出版社：Visoka poslovna škola strukovnih studija, Novi Sad
摘要：The assessment of the firm value by discounting cash flows may be achieved through free cash flow to equity (FCFE) and free cash flow to the firm (FCFF).Although these two approaches will theoretically have the same results,in reality it is not often the case.The aim of this paper is to find the similarities and differences,and advantages and limitations of these two approaches to assess the firm value.The comparative review of these two models leads to the conclusion about the choice of more adequate approach to assess the firm value.
其他摘要：Procena vrednosti preduzeća diskontovanjem novčanih tokova se može vršiti diskontovanjem novčanih tokova nakon servisiranja dugova i diskontovanjem novčanih tokova pre servisiranja dugova.Iako bi u teorijskom smislu ova dva pristupa trebalo da pruže iste
关键词：valuation; discounting; cash flows; rate of return;residual value; market value
其他关键词：procena vrednosti;diskontovanje;novčani tokovi;stopa prinosa;rezidualna vrednost;tržišna vrednost
