Oceňování, 2024 (vol. 17), issue 2
Articles
Angel investor decision-making about investing in a startup: The key role of founder characteristics
Vít Paclík, Pavel Svačina
Oceňování 2024, 17(2):3-26 | DOI: 10.18267/j.ocenovani.294 
Does an early-stage startup have future potential or not? This is a question that many investors or start-up appraisers ask themselves. A qualified answer to this question can be obtained by learning how and why experienced business angel investors, who are those who invest substantial sums in early-stage start-ups, make empirical decisions. In this article, we identify the key signals that are decisive for Mr. Jiří Hlavenka, a experienced Czech angel investor in IT sector with a history of more than 50 invested start-ups and several thousand analyzed investment opportunities. The results show that the angel investor’s decision is primarily a “bet...
Deformation of Acquisition Price
Barbora Rýdlová, Tomáš Krabec
Oceňování 2024, 17(2):27-35 | DOI: 10.18267/j.ocenovani.295
This article focuses on the analysis of acquisition price distortions in the context of mandatory takeover bids, with particular attention to the decision of the Supreme Court of the Czech Republic (resolution 29 Cdo 293/2017) and the legal framework of the former Commercial Code. The aim is to assess the fairness of the mandatory offer price in relation to market conditions and the market value of the relevant securities. Alternative valuations using valuation models are considered as a supportive tool, relevant only when there are reasons to believe that the market exhibits signs of distortion. The article identifies key factors that may influence...
Verification of selected prediction models
Radana Šmídová, Jan Zadák
Oceňování 2024, 17(2):36-61 | DOI: 10.18267/j.ocenovani.296
This article aims to assess or verify the predictive ability of the selected prediction models and evaluate their strengths and weaknesses. The empirical study tests the predictive ability of these models on sporting goods chains or related businesses in the Czech Republic in the period of 2017 - 2022.