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Company valuation
Pirkl, Jakub ; Kislingerová, Eva (advisor) ; Strouhal, Jiří (referee)
The aim of this thesis is to estimate the investment value of Pivovar Holba a.s. by the valuation date of 1.1. 2015. After an introduction of the company a financial and strategic analysis is conducted. These are followed by the valuation of value drivers and their prognosis, which serves as a basis for a financial plan. Afterwards, the company is valuated based on the knowledge from previous chapters using three methods out of which the greatest emphasis is put on DCF entity. Conclusions of this thesis may serve as a basis for the owner's or potential investors's future decisions.
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The business Evaluation
Bilanyč, Mykola ; Kislingerová, Eva (advisor) ; Mikeš, Jaroslav (referee)
The main goal of this Master s Thesis is to perform market valuation of the company A.D. Tax s.r.o. using discounted cash flow method from the perspective of subject who has sufficient access to internal company s information. The theoretical part contains contains all valuation techniques which were obtained from official literatures and internet sources. The practical part deals with the application of theoretical knowledge to real enterprise and resulting valuation.
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Valuation of the company DEKTRADE, Plc.
Pop, Tomáš ; Kislingerová, Eva (advisor) ; Plaček, Jan (referee)
The main objective of this thesis is to determine the market value of the compa-ny's equity DEKTRADE, Plc. to the valuation date 1st January 2016. The sec-ondary objective is to predict the growth of the market. These predictions should help the company's management. Thesis will be typically divided into theoretical part that aims to introduce readers to the issues of valuation and introduce methods that will be used in subsequent practical part. The practical part begins with a strategic analysis to be followed by a financial analysis. Following the distribution of assets to the operationally necessary and unnecessary forecast of value and a financial plan. The actual awards will be made using the method DCF entity. Results will be compared with the book value of equity.
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Valuation of CEZ
Šubák, Miloš ; Kislingerová, Eva (advisor) ; Smrčka, Luboš (referee)
Thesis deals with valuation of the company ČEZ, Inc., who heads one of the largest energy concerns in Europe. CEZ Group is a vertically related, which means that in its activities operates at all levels of power. This work consists of theoretical and practical part. The theoretical part describes the basic theoretical knowledge of business valuation. The practical part is followed by application of that knowledge and values the company with two method of measurement - the discounted cash flow method and the market comparison method. Valuation itself is accompanied by strategic and financial analysis.
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Theoretical and Practical Approaches to Private Equity under Conditions of the Czech Republic
Rajchlová, Jaroslava ; Kislingerová, Eva (referee) ; Rejnuš, Oldřich (referee) ; Suchánek, Petr (referee) ; Zinecker, Marek (advisor)
Author of this dissertation focuses on venture capital financing in the Czech Republic. Individual aspects of venture capital financing from the perspective of investors and also businesses are researched and evaluated in this work and formulated proposals for changes that may lead to the development of venture capital financing in the Czech Republic .This research is based on findings published in foreign scientific journals and own research. This dissertation has several scientific objectives. It is necessary to identify the evaluation criteria used by the investors to evaluate the proposed business plans. It is also important to research the nonfinancial added value and to determine the forms of support businesses receive from the investors. The final objective is to identify the limitations of venture capital financing in the Czech Republic. A list of recommendations that should improve the condi-tions of venture capital financing is formulated based on these identified limitations. Primary research was conducted with the help of questionnaires and interviews. Resulting qualitative data was evaluated with the help of Microsoft Excel. Thorough analysis of the qualitative data allowed the formulation of conclusions which can be found in the final part of this work. This dissertation provides a complex view of venture capital financing in the Czech Republic, its specifics, conditions and limitations.
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Valuation of Měšťanský pivovar v Poličce, a.s.
Šedivý, Petr ; Kislingerová, Eva (advisor) ; Strouhal, Jiří (referee)
The main aim of the thesis is to determine market value of the equity of Měšťanský pivovar v Poličce, a.s. to the date of 1. 1. 2015. There is a secondary goal to determine whether a small industrial brewery is capable to compete with large brewing groups. In the first part, the theoretical and methodological sections explain the basic concepts and procedures that are used in the practical part. The practical part itself is then devoted to the strategic and financial analysis, forecast of value drivers and financial plan. The actual valuation is performed using the method of income, assets and market value. The conclusion corresponds to the objectives set out in the introduction and discusses the relevance and usefulness of the results in practice.
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Analysis of the functioning of the franchise model in the banking sector on the example UniCredit Bank Czech Republic and Slovakia, a.s.
Kollarovská, Aneta ; Kislingerová, Eva (advisor) ; Schönfeld, Jaroslav (referee)
The aim of this thesis is to analyze the functioning of the franchise model in the banking sector on the example UniCredit Bank Czech Republic and Slovakia, a.s. and form a complete picture of the function of this concept. Thesis comprehensively summarizes the principles of the franchise system in banking both the general terms and the specific case of business places of the UniCredit Bank Expres. The topic is current due to the growing popularity of franchising and its potential application in the other areas. In literature the issue of franchising is not fully described neither in a theoretical way nor practical. The subject will be examined through qualitative research of processes, relationships and circumstances in the banking environment in the context of a franchise system. Research methods consist mainly of participant observation and interview at various levels of management and also of analysis the bank documents. The theoretical part is focused on characteristics and development of franchising and solves its legislation. Furthermore, the theory deals with the banking sector and define its relations to franchising. The subject of the practical part is the analysis of the franchising concept function. Thesis will map the process of creating a banking franchise and analyzes the operation of the franchise branches and its position within the bank, including specifics resulting from the nature of business in this field. In conclusion the thesis solves the risks arising from franchising in banking and evaluates the functionality of this model.
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Reorganization as a way of resolving insolvency
Ulrychová, Petra ; Kislingerová, Eva (advisor) ; Smrčka, Luboš (referee)
The aim of this thesis is the definition of reorganization as a way of resolving insolvency in the Czech Republic according to the Act no. 182/2006, about bankruptcy and its solution (Insolvency Act). Theoretical and practical part is divided into basic thematic and logically interrelated units that provide a comprehensive description and information relating to the characteristics of basic terms, a description of the insolvency proceedings, the definition of reorganization, the establishment and implementation of the reorganization plan and the application of reorganization on the company Pilsen Steel s.r.o. The work is divided into theoretical and practical part. Descriptive and analytical methods are used to meet the objective of the thesis.
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Reorganization of Insolvent Companies – a Comparison of Selected Countries
Švoma, Jan ; Kislingerová, Eva (advisor) ; Dvořáček, Jiří (referee) ; Freiberg, František (referee)
This dissertation deals with the non-performing loans of companies that are resolved within insolvency proceedings, with a focus on reorganization. The work compares insolvency systems of various developed markets with those of emerging/transition economies. The practical part is oriented toward domestic insolvency issues in the Czech market based on a survey structured as a questionnaire that was responded to by top insolvency professionals, bankers and lawyers. The survey was followed-up and complemented by structured interviews with selected respondents. The work also entails practical observations arising from the author´s recent working experience with debt-recovery both in the Czech market and abroad. The dissertation seeks answers regarding whether reorganization provides banking creditors with added-value and the transferability of western approaches to reorganization in the context of the environment of transition economies. A clear answer to this complex question is not found and based on his research the author remains skeptical as to the frequent and often over optimistic opinions provided in support of the general benefit of reorganizations.
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