Valuation of non-listed company with the method of discounted cash flows to firm: the example of CALORIA SA

Postgraduate Thesis uoadl:2883093 207 Read counter

Unit:
Κατεύθυνση Λογιστική
Library of the Faculty of Economics and of the Faculty of Business Administration
Deposit date:
2019-10-21
Year:
2019
Author:
Sfakianakis Andreas
Supervisors info:
Λοΐζος Κωνσταντίνος, Ερευνητής Γ Βαθμίδας στο Κέντρο Προγραμματισμού και Οικονομικών Ερευνών (ΚΕΠΕ)
Original Title:
Αποτίμηση αξίας μη εισηγμένης επιχείρησης με τη μέθοδο των προεξοφλημένων ταμειακών ροών στην επιχείρηση: το παράδειγμα της εταιρείας CALORIA ABEE
Languages:
English
Greek
Translated title:
Valuation of non-listed company with the method of discounted cash flows to firm: the example of CALORIA SA
Summary:
The aim of this paper is to determineestimate the value of a non-listed business using the Discounted Cash Flow (DCF) method. To achieve this objective, a literature review was carried out to clarify key concepts and to investigate the DCF method. Subsequently, the aforementioned method was applied for the valuation of a small Greek business operating in the central heating industry. The findings have revealed that the valuation of a non-listed business requires the acceptance of assumptions and admissions for the calculation of the Weighted Average Cost of Capital (WACC). In addition, the lack of comparable results for non-listed companies emerged, necessitating the activation of the academic community both in standardizing the process of valuation of small and medium businesses and in creating a value database for non-listed businesses, which undoubtedly form the backbone of Greek entrepreneurship.
Main subject category:
Social, Political and Economic sciences
Keywords:
valuation of non-listed company, discounted cash flow method, weighted average cost of capital, small medium enterprises, Greece
Index:
No
Number of index pages:
0
Contains images:
Yes
Number of references:
81
Number of pages:
102
File:
File access is restricted only to the intranet of UoA.

ΣΦΑΚΙΑΝΑΚΗΣ_ΑΝΔΡΕΑΣ_154069.pdf
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