Name: Company Valuation and Information in Analyst Forecasts (en Inglés)
SKU: 62069973
Price: 74.63 USD
Availability: InStock
Author: Daniel Kreutzmann

portada Company Valuation and Information in Analyst Forecasts (en Inglés)

Company Valuation and Information in Analyst Forecasts (en Inglés)

Formato

Libro Físico

Editorial

Logos Verlag Berlin

Autor

Daniel Kreutzmann

Idioma

Inglés

N° páginas

144

Encuadernación

Tapa Blanda

ISBN13

9783832525293

Company Valuation and Information in Analyst Forecasts (en Inglés)

Daniel Kreutzmann (Autor) · Logos Verlag Berlin · Tapa Blanda

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Reseña del libro "Company Valuation and Information in Analyst Forecasts (en Inglés)"

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.