Ocenění společnosti automobilového průmyslu na bázi reálných opcí

Abstract

The thesis deals with equity valuation of Hyundai Dymos Czech, s.r.o. company by means of real options. The thesis is divided into 3 main parts. The first part is focused on description of options and its parameters, methodology of real option and option pricing models. The second part is focused on the characteristics of the Hyundai Dymos Czech, s.r.o. and analysis of financial situation of the company. The final part is focused on equity valuation based on real option. Binomical model is used there. Valuation of equity is determined through the application of passive strategy and active strategy. The flexibility of the company is valuated as a price of option on expand.