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Dealing with potential break up of Economic and Monetary Union
Shpitontsev, Leonid ; Brůna, Karel (advisor) ; Kučera, Lukáš (referee)
The main principle of the thesis is to address issues concerning structural problems of Economic and Monetary Union (EMU) and assess economical impact of its potential break up. This in turn implies the need to discuss certain issues. Firstly, since the EMU is based on the concept of Optimal Currency Area (OCA); I start my research with the test whether EMU in its current structure fits the definition of OCA. Secondly, I provide the extensive study on the reasons of current crisis in order to understand the root causes. Thirdly, I assess the potential implications of different ways out of the current sovereign debt crisis.
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Internal audit in ČEZ, a. s.
Bravená, Helena ; Dvořáček, Jiří (advisor) ; Kučera, Lubomír (referee)
The aim of this Master's Thesis is to describe an internal audit procedure in multinational company ČEZ, a. s., on the fictional sample of internal audit. The Master's Thesis is divided into theoretical and practical part. The theoretical part focuses on describing the basic concepts and processes of internal audit in general. The practical part deals with the internal audit process in a company which generate and sell electricity and heat. After studying company's documents related to internal audit was carried out fictitious internal audit. The main products of this audit are documents named Assignment of Audit and Final Report. Materials dealing with process of internal audit in this company are on high level and there wasn't any problem in performance of fictitious internal audit.
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Net inventory investment and its importance in business cycle
Kučera, Lukáš ; Mirvald, Michal (advisor) ; Chytilová, Helena (referee)
Cyclical component of aggregate net inventory investment in Czech republic between I.quarter 1996 and IV.quarter 2010 can be described by Production smoothing model, which says, that it is more advantageous for firms to absorb shocks of their product demand into inventories than to adjust their production permanently. This statement stands on a discovery, that cyclical component of net inventory investment is negativelly corralated with cyclical component of final sales and at the same time variability of cyclical component of final sales is higher than cyclical component of production (GDP). Although it is not possible to expect that every firm in the economy will behave according to this model, it seems, with respect to the analysis, that the cost of adjustment is one of the most important factors considered by firms within their optimalization problem.
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Legal aspects of the impact of internal audit and its role in the group CEZ
Drábková, Tereza ; Dvořáček, Jiří (advisor) ; Kučera, Lubomír (referee)
The aim of this Master's thesis is to evaluate the model of internal audit in CEZ Group primarily in terms of compliance with applicable laws and the International Professional Practices Framework of Internal Auditing. The research was conducted by comparing the internal regulations and other CEZ Group's documents with current legislation and international Standards of internal audit. As expected, the main criteria are in accordance with current legislation. The main contribution of this model is cost-effective executing of internal audit and sharing the best practice across the CEZ Group. I think, main disadvantages are: dependence on the Board and CEO of CEZ, insufficient use of experts outside the CEZ Group, excluding profit from the price calculation of internal audit and certain conditions for the provision of internal audit services in subsidiaries.
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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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The marketing analysis of guest loyalty program implementation at Grand Hotel Zvon
KUČERA, Lukáš
The diploma thesis is dealing with a topic of hospitality, a natural part of the services sector. Under the conditions of a constant development and ever-increasing competition there is necessary for hospitality industry enterprises to impress upon their customers their unique features and quality. Customers always seek a higher quality of services provided, individualization of services, logically they always look for the highest return of their investments. One of partial aims of this diploma thesis was an analysis of preferences of guests in a context of concept and implementation of a loyalty program. Other partial aim was to analyze indoor and outdoor attributes of the hotel. Marketing and management methods of SWOT analysis, questionnaire etc. have been used to achieve these aims. The main aim of this diploma thesis was to propose an optimal structure of the loyalty program for guests. The program must respect guests{\crq} wishes and needs while remaining financially acceptable for the hotel. A questionnaire has been used to detect the preferences of guests which then formed the basis of proposed loyalty program. Setting the conditions and principles of loyalty program membership was the next step to achieve the main aim. Finally, a detailed calculation of every item and benefit used in the loyalty program was created.
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The devolopment of the structure of foreign exchange market in the Czech Republic
Kučera, Lukáš ; Kuncl, Martin (advisor)
Foreign exchange market in the Czech Republic has not existed for a long time in the form as how we know it today. It started to develop after the fall of socialism and it had to catch up everything that the world foreign exchange market already have gone through. It was necessary to pass through several periods which were for developement very specific. The structure of the market was also changing, mainly the instruments. In the beginning there was interest only for spot operations, the more the market was developing it focused more on the term operations-derivatives. Today we meet transactions dealt mainly for speculation, hedging or just because of lack of likvidity of another currency. These transactions can be for example outright forward, FX swap, options or futures.
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Management and implementation of project procedure in educational system
Vrbová, Zuzana ; Švecová, Lenka (advisor) ; Kučera, Ladislav (referee)
In my final thesis I focus on process and implementation of project procedure. The main aim of this thesis is to show possibilities of how to work with projects in the nonprofit field of educational resort. The opening part is a summary of six chapters. I tried to summarize my own, as well as other theoretical knowledge and basic information concerning the branch of the project procedure, which are important for the following practical part of the thesis. I deal with individual phases of the project procedure, in which I explain terms such as project framework, the lifecycle of project, evaluation methods of projects, the use of information technology, risks that might appear in project procedure etc. Further in my thesis, which is very important, I focus on possibilities of project fundraising in schools. I present basic information about The European Business Academy in Decin, where I am employed. I also deal with options that teachers and students have to extend their education abroad, so called "the mobility of students and teachers". The main part of my thesis includes projects which are being prepared at The European Business Academy in Decin. As an example, I enclose a project which was conducted by students together with teachers and its implementation into use. The second project is a project objective which was not implemented. The third project is being processed and the fourth one has been approved. Another aim of my thesis is to show to other schools how to work with projects and give them a guideline how to involve not only teachers or other employees but also students. Since 2010 students of the final grade will create team projects and the process and defence of the project will be included in the final school-leaving examination.
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