In the light of the current market downturn, the need of the most accurate valuation appears to be more crucial than ever before this thesis provides the reader with both the theoretical and practical background of the use of valuation premiums and discounts which apply directly to the value of the company reached by. The thesis is based on reviewing the theoretical background of valuation approaches, as well as available data on the use of valuation approaches by companies, financial advisors and other professionals the thesis can increase the knowledge of how valuation approaches work in icelandic economic conditions. Analysis and comparison of company valuation methods in germany - based on the discounted cash flow approach and the german income approach - jaqueline hortlik - bachelor thesis - business economics - business management, corporate governance - publish your bachelor's or master's thesis, dissertation,. Ebs business school ebs universität für wirtschaft und recht thesis to obtain the academic degree bachelor of science internet company valuation a study of valuation methods and their accuracy name: glenn behrmann address: olenreem 31, 22397 hamburg submitted to: professor raša karapandža, phd.
The idea of this study was born in july 2012 i decided to start as an intern at an m&a boutique and wanted to study the valuation of companies for this master thesis thereby, i became enthusiastic about real-options theory by my supervisor ir h kroon since then, it all went really fast i explored two. Netscape didn't and its valuation was based solely on future expectations as a result, the company, that had one tenth of the earnings that microsoft had when it went public in 1986, saw its shares boom from twenty-eight dollars per share to seventy-one dollars  it would require an entire thesis to list the similarities and. Case study: company valuation of pt group 2014 i abstract portugal is currently living in an economic crisis, which led to financial aid and control by the commonly called “troika” (european union, european central bank and international monetary fund) therefore, it is interesting to see how companies and the. The aim of this study is to analyse the scope of the methodology recommended by these two standards in terms of valuation, and to measure, on the basis of a field study, the implications of the imminent introduction thereof for the various actors involved (finance and accounts department within companies, auditors, market.
Accounts of the company for a few years in the past the process of doing an actual valuation is a good way of bringing together the skills you should have been acquiring in a business education it brings together elements from finance, strategy, economics and accounting a valuation thesis is also a very structured. 3 abstract: this thesis has tried to discuss and analyze how an investor should try to value a private company in addition to special characteristics like the value of control, illiquidity discount and lack of diversification, normal valuation issues and techniques have been discussed as well the thesis is divided in three parts.
Investment thesis: we will look to invest in companies that we feel meet the following criteria: sustainable competitive advantage: competitive advantages can unless at a later stage, valuations above $6m should be thoroughly reviewed and have disruptive technology most early stage company valuations should be. Valuation of german “mittelstand” companies d i s s e r t a t i o n of theuniversity of st gallen graduate school of business administration economics, law and social sciences (hsg) to obtain the title of doctor of economics submitted by kerstin dodel from germany approved on the application of prof.
The thesis also presents the theory behind the methods and how to use them in practice the study is conducted with quantitative and empirical methods according to the scholars in the respective research field the most optimal valuation method for biotechnology company valuation is the real option. Why are the clippers worth $2b a look at valuations of sports franchises from a corp valuation perspective on a side how about this: develop an accurate valuation model for start-ups / ipos for use by investors or maybe a contact this company if you are seeking help with your dissertation/thesis project 638 views. University of ljubljana faculty of economics master's thesis valuation of firms in the hospitality industry ljubljana, september 2015 231 hospitality hotel companies revenue drivers hospitality companies (july 1999) that manage the most hotels and are leaders in. Management and business administration phd programme theses of phd dissertation kíra martin a study of factors influencing the deviation between companies' market value and book value in hungary research supervisor: dr rezső baricz professor budapest, 2011.
This research aims to determine what drives market valuations for internet companies and to discover whether value drivers vary across the different types of business models given the ubiquity of the internet and the huge growth in online businesses one would assume a large body of research on internet. Master's thesis date 31122015 number of pages 56 abstract the aim of this master's thesis was to research whether the real options analysis method works as a tool for start-up company investment valuation in order to answer the main research question the business plan of the case company. Executive summary ic companys a/s is a danish fashion corporation, which produces 11 designer labels, which are exported to more than 40 countries all over the world the company was founded in april 2001 through a merger of the clothing company inwear group a/s and the fashion company carli.
Professional valuators' choice of valuation methods when valuing companies in joint ventures or mergers & acquisition decision making processes it also 1 damodaran, aswath – damodaran on valuation security analysis for investment and corporate finance (1994) 2 avaliação de empresas –um guia para fusões e. Our chair offers two types of topics - case studies and empirical theses working on a case study involves analyzing the value of a specific corporate decision, such as an ipo, m&a, or the issuance of (convertible) securities using different company valuation models (wacc, apv, etc) and performing event. 132 asset-based valuation 15 133 comparable company valuation 16 13 4 real options business valuation 16 14 goals of the research effort 17 15 thesis contributions 19 151 new problem definition and approach for solving problem 19 152 extends current methods to utilize performance metrics to.
Method needs to be considered the thesis considers several techniques for that purpose, such as monte carlo simulation, risk-adjusted npv, and decision tree analysis however, the tool selected to value a biotechnology company is real option approach even though, the real options valuation as a. The core asset of orocobre is the olaroz brine lithium project, which boasts some of the lowest costs in the world and gives the company an enormous competitive. Universidad de san andrés, master of finance, valuation thesis, bp plc 5 3 approach and methodology: 31 dcf analysis through valuation tests, chua and woodward3 demonstrated in 1994 the explicative statistical importance of future cash flows in the stock price of the oil and gas companies between 1980 and.