Damodaran on Valuation_ Security Analysis for Investment and Corporate Finance ( PDFDrive )
businessesbecauseof accountingdecisionstheymake.We developed a number of potential measures of complexity, ranging from a measur ...
38 Transparency of Ownership Does the company provide a description of share classes? Doesthecompanyprovideareviewofshareholder ...
Describe procedure for proposals at shareholder meetings. How do shareholders convene an extraordinary general meeting? How do ...
Does thecompany give an output forecast of any kind? Does the company give characteristics of assets employed? Does the company ...
Does the company disclose methods of asset valuation? Doesthecompanydiscloseinformationonitsmethod of fixed assets depreciation ...
Are theredetails aboutdirectors (otherthanname/ title)? Are details about current employment/position of directors provided? Ar ...
Does the company disclose whether it provides director training? Doesthecompanydisclosethenumberofsharesin the company held by ...
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1 Since the firms havesimilar risk exposure and financial leverage,theyshould havethe samecost ofcapital. Since theirreturnoncap ...
valueshowsupasgoodwillonthecombinedfirm’sbalance sheet and is amortized over time. 7 See Chapter 3 for a fuller discussion of ho ...
13 The incentive to provide more complete financial statements tends to be greatest for those emerging market companiesthathavel ...
20 R.G.GelosandS.Wei,“TransparencyandInternational Investor Behavior,” working paper, SSRN, 2003. 21 B. Villalonga, “Does Divers ...
“AccountingTransparencyandtheTermStructureofCredit Spreads,”workingpaper,2003.Theformerpresentsevidence thatthecostofdebtislower ...
33 It is a little unfair to pick on accountantsalone in this regard.Investment bankerswhodesign thespecial purpose entitiesforfi ...
CHAPTER 17 The Cost of Distress Inbothdiscounted cashflow(DCF)and relativevaluation, weimplicitlyassumethatthefirmsthatwearevalu ...
distressedfirmsmaycontinueto havevaluebecauseofthe limitedliabilityfeatureandoptioncharacteristicsofpublicly traded equity. POSS ...
publiclytradedfirmsintheUnitedStatesbetween 1980 and 1983 and foundthat 1,346firms had trouble making their interestexpensesfrom ...
2 Insummary,then,thepossibilityandcostsofdistressarefar toosubstantialtobeignoredinvaluation.Thequestionthen becomes not whether ...
youmightwonder,aretheargumentsofferedbyproponents of discounted cash flow valuation for not explicitly consideringthepossibility ...
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