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Harmonization of the Czech stock market legislation after EU entrance
Čejková, Klára ; Veselá, Jitka (advisor)
The bachelor thesis deals with the current legislative situation in the Czech capital market. Aims to analyze the currently applicable regulations which were influenced by European harmonization trends particularly MiFID. In the first chapter are defined key terms associated with the stock market. The second chapter deals with the MiFID and its transposition into national legal systems of the Member States of the European Union. The last chapter is devoted to Czech laws which were affected by MiFID. Thesis aims to provide a concise and comprehensive overview of the current situation in the capital market in relation to key European events.
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Comparative analysis of central europe stock exhanges and their trading systems
Chvátal, Ladislav ; Žilák, Pavel (advisor) ; Vorek, Marián (referee)
This thesis deals with the comparative analysis of stock markets in Prague, Warsaw and Budapest. The main goal of the thesis is to evaluate the trading systems and development of stock indices, market capitalisation, trading volume and numer of new IPO. One part is also devoted to birth of stock aliances in Central Europe. The results showed dominant role of Warsaw Stock Exchange in this region. Warsaw stock exchange operates with most developed trading system. In terms of market indicators Warsaw stock exchange has the biggest market capitalization and trading volume. On the other hand Prague and Budapest Stock Exchange could benefit in the future from membership in CEESEG holding company.
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Comparation of influence of financial and economical crisis on national stock markets
Voldřich, Karel ; Witzany, Jiří (advisor) ; Witzany, Jiří (referee)
The main objective of this thesis is to define how financial crises influenced different national stock markets, such as Czech Republic, Federal Republic of Germany and People's Republic of China. I compare movements and behaviour of american and national indices and thus I want to declare the influence. I look for parallels and try to find their explanation according to market characteristics. In theoretical part I discuss structure and characteristics of financial and stock market and using this knowledge I look for causes and describe the american financial crises. The image of consequence between chosen countries is at the end completed by statistical analysis. Graphs and pictures needed to illustrate the movement of stock indices are to be found in the thesis.
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Stock Market in the Czech Republic
Kříž, Jan ; Bartošová, Jitka (advisor) ; Bína, Vladislav (referee)
This work focuses on the Czech stock market. Work is focused on the application of the theory of efficient markets, which is one of the theories explaining the evolution of prices of securities, the stock market in the Czech Republic from 2000 to 2008. Efficient market theory represents a random walk, which is used as a tool to describe the phenomenon where the future price changes are random divergence from past prices. The thesis is divided into several parts. The first part presents an actual stock market in the Czech Republic. Because most of the work deals with the analysis yields the PX stock index was that in the next section in detail described and analyzed. Furthermore, the Czech stock market has been analyzed in terms of structure and trading volume. The next section has described the theory of efficient markets. Was described briefly the history of this theory. Another part of this work can be described as a purely practical. First, the work focuses on the market in the one year time series of returns. In second part were analyzed medium-long term consisting of three year time series of returns. The last analyzed period was long term, consisting of eight-year time series of returns from 2000 to 2008.
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Stock Price Bubbles
Li, Xiaokun ; Musílek, Petr (advisor) ; Veselý, Marek (referee)
Economic bubbles are playing an increasingly significant role in the current global economy. We believe these bubbles are to a certain extent dominating the real economy, and, therefore, research based on this specific economic phenomenon is becoming increasingly popular and important. The focus of this master's thesis is based upon analysis of stock price bubbles. This thesis contains author analyzed historical cases representative of stock price bubbles; summarizations of their traditional features; common factors causing their formation; and reasons leading to their bursting. Solutions to the dilemma of stock price bubbles are discussed in depth, and emphasis is placed upon clearly deciphering different theoretical approaches regarding this phenomenon-not only from the efficient market hypothesis viewpoint but also from the perspective of behavioral finance. The research contains testing and measuring methodologies of stock price bubbles, and the author's view concerning them is strongly supported by the results within the empirical data-testing chapter. Upon reading, one can expect to achieve a basic overview of this forefront science.
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Stock market of the Czech Republic under financial crisis conditions
Panušková, Monika ; Taušer, Josef (advisor) ; Svoboda, Vratislav (referee)
This master's thesis deals with stock market of the Czech Republic under financial crisis conditions. It is divided into a theoretical and a practical part. The theoretical part describes a stock price, most significant stock bubbles and fundamental, technical and psychological analysis. The practical part of this thesis is dedicated to an up-to-date stock valuation of three representative stock companies quoted on Prague Stock Exchange by using the fundamental analysis. The technical analysis is applied as an additional approach. The main target of this thesis is to verify whether the current Czech stock market can not be designated as a stock bubble any more in contrast to a situation before the financial crisis.
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International stock markets in conditions of financial crisis
Otýpková, Michaela ; Taušer, Josef (advisor) ; Plchová, Božena (referee)
This diploma thesis deals with trading in the international stock markets in conditions of financial crisis. The theoretical part covers basic definitions associated with stock markets, followed by a chapter dedicated to business cycles, which are significantly related to the stock markets. The first goal of the thesis is numerical comparison of the extensions of the actual financial crisis with the most meaningful financial crisis over last one hundred years. The second aim of the work is to effectuate the technical analysis using selected technical indicators and evaluate its results in chosen periods.
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