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Doing business while studying
Kopecká, Adéla ; Kašparová, Eva (advisor) ; Novák, Pavel (referee)
This thesis is written about factors, which leads people doing business while studiing. It is more actual then ever and it is more and more popular between people. This thesis tries to find out which factors are important, that student starts his/her own business. This thesis is devided to two parts. the first one is teoretical and second one is practical. Teoretical part is about business and motivation. The aim of second part is to identifie and examine factors of motivation doing business, analysis of current situation in Czech republic and analysis of business support also in Czech republic and abroad.
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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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Optimalization of material flow in automotive industry
Kolář, Tomáš ; Jirsák, Petr (advisor) ; Vinš, Marek (referee)
This master thesis is focussed on optimalization of material flow in an automotive company. First part introduce theoretical background. Automotive industry and its actual trends on global markets. Follows short introduction of the company where project of this thesis was executed. Main theoretical part describes concept of lean management, its tools in practical examples, but it is also focussed on philosophical approach to the work and mindset of the company. Follows the aplication part based on theoretical background. The whole project of this master thesis is focussed on specific area called PC store. At first this area is showed in context of overall material flow. Shortly there are introduced processes and areas where full material packaging flows. Follows deeper analysis and optimalization of PC store itself. There are three approaches of stock and lead time reduction applied. Last part shows the comparison of initial and future state including performed changes.
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Výběr a implementace open source nástroje pro řízení portfolia projektů
Marek, Jan ; Chlapek, Dušan (advisor) ; Kučera, Jan (referee)
Methods and ways of implementation of changes and innovations in companies through project management are in today's society very well established. There exists methodologies, techniques and tools for the management of individual projects. However in a role of project manager, I very often faced the fact that companies are performing the project portfolio management in very intuitive way. This in itself leads to failed and prematurely terminated projects, initiation of the wrong projects or realisation of correct projects, but at the wrong time. Very often I have also recognized, that there is lack of awareness of fact, that there are also Open Source applications that can help with the organization's portfolio. This thesis deals with the definition of requirements, search and selection of proper OSS application and subsequent implementation. In the first part of this thesis I prepare a theoretical framework about PPM, and on that basis then identify and verify a set of requirements for selection of right OSS PPM application. The next section of thesis describes searching for suitable applications from a variety of sources, assessment against the requirements and the final selection. In the last part the implementation project is drafted, which aims to serve other colleagues in project management as one of the possible implementation paths. The outputs are then continuously confronted with experts in matter of projects and project management in the field of IT in order to maximize symbiosis between theory and real life experiences. Virtually every project management methodology defines the collection of already-proven techniques, best practices or lessons learned from the previous similar implementations. The main contribution of this thesis I see in fact that it contains not only the design of the project implementation, but also describes a logical path, what leads to the result. Therefore this thesis could be used as a base or discussed best practice, when a project of implementation of PPM application in place.
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Global Economy Outlook - December 2016
Česká národní banka
Global Economic Outlook presents the regular monthly overview of recent and expected developments in selected territories, focusing on key economic variables: inflation, GDP growth, leading indicators, interest rates, exchange rates and commodity prices. In this issue, we also focus on a major phenomenon of the day: the migration of people into Europe, and Germany in particular. In this context, we present an analysis of the effect of the increased number of refugees on the German labour market. We show, among other things, that the incoming migrants will be far from enough to cover the demand for labour in Germany and also that they will compete more with workers arriving in search of jobs in Germany from Central and Eastern European countries than with German citizens.
Fulltext:  PDF; PDF
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Freezing technology of bull sperm in relation to its survivability and fertilization ability
Doležalová, Martina ; Stádník, Luděk (advisor) ; Jiří, Jiří (referee)
The aim of optimalization the insemination doses production is to provide the highest fertilization ability of spermatozoa during the demanding proces of processing fresh semen and its subsequent cryopreservation. Temperature changes causes spermatozoa damage during the cooling and freezing. Spermatozoa is exposed to cold shock and many others limiting factors, which leads to cell death and therefore to decline of fertilization ability of thawed insemination doses. For increasing spermatozoa resistance, exactly the plasma membrane resistance against cold shock was fraction of egg yolk LDL cholesterol (low density lipoprotein) at various concentrations into the comercially produced diluents added. It is believed that LDL acts possitively to plasma membrane and helps to maintain the fertilization ability of spermatozoa after thawing. Following step in the proces of insemination doses production is slow cooling of diluted semen and equilibration, when the straws are store at cooling box for 30 minutes to 240 hours. This period is necessary to penetrate of certain diluent components into the spermatazoa also maintain the balance between their intracellular and extracellular concentration. Also important is subsequent freezing temperature gradient of insemination doses. The most suitable freezing method is based on computer controlled temperature decline in freezing chamber which allows the precise control of ice crystals formation that could tear and kill the cell.
During 2012 to 2016 was repeatedly collected semen from the group of breeding bulls (n = 27, Holstein and Czech Fleckvieh breed) at AI centre. Semen which fulfill the standard entrance conditions in first step was evenly into several parts divided. For dilution the three types of comercially diluents AndroMed, Bioxcell and Triladyl with and without LDL addition were used. Into the diluents AndroMed and Bioxcell the concentration of LDL 4 %, 6 % and 8% into the dilent Triladyl 6 %, 8 % and 10 % was added. Diluted semen was filled into the glass capillares with volume 0,1 ml and temperature +4 °C. Subsequently the sample was placed to cold bath (0°C) for 10 minutes. Then the volume of capillare with physiological solution (37 °C) was mixed and for next 120 minutes was incubate. The effect of cold shock to proportion of live spermatozoa was evaluated by using Eosin and Nigrosine staining technique during heat test of spermatozoa survivability after spermatozoa heating and after 120 minutes of incubation.
The more suitable semen diluents which provide the higher spermatozoa resistance against cold shock were AndroMed and Bioxcell. Together the possitive effect of LDL addition into the diluents to lower decrease of proportion of live spermatozoa during heat test was found (P<0.05). The most suitable LDL concentration which had a favorable influence at spermatozoa resistance against cold shock was 6 % in diluent Bioxcell. Values of the proportion of live sperm were higher at the beginning of the heat test (+1.31% to + 3.2%) and after 120 minute incubation (+5.82% to +8.41%) compared to other diluents with and without addition of LDL.
In the next step the process of equilibration was optimized, is an important part of insemination doses production. The effect of the length of equilibration for subsequent fertilization ability of spermatozoa was evaluated using spermatozoa motility based of CASA and proportion of live spermatozoa after thawing and during heat survival test lasting 120 minutes (37 ° C). Suitable semen was diluted by comercially used diluent AndroMed based on soya lecithin, filled into the straws (0.25 ml), cooled and equilibrated in cooling box for 30, 120 and 240 minutes and freezed in programmable freezing box applying four types of freezing curves differing in temperature rate decline. There was used standard and by producer recommended 3. phase freezing curve, then 2. phase freezing curve, and 3. phase freezing curve with slower as well as rapid decline of temperature rate in freezing chamber, compared with standard freezing curve. The highest spermatozoa motility was found using 240 minutes of equilibration by +2.72% and +4.58% compared to other lengths of equilibration (P <0.05 to 0.01). The highest proportion of live spermatozoa was found using 120 minutes of equilibration (+6.87 % and +8.68 %). The highest average spermatozoa motility during heat test after thawing was achieved by using 2. phase freezing curve (from +2.97% to +10.37%, P <0.05), also in the proportion of live spermatozoa (from + 4.37% to +8.82%, P <0.01). When evaluating interaction between the length of equilibration and freezing curve (standard 3. phase and 2 . phase freezing curve), the highest average spermatozoa motility and proportion of live spermatozoa using 240 minutes of equilibration by both freezing curves was reached, there was no statistically significant differences. As well as, in all evaluated parts of this study the individual differences between ejaculate of bulls and within semen from one bull (P <0.05) as secondary effect were found.
To maintain good fertilization ability of semen during cryopreservation is necessary to increase the spermatozoa resistance against cold shock using addition of correct concentration of LDL into the commercially used diluents AndroMed and Bioxcell. Subsequently the fertilization ability of insemination dose is influenced by cooling, the length of equilibration and freezing. The length of equilibration 120 minutes and more as well as gentle way of freezing according to freezing curve, which ensures a gradual decrease of temperature in freezing chamber provided the higher average spermatozoa motility and proportion of live spermatozoa.
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Influence of meadow management on the migration behavior of selected species of butterflies
Bubová, Terezie ; Langrová, Iva (advisor) ; Farkač, Jan (referee)
Migrations are the key process and one of the basic biological features, which allow survival of endangered species in fragmented landscape. In the last decades, agriculture intensification, industry and urbanization caused that number of natural butterfly habitats has significantly decreased. The localities originally suitable for butterflies are currnetly converted to farmland or building plots. This PhD thesis aimed to find a compromise solution of meadow management, which should allow a commercial use and concurrently do not jeopardize the continued existence of endangered or threatened species. The main idea of this study was in the intentional emigration causing in the middle of flight period, which should lead into resettlement of the population to another (potentially more suitable) locality. Possibility of aimed manipulation with butterfly emigrations would be considered as a major breakthrough in their protection.
The investigated species Phengaris nausithous (Bergsträsser, 1779) and Phengaris teleius (Bergsträsser, 1779) are both considered to be flagship species for protection of European butterflies at open meadows. This study is based on research, which was carried out in 2013-2015 at 17 patch in localities Dolní Labe, Czech Republic. In above mentioned years, one selected meadow was mowed in the middle of flight season and the emigrations were then monitored using mark-release-recapture method. Results of population and migration characteristics were calculated in MARK 8.1 software. Subsequently, the effect of mowing on emigration (comparison of emigrations from the meadow before and after mowing) was evaluated using Statistica 13.
The hypotheses of this study were based on the assumption, that the loss of resources after well-timed mowing should increase the activity of adult butterflies. During the monitoring, number of emigrations was increased only in flight season 2015. Unfortunately, the statistical evaluation did not show significant effect of mowing on migrations. On the other hand, the hypothesis dealing with colonization of nearest meadows was confirmed.
Effect of intentional emigration caused by management interventions was unfortunately not proved. However, we found out, that even though the population at one mowed meadow decreased clearly, the metapopulation size at the locality remained more or less stable.
At investigated (mowed) meadow, there was observed a sharp decline of P. nausithous abundance. On the other hand, P. teleius population was only slightly reduced. It is therefore conceivable, that P. teleius are not as susceptible to innapropriate term of mowing. The results obtained in our research conclusively displayed no possible positive effect of mowing in the middle of flight season and a necessity of suitable management maintenance at localities inhabited by Phengaris butterflies.
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Antioxidant, anti-proliferative and immunomodulatory effect of fruits, vegetables and mushrooms in vitro
Doskočil, Ivo ; Havlík, Jaroslav (advisor) ; Orsák, Matyáš (referee)
Recently there has been an increasing interest in discovering of new species of plants and mushrooms which have antioxidant or anti proliferative activity. The interest is caused by the fact that these species have medicinal and food utilization. These properties of plants and mushrooms can be used when dealing with many diseases which may be connected with oxidative stress (inflammatory bowel disease, cardiovascular disease, hypertension, and tumour disease, etc.).
The thesis propounds characteristics of in vitro antioxidant and anti proliferative activity of 19 types of juices and 28 methanol extracts of fruits and vegetables, which are common parts of a diet. In the thesis there are also characteristics of 13 ethanol extracts of edible mushrooms of the order of Polypore (Popyporales). Antioxidant activity was quantifie by 2, 2 diphenyl 1 picrylhydrazyl (DPPH), oxygen radical absorbance capacity (ORAC), and inhibition of nitric oxide (NO) production. Cytotoxicity was measured by MTT (3 (4,5 dimethylthiazol 2 yl) 2,5 diphenyltetrazolium bromide. Immunomodulatory activity was determined by an assay of phagocytic activity of human neutrophil granulocytes. Further a total phenolic content (TPC) and total beta glucan content were investigated; these are considered to be the potentially active constituents participating in mentioned activities.
From the obtained results it is evident that juices (TPC = 1603.2 mg GAE/L; ORAC = 438.5 umol TE/g)
and a bilberry (Vaccinium myrtillus) fruit extract (ORAC 836.6 umol TE/g; DPPH = 404.6 umol TE/g) showed
the highest antioxidant activity of all tested samples of fruits and vegetables. Capsicum (Capsicum L.)
juices (TPC = 642.1 mg GAE/L; ORAC = 127.9 umol TE/g) and a radish (Raphanus sativus L.) extract
(ORAC 724.5 umol TE/g; DPPH = 52.2 umol TE/g) also proved to have the high values of antioxidant activity. From the tested fruits and vegetables the following inhibited to produce a nitric oxide: onion (Allium cepa L) juices (lowered the NO production by 57%), tangerine juices (Citrus reticulata Blanco)(by 52%), broccoli (Brassica oleracea var. botrytis italic) extract (by 21%), and orange (Citrus sinensis Pers.) extract (by 10%). Concerning edible
mushrooms, Lentinus tigrinus (Bull.) Fr. (TPC = 216.2 umol GAE/g of extract), Ganoderma lucidum (Curtis) P. Kras (TPC = 257.9 umol GAE/g of extract), and Royoporus badius (Pers.) A.B. De (TPC = 257.8 umol GAE/g of extract) presented the highest phenolic content. Sparassis crispa (Wulfen) Fr. (117.4 mg/g of extract) had the highest content of beta glucan. Substantial effect on phagocytic activity of granulocytes was noticed in connection with Neolentinus lepideus (Fr.) Redhead & Ginns, Polyporus squamosus (Huds.) Fr., and S. crispa. In connection with the latter of mentioned mushrooms, a moderate inhibitory effect towards HT 29 human colorectal adenocarcinoma cell line
(IC50 = 107 ug/ml of extract) was noticed.
The results indicate that the tested plants and mushrooms can be beneficial when reducing the negative effects of oxidative stress. The oxidative stress has been recognized as a contributing factor to a whole range of diseases and the reduction of the oxidative stress may lead to the decrease in the possibility of the diseases´ progression. The results show the possible favourable effects on the human health. When evaluating the results, the following fact should be taken into consideration; the in vitro tests and screenings are considered to be the first phase of systematic research of the effects and serve for the choice of respondents for further detailed studies.
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Extensions to Probabilistic Linear Discriminant Analysis for Speaker Recognition
Plchot, Oldřich ; Fousek, Petr (referee) ; McCree,, Alan (referee) ; Burget, Lukáš (advisor)
Tato práce se zabývá pravděpodobnostními modely pro automatické rozpoznávání řečníka. Podrobně analyzuje zejména pravděpodobnostní lineární diskriminační analýzu (PLDA), která modeluje nízkodimenzionální reprezentace promluv ve formě \acronym{i--vektorů}. Práce navrhuje dvě rozšíření v současnosti požívaného PLDA modelu. Nově navržený PLDA model s plným posteriorním rozložením modeluje neurčitost při generování i--vektorů. Práce také navrhuje nový diskriminativní přístup k trénování systému pro verifikaci řečníka, který je založený na PLDA. Pokud srovnáváme původní PLDA s modelem rozšířeným o modelování neurčitosti i--vektorů, výsledky dosažené s rozšířeným modelem dosahují až 20% relativního zlepšení při testech s krátkými nahrávkami. Pro delší testovací segmenty (více než jedna minuta) je zisk v přesnosti menší, nicméně přesnost nového modelu není nikdy menší než přesnost výchozího systému. Trénovací data jsou ale obvykle dostupná ve formě dostatečně dlouhých segmentů, proto v těchto případech použití nového modelu neposkytuje žádné výhody při trénování. Při trénování může být použit původní PLDA model a jeho rozšířená verze může být využita pro získání skóre v případě, kdy se bude provádět testování na krátkých segmentech řeči. Diskriminativní model je založen na klasifikaci dvojic i--vektorů do dvou tříd představujících oprávněný a neoprávněný soud (target a non-target trial). Funkcionální forma pro získání skóre pro každý pár je odvozena z PLDA a trénování je založeno na logistické regresi, která minimalizuje vzájemnou entropii mezi správným označením všech soudů a pravděpodobnostním označením soudů, které navrhuje systém. Výsledky dosažené s diskriminativně trénovaným klasifikátorem jsou podobné výsledkům generativního PLDA, ale diskriminativní systém prokazuje schopnost produkovat lépe kalibrované skóre. Tato schopnost vede k lepší skutečné přesnosti na neviděné evaluační sadě, což je důležitá vlastnost pro reálné použití.
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