LEADER 05206nam 22006734a 450 001 9910780449903321 005 20230120003953.0 010 $a1-281-02040-0 010 $a9786611020408 010 $a0-08-052037-5 035 $a(CKB)111090515800006 035 $a(EBL)297977 035 $a(OCoLC)213298439 035 $a(SSID)ssj0000312585 035 $a(PQKBManifestationID)11925260 035 $a(PQKBTitleCode)TC0000312585 035 $a(PQKBWorkID)10332026 035 $a(PQKB)11743282 035 $a(MiAaPQ)EBC297977 035 $a(Au-PeEL)EBL297977 035 $a(CaPaEBR)ebr10175644 035 $a(CaONFJC)MIL102040 035 $a(EXLCZ)99111090515800006 100 $a20020128d2002 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aValuation methods and shareholder value creation$b[electronic resource] /$fPablo Ferna?ndez 210 $aSan Diego, Calif. $cAcademic Press$dc2002 215 $a1 online resource (661 p.) 300 $aDescription based upon print version of record. 311 $a0-12-253841-2 320 $aIncludes bibliographical references and indexes. 327 $aFront Cover; Valuation Methods and Shareholder Value Creation; Copyright Page; Contents; Preface; Acknowledgments; Part I: Basics of Valuation Methods and Shareholder Value Creation; Chapter 1. Shareholder Value Creation, Basic Concepts; 1.1. Increase of Equity Market Value; 1.2. Shareholder Value Added; 1.3. Shareholder Return; 1.4. Required Return to Equity; 1.5. Created Shareholder Value; 1.6. The ROE is not the Shareholder Return; 1.7. Comparison of General electric with Other Companies; 1.8. Value Creation and Value Destruction of the S&P 500 327 $a1.9. What Should the Shareholder return be Compared With? Reference; Chapter 2. Company Valuation Methods; 2.1. Value and Price. What Purpose Does a Valuation Serve?; 2.2. Balance Sheet-Based Methods; 2.3. Income Statement-Based Methods. Relative Valuation; 2.4. Goodwill-Based Methods; 2.5. Cash Flow Discounting-Based methods; 2.6. Which is the Best Method to Use?; 2.7. The Company as the Sum of the Values of Different Divisions: Break-Up Value; 2.8. Valuation Methods Used Depending on the Nature of the Company; 2.9. Key Factors Affecting Value: Growth, Return, Risk, and Interest Rates 327 $a2.10. Speculative Bubbles on the Stock Market 2.11 Most Common Errors in Valuations; References; Chapter 3. Price-Earnings Ratio, Profitability, Cost of Capital, and Growth; 3.1. Evolution of the Per on the International Stock Markets; 3.2. Factors Affecting the Per; 3.3. Influence of Growth(g) on the Per; 3.4. Influence of the Roe on the Per; 3.5. Influence of the Required Return to Equity on the PER; 3.6. Influence of Interest Rates on the PER; 3.7. Growth Value and PER Due to Growth; Summary 327 $aAppendix 3.1: Price PER Share, Market Capitalization, Earnings PER Share (EPS), Dividend Yield and PER of the Companies Included in the Euro Stoxx 50 on 30 May 2001 Appendix 3.2: Breakdown of the Price PER Share Between No-Growth Price and Growth Value; an Breakdown of the PER (Companies Included in the Euro Stoxx 50 on 30 May 2001); Appendix 3.3: Relationship Between the PER and Growth (g), Required Return to Equity (Ke) and Return on Equity (ROE) in a Company with Constant Growth 327 $aChapter 4. Splitting the Price-Earnings Ratio. Franchise Factor, Growth Factor, Interest Factor, and Risk Factor 4.1 PER, Franchise Factor, and Growth Factor; 4.2. PER*, Franchise Factor*, and Growth Factor; 4.3. PER, Interest Factor, and Risk Factor; 4.4. Value Generation Over Time in Companies with Growth; 4.5. Influence of Growth on the Franchise Factor and on the Growth Factor; 4.6. Influence of the ROE on the Franchise Factor; 4.7. Influence of the Required Return to Equity on the Franchise Factor and on the PER; Appendix 4.1: Splitting the PER; Reference 327 $aChapter 5. Market Value and Book Value 330 $aValuation 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. By examining eight different methods of discounted cash flow valuation and discussing the pros and cons of each method, Ferna?ndez offers thorough, accessible coverage of corporate valuation. With examples and case studies from international markets, this 606 $aValuation theory 606 $aCorporations$xValuation 606 $aPrice-earnings ratio 606 $aStocks$xPrices 615 0$aValuation theory. 615 0$aCorporations$xValuation. 615 0$aPrice-earnings ratio. 615 0$aStocks$xPrices. 676 $a658.15 700 $aFerna?ndez$b Pablo$f1957-$01547495 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910780449903321 996 $aValuation methods and shareholder value creation$93803910 997 $aUNINA