The Dark Side of Valuation Valuing Young, Distressed, and Complex Businesses

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  • Edition: 2nd
  • Format: Hardcover
  • Copyright: 2009-07-17
  • Publisher: Ft Pr
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In this work, the world's top expert on valuation brings together today's best practices for accurately valuing young, distressed, and complex businesses. Damodaran has thoroughly revised this book, broadening its perspective to consider all companies that resist easy valuation.

Author Biography

ASWATH DAMODARAN is Professor of Finance at the Stern School of Business at New York University and one of the world’s most highly regarded experts on valuation and finance. His books include Damodaran on Valuation, Investment Valuation, Corporate Finance: Theory and Practice, and Applied Corporate Finance: A User’s Manual. His recent book, Strategic Risk Taking, explores how we think about risk and the implications for risk management. He has received the Stern School of Business Excellence in Teaching Award seven times and was profiled in BusinessWeek as one of the top twelve U.S. business school professors.

Table of Contents

Preface     vi

Chapter 1 The Dark Side of Valuation     1

Chapter 2 Intrinsic Valuation     22

Chapter 3 Probabilistic Valuation: Scenario Analysis, Decision Trees, and Simulations     64

Chapter 4 Relative Valuation     90

Chapter 5 Real Options Valuation     114

Chapter 6 A Shaky Base: A “Risky” Risk-Free Rate     144

Chapter 7 Risky Ventures: Assessing the Price of Risk     168

Chapter 8 Macro Matters: The Real Economy     194

Chapter 9 Baby Steps: Young and Start-Up Companies     213

Chapter 10 Shooting Stars? Growth Companies     263

Chapter 11 The Grown-Ups: Mature Companies     312

Chapter 12 Winding Down: Declining Companies     361

Chapter 13 Ups and Downs: Cyclical and Commodity Companies     417

Chapter 14 Mark to Market: Financial Services Companies     449

Chapter 15 Invisible Investments: Firms with Intangible Assets     476

Chapter 16 Volatility Rules: Emerging-Market Companies     505

Chapter 17 The Octopus: Multibusiness Global Companies     535

Chapter 18 Going Over to the Light: Vanquishing the Dark Side     568

Index     576

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