Academic literature on the topic 'Míra rizika'

Teorie tzv. nových sociálních rizik otevírají kritickou diskusi schopnosti moderních systémů sociální politiky sloužit v postindustriální společnosti jako nástroj ochrany před chudobou a sociálním vyloučením. Život v postmoderní společnosti sebou nese tzv. nová sociální rizika, která souvisejí se změnou výrobních procesů a organizace práce, s globalizací výroby a také s masovým vstupem žen na trh práce. Postavení žen na pracovním trhu závisí na fungujícím systému programů a služeb, který umožňuje kombinaci práce a rodinného života. Pokud nejsou vhodná opatření sociálního státu dostupná, rodičovství s malými dětmi se stává možným rizikovým faktorem vzniku chudoby. V tomto textu je řešena otázka, do jaké míry se převládající socio-kulturní konstrukty kvalitní péče, ideály péče, jak je definuje Monique Kremer, podílejí na reprodukci sociálních rizik spojených s rodičovstvím. Z analýzy politik péče v České republice vyplývá, že opatření rodinné politiky zaměřené na rodiny s dětmi do tří let reprodukují ideál mateřské péče na plný úvazek. Volby, které politiky umožňují, snižují šance žen s malými dětmi na trhu práce. Tím je výrazně ohrožena ekonomická situace rodin s dětmi, zvláště pak rodiny matek-samoživitelek. Přes objektivní socio-ekonomické tlaky, které ohrožují rizikem ekonomické marginalizace rodiny s dětmi, je v rámci opatření české rodinné politiky konzervován tradiční genderový řád.

Cílem prezentované studie bylo zjistit, jaké jsou pohledy aktérů vzdělávací­ho procesu na distanční výuku, která byla plošně zavedena ve spojitosti s epidemií ko­ronaviru. Za tímto účelem byl připraven vlastní dotazník, který byl následně distribu­ován učitelům, rodičům a žákům vybrané základní školy v Jihočeském kraji. Celkem bylo od všech skupin respondentů prostřednictvím Google Forms získáno 522 do­tazníků (29 od učitelů, 255 od rodičů a 238 od žáků). Bylo zjišťováno, jakým způso­bem je zajištěna komunikace mezi jednotlivými skupinami respondentů, kolik času jim zabere příprava, plnění a kontrola zadaných úkolů, které předměty vnímají žáci jako nejobtížnější, ale zjišťován byl i subjektivní pohled všech skupin respondentů na distanční výuku. Ukázalo se, že na sledované škole bylo díky technickému zajištění zapojení žáků kompletní. Problémem však byla míra jejich zapojení a celková aktivita v distanční výuce. Učitelé pro komunikaci se žáky i rodiči používali různé platfor­my a aplikace, což se pro dlouhodobější řešení distanční výuky jeví jako nevhodné. Jako další riziko pro úspěšnou realizaci distanční výuky se jednoznačně jeví absence metodické podpory pro rodiče žáků. Ačkoliv vzhledem k náhlosti situace spolupráce na dané škole probíhala téměř bez obtíží, realizovaná sonda odkrývá oblasti, na které by se mohl zaměřit další pedagogický výzkum.

The theory of risk: definition, types, measurement and valuation of risk. Discount rate, valuation of risk when calculating the discount rate. Method to determine the discount rate (determining the cost of foreign capital, CAPM and modular method to determine the cost of equity. Application in Vietnam.

The thesis deals with the valuation of the chosen company using the yield discounted cash flow method. In the first part of this thesis explains the theoretical basis that relate to the issue of valuation. These theoretical findings are further applied in the analytical and practical. The analytical part contains the characteristics of the company and developing a strategic and financial analysis. In the practical parts is financial plan prepared in two variants - pessimistic and optimistic. Practical uses of the results of the analysis on the basis of the selected company awarded the yield discounted cash flows as of the date 1. 1. 2013.

The diploma thesis deals with a valuation of a company for a selling purpose by using the discounted cash flow method with an entity approach. Initially the theoretical basis gets defined. Afterwards the theoretical findings are applied in the practical part, which consists of a strategic and a financial analysis ending up in a financial plan. In the following the value of the company gets calculated and finally a range from a pessimistic to an optimistic company value results.

This thesis deals with methods of stochastic programming and their application in financial investment. Theoretical part is devoted to basic terms of mathematical optimization, stochastic programming and decision making under uncertainty. Furter, there are introduced basic principles of modern portfolio theory, substantial part is devoted to risk measurement techniques in the context of investment, mostly to the methods Value at Risk and Expected shortfall. Practical part aims to creation of optimization models with an emphasis to minimize investment risk. Created models deal with real data and they are solved in optimization software GAMS.

This thesis is focused on a theoretical explanation of some models for the optimization stock portfolios with different risk measure. The theory of the nonlinear programming is detailed developed and also basic Markowitz`s model with another optimization models as Konno -- Yamazaki`s model, Roy`s model, semivariance approach and Value at Risk approach, which are based on alternative risk measure. For all models the assumptions of their applications are highlighted and the comparation of these models is made too. Analytical part is concerned in the construction of the effecient portfolios according to the described models is made on the historical market prices of 13 companies traded on Prague Stock Exchange in SPAD.

The global financial crisis of 2008, which forced the central banks around the world to defend a financial stability by using non-standard instruments such as quantitative easing, has resulted in, among other things, the fall of the interest rates to zero, and even to negative values in some countries, which has become the new normal in banking field. In this thesis, we focused on the Czech financial market, and we used the method of Monte Carlo simulation in the Vasicek model for the prediction of the future development of interest rates, both short and long maturities. The model shows that in the short term the rates may fall to negative values, but the prediction shows rising interest rates up to their own equilibrium. The 3-months and 6-months rates show surprisingly uncharacteristic behavior, where their long-term decline and higher volatility caused calculation of the equilibrium as a negative value in the Vasicek model. Than we apply the results in the model for calculating changes in the prices of bonds, which are negatively correlated with the interest rates, and we explore the repricing costs for the bondholders. Also, we will show that commercial banks may control the impact of the interest rate risk on capital by composition of financial assets in various categories, where the accounting classification of the instrument is critical to revaluation of the capital.

The dissertation thesis deals with valuation of individual items in the economic balance sheet of a stand-alone company and subsequently as a part of acquisition. We define the economic balance sheet as a full set of assets, liabilities as well as synergies amongst the assets (stand-alone company view) and companies (transaction view), where the sum of their individual valuations has to equal to the overall value of the company. Hence we suggest that the management (and a valuer) should be able to decompose the company value into defined and controllable value components. Apart from identifying optimal methods for the individual valuation, the key for achieving this task is the internal (amongst the assets) as well as the overall consistency (vis-a-vis the overall company value). Compared to the overall-valuation approach, we demonstrate how the component approach can lead to more precise results, higher management discipline and accountability, and can serve as a tool for an a priori identification of overpayment as well as an instrument for controlling the value post transaction. We defined two primary types of synergies in terms of valuation approach - Enhancement, improving current income potential and Future opportunities, mainly focusing on new projects - and proposed appropriate valuation approaches given their specifics. Since a large proportion of valuations on individual level is based on the income approach, setting a clear and consistent approach to discount rates was a vital part of the work. We propose a primary and, if not available, second-best rate for each component of the economic balance sheet. Although the synergies are probably of the highest commercial interest, the liabilities with external source of risk and deferred taxes on the individual level are areas generally neglected both by academics and practitioners. While the first one will have only but crucial impact on companies with decommissioning and similar liabilities, the latter is present almost in any itemized valuation, and its incorrect or purely isolated application affects the overall result and breaks the link to the overall company value. We analyze both topics and offer consistent valuation methods, although further research is required to refine them. We discuss WARA as one of the key tools for ensuring consistency of itemized valuation of the economic balance sheet. Lacking any theoretical background and interest from academic researchers, we first analyze simple concepts of the tool as they are used in practice and point out observed conceptual errors, oversimplifications and accounting-only approach. Not only that we propose complex consistent rules for WARA construction but we extend the concept from the focus on conventionally defined net assets to the full economic balance sheet, which is the only way how to relate the itemized valuation to the overall company valuation. Finally, we presented a case study based on real-life example which demonstrated practical applicability of proposed partial solutions as well as the overall approach to achieving consistency with the total company or transaction valuation. Although the analysis of individual items of the economic balance will be inevitably based on subjective assumptions to an extent, we have shown that proposed complex and consistent approach adds value to the strategic and transaction considerations. Also the preciseness of the tools will increase with the number of transactions performed as the parameters get calibrated.

Master´s thesis deals with the evaluation of economic efficiency and risk analysis of change of two investment projects conducted in company Lucidum Millennio s. r. o. The thesis is divided into three main parts, which are theory, analysis and proposal. The theoretical part specifies the essential knowledge needed to evaluate the economic efficiency of investment. Analytical part is focused on the evaluation of the financial health of the company (strategic and financial analyses). The proposal is concerned with the introduction of investments, evaluating the economic efficiency of construction of the new production plan and analysing risks related to diesel generator.

The main intention of this thesis is to provide theoretical and practical insight on commodity markets, specifically on gold and silver markets. The introductory section defines the basic characteristics and relationships between commodity and financial markets.The second section describes in detail the fundamentals of commodity markets. From a view on history, definition and distribution of basic commodities, it specifies the largest operators organizing trade with commodities. The last sub chapter of the second section is a description of the most popular ways of investing in commodities. In the third section, the content of the work reaches its core -- an analysis of the gold market. The first chapter of this section gives a picture of the general determinants of demand, supply and price of gold. The following analytical chapter discusses these essential characteristics from a dynamic perspective -- the development over time. Based on the dependencies and calculations, the work analyzes the rate of return and risk of gold and compares them with alternative investments. Final passage of the third section brings the specific investment opportunities in gold. In particular, for their inclusion in the core group of precious metals, as in the case of gold, the fourth section is devoted to the definition a marginal nature of the silver market.

Diploma thesis focuses on the issue of an appropriate selection of securities and the subsequent establishment of a portfolio of these securities. Follow detailed discussion about analysis of portfolio and investor’s preferences. Below is a description of the CAPM model, its assumptions and usage of this model to build a portfolio. Then there is the actual calculation of characteristics of securities traded on the Prague Stock Exchange and on the basis of these calculations is made the proposal of several portfolios and their evaluation.