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Dissertations / Theses on the topic 'Discounted cash flow valuation'

Author: Grafiati

Published: 4 June 2021

Last updated: 26 July 2025

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1

Harrington, Frank. "Agricultural land valuation in Ireland : a discounted cash flow approach." Thesis, University of Salford, 2019. http://usir.salford.ac.uk/49860/.

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Valuing real estate is a key requirement for various stakeholders in the property industry. There are many challenges that include the issue of liquidity, individual real estate charachteristics and lot sizes. As this creates difficulties and with limited sales evidence - an analysis of future income streams (including discounted cash flow approach) is one of the accepted methods of valuing a real estate asset. The rationale for this research emerged from an issue facing the professional doctorate candidate in practice. The researcher identified (1) the lack of comparable sales data and (2) th

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2

Mbokodo, Oupa. "Customer equity as a firm’s valuation technique." Diss., University of Pretoria, 2010. http://hdl.handle.net/2263/24699.

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Return on marketing investment has received attention for a long period of time. On the other hand, customers and the value that they bring to a company have enjoyed increased attention lately. Concepts like customer obsession, customer life time value, customer delight, customer equity and other topics have been researched by a number of scholars. Customer equity as a marketing concept is the latest in marketing research. The concepts purport that management of a company should be able to calculate the value added to the company by its current and future customers. Such value is then discount

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Jens, Paul Justin, and paul jens@csl com au. "Valuation Models for Australian Biotechnology Companies." RMIT University. Economics, Finance and Marketing, 2007. http://adt.lib.rmit.edu.au/adt/public/adt-VIT20080226.120515.

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Biotechnology generated solutions have been hailed as potential cures to many of the problems facing the world today. New therapeutics will eradicate disease, new agricultural products will solve food shortages, and industrial application will improve productivity with reduced environmental impact. Despite the much anticipated benefits of biotechnology, the industry faces significant challenges that must be overcome in the coming decades. Biotechnology is an inherently complex field with a high degree of uncertainty and associated risks. In addition to the risk associated with project de

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4

Reis, Tomé Alexandre Torres dos. "Equity research - Kering S.A." Master's thesis, Instituto Superior de Economia e Gestão, 2019. http://hdl.handle.net/10400.5/19999.

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Mestrado em Finanças<br>Equity research a Kering S.A com o intuito de determinar um determinado price target para o valores das acções da Kering S.A a 31 de Dezembro de 2019. No processo para determinar o price target foram utilizados 3 modelos de avaliação distintos, Discounted Cash Flow Model, Dividend Discount Model e Multiples Valuation dos quais se obteve um price target de 576.44 EUR representando um upside de 8.9% face ao preço base utilizado para esta analise de 520.10 EUR de 1 de Julho de 2019.<br>This project is mainly comprised on an Equity Research of Kering S.A. to determine a ce

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Matos, Paulo Ricardo Oliveira de. "Equity Research - Portucel." Master's thesis, Instituto Superior de Economia e Gestão, 2014. http://hdl.handle.net/10400.5/7631.

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Mestrado em Finanças<br>Este trabalho final de mestrado pretende avaliar a Portucel e qual o preço alvo para as suas acções. Passando também por uma abordagem aos principais modelos de avaliação de empresas, vendo quais são os seus prós e contras e que tipo de informação é necessárioa para conseguir os melhores resultados possiveis na avaliação. Para processeguir com a avaliaçãoda da empresa foi estudada a sua história, estrutura accionista, ambiente macroeconomico e por fim foi feita uma análise SWOT e de forças de Porter. No final foi comparado com outra tese de 2013 que também avaliou a p

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6

De, Kock Neil. "Cluster management synergy valuation: Synthesis and illustration of a discounted cash flow synergy valuation model for cluster management organisations." Master's thesis, University of Cape Town, 2016. http://hdl.handle.net/11427/20440.

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The practice of cluster management has become an integral component to the modern cluster business environment. This research develops a framework for the valuation of synergies generated by a cluster management organisation (CMO) to be used as either a method of (ex-post) management evaluation or (ex-ante) for capital budgeting purposes. The theoretical framework is synthesised from clustering and business alliance (predominantly Mergers and Acquisitions (M&A) and Joint Ventures (JV)), literature. The case of the South African Furniture Initiative (SAFI) was used to inform model development a

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Mičudová, Soňa. "Business Valuation of the company Le Montmartre." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-113700.

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The goal of the diploma thesis is to evaluate company Le Montmartre located in London to know the value of the company when Le Montmartre will be contained from four food shops. It is important to know the value of the company because Le Montmartre business development will take a lot of owner's energy and personal time, so the future value of the business will be a good motivation for him.. This diploma thesis is divided into 2 sections, theoretical and practical. Practical part involved company's introduction, product portfolio, strategic analysis and finance analysis. Company was evaluated

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Stoffers, Rickard, and Deibrant Helena Eriksson. "Business Valuation : A study of the accuracy of the free cash flow to equity approach and the dividend discount model." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Företagsekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-43883.

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Background: In an inefficient market, the intrinsic value of an asset may not be equal to its true market value. Therefore, before engaging in a stock transaction, both the seller and the buyer would want to know the intrinsic value of the stock as neither would want to lose money during the process. An effective valuation model enabling investors to efficiently determine firm values is therefore considered to be a crucial factor. Purpose: The purpose of this thesis is to analyze the free cash flow to equity (FCFE) approach and the dividend discount model (DDM) on 30 Swedish companies. This to

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Bobek, Michal. "Ocenění Třineckých železáren, a.s." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-74361.

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The thesis Valuation of TŘINECKÉ ŽELEZÁRNY, a. s. briefly explains the principals of business valuation and the methods used. In the theoretical part the main emphasis is put on the methods and approaches used in valuation of TŘINECKÉ ŽELEZÁRNY, a. s. Practical part describes the valuation of TŘINECKÉ ŽELEZÁRNY, a. s. The financial analysis mainly assesses the principals of going concern, financial health of a company and then proposes the changes in the structure of assets and liabilities, which could improve the profitability of a company. The financial analysis is based on both horizontal a

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Hamacek, Michaela Maria. "Financial Analysis and Company Valuation of Lufthansa Group." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-205452.

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The aim of the thesis is to provide investors and other stakeholders with an approach how to calculate the fair value of a company and its stocks to make an investment decision. As stock market prices are influenced by many events, they rarely reflect the true underlying value of the company. The company investigated in this thesis is the German airline company Lufthansa. A strategic, a financial and a ratio analysis are performed before the fair value is assessed using the discounted cash flow method under three future scenarios. The analyses revealed a possible undervaluation of the company,

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11

Otterberg, Simon, and August Zetterberg. "Relative and Discounted Cash Flow Valuation on Swedish Listed Companies : How applicable are the methods to companies in different industries?" Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-85602.

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The purpose of this thesis is to look at how the two widely used valuation approaches Free Cash Flow to Firm and Relative valuation can contribute to the explanation of market prices of shares. The study also aims to investigate if it is possible to find any significant differences between industries, while using the two valuation methods. There are a large number of models that are used to value assets and corporations, which have been used for a long time in the banking sector and similar contexts. It is widely known that a single valuation method or model which could predict a future stock

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Daysal, Sercan. "Equity Research of Turkish Airlines." Master's thesis, Instituto Superior de Economia e Gestão, 2014. http://hdl.handle.net/10400.5/7718.

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Mestrado em Finanças<br>A Turkish Airlines (THY) é a companhia aérea nacional da Turquia e tem como objetivo ser uma referência global no setor das companhias aéreas. A THY tem uma vantagem competitiva dada a sua localização central em Istambul. O Trabalho Final de Mestrado que se segue tem como objetivo principal a estimatıva do valor intrínseco das ações da THY, a partir de Dezembro de 2013. Este projeto inclui uma revisão literária aos diferentes métodos de avaliação, enfatizando os seus pontos fortes e fracos. É feita uma análise específica ao nível do sector e da empresa. Procede-se uma

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Kovtunov, Serafim. "Stanovení hodnoty firmy." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-124932.

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The task of the final thesis is to estimate the value of the enterprise in order to sell the minority stock to unknown buyer. Whole the work is divided to two parts. The first one is theoretic part, which is presented by description of strategic analysis, financial analysis, financial plan and valuation methods. Strategic analysis consists of analysis of external potential of company and its competitive strength. The purpose of financial analysis is to show financial condition of the company using chose ratios and other financial tools and methods. The last important part is financial plan. In

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Fetibegovic, Ahmed, and Adam Nilsson. "Real Estate Discounted Cash Flow Model Development and Design : The process of developing a new DCF model at a multinational real estate consultancy." Thesis, KTH, Bygg- och fastighetsekonomi, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-76078.

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Due to increasing skill and awareness of overall functions in programs such as Excel, an increasing number of analysts at real estate firms and consultancies have started developing "desktop" versions of valuation models used for professional appraisal of property value. Due to personal preferences, differences in schools and professional backgrounds, these so called desktop models vary in quality, robustness, accuracy, design and user friendliness. Professional software suites are not suitable either, as they are expensive, hard to learn, hard to adapt to specific needs of the business, outda

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Rascão, Tiago Miguel Ramos. "Equity research - NOS SGPS, S.A." Master's thesis, Instituto Superior de Economia e Gestão, 2020. http://hdl.handle.net/10400.5/21088.

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Mestrado em Contabilidade, Fiscalidade e Finanças Empresariais<br>O Equity Research realizado no âmbito do mestrado de Contabilidade, Fiscalidade e Finanças Empresariais do Instituto Superior de Economia e Gestão (ISEG - Universidade de Lisboa) tem como objetivo avaliar o comportamento das ações da NOS SGPS, SA. Foi efetuado um estudo do setor das telecomunicações que está a desenvolver-se cada vez mais a nível tecnológico, sendo hoje um dos serviços fundamentais para o nosso dia-a-dia. A avaliação foi realizada à data de 31-12-2020. Esta avaliação foi efetuada com a aplicação de dois métodos

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Pospíšilová, Jana. "Oceňování podniku." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2010. http://www.nusl.cz/ntk/nusl-222663.

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The subject of the Master´s thesis is problem of the Estimation of Company Market Value. Theoretical part contains elementary knowledge from literature and possiblities for Estimation of the Company Value. Practical part includes estamation of real company market value by profit method of discounted cash flow.

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Lehmann, Christopher, and Alexander Alfredsson. "Intrinsic Equity Valuation : An Emprical Assessment of Model Accuracy." Thesis, Södertörns högskola, Institutionen för samhällsvetenskaper, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-30377.

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The discounted cash flow model and relative valuation models are ever-increasingly prevalent in today’s investment-heavy environment. In other words, theoretically inferior models are used in practice. It is this paradox that has lead us to compare the discounted cash flow model (DCFM), discounted dividend model (DDM), residual income-based model (RIVM) and the abnormal earnings growth model (AEGM) and their relative accuracy to observed stockprices. Adding to previous research, we investigate their performance in relation to the OMX30 index. What is more, we test how the performance of each m

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Costa, Valdir Rodrigues da. "Equity Research - Banco Atlântico - Europa, S.A." Master's thesis, Instituto Superior de Economia e Gestão, 2017. http://hdl.handle.net/10400.5/14528.

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Mestrado em Finanças<br>O projeto aqui apresentado tem como objetivo realizar a avaliação do Banco Atlântico Europa, S.A., um banco privado de direito português. O Banco iniciou a sua atividade em 2009 e opera, atualmente, nos mercados português e namibiano. O Banco apresenta uma estrutura organizacional flexível, sendo a sua atividade dividida em três áreas, Negócio, Suporte e Controlo. A escolha de avaliar o Banco foi motivada, essencialmente, pelo fato de estar a trabalhar na empresa e com a expetativa de adquirir uma visão holística do Banco e do setor bancário. Além disso, pretendemos, c

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Freitas, Carolina Filipa Abreu. "Equity research Corticeira Amorim SGPS SA : dividend policy under a family-owned company." Master's thesis, Instituto Superior de Economia e Gestão, 2019. http://hdl.handle.net/10400.5/19115.

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Mestrado em Finanças<br>Este projeto contém uma análise financeira exaustiva da Corticeira Amorim S.G.P.S., S.A. (COR). Foi desenvolvido de acordo com as diretivas do trabalho final do Mestrado em Finanças do ISEG e elaborado de acordo com a estrutura recomendada pelo CFA Institute Research Challenge. A COR é uma produtora portuguesa de cortiça, com um foco na produção de rolhas. Esta empresa familiar é líder incontestável de mercado há quase 150 anos, com uma quota de mercado no sector das rolhas de 44% em 2018. Utilizou se o modelo DCF para obter uma recomendação de COMPRA com um preço alvo

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Martinho, Paulo Manuel Tomaz. "Métodos de avaliação de bancos : aplicação a uma instituição financeira portuguesa." Master's thesis, Instituto Superior de Economia e Gestão, 2012. http://hdl.handle.net/10400.5/10396.

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Mestrado em Finanças<br>O setor bancário carateriza-se por possui um elevado grau de regulamentação, incerteza e risco. Devido a essas características os métodos de avaliação de empresas não financeiras têm de ser adaptados de forma a poderem ser utilizados numa avaliação bancária. Esta dissertação seleciona uma instituição bancaria portuguesa para demonstrar os métodos de avaliação existentes e aplica-los a uma instituição bancaria portuguesa. Dadas as cateterísticas do banco em análise, da economia e dos métodos utilizados, encontraram-se divergências entre os resultados obtidos pelos vários

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Brdička, Karel. "Návrh tržního ocenění podniku." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2008. http://www.nusl.cz/ntk/nusl-221958.

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This diploma thesis deals with the company valuation. It contains theoretical background of valuation and description of the most important current methods and attitudes towards determination of market, liquidation and book company value. Subsequently, the theoretical methods are applied on the data of company EUROliftCZ s.r.o. Therefore financial, SWOT and strategic analysis is implemented and future development is forecasted. In concluding part different levels of company value are proposed. The outcome of the thesis is to be used by owners of the company.

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Baião, Marcos Miguel Lourenço dos Santos. "Equity Research - Pfizer Inc." Master's thesis, Instituto Superior de Economia e Gestão, 2015. http://hdl.handle.net/10400.5/10705.

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Mestrado em Finanças<br>A Pfizer Inc é uma empresa líder no desenvolvimento e comercialização de produtos biofarmacêuticos com um portfólio global que inclui medicamentos e vacinas, bem como diversos produtos de cuidados de saúde mundialmente conhecidos. Nos últimos anos, a empresa tem crescido essencialmente através de fusões e aquisições. Em fevereiro de 2015, a Pfizer adquiriu a Hospira, Inc., líder mundial na comercialização de medicamentos injetáveis e tecnologias de infusão, bem como no desenvolvimento de biosimilares. O objetivo deste projeto é determinar o valor intrínseco das ações d

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Rodrigues, Bernardo Gonçalves Jerónimo. "Equity research - Daimler AG." Master's thesis, Instituto Superior de Economia e Gestão, 2017. http://hdl.handle.net/10400.5/14599.

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Mestrado em Finanças<br>O objetivo primordial desta equity research visa analisar o valor justo, a eficiência de mercado e o comportamento futuro das ações da Daimler AG. Para tal o relatório anual de 2015 e 2016 foi detalhadamente analisado e, paralelamente, foi tido em conta um resumo histórico de 10 anos de diversas variáveis dentro das tabelas financeiras e contabilísticas empresariais. Desta forma qualquer assumption terá por base um cenário equilibrado dentro do período estimado, consequentemente visa uma avaliação realista em prol duma avaliação negativa e/ou pessimista. Dentro da revis

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Teixeira, João César Gomes. "Equity research Galp Energia SGPS SA : ESG approach to valuation." Master's thesis, Instituto Superior de Economia e Gestão, 2020. http://hdl.handle.net/10400.5/20854.

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Mestrado em Finanças<br>Este projeto contém uma análise financeira abrangente da Galp Energia S.G.P.S., S.A. (GALP.LS). Foi realizado de acordo com os padrões do trabalho final de Mestrado em Finanças do ISEG e escrito de acordo com as orientações do CFA Institute Research Challenge. A GALP é uma empresa portuguesa integrada de Petróleo e Gás, com uma presença significativa em toda a cadeia de valor da indústria. Esta está presente em alguns dos projetos de Upstream mais rentáveis do mundo e tem sido líder de mercado em Portugal no segmento de Downstream, apresentando mais de 40% da quota de m

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Cardwell, Katharine Jean Zoglauer. "Equity research - Redes Energéticas Nacionais SGPS S.A. : examining DCF valuation model invariance." Master's thesis, Instituto Superior de Economia e Gestão, 2018. http://hdl.handle.net/10400.5/16520.

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Mestrado em Finanças<br>Este projeto contém uma análise financeira abrangente das Redes Energéticas Nacionais S.G.P.S, S.A (REN). Foi desenvolvido de acordo com os padrões do projeto final do Mestrado em Finanças do ISEG e escrito de acordo com as diretrizes do CFA Institute Research Challenge. A empresa em causa foi definida pela CFA Society Portugal, que a selecionou de entre as empresas que integram o Índice PSI20. A REN é o único operador e gestor em Portugal da infraestrutura de transmissão terrestres do Sistema Eléctrico Nacional e do Sistema Nacional de Gás Natural. Uma abordagem de som

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Jorová, Petra. "Ocenění společnosti TBG Betonmix, a.s." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-198277.

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This Master thesis deals witht he valuation of TBG Betonmix, a. s. to the date January 1, 2013. As a valuation method was used the earnings valuation method based on discounted free cash flow to the equity (FCFE). Important parts of Master thesis are analysis of external environment, analysis of building industry and financial analysis of the company. Process of valuation was implemented on the base of well-prepared financial plan and quantification of necessary input variables such as discount rate and rate of growth. Was used regression analysis as the basic method to predict the most signif

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Ouyang, Hanlu. "Equity research – Jimmy Choo PLC." Master's thesis, Instituto Superior de Economia e Gestão, 2018. http://hdl.handle.net/10400.5/15728.

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Mestrado em Finanças<br>Jimmy Choo PLC is a multinational British company operating in the luxury accessories field. Benefiting from a well-developed brand reputation and international retail strategy, Jimmy Choo PLC has had a consistent performance and sustained a positive evolution in revenues in recent years. In this study, we evaluate the value of Choo PLC's shares by determining the firm value and the share value with the collected data before October of 2017. To this end, we did an equity report by making a comprehensive analysis of the company's performance. For more accuracy of the va

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Nunes, João Eduardo. "Equity research on BPI bank." Master's thesis, Instituto Superior de Economia e Gestão, 2015. http://hdl.handle.net/10400.5/10680.

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Mestrado em Finanças<br>Durante as últimas décadas, têm vindo a ser criados e desenvolvidos vários modelos de avaliação de empresas. Estes métodos de avaliação, alguns deles com um alto nível de complexidade técnica, têm por objectivo determinar com o melhor grau de precisão, o valor intrínseco de uma empresa. Geralmente, não há resposta certa para o problema da avaliação de empresas. Na minha opinião, o processo de avaliação está mais perto de uma arte do que uma ciência. Que suposições deveram ser feitas, e quais são os métodos mais adequados para seguir ainda continuam em debate, depois de

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Oliveira, Filipa Dias Fiúza de. "Trabalho de projecto - Equity Research Efacec." Master's thesis, Instituto Superior de Economia e Gestão, 2014. http://hdl.handle.net/10400.5/7632.

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Mestrado em Finanças<br>Efacec é uma empresa que tem sofrido diversas alterações ao longo do tempo, passando de uma pequena empresa industrial para o maior grupo português no campo eléctrico. As suas principais características são o mercado internacional, o constante investimento em inovação e as novas tecnologias. Para além disso tem uma força de trabalho altamente qualificada, resultando numa posição persistente na vanguarda dos sectores em que desenvolve as suas atividades. O principal objectivo deste projeto é a determinação do valor intrínseco das ações da Efacec, através de uma análise

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Nováková, Lucie. "Ocenění firmy ELIT CZ, spol. s r.o." Master's thesis, Vysoká škola ekonomická v Praze, 2016. http://www.nusl.cz/ntk/nusl-261812.

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This thesis deals with methods and options of valuation of companies, valuation process and everything that goes with it. An integral part of the strategic analysis is financial analysis and financial plan to years 2016 - 2020. For the financial analysis following methods have been used: vertical and horizontal analysis, a ratio indexes and the balancing rules. The financial plan has been drawn up by value generators. The aim is to valuate a specific company ELIT CZ, Ltd., which is engaged in the purchase and sale of spareparts for cars. I used to valuation by discounted cash flow method (DCF)

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Božková, Klára. "Ocenění podniku ABC a.s." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2013. http://www.nusl.cz/ntk/nusl-232781.

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This thesis deals with the valuation of the selected company by revenue valuation methods. In the first part of the thesis is defined valuation theory and these findings are then used in the analytical and practical work. In the analysis of the selected company characterized, there is a defined market in which it operates and the strategic and financial analysis. In the practical part is based on the results of analysis and business valuation using the discounted cash flow.

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Julficarali, Sara. "Equity research - Sumol+Compal." Master's thesis, Instituto Superior de Economia e Gestão, 2015. http://hdl.handle.net/10400.5/10681.

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Mestrado em Finanças<br>A Sumol+Compal é a líder do setor das bebidas não-alcoólicas, e a única empresa portuguesa de bebidas cotada no índice NYSE Euronext Lisboa. Detendo uma quota de mercado superior a 25%, a empresa foca a inovação e a diversificação como parte da sua estratégia. Desta forma, conseguiu aumentar as suas vendas e expandir o seu negócio, fortalecendo o seu posicionamento internacionalmente. Através de uma análise detalhada à empresa e aos seus resultados, aos objetivos e estratégias da empresa, e à indústria envolvente, este trabalho pretende avaliar a Sumol+Compal e determ

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Slavotínková, Zuzana. "Hodnocení efektivnosti investic do snižování provozních nákladů v Národním divadle." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-16940.

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The aim of my diploma thesis is the valuation of investments to reduce operating costs at the National Theatre. For the valuation I used the discounted cash flow approach in the alternative with FCFF and FCFE. I also evaluated the effectiveness of the investment based on static and dynamic methods. In the theoretical part, I focused on the description of valuation approaches and methods used for the valuation of investment efficiency.

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Karasová, Pavlína. "Tržní oceňování podniku jako podklad pro strategická rozhodnutí." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2008. http://www.nusl.cz/ntk/nusl-376765.

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The subject of this Diploma thesis is problem of the Estimation of Company Market Value. Theoretical part contains elementary perspectives and possibilities for Estimation of the Company Market Value. This thesis presents most of using (so less using) techniques for evaluation end rocommendation for its using. Pracitical part includes estimation of real company market value by profit method of discounted cash flow.

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Ludvíková, Denisa. "Ocenění podniku v mezinárodním prostředí." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-264419.

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The aim of this diploma thesis is to determine the market value of the company Svijany, a.s. as of 31. 12. 2014 using the discounted cash flow methods FCFF and FCFE. The purpose of valuation is for company owners. The thesis is divided into two main chapters. A theoretical chapter defines the concepts, reasons for valuation and the main processes and principles of valuation. A practical chapter applies the methods specified in theoretical part. The practical part contains strategic and financial analysis necessary to determine the future value of the company. As a next, the results of previous

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Sedlák, Jiří. "Zero Waste - "Valuation and business planning" pro potenciálního investora." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-206492.

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The target of Zero Waste "Valuation and business planning" for a potential investor is to explore and evaluate the identified market opportunity. Business plan concerns the foundation of food and consumer goods retail business which is aimed towards reducing consumers negative impact on the environment, supporting local jobs and sustainable farming. The thesis is based on theoretical knowledge from the publications listed in the resources which were confronted with the reality in interviews with the owners of comparable businesses. Resulting from the business planning a calculation of present

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Sabilika, Keith. "Valuation of banks in emerging markets: an exploratory study." Thesis, Rhodes University, 2014. http://hdl.handle.net/10962/d1013057.

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Practitioners and academics in emerging markets are yet to agree on how best they can value companies in emerging markets. In contrast, academics and practitioners in developed markets seem to agree on mainstream valuation practices (Bruner, Eades, Harris and Haggins, 1998; Graham and Harvey, 2001). This study was therefore aimed at achieving such consensus with particular attention being paid to the emerging market banks. Emerging market banks are by no means small and are growing fast. Furthermore, these banks are currently involved in lots of cutting age economic activities such as mergers

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Verginis, Constantinos S. "An investigation of the significance of subjectivity in the context of discounted cash flow hotel valuations." Thesis, University of Strathclyde, 2004. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.401312.

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Algotsson, Daniel. "Konstruktion av en databas till stöd för kassaflödesvärdering : Construction of a database to support information management for discounted cash flow valuation of corporations." Thesis, Linköping University, Department of Computer and Information Science, 2005. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-236.

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<p>När en kassaflödesvärdering genomförs prognostiseras företagets värde genom att summera framtida kassaflöden och diskontera dem med företagets kapitalkostnad. På grund av att prognostiserade kassaflöden är uppskattningar inför framtiden karaktäriseras en värdering alltid av hög osäkerhet. Till underlag för prognoserna används en omfattande mängd information. För att ett tillförlitligt värde ska kunna beräknas är det viktigt att relevant och pålitlig information samlas in och hanteras på ett effektivt sätt. I dagsläget är det problematiskt att hantera omfattande mängder information och ett t

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Lopes, Sofia Teixeira. "Equity research - Jerónimo Martins." Master's thesis, Instituto Superior de Economia e Gestão, 2020. http://hdl.handle.net/10400.5/20841.

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Mestrado em Finanças<br>Este projeto consiste em estimar o preço alvo da ação da Jerónimo Martins para o final do ano de 2020, de acordo com as normas do ISEG do trabalho final de mestrado de Finanças. Este relatório de avaliação está de acordo com as diretrizes recomendadas do Instituto CFA. A Jerónimo Martins é uma empresa portuguesa que opera no sector de retalho e distribuição alimentar na Portugal, Polónia e Colômbia, cotada na Euronext Lisbon desde 1989, fazendo parte do índice PSI-20, com um valor de capital social de mais de €629M. Este projeto tem como objetivo analisar as demonstra

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Raimundo, António Ângelo Viegas Fialho. "Avaliação financeira do Grupo Jerónimo Martins." Master's thesis, Universidade de Évora, 2021. http://hdl.handle.net/10174/31067.

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O objetivo deste trabalho de investigação consiste em determinar o valor da empresa Jerónimo Martins e o preço de cotação das suas ações. Os métodos de avaliação utilizados foram os seguintes: método dos cash flows descontados (fluxo de caixa livre para a empresa, para os acionistas, ótica dos dividendos) e o método de avaliação relativa. Em relação ao método de avaliação relativa, recorreu-se ao PER (Price to Earnings Ratio), PBV (Price to Book Value) e PS (Price to Sales). Para além disso, foi realizada uma análise de sensibilidade, com o intuito de determinar o efeito das variações das vari

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Quinta, André Filipe Rodrigues. "Contabilidade e avaliação de empresas : aplicação prática do residual income model." Master's thesis, Instituto Superior de Economia e Gestão, 2018. http://hdl.handle.net/10400.5/17766.

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Mestrado em Contabilidade, Fiscalidade e Finanças Empresariais<br>O presente trabalho tem como principal objetivo demonstrar a utilização do Residual Income Model (RIM). O trabalho é desenvolvido tendo uma abordagem teórica e prática da aplicação do Residual Income Model, sendo constituído pelo enquadramento teórico do modelo e de avaliação de empresas, bem como por um business case de aplicação prática do modelo à Airbus. O segundo objetivo é comparar a utilização do RIM com uma das metodologias mais aceites na avaliação de empresas, o Discounted Free Cash Flow to Equity (DFCFE). O caso é a

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David, Carlos Ricardo de Freitas. "Investment valuation of a project in a winery : the case of Sociedade Agrícola de Vale de Fornos." Master's thesis, Instituto Superior de Economia e Gestão, 2019. http://hdl.handle.net/10400.5/19324.

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Mestrado em Finanças<br>A produção e consumo de vinho no Mundo tem sido bastante regular. Em Portugal, o sector vitivinícola tem uma longa tradição, estando sempre presente na vida dos portugueses, que são os maiores consumidores de vinho per capita do Mundo. Contudo, a tradição não impediu que o nível de interesse e a exigência do consumidor de vinho aumentasse ao longo do tempo. Essa exigência, juntamente com a dinamização das exportações de vinho, com o forte apoio do Estado Português mediante a atribuição de subsídios para requalificação das explorações agrícolas, potenciaram o apareciment

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Pienaar, Petrus Terblanche. "The use of the Discounted Cash Flow (DCF) method as a method of valuation within the South African property industry: A critical review." Master's thesis, University of Cape Town, 2015. http://hdl.handle.net/11427/14125.

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The Discounted Cash Flow method of property valuation is a fairly new method and research in other English speaking countries indicated a trend towards the use of the DCF method in preference to the Capitalization method despite an initial hesitance due to the perceived complexity of the method. The aim of this study was therefore to form an understanding if similar perception of complexity exists in South Africa and how these perception influence the perceptions and preference of use of the DCF method of valuation by valuation professionals within the South African context. The research was g

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Cohen, Luiza Henriques. "Avaliação de empresas : o caso da GALP." Master's thesis, Instituto Superior de Economia e Gestão, 2012. http://hdl.handle.net/10400.5/10508.

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Mestrado em Finanças<br>O valor das empresas é uma questão de extrema importância principalmente na actualidade, quando, cada vez mais, ouvimos casos de processos que implicam empresas e a sua valorização, como: fusões e aquisições de empresas, liquidação de empresas, OPAs entre outos. O processo de avaliação é complexo, por vários motivos: o primeiro tem a ver com a complexidade do mercado; o segundo por termos de prever indicadores futuro, o que, face à conjuntura irregular da actualidade, torna as previsões cada vez menos fiáveis; por último, devido à diversidade de métodos de avaliação dis

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Josefsson, Niklas, and Anders Karlsson. "Stock Price Valuation : A Case study in Dividend Discount models & Free Cash Flow to Equity models." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Företagsekonomi, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-16794.

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Numminen, Emil. "Software Investments under Uncertainty : Modeling Intangible Consequences as a Stochastic Process." Licentiate thesis, Karlskrona : School of Management, Blekinge Institute of Technology, 2008. http://www.bth.se/fou/Forskinfo.nsf/allfirst2/c4fc1a96b53c2937c125746500360fec?OpenDocument.

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Nečasová, Šárka. "Ocenění společnosti s r. o. Exterier Beton." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2013. http://www.nusl.cz/ntk/nusl-223906.

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Goal of this Diploma thesis is determination of the value of Exterier Beton, s.r.o. company on the methods based of discounted cash flow. Theoretical part is focused on primary definitions, definition of value and the reasons why to carry out of valuation. There are also mentioned parts of valuation method and specification process during valuation in diploma thesis. The practical part deals with the characteristics of the company, strategic analysis, evaluation of the financial health of the company, setting up of financial plan and application of selected methods of valuation.

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Silva, Tiago Alexandre Adão. "Vivo´s Valuation." Master's thesis, 2011. http://hdl.handle.net/10071/4335.

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A compra da empresa Vivo, por parte da Telefonica foi um dos eventos económicos e financeiros mais importantes do ano de 2010. Neste negócio, a empresa Espanhola Telefonica comprou 29.71% da operadora telefonica móvel brasileira Vivo à empresa portuguesa Portugal Telecom, por 7.5 biliões de EUR. Assim este trabalho consiste na avaliação da empresa Vivo. Para se proceder à avaliação da Vivo foram utilizados dois métodos, a avaliação através do “Discounted Cash Flow” e através de Múltiplos. A aplicação destes dois métodos implicou a análise da performance histórica da empresa, da performance

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Froidevaux, Pascal S. "Fundamental equity valuation : stock selection based on discounted cash flow /." 2004. http://www.gbv.de/dms/zbw/488889561.pdf.

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