The Effects of a Change in the Environment on Business Valuation Using the Income Capitalization Approach

• Autorzy: Mária Režňáková , Michal Karas
• Języki publikacji: EN

Abstrakty

EN

Determining the company value in the conditions of unstable development is a very difficult, almost sophisticated activity. The experience of authors confirms high sensitivity of the resulting company value in relation to critical input parameters, which are known as value drivers. One of these drivers, in case of determining the company value using the income capitalization approach, is the expected sales. In practice, some authors, but mainly experts, limit sales forecast to extrapolation of the identified trend of the past development, while neglecting the importance of the strategic analysis. The aim of the strategic analysis is to identify all factors which may influence future company objectives, i.e. also future sales. This article provides a possible approach to the correction of sales forecast based on the information gained from the strategic analysis. (original abstract)

Słowa kluczowe

EN

Strategic analysis; Enterprise valuation; Sales forecasting; Valuation of the company

PL

Analiza strategiczna; Wycena przedsiębiorstwa; Prognozowanie sprzedaży; Wycena wartości przedsiębiorstwa

• Czasopismo: Equilibrium
• Rocznik: 2012
• Tom: 7
• Numer: nr 2
• Strony: 119--137

Twórcy

autor

Mária Režňáková

• Brno University of Technology, Czech Republic

autor

Michal Karas

• Brno University of Technology, Czech Republic

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