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National Repository of Grey Literature 2 records found  Search took 0.01 seconds. 
Hedge Effectiveness in Copper Futures Market: Case study for "Erdenet" Mining Co.Ltd in Mongolia
 Khurelbaatar, Baigali ; Krištoufek, Ladislav (advisor) ; Serdarevič, Goran (referee)
The objective of the thesis is to analyze the copper futures market in London Metal Exchange (LME) and to recommend appropriate hedging strategy in copper futures market to the Erdenet Mining Corporation in Mongolia. It uses daily official settlement copper prices of LME in the spot and 3 month futures markets from 2000-2014. Initially, we use cointegration test and ECM to investigate the copper market efficiency. Then OLS, ECM, GARCH, EGARCH and ECM-GARCH models are employed to compute different optimum hedge ratios. Finally, the hedge effectiveness is measured based on minimization of the value of AIC and SBIC. Our result indicate that copper futures market is inefficient. Hedge effectiveness comparison concludes that ECM model gives the best hedging performance. However, ECM-GARCH is accounted to be the best model for hedging strategy since it captures the time-varying conditional heteroscedasticity to ECM model. Powered by TCPDF (www.tcpdf.org)
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Transition economy and privatization in Mongolia: case study: analysis of voucher privatization in Mongolia
 Khurelbaatar, Baigali ; Mlčoch, Lubomír (advisor) ; Glazar, Ondřej (referee)
Title: Transition economy and Privatization in Mongolia Subtitle: Analysis of voucher privatization in Mongolia Author: Khurelbaatar Baigali Supervisor: Prof. Ing. Lubomír Mlčoch.CSc Abstract: The voucher privatization was one of the biggest economic action during transition economy. However, the main consequences of such action were unexpected, very rapid and it was a political action rather than economical. Also Mongolian citizens' disapproval of the voucher privatization is still great after 20 years. But in year 2011, Mongolian government approved using very similar method for the privatization on mining sector, named a "Tavan Tolgoi" privatization. This thesis focuses on a particular process of the Mongolian by comparing between Russian and Czech voucher privatization. Comparative study with both qualitative and quantitative research methods is carried based on the data of three countries; economic indices and questionnaire were collected by author. In this study, the whole process is described and the main part of the thesis focuses on analysis of the free voucher allocating method and its advantages as well as disadvantages. The aim of the thesis is to reveal the true impacts of the voucher privatization and ultimately try to answer whether it is social confusion or it is a non-recommended method.
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