Aplikace metodologie reálných opcí dle flexibilního business modelu

Abstract

The determination of the value of the shareholder’s capital of the Czech manufacturing company Destila, Ltd. on the day of January 1, 2013 has been the aim of the thesis. The determination has been done with the assistance of a flexible business model. The value of the shareholder’s capital is viewed, through the real options methodology, as an American call option owned by shareholders and concerning assets of the company in question. To make the analysis of the impact of interventions made by the management of the company with assistance of selected types of options has been another aim of the thesis divided into three main chapters. The theoretical part of the thesis that deals with the description of the real options methodology is covered by Chapter 1. The theoretical define of real options and their classification is included there. Furthermore, individual types of models concerning the appraisement of real options are described in this chapter. The technique used for the determination of the value of the shareholder’s capital of the company is depicted there as well. The flexible business model is described in the final part of Chapter 1. The company under analysis is presented in Chapter 2 of the thesis. This chapter also contains the financial analysis of the main indicators. The practical part that picks up the threads of theoretical information of the foregoing chapters is covered by Chapter 3 of the thesis. The value of the shareholder’s capital of the above-mentioned company viewed as an American call option has been quantified. The analysis of the impact of interventions made by the management of the company has been carried out. The final part of the chapter sums up the outcomes reached.