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Equity Valuation Science, Art, Or Craft?

2019
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Release : 2019
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Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Equity Valuation Science, Art, Or Craft? by : Frank J. Fabozzi

Download or read book Equity Valuation Science, Art, Or Craft? written by Frank J. Fabozzi. This book was released on 2019. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Equity Valuation

2017
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Author :
Release : 2017
Genre :
Kind : eBook
Book Rating : 339/5 ( reviews)

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Book Synopsis Equity Valuation by : Fabozzi

Download or read book Equity Valuation written by Fabozzi. This book was released on 2017. Available in PDF, EPUB and Kindle. Book excerpt:

Equity Valuation: Science, Art, or Craft?

2017-12-27 Business & Economics
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Release : 2017-12-27
Genre : Business & Economics
Kind : eBook
Book Rating : 341/5 ( reviews)

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Book Synopsis Equity Valuation: Science, Art, or Craft? by : Frank J. Fabozzi

Download or read book Equity Valuation: Science, Art, or Craft? written by Frank J. Fabozzi. This book was released on 2017-12-27. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Corporate Valuation

2023-08-04 Business & Economics
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Release : 2023-08-04
Genre : Business & Economics
Kind : eBook
Book Rating : 671/5 ( reviews)

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Book Synopsis Corporate Valuation by : Benedicto Kulwizira Lukanima

Download or read book Corporate Valuation written by Benedicto Kulwizira Lukanima. This book was released on 2023-08-04. Available in PDF, EPUB and Kindle. Book excerpt: This book provides students with basic knowledge and advance skills for addressing practical challenges in valuation. First, the book presents financial information as a vital ingredient for performing corporate valuation. Second, the book presents key concepts of value and valuation and basic techniques for cash flow discounting. Third, the book offers an understanding of the reality of valuation, not simply as a numerical subject, as most people tend to think, but as a combination of objective and subjective aspects. Finally, it examines valuation in relation to the linkage between a firm’s objective, management role in value creation, investors’ decisions, and the valuation role of financial information. This book is designed and presented to make valuation easily accessible while also not diluting the nature of its complexity. To assist in the learning experience, the author provides illustrative case studies using real world data and review questions to cover all concepts. To assist professors, slides, Microsoft Excel illustrations, working data and sample syllabi are available online for download.

The Private Equity Toolkit

2022-06-08 Business & Economics
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Release : 2022-06-08
Genre : Business & Economics
Kind : eBook
Book Rating : 107/5 ( reviews)

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Book Synopsis The Private Equity Toolkit by : Tamara Sakovska

Download or read book The Private Equity Toolkit written by Tamara Sakovska. This book was released on 2022-06-08. Available in PDF, EPUB and Kindle. Book excerpt: Master the navigation of private equity deals from sourcing to exit with this comprehensive guide The Private Equity Toolkit: A Step-by-Step Guide to Getting Deals Done from Sourcing to Exit offers readers the first complete guide to executing a private equity deal from start to finish. Written by an accomplished professional with twenty years of experience in the private equity space, this book is perfect for current private equity analysts and associates, as well as business students and professionals seeking to enter the private equity field. This book covers every stage of the private equity process, from sourcing the deal to company exit. It provides a systematic overview of how to: · Originate attractive investment opportunities; · Generate superior deal insights; · Form effective working relationships with management teams; · Add value on portfolio company boards; and · Achieve profitable investment exits. The Private Equity Toolkit equips its readers with actionable frameworks and proprietary tools that can be applied on a daily basis in the private equity industry. The content found within is designed to be current and helpful for years to come and appeals to a global audience.

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