly, a declining wage share also involves changing income inequalities within the labour income category. The sources of these inequalities are not only linked to differentials in skills. Thirdly, this is happening in the context of speedy changes in the economy, including changing needs. This makes the links between wages and productivity an important requirement for the labour income category to be able to benefit from increased productivity, not only as workers through the wage system, but also as consumers. Lastly, many of the variables that emerge as important in the analysis cannot be subsumed under a demand and supply framework. One of the implications for the treatment of the issue of causality is the need to move away from seeking causal links in the traditional ‘cause and effect’ framework, to questions about how certain trends come about. This also has consequences for the normative side of the debate.

Många mindre kommuner i Sverige minskar i befolkning. Detta är inte enbart en trend i Sverige utan det är en stor global trend. Gislaved som ligger i sydvästra Småland är en av alla kommuner som minskar i befolkning och som har drabbats av en allt högre arbetslöshet. Studiens mål är att hitta orsaken till hur och varför Gislaved minskar i befolkning. En annan del i studiens syfte är att hitta en lösning för hur kommunen kan förhindra den demografiska tillbakagången. Gislaved, som gränsar till nio kommuner, har i dagsläget problem att få ungdomar som flyttat från kommunen för studier och arbete att återvända. I jämförelse med grannkommunerna är Gislaved den kommun som har haft störst befolkningsminskning under 2000-talet. Detta beror på att Gislaved inte har tillräckligt många jobb att erbjuda och arbetslösheten stiger. Därmed tvingas kommunens invånare att flytta för att få en anställning i en annan kommun. Eftersom många mindre kommuner minskar i befolkning finns det flera olika strategier för hur den negativa trenden ska hindras. En strategi är tillväxtpolitik som fokuserar på tillväxt, befolkningsmässigt och ekonomiskt. Tillväxtpolitik bygger på att öka kommunens attraktivitet genom till exempel intressanta turistmål eller att kunna erbjuda jobb. En annan strategi är lokal anpassningspolitik som inte fokuserar på tillväxt utan handlar om att acceptera de nya förutsättningarna som en minskad befolkning innebär. Lokal anpassningspolitik används för att höja livskvaliteteten för de boende i kommunen genom till exempel samarbete med andra kommuner. För att analysera och granska arbetsmarknaden i Gislaveds kommun utfördes en shift-share-analys. Intervjuer med kommunalrådsordförande Niclas Palmgren (M), kommunalrådets viceordförande Margareta Lindgren (S) och Anders Ahlström, näringslivschef för Gislaved Näringsliv AB, har genomförts. Shift-share-analysen visade att Gislaved står sig starka gentemot resten av Sverige inom två arbetssektorer, Tillverknings- och utvinningsindustrin och Jordbruk, skogsbruk och fiske. Kommunen hade år 2010 jämfört med år 2001 9,8 % mindre anställda inom alla arbetssektorer, vilket motsvarar en minskning med 1563 anställda. I intervjuerna framkom det att den största anledningen till att kommunen minskar i befolkning beror på att de har svårt att locka tillbaka ungdomar som har flyttat från kommunen för arbete och studier på annan ort. Alla tre som intervjuades påpekade att iv bil- och järnvägarna hade en låg standard vilket de ansåg var ett problem för kommunen och dess företag eftersom det minskar möjligheterna för pendling. Goda möjligheter till pendling är viktigt för en kommun enligt tidigare studier. Av dessa anledningar bör kommunen satsa på lokal anpassningspolitik som leder till högre kvalitet i de kommunala verksamheterna för att medborgarna ska vara nöjda. De bör även satsa på att förbättra infrastrukturen som i längden kan generera fler jobb och en tillväxt, befolkningsmässigt och ekonomiskt.

在這篇論文裡，我們主要在利用值分佈理論來探討兩個半純函數共三個值的基本性質以及在不同條件下的唯一性。 / In this thesis, we study the properties of two non-constant meromorphic functions sharing three values, and the uniqueness theorems under various conditions.

This study focuses on the ten most valued groups on the Nasdaq Stockholm exchange and their reported results for the period of 2009-2015. The purpose of the study was to investigate correlation between reported results on different levels and the progress of the share prices. Using Pearson’s correlation coefficient I was able to compare operating profit, net result and other comprehensive income to one another. I found that operating profit and net result came very close to each other, whilst other comprehensive income fell behind.  As it seems, share prices are affected by a numerous of variables, not only by reported results and earnings.