Business valuation: functions, methods, principles
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
München
UVK Verlag
[2021]
|
| Series: | utb Finance
5520 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XXX, 368 Seiten Illustrationen, Diagramme, Tabellen |
| ISBN: | 3825255204 9783825255206 |
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MARC
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| 100 | 1 | |a Matschke, Manfred Jürgen |d 1943- |e Verfasser |0 (DE-588)108493938 |4 aut | |
| 245 | 1 | 0 | |a Business valuation |b functions, methods, principles |c Manfred Jürgen Matschke, Gerrit Brösel |
| 264 | 1 | |a München |b UVK Verlag |c [2021] | |
| 300 | |a XXX, 368 Seiten |b Illustrationen, Diagramme, Tabellen | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 0 | |a utb |v 5520 |a Finance | |
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| 653 | |a 1050: Einführungen und Grundlegungen | ||
| 653 | |a 1550: Grundlagen (Bachelor) | ||
| 653 | |a 1600: Vertiefung (Master) | ||
| 653 | |a 1650: Berufspraxis | ||
| 653 | |a 2060: Betriebswirtschaftslehre | ||
| 653 | |a 2065: Finanzierung | ||
| 653 | |a Akquisition | ||
| 653 | |a Marktpreis | ||
| 653 | |a Unternehmensbewertung | ||
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| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |z 9783838555201 |
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Record in the Search Index
| DE-BY-862_location | 2000 |
|---|---|
| DE-BY-FWS_call_number | 2000/QP 770 M434 |
| DE-BY-FWS_katkey | 922390 |
| DE-BY-FWS_media_number | 083000522297 |
| _version_ | 1824553993091678208 |
| adam_text | CONTENT
OVERVIEW
PAGE
PREFACE
V
CONTENTS
IX
LIST
OF
FIGURES
XV
LIST
OF
SYMBOLS
XXI
1
FUNDAMENTALS
OF
BUSINESS
VALUATION
1
1.1
BASIC
TERMINOLOGY
3
1.2
CONCEPTS
OF
BUSINESS
VALUATION
11
1.3
OCCASIONS
OF
BUSINESS
VALUATION
37
1.4
MATRIX
OF
FUNCTIONAL
BUSINESS
VALUATION
AND
OVERVIEW
OF
METHODS
OF
BUSINESS
VALUATION
46
1.5
SELECTED
CONTROL
QUESTIONS
52
2
DECISION
FUNCTION
AND
DECISION
VALUE
53
2.1
BASICS
55
2.2
DETERMINATION
OF
MULTI-DIMENSIONAL
DECISION
VALUES
60
2.3
DETERMINATION
OF
ONE-DIMENSIONAL
DECISION
VALUES
IN
NON-DOMINATED,
DISJOINT
CONFLICT
SITUATIONS
OF
THE
ACQUISITION/SALE
TYPE
70
2.4
SELECTED
PROBLEMS
OF
DECISION
VALUE
DETERMINATION
159
2.5
SELECTED
CONTROL
QUESTIONS
210
3
MEDIATION
FUNCTION
AND
ARBITRATION
VALUE
213
3.1
BASICS
215
3.2
VALUE
DETERMINATION
IN
NON-DOMINATED
CONFLICT
SITUATIONS
218
3.3
VALUE
DETERMINATION
IN
DOMINATED
CONFLICT
SITUATIONS
255
3.4
SELECTED
CONTROL
QUESTIONS
257
4
ARGUMENTATION
FUNCTION
AND
ARGUMENTATION
VALUE
259
4.1
BASICS
261
4.2
VALUE
DETERMINATION
270
4.3
SELECTED
CONTROL
QUESTIONS
325
5
PRINCIPLES
OF
BUSINESS
VALUATION
329
5.1
PRINCIPLES
OF
BUSINESS
VALUATION
AS
A
NORM
SYSTEM
331
5.2
PRINCIPLES
OF
FUNCTIONAL
BUSINESS
VALUATION
338
5.3
SELECTED
CONTROL
QUESTIONS
344
REFERENCES
345
ABOUT
THE
AUTHORS
365
INDEX
367
CONTENTS
PAGE
PREFACE
V
CONTENT
OVERVIEW
VII
LIST
OF
FIGURES
XV
LIST
OF
SYMBOLS
XXI
1
FUNDAMENTALS
OF
BUSINESS
VALUATION
1
1.1
BASIC
TERMINOLOGY
3
1.2
CONCEPTS
OF
BUSINESS
VALUATION
11
1.2.1
FUNCTIONAL
BUSINESS
VALUATION
THEORY
VIA
THE
GERMAN
SCHOOL
11
1.2.2
NEOCLASSICAL
BUSINESS
VALUATION
THEORY
VIA
THE
ANGLO-SAXON
SCHOOL
16
1.3
OCCASIONS
OF
BUSINESS
VALUATION
37
1.3.1
REQUIREMENT
TO
SYSTEMATIZE
OCCASIONS
OF
BUSINESS
VALUATION
37
1.3.2
SYSTEMATIZATION
OF
OCCASIONS
OF
BUSINESS
VALUATION
ACCORDING
TO
THE
MAIN
FUNCTIONS
39
1.3.2.1
CONFLICT
SITUATIONS
OF
THE
ACQUISITION/SALE
TYPE
AND
OF
THE
MERGER/DEMERGER
TYPE
39
1.3.2.2
NON-DOMINATED
AND
DOMINATED
CONFLICT
SITUATIONS
41
1.3.2.3
DISJOINT
AND
JOINT
CONFLICT
SITUATIONS
41
1.3.2.4
ONE-DIMENSIONAL
AND
MULTI-DIMENSIONAL
CONFLICT
SITUATIONS
42
1.4
MATRIX
OF
FUNCTIONAL
BUSINESS
VALUATION
AND
OVERVIEW
OF
METHODS
OF
BUSINESS
VALUATION
46
1.4.1
MATRIX
OF
FUNCTIONAL
BUSINESS
VALUATION
46
1.4.2
OVERVIEW
OF
METHODS
OF
BUSINESS
VALUATION
48
1.5
SELECTED
CONTROL
QUESTIONS
52
2
DECISION
FUNCTION
AND
DECISION
VALUE
53
2.1
BASICS
55
2.2
DETERMINATION
OF
MULTI-DIMENSIONAL
DECISION
VALUES
60
2.2.1
UTILITY
VALUES
AS
BASICS
FOR
DECISION
VALUE
DETERMINATION
60
2.2.1.1
THE
TERM
UTILITY
VALUE
60
X
CONTENTS
2.2.1.2
TARGET
PLAN
AND
DECISION
FIELD
AS
PARAMETERS
OF
THE
UTILITY
VALUE
60
2.2.2
A
GENERAL
MODEL
FOR
THE
DETERMINATION
OF
A
MULTI-DIMENSIONAL
DECISION
VALUE
65
2.2.2.1
DETERMINATION
OF
DECISION
VALUES
AS
A
TWO-STEP
CALCULATION
65
2.2.2.2
DETERMINATION
OF
THE
BASE
PROGRAM
65
2.2.23
DETERMINATION
OF
THE
VALUATION
PROGRAM
66
2.2.2.4
MULTI-DIMENSIONAL
DECISION
VALUE
67
2.2.2.5
SET
OF
THE
ACCEPTABLE
CONFLICT
RESOLUTIONS
69
2.2.2.6
SET
OF
AGREEMENT
RESOLUTIONS
69
2.3
DETERMINATION
OF
ONE-DIMENSIONAL
DECISION
VALUES
IN
NON-DOMINATED,
DISJOINT
CONFLICT
SITUATIONS
OF
THE
ACQUISITION/SALE
TYPE
70
2.3.1
EXAMINATION
STEPS
ON
THE
MATRIX
OF
FUNCTIONAL
BUSINESS
VALUATION
70
23.1.1
OVERVIEW
70
23.1.2
THE
STEPS
IN
DETAIL
71
23.1.2.1
FIRST
STEP
71
23.1.2.2
SECOND
STEP
75
2.3.1.23
THIRD
STEP
77
2.3.2
CHARACTERIZING
THE
CONFLICT
SITUATION
79
2.3.3
VALUATION
METHODS
82
2.33.1
BASIC
MODELS
OF
MARGINAL
PRICE
DETERMINATION
82
2.33.1.1
BASIC
MODEL
OF
DECISION
VALUE
DETERMINATION
82
233.1.1.1
DETERMINATION
OF
THE
BASE
PROGRAM
82
233.1.1.2
DETERMINATION
OF
THE
VALUATION
PROGRAM
83
233.1.13
NUMERICAL
EXAMPLE
84
2.33.1.2
BASIC
MODEL
OF
THE
PRESENT
VALUE
CALCULATION
94
233.1.2.1
STRUCTURAL
EQUALITY
OF
THE
PRICE
LIMIT
CALCULATION
AND
THE
PRESENT
VALUE
CALCULATION
94
2.33.1.2.2
EXTENDED
INTERPRETATION
OF
THE
TERM
COMPARISON
OBJECT
BASED
ON
THE
PRESENT
VALUE
CALCULATION
96
2.33.2
THE
STATE
MARGINAL
PRICE
MODEL
-
A
GENERAL
MODEL
97
2.33.2.1
BASICS
97
2.33.2.2
THE
MODEL
FROM
THE
PRESUMPTIVE
BUYER
S
PERSPECTIVE
100
233.2.2.1
PRESENTATION
100
233.2.2.2
NUMERICAL
EXAMPLE
102
CONTENTS
XI
233.23
THE
MODEL
FROM
THE
PRESUMPTIVE
SELLER
S
PERSPECTIVE
107
2.3.3.2.3.1
PRESENTATION
107
2.3.3.23.2
NUMERICAL
EXAMPLE
109
2.33.2.4
CONSIDERATION
OF
UNCERTAINTY
114
2.33.2.5
CRITICAL
EVALUATION
120
2.3.33
FUTURE
PERFORMANCE
VALUE
METHOD
-
A
PARTIAL
MODEL
121
2.3.33.1
PRESENTATION
121
2.3.33.2
RELATION
BETWEEN
THE
TOTAL
MODEL
AND
THE
PARTIAL
MODEL
125
2333.2.1
DERIVATION
OF
THE
FUTURE
PERFORMANCE
VALUE
METHOD
125
2333.2.2
NUMERICAL
EXAMPLE
134
2.3.3.33
CONSIDERATION
OF
UNCERTAINTY
139
2.3.33.4
CRITICAL
EVALUATION
142
2.33.4
APPROXIMATE
DECOMPOSED
BUSINESS
VALUATION
-
A
HEURISTIC
MODEL
145
23.3.4.1
BASICS
145
2.33.4.2
HEURISTISTIC
PLANNING
METHOD
OF
APPROXIMATE
DECOMPOSITION
UNDER
CONSIDERATION
OF
UNCERTAINTY
145
2.3.3.43
COMBINATION
BETWEEN
BUSINESS
VALUATION
AND
APPROXIMATE
DECOMPOSITION
UNDER
UNCERTAINTY
154
2.33.4.4
CRITICAL
EVALUATION
157
2.4
SELECTED
PROBLEMS
OF
DECISION
VALUE
DETERMINATION
159
2.4.1
VALUATION
OF
SMALL
AND
MEDIUM-SIZED
ENTERPRISES
159
2.4.1.1
VALUATION-RELEVANT
IDIOSYNCRASIES
159
2.4.1.2
STATE
MARGINAL
PRICE
MODEL
IN
LIGHT
OF
VALUATION-RELEVANT
IDIOSYNCRASIES
160
2.4.2
EFFECTS
ON
THE
DECISION
VALUE
THROUGH
MODIFICATIONS
OF
THE
DECISION
FIELD
162
2.4.3
DETERMINATION
OF
THE
DECISION
VALUE
IN
CONFLICT
SITUATIONS
OF
THE
MERGER
TYPE
AND
DEMERGER
TYPE
166
2.4.3.1
CONFLICT
SITUATIONS
OF
THE
MERGER
TYPE
166
2.43.1.1
PRESENTATION
166
2.43.1.2
NUMERICAL
EXAMPLE
172
2.43.2
CONFLICT
SITUATION
OF
THE
DEMERGER
TYPE
180
2.43.2.1
PRESENTATION
180
2.43.2.2
NUMERICAL
EXAMPLE
187
2.4.4
JOINT
CONFLICT
SITUATIONS
199
2.4.4.1
PRELIMINARY
REMARKS
199
2.4.4.2
EXEMPLARY
REPRESENTATION
OF
THE
JOINT
SITUATION
OF
THE
ACQUISITION/ACQUISITION
TYPE
200
2.5
SELECTED
CONTROL
QUESTIONS
210
XII
CONTENTS
3
MEDIATION
FUNCTION
AND
ARBITRATION
VALUE
213
3.1
BASICS
215
3.2
VALUE
DETERMINATION
IN
NON-DOMINATED
CONFLICT
SITUATIONS
218
3.2.1
FURTHER
INVESTIGATION
STEPS
WITHIN
THE
MATRIX
OF
FUNCTIONAL
BUSINESS
VALUATION
218
3.2.1.1
OVERVIEW
218
3.2.1.2
THE
STEPS
IN
DETAIL
218
3.2.1.2.1
FIRST
STEP
218
3.2.1.2.2
SECOND
STEP
222
3.2.1.2.3
THIRD
STEP
224
3.2.2
SELECTED
VALUATION
METHODS
225
3.2.2.1
PRELIMINARY
REMARKS
225
3.2.2.2
COMBINED
VALUATION
METHODS
229
3.2.2.2.1
MEAN
VALUE
METHOD
229
3.2.2.2.2
GOODWILL
RENT
METHODS
231
3.2.2.3
OVERVIEW
OF
TYPICAL
METHOD-SPECIFIC
CHARACTERISTICS
AND
THEIR
ARBITRATION-THEORETIC
INTERPRETATION
241
3.2.3
SELECTED
PROBLEMS
AT
THE
DETERMINATION
OF
THE
ARBITRATION
VALUE
245
3.2.3.1
DETERMINATION
OF
THE
ARBITRATION
VALUE
AT
AN
IPO
245
3.2.3.2
ARBITRATION
VALUE
DETERMINATION
AT
AUCTIONS
OF
MERGERS
&
ACQUISITIONS
252
3.3
VALUE
DETERMINATION
IN
DOMINATED
CONFLICT
SITUATIONS
255
3.4
SELECTED
CONTROL
QUESTIONS
257
4
ARGUMENTATION
FUNCTION
AND
ARGUMENTATION
VALUE
259
4.1
BASICS
261
4.2
VALUE
DETERMINATION
270
4.2.1
STEPS
OF
DETERMINATION
WITHIN
THE
MATRIX
OF
FUNCTIONAL
BUSINESS
VALUATION
270
4.2.1.1
OVERVIEW
270
4.2.1.2
THE
STEPS
IN
DETAIL
270
4.2.1.2.1
FIRST
STEP
270
4.2.1.2.2
SECOND
STEP
271
4.2.1.2.3
THIRD
STEP
280
CONTENTS
XIII
4.2.2
SELECTED
VALUATION
METHODS
282
4.2.2.
1
COMPARISON
METHODS
282
4.2.2.1.1
COMPARISON
METHODS
BASED
ON
SINGLE
VALUATION
282
4.2.2.1.1.1
STOCK-AND-DEBT
METHOD
282
4.2.2.1.1.2
SIMILAR
PUBLIC
COMPANY
APPROACH
284
4.2.2.1.1.3
INITIAL
PUBLIC
OFFERING
APPROACH
289
4.2.2.1.2
COMPARISON
METHODS
BASED
ON
OVERALL
VALUATION
289
4.2.2.1.2.1
RECENT
ACQUISITIONS
APPROACH
289
4.2.2.1.2.2
MARKET
MULTIPLES
APPROACH
290
4.2.2.2
FINANCE-THEORETIC
METHODS
292
4.2.2.2.1
CAPITAL
MARKET-THEORETIC
METHODS
(DCF
METHODS)
292
4.2.2.2.1.1
BASICS
292
4.2.2.2.
1.2
WEIGHTED
AVARAGE
COST
OF
CAPITAL
APPROACH
302
4.2.2.2.
1.3
ADJUSTED
PRESENT
VALUE
APPROACH
308
4.2.2.2.1.4
NET
METHOD
(FLOW
TO
EQUITY
APPROACH)
311
4.2.2.2.1.5
SUMMARY
OVERVIEW
313
4.2.2.2.2
METHODS
OF
STRATEGIC
VALUATION
319
4.3
SELECTED
CONTROL
QUESTIONS
325
5
PRINCIPLES
OF
BUSINESS
VALUATION
329
5.1
PRINCIPLES
OF
BUSINESS
VALUATION
AS
A
NORM
SYSTEM
331
5.1.1
CHARACTERISTICS
331
5.1.2
PURPOSES
333
5.1.3
SOURCES
336
5.2
PRINCIPLES
OF
FUNCTIONAL
BUSINESS
VALUATION
338
5.3
SELECTED
CONTROL
QUESTIONS
344
REFERENCES
345
ABOUT
THE
AUTHORS
365
INDEX
367
|
| adam_txt |
CONTENT
OVERVIEW
PAGE
PREFACE
V
CONTENTS
IX
LIST
OF
FIGURES
XV
LIST
OF
SYMBOLS
XXI
1
FUNDAMENTALS
OF
BUSINESS
VALUATION
1
1.1
BASIC
TERMINOLOGY
3
1.2
CONCEPTS
OF
BUSINESS
VALUATION
11
1.3
OCCASIONS
OF
BUSINESS
VALUATION
37
1.4
MATRIX
OF
FUNCTIONAL
BUSINESS
VALUATION
AND
OVERVIEW
OF
METHODS
OF
BUSINESS
VALUATION
46
1.5
SELECTED
CONTROL
QUESTIONS
52
2
DECISION
FUNCTION
AND
DECISION
VALUE
53
2.1
BASICS
55
2.2
DETERMINATION
OF
MULTI-DIMENSIONAL
DECISION
VALUES
60
2.3
DETERMINATION
OF
ONE-DIMENSIONAL
DECISION
VALUES
IN
NON-DOMINATED,
DISJOINT
CONFLICT
SITUATIONS
OF
THE
ACQUISITION/SALE
TYPE
70
2.4
SELECTED
PROBLEMS
OF
DECISION
VALUE
DETERMINATION
159
2.5
SELECTED
CONTROL
QUESTIONS
210
3
MEDIATION
FUNCTION
AND
ARBITRATION
VALUE
213
3.1
BASICS
215
3.2
VALUE
DETERMINATION
IN
NON-DOMINATED
CONFLICT
SITUATIONS
218
3.3
VALUE
DETERMINATION
IN
DOMINATED
CONFLICT
SITUATIONS
255
3.4
SELECTED
CONTROL
QUESTIONS
257
4
ARGUMENTATION
FUNCTION
AND
ARGUMENTATION
VALUE
259
4.1
BASICS
261
4.2
VALUE
DETERMINATION
270
4.3
SELECTED
CONTROL
QUESTIONS
325
5
PRINCIPLES
OF
BUSINESS
VALUATION
329
5.1
PRINCIPLES
OF
BUSINESS
VALUATION
AS
A
NORM
SYSTEM
331
5.2
PRINCIPLES
OF
FUNCTIONAL
BUSINESS
VALUATION
338
5.3
SELECTED
CONTROL
QUESTIONS
344
REFERENCES
345
ABOUT
THE
AUTHORS
365
INDEX
367
CONTENTS
PAGE
PREFACE
V
CONTENT
OVERVIEW
VII
LIST
OF
FIGURES
XV
LIST
OF
SYMBOLS
XXI
1
FUNDAMENTALS
OF
BUSINESS
VALUATION
1
1.1
BASIC
TERMINOLOGY
3
1.2
CONCEPTS
OF
BUSINESS
VALUATION
11
1.2.1
FUNCTIONAL
BUSINESS
VALUATION
THEORY
VIA
THE
GERMAN
SCHOOL
11
1.2.2
NEOCLASSICAL
BUSINESS
VALUATION
THEORY
VIA
THE
ANGLO-SAXON
SCHOOL
16
1.3
OCCASIONS
OF
BUSINESS
VALUATION
37
1.3.1
REQUIREMENT
TO
SYSTEMATIZE
OCCASIONS
OF
BUSINESS
VALUATION
37
1.3.2
SYSTEMATIZATION
OF
OCCASIONS
OF
BUSINESS
VALUATION
ACCORDING
TO
THE
MAIN
FUNCTIONS
39
1.3.2.1
CONFLICT
SITUATIONS
OF
THE
ACQUISITION/SALE
TYPE
AND
OF
THE
MERGER/DEMERGER
TYPE
39
1.3.2.2
NON-DOMINATED
AND
DOMINATED
CONFLICT
SITUATIONS
41
1.3.2.3
DISJOINT
AND
JOINT
CONFLICT
SITUATIONS
41
1.3.2.4
ONE-DIMENSIONAL
AND
MULTI-DIMENSIONAL
CONFLICT
SITUATIONS
42
1.4
MATRIX
OF
FUNCTIONAL
BUSINESS
VALUATION
AND
OVERVIEW
OF
METHODS
OF
BUSINESS
VALUATION
46
1.4.1
MATRIX
OF
FUNCTIONAL
BUSINESS
VALUATION
46
1.4.2
OVERVIEW
OF
METHODS
OF
BUSINESS
VALUATION
48
1.5
SELECTED
CONTROL
QUESTIONS
52
2
DECISION
FUNCTION
AND
DECISION
VALUE
53
2.1
BASICS
55
2.2
DETERMINATION
OF
MULTI-DIMENSIONAL
DECISION
VALUES
60
2.2.1
UTILITY
VALUES
AS
BASICS
FOR
DECISION
VALUE
DETERMINATION
60
2.2.1.1
THE
TERM
"
UTILITY
VALUE
"
60
X
CONTENTS
2.2.1.2
TARGET
PLAN
AND
DECISION
FIELD
AS
PARAMETERS
OF
THE
UTILITY
VALUE
60
2.2.2
A
GENERAL
MODEL
FOR
THE
DETERMINATION
OF
A
MULTI-DIMENSIONAL
DECISION
VALUE
65
2.2.2.1
DETERMINATION
OF
DECISION
VALUES
AS
A
TWO-STEP
CALCULATION
65
2.2.2.2
DETERMINATION
OF
THE
BASE
PROGRAM
65
2.2.23
DETERMINATION
OF
THE
VALUATION
PROGRAM
66
2.2.2.4
MULTI-DIMENSIONAL
DECISION
VALUE
67
2.2.2.5
SET
OF
THE
ACCEPTABLE
CONFLICT
RESOLUTIONS
69
2.2.2.6
SET
OF
AGREEMENT
RESOLUTIONS
69
2.3
DETERMINATION
OF
ONE-DIMENSIONAL
DECISION
VALUES
IN
NON-DOMINATED,
DISJOINT
CONFLICT
SITUATIONS
OF
THE
ACQUISITION/SALE
TYPE
70
2.3.1
EXAMINATION
STEPS
ON
THE
MATRIX
OF
FUNCTIONAL
BUSINESS
VALUATION
70
23.1.1
OVERVIEW
70
23.1.2
THE
STEPS
IN
DETAIL
71
23.1.2.1
FIRST
STEP
71
23.1.2.2
SECOND
STEP
75
2.3.1.23
THIRD
STEP
77
2.3.2
CHARACTERIZING
THE
CONFLICT
SITUATION
79
2.3.3
VALUATION
METHODS
82
2.33.1
BASIC
MODELS
OF
MARGINAL
PRICE
DETERMINATION
82
2.33.1.1
BASIC
MODEL
OF
DECISION
VALUE
DETERMINATION
82
233.1.1.1
DETERMINATION
OF
THE
BASE
PROGRAM
82
233.1.1.2
DETERMINATION
OF
THE
VALUATION
PROGRAM
83
233.1.13
NUMERICAL
EXAMPLE
84
2.33.1.2
BASIC
MODEL
OF
THE
PRESENT
VALUE
CALCULATION
94
233.1.2.1
STRUCTURAL
EQUALITY
OF
THE
PRICE
LIMIT
CALCULATION
AND
THE
PRESENT
VALUE
CALCULATION
94
2.33.1.2.2
EXTENDED
INTERPRETATION
OF
THE
TERM
"
COMPARISON
OBJECT
"
BASED
ON
THE
PRESENT
VALUE
CALCULATION
96
2.33.2
THE
STATE
MARGINAL
PRICE
MODEL
-
A
GENERAL
MODEL
97
2.33.2.1
BASICS
97
2.33.2.2
THE
MODEL
FROM
THE
PRESUMPTIVE
BUYER
'S
PERSPECTIVE
100
233.2.2.1
PRESENTATION
100
233.2.2.2
NUMERICAL
EXAMPLE
102
CONTENTS
XI
233.23
THE
MODEL
FROM
THE
PRESUMPTIVE
SELLER
'
S
PERSPECTIVE
107
2.3.3.2.3.1
PRESENTATION
107
2.3.3.23.2
NUMERICAL
EXAMPLE
109
2.33.2.4
CONSIDERATION
OF
UNCERTAINTY
114
2.33.2.5
CRITICAL
EVALUATION
120
2.3.33
FUTURE
PERFORMANCE
VALUE
METHOD
-
A
PARTIAL
MODEL
121
2.3.33.1
PRESENTATION
121
2.3.33.2
RELATION
BETWEEN
THE
TOTAL
MODEL
AND
THE
PARTIAL
MODEL
125
2333.2.1
DERIVATION
OF
THE
FUTURE
PERFORMANCE
VALUE
METHOD
125
2333.2.2
NUMERICAL
EXAMPLE
134
2.3.3.33
CONSIDERATION
OF
UNCERTAINTY
139
2.3.33.4
CRITICAL
EVALUATION
142
2.33.4
APPROXIMATE
DECOMPOSED
BUSINESS
VALUATION
-
A
HEURISTIC
MODEL
145
23.3.4.1
BASICS
145
2.33.4.2
HEURISTISTIC
PLANNING
METHOD
OF
APPROXIMATE
DECOMPOSITION
UNDER
CONSIDERATION
OF
UNCERTAINTY
145
2.3.3.43
COMBINATION
BETWEEN
BUSINESS
VALUATION
AND
APPROXIMATE
DECOMPOSITION
UNDER
UNCERTAINTY
154
2.33.4.4
CRITICAL
EVALUATION
157
2.4
SELECTED
PROBLEMS
OF
DECISION
VALUE
DETERMINATION
159
2.4.1
VALUATION
OF
SMALL
AND
MEDIUM-SIZED
ENTERPRISES
159
2.4.1.1
VALUATION-RELEVANT
IDIOSYNCRASIES
159
2.4.1.2
STATE
MARGINAL
PRICE
MODEL
IN
LIGHT
OF
VALUATION-RELEVANT
IDIOSYNCRASIES
160
2.4.2
EFFECTS
ON
THE
DECISION
VALUE
THROUGH
MODIFICATIONS
OF
THE
DECISION
FIELD
162
2.4.3
DETERMINATION
OF
THE
DECISION
VALUE
IN
CONFLICT
SITUATIONS
OF
THE
MERGER
TYPE
AND
DEMERGER
TYPE
166
2.4.3.1
CONFLICT
SITUATIONS
OF
THE
MERGER
TYPE
166
2.43.1.1
PRESENTATION
166
2.43.1.2
NUMERICAL
EXAMPLE
172
2.43.2
CONFLICT
SITUATION
OF
THE
DEMERGER
TYPE
180
2.43.2.1
PRESENTATION
180
2.43.2.2
NUMERICAL
EXAMPLE
187
2.4.4
JOINT
CONFLICT
SITUATIONS
199
2.4.4.1
PRELIMINARY
REMARKS
199
2.4.4.2
EXEMPLARY
REPRESENTATION
OF
THE
JOINT
SITUATION
OF
THE
ACQUISITION/ACQUISITION
TYPE
200
2.5
SELECTED
CONTROL
QUESTIONS
210
XII
CONTENTS
3
MEDIATION
FUNCTION
AND
ARBITRATION
VALUE
213
3.1
BASICS
215
3.2
VALUE
DETERMINATION
IN
NON-DOMINATED
CONFLICT
SITUATIONS
218
3.2.1
FURTHER
INVESTIGATION
STEPS
WITHIN
THE
MATRIX
OF
FUNCTIONAL
BUSINESS
VALUATION
218
3.2.1.1
OVERVIEW
218
3.2.1.2
THE
STEPS
IN
DETAIL
218
3.2.1.2.1
FIRST
STEP
218
3.2.1.2.2
SECOND
STEP
222
3.2.1.2.3
THIRD
STEP
224
3.2.2
SELECTED
VALUATION
METHODS
225
3.2.2.1
PRELIMINARY
REMARKS
225
3.2.2.2
COMBINED
VALUATION
METHODS
229
3.2.2.2.1
MEAN
VALUE
METHOD
229
3.2.2.2.2
GOODWILL
RENT
METHODS
231
3.2.2.3
OVERVIEW
OF
TYPICAL
METHOD-SPECIFIC
CHARACTERISTICS
AND
THEIR
ARBITRATION-THEORETIC
INTERPRETATION
241
3.2.3
SELECTED
PROBLEMS
AT
THE
DETERMINATION
OF
THE
ARBITRATION
VALUE
245
3.2.3.1
DETERMINATION
OF
THE
ARBITRATION
VALUE
AT
AN
IPO
245
3.2.3.2
ARBITRATION
VALUE
DETERMINATION
AT
AUCTIONS
OF
MERGERS
&
ACQUISITIONS
252
3.3
VALUE
DETERMINATION
IN
DOMINATED
CONFLICT
SITUATIONS
255
3.4
SELECTED
CONTROL
QUESTIONS
257
4
ARGUMENTATION
FUNCTION
AND
ARGUMENTATION
VALUE
259
4.1
BASICS
261
4.2
VALUE
DETERMINATION
270
4.2.1
STEPS
OF
DETERMINATION
WITHIN
THE
MATRIX
OF
FUNCTIONAL
BUSINESS
VALUATION
270
4.2.1.1
OVERVIEW
270
4.2.1.2
THE
STEPS
IN
DETAIL
270
4.2.1.2.1
FIRST
STEP
270
4.2.1.2.2
SECOND
STEP
271
4.2.1.2.3
THIRD
STEP
280
CONTENTS
XIII
4.2.2
SELECTED
VALUATION
METHODS
282
4.2.2.
1
COMPARISON
METHODS
282
4.2.2.1.1
COMPARISON
METHODS
BASED
ON
SINGLE
VALUATION
282
4.2.2.1.1.1
STOCK-AND-DEBT
METHOD
282
4.2.2.1.1.2
SIMILAR
PUBLIC
COMPANY
APPROACH
284
4.2.2.1.1.3
INITIAL
PUBLIC
OFFERING
APPROACH
289
4.2.2.1.2
COMPARISON
METHODS
BASED
ON
OVERALL
VALUATION
289
4.2.2.1.2.1
RECENT
ACQUISITIONS
APPROACH
289
4.2.2.1.2.2
MARKET
MULTIPLES
APPROACH
290
4.2.2.2
FINANCE-THEORETIC
METHODS
292
4.2.2.2.1
CAPITAL
MARKET-THEORETIC
METHODS
(DCF
METHODS)
292
4.2.2.2.1.1
BASICS
292
4.2.2.2.
1.2
WEIGHTED
AVARAGE
COST
OF
CAPITAL
APPROACH
302
4.2.2.2.
1.3
ADJUSTED
PRESENT
VALUE
APPROACH
308
4.2.2.2.1.4
NET
METHOD
(FLOW
TO
EQUITY
APPROACH)
311
4.2.2.2.1.5
SUMMARY
OVERVIEW
313
4.2.2.2.2
METHODS
OF
STRATEGIC
VALUATION
319
4.3
SELECTED
CONTROL
QUESTIONS
325
5
PRINCIPLES
OF
BUSINESS
VALUATION
329
5.1
PRINCIPLES
OF
BUSINESS
VALUATION
AS
A
NORM
SYSTEM
331
5.1.1
CHARACTERISTICS
331
5.1.2
PURPOSES
333
5.1.3
SOURCES
336
5.2
PRINCIPLES
OF
FUNCTIONAL
BUSINESS
VALUATION
338
5.3
SELECTED
CONTROL
QUESTIONS
344
REFERENCES
345
ABOUT
THE
AUTHORS
365
INDEX
367 |
| any_adam_object | 1 |
| any_adam_object_boolean | 1 |
| author | Matschke, Manfred Jürgen 1943- Brösel, Gerrit 1972- |
| author_GND | (DE-588)108493938 (DE-588)124779816 |
| author_facet | Matschke, Manfred Jürgen 1943- Brösel, Gerrit 1972- |
| author_role | aut aut |
| author_sort | Matschke, Manfred Jürgen 1943- |
| author_variant | m j m mj mjm g b gb |
| building | Verbundindex |
| bvnumber | BV047253358 |
| classification_rvk | QP 770 |
| ctrlnum | (OCoLC)1249675989 (DE-599)DNB1220923451 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| format | Book |
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| id | DE-604.BV047253358 |
| illustrated | Illustrated |
| index_date | 2024-07-03T17:08:38Z |
| indexdate | 2025-02-20T06:44:41Z |
| institution | BVB |
| institution_GND | (DE-588)106537268X (DE-588)5161273-2 |
| isbn | 3825255204 9783825255206 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-032657410 |
| oclc_num | 1249675989 |
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| physical | XXX, 368 Seiten Illustrationen, Diagramme, Tabellen |
| publishDate | 2021 |
| publishDateSearch | 2021 |
| publishDateSort | 2021 |
| publisher | UVK Verlag |
| record_format | marc |
| series2 | utb Finance |
| spellingShingle | Matschke, Manfred Jürgen 1943- Brösel, Gerrit 1972- Business valuation functions, methods, principles Unternehmensbewertung (DE-588)4078594-4 gnd |
| subject_GND | (DE-588)4078594-4 (DE-588)4123623-3 |
| title | Business valuation functions, methods, principles |
| title_auth | Business valuation functions, methods, principles |
| title_exact_search | Business valuation functions, methods, principles |
| title_exact_search_txtP | Business valuation functions, methods, principles |
| title_full | Business valuation functions, methods, principles Manfred Jürgen Matschke, Gerrit Brösel |
| title_fullStr | Business valuation functions, methods, principles Manfred Jürgen Matschke, Gerrit Brösel |
| title_full_unstemmed | Business valuation functions, methods, principles Manfred Jürgen Matschke, Gerrit Brösel |
| title_short | Business valuation |
| title_sort | business valuation functions methods principles |
| title_sub | functions, methods, principles |
| topic | Unternehmensbewertung (DE-588)4078594-4 gnd |
| topic_facet | Unternehmensbewertung Lehrbuch |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=032657410&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT matschkemanfredjurgen businessvaluationfunctionsmethodsprinciples AT broselgerrit businessvaluationfunctionsmethodsprinciples AT uvkverlagsgesellschaftmbh businessvaluationfunctionsmethodsprinciples AT unitaschenbuchergmbh businessvaluationfunctionsmethodsprinciples |
Indexes
THWS Schweinfurt Zentralbibliothek Lesesaal
| Call Number: |
2000 QP 770 M434 |
|---|---|
| Copy 1 | ausleihbar Available Place a Hold |