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The study of the relationship between average realized stock returns and the risk of stock investment
Řípa, Daniel ; Bašta, Milan (advisor) ; Cícha, Martin (referee)
Bachelor thesis deals with the topic of average return rates of stock investments and assessment of their risk. The aim of this work is a comparison of two alternative approaches of risk measurement. Twenty years long time series of 30 stocks' returns from 1991 to 2010 are first used to analyze a relationship between average realized returns and standard deviations of the returns. Variety of computational algorithms is used in attempt to generalize this relationship. Analysis of the full length time series does not seem to discover a significant mutual relationship in the analyzed dataset. However, by analogically employing the algorithm of the CAPM analysis a significant and positive linear relationship between standard deviations and realized returns was found. Furthermore, two-step regression algorithm introduced by Fama & MacBeth is used to test the validity of CAPM model. This method led to the conclusion that CAPM cannot be rejected within the analyzed dataset. Moreover, strong positive linear relationship was found between the estimates of standard deviation and beta coefficients, which may be explained by the lack of variability in correlation between individual assets' and market portfolio's returns.
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Finanční analýza konkrétního podniku
Walica, Michal ; Mikan, Pavel (advisor) ; Klečka, Jiří (referee)
The enterprise is an activity which is necessary to be continually analysed, revised and improved. The financial analysis is a tool to complex evaluation of financial situation and company management. It enables us to find, through some indicators, weak and strong points of a company and then to recommend us on what we should focus or what we should improve. The financial analysis also serves as an important source of information not only for the company itself (owners, managers, employees) but also for the subjects cooperating with the company (investors, suppliers, banks), as well as for the state and its bodies. The main aim of the thesis was to prepare a financial analysis to a given company and thereby apply the theoretical knowledge gained during the university studies. The analysis has been worked up for a period of five years (2005 -- 2009). All data have been taken from the provided annual reports of the company. Of course, the financial analysis made from openly available information is not able to answer all the questions; nevertheless it is a good source of information about the company management in the past as well as a possible recommendation to the future.
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Financial analysis of the Škoda Auto company
Berka, Michal ; Sieber, Patrik (advisor) ; Mikan, Pavel (referee)
This bachelor's thesis financially analyses the Skoda Auto company; years 2006-2010. Its first part focuses on methodology and necessary theory, while the second one deals right with the company the financial situation of which is to be scrutinized, with look at the sector as such where useful. The last part summarizes obtained results and attempts to give certain recommendations on how to improve the functionality of said enterprise.
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Commercial and production information system of construction company
KUBÁLEK, Jakub
Setting up commercial production processes for the implementation of the contract in order to compare the real cost of such feedback on the creation of new quotes, to competitions with the system design cycle for the company. Making offers medium-sized companies engaged in construction works. Calculation of prices of construction work carried out in various ways for their implementation and impact on the cost factors in the implementation. Further back control procedures and evaluation of the contract. Establishing procedures for the handling of tenders, including a computer model for the evaluation carried out orders. Comparison of the calculated costs and actual costs should also serve to assess the performance of each specific production units. Monitoring specifically selected structures and comparing the facts with the theoretical assumptions before work and possible alternative implementation. The aim of this work is to set a permanent system of finding cost of the work and create a proposal for making use of fixed prices for the purpose of processing new quotation. Benefit their own construction equipment as compared to the possible use of engineering methods, the sub-contractors. All this should help increase the competitiveness of the company.
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Departure from Faith and Return to the Church
PAULÍKOVÁ, Zuzana
The work investigates the education in family, the departure from faith and return to the Church and faith. It is a research work. The first part deals with the preparation for a qualitative dialogue and for the choice of appropriate respondents. It describes the process of respondents collection, the process of dialogue and their recording. The case analysis occupies with the respondents´ characteristics. The second part of the work is interested in the analysis of the dialogue, the comparative analysis and therefore the dialogue evaluation. We get to know how the respondents were guided and lead to faith in their families, when and why they departed from faith, what events and moments in their lives had a bearing on their faith experience, when they returned to the Church, what people influenced their religion development and how they live in Church now. We find out that particular spheres are dependent one on another. It is very important how strong is the faith basis, how deep you sowed the faith and how you kept the seed. We can also see a diference in feeling the faith at each respondent since people are different. The human personality is very important as well as your opening to the Grace of God. The role of people we meet is very important, too. We are influenced by them. It is a kind of a call not only for people in pastoral work but also for believers themselves so that they can try to help and be here for others.
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Life insurance
ČERNÁ, Lenka
Bachelor's thesis deals with the life insurance market in the Czech Republic. I compared the different insurance products life insurance among themselves. And these products is the formula published in the scientific literature.
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Photovoltaic's resources economy
Rožánek, Lukáš ; Horník, Tomáš (advisor) ; Nowak, Ondřej (referee)
This assignment aims on phenomenon of last years, soler energy and it's use, photovoltaic. The first part of this assignment is elaborated on theoretical base and specialized literature and it is focused mainly on explanation of photovoltaic, photovoltaic's cell, electro energetic expressions etc. Further on the first part describes specific areas contextual with use of photovoltaic at present, as are legislation or system of support etc. The second part on the contrary to the first part deals with practical study aims on build-up and operation of solar power station. In this part of my assignment will be described all expenses, revenues and also cash flow. On the basis of a few investment criterion will be advised possibilities of it's investing with using loan capital or equity capital. At the end this assignment evaluate subject of photovoltaic's development of late years and it's influence on future of electro energetic, acceptableness of investment to this branch of business, height of return of investment and payback period as well.
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Financial analysis of company concerned with sewage treatment
Vučka, Martin ; Marek, Petr (advisor) ; Brabenec, Tomáš (referee)
The goal of my thesis was to make a financial analysis and an outline of the financial plan. In the first, theoretical, part I described the purpose of financial analysis and its methods and procedures used in the practical part. The second part is called the application. There I made a financial analysis of Ekosystem spol. s r.o. First I introduced the enterprise and its activities. This was followed by horizontal and vertical analysis of financial statements, analysis of financial indicators and assessment of financial soundness. I also compared the company with two other companies in the same business branch and I outlined the short-term financial plan. In the final section, I summarized the knowledge larned in the application part and I reviewed the business as a whole.
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