National Repository of Grey Literature 100 records found  1 - 10nextend  jump to record: Search took 0.00 seconds. 
Three Essays on Corporate Financial Misconduct and Market Reactions
de Batz de Trenquelléon, Laure ; Kočenda, Evžen (advisor) ; Havránek, Tomáš (referee) ; Brůna, Karel (referee) ; Karpoff, Jonathan M. (referee)
Chapter 1 Summary of the Dissertation "We are in the golden age of fraud." Jim Chanos, Kynikos Associates, Financial Times 24/07/2020. Beyond the speculations about the consecutive waves of Covid, 2020 will be reminded for one of the most notorious failures of a listed firm, due to a massive accounting fraud: the German payment fintech Wirecard. The firm, with 30 subsidiaries in 26 countries, joined the prestigious DAX index just two years before. The spillovers of the billion-euro fraud range from the arrest of top managers to suspicion of auditors, politicians, and regulatory authorities (BaFin, European Commission, and ESMA), as suggested the Financial Times headline "Why was Frankfurt so blind for so long?"1 Such a failure serves as a reminder of the relevance of financial markets regulation, oversight, and enforcement, in order to protect investors and to encourage compliance with regulations. Research on the relationship between the publication of financial misconducts and financial performance for corporates has continuously grown, as illustrated by the recent in- depth literature reviews undergone by Amiram et al. (2018) and Liu and Yawson (2020). It is fueling regulatory debates on how to enforce more efficiently financial regulations. Some specificities of white-collar crimes must be accounted for...
The effects of quantitative easing on the USA, Japan, Eurozone and Great Britain
Novoselova, Ksenia ; Brůna, Karel (advisor) ; Jakl, Jakub (referee)
This master thesis aims to describe problematics of the effects of unconventional monetary policy, also known as quantitative easing, on economics of USA, Japan, Eurozone and Great Britain, by using empirical analysis of events related to quantitative easing and large BVAR model. In theoretical part of the thesis there are described transmission mechanisms of conventional monetary policy still effective in conditions of interest rates close to zero, as well as channels of unconventional monetary policy. Practical part of the thesis demonstrates analysis of impact of events related to quantitative easing in all the in-scope economics by applying a method of empirical observation of interest rates reactions on every event. Further, based on the received results of the empirical analysis, broader economic effects of quantitative easing are examined by using large BVAR model and afterwards the conclusion is made.
Capital adequacy of Czech banks in the context of macro-prudential policy
Janoušek, Adam ; Brůna, Karel (advisor) ; Gevorgyan, Kristine (referee)
The theme of this diploma thesis is the capital adequacy of Czech banks in the context of macro-prudential policy. The aim of this diploma thesis is quantitative and qualitative analysis of the capital ratios of the Czech banking sector in the context of Basel III and CRD IV capital regulation. The work for the selected period analyzes the development of the capital structure of the Czech banking sector as a whole and for individual segments of banks. The work also focuses on the determinants that influenced the capital changes in addition to the change in the volume of capital itself. The resistance of the banking sector to the unfavorable development of the financial system is analyzed through the stress tests of the Czech National Bank.
The transmission mechanism of the monetary policy impact on the Czech banking sector
Bohovicová, Petra ; Brůna, Karel (advisor) ; Jakl, Jakub (referee)
This thesis analyzes the impact of the monetary policy of the Czech Republic on the Czech banking sector. It explains the monetary transmission mechanism in an inflation targeting regime and its channels: interest rates channel, asset price channel, exchange rate channel and credit channel. The aim of the thesis is to introduce and analyze channels of the Czech transmission mechanism by Correlation and Graphical Analysis of chosen time series and using Linear Regression Model. The analyses are calculated in MS Excel and Gretl.
Analysis of the currency crisis in Russia
Nikonova, Inga ; Brůna, Karel (advisor) ; Šíma, Ondřej (referee)
This bachelor thesis describes the financial crisis in the Russian Federation, which happened in 2014. The theoretical part covers the necessary general information concerning the financial crisis: the definition, the causes of the origin and the general theoretical models of the crisis. This section also describes two types of crisis indicators, more specifically deals with modern indicators and generalizes the effects of the currency crisis on the economy. The analytical part focuses on the analysis of the financial crisis in compliance with the theoretical part. In addition, the author performs an econometric analysis of the change of exchange rate change on the change of modern indicators and conducts a regression model. In conclusion, the author summarizes the impact of the recent currency crisis on various areas of the Russian economy.
Possibilities and Methods of Exchange Rate Risk Management
Cheuzova, Olga ; Brůna, Karel (advisor) ; Marková, Jana (referee)
The subject of this bachelor thesis Possibilities and Methods of Exchange Rate Risk Management is to understand how the exchange rate risk arises and how it can be managed, analysis of methods and options of exchange rate risk management and determination of exchange rate risk by the international stock company Orco Property Group S.A. which eliminates the unfavorable impacts of the development of individual of the functional currencies of the subsidiaries on the consolidated balance sheet. The first part focuses on the understanding of the course risk management process from a theoretical point of view. The second part introduces Orco, its financial analysis, analysis of its foreign exchange exposure and currency risk management.
Role Federálního Rezervního Systému v ekonomice USA
Selitrennikova, Irina ; Gevorgyan, Kristine (advisor) ; Brůna, Karel (referee)
The main goal of this bachelor thesis is to analyze the Central Bank of the United States, the Federal Reserve Bank, to define its role during two serious crises and to research changes occurred to FED's incomes. The thesis is divided into four chapters. The first chapter is dedicated to three entities which Federal Reserve consists of, the second one obtains the historical information about the reasons of its foundation and chronological chain of events preceding it. The Great Depression, The Great Recession and the actions of the FRS that were undertaken during these periods are described in the third chapter. After the recent crisis that occurred in 2008 the structure and amount of FED's incomes changed a lot. I devoted the fourth chapter of this bachelor thesis to the analysis of reasons of these changes and its consequences.
Analysis of the impact of the financial crisis on Valbek EU a.s.
Dulák, Martin ; Brůna, Karel (advisor) ; Šíma, Ondřej (referee)
The theme of this Bachelor thesis is analysis of the impact of the financial crisis on the Valbek EU a.s. The first part is focused on causes and consequences of the economic crisis, the situation of companies in the Czech Republic during the crisis and the situation in the construction sector. The thesis also mentions anti-cyclical fiscal policy and steps, which the Czech Republic goverment made during this period. The last part of the theoretical part focuses on the risks in the construction sector, more specifically on economic and financial risks. The practical part is focused on the analysis of economic and financial risks by ratio indicators. The aim of my work is to analyze the possible risks (as a manager of the company) during the financial crisis and to compare the impact on companies from the Valbek EU a.s. holding in the Czech Republic and Slovakia Republic.
Does risk management influence performance of E-commerce SME’s?
Goncalves, António ; Brůna, Karel (advisor) ; Šíma, Ondřej (referee)
Global Savings Group - Rocket Internet SE venture currency risk management exposure. This thesis covers the theory around currency risk management, putting it into practice with the real case of GSG currency risk exposure. In the end I aim to verify if currency risk affects the performance of SMEs, and if such type of companies (in this case the GSG) are aware of such exposure and if they adopt any strategies in order to reduce such exposure.
Financial Analysis and Valuation of Norwegian Air Shuttle ASA
Haugland, Martin ; Brůna, Karel (advisor) ; Pour, Jiří (referee)
The aim of this thesis is to calculate the theoretical value of one share of Norwegian Air Shuttle the 31st of December 2016. Supportive information will be collected through a strategic- and financial analysis.

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