The discount rate is one of the most critical variables in every equity valuation. Against this background it is surprising that so far there is no generally accepted definition of this term. Literature provides quite different definitions: expected returns, conditionally expected returns or...

Corporate valuation using multiples is one of the most popular corporate valuation approaches. In this book, the different steps of this valuation approach such as the selection of comparable companies or the choice of the reference variables are discussed. Then, the circumstances required for a...