Aplikace reálných opcí při ocenění výrobního podniku

Abstract

Businesses are constantly faced with the need for replacement product portfolio. Related to this need to control new investment projects, which always enter into an environment of uncertainty. In this context, there is failure of traditional methods of project evaluation, as they do not include the flexibility to decide the value of real assets and projects. Application of real options provides a flexible approach in financial decision making and management of real assets of the business significantly and enter into strategic decision making. Real options extend classical methods yield for companies operating in a highly flexible environment and volatile markets. The aim of the thesis is to determine the value of the equity firm Rudolf Jelínek as and determination of operational flexibility through the application of real options. Valuation equity is accomplished through discrete binomial model and for the valuation of operational flexibility options are used in European and American type.