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Influence of short sales and margin requirements on portfolio efficiency - a DEA-risk approach
Branda, Martin
We focus on efficiency of assets and portfolios available to investors on financial markets. We employ diversification consistent DEA-risk models with CVaR deviations as the inputs and expected rate of return as the output. Moreover, we allow short selling and take into account margin requirements. Our model is then employed in an empirical study where selected assets from US stock market are investigated. The sample approximation technique is used to deal with the multivariate skew-normal distribution of random returns.
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Fiscal rules in selected EU countries between 2004-2015: sensible method for consolidation of public finances or fad of politicians?
Veselý, Lukáš ; Strejček, Ivo (advisor) ; Chmelová, Pavla (referee)
The subject of fiscal rules is very topical issue. The rise of public debt in certain developed countries resulted in what is sometimes called "debt crisis". Debt of those countries which is higher than their annual gross domestic product is viewed as unpayable by some economists. The main objective of this thesis has been to prove or disprove hypothesis that the fiscal rules studied in this paper are an effective solution for public finance consolidation. This verification was based on the analysis of fiscal rules functioning in selected countries between 2004 and 2015. As per results of analysis the paper aims to give recommendations for the Czech financial constitution proposal. The actual results of inquiry proved the hypothesis. Well-chosen fiscal rules are the right way towards fiscal consolidation, provided they are observed. Fiscal rules making thus requires an emphasis to be placed on the well-formulated exit clauses altogether with prospective sanctions. The current Czech financial constitution proposal is built on the correctly picked fiscal rule type, although the reference value lacks economic sense and it would not lead, with a high degree of probability, towards fiscal consolidation.
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Multicultural nursing and spirituality of religion in nursing practice
Semerádová, Lucie ; Kutnohorská, Jana (advisor) ; Špirudová, Lenka (referee) ; Křivohlavý, Jaro (referee)
v AJ: The Bachelor's dissertation treats of individual specifications of cultural and religious groups. To description of customs of each immigraton's groups living in The Czech republic is dedicating theoretical part of this labour. I have described cultural and spiritual customs with focus on areas that could be crucial in nursing care. The habits of Vietnamese, Russians, Ukrainians but also Christians, Jews and Muslims are described. The first part of research section of Bachelor's dissertation is attending views of non-doctors staff in Pardubická krajská nemocnice, a.s. to foreigners and try to map this questions. Is finding willingness to fulfil particular requirements of foreigners and pursuit for additional education. The second part of research section of Bachelor's dissertation presents interview with Mongolian woman. It looks on access of non--doctors staff by foreigner's eyes. This research metod has been focused on detecting deficiencies of non-doctors staff and effort to identify trouble situations as well. The conclusion is dedicated to all-round summary and possible steps which resulting from quoted facts. Klíčová slova v ČJ: Multikultura, spiritualita, Vietnamci, Mongolové, judaismus, Islám Klíčová slova v AJ: Multiculture, spirituality, Vietnamese, Mongols, Judaism, Islam Místo...
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Bussiness Project – Family Education Center
Bahushevich, Alena ; Hartman, Ladislav (advisor) ; Mísař, Jan (referee)
The main purpose of the Master Thesis is creation of the business plan on the establishment of the new preschool education institution Family Education Center. The center will be specialized in operating a kindergarten as well as in organizing educational and personal development activities for children and adults. The theoretical part of the thesis gives some insights on the importance of the entrepreneur and enterprises in the society, provides description of the basic requirements for a business plan and characteristics of the preschool education system in the Czech Republic. Practical part provides an application of the theoretical findings on the creation of the actual business plan. This part verifies the viability and competitiveness of the business project on the basis of the market analysis, marketing and financial plan.
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INSTITUTIONAL CARE
PAPÁČKOVÁ, Lucie
The aim of this bachelor thesis is to acquaint the reader with institutional care in the Czech Republic, performed in facilities belonging to the Ministry of Health, the Ministry of Labor and Social Affairs, and the Ministry of Education, Youth and Sports. Institutional care is one of the most important measures in which the State may intervene in family relationships. Minors have the legal right to secure a proper education and overall development. If the parents or family are unable to fulfill this legal claim, then the State is obliged to provide the child with an alternative rearing environment, either by assigning the child to the care of individuals or a facility for children requiring immediate assistance, and in the event of a necessity, also the most important measure: imposing institutional care. Priority is always given to individual care before institutional care, either with another individual, guardian, or foster parent. The Act also defines exactly where it's possible to proceed to extreme measures and impose institutional care. Given the severity of this measure, this decision only appertains to courts. No other governmental or non-governmental institution has such authority. This paper is aimed at introducing institutional care and the protection of children in the Czech Republic, especially highlighting the fragmentation of institutional care. The fundamental part of this paper describes the process of imposing institutional care, and especially its implementation in individual institutional facilities, differentiated according to the children's age, their physical and mental abilities, and the reasons why institutional care was decided on. The priority should always be the child's interest and welfare. This work also highlights the shortcomings of institutional care, particularly the lack of cooperation between the socio-legal protection of children and institutional facilities, the limited cooperation between government departments, the lack of suitable family recovery, and the small number of social workers and judges in the field. Finally, I also mention the achievements that brought about the transformation of institutional care, particularly the conversion to small family type facilities, surrounded by a network of services for the families of allocated children, the children themselves, and also other families who find themselves in a difficult situation. Not all children can be placed in foster care, not all families can be recovered. Especially for some older children and those who have gone through a specific life experience (abuse, repeated return from foster families), an institutional facility is an environment where they feel more secure and where they can fulfill their need to belong in a group of peers. In my work, I also want to draw attention to the current system of child care for children and youth, which does not address the period following the departure of young people from institutional care, although the stage of becoming independent is the most important for their future life.
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MKP analýza únosnosti vícevrstvého železničního podloží
Jiroušek, Ondřej ; Kunecký, Jiří ; Jíra, J. ; Horníček, L.
Numerical investigation of bearing capacity of railway substructure using finite element method and laboratory experiments is presented. A set of parametric FE models is built and unified approach for assessment of bearing capacity of the construction presented. Results are presented in terms of design graphs, where for every type of substructure design resulting bearing capacity is evaluated. Presented methodology is easily extensible for reinforcing effects of layer inclusion, geogrid placement or use of cemented layers.
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Greek debt crisis
Krídlová, Adriána ; Žamberský, Pavel (advisor) ; Jedlinský, Jakub (referee)
Bachelor thesis deals with the evolution of the Greek debt crisis and is trying to best describe on the historical context, what led to it gradually. It deals with the history to the emergence of crisis and then focuses on crisis period between 2009 to 2015. The aim is to determine whether the latest rescue package was based on objective requirements of the Greek economy. The first chapter deals with the process of macroeconomic indicators and is also dedicated to the low competitiveness of Greece. The second chapter discusses the history of Greece until 2009, which can be regarded as the beginning of the debt crisis. The third chapter deals with the evolution of the crisis from 2009 to 2012. In the fourth chapter, I analyze the conformity of a Memorandum of Understanding with the real needs of the Greek economy to its recovery.
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Assessment of devices used by the Armed Forces of the Czech Republic in case of radiation emergency.
LOŠKOVÁ, Romana
This Thesis deals with the option of employing the Armed Forces of the Czech Republic (ACR) when a radiation emergency is imminent. Primarily, it focuses on evaluation of selected devices designed for radiation reconnaissance; summarising of radiation protection related legislation; and study of approved procedures. At its beginning, this Thesis tracks the origin of early detection systems at the territory of the then Czechoslovak Socialist Republic and their gradual evolution into the the existing form. From the radiation emergency point of view, this nationwide system represents a priceless help for monitoring of radioactive contamination dispersion and for warning. The following part sums up basic information on what is an ionizing radiation, how it comes into being and which basic quantities describe it. This part also contains basic type distinction, description of consequences for human organism and the most significant interactions of sources of ionizing radiation that could be misused with the most probability. This specific topic is introduced here because of the subsequent part of this Thesis being named Radiological Dispersion Device, or the dirty bomb. The significant part of this Thesis is the summary and classification of related legislation. The first documents referred to are two international standards. Publication 103 the 2007 Recommendations of the International Commission on Radiological Protection is dealing, inter alia, with dosing limits determining dose levels in planned exposure situations and reference levels used for emergency exposure situations and existing exposure situations. Publication 96 Protecting People against Radiation Exposure in the Event of a Radiological Attack is more substantial for this Thesis since it partly copes with the protection of front-line units including Integrated Rescue System (IRS) components and it specifies maximum exposure time for intervening personnel. Based on the IRS Catalogue of Typical Activities (STC 01/IZS), Materialised and Verified Use of a Radiological Weapon, the ACR would be one of the intervening components in such an attack. This Thesis analyses in detail individual ACR procedures starting with activities before employment, through threat prevention, event reaction to post-event activities like decontamination followed by monitoring of personnel contamination and their health condition. The practical part deals mainly with one of the Thesis´s goals which was evaluation of selected dosimetric devices used by the military for radiation reconnaissance. For this purpose, the quantitative research processing their main parameters was applied. The analysis within a selected sample was used for comparing and the sumary index IVi then showed the status of device applicability for contemporary use in radiation emergency. The pre-defined goals of this Thesis have been met implementing the above methods. The comparison of individual devices and their evaluation in respect to their applicability in joint radiation emergency operation with other IRS components has been carried out via discussion. It has been found out that some of the devices are obsolete and do not comply with the requirements for this job. This fact reflects the reality that these devices were designed in the period of a potential nuclear war. This corresponds with their robust structure and high level of sensitivity which is not desirable for a radiation emergency. The most severe problem, however, seems to be the fact that some devices measure quantities in old, no more used, units which could cause misinterpretation. On the other hand, other devices are modern, sensitive at low levels of dose input and offer real-time information on a well organised LCD display. To answer the question of ACR´s readiness to intervene in a radiation emergency one has to say that the ACR is ready to meet its rescue and consequence management tasks at a satisfactory level.
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Business Plan for Establishment of Trade
Borkovec, Ondřej ; Trachta, Václav (advisor) ; Dvořák, Jiří (referee)
The aim of the thesis is to create a business plan of Kavárna XY operated by independent entrepreneur. The work consists of two parts. The first part is the theoretical framework which focuses on the legal requirements of entrepreneurship and structure of a business plan.The tools like PEST analysis, Porter`s five forces analysis and SWOT analysis are explained. The second part is the application of findings from the theoretical part and focuses on creating the business plan of Kavárna XY. The practical part deals with the definition of competetive advantage, analyzes a company environment and competition, deals with the creation of sales and financial plan and evaluates project risks. An output of the practical part is to create a business plan and prove that the project is feasible and profitable.
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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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