"Throughout his storied career, Aswath Damodaran has searched for the universal key to demystify corporate finance and valuation. Now, at last, he offers the groundbreaking answer to readers everywhere. It turns out there is a corporate lifecycle very much like our own - with unique stages of...

In valuation practice, it is common to use point estimates for input variables to arrive at a point estimate of value. This practice has its roots in the twentieth century, where data was difficult or expensive to access, and practitioners had weak tools. As data becomes more accessible and...

Investors have to be offered risk premiums to invest in risky assets. These risk premiums take different forms in different asset markets: equity risk premiums (ERP) in stock markets, default spreads in bond markets and real asset premiums in other asset markets. These premiums have their roots...