Journal of Economics - Obsahy ročníkov

This paper examines the impact of news regarding the spread of the coronavirus on stock market returns. We investigate this impact across different geographical regions and behavioral aspects through regression analysis. Specifically, we explore the relationship between stock returns and factors such as investors’ attention, the number of new positive COVID-19 cases and deaths, and government measures implemented during the pandemic. Our findings reveal that news concerning new deaths associated with the virus and attention towards the vaccine significantly affected stock markets in Europe, the United States, and globally. Notably, these effects were observed prior to the approval of the first vaccine. However, our analysis does not confirm these results for the Japanese and Chinese stock markets. As a result, we argue that the Japanese stock market presents an opportunity for diversification during similar shocks. These findings contribute to a deeper understanding of the dynamics between public health crises and financial markets.

The purpose of our article is to assess the effect of diverse indicators pertaining to government quality and risk on fiscal pressure. The analysis focuses on 14 emerging countries in the European Union from 2002 to 2020. The results reveal that public governance indicators account for 51 percent of the variance in fiscal pressure, with the quality of regulations, corruption, and rule of law indicators having the most significant impact. This empirical study addresses an essential concern for policymakers, specifical-ly the quality of public governance and its subsequent influence on fiscal pressure, with direct repercussions on the lives of citizens.

In previous decades, we could see significant growth of population in suburban areas in the Czech Republic, which was connected with significant environmental, social, and economic costs. As the rapid suburbanisation continues, the better understanding of its determinants and estimation of their effects become necessary. In this article, we test the suitability of popular monocentric city model for analysing suburbanization processes in polycentric areas in the Czech Republic, which led to employing data for Czech districts (NUTS 4) in the period 2010 – 2019. The results show that the monocentric city model is suitable for analysing suburbanization in the Czech districts (represented by suburban land growth), as all its determinants (population size, unemployment, and commute costs) with the exception of price of building plots were found to be statistically significant and with expected signs. Moreover, the alternative operationalization of the model provided evidence on the robustness of the results and heterogeneity analysis revealed interesting differences between districts different in urbanisation level and other characteristics. The application of spatial regression revealed a statistically significant spatial spillover effect of the unemployment.

Changes in approach of management of organizations to human resource management in generations Y and Z are also a very significant trend. An organization must use all possible stimulation tools to ensure knowledge continuity and to help with effective knowledge sharing between generations and support sustainable business. The goal of this article is to identify the benefits that an organization derives from ensuring knowledge continuity, and to identify the strategic documents of an organization that support it and support sustainable business. Data were obtained using quantitative research within selected Czech companies (n = 207) and qualitative research (8 interviews and one focus group). The results showed that 69.6% of the surveyed organizations ensure the knowledge continuity between generations of employees to some (varying) degree, which is influenced by the existence of a human resources management strategy (56.0%) and of an appropriately set organizational culture strategy (52.7%).