Ph.D. thesis deals with testing precise use market approach to the valuation of software companies. Contains justification for the need of dealing with less traditional valuation methods, theoretical approaches for the use of market multipliers and existing knowledge to regression analysis is used to explain the multipliers. The analytical part is assembled its own regression equation to determine the multiplier in the years 2004-2010, the usability was tested in comparison with the use of a multiplier based on the median level of comparable sample of firms. There was also objective to determine the preferred type multiplier for software companies, which can be used e.g. when using scoring methods to adjust the multiplier. Complementing the thesis was to compare the quality of its own regression equations and equations published by Professor Damodaran. In most years through its own regression equations managed to establish a more precise multiplier than was achieved by using the mean value of a comparable sample of firms. We were also able, in most years to find suitable regression equation than the equation published by Professor Damodaran. Type multiplier P/E appeared to be significantly better to explain the regression equation in comparison with the other types of multiplier.
| Identifer | oai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:165912 |
| Date | January 2008 |
| Creators | Tůma, Pavel |
| Contributors | Mařík, Miloš, Kodera, Jan, Hnilica, Jiří |
| Publisher | Vysoká škola ekonomická v Praze |
| Source Sets | Czech ETDs |
| Language | Czech |
| Detected Language | English |
| Type | info:eu-repo/semantics/doctoralThesis |
| Rights | info:eu-repo/semantics/restrictedAccess |
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