Αποτίμηση επιχειρήσεων με βάση την οικονομική τους διάρθρωση και χρήση στατιστικών μεθόδων ταξινόμησης σε ομάδες
In this thesis we will try to evaluate companies based on their financial structure with the use of statistical classification methods in groups. In order to conduct this research we need to first identify and analyze the basic methods of the companies’ valuation and then to refer to the most known...
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| Main Authors: | , |
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| Language: | English |
| Published: |
2021
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| Subjects: | |
| Online Access: | http://hdl.handle.net/11610/21868 |
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| Summary: | In this thesis we will try to evaluate companies based on their financial structure with the use of statistical classification methods in groups. In order to conduct this research we need to first identify and analyze the basic methods of the companies’ valuation and then to refer to the most known statistical methods of classification.
We start with the first chapter, the Discounted Flow Analysis in which we try to set the definition of the DCF Analysis while we continue by describing step by step how it is used and what is exactly its function. When making a critical review though, we come to the conclusion that this method appears to have some limitations and we will not further use it for our research.
Afterwards, with the second chapter, the chapter of Accounting, Financial Ratios, we need to well define and explain the basic concepts of accounting. We give the definitions of the Asset Statement and the Corporate Statement of a company in order to be comfortable enough to read the financial statements of a company. Then, we try to easily determine what the financial ratios are, in which categories they are divided in as well as, to set and analyze the most important financial ratios in any category.
Thereinafter, in the third chapter we pass at the statistical section of this work. Here we start by examining the Multivariate Analysis getting to know better how we can classify or quantify prices that have more than one or two values. Afterthought, we try to set and clarify to the fullest the Cluster Analysis. This one is the classification method that we will further use in our research.
Finally, we have the final part of our thesis which is the application that is applied in our research. In order to proceed to this, we will study thirty Greek SA Companies with different economic structure. We then take the initiate to choose six financial ratios, the four of them are the most important financial ratios witch belong in the category of investment valuation ratios while respectively the two others belong in the category of the economic structure financial ratios.
As a result, we will put the given values of the ratios of each enterprise in an R coding environment in order to classify the thirty companies in to four different valuating categories in the Market. These are; the healthy and well-valuated in the Market category, the healthy but under valuated in the Market companies, the not-healthy but expensive in the Market Category and the not-healthy and well valuated in the Market Companies. |
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