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Legal regulation on financial market manipulation
Hofman, Michal ; Kotáb, Petr (advisor) ; Sejkora, Tomáš (referee)
Legal regulation of financial market manipulation Abstract This thesis deals with the legal regulation of financial market manipulation and is divided into 11 chapters. First, the thesis defines the concepts and framework of the financial market and the theoretical background to the regulation of market manipulation. Further, the thesis introduces to the reader the historical development of market manipulation and the regulation of its prohibition, including the history of market manipulation legislation in the EU, and the current process for the adoption of financial legislation (the Lamfalussy process). The thesis then introduces the MAR Regulation, which contains the current provisions against market manipulation and compares it with its earlier legislation. Then the thesis discusses the categories and features of market manipulation under MAR and the exceptions to the prohibition of manipulation. In particular, the manipulation based on the use of false or misleading signals or signals securing price at an artificial level, manipulation using fictitious devices or other forms of deception or contrivance, manipulation based on information and manipulation based on a benchmark are discussed. Among the exceptions to the prohibition, the thesis lists accepted market practices, buyback and stabilization...
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Economic and Legal Aspects of Corporate Governance with regard to the Impacts of the Financial Crisis in 2007 - 2009
Hofman, Michal ; Bažantová, Ilona (advisor) ; Seknička, Pavel (referee)
77 Abstract Economic and Legal Aspects of Corporate Governance with regard to the Impacts of the Financial Crisis in 2007 - 2009 This thesis deals with the impact of the financial crisis that occured from 2007 to 2009 on corporate governance of the United States, the United Kingdom, the Czech Republic, the OECD and the European Union. Even before the financial crisis, companies like Enron or WorldCom has already shown the need to regulate corporate governance but the responses to those bancrupts have not been sufficient because they could not prevent the financial crisis a few years later. The financial crisis is regarded as well as a crisis of corporate governance and the aim of this work is to analyze this crisis and its solution. The thesis is divided into 8 chapters, where the first chapter briefly gives definitions introduces the issues of corporate governance and the second chapter briefly describes the causes and course of the financial crisis. The next chapters deal with the impact of the crisis on corporate governance where the main topics addressed are compensation, risk management, practices and responsibilities of the board and the role of shareholders. The last chapter is devoted to description of corporate governance and its shift since the financial crisis. Finally, the conclusion summarizes...
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Methodical Technique of Makiwara Impact Training
Hofman, Michal ; Venzara, Jan (advisor) ; Štěpánek, Jan (referee)
Thesis title: Methodical Technique of Makiwara Impact Training Objective: The aim of the thesis is to create methodical technique of Makiwara impact training, detailed description and building of this punching board as well as its use while training. A further goal is to introduce the anatomy of the Seiken points of impact and their functional and anatomical changes that happen during the Makiwara impact training process. Methods used: To build the methodical technique of Makiwara impact training I set up techniques of direct and indirect observation and mainly a method of rating. Furthermore I interviewed people involved and collected the relevant data. Results: As an outcome of my thesis I created the methodical technique of Makiwara impact training, universal rules, training process stages and three alternatives of Gjaku Cuki impact. I introduced a manual how to build and assemble three different kinds of Makiwara. I described anatomical and functional changes of Seiken points of impact which happen during the Makiwara impact training process. Key Words: Makiwara, points od impact, Seiken, training process, Gjaku Cuki.
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