The Effects of a Change in the Environment on Business Valuation Using the Income Capitalization Approach

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dc.contributor.authorRežňáková, Máriacs
dc.contributor.authorKaras, Michalcs
dc.coverage.issue2cs
dc.coverage.volume7cs
dc.date.issued2012-12-16cs
dc.description.abstractDetermining the company value in the conditions of unstable development is a very difficult, almost sophisticated activity. Experience of authors confirms high sensitivity of the resulting company value in relation to critical input parameters, which are known as value drivers. One of these drivers, in case of determining the company value using the income capitalization approach, is the expected sales. In practice some authors, but mainly experts, limit sales forecast to extrapolation of the identified trend of the past development, while neglecting the importance of the strategic analysis. The aim of the strategic analysis is to identify all factors that may influence future company objectives, i.e. also future sales. This article provides a possible approach to the correction of sales forecast based on the information gained from the strategic analysis.en
dc.description.abstractDetermining the company value in the conditions of unstable development is a very difficult, almost sophisticated activity. Experience of authors confirms high sensitivity of the resulting company value in relation to critical input parameters, which are known as value drivers. One of these drivers, in case of determining the company value using the income capitalization approach, is the expected sales. In practice some authors, but mainly experts, limit sales forecast to extrapolation of the identified trend of the past development, while neglecting the importance of the strategic analysis. The aim of the strategic analysis is to identify all factors that may influence future company objectives, i.e. also future sales. This article provides a possible approach to the correction of sales forecast based on the information gained from the strategic analysis.en
dc.formattextcs
dc.format.extent119-137cs
dc.format.mimetypeapplication/pdfcs
dc.identifier.citationEquilibrium-Quarterly Journal of Economics and Economic Policy. 2012, vol. 7, issue 2, p. 119-137.en
dc.identifier.doi10.12775/EQUIL.2012.014cs
dc.identifier.issn1689-765Xcs
dc.identifier.orcid0000-0002-7261-607Xcs
dc.identifier.orcid0000-0001-8824-1594cs
dc.identifier.other95917cs
dc.identifier.researcheridAAQ-6282-2020cs
dc.identifier.researcheridC-1261-2018cs
dc.identifier.scopus36125352900cs
dc.identifier.scopus55321000300cs
dc.identifier.urihttp://hdl.handle.net/11012/69361
dc.language.isoencs
dc.publisherNicolaus Copernicus University in Toruńcs
dc.relation.ispartofEquilibrium-Quarterly Journal of Economics and Economic Policycs
dc.relation.urihttp://apcz.umk.pl/czasopisma/index.php/EQUIL/article/view/EQUIL.2012.014cs
dc.rightsCreative Commons Attribution-NoDerivatives 3.0 Unportedcs
dc.rights.accessopenAccesscs
dc.rights.sherpahttp://www.sherpa.ac.uk/romeo/issn/1689-765X/cs
dc.rights.urihttp://creativecommons.org/licenses/by-nd/3.0/cs
dc.subjectstrategic analysisen
dc.subjectbusiness valuationen
dc.subjectsales forecast processen
dc.subjectstrategic analysis
dc.subjectbusiness valuation
dc.subjectsales forecast process
dc.titleThe Effects of a Change in the Environment on Business Valuation Using the Income Capitalization Approachen
dc.title.alternativeThe Effects of a Change in the Environment on Business Valuation Using the Income Capitalization Approachen
dc.type.driverarticleen
dc.type.statusPeer-revieweden
dc.type.versionpublishedVersionen
sync.item.dbidVAV-95917en
sync.item.dbtypeVAVen
sync.item.insts2025.10.14 14:13:57en
sync.item.modts2025.10.14 10:21:58en
thesis.grantorVysoké učení technické v Brně. Fakulta podnikatelská. Ústav financícs
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