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Perspectives of Transatlantic Trade and Investment Partnership: benefits and potential risks
Bednář, Milan ; Ševčíková, Michaela (advisor) ; Zamrazilová, Eva (referee)
It is possible that the economic condition of Europe after the global financial crisis of 2008-2009 prompted idea of trade liberalization. This diploma thesis deals with the Transatlantic Trade and Investment Partnership (TTIP), a proposed free trade agreement between the European Union and the United States of America. Main goal of the thesis is to provide economic evaluation of the deal, and to assess the claim that TTIP would be beneficial for the European Union member states. Main used method is a theoretical analysis supplemented by regression analysis. The theoretical part is focused on basic economic principles of international trade and related concepts. Main tools used to assess this agreement are described in more detail as well. The analytical part deals with economic linkages between the two regions, with emphasis on the development and current status of non-tariff barriers to trade. The thesis also contains a summary of potential benefits and risks. Finally, a potential impact of TTIP on the Czech Republic and the issue of Brexit is presented. The European Union and the United States of America are linked by strong economic ties. However, trade barriers between those two entities still exist and hamper international trade. The analysis indicates that if the contract was to be impactful and significant, it must focus on a substantial reduction of bilateral non-tariff barriers to trade. This implies that TTIP could interfere with sectoral regulations. In addition, it is not certain that achieved revenues would be automatically higher than costs given the number of perceived risks. Panel data gravity models are used to quantify the potential impact of trade liberalization on export of goods of the EU28 countries to the USA. Significant elimination of trade barriers could increase EU exports to the USA by more than 20%.
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Poverty and social exclusion in regions of the Czech Republic during the period 2005 - 2015: focusing on regions Praha, Severovýchod, Jihovýchod and Moravskoslezsko
Bílek, Vojtěch ; Kotýnková, Magdalena (advisor) ; Pavlíček, Tomáš (referee)
Diploma thesis directs on poverty and social exclusion in the Czech Republic between years 2005 and 2015. The thesis focuses mainly on at risk of poverty rate, at risk of poverty and social exclusion rate and overall comparison of development of selected factors in NUTS 2 regions. The aim is to assess the impact of changes in the structure of education, economic development, employment and unemployment on poverty in selected regions of the Czech Republic and comparison of these regions among themselves. Among the selected regions are Praha, Severovýchod, Jihovýchod and Moravskoslezsko. The main hypothesis is the assumption that regions with lower share of tertiary educated people will show a lower percentage of people at risk of poverty and social exclusion.
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The financial impact of monetary factors in the selected company
Mravík, Pavel ; Kozáková, Petra (advisor) ; Žalio, Ladislav (referee)
This dissertation evaluates development of exchange rates and its specific effects on STAP company a.s. The aim of this paper is to present the events that have had influence on the development of the exchange rate between Euro and Czech Crown and precautionary measures taken by STAP a.s. to prevent related risks. The first part comprises a summary of events that had a significant impact on the exchange rate development; the risks created by these events and methods devised to prevent these risks. The second part evaluates the specific financial derivatives used by STAP a.s. and their impact. Finally the recommendation is made for the future more effective usage of the financial instruments.
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Risk analysis of the company Prestar's business plan
Bartoň, Daniel ; Špička, Jindřich (advisor) ; Vacík, Emil (referee)
The goal of this thesis is to compile a strategic business plan of the company Prestar and to identify and evaluate corresponding risks. A substantial part of the turnover is generated by business activities in Russia which recently exhibits unstable development. Strategic analysis is conducted based on the findings, key risk factors are identified and an estimate of the enterprise value based on discounted cash flow is calculated. Finally the influence of the identified risk factors on the enterprise value is simulated using the Monte Carlo method. The key risk factors include wage growth rate, development of sales generated in Russia and the exchange rate.
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Risk analysis of company strategic plan of KOVOFINIŠ s.r.o.
Mohoritová, Eva ; Špička, Jindřich (advisor) ; Heřman, Jan (referee)
The aim of the thesis is to find out risk factors, which influence the company, measure their impact on discounted cash flow of the company (DCF) and set measures to reduce these risk factors. First part of the thesis describes theoretical and methodological basis for the second practical part. Second part begins with company introduction and is followed by strategic and financial analysis to find out risk factors. After these analyses we can predict future development of the company and form financial plan for following three years. Next step is the calculation of discounted cash flow of predicted 3 years which will be used to count the impact of risk factors on the company. The last part of the thesis will contain a strategy how to reduce risk impacts.
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Risk Analysis of the Strategic and Financial Plan of the Microbrewery
Vodička, Radek ; Špička, Jindřich (advisor) ; Boukal, Petr (referee)
The aim of the masters thesis is to analyse the risk of the strategic and financial plan of a microbrewery as well as to decide whether the proposed investment project is feasible due to identified information of risk. The thesis describes and analyzes the environment of the particular enterprise by implementing a PEST Analysis, Porters Five Forces analysis, Financial Analysis, Internal Analysis and a SWOT Analysis. The result of the strategic analyses are implemented to propose an investment project with the appropriate financial plan of the investment and the Net Present Value calculation. The key risk factor is identified by implementing the Monte Carlo simulation followed by a Sensitivity Analysis and the impact of the key risk factor is analysed consecutively. Considering all the previous analyses and also ascertained information the recommendation is made to realize the investment as the result of the thesis.
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Title of the Master´s Thesis
Sečkárová, Adriana ; Vrbová, Lucie (advisor) ; Hájek, Jiří (referee)
The goal of ZOFF is formulated as a change of stagnation and increase in annual profit in term of 2 years, provided adequate low risk. The paper describes the outcomes and conclusions from a marketing research that highlights the key attributes of the company and its target audience. Way out of the situation lies in identifying the problem and its subsequent formulation. To achieve the objective are used various methods of creation and comparison of the criteria which define variants created. This process comprises a decision matrix for identification and comparison of risk scenarios. The output of the work is to evaluate and compare the resulting variants and recommendation to the elimination of possible threats.
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Energy security of China focusing on natural gas
Andrsová, Nicola ; Čajka, Radek (advisor) ; Müller, Štěpán (referee)
The diploma thesis deals with the energy security of China, mainly with the question considering energy mix, consumption, infrastructure network and diversification of importers in natural gas field. The analysis of research question is done mainly from the data of international energy organizations, from the Chinese government data and other sources, which enable to describe mentioned problems. From the People's Republic of China perspective, it focuses on the detailed description of gas pipeline infrastructure, importers and subjects, which are involved in energy sector. Risks and threats, which should occur from signed partnerships or projects, were taken into consideration too. The aim of this work is to define and evaluate the energy security of PRC, its energy policy mainly in natural gas field when considering present situation as well as possibilities for the future. Than the diploma thesis outlines the role of natural gas in Chinese energy mix, state of the gas sector in China and evaluation of projects, which take place in China's gas sector or will occur in the future.
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Stochastic models of production planning
Kříž, Pavel ; Fiala, Petr (advisor) ; Pelikán, Jan (referee)
Při plánování produkce se často můžeme setkat s nejistotou ohledně velikosti budoucí poptávky. Potom nezbývá než modelovat poptávku jako náhodnou veličinu, čímž se však modely plánování produkce stávají úlohami stochastického programování. Cílem této práce je pak prostudovat jednotlivé koncepty stochastického programování a aplikovat je na modely plánování produkce. Pozornost bude přitom věnována jak rozhodováním za rizika, kdy přesně známe rozdělení pravděpodobnosti náhodných parametrů, tak také rozhodováním za neurčitosti, kdy máme o těchto rozděleních jen částečnou informaci. Na závěr budou jednotlivé postupy demonstrovány na numerickém příkladu.
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Capital Asset Price Modelling: Concept VAPM
Kuklik, Robert G. ; Janda, Karel (advisor) ; Kodera, Jan (referee) ; Lukáš, Ladislav (referee)
The key objective of this thesis is the outline of an alternative capital market modeling framework, the Volatility Asset Pricing Model, VAPM, inspired by the innovative dual approach of Mandelbrot and Hudson using the method based on synthesis of two seemingly antagonistic factors -- the volatility of market prices and their serial dependence determining the capital markets' dynamics. The pilot tests of this model in various periods using the market index as well as a portfolio of selected securities delivered generally satisfactory results. Firstly, the work delivers a brief recapitulation regarding the concepts of a consumer/investor choice under general conditions of hypothetical certainty. Secondly, this outline is then followed by a description of the "classical" methodologies in the risky environment of uncertainty, with assessment of their corresponding key models, i.e. the CAPM, SIM, MIM, APTM, etc., notwithstanding results of the related testing approaches. Thirdly, this assessment is based on evaluation of the underlying doctrine of Efficient Market Hypothesis in relation to the so called Random Walk Model. Fourthly, in this context the work also offers a brief exposure to a few selected tests of these contraversial concepts. Fifthly, the main points of conteporary approaches such as the Fractal Dimension and the Hurst Exponent in the dynamic framework of information entropy are subsequently described as the theoretical tools leading to development of the abovementioned model VAPM. The major contribution of this thesis is considered its attempt to apply the abovementioned concepts in practice, with the intention to possibly inspire a further analytical research.
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