Diploma thesis deals with the financial analysis of a banking entity operating in Czech Republic and the analysis of time series of selected indicators. The first part gives methodology of the work and theoretical bases for processing financial analysis and time series. The second practical part consists of analysis itself. Based on the results, the state of banking company is evaluated in the final part and the possibilities and proposal are introduced for entity operating in the banking market.

Master’s thesis is focused on evaluation of financial health in selected company. The thesis consists of theoretical definition of the problem, description the company and its business. The following are the individual analysis of financial health and in conclusion there are suggestions for improvement the current situation in the company.

In the United States, total small business outstanding loans declined by 2.5 % in 2013, compared to a 10.4% increase in 2012. Scholars and business practitioners have indicated that small business entrepreneurs experience constraints in accessing capital to grow their businesses. Many small firm owners lack the financial strategies for gaining access to capital to sustain their businesses. Building on system functionality theory, the purpose of this exploratory multiple case study was to explore the financial strategies among 3 purposefully-selected small business owners in Washington DC metro area who successfully overcame the financial constraints. Six themes emerged from the thematic analysis of interview data: credit cards, family and friends, own financing, bank financing, crowdfunding, and government grants and loans. These small firm owners preferred to use their own financing or to borrow from family and friends rather than lending from the banks because of borrowing constraints. Some of the lending limitations included high-interest rates, lack of collateral, provision of a robust business plan, and availability of good financial records. The findings from this study may contribute to social change by providing business owners with more knowledge on financial strategies to use in accessing capital to sustain their businesses. With the improvement in business profitability, business owners will contribute to the economic growth of the local community through the provision of employment opportunities and social amenities.

This dissertation was a study of the impact of financial innovation upon financial institutions and some of the collateral macroeconomics effects. Financial innovation has impacted the distribution of household assets throughout the Group of Seven (G-7) countries and indirectly negatively influenced the usage of traditional monetary aggregates as a reliable tool to forecast the growth in the domestic money supply between 1960 and 1990. The empirical results indicate that the adoption of financial innovations by large U.S. commercial banks has not influenced their return on equity and the return of assets between 1990 and 1994. The variability of the return on equity and return on assets is reduced by those banks that have incorporated financial innovations over time. The policy implications of these results indicate that sufficient market instruments exist to assist banks to control interest rate exposure caused by the volatility of interest rates and uncertain funding sources. Any intervention by regulatory authorities could be welfare-decreasing for banks and possibly increase the level of interest rates or reduce the supply of credit to prospective borrowers.

Magister Commercii - MCom / South Africa is ranked, by any measure, among the most unequal countries in the world. Despite having a relatively well-developed financial system, historic patterns of economic concentration continue to feed into the pattern of unequal and combined development (Kabakova & Plaksenkov, 2018). With record low saving rates and poor long-term financial planning, Financial Health (FH) has become an important issue for individuals and households. Individuals throughout the world endeavour to better their financial lives. They allocate funds to nondiscretionary expenses, save, take out loans and plan, etc., working towards growing their assets and growing their resources, in their quest for good FH. This study examined the relationship between FI and FH in South Africa, as well as whether and how individuals benefit from their relationship to the financial system. The study used a nationally representative demand-side survey, FinScope South Africa, for the periods 2011 and 2016. Principal Component Analysis (PCA) was applied to derive a Financial Inclusion Index (FII) and a Financial Health Index (FHI) to measure the range of FI and FH in South Africa. Probit regressions were run to measure the likelihood of being financially included and having good FH. Ordinary Least Squares (OLS) were run to identify the sort of the relationship between the dependant and independent variables. Lastly, bivariate regressions were run to test the relationship between FI and FH.

This thesis studies three important topics in modeling financial volatility. First, the jump clustering in ex post variance and its implications on forecasting, second, the underlying distribution of stochastic volatility and third, the role of non-Gaussian multivariate return distribution combined with a realized GARCH framework. The first chapter is on variance jumps. Financial markets present unexpected and large jumps, due to unobserved news flow. I focus on modeling the ex post variance jumps, their time- dependent arrivals and their sizes. I use a discrete-time bivariate model, with two autoregressive components which capture the long and short-run memory of the ex post variance measures. I estimate contemporaneous and time-dependent jumps in the log-measures of realized variance and bipower variation. The results from S&P500 show that the variance jumps are frequent and persistent. I examine the ability of jumps to forecast returns and ex post variance densities over horizons of up to 50 days out-of-sample. Modeling jumps significantly improves ex post variance density forecasts for all horizons and improves forecasts of the returns density. In the second chapter I explore the empirical non-Gaussian features of stochastic volatility. The standard assumption in a stochastic volatility specification is typically a restrictive Gaussian AR(1) structure. I drop this assumption and instead I assume that latent log-volatility follows an infinite mixture of normals with a Dirichlet process prior. The ex post measure of realized variance is used as a source of information to help identify the unknown distribution of log- volatility. Results from major stock indices show strong evidence of non-Gaussian distributional behaviour of volatility. The proposed framework captures asymmetry and thick tails in returns as well as realized variance. In out-of-sample forecasting, the new model provides improved density forecasts for returns, negative returns and log-realized variance. In the third chapter a new approach for multivariate realized GARCH models is proposed. Two new extensions that have non-Gaussian innovations are developed. The first one is a parametric version, with multivariate-t innovations. The second one is a nonparametric approximation of the return distribution using an infinite mixture of multivariate normals given a Dirichlet process prior. The proposed models are based on the assumption that the realized covariance follows an Inverse Wishart distribution with conditional mean set to the conditional covariance of returns. The benefits of the proposed models are demonstrated from density forecasting and portfolio applications. Results from two equity datasets indicate that modeling the tail behaviour improves return density forecasting compared to the Gaussian assumption. The proposed models produce the least volatile global minimum variance portfolios out-of-sample and provide improved forecasts of Value-at-Risk and Expected Shortfall. / Thesis / Doctor of Business Administration (DBA)

Yes / This chapter examines the conceptual and measurement issues involving financial inclusion. Rest of the chapter is organised as follows. Section 2 defines the concept of financial inclusion. Section 3 briefly discusses the barriers to financial inclusion. The next section outlines measurement issues and data sources involving financial inclusion. Finally, the last section of the study concludes.

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<p>This thesis has two major objectives. The first objective is to analyze the aggregate financial assets and financial flows, and as well their sectoral composition, in the Egyptian economy over the period 1952 through 1970. To pursue this study a Gross Financial Stocks Interrelation Matrix, the stock equivalent of the extended version of the lending/borrowing matrix was formulated for Egypt at eight points in time between 1952 and 1970. Our motivation for undertaking this study is based on the lack of literature analysing the financial flows of the non-financial sectors in Egypt. The literature on the financial structure of the Egyptian economy was limited to the institutions and assets of the financial sector. An interesting finding of this study is that the assumption of control over the economy by the Egyptian government in 1961 did not have much impact on the structure and the size of the financial flows. The second objective of the thesis is to prevent a technique of financial planning which is designed to aid in contolling the amount of high powered money issues by the central bank and thus the money supply prevailing in Egypt. in this respect, it was found that reasonable degree of accuracy in forecasting sectoral financial assets can be achieved by using naive forecast models. This means that, even in the absence of sophisticated econometric models of the Egyptian economy, a reasonable degree of accuracy in planning monetary aggregates can still be achieved.</p> / Doctor of Philosophy (PhD)