FUNKCIONALNO POZNAVANJE KAO FAKTOR USPJEHA – ANALIZA NJEMAČKIH MDAX PODUZEĆA

The purpose of this paper is to consider the German stock market and develop a method for company valuation that complements the methods used to date. The paper elaborates on the novel construct of functional familiarity, consisting of board size, board fluctuation, diversity management, long-term incentive plans (LTIP) and research and development intensity, in relation to company performance. Company reports of MDAX-listed companies were collected and examined for the years 2013 to 2019. Based on the empirical investigation in the form of regression analyses, the statistically significant influence of the executive board size and board fluctuation, as well as of the LTIP, on the development of the share price could be demonstrated. The results indicate that the evaluation tool of functional familiarity in its current constellation identified three factors that should at least lead to a critical view of the stakeholder.Svrha ovog rada je razmotriti njemačko tržište dionica i razviti metodu za vrednovanje poduzeća koja nadopunjuje dosadašnje metode. U radu se razrađuje novi konstrukt funkcionalnog poznavanja, koji se sastoji od veličine odbora, fluktuacije odbora, upravljanja raznolikošću, dugoročnih planova poticaja (LTIP) i intenziteta istraživanja i razvoja, u odnosu na uspješnost poduzeća. Prikupljena su i ispitana izvješća poduzeća koje kotiraju na MDAX-u za razdoblje od 2013. do 2019. godine. Na temelju empirijskog istraživanja u obliku regresijske analize, mogao se pokazati statistički značajan utjecaj veličine izvršnog odbora i fluktuacije odbora, kao i LTIP-a, na razvoj cijene dionice. Rezultati pokazuju da je alat za evaluaciju funkcionalnog poznavanja u svojoj trenutnoj konstelaciji identificirao tri čimbenika koji bi barem trebali dovesti do kritičkog razmatranja dioničara

ULOGA VELIČINE PODUZEĆA U DRUŠTVENO-EKONOMSKOM RAZVOJU REGIJA U ČEŠKOJ

The aim of this paper is to investigate socio-economic development drivers of NUTS 3 regions in the Czech Republic. The aim is fulfilled by examination of the relationship between one of the regional development factors – the companies’ size structure and the development of the region from both socio and economic views. We derive from the theory of diversification and prior empirical findings, and empirically test the role of companies’ size in regional development. We use a balanced dataset of 14 regions covering the years 2000 – 2016 that provides the information about regions’ socio-economic performance in terms of GDP and unemployment rate. We hypothesise that unemployment rate in the regions with higher share of small firms is less sensitive to the general trend of the whole economy. However, the higher share of small firms leads to improved regional GDP. Our findings confirm that small firms accelerate economic growth while playing a role of a social stabiliser in Czech regions. Our conclusions could help in designing the regional policy in the Czech Republic.Cilj ovog rada je istražiti pokretače društveno-ekonomskog razvoja NUTS 3 regija u Češkoj. Cilj se ostvaruje ispitivanjem odnosa jednog od čimbenika regionalnog razvoja - strukture poduzeća i razvoja regije sa socijalnog i ekonomskog stanovišta. Polazimo od teorije diversifikacije i prethodnih empirijskih nalaza te empirijski testiramo ulogu veličine poduzeća u regionalnom razvoju. Koristimo uravnoteženi skup podataka za 14 regija za razdoblje 2000. - 2016. koji pružaju informacije o društveno-ekonomskim rezultatima regija u terminima BDP-a i stope nezaposlenosti. U radu se polazi od hipoteze da je stopa nezaposlenosti u regijama s većim udjelom malih poduzeća manje osjetljiva na opći trend čitavog gospodarstva. Međutim, veći udio malih poduzeća dovodi do poboljšanog regionalnog BDP-a. Dobiveni rezultati potvrđuju da mala poduzeća ubrzavaju gospodarski rast istovremeno igrajući ulogu socijalnog stabilizatora u češkim regijama. Dobiveni zaključci mogli bi pomoći u osmišljavanju regionalne politike u Češkoj

Are the Agricultural Subsidies Based on the Farm Size Justified? Empirical Evidence from the Czech Republic

The paper aims to explore the relationship between size, production orientation, and performance in the Czech agriculture and to answer the research question as to what extent a farm size and a product orientation of farm do matter in relation to its productivity and profitability. We use data from FADN CZ database (Farm Accountancy Data Network-Czech Republic) of conventional farms oriented on fieldcrops production, milk production, other grazing livestock and mixed production, and we cover the period from 2015-2020. Pursuing an econometric approach (ANOVA and multivariate regression analysis), we test productivity and profitability differentiation among the different-sized and different production orientation companies. Finally, subsidies and their effects on different groups of companies are assessed. The findings from testing our empirical model indicate that very large farms have statistically significantly higher total factor productivity than large farms, which perform better than medium and small farms. Average productivity of large-size farms compared to small and medium farms is 1.4 times higher in terms of total factor productivity, more than two times higher in terms of agricultural land productivity, and 3.2 times higher in terms of labour productivity. The findings show that farms with field production statistically significantly outperform farms with orientation on other grazing livestock and mixed production. Different levels of productivity are translated into differentiation in the profitability. The highest profitability ratios are achieved by large farms followed by very large, medium, and small ones. The assessment of ratio of subsidies to agricultural production shows that small farms received 2.3 times higher agricultural subsidies per unit of agricultural production compared to very large farms.O

Links Between Farm Size, Location and Productivity of Farms in the Czech Republic

This paper aims to examine the productivity of Czech farms with dependence on their size and natural conditions. The methodological approach is based on the analysis of variance (ANOVA), which enables to assess whether there are significant differences between groups of farms with different size and from different locations in terms of their productivity and profitability. We use data from the FADN CZ database for the period 2015-2020 and show that very large and large farms reach substantially higher productivity in all regions, whatever the natural conditions are. Results confirmed that farms in areas without natural constrains achieve statistically significantly higher levels of all productivity indicators in comparison with farms located in areas with natural constraints. The results also showed that the agricultural policy is decisive for functioning of small farms. The subsidies have a greater effect on smaller farms than on their larger counterparts.O

Organic Food Needs More Land and Direct Energy to Be Produced Compared to Food from Conventional Farming: Empirical Evidence from the Czech Republic

This study investigated direct energy consumption and land performance under two different methods of farming-organic and conventional. The aim of our study was to examine the performance of farmers in the Czech Republic and identify the differences between organic and conventional farming regarding food safety and direct energy consumption. Based on the data from the Farm Accountancy Data Network of the EU, we measured the performance of both organic and conventional farmers in terms of product per unit of land and direct energy consumption per unit of product regarding the natural condition of the farm localization. Our findings show that organic farms produce lower output with less direct energy per unit of land; however, they need more direct energy for one unit of production. We found that a product from organic agriculture consumes 1.7-fold greater direct energy than a conventional product. The worse the natural conditions for farming, the broader the difference between organic and conventional regimes regarding their performance and energy consumption. Our conclusions may help shape agricultural policy in the Czech Republic, where organic farming is receiving systematic political support, leading to an increase in the proportion of organically farmed arable land.O

Mental health prevalence and predictors among university students in nine countries during the COVID-19 pandemic: a cross-national study

The student population has been highly vulnerable to the risk of mental health deterioration during the coronavirus disease (COVID-19) pandemic. This study aimed to reveal the prevalence and predictors of mental health among students in Poland, Slovenia, Czechia, Ukraine, Russia, Germany, Turkey, Israel, and Colombia in a socioeconomic context during the COVID-19 pandemic. The study was conducted among 2349 students (69% women) from May–July 2020. Data were collected by means of the Generalized Anxiety Disorder (GAD-7), Patient Health Questionnaire (PHQ-8), Perceived Stress Scale (PSS-10), Gender Inequality Index (GII), Standard & Poor’s Global Ratings, the Oxford COVID-19 Government Response Tracker (OxCGRT), and a sociodemographic survey. Descriptive statistics and Bayesian multilevel skew-normal regression analyses were conducted. The prevalence of high stress, depression, and generalized anxiety symptoms in the total sample was 61.30%, 40.3%, and 30%, respectively. The multilevel Bayesian model showed that female sex was a credible predictor of PSS-10, GAD-7, and PHQ-8 scores. In addition, place of residence (town) and educational level (first-cycle studies) were risk factors for the PHQ-8. This study showed that mental health issues are alarming in the student population. Regular psychological support should be provided to students by universities

A Comparison of Depression and Anxiety among University Students in Nine Countries during the COVID-19 Pandemic.

The mental health of young adults, particularly students, is at high risk during the COVID-19 pandemic. The purpose of this studywas to examine differences inmental health between university students in nine countries during the pandemic. The study encompassed 2349 university students (69% female) from Colombia, the Czech Republic (Czechia), Germany, Israel, Poland, Russia, Slovenia, Turkey, and Ukraine. Participants underwent the following tests: Patient Health Questionnaire (PHQ-8), Generalized Anxiety Disorder (GAD-7), Exposure to COVID-19 (EC-19), Perceived Impact of Coronavirus (PIC) on students’ well-being, PhysicalActivity (PA), andGeneral Self-ReportedHealth (GSRH). The one-wayANOVAshowed significant differences between countries. The highest depression and anxiety risk occurred in Turkey, the lowest depression in the Czech Republic and the lowest anxiety in Germany. The 2 independence test showed that EC-19, PIC, and GSRHwere associatedwith anxiety and depression inmost of the countries, whereas PA was associated in less than half of the countries. Logistic regression showed distinct risk factors for each country. Gender and EC-19 were the most frequent predictors of depression and anxiety across the countries. The role of gender and PA for depression and anxiety is not universal and depends on cross-cultural differences. Students’mental health should be addressed froma cross-cultural perspective

English verbs appear, look, seem, look like, etc. and Their Particular Characteristics.

Abstract This thesis is concerned with English verbs with different renderings of the meaning ``seeming``. In particular, it deals mainly with verbs ``appear``, ``look``, ``seem``, ``sound`` and marginally also with a verb phrase ``strike one as``. The thesis focuses on the particular characteristics of above given verbs. It deals with the lexical meanings of the verbs based on the comparison of dictionary entries and a comparison of English and Czech translated fiction. It also shows syntactic and semantic classifications of the verbs, their possible complements and the types of phrases in which they appear. The thesis has been divided into two main parts {--} a theoretical and a practical section. The theoretical section copes with the comparison of dictionary entries of researched verbs and their classifications as well as their complements and the phrases in which they are included. The practical part is based on the analysis of excerpts of my own choosing. It studies the behaviour of given verbs in the practical use of language and compares the results with the theoretical section of the thesis