KAPITÁLOVÁ STRUKTURA – PROBLÉM VÝNOSOVÉHO OCENĚNÍ PODNIKU

• Authors: Mařík Miloš , Pavla Maříková

Title variants

EN

Capital structure – the problem of income business valuation

• Languages of publication: CS

Abstracts

EN

The article shows the need to assess a capital structure in a discount rate within income business valuation consistently with the financial plan and the final business value. It analyses mistakes resulting from simplified estimates of a capital structure. The article also points out importance of a choice of the appropriate reagent function for equity cost calculation according to a firm’s leverage and it presents proposals for modification of the leveraged beta function and for analytical calculation of equity cost that provide the same firm’s value as the direct recalculation of equity cost by the iterative method.

Keywords

EN

VALUE; BUSINESS VALUATION; EQUITY COST; CAPITAL STRUCTURE; INCOME

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2015
• Volume: 63
• Issue: 3
• Pages: 259 – 277

Contributors

author

Mařík Miloš

• Vysoká škola ekonomická v Praze, Katedra financí a oceňování podniku a Institut oceňování majetku, nám. W. Churchilla 1938/4, 130 67 Praha 3, Czech Republic

author

Pavla Maříková