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Investment Valuation

Investment Valuation
Tools and Techniques for Determining the Value of Any Asset

by Aswath Damodaran

  • Publisher : John Wiley & Sons
  • Release : 2012-04-17
  • Pages : 992
  • ISBN : 111801152X
  • Language : En, Es, Fr & De
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The definitive source of information on all topics related to investment valuation tools and techniques Valuation is at the heart of any investment decision, whether that decision is buy, sell or hold. But the pricing of many assets has become a more complex task in modern markets, especially after the recent financial crisis. In order to be successful at this endeavor, you must have a firm understanding of the proper valuation techniques. One valuation book stands out as withstanding the test of time among investors and students of financial markets, Aswath Damodaran'sInvestment Valuation. Now completely revised and updated to reflect changing market conditions, this third edition comprehensively introduces investment professionals and students to the range of valuation models available and how to chose the right model for any given asset valuation scenario. This edition includes valuation techniques for a whole host of real options, start-up firms, unconventional assets, distressed companies and private equity, and real estate. All examples have been updated and new material has been added. Fully revised to incorporate valuation lessons learned from the last five years, from the market crisis and emerging markets to new types of equity investments Includes valuation practices across the life cycle of companies and emphasizes value enhancement measures, such as EVA and CFROI Contains a new chapter on probabilistic valuation techniques such as decision trees and Monte Carlo Simulation Author Aswath Damodaran is regarded as one of the best educators and thinkers on the topic of investment valuation This indispensable guide is a must read for anyone wishing to gain a better understanding of investment valuation and its methods. With it, you can take the insights and advice of a recognized authority on the valuation process and immediately put them to work for you.

Valuation

Valuation
Measuring and Managing the Value of Companies

by McKinsey & Company Inc.,Tim Koller,Marc Goedhart,David Wessels

  • Publisher : John Wiley & Sons
  • Release : 2015-08-17
  • Pages : 848
  • ISBN : 111887370X
  • Language : En, Es, Fr & De
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McKinsey & Company's #1 best-selling guide to corporate valuation, now in its sixth edition Valuation is the single best guide of its kind, helping financial professionals worldwide excel at measuring, managing, and maximizing shareholder and company value. This new sixth edition provides insights on the strategic advantages of value-based management, complete detailed instruction, and nuances managers should know about valuation and valuation techniques as applied to different industries, emerging markets, and other special situations. Valuation lies at the crossroads of corporate strategy and finance. In today's economy, it has become an essential role — and one that requires excellence at all points. This guide shows you everything you need to know, and gives you the understanding you need to be effective. Estimate the value of business strategies to drive better decision making Understand which business units a corporate parent is best positioned to own Assess major transactions, including acquisitions, divestitures, and restructurings Design a capital structure that supports strategy and minimizes risk As the valuation function becomes ever more central to long- and short-term strategy, analysts and managers need an authoritative reference to turn to for answers to challenging situations. Valuation stands ahead of the field for its reputation, quality, and prestige, putting the solutions you need right at your fingertips.

Security Analysis and Business Valuation on Wall Street + Companion Web Site

Security Analysis and Business Valuation on Wall Street + Companion Web Site
A Comprehensive Guide to Today's Valuation Methods

by Jeffrey C. Hooke

  • Publisher : John Wiley & Sons
  • Release : 2010-05-03
  • Pages : 408
  • ISBN : 0470277343
  • Language : En, Es, Fr & De
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An insider's look at security analysis and business valuation, as practiced by Wall Street, Corporate America, and international businesses Two major market crashes, numerous financial and accounting scandals, growth in private equity and hedge funds, Sarbanes Oxley and related regulations, and international developments changed security analysis and business valuation substantially over the last fourteen years. These events necessitated a second edition of this modern classic, praised earlier by Barron's as a "welcome successor to Graham and Dodd" and used in the global CFA exam. This authoritative book shows the rational, rigorous analysis is still the most successful way to evaluate securities. It picks up where Graham and Dodd's bestselling Security Analysis - for decades considered the definitive word on the subject - leaves off. Providing a practical viewpoint, Security Analysis on Wall Street shows how the values of common stock are really determined in today's marketplace. Incorporating dozens of real-world examples, and spotlighting many special analysis cases - including cash flow stocks, unusual industries and distressed securities - this comprehensive resources delivers all the answers to your questions about security analysis and corporate valuation on Wall Street. The Second Edition of Security Analysis on Wall Street examines how mutual funds, private equity funds, hedge funds, institutional money managers, investment banks, business appraisers, and corporate acquirers perform their craft of security analysis and business valuation in today's highly charged environment. Completely updated to reflect the latest methodologies, this reliable resource represents the most comprehensive book written by someone who has actually worked as an investment banker, private equity executive, and international institutional investor. Shows the methodical process that practitioners use to value common stocks and operating companies and to make buy/sell decisions Discusses the impact of the two stock market crashes, the accounting and financial scandals, and the new regulations on the evaluation process Covers how Internet and computing power automate portions of the research and analytical effort Includes new case study examples representative of valuation issues faced daily by mutual funds, private equity funds, hedge funds, institutional investors, investment banks, business appraisers, and corporate acquirers Is a perfect tool for professors wishing to show their MBA students the essential tools of equity and business valuation Security analysis and business valuation are core financial disciplines for Wall Streeters, corporate acquirers, and international investors. The Second Edition of Security Analysis on Wall Street is an important book for anyone who needs a solid grounding in these critical finance topics.

Business Valuation For Dummies

Business Valuation For Dummies
A Book

by Lisa Holton,Jim Bates

  • Publisher : For Dummies
  • Release : 2015-09-15
  • Pages : 364
  • ISBN : 9780470344019
  • Language : En, Es, Fr & De
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Business Valuation For Dummies is filled with expert guidance that business owners, managers at all levels, investors, and students can use when determining the value of a business. It contains a solid framework for valuation, including advice on analyzing historical performance, evaluating assets and income value, understanding a company's financial statements, estimating the cost of capital, business valuation models, and how to apply those models to different types of businesses.

Valuation Methods and Shareholder Value Creation

Valuation Methods and Shareholder Value Creation
A Book

by Pablo Fernández

  • Publisher : Academic Press
  • Release : 2002
  • Pages : 631
  • ISBN : 0122538412
  • Language : En, Es, Fr & De
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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. By examining eight different methods of discounted cash flow valuation and discussing the pros and cons of each method, Fernández offers thorough, accessible coverage of corporate valuation. With examples and case studies from international markets, this book provides well-structured guidance for students and executives alike. * Highlights quantitative analyses of firm value * Emphasizes qualitative management assessments * Integrates data from international companies

Transfer Pricing and Customs Valuation

Transfer Pricing and Customs Valuation
Two Worlds to Tax as One

by Anuschka Bakker,Belema Obuoforibo

  • Publisher : IBFD
  • Release : 2009
  • Pages : 662
  • ISBN : 9087220596
  • Language : En, Es, Fr & De
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Valuation, DCF Model Download

Valuation, DCF Model Download
Measuring and Managing the Value of Companies

by McKinsey & Company Inc.

  • Publisher : John Wiley & Sons
  • Release : 2020-11-24
  • Pages : 896
  • ISBN : 1119612462
  • Language : En, Es, Fr & De
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The Valuation DCF Model, 7th Edition is a vital companion to the seventh edition of Valuation, containing an expert guide and the renowned discounted cash flow (DCF) valuation model developed by McKinsey's own finance practice. The DCF Model can be used to value real companies in real-world situations, and includes detailed instruction and expert guidance on how to use it. The advantage of the ready-made model is that allows users to focus on analyzing a company's performance instead of worrying about computation errors.

Property Valuation Principles

Property Valuation Principles
A Book

by David Isaac,John O'Leary

  • Publisher : Macmillan International Higher Education
  • Release : 2012-01-11
  • Pages : 248
  • ISBN : 1137013575
  • Language : En, Es, Fr & De
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Property Valuation Principles is a user-friendly introduction to property valuation for students and practitioners who are new to the subject. Packed with worked examples and photos, the text covers the five main methods of valuation, their application in a variety of markets and their relation to the wider economic context. The second edition features: - Discussion on the impact of sustainability on valuation. - Photographs to illustrate different property characteristics and settings. - Even more worked examples, including buy-to-let residential properties and affordable housing.

The Mining Valuation Handbook 4e

The Mining Valuation Handbook 4e
Mining and Energy Valuation for Investors and Management

by Victor Rudenno

  • Publisher : John Wiley & Sons
  • Release : 2012-05-22
  • Pages : 624
  • ISBN : 0730377091
  • Language : En, Es, Fr & De
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An essential, in-depth guide to mining investment analysis Written by a mining investment expert, The Mining Valuation Handbook: Mining and Energy Valuation for Investors and Management is a useful resource. It's designed to be utilized by executives, investors, and financial and mining analysts. The book guides those who need to assess the value and investment potential of mining opportunities. The fourth edition text has been fully updated in its coverage of a broad scope of topics, such as feasibility studies, commodity values, indicative capital and operating costs, valuation and pricing techniques, and exploration and expansion effects.

The Lawyer's Business Valuation Handbook

The Lawyer's Business Valuation Handbook
Understanding Financial Statements, Appraisal Reports, and Expert Testimony

by Shannon P. Pratt

  • Publisher : American Bar Association
  • Release : 2000
  • Pages : 472
  • ISBN : 9781570738296
  • Language : En, Es, Fr & De
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This is a practical guide that will help lawyers and judges assess the qualifications of a business appraiser and the reliability of the information presented, and will enable them to work with valuation issues more efficiently and effectively.

The Little Book of Valuation

The Little Book of Valuation
How to Value a Company, Pick a Stock and Profit

by Aswath Damodaran

  • Publisher : John Wiley & Sons
  • Release : 2011-03-29
  • Pages : 256
  • ISBN : 9781118064146
  • Language : En, Es, Fr & De
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An accessible, and intuitive, guide to stock valuation Valuation is at the heart of any investment decision, whether that decision is to buy, sell, or hold. In The Little Book of Valuation, expert Aswath Damodaran explains the techniques in language that any investors can understand, so you can make better investment decisions when reviewing stock research reports and engaging in independent efforts to value and pick stocks. Page by page, Damodaran distills the fundamentals of valuation, without glossing over or ignoring key concepts, and develops models that you can easily understand and use. Along the way, he covers various valuation approaches from intrinsic or discounted cash flow valuation and multiples or relative valuation to some elements of real option valuation. Includes case studies and examples that will help build your valuation skills Written by Aswath Damodaran, one of today's most respected valuation experts Includes an accompanying iPhone application (iVal) that makes the lessons of the book immediately useable Written with the individual investor in mind, this reliable guide will not only help you value a company quickly, but will also help you make sense of valuations done by others or found in comprehensive equity research reports.

Investment Valuation

Investment Valuation
Tools and Techniques for Determining the Value of Any Asset, University Edition

by Aswath Damodaran

  • Publisher : John Wiley & Sons
  • Release : 2012-04-17
  • Pages : 992
  • ISBN : 1118130731
  • Language : En, Es, Fr & De
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The definitive source of information on all topics related to investment valuation tools and techniques Valuation is at the heart of any investment decision, whether that decision is buy, sell or hold. But the pricing of many assets has become a more complex task in modern markets, especially after the recent financial crisis. In order to be successful at this endeavor, you must have a firm understanding of the proper valuation techniques. One valuation book stands out as withstanding the test of time among students of financial markets and investors, Aswath Damodaran'sInvestment Valuation. Now completely revised and updated to reflect changing market conditions, this third edition comprehensively introduces students and investment professionals to the range of valuation models available and how to chose the right model for any given asset valuation scenario. This edition includes valuation techniques for a whole host of real options, start-up firms, unconventional assets, distressed companies and private equity, and real estate. All examples have been updated and new material has been added. An expansion of ancillaries include updated online databases, spreadsheets, and other educational support tools Fully revised to incorporate valuation lessons learned from the last five years, from the market crisis and emerging markets to new types of equity investments Revised examples of company valuations such as companies from Eastern Europe and Africa, which stress the global nature of modern valuation Author Aswath Damodaran is regarded as one of the best educators and thinkers on the topic of investment valuation This indispensable guide is a must read for students wishing to gain a better understanding of investment valuation and its methods. With it, you can take the insights and advice of a recognized authority on the valuation process and immediately put them to work for you.

Valuation Docket No. 1

Valuation Docket No. 1
In the Matter of Valuation of the Property of the Atlanta, Birmingham & Atlantic Railroad Company; Georgia Terminal Company and Alabama Terminal Railroad Company. Valuation Docket No. 2. In the Matter of Valuation of the Property of the Texas Midland Railroad Company. Hearings, Washington, D.C., January 29th, 30th, 31st-February 1st, 2d, 3d, 1917

by United States. Interstate Commerce Commission

  • Publisher : Unknown Publisher
  • Release : 1917
  • Pages : 320
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Valuation of Equity Securities

Valuation of Equity Securities
History, Theory and Application

by Geoffrey Poitras

  • Publisher : World Scientific
  • Release : 2010-06-30
  • Pages : 753
  • ISBN : 9814295388
  • Language : En, Es, Fr & De
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Provides a treatment of academic and practitioner approaches to equity security valuation. This book challenges conventional academic wisdom surrounding the ergodic properties of stochastic processes, guided by historical and philosophical insights. It presents the implications of a general stochastic interpretation of equity security valuation.

Damodaran on Valuation

Damodaran on Valuation
Security Analysis for Investment and Corporate Finance

by Aswath Damodaran

  • Publisher : John Wiley & Sons
  • Release : 2016-02-08
  • Pages : 696
  • ISBN : 0470049375
  • Language : En, Es, Fr & De
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"Aswath Damodaran is simply the best valuation teacher around. If you are interested in the theory or practice of valuation, you should have Damodaran on Valuation on your bookshelf. You can bet that I do." -- Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management and author of More Than You Know: Finding Financial Wisdom in Unconventional Places In order to be a successful CEO, corporate strategist, or analyst, understanding the valuation process is a necessity. The second edition of Damodaran on Valuation stands out as the most reliable book for answering many of today?s critical valuation questions. Completely revised and updated, this edition is the ideal book on valuation for CEOs and corporate strategists. You'll gain an understanding of the vitality of today?s valuation models and develop the acumen needed for the most complex and subtle valuation scenarios you will face.

Valuation for M&A

Valuation for M&A
Building and Measuring Private Company Value

by Chris M. Mellen,Frank C. Evans

  • Publisher : John Wiley & Sons
  • Release : 2018-05-11
  • Pages : 496
  • ISBN : 1119433835
  • Language : En, Es, Fr & De
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Determine a company's value, what drives it, and how to enhance value during a M&A Valuation for M&A lays out the steps for measuring and managing value creation in non-publicly traded entities, and helps investors, executives, and their advisors determine the optimum strategy to enhance both market value and strategic value and maximize return on investment. As a starting point in planning for a transaction, it is helpful to compute fair market value, which represents a “floor” value for the seller since it by definition represents a value agreed upon by any hypothetical willing and able buyer and seller. But for M&A, it is more important to compute investment value, which is the value of the target company to a strategic buyer (and which can vary with each prospective buyer). Prepare for the sale and acquisition of a firm Identify, quantify, and qualify the synergies that increase value to strategic buyers Get access to new chapters on fairness opinions and professional service firms Find a discussion of Roger Grabowski's writings on cost of capital, cross-border M&A, private cost of capital, intangible capital, and asset vs. stock transactions Inside, all the necessary tools you need to build and measure private company value is just a page away!

Accounting and Valuation Guide: Valuation of Privately-Held-Company Equity Securities Issued as Compensation

Accounting and Valuation Guide: Valuation of Privately-Held-Company Equity Securities Issued as Compensation
A Book

by AICPA

  • Publisher : John Wiley & Sons
  • Release : 2016-10-31
  • Pages : 256
  • ISBN : 1937352226
  • Language : En, Es, Fr & De
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This new Guide has been developed by AICPA staff and the Equity Securities Task Force and is the first in a series of 3 NEW AICPA Accounting Valuation Guides to be released. This long anticipated release reflects best practices developed over the previous decade. Since the issuance of FASB ASC 718 and 505-50 in 2004, valuing stock-based compensation ("cheap stock") has been a significant challenge for private companies. This New Guide has been designed to mitigate those challenges. It brings you practical guidance and illustrations related to accounting, disclosures and valuation of privately held company equity securities issued as compensation. This guide includes: Evaluating private and secondary market transactions — What should companies do when transaction activity doesn't match their estimates of value? Adjustments for control and marketability — How should companies think about the value of the enterprise for the purpose of valuing minority securities? When is it appropriate to apply a discount for lack of marketability, and how should the estimated discount be supported? Highly leveraged entities — How should companies incorporate the fair value of debt in the valuation of equity securities? What is the impact of leverage on the expected volatility of various securities? The relevance of ASC 820 (SFAS 157) to cheap stock issues Updated guidance and illustrations regarding the valuation of, and disclosures related to, privately held company equity securities issued as compensation This Guide also provides expanded and more robust valuation material to reflect advances in the theory and practice of valuation since 2004. This edition includes guidance from FASB ASC 718, 505-50, 820-10 and SSVS 1 which were all issued since the last AICPA guidance dedicated to this issue.

Valuation Handbook - U.S. Guide to Cost of Capital

Valuation Handbook - U.S. Guide to Cost of Capital
A Book

by Roger J. Grabowski,James P. Harrington,Carla Nunes

  • Publisher : John Wiley & Sons
  • Release : 2017-06-09
  • Pages : 268
  • ISBN : 1119446058
  • Language : En, Es, Fr & De
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The Valuation Handbook – U.S. Guide to Cost of Capital, 2011 Essentials Edition includes two sets of valuation data: Data previously published in the 2011 Duff & Phelps Risk Premium Report Data previously published in the Morningstar/Ibbotson 2011 Stocks, Bonds, Bills, and Inflation (SBBI) Valuation Yearbook The Valuation Handbook – 2011 U.S. Essentials Edition includes data through December 31, 2010, and is intended to be used for 2011 valuation dates. The Valuation Handbook – U.S. Guide to Cost of Capital, Essentials Editions are designed to function as historical archives of the two sets of valuation data previously published annually in: The Morningstar/Ibbotson Stocks, Bonds, Bills, and Inflation (SBBI) Valuation Yearbook from 1999 through 2013 The Duff & Phelps Risk Premium Report from 1999 through 2013 The Duff & Phelps Valuation Handbook – U.S. Guide to Cost of Capital from 2014 The Valuation Handbook – U.S. Essentials Editions are ideal for valuation analysts needing "historical" valuation data for use in: The preparation of carve-out historical financial statements, in cases where historical goodwill impairment testing is necessary Valuing legal entities as of vintage date for tax litigation related to a prior corporate restructuring Tax litigation related to historical transfer pricing policies, etc. The Valuation Handbook – U.S. Essentials Editions are also designed to serve the needs of: Corporate finance officers for pricing or evaluating mergers and acquisitions, raising private or public equity, property taxation, and stakeholder disputes Corporate officers for the evaluation of investments for capital budgeting decisions Investment bankers for pricing public offerings, mergers and acquisitions, and private equity financing CPAs who deal with either valuation for financial reporting or client valuations issues Judges and attorneys who deal with valuation issues in mergers and acquisitions, shareholder and partner disputes, damage cases, solvency cases, bankruptcy reorganizations, property taxes, rate setting, transfer pricing, and financial reporting For more information about Duff & Phelps valuation data resources published by Wiley, please visit www.wiley.com/go/valuationhandbooks.

Valuation of the Several Classes of Property of Common Carriers

Valuation of the Several Classes of Property of Common Carriers
Report of the Committee on Interstate Commerce, United States Senate, on H.R. 22593, a Bill to Amend an Act Entitled "An Act to Regulate Commerce" ... and All Acts Amendatory Thereof by Providing for Physical Valuation of the Property of Carriers Subject Thereto and Securing Information Concerning Their Stocks and Bonds and Boards of Directors. With Hearings and Index ...

by United States. Congress. Senate. Committee on interstate commerce

  • Publisher : Unknown Publisher
  • Release : 1913
  • Pages : 246
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Trademark Valuation

Trademark Valuation
A Tool for Brand Management

by Gordon V. Smith,Susan M. Richey

  • Publisher : John Wiley & Sons
  • Release : 2013-11-25
  • Pages : 368
  • ISBN : 1118245261
  • Language : En, Es, Fr & De
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A practical and useful resource for valuing trademarks The Second Edition of Trademark Valuation is a fresh presentation of basic valuation principles, together with important recent changes in worldwide financial reporting regulations and an update on the current worldwide legal conditions and litigation situation as they relate to trademarks. A new section discussing issues surrounding valuation of counterfeits and the economic effects of trademark counterfeiting is included in this informative Second Edition. Considers methods to determine the real value of your trademark and exploit its full potential Offers dozens of case studies that illustrate how to apply valuation methods and strategies to real-world situations Communicates complex legal and financial concepts, terms, principles, and practices in plain English Discusses GATT, NAFTA, emerging markets, and other international trademark considerations