Fundamental and Technical Aspects Development of the Czech Stock Market
| Author: | Mgr. Martin Sommer |
|---|---|
| Year: | 1996 - summer |
| Leaders: | prof. RNDr. Jan Ámos Víšek CSc. |
| Consultants: | |
| Work type: | Financial Markets Masters |
| Language: | Czech |
| Pages: | 63 |
| Awards and prizes: | Young Economist Award M.A. with distinction from the Dean of the Faculty of Social Sciences for an extraordinarily good masters diploma thesis |
| Link: | |
| Abstract: | Fundamental and technical aspects of the emerging Czech stock market The paper demonstrates the lack of correlation between prices and fundamentals on the Czech equity market. However, the existing links between the stock and market returns enable investors to construct portfolios with relatively stable risk-adjusted returns relative to the market. The paper makes the case that the ownership structure in the Czech companies biased towards investment funds and private owners makes it unlikely that the primary equity market will become active in the foreseeable future. But the vigorous primary market would seem to be the main pre-condition for plausible valuations on the secondary market given the use of vouchers as the main privatization method. |
| Downloadable: | Diploma Thesis - Sommer |
