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Analýza akciového titulu ČEZ
Prokop, Martin ; Veselá, Jitka (advisor)
The purpose of this work is to briefly describe the principles of fundamental analysis and, at the same time, to provide a simple guidance to be used by investors when assessing the shares. Within the framework of global analysis such individual macroeconomic quantities are defined that can influence the development of the ČEZ Company. The power of their impact on the shares is calculated by way of correlation coefficients. In sectoral analysis the position of ČEZ Company is described not only on the Czech but also on foreign markets. Attention is also focussed on different types of regulations and provisions that are characteristic for the energy market. In this part individual methods are described and the information items and data defined that are necessary for the assessment; at the same time these data are used for the calculation proper of the internal value of shares.
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Liberalization of electricity market and competition policy
Zámorský, Tomáš ; Zemplinerová, Alena (advisor) ; Misic, Viktorija (referee)
The purpose of the electricity market liberalization is disruption of the rigid market structure, in which monopoly from regulation abuses its position at the expense of consumers. Rigid market structure was characteristical for the czech electricity market from 1990 to 2001, when the "energetics act" came into force. This act caused gradual liberalization of the market entrance until nowadays situation, when consumers can freely choose their electricity provider. The aim of this thesis is based on comparison of non-price and price competition advantages of alternative and traditional electricity providers to find out, if the main electricity producer ČEZ is able to hold its dominant market share. The analysis showed that, thanks to liberalized market entrance, ČEZ has no longer so stable position on the market and that its market share e.g. on market of wholesale electricity supplies is not due to competition dominant. Its market share from the point of view of number of points of supply remains major.
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Evaluation of employee involvement in CSR activities of ČEZ, a.s.
Akšteinová, Michaela ; Dvořáková, Zuzana (advisor) ; Kleibl, Jiří (referee)
The Master Thesis deals with an evaluation of employee involvement in social responsible activities of CEZ Group, primarily in its employee volunteering program. The aim of this thesis is besides the evaluation itself, also a comparison of employee volunteering programs with its competitors RWE and E.ON and a proposal for possible improvements of existing approaches. The theoretical part gives definitions of basic terms such as Corporate Social Responsibility, corporate philanthropy and volunteering and possibilities of employee involvement in corporate social responsible activities. The analytical part describes social pillar of Corporate Social Responsibility in ČEZ Group and involvement of its employees into these activities, focusing on corporate philanthropy and volunteering. The description of similar activities within CSR run by the competitors follows. Based on results of (questionnaire) research the evaluation of employee volunteering programs in these companies is processed and some possibilities for improvement of present CSR processes in ČEZ Group are outlined.
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Rational decision-making of individual investors in equity markets
Hájek, Petr ; Kubík, Jan (advisor)
This bachelor thesis aims for an intelligible approach so that the reader has an opportunity to understand the possibilities and ways of intelligent investment on the Czech stock market. In the first chapter, focused on theoretical aspects of stock trading, the most important concepts are explained. The second chapter is focused on two basic concepts of rational investment - the margin of safety and diversification and the three main approaches for predicting the development of stock courses - technical, psychological and fundamental analysis. In the third part, one of these methods, fundamental analysis, is applied in a full scale on a stock title, which for our purposes will be represented by the company ČEZ a.s. In the subsections of global, industry and company fundamental analysis, the various factors and their impact on the stock price of ČEZ a. s. are analyzed.
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The analysis of selected M&A of CEZ
Kropáček, Matěj ; Sedláček, Jiří (advisor) ; Štekrt, Vladimír (referee)
This bachelor thesis is about selected M&A of CEZ in south-eastern Europe. The goal of this thesis is answer the question if that selected M&A are profitable for CEZ. At first author describes the meaning of term M&A and CEZ company. Next part is describing details of M&A in Rumania and Bulgaria like price of M&A, motivation of buyer or financial results. Last chapter analyse datas and compare selected M&A with some czech companies owned by CEZ. In the end author answer the question he asked in the beginning of this bachelor thesis.
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How does CSR affect employee’s satisfaction?
Krasnikova, Darina ; Dvořáková, Zuzana (advisor) ; Kleibl, Jiří (referee)
In now days knowledge society employees become the most important recourse of all kind of commercial and non-profit organizations. Employers are making efforts to create the best possible conditions with goal to get and hold the best employees. One of the complex tools to make those work conditions better and increase the satisfaction of the employees is concept of Corporate Social Responsibility (CSR). CSR is a policy for management of the organization which builds base for a sustainable development. It consists of three principles: economic, environmental and social. Within the social principle CSR offers plenty of methods and ways to rise the employee's satisfaction and gain his loyalty.
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Stock analysis of the ČEZ
Jedlička, Radek ; Veselá, Jitka (advisor)
My bachelor work is dedicated to stock and shares analysis of the ČEZ, a.s. The aim of analysis is find an overrated, underrated or correctly rated stock and determine investment recommendation. Part of my work is technical analysis completing investment recommendation with timing. Used evaluation model of the fundamental analysis are free cash flow to equity, Gordon's dividend discount model, P/E ratio and P/BV ratio. There were applied five methotds of technical analysis: methods of exponential moving average, candlestick chart, Bollinger bands, Momentum and relative strength index.
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