|
|
Value Estimation of a Company
Žďárský, Petr ; Beneš, Petr (referee) ; Kocmanová, Alena (advisor)
This master’s thesis is concerned with the issue of determining the value of the company based on theoretical assumptions mentioned in the introductory section of this thesis. In the practical part of the thesis is the company Trial servis, s. r. o. analyzed and evaluated.
|
|
|
Quantitative Link between Founder-CEOs and Total Shareholder Return
Chyba, Jakub ; Kočenda, Evžen (advisor) ; Gregor, Martin (referee)
In our work we aim to study the effect of Founder-CEO presence in a company on excess shareholder returns. Hence, this work continues in the footsteps of asset pricing literature studying statistical effects of variables such as of Beta, Size and Price to Book ratio. We gather data on panel of NASDAQ 100 companies and note presence of firm and time effect in our data. In this situation we use two methodologies to try to tackle the issues in our data. Specifically, we employ Hausman Taylor approach and Fama Macbeth regression. We find some evidence in favour of Founder-CEO effect, yet overall we arrive to inconclusive results. Our Hausman Taylor approach arrives to positive statistically significant effect at Founder- CEOs, while Fama Macbeth arrives to insignificant effect. We note that different issues with endogeneity might be an important factor behind the difference, yet we argue that given our options the methods employed are valid choices.
|
|
|
Business valuation of PETROF, spol. s r.o.
Stříteský, Lukáš ; Jahodová, Lucie (advisor) ; Ryba, Jakub (referee)
The goal of the thesis Business valuation of PETROF, spol. s r.o. is to determine the market value of the company as at 1st January 2016. The thesis is divided among six parts. In the first part the company is introduced. Next parts are concerned by financial and strategic analysis of the company to assess over financial health and internal and external potential. Following part is analysis of value drivers which are crucial for creating of the financial plan. The final part is the valuation of the company by using of the DCF Entity method. Determined value is compared and evaluated by the comparison of EV/EBITDA multiple.
|
|
|
Company valuation
Brada, Jiří ; Pokorný, Jan (advisor) ; Hraba, Zdeněk (referee)
The aim of this thesis was to comprehensively describe the valuation process, emphasize the significance of each part and point out possible pitfalls. The methodological valuation theory is not regulated in the Czech Republic, with a few exceptions, thus the credibility of the final value depends on the economic quality of applied process. Before the valuation methodology itself is applied, there has to be carried out both strategic and financial analysis providing the inputs for the applied models. Strategic analysis examines both general macroeconomic conditions, which could affect future performance of the company, and relevant market the company operates on within the competitive landscape. Strategic analysis provides the inputs into subsequent financial plan, primarily based on historical financial performance of the company, and serve as its corrective. In this thesis there were analyzed yield-based and market multiples methods, complemented by asset-based approach. Yield-based methods, i.e. DCF and EVA, are based on discounted future value which will the company generate. That implicates the suitability of its application for the companies with predictable financial plan. That means mostly companies with stable financial history, in case of young innovative startup the usage of such a method...
|
|
| |
|
|
Valuation of manufacturing enterprise
Korkisch, Jaroslav ; Neumaierová, Inka (advisor) ; Hájek, Jiří (referee)
The aim of the thesis Valuation of manufacturing enterprise is to determine the value of the company to the date December 31, 2015. First of all, it introduces the company. Subsequently, the strategic analysis, which is characterizing the market, its future development and market share of valued the company. After a financial analysis by classical methods and INFA approach which are the basis for set up a financial plan and planed financial reports. And the financial plan is a base for the valuation of company by discounted free cash flow to the company.
|
|
|
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.
|
|
|
Value Estimation of a Company
Žďárský, Petr ; Beneš, Petr (referee) ; Kocmanová, Alena (advisor)
This master’s thesis is concerned with the issue of determining the value of the company based on theoretical assumptions mentioned in the introductory section of this thesis. In the practical part of the thesis is the company Trial servis, s. r. o. analyzed and evaluated.
|
|
|
Valuation of the company SaM silnice a mosty Litomyšl a.s.
Křenková, Pavla ; Sieber, Patrik (advisor) ; Štamfestová, Petra (referee)
The goal of the diploma thesis called "Valuation of the company SaM silnice a mosty Litomyšl a.s." is to determine the objectified value of the company SaM silnice a mosty Litomyšl a.s. as a whole for the shareholders and creditors to the date 31. 3. 2015. The diploma thesis is composed of two parts - theoretical and practical. In the theoretical part, the basic terminology is explained and the individual valuation methodology is being introduced. In the practical part, the real data of the concrete company is being used and the methodology mentioned in the theoretical part is being applied. Particularly, the practical part deals with the introduction of the company, the analysis of macro and micro conditions, financial analysis and the compilation of financial plan. For the valuation, the method of discounted free cash flow to the firm is being utilized. The outcome of the diploma thesis is determining the value of the company which is CZK 33,000 K to the 31. 3. 2015 and its comparison with its real selling price.
|
|
|
Valuation of Phillip Morris Czech Republic, Inc.
Šusták, Denis ; Dvořáček, Jiří (advisor) ; Boukal, Petr (referee)
The aim of this diploma thesis is first of all clarify the topic of the valuation and the methods of valuation in the first theoretical part and then apply these methods on the selected company Philip Morris, Inc. The theoretical part explains the reasons to perform valuation and how to do it. The practical part consists of introducing the company being valuated and afterwards performing all the analysis explained in theoretical part. The strategic analysis consists of PEST analysis and Porter five forces model. In the financial analysis are analyzed absolute indicators, ratios and differential indicators. Based on the results of both strategic analysis and financial analysis financial plan is created. After this, valuation is made via different methods. After the valuation a brief summary follows with results of this thesis.
|
guest ::
