Corporate Loans and Czexit on Euro-Koruna

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F46747885%3A24310%2F17%3A00004169" target="_blank" >RIV/46747885:24310/17:00004169 - isvavai.cz</a>
Result on the web
<a href="http://www.lef-tul.cz/sekce/LEF_2017.pdf" target="_blank" >http://www.lef-tul.cz/sekce/LEF_2017.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Corporate Loans and Czexit on Euro-Koruna
Original language description
The Czech Republic has recently experienced extraordinary situation on the financial market when after three years the Czech central bank left its intervention regime on the euro/Czech koruna currency pair. There was predicted that after Czexit the Czech koruna shall strengthen against euro by approximately 5% in one year. Combination of loan denominated in euros and strengthening koruna may result in decreasing interest payments. The aim of this article was, based on the data from the Czech National Bank about corporate loans denominated in Czech koruna and euros, to reveal what strategy non-financial corporations chose before Czexit regarding their debt-loan policy. There was expected a statistically significant negative correlation between the amount of loans denominated in koruna and loans in euros. In order to verify this hypothesis, we tested these two time series by correlation analysis. From the conducted research we can state that in the whole observed period our assumption was not confirmed. Both time series developed in similar ways. As we shortened the time series toward the end of interventions negative correlation between loans denominated in CZK and in EUR occurred.
Czech name
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Czech description
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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