This diploma thesis analyses various approaches to calculate risk-free interest rate. In the beginning it deals with the term risk-free asset a various types of bases we could start calculating from. The paper suggests using spot rates and searches for alternative interest rates on the market. These are subsequently applied to real data coming from Czech market. Specifically they are the bootstrapping method and also the method of deriving risk-free interest rate from interest swap rate. Closing thoughts are dealing with various problems an appraiser may encounter while calculating risk-free rate. For example the problem of using nominal/real rates, nonexistent long-term government bonds or the presence of a default risk for particular government. This diploma thesis closes with a decision tree that could serve as a lead for appraiser in the process of estimating risk-free interest rate.
| Identifer | oai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:16743 |
| Date | January 2010 |
| Creators | Adamec, Tomáš |
| Contributors | Maříková, Pavla, Mařík, Miloš |
| Publisher | Vysoká škola ekonomická v Praze |
| Source Sets | Czech ETDs |
| Language | Czech |
| Detected Language | English |
| Type | info:eu-repo/semantics/masterThesis |
| Rights | info:eu-repo/semantics/restrictedAccess |
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