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Bond valuation theory
Krchňavý, Martin ; Čech, Tomáš (advisor) ; Pracný, Jakub (referee)
The bachelor thesis discusses the theory of bond valuation with a focus on traditional coupon and zero-coupon bonds without embedded options. Introduction specifies author's objectives and methods, which are used to fulfil these objectives. Theoretical part explains the concept of bond and analyses its individual attributes, such as price, yield and risk. The part with the practical application of the theory contains the description of data obtained from Thomson Reuters Eikon trading platform followed by the demonstration of yield and risk measurements and the valuation of my exemplary bond, which is Czech sovereign bond with a fixed coupon rate issued in the national currency. Conclusion evaluates the achievement of objectives and the potential utilization of results in praxis.
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Optimization of inventory in NET4GAS, s.r.o.
Hynoušová, Zuzana ; Svobodová, Hana (advisor) ; Mejdrech, Vlastimil (referee)
This thesis deals with optimization of inventory of spare parts and maintenance materials in NET4GAS, s.r.o. The aim of the thesis is to sort the items stored in the company and to propose specific supply methodology for the year 2013. The thesis is divided into two parts. The first, theoretical part includes theoretical knowledge of inventory management together with the methods used in the managing process, it also introduces specific inventory management of spare parts and maintenance materials. The second, practical part describes NET4GAS, s.r.o., its current system of inventory management of spare parts and maintenance materials, it identifies the local current problems in inventory management, it proposes selection of appropriate methods of inventory optimization and it demonstrates their application to real data. For the classification of stored items is selected ABC method. To draw up the supply plan is primarily used bootstrap method (also called bootstrapping), which makes estimates of future consumption of spare parts and maintenance materials. The final section summarizes all the recommendations for improving the current inventory management.
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The stochastical approaches to the claims reserving
Hronová, Lucie ; Witzany, Jiří (advisor) ; Kolman, Marek (referee)
The subject matter of this master thesis is the introduction to the claims reserving methodology applied in the general insurance with the focus on the agragated data represented in the form of triangle schemes. First the basic deterministic methods are to be presented including the Chain ladder method as the most known and widely used tool in claims reserving. Next we will concentrate on the stochastic approaches. The method of bootstrapping is to be described more in detail as it is the main topic of this thesis. Finally the accuracy of the prediction of several specific models and algorithms is to be examined with the goal of their overall comparison (using randomly generated input data).
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Interest rate swaps and it's pricing
Holička, Petr ; Málek, Jiří (advisor) ; Paholok, Igor (referee)
This thesis deals with interest rate swaps. In addition to chapters on basic principles of interest rate swaps also provides insight into the current situation in the derivative markets. The main part is devoted to the valuation of interest rate swaps, where is in addition to the theoretical site also solved the problem of obtaining the necessary data for calculations in practice. The conclusion of this work is devoted to two practical examples, which are dealing with the problem of the valuation of interest rate swaps.
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Risk-free interest rate for income based business valuation
Adamec, Tomáš ; Maříková, Pavla (advisor) ; Mařík, Miloš (referee)
This diploma thesis analyses various approaches to calculate risk-free interest rate. In the beginning it deals with the term risk-free asset a various types of bases we could start calculating from. The paper suggests using spot rates and searches for alternative interest rates on the market. These are subsequently applied to real data coming from Czech market. Specifically they are the bootstrapping method and also the method of deriving risk-free interest rate from interest swap rate. Closing thoughts are dealing with various problems an appraiser may encounter while calculating risk-free rate. For example the problem of using nominal/real rates, nonexistent long-term government bonds or the presence of a default risk for particular government. This diploma thesis closes with a decision tree that could serve as a lead for appraiser in the process of estimating risk-free interest rate.
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