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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1589063856
Category : Business & Economics
Languages : en
Pages : 302
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Book Description
Financial Soundness Indicators (FSIs) are measures that indicate the current financial health and soundness of a country's financial institutions, and their corporate and household counterparts. FSIs include both aggregated individual institution data and indicators that are representative of the markets in which the financial institutions operate. FSIs are calculated and disseminated for the purpose of supporting macroprudential analysis--the assessment and surveillance of the strengths and vulnerabilities of financial systems--with a view to strengthening financial stability and limiting the likelihood of financial crises. Financial Soundness Indicators: Compilation Guide is intended to give guidance on the concepts, sources, and compilation and dissemination techniques underlying FSIs; to encourage the use and cross-country comparison of these data; and, thereby, to support national and international surveillance of financial systems.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1589063856
Category : Business & Economics
Languages : en
Pages : 302
Get Book Here
Book Description
Financial Soundness Indicators (FSIs) are measures that indicate the current financial health and soundness of a country's financial institutions, and their corporate and household counterparts. FSIs include both aggregated individual institution data and indicators that are representative of the markets in which the financial institutions operate. FSIs are calculated and disseminated for the purpose of supporting macroprudential analysis--the assessment and surveillance of the strengths and vulnerabilities of financial systems--with a view to strengthening financial stability and limiting the likelihood of financial crises. Financial Soundness Indicators: Compilation Guide is intended to give guidance on the concepts, sources, and compilation and dissemination techniques underlying FSIs; to encourage the use and cross-country comparison of these data; and, thereby, to support national and international surveillance of financial systems.
Author: Aswath Damodaran
Publisher: John Wiley & Sons
ISBN: 0470049375
Category : Business & Economics
Languages : en
Pages : 698
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Book Description
"Aswath Damodaran is simply the best valuation teacher around. If you are interested in the theory or practice of valuation, you should have Damodaran on Valuation on your bookshelf. You can bet that I do." -- Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management and author of More Than You Know: Finding Financial Wisdom in Unconventional Places In order to be a successful CEO, corporate strategist, or analyst, understanding the valuation process is a necessity. The second edition of Damodaran on Valuation stands out as the most reliable book for answering many of today?s critical valuation questions. Completely revised and updated, this edition is the ideal book on valuation for CEOs and corporate strategists. You'll gain an understanding of the vitality of today?s valuation models and develop the acumen needed for the most complex and subtle valuation scenarios you will face.
Author: David T. Larrabee
Publisher: John Wiley & Sons
ISBN: 1118397436
Category : Business & Economics
Languages : en
Pages : 628
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Book Description
Analysis and insights from top thought leaders on a pivotal topic in investing and asset management Valuation is the cornerstone for investment analysis, and a thorough understanding and correct application of valuation methodologies are critical for long-term investing success. Edited by two leading valuation experts from CFA Institute, this book brings together the insights and expertise of some of the most astute and successful investment minds of the past 50 years. From Benjamin Graham, the “father of value investing,” to Aswath Damodaran, you’ll learn what these investment luminaries have to say about investment valuation techniques, including earnings and cash flow analysis. Features the best thinking on valuation from the industry’s masters on the topic, supplemented with dozens of fascinating and instructive real-world examples Comprehensively discusses special valuation situations, such as real options, employee stock options, highly leveraged firms, corporate takeovers, and more Supplies you with the tools you need to successfully navigate and thrive in the ever-changing financial markets Is being produced with the full support and input of CFA Institute, the world’s leading association of investment professionals
Author: Peter Easton
Publisher: Now Publishers Inc
ISBN: 1601981945
Category : Business & Economics
Languages : en
Pages : 148
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Book Description
Estimating the Cost of Capital Implied by Market Prices and Accounting Data focuses on estimating the expected rate of return implied by market prices, summary accounting numbers, and forecasts of earnings and dividends. Estimates of the expected rate of return, often used as proxies for the cost of capital, are obtained by inverting accounting-based valuation models. The author describes accounting-based valuation models and discusses how these models have been used, and how they may be used, to obtain estimates of the cost of capital. The practical appeal of accounting-based valuation models is that they focus on the two variables that are commonly at the heart of valuations carried out by equity analysts -- forecasts of earnings and forecasts of earnings growth. The question at the core of this monograph is -- How can these forecasts be used to obtain an estimate of the cost of capital? The author examines the empirical validity of the estimates based on these forecasts and explores ways to improve these estimates. In addition, this monograph details a method for isolating the effect of any factor of interest (such as cross-listing, fraud, disclosure quality, taxes, analyst following, accounting standards, etc.) on the cost of capital. If you are interested in understanding the academic literature on accounting-based estimates of expected rate of return this monograph is for you. Estimating the Cost of Capital Implied by Market Prices and Accounting Data provides a foundation for a deeper comprehension of this literature and will give a jump start to those who have an interest in these topics. The key ideas are introduced via examples based on actual forecasts, accounting information, and market prices for listed firms, and the numerical examples are based on sound algebraic relations.
Author: Keji Chen
Publisher:
ISBN:
Category : Valuation
Languages : en
Pages :
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Book Description
Abstract: Accounting valuation models have been widely studied by researchers and commonly used by practitioners. Almost all the accounting valuation models require earnings as one of the inputs (or the only input). However, one question has not been addressed: whether earnings of a longer interval or earnings of a shorter interval should be used in the valuation models. The fact that earnings can be aggregated over time and this intertemporal aggregated earnings contains fewer measurement errors is intrinsic to accounting. Although earnings aggregation is intrinsic to accounting, it has received little attention by researchers when using accounting valuation models to estimate variables of interest. Also, although there are few studies that examine the effect of earnings aggregation, these studies focus mainly on the contemporaneous explanatory power of earnings for returns. Therefore, the effect of earnings aggregation on inferring prices via accounting valuation models remains unclear, and simply aggregating earnings over a longer interval may potentially improve the estimates from the valuation models. Despite the fact that the results for the cross-sectional sample may not be encouraging, the results for the sub-samples support the expectation that earnings aggregation improves the ability of the valuation model to infer prices for some types of firms. For firms with negative earnings and for small firms, using aggregated earnings of a longer interval in the valuation model generally generates smaller errors in inferring prices than using annual earnings, and the differences between the errors can be significant. These results contribute to the understanding of the fundamental accounting attribute of earnings aggregation. More specifically, this study contributes to the valuation research insofar as the results show that it is beneficial to aggregate earnings over a longer interval when applying accounting valuation models for some specific types of firms.
Author: Jonathan F. Cogliano
Publisher: Edward Elgar Publishing
ISBN: 1786430649
Category : Business & Economics
Languages : en
Pages : 431
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Book Description
This book provides a comprehensive and rigorous, yet accessible, analysis of classical and Marxian price and value theory using the tools of contemporary economic analysis. The broad conceptual framework and methodology of Marx and the classical authors offers interesting and relevant perspectives on the basic structure and evolution of modern capitalist economies. Arguably, the book provides a deeper and more nuanced understanding of today's economic problems than can be gained via mainstream approaches.
Author:
Publisher:
ISBN:
Category : Manufacturing industries
Languages : en
Pages : 812
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Book Description
Author: Aswath Damodaran
Publisher: Now Publishers Inc
ISBN: 1601980140
Category : Business & Economics
Languages : en
Pages : 102
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Book Description
Valuation lies at the heart of much of what we do in finance, whether it is the study of market efficiency and questions about corporate governance or the comparison of different investment decision rules in capital budgeting. In this paper, we consider the theory and evidence on valuation approaches. We begin by surveying the literature on discounted cash flow valuation models, ranging from the first mentions of the dividend discount model to value stocks to the use of excess return models in more recent years. In the second part of the paper, we examine relative valuation models and, in particular, the use of multiples and comparables in valuation and evaluate whether relative valuation models yield more or less precise estimates of value than discounted cash flow models. In the final part of the paper, we set the stage for further research in valuation by noting the estimation challenges we face as companies globalize and become exposed to risk in multiple countries.
Author: Commission on Private Philanthropy and Public Needs
Publisher:
ISBN:
Category : Charitable uses, trusts, and foundations
Languages : en
Pages : 542
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Book Description
Author: Kenneth S. Hackel
Publisher: Createspace Independent Publishing Platform
ISBN: 9781548587727
Category :
Languages : en
Pages : 34
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Book Description
This updated and expanded second edition of Book provides a user-friendly introduction to the subject, Taking a clear structural framework, it guides the reader through the subject's core elements. A flowing writing style combines with the use of illustrations and diagrams throughout the text to ensure the reader understands even the most complex of concepts. This succinct and enlightening overview is a required reading for all those interested in the subject . We hope you find this book useful in shaping your future career & Business.
