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http://hdl.handle.net/11375/21027
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DC Field | Value | Language |
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dc.contributor.author | Balvers, Ronald J. | - |
dc.contributor.author | Michael Lee-Chin & Family Institute for Strategic Business Studies | - |
dc.date.accessioned | 2017-02-02T17:48:32Z | - |
dc.date.available | 2017-02-02T17:48:32Z | - |
dc.date.issued | 2016-12 | - |
dc.identifier.uri | http://hdl.handle.net/11375/21027 | - |
dc.description | 58 p. ; "December 2016." | en_US |
dc.description.abstract | A survey discussing fundamental conceptual issues in valuation. Topics include differences in fundamental valuation, comparative valuation, and replacement-value based valuation; accounting approaches to valuation such as residual income as contrasted with discounted cash flows; the use of valuation ratios based on earnings, dividends, and return on investment; the roles of different types of real capital in valuation depending on whether capital is tangible, intangible, or working capital; and the use of stochastic discount factors in valuation. Various pitfalls leading to common mistakes in valuation are discussed. In addition several applications are presented. Valuation Insight: The survey provides insight into a series of common errors in valuation. These include the inconsistent application of inflation corrections; the impact of predictability in asset prices; the inappropriate adjustment for leverage; incorrect treatment of default risk; insufficient application of the yield curve to account for cash flow duration; and the improper usage of earnings for valuation purposes. | en_US |
dc.language.iso | en | en_US |
dc.relation.ispartofseries | Michael Lee-Chin & Family Institute for Strategic Business Studies Working Paper ; 2016-02 | - |
dc.title | Asset valuation | en_US |
dc.type | Other | en_US |
dc.contributor.department | None | en_US |
Appears in Collections: | Michael Lee-Chin & Family Institute for Strategic Business Studies Working Paper Series |
Files in This Item:
File | Description | Size | Format | |
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sbv_wp_2016-02.pdf | 805.37 kB | Adobe PDF | View/Open |
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