Towards a more accurate equity valuation

An empirical analysis
2009
ISBN: 978-3-8349-1927-4
Verlag: Gabler Verlag

Buch, Deutsch, 165 Seiten, Format (B × H): 148 mm x 210 mm, Gewicht: 286 g

Reihe: Quantitatives Controlling

The accurate valuation of companies is essential for investors and managers. What appears to be straightforward from an academic perspective – discount expected future payoffs using adequate cost of capital – can be extremely difficult to implement. Using an empirical approach, Stefan Henschke investigates and improves the performance of different equity valuation methods. His research provides guidance for identifying inaccurate valuations and for improving the accuracy of valuations based on multiples.

Zielgruppe

Research

Autoren/Hrsg.

Henschke, Stefan

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Bankwirtschaft
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Unternehmensfinanzierung
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen Finanzierung, Investition, Leasing
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Börse, Rohstoffe

Inhaltsverzeichnis

Valuing equity.- The accuracy of equity valuation methods.- Multiples: Controlling for differences between firms.- Linear information models: The effects of conservative accounting.- Summary and conclusions.

Über Autor(innen)

Dr. Stefan Henschke received his doctor’s degree at the University of Cologne, his supervisor was Prof. Dr. Carsten Homburg from the Department of Management Accounting.