Title: Robust Monitoring Procedures for Dependent Data Author: Ondřej Chochola Department: Department of Probability and Mathematical Statistics Supervisor: Prof. RNDr. Marie Hušková, DrSc. Supervisor's e-mail address: huskova@karlin.mff.cuni.cz Abstract: In the thesis we focus on sequential monitoring procedures. We extend some known results towards more robust methods. The robustness of the procedures with respect to outliers and heavy-tailed observations is introduced via use of M-estimation instead of classical least squares estimation. Another extension is towards dependent and multivariate data. It is assumed that the observations are weakly dependent, more specifically they fulfil strong mixing condition. For several models, the appropriate test statistics are proposed and their asymptotic properties are studied both under the null hypothesis of no change as well as under the alternatives, in order to derive proper critical values and show consistency of the tests. We also introduce retrospective change-point procedures, that allow one to verify in a robust way the stability of the historical data, which is needed for the sequential monitoring. Finite sample properties of the tests need to be also examined. This is done in a simulation study and by application on some real data in the capital asset...

This thesis deals with the analysis of the profitability and risk of selected sectors on a stock exchange. For analysis of the industry period of 5 years was selected. This period begins in January 2010 and ends in December 2014. Data for the analysis were obtained from the New York Stock Exchange. Ratings industry is based on key indicators of profitability and risk. The profitability of the sector was calculated average and total. The risk was assessed by standard deviation, variance and coefficient of variation. The next step was to evaluate the sector by pricing model of capital asset. The coefficients alpha and beta were obtained by linear regression. MS Excel software was used for calculation. The first part describes the capital market, its subjects and the stock exchanges. For assessing the shares the basic formulas for calculating profitability, risk and CAPM are described in the theoretical part. Methodology paper describes the procedure for evaluating stocks and sectors. There is described a precise procedure of calculating individual indicators. In the third section the results of the analyzed sectors are evaluated. There is described the risk assessment of the industry and the future development of the sector. In conclusion the capital market and forecast of its development are evaluated.

The goal of this thesis is to assess the link between labour productivity and firm competitiveness. An indispensable condition is to identify appropriate indicators measuring competitiveness. The link is examined in small and medium-sized companies active in manufacturing industry, specifically in section CZ-NACE 10. Manufacture of food products. First, an analysis of labour productivity and selected competitiveness indicators is made. Selected competitiveness indicators are Return on Assets (ROA), Return on Sales (ROS), Current Liquidity and index IN05. The relationship between labour productivity and competitiveness measured by selected indicators is examined by correlation and regression analysis. The significant positive link was found between labour productivity and competitiveness measured by ROA and ROS. Small and Medium-sized companies active in food industry can improve their ROA and ROS, and through this also competitiveness, by increasing their labour productivity. These indicators have also proved to be an appropriate tool for measuring the competitiveness of the company, especially in the food industry in the Czech Republic. The link between labour productivity and competitiveness measured by current liquidity and index IN05 was not explained in more detail.

Internationalen Schutz der touristischen Verbraucher. Zum einen hat die Beweise für die Relevanz und die Kontextualisierung zu demonstrieren. Dann sind einige wichtige Konzepte, das Thema zu begrenzen, gefolgt von einer Beschreibung des Verhaltens und der touristischen Erwartungen der Verbraucher. Der zweite Teil stellt die verschiedenen Mittel, die internationalen Schutz der touristischen Verbraucher, mit den internationalen Organisationen beginnen, durch regionale Blöcke und mit den nationalen Entwicklungen abzuschließen. Im dritten Teil ist es der Global Governance zu Gunsten der internationalen Verbraucherschutz. Es beginnt mit der lokalen Verwaltung und internationale rechtliche Zusammenarbeit; dann regionale Governance und internationale rechtliche Zusammenarbeit gearbeitet, mit Global Governance und internationale rechtliche Zusammenarbeit abzuschließen. Abschließend forderte der Vorschlag für den Verbraucher in den internationalen Fällen, in der Aktualisierung des Verbraucherschutzgesetz günstigere Regelung einzufügen; auf regionaler Ebene gibt es eine Nachfrage nach Verbesserung und Strukturierung des Schutzes der Verbraucher internationalen Tourismus; Schließlich ist es die Notwendigkeit eines internationalen touristischen Verbraucherschutz mehr diffus durch eine Konvention der Haager Konferenz für Internationales Privatrecht - HCCH. / Proteção internacional do consumidor turista. Primeiramente, são apresentados elementos para demonstrar a relevância e a contextualização do tema. Em seguida, são apresentados alguns conceitos importantes para delimitar o tema, seguido de uma descrição sobre o comportamento e as expectativas do consumidor turista. Na segunda parte, são apresentados os diferentes meios de tutela internacional do consumidor turista, começando pelas organizações internacional, passando pelos blocos regionais e concluindo com os desenvolvimentos nacionais. Na terceira parte, trata-se da governança global em prol da proteção internacional do consumidor. Começase pela governança local e a cooperação jurídica internacional; em seguida, é trabalhada a governança regional e a cooperação jurídica internacional, concluindo com a governança global e a cooperação jurídica internacional. Como conclusão, defende-se a inserção de proposta da regra mais favorável ao consumidor em casos internacionais na atualização do Código de Defesa do Consumidor; no âmbito regional, há uma demanda por aprimoramento e estruturação da tutela do consumidor turista internacional; Por fim, conclui-se da necessidade de uma proteção do consumidor turista internacional de forma mais difusa, por meio de uma convenção da Conferência de Haia sobre o Direito Internacional Privado - HCCH. / International protection of the tourist consumer. At first, elements are presented to demonstrate the relevance and contextualization of the issue. Then, there are some important concepts to delimit the theme, followed by a description about the behavior and expectations of the tourist consumer. In the second part, the different means of international protection of the tourist consumer are presented, beginning with the international organizations, going through the regional blocks and concluding with the national developments. The third part deals with global governance for international consumer protection. It starts with local governance and international legal cooperation; Then regional governance and international legal cooperation are worked out, concluding with global governance and international legal cooperation. As a conclusion, we advocate the insertion of a proposal of the most consumer most favorable rule in international cases in updating the Brazilian Consumer Defense Code; At the regional level, there is a demand for improvement and structuring of the protection of the international tourist consumer; Finally, it concludes from the need for broader international protection of the tourist consumer, through a Hague Conference on Private International Law convention.

The thesis focuses on estimating the effect of expansionary monetary policy concerning asset prices, specifically house and stock prices as they are of pri- mary importance in financial markets. A structural vector autoregressive model is used including data for the Euro Area, the United Kingdom, and the United States from 2007 to 2017. Moreover, instead of short-term nominal interest rate, the shadow policy rate is used to measure the stance of both conventional and unconventional monetary policy. It is useful when policy rates of central banks are at or near zero as it neglects the zero-lower bound. Using both impulse response functions and forecast error variance decomposition, results suggest that higher interest rates are indeed associated with lower asset prices. That is confirmed by including two different estimates of shadow rates into the model and observing the effect for two specific types of assets. More precisely, house prices react almost immediately showing the most substantial decrease for the United Kingdom, while stock prices slightly increase at first and de- crease afterward with similar size of the effect for all areas under consideration. Finally, the discussion of how the monetary authority should react to asset price fluctuations is provided, summarizing the vast amount of literature...

Denna kandidatuppsats utreder om eller till vilken grad museibesökare kan avgöra om eller när utställningsföremål utsatts för ingrepp eller vårdåtgärder. Sådana åtgärder kan vara stora, så som renovering eller försiktiga, t. ex. konservering. Valet av undersökningsområde kommer sig av egna undringar kring sådana frågor om vårdåtgärder av föremål i utställningar, och en saknad av upplysningar i samband med utställningar som kan svara på sådana frågor. Uppsatsen grundar sig i frågorna kan, eller hur väl, museibesökare avgöra eller utröna vårdåtgärder och materiell autenticitet av museiföremål? och finns intresse hos museibesökare för redovisning av vårdåtgärder och materiell autenticitet, i utställningar eller annorstädes? Frågorna undersöks med en enkätundersökning bestående av en skriftlig enkät med tillhörande bilder på museiföremål. Enkäten rör museibesökares uppfattning av museiföremålens skick och orsaker till dessa, skickens autenticitet, vikten av att påtala när ändringar till skick gjorts samt besökares intresse av att lära sig om ovanstående företeelser. Analys av enkätsvaren visade att hälften av informanterna hade ensidig föreställning av föremålsvård som bestående antingen bara av aktiva vårdåtgärder så som ingrepp av olika slag eller bara av passiva vårdåtgärder så som begränsad användning och god förvaring. Dessa föreställningar skulle kunna balanseras och nyanseras genom redovisning av museiföremåls vårdåtgärder och utlärning av föremålsvård, något som en majoritet av informanterna också uttryckte intresse för. En drivande faktor i denna kandidatuppsats har varit förhoppningen att en diskussion kring redovisning av vårdåtgärder ska främja en diskussion kring museers uppfattade position som absolut kunskapsauktoritet, historiens många tolkningsmöjligheter till trots. / This thesis investigates if or to which degree museum visitors can determine if or when exhibition objects have been subjected to intervention or maintenance measures. Such measures could be vaste, for example a renovation, or careful, such as preventive conservation. The choice for area of investigation is a result of my own musings to such questions about maintenance measures of objects in exhibitions, and a percieved lack of information in conjunction with exhibits which can answer such questions. The thesis is based in the questions can, or how well can, museum visitors determine or deduce maintenance measures and material authenticity of museum objects? and do museum visitors have any interest in presentation of maintenance measures and material authenticity, in exhibits or elsewhere? The questions are investigated by way of survey, comprised of a written questionnaire with accompanying pictures of museums objects. The questionnaire regards museum visitors estimation of the conditions of the museums objects and the causes for these, the authenticity of the objects conditions, the importance of calling attention to deliberate changes to said conditions as well as the visitors interest in learning about all aforementioned occurences. Analysis of the questionnaire showed that half of the informants had a biased, unbalanced conception of object care comprised of either only active maintenance measures such as different kinds of intervention, or of only passive maintenance measures such as limited use or preventive storage. These conceptions could be balanced out and nuanced by presentation of maintenance measures of museum objects and by education in object care, something a majority of the informants also expressed an interest in. A driving force within this thesis has been the hope that a discussion about presentation of maintenance measures will further a discussion about the percieved absolute authority of knowledge of museums, despite history’s vaste possibilities of interpretation.

Martial arts for women - A quantitative study of which factors that influence women to start and to continue the training of martial arts

Internationalen Schutz der touristischen Verbraucher. Zum einen hat die Beweise für die Relevanz und die Kontextualisierung zu demonstrieren. Dann sind einige wichtige Konzepte, das Thema zu begrenzen, gefolgt von einer Beschreibung des Verhaltens und der touristischen Erwartungen der Verbraucher. Der zweite Teil stellt die verschiedenen Mittel, die internationalen Schutz der touristischen Verbraucher, mit den internationalen Organisationen beginnen, durch regionale Blöcke und mit den nationalen Entwicklungen abzuschließen. Im dritten Teil ist es der Global Governance zu Gunsten der internationalen Verbraucherschutz. Es beginnt mit der lokalen Verwaltung und internationale rechtliche Zusammenarbeit; dann regionale Governance und internationale rechtliche Zusammenarbeit gearbeitet, mit Global Governance und internationale rechtliche Zusammenarbeit abzuschließen. Abschließend forderte der Vorschlag für den Verbraucher in den internationalen Fällen, in der Aktualisierung des Verbraucherschutzgesetz günstigere Regelung einzufügen; auf regionaler Ebene gibt es eine Nachfrage nach Verbesserung und Strukturierung des Schutzes der Verbraucher internationalen Tourismus; Schließlich ist es die Notwendigkeit eines internationalen touristischen Verbraucherschutz mehr diffus durch eine Konvention der Haager Konferenz für Internationales Privatrecht - HCCH. / Proteção internacional do consumidor turista. Primeiramente, são apresentados elementos para demonstrar a relevância e a contextualização do tema. Em seguida, são apresentados alguns conceitos importantes para delimitar o tema, seguido de uma descrição sobre o comportamento e as expectativas do consumidor turista. Na segunda parte, são apresentados os diferentes meios de tutela internacional do consumidor turista, começando pelas organizações internacional, passando pelos blocos regionais e concluindo com os desenvolvimentos nacionais. Na terceira parte, trata-se da governança global em prol da proteção internacional do consumidor. Começase pela governança local e a cooperação jurídica internacional; em seguida, é trabalhada a governança regional e a cooperação jurídica internacional, concluindo com a governança global e a cooperação jurídica internacional. Como conclusão, defende-se a inserção de proposta da regra mais favorável ao consumidor em casos internacionais na atualização do Código de Defesa do Consumidor; no âmbito regional, há uma demanda por aprimoramento e estruturação da tutela do consumidor turista internacional; Por fim, conclui-se da necessidade de uma proteção do consumidor turista internacional de forma mais difusa, por meio de uma convenção da Conferência de Haia sobre o Direito Internacional Privado - HCCH. / International protection of the tourist consumer. At first, elements are presented to demonstrate the relevance and contextualization of the issue. Then, there are some important concepts to delimit the theme, followed by a description about the behavior and expectations of the tourist consumer. In the second part, the different means of international protection of the tourist consumer are presented, beginning with the international organizations, going through the regional blocks and concluding with the national developments. The third part deals with global governance for international consumer protection. It starts with local governance and international legal cooperation; Then regional governance and international legal cooperation are worked out, concluding with global governance and international legal cooperation. As a conclusion, we advocate the insertion of a proposal of the most consumer most favorable rule in international cases in updating the Brazilian Consumer Defense Code; At the regional level, there is a demand for improvement and structuring of the protection of the international tourist consumer; Finally, it concludes from the need for broader international protection of the tourist consumer, through a Hague Conference on Private International Law convention.

Den här uppsatsen handlar om trafiksäkerhet och, mer specifikt, den mänskliga faktorns inverkan vid olyckor och incidenter. Arbetet är skrivet inom FICA- projeketet, vars målsättning är att förstå förarbeteende för att kunna utveckla aktiv säkerhetsteknologi för fordon. I första delen (kapitel 2–6) presenteras ett teoretiskt ramverk för att förstå förarbeteende i olika kontexter. I andra delen (kapitel 7–8) redovisas en metod för att analysera olycks- och incidentförlopp, kallad DREAM – Driving Reliability and Error Analysis Method. Metoden demonstreras med en walkthrough av en exempelolycka. Uppsatsen avrundas sedan med en diskussion av hur man utifrån analyser med hjälp av DREAM kan utforma olika tekniker för aktiv säkerhet. / This thesis concerns traffic safety, and more specifically, the way in which the human factor influence the development of accidents and incidents. A theoretical framework for understanding the human factor in the complex traffic environment is introduced. Then a method for analysing the interaction between driver, vehicle and traffic environment in accidents/incidents is presented, called DREAM (Driving Reliability and Error Analysis Method). The thesis concludes with a discussion of how DREAM can influence research and development of new active traffic safety technologies.

Den ständigt pågående debatten om aktiv respektive passiv förvaltning av fonder tycks aldrig upphöra. Det finns för- och nackdelar inom respektive kategori och vetenskapliga teorier kan argumentera för båda sätten. Men den senaste tiden har ett nytt förvaltningssätt introducerats, smart beta. Smart beta kan klassificeras som en hybrid mellan passiv och aktiv förvaltning. Tidigare studier inom området har uppvisat goda resultat för smart beta, dock i andra geografiska områden och med stora globala index. I denna studie introduceras en ny typ av smart beta strategi som har skapats efter ett lönsamhetsmått. Syftet med studien är att undersöka hur smart beta presterar på den svenska marknaden, med utgångspunkt i OMXS30. Studien har en positivistisk forskningsfilosofi tillsammans med en deduktiv ansats och en kvantitativ metod. Resultatet av studien visar att samtliga smart beta strategier genererar en högre avkastning än OMXS30. Tre effektivitetsmått har använts för att beräkna den riskjusterade avkastningen och även där påvisar samtliga smart beta strategier ett högre värde. Resultatet ligger i linje med tidigare studier inom området. Den strategi som genererade högst avkastning och högst riskjusterad avkastning var studiens nya smart beta strategi. Denna studie bidrar med att introducera en ny strategi, samt att undersöka effekten på den svenska börsen. Studien kan vara av värde för såväl etablerade aktörer inom finansbranschen, som för enskilda personer. För vidare forskning inom området bör tidsperioden utökas och fler strategier testas, framförallt med lönsamhetsmått. / The ongoing debate on active and passive fund management never seems to end. There are some pros and cons in each category and scientific theories can argue for both ways. But recently, a new strategy has been introduced, smart beta. Smart beta can be classified as a hybrid between a passive and active strategy. Previous studies have shown good results for smart beta, but in other geographic areas and with larger indexes. In this study, a new type of profitability smart beta is introduced.   The purpose of the study is to examine how smart beta performs on the Swedish market, with starting point in OMXS30. The study has a positivist research philosophy along with a deductive approach and a quantitative method.   The result of the study shows that all smart beta strategies generate a higher return than OMXS30. Three efficiency measures have been used to calculate the risk-adjusted return, and here too, all smart beta strategies demonstrate a higher value. The result is in line with previous studies in the field. The strategy that generated the highest risk-adjusted return was the study's new strategy.   The contribution of this study is to introduce a new strategy, as well as examine the effect of the previous strategies on the Swedish market. The study can be of value to both established actors in the finance industry, but also for individuals. For further research in the area, the time period should be extended and more strategies tested, especially with measures of profitability.