C12 - Hypothesis Testing: GeneralNávrat zpět

The following work should briefly outline environmental conditions for innovative entrepreneurs and start-ups in an area of information and telecommunication technologies, conditions in the Czech Republic and present research of the effect of subsidies on innovative companies and innovation results. Although some studies show correlations among subsidies in ICT, innovations and economic growth, it is usually reflected only in some industry sectors and in some stage of economy evolution. Or there is a correlation only if there are also other fulfilled conditions as investments into human resources. In general, studies mostly yield evidence of strong positive correlations between ICT areas and economic growth in modern economies as it participates in the reduction of transaction costs, increases production factor productivity and creates completely new solutions for current problems.

The article presents the analysis of the shopping behaviour of customers on "business to business" markets. The aim of this article is to describe the influence of shopping behaviour of organisations on setting the price of assets. The article compares two surveys carried out in the period of three years (from 2009 to 2011). Another aim of this article is to provide criteria that influence purchasing behaviour of customers which, thus affect the pricing of assets. The research showed that for assessing the value of property, the most important aspects are in operational reliability and operating costs. Valuation of assets in Czech financial accounting is based on the principle of a cost history. For the monetary valuation of assets, what is most important is the original cost of that asset. An organisation sees a problem with assessing cost, when its accounting value is minimal. This property is functional and it is necessary to reevaluate those assets in actual value for the purpose of managerial accounting. Expression of fair value of assets affects shopping behaviour of customers when they are buying assets and making decisions according to their own property criteria. The amount of value given to an asset is determined by how it meets their need, respectively, their criteria.

Článok sa zaoberá rovnovážnym modelom CAPM s cieľom formulovať a testovať hypotézu, ktorú by takýto rovnovážny model mal potvrdzovať s ohľadom na jeho použiteľnosť. Preskúmali sme hypotézu, či stratégie rozdelenia aktív s ohľadom na relatívnu mieru rizika (Beta) za dlhšie časové obdobie sú v súlade s modernou teóriou portfólia, a teda aj modelom CAPM. Vzhľadom k tomu sme formulovali hypotézu, že vyššie riziko, vyjadrené prostredníctvom Beta koeficientu, je asociované s vyššou mierou výnosnosti, a že táto výnosnosť je významne lineárne závislá na nezávislej premennej. Pre testovanie hypotézy sme na empirických údajoch aplikovali dvojicu testov modelu CAPM, a to Sharpeho a Cooperov test a test od Blacka, Jensena a Scholesa.