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Proposal to Extend the Investment Portfolio of the Sector-focused Stock Hedge Fund
Beneš, Václav ; Galečka, Ondřej (referee) ; Rejnuš, Oldřich (advisor)
The bachelor thesis focuses on the design of an appropriate expansion of the investment portfolio of a hedge fund investing in shares of companies in selected sectors. It specifies the legal and theoretical aspects of the functioning of the hedge fund in the Czech Republic and analyzes the shares of the individual companies, which then compare and evaluate on the basis of predefined criteria. It includes a proposal to extend the investment portfolio, which contributes to raising the value and profits of the fund.
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Vliv vystoupení Velké Británie z EU na finanční instituce se sídlem v City of London: Doporučení pro rozhodování vlastníků a manažerů o přesunu sídla
Pomykalová, Lenka
Pomykalová, L. The impact of the United Kingdom leaving the EU on financial institutions in the City of London: Recommendations for the decision-making of owners and managers about relocation. Bachelor thesis. Brno: Mendel university in Brno, 2018. This bachelor’s thesis engages in analysis of the impact of the United Kingdom leaving the European Union on financial institutions in the City of London. This thesis evaluates the contribution of the financial sector to the United Kingdom economy, scenarios of the future relationship between the United Kingdom and the European Union and the impact that Brexit will have on financial institutions in the City of London. The thesis also provides recommendations to managers and owners of financial institutions in the City of London regarding relocation.
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Proposal to Extend the Investment Portfolio of the Sector-focused Stock Hedge Fund
Beneš, Václav ; Galečka, Ondřej (referee) ; Rejnuš, Oldřich (advisor)
The bachelor thesis focuses on the design of an appropriate expansion of the investment portfolio of a hedge fund investing in shares of companies in selected sectors. It specifies the legal and theoretical aspects of the functioning of the hedge fund in the Czech Republic and analyzes the shares of the individual companies, which then compare and evaluate on the basis of predefined criteria. It includes a proposal to extend the investment portfolio, which contributes to raising the value and profits of the fund.
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More is Less: The Political Economy of the MiFID Revision
Mandić, Stefan ; Kudrna, Zdeněk (advisor) ; Schwarz, Jiří (referee)
The thesis titled "More is Less: The Political Economy of the MiFID Revision" aims to reveal to what extent different preferences of individual Member States on EU financial regulation affect the increase in complexity of financial legislative acts, concretely MiFID II. Using three theoretical building-blocks in a classical framework of political economy, we argue that divergence of member states is inherent to their different capitalist environments (Varieties of Capitalism). Aligning these differences with the common, harmonized regime can create costs and cause market disadvantages. Therefore, Member States try to push for as similar legislation to their own as possible, to minimize the costs. The result is a disproportionately long legislative act, that was crafted in a way to satisfy individual preferences of Member States, through discretionary provisions, exemptions and other. We also investigate how much harmonization the original MiFID established, asking if some provision became less complicated in MiFID II, owing to gradual convergence of Member State regimes.
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Impacts of the United Kingdom's withdrawal from the European Union to the financial sector
Bartošková, Karolína ; Ševčíková, Michaela (advisor) ; Řežábek, Pavel (referee)
The aim of the diploma thesis is to evaluate consequences of the United Kingdom withdrawal from the European Union to financial sector and provide different view of the issue than studied analysis carried out so far. The thesis proves the size, broad structure and unique position of the British financial sector in Europe and the world. Theoretical part focuses on the historical perspective, to the explanation of how the financial system works, last but not least to the crucial regulatory norms and sector participants. Based on real and specific data, practical part explains the scope of financial sector, its significance and analyses the UK role in the approval process of specific regulatory standards. Lobbying is denoted as an effective way of influencing standards towards national interests. In conclusion, thesis provides an overview of UK losses and benefits after Brexit, including a proposal for modification the practical operation of the financial system and pay attention to problematic areas. It is demonstrated that Britain for its scale of the financial sector has been long-term influencing European regulation of the sector and despite withdrawal from European Union likely remain a global financial centre.
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Systemic Risk in the European Financial and Energy Sector: Dynamic Factor Copula Approach
Nevrla, Matěj ; Baruník, Jozef (advisor) ; Buzková, Petra (referee)
In the thesis we perform analysis of systemic risk in the financial and energy sector in Europe. As the econometric tool for estimating dependencies across the subjects we employ factor copula model with GAS dynamics of Oh & Patton (2013b). We apply this model to daily CDS spreads. Based on the estimated results we perform Monte Carlo simulations in order to obtain future values of CDS spreads and measure probability of systemic events. We conclude that substantially higher systemic risk is present within the financial sector. We also find that the most systemic companies from both sectors come from Spain. JEL Classification C53, C55, C58, G17 Keywords Credit Default Swap, Energy Sector, Factor Copula, Financial Sector, Generalized Autore- gressive Score Model, Systemic Risk Author's e-mail matej.nevrla@gmail.com Supervisor's e-mail barunik@fsv.cuni.cz
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Financial Development and Economic Growth in China
Gerile, Naren ; Cahlík, Tomáš (advisor) ; Manchin, Miriam (referee)
OF MASTER THESIS The master thesis called Comparative analysis of George Bush Junior second term and Barack Obama second term foreign policy towards Iranian nuclear program till 2015 submits broader understanding of George W. Bush and Barack Obama presidency in terms of their Middle Eastern policy, concretely the issue of Iranian nuclear policy. The main interest lies in an intention to conclude which particular circumstances led American governments to rethink its position towards Iranian nuclear program, bearing in mind changes which took place in security, economic and foreign policy interests of the United States. Closer analysis of the economic sanctions, wars in Syria and Iraq, changes of the Iranian political elites, menace of Israelian air strikes against key iranian nuclear, industrial targets and main infrastructure capacities will create supporting arguments to answer the examined question: Which aspects in particular, and why led to the significant changes in the American foreign policy towards Iranian nuclear pogram during the last decade. Anotace diplomové práce Diplomová práce Komparativní analýza druhého prezidentského období George Bushe mladšího a druhého prezidentského období Baracka Obamy se zaměřením na problematiku Íránského jaderného programu do roku 2015 se zabývá širším...
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Linkages between financial sector and real output - empirical evidence from the Czech Republic
Tomis, Martin ; Geršl, Adam (advisor) ; Jakubík, Petr (referee)
This thesis studies various ways in which the financial sector may affect the real economy. Particular attention is devoted to the bank lending channel of monetary transmission which amplifies monetary policy through changes in the supply of bank loans. We analyze the theoretical foundations of this channel, review international empirical literature and identify characteristic features of Czech financial system. Due to the important role of bank loans in the Czech Republic and the limited availability of alternative sources of finance, we hypothesize that the channel should be operative in the Czech Republic. Using a VEC model we analyze aggregate data for 2001-2011. Impulse response functions are then used to identify responses of the lending rate and the amount of loans to a monetary shock. Based on these responses we conclude the bank lending channel was operative.
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Impact of the crisis on Economy of Great Britain
Popovych, Tamara ; Stuchlíková, Zuzana (advisor) ; Karpová, Eva (referee)
The thesis examines the influence of the financial and economic crisis on the economy of the United Kingdom. After a theoretical introduction to the financial and economic crises the impact of the crisis on the most important macroeconomic indicators is observed from the beginning of recession in 2008 until present. Final part of the work describes and analyzes the reaction of the British government and Central bank to alleviate the impact of the crisis on the real economy. It examines in detail two important issues, namely consolidation of public finances and restoring of British financial sector stability. With regard to economic development and current condition a possible future development of the British economy in the next few years is outlined.
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Factors affecting the return of women working in the financial sector to the labor market after their maternity leave.
Kratochvílová, Nikola ; Pavlíček, Tomáš (advisor) ; Beránková, Hana (referee)
This bachelor thesis is focused on the return of women working in the financial sectorto the labor market after their maternity leave. The aim is to find specific factors that can influence the return and the comparison with factors that are already described. For this thesis I have chosen a method of qualitative research, that brings us extensive information about nine respondents. We use the method of a questionnaire and semi-structured interview. Data are analyzed by using open coding. Furthermore we are looking for similarities and differences in the results of the questionnaire and interview. This research has brought the main aspects and problems of this group of women. Respondents consider their job as satisfying. The main problem in returning to the labor market is the lack of institutional care for children younger than three years, such as nurseries and kindergartens. Another problem in financial sector is the long career break, which the respondent avoided. They stayed in touch with the financial sector and their employers. These women see the problem solving in the establishment of kindergartens by their employers. The results of this study provide hypotheses for further research. The contribution of this work is a view to the return of a specific group of women to the labor market. These women could feel the impact of those factors differently because of their education and ambitions. Personal qualms, inability to hire a nanny and business opportunity are the newly identified factors.
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