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Vlachý, Jan - In: Politická ekonomie 2009 (2009) 2, pp. 147-162

The dramatically growing disproportion between the value of corporate assets and market valuation has resulted in a well-researched schism between strategic management and financial theory. Options theory provides a potent tool to resolve this issue. We propose a model which is consistent with...

Persistent link: https://www.econbiz.de/10005258060

Flexibility Value of Czech Power-Generation

Vlachý, Jan - In: Ekonomika a managment 2008 (2008) 2

The power-generation industry offers numerous opportunities to apply real options. This paper uses current empirical market data to estimate the value of flexibility in the Czech energy sector, which can serve to compare available technologies, and support various investment decisions. The model...

Persistent link: https://www.econbiz.de/10009398902

Zpochybnění deskriptivnosti teorie očekávaného užitku / Expected utility theory reconsidered [available in Czech only]

Skořepa, Michal - Institut ekonomických studií, Univerzita Karlova v Praze - 2006

This paper summarizes the major events in the recent history of modelling human decisions under risk. After presenting … prospect theory either, so that a model which would explain all evidence on decisions under risk is still to be found. …

Persistent link: https://www.econbiz.de/10005673608

Replication Methods in the Pricing and Hedging of Barrier Options

Tomáš, Tichý - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 7-8, pp. 305-324

This paper considers various options replication methods. Firstly, a specific type of barrier option, an up-and-out call, is considered. Other barrier options are briefly also described, and various types of barriers are considered. Secondly, a general definition of replication methods is...

Persistent link: https://www.econbiz.de/10008549672

An Analysis of Financial Performance Using the EVA Method

Dluhošová, Dana - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 11-12, pp. 541-559

The paper considers company performance measures and the development of the Economic Value Added (EVA) indicator in volatile economies, particularly in the case of the Czech Republic. Methods used for pyramidal analysis, their assumptions, and their application possibilities are discussed. A...

Persistent link: https://www.econbiz.de/10008549911

Hedging Strategies and Financial Risks

Zmeškal, Zdenìk - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 1-2, pp. 50-63

Hedging strategies represent basic instrument used toward eliminating financial risk. Increasing volatility of … select hedging strategies. Five basic hedging strategies ? delta hedging, minimum variance, minimum value at risk, maximum … portfolios consisting of risk assets (share, bond, commodity price, and exchange rate) and hedged assets (financial derivative …

Persistent link: https://www.econbiz.de/10008495620

The penalty on risky personal income due to tax rate progression

Vlachý, Jan - In: Politická ekonomie 2007 (2007) 5, pp. 625-636

This paper analyzes the tax penalty on volatile personal income under progressive tax rates. The phenomenon may have an effect on long-term entrepreneurial decisions as well as risky occupational choice. An options-based model is used to estimate the expected effective rate due from tax-payers...

Persistent link: https://www.econbiz.de/10005036619

New elements in global architecture of isurance markets

Ducháčková, Eva; Daňhel, Jaroslav - In: Politická ekonomie 2006 (2006) 3

insurance market. The principles of Basel II and Solvency II are discussed. The second part of article concerned with quality … changes in comercial insurable risk and financial decesion of enormous natural catastrophes in last decade. The traditional … way - insurance, reinsurance and public finance is completed by insurance derivates (CAT bondes) in present. This solution …

Persistent link: https://www.econbiz.de/10005036623

St Petersburg paradox and cardinal utility function

Hlaváček, Jiří; Hlaváček, Michal - In: Politická ekonomie 2004 (2004) 1, pp. 48-60

stochastic utility. In this article we reassume the von Neumann and Mongernstern explanation to this paradox based on the risk … situational risk seeking behaviour of players under the boundary of survival). …

Persistent link: https://www.econbiz.de/10005036631

Teorie očekávaného užitku versus kumulativní prospektová teorie: empirický pohled (available in Czech only)

Skořepa, Michal - In: Czech Economic Review 1 (2007) 2, pp. 180-195

-making under risk at least in the near future. …

Persistent link: https://www.econbiz.de/10005698647