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The Method of DCF Simulation and Analysis for Small Wi-Fi Networks

100%
Dolińska I., Rządkowski G.
Zeszyty Naukowe Uczelni Vistula
|
2014
|
issue 38/2014 Informatyka
50-64
EN
WLAN networks have become very popular at home and in small offices. The wireless network users need the high throughput, but this throughput is decreased by many factors. These factors include primarily interference from another wireless devices and Wi-Fi protocol legacy. The authors analyse Mac layer factors which diminish the network throughput. The DCF algorithm is analysed in details, too. The simulations incorporating Monte Carlo method have been performed to simulate Wi-Fi network in the time domain. The 5 GHz band network with a variable number of stations is examined to check how the station number affects DCF parameters. The dead time is calculated for different data rates to analyse how this parameter reduces the maximum network throughput.
PL
Sieci WLAN stały się bardzo popularne w domu i w małych biurach. Użytkownicy sieci bezprzewodowych potrzebują wysokiej wydajności, lecz wydajność ta jest zmniejszana przez wiele czynników. Czynniki te obejmują przede wszystkim interferencję ze strony innych urządzeń bezprzewodowych i spuścizny protokołu Wi-Fi. Autorzy analizują czynniki w warstwie MAC, które zmniejszają przepustowość sieci. Dokonano również szczegółowej analizy algorytmu DCF. Przeprowadzono symulacje z zastosowaniem metody Monte Carlo w celu dokonania symulacji sieci Wi-Fi w domenie czasowej. Zbadano sieć w paśmie 5 GHz przy zmiennej liczbie stacji w celu sprawdzenia, jak liczba stacji wpływa na parametry DCF. Obliczono czas martwy dla różnych szybkości transmisji danych dla zbadania, jak parametr ten zmniejsza maksymalną przepustowość sieci.
2
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A Coherent Model of DCF Valuation

99%
Patena W.
Journal of Entrepreneurship, Management and Innovation
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2011
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vol. 7
16-28
EN
Business valuation through DCF is recognized as one of the most popular valuation approaches. DCF valuation models, however, have become extremely complex. Modeling requires plenty of input data to be processed, the process is done in many stages, and the data obtained on each of the stages may be interrelated. The process then is not simply a chain of tasks. The modern models work via sophisticated mechanisms of loops being triggered whenever a new piece of information is revealed and the whole model needs updating. Technically speaking, in the spreadsheets environment, this may only be done with the use of iterations. The valuation model should also be subjected to the sensitivity analysis, which is able to quantify the impact of every single assumption made on the final company value. The analysis points out the set of critical assumptions, which have the major impact on the calculated company’s value. Apart from quantifying the impact of the assumptions, the analysis runs qualitative checks on the assumptions assessing the robustness of the arguments standing behind the critical factors for valuation. Consequently, the sensitivity analysis improves the objectivity of the model and mitigates the exposure for the possible results manipulation. The sensitivity analysis reveals its critical role in the valuation process and proves that it should be considered as the standard step in every DCF valuation.
3
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VALUATION OF EMCINSMED PLC. – HOW DOES A COST OF CAPITAL THAT TRACKS CAPITAL STRUCTURE INFLUENCES THE VALUE OF A COMPANY? (Zastosowanie technik iteracyjnych w wycenie przedsiebiorstwa – wycena EMCINSMED S.A.)

99%
Patena W.
Finansowy Kwartalnik Internetowy e-Finanse
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2010
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vol. Special Issue
15-27
EN
DCF is the most respected method of company valuation. However, it does have a flaw related to the fact that the weights (share of debt and equity in total financing) that are used are based on book values. The problem may be overcome by using a technique based on iterations. In a real-life case, when one has to deal with numerous parameters and time periods, a numerical solution seems to be the only feasible approach. It is a chain of formulae that becomes so integrated that the information between cash flows and cost of capital moves freely. Loops run along columns (from V to WACC, and from E to k) and lines (from one year to another). The cost of capital 'tracks' the capital structure and changes accordingly. The valuation is recursive, going backwards in time. In general, the recursive method of company evaluation overcomes a fundamental problem that is often ignored by many other methods: the fact that the cost of capital depends on the financial structure. Here in the paper, the valuation of Emcinsmed plc. company is done in order to present the i-DCF valuation method. The company is highly leveraged, hence it serves as a good example.
4
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Sztuka wyceny przedsiębiorstw we wczesnej fazie rozwoju

98%
Wieczorek S., Woźniak J.
Kwartalnik Nauk o Przedsiębiorstwie
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2019
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vol. 52
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issue 3
89-99
EN
Valuing an early stage company is a big challenge mainly because of the short history, limited scope or lack of financial data and many uncertain factors that impact its future development. Usually, the younger the company, the more difficult it is to valuate it which is more like art than science. The article presents traditional valuation methods and their variations along with alternative ways to estimate the value of young companies.
PL
Wycena przedsiębiorstwa we wczesnej fazie rozwoju stanowi wyzwanie ze względu m.in. na krótką historię działalności, ograniczony zakres lub brak danych finansowych oraz niepewność wielu czynników wpływających na jej dalszy rozwój. Generalnie, im młodsze przedsiębiorstwo, tym większa trudność przeprowadzenia wyceny, co pod wieloma względami bardziej przypomina sztukę niż naukę. W artykule zostały przedstawione tradycyjne metody i ich modyfikacje oraz alternatywne sposoby oszacowania wartości młodych przedsiębiorstw.
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