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Calculation of the Credit Value at Risk
Zamazal, David ; Mandl, Petr (referee) ; Benková, Markéta (advisor)
Thesis describes calculation of the credit value at risk for portfolio composed of traditional bank loans. The risk is measured by incurred expected and unexpected losses at the end of some time horizon. Thesis is splitted into two parts - theoretical part and computational part. The most known and most widely used models are described in the first part, in conjunction with definition of their main input parameters - probability of default, exposure at default, loss given default and correlation between debtors. Detailed theoretical description of two chosen methods comes after - CreditMetrics method and Vasicek's method. The examined portfolio is characterized in the computational part, along with other input parameters, essential for evaluation. Then model implementation into software Mathematica is described, evaluation run and the results. Eventually both methods are compared.
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The budgetary responsibility
Kafka, Stanislav ; Boháč, Radim (advisor) ; Marková, Hana (referee)
The thesis deals with the term of budgetary responsibility, past drafts trying to enact this term to the legal system of Czech Republic, and also deals with applicable legal rules contained in the European Union legal system. The aim of this thesis is to analyze every existing draft in the Czech legal system (with the special attention to the last legal draft), and trough this analysis reach to the ideal set of rules for the budgetary responsibility. The first chapter contains the description of the basic term and the theoretical basis for the rest of this thesis. Elementary terms are described first and trough that it comes to the main term of the principle of the long-term balance of public budgets and to the term of budgetary responsibility. The second chapter aims to describe every single legal draft made in Czech Republic during the past year. Main attention is provided to the last legal draft of the constitutional act of budgetary responsibility and to the related draft of the secondary legal adaptation, which was presented in the year 2015. The third chapter aids to the European Union legal adaptation of the budgetary responsibility. At first the thesis deals with the form of budgetary responsibility in the Treaty on European Union and the Treaty on the Functioning of the European Union....
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The Influence of European Central Bank Interest Rates upon Consumption in Eurozone Countries
Glykner, Daniel ; Mandel, Martin (advisor) ; Chytilová, Helena (referee)
First, this paper presents basic definitions of the consumption function and gives a summary of main theoretical concepts of consumption as well as an overview and discussion of important papers on consumption. Above all, papers examining the influence of the interest rate upon consumption are accented. Furthermore it contains a brief context summary of current and potential eurozone members, work of the ECB and execution of common monetary policy. Subsequently we discuss the hypothesis of a possibly asymmetric impact of the interest rate upon consumption in individual countries, expand and justify the hypothesis based on indebtedness, wealth, etc. Empirically, hypotheses are tested on historical data of individual countries: transmission between interest rates of central banks (later the ECB) and market interest rates, correlation analysis of consumption changes and central interest rates in individual countries, correlations with year-on-year changes. Also, consumption functions are estimated using time series models while testing alternative variables in the regression equations. We discuss analysis results and methods used; the influence of the interest rate upon consumption seems to be small and the relationship type is not much different across the eurozone countries. Eventually, we outline possible implications of our results with respect to the future of the eurozone and related activity of the ECB.
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The competitiveness of the EU: Lisbon Strategy and the comparative profile of the member states
Čiháková, Jitka ; Abrhám, Josef (advisor)
The main objective of this thesis is to analyze the competitiveness of the EU countries. First chapter is about the competitiveness, first theoretically, then in numbers based on the the competitiveness index of WEF and IMD and Doing Business of the Worl Bank. The second chapter describes the Lisbon Stategy and analyses the Lisbon score. The last chapter compares the European and the US economy. The conclusion contains recommendations to the next development of the competitiveness of the European union.
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Method of Fixed Assets Financing under the conditions of risk and uncertainty
Vaculová, Lucie ; Čechovský, Jiří (referee) ; Zinecker, Marek (advisor)
Diploma thesis deals with the issue of choosing the right form of financing in the risk and uncertainty conditions - by bank loan or finance leasing. The leasing principle, contemporary condition of the Czech leasing market and the factors influencing the price of the financial leasing are reviewed at first. Then the attention is transfered to bank loans and their diversification. To finish the theorical data I´m featuring the methods of comparing both forms of financing and defining the risks. The aim of diploma thesis is choosing which of two forms of financing is preferable for the enterprise who wants to buy new goods vehicle for its business.
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DEMATEL method and its utilization in multi-criteria decision making
Navrátil, Michal ; Jablonský, Josef (advisor) ; Fiala, Petr (referee)
This thesis is concerned with problematics of multi-criteria decision making, especially method DEMATEL, its modifications and combinations with another methods. There is description of particular steps of this methods and selected theory from various areas, which is used in these methods. In every chapter we can find theoretical explanation of these methods, description of their steps and afterwards these theoretical findings are applied on numerical example. Firstly, the crucial method is introduced. Then this thesis is concerned with its adjustments based, on different approaches, which are often used not only in decision making. In the end, all these findings are aggregated and new method is founded.
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Velocity of money and its relevance for monetary policy
Boháčik, Ján ; Koderová, Jitka (advisor) ; Metrah, Samy (referee)
The thesis discusses some issues on the topic of money velocity. Its goal is to summarise theroretical contributions in this area, which are followed by a practical application through the monetary analysis of the Slovak Republic from 1993 to 2000. The theoretical part involves the first approaches to money velocity, explanation of the quantity theory of money and monetarism and their critique. It also describes the monerary transmission mechanism. The practical application part evaluates the impact of the stability of money velocity on the decision of the National Bank of Slovakia to abandon monetary targeting. It also focuses on the other variables that influenced monetary policy execution. The last chapter is devoted to the importance of money velocity if the central bank uses inflation targeting as its policy.
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Characteristics, types and social use of Securities. Legislation under the Civil Code no. 89/2012 Coll. (after the abolition of the Securities Act no. 591/1992 Coll.)
Kauerová, Ladislava ; Kadlecová, Eva (advisor) ; Pavla, Pavla (referee)
The thesis aims to provide basic information and a holistic overview of securities, especially their adjustment in the legislation. The thesis is based on the current wording of the legislation which are especially Act no. 89/2012 Coll. according the New Civil Code. The first part of the thesis is about the basic distribution of the securities and is characterized in detail the issue of securities legislation. Subsequently is described capital market functioning in the framework of the standard market economy. The practical part is devoted to collecting data from the lay public and experts. The aim of the survey is if the capital market is properly treated after a change in legislation. The method is a statistical evaluation. The thesis also shows how practically proceed in the beginnings of securities trading on the Internet.
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The Management of Credit Risk SME Segment
Ježek, Michal ; Ulrich, Milan (advisor) ; Stanislav, Stanislav (referee)
Diploma thesis Credit risk management of SME segment is engaged in the credit process in the segment of entrepreneurs and small business owners, and also part of the segment of the public and nonprofit sectors in an existing bank operating in the Czech market. In the theoretical part there are defined basic approaches in bank risk management and their divisions. Follows overview of the different approaches. Another part is more detail devoted to credit risk. Credit risk is then solved by the credit case, incl. analysis of the credit approval process. Emphasis is also placed on the rating process by which the credit approval begins and ends.
The practical part of the work is focused on the analysis of product portfolio of the bank. The work deals with various credit products of the banks in this segment, in terms of supportability, delinquency, and overall risk. The second part is an analysis of the portfolio in terms of individual sectors, where are evaluated selected risky and less risky sectors.
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Cultural differences in educatin Czech and English families
Zmeková, Olga ; Slaboch, Martin (advisor) ; Tereza, Tereza (referee)
The master thesis introduces the educational systems in the Czech Republic and the United Kingdom of Great Britain and Ireland, with focus on England. When assigning the master thesis topic, the author did not realize how extensive and complex the topic was. Therefore, while studying documents, reserching information, and finding respondents, the topic of the thesis narrowed to focus only on the educational systems of both countries and their comparison from the teachers´point of view. The thesis is divided into two parts: theoretical and practical. The theoretical part is built on information gained from studying documents. The author will present both systems, their history, basic features, and the individual stages of education. Concerning this topic, a relatively sufficient amount of literary and online resources exists. The practical part of the thesis introduces the results of a qualitative research. As a part of this thesis, ten interviews with teachers who have experience with both the Czech and English educational systems took place. Due to the broadness of the topic, the author has chosen the above mentioned qualitative research, specifically a semi-structured interview, which allows the topic to be researched thoroughly. The teachers had an opportunity to share their knowledge and experience, which they gained throughout their careers. The interviews enabled the author to gain new information which were not found in literature. The personal experiences brought a certain amount of authenticity to the thesis. The conclusion of the thesis consists of a summary of the information the author has managed to gather.
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