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Equivalence of ten different discounted cash flow valuation methods
Fernandez, Pablo - IESE Business School, Universidad de Navarra - 2004
This paper shows that ten methods of company valuation using discounted cash flows (WACC; equity cash flow; capital … assumptions; they differ only in the cash flows taken as the starting point for the valuation. We present all ten methods …
Persistent link: https://www.econbiz.de/10005021707
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Three residual income valuation methods and discounted cash flow valuation
Fernandez, Pablo - IESE Business School, Universidad de Navarra - 2003
In this paper we show that the three residual Income models for equity valuation always yield the same value as the … Discounted Cash Flow Valuation models. We use three residual income measures: Economic Profit, Economic Value Added (EVA) and …
Persistent link: https://www.econbiz.de/10005021717
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Most common errors in company valuation
Fernandez, Pablo - IESE Business School, Universidad de Navarra - 2004
referred to in this paper when consulting in company acquisitions, sales and mergers, and in arbitrage processes. Some of the …
Persistent link: https://www.econbiz.de/10005021741
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80 common and uncommon errors in company valuation
Fernandez, Pablo - IESE Business School, Universidad de Navarra - 2004
in his capacity as a consultant in company acquisitions, sales and mergers, and arbitrage processes. Some of the errors … interpreting the valuation; and 6) Organizational errors. …
Persistent link: https://www.econbiz.de/10005021791
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Equivalence of ten different methods for valuing companies by cash flow discounting.
Fernandez, Pablo - IESE Business School, Universidad de Navarra - 2003
This paper shows that ten methods of company valuation using cash flow discounting (WACC; equity cash flow; capital … assumptions; they only differ in the cash flows taken as the starting point for the valuation. We present all ten methods allowing …
Persistent link: https://www.econbiz.de/10005021809
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75 common and uncommon errors in company valuation
Fernandez, Pablo - IESE Business School, Universidad de Navarra - 2003
this paper when consulting in purchases, sales and mergers of companies, and in arbitrage processes. Some valuations are … valuation, and 6) organizational errors. …
Persistent link: https://www.econbiz.de/10005106612
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110 common errors in company valuations
Fernandez, Pablo; Bilan, Andrada - IESE Business School, Universidad de Navarra - 2007
capacity as a consultant in company acquisitions, sales, mergers, and arbitrage processes. We classify the errors into six main …; 5) errors when interpreting the valuation; and 6) organizational errors. …
Persistent link: https://www.econbiz.de/10005106624
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Shareholder value creation in Europe. Eurostoxx 50: 1997-2003
Fernandez, Pablo; Villanueva, Alvaro - IESE Business School, Universidad de Navarra - 2004
2003 was a good year for the shareholders of the companies in the Euro Stoxx 50: the shareholder value creation of these 50 companies was €150,016 million. The companies that created most value for their shareholder were Siemens (€18,778 million), Telefonica (15,382) and BSCH (12,443). The...
Persistent link: https://www.econbiz.de/10005021695
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Levered and unlevered Beta
Fernandez, Pablo - IESE Business School, Universidad de Navarra - 2003
( u) is the No-costs-of-leverage formula: L = u + ( u - d) D (1 - T) / E. We also analyze 6 alternative valuation theories …
Persistent link: https://www.econbiz.de/10005021700
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Rentabilidad y creación de valor de 125 empresas españolas en 2008 (hasta el 17 de septiembre)
Fernandez, Pablo; Bermejo, Vicente J. - IESE Business School, Universidad de Navarra - 2008
En 2008 (hasta el 17 de septiembre), la rentabilidad de la bolsa española fue -25,9%, y hubo nueve empresas (entre 125) con rentabilidad positiva. Las 125 empresas destruyeron valor para sus accionistas por importe de 267 millardos de euros. Considerando conjuntamente 2007 y 2008 (hasta el 17...
Persistent link: https://www.econbiz.de/10005021701