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Fundamental Analysis of Share Price
Pestr, Jiří ; Varecha, Martin (referee) ; Čižinská, Romana (advisor)
This thesis is dedicated to fundamental analysis of the company ČEZ and tries to assess whether it is appropriate in the circumstances, to invest in the company or not. To determine the intrinsic value of a share in this work the use of dividend discount models, cash flow, profit models and other. Assessing the economic situation is then performed based on various ratios of the company's performance.
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Fundamental Analysis of Share Price
Pestr, Jiří ; Varecha, Martin (referee) ; Čižinská, Romana (advisor)
This thesis is dedicated to fundamental analysis of the company ČEZ and tries to assess whether it is appropriate in the circumstances, to invest in the company or not. To determine the intrinsic value of a share in this work the use of dividend discount models, cash flow, profit models and other. Assessing the economic situation is then performed based on various ratios of the company's performance.
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Ranking of selected soft drinks manufacturers
Klement, Petr ; Neumaierová, Inka (advisor) ; Hájek, Jiří (referee)
Thesis Ranking of selected soft drinks manufacturers examines the performance of Coca Cola, Pepsi and Kofola through compilation of ranking. Within the thesis there are constucted four rankings based on four different criteria. The supreme criterion of performance is enterprise value obtained using the method of economic value added. Results stemming from compilation of the rankings are formulated as recommendations for potentnial investor in these companies. Results of individual rankings are compared with each other in order to examine the validity of the use of foreign sources of information for evaluation of the selected criteria.
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Stock Portfolio Construction and Fundamentals
Bastin, Jan ; Musílek, Petr (advisor) ; Witzany, Jiří (referee)
The final thesis deals with the construction of a stock portfolio. The traditional portfolio theory models of Markowitz and Sharpe and anomalies based on fundamentals are shown and applied in Germany. In the first part, portfolio theory and fundamentals are explained. The mathematical model is demonstrated in the second part. Empirical results are shown in the last part.
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Fundamental analysis of selected stocks
Klimíček, Tomáš ; Musílek, Petr (advisor) ; Veselá, Jitka (referee)
The interest of diploma work is focused on fundamental analysis of selected stocks. Fundaments which were taken into account were earnings per share, sales per share and book value per share. The first part of diploma work describes theoretical background and investment strategies based on P/E, P/S and P/BV ratio. Following part is paying attention to analyzed period, the selection of analyzed stocks and also to the analysis itself. Analysis is performed on twenty stocks traded on London Stock Exchange, on the Main Market. Analyzed period is from 1996 to 2005. In each year of analysis were created three portfolios based on investment strategies connected with P/E, P/S and P/BV ratios. For each selected portfolios was analyzed rate of return. The rate of return was analyzed in different times from creation of the portfolio. The last -- third part includes results of performed analysis, which was performed for each year separately. Result includes analysis of selection of stocks to portfolios and overall analysis of rate of return from of different portfolios. This part of diploma work also includes reflection of limits and weaknesses of performed analysis. Diploma work proved market anomaly. All investment strategies, which were based on ex post analysis, proved its ability to bring higher rate of return than the market.
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Regression Models and their Usability for the Stock Valuation in the Czech Republic and selected countries
Pieran, Ondřej ; Bauerová, Jarmila (advisor) ; Janda, Karel (referee)
Diplomová práce je věnována odvození, popisu a testování modelů kapitálového trhu. Zaměřuji se na takové modely, které lze testovat metodami regresní a korelační analýzy. Jmenovitě se jedná o teorii arbitrážního oceňování, vícefaktorové modely pro odhad výnosu s různými druhy vstupních dat (makroekonomické, fundamentální a odvětvové), vícefaktorový model beta koeficientu a regresní odhad parametrů P/E, P/BV a P/S. Všechny modely jsou testovány v prostředí vybraných zemí Evropské unie (eurozóna, Velká Británie) a odděleně také na datech České republiky.
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