paper outlines an approximate procedure for handling operating leases in valuation models, in particular the discounted cash … are very close to the known, exact values in a stylized example problem. Naive valuation (that makes both errors) results …

The influential valuation book by an author team from McKinsey recommends the so-called value driver formula rather … valuation. This recommendation has had considerable impact on valuation practice. This paper points out two weaknesses of the … same valuation result, implying that the original value driver formula is not necessary. The second weakness is that the …

The discounted cash flow model, like other firm valuation models, proceeds in two periods. For each year in the …

Two valuation models based on accounting concepts and measurements are specified and discussed in the paper - a … "residual income valuation" model and a "value added valuation" model. Given clean surplus accounting, the first model is …. Similarly, the second model is identical to a free cash flow valuation framework, as specified in the well-known "McKinsey model …

methods for loan subsidy valuation have been suggested in the literature and by project appraisal practice. Four methods are …

exemplifying valuation included (of a company called McKay), as an illustration. A number of other valuation models (abnormal … working paper were entitled "A Tutorial on the McKinsey Model for Valuation of Companies". …

The forecasting of operating lease expense in valuation models like the discounted dividends model is more complex than …

In this paper we study the changes in corporate valuation, investments, and financing choices induced by the formation …