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Analysis of impact of the credit derivatives market on current financial crisis and capital adequacy of the american banking holdings
Baigarin, Nadir ; Musílek, Petr (advisor) ; Revenda, Zbyněk (referee) ; Sosík, Petr (referee)
This dissertation analyzes key features of credit derivatives market, basic risks of the products and trends the market has experienced for several years since its inception, discusses regulatory issues of the market with regard to the Basel II treatment and key reasons for investors using credit derivatives. Dissertation also examines whether and how credit derivatives affected current financial turmoil, analyzes credit derivatives losses of selected institutions on the financial markets and compares them with total losses of these institutions. The main result of the work is that there was no substantial effect of the credit derivatives market on the current financial crisis. Dissertation also examines whether there is any connection between U.S. banks credit derivatives trades and their capital adequacy ratio. According to the analysis, there is no evidence for credit derivatives to essentially affect capital adequacy ratio of U.S. banks. A potential explanation for the higher values of U.S. banks' capital adequacy ratio may be that there are sophisticated risk management strategies banks have been implicating for many years.
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Ranking vybrané skupiny pojišťoven
Tesařík, Martin ; Neumaierová, Inka (advisor) ; Sosík, Petr (referee)
This thesis deals with the performance evaluation of a selected group of insurance companies. The text is divided into several parts and begins with the explanation of theoretical frameworks for both insurance and the ranking process. This knowledge is then applied to the object of analysis. Mainly the financial performance of insurers was assessed, by means of the so-called spread indicator. Hence, part of the analysis is also a cost of equity calculation with the help of the Capital Asset Pricing Model. The outcome of this work is the ranking of analyzed insurance companies by their financial performance in 2007-2009. The contribution of the work can be seen not only in forming the ranking, but in demonstration of a practical application of the chosen methodology as well as in description of its advantages and disadvantages.
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Asymmetry of information on insurance markets
Kokeš, Vratislav ; Daňhel, Jaroslav (advisor) ; Sosík, Petr (referee)
The work deals with the phenomenon of information asymmetry on the insurance markets. The aim of this work is to identify the information asymmetry as such and its specifics on the insurance markets, to describe and evaluate the possible procedures for its reduction and finally to estimate the future developments in this field. We use the study of the scientific literature, analysis of related legislation and insurance conditions of relevant insurance products and last but not least the author's own experience of work in the field of banking. There are described the procedures to reduce the information asymmetry such as the insurance legislation, possible modifications in the insurance conditions, information registers and expert systems.
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Audit of Life Insurance Companies
Maršálek, Tomáš ; Cipra, Tomáš (advisor) ; Sosík, Petr (referee)
Cílem této práce je poskytnout ucelený přehled o auditu životní pojišťovny, včetně náznaku praktických aspektů této činnosti. Smyslem je také zdůraznit význam a nezastupitelnou funkci externího auditu jako zákonné ?pojistky? důvěryhodnosti nejen pro vlastníky pojišťovny, ale zejména pro klienty, kteří se na pojišťovnu spoléhají v nejtěžších chvílích života a nemají znalosti ani možnosti sami si ověřit, zda-li je hospodaření pojišťovny v pořádku a jejich peněžní prostředky v bezpečí
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