Extended Dividend, Cash Flow and Residual Income ValuationModels - Accounting for Deviations from Ideal Conditions

Standard equity valuation approaches (i.e., DDM, RIM, and DCF) are derivedunder the assumption of ideal conditions, such as infinite payoffs and cleansurplus accounting. Since these conditions are hardly ever met, we provideextensions of the standard approaches based on the fundamental principle ofintegrated financial planning. Empirically, our extended models yieldconsiderably smaller valuation errors...

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Year of publication:	2009-04-01
Authors:	Hess, Dieter ; Homburg, Carsten ; Lorenz, Michael ; Sievers, Soenke
Institutions:	Universität <Köln> / Seminar für Allgemeine Betriebswirtschaftslehre und Controlling
Subject:	Bewertung \| Wachstumsmodell \| Neoclassical Growth Model \| Mehrwert \| Steadystate <Wirtschaft> \| Einkommen \| income \| Restwert \| Terminal Value \| Discounted-Cash-Flow-Methode \| Discounted-Cash-Flow-Method

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Extent:	424960 bytes 54 p. application/pdf
Series:	Corporate Finance Seminar - Veröffentlichungen
Type of publication:	Book / Working Paper
Language:	English
Classification:	G12 - Asset Pricing ; G14 - Information and Market Efficiency; Event Studies ; M41 - Accounting ; Financial theory ; Capital budgeting, budgetary planning and budgetary control ; Employment of capital, capital investment planning and estimate of investment profitability ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005866810