Private company valuation: how credit risk reshaped equity markets and corporate finance valuation tools
Gespeichert in:
| Beteilige Person: | |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
Basingstoke [u.a.]
Palgrave Macmillan
2012
|
| Ausgabe: | 1. publ. |
| Schlagwörter: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025430569&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Umfang: | XIX, 301 S. graph. Darst. |
| ISBN: | 9780230291447 |
Internformat
MARC
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| 100 | 1 | |a Oricchio, Gianluca |d 1968- |e Verfasser |0 (DE-588)1012655172 |4 aut | |
| 245 | 1 | 0 | |a Private company valuation |b how credit risk reshaped equity markets and corporate finance valuation tools |c Gianluca Oricchio |
| 250 | |a 1. publ. | ||
| 264 | 1 | |a Basingstoke [u.a.] |b Palgrave Macmillan |c 2012 | |
| 300 | |a XIX, 301 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 650 | 4 | |a Wirtschaft | |
| 650 | 7 | |a BUSINESS & ECONOMICS / Accounting / Financial |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS / Purchasing & Buying |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS / Development / Business Development |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS / Investments & Securities |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS / Banks & Banking |2 bisacsh | |
| 650 | 4 | |a Corporations |x Valuation | |
| 650 | 4 | |a Stock exchanges | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025430569&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-025430569 | |
Datensatz im Suchindex
| _version_ | 1819363049846341632 |
|---|---|
| adam_text | Titel: Private company valuation
Autor: Oricchio, Gianluca
Jahr: 2012
Contents
List of Tables xi
List of Figures xv
Foreword by Sergio Ermotti xix
Acknowledgments xx
1 Introduction 1
1.1 How the financial markets are changed: where is
risk free ? 1
1.2 How equity valuation methods are changing: the
growing role of credit risk 3
1.3 How this book is structured 6
2 Private Companies Equity Valuation Methods 8
2.1 Equity value configurations 8
2.2 Reliability of equity fair valuation methods 9
2.3 Relative valuation and fundamentals-based
valuation approaches 9
2.4 Relative valuation approaches 10
2.5 Earnings-based methods 14
2.6 Cashflow-based methods 20
2.7 Stock-based methods 24
2.8 Intangible assets valuation 28
2.8.1 Human capital 28
2.8.2 Commercial licences 30
2.8.3 Order book 32
2.8.4 Brand 36
2.8.5 Customer portfolio and customer database 37
2.8.6 Mineral exploration and research concessions 38
2.9 Flow-stock methods 42
2.10 Majority control premium and minority discount 43
3 Cost of Equity for Private Companies: The Integrated
Pricing Model 52
3.1 Introduction 52
3.2 Shareholder s expected loss 52
3.2.1 The Floor Theorem 53
3.2.2 The Cap Theorem 55
3.2.3 The Combined Rule for the expected
loss for the shareholder 56
3.3 Junior subordinated pricing model 60
3.4 The relationship between the cost of equity
and the credit rating: the Integrated Pricing
Model (IPM) 62
3.4.1 CAPM for private companies 68
3.4.2 Fixed income approach for private companies 68
4 Integrated Pricing Model in USA 71
4.1 RiskCalc USA 71
4.1.1 Data description 72
4.1.2 Model components 78
4.1.3 Validation results 88
4.1.4 Further model improvements 98
4.2 Business case: Fashionbyte 100
4.2.1 Introduction to Fashionbyte 100
4.2.2 Business model and competitive advantage 101
4.2.3 Equity valuation 104
4.2.4 The new approach 108
5 Integrated Pricing Model in Japan 111
5.1 RiskCalc Japan 111
5.1.1 Data description 111
5.1.2 Model components 116
5.1.3 Validation results 125
5.1.4 Further model improvements 135
5.1.5 Conclusion 139
5.2 Business case: Nippon Solar 140
5.2.1 Introduction to Nippon Solar 140
5.2.2 Business model and competitive advantages 140
5.2.3 Equity valuation 143
5.2.4 The new approach 146
6 Integrated Pricing Model in China 149
6.1 RiskCalc China 149
6.1.1 Data description 149
6.1.2 Model components 155
6.1.3 Validation results 163
6.2 Business case: Daijin 173
6.2.1 Introduction to Daijin 173
6.2.2 Business model and competitive advantages 174
6.2.3 Equity valuation 178
6.2.4 The new approach 181
7 Integrated Pricing Model in Russia 183
7.1 RiskCalc Russia 183
7.1.1 Unique features of the Russian market 183
7.1.2 Data description 184
7.1.3 Model components 192
7.1.4 Validation results 199
7.2 Business case: Ural Fashion 208
7.2.1 Introduction to Ural Fashion 208
7.2.2 Business Model and competitive advantage 209
7.2.3 Equity valuation 211
7.2.4 The new approach 214
8 Integrated Pricing Model in India 216
8.1 RiskCalc emerging markets 216
8.1.1 Data description 216
8.1.2 Model components 221
8.1.3 Validation results 227
8.1.4 Model calibration and the adjustment factor 235
8.2 Business case: Rabbas 238
8.2.1 Introduction to Rabbas 238
8.2.2 Business model and competitive advantage 238
8.2.3 Equity valuation 242
8.2.4 The new approach 246
9 Integrated Pricing Model in Italy 248
9.1 RiskCalc Italy 248
9.1.1 Data description 248
9.1.2 Model components 249
9.1.3 Validation results 260
9.1.4 Further model improvements 269
9.2 Business case: Sintesi Farmaceutica 270
9.2.1 Introduction to Sintesi Farmaceutica 270
9.2.2 Business model and competitive advantage 271
9.2.3 Equity valuation 272
9.2.4 The new approach 275
Appendix: Term Structure of Probability of Default
and State-Dependent Transition Matrix 278
Notes 293
References 299
Index 301
|
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| dewey-ones | 332 - Financial economics |
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| dewey-search | 332.63/221 |
| dewey-sort | 3332.63 3221 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 1. publ. |
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| id | DE-604.BV040602846 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T16:18:23Z |
| institution | BVB |
| isbn | 9780230291447 |
| language | English |
| lccn | 2012023563 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-025430569 |
| oclc_num | 826542111 |
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| owner | DE-12 |
| owner_facet | DE-12 |
| physical | XIX, 301 S. graph. Darst. |
| publishDate | 2012 |
| publishDateSearch | 2012 |
| publishDateSort | 2012 |
| publisher | Palgrave Macmillan |
| record_format | marc |
| spellingShingle | Oricchio, Gianluca 1968- Private company valuation how credit risk reshaped equity markets and corporate finance valuation tools Wirtschaft BUSINESS & ECONOMICS / Accounting / Financial bisacsh BUSINESS & ECONOMICS / Purchasing & Buying bisacsh BUSINESS & ECONOMICS / Development / Business Development bisacsh BUSINESS & ECONOMICS / Investments & Securities bisacsh BUSINESS & ECONOMICS / Banks & Banking bisacsh Corporations Valuation Stock exchanges |
| title | Private company valuation how credit risk reshaped equity markets and corporate finance valuation tools |
| title_auth | Private company valuation how credit risk reshaped equity markets and corporate finance valuation tools |
| title_exact_search | Private company valuation how credit risk reshaped equity markets and corporate finance valuation tools |
| title_full | Private company valuation how credit risk reshaped equity markets and corporate finance valuation tools Gianluca Oricchio |
| title_fullStr | Private company valuation how credit risk reshaped equity markets and corporate finance valuation tools Gianluca Oricchio |
| title_full_unstemmed | Private company valuation how credit risk reshaped equity markets and corporate finance valuation tools Gianluca Oricchio |
| title_short | Private company valuation |
| title_sort | private company valuation how credit risk reshaped equity markets and corporate finance valuation tools |
| title_sub | how credit risk reshaped equity markets and corporate finance valuation tools |
| topic | Wirtschaft BUSINESS & ECONOMICS / Accounting / Financial bisacsh BUSINESS & ECONOMICS / Purchasing & Buying bisacsh BUSINESS & ECONOMICS / Development / Business Development bisacsh BUSINESS & ECONOMICS / Investments & Securities bisacsh BUSINESS & ECONOMICS / Banks & Banking bisacsh Corporations Valuation Stock exchanges |
| topic_facet | Wirtschaft BUSINESS & ECONOMICS / Accounting / Financial BUSINESS & ECONOMICS / Purchasing & Buying BUSINESS & ECONOMICS / Development / Business Development BUSINESS & ECONOMICS / Investments & Securities BUSINESS & ECONOMICS / Banks & Banking Corporations Valuation Stock exchanges |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025430569&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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