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Řízení lidí v multikulturním prostředí
Moryc, Katarzyna Małgorzata ; Dvořáková, Zuzana (advisor) ; Vávra, Radovan (referee)
The main objective of the thesis was to define and analyze key aspects of managerial work in multicultural environment, in one of the Shared Services Center department, of multinational company based in Prague, Czech Republic. Further thesis aimed to define essential competencies of the successful manager and leader driving performance of multicultural department and provides recommendations to improve managerial performance in key aspects of manager s work such as communication, motivation, performance management and cross-cultural leadership. It is argued that presence of intercultural interactions between managers and their subordinates, impacts effectiveness of the managerial performance. Thesis consists of theoretical and practical part. First part of the thesis explores theoretical concepts regarding culture, communication, motivation and leadership with respect to multicultural environment specifics. In the second part, used research methods, conducted research analysis and outcomes are presented. Further in practical part recommendation towards analyzed aspects of managerial work that would lead to higher overall department performance are defined.
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The Effects of the New Deal on the social status of Afro-Americans in selected sectors of the US economy
Schwammenhöfer, Tomáš ; Tajovský, Ladislav (advisor) ; Johnson, Zdenka (referee)
This bachelor thesis deals with the effects of the New Deal legislation on Afro-Americans in the 1930s. Specifically, the thesis analytically focuses on the influence of various politician of this program on their social environment within the US economy. For the ease of understanding of whole issue is needed to know the situation of Afro-Americans in the previous decade as well as in the Great Depression. That is the content of the first two chapters. Subsequently there is the outline of the situation leading to the election of F. D. Roosevelt, US President. The last and as well the most important chapter of the whole thesis is devoted to analysis of individual programs and their impact on Afro-Americans. It concludes that the New Deal had both positive and negative influence on this minority, depending on the economic sector and the relevant administration. New Deal generally meant a huge progress in their economic and political affairs.
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Analysis of the Economic Development of BRICS Countries in 2007–2015
Berka, Kryštof ; Procházka, Pavel (advisor) ; Dyba, Karel (referee)
The aim of the bachelor's thesis is economic development assessment among and within BRICs countries in the context of developed world during 2007-2015. Based on yearly panel data, an analysis for following macroeconomic indicators was carried out: gross domestic product, inflation rate, unemployment rate, current account on the balance of payments, exchange rate. The profound analysis of selected indicators is instrumental in the comparison of member states and is supplemented by the comparison of BRICs and G6. Based on its evidence, I come to a conclusion that the BRICs as a whole succeeded in establishing as a strong global actor. That has been achieved with the help of global financial crisis, but also with regard to the economic policy implemented in 2007-2015. As a result, GDP of BRICs in terms of GDP of G6 achieved stable growth rate leading to its increase by 52 %. Besides providing main findings, outcomes of this thesis enable to identify main weaknesses and strengths of BRICs economies affecting the prospects for continuance of stable economic growth.
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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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The American Foreign Policy with the Middle East : from the earliest days to the Obama’s mandate
Petraud, Jean-Félix ; Eichler, Jan (advisor) ; Dubský, Zbyněk (referee)
The following dissertation is an attempt of analysis and understanding of the foreign policy of the United States in the Middle East region and its evolution through time. Considering the fact that the Middle East region is or at least used to be a vital region for the United States national interests, the dissertation presents an exhaustive list of major events that have been major shifts in the US foreign policy in the region. The more or less chronological timeline allows the reader to have a better understanding of the evolution of the US foreign policy. The result of the dissertation is the identification of different patterns of foreign policy and to put the spot on the reasons of the changes of these patterns. Nevertheless, the history of the Middle East region and the incredible number of major events through the 2Oth century and the early 21st century make impossible to deal with all of them. Moreover, analysis and comments are based on academic research, but the dissertation remains subjective and may lead to discussions and debates.
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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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Clustering and regression analysis of micro panel data
Sobíšek, Lukáš ; Pecáková, Iva (advisor) ; Komárek, Arnošt (referee) ; Brabec, Marek (referee)
The main purpose of panel studies is to analyze changes in values of studied variables over time. In micro panel research, a large number of elements are periodically observed within the relatively short time period of just a few years. Moreover, the number of repeated measurements is small. This dissertation deals with contemporary approaches to the regression and the clustering analysis of micro panel data. One of the approaches to the micro panel analysis is to use multivariate statistical models originally designed for crosssectional data and modify them in order to take into account the within-subject correlation. The thesis summarizes available tools for the regression analysis of micro panel data. The known and currently used linear mixed effects models for a normally distributed dependent variable are recapitulated. Besides that, new approaches for analysis of a response variable with other than normal distribution are presented. These approaches include the generalized marginal linear model, the generalized linear mixed effects model and the Bayesian modelling approach. In addition to describing the aforementioned models, the paper also includes a brief overview of their implementation in the R software. The difficulty with the regression models adjusted for micro panel data is the ambiguity of their parameters estimation. This thesis proposes a way to improve the estimations through the cluster analysis. For this reason, the thesis also contains a description of methods of the cluster analysis of micro panel data. Because supply of the methods is limited, the main goal of this paper is to devise its own two-step approach for clustering micro panel data. In the first step, the panel data are transformed into a static form using a set of proposed characteristics of dynamics. These characteristics represent different features of time course of the observed variables. In the second step, the elements are clustered by conventional spatial clustering techniques (agglomerative clustering and the C-means partitioning). The clustering is based on a dissimilarity matrix of the values of clustering variables calculated in the first step. Another goal of this paper is to find out whether the suggested procedure leads to an improvement in quality of the regression models for this type of data. By means of a simulation study, the procedure drafted herein is compared to the procedure applied in the kml package of the R software, as well as to the clustering characteristics proposed by Urso (2004). The simulation study demonstrated better results of the proposed combination of clustering variables as compared to the other combinations currently used. A corresponding script written in the R-language represents another benefit of this paper. It is available on the attached CD and it can be used for analyses of readers own micro panel data.
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Míry podobnosti pro nominální data v hierarchickém shlukování
Šulc, Zdeněk ; Řezanková, Hana (advisor) ; Šimůnek, Milan (referee) ; Žambochová, Marta (referee)
This dissertation thesis deals with similarity measures for nominal data in hierarchical clustering, which can cope with variables with more than two categories, and which aspire to replace the simple matching approach standardly used in this area. These similarity measures take into account additional characteristics of a dataset, such as frequency distribution of categories or number of categories of a given variable. The thesis recognizes three main aims. The first one is an examination and clustering performance evaluation of selected similarity measures for nominal data in hierarchical clustering of objects and variables. To achieve this goal, four experiments dealing both with the object and variable clustering were performed. They examine the clustering quality of the examined similarity measures for nominal data in comparison with the commonly used similarity measures using a binary transformation, and moreover, with several alternative methods for nominal data clustering. The comparison and evaluation are performed on real and generated datasets. Outputs of these experiments lead to knowledge, which similarity measures can generally be used, which ones perform well in a particular situation, and which ones are not recommended to use for an object or variable clustering. The second aim is to propose a theory-based similarity measure, evaluate its properties, and compare it with the other examined similarity measures. Based on this aim, two novel similarity measures, Variable Entropy and Variable Mutability are proposed; especially, the former one performs very well in datasets with a lower number of variables. The third aim of this thesis is to provide a convenient software implementation based on the examined similarity measures for nominal data, which covers the whole clustering process from a computation of a proximity matrix to evaluation of resulting clusters. This goal was also achieved by creating the nomclust package for the software R, which covers this issue, and which is freely available.
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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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