03214ntm a22004937i 4500 000614629 CZ-PrVSE 20190915095738.0 m d cr n|||||||||| 190915s2019 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Jurík, Boris ISIS:133212 dis Valuation of distressed company eng Valuation of distressed company / Boris Jurík 2019 ?? stran : digital, PDF soubor Vedoucí práce: František Poborský Diplomová práce (Ing.)—Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví, 2019 Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby 2019 The aim of the thesis is valuation of distressed company using valuation model that explicitly considers specific conditions accompanying distressed firms and their likelihood of default. The model is based on the idea that total firm value of distressed company is equal to average of company’s value as a going-concern, i.e. value under ordinary conditions and company’s value from liquidation sale value, weighted by its default probability. The need to modify traditional models for distress valuation is because traditional valuation methods are by default built on fundamental assumptions which may not hold true in every stage of firm’s life cycle. This could be for instance higher risk of default (start-ups, declining companies) or uncertainty of future cash flows (distressed companies). Therefore, in the thesis the model is carefully introduced and its individual components are described. Integral parts of the model include going-concern value, probability of default and distress sale value. In the practical part, distress adjusted model is applied on existing case of American retailer JCPenney in order to demonstrate its theoretical application. In the thesis we observe better suitability of this model for companies in distress and provide comments on its application. Using distress adjusted model we also identified that JCPenney’s stock is undervalued. Způsob přístupu: Internet finance and accounting [obor dipl. práce] diplomové práce fd132022 czenas master's theses eczenas Valuation Distress Decline Poborský, František ISIS:15208 ths Pečonka, David opn Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví kn20010709398 dgg https://insis.vse.cz/zp/67896/podrobnosti VŠKP v InSIS https://insis.vse.cz/zp/67896 Hlavní práce https://insis.vse.cz/zp/67896/posudek/vedouci Hodnocení vedoucího https://insis.vse.cz/zp/67896/posudek/oponent/64108 Oponentura https://insis.vse.cz/zp/67896/podrobnosti dc:identifier NEPOSILAT VSKP vse67896 190912 67896