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Optimal capital structure of an enterprise
Strnad, Lucien ; Borkovec, Aleš (advisor) ; Hraba, Zdeněk (referee)
Resumé / English summary Title of the thesis: Optimal capital structure of an enterprise Summary: The purpose of my thesis is to analyse optimal capital structure of an enterprise and important factors in the capital structure decision making, because the enterprise's capital structure is one of the most important decisions management has to make. The capital structure is how a firm finances its overall operations and growth by using different sources of funds and the capital structure optimisation is relatively a complex issue. The thesis is composed of eight chapters. Chapter One is introductory and explains my choice for the purpose of this thesis and describes content of following chapters. Chapters Two a Three define basic terminology used in the thesis, particularly the basic items of the property and capital structure of an enterprise. The aim of Chapter Four is to survey the most important capital structure theories, especially the Modigliani-Miller theorem (of Franco Modigliani, Merton Miller) that forms the basis for modern thinking on capital structure. Chapter Five describes the most significant determinants of optimal capital structure of an enterprise and how those factors might affect optimal capital structure. The chapter is subdivided into five parts: the advantages and disadvantages of...
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Assessment of the predictive ability of prediction models
Huba, Samuel ; Strnad, Lucien (advisor) ; Bobáková, Viktória (referee)
The subject of my work is to test the predictive ability of prediction models applied on companies "MEDEA a.s" and "Šarišské pekárny a cukrárny a.s." The theoretical section summarizes the main knowleadge of the prediction models- their division, the method of classifying businesses, discriminant analysis procedure and descriptions of selected prediction models used in the practical part. The practical section is aimed to assess the prognostic ability of the selected prediction models for predicting collapse of the "MEDEA a.s" in contrast with the correct predicted favorable financial situation in comparing company "Šarišské pekárny a cukrárny a.s." The results are then presented in the tables individually and collectively with the success percentage of each model.
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Predictions of financial distress of a company through financial analysis methods
Stec, Valerián ; Strnad, Lucien (advisor) ; Schönfeld, Jaroslav (referee)
The subject of this thesis is Četrans a.s. financial analysis using a bankruptcy and yield models. The aim of this work is to determine if is possible to predict Četrans bankruptcy using financial analysis methods. In the theoretical part I pursue the properties, division and utilize of particular ratios and models. In the practical part, the values of ratios and models are specified. At the end, I follow the causes of potential bankruptcy and items that could affect the ratios, models results and firm progress.
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Finanční analýza podniku Brano a.s.
Knížek, Milan ; Vávrová, Hana (advisor) ; Strnad, Lucien (referee)
Tato bakalářská práce si klade za cíl zhodnotit vývoj finanční situace společnosti Brano, a.s. v letech 2004 až 2008 za použití absolutních, poměrových a rozdílových ukazatelů a tyto údaje porovnat s odvětvím. Teoretická část práce se věnuje popisu jednotlivých kroků finanční analýzy, praktická část pak samotnému zhodnocení výkonnosti a finanční situace v podniku.
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Assessment of the explanatory power of models
Urban, Ondřej ; Strnad, Lucien (advisor) ; Schönfeld, Jaroslav (referee)
The object of this paper is the application of solvency models and bankruptcy prediction models on two companies and assessment whether the models are capable of correctly classifying both companies. Models are used on companies Hartmann-Rico a.s., which is in good financial-economic situation, and Pliva-Lachema a.s., which was threatened by bankruptcy and from 1st January 2010 is in liquidation. The first part is devoted to the issue at the theoretical level. In the second part is this issue applied on both companies and is evaluated with which accuracy the companies were rated by different models. The conclusion will be assessed the explanatory power of models.
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An assessment of prediction ability of prediction models based on accountancy data of companies Jitex a.s. and Moira CZ a.s.
Vlasáková, Soňa ; Strnad, Lucien (advisor) ; Smrčka, Luboš (referee)
The main goal of this bachelor thesis is to assess the prediction ability of prediction models. The prediction ability is tested on 2 companies. One is considered to be failed and the other one non-failed and successful. Therefore Jitex a.s. and Moira CZ a.s. have been chosen. This bachelor thesis is also aiming to provide with sufficient theoretical basis connected with a prediction of corporate bankruptcy. Along with this it contains adequate facts, which are necessary for an application of prediction models. The end of this bachelor thesis leads to a clear assessment of all selected prediction models and it aims to identify a model, which is the most suitable for an application in the Czech business environment.
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