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The use game theory and real options valuation in investment decisions
Kuchina, Elena ; Dlouhý, Martin (advisor) ; Rada, Miroslav (referee)
This work demonstrates a new approach how to evaluate investment projects under uncertainty. This approach consists of the unification of real option valuation and game theory principles. The application of the theoretical foundation of this "option game" is shown on the illustrative example, that represents two-stage game. Analysis of this example compares the investment project's value in case when the R&D investment is not carried out with the case when this investment is made. In latter case there are two different possibilities whether the investment outcomes are proprietary or shared. The present work shows that in the evaluation of investment projects besides standard NPV there is flexibility value and the value of strategic effect; whereas these two components usually go against each other. Within the framework of the given illustrative example a breakdown of the investment project's value is demonstrated in different cases.
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The analysis of succes of the german labour market reform in the context of the economic crisis
Lad, Richard ; Durdisová, Jaroslava (advisor) ; Kubelková, Karina (referee)
The thesis is focused on a problem of a high unemployment that is connected with unefficient and uneffective employment policy. The aim of this thesis is to review the possibility of the usage of several types of reforms with highly activating elements on the employment policy in a strong social focused state. First, reforms focused on high quality job programmes made by the employment office; second, programmes dealing with motivation of unemployed persons and, finally, reforms on creating of new working possitions by bussinessmen. An example of such reforms has been presented by the german labour market, which dealt with the problem of high unemployment by a number of radical reforms called Hartz I-IV. The reviews on the recent state of the german employment market made by other authors are very critical to the outcome of these reforms. Ambitions of this thesis are to review the reality of the german labour market in the last decade using the methods of statistically-analytic tools applied on the labour market indicators and to look back to the results of the german labour market during the economic crisis focusing on its stability and flexibility.
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Exploitation of older people as the one of the means to stabilisation of the Czech pension system
Hotovec, Pavel ; Szabová, Lucia (advisor) ; Krebs, Vojtěch (referee)
The aging of population is one of the topics that are nowadays often discussed by economists. It affects the sustainability of public finances and so indirectly an operation of whole Czech economy. According to an analysis of specialists, the demographic trend shows the unsustainability of a current pension system. Very likely there will be a huge number of older citizens on the labour market in a few decades. My bachelor thesis is focused on the Czech labor market and it is trying to discover the causes of this phenomenen, to evaluace future development and to offer possible solutions. It also deals with the basic description of the labour market entities, workers and an employers. Their potential incentives for involvement in a employment and a prediction of the future development in the labor market. It evaluates the economic policy which these preferences to a greater or lesser extet affect. Only these policies can make from current unsustainable system a system relatively stable, which will be acceptable for all citizens.
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Investment Decisions in the Energy Sector
Sedláček, Jan ; Scholleová, Hana (advisor) ; Kotáb, Jiří (referee)
This thesis aims to identify main possible ways how to develop Mělník III coal power plant in the future. The other goal is to evaluate all of them using methods with flexibility and to recommend the most valuable one for the realization. The theoretical part of the thesis describes all key principles used during the valuation and the analytical part contains detailed situation analysis, valuation results and the sensitivity analysis with discussion of the results.
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Temporary help industry in the Czech Republic
Víchová, Šárka ; Svoboda, Miroslav (advisor) ; Brožová, Dagmar (referee)
In recent years, temporary help industry has been associated with the rapid growth in world markets. Temporary help agencies, which supply a flexible workforce to client companies, are undergoing significant development. This paper examines the nature of temporary help industry in the Czech market, focusing on the factors driving the industry's growth. This sector is examined from three perspectives (demand side, supply side and legislative) using a questionnaire survey carried out in the June-August 2011. The results confirm that in the Czech Republic, as well as in the world, is the main reason for cooperation of companies with temporary help agencies the requirement of temporal flexibility. But compared to Europe-wide trend, in our market there is a greater appeal for the regulatory flexibility. The biggest disincentive of the development of temporary help industry is strict legislative conditions.
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Conditioning and Flexibility in Compositional Models
Kratochvíl, Václav
Reasoning by cases or assumptions is a common form of human reasoning. In case of probability reasoning, this is modeled by conditioning of a multidimensional probability distribution. Compositional models are defined as a multidimensional distributions assembled from a (so called generating) sequence of lowdimensional probability distributions, with the help of operators of composition. In this case, the conditioning process can be viewed as a transformation of one generating sequence into another one. It appears that the conditioning process is simple when conditioning variable appears in the argument of the first distribution of the corresponding generating sequence. That is why we introduce the so called flexible sequences. Flexible sequences are those, which can be reordered in many ways that each variable can appears among arguments of the first distribution. In this paper, we study the problem of flexibility in light of the very recent solution of the equivalence problem.
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Determining the influence of fitness aerobics lessons on muscle strength, flexibility and body constitution\\
POPKOVÁ, Světlana
The aim of this bachelor thesis is through standardized tests to discover levels of physical abilities of girls attending selective aerobics at the department of Physical Education and Sport. The testing consists of three tests of muscle strength. From one flexibility test, one endurance test and by the use of BMI the body structure will be measured. The first sets of tests were run on 3rd of November and the final sets of tests were run six weeks later on 15th of December. After an analysis of all the data gained from the research, a comparison and evaluation of this data followed as well as the final testing by the use of simple average and standard deviation. The results were put into tabular graphs. This bachelor thesis should determine the impact of aerobic (non compete forms) on our physical abilities.
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Research of the Creativity Level of Children of the Fifth Grade
LETOVSKÁ, Petra
The aim of the diploma thesis is to diagnostic levels of particular creative abilities in a selected group of population {--} pupils in the fifth grade. Theoretical knowledge is analyzed and compared in the first part. Particular creativity problems are briefly specified using specialized literature, e.g. Creativity barriers, Factors effecting creativity, Methods used for creativity development. Empiric part presents research description of individual levels in creative abilities. Torrance Tests of Creative Thinking were used as a main method of research. Effect of sex, class, school and its size on individual creativity parts was considered within the testing. A relative level of these parts was compared as well.
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Determinants of using life insurance focusing on unit linked insurance in Czech Republic
Veselý, Matyáš ; Ducháčková, Eva (advisor) ; Daňhel, Jaroslav (referee)
The main topic of this dissertation is life insurance. The first part contains a description of principles, reasons for providing and the evolution of life insurance products. The dissertation looks for related values based on characteristics of life insurance and discusses the reference to the insurance premium volume. The second part of this dissertation is engaged in unit linked insurance -- its construction, investment status and flexibility. In this part is described a profitability diference between investing in different assets as well. This dissertation also describes some matters like broker interestedness and financial crisis impacts.
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The Chosen Problems of Liberalization of the World Trade in Non-Agricultural Products
Vaňkátová, Petra ; Štěrbová, Ludmila (advisor) ; Zamykalová, Miroslava (referee)
This thesis deals with the current events in the World Trade Organization concerning about non-agricultural (industrial) products. It describes negotiations procceding cca from the year 2006 till now. The problems that I have chosen correspond to the chapters and comprises formula for tariff cutting and its coefficients, flexibilities, non-tariff barriers, sectoral negotiations and recently added members. Just as the problems I have chosen also the countries - Brazil, China, India, the European Union and the United States of America. They could be classified as the key and most active players in non-agricultural market access negotiations. I was concentrating on their opinions, attitudes, reaction and especially proposals.
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