The investment through bonus certificates

MOKRIČKA, Peter. The investment through bonus certificates. In Nesleha, J; Plíhal, T; Urbanovsky, K. European Financial Systems 2017. Proceedings of the 14 th International Scientific Conference. Brno: Masarykova univerzita, 2017, p. 78-85. ISBN 978-80-210-8609-8.

Basic information

• Original name: The investment through bonus certificates
• Authors: MOKRIČKA, Peter (703 Slovakia, guarantor, belonging to the institution).
• Edition: Brno, European Financial Systems 2017. Proceedings of the 14 th International Scientific Conference, p. 78-85, 8 pp. 2017.
• Publisher: Masarykova univerzita

Other information

• Original language: English
• Type of outcome: Proceedings paper
• Field of Study: 50600 5.6 Political science
• Country of publisher: Czech Republic
• Confidentiality degree: is not subject to a state or trade secret
• Publication form: printed version "print"
• RIV identification code: RIV/00216224:14560/17:00098306
• Organization unit: Faculty of Economics and Administration
• ISBN: 978-80-210-8609-8
• UT WoS: 000418110800009
• Keywords in English: bonus certificate; risk; return; investment

Abstract

The aim of this paper is to examine the change in the investment characteristics, especially a change in the expected return and the risk of investment, provided that the investor will use the bonus certificate instead of a direct investment in the underlying asset. First will be selected an underlying asset. Then it will be modeled the development of the value of this asset by using Monte Carlo simulation. Next it will be discussed possible ways of construction of bonus certificates. Components from which is bonus certificate comprised will be priced and it will be modeled development of the value of bonus certificates on chosen underlying. Then it will be statistically evaluated and assessed the change in investment characteristics compared with investment characteristics of direct investment in the underlying asset. Finally, discussions will be carried out and formulated recommendations.

Links

• MUNI/A/0823/2016, interní kód MU: Name: Behaviorální, znalostní a ekonomické aspekty oceňování a obchodování finančních a jiných aktiv (Acronym: BZEAO)

Investor: Masaryk University, Category A