EBITDA: systematická rešerše literatury

The aim of this thesis is to analyze the significance of the EBITDA indicator, its use, and its informational value in the context of international finance. The research method applied was a systematic literature review, through which a sample of 53 relevant scholarly articles was identified from the Scopus and Web of Science databases, published between 2015 and 2025. The articles focus on the issue of EBITDA across various industries and regions. The key findings confirm that EBITDA is a widely used and important tool for assessing firms’ operating performance, while at the same time providing significant informational value for investors and other stakeholders. The analysis revealed that the indicator significantly contributes to reducing information asymmetry. Smaller or highly indebted companies disclose this indicator more frequently, and at the same time, there is a risk of misuse due to breaches of debt covenants or efforts to gain visibility on the stock market. Excessive management focus on EBITDA can also lead to excessive investments and higher indebtedness. The main implications include recommendations for a critical approach to interpreting EBITDA, greater transparency in its reporting, and the need for global harmonization of its definition. This thesis contributes to the discussion on the role of EBITDA as a non-GAAP and non-IFRS metric and formulates recommendations for further empirical studies and methodological improvements.