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Valuation of the company
Kotlant, Jan ; Kislingerová, Eva (advisor) ; Strouhal, Jiří (referee)
The aim of this thesis is to estimate the value of company Blažek Praha, a.s. at the day of 1st 2015 in order to provide information for owners, creditors and potential investors to make decisions. After a short theoretical introduction, the thesis will consist of all of the steps necessary to value the company. First, strategic analysis is elaborated. This will be followed by financial analysis, analysis of value drivers and the creation of a financial plan. Lastly, the valuation will be conducted by using three different methods, and the DCF Entity method will provide the final valuation.
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Application of czech and foreign capital markets as a tool for corporate financing
Kopecký, Ondřej ; Kislingerová, Eva (advisor) ; Krabec, Tomáš (referee) ; Dluhošová, Dana (referee)
The czech capital market is currently rarely used by the domestic enterprises for obtaining financial resources, although in the world this way of obtaining finance is common. There were regulatory changes in the czech capital market, but despite this partial liberalization, it has not increased interest of czech companies on issuing of shares or bonds. The focus of this dissertation is therefore a comparison of the conditions for corporate financing in countries with developed capital market and identifing any differences. The work also examines the evolution of corporate finance on the capital markets in different continents, influence the IPO on the financial health of the company and analyzes the impact of the amendment of the Act on Bonds.
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Business valuation of GZ Media, a.s.
Pelc, Tomáš ; Maříková, Pavla (advisor) ; Kislingerová, Eva (referee)
The goal of the diploma thesis is to create a business valuation based on investment value of GZ Digital Media, a.s. The date of business valuation is on 1 st January 2015 for purpose of hypothetical sale of the majority shareholder´s share. At first, diploma thesis introduces the company itself. After that, the strategic and financial analyses follows. On these analyses is determined whether the assumption of going concern is fulfilled or not. The company is valuated with the DCF entity and industry multiples methods. After that the value of majority shareholder´s share is determined.
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Valuation of the company
Skříček, Jiří ; Kislingerová, Eva (advisor) ; Plaček, Jan (referee)
The aim of this thesis is to evaluate the company to January 1st 2015 on entity basis with purpose for management decisions. Theoretical part will define methodology for business valuation, followed by practical part where financial and strategic analysis will be done, creation of financial plan and valuation by yield method DCF.
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Estimate the value of the company GOLDBECK Prefabeton Ltd.
Baloušková, Jitka ; Kislingerová, Eva (advisor) ; Smrčka, Luboš (referee)
The aim of the thesis is to develop an estimate of the value of the company GOLDBECK Prefabeton Ltd. for owners. The work consists of two parts, theoretical and practical. The theoretical part describes the basic starting points of business valuation, methods and procedures. The practical part is devoted to the valuation of the company, preceded by the strategic analysis, financial analysis, analysis and forecast of the generator values and compilation of a financial plan. Business valuation was performed by using the method of discounted cash flow and method of economic value added. Conclusion of the thesis is a statement about the value of the company to 31. 3. 2015.
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Valuation of the company ABC
Maňák, Simon ; Kislingerová, Eva (advisor) ; Štamfestová, Petra (referee)
This diploma thesis is concerned to the valuation of the firm. The result of the valuation process should be the investment value. The thesis is divided into the 4 parts. The first 2 parts are concerning to the analyses of the firm -- financial and strategic. Their aim is to set the financial health and growth potential. In the next part of the thesis are described and predicted the value generators, the main economic characteristics creating the value of the firm. Based on their prediction is determined the financial plan as the base for the valuation. The last part of the thesis consists from the setting of discount rate, which will be on the level of the opportunity costs of the shareholders, and valuation of the firm through the discounted cash flow to the equity model. Additionally will be determined the book value and the value by market comparison.
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Evaluation of the investment project of the JETE completion
Kouklík, Michal ; Kislingerová, Eva (advisor) ; John, Aleš (referee)
The thesis deals with the project of the construction of the Temelin Nuclear Power Plant, as an optimal new production source of electrical energy to ensure the majority of the coverage of the growing electric consumption in the Czech Republic and to ensure the state energy independence in the future. The main part of the thesis is dedicated to the methods of strategic investments evaluation. Emphasis is placed on the dynamic methods, which are also working with the factors of time and risk, which are relevant in this case, because the project time horizon is 70 years. The investment project is evaluated from the perspective of owners, as well as from the overall perspective of owners and creditors. The Monte-Carlo method was implemented into the model to support the decision-making process and to move closer to reality. The method assigns the relevant distribution division to the model input values. The output is the set of available values, and the probability of their occurrence. The main thesis objective lies in the decision of the decision maker with a neutral attitude to risk, whether accept the investment or not.
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Set of Tools for Corporate Crisis Prevention
Stehlíková, Anna ; Kislingerová, Eva (advisor) ; Hučka, Miroslav (referee) ; Kusák, Michal (referee)
Abstract: The doctor's dissertation paper addresses the social problem, how business units should use the standard economic tools to prevent crisis. The importance of the problem is supported by the fact, that last year more than eleven thousand economic entities in the Czech Republic became insolvent. The Set of Tools for Corporate Crisis Prevention shall help to better adjust the internal control mechanisms, using which businesses could better prevent crisis. Application of this Set of Tools for Corporate Crisis Prevention is verified based on two completely different companies. The dissertation addresses the question of how use standard tools such as loan and leasing for crisis prevention, possibly secure the recovery of growth opportunities. This support is implemented by using an external financial institution, or the Intercompany bank. In the chapter entitled "intercompany bank", I describe the basic principles of operation and its importance for internal control. This internal organization has been used in many companies, but today is back to support the sales department and help reduce risk associated with the greater indebtedness of the company. I am describing the Intercompany bank in the context of internal processes and forms of cooperation with the sales department. Functionality of the intercompany bank is supplemented with examples from practice. The chapter called "Micro-enterprise approach of the crisis" is complemented by the complexity of internal financial perspective to company's management. This chapter describes three main sources of the company crisis from a microeconomic perspective. It is decreasing demand, the impact of interest rate exchanges on corporate governance and the impact of exchange rate changes on the financial stability of the company. The analytical part of presented dissertation thesis deals with development of insolvency proposal, bankruptcy, and reorganization proposals in The Czech Republic between 2008 and 2013. The main target is finding the causal dependences between insolvency requirements in the Insolvency Register and a few key macroeconomic indicators such as GDP, unemployment rate, industrial production growth and the amount of loans granted to the corporate sector. For a more comprehensive view of insolvency arrangement of The Czech Republic is accompanied by description of the legislative settings in The UK, Germany and France. Keywords: Bankruptcy proposals, Bankrupt, Company crisis, Exchange rate, Industrial production, Insolvency, Insolvency proposals, GDP, Leasing, Reorganization, Unemployment rate.
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Valuation of Allowance Organization – the Municipal Library of Prague
Matyášová, Hana ; Kislingerová, Eva (advisor) ; Boukal, Petr (referee)
This master's thesis focuses on the valuation of the Municipal Library in Prague, the cultural institution allowances organization. Its aim is to estimate the value up for the date of 31th October 2013 for the purpose of its founder, Prague - the capital city, and to compare the measured value with the level of annual non-capital contribution for the Municipal Library from its founder. The valuation was performed by using the contingent valuation method, which is based on random sample of the questionnaire survey respondents who express their preferences. They are gradually guided to be able to provide the maximum price that they would be willing to pay for use of services and to be able to work out what financial compensation they would be willing to accept for the decrease in their quality life. The starting point of this thesis is to determine the prognosis of the number of registered readers, borrowings, economy of the Municipal Library, its market position and other requisites. This thesis is one of the few which contains valuation in the cultural sector in the Czech Republic.
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