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Abstract: In this paper we present the case of Slovenian public limited companies based on the discounted free cash flows to equity and comparing it with market value of equity capital of companies before and during the financial-economic crisis. The purpose of this paper is to discuss the equity value of companies, as well as present the importance of fair and honest company valuations. The fundamental value of equity capital of a company is important for both management and external shareholders. The wide disparity between market and fundamental values can lead to high value adjustments, which reduces investors confidence in the capital market. This has had a negative impact on the operations of financial institutions, and individual as well as company investment; especially on developing financial markets during a financial-economic crisis. This paper shows the problem of company valuation on small and emerging capital markets which have a short history of data.
Keywords: vrednotenje podjetij, tržna vrednost, osnovna vrednost, javne delniške družbe
Published in RUP: 15.10.2013; Views: 3215; Downloads: 66
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Keywords: aktivni management, pasivni management, delniški skladi, tržni indeksi, kapital, finančni trgi, razvoj
Published in RUP: 15.10.2013; Views: 3370; Downloads: 103
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Abstract: Članek obravnava oceno stroška lastniškega kapitala podjetja, ki je pomemben, saj določa zahtevano donosnost, ki jo vlagatelji zahtevajo na vloena sredstva.Strošek lastniškega kapitala podjetja uporabimo kot diskontni faktor pri izračunavanju današnje vrednosti pričakovanih denarnih tokov lastnikov. V članku so prikazane metodološke rešitve ocene stroška lastniškega kapitala po CAPM na slovenskem trgu kapitala, ki spada med trge v razvoju.Za te je značilna kratka časovna vrsta razpololjivih podatkov. Ocenjen je strošek lastniškega kapitala za izbrane slovenske delniške drube.
Keywords: lastniški kapital, stroški, donosnost, tveganje, CAPM
Published in RUP: 15.10.2013; Views: 5131; Downloads: 129
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Keywords: vrednotenje podjetij, vrednost, dobiček, rast, investicije, kapital, stroški lastniškega kapitala
Published in RUP: 15.10.2013; Views: 3764; Downloads: 106
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