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The analysis of the system of tertiary education in the Czech republic focused on prepared university reform from 2006 to 2015
Poupová, Jana ; Procházka, Pavel (advisor) ; Lukášová, Tereza (referee)
This bachelor thesis analyses the system of tertiary education in the Czech Republic, especially the way of funding of this system and the reform of the system of funding, implementation of tuition-fees on public universities. This topic had been actual until year 2015 and it is highly probable that it becomes more actual in following years again. In the teoretical part of the thesis, there are described in details the system of tertiary education in the Czech republic, the process and main points off the reform of tertiary education and there is also briefly described the system of tertiary education in Great Britain. The practical part of the thesis verifies by questionnaire survey the possibility of implementation of tuition-fees on universities and examines the impatcs of this implementation. In case of implementation of tuition-fees, as it was planned according to the reform of tertiary education, the number of university students would decrease by 47,3 %. In conclusion, some possible reccomendations are designed, which are suitable in case of implementation of tuition-fees.
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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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Makroekonomický dopad mateřské (a rodičovské) dovolené ve srovnání České Republiky s Brazílií
Kalkusová, Marie ; De Castro, Tereza (advisor) ; Neumann, Pavel (referee)
This thesis aims to estimate the macroeconomic impact of maternity and parental/paternal leave in the Czech Republic and Brazil. In addition, the thesis stresses out the costs of Czech model application to Brazil and vice-versa. The first chapter brings a theoretical framework. It compares the analyzed policies in both countries and introduces the relevant terms. The second chapter estimates the costs of maternity and parental/paternal leave related to public expenditure and GDP for the years 2005-2014 and brings own simulation model for Czech model application to Brazil and vice-versa. The third chapter analyses the inefficiencies and suggest possible mitigation. The results show the costs of 0.71% of GDP and 1.66% of public expenditure in the Czech Republic and 0.50% GDP and 2.27% of public expenditure in Brazil in 2014. The Czech model applied in Brazil would be very costly and the opposite scenario would lead to the decrease of macroeconomic burden in the Czech Republic. The thesis also analyzes the influence of maternal and parental leave in other areas, such as labor market, where the current structure may penalize Czech women in long term. By this analysis, the thesis contributes to the current debate about the impact, the length and costs of maternity and parental leave.
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Innovation activities in Germany in the context of smart specialisation
Vlčková, Markéta ; Vlčková, Jana (advisor) ; Vošta, Milan (referee)
Economic growth is slowing in many countries. It leads to a discussion on what sources of growth should countries focus. For this purpose, EU created the concept of smart specialization, which puts an emphasis on the most efficient use of public financial resources dedicated to research and development. The aim of this thesis is to find out on what industry Germany as a leader of EU innovation and its individual regions specializes and to identify potential areas for targeting resources to innovation, research and development. This will be determined by using the patent network. The secondary objective is to interconnect findings of patenting and analysis of innovation activities in various regions of Germany with international trade and to determine whether there is a correlation between innovation activity in a particular sector and export of the sector's products 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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Valuation of the company Tank ONO, s.r.o.
Novák, Petr ; Strouhal, Jiří (advisor) ; Smrčka, Luboš (referee)
The output of this Master´s Thesis on the theme "Valuation of the company Tank ONO, s.r.o." is the estimation of market value of company as at the date of December 31, 2014, with the goal of selling off the company to a hypothetical general investor in the future. The theoretical part includes metodology and instruments used for company valuation, eg definition of main terms, explanation of valuation proces and methods, that are recognised as valid by specialised public. Afterwards, the second part (eg practical part) is aimed at applying the metodology in practice. First, the valuated company is shortly introduced and it is followed by financial and strategic analysis in order to evaluate the financial soundness and assess the perspective for company future. The conclusions of the above analysis are used for elaborating the value drivers and complex financial plan, that is followed by valuation of Tank ONO, s.r.o. In light of the company capital structure, there is chosen DCF equity method for final valuation, in this Thesis.
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Accessability of Social Services in the Issue of Domestic Violence Against Women from the Perspective of Social Workers.
SVOBODOVÁ, Nikola
Domestic violence in Czech Republic has been for a long time and unnamed taboo. In the 1990's it came to legislative changes, none-profit organizations interested in this phenomenon were established and they started to promote this issue among the general public. Nowadays there is growing an intensive need that forces us to explore domestic violence in our country. The aim of the study was to ascertain the availability of social services for victims of domestic violence according to the opinion of social workers. There was used a qualitative research strategy. Data collection was conducted through semi-structured interviews with six social workers, who were selected by an intentional (purposeful) choice, and who all work in the field of assistance to victims of domestic violence. The theoretical part introduces the basic concepts related to domestic violence, its character, forms, reasons, the course of domestic violence, the typical profile of the offender and the victim. In the next section I focused on the legal framework, which is valid for the Czech Republic. One chapter is devoted to social services providing their assistance to victims of domestic violence. In the last chapter there are social services concretized to those, operating in České Budějovice. The practical part describes the results of qualitative research, based on individual case studies located in the appendix of work. Thanks to compiled research results there was an opportunity to look into the issue of assistance provided to victims of domestic violence in the regional capital city of České Budějovice, and find out whether this service offer meets the demand of the clients who use them. The results show what kind of various services organizations offer to its clients, in which catchment area, in what form and how many clients are they able to take. Research also showed that the offer of social services for the city of České Budějovice is sufficient, but according to respondents, there are still things to be improved. There is an option to contact a number of organizations providing assistance to victims of domestic violence. However, this situation is not as positive in the smaller towns of the South Bohemian Region. The work could, in my opinion, contribute to greater public awareness about service provided for victims of domestic violence.
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The legal status of Palestine
Bernasová, Tereza ; Grmelová, Nicole (advisor) ; Kříž, Radim (referee)
The theme of this diploma thesis is the analysis of the legal status of Palestine. The theoretical part of this thesis examines the history of Palestine, the relations between Palestine and Israel, the rejection of United Nations General Assembly Resolution 181 by Arab states, Palestinian membership in international organisations, the Oslo I Accord and the Montevideo criteria for statehood.The thesis also evaluates the final status negotiations between Israel and Palestine and various Palestinian government programs. The second part of the thesis analyses the constraints posed by divided Palestinian territories and the dynamics and interactions between Palestinian populations living in and outside the territory. Furthermore this diploma thesis focuses on the Palestinian public sector; especially on the areas of justice, education, health system and defense. Individual chapters also deal with the economic instability of Palestine and its financial dependence on the other, mostly European, countries. In conclusion, this diploma thesis will give not only a comprehensive legal view of the status of Palestine, but also views on Palestinian governance.
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The Media Influence on Transformation of Democracy
Půlpánová, Barbora ; Pehe, Jiří (advisor) ; Slačálek, Ondřej (referee)
Mass media has always played the key role in democratic process. They are not only the indicator of its right functioning, but also the iniciator. From historical point of view is obvious, that technological progress and changes in the way of informing people were related to the political area. But with the increasing role of media, they changed their position from pure mediators of informations to the main actors of social and political life. The ‚old' media, such as newspapers, radio and television, are therefore partly responsible for commercialization of the public sphere and also for its depolitization. With contribution of the globalization effect on today's world, which causes besides other things the weakening of the nation state, there are only a little of the key democratic aspects left. Some find the solution in the ‚new' media represented by the Internet and social media, which are more interactive so they could get the citizens back to the game. And right in the increase of civic engagement see the theorists the potencial for creating a new democratic order based on high-level participation. KEY WORDS Mass media, Democracy, Public Sphere, Civic Engagement, Internet, Social media, Participative Democracy, Deliberative Democracy
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