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Asian Financial Linkages: The Case of Japan
Fialová, Anežka ; Horváth, Roman (advisor) ; Turnovec, František (referee)
This work reviews the topic of international financial linkages, including theoretical definitions and the main methodological approaches of the empirical measurement based on vector autoregressive models. One of the approaches, the Spillover Index methodology based on Diebold & Yilmaz (2009), is then used to analyze the developments of financial linkages of the Japanese stock market in the period from 1995 to 2012. The attention is paid both to the relations with western developed economies and within the region of East Asia. The main contribution of this paper is the fact that it comprises a complete review of international relations of Japanese stock market during the era of unprecedented financial liberalization. The results of the empirical study confirm the opening of Japanese stock markets towards foreign influence. Even though USA have been the major driving force behind the movements in East Asian stock markets, Japan has become a significant regional player, whose influence on East Asian countries has been growing. The developments in the Japanese stock market are on the other hand driven solely by the western developed countries, which further supports the view of Japan as the regional financial leader.
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The comparison of Russian, Kazakhstanian and Belarusian stock exchanges
Almenova, Ariadna ; Veselá, Jitka (advisor) ; Kábrt, Tomáš (referee)
The topic of the bachelor thesis is the comparison of stock exhanges within the post- Soviet countries: Russia, Kazakhstan and Belarus. In the first part of the work, the stock exchanges are compared in terms of history, organization structure and membership conditions. The following part is focused on comparing such characteristics as trading methods, the market segmentation and trading settlement according to the individual stock exchange. The rest of the research is dedicated to the analysis of the trade volumes, the number of securities issued and the market capitalization. Furthermore, the last chapter discusses the indeces and analyses its development over the time period.
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Asian Financial Linkages: The Case of Japan
Fialová, Anežka ; Horváth, Roman (advisor) ; Turnovec, František (referee)
This work reviews the topic of international financial linkages, including theoretical definitions and the main methodological approaches of the empirical measurement based on vector autoregressive models. One of the approaches, the Spillover Index methodology based on Diebold & Yilmaz (2009), is then used to analyze the developments of financial linkages of the Japanese stock market in the period from 1995 to 2012. The attention is paid both to the relations with western developed economies and within the region of East Asia. The main contribution of this paper is the fact that it comprises a complete review of international relations of Japanese stock market during the era of unprecedented financial liberalization. The results of the empirical study confirm the opening of Japanese stock markets towards foreign influence. Even though USA have been the major driving force behind the movements in East Asian stock markets, Japan has become a significant regional player, whose influence on East Asian countries has been growing. The developments in the Japanese stock market are on the other hand driven solely by the western developed countries, which further supports the view of Japan as the regional financial leader.
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Asian Financial Linkages: The Case of Japan
Fialová, Anežka ; Horváth, Roman (advisor) ; Turnovec, František (referee)
This work reviews the topic of international financial linkages, including theoretical definitions and the main methodological approaches of the empirical measurement based on vector autoregressive models. One of the approaches, the Spillover Index methodology based on Diebold & Yilmaz (2009), is then used to analyze the developments of financial linkages of the Japanese stock market in the period from 1995 to 2012. The attention is paid both to the relations with western developed economies and within the region of East Asia. The main contribution of this paper is the fact that it comprises a complete review of international relations of Japanese stock market during the era of unprecedented financial liberalization. The results of the empirical study confirm the opening of Japanese stock markets towards foreign influence. Even though USA have been the major driving force behind the movements in East Asian stock markets, Japan has become a significant regional player, whose influence on East Asian countries has been growing. The developments in the Japanese stock market are on the other hand driven solely by the western developed countries, which further supports the view of Japan as the regional financial leader.
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Multi-criteria Evaluation of Stocks Traded in Terms of DJIA on NYSE
Zacharda, Patrik ; Borovička, Adam (advisor) ; Šindelářová, Irena (referee)
The subject of the bachelor paper is multiple criteria analysis of stock traded in the framework of Dow Jones Industrial Average (DJIA) index on New York Stock Exchange. The first part of theoretical passage deals with introduction of financial market focusing on stock markets. The second part is focused on describe the history and functioning of New York Stock Exchange and on introduction of DJIA index. The following part is devoted to the theoretical introduction of decision making theory and describing discrete methods in multiple criteria decision. The last part is about application of methods described in theoretical part to the specific shares belonging to DJIA index. The main goal of the paper represents a release of investment recommendation for a potential investor decided to insert his free financial resources into shares of DJIA index which are traded on New York Stock Exchange.
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A Comparison of American and Chinese Stock Exchanges
Starobová, Eva ; Veselá, Jitka (advisor) ; Musílek, Petr (referee)
This diploma thesis discusses the comparison of following stock exchanges: Shanghai Stock Exchange, Hong Kong Exchanges, New York Stock Exchange and NASDAQ. History of each of the stock exchanges is briefly mentioned, as well as their fundamental characteristics (including company status, tradability of own shares, market segments, trading hours etc.). The thesis also deals with the specification and comparison of products traded on the money market on the individual stock exchanges. Moreover, there are compared the listing rules for the stocks. The last chapter is focused on the analysis of the exchange data. Stock exchanges are compared in terms of the market capitalization and in terms of the number of listed companies. The analysis of value of trading is also covered. Finally, the stock exchanges are compared with regards to one representative index.
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Hong Kong: economic expansion during 1945-1965
Oravec, Radovan ; Skřivan, Aleš (advisor) ; Szobi, Pavel (referee)
Hong Kong is one of the most interesting and most dynamic economies in global scope. Country, which at 19. century began development as a small British trading colony has changed into economic superpower during few years. Hong Kong reached it despite hostile conditions -- absence of minerals, dense population, hostile neighboring countries or great distance of potencial trading partners. I will focus on the period after Second World War until 1965, the period of essential economic growth. I will mainly explore the reasons of these positive stimuls, relationship with China, principles of banking system, stock exchange and position of Hong Kong as a financial centre in international scope. All will be clarified by real economic indicators as tables and graphs, which I will analyse and deduce rules of successful economic development, which should be in general inspirative for developing economies.
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Share appreciation at the stock markets
Parpel, Jan ; Votava, Libor (advisor) ; Ludva, Michal (referee)
This work is divided into two parts -- the theoretical and the practical one. The theoretical part lists instruments that are traded at the stock markets. There are described advantages and disadvantages of each instrument, trends in which the instruments move and how to analyse them correctly. The next part is about broker companies in the Czech Republic, their comparison and about information that we need to know before starting the trading. For the trader is very important part about technical and fundamental analysis. The work is oriented for a starting trader that wants to gain the main information about stocks and start trading at the stock markets. In the practical part is summed up, how big of an influence does the announced reports have on the movement of stocks of Commercial bank in years 2007 -- 2009. The last part shows how to draw and analyse trend correctly.
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Informační požadavky pražské burzy na regulované společnosti
Hovorková, Jana ; Žárová, Marcela (advisor) ; Nováčková, Zdenka (referee)
Práce se věnuje informačním požadavkům pražské burzy na regulované společnosti. V úvodu práce je obecně zpracováno téma burzovních trhů, jejich fungování a jsou zde uvedeny základní informace o Burze cenných papírů Praha, a. s. Dohled v oblasti kapitálového trhu v druhé kapitole pojednává o regulaci burzovního trhu Českou národní bankou. Ve třetí kapitole jsou uvedeny informační požadavky pražské burzy. Další kapitoly uvádějí základní informační požadavky londýnské a newyorské burzy cenných papírů a závěr práce je věnován porovnání informačních požadavků těchto tří uvedených burz.
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