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Proposal of measures for company shares value appreciation
Nejezchleb, Kamil ; Nechvíla, Zdeněk (referee) ; Mandelík, Petr (advisor)
The Paper is focused on company shares value and manipulation with their course on capital market. Theoretical part describes Fundamentals and technical analysis, which are used for identifying share inner value a expected trend in course. Consequently are described forbidden market practices and transactions on capital market according to new legal regulation. Analytic part contains analysis, which identifies inner value of company shares and predicts trend in course. Following analysis are setting measures, which enables company management to realize appreciation of company shares, without making offend against legal regulations of securities course manipulation. Summary contains recommendations and findings, which can be generally used for improving companies positions on capital markets.
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Financial assets in the financial statements of the investor in the Czech Republic and the Federal Republic of Germany
Čechová, Michaela ; Skálová, Jana (advisor) ; Novotný, Jan (referee)
The aim of this thesis is the comparison of the accounting systems in the Czech Republic and the Federal Republic of Germany with a focus on financial assets from the investor's perspective. Although both countries being members of the European Union successfully implemented the European Directive no. 2013/34/EU, we can hardly address comparability financial reporting in financial assets. Firstly, the thesis defines the generally accepted accounting principles and legal regulation of accounting procedure on which the accounting system of examined countries are based. Afterwards, each balance sheet position of financial assets will be described. The most important issue of this thesis is the valuation of financial assets, which differs across accounting systems. The practical part contains an analysis of the financial statements of significant companies from both countries, focusing on the balance sheet position and valuation methods. The thesis intent to demonstrate the diametrical differences in the valuation of financial assets, even though they are consistent with the EU legislation.
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Credit rating agencies and their impact on the global financial crisis
Kubálková, Martina ; Bolotov, Ilya (advisor) ; Čajka, Radek (referee)
Credit rating agencies play an important role in the financial market and ensure its effective functioning. However, they now face criticism due to their involvement in the development of the global financial crisis in 2007--2009, and in some cases they are even referred to as the key cause of the crisis. The purpose of this thesis is to define the role of credit rating and credit rating agencies in the global financial market and to analyse how and to what extent the rating agencies were actually involved in the origin of the global financial crisis. The first chapter deals with the theoretical definition of relevant terms while the second chapter analyses the impact of ratings on the development of the global financial crisis and it also focuses on the consequences that credit rating agencies had to deal with following their implication in the cause of the crisis.
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Investing in the Czech Republic in relation to GDP (Gross Domestic Product)
Šabatka, Matěj ; Bartošová, Jitka (advisor) ; Bína, Vladislav (referee)
The aim of this thesis is to explore investment opportunities of the Czech population, the ability of businesses to obtain needed capital for their investment plans and possibilities to obtain these funds from individuals through securities. The main part of this work is to evaluate the dependence between the securities markets and the growth of gross domestic product between 2006 - 2012. For the research, graphical and correlation analysis were used. Due to detected dependencies between gross domestic product and the bond market, issuance of bonds with a five-month delay of the positive fluctuation of gross domestic product was recommended. The final section is concentrates on prediction of the future development of the bond market, which proved to be unpredictable.
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Fundamental analysis and its application on stock market
ZABLOUDIL, Jakub
A fundamental analysis is a method of securities price analysis by involving all of substantial influences. The aim of this work was to process fundamental analysis of selected stock, to compare its intrinsic value with the market price and to determine investment recommendation for potential investors. The company of which stocks are analyzed is ČEZ. The first part describes the most important theoretical knowledge which is necessary for a successful implementation. Practical part is divided into two sections. The first one is focused on calculation of three input quantities which are required for making next procedure. The input quantities are required rate of return, dividend growth rate and cash flow growth rate. The second part deals with a calculation of the intrinsic value of the selected stock. It was decided to apply four methods which are used for intrinsic value determination. The methods are single-stage dividend discount model with expected infinite holding period, cash flow model Free Cash Flow to Equity, Price/Sales historical model and Price/Dividends historical model. The outcome of all the selected models was the same. That is a fact that calculated intrinsic values are higher compared to the market price. It means that the stock is undervalued on the security market and there is market price growth anticipated. That results into a definite recommendation to potential investors to buy the analyzed stocks.
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Regulation of capital market focusing the securities market
KREJČÍ, Lucie
The thesis "The regulation of capital market regulation, with a focus securities market "deals with the regulation and supervision of the capital market and securities market in particular. The first part is devoted to explaining the concepts of regulation and supervision, classification system of regulation and supervision, securities regulation and the reasons for the stock market. primary goal of this work is to compare the regulatory system securities market in the Czech Republic and the EU to propose any recommendations for the country. further analyzes the situation in the EU and more attention is focused on the regulation system in the UK and Germany.
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Creation of optimal portfolio at the Stock Exchange
KUPILÍKOVÁ, Žaneta
This work ?Creation of optimal portfolio at the Stock Exchange? deals with formulation of portfolio risks and its profitability of fourteen bonds randomly chosen from the variety of industries. The first part focuses on the theoretical bases which are neccessary for the practical example of profitability calculation and the portfolio risks. The second part presents the optimal portfolio based on the consideration of the profitability and the portfolio risks.
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The development of capital market in the Czech Republic from 1989 to present
Jiráček, Jakub ; Zeman, Karel (advisor) ; Zemplinerová, Alena (referee)
This bachelor thesis analyses the development of the capital market in the Czech Republic from the viewpoint of the legal framework, institutional security and from the development of activity of capital market from the year 1989 up to the present. One part of the research is answering the question -- whether is the investment for the retail customers more accessible. The theoretical part consists of the theory of capital market and the theory of regulation and supervision of the capital market. Simultaneously, it clarifies the reasons of his rise and explains the particular terms which are concerning capital market. The practical part is describing and analyzing the development of the capital market itself in the Czech Republic in the observed term. First it will be examined the development of legal framework. Then it follows the development of the institutional security. Afterwards is analyzed the development of the capital market. Within the analyzed framework of the development of the capital market are set these parameters: the number of issues of securities and the trading volume of securities, stock market indices and their correlation with the efficiency of economy.
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The causes of the current economic crisis and its impact on the world economy
Rýdl, Filip ; Jílek, Josef (advisor) ; Mládek, Josef (referee)
The work seeks to analyze the causes and impacts of the current financial crisis. It deals with the theoretical view and definition of financial crisis, along with a brief historical excursion. A significant part of the work is devoted to describe the financial crisis in the United States and in selected, economically important, countries. In the context of the causes of and solutions to the current crisis period are remembered views of different economic schools, which are very different. A significant part is devoted to the description of institutional architecture and function of the financial system. Important part is the description of the functioning of lending money (such interest and regulatory policy), because the author sees in it a long series of "unhealthy" factors, which helped the emergence of a financial crisis. The aim of this work is to give a komplete, non-ideological coloring, look at the biggest financial crisis in modern history.
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