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Speculation on oil markets and its impact on commodity's price
Melcher, Ota ; Taušer, Josef (advisor) ; Baláž, Peter (referee) ; Müller, Štěpán (referee)
This study aims to analyse the precrisis period on the oil markets with a primary objective of assessing the role of speculation in the commodity's price development and its volatility. First it depicts the rapidly increasing speculative activity on the futures market together with the parallel oil price surge. The speculation is initially proxied by non-commercial traders' positions and subsequently quantified by Working's T-index. The paper then uses speculative traders' positions and both spot and futures prices to test for Granger causality within the framework of VAR models. For the sake of consistency it also evaluates causal links between speculation and inventories level. Further the study investigates the speculation impact on volatility of oil prices by employing various approaches in volatility quantification including GARCH models. Contrary to expectations we find that the speculatio's impact on both prices and their volatility is rather insignificant. In the last chapter we therefore seek for an explanation of the oil price developments by examining the market fundamentals. The interaction of supply and demand finally gives substantial evidence for understanding the price developments in the precrisis period.
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Differences between men and women in the Czech labour market
Stroukal, Dominik ; Kadeřábková, Božena (advisor) ; Pavelka, Tomáš (referee) ; Němec, Otakar (referee)
This thesis consists of five articles that apply current world research on labor economics at the Czech Republic and confirms the significant differences between men and women in this market. It shows that gender has a significant influence on the preference on the labor market and, consequently, on employment and health. First, the thesis shows that preferences are relevant determinant of career and then we study the difference in preference of salary for men and women. Subsequently it shows that gender plays a significant role in explaining the relationship between homeownership, and unemployment, as well as unemployment and health. The first chapter was able to demonstrate that the preference for a career has a positive influence on the choice of career. The influence of higher education on prioritizing career proved to be positive and significant. Probability of a career choice is reduced by the presence of children, however, is not dependent on their number, which is contrary to the theory of preferences. The second chapter shows that Czech women prefer more non-monetary rewards than men. It has also been shown that people with university education are same in the preferences of non-monetary rewards regardless of the gender of the respondents, however, compared to the world's research, the Czech higher education increases this preference. It turned out that women prefer risk less than men. The third chapter demonstrates that although the housing market undermines labor mobility and employment in the Czech Republic at the regional level, therefore, that in regions with a higher rate of home ownership is higher unemployment, at the individual level, the owners of housing are unemployed are less likely. The estimates are significantly different for men and women. Men living in owner-occupied housing have a higher likelihood of employment than women. At regional level, however, this thesis shows that the high rate of home ownership increases unemployment for both men and women, in the long run only to women. The fourth chapter showed that men transition to homeownership reduces the likelihood of unemployment next year. For women, this relationship has proved to be insignificant. In addition, as insignificant showed the opposite relationship, the transition from unemployment to the newly acquired home ownership. The last chapter shows that the change in the working status to unemployment will increase in the future probability of worse health. Influence in less than two years, however, proved to be significant. An important conclusion is that men have a significantly stronger relationship between health and unemployment than women.
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The theory of redistribution and its application
Mihalčinová, Hana ; Dlouhý, Martin (advisor) ; Valenčík, Radim (referee) ; Peško, Štefan (referee)
The theory of redistribution systems is a practical extension of a game theory, which deals with a redistribution within a social system of more than two players with di?erent performances and ability to create coalitions. This thesis is divided into three chapters. The ?rst chapter describes the known knowledge of a game theory. The second chapter deals with the theory of redistribution systems. Using an elementary redistribution system and its generalization group behaviour when dividing a payment, achieved by a collective performance, is described. This part introduces the extension of the redistribution system to a compound redistribution system with a fractal structure. Furthermore the theory of discriminatory equilibrium and the theory of commonly acceptable equilibrium are veri?ed using the elementary redistribution system and utility theory. The third chapter deals with an application to the allocation of funds among faculty departments. A game theory approach was used to reduce the game to a non-cooperative game of two players by using the forming of coalitions. Also the theory of redistribution systems was applied when a reduction was used to create a non-cooperative two-player game. This reduced non-cooperative game between two players was converted to a cooperative play of more than two players by changing the rules of the game and allowing a formation of coalitions. In the practical part both of these approaches are compared with real data and a current state.
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Proposing the financial performance prediction index for decision support of the hospital management
Hajdíková, Taťána ; Černá, Anna (advisor) ; Lieskovská, Vanda (referee) ; Lazar, Jaromír (referee)
Dissertation thesis deals with the managerial needs in the area of financial health. Managers need a tool to reveal the impending financial failure or to assess the financial quality of the organization. They link their decisions to performance, ability to pay, employee productivity, financial resources and financial risk. In the theoretical part of the thesis it is necessary to explain the non-profit sector and its connection with the hospital environment. It is also necessary to introduce models used both in the Czech Republic and abroad, which share common elements. The basic aim of this thesis is to propose a financial performance prediction index for decision support of the hospital management, the owners of hospitals and insurance companies. To achieve the basic goal, three sub-goals must be accomplished. The first goal is to divide the hospitals into healthy and unhealthy by using the multi-criteria methods. The second goal is, based on an expert approach with the support of statistical methods, the selection of indicators appropriate for the hospital environment and the third goal is to find a suitable method for the determination of weighted representation of individual indicators in the proposed index and to assemble the final form of the new financial index for the hospital environment.
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The impact of South China Sea dispute on trade relations between China and Vietnam
Nguyen Hong, Viet ; Vlčková, Jana (advisor) ; Hasík, Gabriel (referee)
This bachelor thesis investigates the impact of South China Sea dispute on mutual relations between China and Socialist Republic of Vietnam. Thesis lays great emphasis on the analysis of mutual trading relations. The goal of this work is to find out if the dispute over territory has negative influence on mutual relations and to what extent. Therefore, thesis is divided into 3 main chapters. The introductory chapter describes position and development of each country. Second chapter uses findings from the introductory part for the analysis of political and trade relations of both countries. It focuses on the history of mutual relations and mainly it lays emphasis on current mutual relations. Last chapter of the thesis is dedicated to the issues regarding South China Sea. Motives and causes of this dispute are described in this chapter. It provides a view on the course of this territorial dispute, and also impacts on mutual relations are analyzed. The output of all three chapters helps to formulate following conclusion. Dispute over South China Sea has impact on mutual relations. Predominantly, it influences political relations between China and Vietnam, therefore, this dispute is often mentioned in media. However, according to available data this dispute has not had major effect on trading relations. Mutual trading between both countries went off in dispute period without any limitations and barriers.
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The capacity of the European Union to form a common foreign policy: The approach towards Russia during the crisis in Ukraine
Grycová, Adéla ; Rolenc, Jan Martin (advisor) ; Cibulková, Petra (referee)
The thesis deals with the issues of framing and europeanization of the foreign policy of the European Union in the context of an actorness of the EU. These two theoretical concepts are applied on the case of an approach of the Czech Republic and European Union towards Russian Federation during the crisis in Ukraine. The aim of this thesis is to find out if the European Union is capabble of affecting the behaviour of a member state in order to create unified and operational foreign policy. The first chapter deals with teoretical definition of the two concepts and detailed description of the stances of Czech Republic and European Union follows in the second one. On the basis of these chapters the assessment is conducted. The last part firstly concludes if any attempt of influecing is present and secondly the success rate of the attempt is evaluated.
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Analysis of the company environment
Hladík, Ondřej ; Dvořáček, Jiří (advisor) ; Strouhal, Jiří (referee)
This bachelor thesis deals with methods of analysing the company environment and then using these methods on a company Travel Service, a.s. The primary purpose is to determine main factors affecting the market position of this company. Methods used for analyzing the company environment are introduced in theoretical part of the thesis. For analysing the macroenvironment is used PEST analysis and Porter five force model is used for analysing the critical factors of macroenvironment. The thesis include SWOT analysis and recommendations for the company based on the collected informations.
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World Trade in Crude Oil
Benešová, Nela ; Čajka, Radek (advisor) ; Bolotov, Ilya (referee)
This master´s thesis deals with trade with crude oil and its impact on the world economy. Everyone, who wants to start to trade with crude oil, should find out basic terminology and information about crude oil that is characterized in the first chapter. The hunt for oil started many years ago, therefore the history is also mentioned in this master´s thesis. The second chapter focuses on the world trade with crude oil. Territorial structure and trade flows are described in this part of the master´s thesis. Nevertheless, the crude oil also has an impact on the world economy and economies of single states. The third chapter analyses states, where the inhabitants live beyond means of people from other countries but these states are so depended on crude oil that if this trade stopped, these countries would go bankrupt. However, there are also exceptions. Even though, there are states that have huge sources of crude oil, they still have to deal with financial problems. The forth chapter characterizes the trade with crude oil of the Czech Republic because it is a net importer of crude oil and the last chapter focuses on new trends in crude oil such as shale oil and trading at a crude oil market.
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Demonstrate the principles of application development for Android on the example of a simple game
Tatoušek, Petr ; Pecinovský, Rudolf (advisor) ; Oraný, Vladimír (referee)
Demonstration of the Android application development principles explained on a simple game is a thesis describing in it's theoretical part Android OS. It also briefly describes it's history and especially it's architecture emphasizing on my thesis' part relevant to the practi-cal part of my dissertation. It also focuses on the general applications' architecture princi-ples for this operating system. In the practical part of the thesis I tend to describe the application development principles for Android OS. This is achieved on an sample application. This sample application is an implementation of a text-based adventure game in the Java language. It uses SQLite data-base for storing the game data. There is a game framework which enables entering diffe-rent game data to the database and thus playing different games with divergent game plays.
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