PRIMJENA METODE RIZIČNIH NOVČANIH TOKOVA (CFaR) U ANALIZI RIZIKA NA PRIMJERU PODUZEĆA VALAMAR RIVIERA D.D.

master's thesis

• Title (english): APPLICATION OF THE CASH-FLOW-AT-RISK MODEL (CFaR) IN RISK ANALYSIS - THE CASE OF VALAMAR RIVIERA D.D.
• Author: Sara Nikpalj
• Mentor: Danijela Miloš Sprčić (mentor)
• Committee member: Andrija Sabol (predsjednik povjerenstva)
• Committee member: Davor Zoričić (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Managerial Economics); Zagreb
• Defense date and country: 2021-07-05, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Economics of Entrepreneurship

Abstract

Cilj ovog rada jest povećanje svijesti o rizicima u poslovanju i njihove dvojake uloge, te važnosti integriranog procesa upravljanja rizicima s naglaskom na utjecaj na dugoročnu maksimizaciju vrijednosti poduzeća. Rad obuhvaća primjenu znanstveno utemeljene metodologije integriranog upravljanja rizicima u analizi slučaja Valamar Riviera d.d. koje je uzeto kao primjer lidera u domaćoj turističkoj industriji, koja ujedno predstavlja važnu kariku u strukturi domaćeg gospodarstva. Provedenom analizom identificirani su ključni rizici promatranog društva te njihov potencijalan utjecaj na novčane tokove i u konačnici na sadašnju vrijednost društva. Zaključno, iako postoji već uspješno uspostavljen sustav upravljanja rizicima, temeljni izazov društva, industrije i cijelog gospodarstva trenutno predstavlja rizik posljedica COVID-19 pandemije, odnosno rizik iz vanjskog okruženja koji nije moguće kontrolirati.

Abstract (english)

The aim of this paper is to increase awareness of business risks and their dual role, and the importance of an integrated risk management process with an emphasis on the impact on long- term maximization of the company value. The paper includes the application of a scientifically based methodology of integrated risk management in the case of Valamar Riviera d.d. which is taken as an example of a leader in the domestic tourism industry, which is also an important part of the domestic economy structure. The analysis identified the key risks of the observed company and their potential impact on cash flows and ultimately on its present value. In conclusion, the company has already successfully established a risk management system, but the fundamental challenge of the company, industry and the entire economy is currently the risk of the consequences of the COVID-19 pandemic, i.e. the risks of the external environment that cannot be controlled.

• Keywords: analiza rizika; integrirano upravljanje rizicima; rizični novčani tokovi; diskontirani novčani tokovi; turistička industrija
• Keywords (english): Risk Analysis; Enterprise Risk Management; Cash Flow at Risk; Discounted Cash Flow; Tourism industry
• Language: croatian
• URN:NBN: urn:nbn:hr:148:364089
• Study programme: Title: Business Economics; Study programme type: university; Study level: integrated undergraduate and graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Open access; Embargo expiration date: 2022-06-07
• Created on: 2021-07-05 16:00:27