Stanovení diskontní sazby v investičním rozhodování

This thesis addresses the question of whether companies in the Czech Republic determine a discount rate for investment evaluation purposes. It further examines which factors are significant and influence the level of this rate. Through a questionnaire survey and statistical tests, it was found that Czech companies most frequently use static methods for evaluating investment efficiency, and therefore do not establish a discount rate. In the minority of companies that use one or more discount rates, the weighted average cost of capital is most commonly used by the finance or controlling departments as the base rate. However, the final level of the discount rate is further shaped by market risk, distrust in the correctness of management decisions, and changes in uncertainty regarding industry developments. The conclusion of the thesis offers recommendations for the use of dynamic methods and for a more accurate determination of the discount rate, taking into account specific project risks, investment duration, and other factors.