Corporate Valuation Measuring the Value of Companies in Turbulent Times 1st Edition by Mario Massari, Gianfranco Gianfrate, Laura Zanetti ISBN 1119003334 978-1119003335
Original price was: $50.00.$35.00Current price is: $35.00.
Corporate Valuation Measuring the Value of Companies in Turbulent Times 1st Edition by Mario Massari, Gianfranco Gianfrate, Laura Zanetti – Ebook PDF Instant Download/Delivery: 1119003334, 978-1119003335
Full download Corporate Valuation Measuring the Value of Companies in Turbulent Times 1st Edition after payment
Product details:
ISBN 10: 1119003334
ISBN 13: 978-1119003335
Author: Mario Massari, Gianfranco Gianfrate, Laura Zanetti
Risk consideration is central to more accurate post-crisis valuation
Corporate Valuation presents the most up-to-date tools and techniques for more accurate valuation in a highly volatile, globalized, and risky business environment. This insightful guide takes a multidisciplinary approach, considering both accounting and financial principles, with a practical focus that uses case studies and numerical examples to illustrate major concepts. Readers are walked through a map of the valuation approaches proven most effective post-crisis, with explicit guidance toward implementation and enhancement using advanced tools, while exploring new models, techniques, and perspectives on the new meaning of value. Risk centrality and scenario analysis are major themes among the techniques covered, and the companion website provides relevant spreadsheets, models, and instructor materials.
Business is now done in a faster, more diverse, more interconnected environment, making valuation an increasingly more complex endeavor. New types of risks and competition are shaping operations and finance, redefining the importance of managing uncertainty as the key to success. This book brings that perspective to bear in valuation, providing new insight, new models, and practical techniques for the modern finance industry.
Gain a new understanding of the idea of “value,” from both accounting and financial perspectives
Learn new valuation models and techniques, including scenario-based valuation, the Monte Carlo analysis, and other advanced tools
Understand valuation multiples as adjusted for risk and cycle, and the decomposition of deal multiples
Examine the approach to valuation for rights issues and hybrid securities, and more
Traditional valuation models are inaccurate in that they hinge on the idea of ensured success and only minor adjustments to forecasts. These rules no longer apply, and accurate valuation demands a shift in the paradigm. Corporate Valuation describes that shift, and how it translates to more accurate methods.
Table of contents:
Chapter 1: Introduction
1.1 What We Should Know to Value a Company
1.2 Valuation Methods: An Overview
1.3 The Time Value of Money
1.4 Uncertainty in Company Valuations
1.5 Uncertainty and Managerial Flexibility
1.6 Relationship between Value and Uncertainty
Chapter 2: Business Forecasting for Valuation
2.1 Introduction
2.2 Key Phases of the Business Plan Elaboration
2.3 What Drives the Preparation of a Business Plan?
2.4 The Main Methodological Issues
Chapter 3: Scenario Analysis
3.1 Introduction
3.2 What Is Scenario Analysis?
3.3 Difference between Scenario and Sensitivity Analysis
3.4 When to Perform Scenario Analysis
3.5 Worst and Best Cases and What Happens Next
3.6 Multi-Scenario Analysis
3.7 Pros and Cons
3.8 How to Perform Scenario Analysis in Excel
3.9 Conclusions
Chapter 4: Monte Carlo Valuation
4.1 Introducing Monte Carlo Techniques
4.2 Monte Carlo and Corporate Valuation
4.3 A Step-by-Step Procedure
4.4 Case Study: Outdoor Inc. Valuation
4.5 A Step-by-Step Guide Using Excel and Crystal Ball
Chapter 5: Determining Cash Flows for Company Valuation
5.1 Introduction
5.2 Reorganization of the Balance Sheet
5.3 Relationship between a Company’s Balance Sheet and Income Statement
5.4 From the Economic to the Financial Standpoint
5.5 Cash Flow Definitions and Valuation Models
5.6 Business Plan and Cash Flow Projections
Chapter 6: Choosing the Valuation Standpoint
6.1 Debt and Value
6.2 Relationship between Leverage and Value
6.3 Alternative Valuation Techniques for Debt with Fiscal Advantage
6.4 Choice between Asset-Side vs. Equity-Side Perspective
6.5 From Asset Value to Equity Value
Chapter 7: Leverage and Value in Growth Scenarios
7.1 Growth, Leverage, and Value
7.2 Nominal and Real Discounting
7.3 Problems with the Discount of Tax Benefit
7.4 Cost of Capital Formulas in Growth Scenarios
7.5 The WACC: Some Remarks
7.6 Real Dimension of Tax Benefits
Chapter 8: Estimating the Cost of Capital
8.1 Defining the Opportunity Cost of Capital
8.2 Comments on Risk
8.3 Practical Approaches to Estimate Cost of Equity
8.4 Models Based on Sensitivity to Risk Factors
8.5 The Capital Asset Pricing Model (CAPM)
8.6 Estimating Risk-Free Rate, Market Premium, and Beta
8.7 Dealing with Specific Risks
8.8 Cost of Debt
Chapter 9: Cash Flow Profiles and Valuation Procedures
9.1 From Business Models to Cash Flow Models
9.2 Cash Flow Profiles of Business Units vs. Whole Entity
9.3 Problems with Cash Flow Identification
9.4 Debt Profile Analysis and Forecasting
9.5 Valuation of Tax Advantages
9.6 Debt Patterns for Valuation
Chapter 10: A Steady State Cash Flow Model
10.1 Value as a Function of Discounted Future Results
10.2 Capitalization of a Normalized Monetary Flow
10.3 The Perpetual Growth Formula
10.4 Multi-Stage Growth Models
Chapter 11: Discounting Cash Flows and Terminal Value
11.1 Explicit Projections
11.2 Estimation of the Terminal Value
11.3 Evaluation of Gas Supply Co.
Chapter 12: Multiples – An Overview
12.1 Theory of Multiples
12.2 Price/Earnings Ratio (P/E)
12.3 EV/EBIT and EV/EBITDA Multiples
12.4 Relationship between Multiples and Growth
12.5 PEG Ratio
Chapter 13: Multiples in Practice
13.1 Framework for the Use of Stock Market Multiples
13.2 Comparability and Choice of Multiples
13.3 Estimation of “Exit” Multiples
13.4 Analysis of Deal Multiples
Chapter 14: The Acquisition Value
14.1 Definitions of Value
14.2 Value Created by an Acquisition
14.3 Value-Components Model
14.4 Acquisition Value of Plastic Materials Co.
14.5 Acquisition Value of Controlling Interests
14.6 Other Determinants of Control Premium
14.7 Exchange Ratio in Mergers
Chapter 15: Value and Prices in the Market for Corporate Control
15.1 Price Formation in the Market for Control
15.2 Benefits of Acquisitions
15.3 Premiums and Discounts in Valuation
15.4 Estimating Control and Acquisition Premiums
15.5 Minority Discount and Marketability Discount
Chapter 16: Valuation Considerations on Rights Issues
16.1 Introduction to Rights Issues
16.2 Setting the Subscription Price
16.3 Value of Preemptive Rights
Chapter 17: Carbon Risk and Corporate Value
17.1 Why Carbon Risk Matters
17.2 From Carbon Risks to Carbon Pricing
17.3 Incorporating Carbon Risks in Corporate Valuation
17.4 Carbon Beta
People also search for:
corporate valuation an easy guide to measuring value
what is corporate valuation
public company valuation methods
how is a business valuation calculator
corporate valuation methods
Tags: Mario Massari, Gianfranco Gianfrate, Laura Zanetti, Corporate Valuation, Measuring the Value, Turbulent Times