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National Repository of Grey Literature 2 records found  Search took 0.00 seconds. 
Possibilities of Deepening the Theory and Practice of Investment Decisions with an Emphasis on Real Options
 Oceláková, Petra ; Valach, Josef (advisor) ; Hrdý, Milan (referee) ; Choulík, Petr (referee)
This dissertation deals with selected areas within capital budgeting theory and practice. The first part is focused on possibilities how to improve traditional financial metrics as net present value and internal rate of return by using graphical tools for their interpretation. The main practical problem can be considered not the methodology itself, but the inability to predict future cash flows correctly. The special attention is paid to depreciation in connection with Czech accounting and tax legislation and its influence on capital decisions. The second part of the dissertation concentrates on real option analysis. The crucial difference between net present value and real options analysis is in how these methods deal with the risk. Mathematical approach is used to derive how the volatility and other parameters affect the theoretical value of an investment determined by real option. The more volatile the future cash flows are the higher theoretical value of the real option should be. Nevertheless, there are some exceptions that are analysed in this paper. In final chapter, total cost of ownership and real option analysis are used to evaluate option to switch from on-premise IT solution to cloud computing.
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The selected investment project effectiveness evaluation
 MINARČÍKOVÁ, Jana
The central topic of this bachelor work is The selected investment project effectiveness evaluation. Its main objective is to create a system of economic investment evaluation which will enable to valorize the chosen project efficiency. In the practical part a company Ingersoll-Rand Equipment Manufacturing Czech Republic ltd placed in Kolín investment is inquired. The chosen investment project was introduced and later explored. The cash flow definition was formed and consequently particular coefficients were counted. These taken namely into account were its return on investment period, its net present value and its inner yield percentage. After calculation realization the investment was proved as irrecoverable. The investment realization itself brings discounts therefore an attempt to use tax shield was carried out. After considering the tax influence on the investment the project was characterized as efficient. It has to be taken into account that the mentioned tax shield can be used only in case that the business is profittable. The 2012 profit and loss account shows that the company met the profit condition, therefore the variation including the tax effect may be applied.
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