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The Application of Technical Analysis to the Czech Capital Market in the Period of Economic Recession
Špringer, Milan ; Pígl, Jan (advisor)
These lines deal with both theoretical and analytical view of real usability of individual methods and techniques in the Czech capital market in the period of economic crisis (2008-2009). The document introduces the basic technical analysis methodology (the technique based on graphics outputs of specific data files and the technique based on the mathematical indicators) in the theoretical chapters. An introduction and subsequent description of the mentioned methodology in the sphere of price predication of shares and funds is the main tendency in this theoretical chapter, not the profound interpretation. The work attends to concrete analysing of some basic hypothesises of common usability of our main theme, technical analysis. Price development of the selected titles and the endeavour to apply the techniques described in the theoretical chapter to these data series are included in the analytical chapter. The reader wants to make his own idea of how is the real usage of such an analysis difficult. Very helpful is also a demonstration of a big measure of subjective level in production and calculation of some indicators. Final part shows us the most interesting results for the practical usability of the mentioned methods and indicators in the sphere of the Czech Capital Market.
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Implementation of MiFID in the Czech legislation and practice of capital market
Zunová, Kateřina ; Veselá, Jitka (advisor)
Aim of this work is to specify the EU direction DIRECTIVE 2004/39/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC focusing on its impact on Czech legal system and changes in practice of capital market. In my thesis, I will define jurisdiction of the direction in my thesis, describe particular changes in the law of entrepreneurship in capital market no. 256/2006 and summarize some of the impacts upon Czech capital market.
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Investment in stock from the point of view of a small beginner investor
Junger, Jiří ; Marek, Petr (advisor) ; Makovec, Martin (referee)
The purpose of this Bachelor Thesis is to check the possibilities of investing in stock in the Czech capital market from the point of view of a small beginner investor. The Thesis in its first theoretical part describes capital market, its characteristics and important terms in this area. Next part is focused above all on characteristics of the investment itself. Advantages, disadvantages and risks connected with investment in stock are described and explained here. The third part is practical. In this part three different investment portfolios are gradually compiled. These portfolios stem from the methods mentioned in the second chapter and the profits, which each portfolio would have brought in 2009, are always counted. In the final part pieces of knowledge obtained in the practical part are summarized and the investment as a whole is evaluated.
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The role of securities dealers in the Czech capital market
Danišová, Lucie ; Veselá, Jitka (advisor)
The bachelor thesis deals with effects of securities dealers in Czech Republic. The thesis understands this institution as an intermediary through which we can assess our available funds in financial markets. The first part of the thesis deals with basic principles of operation of these entities. The second part describes the various services that brokers offer. Part three analyzes the effects of five selected brokers in Czech capital market. The main aim of this thesis is to characterize this institution, which performs in our market, describe the various services that brokers provide, and find out the actual situation.
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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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Testing of created investment strategies on american capital market
Oliva, Martin ; Veselá, Jitka (advisor) ; Kubík, Jan (referee)
The aim of the thesis is testing of created investment strategies on American capital market. The beginning of the thesis is devoted to the explanation of principles of Walk-forward optimalization, description of tested time period and shares and other starting points of the thesis. Afterwards several tools of technical analysis are used to create two trading systems, which are then tested. The final part of the thesis is devoted to the analysis of results of both trading system and to suggestions, which could improve both trading systems performance.
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The regulation of bond market in selected EU country
Spozdil, Jaroslav ; Radová, Jarmila (advisor)
The purpose of this work is to focus on the issues of bond market regulation in the context of Czech legal system. The individual parts discuss the general definition of bonds, their form and characteristics, obligations of the issuers and regulatory requirements of capital market monitoring. This paper also provides a brief description of individual regulated market systems and their specifics is an integral part of this work.
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Czech households saving rate and its use on the capital market.
Chaloupka, Martin ; Ježek, Tomáš (advisor) ; Kubelková, Karina (referee)
The main question this master thesis wants to answer is how much from their disposable income the Czech households save and how do they use their savings on the capital market. The thesis analyse situation and trend of the Czech households saving rate, changings of the marginal saving rate and checks in which financial instruments the Czech households alocate their savings. The thesis also focus on comparison of the Czech households data with the foreign households especially with the German, the Belgium and the Britain households as well as with Visegrád group households. Middle part of the thesis contains a forecast of future progress, which is compared with the similar forecast from year 2006, as well as the relationship of the government and the household's savings rate and possibilities and impacts of its regulation.The thesis is finished with the conclusion which summarize the most important results.
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The evolution of the Czech capital market and its regulation
Hejda, Josef ; Korbel, Jiří (advisor)
The objective of this work is to describe the evolution of the czech capital market. I would like to find basic principles of this evolution, influenced by socialpolitikal evolution in this country. I distinguish parts and structure of czech capital market, its specialities and particular problems connected with its special origin. I describe the evolution of the market of actions and obligations. Other objectives are the desctiptiom of czech market regulation and the evolution of czech law system in this area.
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Transformation of Slovak republic (after 1989)
Lipka, Vladimír ; Kollár, Miroslav (advisor) ; Hudík, Marek (referee)
Práca analyzuje vývoj kapitálového trhu na Slovensku v období transformácie, popisuje vývoj obchodovania na BCPB a porovnáva vývoj BCPB s na burzách cenných papierov v strednej Európe. Vývoj kapitálového trhu na Slovensku bol ovplyvnení transformačný procesom. Hlavne kupónovou privatizáciou, jej zrušením a nedostatočnou reguláciou kapitálového trhu. Výsledkom kupónovej privatizácie bolo rozdrobené vlastníctvo, minimálny prílev kapitálu a poklesu hodnotu akcií. Kapitálový trh na Slovensku stratil atraktívny pre domácich ani zahraničných investorov a začal upadať. Kapitálový trh na Slovensku môžeme označiť ako nelikvidný, s nízkym obratom na trhu akcií, minimálnym počtom nových emisií a nízkou trhovou kapitalizáciou. A to napriek tomu, že má kapitálový trh rozvinuté všetky štandardné inštitúcie finančného trhu, legislatívu harmonizovanú s EÚ, regulovaný trh a zabezpečenú ochranu investorov. BCPB môžeme označiť ako dlhopisovú burzu. V porovnaní s okolitými štátmi je BCPB najmenej rozvinutá a zaostáva za ostatnými burzami vo všetkých ukazovateľoch. Zatraktívnenie kapitálového trhu by sa dalo dosiahnuť predajom časti strategických podnikov cez burzu, podporou stredne veľkých podnikov pri emisiách nových akcií a vytvorením nových investičných príležitostí pre investorov.
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