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Credit risk from Basel II point of view
Čabrada, Jiří ; Dvořák, Petr (advisor) ; Onder, Štěpán (referee)
The thesis "Credit risk from Basel II point of view" deals with new capital concept with main focus on the credit risk. The particular emphasis is laid on the chief issue of Basel II concept i.e. internal models. The thesis quite in detail describes the usage of basel parameters - LGD particularly - in various day-to-day business processes of credit institutions. An individual part of the thesis is devoted to credit risk mitigants and their impacts on the amount of capital requirements. The analysis carried out precedent Basel II implementation indicated the launching of Basel II should imply risk weighted assests to credit risk decline. This documents the last chapter.
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Debt Contracts and Stochastic Default Barrier
Dózsa, Martin ; Janda, Karel (advisor) ; Krištoufek, Ladislav (referee)
This thesis focuses on the theory of asset pricing models and their usage in the design of credit contracts. We describe the evolution of structural models start- ing from the basic Mertonian framework through the introduction of a default barrier, and ending with stochastic interest rate environment. Further, with the use of game theory analysis, the parameters of an optimal capital struc- ture and safety covenants are examined. To the author's best knowledge, the first EBIT-based structural model is built up that considers stochastic default barrier. This set-up is able to catch the different optimal capital structures in various business cycle periods, as well as bankruptcy decisions dependent on the state of the economy. The effects of an exogenous change in the risk-free interest rate on the asset value, probability of default, and optimal debt ratio are also explained. JEL Classification C73, G12, G32, G33 Keywords credit contracts, stochastic default barrier, asset pricing, EBIT-based models, struc- tural models Author's e-mail martin@dozsa.cz Supervisor's e-mail Karel-Janda@seznam.cz Abstrakt Tato práce se zabývá teoretickými modely pro oceňování finančních aktiv a je- jich použitím při návrhu optimálních úvěrových smluv mezi dlužníky a věřiteli. V první části je popsán...
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Art-therapy with Children with Difficult Behaviour Disorders
Kulhavá, Marcela ; Jebavá, Jana (advisor) ; Hátlová, Běla (referee)
SOUHRN Název: Arteterapie s dětmi s těžkými poruchami chování Title: Artetherapy with children with difficult bebehavioral disturbance Cíle : Cílem diplomové práce je aplikovat arteterapeutické techniky při práci s dětmi s poruchami chování a zjistit zda došlo ke splnění daných hypotéz. Hypotézy : 1. uvolnění komunikačních bariér,vyjádření emocí 2. optimalizaci sebehodnocení, tím také vztahů s vrstevníky 3. odklon od nežádoucích projevů chování 4. u pasivních klientů zvýšení aktivity Metody : Diplomová práce používá jak teoretického rozboru východisek, tak praktického ověření této metody. V teoretické části jsou definovány základní pojmy a metody arteterapie, poruch chování a důsledky v kresebném projevu dětí. Dále je zde podán přehled možných příčin vzniku poruch chování. Vpraktické části jsem se především zaměřila na rozbor výtvarné práce dětí. Projekt jsem provedla na základě aplikace jednotlivých technik a subjektivního ohodnocení chování dětí v průběhu provádění technik. Praktická část ve svém úvodu konkretizuje prostředí ze kterého děti pocházejí a podrobnější anamnézy šesti dětí, se kterými jsem delší čas pracovala a získala od nich velké množství nádherných prací. Následuje podrobný rozbor podmínek projektu, zdůvodnění výběru účastníků, rozbor aktivit, popis a význam jednotlivých činností. Výsledky...
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Enzymes of Candida tropicalis yeast biodegrading phenol
Koubková, Zuzana
Effluents of industrial wastewaters from oil refineries, paper mills, dyes, ceramic factories, resins, textiles and plastic contain high concentrations of aromatic compounds, which are toxic to organisms. Degradation of these compounds to tolerant limits before releasing them into the environment is an urgent requirement. Candida tropicalis yeast is an important representative of eucaryotic microorganisms that are able to utilize phenol. During the first phase of phenol biodegradation, cytoplasmatic NADPH-dependent phenol hydroxylase of C. tropicatis oxidizes phenol to catechol. Catechol is in the second phase of biodegradative process oxidized to cis,cis-muconic acid by the reaction catalyzed with catechol-1,2-dioxygenase. In this diploma thesis we investigated the effect of the heavy metal ions on NADPH-dependent phenol hydroxylase and catechol-1,2-dioxygenase of C. tropicalis. Phenol hydroxylase was inhibited by Cu2+ and Pb2+ ions. Catechol dioxygenase was inhibited by all substances containing heavy metal ions (Fe2+ , Mn2+ , Cd2+ , Cu2+ and Pb2+ ), which were tested in this work. The most effective inhibition was produced by Pb2+ followed by Mn2+ , Cd2+ Fe2+ and Cu2+ ions. The higher sensitivity of catechol-1,2-dioxygenase to heavy metal ions might follow from the presence of histidine residue...
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The Use of Physical Education Equipment in P.E. Instruction at Primary Schools
Kodejšková, Petra ; Hronzová, Marie (advisor) ; Zachariášová, Jana (referee)
In my diploma thesis I solve the present situation of applying new development's trends in the area of Health Physical Education of primary school aged children. In the theoretical part, I try to show the characteristics of Health Physical Education from different points of view, e.g. historical, type of weakening, determination of tasks and aims, considering of exercise units and correct principles of Health Physical Education. The main focus of the theoretical part of my diploma thesis is the characteristics of physical education's tools. I try to bring near the information about the usage of traditional and non-traditional tools in Health Physical Education from systematic and complex point of view. The research of my diploma thesis comes out of the theoretical principles and concerns on usage of physical education's tools at primary schools. I try to explain the present situation of this problem through several research methods (questionnaire, conversation, observation and experiment in term of Health Physical Education's unit). The results of my research bring a lot of information, which discovers the absence of exercises with some tools in Physical Education at primary schools. My diploma thesis gives some ideas for teachers for usage of the tools at schools, e.g. collection of exercises set together...
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CORPORATE DEAD CAPITAL MANAGEMENT
Makovský, Zdeněk ; Tetřevová, Liběna (advisor)
The presented doctoral thesis deals with the problems of the corporate dead capital management in the conditions of the Czech Republic. The dramatic development of the financial markets in the recent years, related mainly to the development of communications technologies and to globalization, enabled Czech companies to make easy use of the capital markets to up-value their momentarily surplus dead capital. The reason why Czech companies have not used this possibility so much so far is partly the tradition of using banking institutions, partly the historically not very developed Czech financial market, and last but not least the worries about the risk of money depreciation. This thesis deals with the optimal portfolio creation methods in the conditions of the Prague Stock Exchange, including the risk management. The theoretical part of the thesis analyses the individual segments of the financial and capital markets from different points of view and it also analyses the dead capital management risks. An independent chapter is dedicated to the stock exchange indices as prospective underlying assets for financial derivatives. The chapter then analyses the structure of PX index, which includes the most liquid Czech shares. The thesis pays substantial attention to the legal and economic analyses of the financial derivatives as possible instruments, alternatively utilizable for appreciation of the dead capital. Financial derivatives do not necessarily represent a considerably higher risk for the company than using other financial instruments if their usage is accompanied by suitable risk mitigation methods. The view of financial derivatives as a game of hazard is analysed separately. This analysis aims to avoid potential legal complications that could be connected with financial derivatives. The closing section of the theoretical part describes the Capital Asset Pricing Model (CAPM), and then it extends and modifies it for the conditions of the Prague Stock Exchange. The practical part of the thesis describes the methods of creating the optimal portfolio, which might help the company appreciate the dead capital. The procedures of creating the portfolio are verified on particular titles, including the possibility of using a financial derivative and comparison of both approaches. The conclusion outlines the prospective development of the Czech capital market.
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Enzymes of Candida tropicalis yeast biodegrading phenol
Koubková, Zuzana ; Stiborová, Marie (advisor) ; Turek, Michal (referee)
Effluents of industrial wastewaters from oil refineries, paper mills, dyes, ceramic factories, resins, textiles and plastic contain high concentrations of aromatic compounds, which are toxic to organisms. Degradation of these compounds to tolerant limits before releasing them into the environment is an urgent requirement. Candida tropicalis yeast is an important representative of eucaryotic microorganisms that are able to utilize phenol. During the first phase of phenol biodegradation, cytoplasmatic NADPH-dependent phenol hydroxylase of C. tropicatis oxidizes phenol to catechol. Catechol is in the second phase of biodegradative process oxidized to cis,cis-muconic acid by the reaction catalyzed with catechol-1,2-dioxygenase. In this diploma thesis we investigated the effect of the heavy metal ions on NADPH-dependent phenol hydroxylase and catechol-1,2-dioxygenase of C. tropicalis. Phenol hydroxylase was inhibited by Cu2+ and Pb2+ ions. Catechol dioxygenase was inhibited by all substances containing heavy metal ions (Fe2+ , Mn2+ , Cd2+ , Cu2+ and Pb2+ ), which were tested in this work. The most effective inhibition was produced by Pb2+ followed by Mn2+ , Cd2+ Fe2+ and Cu2+ ions. The higher sensitivity of catechol-1,2-dioxygenase to heavy metal ions might follow from the presence of histidine residue...
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Debt contracts and stochastic default barrier
Dózsa, Martin ; Janda, Karel (advisor) ; Krištoufek, Ladislav (referee)
This thesis focuses on the theory of asset pricing models and their usage in the design of credit contracts. We describe the evolution of structural models starting from the basic Mertonian framework through the introduction of a default barrier, and ending with stochastic interest rate environment. Further, with the use of game theory analysis, the parameters of an optimal capital structure and safety covenants are examined. To the author's best knowledge, the first EBIT-based structural model is built up that considers stochastic default barrier. This set-up is able to catch the different optimal capital structures in various business cycle periods, as well as bankruptcy decisions dependent on the state of the economy. The effects of an exogenous change in the risk-free interest rate on the asset value, probability of default, and optimal debt ratio are also explained.
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Dynamic Asset Allocation
Kudrna, Aleš ; Málek, Jiří (advisor) ; Fučík, Vojtěch (referee)
Today, there is a large amount of assets which are offered to investors, and if we consider the possibility of relocating the investor's funds, we come to a very complicated problem, which this thesis aims to cover. The main objective is to explore the basics of the portfolio theory and its real usage in practice. Emphasis is put on the periodic re-optimizing of the investor's portfolio and getting the answer to the question of whether such conduct is more successful than the standard and investment in equity indices. The theoretical part summarizes the currently used approaches to optimization which are tested in the practical part on real data and evaluated.
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Valuation of distribution rights of the company TROJA MOTO s.r.o.
Vízková, Kateřina ; Svačina, Pavel (advisor) ; Kuchyňa, Pavel (referee)
The main objective of this thesis is the valuation of distribution rights of the company TROJA MOTO s.r.o.. Derivative goal is the specification of an intangible asset (distribution rights), including a comparison of benefits and costs that result from the usage of this right for the company. For the valuation of distribution rights, I apply the valuation method of multi-period excess-earnings, which is suitable for the valuation of specific intangibles. The main part are the strategic and financial analysis, which are important basis for the financial plan. The final chapter includes the calculated value of distribution rights themselves.
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