National Repository of Grey Literature 11 records found  1 - 10next  jump to record: Search took 0.02 seconds. 
Three Essays on Central European Foreign Exchange Markets
Moravcová, Michala ; Horváth, Roman (advisor) ; Komárek, Luboš (referee) ; Baumohl, Eduard (referee) ; Pappas, Vasileios (referee)
This dissertation thesis consists of three essays on new EU foreign exchange markets (FX), i.e. the Czech koruna, Polish zloty and Hungarian forint. In the first two essays, the impact of foreign macroeconomic news announcements and central banks' monetary policy settings on the value and volatility of examined exchange rates is analyzed. In the third chapter, the conditional comovements and volatility spillovers on new EU FX markets is examined. The aim of this thesis is to contribute to the existing empirical literature by providing new evidence of the examined currencies during periods, which have not been examined yet (after the Global financial crisis (GFC), during the EU debt crisis and during currency interventions in the Czech Republic). The first essay (Chapter 2) examines the impact of Eurozone/Germany and US macroeconomic news announcements and monetary policy settings of the ECB and the Fed on the value of new EU member states' currencies. It is a complex analysis of 1-minute intraday dataset performed by event study methodology (ESM). We observe different reactions of exchange rates in pair with the US dollar on the US macroeconomic announcements and Euro-expressed FX rates on Germany macro news during the EU debt crisis and after it. We also provide evidence of leaking news, showing...
Sustainable Development Goal 7: Affordable and Clean Energy Panel Data Analysis
Křížková, Alžběta ; Cahlík, Tomáš (advisor) ; Moravcová, Michala (referee)
This thesis analyses the seventh Sustainable Development Goal: Affordable and Clean Energy. Four empirical models are built, each for one indicator. They are then evaluated using panel data analysis for all member states of the UN. The research question it seeks to answer is: "What characteristics have major impact on providing electric energy and other energy related benefits?" We found that in most of the cases, the proportion of urban population and the Human Development Index have a major impact on the indicators. Unlike any previous study dealing with similar topics, this paper analyses the whole goal with its four indicators, not just one particular energy aspect. That allows us to look for interconnection and common features between indicators and their influences.
Electronic Records of Sales and Their Implementation in the Czech Republic
Mach, Petr ; Chytilová, Julie (advisor) ; Moravcová, Michala (referee)
The subject of this thesis is electronic records of sales and its implementation in the Czech Republic. Because one of the main goals is to improve tax collection the first part of the theoretical section of the thesis is devoted to a brief introduction to taxes and specifically the value-added tax. The second part of the theoretical section is describing the specifics of the Czech version of electronic records of sales. First, a few models of records of sales are described and which of them was chosen and why. Then this model is described in detail, including who has to abide by it, what sales they have to record and some of the technical aspects of the system. A part is also dedicated to the associated receipt lottery. The practical section of the thesis is devoted to answering the question if the introduction of electronic records of sales in the Czech Republic was justified, based on fulfillment of its initial goals. The main goals were to increase the tax revenue and lowering the size of the shadow economy. Apart from these goals, the practical section is also evaluating the costs of the whole project and also some public concerns are addressed. The thesis ends with a brief look at the future of records of sales in the Czech Republic.
Econometric Analysis of Inequality
Munduch, Pavel ; Cahlík, Tomáš (advisor) ; Moravcová, Michala (referee)
This bachelor thesis aims to explore the contemporary issue of income inequali- ty/equality in European context. Exploring the already existing literature and looking at unbalanced panel data from 41 European countries and observa- tions from the 1992-2014 period, this works seeks for anysystematic evidence of causal determinants in regards to incresing or reducing income inequality. Variables such economic growth, education, religion, tax, democracy or corrup- tion are included in the analysis. After carrying out the process of choosing fitting model, testing for serial correlation or heteroskedasticity and applying robust errors, the significant effects turned to be present in trade, taxes, cor- ruption and democracy areas. Implying that increase in trade to GDP ratio, improvingdemocracy,fightingcorruptionandincreasedtaxincomesresultin lower income inequality. JEL Classification Keywords income inequality, Gini coefficient, econometrics Author's e-mail pavelmunduch@gmail.com Supervisor's e-mail cahlik@fsv.cuni.cz
How Smart will be Europe 2020? A Panel Data Analysis.
Marková, Veronika ; Cahlík, Tomáš (advisor) ; Moravcová, Michala (referee)
This thesis analyses the targets for education under Europe 2020 strategy - early leavers from education and tertiary education attainment. The main objective is to predict the future development for these indicators up to 2020 and answer the question whether these targets will be fulfilled. From the empirical perspective, it applies econometric analysis of panel data based on human capital theory, that relates the education level of an individual with the parental education and the labour market conditions.
The impact of ECB communication on selected financial markets in eurozone
Luková, Veronika ; Moravcová, Michala (advisor) ; Hauzr, Marek (referee)
This thesis investigates the impact of the European central bank communication and macroeconomic news announcements on the price and volatility of selected financial markets. We examine the stock markets of Germany and countries of PIGS (Portugal, Italy, Greece, Spain), we selected the stock indices as the financial assets, we employed the GARCH (1,1) and EGARCH (1,1) models. Main result was that the communication of ECB has significant impact on the volatility of all examined stock markets. Volatilities of German and Italian stock markets are the most influenced ones. Volatility of Portugal stock market is the least influenced one. The ECB's communication affects also the level of examined stock markets except Portugal stock market. Our re­ sults also confirmed that the macroeconomic announcements have significant impact on the volatility, but they have no fundamental impact on the level of these stock markets. 1
Scrutinizing Parametric Value-at-Risk Measure under Real-World Assumptions
Rusá, Zuzana ; Parrák, Radovan (advisor) ; Moravcová, Michala (referee)
The thesis compares an industry-standard parametric Value-at-Risk estimate with alternative approaches. The intention of the thesis is to find out, whether, or to what extent can the inappropriate assumption of normally distributed returns influence the Value-at-Risk estimate. We used the exceedance rate as a back-testing procedure in order to test the accuracy of parametric Value-at-Risk estimate. We look whether the exceedance rate of the estimates approaches the given confidence level or not. We contrasted the parametric measure to its historical and Monte Carlo counterparts. The latter assumes Student's t-distribution as an example of a fat-tailed distribution, because the estimate of tails is crucial for the accuracy of Value-at-Risk estimate.
The Impact of Macroeconomic News on the Price of Financial Assets
Říha, Jakub ; Moravcová, Michala (advisor) ; Džmuráňová, Hana (referee)
This thesis investigates the effect of Czech macroeconomic news announcements and Czech National Bank (CNB) communication on the price of financial assets and its volatility. As the financial assets we selected the EUR/CZK and USD/CZK exchange rates and also the Prague stock PX Index. To analyze the aforesaid effect we employed the GARCH (1,1) and EGARCH (1,1) models, each with Normal and Student's t error distribution. The main results were that the CNB's communication indeed have significant effect on the price of all three examined assets and surprisingly also tend to increase their volatility. Also the macroeconomic announcements significantly influence examined assets however significant macroeconomic indicators differ for each asset. The most influencing ones are: CPI, 1YPRIBOR and the unemployment rate. Another finding of our research was that volatility of examined time series data shows the characteristics of leverage effect, volatility clustering and persistence. Powered by TCPDF (www.tcpdf.org)
Does the choice of method of forecast of index stock returns and the choice of investment strategy depend on index's industry affiliation?
Dobryashkina, Victoria ; Moravcová, Michala (advisor) ; Benčík, Daniel (referee)
Bibliography Reference DOBRYASHKINA, Victoria. Does the choice of method of forecast of index stock returns and the choice of investment strategy depend on index's industry affiliation? Prague 2015. 57 pages. Bachelor thesis (Bc.) Charles University, Faculty of Social Science, Institute of Economic Studies. Supervisor Michala Moravcova. Author's Email: Dobryashkina@gmail.com Supervisor's Email: Moravcovamichala@gmail.com Abstract The purpose of this thesis is to analyze and reveal if there is any dependence of index stock return valuation method on index's industry affiliation. The question about profitable strategy to react to valuation method's forecasts is also investigated. I focus on three methods of valuation: technical analysis, time series forecast and combination of rules from both technical and times series forecast rules, and test them on 10 Dow Jones Industrial Indices. Double-or-out strategy is compared to buy-and-hold strategy by estimation of its excess return. I found no dependence of choice of method on index's industry affiliation. However, the double-or-out strategy was proved to outperform buy-and-hold strategy in all of the industries. Keywords Stock Valuation Methods, Trend Prediction Analyses, Technical analysis, Fundamental analysis, Methods of valuation, Time series forecast,...

National Repository of Grey Literature : 11 records found   1 - 10next  jump to record:
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