| |
|
Currency risk hedging demonstrated on investment portfolios
Siuda, Vojtěch ; Mandel, Martin (advisor) ; Brada, Jaroslav (referee)
This bachelor thesis is focused on currency hedging in investment portfolio. At first are explained the terms currency risk and currency exposure and then the instruments for currency hedging are described. In the practical part of this thesis is reader acquainted with the crown class and the dollar class of US equity mutual fund. Yields are analysed in short and long term as well as with long and short term risk. The description of the hedging technique is also included in practical part. The last chapter is dedicated to questions, when is suitable to be hedged and how to find the ideal hedge ratio for minimizing the currency risk. Considered is also the possibility of using currency movements as an element of investment strategy.
|
|
Design of airframe mold for ultra-light aircraft manufacturing
Zatočilová, Aneta ; Dočkal, Aleš (referee) ; Paloušek, David (advisor)
This diploma thesis deals with digital data processing during the design of a mould of ultralight airplane airframe. The final digital model meets the demands on manufacturability by using CNC machining. The realization, in compliance with the reverse engineering approach, was conceived in four phases, which had to be solved step by step in order to preserve the continuity of the process. The phases correspond to the main chapters of the practical part of the thesis. The first part is focused on 3D digitalization of airplane fuselage by using an optic scanner ATOS and photogrammetric system Tritop. The result of this part is digital data of fuselage geometry in form of polygon grid. Next part deals with software reconstruction of collected data – by optimizing polygon grid in order to provide suitable base for surface modeling. The third part, the most time demanding, handles the creation of airplane fuselage surface model. Geometry has to satisfy requirements for smoothness and tangential or curvative connection of surfaces, including other requirements resulting from model usage. The final part of the thesis documents the procedure of deriving a mould from the aircraft fuselage geometry.
|
|
The Nutrition for Oncology Patients
Talířová, Klára ; Jurásková, Dana (advisor) ; Kohout, Pavel (referee)
The thesis deals with the topic of nutrition for oncological patients. Tumour illnesses are often followed by diet malfunctions, great loss of weight and dysorexia. Diet malfunctions can be caused not only by the tumour illness itself, but also by tumour treatment. Malnutrition of an oncologically ill patient might worsen the state of the illness together with the quality of the life. The thesis provides a view onto this serious but unfortunately also often neglected side of the problem and emphasises the need of awareness among the patients about the proper diet. The thesis consists of a theoretical and practical part. The theoretical part includes in-depth information of nutritional problems of the patients and knowledge of the specific diet. The practical part focuses research of particular problems exhibited by the patients related to their illness and its treatment. Additionally it checks their awareness of possibilities of the proper diet suitable during the illness (therapy) and how nurses are involved into providing the information. Special concern is also given to the role of proper diet awareness in everyday care.
|
|
Motion control during hanged object transportation
Richter, Jan ; Davidová, Olga (referee) ; Němec, Zdeněk (advisor)
The Diploma Thesis focuses on examination of most suitable optionsof movement regulation of pendent object from the perspective of various requirements on the course of the process as such. The environment of Matlab-Simulink was used for the analysis. The first part of the Thesis deals with the creation of the model of the whole system and creation of additional models of systems with similar, highly oscillating behaviour. The central part of the Thesis focuses on the design of suitable methods of movement regulation during translocation of the pendent object, which is tested on a simple model of travelling monkey. Four approaches to the problem solving were chosen: simple regulation by PID regulator, branched regulation, state regulation and predicative regulation. All solving options are being analysed and optimised and their results mutually compared according to requirements defined, such as: speed of the process, fluency of the movement, small pose overshoot or small angle of rope deflection.
|
| |
|
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.
|
|
Organization of Technical Disposition of Production
Šípková, Nela ; Luňáček, Jiří (referee) ; Osička, Karel (advisor)
The main objective of this thesis was evaluated to existing activities in technical disposition of production. Based on lessons learned to recommend an appropriate information system and propose a methodology for implementation of the company. Design an information system is applied to the company NEDFORM Ltd., which is looking for an information system suitable for the technical dispositon of production. Proposal is based on the actual software and Hardware Company. Part of this work is design to a suitable supplier for the company.
|
|
Child with ADHD in Younger School Age
Johnová, Markéta ; Ortová, Marie (advisor) ; Nejedlá, Dana (referee)
This essay is dealing with a problem of children with ADHD, especially taking into consideration how to work with them and what kind of surrounding is suitable for them according to the reduction of their difficulties. In the first chapter I am presenting the basic information about ADHD. I have included this chapter for general familiarization with this problem and with the difficulties, that the children with this diagnosis have. Further in my essay I am presenting mainly the practical recommendation for common life at home and in school. In the practical part I am describing the system of ZŠ Grafická, what is the approach to the chidren with ADHD in practice nad what is the school offering to them. By the description of the practice and the surrounding at the ZŠ Grafická, I am comparing the theory of approach to children with ADHD with the situations in real life. Due to the descriptions, the comparison can be done by the reader. Summary is noted in the Conclusion. The problem of the children with ADHD is quite broad, the children have difficulties of different extension and seriousness. Ussually, they do not differentiate from the ordinary children but they are in disadvantage when they have to deal with education, learning and coping with daily situations. Common life can be eased by the right approach...
|
|
Energy simulation of solar collectors operation in a low-energy family house with warm-air heating
Pech, Ondřej ; Charvát, Pavel (referee) ; Jaroš, Michal (advisor)
The thesis deals with energy simulation of a solar energy system in a low-energy family house with warm-air heating. The simulations performed resulted in the assessment of the energy contribution of four solar systems with different types of collectors. The profitability and return of investment for the particular system have been evaluated based on investment costs and the savings gained. The theoretical part includes an introduction to the solar energy field, solar panel systems and the passive house concept. The practical part is devoted to description of the simulated object models as used in the TRNSYS environment, the simulation results evaluation along with the assessment of the economic return on investment. The conclusion recommendations regarding a suitable type and size of the solar panel with respect to the economic criteria chosen are given.
|
guest ::
