Business Valuation An Integrated Theory.

Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Mercer, Z. Christopher
Otros Autores: Harms, Travis W.
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Newark : John Wiley & Sons, Incorporated, 2020.
Edición:3rd ed.
Colección:Wiley Series in Finance Ser.
Temas:
Business enterprises > Valuation.
Corporations > Valuation.
Entreprises > Évaluation.
Sociétés > Évaluation.
Business enterprises > Valuation
Corporations > Valuation
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Cover
  • Title Page
  • Copyright
  • Contents
  • Introduction
  • Part 1 Conceptual Overview of the Integrated Theory
  • Chapter 1 The World of Value
  • Introduction
  • Common Questions
  • The World of Value
  • The Organizing Principles
  • Summary
  • Chapter 2 The Integrated Theory (Equity Basis)
  • Introduction
  • Common Questions
  • The Fundamental Valuation Model
  • The Conceptual Levels of Value
  • Symbolic Notation for the Integrated Theory
  • The Marketable Minority Interest Level of Value
  • Introduction to the Control Levels of Value
  • Strategic Control Level of Value
  • Firmwide Levels versus the Shareholder Level of Value
  • The Nonmarketable Minority Level of Value
  • The Integrated Theory of Business Valuation on an Equity Basis
  • Summary
  • Chapter 3 The Integrated Theory (Enterprise Basis)
  • Introduction
  • Comparing the Levels of Value: Equity and Enterprise Bases
  • Final Comparisons of the Equity and Enterprise Bases
  • Summary
  • Part 2 Valuing Enterprise Cash Flows
  • Chapter 4 Income Approach (Cash Flows)
  • Introduction
  • Reconciling Single-Period Capitalization and Discounted Cash Flow Methods
  • Defining Enterprise Cash Flows
  • Defining Equity Cash Flows
  • Reinvestment Rates and Interim Growth Rates
  • Terminal Growth Rates
  • Expected Cash Flows and the Integrated Theory
  • Marketable Minority Interest Level: Public Company Equivalent
  • Financial Control Level: Private Equity Cash Flows
  • Strategic Control Level: Strategic Acquirer Cash Flows
  • Assessing the Reasonableness of Projected Enterprise Cash Flows
  • Conclusion
  • Chapter 5 Income Approach (Discount Rate)
  • Introduction
  • Return Basics: Realized versus Required Returns
  • Components of the Weighted Average Cost of Capital
  • Market Participants and the WACC
  • The Levels of Value and the WACC
  • Assessing Overall Reasonableness
  • Chapter 6 Market Approach (Guideline Public Companies)
  • Introduction
  • Relationship of the Income and Market Approaches
  • What Do Observed Public Company Valuation Multiples Mean?
  • Adjusting Valuation Multiples for Differences in Risk and Growth
  • Guideline Public Company Multiples and the Enterprise Levels of Value
  • Assessing Overall Reasonableness
  • Chapter 7 Market Approach (Guideline Transactions)
  • Introduction
  • Attributes of Guideline Transaction Data
  • Drawing Valuation Inferences from Guideline Transaction Data
  • Minority Interest Discounts Inferred from Observed Control Premiums
  • Guideline Transaction Multiples and the Levels of Value
  • Assessing Overall Reasonableness
  • Appendix 7 A Historical Perspective on the Control Premium and Minority Interest Discount
  • Introduction
  • Control Premium Studies: Mergerstat Review
  • The Market Participant Acquisition Premium
  • The Case for the Disappearing Minority Interest Discount
  • Part 3 Valuing Shareholder Cash Flows
  • Chapter 8 Restricted Stock Discounts and Pre-IPO Studies

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