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The subject of this work is to evaluate the efficiency of an investment project in an agricultural company. The intended investment is the construction of a biogas station. Two investment options are analysed. Because the company has a possibility to ask for drawing a subsidy from the Program of the countryside development, the first option is without drawing a subsidy, and the second option is with a subsidy. Evaluation of investment efficiency is carried out by static and dynamic methods. Then the impact of the project on the financial stability is rated using financial analysis. Based on performed calculations, though the option with the subsidy generates better results, it is detected that both variants are effective, and both reinforce stability of the company

The diploma thesis deals with stress testing as a specific tool which is used by European Banking Association for banking sector financial stability assessment. The main aim is to provide reader with analysis of EBA stress testing. Both the EBA methodology and 2016 results are analyzed in second part. Due to high costs spend on stress testing process I consider practical usage from the bank point of view as very important. This issue is discussed in fourth part of this thesis.

In reaction on existence of economic cycles, the period of economic growth is changed with the economic recession, which can grow in the crisis eventually. In such a case, the task of economic policy is to direct the economy in the right direction, back to the boom. The thesis focuses on monetary policy and its ability to achieve this task. The aim of the thesis is to analyze the influence of foreign exchange interventions used in the period of 2013-2017 on the restoration of financial and (macro)economic stability of the Czech Republic. For this purpose, time series of indices describing the stability, the financial stress index and the economic stress index are constructed. A comparative analysis proves that the financial and (macro)economic situation in the Czech Republic has started to stabilize shortly before the unilateral exchange rate commitment to the euro and the impact of foreign exchange interventions cannot be certainly confirmed.

This bachelor thesis deals with mortgage loans and risks of these instruments for financial stability. In the first part are defined mortgage loans and there is showed current situation on mortgage market. The second part explains systemic risk and financial stability. There is also analysed present Czech national bank´s policy in mortgage loans sphere and a new law. The last part contains research of factors which affect providing mortgages and estimation of final impact on financial stability. The conclusion summarizes obtained knowledge and tries to predict future state on mortgage market and real estate market.

Makroobezřetnostní politika je dynamicky se rozvjející oblastí činnosti centrálních bank. Zejména po tzv. finanční krizi z roku 2008 lze sledovat snahy o prohloubení makroobezřetnostní regulace a dohledu, přičemž do dnešního dne probíhají diskuze o možných nástrojích makroobezřetnostní politiky. V tomto příspěvku autor uvažuje o roli limitů LTV/LTI jako nástrojch makroobezřetnostní politiky. Makroobezřetnostní politika je dynamicky se rozvjející oblastí činnosti centrálních bank. Zejména po tzv. finanční krizi z roku 2008 lze sledovat snahy o prohloubení makroobezřetnostní regulace a dohledu, přičemž do dnešního dne probíhají diskuze o možných nástrojích makroobezřetnostní politiky. V tomto příspěvku autor uvažuje o roli limitů LTV/LTI jako nástrojch makroobezřetnostní politiky. Macroprudential policy is a rapidly developing area of the central banks’ activities. Following the so-called financial crises of 2008, we can identify general efforts to deepen the macroprudential regulation and supervision. These talks often aim at shaping possible instruments of macroprudential policy. In this paper, the author considers the role of LTV/LTI limits as macroprudential tools.

This master's thesis is focused on the issues of stress testing in the context of financial stability. It consists of two major parts. The first part deals with methodology of general stress tests with special regard to stressed indicators and relevant risks. In the second part, the difficulties and shortcomings of general stress tests are analysed with respect to the dynamic expansion of financial instruments and markets. A special attention is paid to integrate liquidity risk and contagion risk into the current stress testing framework. Furthermore, the alternative instruments for increasing the complexity of banks financial soundness analysis are presented. It can be said that the system of financial stability analysis before the crisis was not sufficient because it did not reflect on all risk exposures. The main contribution of this thesis is the organized presentation of possible solutions which would help to enhance the quality of stress testing outputs and to a certain extent unify these outputs as well.

The object of this bachelor thesis is the evaluation of the financial situation of the company TOS VARNSDORF a.s. through the financial analysis. This thesis consists of two part: methodical one and practical one. In the methodical part, there are determined methods and techniques of financial analysis, which are applied on the selected company in the practical part. The end of this thesis is donated to additional analysis and complex evaluation of the company situation in the analyzed period (2011-2014).

The thesis deals with the interaction of monetary and macroprudential policy, or with the compatibility of the objectives of these policies in the Czech Republic. The main attention is given to the use of interest rate instruments for the purpose of achieving financial stability during the accumulation phase of cyclical dimension of systemic risk. For this purpose the crucial item is the relationship of financial and price stability in the economy. On the Czech economy data is therefore tested the relationship between credit activity and asset prices, to be subsequently quantified the relationship between the prices of selected assets and consumer prices. The model results open the door to greater use of industrial producer price index for the coordination of monetary and macroprudential policy. The thesis for the same reason also recommends continuing research into the development of the general price level during the financial cycle.

The thesis focuses on the development of the South Korean financial system, especially on the period since the outbreak of the Asian financial crisis that hit Southeast Asia in 1997, to the present. The aim of this thesis is to describe and evaluate the measures taken to combat this crisis, identify remaining challenges and threats and evaluate the current financial sector stability.

At the end of the 90s the Czech credit union sector passed through the crisis what caused a number of amendments to the Act No. 87/1995 Coll., on Credit Unions. The last important adjustment to the Act on Credit Unions was an amendment of 2014. This bachelor thesis analyzes the current situation of credit union sector and the impact of changes in the legislative framework on the stability of the sector. The credit union sector accounts for only a small fraction of the Czech financial market, although it has developed favorably in recent years. This development was suspended by an amendment to the Act on Credit Unions of 2014, however stricter rules and a number of restrictions led to the strengthening of financial stability of the credit union sector. One of the consequences of the amendment is forthcoming transformation of the two largest credit unions into banks.

This bachelor's thesis is focused on financial analysis of the company Sapeli and it compares financial health between 2008 and 2012. The thesis is divided into four parts - introduction, theoretical part, practical part and conclusion. Introduction contains basic information about the work. The used methods and practices of financial analysis are summarized in the methodological section. This section is followed by the practical part, which contains calculated and commented ratio indicators and evaluation of value models and bankruptcy models. In conclusion of this bachelor's thesis are summed up results of financial analysis and proposed recommendations.

This thesis deals with stress testing of the banking sector. Stress tests are a set of analytical tools used to test the resilience and financial stability of the banking sector. At the beginning of the work financial stability and systemic risk impact not only in the form of sys-temically important financial institutions are discussed. Followed by a chapter on stress tests, which describes historic development of stress testing approaches to testing of individual banking risks and their implementation in the form of stress testing. Stress testing methodo-logy is described primarily from the perspective of the Czech National Bank, the importance of banking regulation and supervision in Basel III is also presented. In the final chapter of the thesis there are commented results of Czech National Bank's stress tests, and EU wide stress tests 2014, launched in cooperation with European Banking Authority, European Central Bank and the European Systemic Risk Board.

This paper examines models of supervision and regulation over the financial market and their impact on volatility of interest rates according to monetary policy changes. Its goal is to judge if some of these models aren't less effective and cause higher volatility and if the assumption of market stability is provided. It looks into monetary policy changes and their impact on financial market, interest rates and their development in time of these changes. It analyzes correlation of monetary policy and financial market and gives characteristics of each of regulation models. Using the method of graphical analysis, this paper compares reactions of short- and longterm interest rates (Treasury bills and 10years government yields) in relevant countries during monetary change applications. It examines also official offered rate and real interbank rate and its' spreads. As indicator of financial market stress is used Libor-OIS spread. It evaluates the influence of models used in different countries in each given situation.

This thesis deals with investment issues. The theoretical part deals with what the investment activity, what is the investment decision process, follow investment evaluation process and what methods can be used. Also there are the sources from which is posible finance investment and finally there is the risk, that accompannies each investment. The practical part is analyze effectiveness of the investment project, implemented by a real company. In conclusion, the values and the findings are summarized and evaluated.

The main objective of this work is to perform inter-company comparison of five banking institutions using the single - and multi-criterial criterial methods in the period before and after the Global financial krizi.Na main objective ties secondary objective, which is concerned with the financial stability of the financial sector in the Czech Republic on the basis the results of stress tests performed by the Czech national Bank.

Title: The Czech National Bank, its legal status and scope of activities Abstract The aim of this thesis is to analyze the current status of legislation of the Czech National Bank, its content operations and powers with regard to the historical development of this institution, focusing on the banknotes and coins, monetary policy, financial stability, financial market supervision and possible impacts of euro adoption in the Czech Republic. The first part of the thesis will be devoted to the historical development and fundamental characteristics of the Czech National Bank as the central bank and its organizational structure, management and independence will be determined as well as the objectives pursued. The following chapters will deal with particular areas of activities which the Czech National Bank practices in accordance to its primary objective. More detailed focus in the thesis is on the emission function, the conduct of monetary policy and its instruments, analysis of financial stability and supervision of individual financial market segments. The last part of the thesis will be devoted to the issue of adopting the common European currency in the Czech Republic and to the changes which would be connected to that currency adoption. Keywords Czech national bank, central banking, monetary policy,...

The subject of the presented thesis is the relationship between monetary policy executed within inflation targeting, asset prices and financial stability in the broader sense in order to identify key problems of the current approach and draw some conclusions on how inflation targeting could possibly further evolve. Flexible inflation targeting remained the best available monetary policy framework, despite some revisions are apparently needed. It turned out, that changes in the financial sector have much greater impact on economic activity, than previously thought, and which the new approach will need to take into account.

This thesis deals with the default of households as one of the indicators of financial stability in the Czech Republic. Specifically, it studies increasing indeptedness of households and risks which endanger financial system. The aim is to analyze the main macroeconomic and microeconomic factors that affect households default and to determine their dependence on the non-performing loans. The conclusion summarizes the results of the thesis and suggests recommendations for central and commercial banks.

This bachelor thesis is about stress testing of banking system, which is one of the most important tools used for assessing financial stability. Two international institutions, IMF and EU, run stress tests and this thesis describes and contrasts both methods of these institutions. Besides it points out EU-wide stress testing exercise form years 2009, 2011 and 2011 that were criticized for insufficient severity. In addition, thesis describes how financial markets reacted to the results.

In this paper I will answer the question of establishing a common economic policy. Whether the integration of member countries is good for them and under what conditions. The first chapter briefly describes the evolution of the EU, is also devoted to its institutions and coordinated policies. The next section deals with the monetary union and finally a common economic policy.

The financial crisis is a phenomenon that affected almost the whole world in 2008. This thesis deals with issues of the financial crisis in the Czech Republic. The thesis is divided into several parts. In the first part the financial crisis, its causes, and its course till affecting the Czech Republic is characterized. Furthermore, I assess the impact of the crises on the Czech economy and its development in 2008. In the next part I evaluate the impact of the crisis on the Czech investors in 2008 and I focus on the scope of the Czech National Bank. In the last part I think about solving financial crisis and I think about it, whether the financial crisis has a positive impact on the economy of the State.

The aim of this bachelor´s work was taking advantage of benchmarking methods in financial analysis, their application on concrete company, analysis of the situation of the chosen company in branch and control of the company efficiency. The practical part deals with the database of 54 agricultural companies from the South Bohemia. To analysis was chosen company that will be called XY for purposes of this work. For each company were calculated most important indices for each year that reflect about company economy the most. In conclusion all findings are reviewed, commented and changes that could be good for future development of company are proposed.

The sence of the analysis is to inform about the progress in the company Hardman, spol. s.r.o. between 2003 and 2008, about positives and negatives, strenghts and trends. Used methods are NWC analysis, index analysis, Du Pont, ratio analysis and INFA.

This thesis deals with questions of financial stability in financial systems, monitoring, analyzing and assessment of financial stability from views of various national and international financial institutions. Enhanced attention is paid to the role of central bank in the area of financial stability. Central bank plays significant role in practice of monetary policy, regulation and supervision, prevention of financial instability and financial crisis solution. In this work is also mentioned Financial stability report issued by Czech National Bank and various reports issued by international institutions (e.g. BIS, ECB, IMF). These international institutions exercise activities to the support of financial stability. Thesis deals closely with instruments of assessment of financial stability. These instruments are indicators of financial stability and stress tests.

The purpose of this thesis is to offer a contemporary overlook on the widely discussed and problematic topic of bankong crises. This analysis gives a list of banking crises which have ocurred since the 90s. up to now, their causes and definitions, and explains some important macro- and microeconomic reasons for their occurrence.It also shows how current economic theory describes the causes and nature of financial instability, with emphasis on its real effects and high economic, as well as social costs. Based on these findings, this paper offers possible resolutions of problems of the financial system and methods of its stabilization with the aim to prevent future crises. A separate chapter is dedicated to the crises in Argentina 2001, the nordic countries in the late 80s/early 90s, and the Czech republic during its transition period.

This bachelor thesis is supposed to evaluace financial stability in terms of the Czech Republic. To evaluace financial stability, I adopted three criterions from the economist Frederic S. Mishkin, which are in correspondence with financial stability's assumptions of the Czech national bank. These criterions are 1. the price stability, 2. the coordination of monetary and fiscal policy and 3. the bank sector supervision. I use tools of regression analysis as well as datas international comparison. I evaluate all three assumptions gradually and consecutively I draw a conclusion about financial stability of the czech economy based on the criterions' state of fulfilment.

The aim of this diploma thesis is to deal with the most used methods of financial analysis and carry out their practical application to accounting data of a real company. The first part gives the outline of information resources and fundamental instruments (techniques) of financial analysis. First of all it focuses on horizontal and vertical analysis of financial statements and analysis of ratio indicators. In the second part the acquired theoretical knowledge from the area of financial analysis is used to assess financial health of a particular factory company, which is Spojené kartáčovny, Inc. The evaluation of this company goes entirely out of the results gained by elaboration of publicly available data.

This diploma thesis deals with the acquisition of companies by means of the Leveraged Buyout (LBO) method. This method differs in many respects from the standards M&A. This work examines the specific features of the given business transactions from the viewpoint of the target companies, procedures and entities involved in these transactions. As the key element of the LBO method is the debt financing of the acquisition, the work also deals with this aspect and evaluates the positions of the creditors from the viewpoint of the influence on the stability of the financial system. The thesis further analyses the question whether the LBO method has an effect leading to an increased effectiveness of processes in a company, or whether, conversely, the proceeds of acquisition investors are a consequence of a transfer of values from other entities. The text is based on available theoretical and empirical sources which are supplemented by the author's analyses.

The aim of this final thesis is to evaluate the economic efficiency of the realisation of a shopping center project. We can devide this work into two parts. The first one is concerning the theoretical explanation of an investment project, its financial aspects and the criteria for evaluating its economic efficiency. The second part focuses on the evaluation of the Tilla shopping center project according to the previous theoretical description. This evaluation is made by the net present value, the index of rentanility and the internal rate of return. In addition to the previous criteria there are the financial stability and the economic value added calculated to obtain a global view of this investment project.