| dc.description.abstract | With the overall purpose of studying the way to analyze and create valuation of enterprises operating in Vietnamese market, this thesis used the domestic joint-stock corporation, Hoa Phat Group (HPG), as a case study, in order to find its intrinsic value within the fluctuation of the economy. Several models and methods are applied in order
to create the validity and reliability of this thesis, which are: Porter’s Five Forces, SWOT, Discounted Cash Flows method. Besides, many of mathematical and statistical approaches had been applied in conducting the analysis and valuation in this research
The outcomes of applying DCF model and relative valuation in this research suggested that the value per share of Hoa Phat Group joint-stock Corporation is worth VND 21,991 while it was traded at the value of VND 15,900 as at December 30th, 2011.
Although this topic is not new, easy to create subjective assumption in conducting prospective analysis, and has been conducted by many researchers, I had tried to create
the most precise analysis and valuation, especially forecasting the corporation performance in the next 10 years. Besides, in order to reduce the extent of uncertainty when estimating the variables in this study, risk analyses are also conducted, which are: sensitivity analysis, scenario analysis and simulation analysis. Furthermore, this thesis also examines how appropriate the DCF model is applied to make valuations for Vietnamese enterprises.
Last but not least, some conclusions and recommendations were made, including suggesting that investors should buy HPG’ stock since this corporation was considered undervalued. Besides, the analyses of macro-economic condition and company’s financial performance also can help the mangers of firm have the clearer picture of its business so that they can give suitable strategies to make the company operates more
effectively. | en_US |
