|
|
|
|
A Framework for Business Analysis and Valuation Using Financial Statements |
|
|
1 | (1) |
|
The Role of Financial Reporting in Capital Markets |
|
|
2 | (1) |
|
From Business Activities to Financial Statements |
|
|
3 | (3) |
|
From Financial Statements to Business Analysis |
|
|
6 | (3) |
|
|
|
9 | (1) |
|
|
|
9 | (1) |
|
Case: The Role of Capital Market Intermediaries in the Dot-Com Crash of 2000 |
|
|
10 | |
|
Part 2 BUSINESS ANALYSIS AND VALUATION TOOLS |
|
|
|
|
|
1 | (1) |
|
|
|
1 | (4) |
|
Applying Industry Analysis: The Personal Computer Industry |
|
|
5 | (2) |
|
Competitive Strategy Analysis |
|
|
7 | (4) |
|
Corporate Strategy Analysis |
|
|
11 | (3) |
|
|
|
14 | (1) |
|
|
|
15 | (3) |
|
Case: America Online, Inc. |
|
|
18 | |
|
Overview of Accounting Analysis |
|
|
1 | (1) |
|
The Institutional Framework for Financial Reporting |
|
|
1 | (3) |
|
Factors Influencing Accounting Quality |
|
|
4 | (2) |
|
Steps in Doing Accounting Analysis |
|
|
6 | (5) |
|
Accounting Analysis Pitfalls |
|
|
11 | (1) |
|
Value of Accounting Data and Accounting Analysis |
|
|
12 | (1) |
|
|
|
13 | (1) |
|
|
|
14 | (3) |
|
Case: Harnischfeger Corporation |
|
|
17 | |
|
Implementing Accounting Analysis |
|
|
1 | (1) |
|
Recasting Financial Statements |
|
|
1 | (4) |
|
|
|
5 | (2) |
|
|
|
7 | (5) |
|
|
|
12 | (9) |
|
|
|
21 | (9) |
|
|
|
30 | (3) |
|
|
|
33 | (1) |
|
|
|
33 | (8) |
|
Appendix: Recasting Financial Statements Into Standardized Templates |
|
|
41 | (5) |
|
Case: Pre-Paid Legal Services, Inc. |
|
|
46 | |
|
|
|
1 | (1) |
|
|
|
1 | (21) |
|
|
|
22 | (5) |
|
|
|
27 | (1) |
|
|
|
28 | (2) |
|
Appendix: Part A: Nordstrom, Inc. Financial Statements |
|
|
30 | (7) |
|
Appendix: Part B: The TJX Companies, Inc. Financial Statements |
|
|
37 | (7) |
|
Case: The Home Depot, Inc. |
|
|
44 | |
|
Prospective Analysis: Forecasting |
|
|
1 | (1) |
|
Relation of Forecasting to Other Analyses |
|
|
1 | (1) |
|
The Techniques of Forecasting |
|
|
1 | (6) |
|
|
|
7 | (3) |
|
|
|
10 | (2) |
|
|
|
12 | (1) |
|
|
|
13 | (2) |
|
Appendix: The Behavior of Components of ROE |
|
|
15 | (2) |
|
Case: Krispy Kreme Doughnuts |
|
|
17 | |
|
Prospective Analysis: Valuation Theory and Concepts |
|
|
1 | (1) |
|
Defining Value for Shareholders |
|
|
2 | (1) |
|
The Discounted Abnormal Earnings Valuation Method |
|
|
3 | (2) |
|
Valuation Using Price Multiples |
|
|
5 | (5) |
|
Shortcut Forms of Earnings-Based Valuation |
|
|
10 | (2) |
|
The Discounted Cash Flow Model |
|
|
12 | (2) |
|
Comparing Valuation Methods |
|
|
14 | (2) |
|
|
|
16 | (1) |
|
|
|
17 | (3) |
|
Appendix: Reconciling the Discounted Dividends and Discounted Abnormal Earnings Models |
|
|
20 | (1) |
|
Case: Valuation Ratios in the Airline Industry |
|
|
21 | |
|
Prospective Analysis: Valuation Implementation |
|
|
1 | (1) |
|
Detailed Forecasts of Performance |
|
|
1 | (1) |
|
Computing a Discount Rate |
|
|
2 | (5) |
|
|
|
7 | (4) |
|
Computing Estimated Values |
|
|
11 | (5) |
|
|
|
16 | (1) |
|
|
|
16 | (3) |
|
Case: Home Depot, Inc. in the New Millennium |
|
|
19 | |
|
Part 3 BUSINESS ANALYSIS AND VALUATION APPLICATIONS |
|
|
|
|
|
1 | (1) |
|
|
|
1 | (1) |
|
Equity Security Analysis and Market Efficiency |
|
|
2 | (2) |
|
Approaches to Fund Management and Securities Analysis |
|
|
4 | (2) |
|
The Process of a Comprehensive Security Analysis |
|
|
6 | (4) |
|
Performance of Security Analysts and Fund Managers |
|
|
10 | (2) |
|
|
|
12 | (1) |
|
|
|
13 | (4) |
|
Case: United Parcel Service's IPO |
|
|
17 | |
|
Credit Analysis and Distress Prediction |
|
|
1 | (1) |
|
|
|
2 | (1) |
|
The Credit Analysis Process |
|
|
3 | (6) |
|
Financial Statement Analysis and Public Debt |
|
|
9 | (4) |
|
Prediction of Distress and Turnaround |
|
|
13 | (2) |
|
|
|
15 | (1) |
|
|
|
15 | (3) |
|
Case: Amazon.com in the Year 2000 |
|
|
18 | |
|
|
|
1 | (1) |
|
Motivation for Merger or Acquisition |
|
|
1 | (4) |
|
|
|
5 | (5) |
|
|
|
10 | (4) |
|
|
|
14 | (1) |
|
|
|
15 | (1) |
|
|
|
16 | (2) |
|
Case: Schneider and Square D |
|
|
18 | |
|
Corporate Financing Policies |
|
|
1 | (1) |
|
Factors That Determine Firms' Debt Policies |
|
|
1 | (1) |
|
The Optimal Long-Term Mix of Debt and Equity |
|
|
2 | (5) |
|
The Financing of New Projects |
|
|
7 | (2) |
|
Factors That Determine Dividend Policies |
|
|
9 | (4) |
|
|
|
13 | (1) |
|
|
|
14 | (2) |
|
Case: CUC International, Inc. (A) |
|
|
16 | |
|
Communication and Governance |
|
|
1 | (334) |
|
|
|
2 | (2) |
|
Management Communication with Investors |
|
|
4 | (2) |
|
Communication Through Financial Reporting |
|
|
6 | (3) |
|
Other Forms of Communicating with Investors |
|
|
9 | (3) |
|
|
|
12 | (5) |
|
|
|
17 | (1) |
|
|
|
18 | (1) |
|
|
|
19 | (4) |
|
Case: Computer Associates International, Inc.: Governance and Investor Communication Challenge |
|
|
23 | |
|
|
|
|
|
|
1 | (24) |
|
Arch Communications Group Inc. |
|
|
25 | (30) |
|
|
|
55 | (18) |
|
Brierley Investments Limited |
|
|
73 | (20) |
|
|
|
93 | (18) |
|
|
|
111 | (26) |
|
|
|
137 | (30) |
|
Korea Stock Exchange 1998 |
|
|
167 | (18) |
|
|
|
185 | (30) |
|
Maxwell Shoe Company, Inc. |
|
|
215 | (6) |
|
The Murray Ohio Manufacturing Company |
|
|
221 | (24) |
|
Oracle Systems Corporation |
|
|
245 | (12) |
|
Sensormatic Electronics Corporation-1995 |
|
|
257 | (30) |
|
Thermo Electron Corporation |
|
|
287 | (18) |
|
The Upjohn Company: The Upjohn-Pharmacia Merger |
|
|
305 | (30) |
| Index |
|
335 | (12) |
| Author Index |
|
347 | |
Shopping Cart
