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Testing the impact of quarterly results and analysts' expectations on prices of selected equities
Šoltés, Viktor ; Radová, Jarmila (advisor) ; Musílek, Petr (referee) ; Krabec, Miroslav (referee)
The aim of the article is to find the relationship between the growth and decline in the share price during the promulgation period of quarterly results of companies and surprise, either positive or negative in the quarterly results. Quarterly results are compared with the forecasts of analysts who publish their forecasts for quarterly results at Thomson Reuters. Relationship is confirmed statistically, where stock returns in the period is the dependent variable, independent variables are three -- return of the corresponding market index, excess impact -- measure of surprise in quarterly results in comparison with analysts' estimates and VIX index. Linear regression is used for testing of return and GARCH model is used for testing of volatility, there is focus on adaptation of actual volatility to the long-term average volatility after accidental shock.
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Trading natural gas
Šinkovic, Michal ; Paholok, Igor (advisor) ; Šoltés, Viktor (referee)
This thesis describes systems of natural gas trading in the USA and Europe. Most of the work is devoted to the natural gas trading system typical for the US market. It consists of four parts, the first part explains the operation of the gas industry. The second part describes how physical trading of natural gas (with delivery) work. In the third part I focus on the financial market and the last part of my thesis explains some structured transactions.
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Analysis passive and active investment strategies
Tomášik, Ivan ; Veselá, Jitka (advisor) ; Šoltés, Viktor (referee)
This working paper discusses in its first section differences between active and passive investment strategies. It also deals with convenience of active funds by overcoming returns of indices size of fees and share of assets in active and passive investment forms. It also discusses index investing and exchange traded funds. The second chapter deals with short selling, its history, regulation, fees and criteria for short selling. Last chapter analyzed financial indicators of stock titles from DSW Watchlist. The results of the analysis have been also tested. Results are shown in the third chapter itself and relevant annexes.
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Slovakia and Euro in 2009
Krotká, Katarína ; Šoltés, Viktor (advisor)
Object of this work was to characterize impacts of Euro implementation on economy of Slovakia. Work is explaining the background of entry of Slovak republic to economic and monetary union, introductory processes and after-effects. Project work is divided into three major parts. First chapter is clued-up of historic milestones of entry to euro area, compliance with Maastricht criteria and steps provided by government during introductory term. Second chapter deals with progress of macroeconomic values. Third chapter presents results and interpretation of data obtained by conducted research. Research is focused on feelings of citizens of Slovakia after Euro implementation.
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Mortgage crisis
Aleksandrova, Natalia ; Šoltés, Viktor (advisor)
Work is focused on the causes, running and consequences of mortgage crisis in the U.S., it consists of three main chapters. The first chapter focuses on the description of the general and specific components of American mortgage market. Examines the elements and processes associated with mortgage loans. The aim of this chapter is to understand the principle on which the mortgage market in the U.S. stands, fixing mortgage industry to the financial system and an explanation of assumptions that in the future caused that crisis. The second chapter describes the key events both before the crisis, which had big influence on its creation, and the second event of the crisis itself. The third chapter informs about the consequences of the crisis, especially about the activities rescuing the financial world and find people who are responsible for the damage.
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The introduction of the euro in the Czech Republic
Rausová, Lucie ; Šoltés, Viktor (advisor)
This bachelor thesis deals with the introduction of the euro in the Czech Republic. Focuses in details on tasks that are primarily the responsibility of the Czech National Bank and its function in the process. Since the transitions to the euro pledged at the time of entry into the EU, this work is oriented to answer following questions. What criteria have to be met? Which scenario for transition will be elected? How the CNB will run information campaign? What must ensure for cash and non-cash payments? The practical part of the work is devoted to dual pricing and rules for conversion Czech crowns to the euro, rounding and alignment. On the example of Slovakia are in the last section outlined areas from which you can be inspired to contribute to the smooth introduction of the euro in the CR. There are listed main benefits and potential risks associated with entry into monetary union.
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Slovakia and euro in 2009
Zikmund, Michal ; Šoltés, Viktor (advisor)
My bachelor thesis is focused on entering of Slovakia the eurozone. In the first part is presented background of entering the eurozone, advantages vs. disadvantages and weight of processes during the system of exchange rate mechanism. Following section is focused on principles of Euro introduction. Another section shows contribution to inflation in case of the Euro introduction. Last section is aimed at change of position of National Bank of Slovakia and its participation on euro system at the head of European Central Bank as far as presentation of duty of National bank of Slovakia after entering eurozone and operations of European Central Bank. My intention is familiarizing with euro currency questions and with benefits for Slovakia.
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Financial Crisis
Piliarkinová, Eva ; Šoltés, Viktor (advisor)
The following bachalor thesis gives an overview at the causes, process and consequences of the financial Crisis in the USA and its spread into the global economy. The attention is focusing on characteristics of the terms that are related to the crisis itself, the causes that led to the origin of the housing bubble in the USA and describes the process of securitization. It also describes the destructive effects of the crisis on macroeconomic indicants.
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The causes of the financial crisis 2007-8
Kůs, David ; Šoltés, Viktor (advisor)
I consider in this bachelor thesis possible causes of the financial crisis 2007-8. I analyze the problems the theory of economic growth, the theory of asset price bubbles, securitization, innovation and regulation of financial market, the housing market and the mortgage market. I replenish the knowledge of the economics with the elements of mass psychology, which determinates decision making of the economic subjects. I result mainly from the Austrian Economics in my thesis.
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Recent financial crisis and the monetary policy of the FED
Dohányos, Vojtech ; Koderová, Jitka (advisor) ; Šoltés, Viktor (referee)
The diploma thesis describes the implementation of the monetary policy by FED and its goals. Afterwards the aim of the thesis is focus on the plain definition of a crisis followed by describtion of the causes and the course of the recent crisis and the monetary policy reactions of FED regarding the recent crisis. Finally, the thesis plots the assumed impacts of the crisis with a probable prediction of the following course of the crisis in the financial sector and the real economy.
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