Estimarea primei de risc pentru evaluarea unei companii romanesti.Cazul Antibiotice SA
ESTIMATING EQUITY RISK PREMIUM FOR VALUATING A ROMANIAN COMPANY. THE CASE OF ANTIBIOTICE SA

Summary/Abstract: The estimation of the equity risk premium continues to create interesting debates in academic and practice fields. Many studies generated evaluation models, some of them with academic recognition, but few of them were really applied in practice. There was always the case of the necessity the models’ adjustments in order to reflect more accurately the economic reality and the capital market’s characteristics. In this paper we intend to apply some practical adjustments for the risk premium’s evaluation, considering the characteristics of the Romanian economy and capital market (Bucharest Stock Exchange - BSE). The reconciliation of the values obtained by applying different models is a very important issue in searching the real value of the risk premium.

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