Verslo vertės veiksnių analize pagrįstas verslo vertinimo modelis ; A business valuation model based on the analysis of business value drivers
39
pages
Documents
2005
Le téléchargement nécessite un accès à la bibliothèque YouScribe Tout savoir sur nos offres
39
pages
Documents
2005
Le téléchargement nécessite un accès à la bibliothèque YouScribe Tout savoir sur nos offres
KAUNAS UNIVERSITY OF TECHNOLOGY LITHUANIAN ENERGY INSTITUTE Vilma Kazlauskien ė A BUSINESS VALUATION MODEL BASED ON THE ANALYSIS OF BUSINESS VALUE DRIVERS Summary of Doctoral Dissertation Social Sciences, Economics (04 S) Kaunas, 2005 1 The scientific work was carried out in 1998-2003 at Kaunas University of Technology Scientific supervisor: Assoc. Prof. Dr. Pranas CHMIELIAUSKAS (Kaunas University of Technology, Social Sciences, Economics – 04 S). Council of Economics Sciences trend: Assoc. Prof. Dr. Bronius NEVERAUSKAS (Kaunas University of Technology, Social Sciences, Economics – 04 S) – chairperson; Assoc. Prof. Dr. Kristina LEVIŠAUSKAIT Ė (Vytautas Magnus University, Social Sciences, Economics – 04 S); Prof. Dr. Habil. Zigmas LYDEKA (International School of Management, Social Sciences, Economics – 04 S); Prof. Dr. Vytautas SNIEŠKA (Kaunas University of Technology, Social Sciences, Economics – 04 S); Assoc. Prof. Dr. Gražina STARTIEN Ė (Kaunas University of Technology, Social Sciences, Economics – 04 S). Official opponents: Prof. Dr. Habil. Aleksandras Vytautas RUTKAUSKAS (Vilnius Gediminas Technical University, Social Sciences, Economics – 04 S); Prof. Dr. Eugenijus BAGDONAS (Kaunas University of Technology, Social Sciences, Economics – 04 S).
Voir
KAUNAS UNIVERSITY OF TECHNOLOGY LITHUANIAN ENERGY INSTITUTE Vilma Kazlauskien
A BUSINESS VALUATION MODEL BASED ON THE ANALYSIS OF BUSINESS VALUE DRIVERS
Summary of Doctoral Dissertation Social Sciences, Economics (04 S) Kaunas, 2005
1
heT ried out was carif cowkrs icneitsierivUns naau Kta 3002-8991 ni c sutificien Solyghcon feTyto ELMICHs S KAUSIA sanuaK(isrevinUisorpervsoc.: As.fD P oraran.rP Es,nococsmi 0 )S 4C .cnuoo lity of Technology ,oSiclaS icneecrB .rD .forP .coKAUSRAVENEs iuoncSeici snomo fcE Assnd: trencesS laneic ,ygicoSmino css,ceco E snUvire SK(uaanTechnolosity of ASUELIV V(AKTIr. Kf. Dina ristsA ;nosrorP .cos S)4 0peirha cmoci s 40S ;)P l Sciences, EconevintisrS ,yaicoauyts tagnMa Uusemenanagof Mool S hcnolaanittnre(IA EKYD LasgmZi .libaH .rD .fors SNIEK Vytautaor.fD .r40S ;)P icom s , esonEccS lcneiS ,taicoc. PAssoS); 04 ianG arD .ror.funKa (NIERTTA Sfo ytisrevinU sas UniverA (KaunaeThconolisyto f Salenci, gyciSoimon sc,secocE :rPnestrD .fo .l. AHabiandrleksuatyV saKTUR sat (ASSKAUs iulnViT cenhlogo,yS coial Sciences, Ecmono sci40 .)S Of cifi oalonppSANODGAB sujinegEu. Dr. ofPr; S)logocenhfoT ti yvers Uniunas (Kaisre ,yt lacvinUTes nichdiGenamisc 0 4E oconimciences,Social S pketal t acelaatressiDliw noitthe of cil Counponeht eitgnm ee, esonEcicom s S ,yaicocS lcnei defence of the 40S .) uPlbcilduig intren BalD .KlenoK fo( UTon Defenssertatitat ehC ecH la lbrFe5 2on. .m piD ni 5002 ,yrau Scimicsconoof Eta1 ne d srtneec73( 3 )003 72400Fa. (x:0)377 34-0492 ,aKnusa ,Lithuania. Tel.::sserddAenoD .K gioičlaLT, 73. o.giaičr oo7 ,33, Km 40s). aunaatitnoi eidssre2005. Thanuary, no J 52oitasi nis Drtsearmmofy eus fhteto tadg-oundine se Thtl.utk@epurg.kom: ilmaE-. 444132rgy Institute (B diLhtauinnaE en20. Ka, asunan) .K(enoDčialg oi Tecy ofogy hnolsaU aKnusrtiinevraib Lhef oesrialiava st ta elbaKnusa.) ©.VK reslaujos g. 3,
laazkius,en00 2
2
5
KAUNO TECHNOLOGIJOS UNIVERSITETAS LIETUVOS ENERGETIKOS INSTITUTAS Vilma Kazlauskien
VERSLO VERTS VEIKSNIANALIZE PAGRSTAS VERSLO VERTINIMO MODELIS
Daktaro disertacijos santrauka Socialiniai mokslai, ekonomika (04 S) Kaunas, 2005
3
.g s ,3 nuaK )sablbiteioseko ©. nereegitok snitsituto (BreslaujoaKlzV .einuaks05
a reacijsertDislok mosikomonEk .)S 40 akimoekonai, okslai milincoai,ss etatchtelonoKa (o unUARESAKSsuinVEN dr. Broa: Doc.set raby orkpyitilskoM odav sinveni uose etitrst ceuaongojinhlo 199ngta03 K8-20igol sojvinuisre (ASunKateo nochnasaC MHEIILUAKSvas: Doc. dr. Pr0 4ak onime okbil.. haProfS); icos ,satetisrevi,laksmoi iainalv dabysouakotij, social mokykla samEDYL.rd giZ utta in (KArpTaslai mokonom, ek 40ki a ipS )uns jogitesierivcos ,satiainilaiIAUSKAIT (Vytatu oiDdoioju ininrmkain Ds;. oc .rdsirKanitVEL moksiai ekolai,sa ,titelaniosicalcifi Opo ojiie akimon .)S 40 . Graina STARTI 40S ;)D co .rdogolosijni ursve NEuaK(t onnhceat,sisetvire snugijonolotechuno akimonoke ,ialsok mainiliiaoc s 0 4)Sokonimakkslai, einiai moAKEaK( satuINS . drtaVyPr; . ofetisrevicos ,satainiliiaaislok mnomo ,ke 40ki a S).rtacDise ak 40 ;)SforPdr. Eu. niges juABDGNOSA( aKnu otechnologijos unhnec tnomidiGes tetisrevinu sokiiai alinsocias, onime okal,iomskofPrha. ntne: aikelAdnas lib .rdutas RUTras VytaV(liinuaAKSUAK S3, 7T- L0244 K9,D .Klenoičia.g oaunas). Adresas .37 , 04 3.aK neDo. (K gioičlaominyg ejlas Di rmacijsertotc isetniinertnu sreviolonojigo unchteal vKa. 52d .31oim n .m. vasarje 2005 ydsop sobyrat sieptry kloksmos imokokonemE eiama vginabus ija čioig .02 ,aKnuas) ir Lietuvos golosojiinu srevetit(Ko Do. laneilam aagpias su Kauintiechnno tas .m 50 52 oisudiu Sd.ijacrtseos santrsertacijits a02uaaki s: ask.mo. Eltpatl.uiD purgtk@es: (aksa2. F000444 .23143 773)0. vatuie Ls,naau3 73 )073( :.leT
4
, 20ned to market ecamitnof or mlpnanococ miantrorsf,dna ti t sie eh intintotionernanietht eoi nrgtandhar hes iit, O .ymonoto eht ng olabiluctlrula social-omic and ehtnoce ,me dnac mistsy ealnocot oende s accrure o thessesrocep eseht fo esruo che tIn. ontisa DORTNI 5 ONTIUCalicop TerodLin e ur mofoce imonauhtnainhe subjeity of tek yeftatc .hT esscero pwo toft h eno eht nO .set stpmenveloc depmcaehi sit ga er tocadiinus bof dna eteni tcaxeefleat rchancts ocdnse s nhttioid anteexalrnnv e segi niretn lannterprise. Businrinoemtno fnae detaler yllausu isn ioatluvas eseuo v la tfomhneblisestathe to nalpgnintaht si prere isanf nt e,sw ihhcb suniseinue its to conta p atekucalraitatterly e lontivve ta koirav yref oleabssnesibue vnrinoemtnb yanticipating thetap nretfo seht viriaarontind auant a qking seeauitvelavi etitafeefr eithf oon .ssenisub no tcntific l In scie eavul etiretarud re ato riserefc tslpmoht som efullthe ate icipa tn dot snaraoiensce urut fofs mret ni kniht ot prompt ertaintya dnu cntr ,irksone pae Oe.thn edignarhtarw reehp set metaorlb preangermindete nihtiw r ediw anesibuf ueal vssehf ultcauitnoo he other part, temidoisn .snt nOan r ogevaf e luveni era ytniatrteburitt aleabitw ehemtnrinoe vnunceand isk re rlucloitai atac nyn dicam. ns aInt omelpd menasdasted daoy forec vssnesiay muealautculf a ni ethanghe c vare ofd iroisu ,ubevsr’sseus besinfos acer ,ts eudt ots of the processo fht eneetpriricifit lscn ntieelboI .mifitrp cissues o on the ofucisgnretaru eim dleabobprt osm eht etaluclac cien. Saluess visen fubnoo neisssucv de yregarfdre eriviss is dr seaecrehsre pmmentally. Thougheht noit tcepsa nesibuf uaal vsssunifob avulse she aof tsis nalynise savniecb suges withlue chan egni foeht ahc dngverilunfcienr ne tfopscecia inalhe fng tderib no noisulcnoc Se.luvas esinusecomes urgent. Bsadeo nushca nalanisyst iulwoeb dsop lbisot ethe rs, ysisanalrdvio fhttare sime av hn octpassenisubb eulav vers. Gialue drienrap erev n ailalevtiuar foe thenisv sso noub fthe see to cultno salit-rernietri dofn ioatntseiffid ti si srevowkr sfoa tuohsr who explore thelav d euevirp srsereedntn ie thocsn enitna sietnsufnd ient fici seussi nisub foluvas esarn ioateht v esoitafo nveinigstn iod anssficitat ehc alroach tofied appssenisub gnicneuflinf onsioaticssfic alenra eil. Thvers drialue vofuealri drsvegnineht pmi tcatance of determiahisest ehi pmro irehe tni unos senisub ,eulav sdimethe n ofnsio tnit ahcn elfeus ichhi ws,silyics ni detneserpratulitefic entitsw eom shtera iedden elidusy ht gmi emretninidrivers pact of se savulnob suniht gnihstcapmi eivdrf o bons erse ssuni eraavulry le veed. imiti tIon sne thguoo tanlepo uthn eerustl sfot eh sensitivity anahT eeu .v laenssbusi on vers drirutaretil cifitniescf oisysalanott eha reneec sthat refe shows tse ilbadohtni s oonmef lippticausinng bvaluess ehi fot neicfnul vssnesir ouealrevird eub dna sitatively the imotm aeuserq autnbuf nesi vssuealtcap fo nahco egtis itaut no ehe nc ainac faltuhtred irevsr .iSible change of osspoe idasg inavel ,eulav ssenisn bue) oreas/decaeesnirceg( hcnari dr veoft ne oi ehcapmaulat etes to evly enablesi tno,eb ceua
