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Export credit insurance in Czech republic
Šimová, Mária ; Černohlávková, Eva (advisor) ; Nejedlý, Michal (referee)
The aim of this bachelor thesis is to analyze the Czech credit insurance market and at the same time to compare business activities and achievements of the Czech state insurer EGAP and Eximbank. The work is divided into 5 chapters. The first one deals with the importance of credit insurance, the second chapter is about international rules of the export credit insurance system. The third and fourth chapter is an analysis of the global credit market and the Czech insurance. In the last chapter the results of business activities of the state insurer EGAP are compared with Slovak Eximbank.
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Credit Risk in International Trade - Comparative Study of credit rating models of Export Guarantee and Insurance Agency EGAP, a.s. and Corporate Banks
Čiháková, Andrea ; Taušer, Josef (advisor) ; Čajka, Radek (referee)
The dissertation compares the export credit rating model of the national Export Guarantee and Insurance Agency EGAP with models applied by selected Czech banks. The first part of the dissertation presents a summary of credit risk theory. It depicts the main principles of lending and its risks. The dissertation further describes the factors that influence credit risk and the methods of its modelling. While mathematical risk models project the expected loss as well as its sensitivity to the risk factors, the focus of this thesis lies in qualitative models which set a normalized scale for probability of default, the so called credit rating models. The main contribution of the dissertation lies in the survey carried out among four Czech banks belonging to owners from various countries, from which we get an overview of their rating models. It follows from the gathered information that their models are based on financial indicators when rating the buyers/exporters. The models are also considerably amended by non-financial factors whose importance in certain cases rose following the recent financial crisis. The agency EGAP insures business activities abroad and therefore its model takes into account also specific factors related to the destination country. The main difference between the models of EGAP and the examined banks lies in the method of creation and validation: EGAP does not dispose of sufficient amount of business case studies, so that it has to rely on external consulting services when setting up and validating the model. The dissertation concludes that while all rating models are composed of similar risk factors highlighting past financial indicators of the financed business, each analysed rating model differs significantly in the specific database of business cases that were used to construct the model, depending on the availability of data to the bank/insurer. The conclusion that can be drawn from this fact is that the main factor for successful prevention of future failures of the credit rating models will be the extent of the credit assessment database which will be used for the construction of the respective rating model.
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Export support in the Czech Republic
Šlégrová, Lucie ; Sato, Alexej (advisor) ; Uličník, Jaroslav (referee)
My diploma thesis offers a complex summary of export promotion in the Czech Republic. The main focus is on the Czech proexport policy, the products and services of Czech Export Agencies and it also describes the most important institutions. At the end current problems which need to be dealt are pointed out.
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The export financing of small and medium-sized enterprises
Pisotchi, Olga ; Nejedlý, Michal (advisor) ; Chaloupka, Jiří (referee)
This work describes basic options of the export credit promotion of small and medium-sized enterprises in the Czech Republic offered by both the state and the private sector. The first part of the thesis focuses on defining the term "small and medium-sized enterprises" and a description of their economic importance. In this part I refer to their social benefits, economic status and forms of their internationalization. The second part deals with fund raising, both in terms of traditional and alternative methods. It is dedicated to state institutions providing the direct and indirect export credit promotion of SMEs in the Czech Republic. Furthermore it, in a limited range, dedicates to the export credit promotion agency CzechTrade, which provides valuable information not only for new exporters. The last part is a case study of a Czech company seeking the export credit promotion. The contribution of this work is the view of SME and their export credit promotion, which is coherent and clear, and can help SMEs with an orientation between a number of different alternatives to finance their export.
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The Methods of Export Financing of Capital Goods
Zubáková, Veronika ; Černohlávková, Eva (advisor) ; Nejedlý, Michal (referee)
The first part of the thesis deals with methods of export financing of capital goods, pre-export financing, supplier's credit, buyer's credit and export leasing. In the next part of the theisis is described financing exports of capital goods with state support. Here is characterized pro-export policy and the Consensus OECD, as well as the emphasis on two major institutions to promote exports in the Czech Republic - EGAP and CEB. The last part is devoted to project financing and financing through PPP.
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Significance of export credit insurance with state support in global economic crisis
Lehanka, Josef ; Černohlávková, Eva (advisor) ; Nejedlý, Michal (referee)
The first chapter summarises basic characteristics of the export credit insurance, particularly focusing on the export credit insurance with state support. The second chapter summarises the issue of export credit insurance as a tool of export-oriented politics. The third one describes international organisations and international regulations affecting export credit insurance with state support. Tha last chapter summarises developement of export credit insurance from the beginning to the present time including contemporary economic crisis.
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Insurance of the credit risk of czech exporters
Opatřilová, Lenka ; Ducháčková, Eva (advisor) ; Daňhel, Jaroslav (referee)
This diploma thesis in the first part discusses the importance of export, and especially its support from the goverment. There is characterized credit risk and the possibility of insurance. The theoretical part introduce an international agreement concluded OECD Consensus, which sets the rules for export credit insurance with the support. The practical part is devoted to an analysis of the insurance company EGAP in the years 2007 - 2009. Insurance contracts are analyzed according to the insurance product and territories. In conclusion there is a recommended procedure for the exporter in arranging insurance.
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Export needs of small and medium enterprises versus government assistance
Erbenová, Jana ; Taušer, Josef (advisor) ; Černá, Iveta (referee)
For such a small open economy as is the case of the Czech Republic, export is one of the key growth factors. Further, small and medium sized enterprises are very efficient tool of the economic stability. Government should therefore analyse and fulfil export needs of those entrepreneurs. There is actually no questin about importance of government assistance. Most of the developed countries already help their small and medium enterprises. Ignoring this fact could lead to the reduction of the competitive strength of Czech companies. The diploma thesis analyses the export needs of those firms and compares them with the government assistance programs. Theoretical part is focused on definition of this entrepreneur's category, describes assistance frame and analyses the influence of export on the Czech economy. Practical part deals with individual export assistance programs and analyses the export needs of Czech exporters based on several surveys. The last part of the diploma thesis compares the Czech government assistance with the assistance that foreign countries provide their entrepreneurs with. The final recommendations regarding the possibilities of increase in the efficiency of the government assistence are included in the last chapter.
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Credit insurance for exports to Latin America
Turčáni, Jakub ; Černohlávková, Eva (advisor) ; Chaloupka, Jiří (referee)
Export is very important for the Czech Republic and great emphasis is placed on its support. Domestic exporters are thus able to stay competitive in foreign markets. An integral part of the state aid funding and the subsequent export credit insurance are state institutions. This insurance is used primarily against political risks that are not insurable by market and basically only EGAP can offer any protection against them. They are also increasingly used for export to Latin America, because the foreign trade turnover with states there is on an upward trend. One of the companies that use EGAP insurance product is Strojimport. Thanks to the experience of this company, I was able to determine the format of the recommended procedure for applying for insurance from EGAP, procedure so important for Czech exporters.
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