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Prevention of credit risks in the condition of international trade
Říhová, Michala ; Sato, Alexej (advisor) ; Jarošová, Blanka (referee)
The main form of intrernational economic cooperation represents trade, which is carried out by a large number of individual business operations. Businesses, that carry out these transactions are part of the global economy and it brings not only many opportunities to engage in international business activities but also threats and risks. The thesis is divided into three main parts. The first part of thesis presents the type of risks' origin emerging from international trade and its characteristics. The second part describes in detail the means of prevention of risks of payment in the condition of international trade. The third part deals with the analysis of the trade contract in which was used the letter of credit, based on the data received from ČSOB, a. s. Thanks to this business operation the shortcomings are demonstrated as they appeared in individual documents.
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Risks of Ukrainian market from the perspective of the Czech exporters and entrepreneurs
Dmytroňak, Viktorija ; Gullová, Soňa (advisor) ; Klosová, Anna (referee)
This bachelor thesis aims to identify the risks of international trade that could be confronted by Czech and foreign entrepreneurial subjects who trade in Ukraine or decide to enter the Ukrainian market with foreign direct investment. The first part of the thesis deals with the characteristics of risks connected with international trade and opportunities how to overcome them. The second part tackles main risks, complications and barriers to entry the Ukrainian market. As to the final part, trading with Ukraine is evaluated as a subject of a high risk. Enclosure provided serves to show the distinct development of particular regions in Ukraine.
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Analysis of Economic Risk of Investment Project
Malý, Lukáš ; Holá, Michaela (referee) ; Hromádka, Vít (advisor)
This thesis focuses on considering of the investor economic risk during the preparation of the investment project including the financial plan, its evaluation and suggestions of proposals for risk reduction. Correct decisions on implementation or rejection of the project are based on the realistic financial plan. However, expenses and revenues are only implied and are burdened with some variability that leads to the risk of failure to achieve the planned values. To assess the acceptability of certain risks for the investor, an analysis of risk factors was conducted. The factors are first identified for their significance and potential negative impact, then the most risk factors are evaluated and determined whether it is necessary to further tracking or the risk to the investor is acceptable.
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Methods of securing export credit risks
Auramenka, Darya ; Tlapa, Martin (advisor) ; Krčál, Adam (referee)
My work deals with ways of securing export credit risks in international trade. Firstly, I characterize the risks faced by exporters in the provision of loans to customers in international trade. Then I will acquaint the reader with the basic instruments to protect against these risks. The next chapter is in detail devoted to documentary letter of credit as a securing instrument. Firstly the letter of credit is defined, than I explain its essence, describe the different types of L/C and relations between the parties. At the end of this chapter you will find recommendations for exporters, emphasizing the most important rules, which seller should adhere in order to conduct a successful foreign business operation. The last part of this work will focus on the development of electronic letter of credit and its latest form - Bank Payment Obligation.
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Modely finančních časových řad a jejich aplikace
Kladívko, Kamil ; Arlt, Josef (advisor) ; Witzany, Jiří (referee) ; Cipra, Tomáš (referee)
I study, develop and implement selected interest rate models. I begin with a simple categorization of interest rate models and with an explanation why interest rate models are useful. I explain and discuss the notion of arbitrage. I use Oldrich Vasicek's seminal model (Vasicek; 1977) to develop the idea of no-arbitrage term structure modeling. I introduce both the partial di erential equation and the risk-neutral approach to zero-coupon bond pricing. I briefly comment on affine term structure models, a general equilibrium term structure model, and HJM framework. I present the Czech Treasury yield curve estimates at a daily frequency from 1999 to the present. I use the parsimonious Nelson-Siegel model (Nelson and Siegel; 1987), for which I suggest a parameter restriction that avoids abrupt changes in parameter estimates and thus allows for the economic interpretation of the model to hold. The Nelson-Siegel model is shown to fit the Czech bond price data well without being over-parameterized. Thus, the model provides an accurate and consistent picture of the Czech Treasury yield curve evolution. The estimated parameters can be used to calculate spot rates and hence par rates, forward rates or discount function for practically any maturity. To my knowledge, consistent time series of spot rates are not available for the Czech economy. I introduce two estimation techniques of the short-rate process. I begin with the maximum likelihood estimator of a square root diff usion. A square root di usion serves as the short rate process in the famous CIR model (Cox, Ingersoll and Ross; 1985b). I develop and analyze two Matlab implementations of the estimation routine and test them on a three-month PRIBOR time series. A square root diff usion is a restricted version of, so called, CKLS di ffusion (Chan, Karolyi, Longsta and Sanders; 1992). I use the CKLS short-rate process to introduce the General Method of Moments as the second estimation technique. I discuss the numerical implementation of this method. I show the importance of the estimator of the GMM weighting matrix and question the famous empirical result about the volatility speci cation of the short-rate process. Finally, I develop a novel yield curve model, which is based on principal component analysis and nonlinear stochastic di erential equations. The model, which is not a no-arbitrage model, can be used in areas, where quantification of interest rate dynamics is needed. Examples, of such areas, are interest rate risk management, or the pro tability and risk evaluation of interest rate contingent claims, or di erent investment strategies. The model is validated by Monte Carlo simulations.
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Analysis of risk factors associated with dengue in Southeast Asia
Urbanová, Klára
The thesis focuses on analyses of relations between risk factors and dengue fever incidence in a selected area of Southeast Asia region. Specifically, it focuses on the Philippines, where the governmental organizations provide relatively sufficient amount of data. First, general problematic of Neglected Tropical Diseases with focus on dengue fever is introduced. Its transmission and influencing factors are specified. Then, current methods of dengue incidence and risk factors relationship modelling are reviewed. Furthermore, statistical processing of available data is carried out, especially, in terms of detailed analysis of the relationship between climatic factors and dengue incidence in the Philippines. Based on the obtained results, a mathematical model describing the relationship between dengue, cumulative precipitation and mean temperature on regional and weekly basis, is created. Model estimation is performed with generalized linear regression by applying negative binomial distribution. With the model, the dengue incidence dependency on selected risk factors was verified. Concurrently, overall complexity of the disease development and transmission was verified by the model.
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Economic analysis of selected towns and villages
Šorová, Milena ; Homolka, Jaroslav (advisor) ; Milena, Milena (referee)
The thesis Economic analysis of selected towns and villages is divided into two main parts. In the first part there are approached the theoretical bases of local government units, method of funding of them and the rules for treatment with funds. The second, practical part, focuses on the detailed analysis of the financial management of the municipalities Jindřichov and Staré Město. After introductory information about the selected municipalities, follows detailed analysis of revenue and expenditure and the class of financing of the budget in years 2010 - 2014. For the possibility of mutual comparison there are some of the data recalculated per capita.
In the end of the thesis is coming to evaluation their financial management, which does not show major problems by both villages. The worse situation with respect to the indicator of the indebtedness is in the city Staré Město, which uses to funding of the ongoing operations the short-term bank credits, which are repaid from received transfers, but even here it is not a significant risk management with entrusted funds. To municipalities are suggested possible measures to reduce risks by indebtedness and these were provided them for contemplation.
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Credit risk monitoring in the Czech banking sector : Early warning model
Mužíček, Pavel ; Dědek, Oldřich (advisor) ; Rippel, Milan (referee)
The aim of my thesis is in the first place to show how to deal with a credit risk, and which tools the Czech banking sector uses to minimize it (based on the adequate literature and own experience). In the second place, the aim is to find out the reliable logit model estimating the probability of default during the short period based on available data (in the time of economic crisis in the Czech environment). In the first part of this thesis I am describing the development of Non-performing loans before and during the current financial crisis together with the results of the CNB's stress tests. Next chapter describes the credit risk with the emphasis on the credit monitoring, including the most frequently used monitoring tools. Practical part turns us to the most important EWM model. The strictly confidential banking data (credit account turnovers, credit contract), together with data from the financial statements and CRU registry are the inputs to the Model. The Model should work as an early warning signal detection thanks to the estimate of probability of default (more specifically the watch loan classification or worse) during the next three months.
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Energy security of the EU
Musil, Jakub ; Němcová, Ingeborg (advisor) ; Vondrušková, Barbora (referee)
The issue of the energy security became widely discussed in the expert community and on several levels of the European policy during the recent years. The aim of this thesis is finding suitable tools of the energy policy of the EU and sketching of possible appearance of the energy mix in the next few decades. The first part describes the chosen methodology of the risk management. This is followed by the analysis of the current energy position of the EU. In the third part there are closely analyzed the particular factors of the risk, which enables a structured sight of the issue. The following chapter investigates current political struggle in energy questions on the European level. The consequences between the particular risk factors are evaluated in the last chapter using three scenarios of the possible future development. This analysis leads to prognosis of the energy mix in both the mid-term and the long-term horizon.
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Pregnant women and their perception of nursing care provided by midwifes during their stays at the Department of Gynekology and Obstetrics.
VONDRÁKOVÁ, Alena
Hospitalisation is a very stressful moment in everyone?s life. It is even more stressful for a pregnant woman. Woman?s worries about her healthy pregnancy development and child?s life become even greater at such time. Pregnant women are more sensitive and receptive to people and environment that surround them. Out of all medical staff, midwives spend the largest portion of time with pregnant women. Midwives utilize not only their nursing skills while providing nursing care to their clients, but also provide support and take care of clients? emotions. The theoretical part of the bachelor?s thesis at hand focuses on descriptions of physical and mental changes during pregnancy, and provides explanations of risk and pathological pregnancies. Subsequently, it provides information on psychosomatics during pregnancy, indications for hospitalisation during gravidity, and nursing care during the stay of a pregnant woman in hospital. This thesis identified two objectives. The first objective was to find out how hospitalised pregnant clients perceive the nursing care provided by midwives. The second objective was to observe whether the pregnant clients trust the medical staff. Based on these two objectives, five research questions were developed. Information needed for data processing and meeting the objectives was gathered by qualitative research using the technique of interview that was held with nine pregnant women. The data were collected in three different hospitals: a regional hospital, a district hospital (both in the South Bohemian Region), and a university hospital in Prague. Research corpus comprised of nine pregnant women that had been hospitalised with risk pregnancies at the department of gynecology for a period longer than 10 days. The research was carried out on the basis of the two defined objectives and five research questions. Both of the identified objectives have been met. The clients assess the nursing care provided by midwives positively and they trust the medical staff. The research questions were answered in full and necessary information was retrieved. The interviewed respondents would most preferably welcome antenatal courses held during their hospitalisations; more information given during their treatment process; and better quality communication with the medical staff. The author would welcome the idea that this thesis helps the other medical staff in better understanding of emotions, feelings and perceptions experienced by hospitalised pregnant women, which may in result help diminish some of the negative effects observed while staying in hospital.
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