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Quis Pendit Ipsa Pretia : Facebook Valuation and Diagnostic of a Bubble Based on Nonlinear Demographic Dynamics
Cauwels, Peter - 2019
We present a novel methodology to determine the fundamental value of firms in the social-networking sector, motivated by recent realized IPOs and by reports that suggest sky-high valuations of firms such as Facebook, Groupon, LinkedIn Corp., Pandora Media Inc, Twitter, Zynga. Our valuation of...
Persistent link: https://www.econbiz.de/10012905457
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Quis pendit ipsa pretia : facebook valuation and diagnostic of a bubble based on nonlinear demographic dynamics
Cauwels, Peter; Sornette, Didier - In: The journal of portfolio management : a publication of … 38 (2012) 2, pp. 56-66
Persistent link: https://www.econbiz.de/10009669832
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Excess returns and the distinguished player paradox
Blonski, Matthias (contributor);  … - 2008
Suppose the value of a firm is endogenously determined by a manager's costly effort. We call this manager a distinguished player if he also can trade shares of the firm on a market. Arbitrage-free asset pricing theory suggests that the equilibrium market price reflects the value increasing...
Persistent link: https://www.econbiz.de/10003776197
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How to Value Private Companies using Multiples and Discounted Cash Flow Analysis
Burgess, Nicholas - 2021
In this paper we outline how to value private companies and work through a real case study. The corporate finance and valuation techniques on display can be used to value any private company or project that is illiquid with little or no market data. Together with this paper we provide the full...
Persistent link: https://www.econbiz.de/10013226021
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Issuance and Valuation of Corporate Bonds with Quantitative Easing
Pegoraro, Stefano; Montagna, Mattia - 2021
After the announcement of the European Central Bank’s corporate quantitative easing program, non-financial corporations timed the bond market by shifting their issuance toward bonds eligible for the program. However, issuers of eligible bonds did not increase total issuance compared to other...
Persistent link: https://www.econbiz.de/10013233626
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Issuance and Valuation of Corporate Bonds with Quantitative Easing
Pegoraro, Stefano; Montagna, Mattia - 2021
After the announcement of the European Central Bank’s corporate quantitative easing program, non-financial corporations timed the bond market by shifting their issuance toward bonds eligible for the program. However, issuers of eligible bonds did not increase total issuance compared to other...
Persistent link: https://www.econbiz.de/10013243816
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Bubbles and incentives : a post-mortem of the Neuer Markt in Germany
Kalckreuth, Ulf von; Silbermann, Leonid - 2010
This paper aims to shed light on some of the major allocative consequences of financial market bubbles. In March 1997 … of corporate financing shows that bubbles on financial markets will induce entrepreneurs and providers of external … the success of the enterprises considered. -- Bubbles ; corporate governance ; quantile regressions ; nonparametric …
Persistent link: https://www.econbiz.de/10008653397
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Is Internet Industry Facing an IPO Bubble 2.0?
Sousa, Miguel - 2015
During the so called dot-com bubble period in the late 1990s, the question of whether the Internet stock prices could be explained or not by companies' fundamentals was intensely discussed and studied. Ten years later, the high valuations of recent Internet IPOs, justified mostly on the basis of...
Persistent link: https://www.econbiz.de/10013031634
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Issuance and Valuation of Corporate Bonds with Quantitative Easing
Pegoraro, Stefano - 2020
After the announcement of the corporate quantitative easing program by the European Central Bank, nonfinancial corporations timed the corporate bond market by shifting their issuance toward bonds that were eligible for the program. However, issuers of eligible bonds did not increase total...
Persistent link: https://www.econbiz.de/10012853988
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Modellierung des Kreditrisikos im Einwertpapierfall
Cremers, Heinz; Walzner, Jens - 2009
The current financial market crisis has impressively demonstrated the importance of an effective credit risk management for financial institutions. At the same time, the use and the valuation of credit derivatives has been widely criticised as a result of the crisis. Over the past decade, credit...
Persistent link: https://www.econbiz.de/10003874931