The valuation handbook [[electronic resource] ] : valuation techniques from today's top practitioners / / Rawley Thomas, Benton E. Gup

• Record Nr.: UNINA9910139883403321
• Autore: Thomas Rawley <1946->
• Pubbl/distr/stampa: Hoboken, NJ, : Wiley, c2010
• ISBN: 0-470-53997-6; 1-282-30762-2; 9786612307621; 1-118-26817-2; 0-470-53995-X
• Edizione: [1st edition]
• Descrizione fisica: 1 online resource (659 p.)
• Collana: Wiley finance ; ; 480
• Altri autori (Persone): GupBenton E
• Disciplina: 332.63221; 658.15
• Soggetti: Corporations - Valuation; Stocks - Prices
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: The Valuation Handbook: Valuation Techniques from Today's Top Practitioners; Contents; Preface; VALUATIONS ARE IMPORTANT; VALUATION CHALLENGES: WHICH TECHNIQUES TO APPLY; CONTRIBUTORS; CHAPTER SUMMARIES; Chapter 1: Two Frameworks for Understanding Valuation Models; TOP-DOWN/BOTTOM-UP ANALYSIS; LIFE CYCLE; FIRMS; CONCLUSION; NOTES; Chapter 2: The Value Edge: Reap the Advantage of Disciplined Techniques; VALUATION DECISIONS ARE MADE DIFFERENTLY BY DIFFERENT PEOPLE; TECHNIQUES OF COMMUNICATING VALUE CAN DEMONSTRATE A COMMITMENT TO VALUE BUILDING; ANALYSTS BEWARE: ONCE-SUCCESSFUL PUBLIC COMPANIES CAN LOSE THEIR WAYINCENTIVE COMPENSATION TECHNIQUES BASED ON VALUE ARE BETTER; VALUATION TECHNIQUES FOR PRIVATE COMPANIES ARE ALSO MORE DATA DRIVEN; ESTIMATES OF VALUE MAY DIFFER DEPENDING ON DATA INTEGRITY; FINANCE THEORY AND CORPORATE VALUE; THE VALUE EDGE BEGINS AT THE STRATEGIC BUSINESS UNIT LEVEL; THE WATERFALL OF VALUE I DENTIFIES VALUE CREATORS AND ; DESTROYERS; BETTER VALUATION FRAMEWORKS PROVIDE DISCIPLINE; THE VALUE JOURNEY HAS MANY STEPS ALONG THE WAY; ACKNOWLEDGMENTS; REFERENCES; Chapter 3: Applying a Systems Mindset to Stock ValuationCHOICE 1: A SYSTEMS MINDSET; CHOICE 2: FIRMS' COMPETITIVE LIFE CYCLE; CHOICE 3: INFLATION ADJUSTMENTS AND ECONOMIC RETURNS; CHOICE 4: DENOMINATOR DEPENDS ON THE NUMERATOR; CHOICE 5: INSIGHTS AND PLAUSIBILITY JUDGMENTS; BACK TO THE FUTURE; SEARCHING FOR FAILURES AND SUCCESSES; CONCLUSION; NOTES; REFERENCES; Chapter 4: Comparing Valuation Models; LITERATURE REVIEW; BRIEF DESCRIPTION OF THE VALUATION MODELS THAT ARE COMPARED; AN EXPERT SYSTEM THAT DOES VALUATION; GOODNESS OF FIT: INITIAL SAMPLE (1,395 VALUATIONS 1993 TO 2000); TESTS OF DCF IN A HOLDOUT SAMPLE (NEW SAMPLE 2000-2008)CONVERGENCE TESTS; STRAW MAN HORSE RACES (COMPARISON OF THREE MODELS); CONVERGENCE; CONCLUSION; NOTES; REFERENCES; Chapter 5: Developing an Automated Discounted Cash Flow Model; MODELS EXAMINED; DATA AND INITIAL PARAMETERIZATION; MEASUREMENT PRINCIPLES; PROPRIETARY MODELS; CONCLUSION; APPENDIX: ACADEMIC LITERATURE; NOTES; REFERENCES; Chapter 6: The Essence of Value-Based Finance; INTRODUCING VALUE-BASED FINANCE (A TRANSITION FROM ACCOUNTING TO ECONOMICS); VALUATION PERSPECTIVES: ECONOMIC PROFIT AND MARKET VALUE ADDED; VALUATION PERSPECTIVES: THE MAGNIFIERVALUATION PERSPECTIVES: FINANCIAL DRIVERS AND VALUE PROFIT MARGIN; VALUE ANALYSIS: THE PROPER FOCUS; NOTE; Chapter 7: Residual Income and Stock Valuation Techniques: Does It Matter Which One You Use?; ECONOMIC VALUE ADDED (EVA); RESIDUAL INCOME METHOD OF VALUATION; ABNORMAL EARNINGS GROWTH MODEL; NUMERICAL EXAMPLE OF RI AND AEG; CONCLUSION; NOTES; REFERENCES; Chapter 8: Modern Tools for Valuation: Providing the Investment Community with Better Tools for Investment Decisions; IDENTIFYING THE PROBLEM; WHAT DRIVES STOCK MARKET VALUATION?; OUR VALUATION METHODOLOGY-PROVIDING A SOLUTION
• Sommario/riassunto: The definitive guide to valuation written by a who's who oftoday's top practitioners <i>The Valuation Handbook</i> differs significantly from otherrelated books on this topic because the contributors arepractitioners, academics, and investment firms that explain howthey value companies and other assets. It concentrates on specificand innovative valuation techniques, rather than the theoreticalapproaches more generally accepted and discussed. Given the extremevolatility of the stock market, valuation is a critical issue foranalysts, investors, and businesses. Here, various professionalcontrib