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Vliv devizového rizika na výkonnost firem
Kučerová, Aneta
The aim of this bachelor thesis is evaluation of the foreign exchange risk influence on the performance of firms that are part of the European Union that don’t have euro as their national currency and face this risk throughout running their international business. Within analysis was used multiple regression method. Results of the analysis are compared with other works that studied this issue and based on conclusions are formulated recommendation towards firm management area.
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Possibilities and Methods of Exchange Rate Risk Management
Cheuzova, Olga ; Brůna, Karel (advisor) ; Marková, Jana (referee)
The subject of this bachelor thesis Possibilities and Methods of Exchange Rate Risk Management is to understand how the exchange rate risk arises and how it can be managed, analysis of methods and options of exchange rate risk management and determination of exchange rate risk by the international stock company Orco Property Group S.A. which eliminates the unfavorable impacts of the development of individual of the functional currencies of the subsidiaries on the consolidated balance sheet. The first part focuses on the understanding of the course risk management process from a theoretical point of view. The second part introduces Orco, its financial analysis, analysis of its foreign exchange exposure and currency risk management.
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Foreign exchange risk management in an international company
Zágorová, Lucie ; Čajka, Radek (advisor) ; Donát, Jiří (referee)
The growth of the international business offers the chance for companies to enter new markets in order to increase their revenues. The transactions in foreign currencies are influenced by the impacts of the volatility of the exchange rates in the sense that an unfavorable evolution of the exchange rates can result in a considerable loss. The main aim of this thesis is to analyze the process, the strategy and the overall importance of the management of the foreign exchange risk in the context of an international company. The theoretical part introduces foreign exchange rates, three types of the foreign exchange risks and it further focuses on the basic techniques used for measuring the risk and the methods for its management. The practical part focuses not only on the foreign exchange risk management for the company's global level, but also on providing a detailed analysis of the foreign exchange impact on its three subsidiaries.
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The effect of exchange rate on business activities of a specific company
Baghdasarjan, Hasmik ; Jiránková, Martina (advisor) ; Žamberský, Pavel (referee)
The thesis is focused on the management of exchange rate risk in international trade. The work is divided into theoretical and practical part. The first part deals with the theories of the exchange rate, exchange rate risk and also on its management. The most common way of risk hedging is the use of currency derivatives. Therefore their advantages and disadvantages will be presented. In the practical part, theoretical knowledge will be applied to foreign exchange risk management of a specific Czech international trading company. After evaluating of its current approach, more effective hedging strategy will be suggested.
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Foreign exchange risk and its management methods in PEGAS NONWOWENS
Nikodem, David ; Brůna, Karel (advisor) ; Pour, Jiří (referee)
The aim of this thesis is to introduce the reader to the theory of foreign exchange risk, its measurement and finally its management methods, using the example company of PEGAS NONWOWENS. Foreign exchange risk is a serious issue in this day and age, that is concerning every company, directly or indirectly active in international trade. The first part is going to introduce the terms of foreign exchange risk, exposure and position. The second part covers various foreign exchange risk measurement options. The main part of the theoretical section of the thesis deals with the most commonly used methods of foreign exchange risk management. The last and most important part of the thesis uses the theoretical basis established in the first three chapters to analyze the methods of foreign exchange risk management used by a real world company PEGAS NONWOWENS.
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Management of Foreign Exchange Risk in International Trade on Example of Company Okula Nýrko, a.s.
Kunert, Pavel ; Taušer, Josef (advisor) ; Křivánek, Lubomír (referee)
The Master's thesis deals with management of the foreign exchange risk in international trade. Initially the essential theoretical framework is introduced and then applied on the real situation of a Czech internationally trading company. The first chapter explains individual types of foreign exchange exposure, principal foreign exchange forecasting methods and foreign exchange risk evaluation methods. The second chapter deals with internal techniques of lowering foreign exchange exposure and external hedging tools. In the third chapter the improvement recommendations are stated based on an analysis of company's foreign currency denominated cash flow, subsequent evaluation of its foreign exchange position and assessment of its current approach to foreign exchange risk.
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Foreign exchange exposure and currency risk
NOVÁKOVÁ, Ilona
Thesis "Foreign exchange exposure and currency risk" deals with managing foreign currency exposure and foreign exchange risks when doing business in The Czech Republic. It defines foreign exchange risk, different types of foreign exchange exposures and the possibility of its ensuring, as well as internal and external methods of reducing foreign exchange exposure and foreign exchange risk. The practical part is devoted to a particular solution, respectively to the management of foreign exchange exposure and foreign currency risk in ABC, s.r.o. company.
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Riadenie devízového rizika v spoločnosti zaoberajúcej sa sofwarovým vývojom – prípadová štúdia spoločnosti FFastFill plc
Zeľo, Tomáš ; Durčáková, Jaroslava (advisor) ; Doležal, Jiří (referee)
This master thesis discusses the field of foreign exchange risk management and assesses efficiency of this type of risk management within FFastFill plc. The thesis contains two major parts. The first part, which contains the first and the second chapter, focuses on theoretical characteristics of foreign exchange market and sequentially defines the terms of foreign exchange exposure and foreign exchange risk. This part of thesis discusses hedging strategies and matters that are related to the selection of optimal hedging strategy. The second part of thesis contains the third and the fourth chapter. This part analyses the company from various perspectives and consequently analyses and quantifies the magnitude of company's translation and transaction exposure. The aim of this analysis is to assess company's current hedging strategy and to propose the optimal hedging strategy.
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Internal exchange rate risk management techniques with application to import-oriented company
Malý, Jan ; Brůna, Karel (advisor) ; Čermáková, Daniela (referee)
The work is focused on exchange rate risk, its description and typical situations in which firms have to face to the uncertainty caused by variability of exchange rates. It specifies selected internal (operational) techniques which are used to manage exchange rate risk as well. These methods are connected with financial management of companies and it is possible to apply these techniques to every size of company. The principle and the implementation of internal methods might be tighter to smaller companies. These companies do not know a lot about a wide scale of instruments of financial market, so hedging through external methods may not be suitable. Internal methods contrary to external are also suitable for hedging economic exposure (substantial part of the work is focused on economic exposure). In response to current events, exchange rate risk is also discussed in connection with continuing economic depression and pending fiscal situation of the countries which are part of euro area. In analytic part the work is focused on a Czech import-oriented firm which purchases machines from Taiwanese suppliers for euro and dollars and consequently sells these goods in the Czech market mostly in Czech koruna. In some cases the firm negotiates invoicing in euro. Currency mismatch of receipts and payments gives rise to exchange rate risk. In addition, firm's business contracts are specific to high nominal value and longer maturity. With the growth of these two parameters increases exchange rate risk.
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Methods of hedging currency risks with application to small and medium enterprise
Hrbáček, Tomáš ; Brůna, Karel (advisor) ; Blaheta, Petr (referee)
The bachelor thesis is primary focused on methods and possibilities of hedging currency risks, whereas in the second part this risks are specificated to currency risks of small and medium enterprises. The thesis follows theoretical separation of foreign exchange exposures to transaction exposure and economic exposure. The translation exposure is not mentioned, because is irrelevant in sector of small and medium enterprises. The thesis contains the outline of possible hedging methods of transaction exposure (external, internal methods) and economic exposure. Analysed subjects in second part are two czech companies from sector of SME, which were established in 1995 and are exporting to foreign countries. The first company deals with firewood, produces and completes clapboard's roof, the second produces blankets, pillows and fillings for sofas. The analysis targets the historical process of competitiveness in background of czech crown's appreciation, exactly to economic exposure. The companies are not hedging their transaction exposures. Finally, the thesis evaluates actual situation of foreign currency exposure and suggests possible solutions, e.g. establishing a new office in abroad.
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