Principles of Private Firm Valuation phần 5 pptx
Principles of Private Firm Valuation phần 5 pptx
... 3 0.86 259 54 4 1.1300 4 1.1900 4 $1,138, 054 ,57 6.81 4 1. 053 097 4 0.86 259 542 4 0.9083969 5 1.1600 5 1.2400 5 $711,964, 358 .60 5 1.068966 5 0.8 854 9618 5 0.94 656 49 6 1.1800 6 1.3000 6 $50 8, 957 ,368.04 ... 0. 85 4.21% 14.21% 12.68% 2 .53 % 0.4 85 8 .55 % 8.00% 0.66 TB Woods Corp. 0. 451 2 0. 65 4.21% 13.68% 12.60% −0.37% 0.407 14.73% NM NM Average* 11.18% 10. 35% 6. 0...
Ngày tải lên: 14/08/2014, 09:21
Principles of Private Firm Valuation phần 2 pptx
... value of Firms A and T would equal $1 15 (stand-alone Firm A value of $100 + stand-alone Firm T value of $50 + $ 25 synergy value − $60 Firm T cost = $1 15) . Firm A is willing to pay a premium for Firm ... the value of these additional activities is 14 PRINCIPLES OF PRIVATE FIRM VALUATION 12249_Feldman_4p_c02.r.qxd 2/9/ 05 9:46 AM Page 14 9 Creating and Measuri...
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Principles of Private Firm Valuation phần 5 docx
... 3 0.86 259 54 4 1.1300 4 1.1900 4 $1,138, 054 ,57 6.81 4 1. 053 097 4 0.86 259 542 4 0.9083969 5 1.1600 5 1.2400 5 $711,964, 358 .60 5 1.068966 5 0.8 854 9618 5 0.94 656 49 6 1.1800 6 1.3000 6 $50 8, 957 ,368.04 ... 3317 .59 1206 Coefficients Standard Error t-Stat P-value Lower 95% Intercept −0.30 059 1 958 0. 156 793904 −1.9171 150 82 0. 055 6318 15 −0.60843667 Beta −0 .52 056...
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Principles of Private Firm Valuation phần 1 pptx
... 2/9/ 05 9 :50 AM Page xii John Wiley & Sons, Inc. Principles of Private Firm Valuation STANLEY J. FELDMAN 12249_Feldman_4p_ffirst.r.qxd 2/9/ 05 9:49 AM Page iii Principles of Private Firm Valuation 12249_Feldman_4p_ffirst.r.qxd ... a private firm s cost of capital. The purpose of valuing private firms varies. Although a valuation is generally required prio...
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Principles of Private Firm Valuation phần 7 pptx
... (%) % of cross-industry 35. 62 49.89 47.1 26. 05 71. 45 69.99 % of mergers with foreign acquirers 3.14 21.12 12.19 2.1 16. 15 9.38 Mean transaction value $32.06 $41.70 $55 .12 $ 352 .96 $1 65. 08 $ 455 .81(in ... (−3 .58 ) −0 .56 4 (−0 .54 ) −0.0 25* (−3.66) EXCH −2.3 65 (−2.41) 0.037* (4.90) −1.4 45 † (−1. 65) 0.029* (4. 85) ECON −7.131 (−1.1) 0.001 (0.13) −6.667 (−1.07) 0.024 (0.7...
Ngày tải lên: 14/08/2014, 09:21
Principles of Private Firm Valuation phần 10 pptx
... goodwill: defined, 153 – 154 measuring, 157 –1 65 testing for, 154 – 157 Income-based valuation, defined, 45 Income statements, Tentex, 48–49, 52 53 Indifference equations, 152 Information signaling, 93–94, 95 Initial ... multiples, 65 68 valuation model, 45 46, 159 –162, 1 65 Discretionary expenses, 50 51 , 108 Divestitures, 20– 25, 1 45 146 Due diligence, 28 EBay, n9, 174 EBIT...
Ngày tải lên: 14/08/2014, 09:21
Principles of Private Firm Valuation phần 1 doc
... a private firm s cost of capital. The purpose of valuing private firms varies. Although a valuation is generally required prior to a private firm being transacted, the majority of private firm ... PREFACE 12249_Feldman_4p_flast.r.qxd 2/9/ 05 9 :50 AM Page viii 12249_Feldman_4p_ftoc.r.qxd 2/9/ 05 9 :50 AM Page vi 12249_Feldman_4p_ftoc.r.qxd 2/9/ 05 9 :50 AM Page vi Pri...
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Principles of Private Firm Valuation phần 3 ppt
... $10.00 Total value of units $24.00 $ 35. 00 $37.00 Size premium* 2 .50 2 .50 2 .50 Total firm value $26 .50 $37 .50 $39 .50 Mkt. value of debt 0 $8. 25 $8.69 Equity value $26 .50 $29. 25 $30.81 *Since Frier ... the margin increases by 15 per- centage points. 38 PRINCIPLES OF PRIVATE FIRM VALUATION 12249_Feldman_4p_c03.r.qxd 2/9/ 05 9:47 AM Page 38 26 PRINCIPLES OF P...
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Principles of Private Firm Valuation phần 4 pdf
... 10.00% 6.00% 5. 00%period Taxable income $640,868 $774, 051 $ 851 , 456 $979,1 75 $1,077,092 $1,141,718 $1,198,804 Interest expense $0 $55 ,800 $55 ,800 $55 ,800 $55 ,800 $55 ,800 $55 ,800 Tax @ 40% $ 256 ,347 $309,621 ... $1,182,477 $1, 359 ,848 $1,4 95, 833 $1 ,58 5 ,58 3 $1,664,862 Change in working capital $184,961 $107,498 $177,372 $1 35, 9 85 $89, 750 $79,279 Free cash flow $144,233...
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Principles of Private Firm Valuation phần 6 potx
... 250 Ba2/BB 4. 95 3 25 400 4 25 3 75 3 25 300 300 Ba3/BB− 4. 75 350 450 4 75 400 350 3 25 400 B1/B+ 4 .5 500 52 5 600 4 25 4 25 3 75 450 B2/B 4. 15 5 25 550 600 50 0 450 450 7 25 B3/B− 3. 75 7 25 800 7 75 750 7 25 7 75 850 Caa/CCC ... 6.4 50 65 70 80 90 96 116 Baa1/BBB+ 6. 25 60 75 90 100 1 05 114 1 35 Baa2/BBB 5. 85 75 90 1 05 1 15 120 129 155 Baa3/BBB− 5...
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