登入選單

返回Google圖書搜尋

Terminal Value, Accounting Numbers, and Inflation

Gunther Friedl

出版	SSRN, 2008
URL	http://books.google.com.hk/books?id=EoPYzgEACAAJ&hl=&source=gbs_api

註釋

The terminal value generally reflects a substantial portion of a firm's market value. Stable growth models are usually used to estimate terminal values. We use a simple model of a firm to derive a valuation function for the terminal value in the presence of inflation. Our model reveals that there is a simple way to include the effect of inflation in the valuation model. Moreover, we show that recent recommendations on how to consider inflation in valuation models fail to provide correct estimates of firm value.