Verfügbarkeit: Company valuation and growth

Company valuation and growth: theory, empirical evidence and practical implementation issues

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Bibliographische Detailangaben
1. Verfasser:	Sievers, Sönke (VerfasserIn)
Format:	Abschlussarbeit Buch
Sprache:	English
Veröffentlicht:	Münster Verl.-Haus Monsenstein und Vannerdat 2013
Ausgabe:	2. ed.
Schriftenreihe:	MV-Wissenschaft
Schlagworte:	Return on Investment Steuervergünstigung Unternehmensbewertung Investition Unternehmenswachstum Hochschulschrift
Online-Zugang:	Inhaltsverzeichnis
Beschreibung:	XXI, 171 S. graph. Darst.
ISBN:	9783865829252

Internformat

MARC


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Datensatz im Suchindex

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adam_text	COMPANY VALUATION AND GROWTH VII CONTENTS LIST OF TABLES IX LIST OF FIGURES X LIST OF SYMBOLS AND ABBREVIATIONS XI 1 INTRODUCTION 1 2 COMPANY VALUATION, RISK-SHARING AND THE GOVERNMENT COST OF CAPITAL 7 2.1. INTRODUCTION 7 2.2. COMPANY VALUATION INCORPORATING THE GOVERNMENT CLAIM 9 2.3. THE FIRM S BEFORE-TAX VALUE AND COST OF CAPITAL 16 2.4. THE GOVERNMENT COST OF CAPITAL 18 2.5. THE VALUE OF TAX PAYMENTS 26 2.6. CONFLICT OF INTEREST ARISING FROM CAPITAL BUDGETING: CORPORATE UNDER- AND OVERINVESTMENT 29 2.7. CONCLUSION 43 3 EXTENDED DIVIDEND, CASH FLOW AND RESIDUAL INCOME VALUATION MODELS: ACCOUNTING FOR DEVIATIONS FROM IDEAL CONDITIONS 45 3.1. INTRODUCTION 45 3.2. RELATED LITERATURE 48 3.3. VALUATION METHODS 52 3.3.1. VALUATION METHODS UNDER IDEAL CONDITIONS 52 3.3.2. EXTENDED VALUATION METHODS UNDER NON-IDEAL CONDITIONS 54 3.3.3. SPECIAL CASES OF THE EXTENDED VALUATION METHODS: THE STANDARD MODELS 64 3.4. EMPIRICAL ANALYSIS 67 3.4.1. RESEARCH DESIGN AND DATA DESCRIPTION 67 3.4.2. EMPIRICAL RESULTS 73 3.5. CONCLUSION 83 4 VALUING HIGH TECHNOLOGY GROWTH FIRMS: AN IMPLEMENTATION AND EXTENSION OF THE SCHWARTZ-MOON MODEL 85 4.1. INTRODUCTION 85 4.2. SPECIFIC VALUATION CHARACTERISTICS OF GROWTH STOCKS 89 4.3. VALUATION MODELS 90 4.3.1. FUNDAMENTAL PRICING: THE BASIC SCHWARTZ-MOON MODEL 90 4.3.2. RELATIVE PRICING: THE ENTERPRISE-VALUE-SALES MULTIPLE 96 HTTP://D-NB.INFO/1043076417 VIII COMPANY VALUATION AND GROWTH 4.3.3. MARKET MOOD-ADJUSTED FUNDAMENTAL PRICING: THE SCHWARTZ- MOON MODEL EXTENSION 97 4.4. DATA AND METHODOLOGY 100 4.4.1. DATA COLLECTION 100 4.4.2. MODEL IMPLEMENTATION 100 4.4.3. SUMMARY STATISTICS 104 4.5. RESULTS 107 4.6. DEFAULT RATES 114 4.7. CONCLUSION 123 5 SUMMARY AND CONCLUSIONS 125 APPENDICES 129 APPENDIX TO SECTION 2 129 APPENDIX 2.1 RISK SHARING IN A GROWING FIRM WITH FIXED DEBT 129 APPENDIX 2.2 VALUATION EXAMPLES 131 APPENDIX TO SECTION 3 135 APPENDIX 3.1 STATISTICS ON DIRTY SURPLUS 135 APPENDIX 3.2 DERIVATION OF THE DCF MODEL FOR A COMPANY WITH AN INFINITE LIFE SPAN 136 APPENDIX 3.3 DERIVATION OF THE WACC MODEL FOR A COMPANY WITH AN INFINITE LIFE SPAN 137 APPENDIX 3.4 VALUING THE 3M CORPORATION 138 APPENDIX 3.5 VARIABLE DEFINITIONS FOR THE DDM, THE RIM AND THE DCF MODEL 141 APPENDIX TO SECTION 4 143 APPENDIX 4.1 EXAMPLE OF THE SCHWARTZ-MOON MARKET MOOD-ADJUSTED VALUATION 143 APPENDIX 4.2 TECHNICAL APPENDIX ON STOCHASTIC OPTIMIZATION 146 APPENDIX 4.3 VARIABLE DEFINITIONS AND DATA SOURCES FOR THE SCHWARTZ- MOON MODEL 149 APPENDIX 4.4 SAMPLE SELECTION FOR THE SCHWARTZ-MOON MODEL 153
any_adam_object	1
author	Sievers, Sönke
author_facet	Sievers, Sönke
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author_sort	Sievers, Sönke
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ctrlnum	(OCoLC)915652420 (DE-599)DNB1043076417
dewey-full	658.15
dewey-hundreds	600 - Technology (Applied sciences)
dewey-ones	658 - General management
dewey-raw	658.15
dewey-search	658.15
dewey-sort	3658.15
dewey-tens	650 - Management and auxiliary services
discipline	Wirtschaftswissenschaften
edition	2. ed.
format	Thesis Book
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spelling	Sievers, Sönke Verfasser aut Company valuation and growth theory, empirical evidence and practical implementation issues vorgelegt von Sönke Sievers 2. ed. Münster Verl.-Haus Monsenstein und Vannerdat 2013 XXI, 171 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier MV-Wissenschaft Zugl. überarb. Fassung von: Köln, Univ., Diss., 2009 Return on Investment (DE-588)4049628-4 gnd rswk-swf Steuervergünstigung (DE-588)4057476-3 gnd rswk-swf Unternehmensbewertung (DE-588)4078594-4 gnd rswk-swf Investition (DE-588)4027556-5 gnd rswk-swf Unternehmenswachstum (DE-588)4078620-1 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Unternehmensbewertung (DE-588)4078594-4 s Unternehmenswachstum (DE-588)4078620-1 s Return on Investment (DE-588)4049628-4 s DE-604 Investition (DE-588)4027556-5 s Steuervergünstigung (DE-588)4057476-3 s DNB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027965028&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis
spellingShingle	Sievers, Sönke Company valuation and growth theory, empirical evidence and practical implementation issues Return on Investment (DE-588)4049628-4 gnd Steuervergünstigung (DE-588)4057476-3 gnd Unternehmensbewertung (DE-588)4078594-4 gnd Investition (DE-588)4027556-5 gnd Unternehmenswachstum (DE-588)4078620-1 gnd
subject_GND	(DE-588)4049628-4 (DE-588)4057476-3 (DE-588)4078594-4 (DE-588)4027556-5 (DE-588)4078620-1 (DE-588)4113937-9
title	Company valuation and growth theory, empirical evidence and practical implementation issues
title_auth	Company valuation and growth theory, empirical evidence and practical implementation issues
title_exact_search	Company valuation and growth theory, empirical evidence and practical implementation issues
title_full	Company valuation and growth theory, empirical evidence and practical implementation issues vorgelegt von Sönke Sievers
title_fullStr	Company valuation and growth theory, empirical evidence and practical implementation issues vorgelegt von Sönke Sievers
title_full_unstemmed	Company valuation and growth theory, empirical evidence and practical implementation issues vorgelegt von Sönke Sievers
title_short	Company valuation and growth
title_sort	company valuation and growth theory empirical evidence and practical implementation issues
title_sub	theory, empirical evidence and practical implementation issues
topic	Return on Investment (DE-588)4049628-4 gnd Steuervergünstigung (DE-588)4057476-3 gnd Unternehmensbewertung (DE-588)4078594-4 gnd Investition (DE-588)4027556-5 gnd Unternehmenswachstum (DE-588)4078620-1 gnd
topic_facet	Return on Investment Steuervergünstigung Unternehmensbewertung Investition Unternehmenswachstum Hochschulschrift
url	http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027965028&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA
work_keys_str_mv	AT sieverssonke companyvaluationandgrowththeoryempiricalevidenceandpracticalimplementationissues

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