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PREDICTING THE VALUE OF CZECH FAMILY BUSINESSES: WHAT FACTORS INFLUENCE VALUE CREATION?

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F22%3APU147670" target="_blank" >RIV/00216305:26510/22:PU147670 - isvavai.cz</a>

  • Result on the web

    <a href="https://drive.google.com/drive/folders/1YiIEeOEM17gb7_igFpaJ7200YxY8_WQe" target="_blank" >https://drive.google.com/drive/folders/1YiIEeOEM17gb7_igFpaJ7200YxY8_WQe</a>

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    PREDICTING THE VALUE OF CZECH FAMILY BUSINESSES: WHAT FACTORS INFLUENCE VALUE CREATION?

  • Original language description

    Our research is concerned with the valuation of family businesses, for which reason we investigated whether standard valuation procedures can be used for family businesses or whether their modification is necessary. To determine the value of a business, it is necessary to identify the factors that affect its ability to create value; one of these is the cost of equity. Estimating the cost of equity for unquoted companies is still an issue that has yet to be satisfactorily resolved. The combination of these issues leads to a gap in the research that we are seeking to fill with our research. The cost of equity was estimated using the modified CAPM approach, with the accounting beta as an approximation of market beta. The accounting beta was estimated on data on 34,602 SMEs operating in the Czech Republic from 2012 to 2020. We measured the ability of family businesses to create value as the difference between the ROE and the cost of equity (i.e. the value spread). The analysis of value spread was conducte

  • Czech name

  • Czech description

Classification

  • Type

    O - Miscellaneous

  • CEP classification

  • OECD FORD branch

    50206 - Finance

Result continuities

  • Project

    <a href="/en/project/TL02000434" target="_blank" >TL02000434: Family businesses: Value drivers and value determination in the process of succession</a><br>

  • Continuities

    P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Others

  • Publication year

    2022

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů