Towards a more accurate equity valuation - An empirical analysis. Dissertation Universität zu Köln, 2009. With a Preface by Carsten Homburg

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.

Sommario

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.

Info autore

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.

Riassunto

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.

Dettagli sul prodotto

• Autori: Stefan Henschke
• Editore: Gabler
• Lingue: Tedesco
• Formato: Tascabile
• Pubblicazione: 31.08.2009
• EAN: 9783834919274
• ISBN: 978-3-8349-1927-4
• Pagine: 165
• Peso: 262 g
• Illustrazioni: XXIV, 165 S. 17 Abb.
• Serie: Gabler Research; Quantitatives Controlling; Gabler Research; Quantitatives Controlling
• Categorie: Scienze sociali, diritto, economia > Economia > Economia aziendale; Bewertung (wirtschaftlich), Unternehmen, Business and Management, Accounting, Finance, Finance, general, Financial Economics, Management science, Management accounting & bookkeeping, bookkeeping