M20 - Business Economics: GeneralReturn

There is growing interest in property prices and price trends at national and regional levels. The paper aims to find links between selected demand and supply determinants based on a panel regression of regional data during 2000-2017 and to contribute to further discussion of the role of these determinants. The main output of the paper is the identification of regional differences in the direction and strength of the influence of individual determinants on the flat price. Regional differences were identified in the mid-year population, the number of inhabitants per completed flat, the number of applicants per job, the amount of household disposable income and the divorce rate. In Prague, the first three determinants were significant. The validity of the research is limited by the fact that some potentially significant data are not statistically monitored and data aggregated at the level of regions do not reflect local conditions. The output of the analysis shows determinants that explain the price variability and indicates unused economic policy instruments.

More than EUR 347 million from EU funds was allocated for boosting competitiveness of Czech economy during the time period from 2004 to 2006. The aim of this paper is to evaluate effects of subsidies from programme "Development", which was focused on rising small and medium company competitiveness. Method Benchmark and method Per se were created for this purpose. Analyses confirm that subsidies are drawn by companies with above average rate of competitiveness. On the other hand, competitiveness of these subsidised companies (measured by eight financial indicators) was ostensibly decreasing after drawing the subsidy. The cause for this fact can be found in Czech accounting legislation which creates a dilemma for company managers. Research results show that managers of subsidized companies have probably chosen conservative strategy - the above average EBIT (created thanks to the subsidy) hold in liquid assets and use it for necessary future reinvestment but formally worsen profi tability ratios.