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Value drivers of startup projects relevant for venture capital investors in the Czech Republic and valuation methods
Habrnal, Marek ; Špička, Jindřich (advisor) ; Starý, Oldřich (referee) ; Špaček, Miroslav (referee)
The main objective was to create a normative model of determining the value of early stage for companies in the seed and start up stage. The model should be applicable to entrepreneurs and investors, taking into account the assessment of the value of qualitative factors. Another aim was to identify the significant factors affecting the value of early stage companies in the seed and start up stage, i.e. at a time when there are no or very little revenues. Based on a research among investors and other experts on the valuation of early stage companies and venture capital, the most significant factors were not only identified, but also determined by their weight. The quality of evaluating investment opportunities has a major impact on the profitability of the investor´s capital. Current knowledge of the key value drivers and the mechanisms of valuation can help businesses to set realistic expectations when trying to raise capital to finance the startup of the project. It is therefore necessary to provide a clear methodological framework applicable to both parties of investing. The actual research was divided into two phases - individual interviews with investors and questionnaires. It was confirmed that the most crucial factors are those associated with quality management and company founders.
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Valuation of company SKODA AUTO, a. s.
Opletalová, Milena ; Scholleová, Hana (advisor) ; Habrnal, Marek (referee)
The purpose of my diploma thesis is to figure out the value of company SKODA AUTO, a. s. for the large foreign investor. The valuation will be carried out using DCF entity method, MVA method and market comparable approach by method of comparable companies. Valuation will be made to 30 9th 2013. This thesis is able to serves for the broader professional community for evaluating of the effectiveness of managing of one of the strategic Czech companies by the large foreign investor. The valuation contains financial and market analysis of the company, financial plan and value drivers of SKODA AUTO a. s.
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Economic analysis of a chosen company
Jírová, Magda ; Vávrová, Hana (advisor) ; Habrnal, Marek (referee)
The Master's Thesis includes an economic analysis of the company Pivovar Rohozec, a. s. for the period 2007 to 2012. The main goal of this thesis is to find out an achieved financial health of the brewery and also how the firm is compared with the competition. The thesis is divided into two parts, it begins with a description of the methodology, continues with the practical part, where the economic analysis of the Pivovar Rohozec, a. s. is performed. The aim of Marter's Thesis is to apprise the balance rules, the financial analysis, the effects of financial and operating leverage, the Economic Value Added (EVA) indicator, evaluate indexes for prediction of bankruptcy and creditworthiness and also the inter-company comparisons.
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Business plan
Poláková, Jaroslava ; Krause, Josef (advisor) ; Habrnal, Marek (referee)
The aim of the thesis is to prepare the business plan of café bar located in the centre of Prague. The whole thesis is divided into two parts. The theorethical part defines structure, content and principles of drawing up a business plan. The practical part deals with description of the company, analysis of its environment, determination of conditions of doing business in this specific area and processing of the financial plan. Financial plan is prepared for three scenarios for the period of three years and it consits of particular Profitability Ratios and Investment Evaluation Methods.
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Valuation of the company Rodinný Pivovar BERNARD a.s.
Dolzhenko, Elena ; Scholleová, Hana (advisor) ; Habrnal, Marek (referee)
The aim of this thesis is to determine the value of the company Rodinný Pivovar BERNARD a.s. as of 31st of December 2013. The company is valuated using discounted cash flow (FCFF and FCFE) method and economic value added method. The methodology section contains theoretical basis which is necessary for determining the value of the company. Theoretical knowledge is applied in the practical part. The practical part includes strategic analysis, in which the beer market in Czech Republic was analyzed, financial analysis, which assesses financial performance of the company. The conclusion contains a statement about the value of the company.
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Financial Strategy of Tech Start-up
Dunovský, Tomáš ; Tyll, Ladislav (advisor) ; Habrnal, Marek (referee)
This Bachelor's Thesis aims at launching a technology start-up project within a marketing agency named Via Caroli. Recently founded project offers CDN (content delivery network) services on a global market and aims to maximize profit and the number of customers. The Thesis is divided into two parts which are connected. The first part is theoretical and includes definitions that are essential for building a business plan, marketing strategies, technology and project's cash flow management. The second part is practical and focuses on a strategy of launching a new service on a global marketplace, competition analysis and utilizing internal resources to build a group of businesses offering various services in the field of online marketing, which could create a synergistic effect. The purpose of this Bachelor's Thesis is creating a strategy for the company's most critical period, which will lead to fulfilling objectives of Via Caroli.
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Valuation of the company CARLA spol. s.r.o.
Mrázová, Kristýna ; Scholleová, Hana (advisor) ; Habrnal, Marek (referee)
The aim of this thesis is to determine the market value of the company CARLA spol. s.r.o. to April 30, 2014 for external investor. The theoretical part details the metodologie for valuation the company. In practical part is presented the company, then is performed strategic and financial analysis. An important part of the evaluation process is a analysis of the value generators on the basis of which the financial plan is built. An essential assumption for evaluation is determining a discount rate. As a valuation method was chosen the yield method of discounted free cash flow to the firm.
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Business plan
Ostrý, Marek ; Krause, Josef (advisor) ; Habrnal, Marek (referee)
The final thesis deals with creating the business plan Letsgood.com s.r.o., which create modern software. Thesis is focused on strategic management and practical experiences of the author, which are gathered during his study, employment in the software company and his business. The aim of the thesis is to create a business plan up to 2016. In the theoretical part, author focuses on the comparison of various definitions of entrepreneurship, strategic corporate management and startup establishment. The beginning of the practical part describes company and its products. Next chapter forms definition of the market category, market and strategic analysis. The result of the analysis is projected to marketing strategy. Chapter people and financial plan eventually gives readers a realistic picture of the company's ambitions.
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Evaluation of prepared investment project
Stránská, Eva ; Scholleová, Hana (advisor) ; Habrnal, Marek (referee)
The topic of the Master's Thesis is an evaluation of a real prepared development project considering strategic analysis. The strategic analysis contains an evaluation of current and expected macroeconomic situation including development of residential market in whole Czech Republic and Prague. The aim is to give a recommendation to investors whether to realize intended investment or not. The theoretical part clarifies specifics of investment decisions, defines entry parameters for investment evaluation and as well as introduces of particular stages of the evaluated investment project. In conclusion of theoretical part is described risk analysis. Introduction of the practical part is presentation of chosen development project. It is followed by analysis of its internal a external potential. After that comes the definition of entry values for evaluation of project by dynamic methods. The conclusion of the practical part includes sensitivity analysis and complex evaluation of investment project.
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Evaluation of investment project – student housing
Vecán, Viktor ; Scholleová, Hana (advisor) ; Habrnal, Marek (referee)
The aim of the thesis is to evaluate an investment in refurbishment and subsequent maintenance of the property as accommodation facilities for students, and to give investors a recommendation on whether to implement the project. A market analysis in the thesis is used to identify a suitable area for the project implementation. Next part of the thesis introduces the investment project and its parameters in line with the investor's strategy. Last part of the thesis is dedicated to the evaluation of the financial plan and a sensitivity analysis.
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