Zur Bewertung von Investitionsprojekten mit mehrperiodigen Zahlungen können die erwarteten Zahlungen mit geeigneten Kapitalkosten diskontiert werden. Die Kapitalkosten werden in der Regel als die erwartete einperiodige Rendite der Investition bestimmt, wobei häufig auf Kapitalmarktmodelle wie...

This contribution addresses the substantial tax subsidies for businesses introducedby the German Inheritance Tax Act 2009. Advocates in favour of the vast or evenentire tax exemption for businesses stress the potential damage of the inheritancetax on businesses, as those often lack liquid assets...

Das Internet und Online-Produkte haben über die letzten Jahre hinweg einen immer höheren Stellenwert in der Wirtschaft erlangt. Nicht zuletzt aus diesem Grund lassen sich in zunehmendem Maße millionenschwere Investitionen in Web 2.0-Produkte und Internet-Startups beobachten.[...]Angesichts...

The article examines the market valuation approach using industry market multiples as this method has recently attracted increasing interest from appraisers. It investigates whether constructing one’s own industry market multiples for company valuation which are based on a market approach...

Young, high growth internet/online companies are an attractive topic for market analysts and hot shots of Initial Private Offerings. At the same time, it is very complicated to provide a robust valuation for such companies, as shown by often unpredictable paths of share prices, resulting in the...

This paper focuses on an analysis of the mandatory disclosure of goodwill impairment information in compliance with the international accounting standard IAS 36. The international financial reporting standards require a wide range of disclosed information concerning the goodwill impairment such...