|
|
Hedging Interest Rare Risk by the Use Financial Derivatives
Hofmanová, Aneta ; Jonášek, Martin (referee) ; Rejnuš, Oldřich (advisor)
Bachelor thesis focuses on hedging interest rate risk by the use financial derivatives. The theoretical part characterizes financial derivatives, their division and description of each type of derivatives. In an analytical part is monitored development of interest rates in the Czech Republic, followed is analyzed the offer of Czech banks and their subsequent comparison. In the last part is suggested recommendations for company management.
|
|
|
MV Overhead Line Protections and their Coordination with Autoreclosers
Šoustal, Petr ; Skala, Petr (referee) ; Orságová, Jaroslava (advisor)
The aim of this Master’s Thesis is to describe protections for overhead lines in distribution networks. Here are described requirements for the protection and the basic protections. Protections are divided according to their protective function. For each protection is given its use and its power plans. It is stated in the work setting of protection in the real network. On this network is simulated place with short-circuit and described the action of protection. The work also deals with the coordination of protection with automatic circuit breakers. This chapter shows that, given the selectivity is not possible to deploy two or more reclosers (remotely-operated switches) to the core network management. The next chapter describes two representatives reclosers available on the Czech market OSM 27 and GVR 27. Chapter describes and compares their performance characteristics. Conclusion the work includes a proposal protected the lead in incorporating automatic circuit breakers (remotely operated circuit breakers and reclosers). The proposal is based on two different levels of annual number of interruptions and duration of annual general interruption of electricity supply. For these levels the company EGÚ Brno, a.s. proposed several variants of the use of remote-controlled in terms of reducing the cost of the penalty. Our task was to choose a variant that would be applicable in the real network. Reducing costs is feasible only in the limits Ln = 6 failures / year and Lt = 720 min / year, where the selected option No. 4. The limits Ln = 8 failures / year and Lt = 1,080 min / year, not in the real network may no option in terms of selectivity.
|
|
|
Facilities for Exchange Rates Risk Reduction in the Company FLÍDR, s.r.o.
Flídrová, Kristýna ; Polák, Josef (referee) ; Beranová, Michaela (advisor)
Master´s thesis deals with possibilities of exchange rates risk reduction in the company FLÍDR, s.r.o. Exchange rate volatility has begun to be a serious problem of many business entities. Unfortunately, the Czech Republic will not join Economic and Monetary Union of the European Union for longer time. The outcome of Master´s thesis is the suggestion of utilization of financial derivatives and proposal of new financial derivatives. Proposed financial derivatives are composed to minimize exchange rate risk in the company FLÍDR, s.r.o., and to minimize losses caused by exchange rate volatility of Euro currency.
|
|
| |
|
|
Financial Derivatives in Praxis
Dalekorejová, Petra ; Sedlák, Petr (referee) ; Sojka, Zdeněk (advisor)
The subject of the Master thesis „Financial Derivatives in Praxis“ is the analysis of the all kinds of financial derivates.The first part of the thesis deals with the general description of the derivates. In the next part of the thesis analysis of individual spices of derivates and their dividing into interest rate derivates and currency derivates is made. The final, practical part of the thesis, is devoted to the practical using of derivates in the hedging interest rate and currency risk on specific examples of companies and the offer of hedging on the Czech financial market.
|
|
|
The Currency Exchange Effect on the Financial Situation of the Company
Česalová, Iveta ; Burget, Jaroslav (referee) ; Rompotl, Jaroslav (advisor)
This work deals with the currency exchange effects on the financial situation of the company, whose incomes are made up of exports in particular. The theoretical part is aimed at the definition of basic concepts such as currency, exchange rate, currency risk, appreciation and terminology of the financial analysis. The second part deals with the theory of financial derivatives market. The practical part is concentrated on the financial analysis of selected company and its change because of the fluctuation rate of the Czech crown. In the last section provides suggestions for improvement of protection against foreign exchange risk.
|
|
|
Mathematical Methods in Economics
Florescu, Chiril ; Budík, Jan (referee) ; Novotná, Veronika (advisor)
The bachelor’s thesis deals with the problem of option trading and its advanced strategies applied to financial markets using algorithmic trading. The theoretical part includes the basic concept of the financial market, a detailed characterization of the investment instrument with its boundary properties, and an overview of algo-trading. In the following section, the implementation and analysis of combined option positions on underlying assets such as equities and exchange-traded funds using beta-weighted deltas are discussed. The result of the work is the design of a trading strategy, backtesting on historical data and optimization of individual parameters for higher efficiency.
|
|
|
Estimation of risk-neutral probability density functions from option prices
Krejčí, Kateřina ; Málek, Jiří (advisor) ; Diviš, Martin (referee)
The thesis deals with the estimation of risk-neutral probability density functions from option prices. It focuses on smoothing techniques that are applied to volatility smile. Theoretical part describes the estimation principle and presents some solutions for problems that occur while estimating the risk-neutral distribution. The findings from the theoretical part are used in the practical part and applied to real data. An analysis of the influence of the selection of particular smoothing function on the final distribution is performed. At the end of the thesis a stability test of estimations is performed and the analysis of dynamics of risk neutral distribution is shown on a small data sample.
|
|
|
Hedging of currency risk of manufacturing company
Fomina, Elena ; Čajka, Radek (advisor) ; Jurek, Martin (referee)
This thesis has an aim to create a hedging strategy for currency risks for exporting company. The main reason for hedging are possible losses that can be triggered by changes in exchange rate. In the case of exchange rate changes exporting company may face three different types of exposure: transaction, translation and economic exposure. This thesis concentrates on transaction exposure and builds a hedging strategy for exporting company AAA a.s. This firm is analyzed from qualitative side as well as from quantitative which is presented in the form of historical overview of the company and its position in international group. Based on this analysis as well as on theoretical findings, the hedging strategy for AAA a.s. was proposed. This strategy uses external and internal means of hedging.
|
|
|
Regulation of Derivatives Contracts
Růžek, Lukáš ; Husták, Zdeněk (advisor) ; Galuška, Jiří (referee)
This diploma thesis deals with the legal regulation of derivatives contracts with respect to their economic nature. It provides a detailed view on the legislation regulating derivatives contracts in the legal order of the Czech Republic. Considering the interconnection of local derivatives markets, this diploma thesis pays attention to the legal regulation and standardization of derivatives contracts in foreign countries and at the international level. The first part of this thesis describes basic features of derivatives and proposes their typology. The aim of the following part is to evaluate the contemporary legal regulation of derivatives contracts in the Czech Republic. The rest of this thesis elaborates on foreign and international legal regulation of derivatives contracts. The main goal of this diploma thesis is to evaluate present the state of the regulation of derivatives contracts in the Czech Republic, asses to what degree it reflects their economic nature, and eventually, propose legal changes.
|
guest ::
