By Jerald E. Pinto CFA, Elaine Henry CFA, Thomas R. Robinson CFA, John D. Stowe CFA
Might be shipped from US. Used books would possibly not comprise better half fabrics, can have a few shelf put on, may well comprise highlighting/notes, won't contain CDs or entry codes. a hundred% a refund warrantly.
Read Online or Download Equity Asset Valuation (CFA Institute Investment Series) - 2nd edition PDF
Similar economy books
Broadcast asserting Worktext, moment variation offers the aspiring broadcast performer with the abilities, thoughts, and strategies essential to input this hugely aggressive box. as well as the foundations of fine functionality, this article addresses the significance of "audience" and the way messages switch to speak successfully to varied teams.
- Japanese Manufacturing Investment in Europe: Its Impact on the UK Economy
- The Economics of Money, Banking, and Financial Markets, 7th edition (with Questions and Answers)
- Decision Making Support Systems: Achievements, Trends and Challenges for the New Decade
- The European social model and transitional labour markets: law and policy
- The Imagination Challenge: Strategic Foresight and Innovation in the Global Economy (VOICES)
Extra info for Equity Asset Valuation (CFA Institute Investment Series) - 2nd edition
5. 6 million. Note: In November 1998, Livent declared bankruptcy and is now defunct. The criminal trial, in Canada, began in May 2008. 5 The discussion in this example is indebted to Moody’s Investors Service (2000). Chapter 1 Equity Valuation: Applications and Processes 17 In general, growth in an asset account (such as deferred costs in the Livent example) at a much faster rate than the growth rate of sales may indicate aggressive accounting. Analysts recognize a variety of risk factors that may signal possible future negative surprises.
How attractive are the industries in which the company operates in terms of offering prospects for sustained profitability? Inherent industry profitability is one important factor in determining a company’s profitability. Analysts should try to understand industry structure—the industry’s underlying economic Chapter 1 Equity Valuation: Applications and Processes 9 and technical characteristics—and the trends affecting that structure. Basic economic factors— supply and demand—provide a fundamental framework for understanding an industry.
Selection of a model consistent with the characteristics of the company being valued is facilitated by having a good understanding of the business, which is the first step in the valuation process. Part of understanding a company is understanding the nature of its assets and how it uses those assets to create value. For example, a bank is composed largely of marketable or potentially marketable assets and securities; thus, for a bank, a relative valuation based on assets (as recognized in accounting) has more relevance than a similar exercise for a service company with few marketable assets.