TBU Publications
Repository of TBU Publications

Flexibility consideration in equity valuation

DSpace Repository

Show simple item record

dc.title Flexibility consideration in equity valuation en
dc.contributor.author Kramná, Eva
dc.relation.ispartof International Journal of Mathematical Models and Methods in Applied Sciences
dc.identifier.issn 1998-0140 Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued 2012
utb.relation.volume 6
utb.relation.issue 8
dc.citation.spage 934
dc.citation.epage 942
dc.type article
dc.language.iso en
dc.relation.uri http://www.naun.org/main/NAUN/ijmmas/16-482.pdf
dc.subject Business model en
dc.subject Equity valuation en
dc.subject Operation and strategic flexibility en
dc.subject Real options en
dc.description.abstract Static discounted cash flow model fails to capture the value of flexibility in decision-making or determination of business value. Companies from sector of building materials are dependent on the growth of the economy and of course on the commodity price. These companies face and uncertain business environment. To illustrate how the flexibility may influence the value of the company the equity of the analyzed company by applying real options concept is determined. The article concentrates on the valuation under risk and flexibility. Empirically, business model for valuation and corporate financial decisions created by Thomas S. Z. Ho and Sang Bin Lee were tested. The equity value and analyze of the potential impact of active management intervention to company value is accomplished. The paper brings new view on business valuation with integration of flexibility. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1003074
utb.identifier.rivid RIV/70883521:28120/12:43868118!RIV13-MSM-28120___
utb.identifier.obdid 43868211
utb.identifier.scopus 2-s2.0-84871640428
utb.source j-scopus
dc.date.accessioned 2013-01-04T07:27:11Z
dc.date.available 2013-01-04T07:27:11Z
utb.contributor.internalauthor Kramná, Eva
utb.fulltext.affiliation Eva Kramna is with the Finance Department, Tomas Bata University in Zlin, Mostni 5139, 760 01 Zlin, Czech Republic (e-mail: kramna@fame.utb.cz).
utb.fulltext.dates -
utb.fulltext.sponsorship Authors are thankful to the Internal Grant Agency of FaME TBU No. IGA/FaME/2012/013 (Real options approach for company valuation in selected industry) for financial support to carry out this research.
utb.fulltext.projects IGA/FaME/2012/013
utb.fulltext.faculty Faculty of Management and Economics
utb.fulltext.ou Department of Finance
Find Full text

Files in this item

Show simple item record