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Diffuse x-ray scattering from GaN epitaxial layers
Barchuk, Mykhailo ; Holý, Václav (advisor) ; Caha, Ondřej (referee) ; Pietsch, Ulrich (referee)
Real structure of heteroepitaxial GaN and AlGaN layers is studied by diffuse x-ray scattering. A new developed method based on Monte Carlo simulation enabling to determine densities of threading dislocations in c-plane GaN and stacking faults in a-plane GaN is presented. The results of Monte Carlo simulations are compared with ones obtained by use of other conventional techniques. The advantages and limitations of the new method are discussed in detail. The methods accuracy is estimated as about 15%. We have shown that our method is a reliable tool for threading dislocations and stacking faults densities determination.
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Option pricing under stochastic volatility
Khmelevskiy, Vadim ; Fičura, Milan (advisor) ; Janda, Karel (referee)
This master's thesis focuses on the problem area of option pricing under stochastic volatility. The theoretical part includes terms that are essential for understanding the problem area of option pricing and explains particular models for both option pricing under stochastic volatility and those under constant volatility. The application of described models is performed in the practical part of the thesis. After that particular models are compared to the real data.
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Valuation of PEBAL s.r.o.
Turza, Vladimír ; Brabenec, Tomáš (advisor) ; Keselý, Ladislav (referee)
The thesis aims to determine the equity value of the company PEBAL s. r. o. as of January 1st 2016. It is not separated into theoretical and practical part, because it is considered as fake appraisal of an expert. That is the reason why the whole thesis is practical with occasional theoretical background explanations. In the first part there is basic information provided about the appraised company along with its characteristics. Then financial analysis is carried out which will provide an overall picture of financial health of the company along with determination of competitors. Followed by strategical analysis which deals with the market as whole and predicts its future development as well as development of sales of the valued company. The next part consists of analysing and predicting value drivers and the overall financial plan. Result of the last part is the valuation itself applying discounted cash flow (DCF) method using discounts rate calculated earlier in the chapter. The final chapter also contains market valuation using method of comparable companies along with Monte Carlo simulation, that provides probability distribution of the value of the company.
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Risk analysis of the company Prestar's business plan
Bartoň, Daniel ; Špička, Jindřich (advisor) ; Vacík, Emil (referee)
The goal of this thesis is to compile a strategic business plan of the company Prestar and to identify and evaluate corresponding risks. A substantial part of the turnover is generated by business activities in Russia which recently exhibits unstable development. Strategic analysis is conducted based on the findings, key risk factors are identified and an estimate of the enterprise value based on discounted cash flow is calculated. Finally the influence of the identified risk factors on the enterprise value is simulated using the Monte Carlo method. The key risk factors include wage growth rate, development of sales generated in Russia and the exchange rate.
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An application of computing methods to maximize the performance of money management systems
Michalko, Miroslav ; Chovanec, Patrik (referee) ; Škapa, Stanislav (advisor)
This bachelor work is concerned with the development of Windows application for stock and futures traders that is designed to help maximize the performance of trading systems and discretionary trading methods. The application is suggested primarily for individual traders but can be used by small businesses as well as general public. With the application investor will be able to gain confidence in his trading by identifying the unique strengths and weaknesses of trading system or method and adapting his trading accordingly. The result is a higher percentage of winning trades, lower drawdown, more consistent returns and greater profitability.
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Coulomb Interactions in Electron Beams in the Vicinity of a Schottky and Cold Field Emission Sources
Liška, Ivo ; Kotačka, Libor (referee) ; Radlička, Tomáš (referee) ; Lencová, Bohumila (advisor)
Dizertační práce se zabývá problematikou výpočtu vlivu coulombovských interakcí částic na parametry emitovaného elektronového svazku v blízkosti Schottkyho a studené katody. Práce poskytuje základní předhled o problematice, popisuje vytvořené modely emisních zdrojů a metodu simulace Monte Carlo. Představuje novou metodu generování vstupních dat, která klade větší důraz na přesnou simulaci emisního procesu. Pozornost je zde věnována zejména vlivu interakcí na energiovou šířku, velikost virtuálního zdroje a jas katody v závislosti na velikosti poloměru hrotu a emisním proudu. Sledováním vývoje energiové šířky bylo zjištěno, že naprostá většina interakcí se odehrává v prostoru do několika mikrometrů od hrotu katody. Závislost spočtené celkové energiové šířky na úhlové intenzitě je ve shodě s dostupnými experimentálními daty. Spočtené energiové rozšíření vlivem coulombovských interakcí bylo srovnáno s hodnotami vypočtenými pomocí vzorců založených na analytických přiblíženích. Bylo zjištěno, že některé z nich přijatelně předpovídají trendy ale nemohou být použity pro kvantitativní odhad.
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Analysis of Economic Risk of Investment Project
Malý, Lukáš ; Holá, Michaela (referee) ; Hromádka, Vít (advisor)
This thesis focuses on considering of the investor economic risk during the preparation of the investment project including the financial plan, its evaluation and suggestions of proposals for risk reduction. Correct decisions on implementation or rejection of the project are based on the realistic financial plan. However, expenses and revenues are only implied and are burdened with some variability that leads to the risk of failure to achieve the planned values. To assess the acceptability of certain risks for the investor, an analysis of risk factors was conducted. The factors are first identified for their significance and potential negative impact, then the most risk factors are evaluated and determined whether it is necessary to further tracking or the risk to the investor is acceptable.
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Application of Monte Carlo simulation in risk management
Pelešková, Kateřina ; Teplý, Petr (advisor) ; Stádník, Bohumil (referee)
The global financial crisis of 2008, which forced the central banks around the world to defend a financial stability by using non-standard instruments such as quantitative easing, has resulted in, among other things, the fall of the interest rates to zero, and even to negative values in some countries, which has become the new normal in banking field. In this thesis, we focused on the Czech financial market, and we used the method of Monte Carlo simulation in the Vasicek model for the prediction of the future development of interest rates, both short and long maturities. The model shows that in the short term the rates may fall to negative values, but the prediction shows rising interest rates up to their own equilibrium. The 3-months and 6-months rates show surprisingly uncharacteristic behavior, where their long-term decline and higher volatility caused calculation of the equilibrium as a negative value in the Vasicek model. Than we apply the results in the model for calculating changes in the prices of bonds, which are negatively correlated with the interest rates, and we explore the repricing costs for the bondholders. Also, we will show that commercial banks may control the impact of the interest rate risk on capital by composition of financial assets in various categories, where the accounting classification of the instrument is critical to revaluation of the capital.
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Valuation of the company operating in the chemical industry
Winter, Lukáš ; Strouhal, Jiří (advisor) ; Pavelcová, Kamila (referee)
The aim of the thesis is to valuate a company operating in the chemical industry using the income valuation approach as of January 1, 2015. At first, the company valuated will be analyzed from the perspective of strategic and financial analysis. Subsequently an opinion on the future prospects of the company will be issued, and provided that all the criteria needed for the usage of discounted cash flow methods are met, the company will be valuated using Discounted Cash Flows method, Economic Value Added method and Capitalization of earnings method. Book value method will be used as an additional method of valuation. In conclusion, a summary valuation of the company will be carried out, which will be subjected to a risk analysis using Monte Carlo simulation method.
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