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Hedging currency risks in the context of Czech export
Renč, Jan ; Žamberský, Pavel (advisor) ; Šaroch, Stanislav (referee)
The main focus of this work is on hedging of currency risks with special emphasis on the case of Czech export. In the first chapter, I create a motivation for further studying of the problem. I describe the state of export industries and the economy as a whole and how these aspects are connected to the exchange rates. In the second chapter, I explain how firms create their assumptions about future exchange rates. I also run a Monte Carlo analysis on historical data and come with predictions of my own. In the third chapter, I am discussing the relevance of using VaR models for estimating the maximum possible loss of funds due to unwanted moves in the exchange rate. Furthermore, I describe various instruments usable for hedging of currency exposure including forwards, options, swaps and other derivatives. In the final chapter of this work, I am asking financial and sales directors of 51 Czech firms about how currency risks influence their businesses and how they protect themselves against these threats.
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Czech development cooperation and humanitarian aid
Perková, Markéta ; Šaroch, Stanislav (advisor) ; Pavlík, Petr (referee)
First chapter of this thesis is dedicated to the history, aims and principles of Czech development cooperation and humanitarian aid. The second chapter analyses the impact of the financial crisis on the amount of Czech aid to developing countries in comparison with other member states of EU. Furthermore, this thesis evaluates the coherence of Czech development cooperation with the principles of development policy of UN, OECD and EU concerning the effectiveness of development aid. The last part of this thesis describes the weaknesses of the Czech development cooperation and offers their possible solutions.
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The future of the Dollar as the global currency
Príkopa, Ivan ; Šaroch, Stanislav (advisor) ; Sudliankou, Aliaksandr (referee)
The main goal of my bachelor thesis is to consider past and present position of the U.S. Dollar in the world economy and possible development in the future. In the first chapter, I focus on the entry of the Dollar among the world currencies, mainly on the reasons for abandonment the British pound as a former global currency. In the next part, I consider usage and significance of the American currency in the world. The last chapter is aimed at possible future perspectives in the area of the global currencies. Part is mainly concerned on the alternatives of the Dollar in his position. Then I focus on opinions of the experts in this field. Each author shows different point of view on the problem and together, they give broad perspective about the future. Important was also concerning the attitude of China, as the main holder of Dollar reserves.
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EU merger and and dominating position policy: Forming of Visegrad countries banking sectors by cross-border mergers and acquisitions
Hartmann, Ivo ; Němcová, Ingeborg (advisor) ; Šaroch, Stanislav (referee)
An unprecedented process of financial consolidation has taken place in the European Banking Sector over the past 20 years, which in the Visegrad countries was combined with economic transformation. As such, analysis of mergers and acquisitions is made with a view to the importace of the recent economic transformation and scope for further economic development and the Thesis is introduced by an analysis of the banking transformation in the Visegrad countries. Afterwards follows a theoretical part describing and analysing European legislation concerning banking mergers and acquisitions, incentives for them, factors, that support and hamper them, and the synergy following banking consolidation and its impact for supervisory bodies. Finally, building on the abovemetioned theoretical knowledge and premises, we apply them to the economic and banking environment of the Visegrad countries, i.e. we analyse the impact of the European cross-border mergers and acquisitions law on structural indicators of the banking sectors in the Visegrad countries.
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Some aspects of economic diplomacy on the example of Czech Republic and New Zealand
Janeková, Jana ; Šaroch, Stanislav (advisor) ; Hnát, Pavel (referee)
The paper analyses relations between economic diplomacy and foreign development assistance. The ground of the analysis constitutes theoretical and practical concept of foreign development aid provided by the Czech republic and New Zealand set into the scope of economic diplomacy. The approaches of indicated countries are compared in aspect of total volume, territorial and issue allocation and the potential to utilize foreign development aid as a tool of economic diplomacy is assessed.
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Comparison of economic development of Botswana and Democratic republic of Congo since decolonisation
Čižmárová, Lucia ; Pavlík, Petr (advisor) ; Šaroch, Stanislav (referee)
The aim of the bachelor thesis, "Comparison of economic development of Botswana and the Democratic republic of Congo since decolonisation", is to map the development of both countries since the decolonisation. In the case of Botswana, the thesis analyzes successful steps that bring the country to relative prosperity and compare it with the results of the Democratic Republic of Congo. The thesis contains the charactersitc of both countries from economic and political viewpoint. The analysis of 5 factors: good governance, the resourse curse, mining diamonds in Botswana, armed conflict in the Democratic republic of Congo and the prevalence of HIV play important role in development. Review of the current situation concentrates on foreign trade and foreign direct investments. In conclusion, the thesis concerns potential challenges of the diversification of production adn exports, privatisation and the increase of the level of education.
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Organic farming as a way towards sustainable development
Fontánová, Barbora ; Šaroch, Stanislav (advisor) ; Vondrušková, Barbora (referee)
The aim of the thesis "Organic farming as a way towards sustainable development" is to consider whether the organic farming is a feasible mean to obtain sustainability, eventually under what conditions. In the initiatory chapters, the terms of sustainable development, its evolution, different approaches and methods of measurement, sustainable agriculture and organic farming and its principles will be defined. The core analysis will examine the organic farming from three views corresponding with the three pillars of sustainable development. Ecological aspects involve impacts of organic farming on nature; economic aspects deal with the viability of organic farm and efficiency of organic farming as a governmental tool; social viewpoint cover the ability to feed the present and future population and be a benefit in general.
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The Economic Policy of Angola during the Civil War
Osičková, Martina ; Pavlík, Petr (advisor) ; Šaroch, Stanislav (referee)
The following Bachelor's thesis deals with the analysis of the politics of Angola in the period of the civil war and after its end. The thesis unravels issues related to the outbreak of internal conflicts both theoretically and through the case study of Angola. Furthermore it deals with economic policy during the war and describes the political developement since achievement of independence until the end of the war and various political orientations which were present in the country. In detail the thesis focuses on the policy of oil industry. It tackles a question of its impact on economy of the country and dependency of Angola's economy on this industry. Moreover the thesis explains the situation in agriculture and Angola's agricultural policy. An important chapter is that which refers to corruption in Angola. The corruption is expressed by figures and illustrated with an example of a particular corruption affair. The last chapter mentions some basic economic data which illustrate the development of Angola since the beginning of the civil war until present.
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The entry of new EU member states in ERM II - theory and practical experience
Čuchranová, Mária ; Šaroch, Stanislav (advisor) ; Helísek, Mojmír (referee)
The work deals with the Exchange Rate Mechanism ERM II, explains the reasons for its creation, the gradual evolution and basic principles of its functioning. It refers not only to the common but also different features in comparison with the original mechanism ERM. Furthermore, it adverts to the issue of exchange rate stability assessment from the view of the European Central Bank and the European Commission and describes the procedural steps leading to ERM II participation. The practical part of this work deals with development of the economic situation in selected countries (Finland, Ireland, Denmark, Estonia and Slovak Republic) during their performance in the Exchange Rate Mechanism ERM / ERM II, including the solution of a macroeconomic stability problem so-called Impossible Trinity. In the case of the Czech Republic this work features its ERM II entry strategy with incorporation of the factor of the current global financial imbalance.
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