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Analysis of the privatization process in Russia in the nineties
Mustivaya, Julia ; Mlčoch, Lubomír (advisor) ; Půlpán, Karel (referee)
This work aims after more than twenty five years to assess the processes of privatization, which took place at the end of the twentieth century in Russia. Analysis of the privatization, its legal framework, realization and the consequences will enable us to conclude that a change of ownership form from state to private one alone does not guarantee the emergence of effective owner and proper functioning of the market economy. Privatization of state enterprises could have a positive impact on economic activities of entities only if it was accompanied by the necessary institutional transformation, which would provide a precise specification of property rights, the creation of the actual mechanisms of their exchange and the emergence of market competition.
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Crude oil co-movement with other representatives of energy and non-energy commodity markets
Mustivaya, Julia ; Baruník, Jozef (advisor) ; Jánský, Ivo (referee)
Financialization of crude oil and its frequent inclusion into investment portfo- lios raise the demand for proper correlation estimates of this commodity and other financial assets. This thesis particularly examines the co-movement of crude oil price with prices of four other representatives of commodity market (gasoline, natural gas, gold and Industrials Index). It contributes to the exist- ing literature by the results obtained from application of wavelet coherence, which allows uncovering dynamics of interconnection between commodity prices in time as well as over different frequencies. Analysis brings many in- teresting findings and practical implications. Among others, it specifies the investment horizons that should be considered to maximize diversification properties of studied commodities. 1
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Analysis of the privatization process in Russia in the nineties
Mustivaya, Julia ; Půlpán, Karel (referee) ; Mlčoch, Lubomír (advisor)
This work aims after more than twenty five years to assess the processes of privatization, which took place at the end of the twentieth century in Russia. Analysis of the privatization, its legal framework, realization and the consequences will enable us to conclude that a change of ownership form from state to private one alone does not guarantee the emergence of effective owner and proper functioning of the market economy. Privatization of state enterprises could have a positive impact on economic activities of entities only if it was accompanied by the necessary institutional transformation, which would provide a precise specification of property rights, the creation of the actual mechanisms of their exchange and the emergence of market competition.
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