Číslo 32, ročník XII

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    The issue of Remuneration of High-Ranking Managers in Enterprises of the Czech Republic
    (Vysoké učení technické v Brně, Fakulta podnikatelská, 2018-12) Jančíková, Kateřina
    Purpose of the article: The purpose of this article is to analyse the remuneration of senior executives in large enterprises in the Czech Republic through a structured questionnaire survey to analyse the factors that affect remuneration, interdependence and specification of the area. Methodology/methods: This article uses secondary research resources from the Web of Science and Scopus database systems. A database of Amadeus has been used to select a sample of companies, which contains reports of nearly 20 million European companies, including those from the Czech Republic. General scientific methods such as the analysis, comparison and statistical methods were used to calculate frequencies, average, and median values. Scientific aim: The aim of the article was to highlight the system of rewarding senior executives, revealing the factors that affect the amount of rewards. The questionnaire survey also focused on identifying the motivation of these workers. Findings: Large firms in the Czech Republic are limited in the number and therefore the presented study has certain limits. This article focuses on the evaluation and analysis of the system of rewarding a selected group of employees in large enterprises. Conclusions: Remuneration is a very specific part of business management. The questionnaire survey conducted among the Czech Republic’s large companies showed that top management is rewarded in terms of the performance and company performance. The manager’s remuneration then depends on the size of the enterprise, and this premise was also confirmed by the Kendall tau statistical method.
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    Insurance Awareness and Acceptance: Empirical Evidence among Small and Medium-Sized Enterprises in the Lagos State, Nigeria
    (Vysoké učení technické v Brně, Fakulta podnikatelská, 2018-12) Ajemunigbohun, Sunday Stephen; Ayobami, Adeoye Olarewaju
    Purpose of the article: Insurance awareness in Nigeria needs to be encouraged among entrepreneurs in order to galvanise support for insurance penetration and density. Methodology/methods: A descriptive approach and survey design were employed. A singlestage cluster sampling technique and interview schedule were both employed. 352 respondents made up of small business and medium-sized operators were drawn from three Local Government Council Areas of Lagos. The statistical instruments employed for this study were the Kolmogorov-Smirnov and Kendall’s rank correlation coefficient techniques. Scientific aim: This study aims at the relationship between insurance awareness and its acceptability among small business and medium-sized operators in the metropolis of Lagos. Findings: The results of this study assume that insurance products have not gained high popularity among small business and medium-sized operators in the Lagos metropolis. They have also shown that there is a low but slightly positive relationship between insurance awareness and its acceptance among small business owners in the Lagos metropolis. Our formulated hypotheses have been supported. Conclusions: This study provides a better understanding on the importance of insurance awareness as related to its acceptance among small and medium-sized entrepreneurs This study recommends that greater attention should be placed on small business owners’ education of and engagement in the design of insurance products related to their activities so as to allow for the sense of ownership, effective risk management communication and proper risk financing techniques.
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    Put-Call Parity in Indian Stock Markets post Turmoil Settlement
    (Vysoké učení technické v Brně, Fakulta podnikatelská, 2018-12) Gupta, Pankaj Kumar
    Purpose of the article: Put and call prices have a deterministic relationship for identical options irrespective of the investor dmand. The theoretical put-call parity (PCP) relationship may be analysed to explore the arbitrage opportunity and determine the extent of market efficiency. We have studied the violation of this relationship using a case of options traded on the National Stock Exchange of India (NSE) on various parameters including Moneyness, arbitrage differential, and time to maturity and trade volumes. Methodology/methods: We use regression models with dummy variables on one-year sample data (Jan-Dec 2017) of the NSE Nifty Call and Put options to examine the existence of arbitrage indicating the inefficiency of market particularly the illiquidity factor. In the selected period (turmoil settlement), the relative volatility is low and it is worth testing the PCP. Scientific aim: The aim of this research is to improve the knowledge on market efficiency in developing markets highlighting the role of major market participants. Findings: We have found that the violation of the put-call parity relationship in a large number of cases occurred even during the post turmoil settlement period. Arbitrage profits are found to be significant for deeply in-the-money and deeply out-of-the money options though the differentials are not significantly affected by the increase or decrease in time to maturity and liquidity indicating a direct relationship. Also, the gap between the spot price and the strike price of the Nifty index options is directly proportional to the arbitrage profit. Conclusions: We have established that in options markets, significant arbitrage opportunities exist violating the Put-Call parity relationship even in the times of low volatility and relatively higher trade volumes. For the policymakers, the immediate concern is to improve the market competitiveness.
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    An Application of the Principle of the Competitive Space Demands Accelerator to the Assessment of the Mobile Communication Market Development in the Czech Republic
    (Vysoké učení technické v Brně, Fakulta podnikatelská, 2018-12) Zich, Robert; Svobodová, Karolína; Veselá, Jitka
    Purpose of the article: The article presents the conclusions of an empirical study focused on the dynamics of changes of the Czech mobile communication market at the moment of significant change of the pricing policy in 2013. The evaluation of the dynamics of changes is based on the competitive space demands accelerator mechanism, which is a theoretically developed concept explaining specific links between the growing customer demands and company competitiveness development. The study presented in this article has verified the validity of this concept. Methodology/methods: The presented results are significantly supported by ten years of the intensive research activity mapping aspects of competitive behavior of mobile service providers in the Czech Republic. The research methodology is based on a qualitative research case study. Scientific aim: The main scientific aim is an empirical verification of the theoretically developed concept explaining the paradox of accelerated growth of customers’ demand caused by the company endeavor to increase its competitiveness in the mobile communication industry. Findings: The development of the mobile communication market in the Czech Republic at the moment of principle change in the structure and form of offered subscriptions in associations with the pricing policy in the year 2013 proved the validity of the mechanism of the influence of the competitive space demands accelerator. Conclusions: The main conclusion can be summarized into three points. The first is the fact that a significant part of the increase in requirements and demands of the market is called by the activity of companies rather than the natural growth of customers’ requirements. The second, extremely intensive depreciation of the potential advantage in the sense of competitive differentiation and perceived value can be explain by the mechanism of the accelerator. The third is confirmation of validity of criticism of the concept of sustainable advantage especially in the context of the created customer value.
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    Risk Management in IT Projects – Case Study
    (Vysoké učení technické v Brně, Fakulta podnikatelská, 2018-12) Biskupek, Artur
    Purpose of the article: The first part of the article shows summarised information on risk management in projects based on the literature review. The second part of the article is a case study made on the basis of materials made available by the company implementing the AZTiE project. The case study shows how the risk management was carried out in the project. The techniques and methods of risk management used by the project manager were presented and risk groups were provided with assigned example risk factors, as well as the risk control plan envisaged for the specific factor. Methodology/methods: This article consists of two parts. The first part was developed on the basis of a literature study on project management and risk management in projects, in particular in IT projects. The second part was prepared on the basis of the consent of the AIUT Company and documents provided by the company. The documentation related to project management was analysed against this article. In particular, the basis for the study were documents such as progress reports, internal progress report, a static risk assessment card, Maximo training documentation, a risk management plan and identified risk factors along with control plans. Scientific aim: The aim is to present the course of the risk management process in a real IT project. Findings: The conclusion that can be drawn after the case study is that active and structured risk management in the project is one of the key success factors in the project. Conclusions: It is important that the entire risk management process is standardizsed and managed in an active manner. In the case study below, risk management was one of the success factors of the entire project.