Abstract
The issue of enterprise value assessment ranks among fairly new economic disciplines. The aim of the article is to evaluate the potential for a small enterprise value assessment using the method of discounted FCFF on the basis of a case study. In the theoretical part, the paper is concerned with the justification and description of the process continuity of the chosen calculation procedures and, moreover, it specifies the way of identifying the quantities primarily influencing the discount rate. The practical application of the research method is demonstrated on a case study concentrating on a particular but randomly chosen enterprise. In order to maintain a complete objectivity, the financial data was gained exclusively from sources open the general public, or alternatively from audited sources. The potential of the method for the value assessment of a small enterprise was eventually proven and the aim of the paper was therefore fulfilled. On top of that, the study managed to thoroughly map and characterize the impact of factors influencing the accuracy of the method worthy of taking into account by the assessor in pursuance of the decision-making process.
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Gráf, P., Rowland, Z. (2021). Potential of the Small Enterprise Value Assessment Using the Discounted FCFF Method. In: Ashmarina, S.I., Horák, J., Vrbka, J., Šuleř, P. (eds) Economic Systems in the New Era: Stable Systems in an Unstable World. IES 2020. Lecture Notes in Networks and Systems, vol 160. Springer, Cham. https://doi.org/10.1007/978-3-030-60929-0_109
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