October 2014
Intermediate to advanced
9 pages
29m
English
article
Creating More Accurate Acquisition Valuations
by Pablo Fernandez, Aswath Damodaran, Nalin Kulatilaka, Dirk Hackbarth, Craig Fox, Hersh Shefrin, Christa H.S. Bouwman, Jeffrey Wurgler, Malcolm P. Baker, Richard S. Ruback, Paul M. Healy, Thomas W. Bates, Dan Lovallo, Han Smit
Content preview from Creating More Accurate Acquisition Valuations
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Creating More Accurate Acquisition Valuations
In “hot” deal markets, executives often overvalue companies they are considering acquiring — and conversely undervalue potential acquisition targets when the economy is weak. Fortunately, there are steps managers can take to adjust deal valuations for these common biases.
Han Smit and Dan Lovallo
Fall 2014
Managers often must make decisions about complex strategic issues, and they are expected to make choices carefully and objectively. A private equity fund manager, for example, may have to decide whether to bid more in a highly competitive auction. A retailer may want to figure out whether to make an acquisition at a time when prices are at or near the top of the cycle. In a different vein, an auto ...
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