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Estimation of the Value of the ŽĎAS, a. s.
Štoll, Karel ; Mačejovský, Jaroslav (referee) ; Karas, Michal (advisor)
This thesis deals with the determination of the value of the joint-stock company ŽĎAS using the income approach. To determine the value of the yield method was used the DCF method in variant entity and EVA also in variant entity. The theoretical part is mainly focused on describing the procedure of determining the value of the company from the definition of the enterprise, the categories of value and purposes awards to description of methods and their specific process. The practical part is attended of determining the value of the company ŽĎAS at the level of an objective value that can be considered generally acceptable. Determining of the value is preceded by processing of strategic and financial analysis and compilation of value drivers and financial plan. Determination of value is made at the date of the first 1st 2014, and should be only used for internal needs of the stock company ŽĎAS.
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The Specifics of Financial Management of Holdings Companies
Ficbauer, David ; Kočenda, Evžen (referee) ; Král, Bohumil (referee) ; Zinecker, Marek (referee) ; Režňáková, Mária (advisor)
The main purpose of the thesis is to explore the specifics of the financial management of holdings companies in the Czech Republic with an emphasis on the area of financial management. However, the author assumes that persistent reasons for holding creation is using of synergy effects consisting mainly of centralized management of cash flows to minimize the cost of capital and minimizing the risk of an individual investor who actively makes managerial functions in view guarantees of individual companies. It was found the lack of a comprehensive and systematic approach for a qualitative research. A total of 15 holding companies was use for the qualitative research. The outcome gives many answers concerning the specifics of the financial management of the holdings companies. It seems guarantee and minimizing cost of capital are key points. The synergistic effect of the holding companies can be used when transferring financial means between companies holding. The impact of the transfer of available financial means was simulated for holding No. 13. It was clearly shown to decrease WACC at one of the companies within the holding.
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Evaluation of the Financial Situation of a Company
Harbichová, Kamila ; Kočí, Iva (referee) ; Kocmanová, Alena (advisor)
The diploma thesis occupies with the evaluation of financial health of the company Východočeská plynárenská, a. s. by traditional and less famous methods of financial analysis. It presents suggestions to improvement the company´s financial situation on the basis of financial analysis´s results. Contains a recommendation to use the concept of economic value added as complex tool for evaluation of financial situation.
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Valuation of a Firm Operating in the Engineering Industry
Sýkorová, Pavla ; Karas, Michal (referee) ; Režňáková, Mária (advisor)
This diploma thesis is devoted to determining the value of a company operating in engineering. The work is divided into six parts. The first part presents the objectives of the work and processing methods. The next part contains theoretical background. In the third part, the awarded company is subjected to a strategic analysis. The following chapter deals with value generators, which are further supplemented in chapter five, which contains the financial plan. The last chapter presents the final valuation of the company and the change of input parameters.
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IMPACT OF SYNERGIC BUSINESS ON COMPANY VALUE
Mašterová, Lucie ; Režňáková, Mária (advisor)
The doctoral thesis is dealing with the questions about synergy business which is understood as clusters, strategic alliances and franchise. It investigates the influence of the selected synergy business on the change of the company value (market value or the objective one). The topic reacts on the contemporary economic trends where fusions and grouping of companies is happening in more levels. One of them is the fusion and acquisition. Second one are various forms of alliances and groupings which allows to companies cooperation, sharing of knowledge, marketing, risks, know-how etc. They allow to the small and middle size companies to increase their competitiveness against the big firms. The doctoral thesis is treating the effect of using one of the form of the synergy business, namely the franchise, on the company value. Because just the increase of the company value should be one of its basic goals. In the framework of the doctoral thesis was made a research with the goal to identify the changes of selected value generators, which determine as a whole the company value. On the basis of the research results there was made in the final part of the work model evaluation of some variants, simulating the value change caused by the change of the selected value generator and there was quantified the synergy effect coming from the use of synergy enterprise. At the end of the work there are summarised the results of the research and of the model determination of the company value, possible benefits for the practice and theory and there are mentioned some possible starting points for the following scientific work in this field.
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Valuation of the Firm by Using Income Capitalization Approach
Vítková, Veronika ; Kuřátko, Ludvík (referee) ; Karas, Michal (advisor)
This diploma thesis deals with the valuation of the company STROJSTYL, s.r.o. The theoretical part defines basic concepts and methods related to the valuation of the company and mentions the procedure for performing the valuation of the company. Then follows the practical part, in which the company is introduced and theoretical knowledge is applied to the selected company in order to perform the final valuation of the company by 1 January 2019.
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Selection of Appropriate External Financing of Real Estate
Karlíková, Jana ; Bezděková, Kateřina (referee) ; Zeman, Václav (advisor)
The Master´s thesis deals with the selection of appropriate forms of financing reconstruction of real estate from external sources. In particular, it deals with the analysis and comparison of bids each bank loans. The essence of the thesis is to find an optimal variant of the external financing of reconstruction of real estate, including the evaluation of the implementation of the planned investment.
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Valuation of the Firm by Using Income Capitalization Approach
Šviková, Šárka ; Huňatová, Eva (referee) ; Karas, Michal (advisor)
This master thesis deals with the valuation of the firm NHKZ Steel s.r.o. by using income capitalization approach. In the first part, there are described theoretical foundations of the thesis and process used for valuation of the company. The practical part contains the strategic and financial analysis, compilation of value drivers, proposal of the financial plan and cost of capital. At the end of the thesis, there is the valuation of the firm to the date 1. 1. 2017 using the method of discounted cash flow method DCF entities and the economic value added method.
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