Oceňování, 2019 (vol. 12), issue 4
Articles
Comparison of European Firms Indebtedness
Eva Dufková, Nikola Foffová, Milan Hrdý, Petr Marek
Oceňování 2019, 12(4):3-11 | DOI: 10.18267/j.ocenovani.236 
Paper deals with the comparison of the total indebtedness of companies in the 15 member states of the European Union and in 10 sectors. The median values of indicators of debt to assets ratio, long-term credit indebtedness and short-term credit indebtedness are selected for measurement. The results of the analysis show a wide range of values achieved by country and by sectors. Some conclusions can only be made about certain preferences of long-term or short-term credit indebtedness within some countries or some sectors.
Analysis of operating assets for the discounted cash flow model valuation - Part II.: Complex business valuation of the company
Jaroslav Šantrůček, Michal Dohányos
Oceňování 2019, 12(4):12-30 | DOI: 10.18267/j.ocenovani.237
The article discusses briefly the importance and need for the solution, respectively, it discusses the importance of the introduction of the calculated depreciation to the valuation of the discounted cash flow model. The article derives and explains the importance of the spread function as the difference between ROIC resp. ROA and WACC for estimating parameters that affect the business value. It describes the procedure for quantification of the total capital involved in the operation of the enterprise. It proposes a solution using a set of two equations of two unknown for the simultaneous calculation of the business value and goodwill value within...
Discussion
Information after valuation date and when it can be used
Lukáš Křístek
Oceňování 2019, 12(4):31-37 | DOI: 10.18267/j.ocenovani.238
This article deals with the issue of using information after the valuation date in an expert valuation and responds to the article "Working with valuation date and available information" published in Valuation Journal No. 2/2018. As a general rule, an expert may not use specific findings of fact known after the valuation date. The issue of the use of information after the valuation date is largely a legal issue, which is closer to lawyers than valuation experts, so the legal issues are explained here first. This article identifies several types of cases where "information" known after the valuation date can be used, sometimes more than 10 years after...
Notes on the article "Křístek, L.: Information after valuation date and when it can be used"
Miloš Mařík
Oceňování 2019, 12(4):38-39 | DOI: 10.18267/j.ocenovani.239
Opinion on the proposals of Vladimír Kulil marked as "Income methods for business valuation - modern approaches"
Miloš Mařík, Jaroslav Šantrůček, Jiří Hlaváč
Oceňování 2019, 12(4):40-46 | DOI: 10.18267/j.ocenovani.240
Practical application of the NOPAT perpetual annuity method for business valuation
Vlastimil Trávník
Oceňování 2019, 12(4):47-52 | DOI: 10.18267/j.ocenovani.241
Opinion on the case study of Ing. Trávník "Practical application of the NOPAT perpetual annuity method for business valuation"
Miloš Mařík
Oceňování 2019, 12(4):53-54 | DOI: 10.18267/j.ocenovani.242