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Cohort differences in understanding and strategies to accumulate and preserve economic capital
Janda, Matyáš ; Hájek, Martin (advisor) ; Tremčinský, Martin (referee)
The thesis Cohort Differences in Understanding and Strategies of Economic Capital Accumulation and Preservation compares the strategies of two different generations in the context of economic capital accumulation and preservation. The theoretical part focuses on the term capital, both from a historical and a modern perspective, while describing the term from a multi-paradigm perspective, particularly from an economic and economical-sociological perspective. Furthermore, the thesis provides insights into Karl Mannheim's theory of generations. Our research has helped us to find and understand the main differences in capital accumulation and preservation strategies, such as the approach to risk or the approach to the ever-evolving financial market. The paper is also critically reviewed in the Limits of Research chapter, where we analyze what could be more effectively explored in future studies of this topic.
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The economic capital and the price of risk in a pension fund
Čupák, Matúš ; Finfrle, Pavel (advisor) ; Mandl, Petr (referee)
In the present work we study the economic capital of pension funds and their possible extension into the new concept of Solvency II. The main task is to examine the risks that are characteristic for pension fund activity. We use several modified stress simulations, which we model using a virtual model of pension fund. Primarily we focus on changes in net asset value (NAV) which is used in standard formula for calculation of the solvency capital requirement (SCR). In conclusion, we evaluate the possible impact of applications Solvency II to pension funds, the resulting economic capital and solvency of modeled pension fund.
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The Youth Consumerism and Its Interdependency with Economic and Cultural Capital
Beránková, Petra Alexandra ; Šanderová, Jadwiga (advisor) ; Pašková, Miroslava (referee)
The work deals with the consumerism of thirteen and fourteen years old youths. The authoress aims to answer the question of what extent the observed age category seems to be consumer in their attitudes and whether their consumerist attitudes have an universal character or whether it is structurally related to their economic and cultural capital. At first the authoress briefly presents the consumerism as a sociological topic. She pays a particular attention to the impact of social stratification on the lifestyle. As her main theoretical basis she states a concept of homologous classes of Pierre Bourdieu, from which she incorporates the concept of economic and cultural capital as the main differentiating principles affecting the lifestyle. In addition she presents the characteristics of today's school children in the context of Czech society and mentions the role of socialization in the transfer of capital and consumption patterns from parents to their child. Finally, the authoress describes her approach to the analysis of data on attitudes towards the consumption in defined age category. She introduces readers to research results, which show the prevailing consumerism of monitored group. On the basis of correlation analysis, the authoress notes that there are significant correlations between indexes...
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Aggregation of dependent risks
Asipenka, Anna ; Mazurová, Lucie (advisor) ; Omelka, Marek (referee)
In this thesis we are interested in the calculation of economic capital for the to- tal loss which is the sum of partial dependent losses, whose dependence structure is described by Archimedean and hierarchical Archimedean copulas. Firstly, the concept of economic capital and the ways of its aggregation are introduced. Then the basic definitions and properties of copulas are listed, as well as the depen- dence measures. After that we work with definition and properties of Archimedean copulas and their simulation. We also mention the most popular families of Ar- chimedes copulas. Next, hierarchical Archimedean copulas are defined, as well as the algorithm for their sampling. Finally, we present methods for estimating the parameters of copulas and the recursive algorithm for estimating the hierarchical Archimedean copula structure. In the last chapter we perform simulation studies of selected models using hierarchical Archimedes copulas. 1
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Risk aggregation allowing for skewness
Šimonová, Soňa ; Mazurová, Lucie (advisor) ; Zichová, Jitka (referee)
The main objective of this thesis is to examine different methods of calcula- tion of economic capital for an insurance company which allow for skewness. For calculating the economic capital we use two alternative risk measures- Value at Risk (VaR) and Conditional Value at Risk (CVaR). The first part of the thesis is concerned with deriving exact formulae for VaR and CVaR for normally distribu- ted losses and describing the modification of these formulae using Cornish-Fisher approximation. Next, the method using lognormal model with a parameter cap- turing skewness is discussed. The parameter is used for deriving a formula for skewness of a sum of losses. The approximation of the sum is thus obtained and is used for deriving formulae for VaR and CVaR for aggregated losses. Finally, the methods are compared numerically using R software. 1
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Economic and social interaction during Normalization era - system of return services and barter exchange in non-cash market
Kříž, Štěpán ; Vaněk, Miroslav (advisor) ; Franc, Martin (referee)
The diploma thesis Economic and social interaction during Normalization era is is based on qualitative research. It deals with issues of system of return services and barter exchange in non - cash market in 1970's and 1980's in Czechoslovakia. The centrally planned economy was not able to produce enough consumer goods and meet the demand of the population. Employees, who worked in department stores, took easier approach to consumer goods than others. They excercised power over distribution and they traded some commodities for another services. As a research method applied is oral history. The primary sources used are narrative interview and secondary history literature.
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