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Hedging of a bond portfolio
Kolář, Adam ; Stádník, Bohumil (advisor) ; Kábrt, Tomáš (referee)
The aim of this bachelor thesis is to describe, apply and subsequently analyse the effectiveness of several hedging strategies used when cross-hedging a bond portfolio with futures contracts. The theoretical part of this work is devoted to a general description of characteristics of bonds and futures and, also to basic knowledge of interest rate risk hedging. In the empirical part of this thesis, a bond portfolio is complied, utilising market data, and subsequently it is secured with futures contracts using three different hedging strategies. At the end of the practical part, the effectiveness of each applied strategy is compared. The results of the empirical analysis support, that using the applied strategies when cross-hedging a bond portfolio with futures contracts is in most cases effective.
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Comparison of the Czech and German insurance market
Poverjuc, Corina ; Ducháčková, Eva (advisor) ; Kábrt, Tomáš (referee)
This thesis focuses on the latest development trends and the degree of the Czech and German insurance market and their comparison. In this thesis were presented the following indicators of the insurance market: written premiums, claims expenses, concentration of insurance market, insurance penetration, relation between claims expenses and written premiums, and some more additional indicators, as the number of insurance companies, employees, insurance contracts, premium per capita. In the first chapter I described the theory related to this topic. I tried to analyze, as exactly as possible, the development of the Czech and German insurance market in the second and the third chapter. This analyze was based on statistical data. After that I realized subsequently their comparison. All data was obtained from the following internet sources: Czech Insurance Association (ČAP), Swiss Re, Czech National Bank, German Insurance Association (GDV).
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The analysis of Basel III banking regulation in relationship to the banking sectors of EU countries
Mitrik, Lukáš ; Fleischmann, Luboš (advisor) ; Kábrt, Tomáš (referee)
This bachelor thesis describes the topic of banking regulation with emphasis on the most recent regulatory standard Basel 3. Planned outcome of this thesis is identification and evaluation of impact on European banking sector and also specifically on sectors of Czech Republic and Slovakia. The first thoretical part of this work simply explains basic principles and knowledge of overall regulation, organizational structure of European regulatory framework, shortcomings of Basel 2 and main focus is on Basel 3 and its three pillar structure. Second, more practical, part consists of analysis of impact studies issued by EBA and also national regulators (central banks) of both countries. Finally, according to available data coming from these documents, impact on banks is evaluated. Overall results show that Basel 3 has got positive impact on all analysed sectors. None of observed subjects shows problems with compliance with required criteria.
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The comparison of Russian, Kazakhstanian and Belarusian stock exchanges
Almenova, Ariadna ; Veselá, Jitka (advisor) ; Kábrt, Tomáš (referee)
The topic of the bachelor thesis is the comparison of stock exhanges within the post- Soviet countries: Russia, Kazakhstan and Belarus. In the first part of the work, the stock exchanges are compared in terms of history, organization structure and membership conditions. The following part is focused on comparing such characteristics as trading methods, the market segmentation and trading settlement according to the individual stock exchange. The rest of the research is dedicated to the analysis of the trade volumes, the number of securities issued and the market capitalization. Furthermore, the last chapter discusses the indeces and analyses its development over the time period.
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Analysis and development of US and UK investment banking
Jurčišin, Rastislav ; Musílek, Petr (advisor) ; Kábrt, Tomáš (referee)
The aim of the bachelor thesis "Analysis and development of US and UK investment banking" is primarily to provide a unified view of the issue of investment banking in the global notion and then to compare its developments in England and the USA. The thesis will gradually follow the historic development of investment banking and what regulation and legislative changes has gone through until the present. The main focus of this bachelor thesis will be on the situation in the USA and England before the fall of Lehman Brothers and during the financial crisis in 2008 along with the situation that followed. At the end of this work, there is comparation of four selected banks, two from the USA and two from England, describing their different behaviors during the crisis or the bank itself, looking at different aspects, such as the country of origin.
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The fundamental analysis of the company Pegas Nonwovens
Hladík, Josef ; Kábrt, Tomáš (advisor) ; Cibulka, Jakub (referee)
This bachelor thesis is dedicated to the fundamental analysis of the company Pegas Nonwovens. The purpose was to execute global, industrial and company fundamental analysis and to determine intrinsic value of the stock. Based on the previous, the aim was to suggest an investment recommendation. On global level I analyzed the relationship between the development of significant macroeconomic factors and the stock value. In the industrial part of the analysis I examined the characteristics of nonwovens industry, such as market structure or influence of regulatory authorities. In part dedicated to company fundamental analysis I dealt with calculation of intrinsic value by various methods. Based on the whole analysis and calculated intrinsic value I suggested an investment recommendation, according to which is the stock of Pegas Nonwovens underestimated and suitable for buying.
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Analysis of insurance portfolio of insurance broker
Války, Patrik ; Ducháčková, Eva (advisor) ; Kábrt, Tomáš (referee)
Bachelor thesis focuses on entrepreneurship in insurance brokerage, more precisely on activity of specific company which provides consultancy and non-life insurance brokerage primary on Slovak market. The main objective of bachelor thesis is analysis of insurance portfolio followed by a formulation of recommendation, which may lead to maximisation of commission earned for insurance brokerage in future. In the thesis, we use multi-criteria analysis, in which insurance portfolio and received commission are analysed by several criteria (insurance company, insurance product, age of insurance contract, frequency of due of premium payment).
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Changes of conception in life insurance
Babický, Toni ; Ducháčková, Eva (advisor) ; Kábrt, Tomáš (referee)
The thesis deals with complex questions of life insurance primarily on the Czech insurance market. At the beginning of the work, life insurance is described from a theoretical point of view and its main characteristics and mechanisms are outlined. In the next step, the main topics, which have the most important place in life insurance, are analysed. It is comparison of the insurance in Europe. Then, it is current use of life insurance mainly for covering of the short-term income in case of health problems. It also deals with the opinion of young people on insurance and with approach of ordinary people to the health form connected with a new contract. For the savings, there are capital and investment life insurance mentioned. The investment life insurance is the very important part because of the problems, which it has created in the last 15 years. The thesis also speaks about the possibilities of insurance for athletes. Finally, a small questionnaire had been completed by people on the street. Own contribution of the thesis is to demonstrate problematic parts of life insurance for the clients and explanation why it is so.
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Microinsurance
Ondrejková, Renáta ; Ducháčková, Eva (advisor) ; Kábrt, Tomáš (referee)
This bachelor thesis deals with microinsurance. The thesis is divided into 3 chapters. At the beginning, characteristics of it is discussed. Apart from, there is also history context and differences from traditional insurance. Then, microinsurance products are described. The last chapter describes growth and there is also analysis of some countries. Other important thing is technology revolution in microinsurance sector.
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