Investment Valuation

Tools and Techniques for Determining the Value of Any Asset

Aswath Damodaran

992 pages, parution le 15/02/2002 (2^eme édition)

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Résumé

Valuation is at the heart of every investment decision, whether that decision is to buy, sell, or hold. But the pricing of any financial asset has become a more complex task in modern financial markets. Now completely revised and fully updated to reflect changing market conditions, Investment Valuation, Second Edition, provides expert instruction on how to value virtually any type of asset-stocks, bonds, options, futures, real assets, and much more.

Noted valuation authority and acclaimed NYU finance professor Aswath Damodaran uses real-world examples and the most current valuation tools, as he guides you through the theory and application of valuation models and highlights their strengths and weaknesses.

Expanded coverage addresses:

Valuation of unconventional assets, financial service firms, start-ups, private companies, dot-coms, and many other traditionally valued assets
Risk in foreign countries and how best to deal with it
Using real option theory and option pricing models in valuing business and equity
The models used to value different types of assets and the elements of these models
How to choose the right model for any given asset valuation scenario
Online real-time valuations that are continually updated at www.damodaran.com

A perfect guide for those who need to know more about the tricky business of valuation, Investment Valuation, Second Edition, will be a valuable asset for anyone learning about this critical part of the investment process.

L'auteur - Aswath Damodaran

Aswath Damodaran is Professor of Finance at the Stern School of Business at New York University, where he teaches corporate finance and equity valuation. Damodaran has written two books on equity valuation (Damodaran on Valuation and Investment Valuation), as well as two books on corporate finance (Corporate Finance: Theory and Practice and Applied Corporate Finance: A User's Manual). He also published widely in leading journals of finance, including The Journal of Financial and Quantitative Analysis, The Journal of Finance, The Journal of Financial Economics, and the Review of Financial Studies.

Damodaran received the Stern School of Business Excellence in Teaching Award in 1988, 1991, 1992, and 1999. In 1194, he was profiled in Business Week as one of the top 12 U.S. business school professors

Sommaire

Introduction to Valuation
Approaches to Valuation
Understanding Financial Statements
The Basics of Risk
Option Pricing Theory and Models
Market Efficiency-Definition, Tests, and Evidence
Riskless Rates and Risk Premiums
Estimating Risk Parameters and Costs of Financing
Measuring Earnings
From Earnings to Cash Flows
Estimating Growth
Closure in Valuation: Estimating Terminal Value
Dividend Discount Models
Free Cash Flow to Equity Discount Models
Firm Valuation: Cost of Capital and Adjusted Present Value Approaches
Estimating Equity Value per Share
Fundamental Principles of Relative Valuation
Earnings Multiples
Book Value Multiples
Revenue Multiples and Sector-Specific Multiples
Valuing Financial Service Firms
Valuing Firms with Negative Earnings
Valuing Young or Start-Up Firms
Valuing Private Firms
Acquisitions and Takeovers
Valuing Real Estate
Valuing Other Assets
The Option to Delay and Valuation Implications
The Options to Expand and to Abandon: Valuation Implications
Valuing Equity in Distressed Firms
Value Enhancement: A Discounted Cash Flow Valuation Framework
Value Enhancement: Economic Value Added, Cash Flow Return on Investment, and Other Tools
Valuing Bonds
Valuing Futures and Forward Contracts
Overview and Conclusion

Voir tout

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Wiley
Auteur(s)	Aswath Damodaran
Parution	15/02/2002
Édition	2^eme édition
Nb. de pages	992
Format	18 x 25,5
Couverture	Broché
Poids	1695g
Intérieur	Noir et Blanc
EAN13	9780471414902
ISBN13	978-0-471-41490-2