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Capital structure of a company
Průdek, Jakub ; Štamfestová, Petra (advisor) ; Machek, Ondřej (referee)
Thesis on The capital structure of the company deals with the most suitable form of financing business activities. The aim is to clarify the most important types of capital that businesses can use to raise funds and to summarize the main theories about optimal capital structure, including their impact on the Czech market. The practical part is dedicated to find a weight average cost of capital function based on the classical theory of capital structure and the subsequent search for her optima. To outline the real environment on the capital market, there were presented some previous research indications and foundations of literature. For modeling the WACC function and search its minimum there were used some of recent economical conclusions and basic mathematical principles. The thesis is concluded with a quadratic model, resulting in abstract terms, which demonstrates the influence of each variable and could also be used to track the influence of each one, or as a basis for managerial decision making.
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Klíčové komponenty ukazatele EVA v zemědělských podnicích
Basovníková, Marcela
The objective of this PhD thesis is to identify key components which have the most significant impact on the economic value added of agricultural enterprises. The literature review is mainly focused on agricultural enterprise as the part of the agrarian sector, hence the Common Agricultural Policy, respectively the agricultural subsidies policy is described and the risks related to doing business in agriculture are defined. This part of the dissertation also briefly discusses the most common measures used in order to evaluate enterprise financial performance while the economic value added is elaborated more in details. In subsequent analytical part correlation analysis, regression analysis and cluster analysis are applied in order to identify the key factors affecting the value of EVA indicator. As such factors mainly profit from operating activities and the level of debts bearing interest are defined. For the conclusion, I suggest possible approaches to influence these factors with the aim to increase the economic value added in the agricultural enterprises.
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Valuation of a Company: Kornfeil spol. s r.o.
Herůfková, Jitka ; Fiala, Jakub (referee) ; Mašterová, Lucie (advisor)
Master’s thesis is focused on the application of valuation methods chosen company Kornfeil spol. s r.o. Methods of measurement are specified in the thesis. This thesis describes process of valuation of selected company. Steps in the valuation, financial analysis, strategic analysis, financial plan, the discount rate and the application of valuation methods are specified. In the thesis are applied to revenue and cost valuation method, and finally made their synthesis.
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Company financing through the capital market -- company KOFOLA S.A.
Malík, Jakub ; Janičíková, Monika (advisor) ; Daněk, Stefan Svatopluk (referee)
This bachelor thesis is focused on funding companies through the capital market. Emphasis is put on corporate financing with corporate bonds. The methodological part of the thesis discusses the different forms of internal and external corporate financing and the associated advantages and disadvantages. The thesis also describes the basic indicators of business analysis related to corporate debts. Separate chapters are devoted to bonds and bond issuance and related costs.The practical part is focused on the analysis of the bond issuance of KOFOLA S.A.. The goal of this thesis is to calculate and evaluate the total cost of the bond issuance for the company. The cost of the bond issuance is divided into direct and indirect costs and they are processed separately. The main object of cost analysis is to define coupon payments in individual years of the existence of bonds, which are related to the interbank interest rate. In the next steps of the practical part of the thesis, the cost of liabilities from bonds of KOFOLA S.A. will be calculated in a percentage expression. In conclusion, there will be the summary and the evaluation of all results using the analyses of debts and indicators of financial analysis.
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