Aplikace learning reálných opcí ve finančním rozhodování

Abstract

This thesis is focused on investment decision-making and its part such as evaluation of projects or company value, which is an integral part of management‘s planning and decision-making within the company. The object of this thesis is to assess the company value by applying learning real options methodology instead of application of traditional methods based on discounted cash flows. The basic real options are modified by element of learning options. The thesis is divided into 3 chapters excluding an introduction and a conclusion. First chapter is focused on description of real options and learning real options including the methods for valuation of particular options and detailed process for company value assessment. Second chapter contains of basic description and financial analysis of the company which the equity will be evaluated. In the last chapter there are used methods described in the first chapter to determine the value of the company. Furthermore, there is described the value added by application of real options methodology for investment decision-making in general and then including learning options component.