|
|
Kvantitativní uvolňování versus tzv."helicopter money" a jejich účinnost
Pyatova, Victoria ; Šíma, Ondřej (advisor) ; Hába, Stanislav (referee)
The bachelor thesis examines the impact of the Quantitative Easing on the economies such as the USA, the UK, and the Eurozone, it focuses on the economies conditions and structure that determine the size of the effect. As a result, the analysis has shown a limited impact of unconventional monetary policy in the Euro area as the banking sector performs very poorly comparing to the effective implementation in the US and the UK, where the main role of asset allocation was given to financial market. The new concept called the Helicopter Money is introduced in the paper as a new method for Eurozone countries to boost economic development. The advantages and disadvantages of Helicopter Money are broadly discussed by well-known economists as well as the mechanism of its implementation. The macroeconomics models and theories were applied in order to give a closer look at this concept. The author of this paper sees the high potential for the Eurozone in a short and a long-term on condition that the money drop will be supported by corresponsive fiscal policy.
|
|
|
Testování technické analýzy na USD/JPY
Danilov, Evgenii ; Vejmělek, Jan (advisor) ; Šíma, Ondřej (referee)
The main objective of this thesis is to create a successful Forex trading strategy based only on chart patterns as an instrument of the technical analysis method. To fulfill the aim of the work, it is devided into two parts. Part One describes theoretical aspects of Forex trading such as basic terms and principles and gives the reader an insight into evaluation methods used on the market. There is an introduction to the technical analysis and a detailed explanation of the instruments used in this method. Part Two is dedicated to practical aspects of the work. There is the strategy compiling and its subsequent testing and analysis. Testing is made on real historical data from 2016. As an underlying instrument, the USD/JPY pair was chosen. The main contribution of the bachelor thesis is a detailed description of the strategy building process. It is also tested if the strategy based on chart patterns may be successful without using indicators as a supporting instrument.
|
|
|
Exchange rate risk management in the corporate sector
Strákoš, Michal ; Durčáková, Jaroslava (advisor) ; Šíma, Ondřej (referee)
The bachelor thesis focuses on the issue of exchange rate risk and the possibilities of its management in the corporate sphere. The aim of the thesis is to analyze implications of the Czech national bank's exchange rate commitment for the financial management of the export-oriented company on the hypothetical data. The benefit of the thesis is the comparison of different hedging opportunities offered by Czech banks and also the possibilities and impacts of hedging under different foreign exchange arrangements on the financial management in the microsphere.
|
|
|
Euro adoption in Slovakia
Panáková, Patrícia ; Vejmělek, Jan (advisor) ; Šíma, Ondřej (referee)
The subject of the bachelor thesis is to describe the process of preparation and adoption of euro currency in the Slovak Republic. Slovakia showed a significant convergence to the euro area after joining the EU in 2004. Despite the worsening economic situation due to the global economic crisis, Slovakia did not have problems meeting the Maastricht convergence criteria. Long-standing and thorough preparation helped smooth transition from the Slovak crown to the euro. The Slovak Republic became the sixteenth member in the euro area on 1st January 2009. Currency change brought advantages and disadvantages to the banking sector. In the long run, banks lost a significant part of foreign exchange transactions, but on the other hand, they gained better access to the European interbank market.
|
|
|
Analysis of the impact of the financial crisis on Valbek EU a.s.
Dulák, Martin ; Brůna, Karel (advisor) ; Šíma, Ondřej (referee)
The theme of this Bachelor thesis is analysis of the impact of the financial crisis on the Valbek EU a.s. The first part is focused on causes and consequences of the economic crisis, the situation of companies in the Czech Republic during the crisis and the situation in the construction sector. The thesis also mentions anti-cyclical fiscal policy and steps, which the Czech Republic goverment made during this period. The last part of the theoretical part focuses on the risks in the construction sector, more specifically on economic and financial risks. The practical part is focused on the analysis of economic and financial risks by ratio indicators. The aim of my work is to analyze the possible risks (as a manager of the company) during the financial crisis and to compare the impact on companies from the Valbek EU a.s. holding in the Czech Republic and Slovakia Republic.
|
|
|
Hodnotové investování (Value Investing)
Kaňka, Matěj ; Vejmělek, Jan (advisor) ; Šíma, Ondřej (referee)
Bachelor thesis is focused on finding suitable investments in stocks and bonds based on evolution of value investing. Two main concepts of value investing are intrinsic value and margin of safety. Thesis includes theoretical knowledge of stocks and bonds investments as well as examples of investment strategies. The result is a guidance of how to apply theory on capital markets to achieve capital appreciation. During the research for a potential investment great emphasis is placed on investment idea. Investment story is based on qualitative and quantitative information. Key aspects of this thesis are to provide needed theoretical basics and practical examples of investment decision making. The examples may be used as a support during other investment analyses.
|
|
|
Too sovereign to fail
Bergerová, Tereza ; Šíma, Ondřej (advisor) ; Pour, Jiří (referee)
This bachelor thesis aims on a comparison of market and government failures. There are many causes of market failure. In this thesis, there are described externalities, monopoly, public goods and asymmetric information. Government failure may be caused by many factors, this work focuses on bureaucracy, lobbyists, rent-seeking and political and economic cycle. All these causes of market and government failures are shown on real instances. One chapter discusses a real case called H-System, which perfectly shows the compatibility of market and government failure. Very important is the comparison of the default of a government and a firm as well. When a firm goes bankrupt, it does not exist anymore. On the contrary, if a state defaults, it still exists. A state is too sovereign to fail - it is too strong, powerful and irreplaceable to fail.
|
|
|
Changes in the financial sector and their impact on economic development
Čigášová, Patrícia ; Šíma, Ondřej (advisor) ; Obešlo, František (referee)
The bachelor thesis consists of two chapters in which it describes the global financial crisis in connection with theory of division of economy into financial and real sector, and studies possible channels that could transmit problems between them. While analyzing the changes that have occurred in the last period and which contributed to larger spillover of the problems, a fact of developing extensive financial sector emerges. There are many cases of countries that have been extremely dependent on it, therefore little diversified, which could cause high volatility of consumption, GDP etc., since these indicators mirror movements of financial markets. These facts are related to the origin of offshore financial centers, which are also discussed in the thesis. Moreover, there is examined an issue of growth in banks´ assets and excessive providing of credit that leads to larger indebtedness of households. Rise of household debt has been still continuing even after the end of crisis, and is usually connected not only with financial deepening in emerging economies, but also with negative impact on future economic growth. Liabilities of financial institutions consist of high amount of wholesale funds, which resulted in growth of liquidity and systemic risk.
|
|
|
Does risk management influence performance of E-commerce SME’s?
Goncalves, António ; Brůna, Karel (advisor) ; Šíma, Ondřej (referee)
Global Savings Group - Rocket Internet SE venture currency risk management exposure. This thesis covers the theory around currency risk management, putting it into practice with the real case of GSG currency risk exposure. In the end I aim to verify if currency risk affects the performance of SMEs, and if such type of companies (in this case the GSG) are aware of such exposure and if they adopt any strategies in order to reduce such exposure.
|
|
|
Dynamics of Exchange Rates in Selected Emerging Markets in Risk-on/Risk-off Periods
Ivanov, David ; Brůna, Karel (advisor) ; Šíma, Ondřej (referee)
This thesis focuses on exchange rates dynamics in Mexico, Turkey and South Korea. We examine the capital flow development in mentioned countries and currency dynamics of the Mexican Peso, Turkish Lira and Korean Won. The main goal of the paper is to evaluate the performance of these currencies in risk-on and risk-off episodes on a sample period from 1997 until 2016. We use analysis and comparison as a methodology for this paper, emphasizing on the relationship and causality between capital flow and exchange rates. We shall reveal that the examined currencies depreciate in risk-off periods and only the Korean Won appreciates in risk-on periods.
|
guest ::
