. "Company valuation under risk and flexibility: discrete models comparison" . . . . "Company valuation, discrete models, binomial model, trinomial model, real call option, equity value, sensitivity analysis, risk, flexibility"@en . "27510" . . . "17" . "Company valuation under risk and flexibility: discrete models comparison"@en . "7912" . . . . "[EB0BEE8F2DD3]" . . "Company valuation under risk and flexibility: discrete models comparison" . "1"^^ . . "International Journal of Risk Assessment and Management" . . . "1"^^ . "This paper concentrates on the company valuation models comparison under risk and flexibility (real option approach), This approach simultaneously reflects uncertainty in company\u00B4s future cash flows and flexibility in decision-making. Here, models for financial options valuation are applied on company assets. Equity value is calculated as American real call option holded by shareholders on company assets. Result of the valuation is the company\u00B4s equity market value. The paper is organized as follows: first, general model for company equity valuation under risk and flexibility (as a real call option) is described. Next, study case is solved where discrete models (binomial and trinomial) are compared when applied for company equity valuation. Moreover, results are compared with the situation, when the assumption of flexibility is relaxed. In the end, sensitivity analysis is performed, when impact of changes in selected inputs on the company equity value is examined." . . "1741-5241" . . . "Company valuation under risk and flexibility: discrete models comparison"@en . . "This paper concentrates on the company valuation models comparison under risk and flexibility (real option approach), This approach simultaneously reflects uncertainty in company\u00B4s future cash flows and flexibility in decision-making. Here, models for financial options valuation are applied on company assets. Equity value is calculated as American real call option holded by shareholders on company assets. Result of the valuation is the company\u00B4s equity market value. The paper is organized as follows: first, general model for company equity valuation under risk and flexibility (as a real call option) is described. Next, study case is solved where discrete models (binomial and trinomial) are compared when applied for company equity valuation. Moreover, results are compared with the situation, when the assumption of flexibility is relaxed. In the end, sensitivity analysis is performed, when impact of changes in selected inputs on the company equity value is examined."@en . "4" . "CH - \u0160v\u00FDcarsk\u00E1 konfederace" . "RIV/61989100:27510/14:86089670" . "I" . . "15"^^ . . . "\u010Cul\u00EDk, Miroslav" . "RIV/61989100:27510/14:86089670!RIV15-MSM-27510___" .