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The main principles of the development of pension insurance in the territory of today's Czech Republic from the end of the 19th century to the present
Hrdý, Milan ; Štefko, Martin (advisor) ; Fischerová, Iva (referee) ; Lang, Roman (referee)
The doctoral dissertation "The main principles of the development of pension insurance in the territory of today's Czech Republic from the end of the 19th century to the present" deals with the issue of the historical development of pension insurance in the territory of today's Czech Republic from the end of the nineteenth century to the present. The main principles of the development of the pension system in the given period were identified and the analysis was performed mainly in terms of the personal and material scope of insurance, insurance obligations and briefly also in terms of the organizational security of the pension system. This analysis was carried out in four selected periods, in the period before the establishment of the independent Czechoslovak Republic, in the period from 1918 to 1945, in the period from 1945 to 1992 and from 1993 to the present within the independent Czech Republic. At the end of the work, the relevant findings from this historical development were summarized and with their use the author's own proposal for the development of the pension insurance system in the Czech Republic in the future was presented. The stabilized material and personal scope of the pension insurance must be maintained, as well as high-quality of the procedural security, including a sophisticated...
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Valuation of a Commercial Bank
Hessová, Barbora ; Hrdý, Milan (advisor) ; Kuchyňa, Pavel (referee)
This diploma thesis is dedicated to the bank valuation. In the theoretical part all specifications of bank as a subject of valuing and also usual methods of bank valuation are mentioned. The practical part provides valuation of chosen commercial bank which is J & T BANKA, a.s. The main steps to find bank market value are financial analysis, strategic analysis and financial plan. At the end the value is determined by income based valuation and bond pricing model.
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Valuation of Tatra banka, a.s.
Baroniak, Jozef ; Hrdý, Milan (advisor) ; Kuchyňa, Pavel (referee)
The aim of this thesis is to calculate the market value of the Tatra banka, a.s. The first part is aimed at the specific features and methods of valuation of the banks. The second part is focused on the valuation itself and consists of the financial and strategic analysis, financial plan building and the valuation by appropriate methods.
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The ifluence of the capital structure on the company valuation
Mihailova, Iulia ; Hrdý, Milan (advisor) ; Holečková, Jaroslava (referee)
This thesis investigates the relation between capital structure and company value. The theoretical part of the thesis discusses different approaches to finding the optimal and most efficient capital structure for the company. Even though a broad theoretical basis related to the topic of capital structure exists, quantifying the theoretical background can lead to a variety of problems. Until now, no clear approach to optimizing the capital structure has been identified. In the practical part of the thesis, theoretical knowledge is applied on a real company COOP Jednota in Jindřichuv Hradec and an optimal capital structure is proposed.
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The Analysis of the Pension Systems and Pension Reforms and their Possible Applications in the CR
Hrdý, Milan ; Štefko, Martin (advisor) ; Bělina, Miroslav (referee)
The submitted thesis deals with the analysis of pension systems with possible application of acquired knowledge on the conditions of the Czech Republic. Theoretically, the work is based on analysis of pension insurance and pension systems, as well as on the analysis of possible ways of implementation of pension reforms. From a practical point of view pension systems and reforms in selected countries are analyzed. These theoretical and practical bases are subsequently used for a comprehensive analysis of the pension system in the Czech Republic, including an analysis yet undertaken pension reforms. The knowledge gained is then synthesized into the appropriate conclusions and some concrete suggestions are made for specific adjustments to the system in the future. The pension system in the Czech Republic is a modern pension scheme which includes elements of solidarity and merit and excluding state pay system enables the system of additional forms of security under the third pillar of the pension system. Problems occur in conformity political representation on systemic changes in the pension system which had a negative impact in the initial implementation and subsequent cancellation of the second pension pillar. For the future, it is recommended primarily to use the Pan-European pension system with the...
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Business Valuation of Selected Company
Hradcová, Petra ; Hrdý, Milan (advisor) ; Kuchyňa, Pavel (referee)
The thesis aims to determine the value of the company Mlékárna Hlinsko, a.s. at December 31st 2014 at the nett value. The theoretical part deals with the definition of basic concepts and practices in the field of business valuation. In the practical part follows the introduction of the company in terms of its operations, history and ownership. The strategic analysis describes the current development of the market, its prediction and competitive position. This part continues with financial analysis, which aims to determine financial health of the company. On that basis, it is decided about the infinite duration of the company. There has been chosen yield valuation method. It continues with analysis and forecast of value drivers and a financial plan. It is followed by valuation itself.
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Valuation of Raiffeisenbank, a.s.
Horáková, Klára ; Hrdý, Milan (advisor) ; Kuchyňa, Pavel (referee)
The aim of this thesis is valuation of selected commercial bank. The first part of thesis is focused on specifics of commercial banks in comparison with non-financial companies. The second part analyses methods of valuation of commercial banks. Third part deals with valuation of Raiffeisenbank a. s. It consists of financial and strategic analysis, financial plan and finally the valuation of the bank.
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Valuation of company AGF Logistics, Ltd.
Vinohradská, Veronika ; Hrdý, Milan (advisor) ; Kuchyňa, Pavel (referee)
The purpose of this thesis is the valuation of AGF Logistics, Ltd. The diploma thesis consists of financial analysis for the years 2011 to 2015, from the strategic analysis, financial plan drawn up for the years 2016 to 2020 and valuation of the company. Company valuation is done based on the DCF entity method using other supporting methods.
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Valuation of the family company Tank ONO s.r.o.
Janhuba, Jan ; Hrdý, Milan (advisor) ; Kuchyňa, Pavel (referee)
The aim of this thesis is to evaluate the company Tank ONO Ltd. independent buyer for the date 31. 12. 2014. The work consists of a theoretical part, which provides the theoretical bases to the process of valuation and the practical part. The practical part shows the practical application of theoretical knowledge to a specific company and is made up of strategic and financial analysis, followed by generators of values and financial plan. In conclusion, the valuation of the company itself, for which it has been used as the main method DCF Equity and additionally capitalized earnings method.
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Capital structure of Czech joint stock companies and its determinants
Poulová, Lucie ; Marek, Petr (advisor) ; Hrdý, Milan (referee)
The aim of this thesis is to perform an analysis of capital structure of joint stock companies based in the Czech Republic. The first part of the thesis introduces modern theories and main determinants of capital structure. Further it stakes out basic models used for testing the validity of mentioned theories and the methodology used. The second part of the thesis focuses on practical results of the analysis. The first chapter summarises descriptive analysis of the passive structure, the level of leverage, the composition of equity and liabilities of the joint stock companies. These ratios are judged mainly according to industry classification and the type of ownership. In the next step, the relationship between leverage and profitability is closely explored since it is thought to be one of the main determinants. In the last chapter, the models are applied to the sample of Czech companies with the effort to judge the validity of capital structure theories and to evaluate the effect of determinants on capital structure.
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