Working papers


Would you like to get feedback on your manuscript before you try to publish it in a journal? The Research Centre of the Faculty of Business and Economics at Mendel University in Brno encourages Ph.D. students, young researchers as well as experienced academics to submit their manuscript in the form of working paper to MENDELU Working Papers in Business and Economics. Faculty of Business and Economics is a member of RePEc (Research Papers in Economics) - the largest bibliographic database dedicated to economics. The copyrights remain at the authors' side. Accordingly, the working papers do not prevent from any further publication intentions of the manuscript in scientific journals. The manuscripts of all fields of economics, business and management can be considered for publication in working papers series.

How to submit


Send your working paper to the executive editor Luděk Kouba ( according to the instructions below.

In order to identify the papers and articles you have authored, please, send with the working paper your RePEc Author Number.  

If you are not registered and would like to be listed as well, register at the RePEc Author Service:


Instructions for authors are available here

The template in Word is available here

The template in LaTeX is available here

Working papers are available on


List of working papers



  • Working paper No. 95/2024:

    Bergh, A., Bjornskov, Ch., Kouba, L. (2024). The Growth Consequences of Socialism

  • Working paper No. 94/2024:

    Franc, A., Kukuckova, S., Litzman M. (2024). Too far to go to work? Examining the effect of changes in the time taken to commute on regional unemployment

  • Working paper No. 93/2024:

    Madr, M., Naplava, R. (2024). Retail Sale in Non-Specialised Stores in the Czech Republic



  • Working paper No. 92/2023:

    Hanousek, J. Jr., Hanousek, J., Sokolov, K. (2023). X Bots and Earnings Announcements

  • Working paper No. 91/2023:

    Estrin, S., Hanousek, J., Shamshur, A. (2023). Does it matter who owns firms? Evidence on the impact of supermajority control on private firms in Europe

  • Working paper No. 90/2023:

    Hanousek, J. Jr., Hanousek, J., Mikulka, J., Williams, J. (2023). Early Outcomes and Future Risk-taking: Evidence from a Large Gambling Provider

  • Working paper No. 89/2023:

    Valovic, R. (2023). A Robustness Analysis of Newspaper-based Indices

  • Working paper No. 88/2023:

    Albrecht, P. (2023). Spillover effects between commodities and the Australian dollar

  • Working paper No. 87/2023:

    Drabek, M., Pastorek, D. (2023). The impact of ownership structure on the market value of companies in response to COVID-19

  • Working paper No. 86/2023:

    Mlcuchova, M. (2023). BEFIT - Formulary Apportionment in the European Union

  • Working paper No. 85/2023:

    Vanek, P. (2023). The Demographics of World’ Largest Corporations: Focus on the Different Region Levels



  • Working paper No. 84/2022:

    Rolnik, O. (2022). The influence of economic disparities of regions on political polarization in Czech Republic

  • Working paper No. 83/2022:

    Vanek, P. (2022). Aspects of Measuring Firm-Level Multinationality

  • Working paper No. 82/2022:

    Zalesakova, K. (2022). Stock market development as a leading indicator of future economic growth in the BRICS countries

  • Working paper No. 81/2022:

    Pastorek, D., Drabek, M., Albrecht, P. (2022). Confirmation of T+35 Failures-To-Deliver Cycles: Evidence from GameStop Corp

  • Working paper No. 80/2022:

    Mlcuchova, M. (2022). A Review of Platform Business Models

  • Working paper No. 79/2022:

    Adamisinova, A. (2022). European Space Traffic Management System: Micrometeoroids and space debris as a possible threat for future missions

  • Working paper No. 78/2022:

    Horak, I. (2022). The Competitiveness Outlook of the European Agriculture with the new Green Deal Policy



  • Working paper No. 77/2021:

    Hanousek, J., Pantzalis, Ch., Park, J. Ch. (2021). Political Insider Trading: A narrow versus comprehensive approach

  • Working paper No. 76/2021:

    Bradley, D., Hanousek, J., Jame, R., Xiao, Z. (2021). Place your bets? The market consequences of investment advice on Reddit’s Wallstreetbets



  • Working paper No. 75/2018:

    Kapounek, S., Kucerova, Z. (2018). Historical Decoupling in the EU: Evidence from Time-Frequency Analysis

  • Working paper No. 74/2018:

    Huber, P., Montag, J. (2018). Homeownership, Political Participation, and Social Capital in Post- Communist Countries and Western Europe

  • Working paper No. 73/2018:

    Vanek, P., Korab, P. (2018). Determinants of Deposit and Credit Euroization in Eastern Europe: A Bayesian Model Averaging Evidence



  • Working paper No. 72/2017:

    Hrabalova, E., Vavrova, E., Hampel, D. (2017). New approaches to regulating insurance markets in the European Union in the aftermath of the financial crisis

  • Working paper No. 71/2017:

    Bukovina, J. (2017). The attention of a society towards corporate brand name and its determinants within the information-rich economy



  • Working paper No. 70/2016:

    Madr, M. (2016). Economic Development as a Factor of Democratisation: Evidence from Post-Socialist Economies

  • Working paper No. 69/2016:

    Kapounek, S. (2016). The Impact of Institutional Quality on Bank Lending Activity: Evidence from Bayesian Model Averaging

  • Working paper No. 68/2016:

    Korab, P. (2016). Access to Credit and Unconventional Monetary policy in the Eurozone after the Financial Crisis

  • Working paper No. 67/2016:

    Darena, F., Petrovsky, J., Zizka, J., Prichystal, J. (2016). Analyzing the correlation between online texts and stock price movements at micro-level using machine learning

  • Working paper No. 66/2016:

    Obeng, I. K. E. (2016). Delaying payments after the financial crisis: evidence from EU companies

  • Working paper No. 65/2016:

    Darena, F., Zizka, J. (2016). Ensembles of Classifiers for Parallel Categorization of Large Number of Text Documents Expressing Opinions

  • Working paper No. 64/2016:

    Olbrecht, V. (2016). Harmonised Standards and Firm Productivity: Difference-in-Differences Evidence 

  • Working paper No. 63/2016:

    Kajurova, V., Hvozdenska, J. (2016). Linkages between CDS, bond and stock markets: Evidence from Europe

  • Working paper No. 62/2016:

    Stejskalova, J. (2016). Impact of the information on tax burden on the stock market

  • Working paper No. 61/2016:

    Olbrecht, V. (2016). Effect of the Service Directive on Wholesale and Retail Companies: Diff in Diff in Diff Evidence

  • Working paper No. 60/2016:

    Krutilova, V. (2016). Access to Health Care and the Out-of-Pocket Burden of the European Elderly
  • Working paper No. 59/2016:
    Bremberger, F., Hochholzer, R., Huber, P. (2016).  Labour turnover, employment density and employer provided training: Evidence from Vienna
  • Working paper No. 58/2016:
    Bukovina, J., Marticek, M. (2016)Sentiment and Bitcoin Volatility
  • Working paper No. 57/2016:
    Bukovina, J. (2016). Social Media and Capital Markets – an Overview



  • Working paper No. 56/2015:
    Bukovina, J. (2015). Sentiment of a society and large-cap stock liquidity
  • Working paper No. 55/2015:
    Lastuvkova, J. (2015). Dimensions of liquidity and their factors in the Slovenian banking sector
  • Working paper No. 54/2015:
    Semerad, P. (2015). How to stop VAT frauds on the fuel market: a usual price rule
  • Working paper No. 53/2015:
    Bukovina, J. (2015). Sentiment and blue-chip returns. Firm level evidence from a dynamic threshold model
  • Working paper No. 52/2015:
    Gottwald, R. (2015). The Forecasting of Spot Exchange Rates Based on the Forward Exchange Rates
  • Working paper No. 51/2015:
    Laštůvková, J. (2015). Determinants of the Slovak bank liquidity flows



  • Working paper No. 50/2014:
    Reznakova, L., Kapounek, S. (2014). Is There a Credit Crunch in the Czech Republic?
  • Working paper No. 49/2014:
    Stavárek, D., Miglietti, C. (2014). Effective Exchange Rates in Central and Eastern European Countries: Cyclicality and Relationship with Macroeconomic Fundamentals
  • Working paper No. 48/2014:
    Huber, P., Rahimov, U. (2014). Formal and Informal Sector Wage Differences in Transition Economies: Evidence from Tajikistan
  • Working paper No. 47/2014:
    Laštůvková, J. (2014). Liquidity management strategies in the Czech banking sector
  • Working paper No. 46/2014:
    Kouba, L., Pitlik, H. (2014). I wanna live my life: Locus of Control and Support for the Welfare State
  • Working paper No. 45/2014:
    Kučerová, Z., Poměnková, J. (2014). Financial and Trade Integration of Selected EU Regions: Dynamic Correlation and Wavelet Approach
  • Working paper No. 44/2014:
    Kapounek, S., Králová, J. (2014). Financial Instability and Money Velocity: Evidence from Financial Crisis
  • Working paper No. 43/2014:
    Montag, J. (2014). What Drives the Gender Gap? An Analysis Using Sexual Orientation.



  • Working paper No. 42/2013:
    Aiginger, K., Firgo, M., Huber, P. (2013). What can the EMU's peripheral counties learn from regional growth?
  • Working paper No. 41/2013:
    Pfeiffer, S., Semerad, P. (2013). Missing Trader Fraud in European VAT
  • Working paper No. 40/2013:
    Montag, J. (2013). Is Pro-Labor Law Pro-Women? Evidence from India
  • Working paper No. 39/2013:
    Montag, J. (2013). A radical change in traffic law: effects on fatalities in the Czech Republic
  • Working paper No. 38/2013:
    Kouba, L., Grochová, L. (2013). The European Welfare State from the Prospect of New EU Member States
  • Working paper No. 37/2013:
    Kouba, L., Rozmahel, P. (2013). Mismatch on the Labour Market in the CENTROPE Region
  • Working paper No. 36/2013:
    Koráb, P., Kapounek, S. (2013). International Fisher Effect under Exchange Rate Regime Shifts: Evidence from 10 Examples
  • Working paper No. 35/2013:
    Huber, P., Bock-Schappelwein, J. (2013). The Impact of Migration Policy on Migrants' Education Structure: Evidence from an Austrian Policy Reform
  • Working paper No. 34/2013:
    Otáhal, T. (2013). Mises, Hayek and Corruption
  • Working paper No. 33/2013:
    Růžičková, K. (2013). The agricultural companies and their value spread within the Visegrad Group
  • Working paper No. 32/2013:
    Růžičková, K., Koráb, P. (2013). Does horizontal cooperation create value? A residual income approach application on Czech agricultural data



  • Working paper No. 31/2012:
    Kapounek, S., Poměnková, J. (2012). The Endogenity of Optimum Currency Arreas Criteria in the Context of Financial Crisis: Evidence from Time-Frequency Domain Analysis
  • Working paper No. 30/2012:
    Gottwald, R. (2012). Value at Risk Model Used to Stock Prices Prediction
  • Working paper No. 29/2012:
    Růžičková, K., Vavřina, J. (2012). Measurement of agricultural producers' groups performance: Background, features and objectives
  • Working paper No. 28/2012:
    Poměnková, J., Kapounek, S. (2012). Heterogeneous distribution of money supply across the euro area
  • Working paper No. 27/2012:
    Bohušová, H., Svoboda, P., Valouch, P. (2012). IFRS for SMEs: What will the implementation of IFRS for SME bring for timber industry?
  • Working paper No. 26/2012:
    Rozmahel, P., Najman, N. (2012). Continuing Integration in Europe? Some empirical evidence on European industrial production cycle
  • Working paper No. 25/2012:
    Palát, M., Wawrosz, P., Otáhal, T. (2012). What is the contribution of the theory of redistribution systems to the theory of corruption?
  • Working paper No. 24/2012:
    Grochová, L., Otáhal, T. (2012). Corruption, Rule of Law, and Economic Efficiency: Virginia vs. Chicago Public Choice Theories
  • Working paper No. 23/2012:
    Koráb, P. (2012). European Wine Policy and Perceptions of Moravian Winemakers: Theoretical Background with an Empirical Study
  • Working paper No. 22/2012:
    Kapounek, S., Poměnková, J. (2012). Spurious synchronization of business cycles: Dynamic correlation analysis of V4 countries
  • Working paper No. 21/2012:
    Otáhal, T., Valenčík, R. (2012). The Anatomy of Error in Decision-making of Rationally Behaving Agents from the Perspective of the Theory of Bounded Rationality: Extension for Contextual Games
  • Working paper No. 20/2012:
    Ryglová, K., Vajčnerová, I. (2012). Possible Complex Approaches Towards Evaluating the Quality of a Destination in the Context of Tourism
  • Working paper No. 19/2012:
    Stávková, J., Birčiaková, N., Turčinková, J. (2012). Material Deprivation in Selected EU Countries according to EU SILC Income Statistics
  • Working paper No. 18/2012:
    Machay, M. (2012). The Principle of Population for the 21st Century: The Never Coming Stationary State



  • Working paper No. 17/2011:
    Stavárek, D. (2011). European exchange rates volatility and its asymmetrical components during the financial crisis
  • Working paper No. 16/2011:
    Nerudová, D. (2011). Taxing the financial sector in the European Union
  • Working paper No. 15/2011:
    Grochová, L., Kouba, L. (2011). Is Elite Political Stability a Necessary Condition for Economic Growth? An Empirical Evidence from the Baltic States
  • Working paper No. 14/2011:
    Otáhal, T., Rybáček, V. (2011). Can Tight and Centralized Financial Regulation Prevent Financial Crises? Czech Government Bond Seignorage in the Historical Perspective
  • Working paper No. 13/2011:
    Grochová, L., Otáhal, T. (2011). Corruption, Rule of Law, and Economic Efficiency: Selected Anecdotic Evidence of Bureaucratic Corruption from the Czech and Slovak Republics
  • Working paper No. 12/2011:
    Kapounek, S. (2011). Monetary Policy Implementation in the Eurozone-- the Concept of Endogenous Money
  • Working paper No. 11/2011:
    Dařena, F., Žižka, J. (2011). Approaches to samples selection for machine learning based classification of textual data
  • Working paper No. 10/2011:
    Janová, J. (2011). A stochastic programming model of the sowing plan with crop succession restrictions
  • Working paper No. 9/2011:
    Nerudová, D., Solilová, V. (2011). Transfer pricing at glass, porcelain and ceramic industry
  • Working paper No. 8/2011:
    Otáhal, T. (2011). Rent-Seeking Origins of Central Banks: The Case of the Federal Reserve System
  • Working paper No. 7/2011:
    Poměnková, J., Maršálek, R. (2011). Time and frequency domain in the business cycle structure
  • Working paper No. 6/2011:
    Rozmahel, P., Najman, N. (2011). Business Cycle Similarity Measuring in the Eurozone Member and Candidate Countries: an Alternative Approach
  • Working paper No. 5/2011:
    Kapounek, S., Lacina, L. (2011). Inflation Perception and Anticipation Gaps in the Eurozone
  • Working paper No. 4/2011:
    Grochová, L., Otáhal, T. (2011). Corruption in the Czech and the Slovak Republics: Did the EU Pressure Improve Legal Enforcement?
  • Working paper No. 3/2011:
    Žižka, J., Svoboda, A. and Dařena, F. (2011). Machine Learning-Based Search for Similar Unstructured Text Entries Using Only a Few Positive Samples with Ranking by Similarity



  • Working paper No. 2/2010:
    Abramuszkinová Pavlíková, E. (2010). International Migration and New Mobility Trends
  • Working paper No. 1/2010:
    Grochová, L., Kouba, L. (2010). Elite Political Instability and Economic Growth: An Empirical Evidence from the Baltic States