Předmětem diplomové práce je zpracování ekonomické analýzy vybraného průmyslové podniku s využitím nástrojů a metod finanční a ekonomické analýzy. Cílem práce je na základě detailní analýzy účetních a interních dat z let 2003 až 2008 prozkoumat vnitřní ekonomické závislosti, specifické pro daný podnik, a na základě toho co nejpřesněji predikovat stav na konci roku 2009. Součástí analýzy je také podrobné odvětvové srovnání podniku s využitím výpočtu hodnoty EVA pomocí metodiky pyramidového rozkladu ročního ukazatele EVA-INFA, jak ji používá Ministerstvo průmyslu a obchodu ČR. Kromě jiného je cílem práce doporučit vedení analyzovaného podniku opatření, která by vedla v roce 2009 a dalších letech ke zlepšení ukazatele EVA.

The Master's Thesis analyzes in detail the company STUDENT AGENCY, k.s.. This thesis includes a financial analysis of the years 2008 - 2012, followed by a strategical analysis of STUDENT AGENCY'S current operations. All the gained information is synthesized with the SWOT analysis that creates the base for the author's recommendations regarding the business strategy. The Master's Thesis consists of the introduction, the theoretical section, the practical section and the conclusion. In the introduction the basic facts are explained and the motives for writing this thesis are described. The used methodology is described in the theoretical section and then applied on the company in the practical section. In the closure the summary of the findings is made.

The aim of diploma thesis is to carry out economic analysis of chosen company - CARLA spol. s r. o. - within the years 2007 -- 2011 and to compare company results from economic analysis with data from the food industry. Diploma thesis contains of three main parts. First theoretical part presents basic methods and models important for the elaboration of economic analysis. Second part presents chosen company -- its history, products, ownership structure and also analysis of the microenvironment and macroenvironment of the company. In the third part, financial health of the company is analyzed and evaluated with the usage of models from theoretical part -- horizontal and vertical analysis, financial ratio analysis, credibility and bankruptcy models, Economic value added and other analysis. In the conclusion of the diploma thesis, all findings and recommendations are summarized.

The thesis deals with the individual aspects of liquidity and solvency management in the context of financial risk management and working capital components. The main accent is put on the foreign exchange risk management and the cash management tools on the group level: netting and cash pooling. These tools are supported by the cash forecasting system and the actual cash flows evaluation. The methods of liquidity and solvency management are demonstrated on the example of a Shared Service Center organisation.

This diploma´s thesis is focusing on financial management of the construction order. First part of diploma´s thesis is dealing with financial management, financial analysis and management options. The practical part discusses financial plan, economic results and financial analysis of particular construction orders, which are evaluated within one year. The objective of the thesis aims to analyze impacts on the operating economy and evaluate construction contract in context of a construction company. The result is to evaluate financial analyses of construction orders and company´s too.

Evaluation of the Financial Situation in the Construction Company shows and uses methods and tools leading to examination of financial situation, stability, liquidity and profitability of this company. Essence of financial analysis is evaluation of present-state and past development on the base of financial statement analysis. Regarding to market expectations can the results of financial statement analysis help to forecast future deve-lopment of the business. Important part of financial analysis is also commentary and draft of measures leasing to steady and effective business functioning.

This diploma thesis aims to create a draft of a Corporate Financial Plan for a chosen company. It describes the procedure of analysis making, which precedes the financial plan, it explains necessary calculations which are vital for the plan creation and evaluation of both possible variants from the financial point of view.

This thesis evaluates the progress and the level of financial stability of the joint–stock company Pivovar Litovel for the years 2002–2007. On a basis of facts-finding about causes of the progress and the types of influence, which are projected on the reached facts, I recommend particular measures for improvement of current standing.

PhD (Economics) / Department of Economics / This is the first study to investigate the impact of working capital management on the performance (profitability and value) of South African firms listed on the Johannesburg Securities Exchange (JSE) before, during and after the 2008/2009 global financial crisis. Richards and Laughlin’s (1980) Cash Conversion Cycle (CCC) theory was used as the theoretical framework for analysing and linking working capital management to firm performance. In addition, the study investigates how the separate working capital management components impact the performance of firms. The study used both accounting and market based secondary data obtained from I-Net Bridge/BFA McGregor database and the JSE for 75 firms for the 10 year period, 2003 to 2012. Panel data regression models were used in the analyses. The key findings from the study indicate the following. First, the average profitability (ROA) for the sample firms decreased from 27% (before the financial crisis) to 20.2% during the crisis period and increased to 25.9% after the financial crisis. Second, the average market capitalisation (firm value) decreased from R18.9 billion before the crisis to R16.3 billion during the crisis period, and thereafter increased to a high of R24.4 billion after the crisis. Third, the average firm’s CCC was 28.4 days before the crisis and decreased to 12.5 days during the crisis period and later increased to 16.2 days after the crisis. Fourth, and interestingly, of the four working capital management variables, only accounts receivable conversion period is significantly negatively related to profitability during the financial crisis. Fifth, the three firm-specific variables (size, financial leverage, and current assets to total assets ratio) have no significant relation with profitability during the crisis period. Sixth, the external variable, change in GDP growth rate, has a significant positive relation with profitability. This suggests firms perform better when the economy is booming and otherwise during economic downturns, which is consistent with economic theory. Finally, and perhaps the most important contribution is that the study found an inverted U-shape relationship between working capital management (proxied by cash conversion cycle) and firm value before the crisis. This implies that there exists an optimal level of investment in working capital for which the sampled firms’ value is maximized. At this point, costs and benefits are balanced. Thus corporate managers should aim to keep as close to the optimal level as possible and try to avoid any deviations from it that destroy firm value. On the contrary, the results have not established any such relationship between working capital management and profitability for any of the three financial crisis periods. Based on the findings, it is recommended that firm managers should aim at keeping as close to the optimal working capital level as possible and try to avoid any deviations from it that may destroy firm value. / NRF

Luxembourg is one of the most successful financial centers in the world. Initially associated with international syndicated loans, euro-bonds and euro-currency markets, Luxembourg has developed as a center for private banking and is currently the second largest center for the domiciliation of investment funds in the world after the US - with a portfolio equivalent to about sixty times the country’s GDP -, and the first captive reinsurance market in the European Union. As in many other financial centers, the interbank market plays an important role. This partly reflects intra-group operations of foreign banks using their Luxembourg branches and subsidiaries to adjust their liquidity position. More generally, Luxembourg has attracted foreign banks seeking to benefit from its favorable regulatory framework, political stability, language skills of the local workforce and the agglomeration of specialized skills in accounting and legal services.<p><p>The importance of the financial sector in Luxembourg implies that a computable general equilibrium (CGE) model with explicit modeling of the financial sector is indispensable in order to properly take into account the interaction between the financial and the real sector in the economy and the interconnectedness between different financial institutional sectors (e.g. commercial banks and investment funds). Explicit modeling of the financial sector also allows for an analysis of how the economy might respond to financial shocks.<p><p>This dissertation contributes to the literature by developing two analytical tools:<p><p>1.\ / Doctorat en Sciences économiques et de gestion / info:eu-repo/semantics/nonPublished