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Facilities for Exchange Rates Risk Reduction in the Company FLÍDR, s.r.o.
Flídrová, Kristýna ; Polák, Josef (referee) ; Beranová, Michaela (advisor)
Master´s thesis deals with possibilities of exchange rates risk reduction in the company FLÍDR, s.r.o. Exchange rate volatility has begun to be a serious problem of many business entities. Unfortunately, the Czech Republic will not join Economic and Monetary Union of the European Union for longer time. The outcome of Master´s thesis is the suggestion of utilization of financial derivatives and proposal of new financial derivatives. Proposed financial derivatives are composed to minimize exchange rate risk in the company FLÍDR, s.r.o., and to minimize losses caused by exchange rate volatility of Euro currency.
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The currency derivatives and their use for hedging of currency rate risk
Bartoš, Ondřej ; Málek, Jiří (advisor) ; Staniek, Dušan (referee)
My Bachelor s thesis deals with the analysis of currency derivatives and their use for hedging of currency rate risk. In the first part (chapters 1 and 2) the thesis describes foreign exchange markets and currency rate risk. In the second part (chapters 3 to 7) the thesis describes derivative instruments, in particular currency forwards, foreign exchange swaps and currency swaps, currency futures and currency options. In my thesis I focused only on the potential of hedging currency rate risk. The bachelor s thesis is theoretical and drew from Czech book publications, foreign book publications, information sources of the financial institutions and real statistical data. Based on the combination of theoretical facts and exact data the thesis illustrates that financial derivatives offer effective solution for hedging of currency rate risk a their use prevents future financial losses of the negative development of currency rates.
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Vývoj struktury devizového trhu se zaměřením na Hongkong a Singapur
Vu, Thi Lan Anh ; Brůna, Karel (advisor) ; Šíma, Ondřej (referee)
Bachelor thesis analyses the development of the structure of the foreign exchange market. The theoretical part describes global foreign exchange market, its core and functions, subjects entering to the market and also the technique of performing operations. The empirical part focuses on the development of the foreign exchange market in Hong Kong and afterward this market is compared to the foreign exchange market in Singapore, which foreign exchange markets are the world's financial centres.
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Possible useage of financial derivatives in international business
Siuda, Jan ; Taušer, Josef (advisor) ; Čajka, Radek (referee)
The thesis is analysing the possible usage of financial derivatives in international business operations at two levels. These are hedging against risks (currency, interest rate and commodity risks) and the possible derivative application within marketing activities. The thesis describes the derivative market dynamics, explains the basic instruments and describes essential trading principles. Based on the three separate case studies, the possible derivative usage in international business is illustrated.
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Trading of an exporting company in euro currency, minimizing the costs of payments and accounting
SMOLENOVÁ, Lenka
The aim of this thesis is to identify the problem areas of trading in euro, while focusing on search for options of reducing costs related to euro account management and business transactions in an exporting company. In the theoretical part, various risks of international business are explained. The next chapter focuses on the foreign exchange risk management, followed by a chapter dedicated to hedging against the exchange rate risk, especially forwards, futures, swaps and options. In the conclusion of the literary review, the accounting of financial derivates and foreign exchange differences is listed. In the practical part of the thesis, data from a specific company with object in sewing textile products are used. This company exports its products in the European Union countries; therefore, the invoiced currency is euro. The company is assessed from a general point of view, with remarking the descending trend in the number of its employees, and using data from income statements. Further assessment of the company was done using benchmark, when the company was compared to four other companies with the same object, located in South Bohemia. The company placed fourth. Furthermore, the risks connected to the international business of the company ABC, a.s., are identified, with measures being suggested which could eliminate these risks and reduce costs related to the fact that the company is export-oriented. The next chapter is focused on the survey of bank institutions and exchange rate companies and, as a consequence, on analysis which options could be offered to the ABC, a.s., company and what are the costs related to these products. To reduce the payment costs in the ABC, a.s., company, two alternatives are suggested. In case the company manager is risk-aversive, the option of a well-established bank institution is offered. In the second case, when the manager is a risk-taker and would opt for a more profitable exchange rate, the foreign currency company would probably be the choice. Since the company does not hedge against the foreign exchange risk, the currency forward is suggested as the hedging instrument. In conclusion, the way how to account such currency forward is stated. This means that this thesis will in fact serve as an internal directive draft for accounting forward, to be used in practice.
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History of mathematical modelling on financial markets
Cigán, Martin ; Brada, Jaroslav (advisor) ; Langer, Miroslav (referee)
The main goal of this thesis is to introduce the reader to the evolution of some of the well-known mathematical models used in the valuation of investment instruments. The first chapter deals with some of the basic terms used in the following text. The next chapters introduce mathematical models, which are used to valuate stocks, bonds and derivatives. Each chapter contains also a brief description of the instrument itself and in some cases the methods used to evaluate the instruments before the introduction of models. The thesis contains a chapter on concept of portfolio due to its importance in the development of mathematical modelling in this field.
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The Use of Financial Derivatives in the Czech Commercial Banking
Lupínková, Lucie ; Půlpánová, Stanislava (advisor) ; Málek, Jiří (referee)
The thesis concerns with the issues of financial derivatives and their use in the Czech banking sector. The introductory part contains essence of derivatives, their categorization (including characterization of particular types), ways of their usage and risks related with them. The main part of the thesis is focused on analysis of evolution of derivatives contracts in the Czech banking and also in chosen bank. The possible future evolution of the Czech derivatives market is also outlined.
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The use of currency futures in the business in terms of CR
ŘÍHOVÁ, Jana
Thesis "The use of currency futures in the business in terms of CR" deals with financial derivatives. Defines the various types of derivatives, their history and development of currency futures and forward contracts in the CR and in the world. Another part is devoted to the use of currency futures and forwards in the business in the Czech Republic. The thesis is to evaluate the evolution of exchange rates EUR/CZK and USD/CZK.
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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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