Science Of Valuations
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The Art And Science Of Business Valuation
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Author : Albert Link
language : en
Publisher: Praeger
Release Date : 1999-08-30
The Art And Science Of Business Valuation written by Albert Link and has been published by Praeger this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-08-30 with Business & Economics categories.
An introductory overview of business valuation methods. The authors describe both the scientific methods and the intuitive art of business valuation and are careful to point out the limitations and weaknesses, as well as the strengths, of these tools
Sources Of Value
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Author : Simon Woolley
language : en
Publisher:
Release Date : 2009
Sources Of Value written by Simon Woolley and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Valuation categories.
An experienced senior practitioner shares the secrets of both the science and the art of financial decision making.--Résumé de l'éditeur.
Equity Valuation Science Art Or Craft
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Author : Frank J. Fabozzi
language : en
Publisher: CFA Institute Research Foundation
Release Date : 2017-12-27
Equity Valuation Science Art Or Craft written by Frank J. Fabozzi and has been published by CFA Institute Research Foundation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-27 with Business & Economics categories.
The price at which a stock is traded in the market reflects the ability of the firm to generate cash flow and the risks associated with generating the expected future cash flows. The authors point to the limits of widely used valuation techniques. The most important of these limits is the inability to forecast cash flows and to determine the appropriate discount rate. Another important limit is the inability to determine absolute value. Widely used valuation techniques such as market multiples - the price-to-earnings ratio, firm value multiples or a use of multiple ratios, for example - capture only relative value, that is, the value of a firm's stocks related to the value of comparable firms (assuming that comparable firms can be identified). The study underlines additional problems when it comes to valuing IPOs and private equity: Both are sensitive to the timing of the offer, suffer from information asymmetry, and are more subject to behavioral elements than is the case for shares of listed firms. In the case of IPOs in particular, the authors discuss how communication strategies and media hype play an important role in the IPO valuation/pricing process.
Valuation
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Author : Sheridan Titman
language : en
Publisher:
Release Date : 2007
Valuation written by Sheridan Titman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
Business Valuation
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Author : Greg Shields
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2018-04-29
Business Valuation written by Greg Shields and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-29 with categories.
Say goodbye to scratching your head in confusion This business valuation book could be the answer you're looking for... Whether you're looking to buy or sell a business, to invest in the stock market or become a business angel, or simply to get a better idea of what your business is worth, this book contains the information you need. Each type of valuation method is introduced in turn: assets based, revenue based, earnings and cash flow based, together with discounted cash flow and 'rule of thumb' valuations. This book will show you how to calculate the value of the business. You'll also learn the strengths and weaknesses of each method of valuation; where they're useful and where they are of limited value. Does that sound as if the book is a dry, mathematical text? Far from it. Business Valuation: The Ultimate Guide to Business Valuation for Beginners, Including How to Value a Business Through Financial Valuation Methods contains real examples and talks about the 'art' as well as the 'science' of valuation. You'll also get a chapter that is focused on due diligence ('kicking the tyres'). Once you've read this book you should have a good handle on how to value a business. Maybe you won't be a highly paid McKinsey consultant, but you'll have what it takes to know what a business is worth, and you'll have enough smarts to avoid the obvious traps and pitfalls, such as 'dressing up' profits. That can make the difference between selling your business at a price that funds your retirement, and coming up short - or the difference between buying a great business at a good price, or paying over the odds for a moribund company. Here are just some of the topics that are discussed in this book: Why you might need a business valuation The basic concepts behind business valuation Profit based approaches Revenues based approaches Asset based approaches Discounted cash flow Sector-specific approaches And Much, Much More So, what are you waiting for? Start your learning now by getting this magnificent book!
Valuation
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Author : Seth Bernstrom
language : en
Publisher: John Wiley & Sons
Release Date : 2014-06-09
Valuation written by Seth Bernstrom 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 2014-06-09 with Business & Economics categories.
The market approach aims to establish the value of a company based on how similar firms are priced on the stock exchange or through company transactions. Using the market approach, price-related indicators such as price to earnings, sales and book values are utilised. An ever-present problem however, is that different valuation multiples and valuation methodologies tend to provide the analyst with contradictory outputs. The solution to this problem so far has been to claim that the market approach is more art than science, thus providing the analyst with the freedom to alter the multiples at their own discretion to reach a uniform value or range. Valuation: The Market Approach puts an end to this problem, providing the reader with a rational scientific-based understanding and the necessary tools to perform a sound market approach valuation, or if reviewing such valuations, provide the tools to challenge the work of the arts-based senior experts. The book begins with an in-depth review of the basics; which is then applied in a detailed worked example. Step-by-step, the reader’s expertise is built towards a complete understanding and implementation of the market approach, not only on a standalone basis but also in relation to the DCF methodology. The book is aimed at the seasoned professional, but will also be invaluable to students as they apply their academic knowledge to the real world of valuation and M&A. About the author: SETH BERNSTROM is a Director at the Valuations practice of PwC. He has 15 years of experience as a valuation expert with a special focus on private equity, with long-running engagements in Valuation for some of the leading Nordic private equity houses. Additionally, he provides valuation support and valuation-related advisory services to large and medium-sized Nordic and (Nordic-based) global companies. In addition to his regular work at PwC, he also acts as Visiting Lecturer on valuation at KTH Royal Institute of Technology in Stockholm. Furthermore, he often gives lectures and seminars on valuation at other leading Nordic universities, investment banks, companies, and organizations. He holds a Master of Science in Business Administration and Economics from the Stockholm University School of Business.
Valuation For Mergers And Acquisitions
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Author : Barbara S. Petitt
language : en
Publisher: FT Press
Release Date : 2013-06-27
Valuation For Mergers And Acquisitions written by Barbara S. Petitt and has been published by FT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-27 with Business & Economics categories.
Master the latest insights, lessons, and best practice techniques for accurately valuing companies for potential mergers, acquisitions, and restructurings. Concise, realistic, and easy to use, Valuation for Mergers and Acquisitions, Second Edition has been fully updated to reflect the field's latest and most useful "rules of thumb," compare every modern approach to valuation, offering practical solutions for today's most complex and important valuation challenges. Treating valuation as both an art and a science, it covers the entire process, offering up-to-the-minute real-world advice, examples, and case studies. Leading valuation experts Barbara S. Petitt and Kenneth R. Ferris introduce and compare leading techniques including discounted cash flow analysis, earnings multiples analysis, adjusted present value analysis, economic value analysis, and real option analysis. They fully address related concerns such as the accounting structure of deals, accounting for goodwill, tax considerations, and more. Throughout, they identify common errors that lead to inaccurate valuation, and show how to avoid them. From start to finish, this guide doesn't just make valuation comprehensible: it provides the tools and insight to make valuation work. For all financial professionals concerned with valuation, especially those involved in potential mergers, acquisitions, and restructurings; and for corporate finance instructors and students in Executive MBA programs concerned with valuation.
Equity Valuation Science Art Or Craft
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Author : Frank J. Fabozzi
language : en
Publisher:
Release Date : 2019
Equity Valuation Science Art Or Craft written by Frank J. Fabozzi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
The price at which a stock is traded in the market reflects the ability of the firm to generate cash flow and the risks associated with generating the expected future cash flows. The authors point to the limits of widely used valuation techniques. The most important of these limits is the inability to forecast cash flows and to determine the appropriate discount rate. Another important limit is the inability to determine absolute value. Widely used valuation techniques such as market multiples - the price-to-earnings ratio, firm value multiples or a use of multiple ratios, for example - capture only relative value, that is, the value of a firm's stocks related to the value of comparable firms (assuming that comparable firms can be identified). The study underlines additional problems when it comes to valuing IPOs and private equity: Both are sensitive to the timing of the offer, suffer from information asymmetry, and are more subject to behavioral elements than is the case for shares of listed firms. In the case of IPOs in particular, the authors discuss how communication strategies and media hype play an important role in the IPO valuation/pricing process.
Valuation
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Author : Rajesh Kumar
language : en
Publisher: Academic Press
Release Date : 2015-11-05
Valuation written by Rajesh Kumar and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-05 with Business & Economics categories.
Valuation: Theories and Concepts provides an understanding on how to value companies that employ non-standard accounting procedures, particularly companies in emerging markets and those that require a wider variety of options than standard texts provide. The book offers a broader, more holistic perspective that is perfectly suited to companies and worldwide markets. By emphasizing cases on valuation, including mergers and acquisition valuation, it responds to the growing expectation that students and professionals must generate comprehensive perspectives based on thorough investigations and a library of valuation theories. Readers will gain a better understanding of the development of complete analyses, including trend analysis of financial parameters, ratio analysis, and differing perspectives on valuation and strategic initiatives. Case studies include stock market performance and synergies and the intrinsic value of the firm are compared with offer price. In addition, full data sets for each chapter are available online. Provides an understanding on how to value companies that employ non-standard accounting procedures, particularly companies in emerging markets Gives readers the ability to compare the intrinsic value of the firm with the offer price Showcases a variety of valuation techniques and provides details about handling each part of the valuation process Each case has data in excel spreadsheets for all companies, and data sets for each chapter are available online
Property Valuation
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Author : Douglas Scarrett
language : en
Publisher: Routledge
Release Date : 2014-06-27
Property Valuation written by Douglas Scarrett and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-27 with Business & Economics categories.
The third edition of Property Valuation: The Five Methods introduces students to the fundamental principles of property valuation theory by means of clear explanation and worked examples. An ideal text for those new to the subject, the book provides 1st year undergraduate students with a working knowledge and understanding of the five methods of valuation and the ways in which they are interlinked. In this fully revised edition, the new author team have: restructured the chapters to ensure a more logical order outlined the economic theory of value and the rules and constraints under which a valuer works provided detailed consideration of each of the five recognised approaches placed a larger emphasis on the Discounted Cash Flow approach These revisions are all written in the concise and accessible style which has made previous editions of the book so successful. The new edition of this textbook will be essential reading for undergraduates on all property, real estate, planning and built environment courses.