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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The Light Side of Valuation
In the light side of valuation, we explicitly allow for the challenges that we have listed for complex companies and try to make the best estimates we can, given the constraints of limited information.
Discounted Cash Flow Valuation
To value firms that operate in multiple businesses and many regions, we will stick with the standard framework of estimating cash flows and discount rates. But we will modify how we come up with the numbers along the way.
Step 1: Decide Whether to Use Aggregated or Disaggregated Numbers
The first step in the process is perhaps the most critical, because it determines how we approach the remaining steps. We have to decide, at the start of the process, whether we intend to value the company ...
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