MENÜ MENÜ  

cover

Company Valuation and Information in Analyst Forecasts

Daniel Kreutzmann

ISBN 978-3-8325-2529-3
144 pages, year of publication: 2010
price: 34.50 €
Company Valuation and Information in Analyst Forecasts
This thesis focuses on the three primitive value drivers of each company valuation model that is based on fundamental analysis: the discount rate, the expected future payoffs during the explicit forecasting period, and the terminal value at the end of the explicit forecasting period. While the first factor is analyzed theoretically by incorporating the government into the classical valuation framework, this thesis studies the other two factors by investigating forecasts made by professional investors, i.e. financial analysts. In the first part we show that the government's and the shareholders discount rate usually differ and analyze how the government's and shareholders different objectives lead to conflicts in the context of capital budgeting. The empirical part of this thesis shows that macroeconomic information is frequently used by financial analysts when updating their earnings expecations and that target price forecastsmade by financial analysts can be used to predict abnormal returns.

cover cover cover cover cover cover cover cover cover
Keywords:
  • Analyst Forecasts
  • Target Prices
  • Macroeconomic News
  • Company Valuation
  • Earnings Expectations

BUYING OPTIONS

34.50 €
only 1 in stock

34.00 €
44.50 €
48.50 €

(D) = Within Germany
(W) = Abroad

You can purchase the eBook (PDF) alone or combined with the printed book (Bundle). In both cases we use the payment service of PayPal for charging you - nevertheless it is not necessary to have a PayPal-account. With purchasing the eBook or eBundle you accept our licence for eBooks.

For multi-user or campus licences (MyLibrary) please fill in the form or write an email to order@logos-verlag.de