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Year of publication
Subject
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Kapitalwertmethode 569 Net present value method 539 Unternehmensbewertung 287 Firm valuation 278 Theorie 183 Theory 183 Cash Flow 171 Cash flow 171 Deutschland 97 Germany 92 Discounting 55 Diskontierung 55 Betriebliche Finanzwirtschaft 54 Managerial finance 54 CAPM 43 Firm value 36 Unternehmenswert 36 Kapitalkosten 35 Cost of capital 34 Financial analysis 34 Finanzanalyse 34 Immobilienbewertung 31 Investitionsrechnung 31 Real estate appraisal 31 Real options analysis 28 Realoptionsansatz 28 USA 28 United States 28 Börsenkurs 27 Share price 27 Investment appraisal techniques 24 discounted cash flow 22 Corporate finance 20 Estimation 20 Risk 20 Schätzung 20 Unternehmensfinanzierung 20 Ertragswert 18 IFRS 18 Comparison 17
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Online availability
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Free 113 Undetermined 78 CC license 4
Type of publication
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Article 318 Book / Working Paper 253
Type of publication (narrower categories)
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Article in journal 236 Aufsatz in Zeitschrift 236 Aufsatz im Buch 77 Book section 77 Hochschulschrift 63 Graue Literatur 57 Non-commercial literature 57 Arbeitspapier 49 Thesis 49 Working Paper 49 Bibliografie enthalten 11 Bibliography included 11 Dissertation u.a. Prüfungsschriften 10 Collection of articles of several authors 8 Sammelwerk 8 Case study 6 Fallstudie 6 Lehrbuch 6 Textbook 6 Collection of articles written by one author 4 Conference paper 4 Konferenzbeitrag 4 Sammlung 4 Systematic review 2 Übersichtsarbeit 2 Advisory report 1 Aufsatzsammlung 1 Diskette 1 Festschrift 1 Floppy disk 1 Forschungsbericht 1 Glossar enthalten 1 Glossary included 1 Guidebook 1 Gutachten 1 Mehrbändiges Werk 1 Multi-volume publication 1 Ratgeber 1 Reprint 1 Software 1
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Language
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English 293 German 271 Undetermined 5 French 1 Slovak 1 Spanish 1
Author
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Kruschwitz, Lutz 10 Löffler, Andreas 10 Schüler, Andreas 9 Jagannathan, Ravi 6 Ballwieser, Wolfgang 5 Larrain, Borja 5 Schultze, Wolfgang 5 Yogo, Motohiro 5 Bottazzi, Giulio 4 Casey, Christopher 4 Cordoni, Francesco 4 Da, Zhi 4 Dierkes, Stefan 4 French, Nick 4 Henselmann, Klaus 4 Livieri, Giulia 4 Lundberg, Jacob 4 Marmi, Stefano 4 Mele, Gianluca 4 Saez, Emmanuel 4 Sahut, Jean-Michel 4 Schwetzler, Bernhard 4 Shen, Jianfeng 4 Waldenström, Daniel 4 Zucman, Gabriel 4 Baetge, Jörg 3 Bridts, Wilfried 3 Broekelschen, Wiebke 3 Demirkan, Sebahattin 3 Diedrich, Ralf 3 Fernández, Pablo 3 Geltinger, Andreas 3 Haeseler, Herbert R. 3 Holden, Steve 3 Hörmann, Franz 3 Jacob, Dieter 3 Jordà, Òscar 3 Kappenberg, Christoph Josef 3 Kelly, Austin 3 Knoll, Katharina 3
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Institution
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National Bureau of Economic Research 5 Gottfried Wilhelm Leibniz Universität Hannover 2 Deutschland / Bundesministerium für Verkehr, Bau und Stadtentwicklung 1 Eric Cuvillier <Firma> 1 Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues - GEWISOLA 1 Shaker Verlag 1 Springer Fachmedien Wiesbaden 1 Technische Universität Bergakademie Freiberg / Fakultät für Wirtschaftswissenschaften 1 Verlag Dr. Kovač 1 Werner Verlag 1 Wissenschaftlicher Verlag Berlin 1
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Published in...
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Finanz-Betrieb : FB ; Zeitschrift für Unternehmensfinanzierung und Finanzmanagement 20 SpringerLink / Bücher 10 Journal of business valuation and economic loss analysis 8 Journal of property investment & finance 8 WPg : Kompetenz schafft Vertrauen 8 Corporate finance : Finanzierung, Kapitalmarkt, Bewertung, Mergers & Acquisitions 7 Betriebswirtschaftliche Forschung und Praxis : BFuP 6 Journal of business economics : JBE 6 Working paper / National Bureau of Economic Research, Inc. 6 Die Betriebswirtschaft : DBW 5 Discussion paper / Centre for Economic Policy Research 5 Disskussionsbeitrag / Arqus, Arbeitskreis Quantitative Steuerlehre 5 NBER working paper series 5 Unternehmensbewertung : theoretische Grundlagen - praktische Anwendung ; Festschrift für Gerwald Mandl zum 70. Geburtstag 5 Asian journal of management cases 4 Betriebswirtschaftliche Studien, Rechnungs- und Finanzwesen, Organisation und Institution 4 Corporate finance / Biz 4 Forschungsreihe Rechnungslegung und Steuern 4 Gabler Edition Wissenschaft 4 International journal of business 4 Praxishandbuch Unternehmensbewertung : Grundlagen, Methoden, Fallbeispiele 4 Praxishandbuch der Unternehmensbewertung : [Online-Version inklusive] 4 Technological innovation : generating economic results 4 The journal of private equity 4 The valuation handbook : valuation techniques from today's top practitioners 4 Appraisal journal 3 Europäische Hochschulschriften / 5 3 Forum Unternehmenskauf : aus dem Münsteraner Studiengang Mergers & Acquisitions 3 International journal of business and globalisation : IJBG 3 International journal of entrepreneurial venturing 3 Jahrbuch für Controlling und Rechnungswesen 3 Rating von Einzelhandelsimmobilien : Qualität, Potenziale und Risiken sicher bewerten 3 Review of accounting studies 3 Springer eBook Collection 3 The engineering economist : a journal devoted to the problems of capital investment ; a joint publication of the Engineering Economy Division of the American Society for Engineering Education and American Institute of Industrial Engineers 3 Working papers / IESE Business School, University of Navarra 3 Arbeitspapiere des Lehrstuhls / Westfälische Wilhelms-Universität, Münster, Lehrstuhl für Betriebswirtschaftslehre insbesondere Controlling 2 Bank-Praktiker : rechtssicher, revisionsfest, risikogerecht 2 Betriebswirtschaftliche Forschung zur Unternehmensführung 2 CESifo working papers 2
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Source
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ECONIS (ZBW) 554 USB Cologne (EcoSocSci) 14 RePEc 3
Showing 1 - 50 of 571
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Measuring the asset value of petroleum resources in Norway
Liu, Gang; Midttun, Sindre - 2025
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The nationalization of the large-scale copper mines in Chile : successful investment or financial failure?
González, Andrés; Sánchez, Felipe; Castillo, Emilio - In: Mineral economics : raw materials report 37 (2024) 4, pp. 787-807
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The present value discounting convention errors in uniform intra-period cash flow distributions
Broere, Mark; Matthes, Roland - In: Decision analytics journal 10 (2024), pp. 1-8
This study compares the estimation errors of several present value discounting conventions (end-of-year, mid-year, and the more recently proposed harmonic mean convention) for a uniform distribution of intra-period cash flow - continuous and discrete. Our results show that the mid-year...
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The Erosive and Positive Effects of Risk and Growth on Binomial Discounted Cash Flows, as a Function of the Investment Horizon
Martin, Yoann - 2023
This paper formulates the Discounted Cash Flows formed by an underlying economic activity, of any kind, following a binomial evolution and introducing the possibility of measuring its effects on its value. This binomial economic activity is described in accounting terms, able to capture the...
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Meta-Heuristic Algorithm Frameworks for a Subcontracted Capital- and Resource-Constrained Project Scheduling Problem with Discounted Cash Flows
Nouri, Saeed; Hassannayebi, Erfan; Bagheri, Mohsen - 2023
Over recent years, a fairly large number of project scheduling problems have been focused on maximizing the Net Present Value (NPV) of cash flows during the project. From the contractor's point of view, cash inflows generally represent their revenues, and cash outflows are expenditures. In most...
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The value impact of using total market return and its implications for valuation practice
Baumgartner, Johannes; Schüler, Andreas - In: Credit and capital markets : Kredit und Kapital 56 (2023) 3/4, pp. 389-418
The objective of this paper is to analyze the suitability of the Total Market Return approach within the requirements of the capital asset pricing model, and for the purpose of business valuation, particularly in light of its endorsement by the institute of German auditors (IDW). First, we...
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Inflation and valuation practice : German evidence
Schüler, Andreas; Wünsche, Sebastian - In: Schmalenbach journal of business research : SBUR 75 (2023) 2, pp. 239-266
The objective of our paper is to analyze, how valuation practice deals with inflation especially for the terminal value, and how company value is influenced by assumptions set by practitioners. For that reason, we examine how vulnerable companies could be regarding struggles to pass on...
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Thermodynamic approach to the discount rate and discounted cash flow method
Dobija, Mieczysław; Renkas, Jurij - In: Risks : open access journal 11 (2023) 7, pp. 1-12
Current theories of the discount rate have a theoretical basis focused on risk; risk-free rate and risk premium. The basic component of the discount rate, the risk-free rate as purely empirical has a natural infirmity which consequently weakens the final theory. Similarly, the risk premium...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014335923
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Uncertainty in firm valuation and a cross-sectional misvaluation measure
Bottazzi, Giulio; Cordoni, Francesco; Livieri, Giulia; … - In: Annals of finance 19 (2023) 1, pp. 63-93
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Reserve Volume Under Oil Price Uncertainty : Real Options Versus Discounted Cash Flow
Dias, Marco Antonio; Borges, Roberto E. - 2023
Volumes of oil reserves are important indicators of energy availability in the future since it is still the world’s main source of energy. In this paper, we estimate the oil reserve volume under oil price uncertainty using the traditional discounted cash flow (DCF) and the real options theory...
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Interglobe Aviation Limited : the valuation conundrum
Sriram, M. - In: Asian journal of management cases 22 (2025) 1, pp. 29-43
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Epstein-Zin-Based Equity Valuation
Henriksen, Andreas Birkmann; Dyhr Sørensen, Michael - 2022
The valuation of equities remains a challenge both in practice and in theory. The value of an asset must reflect the present value of the future payments that accrue to the holder of the asset. Hence, the key question in equity valuation is how to determine the value today of a sequence of...
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A mathematical theory of accounting and discounted cash flows
Martin, Yoann - 2022
This paper develops a novel theory of accounting, in the form of a quantitative language, capable of reformulating, generalizing, and studying the discounted cash flow model, in plain accounting terms - going through the reformulation of the underlying future cash flows and their financing. This...
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A Mathematical Theory of Accounting and Discounted Cash Flows
Martin, Yoann - 2022
This paper develops a novel theory of accounting, in the form of a quantitative language, capable of reformulating, generalizing, and studying the discounted cash flow model, in plain accounting terms - going through the reformulation of the underlying future cash flows and their financing. This...
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A new method to estimate NPV and IRR from the capital amortization schedule and the advantages of the new method
Arjunan, Kannapiran - In: Australasian accounting business and finance journal : AABF 16 (2022) 6, pp. 23-44
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Do you really know your cost of capital?
Keloharju, Matti; Linnainmaa, Juhani; Nyberg, Peter - In: Journal of applied corporate finance : JACF 34 (2022) 3, pp. 116-128
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Earnings growth rates in business valuation models : the impossible quaternity
Nguyen, Kim-Duc; Pham Khanh Nam - In: Global finance journal 60 (2024), pp. 1-18
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Das vereinfachte Ertragswertverfahren und der bewertungsrechtliche Substanzwert : Anwendung, Wertermittlung, erbschaftsteuerliche Auswirkungen und Betriebsprüfung
Kowanda, Markus - 2024 - 2., völlig neubearbeitete Auflage
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An exact decomposition technique for the deadline-constrained discrete time/cost trade-off problem with discounted cash flows
Yazdani, Majid; Aouam, Tarik; Vanhoucke, Mario - In: Computers & operations research : an international journal 163 (2024), pp. 1-21
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Modeling different REIT cash flows
Manda, Tamala Amelia - 2024
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EDSAI education : start-up valuation amidst nCOVID-19
Kulshrestha, Ankur; Chhillar, Palka - In: Asian journal of management cases 21 (2024) 1, pp. 48-56
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Fundamental analysis : a practical approach
Koutoupis, Andreas G.; Davidopoulos, Leonidas G. - 2024
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Practice briefing: the implications of a move towards explicit discounted cash flow (DCF) models for property investment valuations
Frodsham, Malcolm - In: Journal of property investment & finance 42 (2024) 4, pp. 380-395
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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...
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Understanding asset price dynamics in the presence of option hedging, circuit breakers and cash flow growth
Ulmann, Florian - 2021
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Determination of Intrinsic Value : Dividend Discount Model and Discounted Cash Flow Methods in Indonesia Stock Exchange
Sutjipto, Eddy; Setiawan, Wawan; Ghozali, Imam - 2021
The COVID-19 pandemic which began at the end of 2019, it turned out to be very influential in the significant decline in share prices. It can be seen from the Composite Stock Price Index (IHSG) until mid-March 2020, which has fallen by 37% and the average share price of 669 issuers has decreased...
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Kapitalwert bei Null- und Negativzinsen
Dilger, Alexander - 2021
Der Kapitalwert lässt sich auch bei Null- und Negativzinsen zumindest über endliche Zeiträume einfach berechnen sowie betriebswirtschaftlich für Investitionsentscheidungen sinnvoll ver­wen­den. Volkswirtschaftlich ist relevant, warum es Zinsen von und unter null überhaupt gibt und ob...
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Cross-border DCF valuation : discounting cash flows in foreign currency
Schüler, Andreas - In: Journal of business economics : JBE 91 (2021) 5, pp. 617-654
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Modellbewertung derivativer Finanzinstrumente von systemrelevanten Finanzinstituten : Risikowahrnehmung auf dem Kapitalmarkt
Bednarovschi, Paul - 2021
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Windenergie am freien Markt : eine Analyse der Wirtschaftlichkeit von Windenergieanlagen nach Auslaufen der Förderung durch das Enerneuerbare-Energien-Gesetz 2000
Bremm, Sarah; Wurzel, Joscha - 2023
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Digital Token Valuation : Cryptocurrencies, NFTs, Decentralized Finance, and Blockchains
Moro Visconti, Roberto; Cesaretti, Andrea - 2023
1. Introduction -- 2. Asset Class Taxonomy and General Valuation Approaches -- 3. The Scalable Valuation of digital intangibles -- 4. Cryptocurrencies and Non-Fungible Tokens -- 5. Digital Art and Non-FungibleTokens -- 6. Blockchains, Internet of Value, and Smart Transactions -- 7. The Metaverse...
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Daimler and its stake in Tesla
Schüler, Andreas - In: Journal of financial education 46 (2020) 2, pp. 354-369
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Investigation of relative superiority of business valuation methods
Zekany, Kay; Essayyad, Musa - In: International journal of monetary economics and finance … 16 (2023) 5, pp. 417-425
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Property capitalisation rates : benchmarking the property market
Camilleri, Denis - In: Journal of property investment & finance 41 (2023) 3, pp. 341-345
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An analysis on production and inventory models with discounted cash-flows
Ghiami, Yousef - In: Omega : the international journal of management science 117 (2023), pp. 1-17
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Valuation uncertainty and analysts' use of DCF models
Huang, Shengzhong; Tan, Hongping; Xiongyuan, Wang; Yu, … - In: Review of accounting studies 28 (2023) 2, pp. 827-861
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Stock Recommendations from Stochastic Discounted Cash Flows
Bottazzi, Giulio - 2020
Portfolio recommendations should include, beyond an estimate of the expected return on the investment, also an assessment of the associated level of risk. This paper introduces a simple methodology to assign stock recommendations based on a firm valuation procedure that replaces the conventional...
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The most common error in valuations using WACC
Fernández, Pablo - 2020
To value shares there are two usual methods that, if properly applied, provide the same value: 1/ Present value of expected free cash flows (FCF) discounted with the WACC rate and then, subtract the value of debt; and 2/ Present value of expected equity cash flows (ECF) discounted with the Ke...
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A wrong valuation using WACC and the right solution
Fernández, Pablo - 2020
This paper presents a real valuation performed by a well-known investment bank, with two common errors and with two very different values for the equity of a firm:a) €6,9 million calculating the Present Value of expected free cash flows (FCF) discounted with the WACC rate and then, subtracting...
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Do acquirer announcement returns reflect value creation?
Ben-David, Itzhak; Bhattacharya, Utpal; Jacobsen, Stacey E. - 2020
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Uncertainty in firm valuation and a cross-sectional misvaluation measure
Bottazzi, Giulio; Cordoni, Francesco; Livieri, Giulia; … - 2020
In all investment decisions it is important to determine the degree of uncertainty associated with the valuation of a company. We propose an original and robust methodology to company valuation which replaces the traditional point estimate of the conventional Discounted Cash Flow (DCF) with a...
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Life Cycle Cash Flows of Ventures
Ouyang, Shumiao - 2020
We estimate the collective return to all investors in ventures in our sample over their life cycle. The net present value per dollar invested in the first round of funding (NPV) is significantly positive on average but comes down after 1999. The structural break follows the passage of the...
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Do Acquirer Announcement Returns Reflect Value Creation?
Ben-David, Itzhak - 2020
Stock returns around acquisition announcements are widely viewed as being reflective of the net present value created by these transactions. As such, announcement returns should correlate with acquisition outcomes. Using a new measure of realized transaction-level acquisition failure, as well as...
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Asset-Deal vs. Share-Deal : Unternehmensbewertung im Rahmen der DCF-Verfahren unter Risiko
Julich, Nadja - 2020
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Life cycle cash flows of ventures
Ouyang, Shumiao; Yu, Jiaheng; Jagannathan, Ravi - 2020
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A stochastic Gordon-Shapiro formula with excess volatility
Kruschwitz, Lutz; Löffler, Andreas - 2020 - Version from May 29, 2020
It is well-known that stock prices fluctuate far more than dividends. Traditional valuation methods are not able to depict this fact. In this paper we incorporate excess volatility into a simple DCF model by considering an autoregressive cash flows process with random coefficients. We show that...
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Stock recommendations from stochastic discounted cash flows
Bottazzi, Giulio; Cordoni, Francesco; Livieri, Giulia; … - 2020
This paper presents two stocks recommendation systems based on a stochastic characterization of firm present value that extends the conventional discounted cash flow analysis. In the Single-Stock Quantile recommendation system, the market price of a company's stocks is compared with the...
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The Discounted Cash Flow Terminal Value Model As an Investment Strategy
Rasmussen, Henrik; Thormann, Andre - 2019
To determine a company’s intrinsic value, equity analysts make forecasts several years into the future, although the value generated in the explicit forecast period only represents a small part of the total valuation. Instead, most of a company’s value is determined in the terminal period -...
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Consistent Treatment of Inflation in Discounted Cash Flow Valuation
Cornell, Bradford - 2019
Since the mid-1960s inflation has been a consistent aspect of the U.S. economy. Even at the relatively low rates of approximately 2% that prevail today, inflation can have an important impact on property tax appraisal and must be treated consistently. In this paper, we derive the proper formulas...
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Discounted Cash Flow Valuation Methods : Examples of Perpetuities, Constant Growth and General Case
Fernandez, Pablo - 2019
This paper explores the discounted cash flow valuation methods. We start the paper with the simplest case: no-growth, perpetual-life companies. Then we will study the continuous growth case and, finally, the general case. lt;brgt;lt;brgt;The different concepts of cash flow used in company...
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