This thesis deals with a financial restructuring of the construction company. On the concrete company it is shown how the financial restructuring can help to improve the financial health of this company and so its competitiveness, which is, considering the current situation on the construction market, absolutely crucial. Using the methods of financial analysis the current state of financial health and financial management is evaluated. Based on these results some corrective actions within the financial restructuring are proposed. The efficiency of these actions is in the end verified again using the financial analysis.

This master thesis deals with budget economy of municipality Hovorany in the years 2009 - 2015. The theoretical part defines the territorial self-government in the Czech Republic, as well as management of the municipality, budget revenues and budget expenditures. The analytical part contains basic information about the village Hovorany, analysis and subsequent evaluation of budget management in the years. The last part deals with proposals to improve the management of the municipality Hovorany.

In the United States, many small businesses fail within the first 5 years due to poor implementation of long term financial strategies. Researchers and business practitioners indicated that women small business owners face challenges in financing their small businesses beyond 5 years due to a lack of long-term financial strategies. The purpose of this qualitative multiple case study was to explore long term financial strategies women use to sustain their small businesses beyond 5 years. The general theory of entrepreneurship was the conceptual framework for this study. Data were collected from semistructured interviews with 11 women small business owners in Cleveland County, North Carolina, who had been in business beyond 5 years and the U.S. Bureau of Economic Analysis data. The 3 themes discovered were methods of funding small businesses, challenges for women as small business owners, and entrepreneurial spirit. The implications for positive social change include the potential to affect the long term success of women entrepreneurs by providing knowledge on financial strategies. The success of women small business owners strengthens local economies by stimulating economic growth, increasing the employment rate, and improving the standard of living of the area.

Veterans Affairs (VA) inconsistently distributes financial incentives, which might affect how VA employees perceived organizational justice, affecting employees’ job satisfaction and performance. The purpose of this qualitative transcendental phenomenological study was to explore the lived experiences of VA employees that informed their perceptions of their workplaces’ levels of organizational justice, their job satisfaction, and their performances due to inconsistent distribution of financial incentives by gathering data through interviews with 13 VA employees from the Southeastern United States. The research question concentrated on the lived experiences of VA employees with respect to the inconsistent distribution of financial incentives, and how these experiences shaped their perception of the level of organizational justice in their workplaces. The study was guided by the conceptual framework of social exchange theory, and data was analyzed per Moustakas 7-steps of data analysis. Four major themes emerged from the analysis of interview transcripts: financial incentives, fairness of financial incentives, organizational justice at the VA, and perceptions at VA. The study findings indicated that the allocation of financial incentives by the VA, based on performance appraisals—a product of supervisors, is skewed by supervisor’s relationship with employees, and negatively affects VA employees job satisfaction and commitment. The results of this study could contribute to positive social change by assisting managers and employees in rectifying the perception of the unfair distribution of financial incentives at the VA.

Compensation structures with relatively high levels of contingent pay encouraged managers to engage in excessive risk-taking behavior at financial institutions, which contributed to the global financial crisis of 2008. The purpose of this study, guided by the theory of the firm, was to explore compensation strategies that some executives in Uganda used to support effective risk-management practices. This multiple case study was an in-depth inquiry into compensation strategies that encouraged prudent risk-taking behavior. The target population comprised 5 risk-management executives from 5 separate commercial banks who had successfully implemented compensation strategies that supported risk management practices. Data were collected through semistructured interviews and a review of company documents. Data were analyzed using Yin’s approach and involved data coding, sorting, filtering, identifying relationships, confirming and linking emerging themes to the research question. Methodological triangulation and member checking were applied to ensure the credibility, validity, accuracy, and transferability of the results. Four themes emerged from data analysis: compensation challenges, financial and nonfinancial compensation, the effectiveness of compensation, and effective implementation of compensation strategies. The findings from the study may contribute to positive social change by driving the adoption of compensation strategies that motivate leaders to focus on the long-term objectives of the firm, including investing in socially responsive projects that improve the welfare of the communities in which the banks operate.

Bank leaders who fail to implement effective leadership strategies experience low employee morale and high employee turnover. The estimated failure rate of bank industry leadership to attain some organizational targets such as desired levels of employee morale, employee retention, and profitability is as high as 60%. The purpose of this single case study was to explore strategies bank leaders implemented to improve employee morale and mitigate employee turnover. The population for this study included 4 bank leaders in the United States who successfully applied effective leadership to improve morale and mitigate employee turnover for more than 5 years. Data were collected from semistructured interviews with bank leaders and from artifacts such as the company website. The transformational leadership theory guided this research as the conceptual framework. Data triangulation was employed. Data were analyzed using Yin’s 5 steps of data analysis. Three themes emerged from analysis of the data: adopting motivational leadership techniques, applying open and transparent communication skills, and applying recognition or rewards. The application of findings from this study could contribute to positive social change because society may benefit from an improved banking intermediation system to support employment retention and the improvement of citizens’ livelihoods.

The global nature of today's business environment, coupled with technological advances, compels managers to work with an increasingly diverse workforce worldwide. The purpose of this multiple-case study was to explore how bank managers used employee diversity effectively in the organizational decision-making process. Participants were 10 frontline management staff (middle and executive managers) with the required employee engagement skills involved in the decision-making process of a Nigerian bank. The conceptual framework for this study was rational choice theory, also called rational action theory or choice theory. Participants responded to 8 open-ended semistructured interview questions. The data collection process included validating and triangulating information gathered via member checking and review of archival business documents and peer-reviewed journals. Thematic analysis was used to analyze data from the study. Five key themes emerged from data analysis: recruitment, retention, and improvement of diverse talents; education and integration of employees with a divergent institutional heritage; engagement and leveraging of diverse stakeholders; business innovation, and productivity; and decision-making, and profitability. The implications of this study for social change include employee diversity management and strategic practices that contribute to effective decision-making process in the organization to improve socio-economic development of stakeholders (customers, board of directors, employees, policymakers and business contractors) and promote cohesion within bank staff and stakeholders resulting to improved business relationship and tolerance in society.

In the first essay, I examine stock market implications of state-to-state migration flows that are known to provide the basis for social and business networks. I observe sizeable and robust excess return comovement between migration-flow receiving and sending states at both the individual stock and the state portfolio levels. Although I find that migration flows are associated with firms’ business activities, this comovement is not fully explained by economic fundamentals and decreases substantially when firms relocate to other states. In line with the view that migration networks form the basis for a common investor base for receiving and sending states stocks, I find that a) receiving states account for a significant portion of sending states stocks’ trading volume, and b) migration comovement is strongly correlated with the percent of local population born in migration states and more prevalent in states where retail investors display “old home” bias in addition to local bias. Moreover, consistent with the view that migration comovement may be rooted in sentiment shared by a common investor base, I find that it coexists with mispricing, measured by stock return reversals. In the second essay, I test whether takeover targets are more likely to be connected to bidders via domestic migration network by relating acquisitions with the availability of social and business networks formed via interstate migration flows. I find that targets are more likely to be from the migration sending states when migration networks are sturdier. Additionally, I find that targets are more likely to be from migration sending states with stronger migration network a) when acquirer and targets are in different industries, b) when migration network involves non-neighboring states, and c) when targets are small. The results are consistent with the notion that information advantage is at least a partial explanation of firms’ propensity to choose targets from migration sending states, especially when information asymmetry about target is more pronounced. Moreover, I find that takeover premium is smaller and acquirer announcement returns are higher when migration sending states targets are small with low institutional ownership, which substantiate the view that migration networks present enhanced accessibility of soft information to acquirers and that the effect of such information advantage is valuable when there is substantial degree of information asymmetry regarding targets.

This study investigates whether the Buffett indicator can be used to make investment decisions in China. The investigation has two approaches. First, this study determines the scaling relationship between the Buffett Indicator and the GDP in China. Previous research and findings in this research regarding the scaling relationship can help international investors when comparing China with a different country as potential investment opportunities. Second, this study also examines whether the Buffett Indicator, the P/E ratio and composite models including the Buffett Indicator can be used as tools for international investors in predicting the Shanghai Index and making investment decisions for the Chinese stock market. The analysis is based on Chinese data from the World Bank, the National Bureau of Statistics of China, the Federal Reserve and the Yahoo Finance. This study finds that there is a sublinear relationship between the Buffett indicator and GDP in China and that the composite models which include the Buffett Indicator perform better to forecast the stock market in China than other indicators.

55 Abstract This diploma thesis gives an insight into the system of control and supervision procedures applied to local self-governments. The aim of this work is to evaluate possible problematic aspects of established supervisory procedures applied to budgetary management and to assess whether it is needed to extend the Supreme Audit Office's competence by enable it to control the budgetary management of local self-governing units with their own assets. The introductory chapter briefly summarizes the issue of budgetary management of local governments, while a more detailed interpretation is devoted to the duty of the local self-goverments to comply with the rules of budgetary responsibility, which was brought by Act No. 23/2017 Coll., On rules of budgetary responsibility, as amended. The following chapters are devoted to the various supervisory procedures and their systematics. First of all, Act No. 321/2001 Coll., On financial control in public administration, as amended, is provided, which provides a legal framework for public control and imposes internal obligations on territorial units in connection with the conduct of monetary operations. The next section describes the performance of the management review, which is carried out under Act No. 420/2004 Coll., On the review of local self-governing units,...