Equity Asset Valuation, 3ed

Jerald E. Pinto

ISBN: 9788126563111

620 pages

INR 999

Description

Equity Asset Valuation, Third Edition blends theory and practice to paint an accurate, informative picture of the equity asset world. The most comprehensive resource on the market, this text supplements your studies for the third step in the three-level CFA certification program by integrating both accounting and finance concepts to explore a collection of valuation models and challenge you to determine which models are most appropriate for certain companies and circumstances.

Foreword

Preface

Acknowledgments

About the CFA Investment Series

 

Chapter 1 Equity Valuation: Applications & Processes

1. Introduction  

2. Value Definitions and Valuation Applications  

3. The Valuation Process  

4. Communicating Valuation Results

5. Summary

 

Chapter 2 Return Concepts

1. Introduction

2. Return Concepts

3. The Equity Risk Premium

4. The Required Return on Equity

5. The Weighted Average Cost of Capital

6. Discount Rate Selection in Relation to Cash Flows

7. Summary

 

Chapter 3 Introduction to Industry and Company Analysis

1. Introduction

2. Uses of Industry Analysis

3. Approaches to Identifying Similar Companies

4. Industry Classification Systems

5. Describing and Analyzing an Industry

6. Company Analysis

7. Summary

 

Chapter 4 Industry and Company Analysis

1. Introduction

2. Financial Modeling: An Overview

3. The Impact of Competitive Factors on Prices and Costs

4. Inflation and Deflation

5. Technological Developments

6. Long-Term Forecasting

7. Building a Model

8. Summary

 

Chapter 5 Discounted Dividend Valuation

1. Introduction

2. Present Value Models

3. The Dividend Discount Model

4. The Gordon Growth Model

5. Multistage Dividend Discount Models

6. The Financial Determinants of Growth Rates

7. Summary

 

Chapter 6 Free Cash Flow Valuation

1. Introduction to Free Cash Flows

2. FCFF and FCFE Valuation Approaches

3. Forecasting Free Cash Flow

4. Free Cash Flow Model Variations

5. Nonoperating Assets and Firm Value

6. Summary

 

Chapter 7 Market-Based Valuation: Price and Enterprise Value Multiples

1. Introduction

2. Price and Enterprise Value Multiples in Valuation

3. Price Multiples

4. Enterprise Value Multiples

5. International Considerations When Using Multiples

6. Momentum Valuation Indicators

7. Valuation Indicators: Issues in Practice

8. Summary

 

Chapter 8 Residual Income Valuation

1. Introduction

2. Residual Income

3. The Residual Income Model

4. Residual Income Valuation in Relation to Other Approaches

5. Accounting and International Considerations

 

Chapter 9 Private Company Valuation

1. Introduction

2. The Scope of Private Company Valuation

3. Definitions (Standards) of Value

4. Private Company Valuation Approaches

5. Summary

 

References

Problems

Glossary

About the Editors and Authors

About the CFA Program

Index