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Evaluation of the previous policy of the ECB in terms of its impact on national economies of the eurozone
Kleštinec, Ivan ; Mandel, Martin (advisor) ; Brůna, Karel (referee)
The ECB was established during the third phase of the economic and monetary union and its activities launched on 1. 7. 1998. It has become a new independent institution whose primary task became the conduct of monetary policy for countries that have accepted the euro currency. This bachelor thesis examines the impact of monetary policy in selected countries of the euro area. ECB affects individual national economies using its strategies and instruments, such as interest rates, minimum reserve requirements or change over the amount of money in circulation, whether through expansive or restrictive policy. It tries to act counter-cyclically to stabilize the price level and economic growth or to promote it. Monetary policy is the same for all countries, although the results are different because every country in the euro zone determines its own fiscal policy.
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BitCoin Wallet for Windows Phone Platform
Prokop, Tomáš ; Grégr, Matěj (referee) ; Veselý, Vladimír (advisor)
Master's thesis deals with description of a new trading system known as BitCoin. Bitcoin is a unique type of virtual cash in the current world without the influence of large corporations. The system is protected through the use of cryptographic methods that are discussed in detail. The work explains the principles of integrity of transactions exchange transactions and the acquisition of new money through so-called miners. Individual miners services are mediated through software clients including a description of mining. The paper focuses on protocols for communication. It analyzes the different types of software purses for platforms Windows, Linux and Android. Examining reengineering of purses for Android. This document in no small part discusses the implementation own wallets for the Windows Phone platform 8th.
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Modern Banking and Preference Channels
Regináč, Jozef ; Ryska, Pavel (advisor) ; Pečená, Magda (referee)
Financial markets are nowadays more important than ever. Financial crisis of the previous decade demonstrated their power to influence stability of the whole economy. Since the consensus blames weak regulation and considers the only solution to be its extension, this thesis tries to provide the proof of existence of other options. The focus is firstly aimed at the weaknesses of the fractional reserve banking, which does not follow the basic legal principles of a deposit contract. This practice results in price fluctuations and favoritism of first takers of newly created money. Moreover, the thesis develops a new method of analysis, which emphasizes the application of preferences in exchanges. Important outcome of this method is the demonstration that the public does not have to always prefer the most evolved form of institution. All institutions within commercial banks are then analyzed with the use of this method and the thesis shows where preference channels are being interfered with. This analysis also reveals another outcome of fractional reserve banking, which is that the newly created money is only used according to the preferences of commercial bankers. We suggest that circumvention of the true nature of a deposit contract leads to a similar outcome in loan banking, where funds gathered by loan...
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Impact of legislative changes in the realm of lotteries on the funding of sports by municipalities
Krupicová, Kateřina ; Sedmihradská, Lucie (advisor) ; Tecl, Jan (referee)
This Master´s thesis deals with the impact of legislative changes in the realm of lotteries on the funding of sports by municipalities. This issue is explored in the practical part and the town of Jindřichův Hradec was used as an example. The aim of the thesis is to characterize the system of the funding of sports. Also, the thesis compares and contrasts the legislative state of the Act No 202/1990 Coll. of lotteries and similar games before and after its amendment which came into force on 1st January 2012. Finally, the thesis describes and assesses the support of sport clubs and sport associations by the town of Jindřichův Hradec, including practical calculations of the effects the law amendment had on the local handball club and its financial resources. It was found out that, in comparison with similar-scale cities, the town of Jindřichův Hradec provided above-average financial resources into the field of sport. The comparison of subsidy rules revealed that the new subsidy program presents the improvement, especially with the following aspects. First, there is the introduction of the preferred sport clubs institution. Second, there is the cancellation of the initial division into categories. Third, there is the establishment of the independence of the grant committee members. After an initial hesitation, the town approached the division of the money gained from lotteries very transparently and it usually tied up the allocation of the revenues to a current subsidy system. As far as the local handball club is concerned, there was palpable a positive change between the periods before and after the amendment.
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Fiscal Equalization in Germany.
Mynaříková, Romana ; Pešek, Jiří (advisor) ; Mlsna, Petr (referee)
The thesis "Financial Equalization of German Federal States - a Key German Domestic Political Issue of the Turn of the Millennium" describes one of the most important elements of the German financial system, which has been in place since 1950s. It has its constitutional justification in the principle that citizens cannot be treated differently by the government simply because they live in different parts of the federation (article 107 of the German Constitution). The fiscal equalization exists in the form of redistribution of tax revenue (individual and corporate income tax and turnover tax) primarily according to the size of the population in each German state (Bundesland). It takes place vertically between the federation and individual states and simultaneously horizontally among states themselves. The "Länderfinanzausgleich", interstate horizontal fiscal equalization among the Länder, is certainly the main factor of interregional solidarity in Germany. Without central government's intervention, it organizes the horizontal redistribution of fiscal revenues among the Länder, including the five new Länder since 1995. The operating mechanisms are quite complex. Since the amount of money, which the rich states have to pass on to the poorer states, is enormous, the financial equalization became one of...
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Performance management system and motivation
Petera, Petr ; Fibírová, Jana (advisor) ; Wagner, Jaroslav (referee) ; Havlíček, Karel (referee)
The positive impact of performance measurement and management (in connection with rewards) on motivation of workforce have been questioned in recent years and decades. The conceptual part of the thesis strives to identify whether the above mentioned criticisms of discussed systems is based on their inherent properties (characteristics) or on properties (characteristics) of their specific implementations. Extensive multidisciplinary literature review (especially from the fields of accounting, performance measurement, financial management, microeconomics, labor economics, behavioral economics and psychology) showed that the performance measurement and management systems (including linkages to remuneration) have the potential to positively impact motivation, work effort and performance of workforce. Refusing this potential, which often occurs especially in relation to remuneration, is based on specific applications, and it must be dismissed as simplistic. The literature review also helped identify the factors and characteristics of the discussed systems, which are crucial for their positive motivational effect, as well as properties that are usually undesirable in terms of motivation. Another significant outcome of the conceptually oriented part of the thesis is a model framework enabling detailed analysis of rewarding for performance. The thesis also describes and discusses the results of two empirical surveys, the first of which was focused on the analysis of performance measurement and management system and remuneration system, and the second survey was primarily focused on detailed analysis of the system of remuneration and motivation of workforce. Regarding performance measurement, as positive can be perceived the fact that strategic performance measurement systems of the balanced scorecard type are intensively used, including the search for causal links between measures and efforts to link these systems to the remuneration of workforce. It should be noted however, that the issue of interconnection of balanced scorecard systems with remuneration of workforce is by respondents considered to be one of the biggest problems of balanced scorecard implementation. Therefore is identified an area where further research is needed, particularly in the form of case-study based research. All respondents indicated the use of budgets to fulfill many functions (e.g. tool for financial management in terms of coordination and verification of planned business objectives and early risk detection, tool for setting of targets of the business as a whole, and tool for internal motivation and management) and it is possible to conclude that there is no abandonment of budgets (as sometimes implied by "beyond budgeting"). A surprising finding was little use of new performance measures, especially economic value added (as top financial measures were usually referred EBITDA and EBIT). The results of both surveys showed that respondents seek to implement quality systems of remuneration, but revealed were also some problematic features of these systems. Particularly important is the fact that rewards for long-term performance are relatively little used, which can lead to short-term oriented decision making of managers. This problem is exacerbated by the fact that rewards are usually awarded in the form of money; the use of equity-based rewards (e.g. shares) is very low. Furthermore, insufficient is also utilization of rewards in the form of work-life balance programs and utilization of rewards in the form of appreciation.
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The impact of the economic recession on the field of human resources management in organizations
Nakládalová, Petra ; Kocianová, Renata (advisor) ; Pivoňková, Lucie (referee)
This diploma summarizes to readers the essential causes of orgin of economic recession in these days (2007 - 2009), its form and run in the Czech Republic and its impacts in business area. The main part of my thesis deals with the impact of the economic recession (crisis) on human resources management and development of human capital. I pursue mainly the topic of change of personnel activities in companies, change of the role of human resources managers, associates and leading managers, which are the substantial part of HR management and development of the people. This work describes the topic of economic recession from the unique view of HR department or leading managers. Economic issues of the company present problems even for all activities within human resources management. The shortage of money restrains dramatically all possibilities of the firm in this area. In times of economic crisis the companies make decisions about layoffs, cutting of many personnel activities regarding employee's care and services, cutting of the benefits and about the change of rewarding system ect.. This situation is usually followed by strong emotions, stress, frustration and no-confidence. Many employers could have tried to experience their new role in position of a crisis manager,an initiator and a manager of changes. The...
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Gambling industry in CR - history, legislature, internet gambling
Znamenáček, Jiří ; Ježek, Tomáš (advisor) ; Chalupníček, Pavel (referee)
Gambling is very controversial theme. There are many reasons, why this business is so controversial,for example : huge amount of money, chance for money laundering, chance for winning money. Gambling is wagering money on an event with an uncertain outcome with the primary intent of winning additional money. Purpose of my diploma work is a comparison situation of gamling industry in Czech republic and in the rest of the world. My diploma work has many parts.In the first one I describe the history of regulation in the United States and then I show economic dates from presents: casino locations by category, casinos per state, commercial casino tax revenue by state and national commercial casino revenue. Next I explain a special american category of casino and it is tribal casino and than I show tribal gaming revenues by region. In the next part I describe the history of gambling in the Czechoslovakia and contemporary situation in Czech republic, especially the situation in internet gambling. Internet gambling is the transformation of casino games of chance and skill to the internet. In the Czech republic is an unsatisfactory legal regualtions, because there is a obsolete rule. Therefore domestic operators can not obtain a licence for offering online gambling services to Czech residents, whereas foreign operators offers these services, but illegal. Therefore is necessary to create a new rule, which will be able to change this unsatisfactory situation. In the next part I write about three big cases, which are important for situation in european gambling industry. European commission and European court of justice have both a big influence and I describe, what they do for better situation in european gambling, because some states ( for example Germany ) prohibit internet gambling on their own territory, but this is problem, because this rule is in discrepancy with law of European union. In Czech republic is internet gambling for foreign company prohibited too and I explain, what is the reason for this situation. This diploma work contains my own research, how works telephone and internet gambling.
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The Impact of Change of the Parental Allowance on Decision of Mothers.
MARKOVÁ, Eva
Abstract By the end of 2007 the parental allowance was so high that many beneficiaries, especially those without any or low qualifications, never received a similar income in their job, which obviously resulted in a situation that some parents found it financially disadvantageous to return back to work. The new system of maternity leave makes it possible to draw the parental allowance during a shorter period of time whereas the amount paid differs depending on the time during which it is received. The objective of the graduation work was to map out the situation regarding the drawing of the parental allowance and reasons for choosing various options. The following hypotheses were determined based on this objective. 1st: Women who have the employment contract for a limited period of time pick a shorter alternative of parental leave than women with a contract for an unlimited period of time. 2nd: Women with a higher income select a shorter parental leave than women with a lower income. To obtain the necessary data to fulfill the determined objectives, the author used the questionnaire technique. The questionnaire was anonymous, it was filled in by women who have recently delivered a baby and it comprised 12 questions. 159 questionnaires were distributed during two months in 2008. The determined hypotheses were confirmed by the research. The results showed that the most preferred period of parental leave is three years with an income of 7600 CZK. As a reason for choosing this option the respondents answered that their employer ``reserves`` a job for them for three years and they can devote all their time to the baby. They find the amount of the allowance satisfactory. Most of them indicated they were yet to decide whether they were going to earn extra money during the parental leave and they did not know what they would do. If mothers need to leave their baby, people from their families usually babysit. Most of them would not trust a nurse. It was mostly young women (18 {--} 25 years of age) who indicated that they would not mind a nurse looking after their child. Changes which occurred in the field of parental leave and parental allowance need to be accompanied with relevant changes in other fields related to combining work and family, such as pre-school facilities and nursing centres for children younger than three years of age and also more flexible working hours. Family and employee policy should pay more attention to programmes supporting return to the labour market after the parental leave.
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Economic rights in copyright
Vorek, Miroslav ; Wünschová Pujmanová, Alexandra (advisor) ; Císařová, Zuzana (referee)
My thesis deals with economic rights in copyright. Economic rights in copyright are the rights that have an economic importance. They provide authors a possibility of financial evaluation of their creative work or at least prevent other persons, without permission of the author profited from his creative effort. There are many authors, but not all of them can live on their creation. However every single author may be sure that nobody will dispose with his work without he has the possibility to influence it. The possibility of financial satisfaction is not only a financial reward for the activity of the authors, but it is also a motivation for them to spend their time by creating. Economic rights in copyright enable authors to make their works available to the public and currently to have control over such activity, that can be very profitable for others. Thanks to their economic rights the authors can participate in the economic success of their works achieved by making them available to the public. It is for the good of the authors to make their works available to the public. They can acquire new fans, share their feelings, know the views of others, learn how to improve , become popular and famous, earn money. But making works available to the public may be a complicated process, which requires a...
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