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2021 | OriginalPaper | Buchkapitel

Enterprise Value Assessment as an Evaluation Criterion of a Merger

verfasst von : H. Květová, J. Vrbka, P. Šuleř

Erschienen in: Economic Systems in the New Era: Stable Systems in an Unstable World

Verlag: Springer International Publishing

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Abstract

The aim of this paper is to express the enterprise value for the purpose of a future comparison of the investment revenue in form of a business merger. To fulfil this aim, the model of discounted cash flow (DCF) is employed that is, according to reference literature, considered to be the key method of enterprise valuation, namely in the form of free cash flow to firm (FCFF). The predicted values of free cash flow to creditors and shareholders are discounted using the weighted average cost of capital to their current value for the respective years in the time period from 2018 to 2032 and for the period of perpetuity. Apart from the final enterprise value, it was pointed to not only the limits of the future cash flow prediction but also to vast opportunities for using the predicted values for financial planning of the company in the future.

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Vorheriges Kapitel Potential of the Small Enterprise Value Assessment Using the Discounted FCFF Method

Nächstes Kapitel Risk Premium and Comparison with Damodaran Methodology

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Titel: Enterprise Value Assessment as an Evaluation Criterion of a Merger
verfasst von: H. Květová
J. Vrbka
P. Šuleř
Verlag: Springer International Publishing
Buch: Economic Systems in the New Era: Stable Systems in an Unstable World
Print ISBN: 978-3-030-60928-3

Electronic ISBN: 978-3-030-60929-0

Copyright-Jahr: 2021
DOI: https://doi.org/10.1007/978-3-030-60929-0_110

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