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Warants on the European Capital Market
Bříza, Michal ; Tichá, Jana (referee) ; Sojka, Zdeněk (advisor)
Warrants are modern investment gear product. They are emitted by famous financial institution and dedicated for small investors. The main object of this diploma thesis is to analyse warrants. In first part of the thesis is theoretical background of warrants, pricing models, etc. Second part is mainly focused on investment strategies and stockjobbing. In the last part is comparsion to other financial products and also practical investment introduction are included.
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Warants on the European Capital Market
Bříza, Michal ; Tichá, Jana (referee) ; Sojka, Zdeněk (advisor)
Warrants are modern investment gear product. They are emitted by famous financial institution and dedicated for small investors. The main object of this diploma thesis is to analyse warrants. In first part of the thesis is theoretical background of warrants, pricing models, etc. Second part is mainly focused on investment strategies and stockjobbing. In the last part is comparsion to other financial products and also practical investment introduction are included.
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Nonstandardised option contracts - warrants
Tomaník, Jan ; Brada, Jaroslav (advisor) ; Blaheta, Petr (referee)
The thesis is mapping current situation on the market in warrants as nonstandardised option contracts. Particular attention is paid to the special issues of warrants modified into the form of so called "access products". The function of such financial instrument is to open extraordinary investment opportunity to certain kind of investors, who otherwise are not allowed to make direct investment into the underlying asset itself. Access products can be considered as particular financial innovation, which spread out on Central European capital markets. The most familiar form of access products are low strike price covered call warrants, the characteristics of which are being analyzed and compared to standard options and warrants. The author also focuses on the process of issuing warrant securities on Czech capital market according to Czech law and problems linked to it, which the issuer encounters. The thesis proves on the example of Fondul Proprietatea Warrants, which were in 2010 successfully placed to third market of Vienna Stock Exchange by Czech entity, that such warrant issue is possible despite of material complications stemming from the absence of clear definition of warrants in Czech law.
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