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Mortgage loans and their analysis on the Czech Republic market
Vrublová, Eva ; Brada, Jaroslav (advisor)
This thesis deals with mortgage loans and their analysis on the Czech Republic market. In the first part legal aspects regulating mortgage loans are mentioned, followed by the fundamental characteristic and essence of mortgage loans and value of clients problems in the end of this part. The second part is focused on advantages and disadvantages which mortgage loans provide. Mainly low interest rates, tax allowance and other possibilities of advantages provided by the state are stated. The last part deals with analysis of mortgage products of four banks. The analysis compares interest rates, bank loan amount, fixation period, charges and bank's approach to value of clients. The complete evaluation is made by two fictive households applying for mortgage loan, each with different criteria. The objective of my thesis is to choose the most optimal mortgage loan for these two households.
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Eurasian FOREX markets
Sadykova, Albina ; Brada, Jaroslav (advisor)
This thesis is mainly concerned with comparison of European and Asian Forex markets in terms of their regulation and services given by brokers and other financial institutions, and currency pairs which are mainly traded in certain domestic currency markets. The first part of thesis is presented with the foreign exchange market including its characteristics and features of its evolution and with explanation of the basic concepts of the trade and investment in it. The second part describes important characteristics and particularities of the relationships between Forex brokers and their clients. In this part process how to retail traders participate indirectly through brokers or banks in global exchange market is explained; in this part also includes description of possible risks related with this special type of trading.
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Dynamic Financial Market Model
Stádník, Bohumil ; Musílek, Petr (advisor) ; Brada, Jaroslav (referee) ; Zmeškal, Zdeněk (referee)
The correct model of a liquid financial market is one of the most important matter for a management of all financial market activities including for example a stock or bond porfolio management or an asset pricing. Clear random walk models, which consider a market price/yield development on liquid financial markets to be a random walk within the meaning of a symmetric normal (gaussian) distribution, is very useful to explain quite accurately many financial market effects. If we study financial markets more closely, we recognize that such development can be partly causal and a clear random walk is only a special case of it. Dynamic Financial Market Model considers feedback processes on financial markets which cause an dependence in a probability of next price/yield step direction and also expects mix of random processes as a final result. Both effects cause not gaussian (normal) observations in probability distributions of finacial instruments and this is why the model is also able to explain for example effects like thin or fat tails and other deformations in the probability distribution. S&P500 index or Euro Bund futures probability distribution on daily basis are good examples of the diversion from normality.
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ETF funds
Veselovský, Eduard ; Brada, Jaroslav (advisor) ; Šedivý, Jan (referee)
This thesis deals with exchange traded funds (ETFs). The goal is to explain how different kinds of ETFs work and to find out whether some of them operate inefficiently when it comes to following their benchmarks. The thesis describes the collective investments industry, characteristics and valuation of ETFs, and compares the performance of chosen commodity funds among themselves as well as to their benchmarks. The thesis reaches an interesting conclusion.
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Securitisation and its impact on bank risk management
Kováč, Michal ; Brada, Jaroslav (advisor)
This bachelor's thesis describes a process of securitization from the perspective of banks.Close look is also paid to the benefits and risks associated with securitization. The conclusion gives a picture of the importance of securitization in terms of regulatory requirements for banks with help standardized methods and and IRB method.
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Securitised assets and their reflection in accounting
Hřebíček, Michael ; Brada, Jaroslav (advisor)
The aim of this thesis is the description of securitised assets and their accounting. The thesis is divided into four chapters. First deals with the securitisation process and the creation of securitised assets. Second chapter deals with the accounting of debt securities in general. Third chapter reflects the fair value. The fourth chapter deals with specific problematic fields and their impact on financial institutions and their balance sheets.
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Investing in Business Cycles
Mynář, Jan ; Brada, Jaroslav (advisor) ; Pech, Václav (referee)
This paper considers the problematic of business cycles. The author aggregates historical findings and development of opinions of business cycles. Author also evaluates methods of business cycle measurements with the use of economic indicators, including their analysis and understanding of their logic. Goal of the paper is to find a way to analyze economic cycles for use in asset allocation for portfolio management purposes.
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Financial analysis of the firm HOCHTIEF CZ a. s.
Vacek, Tomáš ; Mikan, Pavel (advisor) ; Brada, Jaroslav (referee)
The main subject of this project is an analysis of the firm HOCHTIEF CZ a. s. It was necessary to use many methods and procedures to find an interesting and relevant conclusion. The most important are: vertical and horizontal analysis, balance sheet method, index indicators, difference indicators, economic normals, pyramidal analysis, value index, bankruptcy models and comparison with branches. The first part of this project is an describe of this firm and there is an general essay about financial analysis in the second part of it. The third part of the text describes particular methods which are used in the fourth part.
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Monetary and fiscal response to the financial crisis
Babušák, Martin ; Brada, Jaroslav (advisor) ; Osička, Štěpán (referee)
The thesis summaries and compares adopted measures in the area of monetary and fiscal policy in response to the financial crisis in years 2007-2010. In the area of monetary policy, the most important measures of Federal Reserve System and European Central Bank are summarised and compared. In the area of fiscal policy, the thesis sums up and compares the reaction of the government of the United States of America and the Federal Republic of Germany.
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Inflation, unemployment, Phillips curve
Foltýn, Ondřej ; Brada, Jaroslav (advisor) ; Langer, Miroslav (referee)
The topic of my publication is Inflation, unemployment, Phillips curve.In first part, there are a principles about inflation and unemployment. There are a definition, dividing, NAIRU and nature rate of unemployment. In the second part, there are a analyses about types of Phillips curves. There are a Phillips model, Samuelson-Solow model, Friedman (Phelps)model, Lucas model, NKPC. There is a analyse of inflation and unemployment. In the last part, there are a analyses of PC in Czech Republic and theory of extreme rate of unemployment influence inflation.
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