The aim of this thesis is to determine the value of the company Technicky skusobny ustav based in Piešťany. The first part of the work deals with the theoretical basis for the evaluation of the company, there are described the reasons why to evaluate companies, and further process to apply for the valuation. The following is a description of selected parts of the strategic and financial analysis, financial plan and evaluation methods. Furthermore, there will be presented the chosen company and subsequently evaluated according to methods in the theoretical part. For determining the value of the company there were used discounted free cash flow method and economic value added method. In the conclusion specific evaluation methods are applied and statement stated about the value of the company dated to 31.12.2015.

Master´s thesis deals with the determination of the value of the company Českomoravský cement, a.s. The theoretical part defines concepts and definitions that are subsequently used in the analytical part of the thesis. There is also strategic analysis, financial analysis, financial plan, discount rate estimation and subsequent value of the company as an analytical part.

This thesis contains business valuation of company CHEMOSVIT ENVIRONCHEM, a.s. based on income approach. The first part discusses theoretical concepts and methods of valuation. The second part includes strategic, financial and SWOT analysis, financial plan and income based discounted cash flow valuation. In conclusion, the valuation statement as at 31.4.2011 is reported.

This master´s thesis is focused on evaluation of company´s economic performance. Evaluation is done by standard methods of financial analysis and modern method Economic Value Added. Theoretical part describes methods and procedures that can be used for evaluation of economic performance. Practical part deals with evaluation of economic performance of the company KOH-I-NOOR PONAS Ltd.

The aim of this thesis is to perform an analysis of MODUS ltd. which will be based on evaluation of its economic performance and finding out the causes of the current situation. In the first part, there is basic theoretical determination of the analysis and all of its appurtenances. The second part emphasizes on an extensive characteristics of the chosen company, so that it is possible to perceive the calculated determinants from the right perspective. The third part includes the performance of the analysis of a given company and a well-arranged recording and subsequent evaluation of the results obtained. The thesis is concluded with the evaluation of the economic situation of the company based on the results of the analysis and with the recommendation of particular measures which would increase the economic efficiency and effectiveness in the future. Furthermore, there is a summary of models and determinants used with an indication of their advantages and disadvantages.

The aim of this dissertation is to design finance management model and then to test it in real company operated in field of facility management (property and asset management in the field of real estate’s). Designed model works with instruments of financial analysis and investment management. Key hypothesis of the model tells that return on equity should by higher or equal in comparison to weighted average cost of capital. This hypothesis is used not only for effective financial management of the company but also for its smaller units (business centres). Part of the dissertation is definition how to implement and use the model (31 steps for the implementation). Designed model (and hypothesis as well) is verified on the case study.

本研究的目的在於探討企業的財務結構決策是否攸關市場價值。根據加權平均資金成本與企業評價模式相關文獻基礎，產生下列三個假設：(1)資本結構與平均資金成本存有關聯性；(2)最適資本結構必須存在，以使平均資金成本達到最低；(3)平均資金成本與企業價值也存有關聯性。故本研究之實證議題探討：(1)平均資金成本與資本結構的關聯性以及最佳資本結構是否存在(2)加權平均資金成本、權益資金成本與企業價值的關聯性(3)資本結構與平均資金成本之關聯性對企業價值的影響。 本研究使用民國80年至88年台灣證交所股票上市公司作為樣本資料，主要的實證結果如下。財務結構與平均資金成本具有顯著的負向關係，故實證結果並不支持M-M 的槓桿無關論。在十八個產業中，大約半數的產業存在最適資本結構。此外，相對於平均資金成本而言，權益資金成本與股價報酬呈現顯著的負向關係，且具有較高的解釋力；這個結果強調了權益資金成本在解釋股價報酬上的重要性。 本研究亦發現，企業經理人無法透過財務結構的調整來極大化企業的價值，經理人應該考量其他方式來極大化公司的價值。 / The purpose of this thesis is to investigate whether financial structure decisions of a firm are relevant to its market value. Three assumptions underlie the literature on weighted average cost of capital and firm valuation models. First, the linkage exists between the capital structure and the average cost of capital. Second, in order to minimize the average cost of capital, the presence of optimal capital structure is required. And third, the relationship exists between the average cost of capital and firm values. The empirical issues explored in this thesis therefore include: (1) The relationship between the average cost of capital and the capital structure and the presence of optimal capital structure; (2) The association between weighted average cost of capital, cost of equity capital and firm values; and (3) The influence of capital structure-average cost of capital relationship on firm values. Using the listed companies on Taiwan Stock Exchange over the period of 1991 to 1999 as the sample, major empirical findings are as follows. The empirical evidence indicates that financial structure is significantly negatively associated with the average cost of capital, which in turn may imply the M-M leverage irrelevance proposition is not supported by the sample firms examined. About half of the 18 industries examined in this study suggest the presence of optimal capital structure. Furthermore, compared to the average cost of capital, the cost of equity capital is found to be significantly and negatively associated with stock returns and has better explanatory power. This emphasizes the importance of the cost of equity capital in interpreting the behavior of stock returns. In addition, this thesis also finds that managers’ influence of maximizing firms’values through adjusting their firms’financial structures is limited. Managers may have to find avenues other than financial structure decisions to maximize the values of their firms.

The theme of the thesis is to compare the accounting and economic value added. The theoretical part describes the value added and its determinants. It is defined as economic value added. The first is the basic formula for calculating the economic value added, and the identification of variables that are needed to calculate. The most important variable is the weighted average cost of capital. The next section is defined by other methods which can calculate EVA. The practical section provides the necessary methods and procedures for calculating the financial and economic value added. Methods chosen for the calculation were: the CAPM method, Modular method and Benchmarking diagnostic system of financial indicators INFA.

This master thesis deals with the proposal of a chosen company by using the income-based methods called Discounted Cash Flow and Economic Value Added. The theoretical part provides the description of the methodology of business valuation process. The practical part presents financial, strategic and SWOT analysis of the company. Furthermore particular valuation methods are applied. In conclusion statement of value is reported.

The aim of this diploma thesis is to characterize the process of investment calculations at Bosch Diesel company and to compare Bosch Diesel s effectiveness of investment evaluation methodology with the methodology recommended in teaching literature. The thesis is divided into two parts. The theoretical part defines various methods for evaluation of investments. It also deals with estimation of cash flow of an investment, calculation of a discount rate and risk analysis. The practical part illustrates the process of investment calculations at Bosch Diesel company by the means of the real investment in production of CP4 pumps. According to the found deviations the investment calculation of this project is recalculated. In the conclusion there are proposals for how the investment process of the company could be improved.