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Fundamentální analýza společnosti Apple Inc.
Dvořák, Tomáš
In my bachelor's thesis I focused on the fundamental analysis and determination of the intrinsic value of Apple Inc. stock using dividend discount model and free cash flow model. The theoretical part mainly contains global, industry and company fundamental analysis, which I apply in the practical part. The practical part also includes financial analysis, which I calculate from financial statements. Based on the results, I present my investment recommendations to investors.
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Vliv informací o daňovém zatížení na akciový trh
Stejskalová, Jolana
Stejskalová, J. Impact of the information on changes in tax burden on the stock market. Diploma thesis. Brno: Mendel University, 2017. The thesis investigates the relationship between the stock price returns and news about the tax burden of US companies listed on NASDAQ. Special emphasis is put on the role of perception of the news related to changes in tax burden. Using application Google trends, we show that increasing tax searches decrease stock prices. The thesis also investigates the positive relationship between news about tax burden and stock prices, in particular, shocks. Additionally, we differentiate between the market capitalization using interactions with the dummy variables. The results confirmed a higher impact of perception on large cap companies, we point out the importance of sentiment analysis at liquid markets.
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The Impact of Judicial Verdicts Regarding Patent Litigation on Stock Prices
Vlčková, Kateřina ; Novák, Jiří (advisor) ; Kvaček, Jan (referee)
This thesis examines the impact of judicial verdicts on patent holders' stock prices. Our dataset contains 40 companies which were involved in a legal dispute concerning patent infringement or patent invalidity and which were judged by the England and Wales High Court (patent court). This work states three main hypotheses which are examined within the empirical part. To understand the impact of a judgement on the stock price of the patent holder we used an event study which measures the impact of economic events on stock prices. We divided the main hypothesis into two parts. The first part examines whether the stock price increases in case of a trial victory and the second part tests whether the stock price decreases in case of a trial defeat. Our empirical analysis refused an alternative hypothesis and so the first part was confirmed. Nevertheless our results did not confirm the second part of the first hypothesis and the stock price shows the positive abnormal return even in case of a trial defeat. On the basic of these results we conclude that judgements influence the stock price in some specific cases but they are not a dominant factor. However we confirm the next hypothesis that the stock price reacts more sensitively to the judgement's announcement in a trial concerning patent invalidity than...
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Development of the company's share price of Philip Morris CR, a.s. on the stock exchange
Vosátková, Radka ; Grosz, Jan (advisor) ; Milan, Milan (referee)
The aim of the thesis is based on statistical methods to predict the evolution of the share price of company Philip Morris CR, Inc. and subsequent determining the period of investment return, which was made during the reporting period for companies trading on the Prague Stock Exchange.
The author first defines the position of the capital market, defines used tools within the market and divides the capital market into type of securities business and into the type of the opportunities to participate in the market and into the type of organized character. For the analyze shares are identified market participants and are listed investment tools. Finally are formulated types of exchanges, clarified ITS functions and author defines The Public Market in the Czech Republic
In the subsequent part of the thesis is executed fundamental and technical analysis, forecast of the shares of Philip Morris and calculating return of investment using macroeconomic ratios, indicators of sectoral analysis, the dividend discount model, profitable models, trend indicators and oscillators, multiple linear regression and profitability investments.
The author on the Base of the fundamental analysis, recommended shares of Philip Morris CR at 06/2017 sell.
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Statistical analysis of share prices development
Lepší, Tomáš ; Hošková, Pavla (advisor) ; Pavel, Pavel (referee)
The thesis is focused on analysis of monthly shares values of a defense company called Lockheed Martin. Thesis shows possibilities for the analysis of financial and non-financial indicators of the company, which could help to identify potential problems. First I will do the analysis of financial indicators of the company, which will be followed by a descriptive analysis of the development of share prices for the period from 2010 to 2015, which will seek to analyze the possible events that could lead to the movement of share value. In conclusion the prognosis will be drawn from the data using statistical software SAS 9.4 for the following months of 2016.
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Dividend Policy Development in the USA
Dezort, David ; Marek, Petr (advisor) ; Podškubka, Tomáš (referee)
Thesis Dividend Policy Development in the USA is concerned with comprehensive analysis of dividend policy development in the United states of America for the past ten years. The thesis begins with definition of primary objective of company, income trading division, dividend concept, dividend division according to different factors, declaration and taxation of dividend. A part of the thesis is dedicated to dividend theories and desciption of elementary dividend models. The main objective of the work is to analyze the dividend policy in the USA for the past ten years based on the sample of the greatest companies quoteted in the New York Stock Exchange. The analysis is focused on calculations of correlations between dividend per share and other financial indicators. Horizontal and vertical analysis accompanied by fundamental analysis of dividend development depicts a comprehensive view of dividend policy in the USA. The conclusion consists of summarizing the results of investigations into dividend policy development, comparing the results with model interpretations and dividend doctrines and finally clarifying changes in awareness of dividend policy during the financial crisis.
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