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Analysis of the OTC derivatives and their use in risk management
Neubauerová, Lucie ; Málek, Jiří (advisor) ; Radová, Jarmila (referee)
This bachelor thesis deals with the over-the-counter (OTC) derivatives. It discusses especially the development of their trade in the world and the possibility of using in risk management. The introductory part defines the basic concepts associated with derivatives, describes their history, classification and methods of statistical reporting. It briefly introduces the basic types of derivatives and the primary motives for using. The second part analyses developments of the OTC derivatives markets since 1998 to the present, including a comparison with the stock exchange markets. The content is also a detailed view of the break-even period before and after the outbreak of the global financial crisis. The last part is devoted to hedge risks through OTC derivatives. It Includes introduction to hedge accounting in terms of czech and international financial accounting and reporting standards and the conclusion is supplemented by specific examples of fair value and cash flows hedges.
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Myocardial regeneration after intracoronary injection of autologous bone marrow-derived mononuclear cells in patients with large anterior acute myocardial infarction and late reperfusion
Skalická, Hana ; Horák, Jan (advisor) ; Vojáček, Jan (referee) ; Málek, Ivan (referee)
Myocardial regeneration after intracoronary injection of autologous bone marrow-derived mononuclear cells in patients with large anterior acute myocardial infarction and late reperfusion Objective and background: Despite the use of reperfusion therapies, outcomes in patients with large ST elevation myocardial infarction (STEMI), late reperfusion and left ventricular (LV) dysfunction is poor. We investigated longterm safety and efficacy of intracoronary injections of autologous bone marrow-derived mononuclear cells (BMNCs). Methods: 27 patients with anterior STEMI (age 59 ± 12 yrs, mean baseline LV ejection fraction (LVEF) 39±5%), who underwent percutaneous coronary intervention 4-24 hours after the onset of symptoms, were randomly assigned either to intracoronary BMNCs injection (n = 17, BMNCs group, out of which 14 underwent longterm follow-up), or to standard therapy (n = 10, Control group). The LVEF, the LV end-diastolic and end-systolic volumes (LVEDV, LVESV) and diastolic function (transmitral flow, pulmonary vein flow) were assessed by echocardiography at discharge, month 4 and 24. Myocardial perfusion was assessed using SPECT at baseline and month 4. Results: At 24-month, there was no difference in rates of serious clinical events (36% vs. 50%, p=0,54). At Month 4 LVEF improved to similar extent in...
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Experimentální mechanika tekutin a sdílení tepla a hmoty: strategie výzkumu
Trávníček, Zdeněk
The so-called “Research Strategy” seems to be a typical and quite effective tool for dealing with various problems in Experimental Thermal Fluid Sciences. The working hypothesis is proposed first and then a specific plan is derived from the hypothesis. The problem is divided into manageable parts (step-by-step approach). The purpose of the experiments is to confirm or to reject the hypothesis. The presentation introduces several examples of the recent original results: the influence of the flow structure on heat transfer, passive/active flow control of impinging jets, convective heat transfer enhancement of (steady or pulsatile) impinging jets, synthetic jets, hybrid synthetic jets, stability and bistability of jets, and thermal flow control of wakes. The examples emphasize the role of the discussed methodology, namely the roles of the task motivation, working hypothesis, and interpretation and publication of the results.
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The role of polyploidisation in the evolution of the genus Chenopodium with a focus on Chenopodium quinoa
Babčanová, Natália ; Štorchová, Helena (advisor) ; Cvrčková, Fatima (referee)
Chenopodium is a cosmopolitan paraphyletic genus. Belongs to the Amaranthaceae family and the Chenopodioideae monophyletic subfamily. Diploid, tetraploid and hexaploid species are found in almost all evolution branches of Chenopodioideae, in the case of Chenopodium album, different degrees of ploidy occur within a single species. The degree of ploidy is an important factor in the study of evolution and phylogenetic relationships between Chenopodium species and it also affects the speciation and morphology. The genus Chenopodium includes weeds as well as cultivated crops, such as Chenopodium quinoa, Ch. pallidicaule, Ch. ambrosioides or Swaeda foliosa. Quinoa (Chenopodium quinoa) is the best known species of the Chenopodium genus. It is an allotetraploid (2n = 4x = 36), derived from the same albeit not yet known diploid parents as a closely related tetraploid Ch. berlandieri. Some of its alleles segregate as in a functional diploid, which complicates genetic analyses and breeding efforts. This species features high genetic variability due to gene flow between weed and crop populations and some other evolution processes that are affected by polyploidy. Quinoa is referred to as a pseudocereal and it has been used as a crop in South America as early as in the Inca times. It can survive at locations unsuitable...
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Generalized Stokes systems - theoretical analysis approach
Holeček, Martin ; Pokorný, Milan (referee) ; Málek, Josef (advisor)
We consider steady flows of homogenous incompressible fluid described by generalized Stokes system. We study two models, first with shear-rate dependent viskosity and second with pressure and shear-rate dependent viskosity. We investigate internal flows in bounded domains subject to Navier's boundary condition. First, to show the difference, we present proofs of existence and uniqueness of solutions for both systems. Then we investigate, what are the assumptions allowing to take the fluid mechanics limit, as Navier's boundary conditions approximate first no-slip and then (perfect) slip boundary conditions. Finally, we consider for simplicity specially periodic problem and show regularity result (integrability of the second derivatives of the velocity and the first derivatives of the pressure).
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Interaction of compressible fluid with bodies
Šimánek, Petr ; Feistauer, Miloslav (advisor) ; Dolejší, Vít (referee)
In the present work we study interaction of compressible viscous and inviscid flow with airfoil. We describe Euler equations and compressible Navier-Stokes equations. The space and time discretization of these equations in timedependent domains is made with the aid of the discontinuous Galerkin finite element method (DGFEM). To study the flow in the time-dependent domains the Arbitrary Lagrangian-Eulerian (ALE) method is used. The equations describing motion of airfoil with two degrees of freedom are derived. We present and compare results of the flow with prescribed airfoil motion and of fluidstructure interaction for both viscous and inviscid flow. We present subsonic and transonic results.
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Hedging and currency risk management in the area of commercial banks
Šimko, Marek ; Kolman, Marek (advisor) ; Leová, Simona (referee)
The bachelor thesis is focused on FX risk mitigation and its management in the area of commercial banks. The whole concept deals with a FX risk definition, its quantification through various VaR methods and hedging by using appropriate financial derivatives. Theoretical background is applied into a practical simulation in order to view a decision making process of an imaginary entity influenced by estimated future cash flows resulting from its own portfolio. The final output represents a complex solution of FX risk management with incorporated regulatory authorities requirements.
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Valuation of the Vodafone Czech Republic a.s.
Fejfarová, Petra ; Heřman, Jan (advisor) ; Zeman, Karel (referee)
This thesis is concerned with valuation of a firm. The Theoretic part contains a brief description of the valuation methods most commonly used at the present time and a procedure of valuation. The main part of the thesis focuses on application of yield pricing methods. The object of this thesis is to find out a value of Vodafone Czech Republic a.s. company by using Price-Earnings and Discounted Cash Flow methods. Macro and micro analysis together with financial analysis and financial plan create a good base for valuation. Finally, the work compares results derived from these methods and it assesses its suitability.
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Damping of Pressure Pulsations in Elastic Pipes
Panko, Martin ; Pochylý, František (referee) ; Habán, Vladimír (advisor)
This diploma thesis deals with numerical simulation of pressure pulsations in elastic pipes. Continuity relation of fluid in elastic pipes, when calculating some damping in pipe material, is derived into practice. Rheological model of such a pipe corresponds to Voigt (Kelvin) model. For analysing dynamic effects in time periods are used numerical methods that deal with flow of compressible fluid: FTCS, Lax-Friedrichs and Lax-Wendroff method. The numerical results are confronted with the experiment. During the experiment simulation the method considers speed of sound in liquid like a function of pressure. This diploma thesis lays partial principles for finding elastic constants for describing dynamic characteristics of elastic pipes by measuring the pressure pulsations.
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Organized industrial metal markets in the financialized commodity markets
Smolík, Kamil ; Kulhánek, Lumír (referee) ; Myšková, Renáta (referee) ; Rozmahel, Petr (referee) ; Rejnuš, Oldřich (advisor)
In connection to the process of financialization of commodity markets which is caused by the sharp increase of money flowing into the commodity markets, the question of which factors affect commodity and commodity indices prices is discussed. The aim of the dissertation is to determine and quantify the factors affecting the prices of industrial metals during the period of financialization of commodity markets and derive the pricing model of industrial metals, which would be able to generate signals of a possible overvaluation or undervaluation. The paper examined non-ferrous industrial metals traded on the Commodity Exchange LME (London Metal Exchange), namely aluminum, copper, lead, nickel, tin and zinc. These metals are also included in the most of the world's composite commodity indices. The dissertation analyzes the contemporary developments in commodity markets; relationship between the price volatility and fundamental factors (including production, consumption and stocks of chosen metals and a wide range of macroeconomic determinants) or the relationship between risk and return of industrial metals. The closing part of the dissertation focuses on the creating of composite pricing indicator for copper and tin by using the Boosted Trees method. The results obtained in the research show that created indicator is able to explain the volatility of the 3m copper futures contracts by 94.25% and 3m futures contracts of tin by 96, 79% in the period from 1/2000 to 3/2015.
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