Oceňování, 2022 (vol. 15), issue 2

Articles

Branch Standards and Target Capital Structure in the Process of Investment Decision and Valuation of Enterprises

Milan Hrdý

Oceňování 2022, 15(2):3-16 | DOI: 10.18267/j.ocenovani.275  

The aim of this paper was to verify the accuracy of the determination of average indebtedness and branch standards in the previously mentioned branches and the analysis of the development of average indebtedness in these selected branches. The basic method used to fulfill this goal of the paper will be mainly the method of data analysis from the database of the University of Economics in Prague, Albertina, and the theoretical basis and practical conclusions from previous research. It was possible to propose a simple hypothesis that average indebtedness, and thus branch standards, will be confirmed only in certain branches. The stated hypothesis was...

Empirical research: planning and estimation of continuing value in business valuation

Lucie Jahodová

Oceňování 2022, 15(2):17-32 | DOI: 10.18267/j.ocenovani.276  

In this empirical study planning and estimation of continuing value in business valuation were analyzed. I have organized an empirical research based on questionnaires. Experts from universities, from valuation institutes and independent experts were interviewed. Research was realized in 2022, as well as in 2008. In 2008 145 respondents were interviewed, 65 of them have answered, in 2022 229 were interviewed and 96 have answered. There were 5 questions dealing with business valuation method, the length of the first stage, data, based on which experts plan the first stage, method of estimation of continuing value and estimation of long-term rate of...

Empirical analysis of selected prediction methods as a basis for estimating the long-term growth rate in the income valuation of the company

Pavla Maříková, Michael Miláček

Oceňování 2022, 15(2):33-54 | DOI: 10.18267/j.ocenovani.277  

The article presents the results of an empirical analysis of the past time series of production growth in the main branches of the Czech economy. The period from 1993 to 2019 is analyzed. A regression analysis of the linear dependence of industry growth on GDP growth, an analysis of long-term growth averages and an analysis of the development of the ratio of sector growth to GDP growth are performed on the data. The aim is to point out the possibilities of using the given methods as a partial basis for valuers when they estimate the long-term growth rate of the valued business. The results show that only some sectors have a connection with GDP development....

Analysis of Prague's commercial real estate market

Jakub Mašek, Radana Šmídová

Oceňování 2022, 15(2):55-76 | DOI: 10.18267/j.ocenovani.278  

The article aims to analyze development of Prague's commercial real estate market. The first part of the article focuses on complex breakdown of different factors responsible for current price development including permission processes analysis, tax system analysis and analysis of situation on construction and mortgage markets. Another part of article then aims to propose set of various steps on state and municipal level that would help to create an environment suitable for prompt and effective construction with end goal of solving current housing crises.