Publisher's Synopsis
As the pressure to focus on shareholder returns increases it is essential that CEO's, business managers, financial managers and analysts have the necessary understanding and skills to ensure their actions are producing the appropriate returns.
This bestselling briefing - revised and updated in a new edition - enables you to calculate value effectively. It provides a systematic and reliable means to assess the potential for value creation in a range of circumstances. Covering the latest valuation techniques alongside traditional models, it illustrates their relative advantages and disadvantages with the use of case studies throughout. By applying these models, the risk involved in corporate decision-making can be significantly reduced.
The new edition updates and extends the first edition to incorporate recent developments in this field. Revisions and additions include the complex issue of how to value technology companies; accounting standards; asset-based valuations; book and market values; and cross-border valuations.
Contents include:
- Introduction
- Review of traditional valuation models and their contemporary operationalisation
- Fundamental DCF models
- The cost of capital in DCF models
- Forecasting free cash flows and calculating horizon value
- Contemporary methods for operationalising the FCF method
- Additional factors in valuation for takeovers and mergers
- Value added through flexibility
