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Investment Valuation Tools and Techniques for Determining the Value of any Asset.pdf
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1300页的超大型投资估值，金融估值资料，内容超级丰富，简介如下！
Investment Valuation: Tools and Techniques for Determining the Value of any Asset
Updated edition of the definitive guide to investment valuation tools and techniques Investment Valuation: Tools and Techniques for Determining the Value of Any Asset delves into valuation techniques for a variety of different asset classes, including real options, start-up firms, unconventional assets, distressed companies and private equity, real estate, and many more, and explains how to choose the right model for any given asset valuation scenario. The models are presented with real-world examples so as to capture some of the problems inherent in applying these models, with discussion of differences and common elements between the models to provide readers with a holistic understanding of the subject matter. Written by a professor of finance who is widely regarded as one of the best educators and thinkers on the topic of investment valuation, this newly revised and updated Fourth Edition explores topics including: Understanding financial statements, the basics of risk, and tests and evidence for market efficiency Estimating risk parameters and costs of financing, terminal value, and equity value per share Using scenario analysis, decision trees, and simulations for probabilistic approaches in valuation Investment Valuation: Tools and Techniques for Determining the Value of Any Asset is an essential resource for all investors and students of financial markets seeking an all-in-one guide to expand their valuation knowledge and make better investment decisions.
Notes
Chapter 2 Approaches to Valuation
Intrinsic Valuation
Pricing or Relative Valuation
Contingent Claim Valuation
Conclusion
Questions and Short Problems
Notes
Chapter 3 Understanding Financial Statements
The Basic Accounting Statements
Asset Measurement and Valuation
Measuring Financing Mix
Measuring Earnings and Proitability
Measuring Risk
Other Issues in Analyzing Financial Statements
Conclusion
Questions and Short Problems
Notes
Chapter 4 The Basics of Risk
What Is Risk?
Equity Risk and Expected Return
Alternative Models for Equity Risk
A Comparative Analysis of Equity Risk Models
Models of Default Risk
Conclusion
Questions and Short Problems
Notes
Chapter 5 Option Pricing Theory and Models
Basics of Option Pricing
Option Pricing Models
Extensions of Option Pricing
Conclusion
Questions and Short Problems
Notes
Chapter 6 Market Eficiency—Deinition, Tests, and Evidence
Market Eficiency and Investment Valuation
What Is an Eficient Market?
Testing Market Eficiency
Cardinal Sins in Testing Market Eficiency
Some Lesser Sins That Can Be a Problem
Evidence on Market EfTime Series Properties of Price Changes
Market Reaction to Information Events
Market Anomalies
Evidence on Insiders and Investment Professionals
Conclusion
Questions and Short Problems
Notes
Chapter 7 Riskless Rates and Risk Premiums
The Risk-Free Rate
Chapter 7 Riskless Rates and Risk Premiums
The Risk-Free Rate
Equity Risk Premium
Default Spreads on Bonds
Conclusion
Questions and Short Problems
Notes
Chapter 8 Estimating Risk Parameters and Costs of Financing
The Cost of Equity and Capital
Cost of Equity
From Cost of Equity to Cost of Capital
Best Practices at Firms
Conclusion
Questions and Short Problems
Notes
Chapter 9 Measuring Earnings
The Lead-in: From Accounting Data to Financial Information
Adjusting Earnings
Measuring Earnings Power: Clean Up and Time Differences
Conclusion
Questions and Short Problems
Notes
Chapter 10 From Earnings To Cash Flows
The Tax Effect
Reinvestment Needs
Conclusion
Questions and Short Problems
Notes
Chapter 11 Estimating Growth
The Importance of Growth
Historical Growth
Outsourcing Growth
Fundamental Determinants of Growth
Top-Down Growth: From Revenue Growth to Free Cash Flows
Qualitative Aspects of Growth
Conclusion
Questions and Short Problems
Notes
Chapter 12 Closure in Valuation: Estimating Terminal Value
Closure in Valuation
The Survival Issue
Closing Thoughts on Terminal Value
Conclusion
Questions and Short Problems
Notes
Chapter 13 Narrative and Numbers – Story to Value
Valuation as a Bridge
The Importance of Storytelling
The Dangers in Storytelling
From Story to Numbers: The Process
Narrative and Numbers Across the Life Cycle
Story Resets, Changes, and Breaks
Conclusion
Questions and Short Problems
Notes
Chapter 14 Equity Intrinsic Value Models
Equity Valuation
The Dividend Discount Model
The Augmented Dividend Discount Model
Potential Dividend or FCFE Models
FCFE Valuation Versus Dividend Discount Model Valuation
Conclusion
Questions and Short Problems
Notes
Chapter 15 Firm Valuation: Cost of Capital and Adjusted Present
Value Approaches
Free Cash Flow to the Firm
Firm Valuation: The Cost of Capital Approach
Firm Valuation: The Adjusted Present Value Approach
Firm Valuation: Sum of the Parts
Effect of Leverage on Firm Value
Conclusion
Questions and Short Problems
Notes
Chapter 16 Estimating Equity Value per Share
Value of Nonoperating Assets
Firm Value and Equity Value
Stock-Based Compensation
Value per Share When Voting Rights Vary
Conclusion
Questions and Short Problems
Notes
Chapter 17 Fundamental Principles of Relative Valuation
Use of Relative Valuation
Standardized Values and Multiples
Four Basic Steps to Using Multiples
Reconciling Relative and Discounted Cash Flow Valuations
Conclusion
Questions and Short Problems
Notes
Chapter 18 Earnings Multiples
Price-Earnings Ratio
The PEG Ratio
Other Variants on the PE Ratio
Enterprise Value to EBITDA Multiple
Conclusion
Questions and Short Problems
Notes
Chapter 19 Book Value Multiples
Price-to-Book Equity
Value-to-Book Ratios
Tobin’S Q: Market Value/Replacement Cost
Conclusion
Questions and Short Problems
Notes
Chapter 20 Revenue Multiples and Sector-Speci
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