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Debt Financing, Corporate Financial Intermediaries and Firm Valuation
The Journal of Finance, 1982ABSTRACTIn this paper we consider the role of financial intermediaries in the valuation of firms and projects. We show that security prices should reflect both used and unused debt capacity if some corporations can act as financial intermediaries and can capture the tax benefits of debt capacity unused by the operating firm.
Franks, Julian R, Pringle, John J
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On Valuation with Stochastic Proportional Hazard Models in Finance [PDF]
SSRN Electronic Journal, 2010 While the proportional hazard model is recognized to be statistically meaningful for analyzing and estimating financial event risks, the existing literature that analytically deals with the valuation problems is very limited. In this paper, adopting the proportional hazard model in continuous time setting, we provide an analytical treatment for the ...
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2010
In this 12th edition of the European Energy Markets Observatory, a sample of 41 companies has been examined (see Table 14.1), which is down from 43 covered in last year’s report, as two of the companies were acquired in 2009: Dutch Essent was bought by German RWE, and Nuon (also Dutch) was acquired by Swedish Vattenfall.
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In this 12th edition of the European Energy Markets Observatory, a sample of 41 companies has been examined (see Table 14.1), which is down from 43 covered in last year’s report, as two of the companies were acquired in 2009: Dutch Essent was bought by German RWE, and Nuon (also Dutch) was acquired by Swedish Vattenfall.
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Option Valuation with Macro-Finance Variables
Journal of Financial and Quantitative Analysis, 2016I propose a model in which the price of an option is partly determined by macro-finance variables. In an application using an index of current business conditions, the new model outperforms existing benchmarks in fitting underlying asset returns and in pricing options.
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Valuation effects of bank financing in acquisitions
Journal of Financial Economics, 2003Abstract In a sample of 115 cash tender offers between 1990 and 1996, banks extend financing in 70% of the tender offers and finance the entire tender offer in half of these takeovers. Bank financing of tender offers is more likely when internal cash reserves are low.
Anu Bharadwaj, Anil Shivdasani
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Valuation and Control in Venture Finance
The Journal of Finance, 2001ABSTRACTThis paper presents the model of a relationship between a venture capitalist and an entrepreneur engaged in the formation of a new firm. I assume that the entrepreneur derives private nonpecuniary benefits from having some control over the firm.
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Company Valuation and Financing
2005There is been much written on the period between Netscape going public on August 9, 1995, and NASDAQ peaking at 5,048.62 on February 29, 2000. March 10 of that year, by the way, was the worst day to buy stocks in 70 years (Berenson, 2004). This was not a normal period and this chapter will not attempt to explain it.
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2023
This book looks at the analogic application of standard corporate valuation approaches to trendy digital tokens, expressed by cryptocurrencies, and validated through blockchain systems. Whereas traditional firm appraisal follows institutional guidelines and best practices, frontier research still must define the boundaries of these trendy issues ...
Moro Visconti Roberto, Cesaretti Andrea
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This book looks at the analogic application of standard corporate valuation approaches to trendy digital tokens, expressed by cryptocurrencies, and validated through blockchain systems. Whereas traditional firm appraisal follows institutional guidelines and best practices, frontier research still must define the boundaries of these trendy issues ...
Moro Visconti Roberto, Cesaretti Andrea
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Financing Decisions and Valuation with Leverage
SSRN Electronic Journal, 2010This is a list of published academic research, which is intended as a basic readings selection for Corporate Finance course emphasizing interrelated issues of capital structure decisions, payout policy and valuation with leverage. The file is structured by topic and papers are listed in chronological order.
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339 Questions on Valuation and Finance
SSRN Electronic Journal, 2013The document starts with 100 questions that students, alumni and other persons (judges, arbitrageurs, clients…) have posed to me over the past years. They were recompiled so as to help the reader remember, clarify and, in some cases, discuss some useful concepts in finance.
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