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2016 Valuation Handbook - Guide to Cost of Capital + Quarterly PDF Updates (Set)
Roger J. Grabowski
James P. Harrington
Carla Nunes
Duff & Phelps
出版
Wiley
, 2016-08-01
主題
Business & Economics / Corporate Finance / Valuation
Business & Economics / General
ISBN
1119299764
9781119299769
URL
http://books.google.com.hk/books?id=d1C-DAEACAAJ&hl=&source=gbs_api
註釋
The New Industry Standard in Business Valuation Reference Materials
2016 Valuation Handbook – Guide to Cost of Capital
provides the key annual valuation data previously published in (i) the now discontinued Morningstar/Ibbotson
SBBI Valuation Yearbook
(discontinued in 2013), and (ii) the Duff & Phelps
Risk Premium Report
(no longer published as a stand-alone publication).
The size premia data previously published in the
SBBI Valuation Yearbook
is referred to as the "CRSP Deciles Size Premia" exhibits in the new
2016 Valuation Handbook – Guide to Cost of Capital
, while the size and risk premia data published in the Duff & Phelps Risk Premium Report Study has been published annually since 1996 and, like the former
SBBI Valuation Yearbook
, provides data and methodology that can be used to develop cost of equity capital estimates using (i) the build-up method and (ii) the capital asset pricing model (CAPM).
The
2016 Valuation Handbook – Guide to Cost of Capital
includes data through December 31, 2015, and is intended to be used for 2016 valuation dates.
For more information about Duff & Phelps valuation data resources published by Wiley, please visit www.wiley.com/go/valuationhandbooks.
Also Available
2016 Valuation Handbook – Industry Cost of Capital + Quarterly PDF Updates (Set)
2016 International Valuation Handbook – Guide to Cost of Capital + Semiannual PDF Update (Set)
2016 International Valuation Handbook – Industry Cost of Capital + Semiannual PDF Update (Set)
Key Features
Key cost of capital outputs:
The
2016 Valuation Handbook – Guide to Cost of Capital
provides the key inputs needed for developing the cost of equity capital (i.e., "discount rate") for use in estimating the value of a subject business, business ownership interest, security, or intangible asset. Inputs provided include: equity risk premia, size premia, risk premia over the risk free rate, full-information industry betas, industry risk premia, and risk-free yields.
Discussion of topics that come up most when performing valuation analysis:
The
2016 Valuation Handbook – Guide to Cost of Capital
includes straightforward discussions about: (i) valuation theory, (ii) the differences between the various cost of capital estimation models (build-up, CAPM, Fama-French), (iii) understanding the basic building blocks of cost of equity capital (the risk-free rate, the equity risk premium, the size premium, beta, the industry risk premium, the company-specific risk premium), (iv) whether to "normalize" risk-free rates or not, (v) a detailed comparison of the CRSP Deciles Size Premia Study (the former
SBBI Valuation Yearbook
data) and the Risk Premium Report Study, and more.
Easy-to-follow examples:
The
2016 Valuation Handbook – Guide to Cost of Capital
is packed with easy-to-understand examples for properly using the data to develop levered, unlevered, and even "high-financial-risk" cost of equity capital using various build-up methods and the CAPM.