Ανάλυση, αποτίμηση και αξιολόγηση ναυτιλιακών εταιρειών
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Keywords
Επιχειρήσεις ; Μετοχές ; Αποτίμηση τιμών μετοχών ; Αποτίμηση επιχειρήσεων ; Μερισματική απόδοση ; Ταμειακές ροές ; Χρηματοοικονομική ανάλυση ; Ναυτιλιακές εταιρείεςAbstract
This paper is an attempt to analyze the financial science and the valuation method. In a period of economic crisis the valuation of a share but also of an entire company is crucial for investors. In this work we analyze the basic steps for valuation. We also analyze the basic methods of valuation, methods based on accounting data, methods based on discount cash flows and methods based on market data. While it is made for each method an analysis of the most important, in my view, models. Finally there is a reference to two factors, growth rate and capital cost, which are directly affecting the valuation. At the time of economic crisis, there are few industries in Greece that came out unscathed and in some cases even enhanced , one of them is the shipping industry. The shipping industry is essential and symbolic important for the Greek economy. Significantly contributes both directly and indirectly -through synergies with other sectors- more than 6% annually in economic activity while constituting the peak, but also the most recognizable symbol of successful extrovert of Greek entrepreneurship, competing successfully at international level. The Greek shipping companies are an important part of world shipping. This paper focuses on Shipping Company Χ, one of the largest Greek shipping companies with a long presence in the industry. This work is an effort to apply the basic valuation models to this company, using data from the published statements 2015-2013 and from the internet. The application of the models was in the form of work to obtain the Master.