Publication detail

Corporate life cycle and market position and their influence on rates of owners risk rewards

KONEČNÝ, Z.

Original Title

Corporate life cycle and market position and their influence on rates of owners risk rewards

Type

conference paper

Language

English

Original Abstract

This article is focused on the structure of cost of equity required in companies in different phases of their life cycle and in different market positions, that are, according to the used model by Reiners (2004), derived from the combination of the phases of corporate- and market life cycle. Risk rewards, which are components of cost of equity, were calculated by using the constructional model by the Czech Ministry of Industry and Trade and there were by each risk reward found out, whether there is required its minimal value, the value within the interval, or the maximal value. Consequently, the selected companies were ordered according to the number of reached minimal and maximal values. There were selected 39 companies from the czech automotive industry and there were analyzed secondary data, gotten from financial reports and statistical materials, for periods from 2002 to 2010. The research showed, that the most successful are companies in the phase of stabilisation and in the position of market pioneer, or market driver.

Keywords

corporate life cycle, market life cycle, market position, cost of equity, risk rewards

Authors

KONEČNÝ, Z.

RIV year

2012

Released

29. 11. 2012

Location

Brno

ISBN

978-80-7375-669-7

Book

PEFnet 2012

Pages from

223

Pages to

230

Pages count

8

BibTex

@inproceedings{BUT95644,
  author="Zdeněk {Konečný}",
  title="Corporate life cycle and market position and their influence on rates of owners risk rewards",
  booktitle="PEFnet 2012",
  year="2012",
  pages="223--230",
  address="Brno",
  isbn="978-80-7375-669-7"
}