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Changes in Supervision of Financial Market
Mazurová, Pavla ; Půlpánová, Stanislava (advisor)
The bachelor thesis deals with the institutional organisation of the financial supervision of the European financial market. The thesis is focused on the European Commission's proposals of the year 2009 for strengthening supervision by establishment of new all-European supervisory authorities. The point of this thesis is not only to describe structure and functions of new supervisory institutions, but also to express the Czech National Bank's attitude to the proposed architecture and to comment on disputed points. The final part of the thesis briefly describes the actual set-up of approval process for the proposals.
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Integration of regulation and supervision within the frame of European Union
Pittermannová, Eva ; Blahová, Naděžda (advisor)
This work concerned with the progressive integration of regulation and supervision within the frame of European Union. In the theoretical part there is basic determination of notions related with this theme, pro and con arguments and also development of regulation and supervision in Czech Republic. This part also contents beginning of economic integration in Europe and theme concerned with beginnings of integration regulation and supervision. The practical part concerned with modern form of regulation and supervision in European Union. Particularly I mention global analysis of J. de Larosiére report, specifying rating agencies.
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Causes and Consequences of Crises on Capital Markets
Ešner, Jan ; Dvořák, Pavel (advisor) ; Votava, Libor (referee)
I decided to dedicate my thesis to current crisis and to scrutinize reasons of the current crisis initiation. There is a theoretic point of view to the current crisis, in the first paragraph. Next paragraph has been dedicated to a scrutiny one of the previous crisis -- especially economic depression of the thirties. Following part is dedicated to the comprehensive September 2008 research and to the situation graduated afterwards. Last but not least has been described the position of International Monetary Fund. Main world market indexes have been scrutinized at the very end of the thesis, data have been compared and the results have been stipulated. There has been a complement in the thesis about the possibility for future development of the situation in real economy, as well as on the financial markets.
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Analysis of chosen saving and investment products on the czech financial market from the household´s point of view
Mošovská, Veronika ; Janáček, Kamil (advisor) ; Rybáček, Václav (referee)
The aim of this thesis is to describe particular financial products and compare them from the evaluation point of view. We also will review these products from the perspective of clients who differ in investment and saving attitude. We will focus on czech households and describe their habits in area of financial products and examine their behaviour during a time period in relation to phases of economic cycles and other exogenous variables. We also will describe functioning of financial system and focus on information asymmetry between houselholds and financial institutions. Further we will look at examples of moral hazard done by financial institutions. The conclusion of this thesis provides recommendations of suitable products for each client.
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New regulation of financial markets
Pokorný, Tomáš ; Munzi, Tomáš (advisor) ; Štěpánek, Pavel (referee)
In the entrance of my bachelor's thesis I'm going to try to determinate and divide financial market, explain expresions regulation, supervision and generall aims of the regulation and supervision of financial markets. I will be finding out why the world resorts for even bigger and more rigid regulation of financial markets, who seeks the most for the regulation or on the other hand who is afraid of it. Whether one of the reason of crisis was or was not lack of the regulation or if it was moral hazard and principles is still the big theoretical-practical issue. Whereas particular grouping such as United States of America and Eropean Union have different imagination how the regulation of financial markets should look like and that's why I will be interested in these individual concepts. The aim of my bachelor's thesis will evaluate new concepts of regulation provision.
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Ethics in financial advisory
Kubišta, Zdeněk ; Smrčka, Luboš (advisor) ; Svoboda, Václav (referee)
In my work I aimed to describe the history of Czech financial market and the regulatory institutions. I focused on the ethical dimension of czech financial advisors. The main outputs of my work are: 10 principles to get the right advisory service and own ethical codex, which will be used in my own advisory praxis.
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Agent based models of financial markets - rationality and social networks
Popadinec, Martin ; Burian, Jan (advisor) ; Berka, Petr (referee)
In the thesis we focus on involving Agent-based models in modeling financial markets. In Agent-based models of economical systems, often called Agent-based computational economics (ACE), market price is established by actions and interactions of autonomous agents using heuristics or simple decision-making rules. This approach to modeling of financial markets provide us with better understanding of establishing market price then aggregate economical models which focuses exclusively on societally "optimal" equilibria assuming that they are achieved by informed and rational behavior of people. The thesis consists of two main parts. The first one, theoretical, is an introduction to agent based modeling, bounded rationality and social network Our concern in the second part of the thesis is a model of volatility on financial markets. This model is interesting example of agent based approach to creating economical models. However it contains some non-realistic assumption from which the most controversial is the space where agents interacts -- two dimensional lattice. In this part of the work the model is converted from two dimensional lattice to the networks which better corresponds to real social networks but we also experiment with another extension of the agent's decision-making function. The intended outcome of the work is verifying the quality of the model, to learn the effect of our model extensions on price volatility, overview of attributes of the particular networks and discussion whether such models could provide some valuable information to the economist which are interested in financial markets.
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Regulation of entry into the Czech financial market
Masná, Kateřina ; Půlpánová, Stanislava (advisor) ; Hradil, Dušan (referee)
This diploma thesis is focused on the financial market supervision, especially on terms and conditions of entry into the financial market and the role of the Czech National Bank in this area. The thesis mentions some arguments for the need of financial market regulation and supervision and explains the importance of the quality licence system. There is also an analysis on institutional organization of financial market regulation and supervision and contemporary trends. The thesis compares and contrasts legislation on licences for different types of the financial institutions. Together with development of the financial market and the economic situation in the Czech Republic during the past 20 years (1989 -- 2009) the thesis also points out substantial changes and improvements in primary and secondary legislation in the area of licensing.
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Capital market and compare of the regulation and supervision in the Czech Republic and in the USA
Žemla, Martin ; Písař, Pavel (advisor) ; Ježek, Tomáš (referee)
Bachelor's thesis try to comprehensively describe the creation, development and functioning of capital market in the Czech Republic in the introductory part. It focuses on the integration of regulation and supervision of the financial market in the Czech Republic. It also mention the reasons for regulating the capital market. Describes the basic stages of the current development control system. It focuses on regulators and institutions operating in the U.S. market. In the next section compares the system of regulation and supervision of capital market and describes its advantages and disadvantages. Last but not least, the analytical part of work evaluat, on the basis of three hypotheses, the impact of regulation on the origins and conduct of the financial crisis. In conclusion, summarizes the development and tries to propose solutions in terms of regulation and supervision on the capital market, which would be most appropriate for the capital market.
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