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Table Of Contents

Assets-in-Place
Value of Operations
Nonoperating Assets
Total Corporate Value
Claims on Corporate Value
Applying the Corporate Valuation Model
Data for Valuation
Value of Operations: Constant FCF Growth at Rate of g
Constant Growth Formula
Constant Growth Formula (Cont.)
Find Value of Operations
Intrinsic Market Value Added (MVA)
Breakdown of Corporate Value
Expansion Plan: Nonconstant Growth
Horizon Value
Horizon Value (Cont.)
Horizon Value Formula
Value of operations is PV of FCF discounted by WACC
Value-Based Management (VBM)
MVA and the Four Value Drivers
MVA for a Constant Growth Firm
Insights from the Constant Growth Model
Insights (Cont.)
Improvements in MVA due to the Value Drivers
The Impact of Growth
The Impact of Growth (Cont.)
Expected Return on Invested Capital (EROIC)
MVA in Terms of Expected EROIC and Value Drivers
MVA in Terms of Expected EROIC
The Impact of Growth on MVA
What is the impact on MVA if growth goes from 5% to 6%?
Expected ROIC and MVA
Analysis of Growth Strategies
Six Potential Problems with Managerial Behavior
Six Problems with Managerial Behavior (Continued)
Corporate Governance
Anti-Takeover Provisions
Stock Options in Compensation Plans
Stock Options (Cont.)
Problems with Stock Options
Block Ownership
Regulatory Systems and Laws
P. 1
Ch. 13 -13ed Corporate Valuation - Master

Ch. 13 -13ed Corporate Valuation - Master

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Published by bharat

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Categories:Business/Law
Published by: bharat on May 26, 2012
Copyright:Attribution Non-commercial
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04/17/2013

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