Hedging měnového rizika vybraného podniku

Abstract

The Diploma thesis deals with the elimination of financial risk, in particular, hedging currency risk. The theoretical part of the Diploma thesis consists of chapters two and three. In the second chapter are characterized different hedging methods and types of financial derivatives. The chapter also describes the simulation of random development of financial asset prices and option pricing models. The third chapter deals with the reasons for hedging and approaches to hedging currency risk. Then the selected methods of hedging currency risk are described. The approach to assessing the impact of hedging on firm value was described at last. The final chapter presents the practical part of the Diploma thesis. The problems of hedging using selected hedging strategies is solved on the selected company, ČSAD LOGISTIK Ostrava a.s. Calculations are performed in the software Mathematica. In the end of the chapter, the effects of these hedging strategies are evaluated by selected criteria, i. a., by the impact on firm value. As the best of the hedging strategies were selected ensuring currency forward and short range forward. The possible options for hedging currency risk outlined in conclucion.