Investment Valuation : Tools and Techniques for Determining the Value of Any Asset / Edition 1by Aswath Damodaran
Pub. Date: 12/28/1995
A celebrated university finance professor discusses the valuation of all investments not just securities. This up-to-the-minute text uses examples from a diversity of existing companies to demonstrate the use of the models as well as their possible pitfalls. Thoroughly examines firms where direct application of typical models traditionally breakdown--problems in valuing these enterprises are laid out and potential solutions suggested. Special sections deal with valuation issues that have not received adequate coverage such as the value of synergy in controlling mergers and the value of product options that a company may possess. Includes optional software developed and tested by the author.
Table of Contents
Approaches to Valuation.
Risk and Return-Theory.
Estimation of Discount Rates.
Understanding Financial Statements.
Estimation of Cashflows.
Estimation of Growth Rates.
Market Efficiency-Definition and Tests.
Market Efficiency-The Evidence.
Dividend Discount Models.
Free Cashflows to Equity Discount Models.
Valuing a Firm-The Free Cashflows to the Firm Approach.
Special Cases in Discounted Cashflow Valuation.
Price/Book Value Multiples.
Option Pricing Theory.
Applications of Option Pricing Theory to Equity Valuation.
The Determinants of Interest Rates.
Special Features in Bonds.
Valuing Futures Contracts.
Valuing Real Estate.
Valuing Other Assets.
Overview and Conclusion.
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