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Business evaluation of Pivovar ZUBR a.s.
Vasilišin, Ľubomír ; Brabenec, Tomáš (advisor) ; Pucci, Slavomír (referee)
The aim of this Master's thesis is to evaluate the market value of the Zubr Brewery a.s., to the 1.1.2014. The main method selected for estimating the value of the company is discounted cash-flows for creditors and owners, also known as DCF entity. The early chapters are dedicated to making financial and strategic analysis of the company and of its competitors. After confirmation of going concern, the generators are defined and financial plan is executed, which serves as the key of the valuation using the income methods. The final value of the company is complemented by the valuation using book value method and multiples. In the end, the chapter deals with deferred tax liability and its possible use in the planning of forecast of the company.
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Economic and social impacts of cultural tourism in the Czech Republic
Raabová, Tereza ; Indrová, Jarmila (advisor) ; Lehmannová, Zuzana (referee) ; Konečná, Marie (referee) ; Rojíček, Marek (referee)
The work observes the positive relationship between culture and tourism and quantifies the economic and social (or socio-economic) impacts of cultural tourism in the Czech Republic. The first part showcases successful cultural projects in the Czech Republic and abroad, which attract tourists and provide destinations with financial resources and create new jobs. The author characterizes these positive economic and social impacts and benefits on the development of the region and analyzes existing studies of socio-economic impacts, normally processed abroad for cultural organizations and attractions. While in the Czech Republic, these studies are not yet very widespread, they represent a a useful document for the organization itself, but also for providers of grants and financial contributions, or for agencies and authorities designing concepts of culture and tourism. The work presents the basic methodologies used by the economic impact studies and further elaborates the most accurate and also the most demanding method of calculating the impacts, input-output analysis. Using this method, the author proposes a comprehensive model for calculating the economic and socio-economic impacts and benefits. The model uses statistical data of Czech national accounts and is intended for Czech cultural organizations attracting visitors. After using financial data of the surveyed organization and the expenditure of visitors, the model can easily determine the impacts of the organization to increase production, gross value added, employment and income of workers in the Czech Republic. The work builds on a lot of foreign findings, which seeks to apply in domestic conditions while using local data.
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The effect of information and communication technology on competitiveness of the Czech economy
Novák, Josef ; Novotný, Ota (advisor) ; Voříšek, Jiří (referee)
The advance of information and communication technology speeds up year by year. At the same time, methodologies for objective measurement of the benefits of ICTs are still lacking behind. This difference then forms a void of unsatisfied information requirements about the state of ICTs from a business as well as national economy's point of view. This thesis summarizes theoretical background about possible ways of viewing and measuring ICT benefits (be that benefits for a person, society as a whole or economy as a whole). The practical part of the thesis analyzes data describing the state of ICT sector in the Czech economy. The first part looks at ways of measuring ICT benefits as they are seen by a number of other authors and described in many studies. This provides a summary of the possibilities to consider when looking at our topic. The second part uses conclusions from previous works on similar topics to set some recommendations for policy improvement as well as social development that will enable maximizing the achieved utility of ICTs. Third part evaluates the position of ICT sector in the Czech Republic by analyzing basic statistical data about the economic and employment impact of all ICT firms as a whole. This is compared to other sectors of the Czech economy. Last part provides a detailed description of the process to calculate output and employment multipliers for all the sectors of Czech economy and then calculates these values according to the process. In the end, there is a summary of the theoretical and practical findings described in all preceding chapters.
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Possible Consequences of the Fiscal Expansion Which Is Responding to the Financial Crisis in the USA
Dřímal, Marek ; Antoš, Ondřej (advisor) ; Urban, Luděk (referee)
This bachelor thesis engages in the world financial crisis followed by the economic recession and in options how to deal with this issues with the fiscal policy. It focuses on fiscal policy's theoretic principles and instruments; then it processes working papers about fiscal policy multipliers, which are crucial for appreciation of the effectivity of the fiscal policy shocks. In the final part of the thesis there can be found selected acts enacted by the American administration for the purpose of struggling the recession like the American Recovery and Reinvestment Act. The thesis tries to evaluate possible effectivity of these acts.
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