This paper concerns the terminal value calculation, represented by {numerator/(r-g)} where r and g define, respectively, the discount factor and the growth rate. Expressions of this kind derive from discounting a geometric series of payoffs, the Gordon-Williams model providing the prototype....

How do you value companies which have IPOed recently? How do you compare them amongst their peers? Valuing companies using a linear extrapolation of their revenues and profits leads to an ingenious method to benchmark stocks against each other. Here we present such a method, dubbed the growth...

Chapter 1: Growth – an Introduction -- Chapter 2: Growth Rates -- Chapter 3: Global Perspective -- Chapter 4: Strategy and Business -- Chapter 5: Organizational Impact and Corporate Culture -- Chapter 6: Growth Resources –Acquisition -- Chapter 7: Allocation of Resources -- Chapter 8: Market...

Multiannual periods of consecutive above-median or below-median growth rates in operating performance, called runs, have a substantial influence on firm valuations. For estimating the probability of an above-median or below-median run and utilizing information efficiently, we employ a stepwise...