EVALUATION IN A PERIOD OF UNFAVOURABLE ECONOMIC SWAYS

journal article - other

English

This contribution is intent on the problems of the evaluation of the middle-size building enterprise of a regional significance in a period of unfavourable economic sways. It goes out from the fact that a choice of a suitable method represents a very important step in a process of a building enterprise evaluation and therefore it is necessary to pay him a due attention. While in the introductory chapters of the contribution, the basic concepts connected with a property substantial method and a return method DCF Entity are explained, the practical part devotes its attention to the examined middle-size building enterprise of the regional significance and its own property and return evaluations. The aim of the contribution is to demonstrate on the created model of the building enterprise an external negative effect of a critical character and to prove on the basis of own experience that in the period of unfavourable economic sways, when the building enterprise is in debt, only the property substantial method appears as suitable for a calculation because the return method DCF Entity becomes inaccurate. In order to reach this aim, the evaluations of the examined building enterprise are carried out in the year 2010 in which the most outstanding negative effect of a financial crisis on its economic results was noticed.

Property Substantial Method; Return Method DCF Entity; Prognosis β; Country Dangerous Premiums; Secure Interest Rate; Costs on Equity; Costs on Debts; Average Capital Costs; Two-Phase Calculation of Enterprise Value

KŘÍŽOVSKÁ, E.; PUCHÝŘ, B.; BERÁNKOVÁ, M.

29. 9. 2017

Slovenská technická univerzita v Bratislave

Bratislava

1336-944X

Nehnuteľnosti a bývanie

2017/1

Slovak Republic

19

29

10