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Investment opportunities of small investor on the capital market in CR and their comparison
VOSTALOVÁ, Marie
The main aim of the thesis is to characterize the possibilities of investing a small investor in the Czech capital market and to compare these possibilities. The thesis is focused on stocks traded through the RM-SYSTEM or the Prague Stock Exchange. In the first part, we find an explanation of important terms, description of basic investment possibilities and presentation of yield, risk and liquidity as the main concepts of investment strategy. The second part first describes trading on the Prague Stock Exchange and the RM-SYSTEM. This is followed by a stock exchange comparison according to yield, risk, liquidity and cost. These characteristics are calculated for four specific stocks traded on both exchanges. A five-year time horizon is chosen for the calculation. The return is compared using the average monthly return and the total return for the selected shares. The risk is calculated over the standard deviation. Cost is calculated using a model situation. The analysis results are first compared for each characteristic separately and then summarized and compared as a whole. Based on the results, we recommend a stock exchange stat is more suitable for a small investor.
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Comparing of the Rm-system Czech Stock Exchange with the Prague Stock Exchange and with the foreign exchanges.
VESELÁ, Ludmila
This thesis compares various attributes of the two stock exchanges that are currently in existence in the Czech Republic: the Rm-system Czech Stock Exchange and the Prague Stock Exchange. Detailed comparisons are made between various specifics of membership policies, trading routines, fees and indices at these exchanges and these are then related to the corresponding attributes at two representative foreign exchanges: the London Stock Exchange and the New York Stock Exchange. A principal question to be answered in the thesis is whether having two independent organizers of stock-market trading is beneficial to the investors and overall practical for the market of the size of the Czech Republic. The first, theoretical part of the thesis is focused on historical evolution and characteristics of the stock exchanges. In this part we give a general classification of stock exchanges, discuss in some detail the kinds of traded financial instruments, describe trading participants and elucidate the nitty-gritty of trading systems. The second, practical part of the thesis then examines detailed facts about individual stock exchanges in the order listed in the theoretical part with the emphasis put on the differences between the stock markets under study. Various representative data is collected in tables and/or recorded in charts and graphs. Particular distinctions between the stock exchanges are analyzed and the distinguished aspects are highlighted. The conclusion summarizes obtained results and finally answers, in the mild affirmative, the question whether it is beneficial to have the stock market in the Czech Republic served by two independent stock exchanges.
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