Equity Valuation Lecture Map Definitions of Value Book value‚ Liquidation value‚ Intrinsic value‚ Market value Dividend discount models Constant-growth Multi-stage growth Value Metrics and Determinants of Value Current earnings and growth P/E Lesmond 1 Book Value of Equity The firm’s equity value‚ or stock value‚ is stated right on the firm’s books This is NOT the market value of equity Book value per share of Equity is the value of common equity on the books‚ divided
Premium Generally Accepted Accounting Principles Asset Balance sheet
Plato and His Theory on Government Plato was a pupil under Socrates. During his studies‚ Plato wrote the Dialogues‚ which are a collection of Socrates’ teachings. One of the parables included in the Dialogues is "The Allegory of the Cave". "The Allegory..." symbolizes man’s struggle to reach understanding and enlightenment. First of all‚ Plato believed that one could only learn through dialectic reasoning and open-mindedness. Humans had to travel from the visible realm of image making and objects
Premium
STUDENT ID NUM: 4943538 A CRITICAL LITERATURE REVIEW OF MOTIVATIONAL THEORY The history of Motivational theory can be traced back to the beginning of the 20th century. There have been many theories and submissions of the subject matter of motivational theory. To have a better understanding of Motivational theory‚ we must understand the meaning of Motivation. Motivation is the physiological feature that arouses an organism to action toward a desired goal; the reason for the action‚ that which
Premium
Cross-Border Mergers and Acquisitions: The Role of Private Equity Firms Mark Humphery-Jenner University of New South Wales Zacharias Sautner University of Amsterdam Duisenberg School of Finance Jo-Ann Suchard University of New South Wales This draft: July 2012 Abstract: We study the role of private equity firms in cross-border mergers and acquisitions. We find that private equity-backed firms are more likely to become targets in crossborder M&A transactions. This effect is particularly
Premium Private equity Venture capital Leveraged buyout
Psychoanalytic Sigmund Freud developed his psychoanalytic theory while working with patients suffering with mental health illnesses (Santrock‚ 2007‚ p.39). According to Freud the mind can be divided up into two main parts which are the conscious and the unconscious. The conscious mind includes everything that we are aware of and our unconscious mind consists of feelings‚ thoughts‚ urges and memories that are harder to retrieve (IBID). Freud also believed that personalities have three structures
Premium
American Finance Association Equity Issues and Stock Price Dynamics Author(s): Deborah J. Lucas and Robert L. McDonald Source: The Journal of Finance‚ Vol. 45‚ No. 4 (Sep.‚ 1990)‚ pp. 1019-1043 Published by: Blackwell Publishing for the American Finance Association Stable URL: http://www.jstor.org/stable/2328713 . Accessed: 16/07/2011 10:21 Your use of the JSTOR archive indicates your acceptance of JSTOR ’s Terms and Conditions of Use‚ available at . http://www.jstor.org/page/info/about/policies/terms
Premium Stock market Stock Net present value
TERM SHEET FOR POTENTIAL EQUITY INVESTMENT IN [NAME OF CORPORATION] / AND STRATEGIC ALLIANCE This term sheet summarizes the principal terms with respect to a potential private placement of equity securities of [NAME OF CORPORATION] (the “Company”) by [NAME OF INVESTOR] (“Investor”) and related strategic alliance. This term sheet is intended solely as a basis for further discussion and is not intended to be and does not constitute a legally binding obligation. No legally binding obligations
Premium Stock Initial public offering Stock market
Ethical issues in business Ethical issues arising from the nature of markets - The 18th Century economist Adam Smith demonstrated how in a free market the self interest of producers and consumers will produce an outcome desirable to all concerned - But the market can also lead to inequality of income‚ wealth and market power: * Monopoly suppliers can exploit consumers * Monophony buyers can exploit supply firms * World wide inequality of income can result in unethical practices such
Premium
Financial statement is a tool which allows the business to measure their finances. There are types of financial statements. These are profit and loss account‚ balance sheet and cash flow forecast. However in this question I will only be looking at two of the financial statements instead of the three and these are profit and loss account and balance sheet. Profit and loss account The profit and loss account is a valuable technique which shows the business how much it has made at the end of its financial
Premium
1. The broadening set of interdependent relationships among people from different parts of the world is known as ________. a. globalization b. Offshoring c. international business d. outsourcing 2. The term globalization is sometimes used to mean the ________. a. movement of jobs to low-wage countries b. business being undertaken outside the confines of any nation c. Uneven distribution of resources and their influence on different products and services in different parts of the world
Premium