Moral hazards in terms of the financial crisis

This diploma thesis focuses on the moral hazard aspects in the financial crisis on the USA market in the years 2007-2009, that later became known as a global crisis of real economic. The thesis aim is to prove a role of moral hazard in the financial crisis origins, role that can be detected in the activities and behavior of the market participants. There is a survey of the individual causes of the crisis and interpretation in the terms of moral hazard. First part of the thesis focuses on the theoretical basics of moral hazard that is being represented by the Principal-Agent Problem. This theory is further applied on the financial market theories. Second part of the thesis describes the origin and development of the financial crisis. It represents the introduction of the crisis without exploring the causes. The third part of the thesis is the core part, there is presented the role of moral hazard in the financial crisis due to the synthesis of the two previous parts. Item by item there are introduced the activities on the crisis market, where the principle of these activities is presented in terms of moral hazard. This part also includes moral hazard in the society that influences also the financial market. The last part focuses on the regulation of the financial markets in connection with the possibilities of moral hazard elimination