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Valuation Methods and Shareholder Value Creation provides a comprehensive examination of valuation tools and guidance for analyzing and valuing a business.
It covers the basics of valuation methods and shareholder value creation in addition to rigorous approaches to discounted cash flow valuation and real options for valuing a company. It highlights quantitative analyses of firm value; emphasizes qualitative management assessments; and integrates data from international companies.
By examining eight different methods of discounted cash flow valuation and discussing the pros and cons of each method, the book offers thorough, accessible coverage of corporate valuation.
The book provides well-structured guidance for practitioners and MBA students with a background in finance.
- Highlights quantitative analyses of firm value
- Emphasizes qualitative management assessments
- Integrates data from international companies
Practitioners and MBA students with a background in finance.
Basic Concepts; Company Valuation Methods; Price-Earnings Ratio, Profitability, Cost of Capital, and Growth; Splitting the Price-Earnings Ratio: Franchise, Growth, Interest, and Risk Factors; Market Value and Book Value; Dividends and Market Value; Interest Rates; Valuation Using Multiples; Cash Flow and Net Income; Inflation and Value; Cost of Equity; Valuations of Internet Companies; Proposed Measures of Value Creation, Economic Profit, MVA, CVA, CFROI, and TSR; EVA, Economic Profit, and Cash Value Added do not Measure Shareholder Value Creation; The RJR Nabisco Valuation; Valuation and Value Creation in Internet-Related Companies; Discounted Cash Flow Valuation Methods; Optimal Capital Structure; Financial Literature about Discounted Cash Flow Valuation; Application of the Different Theories to RJR Nabisco; Eight Methods and Seven Theories for Valuing Companies by Cash Flow Discounting; Real Options; Valuation of Brands and Intangibles; Appendix A: Capital Asset Pricing Model (CAPM).
- No. of pages:
- © Academic Press 2002
- 30th August 2002
- Academic Press
- Hardcover ISBN:
- eBook ISBN:
IESE Business School, University of Navarra, Madrid, Spain
"This book is an impressive synthesis of sound theory and best practice, accessible to the novice and yet of such depth as to be compelling to the advanced practitioner. It is an important addition to the professional library of both the aspirant to senior executive positions, and to the finance specialist. Acquire it without hesitation." --Robert F. Bruner, Distinguished Professor of Business Administration and Executive Director of the Batten Institute, University of Virginia, Charlottesville
"Pablo Fernandez's Valuation Methods and Shareholder Value Creation is an ambitious and comprehensive managerial treatment of valuation. Valuing projects and firms is critical to the work of executives, investors, bankers and others, and this book provides these decision-makers with a valuable road map through this difficult terrain." --Peter Tufano, Sylvan C. Coleman Professor of Financial Management and Chair, Finance Area, Harvard Business School