Enterprise value assessment as an evaluation criterion of a
merger

D 2020

Enterprise value assessment as an evaluation criterion of a merger

KVĚTOVÁ, Hana, Jaromír VRBKA and Petr ŠULEŘ

Basic information

Original name

Enterprise value assessment as an evaluation criterion of a merger

Name in Czech

Hodnocení hodnoty podniku jako klasifikační kritérium fúze

Authors

KVĚTOVÁ, Hana (203 Czech Republic, guarantor, belonging to the institution), Jaromír VRBKA (203 Czech Republic, belonging to the institution) and Petr ŠULEŘ (203 Czech Republic, belonging to the institution)

Edition

160. vyd. Cham, Švýcarsko, Innovative Economic Symposium (IES 2020) - Economic Systems in the New Era: Stable Systems in Unstable World, p. 856-863, 8 pp. 2020

Publisher

Springer Nature Switzerland AG

Other information

Language

English

Type of outcome

Stať ve sborníku

Field of Study

50200 5.2 Economics and Business

Country of publisher

Switzerland

Confidentiality degree

není předmětem státního či obchodního tajemství

Publication form

printed version "print"

References:

URL

RIV identification code

RIV/75081431:_____/20:00001880

Organization unit

Institute of Technology and Business in České Budějovice

ISBN

978-3-030-60928-3

DOI

http://dx.doi.org/10.1007/978-3-030-60929-0_110

Keywords (in Czech)

diskontované cash flow; hodnota podniku; finanční plán; predikce; hodnocení

Keywords in English

discounted cash flow; enterprise value; financial plan; prediction; valuation

Abstract

ORIG CZ

V originále

The aim of this paper is to express the enterprise value for the purpose of a future comparison of the investment revenue in form of a business merger. To fulfil this aim authors use the model of discounted cash flow (DCF), according to reference literature, considered to be the key method of enterprise valuation, namely in the form of free cash flow to firm (FCFF). The predicted values of free cash flow to creditors and shareholders are discounted using the weighted average cost of capital to their current value for the respective years in the time period from 2018 to 2032 and for the period of perpetuity.

In Czech

Cílem tohoto příspěvku je vyjádřit hodnotu podniku pro účely budoucího srovnání výnosů z investic formou fúze podniků. K naplnění tohoto cíle autoři používají model diskontovaných peněžních toků (DCF), který je podle referenční literatury považován za klíčovou metodu oceňování podniku, a to ve formě volných peněžních toků do firmy (FCFF). Predikované hodnoty volných peněžních toků věřitelům a akcionářům jsou diskontovány pomocí váženého průměru kapitálových nákladů na jejich aktuální hodnotu pro příslušné roky v období od roku 2018 do roku 2032 a po dobu perpetuity.

Files attached

Enterprise_value_assessment_as_an_evaluation_criterion_of_a_merger.pdf

Request the author's version of the file

Citovat

KVĚTOVÁ, Hana, Jaromír VRBKA and Petr ŠULEŘ. Enterprise value assessment as an evaluation criterion of a merger. In Svetlana Igorevna Ashmarina; Jakub Horák; Jaromír Vrbka; Petr Šuleř. Innovative Economic Symposium (IES 2020) - Economic Systems in the New Era: Stable Systems in Unstable World. 160th ed. Cham, Švýcarsko: Springer Nature Switzerland AG, 2020, p. 856-863. ISBN 978-3-030-60928-3. Available from: https://dx.doi.org/10.1007/978-3-030-60929-0_110.

@inproceedings{55635,
   author = {Květová, Hana and Vrbka, Jaromír and Šuleř, Petr},
   address = {Cham, Švýcarsko},
   booktitle = {Innovative Economic Symposium (IES 2020) - Economic Systems in the New Era: Stable Systems in Unstable World},
   doi = {http://dx.doi.org/10.1007/978-3-030-60929-0_110},
   edition = {160},
   editor = {Svetlana Igorevna Ashmarina; Jakub Horák; Jaromír Vrbka; Petr Šuleř},
   keywords = {discounted cash flow; enterprise value; financial plan; prediction; valuation},
   howpublished = {tištěná verze "print"},
   language = {eng},
   location = {Cham, Švýcarsko},
   isbn = {978-3-030-60928-3},
   pages = {856-863},
   publisher = {Springer Nature Switzerland AG},
   title = {Enterprise value assessment as an evaluation criterion of a merger},
   url = {https://www.scopus.com/record/display.uri?eid=2-s2.0-85093842559&origin=resultslist&sort=plf-f&src=s&st1=Enterprise+value+assessment+as+an+evaluation+criterion+of+a+merger&st2=&sid=9d9288b3a30077368191d63ab04c24bb&sot=b&sdt=b&sl=81&s=TITLE-ABS-KEY%28Ente},
   year = {2020}
}

TY  - JOUR
ID  - 55635
AU  - Květová, Hana - Vrbka, Jaromír - Šuleř, Petr
PY  - 2020
TI  - Enterprise value assessment as an evaluation criterion of a merger
PB  - Springer Nature Switzerland AG
CY  - Cham, Švýcarsko
SN  - 9783030609283
KW  - discounted cash flow
KW  - enterprise value
KW  - financial plan
KW  - prediction
KW  - valuation
UR  - https://www.scopus.com/record/display.uri?eid=2-s2.0-85093842559&origin=resultslist&sort=plf-f&src=s&st1=Enterprise+value+assessment+as+an+evaluation+criterion+of+a+merger&st2=&sid=9d9288b3a30077368191d63ab04c24bb&sot=b&sdt=b&sl=81&s=TITLE-ABS-KEY%28Ente
L2  - https://www.scopus.com/record/display.uri?eid=2-s2.0-85093842559&origin=resultslist&sort=plf-f&src=s&st1=Enterprise+value+assessment+as+an+evaluation+criterion+of+a+merger&st2=&sid=9d9288b3a30077368191d63ab04c24bb&sot=b&sdt=b&sl=81&s=TITLE-ABS-KEY%28Ente
N2  - The aim of this paper is to express the enterprise value for the purpose of a future comparison of the investment revenue in form of a business merger. To fulfil this aim authors use the model of discounted cash flow (DCF), according to reference literature, considered to be the key method of enterprise valuation, namely in the form of free cash flow to firm (FCFF). The predicted values of free cash flow to creditors and shareholders are discounted using the weighted average cost of capital to their current value for the respective years in the time period from 2018 to 2032 and for the period of perpetuity.
ER  -

KVĚTOVÁ, Hana, Jaromír VRBKA and Petr ŠULEŘ. Enterprise value assessment as an evaluation criterion of a merger. In Svetlana Igorevna Ashmarina; Jakub Horák; Jaromír Vrbka; Petr Šuleř. \textit{Innovative Economic Symposium (IES 2020) - Economic Systems in the New Era: Stable Systems in Unstable World}. 160th ed. Cham, Švýcarsko: Springer Nature Switzerland AG, 2020, p.~856-863. ISBN~978-3-030-60928-3. Available from: https://dx.doi.org/10.1007/978-3-030-60929-0\_{}110.

Detailed Information on Publication Record