scholarly journals Efficiency of insurance companies in the Czech Republic and Poland

2018 ◽  
Vol 9 (1) ◽  
pp. 71-85 ◽  
Author(s):  
Eva Grmanová ◽  
Ryszard Pukala
Keyword(s):  
Czech Republic ◽  
Value Added ◽  
Efficiency Score ◽  
Insurance Market ◽  
Insurance Companies ◽  
Data Envelopment Analysis Model ◽  
Analysis Model ◽  
Tobit Regression ◽  
The Czech Republic ◽  
Commercial Insurance

Research background: The insurance market is an important part of the financial system. The international concept of insurance operations brings certainty and helps to balance the economic results. Purpose of the article: The aim of the paper is to compare  the efficiency of life insurance of commercial insurance companies in the Czech Republic and Poland using the Data Envelopment Analysis model (DEA). Methods: The methods used in the paper are descriptive statistics, DEA model and Tobit regression model. DEA models are nonparametric quantitative models for efficiency assessment. They use linear programming to transform multiple inputs into multiple outputs. The efficiency of the subjects analyzed is assessed based on the efficiency scores.  Findings & Value added: The subject of our analysis was 17 commercial insurance companies in the Czech Republic and 26 commercial insurance companies in Poland. Ten insurance companies were efficient on the common Czech-Polish insurance market. The share of efficient insurance companies was approximately equal. The arithmetic mean of the efficiency scores was higher in Poland than in the Czech Republic. The variability of the efficiency scores of Czech insurance companies was greater than the variability of the efficiency scores of Polish insurance companies. The  correlations with efficiency score as the dependent variable and with market share as the independent variable of Tobit regression were very low.

scholarly journals An Analysis of the Insurance Market in the Czech Republic

2021 ◽  
Vol 92 ◽  
pp. 08006
Author(s):  
Liběna Černohorská ◽  
Matěj Klofát
Keyword(s):  
Czech Republic ◽  
Financial Markets ◽  
Global Economy ◽  
Insurance Industry ◽  
Value Added ◽  
Insurance Market ◽  
Insurance Companies ◽  
Traditional Values ◽  
The Czech Republic ◽  
Commercial Insurance

Research background: We are currently witnessing significant changes in traditional values and developments concerning the globalization of the financial markets. Since the beginning of the 21st century, not only have the instruments used by global financial markets changed significantly, but the way they operate and the behavior of their participants have changed as well. Digitalization and the use of modern technologies are gradually beginning to take hold in all segments of the global economy. In the field of insurance, this mainly concerns the areas of insurance distribution and claims settlement. Purpose of the article: The purpose of this paper is to analyze the insurance industry in the Czech Republic for the period of 2014 to 2018. Methods: Spider analysis was used to conduct the analysis. This type of analysis is a comprehensive analytical tool, which can also be used by the management of commercial insurance companies; it is based on 16 ratios, which are divided into four segments. Spider analysis provides a clear representation of the examined company’s position in comparison with the market average or with competing companies in that field of business. Using spider analysis, it is possible to portray the insurance market in the Czech Republic using the selected insurance companies. Findings & value added: Based on the analysis results, it was found that Pojišťovna VZP was the only company that differed from the other commercial insurance companies analyzed – and the insurance market as a whole. Globalization’s effects on developmental trends in the world’s economies, the financial markets, and the business activities of both commercial insurance companies and the insurance industry are significant and difficult to estimate in terms of scope.

scholarly journals The Technical and Allocative Efficiency of the Regional Public Galleries in the Czech Republic

SAGE Open ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 215824402110092
Author(s):  
Iveta Vrabková ◽  
Jiří Bečica
Keyword(s):  
Czech Republic ◽  
Allocative Efficiency ◽  
Malmquist Index ◽  
Data Envelopment Analysis Model ◽  
Data Envelopment ◽  
Analysis Model ◽  
The Czech Republic ◽  
Allocation Efficiency ◽  
Average Efficiency ◽  
Technical And Allocative Efficiency

The regional public galleries in the Czech Republic belong to the most important and the biggest institutions of their kind. The article deals with the assessment of the technical and allocation efficiency of 19 regional public galleries for the period between 2011 and 2015 from the perspective of the static as well as the dynamic efficiency. For the estimation of the efficiency according to the specific inputs and outputs, the Data Envelopment Analysis model and the Malmquist Index were used. In 2015, four galleries were fully technically efficient, and the average efficiency of the set being assessed was 70%. In 2015, in comparison with 2011, 11 public galleries improved their productivity. In 2015, seven galleries reached the full allocation efficiency, and the average efficiency was 90%. In 2015, in comparison with 2011, 12 public galleries improved their efficiency.

scholarly journals Analysis of the development of the economic account for agriculture of the Czech Republic

2012 ◽  
Vol 52 (No. 5) ◽  
pp. 205-208
Author(s):  
J. Klíma ◽  
M. Palát Sn
Keyword(s):  
Czech Republic ◽  
Statistical Analysis ◽  
Value Added ◽  
Plant Production ◽  
Reference Period ◽  
The Czech Republic ◽  
Agricultural Industry ◽  
Increasing Trend ◽  
Production Output ◽  
Net Value Added

The paper is focused on assessing the development of the economic account for agriculture of the Czech Republic in the selected reference period 1998–2003. There were evaluated effects of the particular types of the economic accounts. Methods of regression and correlation analysis and development trends were used for the mathematical-statistical analysis. The plant production output similarly as the output of agricultural industry show an increasing tendency since the period under investigation reaching a peak about 2001 and in next years decreasing in difference to the gross value added at basic prices and the net value added at basic prices which shows an increasing trend throughout the period. Both animal output and the agricultural services output show a decreasing trend reaching a minimum about 2002. 

scholarly journals Development of the Regulation of Insurance Intermediaries in the Czech Republic

2019 ◽  
pp. 343-352
Author(s):  
Martina Krügerová
Keyword(s):  
Czech Republic ◽  
Insurance Coverage ◽  
Distribution Channels ◽  
Legal Regulation ◽  
Main Channel ◽  
Insurance Market ◽  
The Czech Republic ◽  
Registered Intermediaries ◽  
Selection Of

In the insurance market, various distribution channels can be selected to distribute an insurance coverage. The selection of those channels depend on many factors and specific criteria. The insurance intermediaries represent the main channel for external distribution channels (also called the intermediary channel). The aim of this article is to summarise the legal regulation of insurance intermediaries and to show changes in the development of registered intermediaries.

scholarly journals A Modern Industrial Policy for the Czech Republic: Optimizing the Structure of Production

Mathematics ◽  
2021 ◽  
Vol 9 (23) ◽  
pp. 3095
Author(s):  
Maria Markaki ◽  
Stelios Papadakis ◽  
Anna Putnová
Keyword(s):  
Czech Republic ◽  
Industrial Policy ◽  
Motor Vehicle ◽  
Value Added ◽  
Electrical Equipment ◽  
Pharmaceutical Products ◽  
Global Market ◽  
Output Analysis ◽  
The Czech Republic ◽  
Restructuring Process

The decreased demand for new vehicles will put pressure on the economy of the Czech Republic, a country deeply integrated into global value chains, as part of global vehicle production. The aim of this research was to define an appropriate industrial policy for the Czech Republic that will ensure that the country maintains its competitive position in the global market. A constrained optimization model was built, based on input–output analysis, to determine the optimal value-added structure and the intersectoral structure of the Czech economy for the country to retain its exporting character. The optimization problem was solved by using a particle swarm optimization algorithm. The results suggest that the optimal industrial policy plan for the country is the structural transformation of production, mainly targeting the development of technologically advanced sectors of manufacturing (such as: chemicals and chemical products; basic pharmaceutical products; computer, electronic, and optical products; electrical equipment; and machinery and equipment). The suggested restructuring process increased the domestic value-added in gross exports as a share of total exports by 6.77%, creating optimal production capabilities for the economy. The Czech Republic appears to have the potential for the implementation of an industrial policy, avoiding the increasingly vulnerable motor-vehicle sector.

scholarly journals Bioeconomy in the National Forest Strategy: A Comparison Study in Germany and the Czech Republic

Forests ◽  
2020 ◽  
Vol 11 (6) ◽  
pp. 608 ◽  
Author(s):  
Ratna Chrismiari Purwestri ◽  
Miroslav Hájek ◽  
Miroslava Šodková ◽  
Mathy Sane ◽  
Jan Kašpar
Keyword(s):  
Czech Republic ◽  
Rural Areas ◽  
Forest Policy ◽  
Forest Biomass ◽  
Value Added ◽  
Adoption Process ◽  
National Forest ◽  
Comparison Study ◽  
The Czech Republic ◽  
European Forest

Background and Objectives: Forest-based bioeconomies have been adopted as the national forest strategies in many European countries. However, in the Czech Republic, the bioeconomy has not been officially included in national policies. The main objective of the paper was to review the current forest policy in the Czech Republic in meeting the purposes of the European forest-based bioeconomy. To better understand the opportunities and shortcomings of the forest strategy and the implementation of a forest-based bioeconomy in the country, a comparison study in the Czech Republic and Germany was also carried out. Methods: A review of the forest strategies was done based on the following research questions: (1) How are the bioeconomy principles and priorities present in the Czech National Forest Programme (NFP) as reflected in the EU Forest Strategy, and how does the Czech forest strategy compare to that in Germany? (2) What is the situation concerning the national wood production and consumption to understand the opportunities and challenges of the bioeconomy implementation in the studied countries? Results: The Czech NFP was approved following the pan-European process for the protection of forests in Europe; therefore, it does not directly reflect the 2012 bioeconomy principles, although most of these approaches have been included in this strategy. Different national measures in two studied countries were revealed to achieve the objectives of the forest bioeconomy. The primary contribution from the Czech forestry to the bioeconomy is sustainable forest-based products. A forest bioeconomy is also targeted at mitigating climate change by providing forest biomass for bioenergy. Conclusions: The Czech Republic is in the midst of the adoption process of the bioeconomy strategy. The main challenges faced by the forest-based sector in the country is to fulfil the demand for sustainable forest biomass and high value-added products. Multisectoral collaboration, business diversification, and education for public consumers are needed to increase the growth and job opportunities of the bioeconomy sector in rural areas.

scholarly journals Modelling direct payments to agriculture in a CGE Framework – analysis of the Czech Republic

2011 ◽  
Vol 57 (No. 11) ◽  
pp. 517-528 ◽  
Author(s):  
Z. Křístková ◽  
A. Habrychová
Keyword(s):  
Czech Republic ◽  
Policy Instruments ◽  
Value Added ◽  
Complete Removal ◽  
Living Standard ◽  
Negative Effects ◽  
Positive Role ◽  
The Czech Republic ◽  
Direct Payments ◽  
Positive Effect

The paper deals with modelling of the direct payments subsidies to agriculture and their impact on the economy of the Czech Republic. With the use of the general equilibrium model, scenarios concerning an increase of subsidies reaching 100% of the national envelope and a complete removal of both SAPS and Top-Up payments are applied. The results show that if the full amount of subsidies is granted, the value added in agriculture and the connected sectors is stimulated, with a positive effect on the total GDP. However, if the direct payments are completely removed, negative effects on employment can be expected, suggesting that the direct payments play a positive role in the economy. The paper further points out that the effects of direct payments on the incomes of farmer households are limited, suggesting that the farmers’ living standard should be supported by other policy instruments than the direct payments

scholarly journals The impact of LFA payments on FADN farms in the Czech Republic

2008 ◽  
Vol 54 (No. 10) ◽  
pp. 489-497 ◽  
Author(s):  
M. Štolbová ◽  
T. Hlavsa
Keyword(s):  
Czech Republic ◽  
Current System ◽  
Value Added ◽  
Farm Income ◽  
Family Farm ◽  
The Czech Republic ◽  
Data Network ◽  
Farm Accountancy Data Network ◽  
The Impact ◽  
Net Value Added

This paper analyses the impact of the LFA payments on farms economic results on the basis of the Farm Accountancy Data Network in the Czech Republic. Firstly, the approaches are compared to the structure of farms based on the LFA type. Secondly, the share of the LFA payments on economic results of farms is evaluated. The evaluation considers the LFA type, share of grassland, size of the eligible area of farms. Basic economic indicators are being monitored, such as Gross Farm Income, Farm Net Value Added, Family Farm Income, current subsidies, of which in particular the LFA payments. The share of the LFA payments in economic results of agricultural holdings is compared. As a result of the analysis, the winners and losers of the current system were defined.

The Costs of Physical Inactivity in the Czech Republic in 2008

2014 ◽  
Vol 11 (3) ◽  
pp. 489-494 ◽  
Author(s):  
Katerina Maresova
Keyword(s):  
Czech Republic ◽  
Physical Inactivity ◽  
Insurance Companies ◽  
Disability Adjusted Life Years ◽  
The Czech Republic ◽  
Disability Adjusted Life ◽  
Life Years ◽  
Comparative Risk ◽  
Health Insurance Companies ◽  
Risk Assessment Methodology

Background:Several scientific studies estimate the burden of physical inactivity in different countries, yet in the Czech Republic, this kind of research is still missing. This paper represents one of the first attempts to quantify the costs of physical inactivity in the Czech Republic for 2008.Methods:The analysis, based on scientific literature review, uses the comparative risk assessment methodology and applies it on data available in the Czech Republic.Results:In 2008, the financial cost of physical inactivity to public health insurance companies was almost 700 million Kč, or 0.4%, of total healthcare costs. Furthermore, physical inactivity caused 2442, or 2.3%, of all deaths in 2008 and 18,065, or 1.2%, of all disability-adjusted life years in 2004.Conclusions:The costs of physical inactivity in the Czech Republic are considerable, yet slightly smaller than in other comparable studies. The obtained results could be used as an argument for policymakers when conceiving public or private health policy.

scholarly journals The research and development in the engineering field in the higher education system of the Czech Republic and its international comparison

Ergo ◽  
2016 ◽  
Vol 11 (1) ◽  
pp. 3-11
Author(s):  
Zdeněk Kučera ◽  
Tomáš Vondrák
Keyword(s):  
Higher Education ◽  
Czech Republic ◽  
Value Added ◽  
Evaluation Methodology ◽  
Necessary Condition ◽  
Industrial Property ◽  
Foreign Markets ◽  
The Czech Republic ◽  
Positive Balance ◽  
The World

Abstract The Czech Republic is at the forefront of the EU in the contribution of the manufacturing to the total gross value added. The Czech industry contributes significantly to the positive balance of trade of the country. The overall international competitiveness of the Czech Republic will depend upon the innovation performance of the manufacturing sector and its competitiveness on the foreign markets. A necessary condition for extending the share on the foreign markets is the effective harnessing of the national R&D capacity and a strong qualified local workforce. This contribution uses a bibliometric and a patent analysis for the assessment of the R&D carried out by the Czech higher education institutions (HEIs) oriented towards the engineering fields, and selected more general universities, and compares them with similar HEIs in a selected group of developed countries. The analysis indicates that the Czech publication activity in the field of engineering grows. The Czech publications in engineering are cited below the world average which indicates that their impact (and to some extent the quality of the underlying R&D) lags behind the world. The patent activity of the Czech HEIs is on the international scale rather weak. The patenting activity of the Czech HEIs strongly grows since the middle of the last decade. This may by a side effect of the new evaluation methodology which takes into account also the patents. The number of patents registered with the Czech Industrial Property Office increases but on the other hand the international patenting activities tend to stagnate. This gives rise to questions about the real value of the produced patents from the point of their importance for the export competitiveness of the Czech industry.

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