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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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Comparison of hedging instruments in international trade
Štrossová, Šárka ; Němečková, Iveta (advisor) ; Hinčica, Vít (referee)
The thesis is divided into two parts -- theoretical and practical. In first part hedging instruments, namely the Letter of Credit, Documentary Collection, Bill of Exchange, Factoring, Forfaiting and Bank Guarantee are analyzed. The aim of analysis is to describe the basic characteristics of instruments and course of these instruments. Subsequently, the instruments are compared to each other on the basis of the advantages and disadvatages they bring to participants. The next part is devoted to an analysis of charges associated with the use of particular hedging instruments in selected banks and the comparison of instruments based on selected criteria. The specific use of the hedging instrument is shown in the case study.
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The concept and types of bills of exchange and promissory notes
Blaha, Michal ; Zahradníčková, Marie (advisor) ; Čech, Petr (referee)
- 1 - Abstract The topic of my diploma thesis is "The concept and types of bills of exchange and promissory notes". The reason why I chose this topic is my interest in securities law, especially in bill of exchange law, and my previous work experience. I regularly work with bill of exchange law in my employment so this is a reason why I have decided to expand my knowledge of this particular law. The bill of exchange and check act number 191/1950 Coll., as amended, is the basis of legislation for this kind of law in the Czech Republic. The most significant advantage of this act is the constancy, which is given by the general method of treatment of this issue. This advantage can be considered as one of the main disadvantages too, because the solution of unique issues is left to case law and literature. This is a reason, why the core of this diploma thesis is chapter 5, where I analyse the essential requirements of bill of exchange and promissory note. Also the issue of graphical design is a very interesting and actual topic. The diploma thesis is structure into seven chapters. The first chapter is devoted to the historical development of bill of exchange and promissory note. This chapter contains also the historical development of individual institutes of bill of exchange law. The second chapter discusses the...
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Exchange rate policy of People's Bank of China under pressure of yuan internationalization
Randl, Tomáš ; Hnát, Pavel (advisor) ; Jedlinský, Jakub (referee)
Chinese economy has reached its export limits and is located in an era of transformation process into new economic model based on domestic consumption and sector of services. Under pressure from foreign entities which require internationalization of yuan as an implementation of free floating exhange rate regime, China must deal with number of problems arising from the process of economic transformation. This thesis examines possible solutions to current problems from the perspective of exchange rate policy of the People's Bank of China.
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XIVth Youth symposium on Experimental Solid Mechanics
Major, Z. ; Kytýř, Daniel
The Youth Symposium on Experimental Solid Mechanics traditionally brings together young researchers and engineers, students and PhD students, who are actively involved in the experimental solids mechanics, theoretically and practically, in order to exchange their experience, to report on the present state-of-art as well as on running research projects, to discuss due questions and problems and to promote the cooperation among individuals as well as among institutions. The XIVth symposium continues both, the long tradition of this conference series and introduces novel elements. The combination of the experimental mechanics with modern numerical methods was focused. This year, participants from 12 countries attended the symposium. Based on their presentations, 19 papers were selected for the publication in this issue of Acta Polytechnica CTU Proceedings.
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Exchange Differences in Accountancy in an Enterprise
ŠPILAUEROVÁ, Hana
In connection with economy globalisation, international cooperation of companies and expansion of international trade, the issue of exchange rates, transfer of currencies and exchange differences concerns companies more and more. The aim of this thesis was to show in theory as well as in practice how a company transfers assets and liabilities expressed in a foreign currency into Czech crowns by means of exchange rates. In the theoretical part, methods are described how to realise this transfer and abide by legal regulations concerning this issue. Next, accounting operations are given where it comes to creation of exchange differences. Data for the practical part were provided by the enterprise ESSA Ltd. On these data, the influence of exchange differences on the company's economic results in the years 2009-2015 is shown. The method of accounting exchange differences is presented on individual cases of accounts receivable and accounts payable. For orientation in the issue, model examples of other accounting cases are given where exchange differences may arise.
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Fundamental analysis of stock Komercni banka, a.s.
Marek, Vojtěch ; Musílek, Petr (advisor) ; Tuček, Miroslav (referee)
This final thesis in the first chapter summarizes theoretical knowledge in connection with Fundamental analysis. Furthermore, it deals with proper valuation of bank stock title. Each phase of Fundamental analysis is than analyzed on practical example of stock Komercni banka listed on Prague stock exchange. Focus is on complex analysis of global and sector factors. There are mentioned comparisons of key indicators with other comparable bank in the economy also the value of the brand Komercni banka is calculated. In the last chapter are concrete data used for calculation of so called right price of the stock and results are compared to actual price at the stock market.
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Assessment forms of collateral payments and exchange rate risks for companies in selected sectors
Hrazdíra, Adam ; Pavlík, Zdeněk (advisor) ; Baluchová, Daniela (referee)
This bachelor thesis deals with the problem of securing payments and exchange risks in international trade. Financial derivatives, documentary letters of credit and documentary collection were selected as the main financial instruments for hedging. The aim of this work is to choose the most appropriate combination of these instruments for companies in a particular sector and economic areas. The second part of this thesis focuses on the Czech engineering company that uses all these financial instruments listed above for hedging. The company's strategy for exchange and payment security will be presented, based on the data of analysis. Following this strategy recommendation arises for other companies in this sector.
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Budget of the European Union in the field of justice and home affairs
Ticháček, Jan ; Hřebík, František (advisor) ; Markéta, Markéta (referee)
The Master Degree Thesis focuses on analysis of the EU budget. The main area of interest is justice and home affairs. Planning of the EU annual budget is preceded by creation of the Multiannual Financial Framework which is a planning tool and also a safeguard of predictability of the EU expenditures. Also EU priorities are mirrored there. Annual budget itself is divided into six headings. The thesis is dedicated mainly to the third area Security and Citizenship. Also an EU agency CEPOL (European Police College) is financed from this area. The second part of the thesis is dedicated to CEPOL. The EU agency CEPOL occupies important position in the field of education and training of senior police officers and also law enforcement officers. It provides educational and training activities which suppose to contribute to improving of EU Member States´ cooperation in fighting against the most serious forms of international crime. The flagship of CEPOL is European Police Exchange Programme. Thanks to the exchange programme, the participants gain experience based on their needs and preferences. CEPOL supports qualitative rather than quantitative education. The third part of the theses tries to find out whether the financial resources spend on the Exchange Programme are used effectively. This issue is examined by using a questionnaire and subsequently its evaluation.
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