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Using financial derivatives in government debt risk management
Kučera, Lukáš ; Blahová, Naděžda (advisor) ; Brůna, Karel (referee)
This diploma thesis deals with possible usage of financial derivatives in context of government debt risk management, mainly in the Czech Republic. After the opening analysis of government debt development, the thesis describes risks, which are involved in government debt management. After that it handles with quantification of those risks and of their possible securing, especially with respect to financial derivatives usage. This thesis tries to answer the question, whether using financial derivatives in government debt management is reasonable. To solve this I used an analysis of 2010 data, in which I compare profitability of emission of classical bonds compared to emission of so called structured instruments, i.e. joint of classical bond and financial derivative. In conclusion of thesis there is usage of financial derivatives confronted with their negative characteristics as well as with cases of their abuse.
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Danger of Over-indebtedness to the Czech low-income Households
Kovář, Jan ; Půlpánová, Stanislava (advisor)
At first the bachelor thesis discusses the meaning of the term over-indebtedness in the Czech Republic. It is defined as such a financial situation when the subject is unable to fullfill its financial obligations. The work furthermore represents possible solutions for people who found themselves in this situation. The second part examines whether the 20 % of households with the lowest income are more threatend than the others in a few last years and whether they are leading to a debt trap. It deals with the comparison of basic data, which are revenues, expenses, debts and savings among different income groups and also among a few last years. Main conclusion of the thesis is that the financial position of this group of Czech households is stable and not leading to over-indebtedness.
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Meaning of debts in the capital structure of czech companies
Wiedová, Zuzana ; Marek, Petr (advisor) ; Makovec, Martin (referee)
The goal of this thesis is the analysis of indebtedness in czech industrial companies. I try to describe the situation in particular sectors during years 2001 - 2008. The important part of this thesis is statistical chapter. There I look for relations among economic factors and also create the simple regression model. I found out the positive change of ratios, however in the year 2008 the financial crisis influenced the czech economy, which had the impact on particular sectors. I proved that the correlation between return on assets and debt ratio exists and also the model for the estimated interest rate works.
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Boom in the weapon production in Czechoslovakia in the 1930s
Pejsar, Adam ; Skřivan, Aleš (advisor) ; Chalupecký, Petr (referee)
The position and history of the Czechoslovak Republic played a key role in its decision to focus on the weapon industry during the interwar period. Given the unstable situation in the newly emerged countries in the Central European region and with respect to the tradition of a heavy-weapon production, Czechoslovakia began to produce arms on a much larger scale. The increasing armament in 1930s was not even stopped by the Great Depression. Furthermore, weapon production helped the country to report higher exports and boosted the otherwise stagnating economy. The boom in the weapon production came during 1934-1938. Due to the quality of Czechoslovak arms and the high demand for them abroad, the Czechoslovak total export showed at least a slight increasing trend during this period. Nevertheless, large public expenditures in this sector had to be covered by augmenting public debt and increased tax rates.
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Loans and Debts
Koubková, Jana ; Pokorný, Pavel (advisor) ; Pokorná, Magdalena (referee)
This bachelor thesis deals with loans and debts. The first section describes loans and credits. There are presented simple calculations relating to the loans. The thesis also mentions the impact of financial crisis on loans. The second part deals with the debts. The main emphasis is on personal bankruptcy, which is analyzed in detail. Part of this work is also a chapter devoted to the registers of debtors. Thesis focuses more on personal entities; legal entities and the state are mentioned only in passing.
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Analýza vývoje federálního dluhu v USA
Cigler, Roman ; Izák, Vratislav (advisor)
Práce popisuje vývoj federálního dluhu ve Spojených státech amerických - stručně do roku 1981, poté podrobněji. Týká se prezidentů Reagana, Clintona, Bushe sr. a Bushe jr. V každém roce období 1981 - 2005 je analyzován federální rozpočet - zda vznikl přebytek či deficit, včetně analýzy vývoje federálních příjmů a federálních výdajů. V práci je také obsažen odhadovaný vývoj pro léta 2007 - 2012.
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Central government deficit financing via issues of bonds
Novák, Alexander ; Radová, Jarmila (advisor) ; Veselá, Jitka (referee)
This diploma thesis surveys debt instruments used in OECD and European Union member countries for financing central government deficits and the techniques of selling government bonds. The volume and structure of the central government deficit and debt in the Czech Republic as well as organization of debt management office are subjected to a detailed analysis. Debt management accomplishments are confronted with the set out strategy and its objectives. The thesis also consists of the characteristics of securities in use (treasury bills, medium-term and long-term government bonds) as well as of legal regulations of auctions by which the securities are placed on the domestic market. An independent subchapter is dedicated to foreign issues of bonds.
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