Дисертації з теми "Solvency ratios"
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1
Чайка, Тетяна Юріївна, Ірина Євгенівна Хаустова та Олена Олександрівна Синяговська. "Коефіцієнтний аналіз необоротних активів: розрахунок по фінансовій звітності НП(С)БО України та сучасні тенденції діагностики". Thesis, Дніпровський національний університет ім. Олеся Гончара, 2018. http://repository.kpi.kharkov.ua/handle/KhPI-Press/36326.
Повний текст джерелаАнотація:
Коефіцієнтний аналіз (ratio analysis) – невід'ємна складова фінансової діагностики. Фінансові співвідношення (коефіцієнти) дозволяють узагальнити велику кількість вихідних даних і якісно оцінити фінансово-економічний стан компанії. Коефіцієнти структури активів дозволяють оцінити: цільовий економічний капітал; ліквідність інвестованого капіталу; здатність компанії змінювати структуру активів під дією факторів впливу. Основним структурним коефіцієнтом, що характеризує співвідношення активів, є співвідношення необоротних і оборотних активів підприємства (non-current assets structure ratio, NCAR). Цей коефіцієнт розраховується під час вертикального аналізу балансу. Сприятливий діапазон значень залежить від галузевої приналежності підприємства. Якщо в динаміці спостерігається збільшення цього співвідношення, це свідчить про посилення виробничих можливостей підприємства при одночасному зниженні фінансової стійкості. Коефіцієнти платоспроможності (solvency ratios) є індикаторами здатності підприємства погашати свої боргові зобов'язання. На відміну від коефіцієнтів ліквідності, які охоплюють тільки короткострокову заборгованість, коефіцієнти платоспроможності характеризують здатність підприємства погашати як короткострокові, так і довгострокові зобов'язання. Необоротні активи – найменш ліквідна частина активів. Тому з точки зору забезпечення платоспроможності і фінансової стійкості вони повинні бути забезпечені переважно найбільш стабільними джерелами фінансування, тобто власним капіталом компанії. Відношення необоротних активів до чистої вартості (власного капіталу) (Non-current assets to Net worth ratio) (NCANWR) показує, чи дотримується це правило. Коефіцієнт оборотності необоротних активів (Non-current assets turnover, NCAT) визначає ефективність, з якою бізнес використовує свої необоротні активи для отримання доходу. Коефіцієнти рентабельності (прибутковості) (Profitability ratios) характеризують здатність підприємства створювати прибуток. Ця група коефіцієнтів має особливо важливе значення, оскільки прибуток є головним підсумковим результатом діяльності підприємства. Рентабельність необоротних активів (Return on Non-current assets, RONCA) характеризує рівень генерації чистого прибутку (Net income) у розрахунку на одиницю вартості необоротних активів.
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Velecký, Roman. "Posouzení finančního zdraví firmy." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2008. http://www.nusl.cz/ntk/nusl-221807.
Повний текст джерелаАнотація:
This Master´s thesis deals with current financial strategies of the company "ABC s. r. o. ". For the appraisals was used various financial methods of the financial analysis. The results was used then for the suggestion on the field of the improving financial situation in the next period.
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Frejková, Daniela. "Finanční strategie společnosti." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2007. http://www.nusl.cz/ntk/nusl-221506.
Повний текст джерелаАнотація:
This Master´s thesis assesses current financial strategies of the company „ABC, a. s.“. The evaluation was based on results from financial analysis which were essential for the proposition of financial strategies for the following period.
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Vaňková, Markéta. "Finanční analýza Hasičské vzájemné pojišťovny." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-18816.
Повний текст джерелаАнотація:
The subject of the diploma thesis is financial analysis of Fire Mutual Insurance Company from the year 2004 to 2008. The thesis consists of two parts- theoretical part and practical part. The theoretical part describes acceptable methods of financial analysis of commercial insurance company. On the basis of specific activities of insurance companies are selected the typical indicators for insurance company. The practical part of the thesis is focused on the application of selected methods of financial analysis for the Fire Mutual Insurance Company.
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Martinková, Petra. "Finanční a ekonomická strategie společnosti." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2009. http://www.nusl.cz/ntk/nusl-222246.
Повний текст джерелаАнотація:
This Master's thesis deals with current financial situation of non-profit-making organization called Nadeje o.s. For classification were applied some methods of financial analysis, whose results were applied to suggestions for financial strategy in following period.
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Budrikienė, Rasa. "Bankroto prognozavimo modelių pritaikomumas skirtingo mokumo ir pelningumo įmonėms." Bachelor's thesis, Lithuanian Academic Libraries Network (LABT), 2012. http://vddb.laba.lt/obj/LT-eLABa-0001:E.02~2012~D_20120702_112323-96129.
Повний текст джерелаАнотація:
Bakalauro baigiamajame darbe pritaikyti įvairūs bankroto prognozavimo modeliai bei apskaičiuoti dažniausiai naudojami mokumo ir pelningumo rodikliai, neįeinantys į modelius, tačiau turintys didelę įtaką bankroto prognozėms.Various bankruptcy prediction models are adapted in this bachelor thesis. Generally used solvency and profitability rates, that are not part of models, but have an impact for bankrupt prediction, had been calculated.
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Foukalová, Jana. "Hodnocení finanční situace podniku a návrhy na její zlepšení." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2008. http://www.nusl.cz/ntk/nusl-221651.
Повний текст джерелаАнотація:
This master’s thesis assess the financial health of the company ORTIKA a.s. in the period of 2002 to 2006 on the basis of selected methods of the financial analysis. It includes proposals of possible solutions of identified problems which should result in the improvement of financial situation of the company in future years.
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Koďousek, Libor. "Nové přístupy ke sledování solventnosti pojišťoven." Master's thesis, Vysoká škola ekonomická v Praze, 2007. http://www.nusl.cz/ntk/nusl-888.
Повний текст джерелаАнотація:
Cílem této diplomové práce je popsat a zhodnotit různé přístupy používané ke sledování solventnosti pojišťoven. V úvodní části jsou vysvětleny základní pojmy z oblasti pojišťovnictví jako riziko, risk management, pojištění a také jsou zde uvedeny specifika hospodaření pojišťoven a možná rizika působící na pojišťovny. V dalších kapitolách jsou přiblíženy principy jednotlivých přístupů, kterými jsou klasický přístup přes míru solventnosti, RBC přístup a dále z moderních přístupů to jsou simulační modely prezentované metodami DFA a scenario testing. V poslední kapitole jsou popsány připravované projekty regulace solventnosti Solvency II a Swiss Solvency Test. Na závěr jsou zhodnoceny výhody a nevýhody uvedených přístupů a jejich dopad na pojistitele.
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Gonçalves, Sofia Maria Lima Fernandes. "The impact of liquidity and solvency constraints in European banks’ efficiency." Master's thesis, Instituto Superior de Economia e Gestão, 2017. http://hdl.handle.net/10400.5/14794.
Повний текст джерелаАнотація:
Mestrado em FinançasO objetivo deste estudo é analisar a relação entre a eficiência bancária e algumas das medidas regulatórias do Basileia III. É feita uma apresentação e discussão da eficácia das normas globais de liquidez e capital, recentemente impostas pelo Comité de Supervisão Bancária do Basileia (BCBS - Basel Committee on Banking Supervision). A nossa análise empírica baseia-se em duas metodologias distintas: (i) regressões lineares múltiplas; (ii) um método não paramétrico designado de Análise de Dados em Envelope (DEA - Data Envelopment Analysis). A eficiência no setor bancário é medida a partir de duas perspetivas diferentes - com base em simples rácios contabilísticos e, alternativamente, a partir do conceito de eficiência técnica que consiste na distância relativa a uma fronteira de eficiência padrão. Os nossos resultados apontam para a presença de efeitos da regulação do Basileia na eficiência bancária, embora estes efeitos não sejam consistentes durante os três anos em análise. Os resultados de ambas as metodologias sugerem impactos contraditórios na eficiência dos bancos europeus.
The purpose of this study is to analyse the relationship between bank efficiency and some Basel III regulatory measures. It presents and discusses the effectiveness of recent liquidity and capital global standards imposed by the Basel Committee on Banking Supervision (BCBS). Our empirical analysis relies on two distinct methodologies: (i) multiple linear regressions; (ii) a non parametric method called Data Envelopment Analysis (DEA). The efficiency in the banking sector is measured in two different perspectives - through simple accounting ratios and, alternatively, through the concept of technical efficiency which consists of the relative distance to a best-practice efficient frontier. Our findings point to the presence of effects of Basel regulation on bank efficiency, although these effects are not consistent throughout the three-year analysis. Evidence from both methodologies suggest a conflicting impact on the efficiency of European banks.
info:eu-repo/semantics/publishedVersion
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Ramos, Mabel Philipps. "Biocompatibilidade de solventes utilizados no retratamento endodontico : estudo experimental em ratos." [s.n.], 2000. http://repositorio.unicamp.br/jspui/handle/REPOSIP/288218.
Повний текст джерелаАнотація:
Orientador: Mario Roberto VizioliDissertação (mestrado) - Universidade Estadual de Campinas, Faculdade de Odontologia de Piracicaba
Made available in DSpace on 2018-07-27T11:24:17Z (GMT). No. of bitstreams: 1 Ramos_MabelPhilipps_M.pdf: 4905002 bytes, checksum: f8a62f9d47dd3b1915a675f55703713f (MD5) Previous issue date: 2000
Resumo: O retratamento é a primeira opção para os casos de insucesso da terapia endodôntica. Para que possa ser realizado, é preciso remover o material obturador pré-existente no canal radicular. O uso de solventes facilita este procedimento, além de evitar a ocorrência de acidentes. Um dos requisitos desejáveis é de não serem agressivos aos tecidos periapicais. Sendo assim, a proposta deste estudo foi de avaliar o potencial irritante destes solventes e comparar seus efeitos sobre o tecido subcutâneo de ratos. Para isto, 12 animais foram utilizados, recebendo quatro tubos de polietileno. Três preenchidos com Fibrinol embebido em cada uma das substâncias-teste, ou seja, clorofórmio, eucaliptol e óleo de laranja e um tubo preenchido apenas com Fibrinol que serviu de controle. Os animais foram sacrificados após 4, 7, 11 e 15 dias, com remoção dos tecidos dorsais que continham os tubos. Após processamento laboratorial das peças incluídas em glicol metracrilato, foram realizados cortes de 3 m m de espessura, corados com hematoxilina e eosina e analisados em microscopia óptica. Os resultados obtidos demonstraram que o óleo de laranja foi o solvente menos irritante. Subjetivamente não foi encontrada diferença entre o poder irritante do eucaliptol e do clorofórmio. Sendo assim, acreditamos que o óleo de laranja possa ser a alternativa mais adequada para a desintegração do material obturador durante o retratamento endodôntico
Abstract: Re-treatment is the first option in case of failure of the endodontic therapy. To enable this process, it is essential to remove the pre-existing filling material of the root canal. The use of solvents facilitates this procedure and helps to avoid accidents. One of the properties required from these solvents is non-aggression to periapical tissues. The aim of this study is, therefore, to evaluate the harmful potential of these solvents and compare their effect on subcutaneous tissue of rats. Twelve rats were used to carry out the experiment. Four polyethylene tubes were implanted in each animal, and these tubes were filled with Fibrinol imbibed in one of the test-substances, which were chloroform, eucalyptol, and orange oil. The fourth tube was filled only with Fibrinol and was used as a control. Animals were killed 4, 7, 11 and 15 days after implant procedures, and dorsal tissues contained in the implants were removed. After laboratory processing of the specimens, which were immersed in metacrylate glycol, three 3 mm-wide sections were made. These sections were stained with hematoxylin and eosin, and analyzed through microscopy. The results showed that the least harmful solvent was the orange oil. Subjectively, no difference was found between the harmful potential of eucalyptol and chloroform. We therefore believe that the orange oil may be the most appropriate alternative for disintegration of filling material during endodontic re-treatment
Mestrado
Mestre em Radiologia Odontológica
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Wilson, Anton. "Mixing ratio determination of binary solvent mixtures in high-pressure microfluidics." Thesis, Uppsala universitet, Mikrosystemteknik, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-324869.
Повний текст джерелаАнотація:
The focus of this project is to find a suitable method to determine the mixing ratio inbinary fluid mixtures in continuous-flow microfluidic systems because of thedifficulties in doing so for mixtures containing compressible fluids. Refractive indexand relative static permittivity are both properties that could be suitable, but methodsmeasuring the refractive index scales badly for microsystems. A microfluidic chip for measuring capacitance was placed on a PCB together with amixing structure with strain-relieved fluid and electrical interfaces. This PCB was builtinto a rig with two piston pumps and a backpressure regulator to makemeasurements of the relative static permittivity of air, ethanol, methanol, acetonitrile,liquid and gaseous carbon dioxide, as well as of several mixtures of ethanol andcarbon dioxide using a Network Analyzer. Several other measuring techniques were tried, but the Network Analyzer wassuperior in accuracy, stability and frequency range. It produced values within 4% ofthe theoretical, and the discrepancy could be explained by the approximations in theparallel plate capacitor formula, the capacitance contributions of the external parts ofthe system and surface roughness. The Network Analyzer is a good tool to determinethe mixing ratio in binary fluid mixtures in continuous-flow microfluidic systems.
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Larsson, Niklas. "Optical and Structural Properties of CuxS Quantum Dots Concerning H2O/Ethanol Solvent Ratio." Thesis, KTH, Skolan för teknikvetenskap (SCI), 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-154249.
Повний текст джерелаАнотація:
Nanotechnology, one of the most interesting sciences today will no doubt have an enourmous impact on tomorrow's society and industry. One of the most interesting nanomaterial that has been discovered is the semiconductor quantum dot (QD). This material shows interesting novel properties such as a size-dependent band gap, which is an effect caused by the quantum confinement effect in all three dimensions. Due to this phenomenon the absorption spectrum can be tuned to the desired value by adjusting the size of the QD. This thesis aims to investigate how the solvent ratio of H2O/Ethanol affects the optical and structural properties of copper sulfide QDs manufactured in a chemical synthesis way using modern microwave heating. The process of manufacturing QDs using chemical synthesis often involve a capping-agent to prevent the QDs from agglomerate into bigger structures. In this case one of the most common amino acids will be used and briefly investigated. Due to the small size the characteristics of nanomaterials must be investigated with sophisticated instruments and the QD is not an exception. In this work, the transmission electron microscope (TEM), powder X-ray diffraction (XRD) and ultraviolet-visible (UV-vis) spectroscope are utilized to determine the size and stoichiometrics of the particles made in the synthesis.
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Kučerovský, Radek. "Hodnocení finanční situace podniku a návrhy na její zlepšení." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2013. http://www.nusl.cz/ntk/nusl-224189.
Повний текст джерелаАнотація:
This thesis evaluates the financial situation of Pekárna Crocus, Ltd. between the years 2006 - 2011. The aim of this work is to evaluate the current financial position of the company and to draft proposals for its improvement. The first part will summarize all the theoretical knowledge, on the basis of which the practical part will be created. The second part consists of information relating to the company. In the third part of the work a financial analysis will be done and finally the proposals and measures to improve the current financial situation will be presented.
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Fedor, Marcin Lorenzi Jean-Hervé. "L'objectif de la réglementation prudentielle et son rôle dans l'allocation de l'épargne des sociétés d'assurance vie le dépassement de Solvency II par une approche "rendement-risque" /." [S.l.] : [s.n.], 2009. http://basepub.dauphine.fr/xmlui/handle/123456789/190.
Повний текст джерела
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Fedor, Marcin. "L’objectif de la réglementation prudentielle et son rôle dans l’allocation de l’épargne des sociétés d’assurance vie : le dépassement de Solvency II par une approche « rendement-risque »." Paris 9, 2009. https://bu.dauphine.psl.eu/fileviewer/index.php?doc=2009PA090003.
Повний текст джерелаАнотація:
Cette thèse analyse les origines et les objectifs de la réglementation prudentielle des placements en assurance et son rôle dans l’allocation de l’épargne des assureurs. Elle comporte trois parties. Une première partie explique l’importance du secteur de l’assurance pour la gestion de l’épargne mondial et permet de comprendre les nécessités, la nature et l’évolution des principes de solvabilité en assurance. Ces normes prudentielles étaient toujours développées dans un seul objectif - prévenir les faillites par la mesure et le contrôle scrupuleux du « risque ». La deuxième partie traite du rôle négatif de ces normes de solvabilité « monofactorielles » sur l’allocation de l’épargne. Cette analyse historique permet de caractériser la capitalisation comme source de motivation pour la réallocation d’investissements et d’examiner la situation dans ce contexte en Europe avant l’introduction de Solvency II. La troisième partie propose un nouveau cadre théorique pour analyser la réglementation prudentielle des placements et explique théoriquement pourquoi les normes de solvabilité « monofactorielles » influencent les politiques d’investissement des assureurs. Cette dernière partie propose une nouvelle approche de la réglementation des investissements qui vise deux objectifs – le contrôle du risque et le rendement optimal. Sur la base de l’approche « bifactorielle », nous proposons des modifications pour Solvency IIThis thesis investigates the nature and the objectives of investment prudential regulations in insurance business and its role in asset allocation by insurers. The thesis is divided into the following three parts. Part one explains the importance of insurance sector for savings’ allocation and allows understanding the need, the nature and the evolution of solvency principles in insurance sector. These prudential rules have been developed with the single objective of telling failures by measuring and controlling the "risk". Part two deals with the negative role of these "mono-factorial" rules for asset allocation. This historical analysis allows us to characterize the capitalization as the source of motivation for investment reallocation and to examine, in this context, the situation in Europe before the introduction of Solvency II. Part three offers a new theoretical frame to analyze investment prudential regulations and explains theoretically why the "mono-factorial" rules influence financial policies of insurance companies. This last part offers a new approach towards prudential regulations, which aims at two objectives – risk control and optimum return. On the basis of this "bi-factorial" approach, the thesis offers modifications for Solvency II
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Dimitrova, Evgenia. "Bank capitalization and credit rating assessment : Evidence from the EBA stress test." Thesis, Högskolan i Jönköping, Internationella Handelshögskolan, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-30455.
Повний текст джерелаАнотація:
Banks face market pressure when determining their capital structures because they are subject to strict regulations. CFOs are willing to adjust their company’s capital structures in order to obtain higher ratings. The credit ratings are highly valuable not only because they assess the creditworthiness of the borrowers but also because those agencies take advantage of the information asymmetry and have access to data that companies might not disclose publicly. Also, this industry gained much interest after the BIS proposals back in 1999 and 2001 that the Basel Committee on Banking Supervision should consider the borrower’s credit ratings when examining banks’ solvency and adequacy. Factors used to determine the credit ratings are banks’ asset quality which is fundamental measure for the creditworthiness, banks’ capital which is related to the asset quality in relation to the RWA, banks’ profitability, and liquidity measurements. The purpose of this paper is to investigate whether the banks that keep excess equity to balance sheet receive better credit ratings, given the predictors capital, banks size and defaulted to total exposures. The European Banking Authority (EBA) stress test results are used as a benchmark for determining banks’ capital adequacy and solvency, whereas the credit ratings are obtained shortly after the EBA’s reports publication. The sample size is 73 and 95 banks for the years 2011 and 2014, respectively. The results from the multivariate ordinal regression do not show significant correlation results between the excess equity to balance sheet and the credit ratings, even though the estimated coefficient is negative, namely excess equity is associated with lower credit ratings. An explanation to this one can find in the low-quality capital relative to the banks’ capital base. Also, banks which plan to implement risker projects or currently hold risker assets are subject to higher capital requirements. Moreover, banks currently being rated low but with the potential of being upgraded would be more willing to issue equity than debt in order to avoid the corresponding risk and achieve the higher rating. The equity ratio and the defaulted to total exposures ratio show significant correlation to the banks’ credit ratings. Overall, since the results of the regression are insignificant, we do not have reasons to believe that holding excess equity is not beneficial for banks. When banks make changes in their leverage ratios they would either carry the cost of being downgraded or the cost related to issuing more equity, therefore at the end they will balance the leverage ratio close to the optimal and keep as much capital as required by regulations.
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Code, James Edward Eick J. David. "Experimental evaluation of solvents with a biological substrate based on solubility parameter theory solubility parameter determinations by computational chemistry using a rational design process /." Diss., UMK access, 2004.
Знайти повний текст джерелаАнотація:
Thesis (Ph. D.)--School of Dentistry and Dept. of Chemistry. University of Missouri--Kansas City, 2004."A dissertation in oral biology and chemistry." Advisor: J. David Eick. Typescript. Vita. Description based on contents viewed Feb. 23, 2006; title from "catalog record" of the print edition. Includes bibliographical references (leaves 137-145). Online version of the print edition.
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Kunder, Róbert. "Hodnocení finanční situace podniku a návrhy na její zlepšení." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2013. http://www.nusl.cz/ntk/nusl-224245.
Повний текст джерелаАнотація:
Master´s thesis evaluates financial situation of chosen company between years 2007 and 2011 through methods of financial analysis and analysis of enviroment of company. Financial analysis will be performed by analyzing ratio systems and analysis of absolute, differential and ratio indexes. Solutions, that might help current situation of company, will be suggested and based on results of analysis.
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Persson, Daniel, and Johannes Ahlström. "Går det att prediktera konkurs i svenska aktiebolag? : En kvantitativ studie om hur finansiella nyckeltal kan användas vid konkursprediktion." Thesis, Linköpings universitet, Företagsekonomi, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-119867.
Повний текст джерелаАнотація:
Från 1900-talets början har banker och låneinstitut använt nyckeltal som hjälpmedel vid bedömning och kvantifiering av kreditrisk. För dagens investerare är den ekonomiska miljön mer komplicerad än för bara 40 år sedan då teknologin och datoriseringen öppnade upp världens marknader mot varandra. Bedömning av kreditrisk idag kräver effektiv analys av kvantitativa data och modeller som med god träffsäkerhet kan förutse risker. Under 1900-talets andra hälft skedde en snabb utveckling av de verktyg som används för konkursprediktion, från enkla univariata modeller till komplexa data mining-modeller med tusentals observationer. Denna studie undersöker om det är möjligt att prediktera att svenska företag kommer att gå i konkurs och vilka variabler som innehåller relevant information för detta. Metoderna som används är diskriminantanalys, logistisk regression och överlevnadsanalys på 50 aktiva och 50 företag försatta i konkurs. Resultaten visar på en träffsäkerhet mellan 67,5 % och 75 % beroende på vald statistisk metod. Oavsett vald statistisk metod är det möjligt att klassificera företag som konkursmässiga två år innan konkursens inträffande med hjälp av finansiella nyckeltal av typerna lönsamhetsmått och solvensmått. Samhällskostnader reduceras av bättre konkursprediktion med hjälp av finansiella nyckeltal vilka bidrar till ökad förmåga för företag att tillämpa ekonomistyrning med relevanta nyckeltal i form av lager, balanserad vinst, nettoresultat och rörelseresultat.From the early 1900s, banks and lending institutions have used financial ratios as an aid in the assessment and quantification of credit risk. For today's investors the economic environment is far more complicated than 40 years ago when the technology and computerization opened up the world's markets. Credit risk assessment today requires effective analysis of quantitative data and models that can predict risks with good accuracy. During the second half of the 20th century there was a rapid development of the tools used for bankruptcy prediction. We moved from simple univariate models to complex data mining models with thousands of observations. This study investigates if it’s possible to predict bankruptcy in Swedish limited companies and which variables contain information relevant for this cause. The methods used in the study are discriminant analysis, logistic regression and survival analysis on 50 active and 50 failed companies. The results indicate accuracy between 67.5 % and 75 % depending on the choice of statistical method. Regardless of the selected statistical method used, it’s possible to classify companies as bankrupt two years before the bankruptcy occurs using financial ratios which measures profitability and solvency. Societal costs are reduced by better bankruptcy prediction using financial ratios which contribute to increasing the ability of companies to apply financial management with relevant key ratios in the form of stock , retained earnings , net income and operating income.
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Кошева, О. А. "Управління кредитоспроможністю страхової компанії". Master's thesis, Сумський державний університет, 2021. https://essuir.sumdu.edu.ua/handle/123456789/87041.
Повний текст джерелаАнотація:
Актуальність теми дослідження полягає у сучасних умовах фінансової непостійності та невизначеності в Україні, постійно мінливих моментів зовнішньої та внутрішньої середовища, страхові організації повинні володіти гнучкою структурою фінансових ресурсів і за необхідності залучати позикові кошти, тобто бути кредитоспроможними.
Метою магістерського дослідження є розгляд методик оцінки та управління кредитоспроможністю, застосування рейтингової методики до страхової організації ВАТ «ТАС».
Завдання роботи: Розкрити сутність поняття «страхування»; розкрити теоретичні аспекти визначення кредитоспроможності страхової компанії; розкрити найбільш популярні методики оцінки та управління кредитоспроможності страхової компанії; дати оцінку кредитоспроможності страхової організації «ТАС».
Об’єктом дослідження є оцінки та управління кредитоспроможністю страхової організації ВАТ «ТАС».
Наукова новизна дослідження: розгляд методик оцінки та управління кредитоспроможністю, застосування рейтингової методики до страхової організації ВАТ «ТАС».
Практична значущість дослідження полягає у формуванні рекомендацій щодо впровадження методик оцінки та управління кредитоспроможністю, застосування рейтингової методики до страхової організації ВАТ «ТАС».
У першому розділі розглянуто теоретичні основи аналізу та управління кредитоспроможністю організації.
У другому розділі досліджено методичні засади аналізу та управління кредитоспроможності.
У третьому розділі проведено аналіз кредитоспроможності з урахуванням рейтингової методики з прикладу ВАТ «ТАС»The relevance of the research topic lies in the current conditions of financial instability and uncertainty in Ukraine, constantly changing moments of external and internal environment, insurance companies must have a flexible structure of financial resources and, if necessary, attract loans, ie be creditworthy. The purpose of the master's study is to consider the methods of assessment and management of creditworthiness, the application of rating methods to the insurance organization of JSC "TAS". Tasks: To reveal the essence of the concept of "insurance"; to reveal the theoretical aspects of determining the creditworthiness of an insurance company; reveal the most popular methods of assessing and managing the creditworthiness of the insurance company; to assess the creditworthiness of the insurance organization "TAS". The object of the study is the assessment and management of creditworthiness of the insurance organization OJSC "TAS". Scientific novelty of the research: consideration of methods of credit assessment and management, application of rating methods to the insurance organization of OJSC "TAS". The practical significance of the study lies in the formation of recommendations for the implementation of methods of assessment and management of creditworthiness, the application of rating methods to the insurance company OJSC "TAS". The first section discusses the theoretical foundations of analysis and credit management of the organization. The second section examines the methodological principles of analysis and management of creditworthiness. In the third section, the analysis of creditworthiness is carried out taking into account the rating methodology on the example of JSC "TAS"
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Hart, Erin F. "Using the Abraham Solvation Parameter Model to Predict Solute Transfer into Various Mono- and Multi-Functional Organic Solvents." Thesis, University of North Texas, 2018. https://digital.library.unt.edu/ark:/67531/metadc1157615/.
Повний текст джерелаАнотація:
The Abraham Solvation Parameter Model (ASPM) is a linear, free-energy relationship that can be used to predict various solute properties based on solute-solvent interactions. The ASPM has been used to predict log (K or Cs,organic/Cs,gas) values, as well as log (P or Cs,organic/Cs,water) values for solute transfer into the following organic solvents: 2-methoxyethanol, 2-ethoxyethanol, 2-propoxyethanol, 2-isopropoxyethanol and 2-butoxyethanol. The derived log (K or Cs,organic/Cs,gas) correlations describe the experimental data to within 0.14 log units (or less). The derived log (P or Cs,organic/Cs,water) correlations describe the experimental data to within 0.16 log units (or less). The ASPM has also been used to predict the enthalpies of solvation of organic solutes dissolved in the following solvents: acetic acid, dimethyl carbonate, diethyl carbonate, 1-butanol, 1-pentanol, 1-hexanol. The derived enthalpy of solvation correlations, using the L solute descriptor, describe the experimental data to within 2.50 log units (or less). The derived enthalpy of solvation correlations, using the V solute descriptor, describe the experimental data to within 3.10 log units (or less). Validation analyses have been performed on several of the correlations; and, as long as the solute descriptors fall within the given ranges as reported, the original correlations show good predictive ability for determining 1) solute transfer into, and 2) enthalpy of solvation for the aforementioned solvents.
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Heinzel, Lukáš. "Analýza faktorů ovlivňujících cenu akcií významných světových pojišťoven." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-197796.
Повний текст джерелаАнотація:
The aim of this work is the analysis of factors, which influence price of insurance companies' stock. This work firstly contents definition of basic differences in the space, which insurance company does business in and regular manufacturing plant or sales company. Emphasis is put on controlling risks and regulation of insurance companies. The main part of work is fundamental analysis of 3 european insurance companies. The analysis of each macroeconomics quantity and the stock rate uses correlative coefficients. This work researchs, whether in case of relationship of progress of stock rates and quantities of economics holds regular conclusion, which are described in literature of economics or whether not. Whole fundamental analysis further complete sectoral analysis with development of main characteristics of european insurance market and companies' analysis, where are different proportion indicatiors compared.
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Дутченко, Олена Олегівна, Елена Олеговна Дутченко та Olena Olehivna Dutchenko. "Банківське кредитування на основі врахування галузевих особливостей позичальника". Thesis, Українська академія банківської справи Національного банку України, 2011. http://essuir.sumdu.edu.ua/handle/123456789/51374.
Повний текст джерелаАнотація:
Дисертацію присвячено розробці теоретико-методичних підходів до проведення банківського кредитування на основі врахування галузевих особливостей позичальника та опрацюванню практичних рекомендацій щодо їх удосконалення.
Запропоновано перелік складових компонент моделі банківського кредитування та ознак галузевого фактора. Досліджено тенденції розвитку галузей національної економіки. Обґрунтовано необхідність удосконалення існуючих підходів до банківського кредитування. Запропоновано підходи до визначення кредитного рейтингу позичальника та розміру заставного забезпечення, особливостями якого є використання критерію, що характеризує загальний макроекономічний стан галузі позичальника. Обґрунтовано необхідність врахування тенденцій розвитку галузей економіки при проведенні моніторингу кредитної операції.
У роботі розроблено підхід до комплексного врахування галузевих особливостей позичальника на етапах оцінки його кредитоспроможності, визначення розміру заставного майна та моніторингу кредитної операції, що дозволить підвищити рівень ефективності банківського кредитування.Dissertation is devoted to the development of the theoretical and methodological approaches to the bank lending with provision for the borrower’s industry particularities and elaboration of practical recommendations for its improvement. The list of components of the bank lending model and peculiarities of the industry factor are offered in the work. Trends of the development of industry of the national economy have been explored. The necessity for improving the existing approaches to the bank lending and accounting the trends of the national economy industries in monitoring credit operations are determined. The approach to defining the borrower’s credit rating and the size of the collateral is suggested. Its peculiarity is to use the criterion, which determines the state of the borrower’s industry. The approach to complex accounting of the borrower’s industry particularities at the stages of estimating its solvency and determining the collateral size is developed in the work.
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Chowdhury, Mahabubur Rahman. "Solvent dependent growth of one-dimensional crystalline ß-FeOOH nanorods." Thesis, Cape Peninsula University of Technology, 2014. http://hdl.handle.net/20.500.11838/928.
Повний текст джерелаАнотація:
Thesis submitted in fulfilment of the requirements for the degree
DOCTOR TECHNOLOGIAE: ENGINEERING: CHEMICAL
in the
FACULTY OF ENGINEERING
at the
CAPE PENINSULA UNIVERSITY OF TECHNOLOGY
2014Several authors have reported on the use of alcohols – water /or mixed solvents to synthesise metal oxide nanoparticles. However, no systematic study has been carried out to evaluate the effect of mixed solvent on the particle characteristics, although considerable research has been reported, a gap still exists with regard to the effect of the alcohols as solvents on the growth kinetics of nanoparticles. To address these issues, four different alcohols, namely, methanol (MeOH), ethanol (EtOH), propanol (PrOH) and butanol (BuOH) were used as solvents in the synthesis of β-FeOOH particles. The effect of organic solvents on the growth kinetics of β-FeOOH nanorods has been evaluated for the first time in this study. Two-stage growth of akaganeite nanorods has been observed in BuOH and PrOH. The first growth stage follows a typical power law representing Ostwald ripening (OR) kinetic. The second stage was found to be asymptotic and obeyed oriented attachment (OA) kinetic. The proof of the OA kinetic also comes from the HRTEM images of the synthesised particles. Simultaneous occurrence of the two mechanisms was observed in the growth of the particles synthesised in EtOH and MeOH. The rate constants for OR kinetic, KOR, was found to be higher than the rate constant for OA kinetic, KOA, for different solvents used. Preamble The use of a mixed solvent is a new approach in the synthesis and processing of materials. Various researchers have stated that the surface tension of the solvent plays an important role in the formation of uniform nanorods. However, the effect of surface tension was not correlated with the particle growth, earlier, though the dielectric properties of the mixed solvents were only taken into account. Additionally, no quantitative or qualitative relationship was presented between surface tension and particle growth in the literature. In this work an attempt to correlate these two parameters (surface tension and particle growth) with the concentration of the precursor and temperature was made, resulting in an exponential relationship between KOR for the particle growth and surface tension of the alcohols. Furthermore, the relationship between surface tension and particle growth was validated by an independent study using statistically designed experiments to account for the influence of various process variables on the particle growth. The findings in this study obtained from both theoretical and experimental work provides an insight into the relationship between solvent surface tension and particle growth interactions, producing a new piece of information that will further promote our understanding of the formation mechanisms of β- FeOOH growth. The transformation temperature of akaganeite (β-FeOOH) nanorods to hematite (α-Fe2O3) particles was found to be solvent dependent. Thermogravimetric analysis and differential scanning calorimetry were performed to evaluate the effect of alcohol on the thermodynamic stability of the particles. Alcohol as solvent played a significant role in the dehydration property of the synthesised particles. The percentage mass loss of the particles at 300°C decreases linearly with increasing carbon number in the linear alkyl chain of the solvent. The effect of alcohol type on the particle morphology was found to be more pronounced at higher FeCl3 concentrations (>0.5M). Splitting of β-FeOOH nanorods was observed at FeCl3 concentration of 0.7M in BuOH. In PrOH, rectangular morphologies were obtained whereas nanoribbons resulted in surfactant-free conditions. It was found that the nature of anions (chloride vs. nitrate and sulphate) in the precursor salt also influenced the morphology.
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Dahamani, Sabani. "Trilemma analysis in a P&C insurance company (assets & liabilities, equity and risk)." Master's thesis, Instituto Superior de Economia e Gestão, 2016. http://hdl.handle.net/10400.5/12809.
Повний текст джерелаАнотація:
Mestrado em Ciências ActuariaisEste projeto constitui uma componente de uma análise mais vasta e muito relevante no âmbito do estudo de uma companhia de seguros Não Vida, relativamente à situação financeira, gestão de ativos e passivos, bem como aos possíveis riscos no âmbito do regime prudencial Solvência II. Para além destes pontos, são ainda relevantes as implicações deste novo regime nos interesses dos principais stakeholders. Tendo em conta as informações disponíveis, trata-se do primeiro projeto que faz uso de um modelo Dynamic Financial Analysis (DFA) para o cálculo do Requisito de Capital de Solvência (SCR) baseado na fórmula padrão, definida pela European Insurance and Occupational Pensions Authority (EIOPA). A ideia fundamental neste trabalho é estabelecer para companhias do setor Não Vida as indicações sobre a utilização de modelos DFA numa análise integrada, tendo em conta a avaliação de Ativos e Passivos, Capital Próprio, Risco, assim como as estimativas atuariais, segundo o regime Solvência II. O propósito fundamental deste projeto, através da utilização de uma ferramenta como o DFA, centra-se em estabelecer uma metodologia que permita um compromisso entre a gestão financeira de uma companhia de seguros Não Vida (por exemplo, rendimentos, resultados, dividendos, etc), a gestão dos ativos e passivos da companhia (assegurando que os passivos da companhia estão devidamente financiados por um portfolio de ativos), e o impacto desta gestão no SCR da companhia, em linha com as orientações de Solvência II. Para responder à necessidade de elaborar projeções financeiras e integrar as diferentes perspetivas, foi proposto um modelo DFA.
This project forms part of a wider and vibrant conversation pertaining to the analysis of a Property and Casualty (P&C) insurance company´s finances, assets & liabilities, and the possible risks in the company in relation to the legislative parameters of the Solvency II Regime, and the wider implication of this for the core stakeholders of interest. To the best of my knowledge, it is the first project that deploys the use of a Dynamic Financial Analysis (DFA) model for the calculations of the Solvency Capital Requirement (SCR) based on the SCR standard given by European Insurance and Occupational Pensions Authority (EIOPA) The fundamental idea here is to provide perspectives into how the use of DFA models could be integrated into the valuation of Assets & Liabilities, Equity and Risk into providing empirical actuarial credence to companies whose business concerns spins around property and casualty, under the legal framework Solvency II Regime, under European Union (EU) and EIOPA guidelines. The main purpose of this thesis is to find an equilibrium for managing a P&C insurance company's finances (for example, earnings, returns, dividends, etc.) under a regime very demanding of capital, management of the company's assets and liabilities (ensuring that the company's liabilities are properly funded by a portfolio of assets), and the impact of these managements on the SCR of the company in line with Solvency II directives. In order to properly manage and make financial projections of the company, a DFA model was thus proposed.
N/A
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Richtrová, Kateřina. "Hodnocení klienta banky." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2015. http://www.nusl.cz/ntk/nusl-225063.
Повний текст джерелаАнотація:
The master’s thesis deals with the topic of the use of artificial intelligence for managerial decision making in the firm. This thesis contains proposal of model of fuzzy logic in MS Excel and MATLAB for evaluation of the client’s solvency of bank for the purposes of loan providing.
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Чайка, Тетяна Юріївна, та Єлізавета Олександрівна Жернова. "Проблема відбору базових метрик коефіцієнтного експрес-аналізу фінансової звітності". Thesis, Національний технічний університет "Харківський політехнічний інститут", 2019. http://repository.kpi.kharkov.ua/handle/KhPI-Press/41621.
Повний текст джерелаАнотація:
Метою даного дослідження є пошук максимально обмеженого набору метрик, які відображають основні компоненти діяльності підприємства та є придатними для проведення експрес-аналізу. Представлена запропонована в даному дослідженні система коефіцієнтів експрес-аналізу фінансової звітності. По кожному з представлених напрямів аналізу існує велика кількість коефіцієнтів і методик їх розрахунку, але ідеологія експрес-аналізу передбачає мінімізацію їх числа, в ідеалі, до одного показника по кожному з напрямків. Тому коефіцієнти відібрані, виходячи з принципу максимально загального презентування відповідного напряму аналізу.The purpose of this study is to find and clarify the most limited set of metrics that reflect the main directions of assessing the success and condition of the enterprise and are suitable for conducting rapid analysis. The system of coefficients for express analysis of financial statements proposed in this study is presented. For each of the presented areas of analysis, there are a large number of coefficients and methods for calculating them, but the ideology of express analysis implies minimizing their number, ideally, to one indicator for each of the areas. Therefore, the coefficients are selected on the basis of the principle of the most general representation of the relevant direction of analysis.
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Mauve, Caroline. "Production et hydrolyse des amides : mécanismes chimiques, isotopie et applications : étude de la glutamine synthétase." Thesis, Paris 11, 2014. http://www.theses.fr/2014PA112397.
Повний текст джерелаАнотація:
La nutrition azotée des bactéries et des plantes est actuellement un sujet de grande importance, notamment pour comprendre comment améliorer les voies métaboliques aboutissant à l’assimilation de l’azote et à plus grande échelle, optimiser des apports d’engrais et augmenter le rendement des cultures. Dans ce contexte, la réaction d’amidation catalysée par la glutamine synthétase (GS), qui fixe l’ammonium (NH₄)⁺ en glutamine, est cruciale car elle est à la fois le point d’entrée de l’azote dans les végétaux, et une étape-clef du recyclage de l’azote (en particulier, NH₄⁺ photorespiratoire). Dans cette étude, nous nous sommes intéressés à la cinétique enzymatique et au mécanisme chimique de la GS. Des systèmes analytiques (HPLC, RMN , GC-MS) ont été optimisés pour permettre la mesure de l’activité enzymatique in vitro et pour réaliser des analyses par spectrométrie de masse à ratio isotopique. Avec ces techniques, nous avons pu regarder précisément les effets isotopiques ¹²C/¹³C, ¹⁴N/¹⁵N et H₂O/D₂O (solvant) lors de la catalyse, en utilisant la GS d’E. coli et d’Arabidopsis thaliana (GS1,2). Nos résultats montrent qu’il n’y a pas d’effet isotopique ¹²C/¹³C, mais qu’il y a un fractionnement ¹⁴N/¹⁵N de »16‰. En outre, il y a un effet inverse du solvant (réaction 1.5 à 2 fois plus rapide dans D₂O). Cela suggère que la création de la liaison C----N (amidation) est partiellement limitante (engagement catalytique de »14% seulement) et que le réseau de ponts hydrogènes dans le site actif est crucial pour déterminer la vitesse de la réaction. L’apparition d’effets ¹⁴N/¹⁵N inverses dans certaines circonstances et les effets drastiques causés par une substitution du cofacteur métallique (Mg²⁺) suggèrent en outre que l’étape d’amidation peut être réversible et que la coordination par un métal joue un rôle très important pour stabiliser les intermédiaires de la réaction, en interaction avec le solvant. Ainsi, dans son solvant naturel qu’est H₂O, la GS réalise une réaction ‘chimiquement difficile’ (barrière énergétique élevée de l’amidation) rendue possible par le clivage de l’ATP et son caractère exergoniqueNitrogen nutrition in bacteria and plants is currently an important topic, in particular to identify key points for metabolic improvements in N assimilation and more generally, to optimize fertilization and crop yield. In such a context, the amidation reaction catalyzed by glutamine synthetase (GS), which fixes ammonium (NH₄)⁺ into glutamine, is of crucial importance since it both represents the N entry in plants and the main step of N recycling (such as photorespiratory (NH₄)⁺. Here, we examined GS kinetics and chemical mechanism. Analytical methods (HPLC, NMR, GC-MS) have been set up so as to measure in vitro activities and isotopic abundance by isotope ratio mass spectrometry. These gave access to isotope effects (¹²C/¹³C, ¹⁴N/¹⁵N et H₂O/D₂O – solvent) during catalysis, with the GS from either E. coli or A. thaliana (GS1,2). Our results show that there no ¹²C/¹³C isotope effect but there is significant ¹⁴N/¹⁵N isotope fractionation of ca. 16‰. In addition, there is an inverse solvent isotope effect (reaction 1.5 to 2 times faster in D₂O). This suggests that forming the C----N bond (amidation) is partially rate-limiting (catalytic commitment of ca. 14% only) and the H-bond network in the active site is of substantial importance for the reaction rate. The occurrence of inverse ¹⁴N/¹⁵N isotope effects under certain circumstances as well as the drastic impact of changing the metal cofactor (Mg²⁺)) indicate that the amidation step can be reversible and that the coordination by the metal plays a key role in stabilizing reaction intermediates, by interfacing the solvent. In other words, in its natural solvent H₂O, the GS catalyses an intrinsically ‘difficult’ reaction (high energy barrier of amidation) made possible by both ATP cleavage and its exergonic nature
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Almeida, Pedro Gonçalo Silva. "Basileia III : estudo sobre buffer de capital anticíclico : aplicação a Portugal." Master's thesis, Instituto Superior de Economia e Gestão, 2011. http://hdl.handle.net/10400.5/10212.
Повний текст джерелаАнотація:
Mestrado em FinançasA implementação do Acordo de Basileia III, no período que medeia entre 01/01/2013 e 01/01/2019, corresponde a uma profunda mudança do quadro de referência que rege as Instituições Financeiras. Daí resultam mudanças significativas relacionadas com o papel das entidades reguladoras, o acréscimo das exigências de capital e a promoção de novos vectores de gestão e mensuração dos riscos (entre os quais se destacam o rácio de alavancagem sem considerar a ponderação do risco e a criação de requisitos mínimos associados à liquidez). Uma das novas medidas inseridas neste quadro é a criação de mecanismos que restrinjam a ciclicidade dos requisitos de capital, ou seja, vão-se procurar soluções que elevem os níveis de solvência em períodos expansionistas do ciclo económico e que os reduzam em períodos recessivos. No decurso desta dissertação é explorada a metodologia para a criação de reservas de capital anti-cíclicas promovida pelo Comité de Basileia, sendo a mesma aplicada à realidade portuguesa testando a sua eficácia e identificando eventuais lacunas. Para além dessa metodologia são identificadas metodologias alternativas que possam levar à concretização do objectivo pretendido.
The implementation of the Basel III reforms, between 01/01/2013 and 01/01/2019, corresponds to a deep change within the scenario and reference frame that manages the Financial Institutions, from which results some significant changes related to the role of the regulators. Namely: the addition of capital buffers and the promotion of new management guidelines and risk measurement (amongst which stands out the leverage ratio without considering the risk evaluation and the creation of minimum requirements related to liquidity). One of these new measures is the creation of mechanisms that restrict the cyclicity of the bank capital requirements, ie, the search for solutions that may increase solvency levels during this economical cycle expansionary periods and the search for solutions that may decrease those same levels during recessions. During this dissertation I'll explore the methodology used to create anti-cyclical bank reserves promoted by the Basel Committee. The idea is to apply these measurements to the Portuguese scenario by testing its effectiveness and identifying any gaps. Besides that, herein lie some alternative methodologies that may lead to the achievement of the intended goal.
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Almeida, Pedro Gonçalo da Silva. "Basileia III : estudo sobre buffer de capital anticíclico : aplicação a Portugal." Master's thesis, Instituto Superior de Economia e Gestão, 2011. http://hdl.handle.net/10400.5/4592.
Повний текст джерелаАнотація:
Mestrado em FinançasA implementação do Acordo de Basileia III, no período que medeia entre 01/01/2013 e 01/01/2019, corresponde a uma profunda mudança do quadro de referência que rege as Instituições Financeiras. Daí resultam mudanças significativas relacionadas com o papel das entidades reguladoras, o acréscimo das exigências de capital e a promoção de novos vectores de gestão e mensuração dos riscos (entre os quais se destacam o rácio de alavancagem sem considerar a ponderação do risco e a criação de requisitos mínimos associados à liquidez). Uma das novas medidas inseridas neste quadro é a criação de mecanismos que restrinjam a ciclicidade dos requisitos de capital, ou seja, vão-se procurar soluções que elevem os níveis de solvência em períodos expansionistas do ciclo económico e que os reduzam em períodos recessivos. No decurso desta dissertação é explorada a metodologia para a criação de reservas de capital anti-cíclicas promovida pelo Comité de Basileia, sendo a mesma aplicada à realidade portuguesa testando a sua eficácia e identificando eventuais lacunas. Para além dessa metodologia são identificadas metodologias alternativas que possam levar à concretização do objectivo pretendido.
The implementation of the Basel III reforms, between 01/01/2013 and 01/01/2019, corresponds to a deep change within the scenario and reference frame that manages the Financial Institutions, from which results some significant changes related to the role of the regulators. Namely: the addition of capital buffers and the promotion of new management guidelines and risk measurement (amongst which stands out the leverage ratio without considering the risk evaluation and the creation of minimum requirements related to liquidity). One of these new measures is the creation of mechanisms that restrict the cyclicity of the bank capital requirements, ie, the search for solutions that may increase solvency levels during this economical cycle expansionary periods and the search for solutions that may decrease those same levels during recessions. During this dissertation I'll explore the methodology used to create anti-cyclical bank reserves promoted by the Basel Committee. The idea is to apply these measurements to the Portuguese scenario by testing its effectiveness and identifying any gaps. Besides that, herein lie some alternative methodologies that may lead to the achievement of the intended goal.
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Mareček, Miroslav. "Ekonomická analýza podniku ArcelorMittal Ostrava, a. s." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-201787.
Повний текст джерелаАнотація:
Diploma thesis deals with the Economic analysis of a company ArcelorMittal Ostrava, a. s. and evaluates its economic condition from 2010 until 2014. Thesis involves strategic analysis and financial analysis. Author describes the topic with a perspective of an external analyst and used companys annual report as his fundamental source. The strategic analysis is based on its micro and macro environment and SWOT analysis as well. The Financial analysis includes calculation of absolute, differential and ratio indicators. On top of that financial analysis contains the pyramid decomposition of the return on equity, economic value added, the bankruptcy and solvency models and comparison among other companies. Based on his research author concludes with recommendations which could lead to improvement of companys economic and market position. Most important findings are summarized and companys condition is evaluated at the end of this thesis.
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Fojtů, Kateřina. "Hodnocení finančního zdraví vybraného podniku a návrhy na jeho zlepšení." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2011. http://www.nusl.cz/ntk/nusl-222887.
Повний текст джерелаАнотація:
The Diploma thesis is focused on evaluation the financial health of company by methods of financial analysis. Financial analysis will be performed by analyzing ratio system and further using analysis of absolute, ratio and differential indexes. The solutions for the company will be based on the results of financial analysis, which could help to improve actual situation of company.
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Plachá, Marie. "The impact of our membership of European Union on Czech insurance market." Master's thesis, Vysoká škola ekonomická v Praze, 2008. http://www.nusl.cz/ntk/nusl-9619.
Повний текст джерелаАнотація:
The impact of our membership of European Union on Czech insurance market - EU Law Directions and their consequences for insurance market including changes in compulsory Road Traffic Act Insurance, experience tables, rating, IFRS 4 and Solvency II
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Msahazi, Abdillah. "La préservation du système bancaire par la régulation : l'exemple du système bancaire comorien." Thesis, Paris 5, 2014. http://www.theses.fr/2014PA05D012.
Повний текст джерелаАнотація:
Cette Thèse de sciences de gestion, se propose d’élucider les difficultés que rencontrent les acteurs du système bancaire comorien et apporter des solutions afin de lui garantir sa solidité, stabilité et enfin sa pérennité. Elle est divisée en deux parties. La première porte plus particulièrement sur le cadre national et internationale du système bancaire comorien. La deuxième met en évidence les banques comoriennes confrontées à la transparence financière et aux exigences de supervision prudentielle. Le premier titre de la première partie, tâche à mettre en lumière l’organisation actuelle du système bancaire comorien inspiré du modèle français (chapitre 1) et l’apport du développement récent de la finance islamique (chapitre 2) afin de combler le retard de la banque conventionnelle. La réorganisation de la Banque Centrale des Comores et la mise en place de la banque islamique locale, peuvent contribuer au changement radical du système bancaire comorien. Le deuxième titre, permet au régulateur et prêteur en dernier ressort (Banque Centrale des Comores) de prendre le modèle des normes prudentielles internationales proposées par le Comité de Bâle (Bâle II et III), pour réguler le système bancaire comorien afin de lui garantir sa solidité, stabilité et enfin sa pérennité (chapitre 1). A travers ces recommandations du comité de Bâle, nous avons apporté des solutions en élaborant la Matrice Msahazi Credit Scoring Corporation, destinée aux analyses des données des banques comoriennes contre un risque endogène (Chapitre2). Nous avons aussi élaboré d’autres matrices que les banques comoriennes se serviront pour la notation interne, des risques de contreparties (entreprises et particuliers) afin de lutter contre le risque exogène. La deuxième partie de cette Thèse suggère deux autres solutions : la première est l’exigence de transparence financière des banques comoriennes (Pilier 3 : Bâle2 et 3) afin de lutter contre les malversations financières orchestrées par certains agents (titre I). Le premier chapitre introduit l’objectif de la communication financière de manière générale et la manière dont le comité de Bâle (Bâle 2 et 3) recommande les banques de communiquer leurs informations financières (méthodes d’évaluations des risques et fonds propres). Le deuxième chapitre propose aux banques comoriennes et aux autorités de contrôles, les techniques de notation financière pratiquées au niveau internationale pour distinguer le niveau de solvabilité de la contrepartie. La deuxième solution, nous avons donné à la Banque Centrale des Comores, des techniques pour renforcer la supervision prudentielle (Pilier 2, Bâle 2 et 3), (titre II). Le premier chapitre exige d’une part la direction et le conseil d’administration de la banque de définir les techniques de contrôles, d’indentifications, d’évaluations, gestions des risques et les objectifs de fonds propre à atteindre. D’autre part, l’autorité de contrôle (Banque centrale des Comores) doit passer au crible tous ces outils de contrôle. Au deuxième et dernier chapitre de la recherche, nous avons proposé à la Banque Centrale des Comores des nouvelles méthodes de supervision prudentielle afin de garantir la solidité, stabilité et pérennité du système bancaire. Nous avons l’espoir que l’ensemble de ces suggestions contribueront à préserver la solidité, stabilité et pérennité du système bancaire comorien afin de financer le développement de l’économie comorienne et sortir le pays de la pauvretéThis thesis on busness management, aims to elucidate the difficulties faced by the stakeholders of the Comorian banking system and to provide solutions to ensure its soundness, stability and sustainability. The thesis is divided into two parts. The first focuses specifically on the national and international context of the Comorian banking system. The second, highlights how the Comorian banks should adapt to the financial transparency and prudential supervision requirements. The first title of the first part, tries toshed light on the current organization of the Comorian banking system based on the French model (Chapter 1) and the contribution of the recent development of Islamic finance (Chapter 2) to close the gap in conventional banking. The reorganization of the Central Bank of the Comoros and the establishment of the local Islamic bank can contribute to a radical change in the Comorian banking system. The second title allows the regulator and lender of last resort (Central Bank of the Comoros ) to take the model of international prudential standards proposed by the Basel Committee (Basel II and III) to regulate the Comorian banking system in order to guarantee its soundness, stability and finally sustainability (Chapter 1). Through these recommendations of the Basel committee, we have provided solutions by developing Msahazi Credit Scoring Matrix Corporation, intended to analyse data of Comorian banks against endogenous risk (Chapter 2). We have also developed matrices other than Comorian banks used for internal rating of the counterparty risk (companies and individuals) to fight against exogenous risk. The second part of this thesis suggests two alternatives: the first is the requirement of financial transparency for Comorian banks (Pillar 3: Basel Conventions 2 and 3) in order to fight against embezzlement orchestrated by certain agents (Title I). The first chapter introduces the objective of financial reporting in general, and how the Basel Committee (Basel 2 and 3) asks banks to disclose their financial information (methods of risk assessments and equity). The second chapter provides credit rating techniques practiced at international level to the Comorian banks and supervisory authorities in order to distinguish the level of creditworthiness of companies and clients concerned. The second alternative we have given to the Central Bank of the Comoros is the techniques for strengthening prudential supervision (Pillar 2, Basel 2 and 3), (Title II) . The first chapter requires both the management and the bank's board of directors to define control techniques, identifications, assessments, risk managements and core capital goals. On the other hand, the supervisory authority (Comoros Central Bank) has to go through all these control tools. In the second and final chapter of the research, we propose to the Central Bank of the Comoros new prudential supervision methods to ensure the soundness, stability and sustainability of the banking system. We hope that all of these suggestions will help to preserve the soundness, stability and durability of the Comorian banking system in order to finance the development of the Comorian economy and lift the country out of poverty
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Lopes, Sara Bárbara Dutra. "Real World Economic Scenario Generator." Doctoral thesis, Instituto Superior de Economia e Gestão, 2020. http://hdl.handle.net/10400.5/21442.
Повний текст джерелаАнотація:
Doutoramento em Matemática Aplicada à Economia e GestãoNeste trabalho apresentamos uma metodologia para simular a evolução das taxas de juros sob medida de probabilidade real. Mais precisamente, usando o modelo de mercado Shifted Lognormal LIBOR multidimensional e uma especificação do vetor do preço de mercado do risco, explicamos como realizar simulações das taxas de juro futuras, usando o método de Euler-Maruyama com preditor-corretor. A metodologia proposta permite acomodar a presença de taxas de juro negativas, tal como é observado atualmente em vários mercados. Após definir a estrutura livre de default, generalizamos os resultados para incorporar a existência de risco de crédito nos mercados financeiros e desenvolvemos um modelo LIBOR para obrigações com risco de crédito classificadas por ratings. Neste trabalho modelamos diretamente os spreads entre as classificações de ratings de acordo com uma dinâmica estocástica que garante a monotonicidade dos preços dos títulos relativamente às classificações por ratings.
In this work, we present a methodology to simulate the evolution of interest rates under real world probability measure. More precisely, using the multidimensional Shifted Lognormal LIBOR market model and a specification of the market price of risk vector process, we explain how to perform simulations of the real world forward rates in the future, using the Euler-Maruyama scheme with a predictor-corrector strategy. The proposed methodology allows for the presence of negative interest rates as currently observed in many markets. After setting the default-free framework we generalize the results to incorporate the existence of credit risk to our model and develop a LIBOR model for defaultable bonds with credit ratings. We model directly the inter-rating spreads according to a stochastic dynamic that guarantees the monotonicity of bond prices with respect to the credit ratings.
info:eu-repo/semantics/publishedVersion
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Carlos, Gustavo Barreto Bernardo. "Asset portfolio of an health insurer : the multicare case." Master's thesis, Instituto Superior de Economia e Gestão, 2014. http://hdl.handle.net/10400.5/7686.
Повний текст джерелаАнотація:
Mestrado em FinançasA Indústria Seguradora tem várias particularidades, mas eventualmente uma das mais importantes é a incerteza relativamente aos cash flows futuros, devido à natureza imprevisível de catástrofes naturais ou doenças, no caso dos seguros de saúde. Todavia, as seguradoras tentam gerir o risco, entre outras formas, utilizando técnicas de Gestão de Activos-Passivos. De qualquer modo, devido à dificuldade em prever com exactidão os passivos futuros, ao alinhar as maturidades de activos e passivos pode criar uma desarticulação entre ambos, caso acontecimentos inesperados ocorram e os custos com sinistros sejam bastante maiores do que o estimado. Como tal, este estudo visa encontrar uma abordagem alternativa à escolha da carteira de investimentos: ao estabelecer um floor razoável para o rácio de financiamento, procura rentabilizar-se os fundos excedentários de forma a atingir melhores rentabilidades que podem ser úteis como almofadas de capital em períodos com maiores taxas de sinistralidade, ao mesmo tempo que se procura encontrar um equilíbrio nas proporções entre classes de activos, de forma a não penalizar os requisitos de capital da seguradora, ao abrigo do estabelecido na Directiva Solvência II. Para este fim foi rastreado o índice EUROSTOXX 600, o benchmark do mercado accionista utilizado neste estudo, aplicando critérios pré-estabelecidos a partir dos quais foi possível chegar a uma carteira de acções, utilizando os pressupostos do Modelo de Índice Único (MIU). Por fim, tanto o portfolio original como o que foi calculado, foram avaliados em função dos respectivos rácios de Sortino.
The Insurance Industry has many particularities, but probably one of the most important is the uncertainty regarding future cash flows, due to the unpredictability nature of future catastrophes or illnesses, in the case of health insurance. Nonetheless, insurers try to manage risk, among others, by using Asset-Liability Management (ALM) techniques, which rely mainly on future cash flow matching between assets and liabilities, according to the company's expected future responsibilities. However, as liabilities are difficult to predict in an accurate way, indexing assets to the liabilities' maturities can create a mismatch should unforeseen events occur and claims costs develop worse than expected. As such, this study aims an alternative approach to portfolio selection: by establishing a reasonable floor value to the funding ratio, it tries to monetize the surplus funds to achieve greater returns which can be used as buffers in periods with higher loss ratios, while attempting to find an equilibrium asset mix not to penalize the company?s capital requirements under the Solvency II Directive. For this purpose, the EUROSTOXX 600, the stock benchmark used in this study, was screened using specified criteria and from which a portfolio of stocks was chosen under the Single Index Model (SIM) assumptions. Lastly, the current and the new portfolio were measured against each other using the respective Sortino ratios.
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Aziz, Saqib. "Three Essays on Mergers and Acquisitions and Bank Stability." Thesis, Rennes 1, 2016. http://www.theses.fr/2016REN1G005/document.
Повний текст джерелаАнотація:
Cette thèse est constituée de trois essais sur les activités de fusions-acquisitions (F&A) des banques et leurs effets sur la stabilité du secteur bancaire. Le premier essai analyse l’intensité de l’activité F&A des grandes banques Européennes au cours d'une période vaste de 1990-2006 et les liens avec les mesures de sauvetages et les notations de crédit pendant la crise financière de 2007-2009. Trois résultats importants sont mis en évidence à partir de notre étude. En premier lieu, l'intensité de l'activité F&A est liée positivement à la probabilité de sauvetage pendant la crise financière. En second lieu, cette intensité des activités de F&A est liée à la détérioration des notations des émetteurs, suggérant ainsi un risque de défaut plus élevé des banques acquéreuses pendant la période de crise. Enfin, on constate un lien positif entre les mesures de protection gouvernementales et l'effet combiné des activités de F&A et du facteur « too big to fail ». Ceci laisse penser que les banques peuvent poursuive leurs activités de F&A pour exploiter des avantages de protection liés à leur statut de « too big to fail ». Le second essai analyse la relation entre les activités de F&A de grandes banques Européennes et leur vulnérabilité à la crise financière en utilisant l’indicateur DD de Merton (1974) et le ratio de Z-score comme mesures de risque de faillite et de solvabilité. Les résultats mettent en évidence que les stratégies d’acquisition de banques d'investissements sur une période de 1990-2006 sont liées significativement à l'augmentation en leur risque de défaut (mesuré par DD) et l'insolvabilité (mesuré par le Z-score) pendant la crise financière récente. Le troisième et dernier essai s’intéresse aux relations entre les opérations de F&A et les évolutions de la déréglementation bancaire et des réformes de régulation bancaire mises en place aux Etats-Unis. Nous analysons principalement les effets de deux actes de déréglementation significatifs des années 1990 qui ont permis aux banques américaines de s’étendre à travers les états (acte de Riegle-Neal de 1994 et acte de Gramm-Leach-Bliley de 1999). Nous comparons les activités de F&A des banques américaines avec comme groupe de contrôle les banques européennes sur la période 1990-2009. Nous constatons un effet significativement positif de la déréglementation sur les activités de F&A dans le secteur bancaire américain. Cependant, on peut remarquer que les effets constatés ne sont pas forcément les effets souhaités ou visés par les deux actes de déréglementation. De plus, nous montrons que l'intensité des activités de F&A et la déréglementation provoquent conjointement un effet négatif sur la stabilité du secteur bancaire américain, justifiant ainsi le lien souvent établi entre la concentration du système bancaire et sa fragilitéThis dissertation consists of three essays on mergers and acquisitions (M&A) activity of banks and various dimensions of their stability. The first essay delves upon whether and how acquisitiveness of large European banks over an extensive period of 1990-2006 relate to their bailouts and credit ratings during the financial crisis of 2007-2009. Three important findings emerge from the performed analysis. First, the intensity of bank M&A activity positively relates to the likelihood and extent of their bailout support during the financial crisis. Second, the ex-ante acquisitiveness of banks relates in a significantly positive manner with the deterioration in bank issuer ratings – suggesting towards higher default risk of acquisitive banks during the crisis period. Third, a positive link between the external support and the joint effect of M&A activity and “too big to fail” factor substantiates that banks may pursue M&A activity to exploit safety net benefits associated with “too big to fail” status in the market. The second chapter analyzes the relation between M&A activity of large European banks and their vulnerability to the financial crisis using Merton (1974) based distance to default (DD) and the Z-score ratio as a measure of bankruptcy risk and solvency. The results suggest that a greater focus of samples banks towards acquiring investment banking operations over a time span of 1990-2006 significantly relates to the increase in their risk default (measured by DD) and insolvency (measured by Z-score) during the recent financial crisis. Moreover, relatively limited evidence indicates towards the positive stability effects of the acquisitions performed in the retail banking segment of industry by the sample banks. The third and final essay of this dissertation provides M&A centric evidence on bank deregulation, consolidation, and stability in the U.S. banking industry. We primarily analyze the effects of two significant deregulatory acts of the 1990s that permitted U.S. banks to expand across states (the Riegle-Neal act of 1994) and functions performed (the Gramm-Leach-Bliley act of 1999). We employ difference-in-difference approach over M&A activity of U.S. (treatment group) and European (control group) banks over a time span of 1990-2009 in an unbalanced panel setting. We find a significantly positive effect of deregulation in spurring M&A centric consolidation in the U.S. banking industry. However, such effects are not fully reflected in the types of diversification aimed at in the two deregulatory acts. Moreover, we also show that M&A intensity and deregulation jointly cast a negative effect on the stability of U.S. banking industry –thus substantiating “Concentration – Fragility” view over banking
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Ajaxon, Ingrid. "Can Bone Void Fillers Carry Load? : Behaviour of Calcium Phosphate Cements Under Different Loading Scenarios." Doctoral thesis, Uppsala universitet, Tillämpad materialvetenskap, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-316656.
Повний текст джерелаАнотація:
Calcium phosphate cements (CPCs) are used as bone void fillers and as complements to hardware in fracture fixation. The aim of this thesis was to investigate the possibilities and limitations of the CPCs’ mechanical properties, and find out if these ceramic bone cements can carry application-specific loads, alone or as part of a construct. Recently developed experimental brushite and apatite cements were found to have a significantly higher strength in compression, tension and flexion compared to the commercially available CPCs chronOS™ Inject and Norian® SRS®. By using a high-resolution measurement technique the elastic moduli of the CPCs were determined and found to be at least twice as high compared to earlier measurements, and closer to cortical bone than trabecular bone. Using the same method, Poisson's ratio for pure CPCs was determined for the first time. A non-destructive porosity measurement method for wet brushite cements was developed, and subsequently used to study the porosity increase during in vitro degradation. The compressive strength of the experimental brushite cement was still higher than that of trabecular bone after 25 weeks of degradation, showing that the cement can carry high loads over a time span sufficiently long for a fracture to heal. This thesis also presents the first ever fatigue results for acidic CPCs, and confirms the importance of testing the materials under cyclic loading as the cements may fail at stress levels much lower than the material’s quasi-static compressive strength. A decrease in fatigue life was found for brushite cements containing higher amounts of monetite. Increasing porosity and testing in a physiological buffer solution (PBS), rather than air, also decreased the fatigue life. However, the experimental brushite cement had a high probability of surviving loads found in the spine when tested in PBS, which has previously never been accomplished for acidic CPCs. In conclusion, available brushite cements may be able to carry the load alone in scenarios where the cortical shell is intact, the loading is mainly compressive, and the expected maximum stress is below 10 MPa. Under such circumstances this CPC may be the preferred choice over less biocompatible and non-degradable materials.
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Ткаченко, Н. В. "Фінансова стійкість страхових компаній (методологія оцінки та механізми забезпечення)". Thesis, Українська академія банківської справи Національного банку України, 2011. http://essuir.sumdu.edu.ua/handle/123456789/51393.
Повний текст джерелаАнотація:
У дисертації обґрунтовано теоретико-методологічні засади забезпечення фінансової стійкості страхових компаній, які здійснюють ризикове страхування, шляхом розвитку методології її оцінки та механізмів забезпечення.
Обґрунтовано концепцію забезпечення фінансової стійкості страхових компаній, що базується на застосуванні методології системного дослідження об’єкта (страхової компанії), функції (здійснення статутної діяльності), процесу (забезпечення фінансової стійкості) в поєднанні з ризиками, що дозволяє побудувати конструктивну модель для розуміння цілого, в нашому випадку підходу до оцінки й забезпечення фінансової стійкості страхових компаній.
Розкрито типологію ризиків, які властиві діяльності страховиків, систе-матизовано ризикоутворюючі фактори та запропоновано ідентифікацію якісних характеристик ризику недотримання фінансової стійкості страхових компаній. Запропоновано індикатори фінансової стійкості, які дозволяють кількісно оцінити ступінь ризикованості діяльності страховиків та визначено складові системи ризик-орієнтованого пруденційного регулювання їх діяльності з огляду на реальну оцінку ризиків. Визначено основні механізми забезпечення фінансової стійкості в умовах кризи; сформульовано комплексний механізм управління фінансовою стійкістю страхових компаній завдяки застосуванню концепції контролінгу; розроблено підходи до підвищення ролі перестрахування в забезпеченні фінансової стійкості страховиків; побудовано математичну та імітаційну моделі діяльності страхової компанії та на їх основі проведено стрес-тестування ризику недотримання фінансової стійкості страхової компанії.В диссертации обоснованно теоретико-методологические основы обеспечения финансовой устойчивости страховых компаний, осуществляющих рисковое страхование, за счет развития методологии ее оценки и механизмов обеспечения. Обоснована концепция обеспечения финансовой устойчивости страховых компаний, базирующаяся на применении методологии системного исследования объекта (страховой компании), функции (осуществление уставной деятельности), процесса (обеспечение финансовой устойчивости) в сочетании с рисками, что позволяет построить конструктивную модель для понимания целого, в нашем случае подхода к оценке и обеспечению финансовой устойчивости страховых компаний. Выяснена экономическая природа и уточнена сущность понятия “финансовая устойчивость страховых компаний”. Определена типология рисков, свойственных деятельности страховщиков, систематизированы рискообразующие факторы, предложена идентификация качественных характеристик риска несоблюдения финансовой устойчивости страховыми компаниями с помощью фасетной классификации. Предложен перечень и сформулирована характеристика составляющих элементов, с помощью которых достигается финансовая устойчивость стра-ховщиков. Введены в научный терминологический оборот и даны определения по-нятий: “финансовая устойчивость страховой системы” – как ее состояние, ха-рактеризирующееся способностью на должном уровне сохранять количественные и качественные характеристики, обеспечивающиеся сбалансированностью распределенных во времени входящих и исходящих денежных потоков, эффективным и устойчивым функционированием страховщиков и их способностью динамично развиваться под влиянием макроэкономических, политических, правовых и других факторов, не разрушая совокупности взаимосвязей, существующих между элементами страховой системы, при условии наличия определенного уровня единства и координации действий страховщиков, единого механизма контроля и надзора за их функционированием; “финансовая стабильность страховой системы” – как ее способность в течение длительного времени равномерно и предсказуемо развиваться, на основе интеграции и применения передового опыта, сохраняя при этом способности к восстановлению, а также к прогрессивному развитию и качественному совершенствованию под действием налаженного обращения денежных потоков между элементами страховой системы и при условии устойчивого развития этих элементов, способности страховой системы успешно противодействовать и адаптироваться к негативным влияниям внешних и внутренних факторов, успешно выполняя при этом свои основные функции, в том числе, и в стрессовых ситуациях и в периоды структурных изменений. Предложены индикаторы финансовой устойчивости, позволяющие количественно оценить степень рискованности деятельности страховщиков и определены составляющие элементы системы риск-ориентированого пруденциального регулирования их деятельности с учетом реальной оценки рисков. Определены основные механизмы обеспечения финансовой устойчивости в условиях кризиса; сформулирован комплексный механизм управления финансовой устойчивостью страховых компаний на основе концепции контроллинга; разработаны подходы к повышению роли перестрахования в обеспечении финансовой устойчивости страховщиков; построены математическая и имитационная модели деятельности страховой компании и на их основе проведено стресс-тестирование риска несоблюдения финансовой устойчивости страховой компанией.
The dissertation studies the theoretical and methodical foundations for the provision of financial soundness of insurance companies, which insure risks by developing its assessment methods and provision mechanisms. It substantiates the conception for the provision of financial soundness of insurance companies, which is based on the methodology of the systematic research of an object (insurance company), function (insurance services), process (provision of financial soundness) combined with the risks, which makes it possible to build up a constructive model for the understanding of approaches to the assessment and provision of insurance companies’ financial soundness. The dissertation discloses the typology of risks peculiar to the insurers’ activity, classifies the risk-forming factors and offers the identification of qualitative characteristics of the risk of ignoring the financial soundness of insurance companies. It also offers the indicators of financial soundness, which make possible the qualitative assessment of the risk levels of insurers’ activity and determines the components of the system of risk-based prudential regulation of their activity considering the real assessment of risks. It defines the main mechanisms for the provision of financial soundness in crisis conditions; it forms a complex mechanism for the management of insurance companies’ financial soundness through the use of the controlling conception; it develops approaches to increasing the role of reinsurance in providing the financial soundness of insurers; it gives the mathematical and imitating models of the insurance companies’ activity and, on their basis, the stress tests for the risk of ignoring the financial soundness of insurance companies.
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Pinter, Julien. "Essays on two new central banking debates : central bank financial strength and monetary policy outcome : the instability of the transmission of monetary policy to deposit rates after the global financial crisis." Thesis, Paris 1, 2017. http://www.theses.fr/2017PA01E051.
Повний текст джерелаАнотація:
Cette thèse traite de deux nouveaux débats sur le central banking qui ont émergé après la crise financière de 2008: le débat sur les pertes financières aux bilans des banques centrales, et le débat sur le niveau élevé des taux bancaires par rapport aux taux de marché après la crise. Les deux premiers chapitres s’inscrivent dans le premier débat. Le lien entre la solidité financière des banques centrales et l’inflation est étudié empiriquement dans le premier chapitre, en se basant sur un large panel de 82 pays. Théoriquement, ce lien est potentiellement présent lorsque le gouvernement ne soutient pas financièrement la banque centrale et que celle-ci ne peut donc compter que sur elle-même pour améliorer sa situation financière. Les résultats du premier chapitre montrent qu’en pratique tel est effectivement le cas: les détériorations aux bilans des banques centrales s’accompagnent d’une inflation plus forte lorsque la banque centrale n’a pas de soutien fiscal. Les résultats ne montrent pas de lien dans un contexte général, comme la théorie le suggère. Dans le second chapitre, il est analysé et conceptualisé l’argument selon lequel une banque centrale peut mettre fin à un régime de change fixe ou quasi-fixe par peur de futures pertes financières. L’analyse est ensuite appliquée au cas du cours plancher mis en place par la Banque Centrale de Suisse (BNS) entre 2011 et 2015 vis-à-vis de l’euro. Cet argument a été avancé par beaucoup pour expliquer la fin de la politique de cours plancher en Suisse, sans qu’aucune recherche avant celle-ci n’évalue sa pertinence. Les estimations empiriques du Chapitre 2 permettent de montrer que cet argument avait une crédibilité: elles montrent que dans des scénarios crédibles, en cassant le peg avec l’euro 17 mois plus tard, la BNS aurait essuyé une perte considérable, dépassant un seuil perçu comme limite par beaucoup de banquiers centraux. Le dernier chapitre de cette thèse s’intéresse à l’écart entre les taux de dépôts et le taux de marché en zone euro (l’EURIBOR) qui est devenu significativement positif après la crise, conduisant certains à parler de « sur-rémunération » des dépôts. Ce chapitre soutient que la majorité de cet écart ne s’explique non pas par un comportement anormal des dépôts comme certains l’ont avancé, mais au contraire par une perte de pertinence de l’EURIBOR. Construisant une alternative à l’EURIBOR, ce chapitre conclut que le risque bancaire a eu une influence primordiale sur le niveau de rémunération des dépôts dans le monde d’après-criseThis thesis deals with the new debates on central banking which arose after the 2008 global financial crisis. More particularly, two of such debates are addressed: the debates on the financial losses in central banks’ balance sheets, and the debates on the high level of bank rates compared to market interest rates following the financial crisis. The two first chapters are related to the first debate. The link between central bank financial strength and inflation is empirically examined in a large sample of 82 countries. Theoretically, this link is potentially present when the government does not fiscally support the central bank, so that the central bank can only rely on itself to improve its financial situation. The results show that in practice central bank balance sheet deteriorations indeed lead to higher inflation when fiscal support is absent. The results, based on a particularly meticulous and consistent sample selection, do not show the presence of a link between the two variables in a general context, as the theory suggests. In the second chapter, I analyze and conceptualize the argument according to which a central bank can end a peg exchange rate regime by fear of making significant losses in the future, and I apply this analysis to the Swiss franc peg between 2011 and 2015. This argument was brought forward by many commentators to explain the Swiss move, while no research before this one did study the relevance of this argument. The empirical estimates in Chapter 2 show that this argument indeed had some credibility: under some credible scenarios the Swiss central bank would have incurred significant losses by breaking its peg 17 months later, with losses exceeding a threshold judged as relevant by many central bankers. The last chapter of this thesis focuses on the spread between deposit rates and market interest rates in the Eurozone (more specifically, the EURIBOR), which became significantly positive after the financial crisis, leading some commentators to claim that deposits were over-remunerated. This chapter upholds that the major part of this spread is not due to an « abnormal » behavior of deposits but is rather due to the fact that the EURIBOR has become irrelevant after the global financial crisis. Building an alternative to the EURIBOR, the chapter concludes that banking risks have been having a major influence on the level of deposit remuneration
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LÍBALOVÁ, Jitka. "Finanční analýza vybraného podniku." Master's thesis, 2017. http://www.nusl.cz/ntk/nusl-317411.
Повний текст джерелаАнотація:
This disertation is focused on financial analysis of economic activities of joint-stock company MAVE Jičín for accounting period 2011 - 2015. The goal of the financial analysis is an assessment of the company financial state. The disertation incorporates overview of financial analysis methods and describes financial statements, which are a source of informations for analysis. Selected elementary methods of financial analysis are used in the practical part of analysis. These are particularly horizontal analysis and vertical analysis, Net working capital, profitability ratios, liquidity, activity and leverage ratios, Du Pont equation, Altman Z-score, bankruptcy model IN95, the IN99 index and Rudolf Doucha Balance analysis II. The financial analysis results give an overview of developments in the financial situation of the joint-stock company MAVE Jičín and thereby provide information for company financial management.
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Wang, Yu-chieh, and 王郁傑. "Solvency and Rating on Corporate Bond Yield Spreads." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/44480929024311952828.
Повний текст джерелаАнотація:
碩士國立臺灣科技大學
財務金融研究所
102
Due to the rapid development of global credit markets, trading volume of bonds and derivatives have been increased year by year since 1990s. How to manage credit risk, like solvency, has become an important issue in practical. This study extends the literature of Chen, Liao et al. (2011) by using interest coverage and financial leverage ratio as proxies of solvency, to explore the effects of solvency and bond rating on corporate bond yield spreads. First, this study uses bond rating as continuous variables, dummy variables and rating group, then analyzes whether there are significant effects between Taiwanese corporates solvency on bond yield spreads from 2008 to 2013. Second, this paper adds a variable combining with financial leverage ratio and bond dummies to figure out if the interaction effect between financial ratio and bond could affect yield spreads. We use quantile regression to investigate the marginal effects between solvency and rating on bond yield spreads at specific quantiles on the last part of this study. According to empirical results, from 2008 through 2013, interest coverage of Taiwanese companies negatively and significantly relates to bond yield spreads. On the other hand, financial leverage ratio positively and significantly relates to bond yield spreads, which is different from our expectation. However, if companies can appropriately use its financial leverage, it can reduce bond yield spreads effectively. Bond rating positively and significantly relates to bond yield spreads, but the result shows that the highest rating doesn’t guarantee the minimum of yield spreads, which means its credit risk may not be the lowest. Finally, relationship between Taiwanese corporates’ capital structure and bond yield spreads varies from positive to negative when the yield spreads is from low quantile to high quantile.
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CHEN, MING-XUAN, and 陳明軒. "Preparation of perovskite solar cells by doping in different anti-solvent ratios." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/bn4k39.
Повний текст джерелаАнотація:
碩士國立虎尾科技大學
光電工程系光電與材料科技碩士班
107
This study mainly discusses the analysis of perovskite solar cell films with different Anti-solvent and anti-solvent doping.The Open-Circuit Voltage (Voc), Short-Circuit Current density (Jsc),Fill Factor(FF)and photoelectric conversion efficiency (PCE) of the films modified with different anti-solvents are discussed,The components used in this study are reverse structure (n-i-p): Glass/ITO/PEDOT:PSS/CH3NH3PBI3/PCBM/Ag As components of this study. Anti-solvent is an effective way to change the crystallization of Perovskite films, but the good use is to help Perovskite Films,but if used poorly to damage Perovskite films .So in this study, Chlorobenzene, Chloroform, ethyl ethanoate and Toluene were used as antisolvent to improve the Perovskite Thin films, The study is carried out with different ratios and different times of dripping and drying time and temperature. In this paper, the best anti-solvent doping is acetic acid B +10% Toluene, the open circuit voltage is 0.7V, the short circuit current is 16.5mA, the quality factor is 66% and the conversion efficiency is 7.76%.
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LIU, CHENG-CHI, and 劉晟祺. "Doped TiO2 Silicone/Solvent Ratio influece on Optical Properties." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/n43939.
Повний текст джерелаАнотація:
碩士明新科技大學
化學工程與材料科技系碩士在職專班
105
Light Emitting Diode (LED) has the advantages of small volume, luminous efficiency and long life, but the light source is too focused because of the light emitting surface. General LED process need to add fluorescent powder in the silicone, the proportion of polymer powder after the colder will produce precipitation phenomenon, resulting in uneven color temperature dispersion, and produce halo phenomenon. In this paper, we will discuss the addition of different proportions of titanium dioxide (TiO2) nanoparticles in silicone (Silicone), in order to improve the light source of light-emitting diodes Point to the problem, so that the light angle is more adjustable. In this thesis, Various titanium dioxide amount were doped into silicone. Changing solvent ratio investigate the effect concentration of silicone. Silicone was coated on the flip chip by spray method with 15 nm thickness. After curing, silicone was sprayed with the same condition. Phosphor powder were coated by the vacuum powder equipment. Then silicone was coated and cured on phosphor layer as a protective layer. After cutting, color temperature, luminous efficiency, angle of LED flip chip were measured by the integrated sphere and angle analyzer. The results show that changing the doping amount of titanium dioxide, the concentration of silica gel, the baking temperature and the thickness of the silicone coating can obviously affect the light beam angle of the LED. The optimal amount of titanium dioxide doped into the silicone is 1 wt%. The best thickness of silicone layer is 350um. The optimal solvent ratio of silicone A: silicone B: solvent is 1: 0.05: 4. The phosphor would homogeneous dispersion on silicone with 0.75 g silicone as spacer layer and 0.5 silicone sedimentation layer. Doped TiO2 into silicone can improve the angle of LED. The optimal angle of LED is 135 degree that will be obtained with 1 wt% TiO2 doped silicone. So the light beam angle and properties of LED can improve with doped TiO2 silicone as a protective layer.
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Peng, Chih-Ting, and 彭稚庭. "Effect of Silicone/Solvent Ratio on the Optical Properties of the Phosphor Film." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/60205852257103153342.
Повний текст джерелаАнотація:
碩士中華大學
機械工程學系碩士班
102
The traditional white LED package utilizes dispensing process with optical gel mixing glue with phosphor leads to precipitation and sedimentation phenomena due to unable to control the layer thickness of phosphor, resulting in uneven color temperature dispersion, light scattering and yellow circle halo. LED packaging process allowing wafer direct contacts with the fluorescent powder, may lead to excessive heat and reduce luminous efficiency, thus increasing the production cost. In this study, silicone A and B mixed with solvent in different ratio and followed by baking process with different temperatures for baking duration of 30 minutes. The surface morphology of phosphor powders dispersed on the silicone surface was observed, which was according to determine the required silicon/solvent ratio and curing temperature. The main purpose of this study is to investigate the diversity and application of spray process. The flow uniformity of glue on the wafer directly affects the luminous uniformity. It is essential to find out the relationship between the silicon/solvent ratio and coverage uniformity. The results showed that: after completion of baking using an Integrating sphere measurement conditions were set to 350mA, 150ms,C.I.E x=0.3594, y=0.3841, CCT = 4631.4902K. The correlated color temperature (CCT) falls within 4600 + /-100K, ΔX = 0.0085, std = 0.0016, ΔY = 0.0166, std = 0.0028. It shows effective control of silicone glue can achieve the desired target. This new spray coating method is benefit for the cost reduction and quality improvement in the current LED industry.
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Tzeng, Pin-Lian, and 曾品濂. "Adopt Dissipative Particle Dynamics to Simulate the Chain Ratio of Surfactant in Different Ratio of Non-Polar Solvent to Achieve the Change of Morphology." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/65123153580257150950.
Повний текст джерела
47
Chiu, Shih-Chin, and 邱士晉. "Study of two solvents mixed with various ratios used in blending silanes effects on adjustable pretilt angles of liquid crystal cells." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/57547105215531276197.
Повний текст джерелаАнотація:
碩士國立成功大學
光電科學與工程研究所
96
In this thesis, we demonstrate a method that two solvents mixed with various ratios used in blending silanes effects on adjustable pretilt angles of liquid crystal cells for liquid crystal alignment. In our experiment, two kinds of silane are used as a mixed solute. MAP (N-methyl-3-aminopropyltrimethoxysilane) is the first kind of silane for homogenous liquid crystal alignment. DMOAP (N,N-dimethyl-N-octadecyl-3-aminopropyltrimethoxysilyl chloride) is the second kind of silane for homeotropic liquid crystal alignment. The mixed solvent is composed of isopropyl alcohol (IPA) and deionized water (DI Water) with various volume ratios. The completely mixed solution is used to attach silane molecules on glass substrates with dipping coating method. Optical characteristics of liquid crystal cells with anti-parallel are observed with the light box and the polarized microscope. The pretilt angles of cells are measured with the crystal rotation method. Experimental results show that our method is capable of adjusting pertilt angles of liquid crystal cells. But, alignment status in liquid crystal cells seem to continuously change from cell boundary to middle area after a few days.
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Chang, Leonard Yujya. "New correlation for predicting the best surfactant and co-solvent structures to evaluate for chemical EOR." Thesis, 2014. http://hdl.handle.net/2152/28300.
Повний текст джерелаАнотація:
The focus of this study was the development of an improved correlation that more accurately quantifies the relationships between optimum salinity, optimum solubilization ratios, chemical formulation variables such as surfactant and co-solvent structures, and the EACN. Entrained in this study are improved correlations for co-solvent partition coefficients and correlations for the optimum salinity and solubilization ratio with EACN. Several trends in the oil-water partition coefficient were observed with the alcohol type (IBA and phenol), the number of ethylene oxide groups in the co-solvent, the EACN of the oil, temperature, and salinity. New EACN measurements were made using optimized formulations containing various combinations of primary surfactants, co-surfactants, co-solvents and alkali. The new EACN measurements ranged from 11.3 to 21.1. These new data significantly expand the total number of reliable EACN values available to understand and correlate chemical EOR formulation results. An improved correlation that more accurately quantifies the relationship between surfactant structure, co-solvents, oil, temperature, and optimum salinity was developed using a new and much larger high quality formulation dataset now available from studies done in recent years in the Center for Petroleum and Geosystems Engineering at the University of Texas at Austin. The correlation is useful for understanding the now very large number of microemulsion phase behavior experiments as well as the uncertainties associated with these data, and for suggesting new chemical structures to develop and test.text
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Lai, Chia-Hsin, and 賴佳忻. "The Influence of Coating Temperature and Solvent Ratio on Active Layer by Blade-Coating for Perovskite Solar Cells." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/9ev5ye.
Повний текст джерелаАнотація:
碩士國立中央大學
化學工程與材料工程學系
106
In recent year, perovskite solar cells has developed widely and quickly. In order to commercialize, we use blade-coating method which is more easily to up-scale than the most commonly used spin-coating process to investigate the effect of the precursor solvent, coating temperature, and the ratio of the mixed solvent. We find that there is obvious difference in film thickness and continuity when used distinct single or mixed solvent. The bad absorption of the active layer attributed to the discontinuous film or when the film is too thin, which caused the low device short circuit current. Coating temperature is the key of the roughness of the film. The solvent will keep flowing because of the surface tension after the blade go through when in lower coating temperature, which lead to the uneven morphology. In contrast, when it comes to higher coating temperature, the solvent volatilize so quick that bring about the holes on the film surface, result the lower coverage. Coating temperature is also the main role of the phase change when forming the perovskite crystalline. The precursor react directly into the ordered perovskite crystal at higher coating temperature, the unstable solvate and intermediate are found less. Furthermore, we discuss the film quality of the different solvent ratio of GBL and DMSO. The more DMSO, the larger the crystalline, and also get the better power conversion efficiency when applied to the solar cells. On the contrary, the more GBL, the bigger the density of the nucleus, cause the limited grain size. Due to the characteristic of the solvent GBL, the film is easily form the ring-like surface when the solvent volatilize and emerge the center-to-outer heat convection, which is the reason why the roughness and defects. This study is the analyzation about the above three optimization and got the best coating temperature 130℃ and the best ratio of the solvent GBL: DMSO=1:9(v: v), the n-i-p and p-i-n type solar cells respectively yield 12.16% and 13.19%. After enlarge the active area about 120 times as p-i-n type module with the efficiency of 11.13%. The advantages such as easy-made, material used effectively, and no active area limitation, blade-coating is a very promising process for up-scale manufacture.
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Zheng, Min-Ren, and 鄭閔仁. "Preparation of high-aspect-ratio ZnO nanorod arrays by chemical bath deposition and its application to chemical sensors for organic solvents." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/26806030284106747066.
Повний текст джерелаАнотація:
碩士國立聯合大學
電子工程學系碩士班
101
N-type ZnO nanorod arrays has been prepared on the ITO substrates by low-temperature chemical bath deposition (CBD) combined with heat treatment at 400 °C for 1h. The structural properties of the prepared ZnO nanostructures were analyzed by X-ray diffraction (XRD), SEM and energy-dispersive X-ray spectroscopy (EDS). From the SEM images, it is clearly seen that the ZnO nanostructures exhibit a hexagonal phase and excellent c-axis orientation along the substrate. The highly oriented nanorod arrays have average length of 3.4 μm and average diameter of 110 nm, leading to high-aspect ratio value of 30.9. For room-temperature sensing experiment, a simple two-electrode electrochemical system with electrical impedance measurement has been constructed. In the first, the ZnO-based sensors are employed for the detection of liquid ethanol with concentration range from 0.1~99.5% (v/v). Nyquist curves reveal a very low series resistance and smooth semicircle, suggesting that our measurement setup is an efficient sensing system for aqueous solution systems. In the second, we focus on the detection of different organic solutions, methanol, ethanol, isopropyl alcohol and acetone, under very low concentration (0~1%, v/v). The sensing properties such as impedance change, relaxation time, dielectric constant, sensitivity and stability have been investigated. Furthermore, the effects of ZnO nanorod length and aspect-ratio on the sensing performance are discussed according to the Nyquist plots and the dielectric properties. Keywords: ZnO nanord arrays, CBD, liquid sensing, impedance measurements, stability test.