Dividend Discount Model and its accuracy at predicting stock prices of selected CEE Banks

Marčan, August

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undergraduate thesis

Dividend Discount Model and its accuracy at predicting stock prices of selected CEE Banks

Rijeka: University of Rijeka, Faculty of Economics and Business, 2020. urn:nbn:hr:192:102785

Marčan, August

University of Rijeka
Faculty of Economics and Business

Cite this document

APA 6th Edition

Marčan, A. (2020). Dividend Discount Model and its accuracy at predicting stock prices of selected CEE Banks (Undergraduate thesis). Rijeka: University of Rijeka, Faculty of Economics and Business. Retrieved from https://urn.nsk.hr/urn:nbn:hr:192:102785

MLA 8th Edition

Marčan, August. "Dividend Discount Model and its accuracy at predicting stock prices of selected CEE Banks." Undergraduate thesis, University of Rijeka, Faculty of Economics and Business, 2020. https://urn.nsk.hr/urn:nbn:hr:192:102785

Chicago 17th Edition

Harvard

Marčan, A. (2020). 'Dividend Discount Model and its accuracy at predicting stock prices of selected CEE Banks', Undergraduate thesis, University of Rijeka, Faculty of Economics and Business, accessed 15 March 2025, https://urn.nsk.hr/urn:nbn:hr:192:102785

Vancouver

Marčan A. Dividend Discount Model and its accuracy at predicting stock prices of selected CEE Banks [Undergraduate thesis]. Rijeka: University of Rijeka, Faculty of Economics and Business; 2020 [cited 2025 March 15] Available at: https://urn.nsk.hr/urn:nbn:hr:192:102785

IEEE

A. Marčan, "Dividend Discount Model and its accuracy at predicting stock prices of selected CEE Banks", Undergraduate thesis, University of Rijeka, Faculty of Economics and Business, Rijeka, 2020. Available at: https://urn.nsk.hr/urn:nbn:hr:192:102785

Cite this item: https://urn.nsk.hr/urn:nbn:hr:192:102785

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Metadata

Title	Dividend Discount Model and its accuracy at predicting stock prices of selected CEE Banks
Author	August Marčan
Mentor	Saša Žiković (mentor)
Granter	University of Rijeka Faculty of Economics and Business Rijeka
Defense date and country	2020-07-13, Croatia
Scientific / art field, discipline and subdiscipline	SOCIAL SCIENCES Economics
Abstract	The Discounted Cash Flow (DCF) analysis is a fundamental valuation model widely used in the business and finance industry as a tool to do valuations of a company which is used as a basis for investment decisions, mergers and acquisitions, consulting, restructuring and other uses. This Bachelor Thesis will explain the key elements and assumptions of the DCF model before delving into the subtype of the Discounted Cash Flow model (DCF) called Dividend Discount Model (DDM) which is a variation on the DCF used for valuations of firms in the financial sector (banks mostly), explaining the differences between the two models. Afterwards, the Thesis will apply the model on the valuation of 2 publicly traded banks in Croatia; Privredna Banka Zagreb (ZSE:PBZ), and Zagrebačka Banka (ZSE:ZABA), representing an emerging market and two Austrian banks; Erste Group AG (VIE:EBS) and Raiffeisen bank International (VIE:RBI) which represent a more developed financial market in the same region (Central and Eastern Europe). The Paper ran the DDM model both as a valuation of the companies as well as a historical simulation to assess the accuracy of the model in predicting stock prices and dividend pay-outs.
Keywords
Language	english
URN:NBN	urn:nbn:hr:192:102785
Study programme	Title: Business economics; specializations in: International Business (held in English) Course: International Business (held in English) Study programme type: university Study level: undergraduate Academic / professional title: sveučilišni/a prvostupnik/prvostupnica (baccalaureus/baccalaurea) ekonomije (sveučilišni/a prvostupnik/prvostupnica (baccalaureus/baccalaurea) ekonomije)
Type of resource	Text
File origin	Born digital
Access conditions	Closed access
Terms of use
Repository	Repository of the University of Rijeka, Faculty of Economics and Business
Created on	2020-12-08 11:33:15