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Czech-German Future Fund
SCHWARZOVÁ, Jana
This bachelor's thesis deals with the Czech-German Future Fund, which was based on the Czech-German Declaration. The thesis describes its establishment, activities and also provides a general evaluation of its benefits. Firstly, there is a short development of the Czech-German relations stated. Several selected topics, which the Declaration and also the Fund had to cope with, are broached as well. Subsequently, the thesis focuses on the purpose of this foundation, the way of its management and financing. Moreover, the thesis provides an overview of the Fund's activities. A significant part of this thesis is the evaluation of its benefits as well as the question, whether the Fund is still relevant.
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Efectiveness of action of State Fund for Housing Development in the Czech republic during the last decade
Ryšková, Kateřina ; Poláková, Olga (advisor) ; Vebrová, Ludmila (referee)
State interventions into the housing market have become a common tool for supporting housing standard and for securing households' access to housing. The general part of the paper deals with the housing policy transformation where, besides the executive power, an extra-budgetary fund SFHD (State Fund for Housing Development) was established as one of the instruments used by the government to intervene in the housing market. The paper aims to analyse the SFHD's effectiveness, not only in terms of Act No. 211/2000 Coll., by which it was set up, but also in terms of the Fund's activities and coordination of the state housing subsidies implemented through the Ministry for Regional Development of the Czech Republic, and of the overall effectiveness of the Fund's functioning setting.
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A Performance Comparison of mutual funds and ETFs available in Czech Republic from the CZK investor's point of view
Kůna, Jakub ; Musílek, Petr (advisor) ; Havlíček, David (referee)
This diploma thesis "A Performance Comparison of in Czech Republic available mutual funds and ETFs from the view of CZK investor" elaborates on collective investing in Czech Republic; focusing on mutual funds and their exchange traded alternatives in ETFs. In the thesis, a history of Czech collective investments' development is briefly mentioned and of ETFs' beginnings in the US, also a legislative framework for the mutual funds in CZ is shortly discussed; furthermore, different approaches to fund classification based on various criteria are provided. An impact of fund fees and expenses is also analysed. A Current situation on the capital market of funds and ETFs and its trends are showed in many graphs and tables. In the second part of the thesis, author introduces not only the basic ones but also the more sophisticated methods of portfolio's or fund's performance measurements, including yields, risks, risk-adjusted yields etc... The third and last chapter aims at application of the previously mentioned methods on a selection of 20 funds and ETFs; therefore building a financial model enabling that. The analysis is viewed as from the CZK investor, thus all calculations are made in CZK.
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Implications of the Management´s Country of Origin on the Portfolio Performance
Bodnárová, Tamara ; Musílek, Petr (advisor) ; Witzany, Jiří (referee)
The thesis focuses on the analysis of the portfolio performance of investment funds. It elaborates on the area of investment funds, the role of management and portfolio performance measurement. The aim of the paper is to determine whether there is any impact of the investment fund's country of origin on its level of performance. Another objective is to observe whether the foreign funds' managers are able to generate better returns even in case they allocate the majority of the resources to financial instruments abroad. The analysis compares the performance of funds based on various performance measures. To answer these questions, two Latin American countries, Mexico and Brazil, were chosen for the comparison.
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Water Jet 2011 - Research, Development, Applications (Proceedings of the Conference on Water Jetting Technology)
Sitek, Libor ; Zeleňák, M.
Conference Water Jet 2011 – Research, Development, Applications represents the second meeting of producers, users, designers and other people interested in technology of high speed water jet in the Czech Republic; it is a follow up to the successful first meeting held in 2009. The conference is organized by the Department of material disintegration of the Institute of Geonics of the ASCR, v. v. i. in Ostrava. With respect to the significant contribution of the International Visegrad Fund project to the activities related to the preparation and organizing of the conference, this year it was possible to hold the conference in the mountain hotel Sepetná in Ostravice at the foothill of the highest mountain in the Moravian– Silesian Beskydy Mountains – the Lysá Mountain. A wide spectrum of problems which are solved in submitted papers shows the recent trends in the application of the water jet technology in a great variety of branches of human activities. The considerable number of foreign participants of the conference proves the increasing interest in the technology in the whole Euroregion.
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The International Monetary Fund and its role in Financial crisis
Palková, Zuzana ; Jiránková, Martina (advisor) ; Nováková, Jana (referee)
This bachelor thesis analyses Fund's activity in financial crises and aims to review the effectiveness of the IMF. In the first part there is introduction of the IMF. Its structure, financial resources and instruments which are used in solution of crises are described. In the second part, there is analysis of Fund's role in the selected crisis of 90th - Mexican crisis, crisis in south-east Asia and crisis in Argentina. In analyses, there is always stated a characteristic of the crisis and then evaluation of the role of the IMF. Emphasis is placed on criticism that the IMF's measures have evoked. In the last chapter there is briefly stated the current financial crisis and Fund's participation in it. The thesis also outlines future development of the IMF.
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Efficiency in international funds for climate change
Husová, Kateřina ; Jílková, Jiřina (advisor) ; Vojáček, Ondřej (referee)
In years long negotiations on the new global climate change regime, financial support provided for adaptation and mitigation in developing countries have been one of the most contentious issues. Billions dollars are in questions annually, disbursed both by private investments, as well as substantially via public funds. The fundamental question resonating in the negotiations and elsewhere though is the issue of efficient delivery. Given the scale of resources, which should be mobilized and disbursed, given the current experience with inefficiencies in ODA, given the fact that existing climate change funds are now disbursing millions but not billions, the efficiency is really the key for success of future climate regime. Moreover, efficient delivery is a pre-condition for "preventing dangerous interference with climate change", which is the ultimate goal of climate change policy enshrined in the UN Framework Convention on Climate Change envisages. It is a widespread belief that inefficiency in disbursing public funds remains at the recipient's side. This paper tries to approach the efficiency question at the case of the Global Environment Facility, the Kyoto Protocol Adaptation Fund and the World Bank Climate Investment Funds. It asks the question whether the existing funding mechanisms in climate change are set up optimally in order to disburse funds efficiently. When looking at their internal policies and guidelines, it focuses on the four leading questions -- how can funds be accessed, who decides, who and how implements and how are funds held accountable. It finds that there are major differences between the tree funds in how and by whom are priorities and objectives decided, what are the fund's requirements on recipients, and how does the fund control the efficiency of its spending. This paper brings an in-depth analysis of weak and strong policies in existing climate change funds with regard to efficient delivery.
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Currency crises and the role of International Monetary Fund
Dostálek, Marek ; Helísek, Mojmír (advisor) ; Sedláček, Petr (referee)
Thesis analyses role of International Monetary Fund in currency crises its proceedings and instruments and thereof arising criticism. In the first chapter there are stated definitions of currency crises, described their causes and possibilities of prevention. Short description of the Fund and used instruments in its operations are also included. The main focus is on analysis of the approach of the IMF to significant currency crises since 1990's. Mexican, south-east Asian, Argentinean and Icelandic crises are analyzed. As a practical aspect of the thesis approach of the IMF to currency crisis in the Czech republic in 1997 is examined as well. In analysis there is always stated overall description of the crisis, approach of the IMF to mitigation of the crisis and thereof arising experts' criticism. In the last chapter there is analysis of certain reports and commissions that dealt with Fund's operations and suggested reforms. Experts' opinions (Kenen, Sedlacek, Jonas) of the IMF's functioning and its summary are also part of the chapter.
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Simulation models of pension insurance due to demographic development in the CR
Pudil, Lubomír ; Kuncová, Martina (advisor) ; Vopátek, Jiří (referee)
The issue of an aging population, pension systems and pension themselves, are currently very actual, interesting and socially topics discussed. In my diploma thesis on simulation models of pension insurance due to demographic development in the CR I used simulation experiments, including those based primarily on the Monte Carlo method, tackling issues and negatives surrounding pension insurance with state contribution, which, as one of the financial products market, is the second pillar of pension system in the Czech Republic. Pension scheme of pension insurekce with state contibution gives participants the advantages and benefits in the form of state subsidy, the possibility of reducing the income tax base on the part of the contributions paid, proceeds from fund management and the possibility of contributions from the employer. On the other hand, play an important role, weaknesses and shortcomings of this system. Again, the most important may be considered inseparateness fund's assets from an estate participants, inappropriately designed state contribution, the high average age of participants and relatively low rate of return on fund management. Negatives mentioned above were reflected in the simulation experiments, when the linear state contribution was designed and was considered for the new system of pension saving in combination with a linear state contribution, which appears to be a more appropriate and beneficial for both participants on the one hand, and the state (impact on public spendings) on the other.
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