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Legislative business regulations for foreigners in the Czech Republic
ŠTĚCH, Jan
Description and analysis of legislative regulations with dealing business and employment of foreigners in the Czech Republic. It deals with the general conditions for entrepreneurship and employment of foreigners according to the Trade Law, Labour Law, the Commercial Code and the Employment Act. It also deals with the statistical development of the number and structure of foreign nationals in the country. Describes and gives an example of administrative claims to start a business for foreigners in the Czech Republic.
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Is import of goods from european countries to Czech republic more or less influenced by changes in nominal and real exchange rates than in non european countries?
Vereš, Jan ; Stroukal, Dominik (advisor) ; Slaný, Martin (referee)
This bachelor thesis analyses the connection between import of goods from foreign countries to Czech Republic and the exchange rate changes. The initial hypothesis of this paper is to prove that the depreciation of domestic currency has positive influence on balance of trade balance. For this purpose there is eight econometric models which were created by using time series from years 2003 to 2016. These models are divided in pairs among four chosen countries. For each country two models were created that follow the development of trade balance between Czech Republic and one of the countries in two different time frames. All the models always use the real effective exchange rate, growth rate of GDP for Czech Republic and growth rate of GDP for one of the countries as explanatory variable. It is connected with the second task of this thesis, which is the analysis of the differences in the behaviour of the models that belong to the countries which are members of the EU and these that are not. The aim is to find out whether the existence of tariffs on imported goods from countries out of the EU causes visible differences in the behaviour of the variables that were included in the models. Based on the outcomes of all eight models the main hypothesis has been proved right for three out of four countries. In the models for Germany, China and France the relation of real exchange rate and trade balance came out as positive in long term, in short term the outcome was ambiguous. The second question of this thesis has been answered, but its added value is questionable. The final models for each state do show some noticeable differences and they can be used to determine if the influence of the change of exchange rates on trade balance is smaller or bigger in the countries where tariffs are used. On the other hand, from the results we can learn that the sample of only four countries is insufficient for the deduction of any conclusions.
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Use of Interest Rate Models for Interest Rate Risk Management in the Czech Financial Market Environment
Cíchová Králová, Dana ; Arlt, Josef (advisor) ; Cipra, Tomáš (referee) ; Witzany, Jiří (referee)
The main goal of this thesis is to suggest an appropriate approach to interest rate risk modeling in the Czech financial market environment in various situations. Three distinct periods are analyzed. These periods, which are the period before the global financial crisis, period during the financial crisis and in the aftermath of the global financial crisis and calming subsequent debt crisis in the eurozone, are characterized by different evaluation of liquidity and credit risk, different relationship between financial variables and market participants and different degree of market regulations. Within this goal, an application of the BGM model in the Czech financial market environment is crucial. Use of the BGM model for the purpose of predicting a dynamics of a yield curve is not very common. This is firstly due to the fact that primary use of this model is a valuation of interest rate derivatives while ensuring the absence of arbitrage and secondly its application is relatively difficult. Nevertheless, I apply the BGM model to obtain predictions of the probability distributions of interest rates in the Czech and eurozone market environment, because its complexity, direct modeling of a yield curve based on market rates and especially a possibility of parameter estimation based on current swaptions volatilities quotations may lead to a significant improvement of predictions. This improvement was also confirmed in this thesis. Use of swaptions volatilities market quotations is especially useful in the period of unprecedented mone- tary easing and increased number of central banks and other regulators interventions into financial markets that occur after the financial crisis, because it reflects current market expectations which also include future interventions. As a consequence of underdevelopment of the Czech financial market there are no market quotations of Czech koruna denominated swaptions volatilities. I suggest their approximations based on quotations of euro denominated swaptions volatilities and also using volatilities of koruna and euro forward rates. Use of this approach ensures that predictions of the Czech yield curve dynamics contain current market expectations. To my knowledge, any other author has not presented similar application of the BGM model in the Czech financial market environment. In this thesis I further predict a Czech and Euro area money market yield curve dynamics using the CIR and the GP models as representatives of various types of interest rates models to compare these predictions with BGM predictions. I suggest a comprehensive system of three criteria, based on comparison of predicti- ons with reality, to describe a predictive power of selected models and an appropria- teness of their use in the Czech market environment during different situations in the market. This analysis shows that predictions of the Czech money market yield curve dynamics based on the BGM model demonstrate high predictive power and the best 8 quality in comparison with other models. GP model also produces relatively good qua- lity predictions. Conversely, predictions based on the CIR model as a representative of short rate model family completely failed when describing reality. In a situation when the economy allows negative rates and there is simultaneously a significant likelihood of their implementation, I recommend to obtain predictions of Czech money market yield curve dynamics using GP model which allows existence of negative interest rates. This analysis also contains a statistical test for validating the predictive power of each model and information on other tests. Berkowitz test rejects a hypothesis of accurate predictions for each model. However, this fact is common in real data testing even when using relatively good model. This fact is especially caused by difficult fulfilment of test conditions in real world. To my knowledge, such an analysis of the predictive power of selected interest rate models moreover in the Czech financial market environment has not been published yet. The last goal of this thesis is to suggest an appropriate approach to obtaining pre- dictions of Czech government bonds risk premium dynamics. I define this risk premium as a difference between government bond yields and fixed rate of CZK IRS with the same length. I apply the GP model to describe the dynamics of this indicator of the Czech Republic credit risk. In order to obtain a time series of the risk premium which are necessary for estimation of GP model parameters I firstly estimate yield curves of Czech government bonds using Svensson model for each trading day since 2005. Resulting si- mulations of risk premium show that the GP model predicts the real development of risk premiums of all maturities relatively well. Hence, the proposed approach is suitable for modeling of Czech Republic credit risk based on the use of information extracted from financial markets. I have not registered proposed approach to risk premium modeling moreover in the Czech financial market environment in other publications.
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Pension reform in the Czech Republic
Štekerová, Nikol ; Pletichová, Dobroslava (advisor) ; Jaroslav, Jaroslav (referee)
Czech Republic faces up to and will even face up to an unfavourable demographic progress from now on. A current situation would become completely intolerable without any transformations. Author reviews every single pillar including a closed down second pillar. In the analytical part there is a suggestion to improve a pension scheme right in several parts. Those most outstanding parts are the motives for a political and economic situation improvement because any reforms success exactly depends on economy performance, a political situation, a demographic risk elimination including elements of birth support and migration and general pension restructure. Several appropriate pension restructure conceptions are suggested. For instance: taking a corporate pension under Swedish pattern which would exclude a question of pre-pension as well. Additionally, a private pension scheme should offer the citizens of the Czech Republic more choices so that everyone could choose the provision for retirement age possibility that is the most appropriate and convenient for them.
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Protection of personality in the legal system of the Czech republic
Houdek, Miroslav ; Uhlík, Milan (advisor) ; Pavla, Pavla (referee)
The thesis deals with the protection of personality in the legal system of the Czech Republic. Its aim is to specify the possible ways protection of personality in the legal system of the Czech Republic with using of appropriate methods; and also to determine the number of reported and the Czech Police investigated cases including their treatment and in case of deficiencies in the legislation, organization and management are found, to propose measures to eliminate them. The theoretical part contains international and national legislation regulating protection of personality in the legal system of the Czech Republic. In the practical part there is an evaluation of legislation at first, followed by proposed measures to eliminate deficiencies in the field protection of personality. This is followed by analysis of wiretapping and recording of telecommunication operations and analysis of statistical data of selected cases undertaken by the CZ Police. At the end of the empirical part there is performed a quantitative research by using a questionnaire that is intended to members of police and citizens. The resulting values are analyzed, evaluated and translated into charts and graphs. In conclusion there is a proposed change in the law in the sense of de lege ferenda.
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Using of the Czech Warmblood for the Czech Republic Mounted Police
Vlčková, Petra ; Navrátil, Jan (advisor) ; Karel, Karel (referee)
The horse evolution started with Hyracotherium, which was a small animal inhabiting forests of the Eocene. Since then, it evolved into more or less successful forms in which the conditions of the surroundings of its occurrence were reflected. When it comes to the initial usage of horses, they were used as a source of meat. Later, in the period before 4,600 years ago, evidence of the domestication of these animals emerged. Due to the improved system of breeding, horse as a draught animal and a mean of transport gradually became riding horse, which contributed not only in spreading human population, but also in influencing history of many civilizations.
Nowadays, horse is represented through a number of breeds, which are used in equestrian sport, work with cattle, horse races, in forestry labours, or as a good companion.
In addition, horse gained its irreplaceable role in the service of the Mounted Police of Czech Republic where it is daily deployed in diverse actions; for example in city and peripheral guarding, in searching for missing persons or in restoration of disturbed public peace. The most useful breed for these purposes is Czech Warmblood, where the most preferred geldings are in brown or chestnut color. High demands are placed on physiological characteristics; however, the most important criterion is the excellent character of this breed. Quality of these characteristics consists in the length of duty and in the reasons for their release from duty. Some of the most frequent reasons for the release from duty health problems and age. The release due to age is associated with strong and resistant horses.
Regarding the lineage of the police horses on duty, the best evaluated were the descendants of stallions 1154 Quick Lauro Z, Mykonos and 1028 Manillon Rouge. However, there is a correlation between these descendants and their number on active duty. After categorization of all traced stallions into relevant lineages, the lineage 1100 Przedswit became the most numerous lineages (7 stallions). Nevertheless, this lineage is not positively evaluated because of its descendants, which did not perform well on duty. Another numerous lineages were 5500 Pythagoras, 4700 Amour du Bois, Orange Peel xx-Almé Z, 67 Dark Ronald or 4800 Ladykiller XX.
The central purchase system of duty horses should help to unify these horses as well as to prolong the length of duty, via universally established criteria. Results demonstrate the unification of typological characteristics of these horses. However, the average withers height of measured horses fails to meet the requirements. Regarding the length of duty, the results were not conclusive; therefore, the hypothesis was confirmed just partially.
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Procedural aspects of civil procedure
Ledašilová, Kateřina ; Civínová, Denisa (advisor) ; Klára, Klára (referee)
The main theme of this thesis is the issue of the procedural acts of judicial proceedings (focused mainly on aspects of delays), in the code of civil procedure as part of the legal order of the Czech Republic.
The theoretical part defines the procedural aspects of civil procedure. The main focus is on the delay of court proceedings on the part of the participant and subsequently the defence against delays in the proceedings caused by the court. The thesis contains the statutory documents of the legal order of the Czech Republic. The essential part of the theoretical thesis is the rights for the protection of citizens' rights, which are embedded in the Charter of Fundamental Rights and Freedoms and in the European Convention for the Protection of Human Rights and Freedoms. In this section main sources of information were the Code of Civil Procedure, the Civil Code, the Charter of Fundamental Rights and Freedoms and other laws that are closely related.
The practical part of this thesis is focused on the issue of the frequency of court proceedings in the divorce rate and, consequently, on the amount of agenda of the court, statistically maintained by the executor of the judicial process, in this case by the District Court of Kolín (i.e.court of first instance). Statistics of divorces involve the years 2012, 2013, 2014 and 2015. There are even specific cases from judicial practice.
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Church restitution and analysis within
Dvořáčková, Petra ; Hájková, Ivana (advisor) ; Pikola, Pavel (referee)
The year 1989 is an important milestone in the modern history of Czechoslovakia and later the Czech Republic. This year started a search for answers to many important questions, injustices and related remedies. It includes not only moral issues but also property relations among our state and individuals or legal entities.
My bachelor work on the theme The Church restitution and its analysis focuses especially on property injustices, although the moral side of these matters reflects in them deeply. The view on possible damages or justifications with churches in our country is described here. The history and development of this problem is given from the beginning to its approval and coming into force of the law no. 428/2012 Collection, on property settlement with churches and religious societies dated December 5, 2012 effective from January 1, 2013.
The main purpose of this work is to analyze the financial expenses according to the old legislation (Act no. 218/1949 Coll.) compared to financial expenses expected after the adoption of the law on church property settlement and religious societies from the state budget based on the trends of this issue. The assessment of the benefits of new legislation against the previous law is the crucial output of this work. The practical part is also marginally focused on one of the organizational units of the Czech Republic Office of the Government Representation in Property Affairs.
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Institution President of the Republic in the legal order of the Czech republic from the point of view its election
Huptychová, Natálie ; Civínová, Denisa (advisor) ; Cvik, Eva Daniela (referee)
This bachelor thesis is focused on a president, especially from the point of view its election. The first part focuses on the institute of president in the Czech Constitution,
and the election of the president. The practical part focuses specifically on the first direct election of the president to the Czech Republic, which took place in 2013. Gives information about the presidential candidates, who were candidates in 2013, their nomination during the campaign, campaign financing, and control the financing of these campaigns. Based on the information then evaluates the candidates' campaigns,
and compares the detected information with the theoretical bases of the theoretical part, and examines if the course of direct presidential election in 2013 was conducted
in accordance with the applicable laws of the Czech Republic.
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