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Financial benchmarking of two agriculture companies
KRAUSOVÁ, Aneta
The thesis is focused on the financial benchmarking of two agricultural enterprises. This financial benchmarking is part of corporate financial management. The aim was to identify the causes of disparities in development and the status of financial situation of the two compared enterprises (based on the results of the financial analysis for the years 2009-2013).
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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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Risk group of persons with disabilities on the labour market in Prague from 2005 to 2015
Hošková, Laura ; Maule, Petr (advisor) ; Lukášová, Tereza (referee)
The theoretical part of the Bachelor Thesis comprehensively illustrates the status and representation of persons with disabilities (PWD) on the current labour market in the Czech Republic. In a general manner, the Thesis looks at the employment policy as well; especially its legislative basis in the legal framework of the Czech Republic and selected EU countries. Furthermore, the legal obligations of employers of PWD and the possibilities of fulfilling the mandatory share of PWD employment are stated. Findings of two qualitative employment studies are presented showing that PWD enter the labour market equipped with specialized competencies, which they are willing to complete by retraining programmes in case of need. The employers perceive the employment of PWD mainly as a financial profit, granted to them by the state; and the legislative conditions are a sufficient incentive for them. The questionnaire survey pointed out that the weakness in the employment of PWD is the lack of part-time jobs, which are highly demanded among them. Therefore the Thesis presents a solution, which could be the creation of shared work positions.
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Empirical analysis of Okun’s law in Iceland
Zajíček, Zdeněk ; Slaný, Martin (advisor) ; Chytilová, Helena (referee)
This thesis deals with empirical analysis of Okuns law in Iceland. Okuns hypothesis of negative relationship between real GDP and the rate of unemployment is being tested on two models, difference and gap, using OLS estimation. Also there are two filtration methods used (Hodrick-Prescott and Baxter-King) for gap model estimation. The results of all models showed weak relationship of variables, but proved the hypothesis. In the following part, the same procedure is being used on Finlands data, to get comparison of coefficients. Results for Finland showed weaker bond of variables than in Iceland, but the Okuns hypothesis still holds. Last part is focused on finding the sensitivity of rate of unemployment to changes in added value of each economical sector in Iceland using the production approach model. This model gave inconclusive results due to insufficient data available.
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A Comparison of Two Models of the Energy Market Development in Czech Republic from 2015 to 2040
Dvořáková, Jitka ; Zeman, Martin (advisor) ; Lukášová, Tereza (referee)
The bachelor thesis is focused on the prediction of the energy market in the Czech Republic between 2015 and 2040 and on the comparison of potential costs related to two models of energy portfolio management. The first model was created according to the National Energy Concept from 2014, while the other one was designed artificially to simulate usage of the renewable resources in 50% of the electric energy production. The theoretical part of the thesis discusses the recent situation of the Czech energy market, defines types of energy resources and explains terms related to the discussed topic. In the practical part, direct production costs of different kinds of power plants were computed and used to estimate economic demands of the two considered models. The efficiency of both models was compared and evaluated. The aim of the thesis was to decide, which of the two models would be more favourable for the Czech national economy. Key words: energy, energy market, direct costs, economic advantage JEL classification: Q40, Q41, Q43, Q47
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The Controlling Study
Herda, Tomáš ; Mikovcová, Hana (advisor) ; Herda, Zdeněk (referee)
The main goal of this Diploma´s Thesis is to make a model for calculation of water and sewer rates for the company Vodovody a kanalizace Náchod, a.s. when sticking to the set criteria both from the side of VaK Náchod, a.s. and law regulations. Based on the theoretical part an analysis of customer sensitivity to the price changes using the data for last 20 years follows. Findings from the first two parts are used in risk analysis in next part. The created model calculates the water and sewer rates based on the information from the company accounting system in the way to generate sufficient financial resources to fulfill the renovation plan of infrastructural property plant and equipment and to transfer given amount to the company funds. In addition, the model monitors whether the legal condition of maximal allowable increase of profit per m3 is met. In the customer sensitivity to the price changes part the price elasticity of demand for water and sewer rates is calculated based on the data from 1995 to 2015. The assumption of inelastic demand is confirmed. Risk analysis part is deals with potential risk regarding the demand and prices. Potential impacts for the most significant risk are quantified. The analysis uses knowledge gained in the first two parts. It was confirmed that potential risks are exiting but do not have any significant impact on the going concern of VaK Náchod, a.s. The created model has been already used for the calculation of prices for the year 2017. Customer sensitivity analysis to the price changes and link to the potential risks is an additional information for VaK Náchod, a.s. which validates that nowadays, there are no significant threats which could affect the demand and water and sewer rates significantly.
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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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Internal equity principle in the context of company strategy
Kopecký, Martin ; Nový, Ivan (advisor) ; Háša, Stanislav (referee) ; Blažek, Ladislav (referee)
The thesis deals with the scientific problem of the link between the strategic management and the compensation system using the principle of internal equity. The work is based on two pillars, namely the qualitative research and own proposed solution. The first part of the thesis describes the qualitative research and the possibilities and the synergistic effects of linking business strategy and compensation system. The qualitative research is performed as a multi-case study and investigates the phenomenon in the practice of three companies from various markets (the Czech Republic, Slovakia and Bosnia and Hercegovina) and industries (finance, IT/Telco and FMCG). The research tries to find answers to the four research questions: How does business strategy influence compensation process? How can compensation support the realization of a business strategy? How can business strategy be linked with a compensation system within the principle of internal equity? How can compensation reinforce the strategic function of the human resources management? The research is based on the study of theoretical sources as well as on practical fieldwork. The qualitative research itself uses qualitative research methods for data collection, such as observations, questionnaires, and document analysis. The population questioned was top managers, line managers and representatives of HR department. In total, 142 interviews were performed by a single person. The collected data were analyzed and the triangulation was applied. The findings were summarized and generalized into a final report that brings answers to the research questions above. The research brings valuable findings used in the second, design part of the thesis. The own proposed solution consists of two main models. The first one is a simplified scheme of the compensation system and the second one is a model of strategic segmentation of jobs. The first model could be used successfully in the business practice as well as in education. The second model of the strategic job segmentation brings answer to the question of synergistic linking of business strategy and the compensation system within the principle of internal equity. The model brings valuable findings and a foundation for further theoretical research and its further development. The model also brings practical solution to the design of related policies and processes in the strategic management of human resources. By the design of both proposed models the main objectives of the thesis were achieved.
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Multicriteria games
Tichá, Michaela ; Dlouhý, Martin (advisor) ; Lachout, Petr (referee) ; Čičková, Zuzana (referee)
Theory of multicriteria games is a special field of game theory, when one or more players have at least two payoff functions and want to maximize simultaneously. The work introduces a number of new findings. It examined the concept of finding equilibria in pure strategies in noncooperative multicriteria game. It is possible to find all the equilibria in pure strategies by full search and solving two linear programs for each point. Furthermore, two linear programs are formulated for verifying that a selected point is the equilibrium of the game or not. In the noncooperative games is also introduced the concept that with knowledge of the equilibrium of bimatrix game determines preferences of the players. Although finding the equilibrium point of the bimatrix game is nonlinear problem, finding the preferences is linear problem. The latest findings in the noncooperative games is a generalization of the concept that solves multicriteria game by assigning weights to each criterion of each player. The work demonstrates that it may not be necessarily linear weights, but it can be more general function that describes the player's preference. The remaining part is devoted to knowledge in cooperative games. There is considered that the players know their preferences and are able to express them by weights. The game with known preferences is defined and solved with the use of bargaining theory. Then it is generalized to a case where players have more payoff functions, from which they can choose. Finally, the multicriteria case of voting game is defined. It is designed completely new concept, which selects the winning coalition in the voting game. This concept is then applied to the real situation after the elections to the Chamber of Deputies in 2013.
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