市場自律是保險市場監管的重要部分之一，可有效提高監管效率，保障整個保險業持續健康發展。在大陸第二代償付能力監管體系下, 已正式將建設市場自律機制提上日程，以充分發揮市場自律之作用。所以目前大陸保險市場是否存在市場自律是個值得研究的議題。 本研究以2010年至2015年間大陸產壽險公司數據為樣本，通過分析償付能力充足率、保險投訴等变数與保費收入、退保率間的關係，來衡量大陸保險業是否存在市場自律。實證結果發現各变数對保費收入有一定影響，對退保率無明顯影響，且關於風險變動對保險需求變動影響之結果最不理想，即消費者對風險變動狀況的敏感性並不高，表明大陸存在一定程度的市場自律，但作用較弱。 / Market discipline is one of the important parts of insurance supervision, which can effectively improve the efficiency of supervision and guarantee the sustained and healthy development of the insurance industry. Under the China Risk Oriented Solvency System, the construction of market discipline has been formally put on the agenda to give full play to it. Therefore, the existence of market discipline in China’s insurance market is a topic worthy of study. In this study, to measure the existence of the market discipline, we use the data of the property and life insurance companies from 2010 to 2015 to analyze the relationship between the solvency margin ratio, insurance complaints, etc. and the premium income and termination rate. The empirical results show that those explanatory variables have a certain influence on the premium income, but do not have significant effect on the termination rate. Additionally, the result regarding the impact of a change in risk on the insurance demand is not as predicted, namely insurance consumers are not sensitive to the change of risk. The empirical findings indicate that the insurance market of China has a certain degree of market discipline, but the effect is not very significant.

The aim of this work is the analysis of factors, which influence price of insurance companies' stock. This work firstly contents definition of basic differences in the space, which insurance company does business in and regular manufacturing plant or sales company. Emphasis is put on controlling risks and regulation of insurance companies. The main part of work is fundamental analysis of 3 european insurance companies. The analysis of each macroeconomics quantity and the stock rate uses correlative coefficients. This work researchs, whether in case of relationship of progress of stock rates and quantities of economics holds regular conclusion, which are described in literature of economics or whether not. Whole fundamental analysis further complete sectoral analysis with development of main characteristics of european insurance market and companies' analysis, where are different proportion indicatiors compared.

The objective of this thesis is to conduct a financial analysis of the company TŘINECKÉ ŽELEZÁRNY, a.s. Initial theoretical and methodological part is given to the description of elementary methods used in financial analysis, such as absolute, differential and financial ratios, bankruptcy and solvency models, Economic Value Added and spider diagram. Consequently, in practical-analytical part, these methods are applied on the data of the selected company from period 2005 to 2011. This thesis includes an outline to the differences between Czech accounting legislation and IFRS that have an impact on the explanatory power of financial analysis.

This thesis deals with the provision of credit supply, especially the risk associated with their delivery. The key part of this work is a model that evaluates the level of supply risk using fuzzy logic. Model evaluation of the supply risk is introduced to selected customers selected companies.

The master’s thesis deals with the topic of the use of artificial intelligence for managerial decision making in the firm. This thesis contains proposal of model of fuzzy logic in MS Excel and MATLAB for evaluation of the client’s solvency of bank for the purposes of loan providing.

Svenska livbolag har varit en av de större kapitalplacerarna på den svenska fastighetsmarknaden under de senaste fem åren. Livbolagen förvaltar kapital åt sina försäkringstagare som förväntar sig få utbetalningar antingen genom en traditionell försäkring, där livbolagen utlovar en bestämd avkastning per år eller genom att erbjuda fondförsäkringar. Den traditionella livförsäkringen inbringar stora summor premier som måste investeras i olika tillgångsslag. Placeringstillgångarna kommer att bli underställda det nya Solvens II direktivet som innebär att livbolagen måste anpassa sina tillgångar efter sina åtaganden. Syftet med den här rapporten är att utreda vilka effekter Solvens II direktivet kan tänkas ha på de svenska livbolagen och hur livbolagen kan komma att förändra sina portföljeallokeringar till följd av det nya regelverket. Rapporten avgränsas till livbolagens fastighetsrelaterade tillgångar och kommer primärt behandla effekten av ett riskbaserat kapitalkrav på olika fastighetsexponeringarna. Avslutningsvis diskuteras ifall livbolagens agerande till följd av direktivet kan komma att påverka fastighetsmarknaden. Utredningen kring förslaget har pågått sedan 2006 och implementeringen förväntas ske kring 2016. Dock så har både Europaparlamentet och Finansinspektionen gett indikationer på att implementeringen kan komma att förskjutas ytterligare. Utöver kapitalkravet kommer Solvens II leda till en mer betungande rapportering samt strukturella förändringar inom livbolagens ledning. Uppsatsen kommer fram till att ingen fastighetsinvestering kommer att premieras för samtliga livbolag men att de kan premieras en fastighetsinvestering för enskilda livbolag beroende på vad de har i sin befintliga portfölj och hur investeringen kan komma att påverka diversifieringseffekten. Eftersom livbolagens portföljer är relativt olika kommer Solvens II inte att påverka den svenska fastighetsmarknaden och om den så var fallet skulle detta redan ha skett eftersom direktivet har varit på agendan sedan 2006. / The Swedish life insurance companies have been one of the major capital investors in the Swedish real estate market in the past five years. The life insurance companies manages capital for its policyholders who expect to get payments either through a traditional insurance where the life insurance companies promise a fixed return per year or by providing a unit-linked insurance. The traditional life insurance brings in huge amounts of premiums that must be invested in different assets. The allocation of the assets will be subjected to the new Solvency II directive, which means that life insurance companies must adapt their assets according to their commitments. The purpose of this report is to investigate the effects the Solvency II directive could have on the Swedish life insurance companies and how life insurance companies may change their allocation of their portfolio as result of these new regulations. The report is limited to the life insurance companies' real estate-related assets and will primarily deal with the impact of risk-based capital requirements for various real estate exposures. Finally, we discuss if the life insurance companies' behavior may affect the Swedish real estate market as a result. The investigation about the proposal has been ongoing since 2006 and implementation is expected to occur around 2016. However, the European Parliament and the Swedish Financial Supervisory Authority have given indications that the implementation could be postponed. In addition to capital requirements, Solvency II will lead to a more stringent reporting and structural changes in the life insurance companies' management. The main findings in this report are that none of the real estate asset classes will be preferred for all life insurances companies, however some asset classes may be preferred from the individual companies perspective with regard of what their present portfolio contains and how the inclusion that asset may affect the diversifying effect. Since every life insurance company portfolio contains a different mix of assets the Solvency II directive will not affect the Swedish real estate market and if that were the case it would already have happened because the directive have been on the agenda since 2006.

Solvens II är ett nytt regelverk för försäkringsbolag inom EU som ska träda i kraft 2016. Tidigare forskning har diskuterat effekterna av det nya regelverket och förutspår att det kommer att påverka försäkringsbolagens tillgångsallokering. Syftet med denna studie är att studera optimala tillgångsallokeringar för livbolag, både med avseende på interna krav på risk och avkastning och externa kapitalkrav i Solvens II. En fallstudie utförs på ett svenskt livbolag för att ta fram en modell för optimala tillgångsallokeringar, som även tar hänsyn till livbolagets framtida utbetalningar. En optimal allokering tas fram med hjälp av kvadratisk optimering på risk och kapitalkrav givet en viss förväntad avkastning och den nuvarande allokeringen jämförs med olika optimala portföljer. Resultaten visar att det är möjligt att optimera allokeringen både ur ett risk- och avkastningsperspektiv samt  apitalkravsperspektiv, men att de optimala tillgångsportföljerna skiljer sig åt markant. Detta arbete påvisar att det finns en betydande skillnad på risk, mätt genom antingen historisk volatilitet eller kapitalkrav. Ett exempel är tillgångsklassen hedgefonder som har en låg historisk volatilitet men har ett högt kapitalkrav i Solvens II. Denna studie bidrar till befintlig forskning genom att utveckla ett ramverk för investeringar för ett livbolag i Solvens II som tar hänsyn till kapitalkrav för olika tillgångar. / Solvency II is a new regulatory framework concerning insurance companies in the European Union, to be introduced in 2016. The effects of the regulation have been discussed and previous literature believes it will have a significant effect on insurance companies’ asset allocation. The aim of this thesis is to investigate the optimal asset allocation for a life insurer with respect to internal risk-return requirements and external capital requirements imposed by Solvency II. The thesis performs a case study on a Swedish life insurer for the purpose of developing and evaluating an asset allocation model which incorporates future liabilities of the life insurer. Through quadratic optimization, the asset allocation is optimized for portfolios associated with a certain expected return and the current allocation is compared to optimal portfolios. The results show that it is possible to optimize the asset allocation from both a risk-return and capital requirement perspective. However, they are subject to large shifts in asset allocation. The thesis also shows that there is a large discrepancy of risk from a standard deviation standpoint and regulatory capital charges. One example are hedge funds which have shown a low historical volatility but are classified as an asset with high risk in Solvency II. This study contributes to theory by providing an investment decision framework for life insurers that includes capital charges for asset allocation.

The persistent bank failures in the Nigerian financial system have been a major concern of the government, depositors, shareholders, and the general public because of the important roles banks play in the economy. The aim of this research was to determine why there have been persistent bank failures in Nigeria and to investigate whether ineffective risk management in banks, coupled with poor corporate governance practices and nonadherence to regulations (independent variables), play a significant role in the banks' performance(dependent variable). The variables were operationalized by taking VaR as the proxy for risk management, having CRO as proxy for ERM , CAR as proxy for corporate governance, and ROE as proxy for performance. The square gap model formed the theoretical basis of this study. The research design was survey design, and a survey instrument was used to collect data from the target population of 300 senior bank executives who were randomly selected from the 24 operating banks in Nigeria. A multiple regression model was used to examine if risk management, governance practices, and regulation adherence significantly predicted bank performance. The findings of the study confirmed that there is a significant positive relationship between the independent variables and the dependent variable. These findings suggest that, by adopting effective risk management, improving corporate governance practices, and adhering to regulations, Nigerian banks can improve their performance. This research has positive social implications for those in the banking industry by ensuring the safety of the depositors' funds in banks, and stabilizing the payment system in the economy, which historically would have been disrupted by systemic failure in the banking industry.

Высокая значимость эффективного управления уровнем дебиторской задолженностью на предприятии для формирования условий устойчивого экономического развития, обеспечения своевременности платежей, а также недостаточная разработанность ряда теоретических вопросов в этой сфере определяют актуальность темы. В связи с этим, в работе исследуются теоретические аспекты управления дебиторской задолженностью, проводится анализ структуры дебиторской задолженности на предприятии ЗАО «Производственная фирма «СКБ КОНТУР» и на этой основе выявляются проблемы и предлагаются конкретные пути их решения. / The high importance of effective management of level of receivables at the enterprise for formation of conditions of sustainable economic development, ensuring timeliness of payments and also insufficient readiness of a number of theoretical questions in this sphere define relevance of a subject. In this regard, in work theoretical aspects of management of receivables are investigated, the analysis of structure of receivables at the CJSC SKB KONTUR Product Company enterprise is carried out and on this basis problems come to light and the concrete actions directed to their decision are offered.

Работа состоит из введения, трех глав, заключения, библиографического списка, включающего 60 наименования источников, 8 приложений. В работе представлено 24 таблицы и 6 рисунков. Общий объем ВКР 101 страница. Цель исследования - разработка направлений совершенствования механизма обеспечения финансовой устойчивости предприятия. Объект исследования - ПАО Газпром, предмет исследования - механизм обеспечения финансовой устойчивости организаций и путей ее укрепления. Научная новизна исследования состоит в разработке мероприятий по укреплению финансовой устойчивости предприятия. Теоретическая значимость исследования состоит в развитии инструментов повышения финансовой устойчивости, ликвидности и платежеспособности компании. Практическая значимость исследования – результаты, приведенные в работе могут быть использованы на предприятии для дальнейшего планирования системы финансового управления в компании. / The work consists of an introduction, three chapters, a conclusion, a bibliography including 60 sources, 8 appendices. The work contains 24 tables and 6 figures. The total volume of the WRC is 101 pages. The purpose of the study is to develop directions for improving the mechanism for ensuring the financial stability of the enterprise. The object of the study is PJSC Gazprom, the subject of the study is the mechanism for ensuring the financial stability of organizations and ways to strengthen it. The scientific novelty of the research lies in the development of measures to strengthen the financial stability of the enterprise. The theoretical significance of the study lies in the development of tools to increase the financial stability, liquidity and solvency of the company. The practical significance of the study - the results presented in the work can be used at the enterprise for further planning of the financial management system in the company.