Intangible Assets In Business Valuation With Emphasis On Real Options Approach
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Intangible Assets In Business Valuation With Emphasis On Real Options Approach
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Author : Selcuk Kocak
language : en
Publisher: GRIN Verlag
Release Date : 2008-07-29
Intangible Assets In Business Valuation With Emphasis On Real Options Approach written by Selcuk Kocak and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-07-29 with Business & Economics categories.
Master's Thesis from the year 2005 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: B, University of Applied Sciences Berlin, 26 entries in the bibliography, language: English, abstract: The change in the economy in the 20th century is more towards an economy based on ideas, away from the matter based economy of earlier times. The emphasis has shifted from natural resources to thought, ideas, design and organization11 Services replaced the importance of manufacturing. Contractor 2001, names this overall change as a de-materialization of the economy and quantifies the significance of the change by pointing out that by the end of the twentieth century 79 percent of jobs and 76 percent of the GNP in the United States were in the service sector. This change wasn't visible only in the US. European and Emerging nations did also portray similar trends. In 1969 Tobin introduced a new ratio called Tobin's q Ratio12, which have been a great influence on the valuation/measure of intangible components of enterprises. Having a look at the example of Microsoft's ratio between its market value and its book value, which in 1999 25 to 1 was, reveals the fact that most of the value is in the form of knowledge capital, in its employees, organization, patents, copyrights, brand value, etc. This ratio is bound to increase as the importance of intangible assets rises over the course of years. Though this increase is certain and expected, the valuation of these assets is still not clarified nor agreed upon. The value of the intangible assets is of importance to different audiences such as academicians, scholars, accountants, consultants, etc. and they haven't been able to come up with one single approach to solving the problem. This thesis will focus on a particular subset of intangible assets, namely patents, and demonstrate how to value them.
Guide To Intangible Asset Valuation
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Author : Robert F. Reilly
language : en
Publisher: John Wiley & Sons
Release Date : 2016-11-07
Guide To Intangible Asset Valuation written by Robert F. Reilly and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-07 with Business & Economics categories.
The highly experienced authors of the Guide to Intangible Asset Valuation define and explain the disciplined process of identifying assets that have clear economic benefit, and provide an invaluable framework within which to value these assets. With clarity and precision the authors lay out the critical process that leads you through the description, identification and valuation of intangible assets. This book helps you: Describe the basic types of intangible assets Find and identify intangible assets Provide guidelines for valuing those assets The Guide to Intangible Asset Valuation delivers matchless knowledge to intellectual property experts in law, accounting, and economics. This indispensable reference focuses strictly on intangible assets which are of particular interest to valuation professionals, bankruptcy experts and litigation lawyers. Through illustrative examples and clear modeling, this book makes abstract concepts come to life to help you deliver strong and accurate valuations.
Valuation Of Intangible Assets In Global Operations
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Author : Farok J. Contractor
language : en
Publisher: Bloomsbury Publishing USA
Release Date : 2001-03-30
Valuation Of Intangible Assets In Global Operations written by Farok J. Contractor and has been published by Bloomsbury Publishing USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-03-30 with Business & Economics categories.
The valuation of intangible assets has become a central issue in the practice of management. When companies undertake alliances or licensing agreements, effect mergers, sell or purchase brands, or evaluate R&D projects, a key issue is how each party puts a financial value on the intangible contribution. Valuations also have a tax implication, particularly in transnational operations. The contributors, including academics from five nations and expert practitioners from leading accounting and consulting companies, cover intellectual property strategy of global firms, valuation of human capital, and valuation techniques for the transfer or sale of brands, licenses, and other intangible assets. In addition, the contributors address the special needs of the software and pharmaceutical sectors in separate chapters. This book includes tools, metrics, and models that are of interest to academics as well as global executives. Recommended for valuation experts, scholars, international tax specialists, executives (especially those involved in alliance negotiations, brand equity, mergers and acquisitions, divestitures, and intellectual property management), and officials in such supranational institutions as the EU, OECD, UNCTAD, WTO, IMF, and World Bank.
Financial Valuation
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Author : James R. Hitchner
language : en
Publisher: John Wiley & Sons
Release Date : 2017-04-28
Financial Valuation written by James R. Hitchner and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-28 with Business & Economics categories.
A practically-focused resource for business valuation professionals Financial Valuation: Applications and Models provides authoritative reference and practical guidance on the appropriate, defensible way to prepare and present business valuations. With contributions by 30 top experts in the field, this new fourth edition provides an essential resource for those seeking the most up-to-date guidance, with a strong emphasis on applications and models. Coverage includes state-of-the-art methods for the valuation of closely-held businesses, nonpublic entities, intangible, and other assets, with comprehensive discussion on valuation theory, a consensus view on application, and the tools to make it happen. Packed with examples, checklists, and models to help you navigate your valuation project, this book also provides hundreds of expert "tips" and best practices in clear, easy-to-follow language. The companion website provides access to extensive appendix materials, and the perspectives of valuation thought-leaders add critical insight throughout each step of the process. Valuation is an important part of any organization's overall financial strategy, and seemingly-small inaccuracies or incomplete assessments can have big repercussions. This book walks you through the valuation process to give you the skills and understanding you need to get it done right. Learn best practices from 30 field-leading experts Follow clear examples for complex or unfamiliar scenarios Access practical tools that streamline the valuation process Understand valuation models and real-world applications The business valuation process can become very complex very quickly, and there's no substitute for clear guidance and a delineated framework in the run-up to completion. Get organized from the beginning, and be systematic and methodical every step of the way. Financial Valuation: Applications and Models is the all-encompassing, expert guide to business valuation projects.
Valuing Intangible Assets
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Author : Robert F. Reilly
language : en
Publisher: McGraw Hill Professional
Release Date : 1998-09-22
Valuing Intangible Assets written by Robert F. Reilly and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-09-22 with Business & Economics categories.
When partnerships change hands, the valuation of intangible assets can be a financial maze. This in-depth book, working through each of the basic valuation approaches: cost, market, and income, provides professionals with complete guidelines and industry standards. It's a must-have for financial analysts and attorneys!
Valuation For M A
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Author : Chris M. Mellen
language : en
Publisher: John Wiley & Sons
Release Date : 2010-05-11
Valuation For M A written by Chris M. Mellen and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-05-11 with Business & Economics categories.
Discover the tools necessary to determine what your company's value is, what drives its value, and how to enhance that value during an M&A transaction. The only book to focus on valuation specifically for mergers and acquisitions, Valuation For M&A: Building Value in Private Companies, Second Edition lays out the steps for measuring and managing value creation in privately held businesses. This groundbreaking work led directly to authors Chris M. Mellen and Franck C. Evans being named the joint 2010 AM&AA Middle Market Thought Leader of the Year by the Alliance of Merger & Acquisition Advisors, and its thorough overview of the subject: Recognizes a company as an investment and explains how to manage that value to maximize shareholder returns, focusing on returns, risks, and capital invested Explains investment or strategic value versus fair market value and provides a document request checklist; sample interview questions; and formats for adjusting financial statements, developing discount rates, the computation of net cash flow; and a valuation reconciliation form Includes a comprehensive case study to illustrate concepts and calculations Now covers fair value accounting and the impact of SFAS Nos. 141, 142, and 157 and their IFRS counterparts, intangible asset valuation techniques, exit planning, international M&As, and venture backed/early stage companies Showing corporate executives as well as M&A professionals and business appraisers how to value privately-held businesses for merger and acquisition purposes, this book helps investors, executives, and their advisors determine the optimum strategy to enhance both market value and strategic value to maximize return on investment.
Intangible Assets
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Author : Jeffrey A. Cohen
language : en
Publisher: John Wiley & Sons
Release Date : 2011-07-20
Intangible Assets written by Jeffrey A. Cohen and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-20 with Business & Economics categories.
Praise for Intangible Assets "In Intangible Assets, Jeffrey Cohen presents an informative, thought-provoking and practical look at an increasingly important component of every business's worth. He describes the art and science of identifying assets that have clear economic benefit, but are typically not found on the balance sheet, and he provides an invaluable framework within which the reader can value these assets, despite their elusive nature." --Rick Westervelt, President, Skylist, Inc. "Jeffrey Cohen's integrative approach to conceptual issues of intangible assets is creative and a refreshing contribution. He brings law, economics, finance, and accounting to the same table, which results in a comprehensive framework for understanding how value is created and sustained. His construct of 'proto-assets' and 'portfolio of intangible economic benefits' is key. Written in an easy-to-read style with many practical examples, this book will be useful for both novice and experienced professionals." --W. Dana Northcut, PhD, Adjunct Associate Professor of Accounting Graduate School of Business, University of Chicago Principal, Chicago Partners, LLC "This volume is the perfect resource for newcomers to IP valuation. Through lucid explanations and well-chosen illustrations, it does for the reader exactly what a valuation expert should do for a client--it makes the abstract concrete. But this volume is not just for the novice; it holds insights that will be useful to IP experts in law, accounting, and economics." --Edward F. Malone, Partner, Jenner & Block LLP
The Value Of Nothing
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Author : Julian Roche
language : en
Publisher: Global Professional Publishi
Release Date : 2005
The Value Of Nothing written by Julian Roche and has been published by Global Professional Publishi this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
* Detailed, easy-to-understand explanations and evaluations of every method* Pulls no punches on strengths and weaknesses of each* Every method is related to the real world* Shows in detail how to use each method without shirking on the theoryManagers, consultants, and students will learn how to master advanced business valuation--understanding ......
Investment Valuation
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Author : Aswath Damodaran
language : en
Publisher: John Wiley & Sons
Release Date : 2012-03-16
Investment Valuation written by Aswath Damodaran and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-16 with Business & Economics categories.
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.
Real Option Approach To Business Valuation
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Author : Patrick Lommertin
language : en
Publisher: GRIN Verlag
Release Date : 2019-02-01
Real Option Approach To Business Valuation written by Patrick Lommertin and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-01 with Business & Economics categories.
Seminar paper from the year 2013 in the subject Business economics - Business Management, Corporate Governance, grade: 1,6, University of Applied Sciences Essen, language: English, abstract: There are various events to which a company valuation must be created. For the valuation of companies, various valuation methods are available. Most of these approaches are static calculation methods such as the discounted cash flow method. This method is one of the static corporate policies. The response to newly acquired information can not be taken into account and therefore lead to lower ratings from this approach and all other static approaches. This is especially true for young, innovative and dynamic company. To better match the DCF method to the uncertain development of the future, various scenarios can be simulated with different parameters. Nevertheless, there is a reporting date and the mutual influence of the variables can not be adequately represented. The real options approach, which was originally used only for the investment calculation can, also be applied to companies because the company valuation represents a special case of investment analysis. In the boom times of the new economy around the turn of the century was said to have the ROA that it would be a concept that justifies artificial-ly increased corporate values. For this period, the most of literature that deals with the real options approach comes from. With the ROA no independent valuation method is presented, but an extension of the familiar discounted cash flow method. The crux of the extension is the evaluation of action flexibilities in the otherwise static method. The aim of this study is to investigate the real options approach for its suitability as a business valuation method and to identify its strengths and weaknesses.