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1	Predikce korporátních bankrotů a kreditního rizika / The prediction of corporate bankruptcy and credit risk Kosturák, Matej January 2013 (has links) This thesis present concise but comprehensive overview of most important paper dedicated to prediction of corporate bankruptcy, as well as overview of the theory behind the employed models and crucial indicators for quality assessment and comparison of the estimations. Manually collected data includes financial statement, identification information and especially specifications of management and responsible persons. From this point of view, data collected are of high quality and in Czech Republic relatively unique. Noticeable is also multiple imputation method used, current "state-of-the-art" technique for missing data treatment. Practical part concentrates on models estimation for various data setting, when contrasting models on raw and truncated datasets. By smoothing data, significantly better model can be estimated with superior discriminating power on the same data points. Inclusion of macroeconomic variables as well as even more significant governance indicators according to current stage of research, improved estimated models.
2	Bankovní efektivnost, riziko a kapitál v zemích Visegrádské čtyřky / Bank Efficiency, Risk, and Capital in the Visegrad Group Countries Fraňo, Filip January 2015 (has links) The aim of the thesis is to estimate the cost efficiency of the banks from the Czech Republic, Hungary, Poland, and Slovakia during 2008-2013 using stochastic frontier analysis. In addition to this, mutual relationships between the changes in banks' cost efficiency, risk- taking, and capital position are examined. First, the literature that is concerned with these relationships is reviewed and the stochastic frontier approach towards the efficiency estimation is outlined. In the empirical analysis, the cost efficiency of the banks from the aforementioned countries is estimated. The results suggest that the Czech and the Polish banks from the sample have the highest average cost efficiency while the Hungarian banks rank the lowest. The estimated efficiency is decreasing during the sample period. No conclusive results are found to support the hypothesis that the larger banks exhibit higher cost efficiency. Subsequently, the system of simultaneous equations is applied to test the mutual relationships between the changes in the banks' cost efficiency, risk-taking, and capital position. The results suggest a negative relationship between the changes in risk-taking and cost efficiency and between the changes in capital position and risk-taking of the banks. Moreover, the results do not indicate simultaneous...
3	Contribution à la compréhension de l'impact des facteurs exogènes de risque sur les PME des pays en développement : le cas de la République Dominicaine. / A Contribution to Understanding the Impact of Exogenous Risk Factors on SMEs in Developing Countries : The Case of the Dominican Republic. / Contribución a la comprensión del impacto de los factores de riesgo exógenos sobre las Mipymes de los países en desarrollo : El Caso de la República Dominicana. Jimenez Romero, Sterling Modesto 24 September 2012 (has links) La plupart des études en gestion sur la performance des entreprises sont centréessur l'explication de la relation entre les facteurs internes ou des caractéristiquesintrinsèques de l'entreprise (niveau d'endettement, diversification des produits, lastratégie concurrentielle, etc.) et son performance. Cette thèse vise à déterminerquels sont les facteurs de risque exogènes qui ont un impact sur la performance desentreprises en République Dominicaine? Ces facteurs, affectent-ils différemment lesmicro, petites et moyennes entreprises en fonction de leur secteur d'activité. Quelest le risque pour chacun des plus représentatifs sous-secteurs des entreprisesDominicaines? Nous avons constaté que les facteurs de risque les plusstatistiquement significatifs sont les dépenses de consommation des ménages, letaux d'intérêt des banques commerciales, l'investissement total, le taux de changede DOP à USD et le déficit de la balance commerciale. La composition etl'importance des facteurs varient considérablement en fonction de la taille desentreprises et le sous-secteur auquel ils appartiennent. Les grandes entreprises sonten moyenne moins risqué que des moyennes, petites et micro entreprises, n’importequel que soit le sous-secteur auquel ils appartiennent. / Many of the management studies on the performance of the company are focusedon explaining the relationship between the internal factors or intrinsic characteristicsof the firm (debt level, diversification of products, competitive strategy, etc.) and itsperformance. This thesis seeks to determine, what are the exogenous risk factorsthat impact the performance of all companies in the Dominican Republic? Thesefactors differentially affect the micro, small and medium enterprises according to theirbusiness sector. What is the risk on each of the most representative sub-sectors ofthe Dominican companies? We found that the most statistically significant riskfactors are the household consumption expenditure, the interest rate of commercialbanks, the total investment, the DOP to USD exchange rate and the deficit on thetrade balance. The composition and importance of the factors significantly variesdepending on the size of the company and the sub-sector to which it belongs. Also,large firms are on average less risky than medium, small and micro regardless of thesub-sector they belong. / Muchos de los estudios de gestión sobre el performance de la empresa se enfocanen explicar la relación que existe entre los factores o características intrínsecas de laempresa (nivel de endeudamiento, diversificación de productos, estrategiacompetitiva, etc.) y el performance de la misma. Esta tesis busca determinar¿cuáles son los factores exógenos de riesgo que impactan el performance de lasempresas de la República Dominicana? Si estos factores afectan de forma diferentea la micro, pequeña y mediana empresa según su actividad empresarial. ¿Cuál es elriesgo que tiene cada uno de los sub-sectores más representativos de las empresasdominicanas? Encontramos que los factores de riesgo estadísticamente mássignificativos son el consumo de los hogares, la tasa de interés de los bancoscomerciales, la inversión total, la tasa de cambio de DOP a USD y el déficit en labalanza comercial. La importancia y composición de los factores varíasignificativamente según el tamaño de la empresa y el sub-sector al que pertenece.También, en promedio, las empresas grandes tienen menos riesgos que lasmedianas, pequeñas y micro sin importar al sub-sector que pertenezcan. PME Risques Facteurs de risques exogènes Risques liés aux secteurs Risques industriels Risques économiques Risques financiers Théorie financière Performance Modèles de performance République Dominicaine Pays en développement Caraïbes Beta d’un secteur Modèles multifactoriels de risque Modèle de panel à effets fixes SMEs Risks Exogenous Risks Factors Sector Risk Industrial Risk Economic Risk Financial Theory Performance Performance Models Dominican Republic Developing Countries Caribbean Sector Betas Multi-factor risk models Fixed Effect Data Panel Model Mipymes Riesgo Factores de Riesgo Exógenos Riesgos Sectoriales Riesgos Industriales Riesgos Económicos Teoría financiera Performance Modelos de Performance República Dominicana Países en Desarrollo Caribe Betas sectoriales Modelos multifactoriales de riesgo Modelo de Datos de panel de efecto fijo 650

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Predikce korporátních bankrotů a kreditního rizika / The prediction of corporate bankruptcy and credit risk

Bankovní efektivnost, riziko a kapitál v zemích Visegrádské čtyřky / Bank Efficiency, Risk, and Capital in the Visegrad Group Countries