State ownership and control in the Czech Republic

We analyze the extent of the integrated control of the state over privatized firms during the post-privatization decade (1995?C2005) in the Czech Republic. During this period the integrated control potential of the state resembled a corporate pyramid. While pyramidal control was not fully utilized, the golden share in the hands of the state substantially enhanced its ability to control firms. In terms of corporate performance we show that state control resulted in declining and even negative corporate performance. Integrated state control was shown to be mostly inferior when compared with private types of ownership. State ownership positions are in striking contrast with the lack of capacity to push corporate performance in order to collect larger tax volumes. Lack of focus and inter-agency cooperation as well as the simple inefficiency of the state bureaucracy are the most likely reasons behind our findings.     

捷克:被“观光”的腐败

当地时间2013年6月13日,捷克首都布拉格,捷克警方对总理办公室、国防部、布拉格市政府和一些私人住所进行大规模突袭搜查,数名政府高官被逮捕,引发捷克政坛地震,捷克政府陷入严重危机之中。(图/CFP)     

Crime and the Czech Republic: Summary observations

Increased levels of street and organized crime activity have accompanied the transition from totalitarian rule to a freer political climate both in the Soviet Union and in its former east European satellites. A conference in the Czech Republic involving officials from the host country and visiting practitioners and academics largely from the United States considered methods for dealing with burgeoning crime issues. The article summarizes the tone and content of the discussions as well as the substantive issues addressed. This revised version was published online in July 2006 with corrections to the Cover Date.     

The Regulation of Telecommunications in the Czech Republic

Abstract:   Since the fundamental upheaval of the political, social, and economic climate of the Czech Republic in 1989 successive governments have striven hard to develop a functioning market economy in which investors, both domestic and foreign, enjoy sufficient stability and legal certainty in which to thrive. The rapid development of the telecommunications sector was to act as a catalyst for the general improvement of the entire national economy, whilst at the same time helping the country to meet its policy goal of creating the conditions precedent to its successful integration into the European Union. The purpose of this article is to trace the progress of the Czech telecommunications market to date and to assess the regulatory framework adopted by the Czech government in light of its stated policy goals. After giving a brief history of the development of the market and the corresponding development of a regulatory régime this article shall turn to examine the current legal position after the adoption of the recent Law on which came into force on 1 July 2000. As well as suggesting necessary modifications and amendments due to certain flaws or omissions in the Act, modifications arising from the adoption by the EU of its new regulatory framework for communications shall also be suggested.     

The financial competition,concentration and structure of financial performance nexus in the financial sector of Oman

Economic Change and Restructuring - This study aimed to measure the impact of financial competition, as measured by the Lerner index (LRI) and the Panzar-Rosse model (PRM), and concentration, as...     

Financing Enterprises in the Czech Republic: Debt and Firm-specific Variables

This paper investigates the effects of firm specific variables on indebtedness, and thus financing decisions in the Czech Republic during the first years of transition. By estimating a Structural Equation Model with latent variables, the paper analyses the determinants of credit demand and supply in order to understand to what an extent they testify the transformation of both enterprises financing strategies and credit allocation policies and thus the emergence of a new financial discipline.     

Efficiency in Banking: Empirical Evidence from the Czech Republic

The paper examines the cost efficiency of the Czech-banking system in the 1990s by applying the distribution free approach model. Reported results indicate that foreign banks were on average more efficient than the other banks, although their efficiency was comparable with the ‘good’ small banks’ efficiency in early years of their operation. Based on the estimated results it is argued that early privatisation of state-owned commercial banks and more liberal policy towards foreign banks in the early stage of transition would have enhanced the efficiency in the banking system.     

Democratization, crime, punishment and public attitudes in the Czech Republic

This paper presents the partial results of three surveys of the Czech public regarding the issues of crime and punishment. As rising levels of crime have accompanied the democratic transition, so have rising calls for increased repression of criminal offenders, such as strong opinions in favor of reinstating the death penalty. At the same time, however, various other factors in Czech society, such as low levels of unemployment and a stable trust in government institutions, lead to the conclusion that the democratic and economic transition in 1989 was characterized by relatively low levels of anomie. The Czech public is therefore able to maintain an optimistic attitude toward future conditions in the new democracy. This revised version was published online in July 2006 with corrections to the Cover Date.     

Capital Market Imperfections, Uncertainty and Corporate Investment in the Czech Republic

In this study we examine private investment behavior of firms in the Czech Republic. A special feature of the study is that the investment equations include variables which may give some more insights into the role of capital market imperfections as well as the effect of uncertainty. Our results find support for the accelerator model. We find evidence for cash-flow effects on Czech corporate investment. It is striking that indeed smaller longer privatized firms face relatively less cash flow restrictions. Financial structure doesn't matter as much as we expected. We find that smaller firms react positively to more uncertainty.     

DNA-based identification of big cats and traditional Chinese medicine artifacts in the Czech Republic

The aim of this study is to provide an overview of ongoing research on and the development of identification tools for big cats (Panthera tigris, Panthera leo, Panthera pardus, …). The set of tools includes a species-specific RTPCR quantitation system (nuclear and mitochondrial), STR multiplexes, a rapid system for big cat species determination, and a database solution.     

Crime networks in Vietnamese diasporas. The Czech Republic case

The study seeks to analyse the structure and “modus operandi” of crime networks in the Czech Republic′s Vietnamese diaspora. Vietnamese criminality in the country has roots in communist era. After the democratic changes at the end of 80s, it has been representing dynamically developing phenomena, penetrating not only the local Vietnamese emigrant community but the state apparatus as well. Actually, the Vietnamese criminal underground lives in a specific symbiosis with the local Asian emigrant community, where legal and illegal activities are frequently merged together. “Respectable men” who have features of both legal businessmen and criminal bosses are the main actors in these processes. They create parallel power structures in closed worlds of Asian emigrants.     

The Czech transition banking sector instability: the role of operational cost management

In this article we show—using the estimated cost efficiency of banks—that besides the risk (proxied by the share of non-performing loans), the quality of operational cost management was an equally important determinant of bank failure risk during the decade of banking sector transformation in the Czech Republic.

The effect of multiple-office holding on the parliamentary activity of MPs in the Czech Republic

This article deals with multiple-office holdings by legislators in the Czech Republic during the VI. Chamber of Deputies, 2010–2013. First, both positive and negative theoretical consequences of simultaneously holding multiple political offices are depicted. Then, a uniquely detailed database of member of parliament-periods is constructed for quantitative research. Multiple-office holding is demonstrated to be a frequent behaviour among Czech deputies. The analysis results suggest that some of the deputies’ parliamentary performances were influenced both positively and negatively. Multiple-office holders probably save time on certain activities, and focus more strongly on others. Different mandates held simultaneously by deputies affect their activity differently; local and non-executive mandates’ effects tend to be positive compared with regional and executive mandates’ effects.     

Regulation of interlocking directorates in the financial sector: a comparative case study

Network analysis techniques are used for investigating the probable effects of a change in the regulation aiming to prevent the anticompetitive effects of interlocking directorates (ID), that is the crossed presence of directors in the boards of competing firms. The case study considers a recent Italian law (Section 36 of Law Decree n. 201/2011) which prohibits ID for credit, insurance and financial companies. The ID networks of the top-100 Italian listed companies and of the financial companies in this same list are considered and compared with the analogous networks in the US. The US networks represent a benchmark given that in the US companies act under Section 8 of the Clayton Act that has banned ID since 1914. The effects on the ID networks of the new Italian law are simulated under two different interpretations of the law. If the law will be applied according to a narrow interpretation, the Italian ID network will rest substantially unaltered. However, if the law will be applied according to a broad interpretation, the ID network for financial firms will be completely modified with a network configuration very similar to the American benchmark.     

Organised Crime in East Central Europe: The Czech Republic,Hungary and Poland

Recent developments in East Central Europe have made countries in the region increasingly attractive to organised crime. The development of organised crime in ECE is seen as a significant problem with global implications. The roots of organised crime in ECE date back to the 1970s, but conditions after the revolutions of 1989 led to an influx of foreign-based gangs into the region. This has resulted in the emergence of organised crime that is predominantly international in character. Gangs have established strategic alliances to organise operations spanning three continents. The countries of ECE have been fighting back against organised crime and significant advances have been made. Continued criminal operations through the region, however, are perceived as a threat on a global scale. The accession of the Czech republic, Hungary and Poland into the EU in May 2004 will provide a clear litmus test for how successful these attempts have been to date.     

The Emergence of Career Politicians in Post‐Communist Democracies: Poland and the Czech Republic

Abstract: Despite party system fluidity and high rates of electoral volatility in the first decade after the transition to democracy in Poland and the Czech Republic, career politicians are emerging. Using data on all parliamentary candidates in the last election before the fall of communism and in all elections since then, we show that, in both countries, parliamentary carryover rates have risen substantially, a growing number of incumbents are seeking reelection, and an increasing proportion of candidates for legislative office have competed in previous parliamentary elections. Moreover, we demonstrate that prior political experience has a persistent and positive effect on winning office. We argue that the rise of career politicians facilitates the consolidation and effectiveness of these new democracies.