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Application of czech and foreign capital markets as a tool for corporate financing
Kopecký, Ondřej ; Kislingerová, Eva (advisor) ; Krabec, Tomáš (referee) ; Dluhošová, Dana (referee)
The czech capital market is currently rarely used by the domestic enterprises for obtaining financial resources, although in the world this way of obtaining finance is common. There were regulatory changes in the czech capital market, but despite this partial liberalization, it has not increased interest of czech companies on issuing of shares or bonds. The focus of this dissertation is therefore a comparison of the conditions for corporate financing in countries with developed capital market and identifing any differences. The work also examines the evolution of corporate finance on the capital markets in different continents, influence the IPO on the financial health of the company and analyzes the impact of the amendment of the Act on Bonds.
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Company in national economy and realisation of investments: alternatives for its development through emission of bonds and bank loan
Strýček, David ; Klepek, Cyril (advisor) ; Doležal, Ondřej (referee)
This thesis focuses on the issue of companies investments realization and the sources of their funding, especially on bank loan and emission of company bonds. Thesis is divided into two parts. In theoretical part we conclude that bank loan is in Czech Republic more usual form of funding than emisson of bonds. Emission of bonds presents only a small percentage on total financial funds. In thesis we conclude that for companies, which realize their investments and won't refinance it with next emission of funds are bank loans clearly preferable option. The thesis brings evaluation of real investment plans and choice of foreign funding sources. It can help as a simplified template for decision making about these funding sources.
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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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Dluhové financování jako externí zdroj financování podniku
Urbánková, Martina
This thesis is focuses on debt financing, its effect on capital structure. In the thesis there are applied the theoretical knowledge of debt financing and its impact on the MARLENKA international Ltd. The aim of the Bachelor thesis is to determine the impact of the implementation of the investment plan of the company for the development of the financial situation of the company. The thesis is divided into a theoretical and analytical part. The analytical part of the thesis focuses on the investment project of the company and its evaluation. In conclusion there are the findings evaluated.
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Central government deficit financing via issues of bonds
Novák, Alexander ; Radová, Jarmila (advisor) ; Veselá, Jitka (referee)
This diploma thesis surveys debt instruments used in OECD and European Union member countries for financing central government deficits and the techniques of selling government bonds. The volume and structure of the central government deficit and debt in the Czech Republic as well as organization of debt management office are subjected to a detailed analysis. Debt management accomplishments are confronted with the set out strategy and its objectives. The thesis also consists of the characteristics of securities in use (treasury bills, medium-term and long-term government bonds) as well as of legal regulations of auctions by which the securities are placed on the domestic market. An independent subchapter is dedicated to foreign issues of bonds.
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