GA ČR Standard GA25-18457S:
Dynamics in ownership patterns of multinational banks
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- Principal investigator: prof. Ing. Evžen Kočenda, Ph.D.
- Co-investigator in the Department of Finance and Accounting: Ing. Peter Albrecht, Ph.D., Ing. Daniel Pastorek, Ph.D. (Mendel FinAct team members)
- Project duration: 01/2025—12/2027
- Registration number: 25-18457S
Abstract
The projcet examines trade uncertainty, fragmentation events, and global shocks amplified by bank lending channels. We emphasize the role of large multinational bank groups and provide comprehensive insights into specific shocks affecting banks' lending exposures concerning firms, alongside the characteristics of banks representing supply-side factors.
TAČR: Research on the effectiveness of measures for reduction of energy consumption and emissions from road transport by increasing the utilization of public transport and reducing individual road transport at the regional level
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- Co-investigator in the Department of Finance and Accounting: prof. Ing. Petr David, Ph.D. (Mendel FinAct team member)
- Project duration: 01/2025—12/2028
- Registration number: CL02000020
Abstract
The aim of the project is to propose measures to increase the attractiveness of public transport (PT) compared to individual automobile transport (IAT), evaluate their effectiveness in model scenarios to determine the choice of transportation mode towards PT and thus towards energy and emissions savings (PM2,5, NOx, CO2). Motives and factors determining behaviour and decision-making regarding the use of PT and IAT, in the area of operation of IDS JMK will be identified, content and visualization of messages to support transition ot PT will be formulated. The project will use questionnaire surveys, eye-tracking experiments, transportation and emission models for evaluation. The reduction of externalities from emission production and savings in social costs created by IAT will be calculated.
GA ČR Standard GA24-10317S: Optimization in European Business Groups: Group leverage distribution, use of tax shields, assets stripping, and profit transfers
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- Principal investigator: prof. RNDr. Jan Hanousek, CSc.
- Project duration: 01/2024—12/2026
- Registration number: 24-10317S
Abstract
We plan to use extensive pan-European data to analyze business groups (BG) approach to vital corporate decisions (leverage, investment, and payouts). We aim to disentangle the individual firm vs. the group optimization framework. We aim to utilize the longest possible panel of European ownership structures to account for BG heterogeneity and understand the role of a particular firm within the BG. Therefore, we can explore how they evolved after the global crisis (2008-2010) and during the contemporary crisis related to COVID-19. The target areas cover corporate finance and organizational theories, optimal capital structure, accounting practices aimed at tax optimization/avoidance, and the evolution of the groups as a response to external global and local shocks. The European Commission is aware of the impacts of the BG, as they control sizeable parts of EU economies. Therefore, it issued hundreds of directives to increase the transparency of firm ownership. Depending on specific results, the main policy issues will cover tax shields, transfer pricing, auditor role, tax heavens, etc.
GA ČR Standard GA 23-07983S: Corporate social behavior and responses to CSR policies, institutions, and economic distress, coordinato
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- Principal investigator: doc. Ing. Svatopluk Kapounek, Ph.D.
- Project duration: 01/2023—12/2025
- Registration number: 23-07983S
Abstract
The project investigates the impact of public CSR policies on corporate social behavior enhanced by the presence of democratic institutions and social trust. Moreover, we critically assess CSR performances to avoid contradictions between declared values and actual behaviour. We explore firm specific factors which motivate firms to declare CSR activities without complying with CSR norms. We put special emphasize to firm employment policy during the global economic recessions and brand activism.
European Parliament European Coservatives and Reformists Group, Impact of Green Deal on food availability for three income groups in the EU
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- Project duration: 01/2023—12/2023
Abstract
Political actions have consequences. EU Green Deal, and its legislation and related actions, will certainly impact the EU, its economy, and the well-being of EU citizens. Furthermore, EU Green Deal will have a global impact. The goal of this expert study could measure the impact of the LULUCF-related legislations that is about to enter in force, on the population in terms of at least three dimensions (companies, capacities, population). An important part of this expert study will be policy recommendations and implications, targeted mainly to the Members of the European Parliament, but not only, and their work.
GA ČR Standard GA 22-34451S: New Methods in Pricing Government Debt: Uncertainty and Policy Implications
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- Principal investigator: Assoc. Prof. Katrin Rabitsch, Ph.D.
- Project duration: 01/2022—12/2024
- Registration number: 22-34451S
Abstract
The project investigates the role of government policy uncertainty in driving the asset prices. We build our analysis on a variant of macro-finance DSGE model matching both macro and finance stylized facts. We focus on the uncertainty stemming from the future evolution of productivity, preferences, monetary policy and we show that the important role is played by uncertainty coming from the government spending. We also show that the existence and magnitude of convenience yield depends on the type of government policy. We put special emphasis on explaining the attributes of the equilibrium bond prices. In addition, we also examine the impact of uncertainty on institutional environment and transmission of macrofinance shocks by addressing the effects of increasing uncertainty related to the future government debt.