Detail publikačního výsledku

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

REŽŇÁKOVÁ, M.; KARAS, M.

Originální název

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

Anglický název

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

Druh

Článek recenzovaný mimo WoS a Scopus

Originální abstrakt

Determining the company value in the conditions of unstable development is a very difficult, almost sophisticated activity. 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 that 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.

Anglický abstrakt

Determining the company value in the conditions of unstable development is a very difficult, almost sophisticated activity. 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 that 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.

Klíčová slova

strategic analysis, business valuation, sales forecast process

Klíčová slova v angličtině

strategic analysis, business valuation, sales forecast process

Autoři

REŽŇÁKOVÁ, M.; KARAS, M.

Rok RIV

2013

Vydáno

16.12.2012

Nakladatel

Nicolaus Copernicus University in Toruń

ISSN

1689-765X

Periodikum

Equilibrium

Svazek

7

Číslo

2

Stát

Polská republika

Strany od

119

Strany do

137

Strany počet

19

URL

http://apcz.umk.pl/czasopisma/index.php/EQUIL/article/view/EQUIL.2012.014

Plný text v Digitální knihovně

http://hdl.handle.net/11012/69361

BibTex

@article{BUT95917,
  author="Mária {Režňáková} and Michal {Karas}",
  title="The Effects of a Change in the Environment on Business Valuation Using the Income Capitalization Approach",
  journal="Equilibrium",
  year="2012",
  volume="7",
  number="2",
  pages="119--137",
  doi="10.12775/EQUIL.2012.014",
  issn="1689-765X",
  url="http://apcz.umk.pl/czasopisma/index.php/EQUIL/article/view/EQUIL.2012.014"
}