Ocenění společnosti v tabákovém odvětví na bázi reálných opcí

Abstract

The aim of the thesis is valuation of the company in the tobacco industry on the basis of real options. The thesis is divided into five chapters, the first and last chapters are introduction and conclusion. The second chapter contains a theoretical description of real options. There are described financial and real options, real option pricing models, equity valuation process and sensitivity analysis. In the third chapter captures information about the company. The fourth chapter is a practical part of the thesis, which lists the individual steps of the calculation of equity and sensitivity analysis. At the end of the chapter the results are assessed.