Zobrazit minimální záznam

dc.contributor.authorDrábek, Michal
dc.date.accessioned2024-03-06T01:03:22Z
dc.date.available2024-03-06T01:03:22Z
dc.date.issued2022
dc.identifier.issn1932-9156 Sherpa/RoMEO, JCR
dc.identifier.urihttps://repozitar.mendelu.cz/xmlui/handle/20.500.12698/1852
dc.description.abstractThis article focuses on the topic of the relative valuation from the perspective of non-publicly traded companies and the determination of industry multiples allowing the subsequent application of this approach to specific industries. I chose the Czech brewing industry as the target industry, represented by the 50 most important entities (covering more than 99% of the industry's turnover). Due to the fact that no market value data are available for this type of company, I first used an income valuation approach - the discounted cash flow (DCF) method to assess the market value of each company in the sample. I then quantified valuation multiples of P/E, EV/EBIT, EV/EBITDA, P/S, EV/S, P/BV, and EV/IC for each company, from which I determined industry statistics. I verified their suitability for use in the relative valuation approach and compared them with the results of existing studies on the most commonly used valuation approaches in the Czech Republic. Furthermore, I compared my own calculations of industry multiples for non-publicly traded companies with available data on industry multiples of publicly-traded companies in the brewing industry across Europe. The results of the comparison show that these multiples are on average lower for non-publicly traded companies than for listed companies.en
dc.format65-100
dc.publisherWalter de Gruyter GmbH
dc.relation.ispartofJournal of Business Valuation and Economic Loss Analysis
dc.relation.urihttps://doi.org/10.1515/jbvela-2021-0023
dc.rightsCC BY 4.0
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subjectbusiness valuationen
dc.subjectrelative valuationen
dc.subjectDCFen
dc.subjectindustry multiplesen
dc.subjectbrewingen
dc.titleRelative Valuation of Private Held Companies: Valuation Multiples in the Czech Brewing Industryen
dc.typeJ_ČLÁNEK
dc.date.updated2024-03-06T01:03:22Z
dc.description.versionOA-hybrid
local.identifier.doi10.1515/jbvela-2021-0023
local.identifier.scopus2-s2.0-85137942164
local.number1
local.volume17
local.identifier.obd43923465
local.identifier.e-issn1932-9156
dc.project.IDPEF_DP_2021016
dc.project.IDHodnota podniků v odvětví pivovarnictví v České republice
local.contributor.affiliationPEF


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Zobrazit minimální záznam

CC BY 4.0
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