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Estimation of the Value of the Firm
Andrýsková, Jana ; MBA, Michal Bobek, (referee) ; Karas, Michal (advisor)
This master thesis deals with specify a value of a chosen company by the income-based methods, especially by the Economic Value Added and Discounted Cash Flow. The thesis deals with describe of the methodology of bussiness valuation in the theoretical part. The practical part contains strategic and financial analysis, financial plan and the closure contains a proposal of valuation of company to date 1. 1. 2014.
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Valuation of Baťa, a.s
Procházka, Michal ; Bernát, Michal (referee) ; Beranová, Michaela (advisor)
The aim of the master’s thesis is to valuate comapny BATA, a.s. using income – based valuation mmethods. Thesis is dividend into two parts, theoretical and practical. Theoretical part describes basic charakteristics of the terms, defines company and its value, overview of invidual methods and procedures used for valuation of the company. Practical part is focused on application of theoretical knowledge in practise. The master’s thesis contains economical analysis, especially strategic analysis, financial analysis and preliminary valuation of comapany based on value generators. Company value was based on two yield methods, especially method of discounted cash flow entity and method of economic addend value.
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Objectified Valuation of the Business Entity
Ambrosová, Aneta ; Souček, Karel (referee) ; Luňáček, Jiří (advisor)
The aim of this work is to determine the value of the selected business entity. Valuation will be served to the company's management for internal purposes and will be conducted to 12/31 2014. The thesis will be divided into three parts. The first part illustrates the theoretical background needed when examining the issue, primarily methodological approaches of valuation. Second, the analytical part, applies the information processed in the previous section directly to the selected company. Based on the obtained information it will be possible to valuate the company.
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Value Estimating of Company
Starý, Michal ; Mašterová, Lucie (referee) ; Režňáková, Mária (advisor)
This master thesis deals with value estimation of company Jihomoravská plynárenská, a.s. using income-based valuation methods. The first part describes theoretical principles, fundametal approaches and business valuation methods. Afterwards strategic and financial analyses are performed. The proposal part includes value generators analysis and forecast, financial plan creation and business valuation by application of DCF method and capitalized past earnings method. In conclusion the estimation of value is stated to 1/1/2010.
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Stanovení hodnoty vybraného podniku
Bartoňová, Magdaléna
The diploma thesis is focused on determining the value of the selected company as of 31. 12. 2021. To verify the going concern principle, a strategic and financial analysis is prepared followed by a forecast of value generators. Subsequently, the value of the company is determined using the income approach, which is compared with the market approach and asset-based valuation to verify the appropriateness of using the income approach of valuation.
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Business valuation
CHALAŠOVÁ, Vendula
Business valuation is a challenging and complex process that involves many important steps. This thesis presents the whole valuation process. The theoretical part is focused on the basic vocabulary related to valuation process and the value of a company. The main objective is to characterize the valuation procedures and principles in the selected company and to determine the value of the company as of a certain date requested by the owner. In order to achieve the most accurate value, an analysis of the micro and macro environment in which the company operates is carried out. In the next part of my thesis, a financial analysis informing about the company's financial health was performed. The most important step is forming a financial plan for the next 5 years, which is a necessary component for determining the value of the company using the FCFF method (Free cash flow to the firm).
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Patent Value Determinants
Štefánková, Stanislava ; Korytárová, Jana (referee) ; Němec, Daniel (referee) ; Polednáková, Anna (referee) ; Režňáková, Mária (advisor)
The dissertation extends the line of research in the field of patent valuation by interconnecting two main strands, the evaluation of quality of patent rights based on their characteristics on one hand, and monetary valuation of patents as assets on the other hand. Moreover, the dissertation proposes and verifies the idea that the value of a patent is driven also by the ability of its owner to use the competitive advantage gained. The aim is to identify characteristics of Czech corporate patents and their owners that affect their value and to propose a way to implement this knowledge in monetary patent valuation. The effect of several ex ante and ex post indicators on patent's life was analysed employing survival analysis methods. Factors that significantly affect the lifespan of patents of Czech companies were identified using the Cox proportional hazard model. The company’s ability to benefit from competitive advantage was measured by its return on assets and return on equity, which were described by a linear mixed model. Finally, the combined effect of patent characteristics and the firm’s ability to materialize the competitive advantage on patent renewal was analysed employing the joint model for longitudinal and censored data. The results revealed positive effect on the chance of patent renewal of patent backward citation, and the concordance level between patents' technological-class codes and those of their antecedent, i.e., documents it refers to. Conversely, the size of the patent portfolio and the number of inventors have a negative effect on the chance of patent renewal. Small and medium businesses’ patents are less likely to be renewed. The effect of the patent family size, the age of the company and the patent pendency time is time-dependent, it initially lowers the chance of renewal, but its strength gradually weakens. The economic life of patents was predicted based on the results of the joint model using Monte Carlo simulation, furthermore, the implications for monetary patent and business valuation were discussed regarding its investment value.
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Valuation of the Firm by Using Income Capitalization Approach
Tománková, Denisa ; Režňáková, Mária (referee) ; Karas, Michal (advisor)
The diploma thesis is focused on estimation the value of ABC, s. r. o. by using the income capitalization approach as of 1/1/2022. The theoretical part of the work deals with the definition of important concepts, the definition of methods and the entire process of company valuation. The practical part is focused on the company ABC, s. r. o., which is the subject of the valuation. A strategic and financial analysis, a forecast of value generators and a financial plan of the company was carred out. The last part of the diploma thesis determines the resulting estimate of the objectified value of the selected company using the discounted cash flow method.
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Valuation of Engineering Company using Income Capitalization Approach
Pejchal, David ; Širilla, Jiří (referee) ; Režňáková, Mária (advisor)
This master thesis deals with a valuation of the company FLSmidth spol. s r.o. It is focused on finding its maximally objectivised value, for the future strategic planning purposes (as of 1st January 2021). The chapters about strategic and financial analysis are followed by value drivers and a financial plan that provides a basis for the chosen valuation method DCF APV. Based on this metod the final valuation is estimated.
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Valuation of the Firm by Using Income Capitalization Approach
Boček, Tomáš ; Dongres, Marek (referee) ; Karas, Michal (advisor)
This diploma thesis is focused on estimation the value of American company Nucor Corporation by using income capitalization approach, specifically discounted free cash flow method as of 31.12.2021. The thesis estimates the objective value. The theoretical part of this thesis is describing the key terms and analytical methods which are used in the practical part of the thesis. The practical part is focused on description of Nucor Corporation, which is the subject of the valuation and strategic and financial analysis and creation of the company’s financial plan. In the end of the practical part the business valuation itself is performed by using the discounted free cash flow method to estimate intrinsic value of the company’s stock. Final step is comparsion of the intrinsic value and market price of the stock.
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