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Produktbild: Equity Asset Valuation

Equity Asset Valuation

Aus der Reihe CFA Institute Investment Series

128,99 €

inkl. gesetzl. MwSt., Versandkostenfrei

Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

23.03.2020

Verlag

John Wiley & Sons Inc

Seitenzahl

720

Maße (L/B/H)

26,5/19,2/3,5 cm

Gewicht

1286 g

Auflage

4. Auflage

Sprache

Englisch

ISBN

978-1-119-62810-1

Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

23.03.2020

Verlag

John Wiley & Sons Inc

Seitenzahl

720

Maße (L/B/H)

26,5/19,2/3,5 cm

Gewicht

1286 g

Auflage

4. Auflage

Sprache

Englisch

ISBN

978-1-119-62810-1

Herstelleradresse

Libri GmbH
Europaallee 1
36244 Bad Hersfeld
DE

Email: GPSR Kontakt

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  • Produktbild: Equity Asset Valuation
  • Preface xiii
     
    Acknowledgments xv
     
    About the CFA Investment Series xvii
     
    Chapter 1 Overview of Equity Securities 1
     
    Learning Outcomes 1
     
    1. Introduction 1
     
    2. Equity Securities in Global Financial Markets 2
     
    3. Types and Characteristics of Equity Securities 8
     
    3.1. Common Shares 9
     
    3.2. Preference Shares 11
     
    4. Private versus Public Equity Securities 13
     
    5. Investing in Non-Domestic Equity Securities 15
     
    5.1. Direct Investing 17
     
    5.2. Depository Receipts 17
     
    6. Risk and Return Characteristics of Equity Securities 21
     
    6.1. Return Characteristics of Equity Securities 21
     
    6.2. Risk of Equity Securities 22
     
    7. Equity Securities and Company Value 23
     
    7.1. Accounting Return on Equity 24
     
    7.2. The Cost of Equity and Investors' Required Rates of Return 28
     
    8. Summary 29
     
    References 31
     
    Practice Problems 31
     
    Chapter 2 Introduction to Industry and Company Analysis 35
     
    Learning Outcomes 35
     
    1. Introduction 36
     
    2. Uses of Industry Analysis 36
     
    3. Approaches to Identifying Similar Companies 37
     
    3.1. Products and/or Services Supplied 37
     
    3.2. Business-Cycle Sensitivities 38
     
    3.3. Statistical Similarities 39
     
    4. Industry Classification Systems 40
     
    4.1. Commercial Industry Classification Systems 40
     
    4.2. Governmental Industry Classification Systems 44
     
    4.3. Strengths and Weaknesses of Current Systems 45
     
    4.4. Constructing a Peer Group 46
     
    5. Describing and Analyzing an Industry 50
     
    5.1. Principles of Strategic Analysis 52
     
    5.2. External Influences on Industry Growth, Profitability, and Risk 70
     
    6. Company Analysis 77
     
    6.1. Elements That Should Be Covered in a Company Analysis 77
     
    6.2. Spreadsheet Modeling 80
     
    7. Summary 81
     
    References 84
     
    Practice Problems 84
     
    Chapter 3 Equity Valuation: Concepts and Basic Tools 89
     
    Learning Outcomes 89
     
    1. Introduction 90
     
    2. Estimated Value and Market Price 90
     
    3. Major Categories of Equity Valuation Models 92
     
    4. Present Value Models: The Dividend Discount Model 94
     
    4.1. Dividends: Background for the Dividend Discount Model 94
     
    4.2. The Dividend Discount Model: Description 96
     
    4.3. Preferred Stock Valuation 100
     
    4.4. The Gordon Growth Model 103
     
    4.5. Multistage Dividend Discount Models 108
     
    5. Multiplier Models 112
     
    5.1. Relationships among Price Multiples, Present Value Models, and Fundamentals 112
     
    5.2. The Method of Comparables 116
     
    5.3. Illustration of a Valuation Based on Price Multiples 119
     
    5.4. Enterprise Value 121
     
    6. Asset-Based Valuation 123
     
    7. Summary 127
     
    References 129
     
    Practice Problems 129
     
    Chapter 4 Equity Valuation: Applications and Processes 135
     
    Learning Outcomes 135
     
    1. Introduction 135
     
    2. Value Definitions and Valuation Applications 136
     
    2.1. What is Value? 136
     
    2.2. Applications of Equity Valuation 139
     
    3. The Valuation Process 141
     
    3.1. Understanding the Business 142
     
    3.2. Forecasting Company Performance 152
     
    3.3. Selecting the Appropriate Valuation Model 153
     
    3.4. Converting Forecasts to a Valuation 160
     
    3.5. Applying the Valuation Conclusion: The Analyst's Role and Responsibilities 161
     
    4. Communicating Valuation Results 163
     
    4.1. Contents of a Research Report 1