July 2009
Intermediate to advanced
600 pages
19h 50m
English
book
The Dark Side of Valuation: Valuing Young, Distressed, and Complex Businesses, Second Edition
by Aswath Damodaran
Content preview from The Dark Side of Valuation: Valuing Young, Distressed, and Complex Businesses, Second Edition
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Valuation Issues
The issues we face in valuing declining companies come from their common characteristics. Most of the valuation techniques we use for businesses, whether intrinsic or relative, are built for healthy firms with positive growth. Sometimes they break down when a firm is expected to shrink over time or if distress is imminent.
Intrinsic (DCF) Valuation
A company’s intrinsic value is the present value of the company’s expected cash flows over its lifetime. Although that principle does not change with declining firms, practical problems can impede valuations.
Existing Assets
When valuing the firm’s existing assets, we estimate the expected cash flows from these assets and discount them back at a risk-adjusted discount rate. Although ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.