A discussion on the Validity of Risk-free Interest Rates post European Debt Crisis.

Informace o vysokoškolské kvalifikační práci

Název práce:
A discussion on the Validity of Risk-free Interest Rates post European Debt Crisis.
Autor práce:
Peters, Robert
Typ práce:
Diplomová práce / info:eu-repo/semantics/masterThesis
Vedoucí práce:
Taušer, Josef
Osoba oponující práci:
Čajka, Radek
Jazyk práce:
English
Abstrakt:
The concept of a workable risk-free rate is essential to many financial tools and equations, forming some of the inputs for popular models such as CAPM and the Black-Scholes formula. Despite their importance, risk-free rates have been used with very little questioning about how risk-free they really are. After the European debt crisis and the large economic fluctuations it bought, we saw countries such as Greece and Iceland, default. Therefore, the idea that a tangible asset can be assumed to be risk-free must be questioned. This paper aims to present a balanced argument and analyse the suitability of risk-free rates, post the European debt crisis, through analysis of the European Monetary Union and the circumstances, which led to the default of Greece, omitting Iceland from investigation as it is not a member of the Euro-zone. The paper will then suggest what is left for the European government bond market and present the idea of Eurobonds as a possible alternative to government bonds. Finally, it will summarise the Investigation and findings, drawing conclusions as to the usability of government bonds as risk-free rates.
Klíčová slova:
European Monetary Union; Government bonds; Risk-free rates; European monetary crisis; Euro-bonds; Administrative counterparty risk

Informace o studiu

Studijní program a Studijní obor:
Ekonomika a management/International Business - Central European Business Realities
Typ studijního programu:
Magisterský navazující studijní program
Jméno přidělované hodnosti:
Ing.
Instituce přidělující hodnost:
University of Economics, Prague
Název fakulty:
Faculty of International Relations
Název katedry:
Department of International Trade
Instituce archivující a zpřístupňující VŠKP:
University of Economics, Prague

Informace o odevzdání a obhajobě

Datum zadání práce:
1. 10. 2013
Datum podání práce:
12. 6. 2014
Datum obhajoby:
13.02.2014

Soubory ke stažení

Hlavní práce:
44277_qpetr00.pdf [1,18 MB]

Údaje ze systému InSIS

Identifikátor:
https://insis.vse.cz/zp/44277/podrobnosti