Kapitalwertorientierte Bewertungsverfahren, internationale Rechnungslegung, Entscheidungsnützlichkeit, Zweitwertbilanzierung, Corporate Finance, immaterielle Vermögenswerte, Monte-Carlo-Simulation, Wechselkursprognose. - Income approach for valuation, international financial reporting...

Project finance (PF) investments have consistently grown in the last years, especially if they concern infrastructural Public-Private Partnerships. PF is a long termed and capital intensive investment, guaranteed by expected cash flows, rather than the assets of the project sponsor. Private...

Based on interviews with major investment banks, we report how these leading practitioners apply discounted cash flow (DCF) techniques to value business enterprises. We find considerable alignment among the advisors and between practice and academic advice on major themes, including assessments...

The Discounted Cash Flow Model (DCF) and the Capital Asset Pricing Model (CAPM) are often used to determine an appropriate return on equity for regulated utilities. However, both the CAPM and the DCF will sometimes produce unrealistically high or low results during times of excess market...

The typical discounted cash flow model used to value assets openly projects cash flows for an initial set of years and then typically assumes that the cash flows will grow at a constant rate into the indefinite future. In this paper, we discuss the implications for valuation and the discount...

Principles of Cash Flow Valuation, published by Academic Press, Elsevier, in 2004, is the only book available that focuses exclusively on cash flow valuation, with a special emphasis on the Capital Cash Flow (CCF) approach.This text provides a comprehensive and practical, market-based framework...