Krabec, Tomas (2007) Valuation of business where goodwill is personaly determined. In: 4th International Conference "Global Challenges for Competitiveness: Business and Government Perspective", 27-29. 9. 2007., Pula, Croatia.
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The paper deals with valuation of businesses where goodwill is closely related to the person who runs the business. Thus the value of such an enterprise consists of two parts: the value of the material substance (tangible and identifiable intangible assets) and goodwill. For our purposes, goodwill should be considered an intangible asset generating revenues and creating value for the business. However, in the vast majority of the valuation cases goodwill cannot be viewed as a tradable right in legal sense. In CEE countries, the valuation of these kinds of businesses still has not reached the level of developed economies. There are many reasons for this. The businesses were founded in the 1990s and nowadays the entrepreneurs have achieved the age of retirement. There is almost no empirical evidence, and valuation methods based on market comparables popular in western countries cannot be applied without adaptation. Together with market comparable approaches, along with these methods based on discounted cash flows can be used. In this paper we will use a sample of dental practices coming from the Czech Republic and on the basis of first empirical data, the applicability of the methods will be discussed. The DCF model necessitates some adaptations, mainly due to the specifics of these kinds of firms. The main one is the reach of the goodwill created by the current entrepreneur.
| Tip objekta: | Materijal konferencije ili radionice (Paper) |
|---|---|
| Mentor: | NIJE ODREĐENO |
| Dodatne informacije: | 4/2007 |
| Ključni pojmovi: | goodwill, valuation, small enterprises, vrednovanje, mala poduzeća |
| Teme: | 6 Tehnologija (primijenjene znanosti) > 65 Menadžment i organizacija industrije, trgovine i komunikacija > 65.01 Metode i metodologija. Teorija i praksa organizacije |
| Odjeli: | Odjel za ekonomiju i turizam "Dr. Mijo Mirković" |
| Datum pohrane: | 17 Oct 2012 11:34 |
| Zadnja promjena: | 08 Jan 2013 09:57 |
| URI: | http://eknjiznica.unipu.hr/id/eprint/1569 |
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