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Capital structure changes over business life cycle
Centko, Milan ; Krabec, Tomáš (advisor) ; Daněk, Stefan Svatopluk (referee)
The main aim of the thesis is to describe the decision-making mechanism of companies regarding the capital structure over the business life cycle. The study analyses the use of main capital structure theories in practice. Moreover it links the financial theory with the concept of business life cycle. Secondly, the thesis includes detailed comparative analysis of various sources of business financing and their costs, quantification of the costs of capital and analysis of any calculation inaccuracy of this parameter in practice. Finally, the thesis defines the fundamental decision-making formulas about the capital structure in individual phases of life cycle while using the relevant data. The thesis is, on the grounds of research, focused on the trade-off theory and relating calculation of optimal capital structure.
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Investment Project Valuation
Chvojka, Michal ; Sieber, Martina (advisor) ; Vlček, Josef (referee)
Bachelor thesis deals with the financial evaluation of the effectiveness of the investment in RoyalGrill restaurant. The work is divided into theoretical and practical part. The first part deals with method of investment evaluations, risk, determination of cost of capital, the financial plan and determination of value. The second part deals with selected investment project which is evaluated based on the theory explained in the first part.
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Investment Valuation
Cápíková, Markéta ; Sieber, Martina (advisor) ; Vlček, Josef (referee)
My thesis deals with the evaluation of investment, specifically it focuses on investments in solar panels used for water heating. The bachelor thesis is divided into two parts. In the first part I summarize theoretical knowledge about investment valuation. At the beginning I explain what an investment is, and go on to explain the individual methods of valuation and I also examine the cost of capital in broad range. In the second half of the theoretical part I deal with the creation of the financial plan and with determination of the salvage value. At the very end of theoretical part, I abandon economic parameters and I try to briefly introduce the reader to the topic of solar panels. At the beginning of the practical part, I deal with the dimensioning of the solar system. In the next part I focus on evaluation of the specific example of the solar system, in which the knowledge acquired in the theoretical part is transformed into practice.
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Financial Evaluation of Investment Project
Němcová, Andrea ; Sieber, Martina (advisor) ; Vlček, Josef (referee)
The Bachelor thesis deals with the topic of financial evaluation of an investment in preschool education market. Specifically it is about founding private kindergarten Zámeček. The work is divided into two complementary parts. First theoretical part deals with method of investment evaluations, determination of cost of capital and the financial plan. The second practical part deals with selected investment project which is in detail evaluated based on the theory explained in the first part.
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Financing of firms - resources of financing
Křížková, Renata ; Hraba, Zdeněk (advisor) ; Borkovec, Aleš (referee)
This master thesis deals with financial resources of company. I explain terms such as enterprise financing, capital structure, structure of company assets, long and short-term financing, shareholder's capital, liabilities and their costs. For the qualification purpose I have divided the financial resources into shareholder 0s equity and liabilities. They are separately described in the third and the fourth parts. They are the most importatnt and the widest parts of the whole thesis. The last part is devoted to alternative resources, that companies can use for financing of their business plans. The thesis concentrates on the possibilities of financing for large business companies. The aim of my thesis is to provide its readers with a variety of knowledge on the topic, which should enable them to make thier own financial decision. KEY WORDS: enterprise financing, financial management, resources of financing, structure of assets, capital structure, cost of capital
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Financial Evaluation of Investment Project
Havelková, Markéta ; Sieber, Martina (advisor) ; Loužek, Marek (referee)
Bachelor thesis deals with the evaluation of the effectiveness of the investment project Coffee with Master and Margarita. The first part summarizes selected available literature about evaluating investments, the financial plan, determine the cost of capital, risk and determine the value. Considerable space is also devoted to the review of methods of investment evaluation. The second part is devoted to a specific example of a detailed assessment of the investment plan open cafe, the described theory is put into practice.
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The productivity of enterprises and the cost of capital
PACLÍK, Štěpán
This bachelor's thesis deals with the relationship between the productivity of enterprises and the cost of capital. This thesis is divided into the theoretical and the practical part. The metodology of this thesis includes the process of creating this work from studying the literature to building the conclusion. The theoretical part is composed of basic information about this issue. The practical part of thesis deals with the work with Albertina database where all the information about enterprises is. There is the characteristic of selected enterprises in the national economy - manufacture of electrical equipment (27 CZ-NACE) in the time period of 2011 - 2015. The second part is the analysis of the relationships between the productivity of enterprises and the cost of capital with the help of correlation and regression analysis. The last part of all is the conclusion where all the relations are.
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Financial Evaluation of an Investment Project
Zoubek, Václav ; Sieber, Martina (advisor) ; Vlček, Josef (referee)
The aim of this bachelor thesis is financial appraisal of investment in apparel industry. The first part of thesis recapitulates selected literature about evaluating investments from investment projects, cost of capital, risk to value determination. Part of the thesis is dedicated to comparison of several methods of investment decision making. Second part of thesis comprises of creation of an investment project and use of theoretical knowledge for its evaluation.
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The Specifics of Financial Management of Holdings Companies
Ficbauer, David ; Bartoš, Vojtěch (referee) ; Hrvolová, Božena (referee) ; Král, Bohumil (referee) ; Režňáková, Mária (advisor)
The main purpose of the thesis is to explore the specifics of the financial management of holdings companies in the Czech Republic with an emphasis on the area of financial management. However, the author assumes that persistent reasons for holding creation is using of synergy effects consisting mainly of centralized management of cash flows to minimize the cost of capital and minimizing the risk of an individual investor who actively makes managerial functions in view guarantees of individual companies. It was found the lack of a comprehensive and systematic approach for a qualitative research. A total of 15 holding companies was use for the qualitative research. The outcome gives many answers concerning the specifics of the financial management of the holdings companies. It seems guarantee, minimizing cost of capital and cash management are key points. The synergistic effect of the holding companies can be used when transferring financial means between companies holding. The impact of the transfer of available financial means was simulated for holding No. 13. It was clearly shown to decrease WACC at one of the companies within the holding. It was found that the subsidiaries, which effectively control the cash flow, maintain a low level of Cash Ratio and Net Working Capital. It was also found that the subsidiaries that manage cash flow effectively, achieve higher ROA. The same assumption was not found in the parent companies. The research question that subsidiaries, which effectively control the cash flow, use financing through bank loans to a lesser extent, was partially confirmed.
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